Laserfiche WebLink
wni =R t v t ai,v i i <br />-- RIVERSIDE PUBLIC UTILITIES <br />WON Board Memorandum <br />PUBLIC UTILITIES <br />BOARD OF PUBLIC UTILITIES DATE: JANUARY 9, 2017 <br />ITEM NO: 8 <br />SUBJECT: SHAREHOLDER PROXY AUTHORITY FOR MUTUAL WATER COMPANIES <br />ISSUE: <br />Consider delegating shareholder proxy authority as outlined in this report. <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 <br />representative or alternate to vote the City's shares <br />mutual water companies. <br />DISCUSSION: <br />report and delegate authority to any designated <br />as the City's proxy at all meetings of the respective <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 <br />Gage Canal Company <br />Todd Jorgenson <br />Jurupa Ditch Water Company <br />Todd Jorgenson <br />Riverside Highland Water Co. <br />Todd Jorgenson <br />Trujillo Water Company <br />Dave Austin <br />Meeks & Daley Water Company <br />Todd Jorgenson <br />ALTERNATE <br />Dave Austin <br />David Garcia <br />Oscar Khoury <br />Jennifer O'Farrell <br />David 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 />There is no fiscal impact associated with this report. <br />Prepared by: Todd L. Jorgenson, Utilities Assistant General Manager/Water <br />Approved by: Girish Balachandran, Utilities General Manager <br />Approved by: John A. Russo, City Manager <br />Approved as to form: Gary G. Geuss, City Attorney <br />Certifies availability <br />of funds: Laura Chavez -Nomura, Utilities Assistant General Manager <br />Attachment: Annual Shareholder Meeting Dates <br />