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W A I E R E N E R G Y L ! F € <br /> RIVERSIDE PUBLIC UTILITIES <br /> Board Memorandum <br /> PUBLIC UTILITIES <br /> BOARD OF PUBLIC UTILITIES DATE: March 2, 2012 <br /> ITEM NO: 3 <br /> SUBJECT: SHAREHOLDER PROXY AUTHORITY FOR MUTUAL WATER COMPANIES <br /> ISSUE: <br /> That the Board of Public Utilities consider delegating shareholder proxy authority as outlined below. <br /> RECOMMENDATION: <br /> That the Board of Public Utilities approve and recommend that the City Council confirm the voting <br /> representatives and alternates outlined in the report and delegate authority to any designated <br /> representative or alternate to vote the City's shares as the City's proxy at all meetings of the respective <br /> mutual water companies. <br /> BACKGROUND: <br /> Submitted for the Board of Public Utilities' consideration and recommendation to the City Council is the <br /> affirmation of the following City voting representation and alternates for Shareholders Meetings of the <br /> mutual water companies in which the City owns stock and delegation of authority to these individuals to <br /> vote the City's shares as the City's proxy at all meetings of the respective mutual water companies: <br /> MUTUAL WATER COMPANY VOTING REPRESENTATIVE ALTERNATE <br /> Gage Canal Company Kevin Milligan Bernie Titus <br /> Jurupa Ditch Water Company Kevin Milligan Todd Jorgenson <br /> Riverside Highland Water Co. Kevin Milligan Todd Jorgenson <br /> Trujillo Water Company Robert Elliot Bernie Titus <br /> Meeks & Daley Water Company Kevin Milligan Todd Jorgenson <br /> The proxy authority would extend to matters that routinely come before the shareholders for <br /> consideration consistent with each company's articles of incorporation and bylaws, as well as voting for <br /> representation on the boards of directors for each company. Attached is a list of Annual Shareholder <br /> meeting dates and number of shares owned by the City in the various companies. <br /> FISCAL IMPACT: <br /> There is no fiscal impact associated with this report. <br /> Prepared by: Kevin Milligan, Utilities Assistant General Manager/Interim Finance/Administration <br /> Approved by: David H. Wright, Public Utilities General Manager <br /> Approved by: Belinda J. Graham, Assistant City Manager <br /> Approved as to form: Gregory P. Priamos, City Attorney <br /> Attachment: <br /> 1. Annual Shareholder Meeting Dates <br />