Authorizing the City Manager to grant a License Agreement between The City of Laredo, Texas, a municipal corporation and Bestel USA, Inc., a Nevada Corporation, dated February 4, 2024 for the use of one (1) innerduct in the Juarez Lincoln Bridge and 566 linear feet of right-of-way. 1. Term of the agreement shall be for five (5) years commencing at 12:00 am, February 4, 2024 and terminating at 12:00 pm February 3, 2029. 2. Annual duct fee shall be $43,558.00 and will increase by five percent (5%) every year the license is in place. In addition to the duct fee, Licensee shall pay a thirteen dollar and 05/100 ($13.05) linear foot right-of-way fee of $7,386.30, and will increase by five percent (5%) every year. Total fees of $50,944.30 will be deposited into the General Fund-Telecommunications.

Final Readings Passed Introduced February 26, 2024

What this record is

Held by: Bestel USA, Inc
Amount: $51K
Runs until: February 3, 2029 2 years away date quoted from the award document
Type: contract
Field: Technology

Read automatically from the title of the official record. The source document below is authoritative.