PUD discussesfinancing, other issues

The Wahkiakum PUD Board of Commissioners met Tuesday in a relatively low key session.

Manager Dave Tramblie told the board that he and Commissioner Larry Reese attended the Public Power Council Meeting on February 7. Topics of discussion included regional dialogue, residential exchange and Bonneville Power Administration’s financial status. He told the board BPA appears to be in good standing, however if they wanted details, they should check out BPA’s website.

Tramblie said he and Auditor Erin Wilson discussed the possibility of loaning the money for the SR 409 project to themselves as opposed to borrowing money from a bank or other entity and paying interest. He said that over 20 years, the interest paid would be around $800,000 for a $400,000 loan, so instead of paying that amount to a bank, the money would go back to the rate payers.

Commissioner Robert Jungers asked how far that would draw down the cash reserves in electric. Tramblie said depending how much is borrowed; the worst case scenario is $400,000. Jungers wanted to be sure that there is still a cushion for the new substation. Tramblie said he believed there would be.

In other business, Tramblie asked the board to consider a program to give a local high school student a summer job. Jungers joked that Tramblie must have been reading his trade journal, but added that he thought the idea was excellent. Tramblie said the cost should be minimal, but he and Wilson would look into it. Commissioner Esther Gregg said that there would be no benefits.

Tramblie told the board that the 200 meters for the Western Wahkiakum Water System (WWWS) have been ordered and were on the way. Jungers asked how long it would take for the meters to be installed; Tramblie said it should take about a month if they install 10 per day.

The next PUD meeting is scheduled for March 4 at 8:30 a.m.