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11-29-2023 HUCCPHUTCHINSON UTILITIES COMMISSION AGENDA REGULAR MEETING November 29, 2023 3:00 p.m. 1. CONFLICT OF INTEREST 2. APPROVE CONSENT AGENDA a. Approve Minutes b. Ratify Payment of Bills 3. APPROVE FINANCIAL STATEMENTS 4. OPEN FORUM 5. COMMUNICATION a. City Administrator b. Divisions C. Human Resources d. Legal e. General Manager 6. POLICIES a. Review Policies i. CIP Rebate Level of Authority ii. Delegation of Authority Policy iii. Financial Reserve Policy iv. Service Beyond City Limits of Hutchinson v. Surplus Property Policy b. Approve Changes i. Payments of HUC Payables ii. Purchasing Policy/Credit Cards/Fixed Assets iii. Investment Policy iv. Petty Cash — Exempt and Non -Exempt 7. UNFINISHED BUSINESS 8. NEW BUSINESS a. Approve Non -Waiver of Tort Liability Limits for General Liability Insurance b. Approve Customer Uncollectable Write -Offs C. Approval Interconnect Agreement for Heartland Corn Products d. Approval of Natural Gas Firm Transportation Capacity Agreement with Heartland Corn Products e. Approval of Operating Agreement Heartland Corn Products Natural Gas Transmission Facilities f. Approve Req#009733 — Replace 2010 Dodge Dakota g. Approve Req#009734 — Replace 2012 Dodge Ram h. Approve Req#009735 — City of Hutchinson LED Street Light Conversion i. Discussion of reappointment of Don Martinez to the Hutchinson Utilities Commission Discuss Date for Performance Review of Hutchinson Utilities General Manager 9. ADJOURN MINUTES Regular Meeting — Hutchinson Utilities Commission Wednesday, October 25, 2023 Call to order — 3:00 p.m. President Anthony Hanson called the meeting to order. Members present: President Anthony Hanson; Vice President Matt Cheney; Secretary Don Martinez; Commissioner Bob Wendorff; Commissioner Kathy Silvernale; GM Jeremy Carter Absent: Attorney Marc Sebora President Hanson noted adding a new business item 8g - Unit 1 LM6000 discussion 1. Conflict of Interest 2. Approve Consent Agenda a. Approve Minutes b. Ratify Payment of Bills Motion by Commissioner Cheney, second by Commissioner Martinez to Approve the Consent Agenda. Motion carried unanimously. 3. Approve Financial Statements Mr. Martig presented the financial statements. Transmission for the month was over estimated by $133k, which was based on a typical September. GRE charges HUC based on HUC's usage at GRE's peak. GRE's peak was Labor Day due to the hot weather, however 3M was shut down over Labor Day weekend so HUC's usage was lower during that time. GM Carter noted even though there was a savings of transmission expenses, HUC then lost KWH sales with 3M being down. KWH load for the month of September was down 6.5%, with Industrial class being down about 13%. 3M was down 3 extra days from last year due to additional maintenance that was needed. This equates to a reduction of slightly under 1.1 M kwh sales. With load being down purchase power was down, HUC did not have to procure off the market. Operating expenses were also down by $116K, last year HUC had additional expenses that were not incurred this year; transformer material expenses, higher boiler insurance, purchase of street light materials along with building maintenance in the production facilities. In the Natural Gas Division with 3M being down, CF Sold was also down. Total CF Sold for September was down by 22.96% with Industrial class being down 25.82%; which consisted of 3M being down for 5 days and Minnesota Yeast being down for 2 weeks. Motion by Commissioner Silvernale, second by Commissioner Wendorff to Approve the Financial Statements. Motion carried unanimously. 4. Open Forum 5. Communication a. City Administrator —Matthew Jaunich — i. Wrapping up Summer/Fall projects ii. Workshop was held on the results of the Community Survey that is completed every 4 years. Mr. Jaunich noted that Public Utilities (Gas and Electric) had an 89% Good or Excellent favorable rate from the Community. b. Divisions i. Dan Lang, Engineering Services Manager — Absent ii. Dave Hunstad, Electric Transmission/Distribution Manager — 1. With the fiber optic installation work going on in the community, HUC is taking advantage by installing joint trench to complete reconductor work that is needed. Saves with cost and easement space. More will be completed next year. 2. Finishing up Development projects this fall iii. Mike Gabrielson, Production Manager — 1. 3rd phase of cooling tower is going well. May get pushed out with weather but hoping to complete next week iv. John Webster, Natural Gas Division Director — 1 . Construction season coming to an end 2. Provided an Interconnect Station update with the dollars that have been spent, what has been completed and what still needs to be completed. Hot Tap is scheduled for Nov 6. Construction to wrap up — middle/end of January. 3. 27 ft long Easement has been secured to complete the boring of the road crossing on the HCP project v. Jared Martig, Financial Manager — 1. MRES rates will be going up 2.7% in 2024 with a projection of 5.4% increases through 2028. MRES has transmission projects going on along with looking to retire a coal plant in 12 years. c. Human Resources — Angie Radke 1. Have a new Employee starting Monday in the Natural Gas Division as a Welder/Service Person. This will bring HUC back to full staff. 2. Finalizing 2024 Benefits. Looking to have an Open Enrollment meeting for employees mid -November. 3. First round of Union Negations was last Tuesday, October 17. Follow up negotiation meeting scheduled for Thursday, November 2. 4. Jeremy and I are working on draft language for the ESST Policy to make sure HUC will be in compliance for January 1, 2024 deadline. 5. Reminder that the Commissioners will need to set a date and time for the General Manager annual review, which can be a separate date or in conjunction with the December regular Commission meeting. d. Legal — Marc Sebora — Absent e. General Manager — Jeremy Carter 1. Working on budget and CIP 6. Policies 2 a. Review Policies i. Natural Gas Service Requirements & Changes ii. Temporary Service — Natural Gas iii. Natural Gas Meter Requirements & Placement iv. Meter Testing — Natural Gas v. Natural Gas Service Work vi. Locating Customer's Underground Utilities — Natural Gas b. Approve Changes None 7. Unfinished Business 8. New Business a. Approve Req#009714 — 2024 F550 Cab & Chassis Mr. Webster presented Approval of Req#009714 - 2024 F550 Cab & Chassis. As part of the Fleet Management Program, HUC is requesting to replace the 2003 Ford dump truck. Two bids were received, Holt Motors total price of $59,926.40 was the lowest bid. HUC did budget $74k. The body of the dump body will be ordered once HUC has confirmation of a build date for the cab & chassis. Motion by Commissioner Cheney, second by Commissioner Wendorff to Approve Req#009714 — 2024 F550 Cab & Chassis. Motion carried unanimously. b. Approve Natural Gas Commodity Agreement - United Farmers Cooperative Mr. Webster presented Approval of Natural Gas Commodity Agreement. Current agreement is due for renewal. UFC would like to continue to contract with HUC for the purchase of long-term firm natural gas commodity to be delivered to the Brownton Interconnect Station (Hwy 212). Initial term of agreement to be 10 years. Commodity Charge is (NNG Ventura Daily Index plus $0.06 (which is an increase from $0.05)) plus 3.25%. Motion by Commissioner Silvernale, second by Commissioner Martinez to Approve Natural Gas Commodity Agreement - United Farmers Cooperative. Motion carried unanimously. c. Approve Natural Gas Firm Transportation Capacity Agreement —United Farmers Cooperative Mr. Webster presented Approval of Natural Gas Firm Transportation Capacity Agreement — United Farmers Cooperative. This Agreement is for the transportation of UFC's Natural Gas from Trimont, MN to the Brownton Interconnect Station (Hwy 212). UFC did decrease the transportation capacity to 1000 Dth/day from 2000 dth/day. Mr. Webster reviewed the different charges for various months. 3 Motion by Commissioner Cheney, second by Commissioner Silvernale to Approve Natural Gas Firm Transportation Capacity Agreement —United Farmers Cooperative. Motion carried unanimously. d. Approve 2023 Audit Services with Conway Deuth & Schmiesing Mr. Martig presented Approval 2023 Audit Services with Conway Deuth & Schmiesing. For fiscal year 2023, Audit Services have increased to $28,500. Mr. Martig provided a 10-year history for review. Motion by Commissioner Martinez, second by Commissioner Silvernale to Approve 2023 Audit Services with Conway Deuth & Schmiesing. Motion carried unanimously. e. Approve Setting a Special Budget Workshop Meeting at 2pm on November 29, 2023 Ms. Radke presented Approval of Setting a Special Budget Workshop Meeting at 2pm on November 29, 2023. Based on the feedback that was received from the Commissioners, Staff would like to set a Special Budget Workshop Meeting at 2pm on November 29, 2023 before the regular scheduled Commission Meeting. Motion by Commissioner Cheney, second by Commissioner Martinez to Approve Setting a Special Budget Workshop Meeting at 2pm on November 29, 2023. Motion carried unanimously. f. Approve Rescheduling the December 27, 2023 Regular Commission Meeting to December 20, 2023. Ms. Radke presented Approval of Rescheduling the December 27, 2023 Regular Commission Meeting to December 20, 2023. Based on the feedback that was received from the Commissioners, Staff would like to reschedule the December 27, 2023 regular Commission Meeting to December 20, 2023 at 3pm. Motion by Commissioner Wendorff, second by Commissioner Cheney to Approve Rescheduling the December 27, 2023 Regular Commission Meeting to December 20, 2023. Motion carried unanimously. g. Unit 1 LM6000 Discussion Mr. Gabrielson started the Unit 1 LM6000 Discussion. Currently the turbine is at GE waiting for HUC to decide on repairs that GE has identified. There are a list of Non- serviceable/Repair (NSR's) that do not meet GE's minimum specs. Mr. Gabrielson recapped an email that was sent to the Commissioners providing background and the pros and cons to 3 options that are available. Along with providing a Mid -Shaft finding update. GM Carter provided additional information on the options. Discussion was also held on time frames, permitting, safety concerns and capacity contracts. GM Carter spoke of additional change orders that may come up and how those should be handled. 12 Commissioners will think about the 3 options available along with how change orders should be handled. Staff will provide additional information on questions that will be asked of GE after today's meeting, which will include the safety of the engine. Ms. Radke will look at scheduling a Special Meeting for next week. 9. Adjourn There being no further business, a motion by Commissioner Cheney, second by Commissioner Silvernale to adjourn the meeting at 3:50p.m. Motion carried unanimously. ATTEST: Anthony Hanson, President 5 Don Martinez, Secretary MINUTES Special Meeting — Hutchinson Utilities Commission Monday, October 30, 2023 Call to order — 7:30a.m. President Anthony Hanson called the meeting to order. Members present: President Anthony Hanson; Vice President Matt Cheney; Secretary Don Martinez; Commissioner Robert Wendorff; Commissioner Kathy Silvernale; GM Jeremy Carter; Attorney Marc Sebora Others Present: Mike Gabrielson; Dan Lang; Angie Radke The purpose of the special meeting is to have Unit 1 LM6000 Discussions. GM Carter and Mr. Gabrielson recapped information that was provided at last week's Regular Commission Meeting along with new information that was received from GE. Discussion was held on HUC's current PA model moving to a PC model; would emissions/permitting be the same and would HUC need to go out to Bid. Mr. Sebora stated going out for bid would not be needed since the generator itself would be the same and only a component would be replaced. Mr. Gabrielson noted that if the critical NSRs are taken care of, the engine would permanently be "On Watch" of around 300-500 hours. HUC runs about 500 hours a year. An update was given on the PC option. The PC engine is an Overhauled (OH'd) engine that would be ready to ship in May 2024 with an estimate of 15-25 days for turnkey installation. Costs of the OH'd unit was also discussed along with a new PC engine being available in December as an option. Consideration on the age of the OH'd unit, costs of what HUC has already put into the Unit, and trade-in value of HUC's current PA model were also discussed Commissioners would like to have Jeff Fassett review GE's responses and see if a second opinion is needed. Discussion was held about recessing the meeting. Meeting is recessed until Wednesday, November 1, 2023 at 7:30am. There being no further business, a motion by Commissioner Martinez, second by Commissioner Cheney to adjourn the meeting at 8-11a.m. Motion carried unanimously. ATTEST: Anthony Hanson, President 1 Don Martinez, Secretary MINUTES Special Meeting — Hutchinson Utilities Commission Wednesday, November 1, 2023 Call to order — 7:30a.m. President Anthony Hanson called the meeting to order. Members present: President Anthony Hanson; Vice President Matt Cheney; Secretary Don Martinez; Commissioner Robert Wendorff; Commissioner Kathy Silvernale; GM Jeremy Carter; Attorney Marc Sebora Others Present: Mike Gabrielson; Angie Radke The purpose of the special meeting is a continuation of Unit 1 LM6000 Discussions from the October 30, 2023 Special Meeting that was recessed. Mr. Gabrielson started the discussion regarding the Unit 1 LM6000. There is always a risk of fire with gas turbines, no matter the condition of the hardware. Mr. Gabrielson stated that Staff would section off an area around the engine during operation that employees could not pass. Also, since the engine is in an enclosure, this mitigates the potential safety hazard of liberations or catastrophic failures. Mr. Gabrielson also stated that Staff would like to proceed with fixing the Mid -Shaft and other critical NSR's. Along with the Mid -Shaft that needs to be sent out and tested by a 3rd party for continued use, there is also a Balance Piston which was not on the original list but now needs to be sent out and tested. GM Carter noted that Brian Hulse from IEM Energy Consultants asked GE if Commercial -Aviation parts can be used. GE does not use Commercial parts, but will discuss offline and work internally to see what avenues can be done. GM Carter provided an update on the Overhauled (OH'd) PC engine that would be ready to ship in May 2024. GE is confirming baseplate modifications that may or may not be required. The cost of the OH'd unit would be $14M, a new unit would be $16M. The price does not include an exchange value on HUC's current PA model or the additional cost of the "sprint" package. The Sprint package provides an additional 11 MW's of power. The OH'd unit is a 1998 model and was put into service in 1999. The warranty of the OH'd unit is 1 year, could possibly get 2-year warranty on a new unit. Permitting requirements are also being looked into by HUC Staff on replacing the existing PA model with a new unit. Staff recommends proceeding with the critical NSR's and 3rd party review of the mid -shaft and balance piston. If it is deemed that the mid -shaft or balance piston is not repairable and/or new parts cannot be procured then looking at an OH'd or new engine may be an option. Any costs incurred on improving HUC's current unit will be valued into the trade- in value on a PC model if that is the only viable option. There was a consensus from the Commission to send out the mid -shaft and piston. Commissioners do not need to be involved in every change order and are comfortable with having Mr. Gabrielson and GM Carter make those decisions up to a dollar amount along with GM Carter documenting the charges and providing an update on a regular basis to the Commissioners. Motion by Commissioner Silvernale, second by Commissioner Cheney to Approve GM Carter the Authority of up to $500K in addition to what the Commission already Approved with the oil leak along with GM Carter to give additional updates to the Commission on a regular basis. Motion carried unanimously. There being no further business, a motion by Commissioner Cheney, second by Commissioner Martinez to adjourn the meeting at 8-11a.m. Motion carried unanimously ATTEST: Anthony Hanson, President 2 Don Martinez, Secretary MINUTES Special Meeting — Hutchinson Utilities Commission Wednesday, November 15, 2023 Call to order — 7:30a.m. President Anthony Hanson called the meeting to order. Members present: President Anthony Hanson; Vice President Matt Cheney; Secretary Don Martinez; Commissioner Robert Wendorff; GM Jeremy Carter; Attorney Marc Sebora Absent: Commissioner Kathy Silvernale Others Present: Dan Lang; Angie Radke The purpose of the special meeting is to Approve the Hutchinson Substation Transformer Contract. Mr. Lang presented Approval of the Hutchinson Substation Transformer Contractor. This is the last step in process. At the September 7, 2023 bid opening, 4 bids were received. Pennsylvania Transformer Technology Inc was the lowest evaluated price of the bids received. October 9, 2023 the bid was awarded. HUC has now received all needed signatures, insurance, and bond documents. Motion by Commissioner Cheney, second by Commissioner Martinez to Approve the Contract with Pennsylvania Transformer Technology Inc for the purchase of an 83MVA Transformer. Motion carried unanimously. There being no further business, a motion by Commissioner Wendorff, second by Commissioner Martinez to adjourn the meeting at 7:36a.m. Motion carried unanimously. ATTEST: Anthony Hanson, President 1 Don Martinez, Secretary 11/20/2023 02:29 PM CHECK DISBURSEMENT REPORT FOR HUTCHINSON UTILITIES Page 1/20 User: JMartig CHECK DATE FROM 10/19/2023 - 11/20/2023 DE: Hutchinson Utili Check Date Bank Check # Payee Description Account Dept Amount Fund: 1 ELECTRIC 10/30/2023 GEN 79806 A & L INVESTMENTS OVERPAYMENTS 142-000- 00 368.58 10/30/2023 GEN 79807* A R ENGH HEATHING AND AIR COND, Grounds - Materials 401-935- 08 300.00 10/30/2023 GEN 79808* AARON SHOWALTER DEP REFUND/APPLIED 235-000- 00 156.00 10/30/2023 GEN 79809*4 ACE HARDWARE Sales Tax Receivable - Replace 186-000- 00 1.55 Supplies 401-550- 01 64.11 Supplies 401-550- 01 98.28 Supplies 401-550- 01 5.33 Supplies 401-550- 01 it.09 Generator 41 Material 402-554- 01 22.57 Maintenance Other - Materials 402-554- 01 7.04 Materials 402-574- 03 8.11 HECK GEN 79809 TOTAL FOR FUND 1: 218.08 10/30/2023 GEN 79810 ALTEC INDUSTRIES INC Vehicles - Material 402-598- 02 2,452.85 10/30/2023 GEN 79811* AMANDA BIJOLD DEP REFUND/APPLIED 235-000- 00 237.25 10/30/2023 GEN 79812 ANGELA HURD OVERPAYMENTS 142-000- 00 32.83 10/30/2023 GEN 79814* ARIANA DUNCAN DEP REFUND/APPLIED 235-000- 00 117.00 10/30/2023 GEN 79815* ASGH PROPERTIES LLC DEP REFUND/APPLIED 235-000- 00 130.00 DEP REFUND/APPLIED 235-000- 00 178.75 HECK GEN 79815 TOTAL FOR FUND 1: 308.75 10/30/2023 GEN 79816 AURENTZ PROJECT RESTORATION LLC Install 2-2" Duct Joint Trench Oct 16- 107-366- 00 19,620.00 Install 2-2" Duct Oct 2nd 107-366- 00 9,728.00 HECK GEN 79816 TOTAL FOR FUND 1: 29,348.00 10/30/2023 GEN 79818*4 BORDER STATES ELECTRIC SUPPLY FUSE, ACORN, 5 AMP, GLRS 154-000- 00 43.70 KIT, SPLICE, (LONG), 1/0 15KV TO 42 SIR 154-000- 00 561. 90 SPLIT BOLT 48 KS-15 Cu BURNDY 154-000- 00 35.20 TAPE, VINYL MASTIC ROLL, 4" x 10 x 154-000- 00 83.06 Sales Tax Receivable - New 186-000- 00 41.64 Sales Tax Receivable - New 186-000- 00 2.42 Sales Tax Receivable - New 186-000- 00 5.71 Maint Power Prod Plant - Build 402-554- 01 2,186.23 11/20/2023 02:29 PM User: JMartig DE: Hutchinson Utili Check Date Bank Check # CHECK DISBURSEMENT REPORT FOR HUTCHINSON UTILITIES CHECK DATE FROM 10/19/2023 - 11/20/2023 Payee Description Account Dept Page 2/20 Amount Fund: 1 ELECTRIC BATTERY, SIZE D 401-581- 02 82.80 TAX 401-588- 02 5.69 HECK GEN 79818 TOTAL FOR FUND 1: 3,048.35 10/30/2023 GEN 79819* BROOKE MICKOLICHEK DEP REFUND/APPLIED 235-000- 00 130.00 10/30/2023 GEN 79820* BRUCE DANIELS DEP REFUND/APPLIED 235-000- 00 143.00 10/30/2023 GEN 79821* BRYAN BOYD DEP REFUND/APPLIED 235-000- 00 149.50 10/30/2023 GEN 79822* BUNNY BASSLER DEP REFUND/APPLIED 235-000- 00 162.50 10/30/2023 GEN 79823 CARLY'S SHOE STORE Uniforms & Laundry 401-588- 02 251.49 10/30/2023 GEN 79824* CAROLYN ROSS DEP REFUND/APPLIED 235-000- 00 65.00 10/30/2023 GEN 79825*4 CINTAS CORPORATION 4470 Uniforms & Laundry 401-550- 01 247.54 UNIFORMS & LAUNDRY 401-588- 02 151.33 HECK GEN 79825 TOTAL FOR FUND 1: 398.87 10/30/2023 GEN 79826 COOLING TOWER DEPOT Dog House, E. Cell Structure, Esc 107-341- 00 74,655.00 STRUCTURES & IMPROVEMENTS (BUI 107-341- 00 10.00 Sales Tax Receivable - Replace 186-000- 00 5,883.60 HECK GEN 79826 TOTAL FOR FUND 1: 80,548.60 10/30/2023 GEN 798274 DAKOTA SUPPLY GROUP ELBOW, FIBERGLASS, 2" IPS, .070" WALL, 154-000- 00 627.86 FREIGHT 401-588- 02 152.97 HECK GEN 79827 TOTAL FOR FUND 1: 780.83 10/30/2023 GEN 79828 DEBBIE RIGELMAN OVERPAYMENTS 142-000- 00 201.29 10/30/2023 GEN 79830 DGR ENGINEERING 3M Substation Relay and RTU Upgrades 107-362- 00 8,856.00 STATION EQUIPMENT (SWITCHGEAR, 107-362- 00 38.24 Hutchinson Substation 115kV rebuild 107-362- 00 1,932.00 STATION EQUIPMENT (SWITCHGEAR, 107-362- 00 76.13 HECK GEN 79830 TOTAL FOR FUND 1: 10,902.37 10/30/2023 GEN 79831* DOUG MOULTON DEP REFUND/APPLIED 235-000- 00 182.00 11/20/2023 02:29 PM User: JMartig DE: Hutchinson Utili Check Date Bank Check # CHECK DISBURSEMENT REPORT FOR HUTCHINSON UTILITIES CHECK DATE FROM 10/19/2023 - 11/20/2023 Payee Description Account Dept Page 3/20 Amount Fund: 1 ELECTRIC 10/30/2023 GEN 79832* ELISE PLATH DEP REFUND/APPLIED 235-000- 00 208.00 10/30/2023 GEN 79833* ERIK RIVERA DEP REFUND/APPLIED 235-000- 00 71.50 10/30/2023 GEN 79834* GAIL NELSON DEP REFUND/APPLIED 235-000- 00 117.00 10/30/2023 GEN 79835* GEORGE MCCONNELL OR MONICA DEP REFUND/APPLIED 235-000- 00 52.00 10/30/2023 GEN 79836 GREAT RIVER ENERGY TRANSMISSION EXPENSE 401-565- 03 126,878.51 10/30/2023 GEN 79837 HANSON & EASED CONSTRUCTION, INC UNDERGROUND CONDUIT & MANHOLES 107-366- 00 1,025.00 10/30/2023 GEN 79838 HOWARD J MEYER III OVERPAYMENTS 142-000- 00 31.18 10/30/2023 GEN 79839 HUSTON'S CRANE SERVICE, INC STRUCTURES & IMPROVEMENTS (BUI 107-341- 00 440.00 10/30/2023 GEN 79840*4 HUTCHINSON WHOLESALE SUPPLY CO Supplies 401-550- 01 11.75 10/30/2023 GEN 79841* JAKE CRUMB DEP REFUND/APPLIED 235-000- 00 71.50 10/30/2023 GEN 79842 JASMINE KRON OVERPAYMENTS 142-000- 00 39.62 10/30/2023 GEN 79843 JEFFREY GORDON OVERPAYMENTS 142-000- 00 172.76 10/30/2023 GEN 79844* KATIE KNAAK DEP REFUND/APPLIED 235-000- 00 87.75 10/30/2023 GEN 79845* KELLEY ESTES DEP REFUND/APPLIED 235-000- 00 227.50 10/30/2023 GEN 79846* KELLY BOLER DEP REFUND/APPLIED 235-000- 00 48.75 10/30/2023 GEN 79849* LAURA BELLIS DEP REFUND/APPLIED 235-000- 00 182.00 10/30/2023 GEN 79850* LAURIE HAWKINS-BELDEN DEP REFUND/APPLIED 235-000- 00 32.50 10/30/2023 GEN 798524 LOCATORS & SUPPLIES INC PAINT, LOCATING, INVERTED MARKING (256) 154-000- 00 99.96 Sales Tax Receivable - New 186-000- 00 8.91 FREIGHT 401-588- 02 29.63 HECK GEN 79852 TOTAL FOR FUND 1: 138.50 11/20/2023 02:29 PM User: JMartig DE: Hutchinson Utili Check Date Bank Check # CHECK DISBURSEMENT REPORT FOR HUTCHINSON UTILITIES CHECK DATE FROM 10/19/2023 - 11/20/2023 Payee Description Account Dept Page 4/20 Amount Fund: 1 ELECTRIC 10/30/2023 GEN 79853* LOGAN TEUBERT DEP REFUND/APPLIED 235-000- 00 65.00 10/30/2023 GEN 79855* MARTIG, JARED TRAINING - EXPENSE 401-930- 08 119.28 10/30/2023 GEN 79856 MATTHEW BANNOW OVERPAYMENTS 142-000- 00 257.89 10/30/2023 GEN 79857 MN MUNICIPAL UTILITIES ASSOCIATION DUES/MEMBERSHIP EXPENSE-QTR ELEC DUES 401-930- 08 8,366.75 10/30/2023 GEN 79860* NICK TWISS DEP REFUND/APPLIED 235-000- 00 39.00 10/30/2023 GEN 79863*4 O'REILLY AUTOMOTIVE INC Supplies 401-550- 01 45.18 10/30/2023 GEN 79864* PAIGE SCHILLING DEP REFUND/APPLIED 235-000- 00 182.00 10/30/2023 GEN 79865*4 PRO AUTO & TRANSMISSION REPAIR Vehicles - Material 402-554- 01 74.09 Vehicles - Material 402-554- 01 75.96 VEHICLES - MATERIAL-ELEC 402-598- 02 1,108.68 HECK GEN 79865 TOTAL FOR FUND 1: 1,258.73 10/30/2023 GEN 798664 PRO ENERGY SERVICES LLC Overhaul Fuel Nozzles 402-554- 01 12,600.00 FREIGHT 401-588- 02 111.15 HECK GEN 79866 TOTAL FOR FUND 1: 12,711.15 10/30/2023 GEN 79867* RADKE, ANGIE Training - Expense 401-930- 08 32.09 10/30/2023 GEN 79868* RELIANCE STANDARD LIFE -LIFE LTD INSURANCE-80o ELEC 242-000- 00 1, 649. 85 LIFE INSURANCE-80o ELEC 242-000- 00 1,060.16 HECK GEN 79868 TOTAL FOR FUND 1: 2,710.01 10/30/2023 GEN 79869* RIVER HOUSE KITCHEN + DRINKS LLP DEP REFUND/APPLIED 235-000- 00 1,592.50 10/30/2023 GEN 79870*4 RUNNING'S SUPPLY INC Supplies 401-550- 01 118.82 Supplies 401-550- 01 68.95 Other Equipment - Labor 402-598- 02 107.86 Grounds - Materials 401-935- 08 20.48 HECK GEN 79870 TOTAL FOR FUND 1: 316.11 10/30/2023 GEN 79873* RYLEE BENNETT OR MARC SALAZAR DEP REFUND/APPLIED 235-000- 00 208.00 11/20/2023 02:29 PM CHECK DISBURSEMENT REPORT FOR HUTCHINSON UTILITIES Page 5/20 User: JMartig CHECK DATE FROM 10/19/2023 - 11/20/2023 DE: Hutchinson Utili Check Date Bank Check # Payee Description Account Dept Amount Fund: 1 ELECTRIC 10/30/2023 GEN 79875* SETH RICE OR MASON TANK GET REFUND/APPLIED 235-000- 00 52.00 10/30/2023 GEN 79876* SHARON STORK GET REFUND/APPLIED 235-000- 00 71.50 10/30/2023 GEN 79877* SHRED RIGHT OFFICE SUPPLIES -SHREDDING SERVICES 401-921- 08 15.76 10/30/2023 GEN 79878 STATE OF MINNESOTA Regulatory Expenses 401-928- 08 1,687.15 10/30/2023 GEN 79879 STEVE POTTER OVERPAYMENTS 142-000- 00 96. 90 10/30/2023 GEN 79880* STUARDO SANCHEZ GET REFUND/APPLIED 235-000- 00 45.50 10/30/2023 GEN 79882* TONY CHRISTIANSEN GET REFUND/APPLIED 235-000- 00 162.50 10/30/2023 GEN 79883* TORIN STEVENS GET REFUND/APPLIED 235-000- 00 42.25 10/30/2023 GEN 79884* UNITED INFORMATION SERVICES, INC COLLECTION - MATERIALS 401-903- 06 2,003.86 10/30/2023 GEN 79885* VERIZON WIRELESS TELEPHONE 401-921- 08 234.14 10/30/2023 GEN 798864 VOLCO COMPANY SWITCH, FLOW EXHAUST VENTILATOR 154-000- 00 762.00 Sales Tax Receivable - Replace 186-000- 00 62.31 FREIGHT 401-588- 02 29.22 HECK GEN 79886 TOTAL FOR FUND 1: 853.53 10/30/2023 GEN 79887* WAYNE AAMODT GET REFUND/APPLIED 235-000- 00 48.75 10/30/2023 GEN 79888 WHEELHOUSE INDUSTRIAL Plant 2 Ladder Access Install 107-341- 00 45,383.86 STRUCTURES & IMPROVEMENTS (BUI 107-341- 00 56.12 Sales Tax Receivable - Replace 186-000- 00 3,124.00 HECK GEN 79888 TOTAL FOR FUND 1: 48,563.98 10/30/2023 GEN 79889* YESENIA BORJON GET REFUND/APPLIED 235-000- 00 52.00 11/14/2023 GEN 79891*4 ACE HARDWARE Sales Tax Receivable - Replace 186-000- 00 1.34 Supplies 401-550- 01 164.92 Supplies 401-550- 01 119.40 11/20/2023 02:29 PM CHECK DISBURSEMENT REPORT FOR HUTCHINSON UTILITIES Page 6/20 User: JMartig CHECK DATE FROM 10/19/2023 - 11/20/2023 DE: Hutchinson Utili Check Date Bank Check # Payee Description Account Dept Amount Fund: 1 ELECTRIC Supplies 401-550- 01 27.77 Supplies 401-550- 01 37.52 Supplies 401-550- 01 17.09 Supplies 401-550- 01 28.85 Supplies 401-550- 01 11.73 Accessory Plant - Materials 402-554- 01 19.56 Maintenance Other - Materials 402-554- 01 29.91 Maintenance Other - Materials 402-554- 01 26.71 Line - Materials 401-581- 02 7.47 Line - Materials 401-581- 02 14.95 Grounds - Materials 401-935- 08 74.24 HECK GEN 79891 TOTAL FOR FUND 1: 581.46 11/14/2023 GEN 798924 AERODERIVATIVE GAS TURBINE 5CG94 Ring Packing Quote C109347 402-554- 01 570.00 P701-151-37 Oring Quote C109347 402-554- 01 120.00 FREIGHT 401-588- 02 24.56 HECK GEN 79892 TOTAL FOR FUND 1: 714.56 11/14/2023 GEN 79893 ALTEC INDUSTRIES INC Vehicles - Material 402-598- 02 2,088.32 11/14/2023 GEN 79894* AMERICAN PAYMENT CENTERS INC BOX RENTAL 401-903- 06 51.14 11/14/2023 GEN 79896 APR STORAGE OVERPAYMENTS 142-000- 00 810.06 11/14/2023 GEN 79899* BIRCHDALE FIRE & SAFETY GROUNDS - OUTSIDE SERVICES 401-935- 08 117.84 11/14/2023 GEN 79900 BLUE ZONE HOLDINGS OVERPAYMENTS 142-000- 00 269. 15 11/14/2023 GEN 79901*4 BORDER STATES ELECTRIC SUPPLY FUSE, ACORN, 5 AMP, GLRS 154-000- 00 65.55 INHIBITOR, OXIDE, DE-OX, 8 OF, ILSCO 154-000- 00 23.19 INHIBITOR, OXIDE, DE-OX, 8 OF, ILSCO 154-000- 00 7.73 TAPE, 33+SUPER-1-1/2X36YD 154-000- 00 112.02 Sales Tax Receivable - New 186-000- 00 4.51 Sales Tax Receivable - New 186-000- 00 1.59 Sales Tax Receivable - New 186-000- 00 0.53 TAX 401-588- 02 7.70 HECK GEN 79901 TOTAL FOR FUND 1: 222.82 11/14/2023 GEN 79902 BBANDI CROSBY OVERPAYMENTS 142-000- 00 24.40 11/14/2023 GEN 799054 CARR'S TREE SERVICE OVERHEAD CONDUCTOR 107-365- 00 2,202.75 OVERHEAD CONDUCTOR 107-365- 00 4,988.00 11/20/2023 02:29 PM User: JMartig DE: Hutchinson Utili Check Date Bank Check # Payee Fund: 1 ELECTRIC CHECK DISBURSEMENT REPORT FOR HUTCHINSON UTILITIES CHECK DATE FROM 10/19/2023 - 11/20/2023 Description 11/14/2023 GEN 79906 CARTWRIGHT & ASSOCIATES 11/14/2023 GEN 799074 CENTRAL HYDRAULICS 11/14/2023 GEN 79910* CHRISTINE CAVANAUGH 11/14/2023 GEN 79912*4 CINTAS CORPORATION 4470 11/14/2023 GEN 79913*4 CITY OF HUTCHINSON 11/14/2023 GEN 79915* DAN ZENNER 11/14/2023 GEN 79916 DANIELLE FLOOR 11/14/2023 GEN 79917* DELORES OLSON 11/14/2023 GEN 79918 DESIGN ELECTRIC, INC 11/14/2023 GEN 79919 DGR ENGINEERING 11/14/2023 GEN 79921*4 FASTENAL COMPANY Page 7/20 Account Dept Amount Sales Tax Receivable - New 186-000- 00 151.44 Sales Tax Receivable - New 186-000- 00 342.93 Materials 401-588- 02 1,801.75 HECK GEN 79905 TOTAL FOR FUND 1: 9,486.87 XML Service Quote for Hutchinson QTR 3 402-554- 01 1,750.00 Sales Tax Receivable - Replace 186-000- 00 0.16 Generator 41 Material 402-554- 01 2.33 HECK GEN 79907 TOTAL FOR FUND 1: 2.49 Cip - Residential 401-916- 07 150.00 Uniforms & Laundry 401-550- 01 247.54 Uniforms & Laundry 401-550- 01 248.06 UNIFORMS & LAUNDRY 401-588- 02 151.33 UNIFORMS & LAUNDRY 401-588- 02 151.45 HECK GEN 79912 TOTAL FOR FUND 1: 798.38 VEHICLE/EQUIPMENT FUEL -POWER 401-550- 01 254.99 Maintenance Other - Materials 402-554- 01 1,387.60 VEHICLES/EQUIPMENT FUEL-ELEC 401-588- 02 2,237.10 VEHICLES/EQUIPMENT FUEL-ADMIN 55/45 401-935- 08 56.05 HECK GEN 79913 TOTAL FOR FUND 1: 3,935.74 Cip - Residential 401-916- 07 25.00 OVERPAYMENTS 142-000- 00 62.33 Cip - Residential 401-916- 07 1,200.00 Maintenance Other - Materials 402-554- 01 115.81 Hutchinson Substation 115kV rebuild 107-362- 00 8,904.00 STATION EQUIPMENT (SWITCHGEAR, 107-362- 00 43.00 HECK GEN 79919 TOTAL FOR FUND 1: 8,947.00 Sales Tax Receivable - Replace 186-000- 00 2.61 Supplies 401-550- 01 21.89 11/20/2023 02:29 PM User: JMartig DE: Hutchinson Utili Check Date Bank Check # CHECK DISBURSEMENT REPORT FOR HUTCHINSON UTILITIES CHECK DATE FROM 10/19/2023 - 11/20/2023 Payee Description Account Dept Page 8/20 Amount Fund: 1 ELECTRIC Accessory Plant - Materials 402-554- 01 87.92 HECK GEN 79921 TOTAL FOR FUND 1: 112.42 11/14/2023 GEN 79922* FIRST CHOICE FOOD & BEVERAGE BREAKROOM/RECOGNITION BANQUET 401-926- 08 202.50 11/14/2023 GEN 79923*4 GOPHER STATE ONE -CALL INC Line - Materials 401-581- 02 240.98 11/14/2023 GEN 79926 HER ENGINEERING INC Outside Services 402-554- 01 1,444.86 11/14/2023 GEN 79927* HEALTH PARTNERS HEALTH INSURANCE-85o ELEC 242-000- 00 50,167.51 HEALTH INSURANCE -COBRA 242-000- 00 1,354.32 HECK GEN 79927 TOTAL FOR FUND 1: 51,521.83 11/14/2023 GEN 79928*4 HILLYARD/HUTCHINSON Supplies 401-550- 01 179.98 Grounds - Materials 401-935- 08 308.33 HECK GEN 79928 TOTAL FOR FUND 1: 488.31 11/14/2023 GEN 79929* HOLLY RUSTAD collection - Materials 401-903- 06 233.75 11/14/2023 GEN 79930* HUTCHFIELD SERVICES Grounds - Outside Services 401-935- 08 1,093.21 11/14/2023 GEN 799324 HUTCHINSON WHOLESALE SUPPLY CO Sales Tax Receivable - Replace 186-000- 00 10.73 Accessory Plant - Materials 402-554- 01 156.04 Materials 401-588- 02 16.55 HECK GEN 79932 TOTAL FOR FUND 1: 183.32 11/14/2023 GEN 799334 INDELCO PLASTICS CORPORATION SKU # 1088KPG, 1/2 tube to 1/2 MNPT 402-554- 01 62.50 FREIGHT 401-588- 02 13.50 HECK GEN 79933 TOTAL FOR FUND 1: 76.00 11/14/2023 GEN 79934 IRBY TOOL & SAFETY Uniforms & Laundry 401-588- 02 449.67 11/14/2023 GEN 79935 JEREMY OR DENNIS MCCUTCHEN OVERPAYMENTS 142-000- 00 111.18 11/14/2023 GEN 799364 JOHN HENRY FOSTER VALVE, SOLENOID, (ZEKS DRYER) 154-000- 00 325.31 Sales Tax Receivable - Replace 186-000- 00 27.27 FREIGHT 401-588- 02 20.90 HECK GEN 79936 TOTAL FOR FUND 1: 373.48 11/20/2023 02:29 PM User: JMartig DE: Hutchinson Utili Check Date Bank Check # Payee CHECK DISBURSEMENT REPORT FOR HUTCHINSON UTILITIES CHECK DATE FROM 10/19/2023 - 11/20/2023 Description Fund: 1 ELECTRIC 11/14/2023 GEN 79937* JOHNSON, LORI 11/14/2023 GEN 79938 JON OR DAWN WHEELER 11/14/2023 GEN 79939 KATHLEEN SOLHEIM 11/14/2023 GEN 79940* KIM FREEMAN 11/14/2023 GEN 799424 KURITA AMERICA INC 11/14/2023 GEN 79943 L & Z PROPERTIES 11/14/2023 GEN 79945 LINDA RETKA 11/14/2023 GEN 79947*4 LOCATORS & SUPPLIES INC 11/14/2023 GEN 79948* MADDEN GALANTER HANSEN 11/14/2023 GEN 79949 MADYSON BJORGE OR AUSTIN LAND 11/14/2023 GEN 79950* MARCO TECHNOLOGIES, LLC 11/14/2023 GEN 799514 MATHESON TRI-GAS INC 11/14/2023 GEN 799524 MCC ENERGY SOLUTIONS, LLC Page 9/20 Account Dept Amount Meetings & Travel - Expense (S 401-903- 06 924.51 OVERPAYMENTS 142-000- 00 0.86 OVERPAYMENTS 142-000- 00 94.17 Cip - Residential 401-916- 07 150.00 Sales Tax Receivable - Replace 186-000- 00 10.59 Accessory Plant - Materials 402-554- 01 154.00 HECK GEN 79942 TOTAL FOR FUND 1: 164.59 OVERPAYMENTS 142-000- 00 242.49 OVERPAYMENTS 142-000- 00 122.82 HECK GEN 79943 TOTAL FOR FUND 1: 365.31 OVERPAYMENTS 142-000- 00 47.33 PAINT, LOCATING, INVERTED MARKING (256) 154-000- 00 623.52 Sales Tax Receivable - New 186-000- 00 47.59 SAFETY GLASSES, GRAY, SILVER MIRROR, 401-550- 01 39.90 FREIGHT 401-588- 02 68.81 TAX & FREIGHT 401-588- 02 15.20 SAFETY GLASSES, GRAY, SILVER MIRROR, 401-588- 02 39. 90 HECK GEN 79947 TOTAL FOR FUND 1: 834.92 Legal Services 401-923- 08 1,539.22 OVERPAYMENTS 142-000- 00 57.25 OFFICE SUPPLIES 401-921- 08 521.68 Sales Tax Receivable - Replace 186-000- 00 14.43 Generator 41 Material 402-554- 01 209.90 HECK GEN 79951 TOTAL FOR FUND 1: 224.33 I AM MANAGEMENT FEES 401-555- 02 3,900.00 IAM USAGE FEES 401-556- 03 3,050.00 CHECK GEN 79952 TOTAL FOR FUND 1: 6,950.00 11/20/2023 02:29 PM User: JMartig DE: Hutchinson Utili Check Date Bank Check # Payee CHECK DISBURSEMENT REPORT FOR HUTCHINSON UTILITIES CHECK DATE FROM 10/19/2023 - 11/20/2023 Description Fund: 1 ELECTRIC 11/14/2023 GEN 79953 MIAMAH DENNIS 11/14/2023 GEN 79954 MID -STATE ROLL -OFF SERVICE 11/14/2023 GEN 79955 NDM RESTAURANT LLC 11/14/2023 GEN 79956 NICOLE DEAL 11/14/2023 GEN 79959* NUVERA 11/14/2023 GEN 79960*4 OXYGEN SERVICE COMPANY INC 11/14/2023 GEN 79961* PETER WHITE Account Dept Page 10/20 Amount OVERPAYMENTS 142-000- 00 5.16 STRUCTURES & IMPROVEMENTS (BUI 107-341- 00 1,136.00 OVERPAYMENTS 142-000- 00 2,191.17 Cip - Residential 401-916- 07 200.00 TELEPHONE 401-921- 08 1,912.13 Supplies 401-550- 01 107.64 Supplies 401-550- 01 81.86 HECK GEN 79960 TOTAL FOR FUND 1: 189.50 Cip - Residential 401-916- 07 25.00 Cip - Residential 401-916- 07 150.00 HECK GEN 79961 TOTAL FOR FUND 1: 175.00 11/14/2023 GEN 79962* PREMIUM WATERS INC OFFICE SUPPLIES -BOTTLED WATER 401-921- 08 11/14/2023 GEN 79963 PRO AUTO & TRANSMISSION REPAIR Vehicles - Material 402-554- 01 11/14/2023 GEN 79965 KID EQUIPMENT Power Equipment - Materials 402-598- 02 11/14/2023 GEN 79967* ROBBIE PETERSON Cip - Residential 401-916- 07 11/14/2023 GEN 79968 ROGER MACKEDANZ OR MARY LYNNE COX OVERPAYMENTS 142-000- 00 11/14/2023 GEN 799704 RUNNING'S SUPPLY INC Sales Tax Receivable - Replace 186-000- 00 Accessory Plant - Materials 402-554- 01 Maintenance Other - Materials 402-554- 01 HECK GEN 79970 TOTAL FOR FUND 1: 11/14/2023 GEN 79971 SARA GEISER OVERPAYMENTS 142-000- 00 11/14/2023 GEN 79972 SC SUPPLY COMPANY, LLC CONES, TRAFFIC, 28", ORANGE, BLACK BASE 154-000- 00 11/14/2023 GEN 79973* SHRED RIGHT OFFICE SUPPLIES -SHREDDING SERVICES 401-921- 08 11/14/2023 GEN 79974 SNOW WHITE COTTAGES OVERPAYMENTS 142-000- 00 11/14/2023 GEN 79976* SURVALENT TECHNOLOGY, INC Silver scada support plan 401-921- 08 11/14/2023 GEN 79977 THE ELEGANT EDGE OVERPAYMENTS 142-000- 00 16.74 70.07 5,515.51 300.00 85.17 1.61 20.48 2.00 789.14 15.76 214.49 10,049.99 160.13 11/20/2023 02:29 PM User: JMartig DE: Hutchinson Utili Check Date Bank Check # Payee CHECK DISBURSEMENT REPORT FOR HUTCHINSON UTILITIES CHECK DATE FROM 10/19/2023 - 11/20/2023 Description Fund: 1 ELECTRIC 11/14/2023 GEN 79981 TOWN & COUNTRY FENCE 11/14/2023 GEN 79982 TRICIA SHEGGEBY 11/14/2023 GEN 79983* UNITED PARCEL SERVICE 11/14/2023 GEN 79984* VERIZON WIRELESS 11/14/2023 GEN 79985*4 WEST CENTRAL SANITATION INC Account Dept Page 11/20 Amount Install Chain link around CT Ladder 107-341- 00 4,800.00 Cip - Residential 401-916- 07 1,200.00 MAIL SERVICES - UPS, FEDEX 401-921- 08 88.49 TELEPHONE 401-921- 08 1,069.66 GENERATOR 41 WATER & SEWER -INDUSTRIAL 401-547- 01 111.84 WASTE DISPOSAL-4TH AVE 401-550- 01 180.58 UTILITY ESP - WATER/WASTE 55/45- 401-930- 08 272.86 HECK GEN 79985 TOTAL FOR FUND 1: 565.28 Total for fund 1 ELECTRIC 472,726.56 11/20/2023 02:29 PM CHECK DISBURSEMENT REPORT FOR HUTCHINSON UTILITIES Page 12/20 User: JMartig CHECK DATE FROM 10/19/2023 - 11/20/2023 DE: Hutchinson Utili Check Date Bank Check # Payee Description Account Dept Amount Fund: 2 GAS 10/25/2023 GEN 79805 POPLAR GROVE FARMS LLC M & R STATION EQUIPMENT 107-369- 00 1,000.00 10/30/2023 GEN 79807* A R ENGH HEATHING AND AIR COND, Grounds - Materials 401-935- 08 100.00 10/30/2023 GEN 79808* AARON SHOWALTER DEP REFUND/APPLIED 235-000- 00 84.00 10/30/2023 GEN 79809*4 ACE HARDWARE Materials 401-874- 04 256.04 Materials 401-874- 04 27.77 Materials 402-892- 04 18.85 Materials 402-892- 04 11.95 HECK GEN 79809 TOTAL FOR FUND 2: 314.61 10/30/2023 GEN 79811* AMANDA BIJOLD DEP REFUND/APPLIED 235-000- 00 127.75 10/30/2023 GEN 798134 ANIXTER INC TAX & FREIGHT 401-874- 04 222.01 TAX & FREIGHT 401-874- 04 137.87 Belden 18ga/4C cable. 