There is hereby granted to MidAmerican Energy Company, a State corporation, hereinafter called “Company,” and to its successors and assigns, the right and franchise to acquire, construct, erect, maintain, and operate in the City of Clive, Iowa, hereinafter called the “City,” a gas distribution system, to furnish natural gas along, under, and upon the streets, avenues, alleys, and public places to serve customers within and without the City and to furnish and sell natural gas to the City and its inhabitants. This franchise shall be effective for a 25-year period from and after the effective date hereof; provided, however, that there may be a reevaluation prior to the end of the 15th year of this franchise, with the opportunity for both parties to request amendments to this franchise. If neither party requests such reevaluation by means of a written notice to the other party at least 90 days prior to the expiration of the 15th year of this franchise, this franchise will continue without change for the remaining 10 years. If such a request to reevaluate or amend the terms of the franchise is made and the parties are unable to agree to amend the terms of this franchise within 90 days or by a mutually agreed upon date, then either party may terminate this franchise at the end of the 15th year. For the term of this franchise, the Company agrees not to exercise its right of eminent domain without the prior approval of the Council, which approval shall be evidenced by a resolution of the Council. The Company shall not, without consent of the City, sell, assign, or convey its franchise rights granted pursuant to the franchise except that the Company may, without the City’s consent, sell, assign, or convey such franchise rights to its affiliated companies or subsidiaries.
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Notes
| 11 | † EDITOR’S NOTE: Ordinance No. 294 adopting a natural gas franchise for the City, was passed and adopted on October 7, 1982. Voters approved the franchise at an election held on November 23, 1982. On December 6, 2007, Ordinance No. 874 was approved by the Council, and they voted to waive the election provision. |