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County deliberates strong financial-assurance ordinance for CEI Hub; amendments pass but first reading fails
Summary
Commissioner Myron sponsored an ordinance to require financial assurance (risk bonds) for facilities in the Critical Energy Infrastructure Hub. After extensive invited testimony and public comment, board amendments aligning parts of the draft with Washington state's approach were adopted, but the first reading of the ordinance failed on a 2-2 vote; commissioners voiced divided views on timing, penalties, caps and enforceability.
The Multnomah County Board considered a first-reading ordinance that would require certain facilities in the Critical Energy Infrastructure (CEI) Hub to demonstrate financial assurance to cover costs and damages from large fuel releases, including those resulting from a Cascadia-scale earthquake.
Commissioner Myron introduced a set of amendments to align the county's draft with Washington state's risk-bonding approach. Key amendment elements adopted on the motion included a per-barrel multiplier for calculating assurance, an upper cap on financial assurance, and an increase in civil penalties for violations in the red-line version posted to the county…
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