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Home My WebLink About10-10-2002 BM MinutesSrpoea7Pee?ALASKA ENERGY AUTHORITY Board Meeting October 10,2002 Minutes te ot dame bo NE,iedoUbe: Alaska Industrial Development and Export Authority ke Cane Alaska Energy Authority AGENDA ALASKA ENERGY AUTHORITY Board of Directors October 10,2002 Anchorage,Alaska 1.CALL TO ORDER 2.BOARD OF DIRECTORS ROLL CALL 3.PUBLIC ROLL CALL 4.PUBLIC COMMENTS 5.PRIOR MINUTES -June 13,2002 6.OLD BUSINESS 7.NEW BUSINESS | A.Acting Executive Director Appointment,Resolution No.2002-02 8.DIRECTOR COMMENTS A.Director's Status Report of AEA Programs and Projects B.Next Meeting Date -Follows AIDEA Board meeting Dates 9.BOARD COMMENTS 10.ADJOURNMENT H:\ALL\bfuglestad\BOARD\Agenda AEA.doc 813 West Northern Lights Boulevard *Anchorage,Alaska 99503 Alaska Industrial Development and Export Authority Alaska Energy Authority ALASKA ENERGY AUTHORITY BOARD OF DIRECTORS October 10,2002 -2:31 p.m. Anchorage,Alaska 1.CALL TO ORDER Chairman Hughes called the meeting of the Alaska Energy Authority to order on October 10,2002, at 2:31 p.m.A quorum was established. 2.BOARD OF DIRECTORS ROLL CALL Directors present in Anchorage:Mr.Wilson Hughes (Chairman/Public Member),Deputy Commissioner Larry Persily (Designee for Department of Revenue),Ms.Helvi Sandvik (Public Member),Commissioner Deborah Sedwick (Department of Community and Economic Development),and Commissioner Joe Perkins (Department of Transportation and Public Facilities). 3.PUBLIC ROLL CALL Staff present in Anchorage:James A.McMillan (Acting Executive Director),Valorie F.Walker (Deputy Director-Finance),Sue Weimer,(Acting Deputy Director-Credit),Brenda J.Fuglestad (Administrative Manager),Lynn Kenney (Development Specialist),and Rebecca Garret (Program Manager). Others attending in Anchorage:Mike Mitchell (Department of Law),Keith Laufer (Foster Pepper Rubini &Reeves),Ken Vassar (Wohlforth Vassar Johnson &Brecht),and Tim Bradner (Alaska Journal of Commerce). 4.PUBLIC COMMENTS There was no public comment. 5.PRIOR MINUTES -June 13,2002 The June 13,2002,minutes were approved as presented. 6.OLD BUSINESS There was no old business. 813 West Northern Lights Boulevard¢Anchorage,Alaska 99503ANTLALOVANN2FAVONTIDOIDAMAwimmntwindannnow AEA Board Meeting October 10,2002 Meeting Minutes Page 2 7.NEW BUSINESS 7A.Resolution No.2002-02,Resolution of the Alaska Energy Authority Relating to the Appointment of an Acting Executive Director Mr.McMillan reviewed Resolution No.2002-02 stating it is a resolution that appoints James A. McMillan as Acting Executive Director effective August 30,2002. MOTION:Commissioner Sedwick moved to approve Resolution No.2002-02.Seconded by Deputy Commissioner Persily.There being no discussion,the question was called.A roll call vote was taken and the motion passed. 8.DIRECTORS COMMENTS Mr.McMillan said the Rural Energy Conference that was held in Fairbanks was well received and there have been good follow-up reports. 9.BOARD COMMENTS There were no Board comments. 10.ADJOURNMENT Hearing no objections Chairman Hughes adjourned the meeting at 2:35 p.m. GO Rectan James A.McMillan,Secretary Alaska Industrial Development and Export Authority Alaska Energy Authority ALASKA ENERGY AUTHORITY BOARD OF DIRECTORS June 13,2002 -4:17 p.m. Anchorage,and Ketchikan,Alaska,Spokane,Washington Held at the Dimond Center Hotel in Anchorage Alaska 1.CALL TO ORDER Chairman Hughes called the meeting of the Alaska Energy Authority to order on June 13,2002,at 4:17 p.m.A quorum was established. 2.BOARD OF DIRECTORS ROLL CALL Directors present in Anchorage:Mr.Wilson Hughes (Chairman/Public Member),Deputy Commissioner Larry Persily (Designee for Department of Revenue),Ms.Helvi Sandvik (Public Member),and Commissioner Joe Perkins (Department of Transportation and Public Facilities). 3.PUBLIC ROLL CALL Staff present in Anchorage:Robert Poe,Jr.(Executive Director),Valorie F.Walker (Deputy Director-Finance),James McMillan,(Deputy Director-Credit),Brenda J.Fuglestad (Administrative Assistant),Lynn Kenney (Development Specialist). Others attending in Anchorage:Brian Bjorkquist and Mike Mitchell (Department of Law). 4.PUBLIC COMMENTS There was no public comment. 5.PRIOR MINUTES -December 6 and 11,2001 The December 6 and 11,2001,minutes were approved as presented. 6.OLD BUSINESS There was no old business. 7.NEW BUSINESS 7A.Resolution No.2002-01,Resolution of the Alaska Energy Authority Authorizing Resolution and Restructuring of Debt Related to the Larsen Bay Hydroelectric Project,and Providing for Related Matters 813 West Northern Lights Boulevard *Anchorage,Alaska 99503 AEA Board Meeting June 13,2002 Meeting Minutes Page 2 Messrs.Poe and Bjorkquist reviewed Resolution No.2002-02 stating it will implement the basic terms of the 1999 agreement between the City of Larsen Bay and the former Division of Energy, Department of Community and Regional Affairs to resolve debt issues related to the Larsen Bay Hydroelectric Project.The resolution will authorize the Authority to use up to $220,000 from the Power Development Fund to call all remaining Larsen Bay bonds;ratify the 1995 action by the former Division of Energy reducing the