Douglas County PUD Commissioners Jim Davis and Mike Doneen executed the following actions during the November 3, 2003 Commission meeting held at the East Wenatchee Headquarters building:
Authorized acceptance of a subdivision power facilities agreement Kentucky Crossing, Phase I. The developer, Kentucky Crossing LLC., has paid the Contribution in Aid of Construction and provided a secured funds account in the total amount of $69,896. (03-178)
Approved revisions to the General Transfer Agreement with Bonneville Power Administration adding the Nespelem Point of Delivery. This interconnection will provide temporary back-up service for Nespelem Valley Electric Cooperative. (03-179)
Authorized the renewal of Aircraft Non-ownership Liability Coverage with XL Aerospace. The premium price of $10,625 will insure Douglas PUD with a $10,000,000 limit of liability after the charter provider’s coverage is exhausted. (03-180)
Rejected the bids to provide Douglas PUD with excitation system replacement for units one through ten at the Wells Hydroelectric Project. The bids received for the contract exceeded the engineer’s estimate by more than the amount allowable under state law. (03-181)
Authorized persons to conduct investment transactions with Bank of America and its affiliates. This resolution was requested by Bank of America in order to complete their file on the District. (03-182)
Manager Dobbins reported that Moody’s Investors Service upgraded the rating of Wells Project Revenue Bonds to Aa2 from Aa3. This upgrade comes on the eve of the pricing of the Wells Hydroelectric Project bonds on Wednesday. Standard Poors also confirmed their rating of the District at AA.
Reminded those present, a special meeting of the board to approve the sale of Wells Hydroelectric Project bonds will be held Wednesday, November 5, 2003 at 3:30 p.m. in the East Wenatchee Headquarters Board Room.