Action items are discussed at the Board Committee Meeting (2nd ...

10. Plus/Delta Evaluation page(s) 2811. Adjourn to Executive SessionMotion by __________, seconded by __________, to adjourn to Executive Session todiscuss Wis. Stats. 19.85(1)(c) – considering employment, promotion, compensation orperformance evaluation data of any public employee over which the governmental bodyhas jurisdiction or exercises responsibility.12. Adjournmentc: College Faculty and Staff, Teachers Union, Local 2398, Steve Weld, Paul Gabriel, Dan Clancy, NewsMedia CVTC DistrictPosted: 8/912: Chippewa Valley Technical College—Chippewa Falls Campus, Eau Claire Campus,Menomonie Campus, Neillsville Center, and River Falls Campus.Special accommodations for people with disabilities will be made for the Public Board meetings. Please callCandy Johnson, 715-833-6500, to request accommodations 24 hours in advance of the meeting.Chippewa Valley Technical College, 620 West Clairemont Avenue, Eau Claire, WI 54701, 715-833-6500President: Bruce A. Barker3

SUGGESTED RESOLUTIONS – REGULAR MEETING – August 16, 2012Item 5 – Consent AgendaMotion by __________, seconded by __________, that the following resolution be adopted:BE IT RESOLVED by the Chippewa Valley Technical College District Board that thefollowing consent agenda items are approved as presented and recommended:Minutes of the July 9, 2012, Regular meeting.Personnel Matters – Employment: Adjunct Instructors as listed; Suzanne Blau, BusinessTechnology Trainer/Consultant, 07/01/12; Matt Bloss, Developmental Math Instructor,08/09/2012; Jason Bostrom, Senior Systems Analyst, 08/27/2012; Eric Brusky, IT NetworkSpecialist Instructor, 08/09/2012; Tam Burgau, Human Resources Director 8/22/12; TerrieCurrie, Nursing Instructor, 08/09/12; Stephanie Falch, Customer Service Representative08/09/12; Myrissa Fulgione, Customer Service Representative 08/09/12; James Girard, EPDinstructor, 08/09/2012; Donald Gehrmann, Welding Instructor, 08/09/2012; Erick Hassel, AutoCollision Repair and Refinish Instructor, 08/09/2012; Danielle Madda-Garvey, Nursing AssistantInstructor08/09/12; Allison Niemann, Nursing Instructor, 08/09/12; Eric Niemi, DevelopmentalWriting Instructor, 08/13/2012; Helen Nysven, Dental Office Assistant, 08/03/12; JonathanPepper, Customer Service Representative 08/09/12; Vicki Scheffler, Nursing AssistantInstructor, 08/09/12; and James Scheide AC/Heating and Refrigeration Technology Instructor,08/09/12. Resignations: Doug Rhoten, Web Developer/Administrator, 8/29/12 and MichaelKren, System Mgt. & Configuration Administrator, 8/31/12Financial Report: Payroll Direct Deposit in the amount of $1,782,447.27; Accounts PayableChecks in the amount of $2,437,284.56; Refund Disbursements in the amount of $74,705.43;Financial Aid Disbursements in the amount of $286,437.12; Bank Transfers in the amount of$1,626,351.19; and Direct Deposit Travel in the amount of $20,183.32 drawn on the ChippewaValley Technical College District for the various amounts, the Financial Reports for July 2012 aspresented.Twenty (20) contracts for services are approved as recommended and presented on theattached list._____Bucheger _____ Mathews _____Vogler_____Hagness _____ Ratsch _____Bates_____Kucera _____ Southard _____Brummeyer4

Item 6A – Approval of College Policy: Post Issuance Tax ComplianceMotion by __________, seconded by __________, that the following resolution be adopted:BE IT RESOLVED that the Chippewa Valley Technical College District Board approvesthe College Policy: Post Issuance Tax Compliance as presented._____Bucheger _____ Mathews _____Vogler_____Hagness _____ Ratsch _____Bates_____Kucera _____ Southard _____Brummeyer5

