Title
Pertaining to an Amendment No. 1 to Contract for Water Service with the Regents of the University of Minnesota.
Body
WHEREAS, the Regents of the University of Minnesota (“University”) owns and controls real property in the Cities of Falcon Heights and Saint Paul south of Larpenteur Avenue West, east of Cleveland Avenue North, north of Como Avenue, and west of the Minnesota State Fairgrounds (“University’s Saint Paul Campus”); and
WHEREAS, the Board and University entered into a Contract for Water Service dated December 10, 2019 for the Board’s water supply to University’s Saint Paul Campus; and
WHEREAS, Section 5.01.B. of said contract requires periodic reviews including a cost-of-service study to analyze the return on Board assets, asset allocations, and other economic factors; and
WHEREAS, Baker Tilly Municipal Advisors, LLC performed a Cost-of-Service study dated March 30, 2023; and
WHEREAS, the parties desire at this time to adjust fees and charges paid by the University in order to reflect modifications identified in the March 30, 2023 Cost-of-Service Study; and
WHEREAS, staff has prepared an Amendment No. 1 to Contract For Water Service which provides such adjustment and Saint Paul Regional Water Services General Manager recommends approval of said Amendment; now, therefore, be it
RESOLVED, that the Board of Water Commissioners of the City of Saint Paul does hereby approve Amendment No. 1 to Contract For Water Service with the Regents of the University of Minnesota in substantially the form submitted, and that the proper officers of the Board are hereby authorized and directed to execute said Amendment No. 1 on behalf of the Board following approval of the assistant city attorney.