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HomeMy WebLinkAboutBradley Lake PMC Meeting 12-10-97 Teleconference @ AIDEAi ALASKA INDUSTRIAL DEVELOPMENT AND EXPORT AUTHORITY = ALASKA @E™ =ENERGY AUTHORITY 480 WEST TUDOR ANCHORAGE, ALASKA 99503 907 / 269-3000 FAX 907 / 269-3044 ALASKA ENERGY AUTHORITY BRADLEY LAKE PROJECT MANAGEMENT COMMITTEE DECEMBER 10, 1997 EXCERPT FROM UNAPPROVED MINUTES 6. NEW BUSINESS A. Bond Pricing Mr. Griffith briefed the committee regarding phone conversations with Senator Murkowski’s legislative director, Alexander Polanski. He stated Mr. Polanski will be drafting up a letter for Senator Murkowski’s signature clarifying the issue on Senate Bill 1483. He requested the meeting be recessed to December 12, 1997 at 10:00 a.m. Hearing no objection, Chairman Bjornstad recessed the meeting to December 12, 1997 at 10:00 a.m. auny VMe Cihon Secretary Engen Nestl _ ALASKA INDUSTRIAL DEVELOPMENT = * AND EXPORT AUTHORITY {= ALASKA i =ENERGY AUTHORITY 480 WEST TUDOR ANCHORAGE, ALASKA 99503 907 / 269-3000 FAX 907 / 269-3044 BRADLEY LAKE PROJECT MANAGEMENT COMMITTEE MEETING AGENDA TELECONFERENCE Wednesday, December 10, 1997 — 10:00 a.m. Alaska Industrial Development and Export Authority Board Room — 480 West Tudor Road 1. CALLTOORDER -~ Bjornstad 2: ROLL CALL (for Committee members) ~~ 3. PUBLIC ROLL CALL (for all others present) a 4. PUBLIC COMMENT -~ 5: AGENDA COMMENTS a 6. NEW BUSINESS A. Bond Pricing _—» Griffith 1 COMMITTEE COMMENTS A. Next Meeting Date Bjornstad 8. ABYOURNMENT 2. Less Bradley Lake PROJECT MANAGEMENT COMMITTEE MEETING i 10. 799F (Date) Petecartorence (ALLEN (Location) PLEASE SIGN IN No. NAME REPRESENTING 1 tatyia- vy w= [| AEA 2 | CLennis Ae Coho a AEA oie ee 92Q2\IT9884 BMC “Teleconference a —| 4 -Convene i ZG 10:00 o.m. Vio telecontevence i Star 10-00 | Evud 10:10 | Coeve. Bjorsbed Ce he - < acy Ate —y Via phere te relly > Vio Dhove uf Meena Keble > /o Pleve Bex by orn dv > . -Tbeb Hofmear > AEG+T - phere Wt Norm Story > “Ae Wl bd - Pho tI Bol - Phew Tee Oni ffitl, CEK - Phere li Kee Vassar, WAITEB - Pk Dlorw , Gobina- . Voto hear - Neh - Pho | Motion +5 “UL kpia 2 Crore lO; ‘00 Pridogy Meromsrg te. anctle. Conf. aoll occ ssa “=o (0:10 am. | ‘odill He Cone = He [a @ 10:00 | . Cleaned w/ pperacbor- fan +e lines . 1 xtiow | ar Chior’ —~. 60° 5 we RESOLUTION NO. 97- CONFIRMING RESOLUTION OF THE BRADLEY LAKE PROJECT MANAGEMENT COMMITTEE RELATING TO FORWARD BOND PURCHASE AGREEMENT WHEREAS, the Bradley Lake Project Management Committee adopted the Approving Resolution of Bradley Lake Hydroelectric Project, Project Management Committee on December 9, 1997 ("Approving Resolution"); and WHEREAS, the Alaska Energy Authority ("Authority")has_ 2% 4 én74er_entered into the Forward Delivery Bond Purchase Agreement with Goldman Sachs & Co. and agreed to interest costs on Refunding Bonds pursuant to such Agreement; and J ~&<'ry WHEREAS, the purpose of this resolution is to confirm and ratify the Approving Resolution and the actions, taken by the Authority to execute the Forward Bond Purchase Agreement; Nhe be NOW, THEREFORE, BE IT RESOLVED by the Bradley Lake Project Management Committee