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HomeMy WebLinkAboutBPMC Teleconference - March 30, 1993Revised Action Nos. - September 7, 1993 BRADLEY LAKE PROJECT MANAGEMENT COMMITTEE APPROVED MEETING MINUTES RECORD WOPY March 30, 1993 FILE NO PRO Sh) an 3130/53 1. CALL TO ORDER i Vice Chairman Story called the Bradley Lake Hydroelectric Project Management Committee to order at 9:05 a.m. via teleconference, to conduct the business of the Committee per the agenda and the public notice. 2. ROLL CALL Alaska Energy Authority Brent N. Petrie, Designated Representative Chugach Electric Association Eugene Bjornstad, Alternate Representative Golden Valley Electric Association Mike Kelly, Designated Representative City of Seward Paul Diener, Designated Representative Homer Electric Association Norm Story, Designated Representative Matanuska Electric Association Ken Ritchey, Designated Representative Municipal Light & Power Tom Stahr, Designated Representative Others Present: Ron Saxton, Ater, Wynne, Hewitt, Dodson & Skerritt Tom Lovas, Chugach Electric Association Joe Griffith, Chugach Electric Association dburger\word\minutes\pmc\03-93-2 BPMC Teleconference Meeting Minutes March 30, 1993 Page 2 of 5 Ronald a. Garzini, Alaska Energy Authority David R. Eberle, Alaska Energy Authority Bruce Holmes, Alaska Energy Authority Denise Burger, Alaska Energy Authority 3. PUBLIC COMMENT There were no public comments. 4. AGENDA COMMENTS No changes were made to the agenda. 5. OLD BUSINESS A. Bradley Bond Refunding Update A memorandum summarizing Bradley bond refunding costs was faxed to the Committee members (Attachment 1). Mr. Petrie reported AEA met with its financial advisor and bond counsel, the bond underwriters, Mr. Saxton and a utility representative, Mary Ann Pease of AML&P, via teleconference the preceding week. It was the consensus of the attorneys that the proposed Bradley bond refunding was "defendable before the IRS" and that it would be prudent to proceed with the refunding. Mr. Petrie stated some opinions still remain to be written and will be distributed upon completion. Mr. Petrie noted that, in today's market, the present value savings of the bond refunding proposal would be about 4%, or $1.3 million. Citing the minimal savings, Mr. Petrie stated AEA would not recommend the refunding proposal under the current market conditions. It was, however, the consensus of those participating in the bond refunding discussion that AEA and the purchasing utilities should continue preparations for the refunding with the intent of being ready to take advantage of optimal market conditions when they occur. Mr. Petrie informed the Committee that, of the $25,000 authorized by the Committee on March 3, 1993 to proceed with the initial refunding steps, $13,600 had been spent. Additional costs through May 1, 1993 are estimated to be $41,500. Trading, travel, underwriting, rating costs, etc. will be incurred after May 1. Mr. Saxton dburger\word\minutes\pmc\03-93-2 BPMC Teleconference Meeting Minutes March 30, 1993 Page 3 