SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

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                                    Form 8-K

                                 CURRENT REPORT



                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934



                                January 26, 1999
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                                (Date of Report)



                                   ITRON, INC.
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               (Exact Name of Registrant as Specified in Charter)

      Washington                      0-22418                      911011792
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(State or Other Jurisdiction    (Commission File No.)           (IRS Employer
         of Incorporation)                                   Identification No.)

                    2818 N. Sullivan Road, Spokane, WA 99216
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               (Address of Principal Executive Offices) (Zip Code)

                                 (509) 924-9900
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              (Registrant's Telephone Number, Including Area Code)
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                            Draft Disclosure for 8-K

Item 5.  Other Events


         New Bank Line Completed

         On January 19, 2000, the Company signed a credit agreement with General
Electric  Capital  Corporation  for a new four year  revolving line of credit to
replace its previous  revolving line of credit with two banks,  which would have
expired on January 31, 2000.  The  agreement is for a revolving  facility with a
maximum  availability  of $35  million,  the  same as  with  the  previous  loan
facility.  The approximately $9.7 million  outstanding under the prior facility,
which  included $ 6.4 million in letters of credit,  was repaid with  borrowings
under the new facility. The maximum amount of borrowings available under the new
facility is based on the amount of accounts  receivable,  inventory  and certain
outsourcing equipment. Borrowings are secured by accounts receivable, inventory,
cash receipts and outsourcing assets not otherwise separately financed. Interest
rates charged are comparable to those under the previous facility,  depending on
the form of  borrowing,  and vary based upon  published  rates and the financial
performance of the Company after 2000. Additionally, an annual commitment fee of
 .0375% is  required  on the  unused  portion  of the  available  balance  of the
revolving  line.  The agreement  contains  financial  covenants that require the
Company to equal or exceed  certain  minimum  EBITDA and fixed  charge  coverage
ratio levels as of the end of each quarter.  Subject to established  limits, the
new revolving  credit  facility allows the line to be used for the repurchase of
long-term debt and equity securities, and investments in outsourcing projects.