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9) The General Manager reviewed the June and July financial <br /> statements with the Commissioners with particular emphasis being <br /> placed on the high demands which occurred during those two months <br /> which caused the purchased power costs to be abnormally high, thus <br /> reducing the operating margins. <br /> 10) The General Manager reported the Public Utilities Commission has <br /> accepted the agreement worked out with Anoka Electric Cooperative. <br /> ERMU staff has since met with AEC and the first definition of <br /> territory acquisition has occurred. AEC has up to a year to <br /> respond with costs. <br /> 11) A report depicting the needs for a future substation was <br /> presented. The Commission directed staff to proceed with the <br /> proper planning for this future addition. <br /> 12) The next meeting was set for Monday September 9, 1991 at 4 : 00 P.M. <br /> at the Utilities Office. <br /> 13) Motion by Mr. Zabee, seconded by Mr. Tralle to adjourn. The <br /> motion carried. Meeting adjourned at 5:45 P.M. <br /> Bill Birrenkott <br /> General Manager <br />