of 5 clarified that the refunding costs could be capitalized. Mr. Petrie added that, if the bond sale was not completed, the costs would have to be absorbed by the Committee. Mr. Bjornstad inquired if AML&P had made any determination regarding the refunding. Mr. Stahr reported that the Municipality's bond counsel was reviewing the proposal made by Mr. Eric Wohlforth, AEA bond counsel. Mr. Stahr could not predict when the Municipality would make its decision and reminded the Committee that the Municipality's bond counsel was not likely to support the refunding without substantial savings (well over $100,000). Mr. Bjornstad asked what the minimal savings requirement was in order to make the refunding effort worth while. Mr. Petrie stated that, generally, a 3% savings was considered worth while, however, because of additional administrative costs associated with the refunding, a higher return of savings was needed. AEA would recommend proceeding with the bond refunding at a 5% savings. Mr. Petrie estimated a cost to AEA of $30,000/year to administer the refunding. Mr. Stahr requested a minimal savings of $130,000 as qualification to proceed with the refunding. Mr. Story recommended postponing a decision until AML&P finished evaluating the proposal. Mr. Petrie stated that, in order to proceed with the refunding, a decision was needed by the middle of April, otherwise closure could not be made by June 30. Mr. Petrie suggested that the utilities update their financial information (form to be provided by AEA) while waiting for AML&P's decision. The information would be needed for a document review meeting scheduled April 13, 1993. It was the consensus of the Committee that continuing with the refunding would require a minimum savings of $130,000 and the approval of AML&P, and that, in the meantime, the Committee members would update the necessary financial information (Action 93-158). In response to Mr. Stahr's question regarding the need for an engineer's report, Mr. Saxton stated that, according to Jim Seagraves, an engineer's report was not necessary. dburger\word\minutes\pme\03-93-2 BPMC Teleconference Meeting Minutes March 30, 1993 Page 4 of 5 6. NEW BUSINESS A. Approval of Bradley Lake FY94 O&M Budget Referring to the budget materials previously distributed by AEA (Attachment 2), Mr. Ritchey noted that the budget summary on page one included debt service for the year. Mr. Ritchey explained that the total included both the debt service and operations costs (subtotaled). Previously, only operations costs were presented to the BPMC. It was noted that the operations budget (pages two and three) was broken down by categories of the power sales agreement. Mr. Ritchey stated that, although the budget was presented in a different format, the contents of the budget remained very similar to previous budgets. Pages four, five and six provide a comparison of the budget proposed by AEA and the Budget Subcommittee's recommended budget. Mr. Ritchey pointed out that $417,244 for AEA administrative overhead costs were