04-10-2017 BPU RPT 08 - Laserfiche WebLink

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L'; A I= R E N E R L Y I I F F == RIVERSIDE PUBLIC UTILITIES Board Memorandum PUBLIC UTILITIES BOARD OF PUBLIC UTILITIES DATE: APRIL 10, 2017 ITEM NO: 8 SUBJECT: SHAREHOLDER PROXY AUTHORITY FOR THE TRUJILLO WATER COMPANY ISSUE: Approval to delegate the Trujillo Water Company's shareholder proxy authority. RECOMMENDATION: That the Board of Public Utilities approve and recommend that the City Council confirm the voting representatives and alternates outlined in the report and delegate authority to any designated representative or alternate to vote the City's shares as the City's proxy at all meetings of the Trujillo Water Company. DISCUSSION: Submitted for the Board of Public Utilities' consideration and recommendation to the City Council is the affirmation of the following City voting representation and alternates for Shareholders Meetings of the Trujillo Water Company in which the City owns stock and delegation of authority to these individuals to vote the City's shares as the City's proxy at all meetings of the mutual water company: MUTUAL WATER COMPANY Trujillo Water Company VOTING REPRESENTATIVE ALTERNATE Dave Austin Hnarew vvaicKer The proxy authority would extend to matters that routinely come before the shareholders for consideration consistent with each company's articles of incorporation and bylaws, as well as voting for representation on the board of directors for the company. FISCAL IMPACT: There is no fiscal impact associated with this report. Prepared by: Todd L. Jorgenson, Utilities Assistant General Manager/Water Approved by: Girish Balachandran, Utilities General Manager Approved by: John A. Russo, City Manager Approved as to form: Gary G. Geuss, City Attorney Certifies availability of funds: Laura M. Chavez -Nomura, Utilities Assistant General Manager/Finance Attachment: 2017 Trujillo Water Company Shareholders