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HomeMy WebLinkAbout1998-11-09 99-8 RESOLVECOUNCIL ACFIOtN - Item No— 99-8 _. Date; l-9-98 low'SubjecL RESOLVE, Appropriating Supplemental PERC Performance Credit and Cash Reserves Associated with the Poetry Deal Restructuring to the General Fwd Improvement Reserve Account Responsible Department: Administramn Commentary: In addition m the $328,607.75 recently received (Cowed Resolve 98410) by the City of Bangor from the todowited Review Committee due m the conuactmsiructunng involving PERC, Bangor -Hydro Electric Company and amerMwg Cbsdarcommodities, an additional $10,046.57 will be distributed to the City as well. This secondroundofdistributioos has occurred as Marion Towmhipelatednotmjoin u Usenew Parity Deal thus releasing slightly more then S63,500 to all other participating commodities. This will be the final distribution related to the Restructuring Agreement between the parties. Future distributions will be based upon performance credits related to plant operations and perfonnwce measures. M with Cowed Resolve 98-410, we recommend that these funds be appropriated to Ore City's General Fwd Improvement Reserve Account for future capital needs. Manager's Comments: d,gp4aett uu �t CityManager Associated Information: Resolve, Spreadsheet Calculation Budget Approval: n // Legal Approval: C(ry Solicitor Introduced for _Passage x First Reading and Referral to Finance Committee 11116®5Pon Page_of_ 3<Referrd 99-8 Assigned to Councilor Tyler November 9, 1998 CITY OF BANGOR Appropriating Supplemental PERC Performance Credit sail Cash (TITLE.)fbPy._...._...._.._....._......._.._.........._...._..._..._........._........._.............. _.......... Reserves Associated with the Parity Deal Restrurmring to the General B dImprovewrit Reserve Accomt B9 My Council OW gig afBaymr: R OLPED, the supplemental Penobscot Energy Recovery Company Performance Credit for the period January 1, 1998 to April 30,1998 and certain reserve funds held by PERC released as part ofdie Parity Deal Restructuring totaling $10,046.57 are hereby appropriated to the GeneralF d Improvement Reserve Account(#100-3572!00). IN CITY COUNCIL November 9, 1998 First Reading Referred to Finance Committee IN CITY COUNCIL Nosewer 23, 1998 Notim for Passage Made a Seceded Passed C 1Y CL 99-8 E E 5 0 L V E Appropriating Rupp leIDent el PERC Per- formance Credit and Cash Reserves As- sociated with the Parity Neal Destruct - wring to the General Fund Improvement Reserve Account 6�jpn. ri ALLOCAMN OF TRUE-UP FUNOS TO CHARTER MUNICIPALITIES ASM OiitWbuUUn a Excess C9s6 in R9aerlw scuae .12!3197 '. -.--. 11MEafive DgNOulo in OWMUM in 6F&ed E4ceen 50% ArUMI tons, CMrhr Mln SemM Reund FIM Addend Reserve 97 GAT nlm]ar9] Aldon_ E 245.31 E__$0 las E 8.023.85 0374% NO 738.31 Aide_ S 109.(4 3.5%.]3 .1W O% 280 _ - 33]81 Atdrsw E 45.08 E 1474.80 S 14]4.80 0098% 144 99.E5 Bal lb E 550.29 IF 0.848% 1.200 1.828.33 Bangor S 328.6%.]5 f 328,808.)5 15.330% Moo U588.H BIue HINSu E 388]9.42 E 3"8]9.42 172096 31000 3,12808 Booft�RRDD S 1,]1318 E %,035.48 E %.9%.H 2614% 4,500 Bradley E__]5482 E 5,M75A E 5,05].54 02%% 425 __4.81451 44.81 9ra4sr_ f 3.29554 4 1092. 1.]19 f 10],]92.18 .% 5029 8.000 8W8 M Bmokf f S 3.080.78 f 3.066.% 0.143% 258 251.14 Bramble -$-249 10 .18 i 8.150]8 S 6.150.78 "380% (40 71590 Ekickspod f %9.80 f 28.256.81 f 2"2%.51 1.318% 1750 1.819.43 BumMm f 198.03 f 847].4 S 0.47).4 0.302% %0 5]].82 Lmmel 3 317.62 E 10.%881 S 10.%881 0.485% I IN 1.034.58 Genal Pefidbrol 5 451.63 f 4,n3 U S 14.772.32 oaWfi 1 1.1% 1,38048 China _ f 40.37 S 1G.M.69 $ 16,Mai 1 0.]4]% t,%3 LBTTGa OliSon $ 106.38 S 3.0]9.% S 3,479.% 0.182% 308 2n28 Clinton E 853.11 E 2],9(4.13 E 27.904.13 1.302% 2.000 2,652.18 Dedham E 145.75 E 4178].35 E 4.]0].350232% 4W 3814] VoverPo)wnA E 639.54 E 2891827 E8978% 28818.2]1 91M 1.n5.% Edtl2ton E 330.33 E 10,8(4.52 S 10.6702 0.%4% sm Enfield E 25857 E 8,704.63 E 5,781.63 0,410% 700 _am.88 76055 Glenoum E 531.63 S 702000 E 1],38800 0.811% 1,3% 11596.02 Gould4om $ 28833 E 8.892.57 E "692.74 0.452% NO 809.81 Gm nOu E 182.41 E 3,34232 E 5,312ffi 0218% 375 511 M Guiffor8 S WAS f 17.891.(4 f 1],031,04 0.032% 1,400 1.565.80 �ndden f 12%.50 f 40454.02 f 40.0202 . 1.8"7% 3200 3522 W�rk f 287.32 E 6,397.88 1 f 9.38).% 0.438% 1,014 533.% Hennon I i 03188 f 28.8%.O] f 26,013M 1254% 1,805 251525 Hddeen 1 f 359.84 E 11,768.92 f 11.709.92 0.548% 1.050 %O.H Jedboni f 41% i 1,4:44.49 3 1.434.49 O.OB]% 1% 1(4.60 unuine f 159.87 f 5,222.% f 5,22.% 0.244% am 522.10 __ Lee _ f 14148 f -4M7 90 S 4,627.% 0215% 352 41040 L ra E 2n.40 f 9,073.37 f V.Ur6.6 I 0423% 579 032(4 uncon 3 1.32851 f 4345151 E 43.453b4 1202790' 3,WD 1,251.18 memo. 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S 18,58820 i 18,58820 am% 3.000 WeM GaehNr S 381.30 i 12548.89 f 12,548.83 O.MS% 1'05 1,061.09 WM6ua f 7,152.04 $ 3],88198 E 3).881.88 1130% 3,200 3,003]1 T0Tp1 $63,591]9000 f 2,%8.895.21 f 2.149.58LW 100.000% 11$,130 1 .003.58 __ Semntl Round FiniRwnG Total -T Am01n1 natation f 59,591.]9IE 2x1599521 S 14] TAO Cn4rM2 $ 53,581.30 20]9.89521 S 214]58).00