HPP Biz

[mermaid53]

quote:

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Originally posted by Makona84

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.

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Good morning JF. If you're going to post about this topic, it'd be ethical to give accurate info. This is exactly why there are suspicions of reckless activity going on w/an item way too important.

The treasurer and GM gave the FC a LOAN proposal at that Special FC mtg, NOT Bond info. Don, NOT Chris, went thoroughly over the LOAN proposal NOT Bond.
The treasurer DID NOT send any documents to the FC about the Bond and had intended to bypass the FC. Evidence also is the lack of this item on the following FC mtg's agenda. The Bond item was added to the FC agenda by an FC member as it was not on the agenda created by the treasurer....again was excluding the FC. While discussing the Bond and asking questions, the treasurer, the FC Chair, walked out on the meeting. The GM was conveniently absent so there was NO ONE giving info to the FC.

Good thing the FC voted to have monthly meetings from now on. Too many important contracts and business decisions were being made w/out FC oversight w/the 3 x's a yr minimum required FC mtgs.