ORDINANCE No. 176985

*Authorize Contract with David R. Jubb CPA JD for services related to negotiations with Enron for the acquisition of Portland General Electric. (Ordinance; waive Code Section 5.68)

The City of Portland ordains:

Section 1. The Council finds:

1.  Resolution No. 36093, adopted by Council on August 28, 2002, directed the Mayor and Commissioner of Public Works to enter into discussions with Enron Corporation and its creditors regarding Portland General Electric (PGE) to ensure that the citizens of Portland and northwest Oregon presently served by PGE receive reliable, stable and low-cost electric service.

2.  The City requires independent and expert assistance in negotiations with Enron surrounding the future of PGE.

3.  David R. Jubb has been selected to serve as the principal negotiator for the City’s acquisition team.

4.  The Council has directed the Bureau of Financial Services to adjust the Office of Management and Finance’s appropriation in the amount of $500,000 in the fall Budget Monitoring ordinance in support of anticipated expenses related to PGE negotiations.

NOW, THEREFORE, the Council directs:

a.  The Mayor and Auditor are hereby authorized to execute a contract in substantially the form attached hereto as Exhibit A.

b.  Section 5.68 of the City Code is hereby waived.

b.  The Mayor and Auditor are hereby authorized to draw and deliver warrants in an amount estimated to be $150,000.

Section 2. The Council declares that an emergency exists in order that there be no delay

in negotiations with Enron; therefore, this Ordinance shall be in force and effect

from and after its passage by the Council.

Passed by the Council, OCT 30 2992        GARY BLACKMER

 Auditor of the City of Portland

Mayor Vera Katz

Office of Finance and Administration        By /S/ Susan Parsons

TG:SM:JB             Deputy

October 30, 2002

BACKING SHEET INFORMATION

AGENDA NO. 1274-2002

ORDINANCE/RESOLUTION/COUNCIL DOCUMENT NO. 176985