401-856- 05 1,259.11 Belden 18ga/2C cable. 401-856- 05 692.96 Belden 24ga/7C cable. 401-856- 05 545.68 HECK GEN 79813 TOTAL FOR FUND 2: 2,857.63 10/30/2023 GEN 79814* ARIANA DUNCAN DEP REFUND/APPLIED 235-000- 00 63.00 10/30/2023 GEN 79815* ASGH PROPERTIES LLC DEP REFUND/APPLIED 235-000- 00 70.00 DEP REFUND/APPLIED 235-000- 00 96.25 HECK GEN 79815 TOTAL FOR FUND 2: 166.25 10/30/2023 GEN 79817 AV8 FLIGHT SCHOOL Line - Outside Services 401-856- 05 1,607.76 10/30/2023 GEN 79818*4 BORDER STATES ELECTRIC SUPPLY PLUG, SQ HEAD, MALE THRD, 3/4", FORGED 154-000- 00 8.82 WIRE, 410 SOLID BARE CU, WITH 45 MILS 154-000- 00 770.00 TAX 401-874- 04 50.99 BATTERY, SIZE D 402-892- 04 82.80 HECK GEN 79818 TOTAL FOR FUND 2: 922.61 10/30/2023 GEN 79819* BROOKE MICKOLICHEK DEP REFUND/APPLIED 235-000- 00 70.00 10/30/2023 GEN 79820* BRUCE DANIELS DEP REFUND/APPLIED 235-000- 00 77.00 11/20/2023 02:29 PM User: JMartig DE: Hutchinson Utili Check Date Bank Check # CHECK DISBURSEMENT REPORT FOR HUTCHINSON UTILITIES CHECK DATE FROM 10/19/2023 - 11/20/2023 Payee Description Account Dept Page 13/20 Amount Fund: 2 GAS 10/30/2023 GEN 79821* BRYAN BOYD DEP REFUND/APPLIED 235-000- 00 80.50 10/30/2023 GEN 79822* BUNNY BASSLER DEP REFUND/APPLIED 235-000- 00 87.50 10/30/2023 GEN 79824* CAROLYN ROSS DEP REFUND/APPLIED 235-000- 00 35.00 10/30/2023 GEN 79825*4 CINTAS CORPORATION 4470 UNIFORMS & LAUNDRY 401-880- 04 99.59 10/30/2023 GEN 79829 DESIGN ELECTRIC, INC Materials 401-856- 05 1,244.70 Utilities (Electric, Satellite 401-856- 05 1,005.24 HECK GEN 79829 TOTAL FOR FUND 2: 2,249.94 10/30/2023 GEN 79831* DOUG MOULTON DEP REFUND/APPLIED 235-000- 00 98.00 10/30/2023 GEN 79832* ELISE PLATH DEP REFUND/APPLIED 235-000- 00 112.00 10/30/2023 GEN 79833* ERIK RIVERA DEP REFUND/APPLIED 235-000- 00 38.50 10/30/2023 GEN 79834* GAIL NELSON DEP REFUND/APPLIED 235-000- 00 63.00 10/30/2023 GEN 79835* GEORGE MCCONNELL OR MONICA DEP REFUND/APPLIED 235-000- 00 28.00 10/30/2023 GEN 79840*4 HUTCHINSON WHOLESALE SUPPLY CO Materials 402-892- 04 18.66 10/30/2023 GEN 79841* JAKE CRUMB DEP REFUND/APPLIED 235-000- 00 38.50 10/30/2023 GEN 79844* KATIE KNAAK DEP REFUND/APPLIED 235-000- 00 47.25 10/30/2023 GEN 79845* KELLEY ESTES DEP REFUND/APPLIED 235-000- 00 122.50 10/30/2023 GEN 79846* KELLY BOLER DEP REFUND/APPLIED 235-000- 00 26.25 10/30/2023 GEN 79847 KURTH WELDING & REPAIR SERVICES 107-380- 00 201.00 10/30/2023 GEN 79848 LAKE SUPERIOR CONSULTING LLC Outside Service - Painting 402-892- 04 3,113.57 11/20/2023 02:29 PM CHECK DISBURSEMENT REPORT FOR HUTCHINSON UTILITIES Page 14/20 User: JMartig CHECK DATE FROM 10/19/2023 - 11/20/2023 DE: Hutchinson Utili Check Date Bank Check # Payee Description Account Dept Amount Fund: 2 GAS 10/30/2023 GEN 79849* LAURA BELLIS DEP REFUND/APPLIED 235-000- 00 98.00 10/30/2023 GEN 79850* LAURIE HAWKINS-BELDEN DEP REFUND/APPLIED 235-000- 00 17.50 10/30/2023 GEN 79851 LIEN, MIKE Training - Expense 401-870- 04 142.24 10/30/2023 GEN 79853* LOGAN TEUBERT DEP REFUND/APPLIED 235-000- 00 35.00 10/30/2023 GEN 79854 MAIERS, MATTHEW Training - Expense 401-870- 04 133.02 10/30/2023 GEN 79855* MARTIG, JARED TRAINING - EXPENSE 401-930- 08 39.76 10/30/2023 GEN 79858 MRC GLOBAL M & R STATION EQUIPMENT 107-369- 00 452.81 10/30/2023 GEN 798594 NELSON TECHNOLOGIES INC EFM Building. 10' x 10' x 8' Eave 107-369- 00 10,000.00 Electrical Package (nonhazardous) 107-369- 00 1,500.00 TAX 401-874- 04 790.63 HECK GEN 79859 TOTAL FOR FUND 2: 12,290.63 10/30/2023 GEN 79860* NICK TWISS DEP REFUND/APPLIED 235-000- 00 21.00 10/30/2023 GEN 79861 NORTHERN STATES SUPPLY INC Materials 401-874- 04 154.73 10/30/2023 GEN 798624 NOVASPECT INC FB107 6 IT IO MODULE 107-370- 00 1,230.40 FREIGHT 401-874- 04 30.26 Materials 402-892- 04 1,674.41 Materials 402-892- 04 395.18 Materials 402-892- 04 3,801.75 HECK GEN 79862 TOTAL FOR FUND 2: 7,132.00 10/30/2023 GEN 79863*4 O'REILLY AUTOMOTIVE INC Vehicles - Material 402-895- 04 302.62 10/30/2023 GEN 79864* PAIGE SCHILLING DEP REFUND/APPLIED 235-000- 00 98.00 10/30/2023 GEN 79865*4 PRO AUTO & TRANSMISSION REPAIR Vehicles - Material 402-895- 04 481.02 Vehicles - Material 402-895- 04 224.12 HECK GEN 79865 TOTAL FOR FUND 2: 705.14 10/30/2023 GEN 79867* RADKE, ANGIE Training - Expense 401-930- 08 32.10 11/20/2023 02:29 PM CHECK DISBURSEMENT REPORT FOR HUTCHINSON UTILITIES User: JMartig CHECK DATE FROM 10/19/2023 - 11/20/2023 DE: Hutchinson Utili Check Date Bank Check # Payee Description Fund: 2 GAS 10/30/2023 GEN 79868* RELIANCE STANDARD LIFE -LIFE LTD INSURANCE-20o GAS LIFE INSURANCE-20o GAS HECK GEN 79868 TOTAL FOR FUND 2: 10/30/2023 GEN 79869* RIVER HOUSE KITCHEN + DRINKS LLP DEP REFUND/APPLIED 10/30/2023 GEN 79870*4 RUNNING'S SUPPLY INC Grounds - Materials 10/30/2023 GEN 798714 RUSCH, BRYCE Vehicle/Equipment Fuel Public Awareness - Labor HECK GEN 79871 TOTAL FOR FUND 2: 10/30/2023 GEN 79872 RUSCH, JUSTIN Training - Expense 10/30/2023 GEN 79873* RYLEE BENNETT OR MARC SALAZAR DEP REFUND/APPLIED 10/30/2023 GEN 798744 SAGINAW CONTROL & ENGINEERING WFLP Enclosure Subpanel FREIGHT HECK GEN 79874 TOTAL FOR FUND 2: 10/30/2023 GEN 79875* SETH RICE OR MASON TANK 10/30/2023 GEN 79876* SHARON STORK 10/30/2023 GEN 79877* SHRED RIGHT 10/30/2023 GEN 79880* STUARDO SANCHEZ 10/30/2023 GEN 798814 TDW (US) INC DEP REFUND/APPLIED DEP REFUND/APPLIED OFFICE SUPPLIES -SHREDDING SERVICES DEP REFUND/APPLIED 36-2050-1206-30, Stopple Tee, 12" x 12313809, LOCK-O-RING, Ring Flow Estimated Products Freight TAX HECK GEN 79881 TOTAL FOR FUND 2: Account Dept 242-000- 00 242-000- 00 235-000- 00 401-935- 08 401-880- 04 401-856- 05 401-870- 04 235-000- 00 107-370- 00 107-370- 00 401-874- 04 235-000- 00 235-000- 00 401-921- 08 235-000- 00 107-369- 00 107-369- 00 107-369- 00 401-874- 04 10/30/2023 GEN 79882* TONY CHRISTIANSEN DEP REFUND/APPLIED 235-000- 00 Page 15/20 Amount 412.46 265.04 677.50 857.50 20.49 83.00 228.01 311.01 46.24 112.00 586.08 111.82 816.01 28.00 38.50 5.25 24.50 10,640.00 4,921.00 212.00 16,857.39 87.50 11/20/2023 02:29 PM CHECK DISBURSEMENT REPORT FOR HUTCHINSON UTILITIES User: JMartig CHECK DATE FROM 10/19/2023 - 11/20/2023 DE: Hutchinson Utili Check Date Bank Check # Payee Description Account Dept Fund: 2 GAS 10/30/2023 GEN 79883* TORIN STEVENS DEP REFUND/APPLIED 235-000- 00 10/30/2023 GEN 79884* UNITED INFORMATION SERVICES, INC COLLECTION - MATERIALS 401-903- 06 10/30/2023 GEN 79885* VERIZON WIRELESS TELEPHONE 401-921- 08 10/30/2023 GEN 79887* WAYNE AAMODT DEP REFUND/APPLIED 235-000- 00 10/30/2023 GEN 79889* YESENIA BORJON DEP REFUND/APPLIED 235-000- 00 11/14/2023 GEN 79891*4 ACE HARDWARE COMMUNICATION EQUIPMENT 107-370- 00 Materials 402-892- 04 Materials 402-892- 04 Materials 402-892- 04 Other Equipment - Materials 402-895- 04 Grounds - Materials 401-935- 08 HECK GEN 79891 TOTAL FOR FUND 2: 11/14/2023 GEN 79894* AMERICAN PAYMENT CENTERS INC 11/14/2023 GEN 79895 ANDY ROHLIK 11/14/2023 GEN 79897 ARKEMA, INC 11/14/2023 GEN 79898 ARON BASAL 11/14/2023 GEN 79899* BIRCHDALE FIRE & SAFETY 11/14/2023 GEN 79901*4 BORDER STATES ELECTRIC SUPPLY BOX RENTAL 401-903- 06 Cip - Residential 401-916- 07 Odorant 401-880- 04 Cip - Residential 401-916- 07 GROUNDS - OUTSIDE SERVICES 401-935- 08 GREASE, VALVE, VAL-TEX P/N 750-J 154-000- 00 TAPE, TEFLON, 1/2" X 260", HIGH 154-000- 00 NIPPLE, 1/2" X 2", BM, STD, SMLS, TEE 154-000- 00 COUPLING, ELECTROFUSION, 4" IPS, MDPE, 154-000- 00 UNION, INSULATING, GRND JOINT, CLASS 154-000- 00 METER BAR, AY MCDONALD CAST IRON, 154-000- 00 TAX 401-874- 04 TAX 401-874- 04 TAX 401-874- 04 TAX 401-874- 04 TAX 401-874- 04 Page 16/20 Amount 22.75 1,639.52 78.04 26.25 28.00 3.21 9.18 5.33 19.18 49.31 160.44 41.84 350.00 7,737.49 350.00 96.42 219.65 19.60 6.56 141.66 69.88 1,417.60 15.10 1.80 9.74 4.80 97.46 11/20/2023 02:29 PM User: JMartig DE: Hutchinson Utili Check Date Bank Check # Payee CHECK DISBURSEMENT REPORT FOR HUTCHINSON UTILITIES CHECK DATE FROM 10/19/2023 - 11/20/2023 Description Fund: 2 GAS 11/14/2023 GEN 79903 BRAUN INTERTEC CORPORATION 11/14/2023 GEN 79904 BROWN COUNTY RURAL ELECTRIC 11/14/2023 GEN 79908 CENTURYLINK 11/14/2023 GEN 79909 CHERRYROAD MEDIA 11/14/2023 GEN 79910* CHRISTINE CAVANAUGH 11/14/2023 GEN 79911 CINDY LARSON 11/14/2023 GEN 79912*4 CINTAS CORPORATION 4470 11/14/2023 GEN 79913*4 CITY OF HUTCHINSON 11/14/2023 GEN 79914 CRYSTEEL TRUCK EQUIPMENT 11/14/2023 GEN 79915* DAN ZENNER 11/14/2023 GEN 79917* DELORES OLSON 11/14/2023 GEN 79920 EHLERS & ASSOCIATES, INC 11/14/2023 GEN 79921*4 FASTENAL COMPANY 11/14/2023 GEN 79922* FIRST CHOICE FOOD & BEVERAGE 11/14/2023 GEN 79923*4 GOPHER STATE ONE -CALL INC Account Dept Page 17/20 Amount HECK GEN 79901 TOTAL FOR FUND 2: 2,003.85 M & R STATION EQUIPMENT 107-369- 00 7,204.15 Utilities (Electric, Satellite 401-856- 05 159.76 Utilities (Electric, Satellite 401-856- 05 69.05 Public Awareness - Material 401-856- 05 95.00 Cip - Residential 401-916- 07 650.00 Cip - Residential 401-916- 07 300.00 UNIFORMS & LAUNDRY 401-880- 04 99.59 UNIFORMS & LAUNDRY 401-880- 04 99. 91 HECK GEN 79912 TOTAL FOR FUND 2: 199.50 VEHICLE/EQUIPMENT FUEL -GAS 401-880- 04 3, 094.54 VEHICLES/EQUIPMENT FUEL-ADMIN 55/45 401-935- 08 45.86 HECK GEN 79913 TOTAL FOR FUND 2: 3,140.40 Fiberline Fiberglass Utility Body with 107-392- 00 13,670.00 Transportation Equipment 107-392- 00 1,879.63 Transportation Equipment 107-392- 00 5,634.45 HECK GEN 79914 TOTAL FOR FUND 2: 21,184.08 Cip - Residential 401-916- 07 50.00 Cip - Residential 401-916- 07 350.00 Bond Service Fees 427-000- 08 475.00 Materials 402-892- 04 29.74 BREAKROOM/RECOGNITION BANQUET 401-926- 08 67.50 Materials 401-874- 04 240.97 Line - Outside Services 401-856- 05 43.20 HECK GEN 79923 TOTAL FOR FUND 2: 284.17 11/20/2023 02:29 PM User: JMartig DE: Hutchinson Utili Check Date Bank Check # Payee CHECK DISBURSEMENT REPORT FOR HUTCHINSON UTILITIES CHECK DATE FROM 10/19/2023 - 11/20/2023 Description Fund: 2 GAS 11/14/2023 GEN 79924 GREG EWING 11/14/2023 GEN 799254 HANSEN GRAVEL INC 11/14/2023 GEN 79927* HEALTH PARTNERS 11/14/2023 GEN 79928*4 HILLYARD/HUTCHINSON 11/14/2023 GEN 79929* HOLLY RUSTAD 11/14/2023 GEN 79930* HUTCHFIELD SERVICES 11/14/2023 GEN 79931 HUTCHINSON CO-OP 11/14/2023 GEN 79937* JOHNSON, LORI 11/14/2023 GEN 79940* KIM FREEMAN 11/14/2023 GEN 799414 KOONS GAS MEASUREMENT 11/14/2023 GEN 79944 LAKE SUPERIOR CONSULTING LLC 11/14/2023 GEN 79946 LINDA STACEY 11/14/2023 GEN 79947*4 LOCATORS & SUPPLIES INC Account Dept Page 18/20 Amount Cip - Residential 401-916- 07 350.00 MAINS 107-376- 00 52.37 Materials 402-892- 04 376.20 HECK GEN 79925 TOTAL FOR FUND 2: 428.57 HEALTH INSURANCE-15o GAS 242-000- 00 8,853.09 Grounds - Materials 401-935- 08 308.33 Collection - Materials 401-903- 06 191.25 Grounds - Outside Services 401-935- 08 894.44 Vehicles - Material 402-895- 04 1,292.94 Meetings & Travel - Expense (S 401-903- 06 756.42 Cip - Residential 401-916- 07 350.00 Relief Valve for IRS 9. 107-378- 00 10,461.24 FREIGHT 401-874- 04 318.74 HECK GEN 79941 TOTAL FOR FUND 2: 10,779.98 Outside Service - Painting 402-892- 04 3,251.36 Outside Service - Painting 402-892- 04 5,157.02 HECK GEN 79944 TOTAL FOR FUND 2: 8,408.38 Cip - Residential 401-916- 07 325.00 PAINT, LOCATING, YELLOW (258), 154-000- 00 623.52 TAX & FREIGHT 401-874- 04 45.75 TAX & FREIGHT 401-874- 04 116.41 TAX & FREIGHT 401-874- 04 8.60 RAIN PANTS, 1501TFY, 2XL 401-880- 04 96.50 RAIN JACKET, 1503JFY, 2XL 401-880- 04 144.00 SAFETY VEST, FR,FM389Z, 2XL 401-880- 04 84.00 SAFETY VEST, FR,FM389Z, 3XL 401-880- 04 88.00 SAFETY GLASSES, GRAY, SILVER MIRROR, 401-880- 04 39. 90 11/20/2023 02:29 PM User: JMartig DE: Hutchinson Utili Check Date Bank Check # Payee Fund: 2 GAS CHECK DISBURSEMENT REPORT FOR HUTCHINSON UTILITIES CHECK DATE FROM 10/19/2023 - 11/20/2023 Description 11/14/2023 GEN 79948* MADDEN GALANTER HANSEN 11/14/2023 GEN 79950* MARCO TECHNOLOGIES, LLC 11/14/2023 GEN 79957 NORTHERN BORDER PIPELINE CO 11/14/2023 GEN 79958 NOVASPECT INC 11/14/2023 GEN 79959* NUVERA 11/14/2023 GEN 79960*4 OXYGEN SERVICE COMPANY INC 11/14/2023 GEN 79961* PETER WHITE 11/14/2023 GEN 79962* PREMIUM WATERS INC 11/14/2023 GEN 79964 PATH RACING, INC 11/14/2023 GEN 799664 RENEGADE ENERGY ADVISORS LLC 11/14/2023 GEN 79967* ROBBIE PETERSON 11/14/2023 GEN 79969 RON PEDERSON 11/14/2023 GEN 79973* SHRED RIGHT 11/14/2023 GEN 79975 SOUTH CENTRAL ELECTRIC ASS'N 11/14/2023 GEN 79976* SURVALENT TECHNOLOGY, INC 11/14/2023 GEN 79978 THE JOURNAL 11/14/2023 GEN 79979 TOM BRADFORD 11/14/2023 GEN 79980 TOTAL COMPLIANCE SOLUTIONS INC Account Dept Page 19/20 Amount HECK GEN 79947 TOTAL FOR FUND 2: 1,246.68 Legal Services 401-923- 08 513.07 OFFICE SUPPLIES 401-921- 08 173.89 LINE - OUTSIDE SERVICES -INTERCONNECT 401-856- 05 2,000.00 Materials 402-892- 04 77.17 TELEPHONE 401-921- 08 637.38 Materials 401-874- 04 107.64 Materials 401-874- 04 81.86 Materials 402-863- 05 1,293.24 HECK GEN 79960 TOTAL FOR FUND 2: 1,482.74 Cip - Residential 401-916- 07 400.00 OFFICE SUPPLIES -BOTTLED WATER 401-921- 08 5.58 M & R STATION EQUIPMENT 107-369- 00 85.00 M & R STATION EQUIPMENT 107-369- 00 5, 920.00 Line - Outside Services 401-856- 05 1,280.00 HECK GEN 79966 TOTAL FOR FUND 2: 7,200.00 Cip - Residential 401-916- 07 350.00 Cip - Residential 401-916- 07 350.00 OFFICE SUPPLIES -SHREDDING SERVICES 401-921- 08 5.25 UTILITIES (ELECTRIC, SATELLITE 401-856- 05 49. 00 It Admin And Support 401-921- 08 10,049.99 Public Awareness - Material 401-856- 05 369.00 Cip - Residential 401-916- 07 350.00 Materials 401-874- 04 160.00 11/20/2023 02:29 PM CHECK DISBURSEMENT REPORT FOR HUTCHINSON UTILITIES User: JMartig CHECK DATE FROM 10/19/2023 - 11/20/2023 DE: Hutchinson Utili Check Date Bank Check # Payee Description Fund: 2 GAS 11/14/2023 GEN 79983* UNITED PARCEL SERVICE MAIL SERVICES - UPS, FEDEX 11/14/2023 GEN 79984* VERIZON WIRELESS TELEPHONE 11/14/2023 GEN 79985*4 WEST CENTRAL SANITATION INC UTILITY ESP - WATER/WASTE 45/55- Total for fund 2 GAS TOTAL - ALL FUNDS '*'-INDICATES CHECK DISTRIBUTED TO MORE THAN ONE FUND '#'-INDICATES CHECK DISTRIBUTED TO MORE THAN ONE DEPARTMENT Account Dept Page 20/20 Amount 401-921- 08 29.50 401-921- 08 356.55 401-930- 08 223.25 161,232.21 633,958.77 HUTCHINSON UTILITIES COMMISSION COMBINED DIVISIONS FINANCIAL REPORT FOR OCTOBER, 2023 2023 2022 Di %Chna 2023 2022 Di %Chna Full Yr Bud %of Bud Combined Division Customer Revenue $ 2,700,908 $ 2,740,293 $ (39,385) (1.4%) $ 29,017,005 $ 31,526,880 $ (2,509,875) (8.0%) $ 38,930,509 74.5% Sales for Resale $ 273,927 $ 485,585 $ (211,658) (43.6%) $ 4,487,873 $ 4,498,846 $ (10,973) (0.2%) $ 4,230,000 106.1% NU Transportation $ 79,521 $ 108,246 $ (28,725) (26.5%) $ 883,412 $ 919,028 $ (35,616) (3.9%) $ 1,354,349 65.2% Electric Division Transfer $ 59,960 $ 59,724 $ 236 0.4% $ 599,598 $ 597,236 $ 2,362 0.4 o $ 719,517 83.3% Other Revenues $ 46,185 $ 54,352 $ (8,167) (15.0% $ 457,507 $ 558,987 $ (101,480) (18.2%) $ 484,081 94.5% Interest Income $ 81,261 $ 50,969 $ 30,292 59.4% $ 859,902 $ 417,499 $ 442,403 106.0% $ 533,457 161.2% TOTAL REVENUES $ 3,241,761 $ 3,499,168 $ (257,407) (7.4%) $ 36,305,297 $ 38,518,475 $ (2,213,178) (5.7%) $ 46,251,913 78.5% Salaries & Benefits $ 488,574 $ 540,348 $ (51,774) (9.58%) $ 5,790,857 $ 5,593,501 $ 197,356 3.5% $ 7,510,583 77.1% Purchased Commodities $ 1,433,273 $ 1,532,261 $ (98,988) (6.5%) $ 16,280,267 $ 17,817,052 $ (1,536,785) (8.6%) $ 21,566,760 75.5% Transmission $ 291,227 $ 202,796 $ 88,431 43.6% $ 2,604,597 $ 2,500,050 $ 104,547 4.2% $ 3,325,000 78.3% Generator Fuel/Chem. $ 27,484 $ 146,770 $ (119,285) (81.3%) $ 1,270,970 $ 2,504,234 $ (1,233,264) (49.2%) $ 1,760,606 72.2% Depreciation $ 356,576 $ 377,052 $ (20,476) (5.4%) $ 3,674,052 $ 3,779,301 $ (105,249) (2.8%) $ 4,400,000 83.5% Transfers (Elect./City) $ 218,671 $ 215,323 $ 3,348 1.6% $ 2,186,711 $ 2,153,229 $ 33,482 1.6% $ 2,624,053 83.3% Operating Expense $ 212,068 $ 253,303 $ (41,235) (16.3%) $ 2,248,970 $ 2,668,382 $ (419,412) (15.7%) $ 3,209,835 70.1% Debt Interest $ 65,534 $ 75,076 $ (9,542) (12.7%) $ 655,339 $ 750,755 $ (95,417) 12.7% $ 786,406 83.3% TOTAL EXPENSES $ 3,093,407 $ 3,342,928 $ (249,521) (7.5%) $ 34,711,762 $ 37,766,504 $ (3,054,742) (8.1%) $ 45,183,243 76.8% NET PROFIT/(LOSS) $ 148,353 $ 156,239 $ (7,886) (5.0%)l 1,593,534 $ 751,971 $ 841,564 111.9% $ 1,068,670 149.1% October October YTD YTD 2023 HUC 2023 2022 Change 2023 2022 Change Budget Target Gross Margin %: 34.3% 34.3% 0.0% 32.4% 29.4% 2.9% 31.3% Operating Income Per Revenue $ (%): 3.3% 4.2% -0.9% 3.1% 1.8% 1.3% 2.3% Net Income Per Revenue $ (%): 4.6% 4.5% 0.1% 4.4% 2.0% 2.4% 2.3% HUTCHINSON UTILITIES COMMISSION ELECTRIC DIVISION FINANCIAL REPORT FOR OCTOBER, 2023 2023 2022 Di . Electric Division Customer Revenue $ 1,837,412 $ 1,895,713 $ (58,300) Sales for Resale $ 273,927 $ 485,585 $ (211,658) Other Revenues $ 18,577 $ 26,872 $ (8,295) Interest Income $ 42,024 $ 26,878 $ 15,146 TOTAL REVENUES $ 2,171,940 $ 2,435,048 $ (263,108) Salaries & Benefits $ Purchased Power $ Transmission $ Generator Fuel/Chem. $ Depreciation $ Transfers (Elect./City) $ Operating Expense $ Debt Interest $ TOTAL EXPENSES $ NET PROFIT/(LOSS) $ 363,333 $ 413,064 $ (49,731) 928,776 $ 998,069 $ (69,293) 291,227 $ 202,796 $ 88,431 27,484 $ 146,770 $ (119,285) 266,212 $ 286,795 $ (20,583) 169,911 $ 167,519 $ 2,392 134,123 $ 208,481 $ (74,358) 37,738 $ 40,071 $ (2,333) 2,218,804 $ 2,463,564 $ (244,760) 864) $ (28,516 % Chna 2023 2022 Di . (3.1%) $ 19,437,277 $ 21,058,689 $ (1,621,411) (43.6%) $ 4,487,873 $ 4,498,846 $ (10,973) (30.9%) $ 191,196 $ 262,443 $ (71,247) 56.4% $ 444,107 $ 222,725 $ 221,382 (10.8%)l $ 24,560,453 $ 26,042,702 $ (1,482,249) (12.0%) $ 4,362,128 $ 4,242,945 $ 119,183 (6.9%) $ 10,239,217 $ 10,894,179 $ (654,962) 43.6% $ 2,604,597 $ 2,500,050 $ 104,547 (81.3%) $ 1,270,970 $ 2,504,234 $ (1,233,264) (7.2%) $ 2,768,249 $ 2,868,125 $ (99,877) 1.4% $ 1,699,109 $ 1,675,188 $ 23,921 (35.7%) $ 1,534,566 $ 1,940,871 $ (406,305) (5.8%) $ 377,380 $ 400,714 $ (23,333) (9.9%) $ 24,856,215 $ 27,026,305 $ (2,170,091) 64.3% 5 (295,762) 5 (983,603) 5 687,841 2023 2022 Di . % Chna 1 2023 2022 Di . % Chna 83.3% of Year Comp. Full Yr Bud % of Bud (7.7%) $ 25,750,654 75.5% (0.2%) $ 4,230,000 106.1% (27.1%) $ 187,047 102.2% 99.4% $ 283,457 156.7% (5.7%) $ 30,451,158 80.7% 2.8% $ 5,465,303 79.8% (6.0%) $ 12,862,000 79.6% 4.2% $ 3,325,000 78.3% (49.2%) $ 1,760,606 72.2% (3.5%) $ 3,300,000 83.9% 1.4% $ 2,038,931 83.3% (20.9%) $ 1,954,789 78.5% 5.8% $ 452,856 83.3% (8.0%) $ 31,159,485 79.8% (69.9%) $ (708,327) 41.8% 83.3% of Year Comp. % Chna Full Yr Bud % of Bud Electric Division Residential 3,811,967 3,518,711 293,256 8.33% 45,709,213 44,978,390 730,823 1.62% 54,834,787 83.4% All Electric 148,114 143,827 4,287 2.98% 1,986,800 2,170,033 (183,233) (8.44%) 2,716,035 73.2% Small General 1,366,580 1,342,596 23,984 1.79% 15,643,825 15,221,550 422,275 2.77% 18,332,200 85.3% Large General 6,851,920 6,569,730 282,190 4.30% 67,888,120 71,077,700 (3,189,580) (4.49%) 84,325,256 80.5% Industrial 8,821,000 8,641,000 180,000 2.08% 91,040,000 97,569,000 (6,529,000) (6.69%) 120,422,724 75.6% Total KWH Sold 20,999,581 20,215,864 783,717 3.88%1 222,267,958 231,016,673 (8,748,715) (3.79%)l 280,631,002 79.2% October October YTD YTD 2023 HUC 2023 2022 Change 2023 2022 Change Budget Target Gross Margin %: 27.7% 29.2% -1.5% 27.0% 24.1% 2.9% 26.7% Operating Income Per Revenue $ (%): -2.7% -1.3% -1.4% -1.8% -3.7% 1.9% -1.9% Net Income Per Revenue $ (%): -2.2% -1.2% -1.0% -1.2% -3.8% 2.6% -2.3% Customer Revenue per KWH: $0.0875 $0.0938 -$0.0063 $0.0874 $0.0912 -$0.0037 $0.0918 $0.0918 Total Power Supply Exp. per KWH: $0.0731 $0.0837 -$0.0107 $0.0790 $0.0844 -$0.0054 $0.0786 $0.0786 Notes/Graphs: Net Loss increased by $18,348 over October 2022 led by reduced Sales and Sales for Resale. Expenses were also down but not enough to offset the decreased revenues. Sales decreased in large part due to a PCA in 2022 but not 2023. Transmission increased due to heat in early October leading to a higher peak. Sales for Resale of $273,927 consisted of $29,677 in market sales, $98,000 in capacity sales to Rice Lake, and $146,250 in capacity sales to AEP. October 2022 Sales for Resale of $485,585 included $69,798 in market sales, $98,000 in capacity sales to Rice Lake, $146,250 in capacity sales to AEP and $171,537 in tolling sales to Dynasty Power. October 2021 Sales for Resale of $379,976 consisted of $135,726 in market sales, $98,000 in capacity sales to Rice Lake, and $146,250 in capacity sales to AEP. Overall Purchased Power decreased by $69,293. MRES purchases decreased by $39,221 and market purchases/MISO costs decreased by $30,072. The average cost of MISO power was $35.29/mwh (2,439 mwh's purchased), compared to $45.27/mwh (3,048 mwh's purchased) in October 2022. Power Cost Adjustment for October 2023 was $.00000/kwhr bringing in $304,953 YTD. Power Cost Adjustment for October 2022 was $.00691/kwhr bringing in $139,896 for the month and $1,283,470 YTD. HUTCHINSON UTILITIES COMMISSION GAS DIVISION FINANCIAL REPORT FOR OCTOBER, 2023 2023 2022 2 %Chna 2023 2022 2 %Chna Full YrBud %of Bud Gas Division Customer Revenue $ 863,496 $ 844,580 $ 18,916 2.2% $ 9,579,727 $ 10,468,191 $ (888,464) (8.5%) $ 13,179,855 72.7% Transportation $ 79,521 $ 108,246 $ (28,725) (26.5%) $ 883,412 $ 919,028 $ (35,616) (3.9%) $ 1,354,349 65.2% Electric Div. Transfer $ 59,960 $ 59,724 $ 236 0.4% $ 599,598 $ 597,236 $ 2,362 0.4% $ 719,517 83.3% Other Revenues $ 27,608 $ 27,480 $ 128 0.5% $ 266,312 $ 296,544 $ (30,232) (10.2%) $ 297,034 89.7% Interest Income $ 39,236 $ 24,090 $ 15,146 62.9% $ 415,795 $ 194,774 $ 221,022 113.5% $ 250,000 166.3% TOTAL REVENUES $ 1,069,820 $ 1,064,120 $ 5,700 0.5% $ 11,744,844 $ 12,475,773 $ (730,929) (5.9%) $ 15,800,755 74.3% Salaries & Benefits Purchased Gas Operating Expense Depreciation Transfers (City) Debt Interest TOTAL EXPENSES NET PROFIT/(LOSS) $ 125,241 $ 127,285 $ (2,043) (1.6%) $ 1,428,729 $ 1,350,556 $ 78,173 5.8% $ 2,045,280 69.9% $ 504,497 $ 534,192 $ (29,695) (5.6%) $ 6,041,051 $ 6,922,873 $ (881,822) (12.7%) $ 8,704,760 69.4% $ 77,944 $ 44,822 $ 33,122 73.9% $ 714,405 $ 727,512 $ (13,107) (1.8%) $ 1,255,046 56.9% $ 90,364 $ 90,257 $ 107 0.1% $ 905,804 $ 911,176 $ (5,372) (0.6%) $ 1,100,000 82.3% $ 48,760 $ 47,804 $ 956 2.0% $ 487,602 $ 478,041 $ 9,561 2.0% $ 585,122 83.3% $ 27,796 $ 35,004 $ (7,208) 0.0% $ 277,958 $ 350,042 $ (72,083) 20.6% $ 333,550 83.3% $ 874,603 $ 879,364 $ (4,761) (0.5%) $ 9,855,548 $ 10,740,199 $ (884,651) (8.2%) $ 14,023,758 70.3% $ 195,217 $ 184,756 $ 10,462 5.7% $ 1,889,296 $ 1,735,574 $ 153,722 8.9% $ 1,776,997 106.3% 83.3% of Year Comp. 2023 2022 2 %Chnq I 2023 2022 2 %Chnq I Full YrBud %of Bud Gas Division Residential 22,601,337 22,917,220 (315,883) (1.38%) 301,843,492 339,968,865 (38,125,373) (11.21%) 449,212,000 67.2% Commercial 21,448,675 20,491,718 956,957 4.67% 239,069,353 268,088,389 (29,019,036) (10.82%) 350,057,000 68.3% Industrial 65,721,113 74,100,291 (8,379,178) (11.31%) 642,539,013 732,139,797 (89,600,784) (12.24%) 919,535,000 69.9% Total CF Sold 109,771,125 117,509,229 (7,738,104) (6.59%) 1,183,451,858 1,340,197,051 (156,745,193) (11.70%) 1,718,804,000 68.9% October October YTD YTD 2023 HUC 2023 2022 Change 2023 2022 Change Budget Target Gross Margin %: 48.2% 46.2% 2.0% 43.9% 40.8% 3.1% 40.4% Operating Income Per Revenue $ (%): 15.9% 16.9% -1.0% 13.8% 13.6% 0.2% 10.6% IIIIIIIIIIIIIIIIIIIIII Net Income Per Revenue $ (%): 18.2% 17.4% 0.9% 16.1% 13.9% 2.2% 11.2% IIIIIIIIIIIIIIIIIIIIII Contracted Customer Rev. per CF: $0.0059 $0.0060 -$0.0001 $0.0064 $0.0062 $0.0002 $0.0063 IIIIIIIIIIIIIIII Customer Revenue per CF: $0.0103 $0.0089 $0.0014 $0.0099 $0.0095 $0.0004 $0.0091 M Total Power Supply Exp. per CF: $0.0048 $0.0047 $0.0001 $0.0053 $0.0053 ($0.0000) $0.0053 "' 1° muuuuuuuuuuuu Notes/Graphs: October Net Income increased by $10,462 due mostly to decreased gas purchases. Customer revenue was up slightly despite lower usage mostly due to credits in October 2022. There was no fuel cost adjustment for October 2023 and zero YTD. October 2022 Fuel Credit was $1.42 resulting in $68,786 in credits going back to the customers for the month and $89,250 YTD. Current Assets UnrestrictedlUndesignated Cash Cash Petty Cash Designated Cash Capital Expenditures - Five Yr. CIP Payment in Lieu of Taxes Rate Stabilization - Electric Rate Stabilization - Gas Catastrophic Funds Restricted Cash Bond Interest Payment 2017 Bond Interest Payment 2012 Debt Service Reserve Funds Total Current Assets Receivables Accounts (net of uncollectible allowances) Interest Total Receivables Other Assets Inventory Prepaid Expenses Sales Tax Receivable Deferred Outflows - Electric Deferred Outflows - Gas Total Other Assets Total Current Assets Capital Assets Land & Land Rights Depreciable Capital Assets Accumulated Depreciation Construction - Work in Progress Total Net Capital Assets HUTCHINSON UTILITIES COMMISSION BALANCE SHEET - CONSOLIDATED OCTOBER 31, 2023 Electric Gas Total Total Net Change Division Division 2023 2022 Total (YTD) 4,643,923.74 11,328,963.20 15,972,886.94 17,667,465.52 (1,694,578.58) 680.00 170.00 850.00 850.00 - 2,750,000.00 700,000.00 3,450,000.00 3,450,000.00 - 1,319,414.00 585,122.00 1,904,536.00 1,867,192.00 37,344.00 660,909.48 - 660,909.48 395,204.99 265,704.49 - 626,564.78 626,564.78 607,452.34 19,112.44 800,000.00 200,000.00 1,000,000.00 1,000,000.00 - 1,557,856.73 - 1,557,856.73 1,542,023.36 15,833.37 - 1,811,895.87 1,811,895.87 1,760,854.18 51,041.69 522,335.64 2,188,694.02 2,711,029.66 2,711,029.66 - 12,255,119.59 17,441,409.87 29,696,529.46 31,002,072.05 (1,305,542.59) 2,064,952.34 933,640.95 2,998,593.29 3,147,997.83 (149,404.54) 59,141.99 59,142.00 118,283.99 94,415.01 23,868.98 2,124,094.33 992,782.95 3,116,877.28 3,242,412.84 (125,535.56) 1,892,967.61 511,842.18 2,404,809.79 2,166,861.86 237,947.93 (214,498.13) 16,733.83 (197,764.30) 134,459.88 (332,224.18) 305,214.01 - 305,214.01 202,066.33 103,147.68 1,221,397.00 - 1,221,397.00 1,630,746.00 (409,349.00) - 407,133.00 407,133.00 543,582.00 (136,449.00) 3,205,080.49 935,709.01 4,140,789.50 4,677,716.07 (536,926.57) 17, 584, 294.41 19, 369, 901.83 690,368.40 3,899,918.60 112,482,525.76 42,872,726.46 (69,730,217.59) (21,170,179.89) 2,043,482.81 769,270.76 4.5,486,159.38 26,371,735.93 36,954,196.24 38,922,200.96 (1,968,004.72) 4,590,287.00 4,590,287.00 - 155,355,252.22 154,034,961.91 1,320,290.31 (90,900,397.48) (86,638,281.86) (4,262,115.62) 2,812,753.57 1,590,884.40 1,221,869.17 71,857,895.31 73,577,851.45 (1,719,956.14) Total Assets 63,070,453.79 45,741,637.76 108,812,091.55 112,500,052.41 (3,687,960.86) HUTCHINSON UTILITIES COMMISSION BALANCE SHEET - CONSOLIDATED OCTOBER 31, 2023 Electric Gas Total Total Net Change Division Division 2023 2022 Total (YTD) Current Liabilities Current Portion of Long-term Debt Bonds Payable 730,000.00 1,825,000.00 2,555,000.00 2,430,000.00 125,000.00 Bond Premium - 185,608.32 185,608.32 185,608.32 - Lease Liability - Solar Array 19,546.00 - 19,546.00 - 19,546.00 Accounts Payable 1,764,386.23 625,155.01 2,389,541.24 2,770,725.08 (381,183.84) Accrued Expenses Accrued Interest 188,690.10 138,979.15 327,669.25 375,377.65 (47,708.40) Accrued Payroll 35,541.95 12,580.71 48,122.66 89,833.85 (41,711.19) Total Current Liabilities 2,738,164.28 2,787,323.19 5,525,487.47 5,851,544.90 (326,057.43) Long -Term Liabilities Noncurrent Portion of Long-term Debt 2017 Bonds 13,300,000.00 - 13,300,000.00 14,030,000.00 (730,000.00) 2012 Bonds - 5,955,000.00 5,955,000.00 7,780,000.00 (1,825,000.00) Bond Premium 2012 471,185.52 386,683.63 857,869.15 1,076,934.43 (219,065.28) Pension Liability- Electric 4,021,396.00 - 4,021,396.00 2,219,565.00 1,801,831.00 Pension Liability - Electric OPEB 77,480.00 - 77,480.00 94,162.00 (16,682.00) Pension Liability- Nat Gas - 1,340,466.00 1,340,466.00 739,855.00 600,611.00 Pension Liability - Nat Gas OPEB - 25,827.00 25,827.00 31,387.00 (5,560.00) Accrued Vacation Payable 514,998.51 185,601.83 700,600.34 595,141.98 105,458.36 Accrued Severance 109,985.36 30,300.18 140,285.54 123,254.85 17,030.69 Deferred Outflows - Electric 98,554.00 - 98,554.00 2,041,393.00 (1,942,839.00) Deferred Outflows - Nat Gas - 32,851.00 32,851.00 680,464.00 (647,613.00) Total Long -Term Liabilities 18,593,599.39 7,956,729.64 26,550,329.03 29,412,157.26 (2,861,828.23) Net Position Retained Earnings 41,738,690.12 34,997,584.93 76,736,275.05 77,236,350.25 (500,075.20) Total Net Position 41,738,690.12 34,997,584.93 76,736,275.05 77,236,350.25 (500,075.20) Total Liabilities and Net Position 63,070,453.79 45,741,637.76 108,812,091.55 112,500,052.41 (3,687,960.86) Hutchinson Utilities Commission Cash -Designations Report, Combined October 31, 2023 Change in Financial Annual Balance, Balance, Cash/Reserve Institution Current Interest Rate Interest October 2023 September 2023 Position Savings, Checking, Investments varies varies varies 29,696,529.46 29,999,069.06 (302,539.60) Total Operating Funds 29,696,529.46 29,999,069.06 (302,539.60) Debt Reserve Requirements Bond Covenants - sinking fund Debt Reserve Requirements Bond Covenants -1 year Max. P & I Total Restricted Funds Operating Reserve Rate Stabalization Funds PILOT Funds Catastrophic Funds Capital Reserves Total Designated Funds Min 60 days of 2023 Operating Bud. Charter (Formula Only) Risk Mitigation Amount 5 Year CIP (2023-2027 Fleet & Infrastructure Maintenance) 3,369,752.60 3,091,302.08 278,450.52 2,711,029.66 2,711,029.66 - 6,080,782.26 5,802,331.74 278,450.52 6,797,207.17 6,797,207.17 - 1,287,474.26 1,197,731.90 89,742.36 1,904,536.00 1,904,536.00 - 1, 000, 000.00 1, 000, 000.00 3,450,000.00 3,450,000.00 - 14,439,217.43 14,349,475.07 89,742.36 YE YE YE YE YTD HUC 2019 2020 2021 2022 2023 Target Debt to Asset 34.9% 32.3% 30.8% 31.4% 29.5% Current Ratio 5.11 5.67 5.22 4.47 5.31 RONA 2.25% 3.62% 0.41% -1.38% 1.67% Change in Cash Balance (From 12131114 to 1013112023) Month End Electric Elec. Change Natural Gas Gas Change Total Total Change 10/31/2023 12, 255,120 17, 441, 410 29, 696, 529 12/31/2022 11,633,212 621,908 15,450,554 1,990,856 27,083,766 2,612,764 12/31/2021 12,870,253 (1,237,041) 15,086,000 364,554 27,956,253 (872,487) 12/31/2020 14,239,233 (1,368,981) 15,019,173 66,827 29,258,406 (1,302,153) 12/31/2019 12,124,142 2,115,092 13,837,040 1,182,133 25,961,181 3,297,225 12/31/2018 15,559,867 (3,435,725) 12,335,998 1,501,042 27,895,864 (1,934,683) 12/31/2017 23,213,245 (7,653,378) 10,702,689 1,633,309 33,915,934 (6,020,070) 12/31/2016 8,612,801 14,600,444 9,500,074 1,202,615 18,112,875 15,803,059 12/31/2015 6,170,790 2,442,011 9,037,373 462,701 15,208,163 2,904,712 12/31/2014 3,598,821 2,571,969 6,765,165 2,272,208 10,363,986 4,844,177 * 2017's Significant increase in cash balance is due to issuing bonds for the generator project. Hutchinson Utilities Commission Cash -Designations Report, Electric October 31, 2023 Change in Financial Annual Balance, Balance, Cash/Reserve Institution Current Interest Rate Interest October 2023 September 2023 Position Savings, Checking, Investments varies varies Total HUC Operating Funds tiectric jI Debt Restricted Requirements Bond Covenants - sinking fund Debt Restricted Requirements Bond Covenants -1 year Max. P & I Total Restricted Funds Operating Reserve Rate Stabalization Funds PILOT Funds Catastrophic Funds Capital Reserves Total Designated Funds varies 29,696,529.46 29,999,069.06 (302,539.60) 29,696,529.46 29,999,069.06 (302,539.60) Min 60 days of 2023 Operating Bud. $400 K-$1.2 K Charter (Formula Only) Risk Mitigation Amount 5 Year CIP (2023-2027 Fleet & Infrastructure Maintenance) 1,557,856.73 1,459,285.38 98,571.35 522,335.64 522,335.64 - 2,080,192.37 1,981,621.02 98,571.35 4,643,247.50 4,643,247.50 - 660,909.48 623,857.35 37,052.13 1,319,414.00 1,319,414.00 - 800,000.00 800,000.00 2,750,000.00 2,750,000.00 - 10,173,570.98 10,136,518.85 37,052.13 YE YE YE YE YTD APPA Ratio HUC 2019 2020 2021 2022 2023 5K-10K Cust. Target Debt to Asset Ratio (* w/Gen.) 34.1% 32.6% 32.2% 34.8% 33.8% 39.8% Current Ratio 5.26 6.18 5.70 4.96 5.22 3.75 RONA -0.4% 2.5% -1.2% -4.2% -0.5% NA >0% Notes/Graphs: Cash decreased in large part due to three A/P check runs in October compared to the normal two along with PILOT payment. Hutchinson Utilities Commission Cash -Designations Report, Gas October 31, 2023 Change in Financial Annual Balance, Balance, Cash/Reserve Institution Current Interest Rate Interest October 2023 September 2023 Position Savings, Checking, Investments varies varies Total HUC Operating Funds Debt Restricted Requirements Bond Covenants - sinking fund Debt Restricted Requirements Bond Covenants -1 year Max. P & I Total Restricted Funds Operating Reserve Rate Stabalization Funds PILOT Funds Catastrophic Funds Capital Reserves Total Designated Funds varies 29,696,529.46 29,999,069.06 (302,539.60) 29,696,529.46 29,999,069.06 (302,539.60) Min 60 days of 2023 Operating Bud. $200K-$600K Charter (Formula Only) Risk Mitigation Amount 5 Year CIP (2023-2027 Fleet & Infrastructure Maintenance) 1, 811, 895.87 1, 632, 016.70 179, 879.17 2,188,694.02 2,188,694.02 - 4,000,589.89 3,820,710.72 179,879.17 2,153,959.67 2,153,959.67 - 626,564.78 573,874.55 52,690.23 585,122.00 585,122.00 - 200,000.00 200,000.00 700,000.00 700,000.00 - 4,265,646.45 4,212,956.22 52,690.23 YE YE YE YE YTD HUC 2019 2020 2021 2022 2023 AGA Ratio Target Debt to Asset 36.1% 32.0% 28.8% 26.5% 23.5% 35%-50% Current Ratio 4.96 5.18 4.79 4.06 5.37 1.0-3.0 RONA 6.4% 5.3% 2.9% 3.0% 4.9% 2%-5% Notes/Graphs: HUTCHINSON UTILITIES COMMISSION Investment Report For the Month Ended October 31, 2023 Interest Current Date of Date of Par Current Purchase Unrealized Premium Next Institution Description Rate YTM Purchase Maturity Value Value Amount Gain/(Loss) (Discount) Call Date Wells Fargo Money Market 4.900% 4.900% NA NA - 131,980.03 - - - N/A Wells Fargo FHLB 4.750% 4.750% 02/01/2023 02/01/2024 1,000,000.00 997,800.00 1,000,000.00 (2,200.00) - N/A Wells Fargo FFCB 4.250% 4.250% 12/20/2022 12/20/2024 1,000,000.00 986,350.00 1,000,000.00 (13,650.00) - N/A Wells Fargo FFCB 4.000% 4.000% 40/10/2023 03/10/2025 580,000.00 568,829.20 580,000.00 (11,170.80) - N/A Wells Fargo FHLB 5.000% 5.000% 05/31/2023 11/26/2025 1,000,000.00 987,620.00 1,000,681.44 (13,061.44) 681.44 