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Council renews 20-year KGS franchise agreement at existing 5% rate
Summary
Belle Plaine approved renewing a 20-year franchise agreement with KGS at the current 5% sales rate; the agreement will replace a contract that expires in November and preserves existing revenue terms.
City Clerk Stephanie McGinnis told the council the current 20-year franchise agreement with KGS expires in November and currently yields 5% under a sales-only contract. The council voted to adopt a renewal for another 20 years at the same 5% rate and terms.
Dennis McGinnis moved to adopt the renewal and Craig Joy seconded the motion; the vote was unanimous. The renewal preserves the city's existing franchise revenue stream without rate increases or other term changes discussed at the meeting.
Council did not include a detailed fiscal analysis in the minutes; staff indicated the water, sewer and other funds are in healthy shape overall and the city will continue to track revenue during the next budget cycle.
