BOARD
OF DIRECTORS SPECIAL MEETING
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A.
CALL TO ORDER
Chair Sears called the
meeting to order at
B.
ROLL CALL
Roll call was conducted
with the following members present: Dave Hull via conference call, Allan
Hemphill, Robert Simonson, Budge Campbell, Dave Ripple, and Leo Sears. Chairman Sears presiding.
Directors Absent: None
Also present: Douglas M
Christy, Executive Director; Chris Neary, General Counsel; and Dina
Polkinghorne, Executive Assistant.
C.
AGENDA APPROVAL
Board Action:
Upon motion by Director Hemphill, 2nd by Director Ripple, and
carried (5-0); the agenda was approved with the addition of anticipated
litigation added to Item F � Closed Session.
�None
E.
COMMITTEE REPORTS
�������������������� 1.����������������������� Finance
Committee�
Director Hemphill reported
that the Finance Committee met prior to the special meeting and they made a recommendation
to the board to accept the financial report as presented and that the Executive
Director defer as many items in the �Valid Long Term Debt� (column five) in the
report presented to the greatest extent possible to conserve cash flow.
Concurrent with this recommendation, the Finance Committee also recommended
that the Executive Director present a budget to the Board of Directors showing
the sources of revenue in future years that would be used to absorb those
deferrals.��
Director
Campbell emphasized that a realistic and positive approach be used to pay off
these debts.�
����������������������������������������������������������������������������������� Director
Campbell left the meeting at
����������������������������������������������������������������������������������� Adjourned
for closed session at
F.
CLOSED SESSION
1.�������� Public Employment: Office of Executive Director
2.�������� Conference
with Legal Counsel � Existing Litigation
Government Code Section
54956.9 (a)
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3. ����� Cal
Pacific Carbon vs NCRA: Humboldt County Superior Court Case #DR 020712
� ��������� Conference with Legal Counsel �
Existing Litigation
Government Code Section 54956.9
(c)
Based on existing facts and circumstances, the board
will consider whether to initiate litigation.
4. ����� Significant
Exposure to Litigation
�� Government
Code Section 54956.9 (b)
�������������������������������������������������������������������������� Reconvened
at
G.
ANNOUNCEMENT OF ACTION TAKEN
IN CLOSED SESSION
The board met with Legal Counsel relating to
anticipated litigation and gave direction to Counsel. The board approved
settlement with Cal Pacific Carbon recognizing the Railroad�s freight easement
and accommodating Cal Pacific�s improvement plans.
None
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