Board meeting upcoming Mon. May 12

Early this month, the next GVEA Board meeting will be held May 12, 2014. The member book has just been uploaded today and has some interesting items up for discussion and approval.

A proposed review of Healy 1 coal fired power plant operations and GVEA organizational structure and strategy for $130,000 plus travel and per diem for a consultant.

An investment policy for the funds put aside in a 'sinking fund' to pay back the balloon payment for the N.P. expansion plant construction bullet loan from some years ago. GVEA only pays interest at present, but is putting aside funds annually to be adequate to pay back the principal when due.

Finally, there was one late addition - a resolution to approve a fuel purchase agreement from Petro Star that was prompted by the upcoming closure of the Flint Hills Refinery. This was reported in the Fairbanks Daily News Miner May 9, 2014.

People around town have commented on the lack of quorum for the recent annual meeting. I don't see this on the agenda, but perhaps it will be discussed under board member comments.