Five years from the effective date of the agreement, and on each fifth anniversary of that date throughout the duration of the agreement, the commissioner shall provide a report to the committee on the advisability of (a) convening an adjustment board pursuant to Section 8.8.1 of the agreement for the purpose of seeking changes in the agreement, or (b) terminating the agreement. The report shall contain two sections. The first section shall recite relevant facts, including without limitation changes in laws, public regulations, economic conditions, or in the art or methods of providing electric energy and shall conclude with a recommendation to the committee on the advisability of transmitting a written demand for an adjustment board to consider the need for modification of the agreement or compact as to any issue other than term, municipal compensation, or municipal acquisition. The second section of the report shall recite current conditions in the financial markets, electric service rate levels and structures in comparable cities, and other factors that assist the commissioner in estimating the effect on ratepayers and on the city of terminating the agreement pursuant to Section 3.4(i) of the agreement, and shall conclude with a recommendation as to the advisability of so terminating the agreement. The committee shall vote on a motion to accept this report.
(Added Coun. J. 11-27-91, p. 10151)