not included in the budget recommended by the Subcommittee. Mr. Ritchey explained that the Subcommittee's budget recommendation was made without the participation of AEA. Mr. Ritchey moved that the BPMC adopt the Subcommittee recommended total budget of $15,678,212! (which excludes AEA administrative overhead costs). The motion, seconded by Mr. Diener, failed by the following roll call vote:? City of Seward Yes Matanuska Electric Association Yes hugach Electric Association Yes Homer Electric Association Yes Golden Valley Electric Association Yes Municipal Light & Power Yes Alaska Energy Authority No _ (Action 93-159) Mr. Garzini objected to the proposed budget, stating it would adversely affect the operation of the Project. Mr. Garzini informed the Committee that AEA would file the alternate ' Corrected from $15,678,213. 2 As established by the Committee Bylaws, adoption of a budget requires approval of AEA and four utilities with a combined project share of 51%. dburger\word\minutes\pmc\03-93-2 BPMC Teleconference Meeting Minutes March 30, 1993 Page 5 of 5 budget, which includes AEA administrative overhead costs, with the trustee. Copies of the budget will be forwarded to the utilities. 7. COMMUNICATIONS A. Schedule Next Meeting Thursday, May 13, 1993 10:00 a.m. Chugach Electric Association 8. ADJOURNMENT The meeting adjourned at 9:45 a.m. David L. Highers, Chairman aww Lt Mets Brent N. Petrie, Secretary dburger\word\minutes\pmc\03-93-2 14. BRADLEY LAKE PROJECT MANAGEMENT COMMITTEE TELECONFERENCE MEETING AGENDA March 30, 1993 RECORD VOPY FILE NO 9:00 a.m. —fRo 3-t) min 3/30/43 CALL TO ORDER 9:00 a.m. Highers ROLL CALL PUBLIC COMMENT AGENDA COMMENTS OLD BUSINESS A. Bradley Bond Refunding Update Petrie NEW BUSINESS A. Approval of Bradley Lake FY94 O&M Budget Ritchey COMMUNICATIONS A. Schedule Next Meeting ADJOURNMENT ATTACHMENT 1 Alaska Energy Authority MEMORANDUM DATE: = March 30, 1993 TO: Bradley Lake Hydroelectric Project Project Management Committee FROM: Brent N. Petrie Manager/Planning and Project Development Alaska Energy Authority SUBJECT: Bradley Refunding Costs At its meeting, the Bradley Lake Project Management Committee authorized the expenditure of up to $25,000 to conduct research necessary to position ourselves for a partial refunding of Bradley Debt. As of March 29, 1993, the approximate billings against this authorization were: AEA Bond Counsel - Wohlforth et al $4,100 Bradley Utility Counsel - Ater Wynne, Hewitt Dodson & Skerritt $4,500 AML&P Counsel est. $5,000 Preston et al $13,600 Estimated additional costs to prepare the refunding through May 1 follow: AEA Bond Counsel - Wohlforth $10,000 Bradley Utility Counsel - Ater Wynne, Hewitt Dodson & Skerritt $10,000 AEA Financial Advisor - J.C. Bradford $9,500 AEA Staff $12,000 Total estimated additional costs through May 1 $41,500 Today (March 30) the estimated present value of savings on a refunding is $1.3 million or a little more than 4% of the refunded amount. If the committee desires to proceed an additional budget authorization of $40,000 is recommended. BNP;jd 93Q1\JD4566(1) Proposed Bradley Lake FY '94 Budget SUMMARY Debt Service Operations & Maintenance Insurance Project-Specific A & G PMC Costs Other Subtotal TOTAL $13,388,241 1 1,567,158 259,162 149,556 166,000 148,095 2,289,972 -$15,678,213 ATTACHMENT 2 BRADLEY LAKE BUDGET \AEA_PMC1.WK3.DT FY 1994 — PMC 03/24/93 PMG ACCT O&M | INSUR. | P.S.A&G|COSTPMC| OTHER | TOTAL NO. DESCRIPTION (A) (8) () (2) © Gy 1 2 | HYDRAULIC POWER GENERATION 3|535 OPERATION SUPER. & ENGIN. see Schedule 5 for PSA cost category distribution. 4 DIRECT 160,619 8,338| 28,260 o| 34,226 231,443 5 TRAVEL & TRAINING 16,000 16,000 6|537 HYDRAULIC OPERATION EXPENSES 7 CONTRACTS 56,296 56,296 8|538 ELECTRIC OPERATION EXPENSE 9 DIRECT 119,100 119,100 10 TRAINING 2,000 2,000 "1 CONTRACTS 30,000 30,000 12 SUPPLIES 7,000 7,000 13/539 HYDRAULIC PWR GEN. OP EXP 14 DIRECT 17,100 88,869 105,969 15 TRAVEL & TRAINING 4,000 4,000 16 CONTRACTS 290,000 290,000 17 SUPPLIES 20,000 20,000 18 | 540 RENTS 19 WAREHOUSE 6,500 6,500 20 FERC 85,000 85,000 21|542 MAINTENANCE OF STRUCTURES 22 SUPPLIES 3,000 3,000 23 EQUIPMENT 6,000 ji 6,000 24[544 MAINTENANCE OF ELECTRIC PLANT 25 DIRECT 193,800 193,800 26 TRAVEL 4,000 4,000 27 CONTRACTS 30,000 30,000 28 SUPPLIES 10,000 10,000 29 EQUIPMENT 30,000 | 30,000 30|545 MAIN. OF MISC. HYDRAULIC PLANT Fj 31 DIRECT 135,119 135,119 32 TRAVEL & TRAINING 3,000 3,000 33 CONTRACTS 25,000 25,000 34 SUPPLIES 25,000 25,000 35 EQUIPMENT [50,000 [ 50,000 36|556 SYS CONTROL & LOAD DISPATCHING 37 DIRECT 8,000 8,000 38 TRAVEL 4,000 4,000 39 CONTRACTS 205,720 205,720 40 EQUIPMENT 36,000 36,000 41 |_TOTAL HYDRAULIC PWR GEN EXP 1,525,958 3,338 | 84,556 0| 123,095 | 1,741,947 on . 43 | TRANSMISSION EXPENSES 44|562 BRADLEY JUNCTION SUBSTATION 45 CONTRACTS 2,200 2,200 46|571 MAINTENANCE OF OVERHEAD LINES 47 CONTRACTS 39,000 39,000 48 | TOTAL TRANSMISSION EXPENSES 41,200 0] 0 0 0 41,200 BRADLEY LAKE BUDGET \AEA_PMC1.WK3.DT FY 1994 — PMC 03/24/93 PMG ACCT O&M INSUR. | P.S. A&G|COST PMC OTHER TOTAL NO. DESCRIPTION (A) (B) (c) (D) © (F) 1 2| ADMIN, GENERAL & REGULATORY EXPENSES 3|920 ADMIN AND GENERAL EXPENSES 4 ADMINISTRATIVE (O.H. AND DIRECT) 18,000 18,000 5 BPMC (TRAVEL) 23,000 23,000 6 BPMC (SUBCOMMITTEE TRAVEL) 15,000 15,000 7 UTILITIES’ LEGAL (NOT RELATED TO PMC v AEA LITIGATION) 75,000 75,000 8 AEA BRADLEY LAKE LEGAL (NOT RELATED TO PMC v AEA LITIGATION) 25,000 25,000 9 TRUSTEE FEES 20,000 20,000 10 AUDIT 15,000 15,000 11 5 YEAR INSPECTION 15,000 15,000 12|924 INSURANCE 250,824 250,824 13|928 REGULATORY COMMISSION EXPENSE 50,000 50,000 14 TOTAL ADMIN, GEN & REG EXP |_| 250,824 | 65,000 | 166,000} 25,000] 506,824 | 15 TOTAL FY 1994 BRAD LAKE BUDGET 1,567,158 | 259,162] 149,556 | 166,000| 148,095| 2,289,971 BRADLEY LAKE COMPARISON OF AEA AND PMC BUDGET PROPOSAL FY 1994 PSA COST CATEGORY OPERATION & MAINTENANCE INS URANCE PROJECT—SPECIHED A&G PMc COSTS OTHER TOTAL SUMMARY BUDGET COMPARISON AEA PROPOSED 1,740,254 259,162 516,799 191,000 UTILITIES 1,567,158 259,162 149,556 166,000 148,095 2,289,971 7) SCHEDULE 3 