02/26/2024 Wells Fargo FHLB 0.400% 0.587% 01/29/2021 01/29/2026 295,000.00 267,948.50 295,000.00 (27,051.50) - 01/29/2024 Wells Fargo FHLB 0.400% 0.525% 02/09/2021 02/09/2026 470,000.00 425,444.00 470,000.00 (44,556.00) - 02/09/2024 Wells Fargo FHLB 0.750% 1.432% 04/29/2021 04/29/2026 400,000.00 372,140.00 400,000.00 (27,860.00) - 12/29/2023 Wells Fargo FHLB 0.650% 1.069% 06/30/2021 06/30/2026 300,000.00 271,371.00 300,000.00 (28,629.00) - 12/30/2023 Wells Fargo FHLB 0.700% 1.281% 09/30/2021 09/30/2026 250,000.00 225,690.00 250,000.00 (24,310.00) - 12/30/2023 Wells Fargo CD's 2.550% 2.550% 06/17/2022 12/18/2023 245,000.00 244,098.40 245,000.00 (901.60) - N/A Wells Fargo CD's 0.300% 0.300% 01/08/2021 01/08/2024 245,000.00 242,677.40 245,000.00 (2,322.60) - N/A Wells Fargo CD's 0.450% 0.450% 04/14/2021 04/15/2024 245,000.00 239,475.25 245,000.00 (5,524.75) - 02/14/2024 Wells Fargo CD's 2.800% 2.800% 06/17/2022 06/17/2024 245,000.00 240,854.60 245,000.00 (4,145.40) - N/A Wells Fargo CD's 0.550% 0.550% 08/02/2021 08/05/2024 245,000.00 235,692.45 245,000.00 (9,307.55) - N/A Wells Fargo CD's 4.800% 4.800% 11/16/2022 11/15/2024 245,000.00 242,790.10 245,000.00 (2,209.90) - N/A Wells Fargo CD's 1.100% 1.100% 01/31/2022 01/31/2025 245,000.00 231,527.45 245,000.00 (13,472.55) - 01/31/2024 Wells Fargo CD's 1.600% 1.600% 02/23/2022 02/24/2025 245,000.00 232,416.80 245,000.00 (12,583.20) - N/A Wells Fargo CD's 4.650% 4.650% 04/12/2023 04/07/2025 245,000.00 241,516.10 245,000.00 (3,483.90) - N/A Wells Fargo CD's 4.650% 4.650% 40/14/2023 04/14/2025 245,000.00 241,457.30 245,000.00 (3,542.70) - N/A Wells Fargo CD's 3.100% 3.100% 06/15/2022 06/16/2025 245,000.00 235,307.80 245,000.00 (9,692.20) - N/A Wells Fargo CD's 3.100% 3.100% 06/15/2022 06/16/2025 245,000.00 235,307.80 245,000.00 (9,692.20) - N/A Wells Fargo CD's 3.300% 3.300% 08/26/2022 08/26/2025 245,000.00 234,994.20 245,000.00 (10,005.80) - N/A Wells Fargo CD's 1.000% 1.000% 05/19/2021 05/19/2026 245,000.00 219,667.00 245,000.00 (25,333.00) - N/A Wells Fargo CD's 1.000% 1.000% 07/28/2021 07/28/2026 245,000.00 217,988.75 245,000.00 (27,011.25) - N/A Wells Fargo CD's 1.050% 1.050% 08/08/2021 08/25/2026 238,000.00 212,012.78 238,000.00 (25,987.22) - N/A Wells Fargo CD's 1.000% 1.207% 07/31/2021 07/13/2028 245,000.00 203,460.25 245,000.00 (41,539.75) 12/13/2023 Broker Total 49.7% 9,453,000.00 9,186,417.16 9,453,681.44 (399,244.31) 681.44 Cetera Investment Services Money Market 0.600% 0.600% N/A N/A - 56,841.54 - - - N/A Cetera Investment Services Municipal Bonds 3.400% 3.148% 12/20/2018 11/01/2023 125,000.00 125,000.00 126,376.25 (1,376.25) 1,376.25 N/A Cetera Investment Services Municipal Bonds 3.400% 3.148% 12/20/2018 11/01/2023 65,000.00 65,000.00 65,715.65 (715.65) 715.65 N/A Cetera Investment Services Municipal Bonds 2.854% 3.173% 12/20/2018 02/01/2024 100,000.00 99,238.00 99,605.96 (367.96) (394.04) N/A Cetera Investment Services Municipal Bonds 2.977% 3.246% 12/20/2018 03/15/2024 250,000.00 247,590.00 248,743.99 (1,153.99) (1,256.01) N/A Cetera Investment Services Municipal Bonds 1.940% 1.821% 01/13/2020 05/01/2024 65,000.00 63,787.75 65,570.70 (1,782.95) 570.70 N/A Cetera Investment Services Municipal Bonds 5.742% 3.658% 04/11/2019 08/01/2024 100,000.00 100,115.00 109,960.00 (9,845.00) 9,960.00 N/A Cetera Investment Services Municipal Bonds 5.000% 4.253% 02/09/2023 08/15/2024 270,000.00 268,963.20 279,454.50 (10,491.30) 9,454.50 N/A Cetera Investment Services Municipal Bonds 2.400% 2.908% 08/05/2022 08/15/2024 50,000.00 48,777.00 50,070.17 (1,293.17) 70.17 N/A Cetera Investment Services Municipal Bonds 2.402% 2.926% 08/05/2022 10/01/2024 125,000.00 121,462.50 124,674.19 (3,211.69) (325.81) N/A Cetera Investment Services Municipal Bonds 2.033% 4.794% 06/05/2023 10/01/2024 85,000.00 82,268.10 82,332.21 (64.11) (2,667.79) Make -Whole Call Cetera Investment Services Municipal Bonds 5.200% 4.710% 02/21/2023 11/01/2024 30,000.00 29,894.10 30,711.27 (817.17) 711.27 N/A Cetera Investment Services Municipal Bonds 4.000% 4.689% 05/19/2023 12/01/2024 50,000.00 49,139.50 50,428.33 (1,288.83) 428.33 N/A Cetera Investment Services Municipal Bonds 2.528% 1.918% 01/13/2020 12/01/2024 100,000.00 96,667.00 102,999.53 (6,332.53) 2,999.53 N/A Cetera Investment Services Municipal Bonds 1.319% 4.407% 09/26/2022 12/01/2024 50,000.00 47,734.50 47,238.35 496.15 (2,761.65) N/A Cetera Investment Services Municipal Bonds 3.922% 3.429% 12/20/2018 12/01/2024 204,000.00 199,410.00 208,181.10 (8,771.10) 4,181.10 N/A Cetera Investment Services Municipal Bonds 3.375% 4.693% 06/05/2023 03/01/2025 260,000.00 252,353.40 256,618.05 (4,264.65) (3,381.95) Make -Whole Call Cetera Investment Services Municipal Bonds 2.092% 4.793% 08/04/2023 05/01/2025 190,000.00 180,914.20 182,543.32 (1,629.12) (7,456.68) NA Cetera Investment Services Municipal Bonds 4.415% 4.516% 02/21/2023 05/01/2025 60,000.00 59,066.40 59,907.79 (841.39) (92.21) N/A Cetera Investment Services Municipal Bonds 4.400% 3.221% 04/11/2019 07/01/2025 500,000.00 486,845.00 539,101.11 (52,256.11) 39,101.11 07/01/2024 Cetera Investment Services Municipal Bonds 0.824% 4.678% 01/09/2023 08/01/2025 100,000.00 92,374.00 91,160.64 1,213.36 (8,839.36) N/A Cetera Investment Services Municipal Bonds 5.640% 3.007% 04/18/2019 08/15/2025 205,000.00 184,139.20 169,737.95 14,401.25 (35,262.05) N/A Cetera Investment Services Municipal Bonds 3.743% 2.740% 04/18/2019 09/15/2025 215,000.00 208,616.65 228,334.53 (19,717.88) 13,334.53 N/A Cetera Investment Services Municipal Bonds 3.379% 1.934% 08/19/2019 10/01/2025 310,000.00 295,916.70 339,739.18 (43,822.48) 29,739.18 N/A Cetera Investment Services Municipal Bonds 2.727% 2.271% 03/03/2022 12/01/2025 335,000.00 311,935.25 342,781.72 (30,846.47) 7,781.72 N/A Cetera Investment Services Municipal Bonds 5.600% 1.186% 07/28/2020 12/01/2025 45,000.00 45,174.15 55,250.55 (10,076.40) 10,250.55 N/A Cetera Investment Services Municipal Bonds 4.250% 3.258% 04/11/2019 01/01/2026 500,000.00 484,205.00 529,769.03 (45,564.03) 29,769.03 N/A Cetera Investment Services Municipal Bonds 2.420% 1.175% 10/06/2020 03/01/2026 100,000.00 92,587.00 106,734.28 (14,147.28) 6,734.28 N/A Cetera Investment Services Municipal Bonds 1.609% 1.124% 09/24/2020 04/01/2026 285,000.00 259,820.25 292,370.10 (32,549.85) 7,370.10 N/A Cetera Investment Services Municipal Bonds 6.690% 3.356% 04/18/2019 04/15/2026 60,000.00 51,633.60 47,545.20 4,088.40 (12,454.80) N/A Cetera Investment Services Municipal Bonds 5.900% 1.451% 07/28/2020 06/15/2026 75,000.00 75,819.75 93,741.75 (17,922.00) 18,741.75 N/A Cetera Investment Services Municipal Bonds 0.000% 1.415% 08/13/2020 07/01/2026 100,000.00 85,210.00 92,037.00 (6,827.00) (7,963.00) N/A Cetera Investment Services Municipal Bonds 3.250% 2.903% 04/18/2019 08/01/2026 500,000.00 469,920.00 514,790.69 (44,870.69) 14,790.69 N/A Cetera Investment Services Municipal Bonds 2.116% 3.307% 06/07/2022 08/01/2026 75,000.00 68,835.75 71,565.00 (2,729.25) (3,435.00) N/A Cetera Investment Services Municipal Bonds 2.150% 2.203% 07/01/2019 12/01/2026 40,000.00 36,741.20 40,150.64 (3,409.44) 150.64 N/A Interest Current Date of Date of Par Current Purchase Unrealized Premium Next Institution Description Rate YTM Purchase Maturity Value Value Amount Gain/(Loss) (Discount) Call Date Cetera Investment Services Municipal Bonds 1.664% 1.150% 08/27/2020 09/01/2026 225,000.00 201,370.50 231,696.00 (30,325.50) 6,696.00 N/A Cetera Investment Services Municipal Bonds 2.375% 1.816% 09/04/2019 12/01/2026 90,000.00 82,318.50 93,395.70 (11,077.20) 3,395.70 N/A Cetera Investment Services Municipal Bonds 2.350% 2.191 % 07/01/2019 12/01/2026 500,000.00 458,325.00 505,385.00 (47,060.00) 5,385.00 N/A Cetera Investment Services Municipal Bonds 3.000% 1.991% 08/19/2019 02/01/2027 50,000.00 46,605.50 53,551.00 (6,945.50) 3,551.00 N/A Cetera Investment Services Municipal Bonds 3.150% 2.034% 08/1 9/201 9 03/15/2027 100'000.00 93,034.00 109,138.50 (16,104.50) 9,138.50 N/A Cetera Investment Services Municipal Bonds 3.332% 3.120% 04/1 8/201 9 04/15/2027 500,000.00 469,255.00 507,783.94 (38,528.94) 7,783.94 N/A Cetera Investment Services Municipal Bonds 3.865% 2.470% 08/1 9/201 9 05/01/2027 55,000.00 53,773.50 60,986.48 (7,212.98) 5,986.48 05/01/2025 Cetera Investment Services Municipal Bonds 3.553% 2.289% 08/1 9/201 9 05/01/2027 55:000.00 51:700.55 60:468.04 (8,767.49) 5:468.04 05/01/2026 Cetera Investment Services Municipal Bonds 3.230% 1.828% 08/1 9/201 9 05/15/2027 145,000.00 134,768.80 160,827.31 (26,058.51) 15,827.31 N/A Cetera Investment Services Municipal Bonds 1.925% 1.719% 11/23/2021 06/01/2027 310,000.00 272,583.00 313,447.46 (40,864.46) 3,447.46 Make -Whole Call Cetera Investment Services Municipal Bonds 1.861% 1.254% 06/07/2021 07/01/2027 410,000.00 361,017.30 412,336.71 (51,319.41) 2:336.71 N/A Cetera Investment Services Municipal Bonds 3.000% 3.101% 05/18/2020 09/01/2027 65,000.00 61,161.10 69,180.58 (8,019.48) 4,180.58 09/01/2025 Cetera Investment Services Municipal Bonds 2.817% 2.817% 09/25/2019 10/01/2027 35,000.00 28,265.30 27,969.55 295.75 (7,030.45) 05/01/2025 Cetera Investment Services Municipal Bonds 1.415% 1.793% 11/23/2021 03/01/2028 100,000.00 85,699.00 98,088.31 (12,389.31) (1,911.69) N/A Cetera Investment Services Municipal Bonds 3.270% 2.141% 08/19/2019 03/15/2028 155:000.00 141:899.40 170,805.09 (28,905.69) 15,805.09 09/15/2027 Cetera Investment Services Municipal Bonds 2.974% 2.574% 11/07/2019 04/01/2028 75,000.00 67,909.50 77,253.00 (9,343.50) 2,253.00 N/A Cetera Investment Services Municipal Bonds 2.125% 1.904% 11/23/2021 06/01/2028 110,000.00 94,286.50 111,525.06 (17,238.56) 1,525.06 N/A Cetera Investment Services Municipal Bonds 2.547% 1.240% 08/10/2021 07/01/2028 125:000.00 110,856.25 136,101.16 (25,244.91) 11,101.16 N/A Cetera Investment Services Municipal Bonds 3.140% 2.004% OS/19/2019 08/01/2028 500,000.00 451,225.00 547,105.00 (95,880.00) 47,105.00 08/01/2027 Cetera Investment Services Municipal Bonds 3.000% 2.199% 05/19/2020 08/15/2028 90,000.00 83,787.30 95,401.80 (11,614.50) 5,401.80 08/15/2025 Cetera Investment Services Municipal Bonds 1.692% 1.813% 11/24/2021 10/01/2028 180,000.00 149,931.00 179, 18%4 (29,257.74) (811.26) N/A Cetera Investment Services Municipal Bonds 3.000% 1.942% 08/19/2019 06/01/2029 115:000.00 102:437.40 125:961.80 (23,524.40) 10,961.80 N/A Cetera Investment Services Municipal Bonds 4.000% 3.214% 03/22/2021 09/01/2031 60,000.00 54,774.00 64,292.00 (9,518.00) 4,292.00 09/01/2024 Cetera Investment Services Municipal Bonds 3.500% 2.699% 11/23/2021 02/01/2033 50:000.00 45:716.00 54:390.44 (8,674.44) 4:390.44 02/01/2025 Cetera Investment Services Municipal Bonds 3.250% 2.655% 08/1 9/201 9 06/01/2029 75,000.00 68,993.25 79,860.31 (10,867.06) 4,860.31 02/01/2025 Cetera Investment Services Municipal Bonds 3.125% 2.303% 11/23/2021 10/01/2034 50,000.00 44,172.00 54,773.69 (10,601.69) 4:773.69 04/01/2027 Cetera Investment Services Municipal Bonds 3.125% 2.456% 11/23/2021 OZ01/2035 50,000.00 43,128.50 54,236.11 (11,107.61) 4,236.11 OZ01/2026 Broker Total 50.3% 9,899,000.00 9,302,988.84 10,201,089.51 (954,942.21) 302,089.51 TOTAL INVESTMENTS 100.0% $ 19,352,000.00 $ 18,489,406.00 $ 19,654,770.95 $ (1,354,186.52) $ 302,770.95 ELECTRIC DIVISION Operating Revenue October 2023 CLASS AMOUNT KWH /KWH Street Lights $23.55 432 $0.05451 Electric Residential Service $423,103.09 3,811,967 $0.11099 All Electric Residential Service $16,617.18 148,114 $0.11219 Electric Small General Service $141,585.34 1,366,580 $0.10361 Electric Large General Service $612,221.12 6,851,920 $0.08935 Electric Large Industrial Service $643,861.98 8,821,000 $0.07299 Total $1,837,412.26 21,000,013 $0.08750 Power Adjustment $0.00000 Rate Without Power Adjustment $0.08750 Electric Division Year -to -Date M2023 $A--t 02022 $A--t ■2023 KWH110 02022 KWH110 30,000,000 25,000,000 20,000,000 15,000,000 10,000,000 5,000,000 0 Street Lights Residential All Elec. Small Gen. Large Gen. Large For Resale Total Resid. Srv. Srv. Industrial NOTE: Sales for resale includes capacity sales and energy for resale NATURAL GAS DIVISION Operating Revenue OCTOBER 2023 CLASS AMOUNT MCF /$ MCF Residential $255,771.06 22,601 $11.31680 Commercial $209,428.93 21,449 $9.76404 Large Industrial $41,784.25 5,165 $8.08988 Large Industrial Contracts $356,511.69 60,556 $5.88731 Total $863,495.93 109,771 $7.86634 Fuel Adjustment $0.00000 Rate Without Fuel Adjustment $7.86634 Natural Gas Division Year -to -Date ® 2023 $ Amount 0 2022 $ Amount ■ 2023 MCF 13 2022 MCF 12,000,000 10,000,000 8,000,000 6,000,000 4,000,000 2,000,000 0 Gas Residential Gas Commercial Large Industrial Large Industrial Total Contracts Monthly Report - Hutchinson Utilities Hutchinson Utilities Commission Commission Year Minimum duration Substation 2023 v IEEE 1366 Statistics Metric Oct 2023 Oct 2022 SAI DI 0.131 None SAI FI 0.00161 None CAIDI 81.666 None ASAI 99.9996% 100% Momentary Interruptions 0 0 Sustained Interruptions 2 0 Circuit Ranking - Worst Performing Ranked by Outage Count Circuit Substation Number of Outages Fdr#14 Plant 1 1 Fdr#15 Plant 1 1 Ranked by Customer Interruptions Circuit Substation Customer Interruptions Fdr#15 Plant 1 10 Circuit Substation Customer Interruptions Fdr#14 Plant 1 Ranked by Customer Minutes of Duration Circuit Substation Customer Minutes of Duration Fdr#15 Plant 1 770 Fdr#14 Plant 1 210 Historical Monthly SAIDI Chart 2.5 2.0 1.5 1.0 0.5 0.0 Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct 2022 2022 2023 2023 2023 2023 2023 2023 2023 2023 2023 2023 Historical Monthly SAIFI Chart 0.12 0.10 0.08 0.06 0.04 0.02 0.00 Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct 2022 2022 2023 2023 2023 2023 2023 2023 2023 2023 2023 2023 3AID1 of monthly SAIDI values SAIFI of monthly SAIFI values Causes Ranked by Count Count Underground Equipment Worn Out Causes Ranked by Duration Cause Duration Equipment Worn Out 770 Underground 210 Top 2 Outages for the Month Customers Customer Minutes of Address Interrupted Duration Interruption Start Date 635 Grove St SW 10 77 770 10/07/2023 WWTP and 2 105 210 10/02/2023 Armory Total Customers Affected for the Month: 12 Average Customers Affected per Outage: 6 I rG...)w( klr)C:I Strong CornrrurIihe-,,+ 101 M1 4 11 Electric Production Work Total Total order Description Materials Labor Budgeted Actual Difference 12203 Plant 2 Air Dryer $ 29,705.92 $ 29,705.92 12204 Cooling Tower Repairs $ 315,370.33 $ 315,370.33 12206 Plant 2 Unilux Boiler $ 146,102.00 $ 146,102.00 12301 Plant 2 Ladder Access 225,000.00 $ 225,000.00 214,094.96 $ (10,915.04) 12302 Plant 2 Power Gates 60,000.00 $ 60,000.00 2,137.50 $ (57,862.50) 12303 Plant 1 Tuck Pointing 140,000.00 $ 140,000.00 166,687.67 $ 26,687.67 12304 SWCIS Computer Upgrade U5 400,000.00 $ 400,000.00 $ (400,000.00) 12305 Plant 1 Side Stream Filter 30,000.00 $ 30,000.00 $ (30,000.00) 12306 Cooling Tower Drain Valves Plant 1 80,000.00 $ 80,000.00 $ (80,000.00) 12307 Cooling Tower Recirculation 120,000.00 $ 120,000.00 $ (120,000.00) 12308 Unit 1 Repairs - - $ - $ - $ $ 1,055,000.00 $ - $ 1,055,000.00 $ 874,088.38 $ (180,911.62) Electric Distribution Work Total Total Order Description Materials, Labor Budgeted Actual Difference 22203 Plant 1 Sub SCADA Relays - - 218,509.55 $ 218,509.55 22204 3M Sub SCADA - - - 116,177.70 $ 116,177.70 22213 EV Charging Station Transformer - 12,872.12 $ 12,872.12 22301 Hutch Sub Transformer Upgrade Engineering 200,000.00 200,000.00 43,515.63 $ (156,484.37) 22302 Pole Repair and Replacement 15,000.00 15,000.00 $ (15,000.00) 22303 Station Equipment 10,000.00 10,000.00 $ (10,000.00) 22304 HTI Sub SCADA 125,000.00 125,000.00 $ (125,000.00) 22305 Right of Way Clearing 15,000.00 15,000.00 7,648.79 $ (7,351.21) 22306 Install Duct 18,000.00 65,000.00 83,000.00 68,904.34 $ (14,095.66) 22307 Feeder 16 Reconductor 42,000.00 75,000.00 117,000.00 99,728.41 $ (17,271.59) 22308 APR Development (North of 202nd Circle NW) 15,000.00 7,000.00 22,000.00 380.96 $ (21,619.04) 22309 New Developments 60,000.00 60,000.00 66,414.17 $ 6,414.17 22310 APR Development (North of 202nd Circle NW) 8,000.00 2,000.00 10,000.00 $ (10,000.00) 22311 Transformer Replacements 48,000.00 14,000.00 62,000.00 3,087.91 $ (58,912.09) 22312 Transformer New Development 60,000.00 60,000.00 2,790.57 $ (57,209.43) 22313 Meters 36,000.00 36,000.00 29,328.74 $ (6,671.26) 22314 Roberts Road Lights 15,000.00 15,000.00 4,146.84 $ (10,853.16) 22315 LED Conversion 175,000.00 35,000.00 210,000.00 9,690.67 200,309.33 $ 842,000.00 $ 198,000.00 $ 1,040,000.00 $ 683,196.40 $ (356,803.60) Administrative Total Total Work Order Description ion Budeeted Actual Difference 52103 Natural Gas Service Truck $ - $ 92,965.66 $ (92,965.66) 52201 EV Fast Charger 51,019.00 (51,019.00) 52203 Replace 037 Dump Truck 74,000.00 74,000.00 52204 Replace 130 57,004.36 (57,004.36) 52205 Replace 948 84,000.00 84,000.00 52206 Paint Booth 28,727.52 (28,727.52) 52301 International 4900 w/Altec 310,000.00 - 310,000.00 52302 Replace 995 2010 Dodge Dakota 35,000.00 - 35,000.00 52303 Replace 226 2012 Dodge RAM 1500 55,000.00 - 55,000.00 52304 Single Reel Trailer 20,000.00 21,220.99 (1,220.99) 52305 Underground Locator 7,500.00 - 7,500.00 52306 2023 Chevy Silverado 1500 - 45,803.40 - $ 585,500.00 $ 296,740.93 $ (288,759.07) Work Order Description 62201 2 12" Valves, Vacuum Purging, Pigging Lat Lin( 62301 HCP Interconnect 62302 RNG Interconnect 62303 Fairfax Interconnect Downsize 62304 SCADA for HCP Interconnect 62305 SCADA for RNG Interconnect 62306 Misc Developments & System Improvements 62307 City Projects 62308 50 psig Imp Project- Distribution Main 62309 Isolated Main Replacement 62310 Improvements to Regulator Stations 62311 50 psig Improvement Project- DRS 62312 Service Lines 62313 Meters, AMI, and All Fittings 62314 Residential Regulators 62315 Industrial Metering and Regulation 62316 CP AMI Monitors, AMI Pressure Monitors Natural Gas Total Total Materials Labor Budgeted Actual Difference - - - 258,612.93 258,612.93 875,000.00 3,000.00 878,000.00 94,404.50 (783,595.50) 950,000.00 4,000.00 954,000.00 - (954,000.00) 65,000.00 1,000.00 66,000.00 - (66,000.00) 27,500.00 3,000.00 30,500.00 10,079.50 (20,420.50) 27,500.00 3,000.00 30,500.00 - (30,500.00) 50,000.00 10,000.00 60,000.00 6,050.23 (53,949.77) 15,000.00 3,000.00 18,000.00 7,492.01 (10,507.99) 700,000.00 3,000.00 703,000.00 - (703,000.00) 27,500.00 5,000.00 32,500.00 - (32,500.00) 20,000.00 5,000.00 25,000.00 - (25,000.00) 275,000.00 1,000.00 276,000.00 - (276,000.00) 57,000.00 15,000.00 72,000.00 48,782.03 (23,217.97) 165,000.00 4,000.00 169,000.00 33,014.62 (135,985.38) 9,000.00 9,000.00 4,546.30 (4,453.70) 25,000.00 3,500.00 28,500.00 29,097.90 597.90 50,000.00 3,000.00 53,000.00 - (53,000.00) $ 3,338,500.00 $ 66,500.00 $ 3,405,000.00 $ 492,080.02 $ (2,912,919.98) ,c,« HUTCHINSON UTILITIES COMMISSION Board Action Form f tit W Agenda Item: Review Policies Presenter: Angie Radke Agenda Item Type: Time Requested (Minutes): 5 Review Policies Attachments: Yes BACKGROUND/EXPLANATION OFAGENDA ITEM: As part of HUC's standard operating procedures, a continual policy review is practiced. This month, the following policies were reviewed and no changes are recommended on these policies at this time: i. CIP Rebate Level of Authority ii. Delegation of Authority Policy iii. Financial Reserve Policy iv. Service Beyond City Limits of Hutchinson v. Surplus Property Policy BOARD ACTION REQUESTED: None Fiscal Impact Included in current budget: Budget Change: PROJECTSECTION: Total Project Cost: Remaining Cost: Adopted January 27, 2010 Conservation Improvement Program — Rebate Level of Authority All commercial and industrial Conservation Improvement Program rebates in the amount of $25,000 or greater shall be reviewed and approved by Hutchinson Utilities Commission prior to the issuance of the rebate to the recipient. Adopted July 31, 2013 Amended June 27, 2018 Delegation of Authority From time to time the General Manager will be absent. In the absence of the General Manager and when the situation warrants, every effort to contact the General Manager will be made. If the efforts are unsuccessful and the situation still exists, the General Manager's full authority will be delegated to the Natural Gas Division Director. If the Natural Gas Director is absent or cannot be contacted and the situation still exists, the General Manager's full authority is delegated collectively to the Department Managers; Transmission and Distribution, Engineering Services, Production, Financial/Customer Service. When authority has been delegated, the General Manager will be informed, as soon as is possible and practical, of any actions taken or decisions made by the respective director or managers. HUTCHINSON UTILITIES FINANCIAL RESERVE POLICY A. PURPOSE: In order to maintain stable rates and provide reliable service, Hutchinson Utilities Commission (HUC) must have various tools in place to deal with changes in costs or operational performance. Maintaining appropriate financial reserves is one such tool that ensures sufficient funding is available for current operating, capital and debt service needs. Financial reserves absorb short-term financial variability resulting from unexpected operational changes or can reduce the need for large amounts of debt. This policy establishes a Capital Reserve (CR), which is used to cover acquisition of capital assets, including replacement of existing assets, and an Operating Reserve (OR), which addresses short-term financial volatility. HUC will establish a Capital Reserve and Operating Reserve for each of the two utilities — Electric and Gas. B. DEFINITIONS: Hutchinson Utilities Commission reserves can be classified into three broad categories that include Restricted Cash Reserves, Capital Reserve Funds, and Operating Reserve Funds. A "fund" is a segregation within the Utility's accounting system to keep sources and uses for a particular purpose easily identifiable and reportable. C. GENERAL PROVISIONS In the context of funding future capital equipment or facilities or replacing existing assets with substantial value HUC will analyze the most cost effective and efficient method to finance a project, be it through debt financing, pay -as -you go financing, use of reserves, use of contractual agreements, or through some combination of those various sources or others that may present themselves. At a minimum, reserve balances will be reviewed on an annual basis at, or near, the end of the fiscal year during preparation of the Capital & Operating Spending Plans to ensure adequate compliance with policy and intended funding targets. The minimum funding requirements established for each fund represents the baseline financial condition that is acceptable to the Commission from a risk and long-range financial planning perspective. Maintaining reserves at appropriate levels is a prudent, ongoing business process that consists of an assessment and application of various revenue generating alternatives. These alternatives (either alone or in combination with each other) include, but are not limited to: fees & charges, capital financing, investment of funds, contractual commitments, and levels of capital expenses. I. RESTRICTED RESERVES MR) - Restrictions on these monies are imposed by an outside source such as creditors, grantors, contributors, laws or regulations governing use. An example of restricted funds is bond reserve covenants required as a part of debt issuance. The funds are legally protected by bond covenants and can only be used in the event of default by HUC or to pay down principal at maturity. A. Funding Amount — The bond reserve requirements are established at the time of bond issuance. B. The sources of funds for the (RR) come from the undesignated fund balance of each utility which can change annually based on yearly operating performance and accumulated net revenues and, when appropriate, available short-term liquidity arrangements. 11. CAPITAL RESERVES (CR) - This reserve is established by action of the board to fund capital projects including electric and gas distribution & transmission system infrastructure, production facilities, and fleet that are a part of the 5-year capital improvement plan so HUC can avoid issuing bonds to pay for maintaining normal operations. This reserve is not intended to fund large major capital purchases. (i. e ... Fleet, infrastructure replacement or acquisitions) A. Funding Amount —Minimum funding shall be targeted at the estimated current replacement costs of assets expected to be replaced within the next five years. B. Funding Sources — The sources of funds for the (CR) come from the undesignated fund balance of each utility which can change annually based on yearly operating performance and accumulated net revenues and, when appropriate, available short-term liquidity arrangements. 111. OPERATING RESERVES (OR) — This reserve is established by action of the board to address short- term financial risk or variability resulting from unexpected operating results and to address those financial risks that have a more immediate potential impact on the existing organization cost structure. (i.e... Rate Stabilization Reserve Funds, Catastrophic Reserve Funds, PILOT Reserve Funds, Operating Reserves) A. Risk Exposures — Potential sources of cash flow variability addressed by the (OR) include the following risk exposures: 1. Reductions in overall customer demand, 2. Changes in total system load resulting from the actions of large customers, 3. Failure to achieve the budgeted level of net income, 4. Changes in the costs of purchased power, 5. Catastrophic disasters or community events 6. General operation exposures, such as timing mismatch between revenue receipts and expense payment, unforeseen maintenance costs, regulatory compliance costs, and other unexpected increases in the operating budget B. Funding Amount —Target (OR) level has been set at a minimum of 60 days and a maximum of 90 days of total budgeted operating expenses for both the Electric Division and Gas Division. Since the (OR) changes annually for each division based on the following years budget, the (OR) will be adjusted annually. The (OR) target is in addition to the other operating reserve funds listed above. C. Funding Sources — The sources of funds for the (OR) come from the undesignated fund balance of each utility which can change annually based on yearly operating performance and accumulated net revenues and, when appropriate, available short-term liquidity arrangements. IV. FINANCIAL RESERVES HIERARCHY OF FUNDING — The following lists the priorities applied to HUC's reserves. A. Maintaining Operating Reserves (OR) within a 60 day to 90 day operating range. B. Once the Target (OR) level is achieved, excess cash may be applied to the (CR) or other areas at the discretion of the Hutchinson Utilities Commission. V. FINANCIAL RESERVES REPLENISHMENT— The above section describes the hierarchy of funding the reserves. The following describes what actions may be taken to generate cash and replenish the reserves under different scenarios of each of the two utilities. A. If the (OR) and (CR) are at the Target Level: Take no action B. If either the (OR) or (CR) is below the Target Level or if both the (OR) and (CR) are below the Target Level: Take no action during the current year, reevaluate the following year and reduce expenses and/or increase revenues, if necessary, to reach the Target Level within the next three years. VI. FINANCIAL RESERVES FUNDING LEVEL AND FUND BALANCE REVIEWS — The Target levels and fund balance are to be reviewed as follows: A. Target Level Review: Although the actual monetary values are reviewed annually and adjusted to reflect target goals when approving budgets, the Target (OR) and (CR) funding levels are to be evaluated every year. For example, the Commission could revise (reduce or increase) the (OR) or (CR) reserves based on future external factors and forward -looking cost drivers. B. Financial Reserves Fund Balance Review: The (OR) and (CR) fund balances are to be monitored monthly by the Finance Department and reviewed annually during the budget review process by the Commission or if an event were suddenly to reduce the fund balances. HUTCHINSON UTILITIES COMMISSION NATURAL GAS SERVICE BEYOND THE CITY LIMITS OF HUTCHINSON DISTRIBUTION MAIM EXTENSION POLICY THIS DOCUMENT SETS FORTH THE PROCEDURES TO BE OBSERVED WHEN EXTENDING A NATURAL GAS DISTRIBUTION MAIN BEYOND THE CITY LIMITS OF HUTCHINSON. HUTCHINSON UTILITIES COMMISSION DISTRIBUTION MAIN EXTENSION POLICY SERVICE BEYOND CITY LIMITS OF HUTCHINSON 1. DEFINITIONS NATURAL GAS DISTRIBUTION MAIN NATURAL GAS DISTRIBUTION MAIN IS DEFINED AS THAT PORTION OF THE HUC'S NATURAL GAS PIPING AND RELATED FACILITIES WHICH ARE INTENDED TO PROVIDE SERVICE TO MORE THAN A SINGLE CUSTOMER. SUCH PIPING IS NORMALLY LOCATED IN PUBLIC STREETS AND ITS RIGHT- OF-WAY OR ADJACENT TO PROPERTY LINES. 2. INDIVIDUAL REQUESTS FOR GAS MAIN EXTENSION A. APPLICATION PROSPECTIVE CUSTOMERS CURRENTLY WITHOUT NATURAL GAS SERVICE MAY REQUEST SUCH SERVICE BY SUBMITTING A WRITTEN APPLICATION TO HUTCHINSON UTILITIES COMMISSION (HUC). HUC SHALL INVESTIGATE THE POSSIBILITY OF INSTALLING GAS MAIN TO THE CUSTOMER AND SHALL MAKE AN ESTIMATE OF THE COSTS INVOLVED. HUC IS UNDER NO OBLIGATION TO EXTEND NATURAL GAS SERVICE BEYOND THE CITY LIMITS OF HUTCHINSON, MN. B. ALLOWANCES EACH CUSTOMER SHALL RECEIVE A CONSTRUCTION ALLOWANCE BASED ON PROJECTED MARGINAL REVENUE. 1) RESIDENTIAL CUSTOMERS - $9 1 5.00 2) FIRM COMMERCIAL CUSTOMERS ALLOWANCE FOR MAIN SHALL BE BASED ON CUSTOMER'S ESTIMATED ANNUAL REVENUE USING THE FOLLOWING FORMULA (BASED ON SEVEN YEAR RECOVERY): ALLOWANCE = $(U x M) x 7 PAGE 1 OF 5 WHERE: U = ESTIMATED LONG TERM ANNUAL, USAGE IN MCF M = APPLICABLE MARGIN PER MCF MONTHLY "METER CHARGE" NOT CONSIDERED IN CALCULATING CUSTOMER ALLOWANCE AS THIS IS A FIXED COST TO HUC. C. CUSTOMER CONTRIBUTIONS A CONTRIBUTION SHALL BE REQUIRED IF THE ESTIMATED CONSTRUCTION COST OF MAIN EXCEEDS THE MAIN ALLOWANCE(S) FOR THE CUSTOMER(S) REQUESTING THE EXTENSION. THIS PAYMENT IS DUE AS A SINGLE PAYMENT PRIOR TO THE INSTALLATION OF THE MAIN. HOWEVER, IF A RESIDENTIAL CUSTOMER'S CONTRIBUTION FOR MAIN EXCEEDS $300.00, THE CUSTOMER, WITH THE APPROVAL OF HUC, MAY ELECT TO MAKE A SINGLE PAYMENT BEFORE CONSTRUCTION BEGINS OR AGREE TO PAY THE CONTRIBUTION IN TWELVE (1 2) EQUAL INSTALLMENTS, INCLUDING A FINANCE CHARGE BASED ON HUC'S CURRENT WEIGHTED COST OF CAPITAL. THESE INSTALLMENTS SHALL BE BILLED WITH THE UTILITY BILL AND BE PAYABLE ON THE SAME DATE AS THE UTILITY BILL. ALL CONTRIBUTIONS SHALL BE REFUNDABLE IN ACCORDANCE WITH SECTION 3. OF THIS SCHEDULE. 3. REAPPORTIONMENT AND REFUNDS OF CONTRIBUTIONS A. REAPPORTIONMENT OF CUSTOMER CONTRIBUTION WHEN ADDITIONAL CUSTOMERS TAKE SERVICE FROM A MAIN EXTENSION WHICH HAD REQUIRED A CUSTOMER CONTRIBUTION, THE ORIGINAL CONTRIBUTION AND ANY NEW CONTRIBUTION WILL BE REAPPORTIONED AMONG ALL CUSTOMERS ON THE EXTENSION IF THE REAPPORTIONMENT DOES NOT CAUSE AN INCREASE IN ANY EXISTING CUSTOMER'S CONTRIBUTION. IF THE REAPPORTIONMENT CALCULATION WOULD CAUSE AN INCREASE TO ANY CUSTOMER'S CONTRIBUTION, THE PORTION OF NEW MAIN FACILITIES UNDER CONSIDERATION WILL BE CONSIDERED AS SEPARATE AND NEW GAS MAIN EXTENSION SUBJECT TO ALL THE GAS EXTENSION RULES. B. REFUNDS OF CUSTOMERS WITH NO ADDITIONAL CONTRIBUTION THE HUC SHALL MAKE REFUNDS TO THE CUSTOMER(S) OR DEVELOPER WHO MADE THE CONTRIBUTIONS) TOWARD THE EXTENSION OF MAIN FOR A PERIOD OF FIVE (5) YEARS FROM THE INSTALLATION DATE. WHEN THE HUC CONNECTS NEW CUSTOMERS TO THIS PORTION OF MAIN EXTENSION, THE REFUND SHALL BE EQUAL TO THE CHANGE IN THE CUSTOMER CONTRIBUTION VALUE AFTER PAGE 2OF5 REAPPORTIONING THE CONTRIBUTION USING THE ALLOWANCE IN EFFECT AT THE TIME THE EXTENSION WAS INSTALLED. WHEN THE HUC MAKES AN EXTENSION OF MAIN TO SUBSEQUENT CUSTOMER(S) THAT DOES NOT REQUIRE A CONTRIBUTION FROM THE SUBSEQUENT CUSTOMER(S), THE REFUND SHALL, BE EQUAL, TO THE CHANGE IN THE CUSTOMER ALLOWANCE IN EFFECT AT THE TIME THE ORIGINAL EXTENSION WAS INSTALLED AND THE ALLOWANCE IN EFFECT FOR THE NEW FACILITIES LESS THE CONSTRUCTION COSTS OF ALL MAIN. C. SINGLE CUSTOMER PAYMENT OF CONTRIBUTION IF AN INDIVIDUAL CUSTOMER AGREES IN WRITING BEFORE THE MAIN EXTENSION IS INSTALLED TO PAY THE TOTAL REQUIRED CONTRIBUTION, THAT CUSTOMER SHALL BE ELIGIBLE FOR ALL MAIN ALLOWANCE REFUNDS FROM ALL SUBSEQUENT CUSTOMERS ON THE EXTENSION DURING THE REFUND PERIOD. SUCH A WRITTEN AGREEMENT WILL THEREBY PRECLUDE ANY REAPPORTIONMENT OF THE CONTRIBUTION AMONG SUBSEQUENT CUSTOMERS. 1) IF A FURTHER MAIN EXTENSION OFF THE ORIGINAL EXTENSION IS REQUIRED TO SERVE A SUBSEQUENT CUSTOMER AND THE MAIN COST IS LESS THAN THE TOTAL MAIN ALLOWANCE AVAILABLE, THE UNUSED ALLOWANCE SHALL BE REFUNDED TO THE CUSTOMER WHO MADE THE SINGLE PAYMENT CONTRIBUTION OUTLINED ABOVE. 2) IF A FURTHER MAIN EXTENSION OFF THE ORIGINAL EXTENSION IS REQUIRED TO SERVE A SUBSEQUENT CUSTOMER AND THE MAIN COSTS EXCEEDS THE TOTAL MAIN ALLOWANCE AVAILABLE, THE SUBSEQUENT CUSTOMERS SHALL PAY THE CONTRIBUTION FOR THE NEW FACILITIES. 4. RIGHT TO REFUND THE RIGHT TO RECEIVE A REFUND OF ANY CONTRIBUTION HELD HEREUNDER WILL ATTACH TO THE OWNERSHIP OF THE PREMISES FOR WHICH THE ORIGINAL EXTENSION WAS MADE. ANY REFUND SHALL BE MADE TO THE PERSON WHO OWNS SUCH PREMISES) AT THE TIME THE REFUND IS PAID UNLESS THE CONTRIBUTOR HAS RESERVED THE RIGHT TO RECEIVE SUCH REFUND IN THE CONVEYANCE OF THE PREMISES) TO A SUBSEQUENT OWNER AND DEMONSTRATES THAT TO THE HUC. IN THE CASE OF A DEVELOPER MAKING A CONTRIBUTION TO EXTEND GAS INTO A DEVELOPMENT, THE RIGHT TO RECEIVE A REFUND SHALL ATTACH TO THE OWNER OF THE DEVELOPMENT AT THE TIME THE REFUND BECOMES DUE, UNLESS, IN THE CONVEYANCE OF THE DEVELOPMENT, THE DEVELOPER PROVIDES THE HUC WITH A WRITTEN AGREEMENT RESERVING THE RIGHT TO RECEIVE SUCH REFUNDS. PAGE 3OF5 IN NO CASE SHALL THE TOTAL REFUND(S) EXCEED THE AMOUNT OF THE CONTRIBUTION. J. CLEARING RIGHTS AND COSTS CUSTOMER REQUESTING SERVICE SHALL FURNISH, WITHOUT EXPENSE TO THE HUC, RIGHT-OF-WAY, EASEMENTS, PERMITS AND ADDITIONAL COSTS INCURRED TO PROVIDE ADEQUATE CLEARING FOR THE MAIN EXTENSION TO SERVE THE CUSTOMER ALONG A ROUTE APPROVED BY THE HUC AFTER CONSULTING WITH THE CUSTOMER. IF REQUESTED BY THE CUSTOMER, THE HUC WILL DO THE CLEARING AT CUSTOMER'S EXPENSE. THE CUSTOMER SHALL PAY THE HUC THE ESTIMATED COST OF CLEARING TO BE DONE BY THE HUC. COSTS WILL BE ADJUSTED TO ACTUAL COSTS UPON COMPLETION OF THE JOB. 6. TITLE THE TITLE TO ALL DISTRIBUTION MAIN EXTENSIONS MADE BY THE HUC HEREUNDER REMAINS WITH THE HUC. THE HUC MAY AT ANY TIME ADD ADDITIONAL CUSTOMERS TO OR MAKE NEW EXTENSIONS TO AN EXISTING EXTENSION WITHOUT THE CONSENT OF ANY CUSTOMER OR CUSTOMERS WHO CONTRIBUTED TO THE COST OF THE EXISTING EXTENSION, AND WITHOUT INCURRING ANY LIABILITY FOR REFUNDING CONTRIBUTIONS OTHER THAN AS PROVIDED HEREIN. %. CONSTRUCTION STANDARDS ALL NATURAL GAS DISTRIBUTION SYSTEM EXTENSIONS CONSTRUCTED HEREUNDER SHALL CONFORM TO THE HUC'S STANDARDS OF CONSTRUCTION, AND SHALL MEET THE REQUIREMENTS OF GOVERNMENTAL REGULATORY BODIES HAVING JURISDICTION. 