Resolution No. 4549
City of Eugene
1997 No. 4511-4550
Resolution No. 4549
6/10/2010 4:47:20 PM
7/12/2006 1:29:18 PM
Warren G. Wong
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<br />RESOLUTION NO. 4549 <br /> <br />A RESOLUTION APPROVING ALTERNATIVE FORMULA FOR <br />CALCULATING SURPLUS EARNINGS PAYMENTS FROM THE EUGENE <br />WATER & ELECTRIC BOARD ON WHOLESALE ELECTRICITY SALES. <br /> <br />The City Council of the City of Eugene finds that: <br /> <br />A. On June 24, 1996 the City Council adopted Resolution No. 4490 approving <br />a temporary formula for calculating contribution in lieu of tax (Cll T) payments to the City <br />from the Eugene Water & Electric Board (EWEB) on wholesale electricity sales from 601<> <br />of gross revenues to 17% of net revenues for a trial period ending December 31, 1997. <br /> <br />B. Based on that trial period, it appears in the best interest of the City, EWEB, <br />and EWEB's customers to continue applying this new formula to wholesale electricity sales <br />until amended by EWEB and the Council. <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 <br />Council approves a change in the payments received from EWEB pursuant to Section <br />44(4) of the Eugene Charter of 1976 as they relate to contracts entered into between <br />EWEB and another power company, for sales for resale. Commencing January 1, 1998, <br />the formula to be applied to all such contracts entered into after the effective date of this <br />Resolution shall be seventeen percent of the net revenues from sales for resale. <br />Payments shall continue to be made at the seventeen percent rate until expiration of the <br />contract. <br /> <br />Section 2. The current 6% formula based on a percentage of gross revenues will <br />continue to apply to sales for resale entered into prior to June 24, 1996, to any contracts <br />for services where EWEB is not responsible for supplying power, to all existing contracts, <br />and to all retail sales. <br /> <br />Section 3. This Resolution shall become effective after the EWEB Board also <br />approves the change in payments, and the City Manager and EWEB General Manager <br />execute a Memorandum of Understanding consistent with the terms of this Resolution. <br /> <br />The foregoing Resolution adopted the 8th day of December, 1997. <br /> <br />J1 '-- fr/J' 7' <br /> <br />City Recorder <br />
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