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, <br />BRADFORD PUBLISHING CO <br />WRCC, Inc. <br />September 18, 2009 <br />A special meeting of the Board of Directors was called to order by President, Barry Anderson, at 10:00 <br />a.m. All members were present. Mayo Sommermeyer and Tim Dow, Company Attorneys, were also in <br />attendance. <br />This meeting was called to authorize a feasibility study and application to CWCB for a loan to rebuild <br />the entire inlet facility to Cobb Lake Reservoir. <br />Mayo Sommermeyer, General Counsel to the Company summarized prior discussions concerning this <br />project and submitted the preliminary report and costs estimates from the engineer, John Andrew. <br />Upon motion, the following resolution was passed: <br />1. The Board finds that the Cobb Lake inlet project is an appropriate and proper undertaking to <br />preserve the Cobb Lake operation and is in the best interest of the Company that it be pursued. <br />2. CWCB is the most appropriate source of funds. Wherefore, company council, engineer and such <br />other personnel and expertise, as they deem needed, are to proceed with the completion of a <br />project feasibility study and application to CWCB for the Cobb Lake Inlet project with a total <br />project cost not to exceed $1,500,000. <br />Company President, Barry Anderson, is authorized to sign all documents necessary to pursue the loan <br />obtainment on terms that are the best available from CWCB. <br />There was no further business, so the meeting was adjourned. <br />PRES. <br />RECORD OF PROCEEDINGS <br />�' , � SEC. <br />� <br />