Black Hills Corporation_Aquila Transfer of Franchise LetterTM
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Telephone: (402)221-2000
August 28, 2008
Mayor Roy Buol
City of Dubuque
50 West 13th Street
Dubuque, Iowa 52001
Re: Ordinance No. 43-43 dated 7-19-93 by and between the City of Dubuque,
Iowa and Black Hills/Iowa Gas Utility Company, LLC d/b/a Black Hills Energy
formerly known as Aquila, Inc. d/b/a Aquila Networks (the "Franchise")
Dear Mayor Buol:
On February 6, 2007, Aquila, Inc. ("Aquila") entered into an Asset Purchase Agreement (the
"APA") and Partnership Interests Purchase Agreement (the "PIPA") under which Aquila agreed to
transfer its gas utility operations in Colorado, Iowa, Kansas, and Nebraska and its electric utility
operations in Colorado to Black Hills Corporation or a subsidiary thereof ("Black Hills"). The
transaction contemplated by the APA and PIPA closed on July 14, 2008.
As of the closing of the transaction and subject to the terms and conditions of the APA and
PIPA, Aquila assigned the Franchise to Black Hills/Iowa Gas Utility Company, LLC, and Black Hills
assumed Aquila's obligations under the Franchise. In conjunction therewith, Black Hills will continue
to serve the City of Dubuque under the Franchise.
Please contact me at your convenience if you have any questions or concerns regarding the
foregoing.
Sincerely,
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Glynda Rahn ~ C
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Associate Attorney
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Marvin Oppedal D
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625 Ninth Street • P.O. Box 1400 • Rapid City, South Dakota 57709 • www.blackhillscorp.com