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152936 • wnaxlp NOTICE Village of Cadott Resolution 2024-5 RELATED TO THE PRELIMINARY AGREEMENT FOR THE SALE OF MUNICIPAL PUBLIC UTILITY ASSETS On June 3, 2024, during the regularly scheduled meeting for the Village of Cadott board, the village will be considering and possibly taking action on Resolution No. 2024-5. The meeting shall take place at its regularly scheduled time of 6:30 p.m., at the Cadott Village Hall. All citizens or interested parties are encouraged to attend. Village trustee Louis Eslinger can be contacted in advance of the meeting, at 715-382-6223, with any questions. RESOLUTION NO. 2024-5 FOR THE BOARD OF THE VILLAGE OF CADOTT WHEREAS, the Village of Cadott desires to sell, and Chippewa Valley Electric Cooperative desires to purchase, certain electric utility assets owned by the Village of Cadott; WHEREAS, a preliminary agreement between the Village of Cadott and Chippewa Valley Electric Cooperative is necessary, and required, for the sale of municipal public utility assets; and WHEREAS, a resolution from the Village of Cadott is necessary, and required, for the Village of Cadott to enter into a preliminary agreement for the sale of municipal public utility assets; NOW, THEREFORE, BE IT RESOLVED, that the Village of Cadott will enter into a preliminary agreement for the sale of municipal public utility assets to Chippewa Valley Electric Cooperative, based on the following terms: 1. The Village of Cadott agrees to sell to Chippewa Valley Electric Cooperative and Chippewa Valley Electric Cooperative agrees to purchase from the Village of Cadott, the following described property and equipment owned by the Village of Cadott, to-wit: (i) transmission connected distribution substation, including the switches and tap conductors; (ii) all of the electric utility distribution system, including poles and structures, overhead conductor, underground conductor, line transformers, services, meters, oil circuit breakers, yard lighting, LED street/roadway lighting; (iii) easements; (iv) materials and supplies, including any excess inventory; (v) assumption of existing electric utility contracts; and (v) business records necessary for the continuity of operation of the utility system (the “electric utility property and equipment”). 2. The purchase price for the electric utility property and equipment shall be one million, four hundred and fifty thousand, and 00/100 dollars ($1,450,000). 3. The purchase and sale of the electric utility property and equipment shall be subject to the approval of the Public Service Commission of Wisconsin. Adopted the 3rd day of June, 2024, by the board of the Village of Cadott, Wisconsin. By: April Bruhn, clerk/treasurer By: Randolph R. Kuehni, president/board member
152936 • wnaxlp NOTICE Village of Cadott Resolution 2024-5 RELATED TO THE PRELIMINARY AGREEMENT FOR THE SALE OF MUNICIPAL PUBLIC UTILITY ASSETS On June 3, 2024, during the regularly scheduled meeting for the Village of Cadott board, the village will be considering and possibly taking action on Resolution No. 2024-5. The meeting shall take place at its regularly scheduled time of 6:30 p.m., at the Cadott Village Hall. All citizens or interested parties are encouraged to attend. Village trustee Louis Eslinger can be contacted in advance of the meeting, at 715-382-6223, with any questions. RESOLUTION NO. 2024-5 FOR THE BOARD OF THE VILLAGE OF CADOTT WHEREAS, the Village of Cadott desires to sell, and Chippewa Valley Electric Cooperative desires to purchase, certain electric utility assets owned by the Village of Cadott; WHEREAS, a preliminary agreement between the Village of Cadott and Chippewa Valley Electric Cooperative is necessary, and required, for the sale of municipal public utility assets; and WHEREAS, a resolution from the Village of Cadott is necessary, and required, for the Village of Cadott to enter into a preliminary agreement for the sale of municipal public utility assets; NOW, THEREFORE, BE IT RESOLVED, that the Village of Cadott will enter into a preliminary agreement for the sale of municipal public utility assets to Chippewa Valley Electric Cooperative, based on the following terms: 1. The Village of Cadott agrees to sell to Chippewa Valley Electric Cooperative and Chippewa Valley Electric Cooperative agrees to purchase from the Village of Cadott, the following described property and equipment owned by the Village of Cadott, to-wit: (i) transmission connected distribution substation, including the switches and tap conductors; (ii) all of the electric utility distribution system, including poles and structures, overhead conductor, underground conductor, line transformers, services, meters, oil circuit breakers, yard lighting, LED street/roadway lighting; (iii) easements; (iv) materials and supplies, including any excess inventory; (v) assumption of existing electric utility contracts; and (v) business records necessary for the continuity of operation of the utility system (the “electric utility property and equipment”). 2. The purchase price for the electric utility property and equipment shall be one million, four hundred and fifty thousand, and 00/100 dollars ($1,450,000). 3. The purchase and sale of the electric utility property and equipment shall be subject to the approval of the Public Service Commission of Wisconsin. Adopted the 3rd day of June, 2024, by the board of the Village of Cadott, Wisconsin. By: April Bruhn, clerk/treasurer By: Randolph R. Kuehni, president/board member
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