A Special Board Meeting was held May 27, 2008, for the purpose of selecting financing for the Drop Structure repair and consideration of a 2025 Grant Request.

The meeting was called to order by Chairman Charles Miller at 7:12 p.m. with Directors Locke and Jeppeson in attendance.

The 25 year financing package prepared by Wedbush Morgan through the SDAO FlexLease Program was reviewed and options for early pay-off were considered. After the discussion Director Jeppeson moved to proceed with obtaining the 25 year FlexLease financing plan. Director Locke seconded the motion. The motion passed with all present voting in the affirmative.

A Resolution to Participate in the Application for a 2025 Grant Program for Piping of the "I" Line was read and discussed. Director Jeppeson moved to sign the Resolution to Participate in the Application for a 2025 Grant Program for Piping of the "I" Line. Director Locke seconded the motion. The motion passed unanimously with all present voting yes.

With no further business to come before the Special Meeting, Chairman Miller adjourned the meeting at 7:38 p.m.

_______________________________             ________________________________

Charles Miller                                                      Chuck Wilcox

Chairman                                                             Secretary

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