Title
Resolution - Approval of Additional Funds for Wooden Poles Contract - K Jones/V Maldonado
Other Info
Submitted By: Kat Jones/Virgil Maldonado
Department: Finance
Financial Impact and Cost/Benefit Considerations: As discussed in Executive Session
Discussion
In November 2020, the Cooperative previously authorized execution of a contract for Wooden Pole Supply not to exceed a five-year term and $15M. Because the total funds that may be expended for this supply will now exceed $15M, the contract requires Board approval for such amounts.
Body
BE IT RESOLVED BY THE BOARD OF DIRECTORS that the Board approves the contract in the amount and terms as described in Executive Session; and
BE IT FURTHER RESOLVED BY THE BOARD OF DIRECTORS OF THE COOPERATIVE that the Chief Executive Officer, or designee, take all such actions as needed to implement this resolution.