AN ORDINANCE relating to the City Light Department; changing the operation of the Rate Stabilization Account, and amending Seattle Municipal Code 21.49.086.G.
So thank you very much. The report of the Energy Committee. Please read item two. The Report of the Energy Committee. Agenda item number two Council Bill 118350 relating to the city light department, changing the operation of the rate stabilization account and amending the Seattle Municipal Code. 21.4 9.0 86g. The committee recommends the bill pass. Thank you. Council member so on. Thank you. Brian Burgess. This is an ordinance that will push back the effective trigger date for the rate stabilization account until January 1st, 2016. The reserves in the account have surpassed the upper boundary of under $25 million. But the Energy Committee has been told by Seattle City Light that this could be a temporary anomaly from the early melt of the snowpack this winter and that by the end of the summer this will correct itself. And if we did not push off the trigger date, we would likely have to go through the process of discussing a new rate ordinance which would become obsolete before it was finished. And therefore, the Energy Committee recommends that full council pass this council bill. Thank you. Questions or comments? Please call the roll on the passage of the bill. All right. All right. Rasmussen All right. So want. I. Back up? Will you call me back? I got it. Hi, Carol. Hi, President Burgess. Hi. Seven, seven. And favorite and opposed. Thank you. The bill passes and the chair will sign it. The Report of the Park Seattle Center Libraries and Gender Pay Equity Committee. Please read Item three.