Selection of Insurance Broker
The Board selected Lockton Companies, LLC to provide property and casualty insurance broker services to the District for a period not to exceed five years as well as employee benefits.

System Development Funds
The Board directed staff to reserve $1,300,000 from the System Development Fund to the Master Plan Phase V Reserves.

Water System General Fund
The Board directed staff to reserve $3,850,000 in the Water System General Fund to be allocated as follows:

• $350,000 to increase Negative Cash Flow Reserve from $6.15 million to $6.5 million
• $250,000 to increase Section 703 Bond Resolution as budgeted
• $3,250,000 to provide initial funding to the Rate Stabilization Reserve

Amendment to Board Policy
The Board approved amendments to Board Policy No. 11, Subjects Requiring Board Approval.

Investment Policy
The Board approved a Bond and Operating Fund Investment Policy.

Board Policy No. 34
The Board adopted Board Policy 34, Negative Cash Flow Reserves.

Transfer
The Board approved staff to:

• Release $1,000,000 of Master Plan System Development Fund Reserves Phase IV to be transferred to the Master Plan Phase V System Development Fund Reserves
• Move two projects with associated funding, scheduled to be awarded late in 2007, from Phase IV-B Phase V Master Plan.

Public Sale of 2007 Bonds
The Board adopted a resolution prepared by Bond Counsel, Kutak Rock, related to authorizing the Water Revenue Bonds, Series 2007 to be offered at competitive public sale.

Award of Contract
The Board awarded a contract for Re-staining and Repainting the Missouri River Presed Buildings to MVP Painting, the lowest, qualified, responsible and responsive bidder, in the amount of $190,000.00

Reject of Bids
The Board rejected all bids received for the Ammonia System Improvements and Cleaning and Inspection of Existing Aqua Ammonia Storage Tank at Facility 2.  The Board also rejected all bids received for Painting Electrical Substations.