ITEM 5A – MINUTESORGANIZATIONAL AND REGULAR MEETING OF THECHIPPEWA VALLEY TECHNICAL COLLEGE DISTRICT BOARDJuly 9, 2012The organizational and regular meeting was called to order at 9:01 a.m. by Board MemberRamona Mathews. She indicated this was an open meeting with notices mailed to the newsmedia and other interested parties and posted at the Chippewa Valley Technical Collegecampuses/centers in Chippewa Falls, Eau Claire, Menomonie, River Falls, and Neillsville onJuly 2, 2011.1. Roll Call: Present: Colleen Bates, Gary Brummeyer, Frances Bucheger (arrived at 9:03a.m.), Larry Hagness, Judy Kucera, Ramona Mathews, Russell Ratsch, Gwen Southard,and Jennifer Vogler.Also present: Bruce Barker, Tom Huffcutt, Margo Keys, Candy Johnson, Kirk Moist,Margaret Dickens, Doug Olson, Jon Brutlag, and Tom Lange.2. Motion by Ms. Kucera, seconded by Mr. Hagness, to approve the agenda as presented.Ayes: All. Nays: None. Motion carried.Organizational MeetingA. Oaths of Office were signed by Board members Ratsch, Southard, and Vogler.B. Election of Officers(1) Chairperson. Mr. Hagness nominated Mr. Brummeyer as chairperson; Ms.Mathews seconded the nomination. Following three requests for furthernominations and hearing none, Ms. Bates moved, seconded by Ms. Kucera, thatnominations be closed and that a unanimous ballot be cast for Mr. Brummeyer aschairperson of the Board. Ayes: All. Nays: None. Motion carried.(Mr. Bucheger arrived at 9:03 a.m.)(2) Vice-Chairperson. Ms. Mathews nominated Ms. Southard as vice chairperson;Ms. Bates seconded the nomination. Following three requests for furthernominations and hearing none, Ms. Bates moved, seconded by Ms. Kucera, thatnominations be closed and that a unanimous ballot be cast for Ms. Southard asvice chairperson of the Board. Ayes: All. Nays: None. Motion carried.(3) Secretary. Ms. Southard nominated Ms. Mathews as secretary; Ms. Kuceraseconded the nomination. Following three requests for further nominations andhearing none, Ms. Bates moved, seconded by Ms. Kucera, that nominations beclosed and that a unanimous ballot be cast for Ms. Mathews as secretary of theBoard. Ayes: All. Nays: None. Motion carried.(4) Treasurer. Ms. Southard nominated Ms. Kucera as treasurer; Ms. Mathewsseconded the nomination. Following three requests for further nominations and6

hearing none, Ms. Bates moved, seconded by Mr. Ratsch, that nominations beclosed and that a unanimous ballot be cast for Ms. Kucera as treasurer of theBoard. Ayes: All. Nays: None. Motion carried.C. Public Depository Designation – Mr. Barker explained that this is a standard resolutionthat is passed each year. Motion by Ms. Mathews, seconded by Mr. Bucheger, that thefollowing resolution be adopted:BE IT RESOLVED by the Chippewa Valley Technical College District Board thatU.S. Bank, National Association, qualified as a public depository under Chapter 34 of theWisconsin Statutes, shall be and is hereby designated, until further action, as a publicdepository for all public monies into the hands of the treasurer of the Chippewa ValleyTechnical College District, Eau Claire County, State of Wisconsin, andBE IT FURTHER RESOLVED that withdrawal or disbursement from the abovenameddepository shall be as provided in s.66.042 of the Wisconsin Statutes; that inaccordance therewith, all checks shall be signed by the following persons: Gary R.Brummeyer, Chairperson; Judith A. Kucera, Treasurer; and Ramona J. Mathews,Secretary; and shall be so honored, andBE IT FURTHER RESOLVED, that in lieu of their personal signature(s), thefollowing facsimile signatures, which have been adopted by them as shown below/s/ Gary R. Brummeyer/s/ Judith A. Kucera/s/ Ramona J. Mathewsmay be affixed on such order check(s); that the above-named depository shall be fullywarranted and protected in making payment on any order check bearing suchfacsimile(s) notwithstanding that the name may have been placed thereon without theauthority of the designated person or persons; andBE IT FURTHER RESOLVED that a certified copy of this resolution shall bedelivered to the above-named depository, and said depository may rely on this resolutionuntil changed by lawful resolution and a certified copy of such resolution has been givento the Cashier of the above-named depository. Ayes: All. Nays: None. Motion carried.D. Mr. Barker reviewed the Board memberships: Association of Community CollegeTrustees, Wisconsin Technical College District Boards Association, and the Alliance forStrong Communities. Discussion occurred about the merits of continuing membership inthe Alliance for Strong Communities. This will be a retreat topic.E. Representatives for Committees of the WTC District Boards Association(1) Board of Directors Delegate 2011-13 – Mona Mathews (serving 2 nd year of a twoyearterm).(2) Standing Committees:Legislative: Southard; Hagness/Ratsch-AlternateHuman Resources: Kucera; Brummeyer-AlternateProgram: Vogler; Brummeyer-Alternate7

