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File #: 2009-0309    Version:
Type: Ordinance Status: Passed
File created: 5/11/2009 In control: Budget and Fiscal Management Committee
On agenda: 6/15/2009 Final action: 6/15/2009
Enactment date: 6/16/2009 Enactment #: 16554
Title: AN ORDINANCE determining the monetary requirements for the disposal of sewage for the fiscal year beginning January 1, 2010, and ending December 31, 2010, setting the sewer rate for the fiscal year beginning January 1, 2010, and ending December 31, 2010, and approving the amount of the sewage treatment capacity charge for 2010, in accordance with RCW 35.58.570; and amending Ordinance 12353, Section 2, as amended, and K.C.C. 4.90.010, and Ordinance 11398, Section 1, as amended, and K.C.C. 28.84.055.
Sponsors: Larry Gossett
Indexes: Sewage
Code sections: 28.84.055 - , 4.90.010 -
Attachments: 1. 16554.pdf, 2. 2009-0309 Fiscal Note.xls, 3. 2009-0309 Hearing Notice.doc, 4. 2009-0309 REVISED Staff Report.doc, 5. 2009-0309 Transmittal Letter.doc, 6. A. Wastewater Treatment Division Financial Plan for the 2010 Proposed Sewer Rate, 7. A. Wastewater Treatment Division Financial Plan for the 2010 Proposed Sewer Rate, 8. B. King County Wastewater Treatment Division General Assumptions for 2010 Sewer Rate Proposal Forecast, 9. B. King County Wastewater Treatment Division General Assumptions for 2010 Sewer Rate Proposal Forecast, 10. Staff Report 5-19-09 SR, 11. Staff Report 6-2-09
Title
AN ORDINANCE determining the monetary requirements for the disposal of sewage for the fiscal year beginning January 1, 2010, and ending December 31, 2010, setting the sewer rate for the fiscal year beginning January 1, 2010, and ending December 31, 2010, and approving the amount of the sewage treatment capacity charge for 2010, in accordance with RCW 35.58.570; and amending Ordinance 12353, Section 2, as amended, and K.C.C. 4.90.010, and Ordinance 11398, Section 1, as amended, and K.C.C. 28.84.055.
Body
BE IT ORDAINED BY THE COUNCIL OF KING COUNTY:
SECTION 1. Ordinance 12353, Section 2, as amended, and K.C.C. 4.90.010 are each hereby amended to read as follows:
A. Having determined the monetary requirements for the disposal of sewage, the council hereby adopts a ((2009)) 2010 sewer rate of thirty-one dollars and ninety cents per residential customer equivalent per month. Once a sewer rate ordinance becomes effective, the clerk of the council is directed to deliver a copy of that ordinance to each agency having an agreement for sewage disposal with King County.
B. The King County council approves the application of Statement of Financial Accounting Standards No. 71 (FAS 71) to treat pollution remediation obligations and the first year start-up costs after construction on new plants as regulatory assets, and establish a rate stabilization reserve for the purpose of leveling rates between years.
C. As required for FAS 71 application, amounts are to be placed in the rate stabilization reserve from ((2008 and 2009)) operating revenues and removed from the calculation of debt service coverage ((for 2008 and 2009)). The reserve balance shall be an amount at least sufficient to maintain a level sewer rate between 2009 and 2010, and shall be used solely for the purposes of: maintaining the level sewer rate in 2010; and if additional reserve balance is available, moderating future rate increases beyond ((the 2009-2010 period)) 2010. If the estimat...

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