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1.4 Recognition of Employee Achievement <br /> Mr. Volk introduced Dave Ninow and announced he had received his Class A Water Operator <br /> License. Mr.Volk shared the steps involved with earning the certification. He also had some kind <br /> words to share about Dave and his accomplishment.The Commission congratulated Dave on his <br /> achievement. <br /> 2.0 CONSENT AGENDA(Approved By One Motion) <br /> Ms. Slominski made note that the memo for the renewal premium for property casual insurance had <br /> an incorrect reference in the first paragraph.Where is should have stated the 2018-2019 year,it <br /> incorrectly stated 2017-2018.The renewal information presented for approval was for the 2018- <br /> 2019 year. <br /> Moved by Commissioner Nadeau and seconded by Commissioner Stewart to approve the <br /> Consent Agenda as follows: <br /> 2.1 June Check Register <br /> 2.2 June 12,2018 Regular Meeting Minutes <br /> 2.3 June 12,2018 Closed Meeting Minutes <br /> 2.4 Renewal Premium for LMCIT Property/Casual Insurance <br /> Motion carried 5-0. <br /> 5.1 Bond Sale Resolution <br /> Theresa Slominski shared that staff has been working with our financial consultants, Springsted,for <br /> the bonding for our final payment buy-in to the Minnesota Municipal Power Agency(MMPA). She <br /> shared that due to summer schedules and holidays, it was necessary to start the process a month <br /> earlier to ensure timely funding to MMPA of September 28, 2018. As stated last month, a <br /> projected final buy-in amount will be provided July 12, 2018 from MMPA. To accommodate <br /> for the July 10, 2018 commission meeting, the resolution has been worded for an anticipated <br /> amount of$10 million with an authorization to modify upon receipt of the final numbers July <br /> 12, 2018. <br /> Ms.Heaton, Senior Vice President with Springsted,went over the schedule and timing of some of <br /> the key events that will occur relative to the bond issuance. She noted that due to the time constraints <br /> we are working with, a special meeting of the Utilities Commission would need to be held on <br /> August 29 at 3:00 p.m.for consideration and award of the bonds. Ms. Heaton provided a <br /> summarization of the recommendations for issuance of the 2018A bonding for$10 million. Chair <br /> Dietz had a question on what our interest rate was on our prior$10 million dollar bond. Staff stated <br /> that they would need to verify that and report back to the Commission. <br /> Page 2 <br /> Regular Meeting of the Elk River Municipal Utilities Commission <br /> July 10,2018 <br /> 24 <br />