McNary Fisheries Compensation Committee
On July 1st, 1991, Northern Wasco County People’s Utility District (District) and the Fisheries Agencies (Agencies) entered into a Settlement Agreement (SA) to require that the District provide funds for compensation of anadromous fish resource impacts arising from the construction and operation of the McNary Dam Washington Shore Fishway Attraction Water System Hydroelectric Project (Project). The SA was the result of the Federal Energy Regulatory Commission (FERC) request that the District and the Agencies work out a mutually satisfactory arrangement to mitigate for the impacts of the Project. The Agencies desired that these funds be deposited in an irrevocable Trust Fund to provide financial assurance that future fishery mitigation measures could be expeditiously implemented. The District agreed to provide the annual contribution to the Trust Fund.
On October 30, 1997, the FISHERIES MITIGATION IRREVOCABLE TRUST FUND (Trust Fund) was created. Prior discussions between the District and the Agencies resulted in all parties agreeing to the District being designated as both the Trustee and Trustor. Simultaneously with the creation of the Trust Fund, the Trustor transferred to the Trustee the initial sum of money. Each year since, on the first day of the new contract year, the Trustor has transferred to the Trust Fund the annual contribution, adjusted by an escalation quotient.