12-15-2017, 05:50 PM
The FC had the Umpqua propsal on Nov 28 at a special FC meeting. Chris went over it.
The FC had a full discusion re this initial proposal.
The formal indenture and supporting documents came to us in December 6 or 7, the date on the indenture is December 6. Lori sent all 5 documents to us on December 8th.
The time limit is the banks, not ours. Time is always of the essence with financial instruments with a baked-in interest rate. You snooze you lose!
The FC can schedule a special meeting and review, make a recommendation, before the crucial December 20th Board Mereting.
The FC per bylaws is only required to have 3 meetings a year. Advisory panel only.
The FC had a full discusion re this initial proposal.
The formal indenture and supporting documents came to us in December 6 or 7, the date on the indenture is December 6. Lori sent all 5 documents to us on December 8th.
The time limit is the banks, not ours. Time is always of the essence with financial instruments with a baked-in interest rate. You snooze you lose!
The FC can schedule a special meeting and review, make a recommendation, before the crucial December 20th Board Mereting.
The FC per bylaws is only required to have 3 meetings a year. Advisory panel only.