HomeMy WebLinkAbout28E agreement- financial arrangements signed 11.9.23AGREEMENT BETWEEN THE MUNICIPAL COMMUNICATIONS
UTILITY OF THE CITY OF CEDAR FALLS, WAVERLY
COMMUNICATIONS UTILITY, THE COMMUNICATIONS UTILITY OF
BELLEVUE, IOWA, INDIANOLA MUNICIPAL UTILITIES, VINTON
MUNICIPAL COMMUNICATIONS UTILITY, CITY OF PELLA
MUNICIPAL TELECOMMUNICATIONS UTILITY, NEW HAMPTON
MUNICIPAL COMMUNICATIONS UTILITY, AND WATERLOO
TELECOMMUNICATIONS UTILITY REGARDING FINANCIAL
ARRANGEMENTS
1.This Agreement is made and entered into pursuant to the: AMENDED AND
REST A TED AGREEMENT UNDER IOWA CODE CHAPTER 28E BETWEEN WAVERLY
COMMUNICATIONS UTILITY, THE MUNICIPAL COMMUNICATIONS UTILITY OF
THE CITY OF CEDAR FALLS, THE COMMUNICATIONS UTILITY OF BELLEVUE,
IOWA, INDIANOLA MUNICIPAL UTILITIES, VINTON MUNICIPAL
COMMUNICATIONS UTILITY, CITY OF PELLA MUNICIPAL TELECOMMUNICATIONS
UTILITY, NEW HAMPTON MUNICIPAL COMMUNICATIONS UTILITY, AND
WATERLOO TELECOMMUNICATIONS UTILITY PROVIDING FOR JOINT OWNERSHIP
AND USE OF CERTAIN FACILITIES AND RELATED MATTERS ("28E Agreement") and is
to be interpreted and construed in accord with said agreement.
2.This Agreement is subject to and continues prior agreements of the parties,
including the following:
A.All parties agree that insurance (including responsibility for deductibles) of
assets and facilities are a shared expense allocated in accord with investment in
assets and shall be subject to annual readjustment under paragraph 9 of the 28E
Agreement. These and other expense allocations are addressed within this
Agreement and specifically in Schedule A of the 28E Agreement.
B.Except as specifically modified by this Agreement or the Amended and
Restated 28E Agreement mentioned in paragraph 1 the understanding set forth in
this paragraph remain valid.
3.Starting October 11, 2023, Waterloo will make all payments based on the
Amended and Restated 28E Agreement and specifically in Schedule A of the 28E
Agreement, as well as the following one-time payments under this Agreement:
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A.Waterloo will make a payment to CFU for IP Video headend equipment,
Minerva and Network DVR of $288,300.51 and a payment for existing CFU
owned video infrastructure of $144,474.99. CFU shall make the reimbursement
payments identified in paragraphs 3(B) and 3(C).
B.Payments from Waterloo for IP Video headend equipment, Minerva and
Network DVR will be reimbursed to existing parties as follows: $133,738.86 to
Cedar Falls, $34,800.61 to Waverly Utilities, $6,207.68 to Bellevue, $50,042.17
to Indianola, $18,445.67 to Vinton, $33,089.86 to Pella, and $11,975.66 to New
Hampton.
C.Payments from Waterloo for existing CFU owned video infrastructure will be
reimbursed to existing parties as follows: $65,903.37 to Cedar Falls, $16,976.84
to Waverly, $4,843.52 to Bellevue, $25,305.04 to Indianola, $9,469.29 to Vinton,
$15,841.79 to Pella, and $6,135.14 to New Hampton.
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MUNICIPAL COMMUNICATIONS
UTILITY OF THE CITY OF
CEDAR FALLS, IOWA
Richard McAlister, Board Chair
ATTEST:
MaraBeth Soneson, Board Secretary
Date
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10/11/2023
COMMUNICATIONS UTILITY OF
BELLEVUE, IOWA
Jl,A,_,lM.., �. IJJ.lA()s dUM._Pv
, City Administrator
ATTEST:
o'\ I oq /;;o-;; .37 I Date
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9/6/2023