08-22-2016 ERMU SPECIAL MIN ELK RIVER MUNICIPAL UTILITIES
SPECIAL MEETING OF THE
UTILITIES COMMISSION
HELD AT UTILITIES CONFERENCE ROOM
August 22,2016
Members Present: Al Nadeau,Vice Chair;and Daryl Thompson,Trustee
Members Absent: John Dietz,Chair
ERMU Staff Present: Troy Adams,General Manager;
Mark Fuchs,Electric Superintendent;
Eric Volk,Water Superintendent;
Mike O'Neill,Technical Services Superintendent;
Tom Sagstetter,Conservation&Key Accounts Manager;
Michelle Canterbury,Executive Administrative Assistant
Others Present: Peter Beck,Attorney
1.0 CALL MEETING TO ORDER
Al Nadeau called the August 22,2016 meeting to order at 9:15 a.m.
2.0 DISCUSS AND TAKE ACTION ON THE PURCHASE OR SALE OF REAL OR
PERSONAL PROPERTY—BUSINESS LINE
Staff distributed Resolution No. 16-9 Authorizing the Sale of Monitoring Accounts.Troy
Adams stated that the Resolution was on the table for consideration. A draft Asset Purchase
Agreement and draft Bill of Sale,Assignment&Assumption Agreement was also provided to
the Commission. The Commission had the opportunity to review the draft Agreements and had
a question on the redlined markups. Staff and Legal Counsel responded. Peter Beck shared that
there was one other minor change that the buyer's Attorney had requested to be changed on the
Purchase Agreement that was not reflected on the distributed copy. He added that he had a
chance to review the request and didn't see any problem with making the change. Peter
explained that the way the resolution is written,the draft Agreements would be approved subject
to finalization of the Agreements to the satisfaction of the Chair,General Manager,and
Commission Attorney.
Troy Adams relayed that Chair Dietz who was unable to be at the meeting,and recognizing that
he could not vote,requested it be added to the record that he supported the approval of the
resolution.
Daryl Thompson made a motion to approve the resolution authorizing the sale of the
monitoring accounts. Al Nadeau seconded the motion. Motion carried 2-0.
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Special Meeting of the Elk River Municipal Utilities Commission
August 22,2016
3.0 ADJOURMENT
Daryl Thompson moved to adjourn the special meeting of the Elk River Municipal
Utilities Commission at 9:22 a.m. Al Nadeua seconded the motion. Motion carried 2-0.
Minutes prepared by Michelle Canterbury.
►'"�,
1 J. t ietz
Chair,E U 'o., sion
Tina Allard
City Clerk
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Special Meeting of the Elk River Municipal Utilities Commission
August 22,2016