NOTICE OF INTERMOUNTAIN POWER AGENCY
BOARD OF DIRECTORS MEETING
THE INTERMOUNTAIN POWER AGENCY (IPA) BOARD OF DIRECTORS WILL CONVENE A MEETING OF THE BOARD ON MONDAY, MAY 19, 2025, FROM 9:00 A.M. TO 10:00 A.M. MDT, RECONVENING AT 12:30 P.M. MDT (TIMES ARE APPROXIMATE), AT THE INTERMOUNTAIN POWER GENERATING STATION, 850 WEST BRUSH WELLMAN ROAD, DELTA, UTAH 84624, AND VIA ZOOM.
ZOOM MEETING LINK:
https://us02web.zoom.us/j//9843637279
Meeting ID: 984 363 7279
Dial-in Number: (669) 900-9128
THE INTERMOUNTAIN POWER GENERATING STATION IS A SECURED ACCESS SITE. MEMBERS OF THE PUBLIC WHO WISH TO ATTEND THE MEETING IN PERSON MUST BRING A GOVERNMENT-ISSUED ID CARD AS PROOF OF IDENTITY. PERSONS REQUIRING ACCOMMODATION, INCLUDING IN RELATION TO ACCESSABILITY, MUST CONTACT IPA BY EMAIL CAITLYN@IPAUTAH.COM OR PHONE 801-938-1333 NO LATER THAN 5:00 P.M. FRIDAY, MAY 16, 2025, TO PROVIDE NOTICE OF THE NEED FOR SUCH ACCOMODATION.
A G E N D A
1. INTRODUCTIONS AND ANNOUNCEMENTS (NICK TATTON, BOARD CHAIR)
- IPA BOARD CHAIR ITEMS
- BOARD COMMITTEE REPORTS
2. IPA MANAGEMENT REPORTS
- GENERAL MANAGER (CAMERON COWAN): UPDATE ON IPA FINANCIAL AND OPERATING CONDITIONS, RESULTS AND PLANS
- ASSISTANT GENERAL MANAGER (BLAINE HAACKE): REPORT ON ACTIVITIES RELATED TO IPP RENEWED
- ACCOUNTING MANAGER (LINFORD JENSEN): UPDATE ON FINANCIAL CONDITION AND RESULTS AND OUTSIDE AUDITOR ACTIVITIES
- TREASURY MANAGER (VANCE HUNTLEY): UPDATE ON DEBT SERVICE, INVESTMENT OF FUNDS AND FUNDING NEEDS
- AUDIT MANAGER (CODY COMBE): UPDATE ON COMPLETED, ONGOING AND PLANNED AUDITS
3. ENGINEERING REPORT (SAIF MOGRI)
4. OPERATING AGENT AND PROJECT MANAGER Q&A (KEVIN PENG/LORI MORRISH)
- POTENTIAL DISCUSSION OF IPP SUBCOMMITTEE ACTIVITIES
- POTENTIAL DISCUSSION OF OPERATING CONDITIONS AND RESULTS
- POTENTIAL DISCUSSION OF CONSTRUCTION ACTIVITIES
- POTENTIAL DISCUSSION OF IPP RENEWED
5. RESOLUTION IPA-2025-008
CONSIDERATION OF APPROVAL AND ADOPTION OF INTERMOUNTAIN POWER AGENCY ANNUAL BUDGET FOR FISCAL YEAR 2025-2026 (KEVIN PENG)
6. RESOLUTION IPA-2025-009
CONSIDERATION OF APPROVAL OF DELEGATION OF AUTHORITY TO NEGOTIATE AND EXECUTE CERTAIN AGREEMENTS ON BEHALF OF INTERMOUNTAIN POWER AGENCY (KEVIN PENG)
7. RESOLUTION IPA-2025-010
CONSIDERATION OF AUTHORIZATION TO EXECUTE AGREEMENTS FOR PROJECT CONTROL PERSONNEL AND SITE SUPPORT PERSONNEL (INTERMOUNTAIN GENERATION STATION) (KEVIN PENG)
