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South Dakota Public Utilities Commission Meeting
Monday, July 10, 2000; 2:00 P.M.
Commission Conference Room, State Capitol Building
Pierre, South Dakota
MINUTES OF THE AD HOC MEETING
Chairman Jim Burg called the meeting to order. Present were Commissioner Pam Nelson; Commissioner Laska Schoenfelder; Executive Director Bill Bullard; Commission Advisor Greg Rislov; Commission Counsel Rolayne Ailts Wiest; Deputy Executive Director Sue Cichos; Staff Attorney Karen Cremer; Transportation/Warehouse Director Bob Knadle; Utility Analyst Keith Senger; and Administrative Secretary Mary Giddings.
Also present were Darrell D. Cruea and Jim Robbennolt, Wheetco, Inc.
1. GD00-001 IN THE MATTER OF THE APPLICATION OF WHEETCO, INC. FOR A GRAIN DEALER LICENSE AND SETTING THE AMOUNT OF APPLICANT'S BOND. (Transportation/Warehouse Director: Bob Knadle. Staff Attorney: Karen Cremer.)
Commission Staff responded to questions from the Commissioners. After the motion was passed, Jim Robbennolt, representing Wheetco, Inc., assured the Commission that he would convey the Commissioner's concern that the conditions in the motion be adhered to strictly.
Commissioner Schoenfelder moved that the $75,000 Certificate of Deposit can be considered an asset. She further moved that a grain dealer's license be granted with the following conditions:
1) No new purchase of grain unless paid for in cash at the time of delivery;
2) Weekly reports to the Commission of any new grain purchases, including type of grain, date of purchase and producer's name;
3) If no additional financing has been secured within six weeks, Wheetco, Inc. must appear before the Commission again to determine whether the license should be revoked or suspended;
4) Filing of financial plan (can be filed as confidential);
5) Weekly statement of progress on financial plan;
6) Bi-weekly financial updates;
7) If additional financing is received, written proof of financing from lender.
Chairman Burg seconded. Commissioner Nelson dissented. Motion passed 2-1.
Mary R. Giddings