September 15, 2007 - Board Minutes

Minutes of a SPECIAL MEETING of the BOARD OF DIRECTORS held on 15 September 2007 in the CRTV Board Room, 500 Robron Rd., Campbell River, BC.

Archived Board Minutes

PRESENT: J. Kerr, R. Kerr, L. Marshal, K. Croft, S. Sinnott, and B. Henshall.
ALSO PRESENT: Jim Forsyth, General Manager, G. Griffin, CIBC

                               
1.  Call to Order at 8:42 am.

The manager updated the Board on the status of the Strategic Analysis Communications Plan.

Issues on today's agenda include Rate Increase, Bylaw Changes and the three options available to CRTV per the Strategic Business Analysis.

The key is justification of the rate increase to CRTV members. The manager noted that a comparative analogue rate table had been prepared and would be released to the local media on the 19 September 07. It was also noted that a general piece on the justification on the forthcoming rate increase will be put together.

The following talking points were discussed and are to be expanded upon:
   - Remaining Competitive
   - Cost of Digital
   - Convergence (Telephone)
   - Entertainment on Demand
   - Current with Technology
   - Infrastructure renewal & upgrade
   - Members affordability.

The manager was instructed to seek legal input in determining what Bylaw changes may or may not be required for future membership meetings. The following draft bylaw was proposed by B. Henshall for review by legal counsel:

"A general meeting of the members may authorize the CRTV Board of Directors to offer CRTV for sale. This decision requires a 67% of those regular members present"; also, the following additional information may be required as part of the motion " Any agreement reached by the Board of Directors is binding on the members".

It was also determined that the manager review with counsel additional bylaw wording on pledging CRTV's assets for financing purposes.

What constitutes due diligence on behalf of the Board was discussed. It was determined that to make sure to the best of our knowledge we do the best for the members.

Moved by R. Kerr, seconded by B. Henshall:That the General Manager proceed on obtaining an estimate of the market value of CRTV in the broadest sense.
CARRIED UNANIMOUSLY
   ** Discussion ensued such that the estimate should include past experience and future risks to the value of CRTV.**

8.  ADJOURNMENT:

Moved by S. Sinnott, seconded by B. Henshall : THAT the meeting be adjourned at 10:55 a.m.
CARRIED.

Next Regular Meeting: Tuesday 1 October 2007 at 5:00 pm

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