Electric System Acquisition Appraisal

The Cities of Floresville, Poth and Stockdale, Texas comprise the Floresville Electric Light & Power System (FELPS). Historically, Floresville has provided for all electric power operations and maintenance. In conjunction with a decision by the Cities of Poth and Stockdale to sell their electric system assets to Floresville, members of the Firm prepared an independent valuation and appraisal of the transmission, substation and distribution assets to be transferred as a test of the reasonableness of the purchase and sale price agreed to by the three cities. An Appraisal Report was prepared which considered the value of the electric system assets to be transferred on Original Cost Less Depreciation, Replacement Cost New, Replacement Cost New Less Depreciation and Going Concern bases.

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