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5.5 Transmission Transformed Rate <br /> Mr. Adams shared that we have been working with Minnesota Municipal Power Agency <br /> (MMPA) to come up with a rate intended for very large new construction electric energy <br /> only services.The rate would be used by MMPA to market the twelve member <br /> communities' shovel ready sites to data developers. Mr. Adams touched on the <br /> qualifications for the rate. A template service requirements document outlining the terms <br /> of the proposed rate was presented.There was discussion on the terms of the proposed <br /> rate, and the risks and benefits of offering it. Mr. Adams noted that if the terms of the <br /> rate are approved, this rate would be included with the schedule of rates for adoption in <br /> December. <br /> Moved by Commissioner Nadeau and seconded by Commissioner Stewart to approve <br /> the terms of the Transmission Transformed Rate. Motion carried 5-0. <br /> 5.6 Minnesota Municipal Power Agency Alternate Representative Appointment <br /> In September, 2019, Commissioner Nadeau informed the Commission of his desire to <br /> stepdown from his appointment as Minnesota Municipal Power Agency(MMPA) Board <br /> Alternate Representative, effective January 1, 2020. Mr. Adams shared that Commissioner <br /> Stewart has expressed an interest in serving as the alternate representative. <br /> Moved by Commissioner Nadeau and seconded by Commissioner Bell to adopt <br /> Resolution No. 19-8 appointing Mary Stewart to the position of Alternate <br /> Representative to the Minnesota Municipal Power Agency Board. Motion carried 5-0. <br /> 6.0 BUSINESS DISCUSSION <br /> 6.1 Staff Updates <br /> Ms.Slominski shared that the Financial Reserves and Investment Committee(FR&IC) had met <br /> just prior to the Commission meeting at 2:30 p.m. Committee Chair Westgaard provided a <br /> verbal update to the Commission.At the meeting the FR&IC reviewed financial reserves and <br /> investment policies,electric and water reserve balances,and investment balances.The FR&IC <br /> discussed leaving the unrestricted reserve balances in place until we have a better handle on <br /> the Highway 169 Redefine Project and the costs associated with moving our infrastructure. <br /> There were no recommendations from the Committee at this time. <br /> Troy Adams shared that the applicant for the Information Technology/Operational <br /> Technology Manager position has rescinded acceptance of our job offer. Staff is looking <br /> into the option of using a third party to help recruit for the position. <br /> Elk River Municipal Utilities Commission Meeting Minutes <br /> November 12, 2019 <br /> Page 7 <br />