8. RESOLUTION IPA-2025-011
CONSIDERATION OF APPROVAL OF INCREASE IN EXPENDITURE AUTHORITY UNDER AGREEMENT NO. R22-007 (REMEDIAL ACTION SCHEME) (KEVIN PENG)
9. RESOLUTION IPA-2025-012
CONSIDERATION OF APPROVAL OF DELEGATION OF AUTHORITY TO DETERMINE DATE OF FIRM OPERATION (KEVIN PENG)
10. RESOLUTION IPA-2025-013
CONSIDERATION OF APPROVAL OF INCREASE IN EXPENDITURE AUTHORITY UNDER AGREEMENT NO. 51559 (PROCEDURES AND TRAINING) (KEVIN PENG)
11. RESOLUTION IPA-2025-014
CONSIDERATION OF AUTHORIZATION TO EXECUTE GENERATOR INJECTION RIGHTS AGREEMENTS AND INTERCONNECTED OPERATING PROTOCOLS AND PROCEDURES AGREEMENT (MILFORD III AND CAPE STATION) (KEVIN PENG)
12. RESOLUTION IPA-2025-015
CONSIDERATION OF ADOPTION OF AMENDMENT TO THE PRE-FUNDING PLAN (KEVIN PENG)
13. RESOLUTION IPA-2025-016
CONSIDERATION OF APPROVAL AND ADOPTION OF IPA ELEVENTH SUBORDINATED INDEBTEDNESS NOTE RESOLUTION (VANCE HUNTLEY)
14. POTENTIAL CONSIDERATION OF CLOSED MEETING, INCLUDING, WITHOUT LIMITATION, A TOUR OF THE GENERATING FACILITIES OF THE INTERMOUNTAIN POWER GENERATING STATION, FOR ONE OR MORE OF THE FOLLOWING PURPOSES:
- CONDUCT A STRATEGY SESSION TO DISCUSS MARKET CONDITIONS RELEVANT TO A BUSINESS DECISION REGARDING THE VALUE OF AN IPA ASSET IF THE TERMS OF THE BUSINESS DECISION ARE PUBLICLY DISCLOSED BEFORE THE DECISION IS FINALIZED AND A PUBLIC DISCUSSION WOULD: (A) DISCLOSE THE APPRAISAL OR ESTIMATED VALUE OF THE IPA ASSET UNDER CONSIDERATION; OR (B) PREVENT IPA FROM COMPLETING ON THE BEST POSSIBLE TERMS A CONTEMPLATED TRANSACTION CONCERNING THE IPA ASSET;
- DISCUSS A RECORD, THE DISCLOSURE OF WHICH COULD CAUSE COMMERCIAL INJURY TO, OR CONFER A COMPETITIVE ADVANTAGE UPON A POTENTIAL OR ACTUAL COMPETITOR OF, IPA;
- DISCUSS A BUSINESS DECISION, THE DISCLOSURE OF WHICH COULD CAUSE COMMERCIAL INJURY TO, OR CONFER A COMPETITIVE ADVANTAGE UPON A POTENTIAL OR ACTUAL COMPETITOR OF, IPA; AND
- DISCUSS A MATTER, THE DISCUSSION OF WHICH OUTSIDE A CLOSED MEETING WOULD PREVENT IPA FROM GETTING THE BEST PRICE ON THE MARKET.
15. ADJOURN
16. TIME AND PLACE OF NEXT SCHEDULED MEETING
1:00 P.M. MDT
MONDAY, JULY 21, 2025
IPA OFFICE
10653 S. RIVER FRONT PARKWAY, SUITE 120
SOUTH JORDAN, UT 84095
Notice of Special Accommodations (ADA)
For individuals needing special assistance during the meetings, please contact Caitlyn Cottrell at 801-938-1333.