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04-11-2016 BPU RPT 04
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04-11-2016 BPU AGENDA
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RIVERSIDE PUBLIC UTILITIES <br />Board Memorandum <br />BOARD OF PUBLIC UTILITIESDATE <br />:APRIL 11, 2016 <br />ITEM NO <br />: 4 <br />File ID –16-1041–Discussion <br />SUBJECTSHAREHOLDER PROXY AUTHORITY FOR MUTUAL WATER COMPANIES <br />: <br />ISSUE <br />: <br />That the Board of Public Utilities considersdelegating shareholder proxy authority as outlined below. <br />RECOMMENDATION <br />: <br />That the Board of Public Utilitiesapprove and recommend that the City Council confirm the voting <br />representatives and alternates outlined in the reportanddelegate authority to anydesignated <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 />: <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 alternatesfor Shareholders Meetings of the <br />mutual water companies in which the City owns stockand 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 COMPANYVOTING REPRESENTATIVEALTERNATE <br />Gage Canal CompanyTodd JorgensonDave Austin <br />Jurupa Ditch Water CompanyTodd JorgensonDavid Garcia <br />Riverside Highland Water Co.Todd JorgensonOscar Khoury <br />Trujillo Water CompanyDave AustinJustin Scott-Coe <br />Meeks & Daley Water CompanyTodd JorgensonDavid Garcia <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 />: <br />There is no fiscal impact associated with this report. <br />Prepared by:Todd L. Jorgenson, Public Utilities Assistant General Manager/Water <br />Approved by:Girish Balachandran, Public Utilities General Manager <br />Approved by:John A. Russo, City Manager <br />Approved as to form:Gary G. Geuss, City Attorney <br />Attachment:Annual Shareholder Meeting Dates <br />Page 11 <br />
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