8. GENERAL PROVISIONS A. IF IN THE HUC'S SOLE JUDGMENT THE HUC NEEDS AN EASEMENT OVER CUSTOMER'S PROPERTY IN ORDER TO FURNISH SERVICE TO CUSTOMER, CUSTOMER SHALL PROVIDE HUC WITH AN EASEMENT AT NO EXPENSE TO HUC. IF IN THE HUC'S SOLE JUDGMENT HUC NEEDS AN EASEMENT OR EASEMENTS OVER PROPERTY NOT OWNED BY CUSTOMER IN ORDER TO FURNISH SERVICE TO CUSTOMER, CUSTOMER SHALL OBTAIN THE EASEMENT(S) AT NO EXPENSE TO HUC. B. NO STRUCTURES SHALL BE PLACED OVER THE ROUTE OF THE HUC'S NATURAL GAS FACILITIES. HOWEVER, SUCH PROPERTY MAY BE USED FOR GARDENS AND OTHER PURPOSES WHICH WILL NOT INTERFERE WITH MAINTENANCE AND REPLACEMENT OF HUC'S NATURAL GAS FACILITIES. C. PROPERTIES SUBJECT TO AN EASEMENT GRANTED TO HUC SHALL BE GRADED TO A LEVEL WHICH SHALL NOT BE ABOVE OR MORE PAGE 4OF5 THAN 6 INCHES BELOW FINISHED GRADE, PRIOR TO THE TIME INSTALLATION OF NATURAL GAS FACILITIES IS COMMENCED BY HUC. THE HUC SHALL BE NOTIFIED IN ADVANCE OF ANY CHANGES IN GRADE AFTER THE NATURAL GAS FACILITIES HAVE BEEN INSTALLED BY HUC, AND HUC SHALL BE REIMBURSED FOR ANY AND ALL COSTS INCURRED AS A RESULT OF SUCH CHANGE. D. HUC SHALL NOT BE LIABLE FOR DAMAGE TO TREES, SHRUBS, FENCES, SIDEWALKS, DRIVEWAYS OR OTHER OBSTRUCTIONS INCIDENTAL TO THE INSTALLATIONS, MAINTENANCE OR REPLACEMENT OF NATURAL GAS FACILITIES, UNLESS SUCH DAMAGE IS CAUSED BY ITS OWN NEGLIGENCE. PAGE 5OF5 Amended November 25, 2020 Policy on Disposal of Surplus Property DISPOSAL OF EXCESS PROPERTY DECLARATION OF SURPLUS; SALE AUTHORIZATION. The General Manager may, from time to time, recommend to the Hutchinson Utilities Commission that certain personal property (chattels) owned by the Hutchinson Utilities Commission is no longer needed for utility purpose and should be sold. By action of the Commission, this property shall be declared surplus, the value estimated and the General Manager authorized to dispose of that property in the manner stated herein. SURPLUS VALUED UNDER $5,000 The General Manager may sell surplus property with a fair market value of less than $5,000 through negotiated sale. Surplus personal computers greater than three years old may be donated directly to public schools in the city. SURPLUS VALUED OVER $5,000 The General Manager shall offer for public sale, to the highest bidder, surplus property with a fair market value over $5,000. Notice of the public sale shall be given stating time and place of sale and generally describing the property to be sold at least ten days prior to the date of sale by publication once in the official newspaper. The sale shall be to the person submitting the highest bid. EXCEPTIONS Surplus property may be transferred or sold to other state agencies or government units or eligible non-profit organizations in accordance with state law without regard to the requirements of this policy. DISPOSITION OF PROCEEDS All receipts from sales of surplus property under this policy shall be placed in the fund from which it was purchased. PERSONS INELIGIBLE TO PURCHASE HUTCHINSON UTILITIES EMPLOYEES No Utilities officer, manager, or Commissioner or an advisor serving the Utilities in a professional capacity may be purchaser of property under this policy. Other employees may purchase property of the Utility if the property is sold through a competitive bidding process that is open to the public. PROHIBITED PURCHASES It is unlawful for any person to be a purchaser of property under this policy if that purchase is prohibited by the terms of this policy. HUTCHINSON UTILITIES COMMISSION f tit ,c�,« Board Action Form Agenda Item: Approve Policy Changes ie Radke Approve Policy Changes es BACKGROUND/EXPLANATION OFAGENDA ITEM: As part of HUC's standard operating procedures, a continual policy review is practiced. The following revisions to the policies below are recommended. i. Payments of HUC Payables ii. Purchasing Policy/Credit Cards/Fixed Assets iii. Investment Policy iv. Petty Cash — Exempt and Non -Exempt BOARD ACTION REQUESTED: Approve Policy Changes Amended November 239, 20223 Policy on Payments of Hutchinson Utilities Commission Payables The Hutchinson Utilities Commission Accountant and Financial Manager are hereby authorized to issue warrant(s) drawn from the proper funds. (Resolution 153 was amended on March 25, 2009 and reads as follows): Resolution 153 authorizes HUC Accountant or HUC Financial Manager to transfer funds by wire or other electronic means. Claims shall be paid upon proper presentation during the year 023202 . This policy shall be reviewed on an annual basis. Amended 44 3oveiirriiilbeuir 29, 3()33 POLICY ON PURCHASING State Statute 471.345 Hutchinson Utilities Commission hereby adopts a general policy on the purchasing of equipment, supplies and services. Inventory Agent is authorized to create requisitions and approve purchase orders for purchases associated with Hutchinson Utilities' standard inventory part numbers, which are based on set order points and order quantities. If requirements exceed current order quantities, either an approved Bill of Materials or an approved requisition will be required. All other purchases shall require supervisor permission. Emergency situations may require a deviation from this policy to ensure electric and/or natural gas services to the customers of the Hutchinson Utilities. Joint purchasing of materials, supplies and services shall be considered with other departments only when net economic benefits can be achieved. When a tie exists between low bids, preference will be given to a local supplier. For purchases when the estimate is more than $175,000: 1. The Hutchinson Utilities Commission will authorize permission to advertise for bids. 2. Specifications shall be made available to all prospective bidders. 3. Bids will be opened at a public bid opening. Date will be set in the advertisement for bids. 4. The staff will review bids and may recommend to the Hutchinson Utilities Commission to accept the lowest responsible bidder meeting specifications. 5. Hutchinson Utilities Commission will enter into a contract with the responsible bidder. For purchases between $25,000 and $175,000: 1. The Hutchinson Utilities Commission staff will solicit written, informal quotations from at least two (2) suppliers, if possible, and tabulate the results. 2. Fuel purchases for electrical generation is an exception, for additional exceptions refer to Minnesota Statutes 2017, 471.345 Uniform Municipal Contracting Law. 3. Staff will evaluate the quotes and, in its discretion, determine which quotation is most suitable for HUC and make a recommendation thereon to the commission. 4. Hutchinson Utilities Commission will approve the quote. For purchases up to $25,000- 1 . General Manager authorized to approve purchases up to $25,000. 2. For purchases of $5,000 - $25,000, the Hutchinson Utilities Commission staff may solicit written, informal quotations from at least two (2) suppliers and tabulate the results or, in the alternative purchase equipment, supplies or services on the open market. 3. Staff will recommend acceptance of purchases of $5,000 - $25,000 to the General Manager for approval. For purchases up to $5,000: Directors, Managers, and the City Attorney are authorized to approve requisitions via the purchasing software for purchases requiring a purchase order number. If purchase order numbers are not required each department may use their assigned credit card. 1. Directors, Managers, or the City Attorney will approve all item requests prior to purchasing the item. 2. Receipts will be given to each Director, Manager, or City Attorney as items are purchased to initial, assign appropriate account number and give a description of the item purchased; then forward to Accounting. 3. Accounting will keep a file for each department until monthly credit card statements are received and reconciled. Petty cash may be used for purchases less than $2-560.00. Employees may make local purchases with prior approval from their Director/Manager. The employee has the option of using a HUC credit card, paying cash for the item, if less than $2-16)0.00, and being reimbursed from petty cash, or making the purchase at a local retailer with whom we have an account established. All receipts must to be turned in to the appropriate Director/Manager to initial, assign appropriate account number and then forward to the financial manager. CREDIT CARDS A purchase by credit card must comply with all statutes and rules applicable to Hutchinson Utilities Commission (HUC) purchases. Credit card purchases must comply with the following requirements: Minn. Stat. 412.271, subd. 2 and 471.38, subd.1. Claims presented to HUC for payment must be in writing and itemized. Bills from credit card companies do not contain the detail necessary to satisfy these requirements; therefore, HUC must retain invoices and itemized receipts for items charged to a credit card. The Office of the State Auditor strongly urges local government units to develop a comprehensive credit card use policy to avoid misappropriation of funds or other misuse of the credit card. The following are authorized to make credit card purchases on behalf of HUC: General Manager Natural Gas Director Electric Transmission/Distribution Manager Production Manager Engineering Services Manager Inventory Agent Administrative Coordinator Plant Operator Crew Chief Maintenance Crew Chief Company purchases are allowed to be made with a credit card following all HUC spending limit requirements. No personal purchases are to be made with the credit card. Receipts will be given to each department Director/Manager as items are purchased to initial, assign appropriate account numbers and give a description of the item purchased. The receipt then gets forwarded to the financial manager. The financial manager will keep a file for each department until monthly credit card statements are received and reconciled. The financial manager has the authority to approve and question all credit card purchases in so far as the policy applies. The full amount of the statement must be paid each month. FIXED ASSET CAPITALIZATION The Hutchinson Utilities Commission (HUC) will regard fixed assets as capitalized when all of the following criteria are met- 1 . Assets purchased, built or leased have useful lives of one year or more. 2. The cost of the asset (including installation) is $5,000 or more, or work order infrastructure assets whose cost is less than $5,000 individually but the aggregate total is $5,000 or more. 3. The cost of repairing or renovating the asset is $5,000 or more and prolongs the life of the asset. Costs associated with purchasing and implementing software, software maintenance and customer support are considered expenditures and will not be capitalized. Other Considerations: 1. REPAIR is an expenditure that keeps the property in ordinary efficient operating condition. The cost of the repair does not add to the value or prolong the life of the asset. All repair expenditures are charged to the appropriate department and fund. 2. IMPROVEMENTS are expenditures for additions, alterations and renovations that appreciably prolong the life of the asset, materially increase its value or adapt it to a different use. Improvements of the nature are capitalized. Examples of Repairs vs. Improvements Repairs=Expenditures All items -life less than one year All items under $5,000 Property maintenance, wall repair Replacement of machine parts to keep machine in normal operating condition Property restoration (rebuilding) for normal operations Existing building repairs Replacement of small sections of wiring, pipes or light fixtures Patching walls, minor repairs of floors, painting, etc. Patching driveways Improvements=Capitalized Assets Life of more than one year All items $5,000 or more Property rebuilding Replacement of machine parts that prolong the useful life Property restoration for something different or better Building regulation conformity Major replacement of wiring, lighting, pipes or sewer Installation of floor, wall, roof, wall covering, etc. New driveway or major repair Cleaning drapery, carpet, furniture New drapery, carpets, furniture Depreciation Method — Straight Line over the following useful lives: Buildings 35-60 years Transmission Plant (electric) 20-35 years Distribution Plant (electric) 20-35 years Building Improvement 15-30 years Transmission Plant (gas) 10-45 years Distribution Plant (gas) 10-45 years Generation Plant 10-30 years General Plant 5-10 years Vehicles 5-10 years Office Equipment 3-5 years Computer Equipment 3-5 years INVESTMENT POLICY ADOPTED OCTOBER 28, 2015 HUTCHINSON UTILITIES COMMISSION INVESTMENT POLICY PURPOSE The purpose of this policy is to establish specific guidelines Hutchinson Utilities Commission will use in the investment of Commission funds. It will be the responsibility of the General Manager and Financial Manager to invest Commission Funds in order to attain the highest market rate of return with the maximum security while meeting the daily cash flow demands of the Commission and protecting the capital of the overall portfolio. Investments will be made in accordance with all state and local statutes governing the investment of public funds. SCOPF The General Manager and Financial Manager are responsible for the investing of all financial assets of the Hutchinson Utilities Commission, excluding pension funds. These funds are accounted for in the Commission's Audited Financial Statements and Supplementary Information. III. PRUDENCE Investments shall be made with judgment and care, not for speculation, but for investment, considering the probable safety of the capital as well as the probable income to be derived. The standard of prudence to be used by investment officials shall be the "prudent person" standard and shall be applied in the context of managing the overall portfolio. Investment officers acting in accordance with this policy, with MN Statutes, Chapter 118A, and exercising due diligences shall be relieved of personal responsibility for an individual security's risk or market price change, provided that reasonable action is taken to control adverse developments and unexpected deviations are reported in a timely manner. OBJECTIVE A. Safety -Safety of principal is of critical importance to the investment program. Investments of the Commission shall be undertaken in a manner that seeks to ensure the preservation of principal in the overall portfolio. The objective will be to mitigate credit risk and interest rate risk. 1. Credit Risk - the risk of loss due to failure of the security issuer or backer, will be minimized by: - Limiting investments to the types of securities listed in Section VIII of this investment policy. - Pre -qualifying the financial institutions, broker/dealers, intermediaries, and advisors with which the Commission will do business in accordance with Section VI I. Hutchinson Utilities Commission Investment Policy Page 2 HUTCHINSON UTILITIES COMMISSION INVESTMENT POLICY - Diversifying the investment portfolio so that the impact of potential losses from any one type of security or from any one individual issuer will be minimized. Insurance or collateral may be required to ensure return of principal. 2. Interest Rate Risk — the risk that the market value of securities in the portfolio will fall due to changes in market interest rates will be minimized to: - Provide for liquidity by reviewing cash flow requirements and make investments to meet the shorter cash flow needs, thereby avoiding the need to sell securities in the open market prior to maturity. - Manage the average maturity of the overall portfolio to be consistent with the risk of the Commission. B. Liquidity - The Commission's investment portfolio will remain sufficiently liquid to enable the Commission to meet all operating requirements reasonably anticipated. The portfolio will be structured so that the portfolio emphasizes liquidity and consists largely of securities with active secondary or resale markets (dynamic liquidity). A portion of the portfolio may be placed in money market mutual funds or local government investment pools which offer same day liquidity for short-term funds. C. Yield - The Commission's investment portfolio shall be designed with the objective of attaining a market rate of return. The core of investments is limited to low -risk securities in anticipation of earning a fair return relative to the risk being assumed. Securities shall generally be held until maturity with the following exceptions: • A security with declining credit may be sold early to minimize loss of principal. • A security swap would improve the quality, yield, or target duration in the portfolio. • Liquidity needs of the portfolio require that the security be sold. IV. DELEGATION OF AUTHORITY Authority to manage the Commission's investment program is derived from MS 118A which authorizes the Commission to invest any funds not presently needed in obligations in which commission debt service funds may be invested. This law applies to all types of funds not presently needed, including all general, special revenue, permanent, trust or other funds regardless of source or purpose. Under this chapter a Government Entity may invest idle funds instate or national banks, savings and loan associations, or credit unions. No person may engage in an investment transaction except as provided under the terms of this policy and the procedures established by the policy. Management responsibility for the investment program is hereby delegated to the General Manager and Financial Manager, who shall be responsible for all transactions. The Financial Manager shall establish procedures for the operation of the investment program, consistent with this policy. Such procedures may include delegation of authority to persons responsible for investment transactions. Hutchinson Utilities Commission Investment Policy Page 3 HUTCHINSON UTILITIES COMMISSION INVESTMENT POLICY V. ETHICS AND CONFLICTS OF INTEREST The General Manager and Finance Staff involved in the investment process shall refrain from conducting personal business activity that could conflict with proper execution of the investment program, or which could impair their ability to make impartial investment decisions. Investment staff shall annually disclose to the Commission any material financial interests as required by state statute. Investment staff shall subordinate their personal investment transactions to those of the Commission, particularly with regard to the time of purchases and sales, and shall refrain from undertaking personal investment transactions with the same individual with whom business is conducted on behalf of the Commission. VI. AUTHORIZED FINANCIAL DEALERS AND INSTITUTIONS The Commission will annually, by resolution, approve depositories and a list of financial institutions authorized to provide investment services. A. Only approved security broker/dealers, selected by creditworthiness, shall be utilized, with a minimum of $10,000,000 capital and at least five years of operation. B. Financial institutions must be qualified as a "depository" by the Hutchinson Utilities Commission; these may include "primary" dealers or regional dealers that qualify under Securities & Exchange Commission Rule 15C3-1 (Uniform Net Capital Rule). C. All investments must be insured, or registered, or securities must be held by the Commission or its agent in the Commission's name. D. No public deposit shall be made except in a qualified public depository, as established by state laws. E. When investments purchased by the Commission are held in safekeeping by a broker/dealer, they must provide asset protection of $500,000 through Securities Investor Protection Corporations (SIPC), and at least another $2,000,000 Supplemental Insurance Protection, provided by the broker dealer. F. Before engaging in investment transactions with the Hutchinson Utilities Commission, the supervising officer at the securities broker/dealer shall submit a certification of "Notification to Broker and Certification by Broker Pursuant to MN Statute 118K. Said certification will state that the broker/dealer has reviewed the investment policies and objectives, as well as applicable state law, and agrees to disclose potential conflicts or risk to public funds that might arise out of business transactions between the securities broker/dealer firm and the Commission. All financial institutions shall agree to undertake reasonable efforts to preclude imprudent transactions involving the Commission's funds. VII. AUTHORIZED AND SUITABLE INVESTMENTS It shall be the policy of the Hutchinson Utilities Commission that available funds be invested to the best rates obtainable at the time of investment in conformance with the legal and administrative guideline outlined herein. US Treasury Obligations and Federal Agency Securities will be given preference when the yields are equal to or greater than alternative investments. Hutchinson Utilities Commission Investment Policy Page 4 HUTCHINSON UTILITIES COMMISSION INVESTMENT POLICY The investments of the Hutchinson Utilities Commission will be made in accordance with Minnesota Statutes, section 118A, which lists all permissible investments for Government Entities. COLLATERAL Interest -bearing deposits in authorized depositories must be fully insured or collateralized. Collateralization will be required on Certificates of Deposits (where the dollar amount is in excess of FDIC coverage). In order to anticipate market changes and provide a level of security for all funds, the collateralization level will be 110% of the market value of principal and accrued interest. When the pledged collateral consists of notes secured by first mortgages, the collateral level will be 140% of the market value of principal and accrued interest. Collateral shall be deposited in the name of the Commission, subject to release by the Financial Manager. ►VAI1_\01:\:11:11U1►[evil 01DZ911RI11i1BYO Securities purchased shall be held in a segregated account for the Commission's benefit at a third party trustee as safekeeping agent. The investment dealer or bank in which the security is purchased shall issue a confirmation ticket to the Commission listing the specific instrument, issuer, coupon, maturity, CUSIP number, purchase or sale price, transaction date, and other pertinent information. The financial service provider which executes the transaction on the Commission's behalf shall deliver all securities on a delivery versus payment method (DVP) to the designated third party. Delivery versus payment (DVP) is a way of controlling the risk to which securities market participants are exposed. Delivery of securities (i.e. the change in their ownership) is done simultaneously with payment. This means that neither the buyer nor the seller is exposed to the risk that the other will default. The Commission may not invest in securities that are uninsured. Securities will be held in the Commission's designated accounts. Investments, contracts and agreements may be held in safekeeping with: - Any Federal Reserve bank; - Any bank authorized under the laws of the United States or any state to exercise corporate trust powers, including, but not limited to, the bank from which the investment is purchased. - A primary reporting dealer in United States government securities to the Federal Reserve Bank of New York; or - A securities broker -dealer having its principal executive office in Minnesota, licensed under chapter 80A, or an affiliate of it, and regulated by the Securities and Exchange Commission; provided that the government entity's ownership of all securities is evidenced by written acknowledgments identifying the securities by the names of the issuers, maturity dates, interest rates, CUSIP number, or other distinguishing marks. IX. DIVERSIFICATION Hutchinson Utilities Commission Investment Policy Page 5 HUTCHINSON UTILITIES COMMISSION INVESTMENT POLICY The Financial Manager or investment designee will attempt to diversify its investments according to type and maturity. The Commission will attempt to match its investments with anticipated cash flow requirements. Extended maturities may be utilized to take advantage of higher yields. Diversifications strategies shall be determined and revised periodically by the Commission for all funds. A. Institutions — Diversity between financial institutions used. a. The Financial Manager or investment designee will attempt to diversify its investments amongst investment companies, keeping in mind that some temporary fluctuations may occur throughout the year (i.e. GO Bonds for projects, etc.) b. No funds may be invested in any one investment company in excess of the amount insured by it. B. Maturities — Diversity in length of maturities. a. Investments shall be made to assure that funds are constantly available to meet immediate payment requirements b. No investments shall be made with a term of more than 10 years.. C. Investments— The Commission should maintain a diversity of investments. a. Depending on market conditions, with the exception of US Treasury Securities, authorized pools, and Federal Agencies (backed by the full faith and credit of the US Government or its agencies), no more than 50% of the Commission's total investment portfolio may be invested in any one of the following: Certificates of Depositor Commercial Paper. X. POOLING OF INVESTMENTS For the purpose of making the maximum amount of funds available for investment, the cash for Commission Funds, as listed in Part II, is pooled in an investment account. Interest earnings are allocated among the various funds based upon their average cash balance. XI. INVESTMENT POLICY ADOPTION The Commission's Investment Policy shall be adopted by resolution by the Hutchinson Utilities Commission. The Policy shall be reviewed on an annual basis and any modifications made thereto must be approved by the Hutchinson Utilities Commission. Hutchinson Utilities Commission Investment Policy Page 6 HUTCHINSON UTILITIES COMMISSION INVESTMENT POLICY APPENDIXA — MS STATUTE 118A. DEPOSIT AND INVESTMENT OF LOCAL PUBLIC FUNDS. 118A.01 DEFINITIONS. Subdivision 1.Application. The definitions in this section apply to sections 118A.01 to 118A.06. Subd. 2.Government entity. (a) "Government entity" means a county, city, town, school district, hospital district, public authority, public corporation, public commission, special district, any other political subdivision, except an entity whose investment authority is specified under chapter I IA or 356A. (b) For the purposes of sections I I8A.02 and I I8A.03 only, the term includes an American Indian tribal government entity located within a federally recognized American Indian reservation. Subd. 3.Financial institution. "Financial institution" means a savings association, commercial bank, trust company, credit union, or industrial loan and thrift company. Subd. 4.Public funds. "Public funds" means all general, special, permanent, trust, and other funds, regardless of source or purpose, held or administered by a government entity, unless otherwise restricted. History: 1996 c 399 art I s 21 1999 c 151 s 39 118A.02 DEPOSITORIES; INVESTING: SALES, PROCEEDS, IMMUNITY. Subdivision 1.Designation; delegation. (a) The governing body of each government entity shall designate, as a depository of its funds, one or more financial institutions. (b) The governing body may authorize the treasurer or chief financial officer to: (1) designate depositories of the funds; (2) make investments of funds under sections 118A.0I to 118A.06 or other applicable law; or (3) both designate depositories and make investments as provided in this subdivision. Hutchinson Utilities Commission Investment Policy Page 7 HUTCHINSON UTILITIES COMMISSION INVESTMENT POLICY Subd. 2.Sale; proceeds; immunity, if loss. (a) The treasurer or chief financial officer of a government entity may at any time sell obligations purchased pursuant to this section and the money received from such sale, and the interest and profits or loss on such investment shall be credited or charged, as the case may be, to the fund from which the investment was made. (b) Neither such official nor government entity, nor any other official responsible for the custody of such funds, shall be personally liable for any loss sustained from the deposit or investment of funds in accordance with the provisions of sections I I8A.04 and 118A.05. History: 1996 c 399 art I s 3 118A.03 WHEN AND WHAT COLLATERAL REQUIRED. Subdivision I.For deposits beyond insurance. To the extent that funds on deposit at the close of the financial institution's banking day exceed available federal deposit insurance, the government entity shall require the financial institution to furnish collateral security or a corporate surety bond executed by a company authorized to do business in the state. For the purposes of this section, "banking day" has the meaning given in Federal Reserve Board Regulation CC, Code of Federal Regulations, title 12, section 229.2(f), and incorporates a financial institution's cutoff hour established under section 336.4-108. Subd. 2.In lieu of surety bond. The following are the allowable forms of collateral in lieu of a corporate surety bond: (1) United States government Treasury bills, Treasury notes, Treasury bonds; (2) issues of United States government agencies and instrumentalities as quoted by a recognized industry quotation service available to the government entity; (3) general obligation securities of any state or local government with taxing powers which is rated "A" or better by a national bond rating service, or revenue obligation securities of any state or local government with taxing powers which is rated "AA" or better by a national bond rating service; (4) general obligation securities of a local government with taxing powers may be pledged as collateral against funds deposited by that same local government entity; (5) irrevocable standby letters of credit issued by Federal Home Loan Banks to a municipality accompanied by written evidence that the bank's public debt is rated "AA" or better by Moody's Investors Service, Inc., or Standard & Poor's Corporation; and (6) time deposits that are fully insured by any federal agency. Hutchinson Utilities Commission Investment Policy Page 8 HUTCHINSON UTILITIES COMMISSION INVESTMENT POLICY Subd. 3. Amount. The total amount of the collateral computed at its market value shall be at least ten percent more than the amount on deposit at the close of the financial institution's banking day, except that where the collateral is irrevocable standby letters of credit issued by Federal Home Loan Banks, the amount of collateral shall be at least equal to the amount on deposit at the close of the financial institution's banking day. The financial institution may furnish both a surety bond and collateral aggregating the required amount. Subd. 4.Assignment. Any collateral pledged shall be accompanied by a written assignment to the government entity from the financial institution. The written assignment shall recite that, upon default, the financial institution shall release to the government entity on demand, free of exchange or any other charges, the collateral pledged. Interest earned on assigned collateral will be remitted to the financial institution so long as it is not in default. The government entity may sell the collateral to recover the amount due. Any surplus from the sale of the collateral shall be payable to the financial institution, its assigns, or both. Subd. 5.Withdrawal of excess collateral. A financial institution may withdraw excess collateral or substitute other collateral after giving written notice to the governmental entity and receiving confirmation. The authority to return any delivered and assigned collateral rests with the government entity. Subd. 6.Default. For purposes of this section, default on the part of the financial institution includes, but is not limited to, failure to make interest payments when due, failure to promptly deliver upon demand all money on deposit, less any early withdrawal penalty that may be required in connection with the withdrawal of a time deposit, or closure of the depository. If a financial institution closes, all deposits shall be immediately due and payable. It shall not be a default under this subdivision to require prior notice of withdrawal if such notice is required as a condition of withdrawal by applicable federal law or regulation. Subd. 7. Safekeeping. All collateral shall be placed in safekeeping in a restricted account at a Federal Reserve bank, or in an account at a trust department of a commercial bank or other financial institution that is not owned or controlled by the financial institution furnishing the collateral. The selection shall be approved by the government entity. History: 1996 c 399 art I s 4; 2003 c 51 s I5 161 2004 c 151 s 1 2; 2004 c 174 s 2; 2007 c 44 s 7; 2007 c 57 art 3 s 39. 2008 c 154 art 10 s 1 014 a 292 s I Hutchinson Utilities Commission Investment Policy Page 9 HUTCHINSON UTILITIES COMMISSION INVESTMENT POLICY 118A.04 INVESTMENTS. Subdivision I.What may be invested. Any public funds, not presently needed for other purposes or restricted for other purposes, may be invested in the manner and subject to the conditions provided for in this section. Subd. 2.United States securities. Public funds may be invested in governmental bonds, notes, bills, mortgages (excluding high -risk mortgage -backed securities), and other securities, which are direct obligations or are guaranteed or insured issues of the United States, its agencies, its instrumentalities, or organizations created by an act of Congress. Subd. 3.State and local securities. Funds may be invested in the following: (1) any security which is a general obligation of any state or local government with taxing powers which is rated "A" or better by a national bond rating service; (2) any security which is a revenue obligation of any state or local government with taxing powers which is rated "AA" or better by a national bond rating service; and (3) a general obligation of the Minnesota housing finance agency which is a moral obligation of the state of Minnesota and is rated "A" or better by a national bond rating agency. Q1Q 1.p„ ,« ;uuii:li� vllriirll„ u, u« 0:llrlllt"21ii0.!I1 of a (.II„10011 distil-I(A W11:11.,1 au« oriiiiuul 11 urnah«uut:y u121 1c « « kuirll l n um2!l2t , <Ild QuQ i[<!!