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<br />RESOLUTION NO. '63 ~ <br /> <br />A RESOLUTION APPROVING A CHANGE IN EWEB'S RATE OF <br />PAYMENT TO CITY RELATED TO TROJAN REVENUES. <br /> <br />The City Council of the City of Eugene finds that: <br /> <br />A. The City of Eugene (the City), Eugene Water & Electric Board (EWEB), and <br />Bonneville Power Administration (BP A) have been negotiating since July, 1995, to resolve the <br />issue of the appropriateness of BP A continuing to reimburse for EWEB' s contributions in lieu of <br />tax (CIL T) payments to the City related to the Trojan project, the operation of the plant having <br />been terminated. <br /> <br />B. In July, 1997, the City, EWEB and BPA agreed to recommend to their governing <br />bodies that a settlement of $2.25 million be approved. <br /> <br />C. It would be in the best interest of the City, EWEB and BP A to accept the <br />settlement. <br /> <br />NOW, THEREFORE, <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EUGENE, a <br />Municipal Corporation of the State of Oregon, as follows: <br /> <br />Section 1. Based on the above findings, which are hereby adopted, the City Council <br />approves, pursuant to section 44(4) of the Eugene Charter of 1976, a change in the "rates of <br />payment" related to the Trojan facility. EWEB no longer shall pay to City an amount equal to <br />3 % of the Trojan revenues. Instead, EWEB shall pay to City the amount of $2.25 million, as <br />follows: $1.15 million by October 1, 1997; $550,000 by July 1, 1998; and $550,000 by July 1, <br />1999. <br /> <br />Section 2. This Resolution shall become effective after the EWEB Board approves a <br />substantially similar resolution, and BP A formally has approved the settlement. <br /> <br />Section 3. Except as provided by this Resolution with respect to revenues derived from <br />the Trojan project, by Resolution 4490 for sales for resale, and the Agreement between the City, <br />EWEB, and Lane Electric Cooperative, Inc., EWEB's payments to the City pursuant to Section <br />44(4) of the Eugene Charter shall remain the same as they were at the time that Section 44(4) of <br />the Charter was adopted by the electorate. <br />~ <br />The foregoing Resolution adopted ~ ::: Of~ <br /> <br /> <br />City Recorder <br /> <br />, 1997. <br />