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,,/ <br /> Elk River <br /> Municipal Utilities UTILITIES COMMISSION MEETING <br /> TO: FROM: <br /> Elk River Municipal Utilities Commission Troy Adams, P.E.—General Manager <br /> John Dietz—Chair <br /> Al Nadeau—Vice Chair <br /> Daryl Thompson—Trustee <br /> MEETING DATE: AGENDA ITEM NUMBER: <br /> September 13, 2016 6.1a <br /> SUBJECT: <br /> Staff Updates—General Manager <br /> DISCUSSION: <br /> • The Board of Directors of the Minnesota Municipal Power Agency(MMPA)met on August 23, <br /> 2016 in Shakopee,Minnesota. <br /> Construction continues to move ahead on MMPA's 46 MW Shakopee Energy Park project. The <br /> project remains on schedule for a Q2 2017 in-service date. <br /> MMPA sold bonds to fund the Shakopee Energy Park project on July 28. The yield to maturity <br /> on the 31-year bond issue was 3.37%. Closing on the bonds occurred on August 25. <br /> The Board also discussed the status of MMPA's renewable contracts for both wind and solar <br /> power. <br /> Attached are MMPA's 2015 annual report and unaudited financial statements. <br /> • The Minnesota Municipal Utilities Association(MMUA)Executive Leadership Development <br /> Program committee held interviews for a program director on August 24 and 25.The selection <br /> will be made no later than September 30. <br /> • Staff and I attended the NISC Member Information Conference from August 7—8. Typically this <br /> would not be something I would attend,but due to our involvement with NISC leading to their <br /> decision to provide a fund accounting module we felt an ERMU leadership presence was needed <br /> at this conference. Our NISC Regional Business Manager has facilitated some meeting times for <br /> ERMU to engage key NISC leadership as well as an opportunity for me to meet with NISC's <br /> CEO Vern Dosch. <br /> ATTACHMENTS: <br /> • 2015 Minnesota Municipal Power Agency Annual Report <br /> • Minnesota Municipal Power Agency Unaudited Financials—YTD June 30, 2016 <br /> POWERED BY <br /> Page 1 of 1 NATURE <br /> Reliable Public <br /> Power Provide( POAERED To S E P.v E <br /> 110 <br />