HomeMy WebLinkAboutF - HBC AEA CEC Board Resolution 08-06ACORDOVA
�rtirJ0 ELECTRIC
/ COOPERATIVE, INC.
P.O. Box 20 * 705 Second Street * Cordova, Alaska 99574-0020 * (907) 424-5555 * Fax (907) 424-5527
RESOLUTION 08-06A
A RESOLUTION TO APPLY FOR A RENEWABLE ENERGY ASSISTANCE GRANT THROUGH THE ALASKA
ENERGY AUTHORITY FOR THE HUMPBACK CREEK HYDRO FACILITY
WHEREAS, Cordova Electric Cooperative Inc. experienced extensive damage to the Humpback Creek
Hydroelectric Project due to the October 2006 flooding event; and
WHEREAS, FEMA will contribute funds to reconstruct the facility but will not cover the expenses necessary
to design the facility to a standard that would withstand future, similar flooding and erosive wear and tear and assure
the sustainability of the project; and
WHEREAS, to date Cordova Electric Cooperative, Inc. has contributed over $1,000,000 in funds toward the
restoration of this project for geo-technical analysis, engineering design work and required permitting and inspection
services; and
WHEREAS, Cordova Electric Cooperative Inc. Board of Directors has fully discussed the issues and need for
grant funding; and
WHEREAS, Cordova Electric Cooperative Inc. possesses legal authority to apply for a grant and to finance
and construct the proposed facilities;
WHEREAS, Total project costs for completion are estimated to be $11,600,000 and FEMA is currently
scheduled to contribute an estimated $5,100,000 for the restoration, the Board of Directors of Cordova Electric
Cooperative authorizes a request for $5,500,000 from the Alaska Energy Authority Renewable Energy Assistance
Grant with $1,000,000 of snatching funds from Cordova Electric Cooperative; and
NOW, THEREFORE, BE IT RESOLVED that the Board of Directors certifies that Cordova Electric Cooperative is in
compliance with all state and federal laws, including existing credit and federal tax obligations and authorizes the
filing of the application including all understandings and assurances contained therein.
BE IT FURTHER RESOLVED that the Board of Directors directs and appoints Clay R. Koplin as the Primary Agent,
Clay R. Koplin as the Secondary Agent, Valerie J. Covel as the Chief Financial Officer and Harold Symmonds as the
Certifying Official of Cordova Electric Cooperative Inc. to act in connection with the application and to provide such
additional information as may be required.
Passed and approved this 5 IN day of October, 2008
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J "eph Cook, Vice Chairman