05-11-2021 ERMU MIN - Laserfiche WebLink

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2.2 Regular Meeting Minutes—April 13,2021 2.3 2021 First Quarter Utilities Performance Metrics Scorecard Statistics 2.4 2020 Consumer Confidence Report 2.5 Resolution Awarding the Issuance and Sale of Electric Revenue Bonds,Series 2021B 2.6 Transmission Transformed Service Rate Motion carried 4-0. 3.0 OPEN FORUM No one appeared for open forum. 4.0 POLICY&COMPLIANCE 4.1 Payment in Lieu of Taxes and Other Donations to the City of Elk River Ms. Slominski presented her memo detailing a proposed change to Policy G.2a1 Payment in Lieu of Taxes(PILOT) and Other Donations to the City of Elk River.The change is intended to have policies prepared for the implementation of a Transmission Transformed Service Rate (TTSR), ensuring that revenue is correctly calculated for the PILOT disbursement sent to the City.The existing policy states that ERMU shall pay 4%of revenues for electric customers within the corporate boundaries of the City of Elk River. The proposed change to the policy provides an additional PILOT calculation for the TTSR customers that states ERMU shall pay 4%of the margin. Chair Dietz had clarifying questions. Staff responded. Moved by Commissioner Bell and seconded by Commissioner Nadeau to adopt the revised Commission Policy G.2a1 Payment in Lieu of Taxes and Other Donations to the City of Elk River. Motion carried 4-0 5.0 BUSINESS ACTION 5.1 Award of General Obligation Water Utility Revenue Bonds,Series 2021C Ms. Heaton was pleased to present the results of the sale of General Obligation Water Utility Revenue Bonds, Series 2021C for a total of$1,750,000.This bond will represent the water department's 12.5%share of the field services facility expansion. Proposals for the sale of the bonds were received the morning of May 11 until 10:30 a.m. Ms. Heaton distributed the bid tabulation and winning bid form and walked through the information and market sale results. Elk River Municipal Utilities Commission Meeting Minutes May 11, 2021 Page 3