« d uirl III « II111„III«�St cat:�g2l[y kXy < 12<tloi'l ll I[X011,1d iratli,,lg ;«MWICQ 21 Q1111n2111[Mllll« 6 I'l tl,le credit «u Il uN «u «u« 112aO;u 2i!7 t�o s«;;cabal 126C,55. Subd. 4.Commercial papers. Funds may be invested in commercial paper issued by United States corporations or their Canadian subsidiaries that is rated in the highest quality category by at least two nationally recognized rating agencies and matures in 270 days or less. Subd. 5.Time deposits. Funds may be invested in time deposits that are fully insured by the Federal Deposit Insurance Corporation, i le Natiomd G'rr'..xi BI««xa«« /1 Xxxxx,�, d«ixa«I,„«, or bankers acceptances of United States banks. Subd. 6.High-risk mortgage -backed securities. For the purposes of this section and section 118A.05, "high -risk mortgage -backed securities" are: (a) interest -only or principal -only mortgage -backed securities; and Hutchinson Utilities Commission Investment Policy Page 10 HUTCHINSON UTILITIES COMMISSION INVESTMENT POLICY (b) any mortgage derivative security that: (1) has an expected average life greater than ten years; (2) has an expected average life that: (i) will extend by more than four years as the result of an immediate and sustained parallel shift in the yield curve of plus 300 basis points; or (ii) will shorten by more than six years as the result of an immediate and sustained parallel shift in the yield curve of minus 300 basis points; or (3) will have an estimated change in price of more than 17 percent as the result of an immediate and sustained parallel shift in the yield curve of plus or minus 300 basis points. Subd. 7.Temporary general obligation bonds. Funds may be invested in general obligation temporary bonds of the same governmental entity issued under section 429.091, subdivision 7, 469.178, subdivision 5, or 475.61, subdivision 6. Subd. 8.Debt service funds. Funds held in a debt service fund may be used to purchase any obligation, whether general or special, of an issue which is payable from the fund, at such price, which may include a premium, as shall be agreed to by the holder, or may be used to redeem any obligation of such an issue prior to maturity in accordance with its terms. The securities representing any such investment may be sold by the governmental entity at any time, but the money so received remains part of the fund until used for the purpose for which the fund was created. Any obligation held in a debt service fund from which it is payable may be canceled at any time unless otherwise provided in a resolution or other instrument securing obligations payable from the fund. Subd. 9.Broker; statement and receipt. (a) For the purpose of this section and section I I8A.05, the term "broker" means a broker -dealer, broker, or agent of a government entity, who transfers, purchases, sells, or obtains securities for, or on behalf of, a government entity. (b) Prior to completing an initial transaction with a broker, a government entity shall provide annually to the broker a written statement of investment restrictions which shall include a provision that all future investments are to be made in accordance with Minnesota Statutes governing the investment of public funds. (c) A broker must acknowledge annually receipt of the statement of investment restrictions in writing and agree to handle the government entity's account in accordance with these restrictions. A government entity may not enter into a transaction with a broker until the broker has provided this written agreement to the government entity. Hutchinson Utilities Commission Investment Policy Page 11 HUTCHINSON UTILITIES COMMISSION INVESTMENT POLICY (d) The state auditor shall prepare uniform notification forms which shall be used by the government entities and the brokers to meet the requirements of this subdivision. History: 118A.05 CONTRACTS AND AGREEMENTS. Subdivision I.May enter into. In addition to other authority granted in sections I I8A.0I to I I8A.06, government entities may enter into contracts and agreements as follows. Subd. 2.Repurchase agreements. Repurchase agreements consisting of collateral allowable in section I I8A.04, and reverse repurchase agreements may be entered into with any of the following entities: (1) a financial institution qualified as a "depository" of public funds of the government entity; (2) any other financial institution which is a member of the Federal Reserve System and whose combined capital and surplus equals or exceeds $10,000,000; (3) a primary reporting dealer in United States government securities to the Federal Reserve Bank of New York; or (4) a securities broker -dealer licensed pursuant to chapter 80A, or an affiliate of it, regulated by the Securities and Exchange Commission and maintaining a combined capital and surplus of $40,000,000 or more, exclusive of subordinated debt. Reverse agreements may only be entered into for a period of 90 days or less and only to meet short-term cash flow needs. In no event may reverse repurchase agreements be entered into for the purpose of generating cash for investments, except as stated in subdivision 3. Subd. 3.Securities lending agreements. Securities lending agreements, including custody agreements, may be entered into with a financial institution meeting the qualifications of subdivision 2, clause (1) or (2), and having its principal executive office in Minnesota. Securities lending transactions may be entered into with entities meeting the qualifications of subdivision 2 and the collateral for such transactions shall be restricted to the securities described in this section and section 118A.04. Subd. 4.Minnesota joint powers investment trust. Government entities may enter into agreements or contracts for: Hutchinson Utilities Commission Investment Policy Page 12 Formatted: Font: (Default) Times New Roman, 12 pt Formatted: Font: (Default) Times New Roman, 12 pt Formatted: Font: (Default) Times New Roman, 12 pt Formatted: Font: (Default) Times New Roman, 12 pt Formatted: Font: (Default) Times New Roman, 12 pt HUTCHINSON UTILITIES COMMISSION INVESTMENT POLICY (1) shares of a Minnesota joint powers investment trust whose investments are restricted to securities described in this section and section I I8A.04 d�ml scctimx f f SA .07. stibdivisio�x 7.. (2) units of a short-term investment fund established and administered pursuant to regulation 9 of the Office of the Comptroller of the Currency, in which investments are restricted to securities described in this section and section I I8A.04; (3) shares of an investment company which is registered under the Federal Investment Company Act of 1940 and which holds itself out as a money market fund meeting the conditions of rule 2a-7 of the Securities and Exchange Commission and is rated in one of the two highest rating categories for money market funds by at least one nationally recognized statistical rating organization; or (4) shares of an investment company which is registered under the Federal Investment Company Act of 1940, and whose shares are registered under the Federal Securities Act of 1933, as long as the investment company's fund receives the highest credit rating and is rated in one of the two highest risk rating categories by at least one nationally recognized statistical rating organization and is invested in financial instruments with a final maturity no longer than 13 months. Subd. 5.Guaranteed investment contracts. Agreements or contracts for guaranteed investment contracts may be entered into if they are issued or guaranteed by United States commercial banks, domestic branches of foreign banks, United States insurance companies, or their Canadian subsidiaries, or the domestic affiliates of any of the foregoing. The credit quality of the issuer's or guarantor's short- and long-term unsecured debt must be rated in one of the two highest categories by a nationally recognized rating agency. arcgrX cws 6 r c6D81Iracls for Formatted: Font: (Default) Times New Roman, 12 pt Cate racts v iffi a tcnXx of, 18 or less X�w: v be enered iwo reaardless of, ffic credit: mlality of, xe xtslcgN or gyl!atlXdtlBN(6hr°� K,i LIMCc LWCd dCIA pans xdcd ik�d�i ik c � edxi a: lca�lxi ani` ik c :YUc �tx fl i 'ffl..tCMcct:xed debt is rated itt ffic ktid,bcdai,c,ml-y by.:a mflianm llv rccog!d xrcd ratit sir ade�,l,�c y. Should the issuer's or guarantor's credit quality be downgraded below "A", the government entity must have withdrawal rights. History: 1996 c 399 art I s 61 1997 c 219 s 1; 2000 c 493 s 1 118A.06 SAFEKEEPING; ACKNOWLEDGEMENTS. Investments, contracts, and agreements may be held in safekeeping with: (1) any Federal Reserve bank; Hutchinson Utilities Commission Investment Policy Page 13 Formatted: Font: (Default) Times New Roman, 12 pt Formatted: Font: (Default) Times New Roman, 12 pt Formatted: Font: (Default) Times New Roman, 12 pt HUTCHINSON UTILITIES COMMISSION INVESTMENT POLICY (2) any bank authorized under the laws of the United States or any state to exercise corporate trust powers, including, but not limited to, the bank from which the investment is purchased; (3) a primary reporting dealer in United States government securities to the Federal Reserve Bank of New York; or (4) a securities broker -dealer having its principal executive office in Minnesota, licensed under chapter 80A, or an affiliate of it, and regulated by the Securities and Exchange Commission; provided that the government entity's ownership of all securities is evidenced by written acknowledgments identifying the securities by the names of the issuers, maturity dates, interest rates, CUSIP number, or other distinguishing marks. History: 1996 c 399 art I s 71 2010 c 234 s 2 118A.07 ADDITIONAL INVESTMENT AUTHORITY. Subdivision I.Authority provided. As used in this section, "governmental entity" means a city with a population in county city th excess o 200,000, or a coup that contains a cr o that size:, an Q �'QL!BNC:1,l. If a governmental entity meets the requirements of subdivisions 2 and 3, it may exercise additional investment authority under subdivisions 4, 5, and 6. Subd. 2.Written policies and procedures. Prior to exercising any additional authority under subdivisions 4, 5, and 6, the governmental entity must have written investment policies and procedures governing the following: (1) the use of or limitation on mutual bond funds or other securities authorized or permitted investments under law; (2) specifications for and limitations on the use of derivatives; (3) the final maturity of any individual security; (4) the maximum average weighted life of the portfolio; (5) the use of and limitations on reverse repurchase agreements; (6) credit standards for financial institutions with which the government entity deals; and (7) credit standards for investments made by the government entity. Subd. 3.Oversight process. Prior to exercising any authority under subdivisions 4, 5, and 6, the governmental entity must establish an oversight process that provides for review of the government Hutchinson Utilities Commission Investment Policy Page 14 HUTCHINSON UTILITIES COMMISSION INVESTMENT POLICY entity's investment strategy and the composition of the financial portfolio. This process shall include one or more of the following: (1) audit reviews; (2) internal or external investment committee reviews; and (3) internal management control. Additionally, the governing body of the governmental entity must, by resolution, authorize its treasurer to utilize the additional authorities under this section within their prescribed limits, and in conformance with the written limitations, policies, and procedures of the governmental entity. If the governing body of a governmental entity exercises the authority provided in this section, the treasurer of the governmental entity must annually report to the governing body on the findings of the oversight process required under this subdivision. If the governing body intends to continue to exercise the authority provided in this section for the following calendar year, it must adopt a resolution affirming that intention by December 1. Subd. 4.Repurchase agreements. A government entity may enter into repurchase agreements as authorized under section 118A.05, provided that the exclusion of mortgage -backed securities defined as "high -risk mortgage -backed securities" under section I I8A.04, subdivision 6, shall not apply to repurchase agreements under this authority if the margin requirement is 101 percent or more. Subd. 5.Reverse repurchase agreements. Notwithstanding the limitations contained in section I I8A.05, subdivision 2, the county may enter into reverse repurchase agreements to: (1) meet cash flow needs; or (2) generate cash for investments, provided that the total securities owned shall be limited to an amount not to exceed 130 percent of the annual daily average of general investable monies for the fiscal year as disclosed in the most recently available audited financial report. Excluded from this limit are: (i) securities with maturities of one year or less; and (ii) securities that have been reversed to maturity. There shall be no limit on the term of a reverse repurchase agreement. Reverse repurchase agreements shall not be included in computing the net debt of the governmental entity, and may be made without an election or public sale, and the interest payable thereon shall not be subject to the limitation in section 475.55. The interest shall Hutchinson Utilities Commission Investment Policy Page 15 HUTCHINSON UTILITIES COMMISSION INVESTMENT POLICY not be deducted or excluded from gross income of the recipient for the purpose of state income, corporate franchise, or bank excise taxes, or if so provided by federal law, for the purpose of federal income tax. Subd. 6.Options and futures. A government entity may enter into futures contracts, options on futures contracts, and option agreements to buy or sell securities authorized under law as legal investments for counties, but only with respect to securities owned by the governmental entity, including securities that are the subject of reverse repurchase agreements under this section that expire at or before the due date of the option agreement. SU )d % � (It.Iltltl it.. a„�� ��III dlltt„� u6�� tl>PI°... ---{ Formatted: Indent: Left: 0" ..��tl�6u Formatted: Font: 12 pt ,l"f, ,y�SBNBNC`•,6D(C..,a6D18N( 176i`1�C�`` 18NA C`•,(XXXCBN( I.�1X` (XXXdtV 18NAC`•,( ilXBN61`•, 1BN n10Etotiable cer(ifScd tee of: — � Formatted: Font: 12 pt 61 . )6h` It 4hX 6htllC�` CRr161CBNCCC 6hf 61C )6hCSt `C.1tIl aL �`CXXXdtlIBiStXC. XXMttXlty' Of 0I 4,C v'Catlfy Obi IC`• S,,1S` UCd i,1„Il„ INatioDB , lv or Sate fCsiC�`�I atl�` �tatlt cklar(cred 1rdtlBXic, C `�dtlA i8 gys aml loa�� dtl`ssocialioD8 . or a `s(atl(c'. ..,dtl . rd "wfltlrity of oDB c year Or less,. II,C`CBN`�C611r1dtlBNckl 6hftl f6Dl4.,t,A;N 1rdtlBXic, e,31cCi)t tklptlt f6h�`6h1r,,lt,£� tlt16hBNy,`C.1tIl dtl X;X, (klC 61C11(; �krllgatiom of the isstlilN y StN`�(1(tX(16Dt1 6D�` 1(`•, 7�Gtl�`CBN( dtlF`C �`dtl(C6y iil floc (6D L SI1 fl (cnX` ratinlLy category by dtl( least (`" o BNdtl�G16DBNdtlIIy' XCc6Dgmi"�ed Statistical tistical ratinl,y.s 6Dr,y.aL d,, tl(16DBiSaml fox a bll,gatiom hI(kl dtl XXXdtlG lrity' iiN excess o oDB c v'clg`, (Ilc s4Idor debt a bligatiom of the isstlii1, 18N (1(tXI16DBN i2�, 1(S pa;Irew are rated dtl(lc,tls( A (2r its cGI,l1iv tllcw by at least (` o mfliotlB , lly' x`Cc6Dy.BNJ,,C 1 Statistical tist.ical ratit;ly.S 62m,dtl d,,ati6Dm. Om y.` n,( CBN(`•"nJBN ffiesC,18N` trtlXXXy.BN s SIal„l Bwt 12C stXbjcc( (4I (Ilc c6Dl dtl(c�`dtlllldl,(16D81 G 1X1�`CXXX4'.,IN(`•, 6Df`•,y ctioDB mf f 8r/" J)3 1 �� Formatted: Font: 12 pt Formatted: Font: 12 pt l Formatted: Indent: First line: 0'' History: 1996 c 399 art I s 8 2014 tl 292 s 118A.08 NO SUPERSEDING EFFECT. Except as provided in Laws 1996, chapter 399, article 1, section 11, sections I I8A.0I to I I8A.06 shall not supersede any general or special law relating to the deposit and investment of public funds. History: 1996 c 399 art I s 9 Hutchinson Utilities Commission Investment Policy Page 16 EXEMPT PETTY CASH Petry cash funds are kept with the Accountant. The petty cash fund will be used to reimburse payment up to $2,550.00. Any expenditure over $2,550.00 will be reimbursed by check. Itemized receipts must be attached to a complete petty cash slip whenever possible. An employee may obtain an advance of petty cash by completing a petty cash slip and reconciling the advance with the actual amount as soon as possible. NON-EXEMPT PETTY CASH Petry cash funds are kept with the Accountant. The petty cash fund will be used to reimburse payment up to $2,550.00. Any expenditure over $2,550.00 will be reimbursed by check. Itemized receipts must be attached to a complete petty cash slip whenever possible. An employee may obtain an advance of petty cash by completing a petty cash slip and reconciling the advance with the actual amount as soon as possible. HUTCHINSON UTILITIES COMMISSION��` Board Action Form �r�turscti mmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm Agenda Item: Non -Waiver of Tort Liability Limits for General Liability Presenter: Jared Martig Agenda Item; Type: Time Requested (Minutes): 2 New Business Attachments: Yes BACKGROUND/EXPLANATION OFAGENDA ITEM: As part of the League of Minnesota Cities Insurance Trust general liability insurance renewal for the period January 2024 through December 2024, HUC must decide whether or not to waive the statutory municipal tort liability limits from $500,000 per claimant and $1,500,000 per occurrence. If HUC does waive this, then HUC must purchase excess liability coverage. Historically HUC has not waived the municipal tort limit because by doing so, HUC opens itself up to claims and potential payment above the statutory limit. Recommendation is to not waive the tort liability limits. BOARD ACTION REQUESTED: Approve non -waiver of tort liability limits for general liability for the upcoming policy period of January 2024 through December 2024 FiscalImpact: Included in current budget: No Budget Change: PROJECT SECTION: Total Project Cost: 0.00 Remaining Cost: LMC LEAGUE W'` MINNESOTA CITIES LIABILITY COVERAGE WAIVER FORM Members who obtain liability coverage through the League of Minnesota Cities Insurance Trust (LMCIT) must complete and return this form to LMCIT before their effective date of coverage. Email completed form to your city's underwriter, to pstech(a�lmc.or�, or fax to 651.281.1298. Members who obtain liability coverage from LMCIT must decide whether to waive the statutory tort liability limits to the extent of the coverage purchased. The decision to waive or not waive the statutory tort limits must be made annually by the member's governing body, in consultation with its attorney if necessary. The decision has the following effects: • If the member does not waive the statutory tort limits, an individual claimant could recover no more than $500,000 on any claim to which the statutory tort limits apply. The total all claimants could recover for a single occurrence to which the statutory tort limits apply would be limited to $1,500,000. These statutory tort limits would apply regardless of whether the member purchases the optional LMCIT excess liability coverage. • If the member waives the statutory tort limits and does not purchase excess liability coverage, a single claimant could recover up to $2,000,000 for a single occurrence (under the waive option, the tort cap liability limits are only waived to the extent of the member's liability coverage limits, and the LMCIT per occurrence limit is $2,000,000). The total all claimants could recover for a single occurrence to which the statutory tort limits apply would also be limited to $2,000,000, regardless of the number of claimants. If the member waives the statutory tort limits and purchases excess liability coverage, a single claimant could potentially recover an amount up to the limit of the coverage purchased. The total all claimants could recover for a single occurrence to which the statutory tort limits apply would also be limited to the amount of coverage purchased, regardless of the number of claimants. Claims to which the statutory municipal tort limits do not apply are not affected by this decision. LMCIT Member Name: HUTCHINSON UTILITIES COMMISSION Check one.- * The member DOES NOT WAIVE the monetary limits on municipal tort liability established by Minn. Stat. 466.04. ❑ The member WAIVES the monetary limits on municipal tort liability established by Minn. Stat. § 466.04, to the extent of the limits of the liability coverage obtained from LMCIT. Date of member's governing body meeting: Signature: Position: NOVEMBER 29, 2023 League of Minnesota Cities 3/2/2023 Liability Coverage Waiver Form Page 1 HUTCHINSON UTILITIES COMMISSION��` Board Action Form �r�turscti mmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm Agenda Item: Approve Write -Offs Presenter: Jared Martig Agenda Item; Type: Time Requested (Minutes): 2 New Business Attachments: Yes BACKGROUND/EXPLANATION OFAGENDA ITEM: We are requesting that you approve the write-offs in the amount of $4,883.37 as shown on the attached spreadsheet. Past amounts written off are listed below. 2022: $ 7,492.23 2021: $ 8,993.92 2020. $24,998.20 2019: $ 9,603.01 2018: $ 9,850.78 2017: $31,967.78 2016: $11,350.31 2015. $ 7,537.92 2014: $41,279.16 2013: $ 4,316.12 2012: $ 4,067.15 2011: $ 9,792.12 BOARD ACTION REQUESTED: Approve Write Offs FiscalImpact: Included in current budget: Budget Change: PROJECT SECTION: Total Project Cost: Remaining Cost: WRITE OFFS FOR NOVEMBER 2023 Total Electric Gas Last Pay a Bankruptcy $0.00 $0.00 $0.00 Total Electric Gas Deceased 00091155 $30.69 $30.69 00260281 $130.44 $130.44 00350456 $284.38 $113.25 $171.13 $445.51 $274.38 $171.13 Total Electric Gas Other 00210716 $6.48 $6.48 00350605 $140.26 $140.26 00350619 $152.30 $152.30 00030980 $23.89 $23.89 00050365 $181.84 $181.84 00060410 $125.68 $0.00 $125.68 00060610 $373.17 $373.17 00080265 $38.02 $38.02 00080270 $38.00 $38.00 00121452 $13.03 $13.03 00300180 $180.80 $0.00 $180.80 00350608 $39.02 $39.02 00350626 $35.48 $35.48 00420008 $32.57 $32.57 00420086 $221.22 $221.22 00435135 $10.26 $10.26 01001891 $70.31 $70.31 00260248 $10.18 $10.18 00090940 $59.29 $13.76 $45.53 00470123 $62.80 $62.80 00030750 $102.07 $102.07 00120235 $268.69 $100.96 $167.73 00121196 $69.59 $36.01 $33.58 00270155 $60.14 $60.14 00300380 $605.26 $454.79 $150.47 00350624 $148.83 $148.83 00452507 $214.69 $214.69 00020195 $207.16 $207.16 00420455 $590.66 $590.66 00420351 $89.13 $89.13 00030890 $142.64 $142.64 00370617 $124.40 $40.59 $83.71 $4,437.86 $3,590.12 $847.64 Grand Totals $4,883.37 $3,864.50 $1,018.77 Last Pav 2/19/2023 3/31/2023 12/9/2022 Last Pay 12/17/2021 10/25/2022 6/15/2022 12/17/2020 10/21/2021 3/21/2017 4/17/2022 4/28/2017 4/28/2017 8/9/2022 10/7/2021 11/14/2018 NA 10/13/2022 9/21/2022 4/8/2021 5/1/2020 2/28/2023 3/20/2017 5/15/2017 NA NA 6/15/2017 NA NA NA 5/15/2017 7/3/2017 8/18/2017 8/11/2017 7/19/2017 10/6/2017 HUTCHINSON UTILITIES COMMISSION��` Board Action Form �r�turscti mmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm Agenda Item: Approval of Interconnect Agreement for Heartland Corn Products Presenter: John Webster Agenda Item Type: Time Requested (Minutes): 2 New Business Attachments: Yes BACKGROUND/EXPLANATION OFAGENDA ITEM: Heartland Corn Products has requested that an interconnection be put in place between the Hutchinson Utilities' 12" natural gas pipeline and the 6" pipeline that Heartland Corn Products is currently constructing in Sibley County. This Agreement specifies construction and operational parameters that will exist between both parties at the interconnect station. BOARD ACTION REQUESTED: Approval of Interconnect Agreement for Heartland Corn Products Fiscal Impact: $7,920 Annual Income Included in current budget: Yes Budget Change: No PROJECT SECTION: Total Project Cost: Remaining Cost: OCTOBER 30, 2023 INTERCONNECT AGREEMENT JOHN WEBSTER HUTCHINSON UTILITIES 225 MICHIGAN ST SE HUTCHINSON, MN 55350 INTERCONNECT AGREEMENT THIS INTERCONNECT AGREEMENT ("AGREEMENT") IS MADE AND ENTERED INTO ON THIS l St DAY OF NOVEMBER, 2023, TO BE EFFECTIVE AS OF THE 1 ST DAY OF DECEMBER, 2023, BY AND BETWEEN HEARTLAND CORN PRODUCTS ("HCP") WITH OFFICES LOCATED AT 53331 STATE HIGHWAY 19, PO BOX A, WINTHROP, MINNESOTA, 55396 AND HUTCHINSON UTILITIES COMMISSION ("HUTCHINSON") A MINNESOTA MUNICIPAL. UTILITY LOCATED AT 225 MICHIGAN ST. SE, HUTCHINSON, MINNESOTA, 55350. HCP AND HUTCHINSON SHALL HEREINAFTER SOMETIMES BE REFERRED TO SEPARATELY AS "PARTY" OR JOINTLY AS "PARTIES." WITNESSETH: WHEREAS, HCP WILL OWN CERTAIN PIPELINE FACILITIES WHICH ARE LOCATED WITHIN THE STATE OF MINNESOTA; WHEREAS, HUTCHINSON OWNS AND OPERATES AN EXISTING NATURAL. GAS PIPELINE SYSTEM WHICH COMMENCES FROM A POINT ON THE NORTHERN BORDER PIPELINE NEAR TRIMONT, MINNESOTA TO A POINT OF TERMINUS NEAR HUTCHINSON, MINNESOTA; AND WHEREAS, HCP DESIRES TO ESTABLISH AN INTERCONNECTION BETWEEN ITS PIPELINE FACILITIES AND THE NATURAL. GAS PIPELINE FACILITIES OF HUTCHINSON AND HUTCHINSON IS WILLING TO ESTABLISH SUCH INTERCONNECTION UNDER THE TERMS AND CONDITIONS SET FORTH HEREIN; AND WHEREAS, HCP AND HUTCHINSON DESIRE TO HAVE THE INTERCONNECTION BETWEEN THEIR RESPECTIVE FACILITIES IN SERVICE ON OR BEFORE DECEMBER 15, 2023; NOW, THEREFORE, IN CONSIDERATION OF THE PROMISES AND OF THE MUTUAL. COVENANTS AND AGREEMENTS HEREINAFTER SET FORTH, THE PARTIES, EACH FOR ITSELF AND FOR ITS SUCCESSORS AND PERMITTED ASSIGNS, HEREBY AGREE AS FOLLOWS: 1 . THE POINT OF INTERCONNECTION BETWEEN HUTCHINSON'S NATURAL. HCP INTERCONNECT AGREEMENT OCTOBER 30, 2023 GAS PIPELINE FACILITIES AND HCP'S NATURAL GAS PIPELINE FACILITIES SHALL BE LOCATED ON PROPERTY IN SIBLEY COUNTY, MINNESOTA LEGALLY DESCRIBED AS FOLLOWS: A PIECE OF LAND 125 FT. BY 125 FT., MINIMUM, LYING EAST OF 595TH AVENUE (COUNTY RD 3) IN: TOWNSHIP 1 13 NORTH, RANGE 30 WEST SECTION 32: NWI14 OF THESE 1/4 HEREINAFTER REFERRED TO AS THE "HCP INTERCONNECT STATION". 2. HUTCHINSON WILL OWN, DESIGN, PURCHASE, OPERATE, MAINTAIN AND CONSTRUCT THE FACILITIES LISTED IN SECTIONS 2.1 THROUGH 2.7 (HEREIN REFERRED TO AS THE "HUTCHINSON INTERCONNECT FACILITIES") CAPABLE OF DELIVERING TO HCP 20,000 DTH/DAY AT HUTCHINSON'S LINE PRESSURE. HUTCHINSON LINE PRESSURE AT THE CUSTODY TRANSFER POINT MAY FROM TIME TO TIME BE REDUCED BELOW HUTCHINSON'S MAINLINE PRESSURE BECAUSE OF FRICTIONAL LOSSES CAUSED BY THE HUTCHINSON DELIVERY FACILITIES. 2.1 METER RUN. DUAL CORIOLIS METERS AND ASSOCIATED METER RUN PIPING WILL BE DESIGNED AND INSTALLED IN ACCORDANCE WITH HUTCHINSON ENGINEERING STANDARDS. THE METER RUN WILL BE USED FOR CUSTODY TRANSFER GAS VOLUME MEASUREMENT. 2.2 PIPING. HUTCHINSON WILL PERFORM A "HOT TAP" ON THE 1 2" HUTCHINSON PIPELINE AND INSTALL PIPING FROM THE "HOT TAP" TO THE HUTCHINSON SIDE VALVE. PIPING WILL BE INSTALLED FROM THE HUTCHINSON SIDE VALVE TO THE PIPING ON THE FILTER/METER SKID AND THEN TO THE DOWNSTREAM FLANGE AT THE CUSTODY TRANSFER POINT. HUTCHINSON WILL INSTALL AN INSULATING GASKET KIT IN THE CUSTODY TRANSFER FLANGE FOR ELECTRICAL ISOLATION BETWEEN THE HUTCHINSON AND HCP PIPING SYSTEMS. ALL BURIED PIPING INSTALLED IN THIS AREA SHALL BE INSTALLED AT A MINIMUM DEPTH OF 3 FEET. THE ABOVE GRADE PIPING WILL BE DESIGNED PER HUTCHINSON ENGINEERING STANDARDS. HUTCHINSON PIPING AT THE HUTCHINSON INTERCONNECT FACILITIES WILL BE DESIGNED FOR A MINIMUM DESIGN PRESSURE OF 1,440 PSIG WITH A 0.5 DESIGN FACTOR PER U.S. DEPARTMENT OF TRANSPORTATION (DOT) PIPELINE SAFETY HCP INTERCONNECT AGREEMENT 2 OCTOBER 30, 2023 REGULATIONS, PART 192 FOR NATURAL, GAS. THE HCP INTERCONNECT PIPING SHALL, BE DESIGNED FOR 1,440 PSIG. IF A LOWER DESIGN PRESSURE IS USED FOR DESIGN OF THE INTERCONNECT PIPING, HCP SHALL INSTALL CODE APPROVED SAFETY VALVES TO PROTECT THE HCP SYSTEM FROM ACCIDENTAL OVERPRESSURE BY THE HUTCHISON GAS SUPPLY. 2.3 FILTER/METER SKID. THE METER ASSEMBLY WILL CONTAIN DUAL CORIOLIS METER RUNS AND A SPECIFIC GRAVITY METER. THE FILTER ASSEMBLY WILL CONTAIN THE FILTER, AND A BYPASS LINE AROUND THE FILTER FOR FILTER MAINTENANCE. THE STATION DESIGN WILL NOT INCLUDE AUTOMATIC STATION BLOW DOWN EQUIPMENT. 2.4 VALVES. THE SIDE VALVE WILL BE MANUALLY OPERATED. 2.5 PRESSURE AND TEMPERATURE TRANSMITTERS. ALL TRANSMITTERS SHALL ADHERE TO HUTCHINSON ENGINEERING STANDARDS. 2.6 CABLE AND CONDUIT. ALL NECESSARY CONDUIT AND CABLE FROM THE MEASUREMENT FACILITIES TO THE RTU. CONDUIT SHALL BE GALVANIZED AND RIGID ABOVE GRADE AND PVC COATED RIGID BELOW GROUND. 2.7 REMOTE TERMINAL UNIT (RTU). HUTCHINSON WILL INSTALL A RTU AND A FLOW COMPUTER WITH ELECTRONIC FLOW MEASUREMENT (EFM) CAPABILITIES. 3. HUTCHINSON SHALL CONTROL ALL VOLUMES DELIVERED TO THE HCP INTERCONNECT STATION. 4. HUTCHINSON SHALL RETAIN THE RIGHT TO INSTALL ADDITIONAL FACILITIES IN, ACROSS, UNDER OR THROUGH THE HCP INTERCONNECT STATION. THESE FACILITIES MAY BE UTILIZED TO PROVIDE NATURAL GAS TO PARTIES INDEPENDENT OF HCP. HUTCHINSON'S FACILITIES SHALL NOT INTERFERE WITH THE PROPER OPERATION AND MAINTENANCE OF THE HCP FACILITIES. J. HCP WILL DESIGN, PURCHASE, CONSTRUCT, INSTALL, OWN, MAINTAIN AND OPERATE THE FOLLOWING FACILITIES (HEREIN REFERRED TO AS THE "HCP INTERCONNECT FACILITIES") DOWNSTREAM OF THE CUSTODY TRANSFER POINT: 5.1 PIPING AND RELATED EQUIPMENT. A CONNECTING LINE WITH HCP INTERCONNECT AGREEMENT 3 OCTOBER 30, 2023 OVERPRESSURE PROTECTION AS REQUIRED. C. HUTCHINSON WILL, PROVIDE HCP WITH THE FOLLOWING: THE SIGNAL, FROM THE OUTPUT OF THE CORIOLIS METER. HCP WILL PROVIDE ITS OWN POWER, DATA COMMUNICATION EQUIPMENT AND COMMUNICATION SERVICE. GROUNDING SHALL BE CONNECTED TO THE HUTCHINSON'S GROUNDING GRID. HUTCHINSON WILL CONSTRUCT AND INSTALL A BUILDING THAT WILL BE UTILIZED TO HOUSE HUTCHINSON'S ELECTRONIC EQUIPMENT; RTU, FLOW COMPUTER, ETC... %. THE DATA INFORMATION COLLECTED BY THE RTU WILL BE ACCESSED BY HUTCHINSON'S TELECOMMUNICATION FACILITIES ON A CONTINUOUS BASIS. HUTCHINSON SHALL ALLOW HCP TO ACCESS VOLUMES, TEMPERATURE AND PRESSURE AT THE INTERCONNECT. HUTCHINSON WILL DEDICATE A COMMUNICATION PORT ON HUTCHINSON'S FLOW COMPUTER FOR READ ONLY USE BY HCP. HCP AGREES THAT SUCH INTERCONNECTION WILL NOT CAUSE INTERFERENCE TO HUTCHINSON'S EQUIPMENT. HUTCHINSON MAKES NO WARRANTIES AS TO THE ACCURACY OR COMPLETENESS OF ANY DATA PROVIDED TO HCP PURSUANT TO THIS AGREEMENT. HCP HEREBY ASSUMES FULL RESPONSIBILITY FOR AND RISKS OF BODILY INJURY, DEATH OR PROPERTY DAMAGE ARISING OUT OF HCP'S USE OF DATA PROVIDED BY HUTCHINSON. HCP HEREBY RELEASES, DISCHARGES AND AGREES TO INDEMNIFY, DEFEND AND HOLD HUTCHINSON HARMLESS FROM AND AGAINST ANY AND ALL ACTIONS, CLAIMS, LIABILITIES OR DAMAGES ARISING OUT OF THE USE OF SUCH DATA. 8. THE CUSTODY TRANSFER POINT WILL BE LOCATED AT THE OUTLET FLANGE OF THE FINAL BLOCK VALVE ASSEMBLY. HCP SHALL INSTALL A BLOCK VALVE AT THE INLET OF THE HCP CUSTODY TRANSFER POINT. 9. HCP SHALL BE RESPONSIBLE FOR THE CONSTRUCTION OF THE HCP INTERCONNECT FACILITIES, PROVIDED THAT HUTCHINSON SHALL HAVE THE RIGHT TO APPROVE THE DESIGN OF ALL HCP INTERCONNECT FACILITIES AT THE HCP INTERCONNECT STATION. HUTCHINSON SHALL HAVE THE RIGHT TO REVIEW ALL CONSTRUCTION PROCEDURES AND TO INSPECT ALL CONSTRUCTION WORK IN PROGRESS FOR THE HCP INTERCONNECT FACILITIES LOCATED AT THE HCP INTERCONNECT STATION. IF IT SHOULD APPEAR THAT ANY OF THE CONSTRUCTION WORK ON THE HCP INTERCONNECT FACILITIES ARE ENDANGERING THE FACILITIES OF HUTCHINSON, THEN HUTCHINSON SHALL HAVE THE RIGHT TO STOP WORK UNTIL NECESSARY CORRECTIONS ARE MADE AND APPROVED BY HCP INTERCONNECT AGREEMENT 4 OCTOBER 30, 2023 HUTCHINSON. HUTCHINSON SHALL, HAVE THE RIGHT TO HAVE AT LEAST ONE REPRESENTATIVE PRESENT WHEN ANY WORK IS REQUIRED AT THE HCP INTERCONNECT STATION. HCP SHALL NOTIFY HUTCHINSON AS TO THE SCHEDULE AND THE NATURE OF ANY WORK TO BE PERFORMED NO LESS THAN ONE (1) WEEK IN ADVANCE OF THE WORK. 10. IF ADDITIONAL PROPERTY ADJACENT TO THE HCP INTERCONNECT STATION IS NECESSARY TO CONSTRUCT, OPERATE AND TO OBTAIN ACCESS TO THE HUTCHINSON INTERCONNECT FACILITIES, SUCH ADDITIONAL PROPERTY AND RIGHT-OF-WAY SHALL BE ACQUIRED BY HCP. 11. HCP SHALL OBTAIN ALL OF THE PROPERTY OR RIGHT-OF-WAY NECESSARY FOR THE CONSTRUCTION, OPERATION AND ACCESS TO THE HCP INTERCONNECT STATION AND HCP'S RELATED FACILITIES. HCP SHALL OBTAIN AND COMPLY WITH ALL APPLICABLE REGULATORY AND/OR ENVIRONMENTAL PERMITS AND CLEARANCES NECESSARY FOR THE CONSTRUCTION AND OPERATION OF HCP'S FACILITIES. HCP SHALL BE IN COMPLIANCE WITH ALL FEDERAL, STATE, AND LOCAL LAWS AND REGULATIONS THAT GOVERN THE OPERATION OF THE HCP INTERCONNECT FACILITIES. HCP SHALL BE RESPONSIBLE FOR THE GENERAL MAINTENANCE AND SITE UPKEEP (INCLUDING PAINTING, WEED CONTROL, AND GENERAL BUILDING AND GROUND MAINTENANCE) OF THE HCP INTERCONNECT FACILITIES. 12. HCP SHALL OBTAIN ALL OF THE PROPERTY OR RIGHT-OF-WAY NECESSARY FOR THE CONSTRUCTION, OPERATION AND ACCESS TO THE HUTCHINSON INTERCONNECT FACILITIES. HUTCHINSON SHALL OBTAIN AND BE IN COMPLIANCE WITH ALL APPLICABLE REGULATORY AND/OR ENVIRONMENTAL PERMITS AND CLEARANCES NECESSARY FOR THE CONSTRUCTION AND OPERATION OF ITS FACILITIES. HUTCHINSON SHALL BE IN COMPLIANCE WITH ALL FEDERAL, STATE, AND LOCAL LAWS AND REGULATIONS THAT GOVERN THE OPERATION OF THE HUTCHINSON INTERCONNECT FACILITIES. 13. HUTCHINSON WILL OPERATE AND MAINTAIN THE HUTCHINSON INTERCONNECT FACILITIES. HCP SHALL CAUSE TO BE PAID TO HUTCHINSON A MONTHLY OPERATION AND MAINTENANCE FEE FOR ROUTINE SERVICES OF $660 PER MONTH EFFECTIVE WITH THE IN- SERVICE DATE OF THE HUTCHINSON INTERCONNECT FACILITIES. FOR PURPOSES OF THIS AGREEMENT, ROUTINE SERVICES SHALL INCLUDE THE FOLLOWING: GENERAL MAINTENANCE AND MONTHLY TESTING OF THE HUTCHINSON INTERCONNECT FACILITIES (INCLUDING MONTHLY CALIBRATION OF PRESSURE AND TEMPERATURE TRANSMITTERS, REMOTE TERMINAL UNIT MAINTENANCE, AND ANNUAL INSPECTION AND HCP INTERCONNECT AGREEMENT J OCTOBER 30, 2023 PROVING OF METERS); NOT INCLUDING RESTORATION OF DAMAGE TO RIGHT-OF-WAY, SITES, BUILDINGS, THE HUTCHINSON INTERCONNECT FACILITIES, OR PIPING CAUSED BY FLOODING, FIRE OR FROST HEAVING. 13.1 HCP SHALL ALSO REIMBURSE HUTCHINSON FOR ANY MATERIALS AND SUPPLIES PURCHASED AND CONTRACTED SERVICES (AT THE RATES AS PROVIDED IN SECTIONS 17.2 AND 17.3) IN CONNECTION WITH THE PROVISION OF ROUTINE SERVICES. 14. IN ADDITION TO THE ROUTINE SERVICES SET FORTH ABOVE, HUTCHINSON SHALL PERFORM SPECIAL. SERVICES FROM TIME TO TIME AS HUTCHINSON DETERMINES, IN ITS SOLE DISCRETION, ARE NECESSARY TO MAINTAIN THE HUTCHINSON INTERCONNECT FACILITIES UPON THE PRIOR WRITTEN APPROVAL. OF HCP. "SPECIAL. SERVICES" MAY INCLUDE, WITHOUT LIMITATION, THE FOLLOWING: (I) MAINTENANCE OF ROADS; (II) SPECIAL. CONSTRUCTION; (III) OPERATION OR MAINTENANCE SERVICES; (IV) RECONSTRUCTION AND RECONDITIONING OF EQUIPMENT; AND (V) OVERHAUL., AND/OR REPLACEMENT OF THE HUTCHINSON INTERCONNECT FACILITIES. HUTCHINSON WILL PROCURE AND FURNISH ALL MATERIALS, EQUIPMENT, SUPPLIES, SERVICES, AND LABOR NECESSARY FOR SUCH SPECIAL. SERVICES. IF HCP APPROVES SUCH SPECIAL. SERVICES, EXPENSES WILL BE PAID IN ACCORDANCE WITH SECTION 17 BELOW, AND HUTCHINSON SHALL INVOICE HCP FOR ALL SUCH EXPENSES SO INCURRED AND HCP SHALL PAY THE INVOICED AMOUNTS. 15. IN CASE OF AN EXPLOSION, FIRE, STORM, OR OTHER EMERGENCY THAT MAY THREATEN LIFE OR PROPERTY OR RENDER THE HUTCHINSON INTERCONNECT FACILITIES OR ANY PART THEREOF INCAPABLE OF CONTINUED OPERATION, HUTCHINSON MAY, AT ITS SOLE DISCRETION, PROVIDE SUCH SERVICES (HEREIN CALLED "EMERGENCY SERVICES") AND INCUR SUCH EXPENSES AS IN ITS SOLE OPINION ARE REQUIRED AND CAN BE PROVIDED BY HUTCHINSON TO DEAL. WITH SUCH EMERGENCY, AND SHALL IMMEDIATELY REPORT SUCH EMERGENCY TO HCP. AS SOON AS PRACTICAL. AFTER SUCH EXPENSES HAVE BEEN INCURRED, HUTCHINSON SHALL NOTIFY HCP THAT SUCH EXPENSES HAVE BEEN INCURRED, AND IN ACCORDANCE WITH SECTION 16 BELOW, SHALL INVOICE HCP FOR ALL SUCH EXPENSES SO INCURRED AND HCP SHALL PAY THE INVOICED AMOUNTS. 16. HUTCHINSON SHALL INVOICE HCP ON OR BEFORE THE LAST DAY OF EACH MONTH FOR THE FOLLOWING AMOUNTS: (I) THE FOLLOWING MONTHS' OPERATION AND MAINTENANCE FEE; (II) THE PREVIOUS MONTH'S MATERIALS AND SUPPLIES PURCHASED; (III) THE PREVIOUS HCP INTERCONNECT AGREEMENT 6 OCTOBER 30, 2023 MONTH'S CONTRACTED SERVICES; AND (IV) ANY AMOUNT DUE UNDER SECTIONS 14 AND 15. THE FIRST INVOICE SHALL, INCLUDE A PRO- RATION FOR THE MONTH THAT THE HUTCHINSON INTERCONNECT FACILITIES ARE PLACED IN SERVICE. INCREASES IN EQUIPMENT AND PERSONNEL RATES SHALL BE BASED ON HUTCHINSON'S ACTUAL INCREASE IN SUCH COSTS FROM ITS 2022 COSTS, AND SHALL NOT EXCEED THE RATES CHARGED TO ANY OTHER ENTITY FOR USE OF HUTCHINSON'S PERSONNEL AND EQUIPMENT. HUTCHINSON WILL NOTIFY HCP OF ANY SUCH INCREASE AT LEAST 60 DAYS PRIOR TO THE ANNIVERSARY DATE OF THE IN-SERVICE DATE OF THE HUTCHINSON INTERCONNECT FACILITIES. IN THE EVENT PAYMENT OF ANY INVOICE AMOUNT IS NOT MADE WITHIN 10 DAYS OF RECEIPT OF THE INVOICE, INTEREST SHALL ACCRUE ON ALL UNPAID AMOUNTS AT THE RATE OF 1 0% PER ANNUM. 17. THE CHARGES FOR SPECIAL SERVICES SHALL BE COMPUTED IN ACCORDANCE WITH THE RATES PROVIDED IN EXHIBIT A, ATTACHED HERETO AND INCORPORATED BY THIS REFERENCE. THE CHARGES FOR ANY STANDBY EQUIPMENT, MATERIALS AND SUPPLIES, CONTRACTED SERVICES, RENTALS AND REIMBURSABLE EXPENSES OF EMPLOYEES INCURRED IN CONJUNCTION WITH THE PERFORMANCE OF THE SPECIAL SERVICES SHALL BE IN ADDITION TO THE CHARGES COMPUTED IN ACCORDANCE WITH THE RATES PROVIDED IN EXHIBIT A AND SHALL BE CALCULATED IN ACCORDANCE WITH SECTIONS 1 7. 1 THROUGH 17.6 BELOW. THE CHARGES FOR EMERGENCY SERVICES SHALL BE COMPUTED IN ACCORDANCE WITH THE RATES PROVIDED IN EXHIBIT A. THE CHARGES FOR ANY STANDBY EQUIPMENT, MATERIALS AND SUPPLIES, CONTRACTED SERVICES, RENTALS AND REIMBURSABLE EXPENSES OF EMPLOYEES INCURRED IN CONJUNCTION WITH THE PERFORMANCE OF THE EMERGENCY SERVICES SHALL BE IN ADDITION TO THE CHARGES COMPUTED IN ACCORDANCE WITH THE RATES PROVIDED IN EXHIBIT A AND SHALL BE CALCULATED IN ACCORDANCE WITH SECTIONS 17.1 THROUGH 17.6 BELOW. 17.1 STANDBY EQUIPMENT. THE CHARGES FOR EQUIPMENT MOBILIZED AND STANDING BY FOR THE PROVISIONS OF SPECIAL SERVICES OR EMERGENCY SERVICES SHALL BE COMPUTED USING ONE-HALF (1 /2) THE RATES PROVIDED IN EXHIBIT A. 17.2 MATERIALS AND SUPPLIES. THE CHARGES FOR MATERIALS AND SUPPLIES PURCHASED IN CONJUNCTION WITH THE PROVISION OF ROUTINE SERVICES, SPECIAL SERVICES OR EMERGENCY SERVICES SHALL BE THE ACTUAL COST OF SUCH MATERIALS HCP INTERCONNECT AGREEMENT 7 OCTOBER 30, 2023 AND SUPPLIES PLUS 15% (FIFTEEN PERCENT) OF THE COST FOR BILLING AND HANDLING. 