Special Meeting: March 2020
CORDOVA ELECTRIC COOPERATIVE, INC. SPECIAL BOARD METING
March 17, 2020
The Special Meeting of the Board of Directors of Cordova Electric Cooperative, Inc. was called to order at noon by Chairman Pegau. Members present were Cook and Ranney. Director Faulkner and Cooper participated via teleconference. Director Phillips was absent. Also present were CEO Koplin and Manager of Generation and Distribution Newlun. Manager of Administration and Finance Merritt, Executive Assistant/HR Bailer (Recorder), and Project and Technology Manager Kuntz participated via teleconference.
APPROVAL OF AGENDA
Cook moved and Ranney seconded to approve the Agenda as presented. Roll call vote: Unanimous. Motion carried.
CEO Verbal Report
Koplin mentioned he is in contact with Counsel Andy Leman and in reference to the Annual Meeting schedule we are in unprecedented waters so follow our Bylaws. Koplin said if the Board elects to cancel the Annual Meeting we can continue with the voting and advertise to let members know they can mail or drop off their ballots in the CEC drop box outside the office. If we hold elections now we can defer the meeting and business section to next year.
Koplin said he and Merritt have been watching the interest rates and have fixed loans at the lower rate.
Koplin mentioned the planned Humpback Creek Hydroelectric Project work has been cancelled due to the pandemic and that Management is making decisions on a daily basis. CEC also cancelled the Electrify Alaska! Conference scheduled for April 2020 and the IPS Connect Conference scheduled for July, both in Cordova. In addition, CEC has cancelled all business travel.
Postpone CEC Annual Meeting – Cooper moved and Faulkner seconded to cancel the CEC March 2020 Annual Meeting of members but proceed with the election as scheduled. Ranney referred to Special meeting of March 17, 2020 Final
CEC Bylaw Article III, Section 1 and Cooper referred to Article III, Section 6. Discussion on Bylaws and information from Counsel to CEO. Roll call vote: Unanimous. Motion carried.
Faulkner – asked about the March 25, 2020 Board meeting and Pegau said call in options will be available.
Pegau – Glad we’re able to cancel the Annual Meeting as to postpone would be different.
Cook – Stay cool and hang on.
Ranney – no comments
Cooper – no comments
Ranney moved to adjourn at 12:15 p.m. seconded by Cook.