P. 1 of 1 VARIATION (173,096) o (367,243) (25,000) 148,095 (417,244) \AEA_PMC1.WK3.DT 03/24/93 BRADLEY LAKE SCHEDULE 4 P. 1 of 2 COMPARISON OF AEA AND PMC BUDGET PROPOSAL \AEA_PMC1.WK3.DT FISCAL YEAR 1994 03/24/93 POWER SALES AGREEMENT COST CATAGORY: AEA PMC acct oam | INSUR. aaa |CosTPMc] OTHER | TOTAL Oam | INsUR. | P.8.AaG|CosTPMc| OTHER | TOTAL No. DESCRIPTION “9 ®) fe re ©) cy “ ®) @ 1) «) (_| | varwance 1 1 2 | HYDRAULIC POWER GENERATION 2 3|535 OPERATION SUPER. & ENGIN. s00 Schedule 5 for PSA cost category distribution. 3 4 DIRECT 194,845 | 6,338 28 260 231,443 160,619 6338 26,260 o 34,226 231,443 40) 4 5 TRAVEL & TRAINING | 16,000 16,000 16,000 | [1,900 o|s 6 | 537 HYDRAULIC OPERATION EXPENSES 6 7 CONTRACTS 56,296 56,296 56,296 56296 o|7 8 [538 ELECTRIC OPERATION EXPENSE 8 9 DIRECT 119,100 118,100 119,100 119,100 o;@ 10 TRAINING 2,000 2,000 2,000 2,000 0 }10 WwW CONTRACTS 30,000 30,000 30,000 30,000 oO} 12 SUPPLIES 7,000 7,000 7,000 7,000 0 |12 13 | 538 HYDRAULIC PWR GEN. OP EXP 13 4 DIRECT 105,969 105,969 17,100 88860 | 105,969 o}14 15 TRAVEL & TRAINING 4,000 | 4,000 4,000 4,000 0/15 18 CONTRACTS 290,000 200,000 | | 290,000 200,000 o|16 17 SUPPUES 20,000 20,000 20,000 20,000 0/17 18 | 540 RENTS 16 19 WAREHOUSE 6,500 6,500 6,500 6,500 o|18 20 FERC 85,000 85,000 85,000 85,000 0 |20 21 | 542 MAINTENANCE OF STRUCTURES 21 22 SUPPLIES 3,000 3,900 3,000 3,000 0 |z2 23 EQUIPMENT 6,000 6,000 6,000 6,000 0 /|23 24[544 MAINTENANCE OF ELECTRIC PLANT 24 25 DIRECT 193,800 193,800 193,800 193,800 o | 25 26 TRAVEL 4,000 400 400 4,000 0 |26 27 CONTRACTS 30,000 30,000 30,000 30,000 0|27 26 SUPPLIES 10,000 | 10,000 10,000 10,000 0 |26 20 EQUIPMENT 30,000 30,000 30,000 30,000 0 |28 30/545 MAIN. OF MISC. HYDRAULIC PLANT = 30 3 DIRECT 135,120 135,120 135,119 135,119 _(1)}31 32 TRAVEL & TRAINING 3,000 3,000 3,000 3,000 o|sz 33 CONTRACTS 25,000 | 25,000 25,000 4 25,000 o|33 34 SUPPLIES 25,000 25,000 25,000 25,000 0 |34 EQUIPMENT 50,000 50,000 50,000 50,000 0 |35 36 | 556 SYS CONTROL & LOAD DISPATCHING 36 37 DIRECT 8,000 8,000 8,000 8,000 0 \37 38 TRAVEL 4,000 4,000 4,000 4,000 0 }368 38 CONTRACTS 205,720 205,720 205,720 205,720 0 |398 40 EQUIPMENT 326,000 38,000.) |__ 38,000 38,000 o|40 41 | TOTAL HYDRAULIC PWR GEN EXP 1,648,054 6,338 84,556 o O| 1,741,048 1,525,958 6336 84,556 o 123,005 | 1,741,947 (1) 41 42 42 43 | TRANSMISSION EXPENSES “a 44| 562 BRADLEY JUNCTION SUBSTATION “4 “4 CONTRACTS 2,200 2,200 2,200 2,200 0|4 4|571 MAINTENANCE OF OVERHEAD LINES 48 a CONTRACTS 30,000 30,000 20 30 o}a7 48 | TOTAL TRANSMISSION EXPENSES 41,200 41,200 41,200 o o o o 41,200 o\48 BRADLEY LAKE SCHEDULE 4 P.2 of 2 COMPARISON OF AEA AND PMC BUDGET PROPOSAL \AEA_PMC1.WK3.DT FISCAL YEAR 1994 03/24/93 POWER SALES AGREEMENT COST CATAGORY: AEA PMC accT oam | insur. | P.8.aaa|CostTPMCc| OTHER | TOTAL oam | insur. | P.s.aaa|costPMc| OTHER | TOTAL NO. DESCRIPTION A _®) @ (2) «© _ “a @) (9 (2 ) _ VARIANCE 1 1 2 | ADMIN, GENERAL & REGULATORY EXPENSES 2 3|920 ADMIN AND GENERAL EXPENSES 3 4 ADMINISTRATIVE (O.H. AND DIRECT) 417,243 18,000 435,243, 