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South Dakota Public Utilities Commission Meeting
Wednesday, February 14, 2001; 2:30 P.M.
State Capitol Building, Public Utilities Commission, Cactus Conference Room
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; Staff Attorneys Karen Cremer and Kelly Frazier; Utility Analysts Dave Jacobson, Heather Forney, Keith Senger, Martin Bettmann and Michele Farris; Assistant Executive Director Sue Cichos; and Administrative Secretary Mary Giddings.
Also present were Jim Wilcox, Xcel Energy; Kevin Kouba, Otter Tail Power; Bob Miller, SD Electric Utility Companies; and Nettie H. Myers, Utility Shareholders of SD.
Joining the meeting by telephone were Kyle White, John Nooney, Steve Helmer and Mark Thies, Black Hills Power, Inc.
John Nooney, Black Hills Power, Inc., explained the request for the waiver of limitations to incur short-term indebtedness. Ms. Forney recommended that Black Hills Power, Inc. not be subject to any short-term limitations prior to September 2, 2001; after that date, short-term indebtedness would be limited to not more than 30% of Black Hills Power, Inc.'s total capitalization. Kyle White and Mark Thies, Black Hills Power, Inc. explained that the requested credit should be tied to the assets of the holding company but is tied to Black Hills Power, Inc. because lending institutions wanted to stay with the original borrowing parties. Black Hills Power, Inc. is a fast growing company, making it difficult to predict what percentage would be required so an unlimited amount was requested.
Chairman Burg moved to approve the application of Black Hills Power, Inc. to incur unlimited short-term debt prior to September 2, 2001, and after that date, be obligated to not more than 30% of Black Hills Power, Inc.'s total capitalization. Commissioner Nelson seconded and Commissioner Schoenfelder concurred. Motion passed 3-0.
Mary R. Giddings, Executive Secretary