17.3 CONTRACTED SERVICES. THE CHARGES FOR ANY PORTION OF THE ROUTINE SERVICES, SPECIAL SERVICES, OR EMERGENCY SERVICES THAT HUTCHINSON CONTRACTS FOR WITH OTHERS SHALL BE THE ACTUAL COST OF SUCH SERVICES PLUS 15% (FIFTEEN PERCENT) OF THE COST FOR BILLING AND HANDLING. 17.4 RENTALS. THE CHARGES FOR ANY RENTALS USED IN CONJUNCTION WITH THE PROVISION OF SPECIAL SERVICES OR EMERGENCY SERVICES SHALL BE THE ACTUAL COST OF SUCH RENTAL PLUS 15% (FIFTEEN PERCENT) OF THE COST FOR BILLING AND HANDLING. 17.5 REIMBURSABLE EXPENSES OF EMPLOYEES. REASONABLE PERSONAL AND TRAVEL EXPENSES OF EMPLOYEES IN THE PERFORMANCE OF SPECIAL OR EMERGENCY SERVICES WHICH INCLUDE MEALS, LODGING AND THE NECESSARY OUT-OF- POCKET REIMBURSABLE EXPENDITURES INCURRED BY EMPLOYEES IN THE PERFORMANCE OF THEIR DUTIES. 17.6 CALCULATION OF CHARGES USING THE RATES SET FORTH IN EXHIBIT A. ALL RATES SET FORTH IN EXHIBIT A INCLUDE FUEL, LABOR BURDENS AND OVERHEADS. THE NUMBER OF HOURS/MILES USED IN CALCULATING THE CHARGES FOR SPECIAL SERVICES, EMERGENCY SERVICES, AND STANDBY EQUIPMENT WILL BEGIN WHEN EQUIPMENT AND PERSONNEL LEAVE THEIR HOME BASE LOCATION AND CONTINUE UNTIL THEIR RETURN TO THEIR HOME BASE. 18. HCP SHALL REIMBURSE HUTCHINSON FOR ALL OF THE COSTS FOR THE DESIGN, PURCHASE, CONSTRUCTION AND INSTALLATION OF THE HUTCHINSON INTERCONNECT FACILITIES. HCP SHALL ALSO REIMBURSE HUTCHINSON FOR ALL TAXES INCURRED BY HUTCHINSON IN CONNECTION WITH THE CONSTRUCTION, OPERATION AND MAINTENANCE OF THE HUTCHINSON INTERCONNECT FACILITIES. SUBJECT TO 1 8.3, HCP SHALL REIMBURSE HUTCHINSON FOR: (I) THE COSTS AND TAXES AS PROVIDED IN THIS SECTION; (II) THE OPERATION AND MAINTENANCE FEE AND OTHER CHARGES AS PROVIDED IN SECTIONS 13 AND 1 7; AND (III) THE FEES AND EXPENSES FOR SPECIAL SERVICES AND EMERGENCY SERVICES AS PROVIDED IN SECTIONS 14, 15 AND 17, WITHIN 10 DAYS OF THE DATE OF AN INVOICES) REFLECTING THE AMOUNTS TO BE REIMBURSED. 1 8. 1 IF PAYMENT FOR ANY OF THE INVOICED AMOUNTS AS PROVIDED HCP INTERCONNECT AGREEMENT 8 OCTOBER 30, 2023 IN THE PARAGRAPH ABOVE IS NOT MADE BY HCP WITHIN 10 DAYS OF THE DATE OF SUCH INVOICE(S), THE UNPAID BALANCE SHALL, BEAR INTEREST FROM THE 1 OTH DAY AFTER THE BILLING DATE UNTIL PAID AT THE RATE OF 10% PER ANNUM. ALL COMPUTATIONS OF INTEREST SHALL BE MADE ON THE BASIS OF A YEAR OF 360 DAYS FOR THE ACTUAL NUMBER OF DAYS. 18.2 HCP MAY, WITHIN ONE CALENDAR YEAR FROM THE DATE OF ANY INVOICE, TAKE WRITTEN EXCEPTION TO ANY INVOICE, BILLING OR STATEMENT RENDERED BY HUTCHINSON FOR ANY AMOUNT CHARGED. HCP SHALL NEVERTHELESS PAY IN FULL WHEN DUE ALL INVOICES, BILLINGS OR STATEMENTS SUBMITTED BY HUTCHINSON FOR ALL COSTS INCURRED BY HUTCHINSON FOR WHICH HCP IS REQUIRED TO REIMBURSE HUTCHINSON AS PROVIDED IN THIS AGREEMENT. IF, HOWEVER, THE AMOUNT AS TO WHICH SUCH WRITTEN EXCEPTION IS TAKEN OR ANY PART THEREOF IS ULTIMATELY DETERMINED BY THE PARTIES NOT TO HAVE BEEN INCURRED IN ACCORDANCE WITH THIS AGREEMENT OR NOT TO HAVE BEEN A PROPER EXPENSE OR EXPENDITURE INCURRED IN GOOD FAITH WHEN MADE, SUCH AMOUNT OR PORTION THEREOF (AS THE CASE MAY BE) SHALL BE REFUNDED BY HUTCHINSON TO HCP TOGETHER WITH INTEREST THEREON AT THE RATE OF INTEREST PER ANNUM AS DEFINED IN THE PRECEDING PARAGRAPH ABOVE FOR THE PERIOD FROM THE DATE OF PAYMENT BY HCP TO THE DATE OF REFUND BY HUTCHINSON. 18.3 HCP, AFTER 15 DAYS' NOTICE IN WRITING TO HUTCHINSON, SHALL HAVE THE RIGHT DURING NORMAL BUSINESS HOURS TO AUDIT, AT ITS OWN EXPENSE, FOR A PERIOD OF ONE YEAR AFTER THE END OF THE YEAR IN WHICH THE HUTCHINSON INTERCONNECT FACILITIES ARE COMPLETED AND DETERMINED READY FOR SERVICE, AND DURING THE TERM OF THIS AGREEMENT, HUTCHINSON'S BOOKS AND RECORDS RELATING TO THE HUTCHINSON INTERCONNECT FACILITIES. SUCH AUDITS SHALL NOT BE COMMENCED MORE OFTEN THAN ONCE EACH CALENDAR YEAR. HUTCHINSON SHALL RETAIN ALL ACCOUNTS AND RECORDS RELATING TO THE CONSTRUCTION OF THE HUTCHINSON INTERCONNECT FACILITIES FOR SAID ONE-YEAR PERIOD. IN THE EVENT ANY ERRORS ARE DETECTED BY SUCH AUDIT, PAYMENT WILL BE MADE WITHIN TEN (1 O) BUSINESS DAYS BY THE PARTY WHOSE PAYMENT OR OVER COLLECTION HAS BEEN IN ERROR. 19. HUTCHINSON WILL INSPECT AND TEST THE METERING INSTRUMENTATION IN ACCORDANCE WITH HUTCHINSON'S OPERATING HCP INTERCONNECT AGREEMENT 9 OCTOBER 30, 2023 PROCEDURES, WHILE HCP WILL, HAVE THE RIGHT TO WITNESS SUCH INSPECTION AND TESTING. THE METER WILL UNDERGO A FLOW CALIBRATION PRIOR TO DELIVERY. THE METER CALIBRATION REPORTS CAN BE PROVIDED TO HCP. HUTCHINSON SHALL GIVE HCP PRIOR NOTICE OF ALL SCHEDULED INSTRUMENTATION INSPECTIONS AND TESTING. HCP WILL ALSO HAVE THE RIGHT TO AUDIT THE RECORDS OF THE MEASUREMENT EQUIPMENT AT THE METERING FACILITIES. 20. ALL METERING OF GAS QUANTITIES DELIVERED AND SUBSEQUENT BILLING SHALL BE PERFORMED BY HUTCHINSON UTILIZING EFM. FLOWING VOLUMES WILL BE CALCULATED IN ACCORDANCE WITH INDUSTRY STANDARDS. GAS QUALITY VALUES WILL BE PROVIDED AS DETERMINED BY HUTCHINSON AND WILL BE UTILIZED FOR PURPOSES OF CALCULATING FLOW PARAMETERS. 21. HCP SHALL BE RESPONSIBLE FOR ANY GAS LOST DUE TO THE HCP INTERCONNECT FACILITIES. HCP WILL BE RESPONSIBLE FOR ALL LOSS AND DAMAGE TO HUTCHINSON'S PROPERTY WHICH RESULTS FROM THE NEGLIGENT ACTS OR OMISSIONS OF HCP OR ITS AGENTS, EMPLOYEES, REPRESENTATIVE OR CONTRACTORS IN THE DESIGN, CONSTRUCTION, OPERATION OR MAINTENANCE OF HCP INTERCONNECT FACILITIES. 22. HUTCHINSON SHALL BE RESPONSIBLE FOR ANY GAS LOST DUE TO THE FACILITIES IT OWNS. HUTCHINSON WILL BE RESPONSIBLE FOR ALL LOSS AND DAMAGE TO HCP'S PROPERTY WHICH RESULTS FROM THE NEGLIGENT ACTS OR OMISSIONS OF HUTCHINSON OR ITS AGENTS, EMPLOYEES, REPRESENTATIVES OR CONTRACTORS IN THE DESIGN, CONSTRUCTION, OPERATION OR MAINTENANCE OF HUTCHINSON'S FACILITIES. 23. IN THE EVENT OF HUTCHINSON OR HCP BEING RENDERED UNABLE, WHOLLY OR IN PART, BY FORCE MAJEURE TO CARRY OUT ITS OBLIGATIONS UNDER THIS AGREEMENT, EXCEPT PAYMENT OF MONEY, IT IS AGREED UPON BY SUCH PARTY GIVING NOTICE AND REASONABLY FULL PARTICULARS OF SUCH FORCE MAJEURE IN WRITING OR BY FACSIMILE OR TELEPHONE FOLLOWED BY WRITTEN CONFIRMATION TO THE OTHER PARTY WITHIN A REASONABLE TIME AFTER THE OCCURRENCE OF THE CAUSE RELIED ON, THEN THE OBLIGATIONS OF THE PARTY GIVING SUCH NOTICE, SO FAR AS IT IS AFFECTED BY SUCH FORCE MAJEURE, SHALL BE SUSPENDED DURING THE CONTINUANCE OF ANY LIABILITY SO CAUSED, BUT FOR NO LONGER PERIOD, AND SUCH CAUSE SHALL SO FAR AS POSSIBLE BE REMEDIED WITH ALL REASONABLE DISPATCH. THE TERM "FORCE MAJEURE" AS USED HEREIN, SHALL MEAN ANY ACTS HCP INTERCONNECT AGREEMENT 10 OCTOBER 30, 2023 OF GOD, STRIKES, LOCKOUTS OR OTHER LABOR DISPUTES OR INDUSTRIAL. DISTURBANCES, ACTS OF THE PUBLIC ENEMY, WARS, TERRORISM, BLOCKADES, INSURRECTIONS, RIOTS, EPIDEMICS, PANDEMICS, LANDSLIDES, LIGHTNING, EARTHQUAKES, FIRES, HURRICANES, TORNADOES, OTHER STORMS, FLOODS, WASHOUTS OR OTHER ACT OF NATURE, CIVIL. DISTURBANCES, EXPLOSIONS, BREAKAGE, ACCIDENT OR REPAIRS TO MACHINERY OR LINES OF PIPE, TEMPORARY OR PERMANENT FAILURE OF GAS SUPPLY, INABILITY TO OBTAIN OR UNAVOIDABLE DELAY IN OBTAINING PIPE, MATERIALS OR OTHER EQUIPMENT, ACTS OR BINDING ORDERS OF ANY COURT OR OTHER GOVERNMENTAL. AUTHORITY WHETHER OR NOT HAVING JURISDICTION, AND ANY OTHER CAUSE, WHETHER SIMILAR OR DISSIMILAR TO ANY ABOVE ENUMERATED, NOT REASONABLY WITHIN THE CONTROL. OF THE PARTY CLAIMING RELIEF FROM LIABILITY AND WHICH SUCH PARTY WAS OR WOULD HAVE BEEN UNABLE TO PREVENT BY THE EXERCISE OF DUE DILIGENCE. FAILURE TO PREVENT OR SETTLE ANY STRIKE OR STRIKES OR ANY DISPUTE LEADING TO A LOCKOUT SHALL NOT BE CONSIDERED TO BE MATTER WITHIN THE CONTROL. OF THE PARTY CLAIMING RELIEF. 24. HCP SHALL DEFEND, PROTECT, INDEMNIFY, AND HOLD HARMLESS HUTCHINSON, ITS MEMBERS, DIRECTORS, OFFICERS, EMPLOYEES AND AGENTS FROM AND AGAINST ALL LIABILITY, CLAIMS, LIENS, COSTS, EXPENSES, DEMANDS, SUITS AND CAUSES OF ACTION OF EVERY KIND AND CHARACTER ARISING IN FAVOR OF ANY PERSON OR PARTY, INCLUDING THE PARTIES HERETO, AND THEIR EMPLOYEES AND REPRESENTATIVES, ON ACCOUNT OF PERSONAL. INJURIES OR DEATH, OR DAMAGES TO PROPERTY (INCLUDING WITHOUT LIMITATION, CLAIMS FOR POLLUTION AND ENVIRONMENTAL. DAMAGE) IN ANY WAY DIRECTLY RESULTING FROM THE NEGLIGENT ACTS OR OMISSIONS OF HCP, ITS AGENTS, EMPLOYEES, REPRESENTATIVES OR CONTRACTORS. THIS INDEMNITY INCLUDES HCP'S AGREEMENT TO PAY ALL COSTS OF DEFENSE, INCLUDING WITHOUT LIMITATION ATTORNEYS' FEES, INCURRED BY ANY PERSON OR PARTY INDEMNIFIED HEREIN. 25. EXCEPT AS PROVIDED IN SECTION %, HUTCHINSON SHALL DEFEND, PROTECT, INDEMNIFY, AND HOLD HARMLESS HCP, ITS MEMBERS, DIRECTORS, OFFICERS, EMPLOYEES AND AGENTS FROM AND AGAINST ALL LIABILITY, CLAIMS, LIENS, COSTS, EXPENSES, DEMANDS, SUITS AND CAUSES OF ACTION OF EVERY KIND AND CHARACTER ARISING IN FAVOR OF ANY PERSON OR PARTY, INCLUDING THE PARTIES HERETO, AND THEIR EMPLOYEES AND REPRESENTATIVES, ON ACCOUNT OF PERSONAL. INJURIES OR DEATH, OR DAMAGES TO PROPERTY (INCLUDING WITHOUT LIMITATION, CLAIMS FOR POLLUTION AND ENVIRONMENTAL. DAMAGE) IN ANY WAY DIRECTLY RESULTING FROM THE NEGLIGENT ACTS OR OMISSIONS OF HUTCHINSON, ITS AGENTS, HCP INTERCONNECT AGREEMENT OCTOBER 30, 2023 EMPLOYEES, REPRESENTATIVES OR CONTRACTORS. THIS INDEMNITY INCLUDES HUTCHINSON'S AGREEMENT TO PAY ALL COSTS OF DEFENSE, INCLUDING WITHOUT LIMITATION ATTORNEYS' FEES, INCURRED BY ANY PERSON OR PARTY INDEMNIFIED HEREIN. 26. HCP AGREES THAT THE OBLIGATIONS OF INDEMNIFICATION HEREUNDER INCLUDE, BUT WITHOUT LIMITATION, LIENS BY THIRD PERSONS AGAINST HUTCHINSON AND ITS PROPERTY BECAUSE OF LABOR, SERVICES, MATERIALS, OR ANY OTHER SUBJECT OF LIEN, FURNISHED TO HCP, ITS ASSIGNEES OR SUBCONTRACTORS, IN CONNECTION WITH THE WORK PERFORMED BY HCP HEREUNDER. 27. HUTCHINSON AGREES THAT THE OBLIGATIONS OF INDEMNIFICATION HEREUNDER INCLUDE, BUT WITHOUT LIMITATION, LIENS BY THIRD PERSONS AGAINST HCP AND ITS PROPERTY BECAUSE OF LABOR, SERVICES, MATERIALS, OR ANY OTHER SUBJECT OF LIEN, FURNISHED TO HUTCHINSON, ITS ASSIGNEES OR SUBCONTRACTORS, IN CONNECTION WITH THE WORK PERFORMED BY HUTCHINSON HEREUNDER. 28. NEITHER PARTY SHALL BE LIABLE TO THE OTHER PARTY FOR ANY INDIRECT, CONSEQUENTIAL, SPECIAL, EXEMPLARY OR PUNITIVE DAMAGES OF ANY NATURE WHATSOEVER ARISING OUT OF OR RELATED TO ACTIONS TAKEN OR OMISSIONS OF SUCH PARTY IN CONNECTION WITH THIS AGREEMENT. 29. AT ALL TIMES DURING THIS AGREEMENT, EACH PARTY SHALL OBTAIN AND MAINTAIN THE FOLLOWING INSURANCE: (A) HCP SHALL PROVIDE WORKER'S COMPENSATION INSURANCE FOR ALL OF ITS EMPLOYEES IN ACCORDANCE WITH THE STATUTORY REQUIREMENTS OF THE STATE OF MINNESOTA. HCP SHALL ALSO CARRY EMPLOYER'S LIABILITY COVERAGE WITH MINIMUM LIMITS AS FOLLOWS: • $500,000 - BODILY INJURY BY DISEASE PER EMPLOYEE • $500,000 - BODILY INJURY BY DISEASE AGGREGATE • $500,000 - BODILY INJURY BY ACCIDENT (B) HCP SHALL MAINTAIN COMMERCIAL GENERAL LIABILITY INSURANCE IN A MINIMUM AMOUNT OF $1 ,500,000 PER OCCURRENCE; $2,000,000 ANNUAL AGGREGATE. HCP INTERCONNECT AGREEMENT 12 OCTOBER 30, 2023 (C) AUTOMOBIL.E L_IABIL.ITY INSURANCE COVERING OWNED, NON -OWNED, AND HIRED VEHICLES WITH MINIMUM COMBINED SINGLE LIABILITY LIMIT OF $ 1,000,000 PER OCCURRENCE. (D) HCP SHALL MAINTAIN EXCESS LIABILITY INSURANCE COVERAGE IN A MINIMUM AMOUNT OF $2,000,000. HUC'S MAXIMUM LIABILITY IS LIMITED TO A COMBINED SINGLE LIMIT OF $ 1 ,500,000 BY MINNESOTA STATUTE. THE INSURANCE REQUIRED IN (B), (C) AND (D) SHALL REFLECT THAT THE OTHER PARTY IS AN ADDITIONAL INSURED. WITHIN THIRTY (30) DAYS OF EFFECTIVE DATE OF THIS AGREEMENT, EACH PARTY SHALL FURNISH TO THE OTHER PARTY CERTIFICATES AS EVIDENCE SHOWING THAT THE INSURANCE POLICIES TO BE CARRIED IN ACCORDANCE WITH THIS PROVISION HAVE BEEN OBTAINED. ALL INSURANCE TO BE CARRIED PURSUANT TO THE ABOVE SHALL BE ENDORSED TO REQUIRE THE INSURER TO FURNISH 30 DAYS' WRITTEN NOTICE PRIOR TO EFFECTIVE DATE OF ANY MODIFICATION OR CANCELLATION OF SUCH INSURANCE TO THE CERTIFICATE HOLDER. THE PARTIES AGREE THAT THE LIMITS OF INSURANCE WILL BE AT LEAST IN AN AMOUNT EQUAL. TO THE MAXIMUM LIABILITY LIMITS FOR MUNICIPALITIES IN MINNESOTA AS MAY BE ADJUSTED FROM TIME TO TIME. 30. DELIVERY OF NATURAL. GAS VOLUMES TO THE HCP INTERCONNECT FACILITIES WILL BE MADE PURSUANT TO THE NATURAL. GAS FIRM TRANSPORTATION CAPACITY AGREEMENT (THE "TRANSPORTATION AGREEMENT") EXECUTED BETWEEN HUTCHINSON AND HEARTLAND CORN PRODUCTS. SHOULD ANY CONFLICT ARISE BETWEEN ANY PROVISION OF THIS INTERCONNECT AGREEMENT AND THAT OF THE TRANSPORTATION AGREEMENT, THE PROVISIONS OF HUTCHINSON'S TRANSPORTATION AGREEMENTS SHALL CONTROL.. 31. HUTCHINSON SHALL HAVE THE RIGHT TO INSPECT AND AUDIT ALL BOOKS, RECORDS OR ANY OTHER SUPPORTING EVIDENCE OF HCP THAT HUTCHINSON DEEMS NECESSARY IN ORDER TO DETERMINE HCP'S COMPLIANCE WITH THIS AGREEMENT, HUTCHINSON POLICIES AND PROCEDURES, REGULATORY AUTHORITIES OR OTHER LAWS AND REGULATIONS. HUTCHINSON SHALL HAVE THE RIGHT TO RECEIVE COPIES OF ANY SUCH DOCUMENTATION REQUESTED. HUTCHINSON'S RIGHT TO AUDIT SHALL EXTEND THROUGHOUT THE TERM OF THIS AGREEMENT AND FOR A PERIOD OF THREE YEARS THEREAFTER OR LONGER IF REQUIRED BY LAW. HCP INTERCONNECT AGREEMENT 13 OCTOBER 30, 2023 32. THIS AGREEMENT SHALL, NOT BE ASSIGNED OR TRANSFERRED BY EITHER PARTY IN ANY MANNER, BY OPERATION OF LAW OR OTHERWISE, WITHOUT THE WRITTEN CONSENT OF THE OTHER PARTY, WHICH CONSENT SHALL NOT BE UNREASONABLY WITHHELD OR DELAYED; PROVIDED HOWEVER, EITHER PARTY MAY WITHOUT THE NEED FOR CONSENT FROM THE OTHER PARTY (AND WITHOUT RELIEVING THE ASSIGNING PARTY FROM LIABILITY HEREUNDER) TRANSFER OR ASSIGN ITS RIGHTS AND OBLIGATIONS HEREUNDER TO ANY PARENT, AFFILIATE OR SUBSIDIARY OF SUCH PARTY; PROVIDED, HOWEVER, THAT IN EACH SUCH CASE ANY SUCH ASSIGNEE SHALL AGREE IN WRITING TO BE BOUND BY THE TERMS AND CONDITIONS HEREOF. SUBJECT THERETO, THIS AGREEMENT SHALL INURE TO THE BENEFIT OF; AND BE BINDING UPON, THE SUCCESSORS, ASSIGNS, AND LEGAL REPRESENTATIVES OF THE RESPECTIVE PARTIES. 33. THIS AGREEMENT SHALL RUN CONCURRENTLY WITH THE NATURAL GAS FIRM TRANSPORTATION CAPACITY AGREEMENT ENTERED INTO BY HUTCHINSON UTILITIES AND HEARTLAND CORN PRODUCTS ON OR ABOUT THE SAME DATE AS THIS AGREEMENT. IN THE EVENT SAID TRANSPORTATION CAPACITY AGREEMENT IS TERMINATED, THIS AGREEMENT SHALL AUTOMATICALLY BE TERMINATED; IN THE EVENT SAID TRANSPORTATION CAPACITY AGREEMENT IS EXTENDED BEYOND ITS INITIAL TERM, THIS AGREEMENT SHALL BE AUTOMATICALLY EXTENDED FOR AN IDENTICAL EXTENDED TERM. IN THE EVENT THAT THIS AGREEMENT IS TERMINATED BY EITHER PARTY, ANY AND ALL OUTSTANDING EXPANSES SHALL BE PAID WITHIN 10 BUSINESS DAYS TO HUTCHINSON UTILITIES. THIS PROVISION SHALL NOT PREVENT THE PARTIES FROM ENTERING INTO A NEW, EXTENDED, OR AMENDED INTERCONNECT AGREEMENT TO REPLACE THIS AGREEMENT, PROVIDED THAT SUCH NEW, EXTENDED, OR AMENDED AGREEMENT IS IN WRITING, SPECIFICALLY PROVIDES THAT IT IS A MODIFICATION OF THIS AGREEMENT, AND IS EXECUTED BY BOTH PARTIES. 34. THIS AGREEMENT SETS FORTH ALL UNDERSTANDINGS BETWEEN THE PARTIES AS OF THE EFFECTIVE DATE HEREIN. ANY PRIOR CONTRACTS, UNDERSTANDINGS AND REPRESENTATIONS, WHETHER ORAL OR WRITTEN, RELATING TO THE MATTERS ADDRESSED IN THIS AGREEMENT ARE MERGED INTO AND SUPERSEDED BY THIS AGREEMENT. THIS AGREEMENT MAY BE AMENDED ONLY BY A WRITING EXECUTED BY BOTH PARTIES. 35. IT IS UNDERSTOOD BY HCP THAT IT IS ECONOMICALLY FEASIBLE TO ENTER INTO THIS AGREEMENT TO PROVIDE A PIPELINE INTERCONNECT TO HCP ONLY DUE TO THE FACT THAT HUTCHINSON IS AN UNREGULATED MUNICIPAL UTILITY. IF AT ANY TIME ANY OF THE ACTIVITIES COVERED UNDER THIS AGREEMENT BECOME SUBJECT TO HCP INTERCONNECT AGREEMENT 14 OCTOBER 30, 2023 REGULATION BY THE PUBLIC UTILITIES COMMISSION OF THE STATE OF MINNESOTA OR ANY OTHER STATE OR FEDERAL AGENCY WHICH WOULD NOT CURRENTLY CONTROL THE ACTIVITIES OF HUTCHINSON UNDER THIS AGREEMENT, HUTCHINSON SHALL HAVE THE OPTION, AT ITS SOLE DISCRETION, TO PASS ALL FRORATA COSTS INCURRED, DUE TO HUTCHINSON'S REGULATION, TO HCP FOR THE LENGTH OF THIS AGREEMENT. 36. THIS AGREEMENT, AS WELL AS THE TRANSPORTATION CAPACITY AGREEMENT ENTERED INTO BETWEEN HUTCHINSON UTILITIES AND HEARTLAND CORN PRODUCTS SHALL NOT TAKE EFFECT UNTIL HUTCHINSON HAS RECEIVED A SIGNED RESOLUTION BY THE GOVERNING BOARD OF HCP DIRECTING HUTCHINSON TO PROCEED WITH ITS RESPONSIBILITIES UNDER THIS AGREEMENT. HCP INTERCONNECT AGREEMENT 15 OCTOBER 30, 2023 IN WITNESS WHEREOF, HCP AND HUTCHINSON HAVE EXECUTED THIS AGREEMENT IN TWO (2) DUPLICATE ORIGINALS, EFFECTIVE AS OF THE DATE FIRST WRITTEN ABOVE. HUTCHINSON UTILITIES COMMISSION NAME: TITLE:-- COMMISSION PRESIDENT DATE: WITNESS: DATE: WITNESS: DATE: HCP INTERCONNECT AGREEMENT 16 OCTOBER 30, 2023 HEARTLAND CORN PRODUCTS BY: NAME: y 1 iC 1 t TITLE: DATE: WITNESS: DATE: 11-1-ZO2-3 EXHIBIT A PAGE 1 OF 2 HUTCHINSON UTILITIES COMMISSON 2022 EQUIPMENT RATES EQUIPMENT RATE PER HOUR PICKUP $47.00 BACKHOE $80.00 WELDER $52.00 AIR COMPRESSOR $42.00 VACTRON $70.00 *NOTE: ALL EQUIPMENT RENTED OR 3RD PARTY CONTRACTOR HIRED BY HUTCHINSON UTILITIES COMMISSION WILL, BE INVOICED AT ACTUAL, COST PLUS 1 5% FOR BILLING AND HANDLING. HCP INTERCONNECT AGREEMENT 17 OCTOBER 30, 2023 EXHIBIT A PAGE 2OF2 HUTCHINSON UTILITIES COMMISSON 2023 AVERAGE HOURLY RATES CLASSIFICATION REGULAR OVERTIME (1 - 112) OVERTIME (2) OPERATOR $63.00 $94.50 $1 26.00 *NOTE: ALL AVERAGE HOURLY RATES SHALL, BE INCREASED ANNUALLY AS REFLECTED IN HUTCHINSON'S LABOR AGREEMENT. HCP INTERCONNECT AGREEMENT 18 OCTOBER 30, 2023 HUTCHINSON UTILITIES COMMISSION��` Board Action Form �r�turscti mmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm Agenda Item: Approval of Natural Gas Firm Transportation Capacity Agreement with Heartland Corn Presenter: John Webster Agenda Item Type: Time Requested (Minutes): New Business Attachments: Yes BACKGROUND/EXPLANATION OFAGENDA ITEM: Heartland Corn Products (HCP) wishes to reserve natural gas firm transportation capacity on the Hutchinson pipeline in the amount of 12,300 Dth/Day for 365 days per year commencing on December 1, 2023 through November 30, 2043. Hutchison Utilities' receipt point for Heartland Corn Products' natural gas will be NBPL Compressor Station 13, Trimont, MN. Hutchinson Utilities' delivery point for Heartland Corn Products' natural gas will be the HUC/HCP Interconnect Station, Sibley County, MN. BOARD ACTION REQUESTED: Approval of Natural Gas Firm Transportation Capacity Agreement with Heartland Corn Products. Fiscal Impact: $900,360 Annual Revenue Included in current budget: Yes Budget Change: No PROJECT SECTION: Total Project Cost: Remaining Cost: NOVEMBER 1, 2023 NATURAL, CAS FIRM TRANSPORTATION CAPACITY AGREEMENT JOHN WEBSTER HUTCHINSON UTILITIES 225 MICHIGAN ST SE HUTCHINSON, MN 55350 NATURAL GAS FIRM TRANSPORTATION CAPACITY AGREEMENT THIS NATURAL GAS FIRM TRANSPORTATION CAPACITY AGREEMENT ("AGREEMENT") IS MADE AND ENTERED INTO ON THIS 1st DAY OF NOVEMBER, 2023, TO BE EFFECTIVE AS OF THE 1 ST DAY OF DECEMBER, 2023, BY AND BETWEEN HEARTLAND CORN PRODUCTS ("HCP") WITH OFFICES LOCATED AT 53331 STATE HIGHWAY 19, POST OFFICE BOX A, WINTHROP, MINNESOTA, 55396 AND HUTCHINSON UTILITIES COMMISSION ("HUTCHINSON") A MINNESOTA MUNICIPAL. UTILITY LOCATED AT 225 MICHIGAN ST. SE, HUTCHINSON, MINNESOTA, 55350. HCP AND HUTCHINSON SHALL HEREINAFTER SOMETIMES BE REFERRED TO SEPARATELY AS "PARTY" OR JOINTLY AS "PARTIES." WITNESSETH: WHEREAS, HCP DESIRES TO CONTRACT WITH HUTCHINSON FOR THE PROVISION OF LONG-TERM FIRM TRANSPORTATION CAPACITY BY HUTCHINSON TO HCP; WHEREAS, HUTCHINSON HAS THE CAPABILITY TO PROVIDE HCP WITH LONG TERM FIRM TRANSPORTATION CAPACITY; NOW THEREFORE, IN CONSIDERATION OF THE PREMISES AND MUTUAL. COVENANTS AND CONDITIONS CONTAINED IN THIS AGREEMENT, HUTCHINSON AND HCP AGREE AS FOLLOWS: 1 . CHARACTER OF SERVICE. A. FIRM NATURAL. GAS TRANSPORTATION SERVICE - HUTCHINSON SHALL PROVIDE TO HCP FIRM NATURAL. GAS TRANSPORTATION CAPACITY IN THE AMOUNT OF 12,300 DTH PER DAY FOR 365 DAYS PER YEAR, COMMENCING ON THE 1 ST DAY OF DECEMBER, 2023, AND CONTINUING FOR AN INITIAL. PERIOD OF 20 YEARS, THROUGH THE LAST DAY OF NOVEMBER, HEARTLAND CORN PRODUCTS TRANSPORTATION AGREEMENT 1 NOVEMBER 1,2023 2043, UNDER THE RATES, TERMS AND CONDITIONS SET FORTH IN THIS AGREEMENT. THIS SERVICE SHALL, ALWAYS BE AVAILABLE TO HCP UNLESS CURTAILED OR INTERRUPTED PURSUANT TO THE TERMS OF THIS AGREEMENT. THIS SERVICE MAY NOT BE CURTAILED OR INTERRUPTED EXCEPT PURSUANT TO THE TERMS OF THIS AGREEMENT. B. SOLE OBLIGATION TO PROVIDE FIRM TRANSPORTATION CAPACITY - HUTCHINSON'S SOLE OBLIGATION UNDER THIS AGREEMENT IS TO PROVIDE FIRM CAPACITY TO HCP OVER WHICH HCP MAY TRANSPORT NATURAL GAS SUPPLIES PURCHASED FROM AN INDEPENDENT 3RD PARTY SUPPLIER. 2. AVAILABILITY AND CONDITIONS. A. GENERALLY - FIRM TRANSPORTATION SERVICE UNDER THIS AGREEMENT SHALL BE AVAILABLE TO HCP UNDER THE TERMS AND CONDITIONS OF THIS AGREEMENT. SUCH CAPACITY, UP TO THE MAXIMUM DAILY QUANTITY (MDQ) OF 12,300 DTH PER DAY, SHALL ALWAYS BE AVAILABLE TO HCP UNLESS SUCH CAPACITY IS CURTAILED OR INTERRUPTED PURSUANT TO THE TERMS OF THIS AGREEMENT. THIS SERVICE MAY NOT BE CURTAILED OR INTERRUPTED EXCEPT PURSUANT TO THE TERMS OF THIS AGREEMENT. B. NATURAL GAS STANDARDS - GAS SUPPLIES TRANSPORTED BY HCP UNDER THE TERMS OF THIS AGREEMENT SHALL MEET THE STANDARDS REASONABLY SPECIFIED BY HUTCHINSON FROM TIME TO TIME. THE GAS SUPPLY STANDARDS SHALL BE IDENTICAL TO THE STANDARDS IMPOSED ON HUTCHINSON BY ITS INTERSTATE NATURAL GAS PIPELINE TRANSPORTER, NORTHERN BORDER PIPELINE COMPANY. C. METERING - TO BE DETERMINED. D. CONTACT PERSONS 1 . HCP SHALL SUPPLY TO HUTCHINSON THE NAME, BUSINESS ADDRESS, A PRIMARY AND SECONDARY CONTACT PERSON, TELEPHONE NUMBERS FOR THE PRIMARY AND SECONDARY CONTACT PERSON, AND A TWENTY -FOUR-HOUR EMERGENCY TELEPHONE NUMBER. 2. HUTCHINSON SHALL SUPPLY TO HCP THE NAME, BUSINESS ADDRESS, A PRIMARY AND SECONDARY HEARTLAND CORN PRODUCTS TRANSPORTATION AGREEMENT 2 NOVEMBER 1,2023 CONTACT PERSON, TELEPHONE NUMBERS FOR THE PRIMARY AND SECONDARY CONTACT PERSON, AND A TWENTY -FOUR-HOUR EMERGENCY TELEPHONE NUMBER. E. COMPLIANCE WITH AGREEMENT - SERVICE UNDER THIS AGREEMENT SHALL NOT COMMENCE UNTIL BOTH PARTIES HAVE FULLY EXECUTED THIS AGREEMENT AND COMPLIED WITH ALL RELEVANT REQUIREMENTS CONTAINED HEREIN. F. RECEIPT POINT - ATTACHMENT A TO THIS AGREEMENT SETS FORTH THE RECEIPT POINT FOR RECEIPT OF NATURAL GAS FROM HCP TO HUTCHINSON. G. DELIVERY POINTS - ATTACHMENT A TO THIS AGREEMENT SETS FORTH THE DELIVERY POINTS) FOR DELIVERY OF NATURAL GAS FROM HUTCHINSON TO HCP. H. CONTRACT CHANGES - HUTCHINSON HAS THE RIGHT TO MODIFY THIS AGREEMENT DUE TO CHANGES IMPOSED BY 3RD PARTY ENTITIES. 3. TERM. THE INITIAL TERM FOR SERVICE UNDER THIS AGREEMENT IS TWENTY (20) YEARS. HCP MUST NOTIFY HUTCHINSON IN WRITING SIX (6) MONTHS PRIOR TO THE EXPIRATION OF THE TERM IF HCP DESIRES TO CONTINUE SERVICE UNDER THIS AGREEMENT. IF HCP HAS COMPLIED WITH ALL TERMS OF THIS AGREEMENT, AND HAS NO OUTSTANDING ARREARAGES, HCP MAY, UPON WRITTEN NOTICE PROVIDED TO HUTCHINSON SIX (6) MONTHS PRIOR TO THE EXPIRATION OF THE CURRENT TERM, EXTEND THIS AGREEMENT FOR A MUTUALLY AGREED - UPON PERIOD. IF A TERM FOR THE EXTENSION CANNOT BE AGREED UPON BY HCP AND HUTCHINSON, THE PARTIES AGREE TO A MINIMUM TERM OF ONE (1) YEAR. IF SUCH TIMELY NOTICE IS NOT PROVIDED BY HCP, HUTCHINSON IS NOT OBLIGATED TO RENEW SERVICE FOR HCP. REPRESENTATIVES OF HUTCHINSON AND HCP SHALL MEET APPROXIMATELY FOUR (4) MONTHS PRIOR TO THE EXPIRATION DATE OF THE INITIAL TERM OF THIS AGREEMENT TO DISCUSS FUTURE OPERATIONS. 4. RATES. A. RATES FOR SERVICE - THE FOLLOWING CHARGES SHALL APPLY TO THE FIRM TRANSPORTATION CAPACITY TO BE PROVIDED TO HCP BY HUTCHINSON: HEARTLAND CORN PRODUCTS TRANSPORTATION AGREEMENT rJ NOVEMBER 1,2023 J I . RESERVATION CHARGE. RESERVATION CHARGE, PER DTH OF MDQ - $6.1 O/DTH PER MONTH, ($0.20/DTH/DAY) MONTH IS DEFINED AS BEING 30.5 DAYS IN LENGTH. 2. TRANSPORTATION CHARGE. TRANSPORTATION CHARGE, PER DTH, ALL USAGE DURING A MONTH - $0.00 HUTCHINSON UTILITIES SHALL RESERVE THE RIGHT TO REVIEW AND MODIFY ANY AND ALL FEES IN THIS AGREEMENT IN OCTOBER 2028, AND EACH) YEARS THEREAFTER, TO BE EFFECTIVE IN DECEMBER OF THAT YEAR, DUE TO CHANGES IN HUTCHINSON'S TRANSMISSION LINE RATES. B. THIRD PARTY CHARGES. HCP IS RESPONSIBLE FOR ALL CHARGES IMPOSED BY A SUPPLIER, BROKER, MARKETER, OR ANY OTHER THIRD PARTY FOR ANY SERVICE THAT IS PROVIDED TO, OR ON BEHALF OF, HCP BY ANY OF THESE ENTITIES. THESE CHARGES INCLUDE, BUT ARE NOT LIMITED TO, COST OF GAS, RESERVATION CHARGES, ADMINISTRATIVE FEES, BILLING FEES, MINIMUM TAKE CHARGES, AND ANY AND ALL OTHER TYPES OF CHARGES FROM ANY SUCH ENTITY. C. PENALTIES. HCP SHALL PAY ANY FINES, ADDITIONAL. AMOUNTS, OR PENALTIES IMPOSED UNDER THE TERMS OF THIS AGREEMENT. 5. BILLING AND PAYMENT. A. BILLING - RESERVATION INVOICE WILL BE RENDERED TO HCP OR ITS AGENT BY THE FIFTEENTH DAY OF THE MONTH PRECEDING THE MONTH IN WHICH SERVICE IS RENDERED BY HUTCHINSON. REMAINING BILLS WILL BE RENDERED TO HCP OR ITS AGENT BY THE FIFTEENTH DAY OF THE MONTH FOLLOWING THE MONTH IN WHICH SERVICE IS RENDERED BY HUTCHINSON. HEARTLAND CORN PRODUCTS TRANSPORTATION AGREEMENT NOVEMBER 1,2023 B. PAYMENT - PAYMENT IS DUE FROM HCP ON OR BEFORE THE FIFTEENTH DAY FOLLOWING THE DATE THE BILL, IS ISSUED BY HUTCHINSON. A LATE PAYMENT CHARGE OF ONE AND ONE- HALF PERCENT PER MONTH, OR THE LEGALLY AUTHORIZED MAXIMUM INTEREST RATE, WHICHEVER IS LOWER, SHALL BE LEVIED ON ANY UNPAID BALANCES. C. PIPELINE. SUPPLIER. AND THIRD -PARTY CHARGES - ANY CHARGES WHICH HUTCHINSON REASONABLY INCURS ON BEHALF OF HCP FROM ANY PIPELINE, SUPPLIER, OR OTHER THIRD PARTY, SHALL BE PASSED THROUGH TO, AND PAID IN FULL BY, HCP. HUTCHINSON SHALL PROVIDE TO HCP IN WRITING FULL DETAILS CONCERNING ANY SUCH CHARGES. D. GOOD FAITH DISPUTE - IF HCP, IN GOOD FAITH, DISPUTES THE AMOUNT OF ANY INVOICE RENDERED BY HUTCHINSON, OR ANY PART THEREOF, HCP SHALL PAY THE FULL AMOUNT OF THE INVOICE. HUTCHINSON SHALL PROMPTLY PROVIDE IN WRITING TO HCP SUPPORTING DOCUMENTATION ACCEPTABLE IN INDUSTRY PRACTICE TO SUPPORT THE AMOUNT INVOICED, AND HCP SHALL PROMPTLY PROVIDE TO HUTCHINSON IN WRITING THE BASIS FOR ANY DISPUTE, INCLUDING SUPPORTING DOCUMENTATION ACCEPTABLE IN INDUSTRY PRACTICE. IN THE EVENT THE PARTIES ARE UNABLE TO RESOLVE SUCH DISPUTE, EITHER PARTY MAY PURSUE ANY REMEDY AVAILABLE AT LAW OR IN EQUITY TO ENFORCE ITS RIGHTS PURSUANT TO THIS PROVISION. E. RIGHT TO INSPECT - A PARTY SHALL HAVE THE RIGHT, AT ITS OWN EXPENSE, UPON REASONABLE NOTICE AND AT REASONABLE TIMES, TO EXAMINE AND AUDIT AND TO OBTAIN COPIES OF THE RELEVANT PORTION OF THE BOOKS, RECORDS, AND TELEPHONE RECORDINGS OF THE OTHER PARTY ONLY TO THE EXTENT REASONABLY NECESSARY TO VERIFY THE ACCURACY OF ANY STATEMENT, CHARGE, PAYMENT, OR COMPUTATION MADE UNDER THIS AGREEMENT. THIS RIGHT TO EXAMINE, AUDIT, AND TO OBTAIN COPIES SHALL NOT BE AVAILABLE WITH RESPECT TO PROPRIETARY INFORMATION NOT DIRECTLY RELEVANT TO TRANSACTIONS UNDER THIS AGREEMENT. F. FINALITY - ALL INVOICES AND BILLINGS SHALL BE CONCLUSIVELY PRESUMED FINAL AND ACCURATE AND ALL ASSOCIATED CLAIMS FOR UNDER- OR OVERPAYMENTS SHALL BE DEEMED WAIVED UNLESS SUCH INVOICES OR BILLINGS ARE OBJECTED TO, IN WRITING, WITH ADEQUATE EXPLANATION HEARTLAND CORN PRODUCTS TRANSPORTATION AGREEMENT NOVEMBER 1,2023 AND/OR DOCUMENTATION, WITHIN TWO YEARS AFTER THE INITIAL, BILLING DATE FOR THE INVOICE OR BILL, IN DISPUTE. 6. CONDITIONS OF SERVICE. A. FIRM CAPACITY REQUIREMENT - HUTCHINSON HEREBY CERTIFIES THAT IT HAS SUFFICIENT FIRM TRANSPORTATION CAPACITY TO PROVIDE THE AMOUNT OF FIRM TRANSPORTATION SERVICE TO HCP PURSUANT TO THE TERMS OF THIS AGREEMENT FOR THE TERM OF THIS AGREEMENT. B. EFFECT OF FAILURE TO PROVIDE GAS SUPPLIES HCP AGREES TO IMMEDIATELY CURTAIL ITS DELIVERIES AT HUTCHINSON's DELIVERY POINT UNDER THIS AGREEMENT WHEN HCP'S GAS SUPPLIES ARE NOT RECEIVED INTO HUTCHINSON's RECEIPT POINT, UNLESS THE PARTIES AGREE OTHERWISE IN WRITING. 2. HCP SHALL INDEMNIFY, DEFEND AND HOLD HUTCHINSON HARMLESS FOR ANY DAMAGES CAUSED BY HCP'S FAILURE TO DELIVER, OR TO HAVE DELIVERED ON ITS BEHALF, SUPPLIES AT HUTCHINSON's RECEIPT POINT FOR TRANSPORTATION OVER HUTCHINSON's SYSTEM. 7. OPERATIONAL REQUIREMENTS. A. BTU ADJUSTMENT - THE QUANTITY OF GAS RECEIVED BY HUTCHINSON AT HUTCHINSON's RECEIPT POINT, FROM HCP, AND THE QUANTITY OF GAS DELIVERED TO HCP BY HUTCHINSON, AT HUTCHINSON's DELIVERY POINT, SHALL BE THERMALLY BALANCED. BILLED VOLUMES MAY BE ADJUSTED WHEN THE BTU CONTENT OF HCP'S GAS VARIES FROM 1,000 BTUs PER CUBIC FOOT. B. GAS QUALITY - GAS RECEIVED BY HUTCHINSON, AT HUTCHINSON's RECEIPT POINT, ON BEHALF OF HCP, SHALL BE COMMERCIALLY CLEAN AND MERCHANTABLE. SUCH GAS SHALL BE COMPARABLE IN QUALITY TO AND INTERCHANGEABLE WITH GAS PURCHASED BY HUTCHINSON. HUTCHINSON RESERVES THE RIGHT TO REFUSE TO ACCEPT GAS THAT DOES NOT MEET HUTCHINSON's QUALITY SPECIFICATIONS AS SPECIFIED IN THIS AGREEMENT. HEARTLAND CORN PRODUCTS TRANSPORTATION AGREEMENT NOVEMBER 1,2023 6 C. METERING — TO BE DETERMINED. D. RESPONSIBILITY FOR TRANSPORTING GAS SUPPLIES - HUTCHINSON SHALL HAVE THE SOLE RESPONSIBILITY FOR TRANSPORTING NATURAL GAS SUPPLIES TO THE DELIVERY POINT(S). HCP SHALL HAVE THE SOLE RESPONSIBILITY FOR TRANSPORTING NATURAL GAS FROM THE DELIVERY POINT(S). 8. AGENTS. A. DESIGNATION OF AGENTS - HCP MAY DESIGNATE AN AGENT FOR NOMINATING AND SCHEDULING VOLUMES FOR TRANSPORTATION ON HUTCHINSON's SYSTEM. HCP SHALL NOTIFY HUTCHINSON IN WRITING AT LEAST FIFTEEN (1 5) BUSINESS DAYS PRIOR TO THE FIRST DAY OF THE MONTH IN WHICH SUCH SERVICES WILL BE UTILIZED THAT A THIRD PARTY HAS BEEN DESIGNATED AS HCP'S AGENT AND SHALL ACT AS AGENT FOR HCP FOR PURPOSES OF NOMINATIONS, BILLING, AND/OR OTHER FUNCTIONS AS SPECIFIED BY HCP. IF HCP UTILIZES AN AGENT FOR ANY OR ALL OF THESE PURPOSES, HCP AGREES THAT INFORMATION TO BE SUPPLIED BY HUTCHINSON TO HCP MAY BE SUPPLIED ONLY TO THE AGENT AND THAT INFORMATION SUPPLIED BY THE AGENT TO HUTCHINSON SHALL BE RELIED UPON BY HUTCHINSON AS IF PROVIDED BY HCP. HUTCHINSON SHALL BE HELD HARMLESS FOR ANY ERRORS BETWEEN HCP AND SAID AGENT. SUCH DESIGNATION SHALL REMAIN IN EFFECT UNTIL HCP NOTIFIES HUTCHINSON IN WRITING THAT THE PREVIOUSLY DESIGNATED AGENT IS NO LONGER ITS AGENT. B. INFORMATION REQUIRED - HCP SHALL PROVIDE THE FOLLOWING INFORMATION TO HUTCHINSON CONCERNING EACH AGENT USED BY HCP FOR ANY PURPOSE: 1 . NAME AND ADDRESS OF THE AGENT OR AGENTS; 2. PRIMARY AND SECONDARY CONTACT PERSONS FOR THE AGENT OR AGENTS; 3. TELEPHONE AND E-MAIL ADDRESSES FOR PRIMARY AND SECONDARY CONTACT PERSONS FOR THE AGENT OR AGENTS; AND 4. TWENTY -FOUR-HOUR TELEPHONE NUMBER FOR WEEKENDS AND HOLIDAYS FOR THE AGENT OR AGENTS. HEARTLAND CORN PRODUCTS TRANSPORTATION AGREEMENT 7NOVEMBER 1,2023 C. HCP TO REMAIN LIABLE - HCP MAY ELECT TO HAVE ITS BILL, FOR SERVICES UNDER THIS AGREEMENT SENT DIRECTLY TO ITS AGENT. HOWEVER, IF HCP SELECTS THIS OPTION, HCP REMAINS FULLY LIABLE FOR ANY BILL RENDERED BY HUTCHINSON. ALL DEADLINES SET FORTH IN THIS AGREEMENT SHALL CONTINUE TO APPLY, REGARDLESS OF WHETHER HUTCHINSON's BILL IS SENT DIRECTLY TO HCP OR TO HCP'S DESIGNATED AGENT. 9. NOMINATIONS AND SCHEDULING. A. FIRST OF THE MONTH NOMINATIONS - BY 7:00 A.M. CENTRAL CLOCK TIME ("C.C.T."), AT LEAST FIVE (5) BUSINESS DAYS PRIOR TO THE FIRST OF EACH MONTH HCP OR ITS DESIGNATED AGENT SHALL PROVIDE HUTCHINSON A WRITTEN ESTIMATE OF HCP'S DAILY FIRM TRANSPORTATION CAPACITY REQUIREMENTS AND TOTAL MONTHLY REQUIREMENT FOR TRANSPORTATION SERVICE UNDER THIS AGREEMENT. NOMINATIONS SHALL BE LIMITED TO THE METER SPECIFIED IN THIS AGREEMENT. ABSENT AGREEMENT IN WRITING, NOMINATIONS BY HCP OR ITS DESIGNATED AGENT MAY NOT EXCEED HCP'S MAXIMUM DAILY QUANTITY ("MDQ"). B. DAILY NOMINATIONS — HCP OR ITS DESIGNATED AGENT SHALL NOTIFY HUTCHINSON OF ANY REQUESTED CHANGE TO ITS NOMINATION AT HUTCHINSON's RECEIPT POINT, IN WRITING, BY 8:00 A.M. C.C.T AT LEAST ONE (1) BUSINESS DAY PRIOR TO THE DATE OF THE REQUESTED CHANGE. HUTCHINSON SHALL GRANT SUCH REQUESTS IN ITS REASONABLE DISCRETION. ABSENT AGREEMENT IN WRITING, NOMINATIONS BY HCP OR ITS DESIGNATED AGENT MAY NOT EXCEED HCP'S MDQ. C. CHANGES TO NOMINATIONS RESULTING FROM CURTAILMENT OR INTERRUPTION - IF A CURTAILMENT OR INTERRUPTION IS CALLED UNDER THE TERMS AND CONDITIONS OF THIS AGREEMENT, HUTCHINSON SHALL NOTIFY HCP OR ITS DESIGNATED AGENT AS SOON AS REASONABLY POSSIBLE AND AS NECESSARY TO MAINTAIN THE INTEGRITY OF THE SYSTEM, OF THE RECEIPT AND DELIVERY CONDITIONS APPLICABLE TO SERVICE UNDER THIS AGREEMENT. SUCH CONDITIONS SHALL BECOME EFFECTIVE BEGINNING THE NEXT GAS DAY COMMENCING AT 9:00 A.M. C.C.T., OR AT SUCH EARLIER TIME AS IS NECESSARY. UNDER THESE CONDITIONS, HUTCHINSON SHALL HAVE THE RIGHT TO REQUIRE REDUCTIONS IN PREVIOUSLY NOMINATED AMOUNTS UNDER THIS PROVISION, HEARTLAND CORN PRODUCTS TRANSPORTATION AGREEMENT p NOVEMBER 1,2023 V CONSISTENT WITH OTHER PROVISIONS OF THIS AGREEMENT. D. WAIVER - HUTCHINSON MAY, IN ITS SOLE DISCRETION AND ON A NON-DISCRIMINATORY BASIS, WAIVE ANY OF THE NOMINATION REQUIREMENTS SET FORTH IN THIS SECTION IF HUTCHINSON DETERMINES THAT IT CAN ACCOMMODATE SUCH NOMINATIONS. E. LATE NOMINATION — IF HUTCHINSON HAS NOT WAIVED THE NOMINATION REQUIREMENTS, HUTCHINSON MAY STIL.L., IN ITS SOLE DISCRETION AND ON A NON-DISCRIMINATORY BASIS, CONFIRM A LATE NOMINATION. 10. BALANCING. A. DAILY BALANCING REQUIRED - ON A DAILY BASIS, HCP OR ITS DESIGNATED AGENT SHALL BALANCE (1) THE RECEIPT OF HCP'S GAS VOLUMES AT HUTCHINSON's RECEIPT POINT WITH (2) THE DELIVERY OF THERMALLY EQUIVALENT GAS VOLUMES BY HUTCHINSON TO HCP AT THE HUTCHINSON DELIVERY POINT. DIFFERENCES BETWEEN DAILY RECEIPTS FROM AND DAILY DELIVERIES TO HCP SHALL BE ACCUMULATED IN AN IMBALANCE ACCOUNT. HCP OR ITS DESIGNATED AGENT SHALL MONITOR RECEIPTS AND DELIVERIES ON ITS BEHALF AND SHALL ADJUST ITS CONSUMPTION OF GAS SO AS TO ENSURE THAT ITS RECEIPTS AND DELIVERIES ARE IN BALANCE TO THE EXTENT PRACTICABLE. B. POSITIVE AND NEGATIVE DAILY OR MONTHLY IMBALANCES - A POSITIVE DAILY OR MONTHLY IMBALANCE OCCURS WHEN RECEIPTS OF GAS, AT THE HUTCHINSON RECEIPT POINT, ON BEHALF OF HCP EXCEED DELIVERIES OF GAS TO HCP AT THE HUTCHINSON DELIVERY POINT. A NEGATIVE DAILY OR MONTHLY IMBALANCE OCCURS WHEN DELIVERIES OF GAS TO HCP, AT THE HUTCHINSON DELIVERY POINT, EXCEED RECEIPTS OF GAS ON BEHALF OF HCP AT THE HUTCHINSON RECEIPT POINT. C. DAILY BALANCING LIMITATION - HCP SHALL BE PERMITTED TO INCUR A POSITIVE DAILY IMBALANCE OR A NEGATIVE DAILY IMBALANCE OF UP TO %% OF HCP'S DAILY -NOMINATED QUANTITY, AT HUTCHINSON's DELIVERY POINT, EXCEPT DURING CURTAILMENT OR INTERRUPTION UNDER THE TERMS OF THIS AGREEMENT. DURING CURTAILMENT OR INTERRUPTION, HCP SHALL BE REQUIRED TO ABIDE BY THE TERMS OF ANY CURTAILMENT OR INTERRUPTION INSTRUCTIONS ISSUED BY HUTCHINSON. HEARTLAND CORN PRODUCTS TRANSPORTATION AGREEMENT n NOVEMBER 1,2023 D. MONTHLY BALANCING LIMITATION - HCP MAY INCUR A CUMULATIVE MONTHLY POSITIVE OR NEGATIVE IMBALANCE OF UP TO AND INCLUDING 15% OF HCP'S MDQ. NO IMBALANCE CHARGES SHALL APPLY TO CUMULATIVE MONTHLY IMBALANCES UP TO AND INCLUDING THIS 1 S% OF HCP'S MDQ. 1 1. SCHEDULING AND IMBALANCE CHARGES. A. DAILY SCHEDULING CHARGES. DAILY DELIVERIES IN EXCESS OF NOMINATED QUANTITIES - IF DAILY DELIVERY TO HCP, AT HUTCHINSON's DELIVERY POINT, EXCEEDS HCP'S NOMINATION AT HUTCHINSON's RECEIPT POINT, FOR THAT DAY, HCP SHALL PAY THE FOLLOWING CHARGES: FOR DELIVERIES, AT HUTCHINSON's DELIVERY POINT, IN EXCESS OF HCP'S DAILY NOMINATION, AT HUTCHINSON's RECEIPT POINT, PLUS THE DAILY TOLERANCE OF %% OF HCP'S DAILY -NOMINATED QUANTITY, HCP SHALL PAY AN ADDITIONAL CHARGE OF $0.20/DTH. FOR DELIVERIES, AT HUTCHINSON's DELIVERY POINT, IN EXCESS OF HCP'S DAILY MDQ, HCP SHALL PAY AN ADDITIONAL TRANSPORTATION CHARGE OF $ 1 .00/DTH FOR EACH OCCURRENCE IN ADDITION TO ANY OTHER CHARGES THAT MAY APPLY. HUTCHINSON MAY ELECT TO WAIVE THESE CHARGES ON A PARTICULAR DAY OR DAYS. WAIVER OF THESE CHARGES ON ANY DAY OR DAYS SHALL NOT BE CONSTRUED TO BE A WAIVER FOR ANY SUBSEQUENT DAY. 2. DAILY DELIVERIES LESS THAN NOMINATED QUANTITIES - IF DAILY DELIVERY TO HCP, AT HUTCHINSON's DELIVERY POINT, IS LESS THAN HCP'S NOMINATION, AT HUTCHINSON's RECEIPT POINT, FOR THAT DAY, HCP SHALL PAY THE FOLLOWING CHARGES: FOR DELIVERIES AT THE HUTCHINSON DELIVERY POINT THAT ARE LESS THAN HCP'S DAILY NOMINATION, AT HEARTLAND CORN PRODUCTS TRANSPORTATION AGREEMENT 1 0 NOVEMBER 1,2023 HUTCHINSON's RECEIPT POINT, MINUS THE DAILY TOLERANCE OF %% OF HCP'S DAILY -NOMINATED QUANTITY, AT HUTCHINSON's RECEIPT POINT, HCP SHALL PAY AN ADDITIONAL. CHARGE OF $0.20/DTH. HUTCHINSON MAY ELECT TO WAIVE THESE CHARGES ON A PARTICULAR DAY OR DAYS. WAIVER OF THESE CHARGES ON ANY DAY OR DAYS SHALL NOT BE CONSTRUED TO BE A WAIVER FOR ANY SUBSEQUENT DAY. 3. OTHER CHARGES - IF HUTCHINSON INCURS ANY ADDITIONAL., VERIFIABLE CHARGES FROM ITS INTERSTATE PIPELINE SUPPLIER DIRECTLY AS A RESULT OF HCP'S IMBALANCE, THOSE COSTS SHALL BE PAID IN FULL BY HCP. HUTCHINSON SHALL PROVIDE TO HCP FULL DETAILS OF THESE CHARGES IN WRITING ON OR BEFORE THE BILLING DATE. 4. EFFECT ON CHARGES - THESE CHARGES ARE IN ADDITION TO, AND NOT IN PLACE OF, ANY CHARGES IMPOSED ON HCP BY AN ENTITY OTHER THAN HUTCHINSON. J. LIMITATIONS - NOTWITHSTANDING ANY OTHER PROVISION OF THIS AGREEMENT, HCP SHALL NOT BE LIABLE FOR ANY DAILY SCHEDULING CHARGES INCURRED AS A RESULT OF HUTCHINSON'S FAILURE TO NOMINATE, SCHEDULE, AND/OR CONFIRM THE CORRECT AMOUNT OF DAILY FIRM TRANSPORTATION CAPACITY FOR HCP. IN SUCH INSTANCE, HUTCHINSON SHALL PAY SUCH DAILY SCHEDULING CHARGES OR REIMBURSE HCP FOR SUCH DAILY SCHEDULING CHARGES PAID BY HCP. B. SETTLEMENT OF MONTHLY IMBALANCES - HCP SHALL BE REQUIRED TO SETTLE OUTSTANDING IMBALANCES ON A MONTHLY BASIS. ON A MONTHLY BASIS, BY THE 20TH OF THE FOLLOWING MONTH OR THE NEXT BUSINESS DAY FOLLOWING THE 20TH OF THE MONTH IF THE 20TH OF THE MONTH FALLS ON A SATURDAY, SUNDAY, OR LEGAL HOLIDAY, HUTCHINSON SHALL PROVIDE AN IMBALANCE STATEMENT TO HCP DETAILING THE DAILY QUANTITIES RECEIVED ON BEHALF OF HCP, AT THE HUTCHINSON RECEIPT POINT, AND THE DAILY VOLUMES DELIVERED TO HCP AT THE HUTCHINSON DELIVERY POINT. ANY POSITIVE OR NEGATIVE IMBALANCE REMAINING AT THE END OF A GIVEN MONTH SHALL BE RESOLVED AS HEARTLAND CORN PRODUCTS TRANSPORTATION AGREEMENT NOVEMBER 1,2023 FOLLOWS: 1 . POSITIVE IMBALANCE - IN ADDITION TO ANY OTHER APPLICABLE CHARGES, INCLUDING, BUT NOT LIMITED TO, THE CHARGES SET FORTH ABOVE, ANY POSITIVE MONTHLY IMBALANCE GREATER THAN 1 5% OF HCP'S MDQ SHALL BE ASSESSED A POSITIVE MONTHLY IMBALANCE CHARGE OF $0.25/DTH. HUTCHINSON SHALL ALLOW HCP TO ROLL THE OUTSTANDING IMBALANCE QUANTITIES INTO FOLLOWING MONTH. Z. NEGATIVE IMBALANCE - IN ADDITION TO ANY OTHER APPLICABLE CHARGES, INCLUDING, BUT NOT LIMITED TO, THE CHARGES SET FORTH ABOVE, ANY NEGATIVE MONTHLY IMBALANCE GREATER THAN 1 5% OF HCP'S MDQ SHALL BE ASSESSED A NEGATIVE MONTHLY IMBALANCE CHARGE OF $0.25/DTH. HUTCHINSON SHALL ALLOW HCP TO ROLL THE OUTSTANDING IMBALANCE QUANTITIES INTO FOLLOWING MONTH. 