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Tuesday; January 27, 2009; 2:00 p.m.

Regular Meeting of the Board of Directors Of

South Feather Water and Power Agency

Board Room, 2310 Oro-Quincy Highway, Oroville, CA

A.		Pledge of Allegiance

B.		Roll Call

C.		Approval of Minutes
		Ä	Regular Meeting on November 25, 2008

D.		Approval of Warrants
		Ä	Water Division expenditures for $390,592.86
		Ä	Power Division expenditures for $411,505.36

E.		Public Participation
			Individuals will be given an opportunity to address the Board regarding matters within the Agency's jurisdiction that are not scheduled on the agenda, although the Board cannot take action on any matter not on the agenda. Comments will be limited to 5 minutes per speaker. Opportunity for public comment on agenda items will be provided at the time they are discussed by the Board. Comments will be limited to 5 minutes per agenda item.

F.		Staff Reports
		Ä	Power Division Manager
		Ä	Finance Division Manager
		Ä	Water Division Manager
		Ä	General Manager

G.		Director's Reports
			Directors may make brief announcements or reports for the purpose of providing information to the public or staff, or to schedule a matter for a future meeting. The Board cannot take action on any matter not on the agenda and will refrain from entering into discussion that would constitute action, direction or policy, until such time as the matter is placed on the agenda of a properly publicized and convened Board meeting.

H.		Business
		Ä	GASB 45 Actuarial Report
			l	Review of actuarial consultant's report on outstanding and future liabilities of its Other (than pension) Post-Employment Benefits (OPEB), as required by the Governmental Accounting Standards Board (GASB) Statements 45.
		Ä	2009 Power Division Budget
			l	Approval of the 2009 Power Division Budget.
		Ä	Forbestown Diversion Sediment Removal Project
			l	Action to approve an agreement with PG&E for dredging services at Forbestown Diversion.
		Ä	Line of Credit
			l	Action to approve a $1 million line of credit (loan) with Tri-Counties Bank.
		Ä	Board Reorganization for 2009
			l	Action to elect officers for the Board of Directors, to take effect January 1, 2009.
		Ä	Closed Session. Conference with Legal Counsel - Anticipated Litigation
			l	Government Code §54956.9 – One potential case.
		Ä	Closed Session. Conference Real Property with Labor Negotiator
			l	Government Code §54956.8. Property: Conserved water. Agency Negotiator: Michael Glaze, General Manager. Negotiating Party: Palmdale Water District. Under Negotiation: Price, quantity, refill requirements, conditions for transfer, and terms of payment.
		Ä	Closed Session. Conference with Labor Negotiator.
			l	Government Code §54957.6. Agency-designated representatives: Michael Glaze, General Manager; and, Jeffrey Meith, Legal Counsel. Employee Organizations: Water Treatment & Distribution Employees Unit; Hydropower Generation Employees Unit; and, Management & Professional Employees Unit.
		Ä	Annual Negotiations with Employee Bargaining Units
			l	Action to ratify tentative agreements negotiated with the Water Treatment and Distribution Employees Unit, the Hydropower Generation Employees Unit, the Management and Professional Employees Unit, and the Finance Division Manager.

I.		Adjournment