Notice is hereby given that the City Council of Fort Madison, Iowa will conduct a public hearing on the 17th day of November, 2020, at 5:30 P.M. in the City Council Chambers, 811 Avenue E, Fort Madison, Iowa, to receive comments on the following item:
An Ordinance repealing Ordinance No. C-512 and granting to Interstate Power and Light Company, its successors and assigns, a non-exclusive franchise to erect, construct, reconstruct, maintain, and operate in the City of Fort Madison, Iowa, an electric system and to furnish and sell electric energy to the City and its inhabitants and authorizing the City to collect franchise fees for a period of 15 years.
Pursuant to Iowa Code section 364.2(4)(f), the proposed ordinance imposes a franchise fee. The franchise fee provision of the ordinance provides, “There is hereby imposed a franchise fee of one and one-half percent (1.5%) upon the gross revenue generated from sales of electricity by the Company within the corporate limits of the City of Fort Madison, Lee County, Iowa. The percentage of franchise fee will not be increased during the first ten (10) years, starting from the effective date of the franchise Ordinance. The Company shall begin collecting the franchise fee upon receipt of written approval of the required tax rider tariff from the Iowa Utilities Board.”
The City shall be solely responsible for the proper use of any amounts collected as a franchise fee, and shall only use such fees as collected for purposes as allowed by applicable law.
This is a summary of the proposed ordinance. The proposed ordinance is on file and available for public inspection in the office of the City Clerk. You may contact the City Clerk by calling (319) 372-7700 ext. 206 to request a copy of the proposed ordinance.
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.
Any and all residents and interested property owners are invited and encouraged to attend this hearing at the time and place mentioned above and to submit comments either orally, in writing, or both. For further information, please contact City Hall.
This Notice is given by order of the Council of Fort Madison, Iowa, as provided by Sections 380.7(3) and 362.3 of the Code of Iowa, as amended.