Share to Facebook Share to Twitter Bookmark and Share
File #: 2018-0231    Version: 1
Type: Ordinance Status: Passed
File created: 4/30/2018 In control: Budget and Fiscal Management Committee
On agenda: 6/11/2018 Final action: 6/11/2018
Enactment date: 6/19/2018 Enactment #: 18745
Title: AN ORDINANCE determining the monetary requirements for the disposal of sewage for the fiscal year beginning January 1, 2019, and ending December 31, 2019; setting the sewer rate for the fiscal year beginning January 1, 2019, and ending December 31, 2019, and approving the amount of the sewage treatment capacity charge for 2019, 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: Disposal, Sewage
Code sections: 28.84.055 - , 4A.670.100 - .
Attachments: 1. Ordinance 18745.pdf, 2. Legislative Review Form.pdf, 3. 2018-0231 Transmittal Letter.docx, 4. A. Wastewater Treatment Division Financial Plan for the 2019 Proposed Sewer Rate, 5. 2018-0231 Copy of Fiscal Note.xlsx, 6. 2018-0231 Issue Paperrevised (002).docx, 7. 2018-0231 MWPAAC Letter.pdf, 8. 2018-0231_SR_Executive Recommended 2019 Sewer Rate-Capacity Charge.docx, 9. 2018-0231_SR_date_05232018_Executive Recommended 2019 Sewer Rate-Capacity Charge.docx, 10. 2018-0231_ATT6_MWPAAC_Recommendation_Response.pdf, 11. 2018-0231 sewer rate notice - monetary requirements in Seattle Times 5/30/18, 12. 2018-0231 Affidavit of Pub -Seattle Times - published 5/30/18.pdf
Related files: 2023-0172
Staff: Reed, Mike
Drafter
Clerk 04/19/2018
Title
AN ORDINANCE determining the monetary requirements for the disposal of sewage for the fiscal year beginning January 1, 2019, and ending December 31, 2019; setting the sewer rate for the fiscal year beginning January 1, 2019, and ending December 31, 2019, and approving the amount of the sewage treatment capacity charge for 2019, 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.
body
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 ((2018)) 2019 sewer rate of ((forty-four dollars and twenty-two)) forty-five dollars and thirty-three 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 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 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 ((2017)) 2019 and ((2018)) 2020, and shall be used solely for the purposes of: mainta...

Click here for full text