Title
Resolution authorizing a Cooperation Agreement between the City of Pittsburgh (“City”) and the Pittsburgh Water and Sewer Authority (“PWSA”) to implement a revised governance structure for the Pittsburgh Water and Sewer Authority and further authorizing an amendment to the 1995 Capital Lease Agreement to terminate PWSA’s option to purchase the leased property in 2025.
(Public Hearing held 7/18/18)
Body
Be it resolved by the Council of the City of Pittsburgh as follows:
Section 1. The Mayor, on behalf of the City of Pittsburgh, is hereby authorized to enter into a Cooperation Agreement with the Pittsburgh Water and Sewer Authority (“PWSA”) to implement a revised governance structure for PWSA, which contemplates a separately enacted ordinance establishing a City Board of Nominators to nominate potential candidates to serve on the Board of Directors of the PWSA, subject to requirements of applicable law.
Section 2. The Cooperation Agreement will also amend the 1995 Capital Lease Agreement to terminate PWSA’s option to purchase the leased property in 2025.
Section 3. Said Cooperation Agreement shall be in a form approved by the City Solicitor and shall, in addition to the terms and conditions specified herein, contain other terms and conditions that may be in the interest of the City.
Section 4. The proposed Cooperation Agreement is attached hereto as Exhibit A.
Section 5. Any revisions to the terms and conditions of the attached proposed Cooperation Agreement shall be resubmitted to City Council for its consideration. Once the Cooperation Agreement is negotiated by the City and PWSA, it shall not be finally executed until approved by a majority vote of City Council pursuant to an amendment to this resolution.
Section 6. Any future revisions to the Cooperation Agreement must be approved by a majority vote of City Council pursuant to an amendment to this resolution.