2015 Annual Meeting Minutes

Minutes of the 76th Annual Meeting of Members
Eagle Valley High School in Gypsum, Colorado

June 4, 2015

The 76th Annual Meeting of Members of Holy Cross Energy, a Colorado corporation (hereinafter called “Holy Cross”), was held at the Eagle Valley High School at 641 Valley Road, Gypsum, in Eagle County, Colorado, commencing at 6:30 p.m. on Thursday, June 4, 2015.

Prior to the commencement of the meeting, a dinner buffet was served.

The Annual Meeting of Members was called to order by President Michael A. Glass at 6:24 p.m., and Robert H. Gardner acted as Assistant Secretary. Mr. Glass introduced the other members of the Board of Directors: David C. Munk, Robert H. Gardner, Adam L. Palmer, Megan M. Gilman and Kristen N. Bertuglia. Secretary and Director Lynn E. Dwyer was unable to attend.

The President introduced certain guests who were present: Mike Prom, CEO of Western United Electric Supply Corporation; Kent Singer, Executive Director of Colorado Rural Electric Association; Tom Turnbull, former Director of Holy Cross Energy; Andy Glover, Vice President of CoBank; John Svensk, Wholesale Account Manager for Xcel Energy; Jim Sack, Wholesale Account Manager for Xcel Energy; Jeff Klein, Manager of Structured Purchases for Xcel Energy; Diane Mitsch Bush, State Representative of District 26; and David L. Eves, President of Public Service Company of Colorado.

The President then introduced corporate legal counsel for Holy Cross, Randolph W. Starr, who announced that 70 Members of Holy Cross were present which constituted a quorum for the conduct of business under the Holy Cross Bylaws. Upon motion duly made and seconded, the Membership unanimously voted to waive the reading of the Proof of Service of the Notice of the Annual Meeting of Members.

Mr. Starr asked that the President direct that the Proof of Service of the Notice of the Annual Meeting of Members be annexed to the Minutes of the Meeting. The Proof of Service verified that the Notice of the Meeting was mailed out in a time that was sufficient for the purposes of the Meeting to all of the Members of Holy Cross, and that the Notice of Right to Nominate had been duly and regularly published.

Mr. Starr also announced that the terms of three of the Directors on the Board of Directors had expired, and that there were two seats in the Northern District up for election and one seat in the Southern District up for election. Mr. Starr announced that only one candidate submitted a petition for nomination to each seat and under the Bylaws of Holy Cross Mr. Starr declared that the unopposed candidate for each seat was elected. Those candidates were Adam L. Palmer, Kristen N. Bertuglia and Robert H. Gardner.

Mr. David L. Eves, President of Public Service Company of Colorado gave a talk on the electric industry.

Mr. Glass then gave the President’s report to the Membership.

The President then introduced Chief Financial Officer Tim Charlton who gave a financial report to the Members.

The President then introduced Chief Executive Officer Del Worley who gave the CEO report to the Members.

The President, Chief Executive Officer, Board and Staff were then available to answer questions from the audience.

Director Robert H. Gardner gave a report on the Holy Cross Energy Round-Up Foundation and its distribution of funds.

There being no further business to come before the Members, the meeting was adjourned at 7:38 p.m. At the conclusion of the meeting, a drawing for door prizes was held.

Printable PDF of the Annual Meeting Minutes for 2015

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