Minutes from the June 12 Meeting of the ECFiber Governing Board

//Minutes from the June 12 Meeting of the ECFiber Governing Board

East Central Vermont Telecommunications District (ECFiber)
Governing Board Meeting
June 12, 2018
Minutes

Call to Order: Chairman called the meeting to order at 7:04 p.m.

1. Attendance
Chair called the roll and established that a quorum of member towns was present. See attached attendance record for details.

2. Introduction of Guests
Marty Blumberg (ECFiber Treasurer), Henry Swayze (Tunbridge), Chuck Sherman (ValleyNet), Dave Brown (ValleyNet Marketing)

3. Public Comments
None.

4. Review/Re-sequence Agenda
Motion to exchange the order of agenda items 12 and 13. (M/Merrill, S/Gillette) – passed

5. Accept Minutes of May 8, 2018 Meeting
Motion to accept minutes. (M/Merrill, S/Childs) – passed.

6. Executive Committee Report
Chair provided a summary of Executive Committee activities, all which led to the agenda items herein. He also mentioned that the Governor will be conducting state-wide community sessions to learn about issues around the state.

7. Construction and Operations Update
Carole reports that the 2017 construction is continuing. We have lit 11 new FSAs in Thetford. We are waiting for highway crossing permits in some cases. The Thetford fiber is about 90% up and splicing is about half done. Sections of Barnard and Pomfret should be finished soon. We are experiencing delays with Genesee Railroad (the owner of the old Central Vermont Railway tracks) in planning railroad crossings such as waiting for deployment of rail crossing flagging crew. Eagle Peak section in Brookfield is ready to build.

The pole licensing for the 2018 construction is a few days behind schedule but nothing to be concerned about. Consolidated Communications remains on time with make ready work. Materials are on hand and the design for the six 2018 build town

We are at 2560 customers at end of May and able to add as many as 40/week in the best of conditions.

For 2019 we would like to build out in the towns of Sharon, Royalton, Tunbridge and Vershire and about 80 additional miles of network in high interest areas and to complete the remainder of the network design throughout.

Motion to approve Valley Net’s 2019 build plans to cover Sharon, Royalton, Tunbridge and Vershire next and about 80 miles of discretionary network. (M/Leavitt, S/Merrill) – passed.

8. Finance Committee Report
Marty says that we have decided to move the next bond offering to late-July/mid-August. At end of May we had about $3M with a burn rate of about $1M/month, which provides adequate funding through August, when new funding will be needed.

9. Motion: To enter Executive Session for discussion of contract matters whose premature disclosure could put the District at an economic disadvantage.
Motion to enter Executive Session for discussion of contract matters whose premature disclosure could put the District at an economic disadvantage. (M/Merrill, S/Gillette) – passed

Motion to exit Executive Session to correct the motion to invite non-members. (M/Merrill, S/Gillette) – passed

Motion to enter Executive Session for discussion of contract matters whose premature disclosure could put the District at an economic disadvantage and to invite Henry Swayze, Chuck Sherman, Carole Monroe and David Brown to join. (M/Merrill, S/Gillette) – passed.

Motion to exit executive Session (M/Merrill, S/ Karon) – passed

10. Motion: Authorize Expenditures for the 2018 Construction Contract with Eustis not to exceed $3,900,000.
Motion to Authorize Expenditures for the 2018 Construction Contract with Eustis not to exceed $3,900,000. (M/Merrill, S/Childs) – passed.

11. Motion: Postponement of the July meeting until July 17th
Motion to postpone the July 2018 Governing Board meeting to July 17, 2018. (M/Merrill, S/Karon) – passed.

12. Motion: Declaration of Official Intent to Reimburse Certain Expenditures from Proceeds of Indebtedness
Motion to Declare Official Intent to Reimburse Certain Expenditures from Proceeds of Indebtedness. (M/Ward, S/Merrill) – passed.

13. Motion: To proceed with the 2018 Series revenue bond financing for formal consideration at the July 17, 2018 Governing Board meeting.
Motion to proceed with the 2018 Series revenue bond financing for formal consideration at the July 17, 2018 Governing Board meeting. (M/Merrill, S/Karon) – passed.

14. Approval of Audit & Finance Committee slate
Motion to Approve the Audit & Finance Committee slate of members: Marty Blumberg as Chair, Fred Thomas, Dan Childs, George Sadowsky and Chris Noble. (M/Gillette, S/Merrill) – passed.

15. Old Business
None.

16. New Business
None.

17. Adjournment
Motion to adjourn at 8:33 PM. (M/Merrill, S/White) – passed.

Note: The next Governing Board meeting will be July 17, 2018.

2018-06-13T16:03:39+00:00