3. OTHER CHARGES - IF HUTCHINSON INCURS ANY ADDITIONAL., VERIFIABLE CHARGES FROM ITS INTERSTATE PIPELINE SUPPLIER DIRECTLY AS A RESULT OF HCP'S IMBALANCE, THOSE COSTS SHALL BE PAID IN FULL BY HCP. HUTCHINSON SHALL PROVIDE TO HCP FULL DETAILS OF THESE CHARGES IN WRITING ON OR BEFORE THE BILLING DATE. 4. EFFECT ON CHARGES - THESE CHARGES ARE IN ADDITION TO, AND NOT IN PLACE OF, ANY CHARGES IMPOSED ON HCP BY AN ENTITY OTHER THAN HUTCHINSON. J. LIMITATIONS - NOTWITHSTANDING ANY OTHER PROVISION OF THIS AGREEMENT, HCP SHALL NOT BE LIABLE FOR ANY IMBALANCE CHARGES INCURRED AS A RESULT OF HUTCHINSON'S FAILURE TO NOMINATE, SCHEDULE, AND/OR CONFIRM THE CORRECT AMOUNT OF FIRM TRANSPORTATION CAPACITY. IN SUCH INSTANCE, HUTCHINSON SHALL PAY FOR SUCH IMBALANCE CHARGES OR REIMBURSE HCP FOR SUCH IMBALANCE CHARGES PAID BY HCP. HEARTLAND CORN PRODUCTS TRANSPORTATION AGREEMENT 1 NOVEMBER 1,2023 1 2. PENALTY FOR UNAUTHORIZED RECEIPTS AT THE HCP RECEIPT POINT DURING CURTAILMENT OR INTERRUPTION. PROVIDED THAT HUTCHINSON HAS COMPLIED WITH THE TERMS OF THIS AGREEMENT WITH RESPECT TO SUCH CURTAILMENT OR INTERRUPTION, IF HCP FAILS TO CURTAIL OR INTERRUPT ITS RECEIPTS AT THE HCP RECEIPT POINT WHEN DIRECTED TO DO SO BY HUTCHINSON, HCP SHALL BE BILLED FOR ALL VOLUMES TAKEN IN EXCESS OF THE APPLICABLE LIMITATION AT A RATE EQUAL TO THE DAILY CHICAGO INDEX PLUS $ 1 0.00 PER DTH. IN ADDITION, HUTCHINSON SHALL HAVE THE RIGHT TO DISCONNECT HCP'S SUPPLY OF GAS, AT HUTCHINSON's DELIVERY POINT, IF HCP FAILS TO CURTAIL OR INTERRUPT ITS USE OF GAS WHEN AND AS DIRECTED BY HUTCHINSON. HUTCHINSON MUST RESTORE SUCH SERVICE AS SOON AS PRACTICABLE FOLLOWING ANY SUCH DISCONNECTION. 13. TITLE, LIABILITY, AND INSURANCE. A. TITLE - GAS RECEIVED BY HUTCHINSON ON BEHALF OF HCP FOR DELIVERY TO HCP SHALL REMAIN THE PROPERTY OF HCP. B. LIABILITY - HUTCHINSON SHALL NOT BE LIABLE TO HCP FOR ANY LOSS OF GAS FOR ANY CAUSE OTHER THAN GROSS NEGLIGENCE OR MISCONDUCT BY HUTCHINSON OR ITS EMPLOYEES. HCP'S GAS MAY BE COMMINGLED WITH OTHER GAS SUPPLIES IN HUTCHINSON's SYSTEM. C. INSURANCE - HCP SHALL BE RESPONSIBLE FOR MAINTAINING SUFFICIENT INSURANCE AS NECESSARY TO PROTECT ITS PROPERTY AND OTHER INTERESTS IN THE GAS PRIOR TO, DURING, AND AFTER ITS RECEIPT BY HUTCHINSON. HUTCHINSON SHALL BE RESPONSIBLE FOR MAINTAINING SUFFICIENT INSURANCE AS NECESSARY TO PROTECT ITS PROPERTY AND OTHER INTERESTS IN PROVIDING TRANSPORTATION SERVICE UNDER THIS AGREEMENT TO HCP. 14. CURTAILMENT AND INTERRUPTION. SERVICE UNDER THIS AGREEMENT MAY BE CURTAILED OR INTERRUPTED AS NECESSARY DUE TO PHYSICAL, OPERATIONAL, OR OTHER SIMILAR CONSTRAINTS ON HUTCHINSON's SYSTEM. IF HUTCHINSON IS REQUIRED TO CURTAIL OR INTERRUPT SERVICE DUE TO CAPACITY CONSTRAINTS, FORCE MAJEURE EVENTS, SYSTEM INTEGRITY, OR OTHER CONDITIONS, ANY INTERRUPTIBLE SERVICES PROVIDED TO OTHER ENTITIES BY HUTCHINSON SHALL BE CURTAILED COMPLETELY BEFORE FIRM SERVICES ARE CURTAILED, AND FIRM HEARTLAND CORN PRODUCTS TRANSPORTATION AGREEMENT 13 NOVEMBER 1,2023 TRANSPORTATION SERVICES UNDER THIS AGREEMENT SHALL BE CURTAILED ON A PRO RATA BASIS WITH HUTCHINSON'S OTHER FIRM SALES AND/OR TRANSPORTATION SERVICES. 15. FORCE MAJEURE. A. DEFINITION - EITHER PARTY SHALL BE EXCUSED FROM PERFORMANCE UNDER THIS AGREEMENT BY FORCE MAJEURE ACTS AND EVENTS. "FORCE MAJEURE" SHALL MEAN ACTS AND EVENTS NOT WITHIN THE CONTROL OF THE PARTY CLAIMING FORCE MAJEURE, AND SHALL INCLUDE, BUT NOT BE LIMITED TO, ACTS OF GOD, STRIKES, LOCKOUTS, MATERIAL, EQUIPMENT, OR LABOR SHORTAGES, WARS, RIOTS, INSURRECTIONS, EPIDEMICS, PANDEMICS, LANDSLIDES, EARTHQUAKES, FLOODS, FIRES, STORMS, GOVERNMENT OR COURT ORDERS, CIVIL DISTURBANCES, EXPLOSIONS, BREAKAGE OR ACCIDENT TO MACHINERY OR PIPELINES, FREEZING OF WELLS OR PIPELINES, OR ANY OTHER CAUSE OF WHATEVER KIND, WHETHER SPECIFICALLY ENUMERATED HEREIN OR NOT, THAT IS NOT WITHIN THE CONTROL OF THE PARTY CLAIMING FORCE MAJEURE. B. EFFECT 1 . IF HUTCHINSON IS UNABLE TO PROVIDE SERVICE UNDER THIS AGREEMENT DUE TO A FORCE MAJEURE ACT OR EVENT, HUTCHINSON'S OBLIGATION TO PROVIDE SERVICE UNDER THIS AGREEMENT SHALL BE SUSPENDED FOR THE DURATION OF THE ACT OR EVENT. HUTCHINSON SHALL NOTIFY HCP OF THE FORCE MAJEURE EVENT AS SOON AS REASONABLY POSSIBLE BY ANY MEANS PRACTICABLE, INCLUDING, BUT NOT LIMITED TO, TELEPHONE OR FACSIMILE, AND SHALL CONFIRM THE DETAILS OF THE FORCE MAJEURE ACT OR EVENT IN WRITING WITHIN A REASONABLE AMOUNT OF TIME THEREAFTER. HUTCHINSON SHALL WORK TO REMEDY THE FORCE MAJEURE ACT OR EVENT AS SOON AS REASONABLY POSSIBLE AND SHALL KEEP HCP APPRISED OF THE TIME, DATE, AND CIRCUMSTANCES WHEN SERVICE UNDER THIS AGREEMENT SHALL BE RESTORED. HCP IS NOT REQUIRED TO PAY ANY CHARGES UNDER THIS AGREEMENT DURING THE TERM OF THE FORCE MAJEURE ACT OR EVENT. HEARTLAND CORN PRODUCTS TRANSPORTATION AGREEMENT 1 NOVEMBER 1,2023 2. IF HCP IS UNABLE TO TAKE SERVICE UNDER THIS AGREEMENT DUE TO A FORCE MAJEURE ACT OR EVENT, HUTCHINSON'S OBLIGATION TO PROVIDE SERVICE UNDER THIS AGREEMENT SHALL BE SUSPENDED FOR THE DURATION OF THE ACT OR EVENT. HCP SHALL NOTIFY HUTCHINSON OF THE FORCE MAJEURE EVENT AS SOON AS REASONABLY POSSIBLE BY ANY MEANS PRACTICABLE, INCLUDING, BUT NOT LIMITED TO, TELEPHONE OR FACSIMILE, AND SHALL CONFIRM THE DETAILS OF THE FORCE MAJEURE ACT OR EVENT IN WRITING WITHIN A REASONABLE AMOUNT OF TIME THEREAFTER. HCP SHALL WORK TO REMEDY THE FORCE MAJEURE ACT OR EVENT AS SOON AS REASONABLY POSSIBLE AND SHALL KEEP HUTCHINSON APPRISED OF THE TIME, DATE, AND CIRCUMSTANCES WHEN HCP WILL RESUME SERVICE UNDER THIS AGREEMENT. HUTCHINSON IS NOT REQUIRED TO PROVIDE SERVICE UNDER THIS AGREEMENT DURING THE TERM OF THE FORCE MAJEURE ACT OR EVENT. C. LIMITATIONS ON FORCE MAJEURE - NEITHER PARTY SHALL BE ENTITLED TO THE BENEFIT OF THE PROVISIONS OF FORCE MAJEURE TO THE EXTENT PERFORMANCE IS AFFECTED BY ANY OR ALL OF THE FOLLOWING CIRCUMSTANCES: (I) THE CURTAILMENT OF INTERRUPTIBLE OR SECONDARY FIRM TRANSPORTATION UNLESS PRIMARY, IN -PATH, FIRM TRANSPORTATION IS ALSO CURTAILED; (II) THE PARTY CLAIMING EXCUSE FAILED TO REMEDY THE CONDITION AND TO RESUME THE PERFORMANCE OF SUCH COVENANTS OR OBLIGATIONS WITH REASONABLE DISPATCH; OR (III) ECONOMIC HARDSHIP OF EITHER PARTY. NOTWITHSTANDING ANY OTHER PROVISION OF THIS AGREEMENT, THE PARTY CLAIMING FORCE MAJEURE SHALL NOT BE EXCUSED FROM ITS RESPONSIBILITY FOR IMBALANCE CHARGES. 16. NOTICES. A. ADDRESSES - ALL INVOICES, PAYMENTS AND OTHER COMMUNICATIONS MADE PURSUANT TO THIS AGREEMENT SHALL BE MADE TO THE ADDRESSES SPECIFIED IN WRITING BY THE RESPECTIVE PARTIES FROM TIME TO TIME. B. ACCEPTABLE FORMS - ALL NOTICES REQUIRED HEREUNDER HEARTLAND CORN PRODUCTS TRANSPORTATION AGREEMENT NOVEMBER 1,2023 15 MAY BE SENT BY FACSIMILE OR MUTUALLY ACCEPTABLE ELECTRONIC MEANS, A NATIONALLY RECOGNIZED OVERNIGHT COURIER SERVICE, FIRST CLASS MAIL, OR HAND DELIVERED. C. DELIVERY DATE - IN THE ABSENCE OF PROOF OF THE ACTUAL RECEIPT DATE FOR SUCH NOTICES, THE FOLLOWING PRESUMPTIONS WILL APPLY. NOTICES SENT BY FACSIMILE SHALL BE DEEMED TO HAVE BEEN RECEIVED UPON THE SENDING PARTY'S RECEIPT OF ITS FACSIMILE MACHINE'S CONFIRMATION OF SUCCESSFUL TRANSMISSION. IF THE DAY ON WHICH SUCH FACSIMILE IS RECEIVED IS NOT A BUSINESS DAY OR IS AFTER FIVE P.M. C.C.T., ON A BUSINESS DAY, THEN SUCH FACSIMILE SHALL BE DEEMED TO HAVE BEEN RECEIVED ON THE NEXT FOLLOWING BUSINESS DAY. NOTICE BY OVERNIGHT MAIL OR COURIER SHALL BE DEEMED TO HAVE BEEN RECEIVED ON THE NEXT BUSINESS DAY AFTER IT WAS SENT OR SUCH EARLIER TIME AS IS CONFIRMED BY THE RECEIVING PARTY. NOTICE VIA FIRST CLASS MAIL SHALL BE CONSIDERED DELIVERED FIVE BUSINESS DAYS AFTER MAILING. 17. LAWS, REGULATIONS, AND ORDERS. A. SERVICE UNDER THIS AGREEMENT IS SUBJECT TO ALL PRESENT AND FUTURE VALID LAWS, ORDERS, RULES, REGULATIONS, ETC, ISSUED BY ANY FEDERAL, STATE, OR LOCAL AUTHORITY HAVING JURISDICTION OVER THE MATTERS SET FORTH HEREIN. B. IT IS UNDERSTOOD BY HCP THAT IT IS ECONOMICALLY FEASIBLE TO ENTER INTO THIS AGREEMENT TO PROVIDE FIRM TRANSPORTATION TO HCP ONLY DUE TO THE FACT THAT HUTCHINSON IS AN UNREGULATED MUNICIPAL UTILITY. IF AT ANY TIME ANY OF THE ACTIVITIES COVERED UNDER THIS AGREEMENT BECOME SUBJECT TO REGULATION BY THE PUBLIC UTILITIES COMMISSION OF THE STATE OF MINNESOTA OR ANY OTHER STATE OR FEDERAL AGENCY WHICH WOULD NOT CURRENTLY CONTROL THE ACTIVITIES OF HUTCHINSON UNDER THIS AGREEMENT, HUTCHINSON SHALL HAVE THE OPTION, AT ITS SOLE DISCRETION TO PASS ALL COSTS INCURRED, DUE TO HUTCHINSON'S REGULATION, TO HCP FOR THE LENGTH OF THIS AGREEMENT. 18. MISCELLANEOUS PROVISIONS. A. DECLARATION OF INVALIDITY - IF ANY PROVISION OF THIS HEARTLAND CORN PRODUCTS TRANSPORTATION AGREEMENT NOVEMBER 1,2023 6 AGREEMENT IS DETERMINED TO BE INVALID, VOID, OR UNENFORCEABLE BY ANY COURT OR OTHER ENTITY HAVING JURISDICTION, SUCH DETERMINATION SHALL NOT INVALIDATE, VOID, OR MAKE UNENFORCEABLE ANY OTHER PROVISION, AGREEMENT OR COVENANT OF THIS AGREEMENT; AND THE PARTIES AGREE TO NEGOTIATE IN GOOD FAITH A REPLACEMENT TO SUCH INVALID, VOID OR UNENFORCEABLE PROVISION AND/OR ANY OTHER AMENDMENTS AS MAY BE NECESSARY TO ENSURE THAT THE AGREEMENT AS A WHOLE REFLECTS THE ORIGINAL INTENTIONS OF THE PARTIES. B. NO CONTINUING WAIVER - NO WAIVER OF ANY BREACH OF THIS AGREEMENT SHALL BE HELD TO BE A WAIVER OF ANY OTHER OR SUBSEQUENT BREACH. C. LIMITATION ON AGREEMENT - THE PARTIES EXPRESSLY ACKNOWLEDGE AND AGREE THAT IT IS NEITHER THE PURPOSE OF THIS AGREEMENT NOR THEIR INTENT TO CREATE A PARTNERSHIP, JOINT VENTURE CONTRACT OR COMPANY, ASSOCIATION OR TRUST, FIDUCIARY RELATIONSHIP OR PARTNERSHIP BETWEEN THEM. EXCEPT AS EXPRESSLY PROVIDED HEREIN, NEITHER PARTY SHALL HAVE ANY AUTHORITY TO ACT FOR OR ASSUME ANY OBLIGATIONS, OR RESPONSIBILITIES ON BEHALF OF, THE OTHER PARTY. D. COMPLETE AGREEMENT - THIS AGREEMENT SETS FORTH ALL UNDERSTANDINGS BETWEEN THE PARTIES AS OF THE EFFECTIVE DATE HEREIN. ANY PRIOR CONTRACTS, UNDERSTANDINGS AND REPRESENTATIONS, WHETHER ORAL OR WRITTEN, RELATING TO THE MATTERS ADDRESSED IN THIS AGREEMENT ARE MERGED INTO AND SUPERSEDED BY THIS AGREEMENT. THIS AGREEMENT MAY BE AMENDED ONLY BY A WRITING EXECUTED BY BOTH PARTIES. E. GOVERNING LAW - THE INTERPRETATION AND PERFORMANCE OF THIS AGREEMENT SHALL BE GOVERNED BY THE LAWS OF MINNESOTA, EXCLUDING, HOWEVER, ANY CONFLICT OF LAWS RULE THAT WOULD APPLY THE LAW OF ANOTHER JURISDICTION. F. CONFIDENTIALITY REQUIRED - NEITHER PARTY SHALL DISCLOSE DIRECTLY OR INDIRECTLY WITHOUT THE PRIOR WRITTEN CONSENT OF THE OTHER PARTY THE TERMS OF THIS AGREEMENT TO A THIRD PARTY EXCEPT (I) IN ORDER TO COMPLY WITH ANY APPLICABLE LAW, LEGAL PROCESS, ORDER, REGULATION, OR EXCHANGE RULE; (II) TO THE EXTENT NECESSARY FOR THE ENFORCEMENT OF THIS AGREEMENT; HEARTLAND CORN PRODUCTS TRANSPORTATION AGREEMENT �-y NOVEMBER 1,2023 AND (III) TO THE EXTENT NECESSARY TO IMPLEMENT AND PERFORM THIS AGREEMENT. EACH PARTY SHALL NOTIFY THE OTHER PARTY OF ANY DEMAND OR PROCEEDING OF WHICH IT IS AWARE WHICH MAY RESULT IN DISCLOSURE OF THE TERMS OF THIS AGREEMENT (OTHER THAN AS PERMITTED HEREUNDER) AND USE REASONABLE EFFORTS TO PREVENT OR LIMIT THE DISCLOSURE. THE PARTIES SHALL BE ENTITLED TO ALL REMEDIES AVAILABLE AT LAW OR IN EQUITY TO ENFORCE OR SEEK RELIEF IN CONNECTION WITH THIS CONFIDENTIALITY OBLIGATION. THE TERMS OF THIS AGREEMENT SHALL BE KEPT CONFIDENTIAL BY THE PARTIES HERETO FOR TWO YEARS FROM THE EXPIRATION OR TERMINATION OF THIS AGREEMENT. IN THE EVENT THAT DISCLOSURE IS REQUIRED BY A GOVERNMENTAL BODY OR APPLICABLE LAW, THE PARTY SUBJECT TO SUCH REQUIREMENT MAY DISCLOSE THE MATERIAL TERMS OF THIS AGREEMENT TO THE EXTENT SO REQUIRED, BUT SHALL PROMPTLY NOTIFY THE OTHER PARTY, PRIOR TO DISCLOSURE, AND SHALL COOPERATE (CONSISTENT WITH THE DISCLOSING PARTY'S LEGAL OBLIGATIONS) WITH THE OTHER PARTY'S EFFORTS TO OBTAIN PROTECTIVE ORDERS OR SIMILAR RESTRAINTS WITH RESPECT TO SUCH DISCLOSURE AT THE EXPENSE OF THE OTHER PARTY. G. AUTHORITY TO ENTER AGREEMENT - EACH PARTY TO THIS AGREEMENT REPRESENTS AND WARRANTS THAT IT HAS FULL AND COMPLETE AUTHORITY TO ENTER INTO AND PERFORM THIS AGREEMENT. EACH PERSON WHO EXECUTES THIS AGREEMENT ON BEHALF OF EITHER PARTY REPRESENTS AND WARRANTS THAT IT HAS FULL AND COMPLETE AUTHORITY TO DO SO AND THAT SUCH PARTY WILL BE BOUND THEREBY. H. NO THIRD -PARTY BENEFICIARY - THERE IS NO THIRD -PARTY BENEFICIARY TO THIS AGREEMENT. HEARTLAND CORN PRODUCTS TRANSPORTATION AGREEMENT p NOVEMBER 1,2023 V WHEREFORE, THE PARTIES HAVE EXECUTED THIS AGREEMENT THROUGH THEIR DULY AUTHORIZED REPRESENTATIVES EFFECTIVE AS OF THE DATE SPECIFIED ABOVE HUTCHINSON UTILITIES COMMISSION BY: NAME: TITLE: DATE WITNESS.' DATE'. WITNESS' DATE.* HEARTLAND CORN PRODUCTS BY: NAME: TITLE: DATE.' WITNESS: DATE: HEARTLAND CORN PRODUCTS TRANSPORTATION AGREEMENT NOVEMBER 1, 2023 19 NATURAL GAS FIRM TRANSPORTATION CAPACITY AGREEMENT BETWEEN HUTCHINSON UTILITIES COMMISSION AND HEARTLAND CORN PRODUCTS ATTACHMENT A RECEIPT POINT HUTCHINSON UTILITIES COMMISSION MAY RECEIVE NATURAL, GAS FROM HEARTLAND CORN PRODUCTS AT THE FOLLOWING RECEIPT POINT: STATION NAME COUNTY CITY STATE NBPL COMPRESSOR STATION 13 MARTIN TRIMONT MINNESOTA TRIMONT DELIVERY POINT HUTCHINSON UTILITIES COMMISSION MAY DELIVER NATURAL GAS TO HEARTLAND CORN PRODUCTS AT THE FOLLOWING DELIVERY POINT: STATION NAME COUNTY CITY STATE HUC/HCP INTERCONNECT SIBLEY GIBBON MINNESOTA STATION 20 HUTCHINSON UTILITIES COMMISSION��` Board Action Form �r�turscti mmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm Agenda Item: Approval of Operating Agreement Heartland Corn Products Natural Gas Transmission I Presenter: John Webster Agenda Item Type: Time Requested (Minutes): 2 New Business Attachments: Yes BACKGROUND/EXPLANATION OFAGENDA ITEM: Heartland Corn Products(HCP) has requested that the Natural Gas Division of Hutchinson Utilities Commission perform all of the operation and maintenance, as required by DOT, on their 6" high pressure natural gas pipeline currently being installed. The cost for developing all HCP specific manuals and programs required for the operation and maintenance of HCP's pipeline as well as the cost of implementing a Public Awareness Program, an Emergency Official Liaison Program, Integrity Management Program, etc.. will be borne by HCP. BOARD ACTION REQUESTED: Approval of Operating Agreement Heartland Corn Products Natural Gas Transmission Facilities Fiscal Impact: $48,000 Annual Income Included in current budget: No Budget Change: No PROJECT SECTION: Total Project Cost: 0.00 Remaining Cost: 0.00 NOVEMBER 7, 2023 OPERATING AGREEMENT HEARTLAND CORN PRODUCTS NATURAL CAS TRANSMISSION FACILITIES THIS DOCUMENT SETS FORTH THE TERMS AND CONDITIONS OF SERVICE FOR OPERATION AND MAINTENANCE OF THE HEARTLAND CORN PRODUCTS' NATURAL, GAS TRANSMISSION FACILITIES PROVIDED BY HUTCHINSON UTILITIES JOHN WEBSTER HUTCHINSON UTILITIES 225 MICHIGAN ST SE HUTCHINSON, MN 55350 OPERATING AGREEMENT THIS TRANSMISSION FACILITIES OPERATING AGREEMENT ("AGREEMENT") IS MADE AND ENTERED INTO ON THIS 7th DAY OF NOVEMBER, 2023, BY AND BETWEEN HEARTLAND CORN PRODUCTS ("OWNER") WITH OFFICES LOCATED AT 53331 STATE HIGHWAY 19, P.O. BOX A, WINTHROP, MINNESOTA, 55396 AND HUTCHINSON UTILITIES COMMISSION ("OPERATOR") A MINNESOTA MUNICIPAL. UTILITY LOCATED AT 225 MICHIGAN ST. SE, HUTCHINSON, MINNESOTA, 55350. OWNER AND OPERATOR SHALL HEREINAFTER SOMETIMES BE REFERRED TO SEPARATELY AS "PARTY" OR JOINTLY AS "PARTIES." WITNESSETH: WHEREAS, OWNER HAS CONSTRUCTED OR IS CONSTRUCTING THE FACILITIES (AS HEREINAFTER DEFINED); WHEREAS, OWNER IS CONTRACTING WITH OPERATOR TO PROVIDE LONG- TERM FIRM TRANSPORTATION CAPACITY TO OWNER OVER OPERATOR'S NATURAL. GAS PIPELINE FACILITIES TO THE POINT OF INTERCONNECTION BETWEEN THE FACILITIES OF OWNER AND THE FACILITIES OF OPERATOR, PURSUANT TO THAT CERTAIN NATURAL. GAS FIRM TRANSPORTATION CAPACITY AGREEMENT OF EVEN DATE HEREWITH; AND WHEREAS, OWNER DESIRES TO RETAIN OPERATOR TO OPERATE THE FACILITIES ON BEHALF OF OWNER, AND OPERATOR IS WILLING TO PROVIDE SAID SERVICES ON THE TERMS AND CONDITIONS SET FORTH HEREIN. NOW, THEREFORE, IN CONSIDERATION OF THE PREMISES, MUTUAL. COVENANTS, CONDITIONS AND AGREEMENTS HEREIN CONTAINED, THE PARTIES HERETO, INTENDING TO BE LEGALLY BOUND, HEREBY AGREE AS FOLLOWS: ARTICLE I: DEFINED TERMS SECTION 1.1 DEFINITIONS. THE DEFINED TERMS USED IN THIS AGREEMENT SHALL, UNLESS THE CONTEXT OPERATING AGR EEMENT 1 NATURAL GAS TRANS FACILITIES HEARTLAND CORN PRODUCTS JOHN WEBSTER OTHERWISE REQUIRES, HAVE THE MEANINGS SPECIFIED IN THIS ARTICLE I. "AGRE"E"MEw" MEANS THIS NATURAL. GAS TRANSMISSION FACILITIES OPERATING AGREEMENT, AS THE SAME MAY FROM TIME TO TIME BE AMENDED WITH WRITTEN CONSENT OF OWNER AND OPERATOR. "BUSINESS DAY' MEANS ANY DAY EXCEPT SATURDAY, SUNDAY OR FEDERAL. RESERVE BANK HOLIDAYS. "COMMENCEMENT DATE" SHALL MEAN "NINE A.M. CENTRAL. CLOCK TIME" ON DECEMBER 1, 2023. "EMERGENCY' MEANS ANY SUSPECTED OR ACTUAL. ABNORMAL. CONDITION THAT HAS ALREADY CAUSED, OR REPRESENTS AN IMMINENT THREAT TO CAUSE, FACILITY FAILURE OR DAMAGE, DANGER TO OR LOSS OF LIFE, POLLUTION, OR ANY HAZARDOUS CONDITION. "FACILITY' OR "FACILITIES" MEANS THE NATURAL. GAS TRANSMISSION SYSTEM BELONGING TO OWNER, INCLUDING ALL APPARATUSES THERETO, COMMENCING AT THE HUC/HCP INTERCONNECT, AS DEFINED IN THE INTERCONNECT AND NATURAL. GAS FIRM TRANSPORTATION CAPACITY AGREEMENT, AND EXTENDING TO THE END OF THE OWNER'S TRANSMISSION SYSTEM, AS FURTHER DESCRIBED AND DEPICTED IN EXHIBIT B. " GAS" SHALL MEAN NATURAL. GAS, RENEWABLE, MANUFACTURED, ARTIFICIAL. OR SYNTHETIC GAS, OR ANY MIXTURE OR COMBINATION THEREOF. "GAS DAY" SHALL MEAN A PERIOD BEGINNING AND ENDING AT 9:00 A.M., CENTRAL. CLOCK TIME. THE REFERENCE DATE FOR ANY DAY SHALL BE THE DATE OF THE BEGINNING OF SUCH DAY. "GOVERNMENTAL AUTHORirY' MEANS (I) THE UNITED STATES OF AMERICA, (II) ANY STATE, COUNTY, PARISH, MUNICIPALITY OR OTHER GOVERNMENTAL. SUBDIVISION WITHIN THE UNITED STATES OF AMERICA, AND (III) ANY COURT OR TRIBUNAL. OR ANY GOVERNMENTAL. DEPARTMENT, COMMISSION, BOARD, BUREAU, AGENCY OR OTHER INSTRUMENTALITY OF THE UNITED STATES OF OPERATING AGR EEMENT 2 NATURAL GAS TRANS FACILITIES HEARTLAND CORN PRODUCTS JOHN WEBSTER AMERICA OR OF ANY STATE, COUNTY, PARISH, MUNICIPALITY OR OTHER GOVERNMENTAL SUBDIVISION WITH THE UNITED STATES OF AMERICA. "LAW' MEANS ANY APPLICABLE STATUTE, LAW, ORDINANCE, REGULATION, RULE, RULING, ORDER, DECREE, WRIT, INJUNCTION, JUDGMENT OR OTHER OFFICIAL ACT OF OR BY ANY GOVERNMENTAL AUTHORITY. "MONTHLY OPERATING FEE" MEANS THE FEE FOR OPERATOR PERFORMING OPERATIONS OF THE FACILITIES AND ROUTINE WORK. "OPERATIONS" MEANS ALL WORK OR SERVICES REQUIRED TO BE FURNISHED OR PERFORMED BY OPERATOR PURSUANT TO THIS AGREEMENT. "OPERATOR" MEANS HUTCHINSON UTILITIES COMMISSION AND ITS PERMITTED SUCCESSORS AND ASSIGNS HEREUNDER. "OWNER" MEANS HEARTLAND CORN PRODUCTS AND ITS PERMITTED SUCCESSORS AND ASSIGNS HEREUNDER. "PERMITS" MEANS ALL LICENSES, PERMITS, CERTIFICATES, ORDERS, APPROVALS AND AUTHORIZATIONS OF ANY GOVERNMENTAL AUTHORITY NECESSARY FOR OR OBTAINED IN CONNECTION WITH OPERATION OF THE FACILITIES OR PERFORMANCE OF THE OPERATIONS. "PERSON" MEANS ANY INDIVIDUAL, FIRM, CORPORATION, PARTNERSHIP, JOINT VENTURE, ASSOCIATION, TRUST OR OTHER ENTITY OR ORGANIZATION, INCLUDING A GOVERNMENT OR POLITICAL SUBDIVISION OR AN AGENCY OR INSTRUMENTALITY THEREOF. "ROUTINE WORD' INCLUDES DAY-TO-DAY OPERATIONS, MAINTENANCE, TESTING AND REPAIR INCLUDED IN THE MONTHLY OPERATING FEE AND MORE PARTICULARLY DEFINED IN EXHIBIT C OF THIS AGREEMENT. "NON -ROUTINE WORD' INCLUDES WORK NOT INCLUDED IN THE MONTHLY OPERATING FEE, BUT SHALL BE PROVIDED ON AN AS -NEEDED BASIS. SAID SERVICES AND FEES ARE SET FORTH IN EXHIBIT D. OPERATING AGR EEMENT NATURAL GAS TRANS FACILITIES HEARTLAND CORN PRODUCTS JOHN WEBSTER " YEAR MEANS A PERIOD OF 12 CONSECUTIVE MONTHS COMMENCING WITH JANUARY 1 AND ENDING ON THE FOL.L.OWING DECEMBER 3 1. SECTION 1.2 REFERENCES, GENDER, NUMBER. UNLESS THE CONTEXT REQUIRES OTHERWISE, ALL REFERENCES IN THIS AGREEMENT TO AN "ARTICLE," "SECTION" OR "SUBSECTION" SHALL BE TO AN ARTICLE, SECTION OR SUBSECTION OF THIS AGREEMENT, AND THE WORDS "THIS AGREEMENT," "HEREOF," "HEREUNDER," "HEREIN," "HEREBY," OR WORDS OF SIMILAR IMPORT SHALL REFER TO THIS AGREEMENT AS A WHOLE AND NOT TO A PARTICULAR ARTICLE, SECTION, SUBSECTION, CLAUSE OR OTHER SUBDIVISION HEREOF. WHENEVER THE CONTEXT REQUIRES, THE WORDS USED HEREIN SHALL INCLUDE THE MASCULINE, FEMININE AND NEUTER GENDER, AND THE SINGULAR AND THE PLURAL. ARTICLE II: RESPONSIBILITIES OF OPERATOR SECTION 2.1 GENERAL. RESPONSIBILITIES. (A) GENERAL.. OPERATOR IS HEREBY APPOINTED TO PERFORM THE OPERATIONS ACCORDING TO PRUDENT PRACTICES GENERALLY FOLLOWED BY THE GAS PIPELINE INDUSTRY UNDER SIMILAR CIRCUMSTANCES. TO THE EXTENT NECESSARY TO CARRY OUT ITS DUTIES HEREUNDER, OPERATOR CERTIFIES THAT IT IS QUALIFIED UNDER THE OPERATOR QUALIFICATION PROGRAM AS REQUIRED BY THE FEDERAL. DEPARTMENT OF TRANSPORTATION AND THE MINNESOTA OFFICE OF PIPELINE SAFETY. OPERATOR SHALL PROVIDE OWNER WITH THE SERVICES REQUIRED FOR THE OPERATION, TESTING, MAINTENANCE AND REPAIR OF THE FACILITIES AS MORE FULLY DESCRIBED BELOW AND ON EXHIBIT C AND D. OWNER AND OPERATOR SHALL HAVE UNRESTRICTED ACCESS TO THE FACILITIES. IT IS EXPRESSLY UNDERSTOOD AND AGREED THAT IN THE PERFORMANCE OF ITS OBLIGATIONS UNDER THIS AGREEMENT, OPERATOR IS AND SHALL AT ALL TIMES BE AN INDEPENDENT CONTRACTOR. OPERATOR, AS AN INDEPENDENT CONTRACTOR, SHALL BE OPERATING AGR EEMENT NATURAL GAS TRANS FACILITIES 4 HEARTLAND CORN PRODUCTS JOHN WEBSTER SOLELY RESPONSIBLE FOR ITS EMPLOYEES AND EQUIPMENT. OWNER ACKNOWLEDGES THAT THE OPERATIONS ARE DEPENDENT UPON OWNER PROVIDING OPERATOR ACCESS TO THE FACILITIES. (B) ROUTINE WORK. ON AND AFTER THE COMMENCEMENT DATE, OPERATOR SHALL PERFORM OR CAUSE TO BE PERFORMED ALL ROUTINE WORK FOR THE FACILITIES, INCLUDING BUT NOT LIMITED TO, OPERATION, REPAIR, IMPROVEMENT, MAINTENANCE, ALTERATION, INSPECTION, TESTING, PROTECTION AND OTHER OPERATIONS AND ACTIVITIES WITH RESPECT TO THE FACILITIES AS ARE REASONABLY NECESSARY TO MAINTAIN THE FACILITIES IN A "FIRST-CLASS OPERATING CONDITION" IN ACCORDANCE WITH THE FEDERAL SAFETY AND MAINTENANCE STANDARDS PROMULGATED UNDER 49 CFR PART 192 AND THE REGULATIONS OF THE MINNESOTA OFFICE OF PIPELINE SAFETY. THE ROUTINE WORK IS DESCRIBED IN GREATER DETAIL IN EXHIBIT C. (C) NON -ROUTINE WORK. OPERATOR WILL PERFORM ALL NON -ROUTINE WORK AS TO THE FACILITIES, IN ACCORDANCE WITH THIS SECTION. OPERATOR WILL RECOMMEND NON - ROUTINE WORK AS DESCRIBED IN EXHIBIT D ATTACHED HERETO WHEN, IN OPERATOR'S OPINION, THE CONDITION OF THE FACILITIES MIGHT IMPAIR RELIABILITY, OR WHEN IT IS OTHERWISE DEEMED NECESSARY OR PREFERABLE, CONSISTENT WITH PRUDENT PRACTICES GENERALLY FOLLOWED BY THE GAS PIPELINE INDUSTRY UNDER SIMILAR CIRCUMSTANCES ("RECOMMENDED NON -ROUTINE WORK"). OPERATOR WILL NOTIFY AND PROVIDE RECOMMENDATIONS TO OWNER AS SOON AS PRACTICAL AFTER IDENTIFYING THE NEED FOR RECOMMENDED NON -ROUTINE WORK. OWNER WILL REVIEW AND ACT ON OPERATOR'S RECOMMENDED NON -ROUTINE WORK AS SOON AS PRACTICAL AFTER NOTIFICATION. OWNER WILL NOT UNREASONABLY WITHHOLD OR DELAY ITS APPROVAL OF ANY REASONABLE OPERATOR RECOMMENDED NON -ROUTINE WORK CONCERNING A CONDITION AFFECTING THE FACILITIES THAT MIGHT IMPAIR THE RELIABILITY OPERATING AGR EEMENT NATURAL GAS TRANS FACILITIES HEARTLAND CORN PRODUCTS JOHN WEBSTER OR SAFETY OF THE FACILITIES. IN THE EVENT THAT OWNER FAILS TO APPROVE OPERATOR RECOMMENDED NON -ROUTINE WORK, THEN OPERATOR SHALL BEAR NO RESPONSIBILITY OR LIABILITY WHATSOEVER FOR ANY CLAIMS, LOSSES, COSTS, EXPENSES, DEMANDS, FINES, PERSONAL INJURY, OR PROPERTY DAMAGE ARISING FROM OR RELATED TO THE FACILITIES CONNECTED WITH SUCH RECOMMENDED NON -ROUTINE WORK. (D) EMERGENCY WORK. OPERATOR WILL PERFORM ALL EMERGENCY MAINTENANCE AND REPAIR OF THE FACILITIES CONSISTENT WITH PRUDENT PRACTICES GENERALLY FOLLOWED BY THE GAS PIPELINE INDUSTRY UNDER SIMILAR CIRCUMSTANCES. OPERATOR WILL NOTIFY OWNER OF ANY EMERGENCY CONDITION AFFECTING THE FACILITIES PROMPTLY AFTER OPERATOR LEARNS OF SUCH CONDITION AND WILL CONSULT WITH OWNER, AS FAR AS PRACTICAL, CONCERNING THE ACTIONS THAT ARE NECESSARY. IF OWNER FAILS TO RESPOND OR IF OPERATOR IS OTHERWISE UNABLE TO CONSULT WITH OWNER, THE OPERATOR SHALL TAKE THOSE ACTIONS THAT OPERATOR BELIEVES ARE NECESSARY CONSISTENT WITH PRUDENT UTILITY PRACTICES AND WILL CONTACT OWNER AS SOON AS POSSIBLE AFTER THE FACT. (E) SCHEDULING. TO THE EXTENT REASONABLY POSSIBLE, THE PERFORMANCE OF REPAIR OR MAINTENANCE THAT AFFECTS THE OPERATIONS OF THE FACILITIES SHALL BE SCHEDULED TO BE PERFORMED ONLY AT TIMES ACCEPTABLE TO OWNER. EXCEPT FOR EMERGENCY OR UNPLANNED WORK, IN THE EVENT IT IS NECESSARY TO EITHER INTERRUPT OR CURTAIL THE GAS SUPPLY OR TO OTHERWISE IMPOSE ABNORMAL OPERATING CONDITIONS ON THE FACILITIES, OWNER SHALL BE NOTIFIED IN ADVANCE AND AN AGREEMENT MUST BE REACHED AS TO THE TIME SCHEDULED FOR SUCH WORK. OPERATING AGR EEMENT NATURAL GAS TRANS FACILITIES HEARTLAND CORN PRODUCTS JOHN WEBSTER (F) WORK BY OTHERS. IF ANY PART OF THE OPERATIONS IS DEPENDENT UPON THE QUALITY AND COMPLETENESS OF WORK PERFORMED UNDER ANOTHER CONTRACT UNRELATED TO OPERATOR, OPERATOR SHALL NOT BE RESPONSIBLE IF THE WORK PERFORMED UNDER THE OTHER CONTRACT IS DEFECTIVE OR UNSUITABLE AND SUCH CONDITION AFFECTS THE TIMING, SCHEDULING OR QUALITY OF THE OPERATIONS PERFORMED BY OPERATOR HEREUNDER. SECTION 2.2 PERSONNEL. OPERATOR MAY EMPLOY OR, CONTRACT FOR, THE SERVICES OF AND BE RESPONSIBLE FOR THE SUPERVISION OF PERSONS (INCLUDING CONSULTANTS AND PROFESSIONAL, SERVICE OR OTHER ORGANIZATIONS) REASONABLY REQUIRED BY OPERATOR TO PERFORM THE OPERATIONS IN AN EFFICIENT AND PRUDENT MANNER. THE NUMBER OF PERSONS USED BY OPERATOR IN CONDUCTING THE OPERATIONS, THEIR HOURS OF WORK AND THEIR COMPENSATION FOR SERVICES PERFORMED SHALL BE DETERMINED BY OPERATOR. ALL EMPLOYEES AND OTHER PERSONNEL PROVIDED BY OPERATOR PURSUANT TO THIS AGREEMENT SHALL BE THE EMPLOYEES OR INDEPENDENT CONTRACTORS OF OPERATOR AND IN NO EVENT SHALL SUCH EMPLOYEES OR OTHER PERSONNEL BE DEEMED EMPLOYEES OR CONTRACTORS OF OWNER. ON OR BEFORE THE COMMENCEMENT DATE, OPERATOR SHALL DESIGNATE TO OWNER IN WRITING A REPRESENTATIVE WHO SHALL BE AUTHORIZED TO ACT ON BEHALF OF OPERATOR AS TO THE OPERATIONS AND WITH WHOM OWNER MAY CONSULT AT ALL REASONABLE TIMES. OPERATOR MAY CHANGE ITS REPRESENTATIVE BY WRITTEN NOTICE TO OWNER. SECTION 2.3 OPERATOR WARRANTIES. OPERATOR WARRANTS AND REPRESENTS TO OWNER AS FOLLOWS: OPERATOR SHALL PERFORM THE OPERATIONS, AND SHALL REQUIRE ALL CONTRACTORS, SUBCONTRACTORS AND MATERIALMEN FURNISHING LABOR, MATERIAL OR SERVICES FOR THE OPERATIONS TO PERFORM THEIR SERVICES AND CARRY OUT THEIR RESPONSIBILITIES, IN A DILIGENT, SAFE AND EFFICIENT MANNER IN OPERATING AGR EEMENT NATURAL GAS TRANS FACILITIES HEARTLAND CORN PRODUCTS JOHN WEBSTER ACCORDANCE WITH GOOD WORKMANLIKE AND PRUDENT PRACTICES GENERALLY FOLLOWED BY THE GAS PIPELINE INDUSTRY UNDER SIMILAR CIRCUMSTANCES, BUT SUCH PRACTICES SHALL NOT BE LESS THAN AS MAY BE SPECIFICALLY REQUIRED BY THIS AGREEMENT. IN CARRYING OUT SUCH RESPONSIBILITIES, OPERATOR SHALL COMPLY, AND SHALL USE ITS REASONABLE EFFORTS TO REQUIRE ALL CONTRACTORS, SUBCONTRACTORS AND MATERIALMEN TO COMPLY, WITH ALL LAWS OF GOVERNMENTAL AUTHORITIES HAVING JURISDICTION. ALL POLICIES AND PROCEDURES TO BE DEVELOPED BY OPERATOR HEREUNDER SHALL BE AVAILABLE TO OWNER FOR ITS REVIEW AT OPERATOR'S OFFICE DURING NORMAL BUSINESS HOURS. THESE WARRANTIES ARE EXCLUSIVE AND GIVEN IN LIEU OF ALL OTHER WARRANTIES WHETHER STATUTORY, EXPRESS, OR IMPLIED (INCLUDING ANY IMPLIED WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NONINFRINGEMENT OF THIRD PARTY INTELLECTUAL PROPERTY RIGHTS, OR ANY WARRANTY ARISING FROM A COURSE OF DEALING, USAGE, OR TRADE PRACTICE). SECTION 2.4 OWNER WARRANTIES. OWNER WARRANTS AND REPRESENTS TO OPERATOR THAT THE INFORMATION IT SUPPLIES TO OPERATOR UPON WHICH THE OPERATIONS MAY BE BASED IS TRUE AND CORRECT TO THE BEST OF OWNER'S KNOWLEDGE. SECTION 2.5 MONTHLY OPERATING FEE FOR ROUTINE WORK. WITH RESPECT TO EACH CALENDAR MONTH FROM AND AFTER THE COMMENCEMENT DATE, OWNER SHALL PAY TO OPERATOR AN INITIAL MONTHLY OPERATING FEE OF $4,000.00 FOR PERFORMING ROUTINE WORK. THE PARTIES SHALL REVIEW THE MONTHLY OPERATING FEE ON AN ANNUAL BASIS, STARTING ON NOVEMBER 1, 2024 AND ON EACH NOVEMBER 1 THEREAFTER, AND RESERVE THE RIGHT TO MODIFY THE FEES UPON MUTUAL AGREEMENT. OPERATING AGR EEMENT NATURAL GAS TRANS FACILITIES 8 HEARTLAND CORN PRODUCTS JOHN WEBSTER SECTION 2.6 COMPENSATION FOR NON -ROUTINE WORK. EXCEPT FOR ANY NON -ROUTINE EXPENDITURE THAT RESULTS FROM OPERATOR'S BREACH OF THIS AGREEMENT, NEGLIGENCE, OR WILLFUL MISCONDUCT, OWNER SHALL BEAR THE COST OF ANY DIRECT OUT-OF-POCKET EXPENDITURE REASONABLY INCURRED BY OPERATOR FOR NON -ROUTINE AND EMERGENCY WORK PERFORMED IN CONNECTION WITH THE FACILITIES, INCLUDING LABOR AND MATERIALS, PLUS OPERATOR'S OVERHEAD OF 15 PERCENT (1 5%) OF SUCH COSTS. ANY NON - ROUTINE WORK THAT IS IN EXCESS OF $ 1,000.00 PER EVENT AND THAT IS NOT THE RESULT OF AN EMERGENCY, WILL BE REVIEWED AND APPROVED BY THE OWNER IN ADVANCE, SUBJECT TO SECTION 2.1 (C). "NON -ROUTINE WORK" IS DEFINED IN MORE DETAIL. IN EXHIBIT D ATTACHED HERETO. THE PARTIES SHALL REVIEW THE NON -ROUTINE FEES ON AN ANNUAL. BASIS, STARTING ON NOVEMBER 1, 2024 AND ON EACH NOVEMBER 1 THEREAFTER, AND RESERVE THE RIGHT TO MODIFY THE FEES UPON MUTUAL. AGREEMENT. SECTION 2.7 PAYMENT. ON OR BEFORE THE FIFTEENTH (1 5TH) DAY OF EACH CALENDAR MONTH, OPERATOR SHALL RENDER AN INVOICE TO OWNER INDICATING ALL FEES PAYABLE UNDER THIS AGREEMENT FOR THE PRECEDING CALENDAR MONTH. PAYMENT IS DUE FROM OWNER ON OR BEFORE THE FIFTEENTH DAY FOLLOWING THE DATE THE BILL IS ISSUED BY OPERATOR. A LATE PAYMENT CHARGE OF ONE AND ONE-HALF PERCENT PER MONTH, OR THE LEGALLY AUTHORIZED MAXIMUM INTEREST RATE, WHICHEVER IS LOWER, SHALL BE LEVIED ON ANY UNPAID BALANCES. SECTION 2.8 OWNER DUTIES. OWNER SHALL FULLY COOPERATE WITH OPERATOR IN PERFORMING OPERATIONS. OWNER HEREBY GRANTS OPERATOR THE NON-EXCLUSIVE RIGHT TO ACCESS AND USE THE FACILITIES, FOR PURPOSES OF AND SUBJECT OPERATING AGR EEMENT NATURAL GAS TRANS FACILITIES HEARTLAND CORN PRODUCTS JOHN WEBSTER TO THE TERMS OF THIS AGREEMENT. ARTICLE III: TRANSFERS OF RESPONSIBILITIES OF OPERATOR TRANSFER OF RESPONSIBILITIES. (A) UPON THE EXPIRATION OF THIS AGREEMENT OR THE REMOVAL OF OPERATOR UNDER SECTION 7.2, THE OPERATOR SHALL ASSIGN, TRANSFER AND DELIVER TO THE PERSON SELECTED BY OWNER TO SUCCEED OPERATOR (OR TO SUCH OTHER PERSONS AS OWNER SHALL DIRECT) (1) POSSESSION AND CONTROL OF THE FACILITIES AND ALL OPERATIONS AND (2) TO THE EXTENT REQUESTED BY OWNER, ALL CONTRACTS, WARRANTIES, OPERATING AND MAINTENANCE MANUALS, DESIGNS, DRAWINGS, OPERATIONAL PLANS, PROPRIETARY INFORMATION AND OPERATIONAL RIGHTS OBTAINED OR ENTERED INTO BY OPERATOR EXCLUSIVELY WITH RESPECT TO THE FACILITIES OR EXCLUSIVELY IN CONNECTION WITH THE OPERATIONS, IN EACH CASE WITHOUT GIVING RISE TO ANY PENALTY, CHARGE, RESTRICTION, LIEN, SECURITY INTEREST, ENCUMBRANCE, CANCELLATION, TERMINATION, ACCELERATION OR CHANGE IN TERMS NOT PREVIOUSLY APPROVED BY OWNER. OPERATOR SHALL FULLY COOPERATE WITH OWNER IN TRANSFER OF OPERATIONS HEREUNDER TO OWNER OR A SUCCESSOR OPERATOR DESIGNATED BY OWNER. UPON TERMINATION, OPERATOR SHALL RETURN TO OWNER ALL ORIGINAL RECORDS AND ANY MATERIALS PURCHASED BY OPERATOR AND PAID FOR BY OWNER, SUCH AS PRETESTED PIPE, VALVES AND OTHER MISCELLANEOUS MATERIALS AND SUPPLIES. (B) AS SOON AS PRACTICABLE AFTER THE DATE ON WHICH THE OPERATOR IS REQUIRED TO TRANSFER ITS RESPONSIBILITIES AS PROVIDED IN ARTICLE III (A), OWNER MAY CONDUCT AN AUDIT AND INVENTORY OF THE FACILITIES AND ALL OF OWNER'S ASSETS AND PROPERTIES OPERATED, MANAGED OR CONTROLLED BY OPERATOR. SUCH AUDITS AND INVENTORY SHALL BE USED IN THE RETURN OF AND THE ACCOUNTING FOR THE FACILITIES AND OWNER'S PROPERTIES AND ASSETS BY OPERATOR FOR THE PURPOSES OF THE TRANSFER OF RESPONSIBILITIES UNDER ARTICLE III. ALL COSTS AND OPERATING AGR EEMENT 1 O NATURAL GAS TRANS FACILITIES HEARTLAND CORN PRODUCTS JOHN WEBSTER EXPENSES INCURRED IN CONNECTION WITH SUCH AUDITS AND INVENTORY SHALL, BE BORNE BY OWNER. ARTICLE IV: INSURANCE SECTION 4.1 OWNER'S INSURANCE. OWNER SHALL PROCURE AND MAINTAIN IN FULL FORCE AND EFFECT, AT THE OWNER'S COST, ALL RISK PROPERTY INSURANCE IN AN AMOUNT EQUAL TO THE FULL INSURABLE VALUE OF THE FACILITIES. SECTION 4.2 OPERATOR'S INSURANCE. OPERATOR SHALL PROCURE AND MAINTAIN IN FULL FORCE AND EFFECT AT THE OPERATOR'S COST, THE FOLLOWING INSURANCE COVERAGE: (A) HCP SHALL PROVIDE WORKER'S COMPENSATION INSURANCE FOR ALL OF ITS EMPLOYEES IN ACCORDANCE WITH THE STATUTORY REQUIREMENTS OF THE STATE OF MINNESOTA. HCP SHALL ALSO CARRY EMPLOYER'S LIABILITY COVERAGE WITH MINIMUM LIMITS AS FOLLOWS: • $500,000 - BODILY INJURY BY DISEASE PER EMPLOYEE • $500,000 - BODILY INJURY BY DISEASE AGGREGATE • $500,000 - BODILY INJURY BY ACCIDENT (B) HCP SHALL MAINTAIN COMMERCIAL GENERAL LIABILITY INSURANCE IN A MINIMUM AMOUNT OF $1,500,000 PER OCCURRENCE; $2,000,000 ANNUAL AGGREGATE. (C) AUTOMOBILE LIABILITY INSURANCE COVERING OWNED, NON -OWNED, AND HIRED VEHICLES WITH MINIMUM COMBINED SINGLE LIABILITY LIMIT OF $1 ,000,000 PER OCCURRENCE. (D) HCP SHALL MAINTAIN EXCESS LIABILITY INSURANCE COVERAGE IN A MINIMUM AMOUNT OF $2,000,000. OPERATING AGR EEMENT 1 1 NATURAL GAS TRANS FACILITIES HEARTLAND CORN PRODUCTS JOHN WEBSTER HUC'S MAXIMUM LIABILITY IS LIMITED TO A COMBINED SINGLE LIMIT OF 1 ,500,000 BY MINNESOTA STATUTE. THE INSURANCE REQUIRED IN (B), (C) AND (D) SHALL REFLECT THAT THE OTHER PARTY IS AN ADDITIONAL INSURED. WITHIN THIRTY (30) DAYS OF EFFECTIVE DATE OF THIS AGREEMENT, EACH PARTY SHALL FURNISH TO THE OTHER PARTY CERTIFICATES AS EVIDENCE SHOWING THAT THE INSURANCE POLICIES TO BE CARRIED IN ACCORDANCE WITH THIS PROVISION HAVE BEEN OBTAINED. ALL INSURANCE TO BE CARRIED PURSUANT TO THE ABOVE SHALL BE ENDORSED TO REQUIRE THE INSURER TO FURNISH 30 DAYS' WRITTEN NOTICE PRIOR TO EFFECTIVE DATE OF ANY MODIFICATION OR CANCELLATION OF SUCH INSURANCE TO THE CERTIFICATE HOLDER. THE PARTIES AGREE THAT THE LIMITS OF INSURANCE WILL BE AT LEAST IN AN AMOUNT EQUAL TO THE MAXIMUM LIABILITY LIMITS FOR MUNICIPALITIES IN MINNESOTA AS MAY BE ADJUSTED FROM TIME TO TIME. ARTICLE V: FORCE MAJEURE SECTION 5.1 PERFORMANCE EXCUSED. IF ANY PARTY IS RENDERED UNABLE, WHOLLY OR IN PART, BY FORCE MAJEURE TO CARRY OUT ITS OBLIGATIONS UNDER THIS AGREEMENT, OTHER THAN THE OBLIGATION TO MAKE MONEY PAYMENTS OR TO FURNISH SECURITY, THAT PARTY SHALL GIVE TO ALL OTHER PARTIES PROMPT WRITTEN NOTICE OF THE FORCE MAJEURE WITH REASONABLY FULL PARTICULARS CONCERNING IT; AND THEREUPON, THE OBLIGATIONS OF THE PARTY GIVING NOTICE, SO FAR AS THEY ARE AFFECTED BY THE FORCE MAJEURE, SHALL BE SUSPENDED DURING, BUT NO LONGER THAN, THE CONTINUANCE OF THE FORCE MAJEURE. THE PARTY CLAIMING FORCE MAJEURE SHALL NOTIFY THE OTHER PARTIES OF THE FORCE MAJEURE SITUATION WITHIN A REASONABLE TIME AFTER THE OCCURRENCE OF THE FACTS RELIED ON AND SHALL KEEP ALL PARTIES INFORMED OF ALL SIGNIFICANT DEVELOPMENTS. SUCH NOTICE SHALL GIVE REASONABLY FULL PARTICULARS OF SAID FORCE MAJEURE, AND ALSO ESTIMATE THE PERIOD OF TIME, WHICH SAID PARTY WILL PROBABLY REQUIRE TO REMEDY THE FORCE MAJEURE. FORCE MAJEURE DOES NOT RELIEVE THE OPERATOR OF THE CONTRACTUAL RESPONSIBILITIES TO OPERATE THE FACILITIES; OPERATINGAGREEMENT NATURAL GAS TRANS FACILITIES 12 HEARTLAND CORN PRODUCTS JOHN WEBSTER PROVIDED THAT, THE FACILITIES CAN BE OPERATED UTILIZING REASONABLE AND SAFE METHODS. THE AFFECTED PARTY SHALL USE ALL REASONABLE DILIGENCE TO REMOVE THE FORCE MAJEURE SITUATION AS QUICKLY AS PRACTICABLE IN AN ECONOMIC MANNER. THE REQUIREMENT THAT ANY FORCE MAJEURE SHALL BE REMEDIED WITH ALL REASONABLE DISPATCH, SHALL NOT REQUIRE THE SETTLEMENT OF STRIKES, LOCKOUTS OR OTHER LABOR DIFFICULTY BY THE PARTY INVOLVED, CONTRARY TO ITS WISHES; HOW ALL SUCH DIFFICULTIES SHALL BE HANDLED SHALL BE ENTIRELY WITHIN THE DISCRETION OF THE PARTY CONCERNED. SECTION 5.2 FORCE MAJEURE DEFINED. THE TERM "FORCE MAJEURE", AS HERE EMPLOYED, SHALL MEAN AN ACT OF GOD, STRIKE, LOCKOUT OR OTHER INDUSTRIAL DISTURBANCE, ACT OF THE PUBLIC ENEMY, PANDEMICS, SUPPLY CHAIN ISSUES, WAR, BLOCKADE, PUBLIC RIOT, LIGHTNING, FIRE, STORM, FLOOD, EARTHQUAKE, EXPLOSION, GOVERNMENTAL ACTION, GOVERNMENTAL DELAY, RESTRAINT OR INACTION, UNAVAILABILITY OF EQUIPMENT AND ANY OTHER CAUSE, WHETHER OF THE KIND SPECIFICALLY ENUMERATED ABOVE OR OTHERWISE, WHICH IS NOT REASONABLY WITH THE CONTROL OF THE PARTY CLAIMING SUSPENSION. ARTICLE VI: ASSIGNMENT SECTION 6.1 ASSIGNMENT BY OWNER. OWNER MAY NOT ASSIGN ALL OR ANY PART OF ITS RIGHTS OR OBLIGATIONS UNDER THIS AGREEMENT WITHOUT PRIOR WRITTEN CONSENT OF OPERATOR. SECTION 6.2 ASSIGNMENT BY OPERATOR. OPERATOR MAY NOT ASSIGN ALL OR ANY PART OF ITS RIGHTS OR OBLIGATIONS UNDER THIS AGREEMENT WITHOUT THE PRIOR WRITTEN CONSENT OF OWNER. SUCH APPROVALS SHALL NOT BE UNREASONABLY DELAYED, WITHHELD OR CONDITIONED. OPERATINGAGREEMENT 1 NATURAL GAS TRANS FACILITIES HEARTLAND CORN PRODUCTS JOHN WEBSTER ARTICLE VII: TERM SECTION 7.1 TERM. THIS AGREEMENT SHALL, BECOME EFFECTIVE ON THE COMMENCEMENT DATE AND SHALL CONTINUE IN FORCE AND EFFECT UNTIL "NINE A.M. CENTRAL CLOCK TIME" ON DECEMBER 1, 2043, AND YEAR-TO-YEAR THEREAFTER, SUBJECT TO TERMINATION. (A) OWNER SHALL NOTIFY OPERATOR IN WRITING NINETY (90) DAYS PRIOR TO THE EXPIRATION DATE OF THIS AGREEMENT AS TO OWNER'S DESIRE FOR OPERATOR TO CONTINUE OPERATIONS OF THE FACILITY. OPERATOR SHALL RESPOND IN WRITING TO OWNER WITHIN THIRTY (30) DAYS OF RECEIPT OF OWNER'S NOTICE AND ON OR BEFORE SIXTY (60) DAYS PRIOR TO THE EXPIRATION OF THIS AGREEMENT REGARDING THE OPERATOR'S DESIRE TO CONTINUE AS OPERATOR. (B) OPERATOR SHALL RESERVE THE RIGHT TO REVIEW AND MODIFY ANY AND ALL FEES IN THIS AGREEMENT IN OCTOBER 2628, AND EACH) YEARS THEREAFTER, TO BE EFFECTIVE IN DECEMBER OF THAT YEAR, DUE TO CHANGES IN HUTCHINSON'S LABOR AND MATERIAL RATES. SECTION 7.2 DEFAULT AND TERMINATION. UPON FAILURE BY EITHER PARTY IN THE PERFORMANCE OF ANY PROVISION, CONDITION OR REQUIREMENT HEREIN, THE OTHER PARTY MAY GIVE NOTICE IN WRITING TO THE DEFAULTING PARTY SPECIFYING THE DEFAULT. UNLESS SUCH DEFAULT IS CURED WITHIN THIRTY (30) DAYS FOLLOWING RECEIPT OF SUCH NOTICE TO THE DEFAULTING PARTY, OR IF SUCH DEFAULT IS SUSCEPTIBLE OF BEING CURED AND SUCH CURE CANNOT BE COMPLETED WITH SUCH THIRTY (30) DAYS PERIOD, THEN IF THE CURE THEREOF IS NOT UNDERTAKEN PROMPTLY UPON RECEIPT OF SUCH NOTICE AND DILIGENTLY PROSECUTED THEREAFTER, THIS AGREEMENT MAY BE TERMINATED WITHIN SIXTY (60) DAYS OF THE DATE OF THE NOTICE CLAIMING DEFAULT WAS WRITTEN AT THE OPTION OF THE PARTY SERVING SUCH NOTICE OF DEFAULT. OPERATING AGR EEMENT 1 4 NATURAL GAS TRANS FACILITIES HEARTLAND CORN PRODUCTS JOHN WEBSTER SECTION 7.3 EFFECT OF TERMINATION. TERMINATION OF THIS AGREEMENT SHALL, NOT RELIEVE EITHER PARTY FROM ANY OBLIGATION INCLUDING PAYMENTS DUE FOR OPERATIONS AS PROVIDED IN THIS AGREEMENT, ACCRUING TO THE DATE OF SUCH TERMINATION OR RELIEVE ANY PARTY OF ANY LIABILITY FOR ITS BREACH OF THIS AGREEMENT. ARTICLE III SHALL SURVIVE ANY TERMINATION OF THIS AGREEMENT. ARTICLE VIII: MISCELLANEOUS SECTION 8.1 GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF MINNESOTA WITHOUT REFERENCE TO THE CHOICE OR CONFLICT OF LAW, RULES OR PRINCIPALS THEREOF WHICH WOULD REFER THE MATTER TO THE LAWS OF ANOTHER JURISDICTION. EACH PARTY SHALL ABIDE BY THE LAWS OF ANY GOVERNMENTAL AUTHORITIES WITH JURISDICTION OVER THE MATTERS OF THIS AGREEMENT, AS MAY BE AMENDED FROM TIME TO TIME. SECTION 8.2 ENTIRE AGREEMENT. THIS AGREEMENT AND THE SCHEDULES AND EXHIBITS HERETO CONTAIN THE ENTIRE AGREEMENT BETWEEN THE PARTIES WITH RESPECT TO THE SUBJECT MATTER HEREOF AND THERE ARE NO AGREEMENTS, UNDERSTANDING, REPRESENTATIONS OR WARRANTIES BETWEEN THE PARTIES OTHER THAN THOSE SET FORTH OR REFERRED TO HEREIN. SECTION 8.3 NOTICES. EXCEPT AS OTHERWISE SPECIFICALLY PROVIDED, ALL NOTICES AUTHORIZED OR REQUIRED BETWEEN THE PARTIES BY ANY OF THE PROVISIONS OF THIS AGREEMENT, SHALL BE IN WRITING, IN ENGLISH AND DELIVERED IN PERSON OR BY REGISTERED MAIL OR BY COURIER SERVICE OR BY ANY ELECTRONIC MEANS OF TRANSMITTING WRITTEN COMMUNICATIONS THAT PROVIDES CONFIRMATION OF COMPLETE OPERATINGAGREEMENT J NATURAL GAS TRANS FACILITIES 1 HEARTLAND CORN PRODUCTS JOHN WEBSTER TRANSMISSION, AND ADDRESSED TO SUCH PARTIES AS DESIGNATED BELOW. THE ORIGINATING NOTICE GIVEN UNDER ANY PROVISION OF THIS AGREEMENT SHALL BE DEEMED DELIVERED ONLY WHEN RECEIVED BY THE PARTY TO WHOM SUCH NOTICE IS DIRECTED, AND THE TIME FOR SUCH PARTY TO DELIVER ANY NOTICE IN RESPONSE TO SUCH ORIGINATING NOTICE SHALL RUN FROM THE DATE THE ORIGINATING NOTICE IS RECEIVED. THE SECOND OR ANY RESPONSE NOTICE SHALL BE DEEMED DELIVERED WHEN RECEIVED. "RECEIVED", FOR PURPOSES OF THIS SECTION WITH RESPECT TO WRITTEN NOTICE DELIVERED PURSUANT TO THIS AGREEMENT, SHALL BE ACTUAL DELIVERY OF THE NOTICE TO THE ADDRESS OF THE PARTY TO BE NOTIFIED, SPECIFIED IN ACCORDANCE WITH THIS SECTION. EACH PARTY SHALL HAVE THE RIGHT TO CHANGE ITS ADDRESS AT ANY TIME AND/OR DESIGNATE THAT COPIES OF ALL SUCH NOTICES BE DIRECTED TO ANOTHER PERSON AT ANOTHER ADDRESS, BY GIVING WRITTEN NOTICE THEREOF TO ALL OTHER PARTIES. HEARTLAND CORN PRODUCTS 53331 STATE HIGHWAY 19 P.O. Box A WINTHROP, MN 55396 ATTENTION: TOM PAITRICK E-MAIL: TOMP@HEARTLANDCORN.COM TELEPHONE No.: 507-647-5000 HUTCHINSON UTILITIES COMMISSION 225 MICHIGAN ST. SE HUTCHINSON, MINNESOTA 55350 ATTENTION: JOHN WEBSTER E-MAIL: JWEBSTER@HUTCHINSONMN.GOV SECTION 8.4 SUCCESSORS AND ASSIGNS. SUBJECT TO THE RESTRICTIONS AND REQUIREMENTS ON ASSIGNMENT AND TRANSFER CONTAINED IN THIS AGREEMENT, THIS AGREEMENT SHALL BE BINDING UPON AND INURE TO THE BENEFIT OF THE PARTIES HERETO AND THEIR RESPECTIVE SUCCESSORS AND ASSIGNS. OPERATING AGR EEMENT 1 6 NATURAL GAS TRANS FACILITIES HEARTLAND CORN PRODUCTS JOHN WEBSTER SECTION 8.5 HEADINGS. THE HEADINGS TO ARTICLES, SECTIONS AND OTHER SUBDIVISION OF THIS AGREEMENT ARE INSERTED FOR CONVENIENCE OF REFERENCE ONLY AND WILL. NOT AFFECT THE MEANING OR INTERPRETATION OF THIS AGREEMENT. SECTION 8.6 AMENDMENTS AND WAIVERS. THIS AGREEMENT MAY NOT BE MODIFIED OR AMENDED EXCEPT BY AN INSTRUMENT OR INSTRUMENTS IN WRITING, SIGNED BY ALL PARTIES. ANY PARTY MAY, ONLY BY AN INSTRUMENT IN WRITING, WAIVE COMPLIANCE BY ANOTHER PARTY HERETO WITH ANY TERM OR PROVISION OF THIS AGREEMENT ON THE PART OF SUCH OTHER PARTY HERETO TO BE PERFORMED OR COMPLIED WITH. THE WAIVER BY ANY PARTY OF A BREACH OF ANY TERM OR PROVISION OF THIS AGREEMENT SHALL NOT BE CONSTRUED AS A WAIVER OF ANY SUBSEQUENT BREACH. SECTION 8.7 SCHEDULES AND EXHIBIT. ALL SCHEDULES AND EXHIBITS TO THIS AGREEMENT ARE HEREBY INCORPORATED BY REFERENCE. SECTION 8.8 AGREEMENT FOR THE PARTIES' BENEFIT ONLY. THIS AGREEMENT IS NOT INTENDED TO CONFER UPON ANY PERSON NOT A PARTY HERETO OR A PERMITTED SUCCESSOR OR ASSIGN OF A PARTY ANY RIGHTS OR REMEDIES HEREUNDER, AND NO PERSON, OTHER THAN THE PARTIES OR A PERMITTED SUCCESSOR OR ASSIGN THEREOF, IS ENTITLED TO RELY ON ANY COVENANT OR AGREEMENT CONTAINED HEREIN. SECTION 8.9 SEVERABILITY. IF ANY TERM OR OTHER PROVISION OF THIS AGREEMENT IS INVALID, ILLEGAL OR INCAPABLE OF BEING ENFORCED BY ANY RULE OF LAW OR PUBLIC POLICY, ALL OTHER CONDITIONS AND PROVISIONS OF THIS AGREEMENT SHALL NEVERTHELESS REMAIN IN FULL. FORCE AND EFFECT SO LONG AS THE ECONOMIC OR LEGAL SUBSTANCE OF THE TRANSACTIONS CONTEMPLATED HEREBY IS NOT AFFECTED IN OPERATINGAGREEMENT J NATURAL GAS TRANS FACILITIES 1 HEARTLAND CORN PRODUCTS JOHN WEBSTER ANY ADVERSE MANNER TO ANY PARTY. UPON SUCH DETERMINATION THAT ANY TERM OR OTHER PROVISION IS INVALID, ILLEGAL OR INCAPABLE OF BEING ENFORCED, THE PARTIES HERETO SHALL NEGOTIATE IN GOOD FAITH TO MODIFY THIS AGREEMENT SO AS TO EFFECT THE ORIGINAL INTENT OF THE PARTIES AS CLOSELY AS POSSIBLE IN AN ACCEPTABLE MANNER TO THE END THAT THE TRANSACTIONS CONTEMPLATED HEREBY ARE FULFILLED TO THE EXTENT POSSIBLE. SECTION 8.10 INDEPENDENT CONTRACTOR" NO PARTNERSHIP. OPERATOR SHALL PERFORM ITS DUTIES AND OBLIGATIONS HEREUNDER AS AN INDEPENDENT CONTRACTOR, AND NOTHING CONTAINED HEREIN SHALL BE DEEMED TO CREATE A RELATIONSHIP OF EMPLOYER/EMPLOYEE, MASTER/SERVANT, AGENCY, PARTNERSHIP OR JOINT VENTURE. THIS AGREEMENT IS NOT INTENDED TO CREATE, AND SHALL NOT BE CONSTRUED TO CREATE, A RELATIONSHIP OF PARTNERSHIP OR AN ASSOCIATION FOR PROFIT BETWEEN OPERATOR AND OWNER. SECTION 8.1 1 DATA PRACTICES ACT. THE PARTIES ACKNOWLEDGE THAT HUTCHINSON IS SUBJECT TO MINNESOTA GOVERNMENT DATA PRACTICES ACT, MINNESOTA STATUTES, CHAPTER 13 (THE "ACT"), INCLUDING LIMITING PUBLIC ACCESS TO TRADE SECRET AND OTHER PROTECTED DATA. EACH PARTY AGREES TO DEFEND, INDEMNIFY, AND HOLD HARMLESS THE OTHER PARTY, ITS OFFICIALS, OFFICERS, AGENTS, EMPLOYEES, CONTRACTORS, AND SUBCONTRACTORS FROM ANY CLAIMS RESULTING FROM UNLAWFUL DISCLOSURE AND/OR USE OF SUCH PROTECTED DATA. HEARTLAND CORN PRODUCTS AGREES TO PROMPTLY NOTIFY HUTCHINSON IF HEARTLAND CORN PRODUCTS RECEIVES A REQUEST TO ACCESS THE TERMS OF THIS AGREEMENT, AND TO COOPERATE WITH HUTCHINSON IF HUTCHINSON SEEKS A PROTECTIVE ORDER, AT HUTCHINSON'S EXPENSE. HEARTLAND CORN PRODUCTS AGREES TO PROMPTLY NOTIFY HUTCHINSON IF HEARTLAND CORN PRODUCTS BECOMES AWARE OF ANY POTENTIAL CLAIM, OR FACTS GIVING RISE TO POTENTIAL CLAIMS. THE TERMS OF THIS SECTION SHALL SURVIVE THE TERMINATION OF THIS AGREEMENT. OPERATINGAGREEMENT NATURAL GAS TRANS FACILITIES 18 HEARTLAND CORN PRODUCTS JOHN WEBSTER HUTCHINSON AGREES TO PROMPTLY NOTIFY HEARTLAND CORN PRODUCTS IF HUTCHINSON RECEIVES A REQUEST TO ACCESS THE TERMS OF THIS AGREEMENT, AND TO COOPERATE WITH HEARTLAND CORN PRODUCTS IF HEARTLAND CORN PRODUCTS SEEKS A PROTECTIVE ORDER, AT HEARTLAND CORN PRODUCTS' EXPENSE. HUTCHINSON AGREES TO PROMPTLY NOTIFY HEARTLAND CORN PRODUCTS IF HUTCHINSON BECOMES AWARE OF ANY POTENTIAL, CLAIM, OR FACTS GIVING RISE TO POTENTIAL, CLAIMS. THE TERMS OF THIS SECTION SHALL, SURVIVE THE TERMINATION OF THIS AGREEMENT. SECTION 8.12 NEWS RELEASES. NEWS RELEASES CONCERNING THE OPERATIONS OR THE FACILITIES SHALL ONLY BE MADE IN ACCORDANCE WITH THE FOLLOWING GUIDELINES, SUBJECT TO THE REQUIREMENTS OF APPLICABLE LAWS AND GOVERNMENTAL RULES AND REGULATIONS: NO PUBLIC ANNOUNCEMENT OR STATEMENT SHALL BE ISSUED BY OPERATOR UNLESS PRIOR TO ITS RELEASE OWNER HAS BEEN FURNISHED WITH A COPY OF SUCH STATEMENT OR ANNOUNCEMENT AND THE REASONABLE APPROVAL OF THE OWNER HAS BEEN OBTAINED. WHERE A PUBLIC ANNOUNCEMENT OR STATEMENT BECOMES NECESSARY OR DESIRABLE BECAUSE OF AN EMERGENCY AS A RESULT OF ACTIVITIES ARISING UNDER THIS AGREEMENT, OPERATOR IS AUTHORIZED TO ISSUE AND MAKE SUCH ANNOUNCEMENTS OR STATEMENTS WITHOUT PRIOR REASONABLE APPROVAL OF THE OWNER, BUT SHALL PROMPTLY FURNISH OWNER WITH A COPY OF THE ANNOUNCEMENT OR STATEMENT. SECTION 8.13 AUTHORITY TO ENTER AGREEMENT. EACH PARTY TO THIS AGREEMENT REPRESENTS AND WARRANTS THAT IT HAS FULL AND COMPLETE AUTHORITY TO ENTER INTO AND PERFORM THIS AGREEMENT. EACH PERSON WHO EXECUTES THIS AGREEMENT ON BEHALF OF EITHER PARTY REPRESENTS AND WARRANTS THAT IT HAS FULL AND COMPLETE AUTHORITY TO DO SO AND THAT SUCH PARTY WILL BE BOUND THEREBY. OPERATINGAGREEMENT 1 NATURAL GAS TRANS FACILITIES HEARTLAND CORN PRODUCTS JOHN WEBSTER SECTION 8. 1 4 ALTERNATIVE DISPUTE RESOLUTION. WHENEVER THE PARTIES DISAGREE ON THE INTERPRETATION OR ENFORCEMENT OF THIS AGREEMENT, OR UPON CALCULATIONS OR PAYMENTS, THEN UPON WRITTEN REQUEST OF EITHER PARTY, REPRESENTATIVES WITH SETTLEMENT AUTHORITY FOR EACH PARTY SHALL MEET IN PERSON AND CONFER IN GOOD FAITH TO RESOLVE THE DISPUTE. IF THE PARTIES ARE UNABLE TO RESOLVE THE DISPUTE, THEY SHALL SUBMIT THEIR DISPUTE TO MEDIATION PURSUANT TO THE MINNESOTA CIVIL. MEDIATION ACT. IF THE DISPUTE IS NOT RESOLVED BY MEDIATION, THE PARTIES MAY INVOKE THEIR LEGAL REMEDIES AVAILABLE AT LAW. SECTION 8.15 OTHER DOCUMENTS. THIS AGREEMENT, THE FIRM TRANSPORTATION CAPACITY AGREEMENT, AND THE INTERCONNECT AGREEMENT BETWEEN THE PARTIES, SHALL BE CONSTRUED TO GIVE EFFECT TO ALL PROVISIONS OF THE DOCUMENTS TO THE MAXIMUM EXTENT POSSIBLE. IN THE EVENT OF A DIRECT AND IRRECONCILABLE CONFLICT BETWEEN THE DOCUMENTS, THEY MUST BE CONSTRUED IN THE FOLLOWING ORDER OF PRIORITY: (1) THE FIRM TRANSPORTATION CAPACITY AGREEMENT; (2) THE INTERCONNECT AGREEMENT; (3) THIS AGREEMENT. SECTION 8.16 COUNTERPARTS. THIS AGREEMENT MAY BE EXECUTED IN COUNTERPARTS, AND EACH EXECUTED COUNTERPART SHALL HAVE THE SAME FORCE AND EFFECT AS AN ORIGINAL. INSTRUMENT. ARTICLE IX LIABILITY; INDEMNITY SECTION 9.1 INDEMNIFICATION BY OWNER. OWNER SHALL DEFEND, PROTECT, INDEMNIFY, AND HOLD HARMLESS OPERATOR, AND ITS MEMBERS, DIRECTORS, OFFICERS, EMPLOYEES AND AGENTS FROM AND AGAINST ALL LIABILITY, CLAIMS, LIENS, COSTS, EXPENSES, DEMANDS, FINES OR OTHER ACTIONS IMPOSED BY ANY GOVERNMENTAL. AGENCY WITH JURISDICTION, SUITS AND CAUSES OF ACTION OF EVERY KIND AND CHARACTER ARISING IN FAVOR OPERATING AGR EEMENT 2 O NATURAL GAS TRANS FACILITIES HEARTLAND CORN PRODUCTS JOHN WEBSTER OF ANY THIRD PARTY ON ACCOUNT OF PERSONAL, INJURIES OR DEATH, OR DAMAGES TO PROPERTY (INCLUDING WITHOUT LIMITATION CLAIMS FOR POLLUTION AND ENVIRONMENTAL DAMAGE) IN ANY WAY DIRECTLY RESULTING FROM THE NEGLIGENT ACTS OR OMISSIONS OF THE OWNER, ITS AGENTS, EMPLOYEES, REPRESENTATIVES, OR CONTRACTORS, OR FROM THE FAILURE OF OWNER, ITS AGENTS, EMPLOYEES, REPRESENTATIVES, OR CONTRACTORS TO PERFORM ITS OBLIGATIONS UNDER THIS AGREEMENT AND IN COMPLIANCE WITH ALL APPLICABLE LAWS. THIS INDEMNITY INCLUDES OWNER'S AGREEMENT TO PAY ALL COSTS OF DEFENSE, INCLUDING WITHOUT LIMITATION ATTORNEYS' FEES, INCURRED BY ANY PERSON OR PARTY INDEMNIFIED HEREIN. OWNER ACKNOWLEDGES THAT UTILITY EQUIPMENT MALFUNCTION OR FAILURE MAY OCCUR NOTWITHSTANDING THE INSPECTION, MAINTENANCE, AND REPAIR WORK PERFORMED HEREUNDER, AND HEREBY INDEMNIFIES, RELEASES, AND HOLDS OPERATOR HARMLESS FROM ANY CLAIM OR LIABILITY, AND ANY DIRECT OR INDIRECT DAMAGES CLAIMED OR ACTUALLY SUFFERED (INCLUDING, WITHOUT LIMITATION, CONSEQUENTIAL DAMAGES AND LOSS OF PROFITS), RESULTING FROM ANY UTILITY EQUIPMENT MALFUNCTION OR FAILURE OCCURRING DURING THE TERM OF THIS AGREEMENT, EXCEPT SUCH CLAIMS OR LIABILITY DIRECTLY RESULTING FROM THE NEGLIGENT ACTS OR OMISSIONS OF OPERATOR. SECTION 9.2 INDEMNIFICATION BY OPERATOR. SUBJECT TO SECTION 2.1 (C), OPERATOR SHALL DEFEND, PROTECT, INDEMNIFY, AND HOLD HARMLESS OWNER, AND ITS MEMBERS, DIRECTORS, OFFICERS, EMPLOYEES AND AGENTS FROM AND AGAINST ALL LIABILITY, CLAIMS, LIENS, COSTS, EXPENSES, DEMANDS, FINES OR OTHER ACTIONS IMPOSED BY ANY GOVERNMENTAL AGENCY WITH JURISDICTION, SUITS AND CAUSES OF ACTION OF EVERY KIND AND CHARACTER ARISING IN FAVOR OF ANY THIRD PARTY ON ACCOUNT OF PERSONAL INJURIES OR DEATH, OR DAMAGES TO PROPERTY (INCLUDING WITHOUT LIMITATION CLAIMS FOR POLLUTION AND ENVIRONMENTAL DAMAGE) IN ANY WAY DIRECTLY RESULTING FROM THE NEGLIGENT ACTS OR OMISSIONS OF OPERATOR, ITS AGENTS, EMPLOYEES, REPRESENTATIVES, OR CONTRACTORS, OR FROM THE FAILURE OF OPERATOR, ITS AGENTS, EMPLOYEES, REPRESENTATIVES, OR CONTRACTORS TO OPERATINGAGREEMENT 21 NATURAL GAS TRANS FACILITIES HEARTLAND CORN PRODUCTS JOHN WEBSTER PERFORM ITS OBLIGATIONS UNDER THIS AGREEMENT AND IN COMPLIANCE WITH ALL APPLICABLE LAWS. THIS INDEMNITY INCLUDES OPERATOR'S AGREEMENT TO PAY ALL COSTS OF DEFENSE, INCLUDING WITHOUT LIMITATION ATTORNEYS' FEES, INCURRED BY ANY PERSON OR PARTY INDEMNIFIED HEREIN. OPERATOR AGREES THAT THE OBLIGATIONS OF INDEMNIFICATION HEREIN INCLUDE, BUT ARE NOT LIMITED TO, LIENS BY THIRD PARTIES AGAINST OWNER AND ITS PROPERTY BECAUSE OF LABOR, SERVICES, MATERIALS, OR ANY OTHER SUBJECT OF LIEN, FURNISHED TO OPERATOR OR ITS ASSIGNEES OR SUBCONTRACTORS, IN CONNECTION WITH ANY WORK PERFORMED BY OPERATOR HEREUNDER. SECTION 9.3 NO CONSEQUENTIAL DAMAGES UNDER NO CIRCUMSTANCES SHALL EITHER PARTY HERETO BE LIABLE TO THE OTHER HEREUNDER FOR INDIRECT, SPECIAL, CONSEQUENTIAL OR SIMILAR DAMAGES, OR FOR LOSS OF PROFITS. OPERATINGAGREEMENT NATURAL GAS TRANS FACILITIES 22 HEARTLAND CORN PRODUCTS JOHN WEBSTER WHEREFORE, THE PARTIES HAVE EXECUTED THIS AGREEMENT IN TWO (2) DUPLICATE ORIGINALS BY THEIR DULY AUTHORIZED, RESPECTIVE OFFICERS, EFFECTIVE AS OF THE DATE SPECIFIED ABOVE. HUTCHINSON UTILITIES COMMISSION No NAME: TITLE: COMMISSION PRESIDENT DATE: WITNESS: DATE: WITNESS: DATE: OPERATING AGREEMENT NATURAL GAS TRANS FACILITIES HEARTLAND CORN PRODUCTS 23 JOH N WESSTER HEARTLAND CORN PRODUCTS BY: NAME: 0 rv--, PA 1721 TITLE: C-.�=-®� o DATE: I � - 0 � - WITNES--r-,, DATE'. c- z- EXHIBIT "A" THIS EXHIBIT "A" IS ATTACHED TO AND MADE PART OF THAT CERTAIN OPERATING AGREEMENT - NATURAL, GAS TRANSMISSION FACILITIES (THE "AGREEMENT") BY AND BETWEEN THE HEARTLAND CORN PRODUCTS ("OWNER") AND HUTCHINSON UTILITIES COMMISSION ("OPERATOR"). OPERATOR'S PAYMENT INSTRUCTIONS: FOR THE PURPOSE OF THIS AGREEMENT, OWNER SHALL MAKE ALL PAYMENTS PROVIDED IN THE AGREEMENT TO OPERATOR VIA CHECK, OR ACH, TO THE FOLLOWING: HUTCHINSON UTILITIES COMMISSION 225 MICHIGAN ST SE HUTCHINSON, MINNESOTA 55350 EXHIBIT "B" THIS EXHIBIT "B" IS ATTACHED TO AND MADE PART OF THAT CERTAIN OPERATING AGREEMENT - NATURAL, GAS TRANSMISSION FACILITIES (THE "AGREEMENT") BY AND BETWEEN THE HEARTLAND CORN PRODUCTS ("OWNER") AND HUTCHINSON UTILITIES COMMISSION ("OPERATOR"). OWNER HAS CONSTRUCTED (OR WILL CONSTRUCT) AND OWN THE NATURAL GAS TRANSMISSION FACILITIES, INCLUDING ALL APPURTENANCES THERETO, ("FACILITY" OR "FACILITIES") SERVING HEARTLAND CORN PRODUCTS IN THE FOLLOWING DRAWING ATTACHED HERETO AND MADE A PART HEREOF. EACH INTERCONNECTED THIRD PARTY NATURAL GAS PIPELINE SHALL OPERATE THEIR RESPECTIVE MEASUREMENT STATION CONNECTING TO THE FACILITIES. EXHIBIT "C" THIS EXHIBIT "C" IS ATTACHED TO AND MADE PART OF THAT CERTAIN OPERATING AGREEMENT - NATURAL, GAS TRANSMISSION FACILITIES (THE "AGREEMENT") BY AND BETWEEN HEARTLAND CORN PRODUCTS ("OWNER") AND HUTCHINSON UTILITIES COMMISSION ("OPERATOR"). ROUTINE WORK TOTAL PRICE: $ 4,000.00 PER MONTH COMPLETE LIST OF ROUTINE ITEMS: A. MAINTENANCE, REPAIR AND SECURITY 1. PERFORM ALL DAY-TO-DAY OPERATIONS AND MAINTENANCE OF THE FACILITIES 2. MAINTAIN, REPAIR AND TEST ALL VALVES 3. PERFORM CONTINUING SURVEILLANCE OF THE FACILITIES AND PROVIDE VALVE SECURITY 4. MAINTAIN, REPAIR, AND TEST REGULATORS 5. MAINTAIN THE CLEANLINESS AND ENVIRONMENTAL SOUNDNESS OF THE FACILITIES C. MAKE MINOR MECHANICAL REPAIR REQUIRING NO REPLACEMENT OF PIPE, APPURTENANCES, OR MECHANICAL PARTS %. PERFORM PREVENTATIVE MAINTENANCE REQUIRING NO REPLACEMENT OF PIPE, APPURTENANCES, OR MECHANICAL PARTS 8. RESPOND TO SERVICE CALLS, INCLUDING EMERGENCIES, DURING HUC STANDARD WORK HOURS (6:30 AM TO 5:00 PM, MONDAY THROUGH FRIDAY), EXCEPT TO THE EXTENT RESPONSE TO AN EMERGENCY REQUIRES ADDITIONAL PERSONNEL THAT ARE NOT ON DUTY DURING SAID EMERGENCY AND/OR ADDITIONAL OUTSIDE CONTRACTORS B. LEGAL AND REGULATORY COMPLIANCE 1 . DOT REGULATORY AGENCY REPORTING 2. MAINTAIN DOT TRANSMISSION FACILITY RECORDS 3. MAINTAIN TRAINING & DOT OPERATOR QUALIFICATION RECORDS 4. MAINTAIN DRUG AND ALCOHOL COMPLIANCE PROGRAMS 5. PERFORM ALL REQUIRED DOT ANNUAL FUNCTIONS, 5. PROVIDE LINE LOCATING AND ONE CALL RESPONSE SERVICES, INCLUDING DOCUMENTATION C. MAINTAIN RIGHT-OF-WAY MARKERS AND SIGNS %. PERFORM ALL DOT MANDATED INSPECTIONS AT REQUIRED FREQUENCIES 8. PREPARE ALL NECESSARY REPORTS RELATED TO FIELD OPERATIONS OF THE FACILITIES FOR APPLICABLE GOVERNMENTAL. AUTHORITIES 9. REPORTING TO OWNER ANY NOTICES OF VIOLATIONS OF ANY LAWS OR PERMIT PROVISIONS 10. DEVELOP ANY OTHER PLANS, REPORTS, AND OTHER DOCUMENTS AS MAY BE REQUIRED BY ANY GOVERNMENTAL. AUTHORITY WITH JURISDICTION OVER THE FACILITIES 11. OTHERWISE MAINTAIN THE FACILITIES' AND OPERATIONS' ONGOING COMPLIANCE WITH ALL LAWS AND PERMITS C. MONITORING AND TESTING 1. PERFORM ROUTINE METER TESTING AND CALIBRATION OF THE INTERCONNECT STATION METER 2. PROVIDE CATHODIC PROTECTION MONITORING, MAINTENANCE, DOCUMENTATION, AND RECORDKEEPING FOR THE FACILITIES 3. PERFORM ROUTINE FIELD LEVEL MONITORING OF TRANSMISSION SYSTEM OPERATIONS 4. PERFORM INTERNAL. AND EXTERNAL. CORROSION INSPECTIONS J. PERFORM WEEKLY/MONTHLY ODORIZATION MONITORING C. PERFORM ATMOSPHERIC CORROSION SURVEYS %. PERFORM ROUTINE PIPELINE PATROLS 8. CONTINUOUSL.Y MONITOR TRANSMISSION SYSTEM PRESSURES AND FLOWS IN REAL-TIME 9. TEST OVERPRESSURE PROTECTION EQUIPMENT 10. MAINTAIN PROPER DOCUMENTATION ON ALL INSPECTIONS, TESTS AND CALIBRATIONS D. COMMUNITY RELATIONS 1 . ACT AS PUBLIC LIAISON WITH APPROPRIATE EMERGENCY RESPONDERS AND PUBLIC OFFICIALS 2. TAKE OTHER SUCH MEASURES AS ARE REASONABLY NECESSARY TO CULTIVATE AND MAINTAIN GOOD PUBLIC RELATIONS WITH MEMBERS OF THE HEARTLAND CORN PRODUCTS AND EDUCATE THE PUBLIC SO AS TO INCREASE AWARENESS OF THE FACILITIES AND THE DANGERS ASSOCIATED THEREWITH E. OTHER 1 . MAINTAIN IN FORCE AND EFFECT, AND REQUIRE ALL CONTRACTORS (AND THEIR SUBCONTRACTORS) PERFORMING SERVICES FOR THE BENEFIT OF OWNER TO MAINTAIN IN FORCE AND EFFECT, INSURANCE OF THE TYPES AND IN THE AMOUNTS SPECIFIED BY OWNER. 2. UNDERTAKE ALL REASONABLE EFFORTS TO KEEP THE FACILITIES, ALL CONTRACTS RELATING TO THE OPERATIONS, AND ALL PROPERTY AND RIGHTS OF OWNER FREE AND CLEAR OF ANY AND ALL LIENS, ENCUMBRANCES, SECURITY INTERESTS, CHARGES, CLAIMS AND RESTRICTIONS ARISING OUT OF OR ON ACCOUNT OF THE OPERATIONS 3. MAINTAIN 24-HOUR EMERGENCY TELEPHONE NUMBER 4. PROCURE AND FURNISH ALL MATERIALS, EQUIPMENT, SERVICES, SUPPLIES, LABOR AND SUPERVISION NECESSARY TO CARRY OUT OPERATOR'S RESPONSIBILITIES UNDER THIS AGREEMENT. EXHIBIT "D" THIS EXHIBIT "D" IS ATTACHED TO AND MADE PART OF THAT CERTAIN OPERATING AGREEMENT - NATURAL, GAS TRANSMISSION FACILITIES (THE "AGREEMENT") BY AND BETWEEN HEARTLAND CORN PRODUCTS ("OWNER") AND HUTCHINSON UTILITIES COMMISSION ("OPERATOR"). NON -ROUTINE WORK ALL NON -ROUTINE WORK PERFORMED AT: COST + 1 5% EXAMPLE OF NON -ROUTINE ITEMS: 1. PAINTING 2. DEPTH OF COVER SURVEYS 3. ASSOCIATED LINE BLOW DOWNS & PURGING 4. RETIREMENT OF FACILITIES 5. LINE RELOCATIONS C. PERFORM AERIAL TRANSMISSION LEAKAGE SURVEYS 7. ENGINEERING STUDIES (AS REQUIRED) 8. REPLACEMENT OF CATHODIC PROTECTION FACILITIES 9. MEASUREMENT AND TRANSMISSION FACILITY MATERIALS 10. AFTER-HOURS, HOLIDAYS, AND WEEKEND EMERGENCY RESPONSE 1 1 . AFTER - HOURS, HOLIDAYS, AND WEEKEND EMERGENCY LOCATING OF NATURAL GAS FACILITIES 12. ADDITIONAL PERSONNEL AS MAY BE REQUIRED DURING EMERGENCIES 13. ADDITIONAL CONTRACTORS AS MAY BE REQUIRED DURING EMERGENCIES 14. FEES FOR PUBLIC AWARENESS PROGRAM MATERIALS 15. FEES ASSOCIATED WITH COMMUNITY AWARENESS EMERGENCY RESPONSE PROGRAM 16. DEVELOP AND MAINTAIN EMERGENCY RESPONSE PLAN, OPERATION & MAINTENANCE MANUAL, OPERATOR QUALIFICATION PLAN, PUBLIC AWARENESS PROGRAM, CONTROL ROOM MANAGEMENT PLAN, AND TRANSMISSION INTEGRITY MANAGEMENT PROGRAMS, INCLUDING ANNUAL UPDATES. ALSO INCLUDES DEVELOPING ADDITIONAL PROGRAMS AND PLANS AS REQUIRED BY THE DOT/PHMSA. 17. MAINTAIN MEMBERSHIP IN GOPHER STATE ONE -CALL PROGRAM AND ANY OTHER APPLICABLE LOCAL ONE -CALL PROGRAM EXHIBIT "D", CONTINUED 18. FACILITATE ANNUAL, DAMAGE PREVENTION TRAINING MEETING FOR EXCAVATION CONTRACTORS 19. DEVELOP AND IMPLEMENT COMMUNITY AWARENESS PROGRAMS, INCLUDING, BUT NOT LIMITED TO, MEMBERSHIP IN MINNESOTA COMMUNITY AWARENESS EMERGENCY RESPONSE PROGRAM 20. ANY AND ALL OTHER ITEMS RELEVANT TO TRANSMISSION FACILITY OPERATION AND MAINTENANCE THAT ARE NEITHER LISTED ABOVE OR INCLUDED IN THE ATTACHED EXHIBIT C. * "EXPENSE", AS REFERENCED ABOVE, SHALL BE THE COST OF MATERIALS, EQUIPMENT AND THIRD PARTY LABOR TO COMPLETE THE APPLICABLE WORK OR PROJECT. OPERATOR SHALL INVOICE SUCH COST PLUS 15%. IN ADDITION, THERETO, OPERATOR SHALL CHARGE $63.00 PER MAN-HOUR. ALL VEHICLES AND EQUIPMENT SHALL BE CHARGED BY THE AMOUNT REFLECTED IN THE FOLLOWING TABLE. LABOR RATES ARE SUBJECT TO CHANGE ON AN ANNUAL BASIS. EQUIPMENT RATES PER HOUR AIR COMPRESSOR $42.00 BACKHOE $80.00 VACTRON $70.00 VEHICLE $47.00 OPERATOR $63.00 HUTCHINSON UTILITIES COMMISSION��` Board Action Form �r�turscti mmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm Agenda Item: Replace 2010 Dodge Dakota Presenter: Dave Hunstad Agenda Item Type: Time Requested (Minutes): 5 New Business Attachments: Yes BACKGROUND/EXPLANATION OFAGENDA ITEM: As part of the Fleet Management Program the 2010 Dodge Dakota is due for replacement. The original budget is for $35,000.00 to replace with another smaller truck, however they are not available on the State Contract. We are recommending a 2024 F-150 from the Minnesota State Contract #169665 for $44,500.92. This will result in a $9,500.92 increase to the budget. Attachments: Midway Ford Quote Req. 9733 BOARD ACTION REQUESTED: Approve Req# 9733 Fiscal Impact: $44,500.92 Included in current budget: Yes Budget Change: Yes PROJECT SECTION: Total Project Cost: Remaining Cost: HUTCHINSON UTILITIES ra,�itiaa° oni'initIIIEwasrioI'll MIDWAY FORD COMMERCIAL 2777 N SNELLING AVE ROSEVILLE, MN 55113 Note Description: 2024 F150 FTM8 State Contract 169665 PURCHASE REQUISITION HUTCHINSON UTILITIES COMMISSION 225 MICHIGAN ST SE HUTCHINSON, MN 55350 Phone:320-587-4746 Fax:320-587-4721 Date Requisition No. 11 /08/2023 009733 Required by: Requested by: dhunstad Item No. Part No. Description Qty Unit Due Date Unit Price Ext. Amount 2024 F150 FTM8 STATE CONTRACT 169665 - MFG. PART: 1 1.00 EA $41,656.570 $41,656.57 Total: 41,656.57 Tax: 2,844.35 Total: 44,500.92 Date Printed: 11/08/2023 Requisitioned By: dhunstad Page: 1/1 Midway Ford Commercial Fleet and Government Sales 2777 N. Snelling Ave. Roseville MN 55113 FTM8 Contract # 169665 2024 F-150 4X4- Super Cab- 6.5' Box X1 L Automatic Transmission Air Conditioning AM/FM Radio Matching Full Size Spare Tire Sync Cruise Control 40/20/40 Vinyl Seat Dual Front Air Bags 4-Wheel ABS Brakes Tilt Wheel Power Windows Travis Swanson 651-343-5212 tswansonp_rosevillemidwayford.com 2.7L Ecoboost V6 Rubber Floor Covering Bumpers w/Rear Step Rear View Camera Power Locks Options Code Price Select Exterior Colors Code Select Tow Hual Package 53T $715 X Blue Jeans Metallic N1 Platform Running Boards 18B $228 X Race Red PQ Stone Gray Metallic LQ Shadow Black G1 Magnetic Metallic J7 Ingot Silver Metallic UX Oxford White YZ X Extended Service Contracts Cost Select 7 year/75,000 mile PremiumCare Warranty (Bumper to Bumper) $3,200 Option Total $943 You must have a active FIN code to participate in this purchase contract : FIN code # 1 Purchase Order required prior to order placement PO # Hutchinson Utilities Commission Base Price Totals Options Price Totals Extended Warranty Transit Impr Excise Tax Tax Exempt Lic 6.875% Sales Tax Document fee Sub total per vehicle Number of Vehicles $40,429.32 $943.00 $20.00 $64.25 $2,844.35 $200.00 $44,500.92 1 Name of Organization 225 Michigan St SE Address Hutchinson MN 55350 Grand Total for all units $44,500.92 City, State, Zip Dave Hunstad Acceptance Signature Contact Person/ Phone # ldhunstadp_hutchinsonmn.gov Print Name and Title Date Contact's e-mail address and fax # HUTCHINSON UTILITIES COMMISSION��` Board Action Form �r�turscti mmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm Agenda Item: Replace 2012 Dodge Ram Presenter: Dave Hunstad Agenda Item Type: Time Requested (Minutes): 5 New Business Attachments: Yes BACKGROUND/EXPLANATION OFAGENDA ITEM: As part of the Fleet Management Program the 2012 Dodge Ram is due for replacement. We are recommending a 2024 F-250 FTM24 from the Minnesota State Contract #169665. We have $55,000.00 budgeted for 2023 and the State Contract price is $49,784.09. Attachments: Midway Ford Quote Req. 9734 BOARD ACTION REQUESTED: Approve Req# 9734 Fiscal Impact: $49,784.09 Included in current budget: Yes Budget Change: No PROJECT SECTION: Total Project Cost: Remaining Cost: HUTCHINSON UTILITIES ra,�itiaa° oni'initIIIEwasrioI'll MIDWAY FORD COMMERCIAL 2777 N SNELLING AVE ROSEVILLE, MN 55113 Note Description: Ford F250 FRM24 State Contract 169665 PURCHASE REQUISITION HUTCHINSON UTILITIES COMMISSION 225 MICHIGAN ST SE HUTCHINSON, MN 55350 Phone:320-587-4746 Fax:320-587-4721 Date Requisition No. 11 /08/2023 009734 Required by: Requested by: dhunstad Item No. Part No. Description Qty Unit Due Date Unit Price Ext. Amount FORD F250 FRM24 STATE CONTRACT 169665 - MFG. PART: 1 1.00 EA $46,599.890 $46,599.89 Total: 46,599.89 Tax: 3,184.20 Total: 49,784.09 Date Printed: 11/08/2023 Requisitioned By: dhunstad Page: 1/1 Midway Ford Commercial Fleet and Government Sales 2777 N. Snelling Ave. Roseville MN 55113 FTM24 Contract # 169665 2024 F250 4X4- Super Cab- 8' Box Automatic Transmission Dual Front Air Bags AM/FM Radio Tow Hitch Tilt Wheel Sync Power Windows 40/20/40 Vinyl Front Seat Standard Base Upholstery 4-Wheel ABS Brakes Air Conditioning LT245/75r17 E All Season Tires Cruise Control Power Locks Travis Swanson 651-343-5212 tswansonp_rosevillemidwayford.com Front Tow Hooks Rubber Floor Covering Black Bumpers w/Rear Step Matching Full Size Spare Tire 6.8L V8 Rear View Camera Brake Controller Options Code Price Select Exterior Colors Code Select Platform Running Boards 18B $405 X Antimatter Blue Metallic HX Race Red PQ Stone Gray Metallic D1 Agate Black UM Carbonized Gray Metallic M7 Iconic Silver Metallic JS Oxford White Z1 X Extended Service Contracts Cost Select 7 year/75,000 mile PremiumCare Warranty (Bumper to Bumper) $3,400 Option Total You must have a active FIN code to participate in this purchase contract : FIN code # 1 Purchase Order required prior to order placement PO # Hutchinson Utilities Commission Base Price Totals $45,910.64 Options Price Totals $405.00 Extended Warranty Transit Impr Excise Tax $20.00 Tax Exempt Lic $64.25 6.5% Sales Tax $3,184.20 Document fee $200.00 Sub total per vehicle $49,784.09 Number of Vehicles 1 Name of Organization 225 Michigan St SE Address Hutchinson Minnesota 55350 Grand Total for all units $49,784.09 City, State, Zip Dave Hunstad Acceptance Signature Contact Person/ Phone # ldhunstadp_hutchinsonmn.gov Print Name and Title Date Contact's e-mail address and fax # HUTCHINSON UTILITIES COMMISSION��` Board Action Form �r�turscti mmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm Agenda Item: City of Hutchinson LED St Light Conversion Presenter: Dave Agenda Item Type: Time Requested (Minutes): 5 New Business Attachments: Yes BACKGROUND/EXPLANATION OFAGENDA ITEM: During our 2021 Strategic Planning process Hutchinson Utilities Commission agreed to fund materials and labor for the City of Hutchinson's LED St Light conversion project. We plan to convert an overage of 220 lights per year. Hutchinson St Light count: Total Lights = 2,022 Total Converted to LED = 980 Total Remaining = 1042 The purchase order is for the third year of LED fixtures that are scheduled for delivery in February. This project is part of our 2024 Capital budget and we will not be invoiced for them until we receive them in 2024. BOARD ACTION REQUESTED: Approve Req 9735 Fiscal Impact: $173,171.92 Included in current budget: Yes Budget Change: No PROJECT SECTION: Total Project Cost: Remaining Cost: HUTCHINSON UTILITIES ra,�itiaa° oni'initIIIEwasrioI'll Note PURCHASE REQUISITION HUTCHINSON UTILITIES COMMISSION 225 MICHIGAN ST SE HUTCHINSON, MN 55350 Phone:320-587-4746 Fax:320-587-4721 BORDER STATES ELECTRIC SUPPLY PO BOX 1450 NW 7235 MINNEAPOLIS, MN 55485 Description: LED Fixtures Conversion Date Requisition No. 11 /09/2023 009735 Required by: Requested by: dhunstad Item No. part No. Description Qty Unit Due Date Unit Price Ext. Amount GVD3P3030KMVOLTMSGL3 GRANVILLE III MFG. 1 PART: 230.00 EA $714.290 $164,286.70 DLL127 1.5 J50 PHOTO EYE - MFG. PART: 2 220.00 EA $22.220 $4,888.40 Total: 169,175.10 Tax: 11,139.72 Total: $173,171.92 Date Printed: 11/09/2023 Requisitioned By: dhunstad Page: 1/1 BORDER STATES Border States Electric - ABV 11927 53rd Street NE Albertville MN 55301-3964 Phone: 763-497-6800 HUTCHINSON UTILITIES COMMISSION 225 MICHIGAN ST SE HUTCHINSON MN 55350-1905 Quote Page: 1 of 1 BSE Quote: 27266962 Sold -To Acct #: 5004 Valid From: 10/30/2023 To: 11/06/2023 Payment Terms: Net 25th prox Created By:.larid Schmidt Tel No: 763-497-6816 Fax No: Inco Terms: PPA PREPAID & ALLOW FREIGHT Ship -to: HUTCHINSON UTILITIES COMMISSION 225 MICHIGAN ST SE HUTCHINSON MN 55350-1905 Cust Item BSE Item Material Quantity Price Per UoM Value MFG - Description 000010 220 EA 714.29 / 1 EA 157,143.80 - GVD3P3030KMVOLTMSGL3 - Granville III LED Estimated Lead Time: 30 days 000020 220 EA 22.22 / 1 EA 4,888.40 - DLL127 1.5 J50 - Photo Eye Estimated Lead Time: 30 days Total $ 162,032.20 State Tax $ 6.875 % 1 1 ,139.72 County Tax $ 0.000 % 0.00 Local Tax $ 0.000 % 0.00 Other Tax1 $ 0.000 % 0.00 Other Tax2 $ 0.000 % 0.00 Other Tax3 $ 0.000 % 0.00 Tax Subtotal $ 6.875 % 11,139.72 Net Amount $ 173,171.92 To access BSE's Terms and Conditions of Sale, please go to https://www.borderstateselectric.com The quoted sales tax is an estimate only based upon the information provided in this quote and will be finalized at the time of Invoice based upon the material purchased, quantity purchased, and delivery location. Shipping and handling fees in this quote are an estimate only and will be finalized at the time of Invoice. All clerical errors contained herein are subject to correction. In the event of any cost or price increases from manufacturers or other suppliers, caused by, but not limited to, currency fluctuations, raw material or labor prices, fuel or transportation cost increases, and any import tariffs, taxes, fees, or surcharges, BSE reserves the exclusive right to change its pricing at the time of shipping and will provide notice of any such change to its customers prior to costs being incurred.