18,000 18,000 | |_(417,243)| 4 5 BPMC (TRAVEL) 23,000 23,000 23,000 23,000 o|s e BPMC (SUSCOMMITTEE TRAVEL) 1 15,000 15,000 15,000 15,000 | ole 7 UTILITIES’ LEGAL (NOT RELATED TO PMC v AEA LITIGATION 75,000 75,000 75,000 75,900 o|7 8 AEA BRADLEY LAKE LEGAL (NOT RELATED TO PMC v AEA LITIGATION) 25,000 25,000 25,000 | _ 25,000 o|s ® TRUSTEE FEES 20,000 20,000 20,000 20,000 o|e 10 AUDIT 15,000 15,000 15,000 15,000 o|10 " 5 YEAR INSPECTION o}i 12 | 924 INSURANCE 0/12 13 REGULATORY COMMISSION EXPENSE o}i3 14 TOTAL ADMIN, GEN & REG EXP (raza) 14 15 TOTAL FY 1994 BRAD LAKE BUDGET (417,244)| 15 AEA PROPOSED BUDGET @ 3/8/93 2,682,855 ADD: ADJUSTMENT TO AEA LEGAL 25,000 LESS: ADJ TO ACCT 545, PCN 431 (40), FY 1994 BUDGET SHOWN ABOVE 2,707,215 Ver aus ae va.Lu0 WINN £60 VUTY ALBK WYNNE 4 14 001/002 ATER WYNNE wae " 222 SW. Cobsinbia HEWITT Poland, Oregon 97201-6618 (503) 226-1191 DODSON — & SKERRITT RECORD UOPY ATTORNEYS AT LAW FILE NO PRO Baht FACSIMILE TRANSMITTAL Wa NOTICE: This facsimile contains confidential information that is being transmitted to and is intended only for the use of the recipient named below. Reading, disclosure, discussion, dissemination, distribution, or copying of this information by anyone other than the named recipient or his or her employees or agents is strictly prohibited. If you have received this facsimile in error, please immediately destroy it and notify us by telephone, (503) 226-1191. CITY/STATE: _Anchorage, Alaska 0 PAX NUMBER: 007/50 05 ee OFFICE NUMBER: _907/561-7877 FROM: MS Gaston 8 DOCUMENT : a a 12; PAGES (INCL. COVER) 2 USAGE TIME CLIENT NUMBER: _53844-0019 BRENT: Unrelated to Bradley refinancing, I want 1/2 hour of your time on Tuesday or Wednesday. Let me know when it is convenient. Also, my trip to Seattle on Tuesday has been cancelled. Therefore, please call me in Portland for the 9:00 a.m. (Alaska time) conference call. Last week, Dee gave Terry our Seattle telephone number. Thanks, Ron 03/30/93 09:17 503 226 0079 Seattle, Washington (206) 623-4711 Fax (206) 467-8406 ATER WYNNE @002/002 Suite 1800 ATER-WYNNE 222 SW. Columbia HEWITT Ponte Oe (503) 226-1191 DODSON Fax (503) 226-0079 & SKERRITT ATTORNEYS AT LAW March 29, 1993 VIA_FACSIMILE Brent Petrie Alaska Energy Authority P.O. Box 190869 Anchorage, Alaska 99519-0869 Re: Fee Estimate for Bradley Bond Issue Dear Brent: Without having attended the planning meeting, it is a little difficult to make an appropriate estimate. However, my instructions from David Highers (BPMC Chairman) are to assume that I will be involved in all aspects of the transaction, will review all documents, and will independently advise the utilities of any legal issues (i.e. adequacy of legal opinions, etc.) that I see. Based on that level of activity, I estimate our fees to May lst to be approximately $20,000. This is in addition to the approximately $4,500 of March work authorized by the BPMC for working with counsel for Nuveen, AEA and ML&P for review and evaluation of the appropriate legal theory for the financing transaction. Of course, I