that the actions takén by the Authority to execute the Forward Bond Purchase Agreement with Goldman Sachs & Co. are apprord, confirmed and ratified. ae le ADOPTED this oth day of December, 1997. PROJECT MANAGEMENT COMMITTEE Chairman Attest: Secretary LGH\1087igh.doc ALASKA INDUSTRIAL DEVELOPMENT = » ¢ AND EXPORT AUTHORITY = ALASKA @™E™ =ENERGY AUTHORITY 480 WEST TUDOR ANCHORAGE, ALASKA 99503 907 / 269-3000 FAX 907 / 269-3044 BRADLEY LAKE PROJECT MANAGEMENT COMMITTEE MEETING AGENDA TELECONFERENCE Wednesday, December 10, 1997 — 10:00 a.m. Alaska Industrial Development and Export Authority Board Room - 480 West Tudor Road 1. CALLTOORDER .~ Bjornstad 2. ROLL CALL (for Committee members) -~ 3. PUBLIC ROLL CALL (for all others present) a 4. PUBLIC COMMENT «~~ 5. | AGENDA COMMENTS .~ 6. NEW BUSINESS A. Bond Pricing _—- Griffith G COMMITTEE COMMENTS A. Next Meeting Date Bjornstad . > : ABIJOURNMENF fe Cecs Bradley Lake PROJECT MANAGEMENT COMMITTEE MEETING ¢ Leoenber 40 J99F (Date) © (Location) PLEASE SIGN IN No. NAME =I REPRESENTING 2 | Lennss file Chi AEA 3 22 92Q2\IT9884 Agenda Item No. CITY OF SEWARD MATANUSKA ELEC ASSOC CHUGACH ELEC ASSOC HOMER ELEC ASSOC GOLDEN VAL ELEC ASSOC MUNI LIGHT & POWER ALASKA ENERGY AUTHORITY A=4+ OVER 51% B= AEA CONCUR With A BRADLEY PMC VOTING He loll oll YES ABS YES NO DATE: A6W/ ABS YES NO ABS 01% Poe ma pase Ata Bed 30% OAT 1 126 | Aa ee ||| | Ee 7s A) | 2% Ete] Exess) |) eke C = UNANIMOUS D= MAJORITY VOTING METHOD A: Requiring four yeas with 51% of utilities, with no AEA vote: 1) Procedures for scheduling, production and dispatch of project power. 2) Establishment of procedures for use of each purchaser's water allocation (AEA assent required for license requirements). 3) Selection among alternative methods that do not involve AEA for funding required project work. VOTING METHOD B: Requiring 4 yeas with 51% of utilities and AEA concurrence: 1) Arranging operation and maintenance of project. 2) Adoption of budget of annual project costs. VOTE(93Q3/BC5272) 3) Establishment of FY estimated annual payment obligation and schedule of each purchaser. 4) Determination of annual project costs after each FY. 5) Evaluation of necessity for and scheduling of required project work. 6) Determination of appropriate amount of insurance. 7) Adoption of additional minimum funding amounts for renewal and contingency reserve fund above that required by bond resolution. 8) Selection among alternate methods that involve AEA for funding required project work. 9) Adoption or amendment of procedural committee rules (except dispute resolution). 10) Adoption of project maintenance schedules. 11) Determination of rules, procedures and accounts necessary to manage project when no bonds outstanding. 12) Evaluation and approval of optional project work and compensation for such work. 13) Application of insurance claims proceeds not governed by bond resolution. 14) Approval of procedures and any individual utility agreements relating to electric power reserves for project. 15) Approval of consultants. VOTING METHOD C: Unanimous vote by all (including AEA) VOTING METHOD D: Majority vote (including AEA) Election of Officers