King County Water District 90

The agenda for this meeting includes reviewing and approving the agenda, allowing for public comment, addressing action items such as reviewing bids and awarding a contract for the Well No. 4 Submersible Well Pump & Column, and reviewing vouchers. Financial reports for December 2025 are scheduled for review, covering monthly receipts, residential consumption data (CCFs and dollar amounts), and year-to-date capital budget status against actuals, along with long-term project costs. Manager's reports, including a memo, an operations manager memo with media, and a quote for a Ford Maverick, are also listed for discussion.

The resolution provides for an increase and changes in the current water rates and administrative charges. It adopts a Schedule of Charges, setting forth the water rates for residential accounts, government accounts, school accounts, commercial accounts, mobile home park accounts, irrigation rate accounts, and commercial fire sprinkler rates, together with miscellaneous administrative charges as authorized by the Board.

The resolution focuses on adopting financial management policies for the district. It covers various aspects including general policies, revenue policies, rate setting, bank accounts, expenditure policies, operating budget policies, capital management, accounting, debt, communication, compliance, investment, reserve, and fraud policies. The goal is to promote financial integrity, provide guidance, ensure long-term financial health, maintain capacity for services, provide relevant financial information, maintain transparency, promote strategic thinking, and employ best management practices.

The resolution authorizes the District's participation in a group of utilities to negotiate revisions to the wholesale contract with Seattle Public Utilities (SPU). It also approves retaining FCSG, Inslee Best, and Jonson & Jonson for assistance in these negotiations. The District Management is authorized to expend up to $5,000.00 to fund a share of consultant costs and is authorized to execute the attached agreements on behalf of the District.

The resolution discusses the issuance of water revenue bonds for financing and refinancing capital improvements, including water main improvement projects. It covers various aspects such as the authorization and description of bonds, redemption and purchase terms, registration, exchange, and payments, as well as the establishment of funds and accounts. Additionally, it includes covenants related to maintenance, operation, rate establishment, and tax compliance to ensure the financial stability and regulatory adherence of the district's water system.