HomeMy WebLinkAbout2025-10-06 I08 1st Amendment to Waukee Gas Utility Purchase AgreementAGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: October 6, 2025
AGENDA ITEM:Consideration of approval of a resolution approving First Amendment to
Asset Purchase Agreement (Waukee Municipal Gas Utility)
FORMAT:Resolution
SYNOPSIS INCLUDING PRO & CON: Following a special election held in March 2025 on
the question on whether or not to sell the Waukee Municipal Utility, the City Council approved
an Asset Purchase Agreement with MidAmerican Energy Company. The agreement includes the
terms of the sale including purchase price, asset allocation and anticipated closing.
The proposed First Amendment includes a modification of the closing date from November 6,
2025 to October 22, 2025 as well as a provision related to customer billing and the purchasing of
gas for the utility.
FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS:
COMMISSION/BOARD/COMMITTEE COMMENT:
STAFF REVIEW AND COMMENT:
RECOMMENDATION: Approve the resolution
ATTACHMENTS: I. Proposed Resolution
II. 1st Amendment to Purchase Agreement
PREPARED BY:Brad Deets, City Administrator
REVIEWED BY:
I8
THE CITY OF WAUKEE, IOWA
RESOLUTION 2025-
RESOLUTION APPROVING FIRST AMENDMENT TO ASSET PURCHASE
AGREEMENT FOR THE SALE OF THE GAS UTILITY TO MIDAMERICAN
ENERGY COMPANY
IN THE NAME AND BY THE AUTHORITY OF THE CITY OF WAUKEE, IOWA
WHEREAS, the City of Waukee, Dallas County, State of Iowa, is a duly organized Municipal
Organization; AND,
WHEREAS, at a Special Election held March 4, 2025, the voters authorized the City to
discontinue and dispose of the municipally-owned gas utility, known as Waukee Municipal Gas
Utility, by sale; AND
WHEREAS, on April 21, 2025, the City approved an Asset Purchase Agreement with Mid
American Energy Company to move forward with the sale of the Gas Utility.
WHEREAS, said First Amendment to the Asset Purchase Agreement revises terms of the
original Agreement.
NOW BE IT THEREFORE RESOLVED by the City Council of the City of Waukee that the
First Amendment to Asset Purchase Agreement attached hereto should be and the same is hereby
approved.
Passed by the City Council of the City of Waukee, Iowa, and approved this the 6th day of
October, 2025.
____________________________
Courtney Clarke, Mayor
Attest:
___________________________________
Rebecca D. Schuett, City Clerk
RESULTS OF VOTE: AYE NAY ABSENT ABSTAIN
R. Charles Bottenberg
Chris Crone
Rob Grove
Anna Bergman Pierce
Ben Sinclair