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File #: 2016-0233    Version: 1
Type: Ordinance Status: Passed
File created: 5/9/2016 In control: Budget and Fiscal Management Committee
On agenda: Final action: 6/20/2016
Enactment date: 6/20/2016 Enactment #: 18305
Title: AN ORDINANCE determining the monetary requirements for the disposal of sewage for the fiscal year beginning January 1, 2017, and ending December 31, 2017; setting the sewer rate for the fiscal year beginning January 1, 2017, and ending December 31, 2017, and approving the amount of the sewage treatment capacity charge for 2017, in accordance with RCW 35.58.570; and amending Ordinance 12353, Section 2, as amended, and K.C.C. 4A.670.100 and Ordinance 11398, Section 1, as amended, and K.C.C. 28.84.055.
Sponsors: Dave Upthegrove
Indexes: Sewage
Code sections: 28.84.055 - , 4A.670.100 - .
Attachments: 1. Ordinance 18305.pdf, 2. A. Wastewater Treatment Division Financial Plan for the 2017 Proposed Sewer Rate, 3. A. Wastewater Treatment Division Financial Plan for the 2017 Proposed Sewer Rate, 4. 2016-0233 transmittal letter.docx, 5. 2016-0233 2017 Monthly Sewer Rate and Capacity Charge Proposal - April 21, 2016 - Attachment to Transmittal Letter.pdf, 6. 2016-0233 MWPAAC Support Letter - Attachment to Transmittal Letter.pdf, 7. 2016-0233 fiscal note.xlsx, 8. 2016-0233 legislative review form.pdf, 9. Hearing Notice - Seattle Times 6-1-16.doc, 10. 2016-0233_SR_Wastewater Rate_FINAL.docx, 11. 2016-0233_ATT5_MWPAAC_Letter_to_Council_Chair_dated 4-27-16.docx, 12. 2016-0233_Handout_from_WTD_Sewer_Rates_Comparison_with_CPI.pdf, 13. 2016-0233_SR_dated_6-8-2016_Wastewater Rate_.docx, 14. Affidavit of Pub - Seatttle Times 6-1-16.pdf, 15. Areas of Inquiry from BFM Committee.docx, 16. Table of Cash Funding Comparison.pptx, 17. Moody's Sewer Bond Rating summary sheet.docx
Staff: Reed, Mike
Drafter
Clerk 04/21/2016
title
AN ORDINANCE determining the monetary requirements for the disposal of sewage for the fiscal year beginning January 1, 2017, and ending December 31, 2017; setting the sewer rate for the fiscal year beginning January 1, 2017, and ending December 31, 2017, and approving the amount of the sewage treatment capacity charge for 2017, in accordance with RCW 35.58.570; and amending Ordinance 12353, Section 2, as amended, and K.C.C. 4A.670.100 and Ordinance 11398, Section 1, as amended, and K.C.C. 28.84.055.
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BE IT ORDAINED BY THE COUNCIL OF KING COUNTY:
SECTION 1. Ordinance 12353, Section 2, as amended, and K.C.C. 4A.670.100 are each hereby amended to read as follows:
A. Having determined the monetary requirements for the disposal of sewage, the council hereby adopts a ((2016)) 2017 sewer rate of ((forty-two dollars and three)) forty-four dollars and twenty-two 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))) Statement No. 62 of the Governmental Accounting Standards Board (GASB-62) as it pertains to regulatory assets and liabilities to treat pollution remediation obligations and RainWise Program expenditures and strategic planning costs as regulatory assets, recovered ratably over the life of the underlying financing, and establish a rate stabilization reserve for the purpose of leveling rates between years.
C. As required for ((FAS 71)) GASB-62 application, amounts are to be placed in the rate stabilization reserve from operating revenues and removed from the calculation of debt service coverage. The reserve balance shall be an amount at least sufficient to maintain a level sewer rate between ((2015)) 2...

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