Information

Type: Deliberation

Department: BOCC - Board of County Commissioners

Directors' Update: Oct. 9, 2019

Business Meeting: Oct. 14, 2019

Summary:

Approving an amendment to the agreement Between Lewis county and the City of Tacoma, Department of public utilities, light division, Also known as Tacoma Power

Publications:

Cover Letter To: Please send one original of the signed agreement to: Tacoma Power Attention: Keith Underwood 3628 South 35th Street Tacoma, WA 98409-3195

Additional Copies To: Rodney Reynolds

Resolution

WHEREAS, by Resolution the Lewis County Board of County Commissioners approved Resolution No. 00-122 on March 23, 2000 an Agreement between Lewis County and Tacoma Power; and

WHEREAS, the Agreement between Lewis County and Tacoma Power established payments to be made by the City of Tacoma to the County under RCW 35.21.425 et seq. ("Mitigation Payments"), and to set forth other obligations of the Parties related to Tacoma Power's Cowlitz River Hydroelectric Project; and

WHEREAS, the Portland-Salem CPI-U Consumer Price Index for determining the escalation rate of payments identified in Section 15 of the Agreement was discontinued in January 2018 by the US Bureau of Labor and Statistics; and

WHEREAS, Tacoma and the County have analyzed the Consumer Price Index performance trends from 2009-2017 in the Region; and

WHEREAS, Tacoma has proposed the West Size Class A CPI-U as a replacement Consumer Price Index for determining the escalation rate of payments identified in the Agreement; and

WHEREAS, Tacoma will reconcile the payments due under the Agreement with the West Class A CPI and to use this CPI for future payment calculations throughout the remaining term of the Agreement; and

WHEREAS, the Parties have agreed to the proposed replacement Consumer Price Index for determining the escalation rate of payments identified in the Agreement.

NOW THEREFORE BE IT RESOLVED , in consideration of the mutual promises and obligations hereinafter set forth, the parties agree as follows:

 

1. The first sentence of the third paragraph of Section fifteen which reads:

“The escalation index shall be the Portland-Salem CPI-U.”

Is hereby deleted and replaced with the following:

“The escalation index shall be the West Class A CPI-U (CPI).”

This change shall apply retroactively to January 2018.

2. All other terms of the Agreement, are hereby ratified and shall remain in full force and effect, unaltered by this Amendment.

 ; and

NOW THEREFORE BE IT FURTHER RESOLVED by the Board of County Commissioners the proposed amendment  and replacement Consumer Price Index for determining the escalation rate of payments identified in the Agreement be approved..

DONE IN OPEN SESSION this 14th day of October, 2019.