Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Energy Procurement topic
No spam. Unsubscribe anytime.
Council approves natural-gas agreements and authorizes PDFA bond issuance
Summary
The Waterloo City Council approved two related resolutions to participate in a discount natural-gas program through Utility Gas Management and to authorize a gas purchase and PDFA bond issuance to fund the procurement.
The Waterloo City Council on April 3 approved two related actions to secure natural gas supply under a discount program and to authorize a bond funding mechanism.
A council member explained the first item was part of a discount program offered by Utility Gas Management (UGM) and that committees had given the proposal a positive reception. That motion, recorded as Resolution 26-03, would amend zoning-related language and advance the city’s participation in a UGM-managed purchase from BEFA Incorporated. “This is part of a discount program offered by UGM,” the council member said, adding committees had met and the reception was generally positive.
The council then considered a second but related measure, Resolution 26-04, which authorizes the purchase of natural gas from PDFA Incorporated, approves execution of a gas supply agreement and related documents, and approves issuance of bonds by PDFA as the funding mechanism. A council member described the funding vehicle as bond issuance and said the bonds were the intended mechanism to fund the purchase.
Both measures were put to roll-call votes and were approved. The Chair announced the motions passed after the affirmative roll calls were recorded.
The approvals allow staff to finalize agreements with the named providers and to proceed with the PDFA bond issuance as described in the resolution text. No specific bond amount or repayment schedule was discussed on the record at this meeting; the resolutions authorize execution of the agreements and related documents as presented.
