Thursday, April 15, 2010
The regular meeting of the Board of Directors of the Omaha Public Power District was held in the Board Room on the Atrium Level of Energy Plaza East, on April 15, 2010, at 10:00 a.m.
Present were Directors M. J. Cavanaugh, N. P. Dodge Jr., J. K. Green, G. C. Hall, A. L. McGuire, J. R. Thompson, F. J. Ulrich and D. D. Weber. Also present were W. G. Gates, President; M. C. Bodammer, Corporate Secretary; and S. M. Bruckner and T. F. Meyerson, General Counsel for the District. Mr. Green, Board Chair, presided, and Mrs. Bodammer, Corporate Secretary, recorded the minutes. Other members of Management present were D. J. Bannister, T. J. Burke, E. E. Easterlin, J. T. Hansen, A. J. Minks, D. F. Widoe, G. R. Williams, D. G. Ried, K. A. Roth, L. L. Kapustka, G. A. Krieser, R. J. Rogers, D. S. Emerson, J. J. Hanson, and M. R. Jones. Vice President Doghman was absent. Others present included Mrs. B. Widoe, C. E. Perkins from I.B.E.W. Local #763; Mark Salerno from I.B.E.W. Local #1483, D. F. Begley from I.B.E.W. Local #1483, Mark Welsch; and approximately four additional customer-owners and employees of the District.
The Corporate Secretary read the following:
“Notice of the time and place of this meeting was publicized by notifying the area news media; by publicizing same in the Omaha World-Herald and Outlets; by displaying such notice on the Arcade Level of Energy Plaza since April 9, 2010; and by mailing such notice to each of the District’s Directors on that same date.
“A copy of the proposed agenda for this meeting has been maintained, on a current basis, and is readily available for public inspection in the office of the District’s Corporate Secretary.
“Additionally, a copy of the Open Meetings Law is available for inspection in the public meeting book located in this meeting room.”
It was moved and seconded that the Board reviewed the February 2010 Comprehensive Financial and Operating Report and that the minutes and the approved absence of Director Hall for the last meeting be approved. The vote was recorded as follows: Ulrich - Yes; Weber – Yes; Cavanaugh – Yes; Dodge – Yes; Hall – Abstain; McGuire – Yes; Thompson - Yes and Green – Yes. The motion carried.
Thereafter, the Corporate Secretary read the following:
“Persons wishing to address the Board on a particular item are asked to approach the microphone as that agenda item is discussed. Comments will be heard following Board discussion of the item and prior to a vote by the Board.”
The following resolutions were then read, and upon motion duly seconded, were placed on roll call. The vote on the resolution is indicated following the description of that resolution.
RESOLUTION NO. 5818 approves the use of regulatory accounting for the Fuel and Purchased Power Adjustment and debt service repayments from participants for Nebraska City Station Unit 2 Separate Electric System Revenue Bonds. Director Thompson led the discussion stating that the District is consolidating accounting practices used over the years. He reported the guidance for regulatory accounting permits an entity, such as OPPD, with cost-based rates, under certain conditions and with Board approval, to include revenues and costs in a period other than the period in which these revenues and costs would be recognized by an unregulated entity. Following the discussion, the vote was recorded as follows: Ulrich – Yes; Weber – Yes; Cavanaugh – Yes; Dodge – Yes; Hall – Yes; McGuire – Yes; Thompson – Yes; and Green – Yes. The motion carried.
RESOLUTION NO. 5819 approves the Deloitte & Touche, LLP proposal for financial auditing services for fiscal years 2010, 2011, and 2012. Director Thompson led the discussion stating the current contract for auditing services ends following the 2009 audit, and the District has initiated the bidding process for financial auditing services. The firms of Deloitte and Touche, LLP and KPGM submitted proposals. Based on six criteria factors, the District has recommended the firm of Deloitte and Touche, LLP for a new three-year agreement to be effective May 1, 2010. Following the discussion, the vote was recorded as follows: Ulrich – Yes; Weber – Yes; Cavanaugh – Yes; Dodge – Yes; Hall – Yes; McGuire – Yes; Thompson – Yes; and Green – Yes. The motion carried.
RESOLUTION NO. 5820 authorizes the Board to commence eminent domain proceedings to acquire permanent easements required for a project to replace obsolete switches near 75th & Dodge Streets. Director Cavanaugh led the discussion stating OPPD needs access to this property on the north side of Dodge Street between 75th and 76th Streets to replace switches and improve reliability of services in the area. Vice President Minks indicated OPPD has attempted to negotiate with representatives of the property owner, the Lied Foundation Trust, since 2003. The Lied Foundation Trust has since been nonresponsive to OPPD and no agreement has been reached, making it necessary for the District to acquire the necessary easements by commencing eminent domain proceedings. Following the discussion, the vote was recorded as follows: Ulrich – Yes; Weber – Yes; Cavanaugh – Yes; Dodge – Yes; Hall – Yes; McGuire – Yes; Thompson – Yes; and Green – Yes. The motion carried.
RESOLUTION NO. 5821 approves a resolution honoring Dale F. Widoe upon his retirement. President Gates and Chairman Green expressed their appreciation and well wishes to Vice President Widoe. Thereafter, each director personally congratulated Mr. Widoe, commending him on his honest and dedicated service to the District and commitment to excellence. Following these comments, the vote was recorded as follows: Ulrich – Yes; Weber – Yes; Cavanaugh – Yes; Dodge – Yes; Hall – Yes; McGuire – Yes; Thompson – Yes; and Green – Yes. The motion carried. Chairman Green concluded by presenting a framed resolution to Mr. Widoe.
Copies of the foregoing resolutions are filed in the District’s Corporate Records file.
The next item of business was the opportunity for those in attendance to address the Board on any items of District concern. No one in attendance addressed the Board.
There being no further business, the meeting adjourned at 10:35 a.m.
T. J. Burke M. C. Bodammer
Assistant Secretary Corporate Secretary