will receive my instructions from Mr. Highers about whether certain phases of the Project require additional efforts, or lesser efforts, on my part and billings will reflect that increased or decreased activity. Singerely, Ronald L. Saxton ec: David Highers, CEA (via facsimile) RUS\725der.ltr Washington, D.C. San Francisco, California Affiliated offices in (202) 785-0303 (415) 421-4143 Anchorage, Fairbanks Fax (202) 785-8676 Fax (415) 989-1263 and Juneau, Alaska Alaska Energy Authority i BRADLEY PMC VOTING Robb CHL. of Bub CITY OF SEWARD um” YT] Md MATANUSKA ELEC ASSOC. yams [| A_ | |] (| CHUGACHELECASSoc = 30@~—é«‘L?YC=~C‘(GL: S(T] HOMER ELEC ASSOC am ML) OO GOLDEN VALELECASSOC 17m [AL] ALI MUNI LIGHT & POWER 26% Al) Ml) eae ALASKA ENERGY AUTH 21 meee“ TTT T | [IV] YES NO ABS YES" NO ABS RECORU UOPY FILE NO RO Bat mid ~» DATE: | YES NO ABS O = MAJORITY YOTING METHOO A: REQUIRING 4 YEAS W/ 51% OF UTILITIES, WITH NO APA VvoTE; 1) PROCEDURES FOR SCHEDUUNG, PROOUCTION ANO DISPATCH OF PROJECT POWER. 2) ESTABLISHMENT OF PROCEDURES FOR USE OF EACH PURCHASER’S WATER ALLOCATION (APA ASSENT REQUIRED FOR FERC UCENSE REQUIREMENTS). 3) SELECTION AMONG ALTERNATIVE METHOOS THAT (00 NOT INVOLVE APA FOR FUNDING REQUIRED PROJECT WORK, YOTING METHOO C: UNANIMOUS VOTE BY ALL (INCLUDING APA): ADOPTION OF PROCEDURES FOR DISPUTE RESOLU- TION. YOTING METHOO D- MAJORITY VOTE (INCLUDING APA). ELECTION OF OFFICERS. YOUNG METHOO 8: REQUIRING 4 YEAS W/ 51% OF UTIUTIES, AND APA CONCURRENCE; 1) ARRANGING OPERATION ANO MAINTENANCE OF PROJECT. 2) ADOPTION OF BUOGET OF ANNUAL PROJECT costs. 3) ESTABUSHMENT OF FY ESTIMATED ANNUAL PAY- MENT OBLIGATION AND SCHEDULE OF EACH PUR- (CHASER. 4) DETERMINATION OF ANNUAL PROJECT COSTS: AFTER EACH FY. 5) EVALUATION OF NECESSITY FOR AND SCHEDUUNG OF REQUIRED PROJECT WORK, 6) DETERMINATION OF APPROPRIATE AMT. OF IN- SURANCE. 7) ADOPTION OF ADO'L MIN. FUNDING AMTS. FOR RENEWAL AND CONTINGENCY RESERVE FUNO ABOVE THAT REQ. BY BOND RES. 8) SELECTION AMONG ALT. METHOOS THAT INVOLVE APA FOR FUNDING REQ. PROJECT WORK 9) ADOPTION_OR AMENOMENT OF PROCE- DURAL COMMITTEE RULES (EXCEPT DiS- PUTE RES) 10) ADOPTION. OF PROJECT MAINTENANCE SCHEDULES. 11) DETERMINATION OF RULES, PROCE- DURES AND ACCOUNTS NECESSARY TO MANAGE PROJECT WHEN NO BONDS OUT- ‘STANDING. 12) EVALUATION ANO APPROVAL OF OPTION. AL PROJECT WORK AND COMPENSATION FOR SUCH WORK, 13) APPUCATION OF INSURANCE CLAIMS PROCEEDS NOT GOVERNED BY BOND: RESOLUTION. 14) APPROVAL OF PROCEDURES ANO ANY WNOMOUAL UTILITY AGREEMENTS RELATING TO ELECTRIC POWER RESERVES FOR PROJECT. 15) APPROVAL OF CONSULTANTS. 4ECORD UOPY ~ FILE NO Bradley Lake PRO Bel ww PROJECT MANAGEMENT —<__ MEETING 2/3614 1 2 f2if73 J AEA _[ TELECONFERENKE ). (Location) PLEASE SIGN IN No. NAME REPRESENTING 1 Jom Lous Cen 2 JOE ERiFfitil Cé 3 GEWE BIORW STD cel [4 | Ken) x /TcHe Y ME 5 bop) 54 XTou/ UTILITIES 6 | im sTAne Mer P 7 WORM STOR/ Lett 8 Tuc DiENER _|— 323 9 | BRENT PETRIE LEIF- | 10 | CE OL MES t u| Ron) CIHR 2inW/ 13 DEWSE BRGER Vv 14 15 16 | 17 18 19 [20 21 | 22 | 92Q2\IT9884