Search

Click Here to see previous Fax Alerts.

August 14, 1998

Year 2000 Problem Continues to Receive Considerable Attention

This week, U.S. Senator Jon Kyl (R-AZ) and the Senate Special Committee on the Year 2000 (Y2K) Technology Problem requested AMSA’s input on Senate Bill 2392, entitled Year 2000 Information Disclosure Act. The bill is intended to encourage the disclosure and exchange of information about computer processing problems and related matters in connection with the transition to the Year 2000. The bill attempts to allay fears within the business community regarding legal liabilities associated with the disclosure and exchange of information on Y2K compliance and readiness. Also, as reported in AMSA’s June 10 Special FaxAlert, the Senate Committee plans to conduct a number of hearings to determine the readiness of various industry/governmental sectors in addressing the Y2K problem. These hearings have been postponed, however, while the Committee proceeds with its legislation. It is expected that AMSA will be requested to provide testimony on behalf of the wastewater community once the hearings resume.

SEC Releases Interpretive Guidance on Year 2000

In a recent letter to AMSA, Securities and Exchange Commission (SEC) Chairman Arthur Levitt requested AMSA’s assistance in assuring that all state and local government issuers of municipal securities focus their attention on Year 2000 problems that may impact investors. The SEC recently issued an interpretive release that includes a section addressing issuers of municipal securities. The section entitled, Guidance for Year 2000 Disclosure for Municipal Issuers points out that "disclosure documents used by municipal issuers are subject to the prohibition against false or misleading statements of material facts; including the omission of material facts necessary to make the statements made. . . . Issuers of municipal securities and persons assisting in preparing municipal issuer disclosures are encouraged to consider whether such disclosures should contain a discussion of Year 2000 issues." The full release of SEC’s notice, Disclosure of Year 2000 Issues and Consequences by Public Companies, Investment Advisers, Investment Companies, and Municipal Securities Issuers is available at http://www.sec.gov/rules/concept/33-7558.cfm.

AMSA to Solicit Additional Member Input on Year 2000

On July 30, AMSA attended an EPA-sponsored meeting with other water and wastewater representatives to discuss Y2K activities within the industries. At the meeting, Dana Minerva, EPA’s deputy assistant administrator of the Office of Water, highlighted EPA’s commitment to provide assistance to the water and wastewater communities in identifying and addressing Y2K issues. Several issues regarding wastewater collection and treatment were discussed including: SCADA system vulnerability, embedded chips, electrical power requirements, reevaluation of local contingency planning activities, and human resources. The group also discussed recommendations concerning Y2K testing, meeting with electric utility representatives, and publicizing pilot tests of Y2K compliance within the water and wastewater sectors. To address some of the questions presented by the group concerning wastewater utilities, early next week AMSA will follow-up its June 10 Y2K survey with a supplemental Y2K survey. A final AMSA Year 2000 Survey Analysis will be released soon after the results of the supplemental survey are compiled. Your assistance in providing AMSA completed survey data will better enable us to provide a national view point of the wastewater industry’s readiness to address the Y2K problem.



» Time is running out to register for AMSA’s public affairs seminar, Risky Business . . . Effectively Communicating Risk, Reality & Reform, which is being held in Providence, RI on August 31-September 1. The seminar has an excellent line-up of speakers who will address a range of issues related to environmental risk communication, rate-payer outrage, biosolids acceptance, and competitive reengineering. AMSA members are encouraged to contact AMSA today (202/833-2672) to register and to reserve hotel accommodations.