PUBLIC NOTICE is hereby given that the City Council of the City of Fort Madison, State of Iowa, will meet on the 17th day of November, 2020, at 5:30 P.M. in the City Council Chambers, 811 Avenue E, Fort Madison, Iowa, at which meeting the City Council proposes to consider the adoption of the attached Resolution Adopting Revenue Purpose Statement Regarding Revenues from Proposed Electric Franchise Fees Pursuant to Iowa Code § 364.2(4)(f).
As a result of concerns for the health and safety of the Council members, staff and public presented by COVID-19, pursuant to Iowa Code Section 21.8, persons may participate in the meeting on November 17 either in person or electronically. You can participate in the meeting and can comment on an agenda item by joining the Zoom meeting by calling in by phone by dialing (312) 626 6799 and entering the meeting ID 820 4216 6270 when prompted.
This Notice is given by order of the Council of Fort Madison, Iowa, as provided by Sections 364.2(4)(f) and 362.3 of the Code of Iowa, as amended.
Dated this __________ day of _______________, 2020.
City Clerk, City of Fort Madison, State of Iowa
RESOLUTION NO. _____
RESOLUTION ADOPTING REVENUE PURPOSE STATEMENT REGARDING USE OF REVENUES FROM PROPOSED ELECTRIC FRANCHISE FEE PURSUANT TO IOWA CODE § 364.2(4)(f)
WHEREAS, the City of Fort Madison, Iowa is considering amending its electric franchise with Interstate Power and Light Company (under which a franchise fee will be increased); and
WHEREAS, the City Council of the City of Fort Madison will hold a public hearing regarding the amendment of the franchise with Interstate Power and Light Company prior to adoption of any amended franchise; and
WHEREAS, Iowa Code § 364.2(4)(f) requires adoption of a “Revenue Purpose Statement” by a city council prior to the amendment of any franchise which will increase the percentage rate at which franchise fees are assessed; and
WHEREAS, the “Revenue Purpose Statement” must specify the purpose or purposes for which any revenue generated by a franchise fee will be used; and
WHEREAS, as required by Iowa Code § 364.2(4)(f) a copy of the proposed “Revenue Purpose Statement” has been published in the manner provided by Iowa Code § 362.3.
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Fort Madison:
Section 1: The following “Revenue Purpose Statement” is hereby adopted by the City Council of the City of Fort Madison, to wit:
REVENUE PURPOSE STATEMENT REGARDING USE OF REVENUE FROM INTERSTATE POWER AND LIGHT COMPANY FRANCHISE FEES
Pursuant to Iowa Code § 364.2(4)(f) the City of Fort Madison states that all revenue generated from franchise fees assessed on the sales of electricity within the city shall be deposited in the franchise fee account in the general fund and shall be used to reimburse the City for all costs associated with inspecting, supervising or otherwise regulating its franchises. Moneys in the franchise fee account in the general fund in excess of the amounts necessary for costs associated with inspecting, supervising or otherwise regulating its franchises shall be expended for any of the following:
a) The repair, remediation, restoration, cleanup, replacement, and improvement of existing public improvements and other publicly owned property, buildings, and facilities.
b) Projects designed to prevent or mitigate future disasters as defined in Iowa Code Section 29C.2.
c) Public safety, including the equipping of fire, police, emergency services, sanitation, street, and civil defense departments.
d) The establishment, construction, reconstruction, repair, equipping, remodeling, and extension of public works, public utilities, and public transportation systems.
e) The construction, reconstruction, or repair of streets, highways, bridges, sidewalks, pedestrian underpasses and overpasses, street lighting fixtures, and public grounds, and the acquisition of real estate needed for such purposes.
f) Economic development activities and projects.
Section 2: The City Clerk shall cause this “Revenue Purpose Statement Regarding Use of Revenue from Interstate Power and Light Company Franchise Fees” as adopted to be published in the manner required by Iowa Code § 362.3.
Adopted the ____ day of _____________, 2020.