Title
Amending Appendix K, District Cooling Franchise-District Cooling St. Paul, Inc., to extend the term of the franchise to September 1, 2033.
Body
THE COUNCIL OF THE CITY OF SAINT PAUL DOES HEREBY ORDAIN:
Section 1
Appendix K is hereby amended to read as follows:
Section 1. Franchise granted.
District Cooling St. Paul, Inc., (f/k/a District Energy Services, Inc.) a nonprofit Minnesota corporation, hereinafter referred to as "District Cooling," is hereby granted a franchise to use and occupy the streets and other public property within the City of Saint Paul for the purpose of constructing, maintaining and operating a system of pipes, subways and manholes with all other necessary appurtenances only for carrying on a district cooling system providing thermal energy to customers within said city and for provision of a fiber optic network for District Cooling and governmental use by the City of Saint Paul, the State of Minnesota, the County of Ramsey, and by other government entities as may hereafter be approved by city council resolution. Said franchise may not be sold, transferred, assigned, pledged, mortgaged or in any way disposed of or encumbered without the consent of the city except as provided in Section 16.
Section 2. Definitions.
For the purpose of this chapter the following terms, phrases, words and their derivations shall have the meaning given herein. When not inconsistent with the context, words used in the present tense include the future, words in the plural number include the singular number, and words in the singular number include the plural number. The words "shall" and "will" are mandatory and "may" is permissive. Words not defined shall be given their common and ordinary meaning.
A. Capitalization cost shall mean the total cost incurred by District Cooling for the tangible assets of the district cooling system, exclusive of intangible assets such as goodwill or value of the franchise; provided that capitalization cost shall in no event be...
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