interest rate on the Larsen Bay Power Project Fund Loan to zero percent;and ratify the expenditures made by the Authority from the Power Development Fund for the operating costs and bond principal and interest payments.He referred the Board to their packets for detailed information. Mr.Bjorkquist gave a brief history and background of the Larsen Bay Hydroelectric Project for the Board stating is consists of a 475 kW turbine/generator,a 140 foot wide by 14 foot high earth am, approximately 6,000 feet of penstock,and with a 600 foot elevation difference.The project was originally projected to costs approximately $525,000.By 1990 the new total estimated cost increased to $1.8 million.Larsen Bay requested that the Authority assume responsibility for construction and ownership of the project.Additional funding to complete the project was obtained through a $500,000 PCE efficiency grant,a $30,000 Department of Administration grant,and bonds issued by the Authority.Mr.Bjorkquist referred the Board to their packets for detailed information on the history and background information. Staff has been working with Larsen Bay to develop a business plan that is modeled after the business plan that the rural energy group does with bulk fuel upgrades to help provide a sustainable project including budgets.In addition,the Authority has been involved in training programs funded by the Denali Commission that helps train the operators how to operate a hydro plant. Staff recommended approval of Resolution No.2002-01. In response to Board questions,Mr.Copolous said the plant has been operating for approximately 6-8 months and is capable of producing 400 kW and it is meeting the entire city's output that is approximately 120 kW.They are also supplying power to the cannery's ice machine which will be running for the summer.To get the plant working there were a number of repairs done to the turbine. MOTION:Commissioner Perkins moved to approve Resolution No 2002-01.Seconded by Ms.Sandvik.There being no further discussion,the question was called.A roll call vote was taken and the motion passed unanimously. 8.|DIRECTORS COMMENTS Mr.Poe gave an update on the Village Management Training Program.He said staff discussed this issue with Sheldon Jackson and the Denali Commission put the training program together.It was conducted a couple of weeks ago and there were approximately 20 attendees.The training covered everything from what is the difference from equity and debt to how to write a federal grant. It also covered a great deal of management and organizational skills that people could benefit from. 9.BOARD COMMENTS There were no Board comments. AEA Board Meeting 'June 13,2002 Meeting Minutes Page 3 40.ADJOURNMENT Hearing no objections Chairman Hughes adjourned the meeting at 5:10 p.m. 6 OM setaeJamesA.McMillan,Assistant Secretary ALASKA ENERGY AUTHORITY RESOLUTION NO.2002-02 RESOLUTION OF THE ALASKA ENERGY AUTHORITY RELATING TO THE APPOINTMENT OF AN ACTING EXECUTIVE DIRECTOR WHEREAS,the By-Laws of the Alaska Energy Authority (the "Authority”)allow the members of the Authority to appoint an Executive Director of the Authority; .WHEREAS,the By-Laws of the Authority further provide that the Executive Director of the Authority is the Secretary-Treasurer of the Authority; WHEREAS,the previous Executive Director of the Authority resigned that position effective August 30,2002; WHEREAS,the members of the Authority have determined that it is not appropriate at this time to search for a new,permanent Executive Director of the Authority;and WHEREAS,it is in the public interest and in the best interests of the Authority that James A.McMillan,Deputy Director-Credit,be appointed Acting Executive Director of the Authority. NOW,THEREFORE,BE IT RESOLVED BY THE ALASKA ENERGY AUTHORITY AS FOLLOWS: Section 1.Effective as of August 30,2002,James A.McMillan,is appointed Acting Executive Director and Secretary-Treasurer of the Authority.James A.McMillan shall continue to hold his current appointed position of Deputy Director-Credit. Section 2.From time to time,as may be required on a temporary basis,when the Acting Executive Director is unavailable,the Acting Executive Director may designate any Assistant Secretary of the Authority to act on his behalf.The person so designated shall have all the duties and powers of the Acting Executive Director of the Authority during the period the Acting Executive Director is unavailable. Section 3.The Acting Executive Director of the Authority or any Authority staff member designated by him is hereby authorized to sign,on behalf of the Authority,all contracts,deeds and other instruments made by the Authority,and related documents. Section 4,Actions taken by the Acting Executive Director of the Authority or any - Authority staff member designated by him from August 30,2002,to the effective date of this resolution are confirmed and ratified. Section 5.This Resolution takes effect immediately. DATED at Anchorage,Alaska,this 10"day of October 2002. Chairman ATTEST [SEAL] Secretary Appointment of Acting Executive Director Resolution No.2002-02 H:\ALL\bfuglestad\BOARD\RESOLUTIMEA Acting Executive Director Appt Resolution.doc Page 2