ITEM 5B – PERSONNEL MATTERSChippewa Valley Technical CollegeAdjunct Instructors to be Employed for Classes That Begin08/01/2012 Through 12/31/2012Adjunct Hourly InstructorsAgas, Gloria Harris Gore, Lisa Rasmussen, WilliamAndersen, John Harris, Jennifer Reese, SusanAnderson, Ronald Henderson, Melissa Rothbauer-Wanish, HeatherBammert, Francis Hendrickson, Duane Ruppe, AngelaBarth, Patrice Henricks, Edgar Schommer, PaulBembnister, Thomas Horn, Jeffery Schreiner, AmyBentley, Louise Husom, Lisa Schultz-Schmelzer, ReneeBerg, Brook Jacobson, Robert Schwartz, KristinaBerg, Mary Jensen, Brian Scovil, SaraBerzins, Mabel Jevne, Anita Segelken, JanetBiesterveld, James Johnson, Holly Shervey, RandyBockenfeld, James Johnson, Lynda Shervey, RebeccaBorgen, Katrina Johnson, Shelly Shilts, DonaldBoylan, Jennifer Kono, Melissa Simington, KarenBurkart, Scott Kulasiewicz, Jennifer Sorenson, JamesCarr, Robert LaFaive, Scot Sperry, JedCavanaugh, Daniel Lane, Larry Spetz, JasonChristenson, James Laska, Michael Steinke, JenniferCrank, Randall Lillo, Dorothy Stewart, MargieDachel, Benjamin Lor, La Strehlo, TinaDahl, Susan Martenson, John Sutton, RobertDevine, Thomas Massey, Robert Swanson, LisaDixon, Pamela Maulucci, Paul Swoboda, ErinDwyer, James Meyer, Lori Taylor, KevinErtz, Kathleen Ming, Jason Thran, DeanneEvenson, Jacqueline Morris, Martin Thrun, ChristinaFelix, Priscilla Neihart, John Trubshaw, T. StevenFrey, Robert Nessel, Kimberly Turner, ChrisGanske, Lawrence Ouda, Heba Tylee, LindaGeer, Barbara Paulson, James Urhammer, AngelaGrant, Jennifer Peper, Carrie Warner, ColeGunderson, Stacy Peterson-Meyer, DeeAnne Weaver, HarrietHaar, Burl Pettit, Jennifer Whelan, ChristopherHanson, Virginia Phillipson, Kristen Withers, JamesHarmon, Cynthia Pickerign, Lizabeth Young, TanyaZukaitis, LaurieCount = 10611

Allison, EstherAnderson, ArlynAnibas, JudithBruns, TroyBuck, JuliaChilds, KellyCollis, RuthFlackey, JosephFleming, CynthiaGerrits, BrianAdjunct Salary InstructorsKiefer, AnnLarson, ConstanceMerryfield, RickeyMeyer, JenniferNickels, MichaelPettis, JefferySchumacher, DeborahSeverson, EmilyShepardson, MarySinz, RobertCount = 2012

ITEM 5C – FINANCIAL REPORTSCHIPPEWA VALLEY TECHNICAL COLLEGE07/31/12PAYROLLPay Date Payroll Number Net PayElectronic Payments 7/13/2012 14 $ 898,927.79Electronic Payments 7/27/2012 15 883,519.48Electronic PaymentsTotal Net Pay $ 1,782,447.27BANK TRANSFERSDate Transfer Number Transfer TotalsIRS - 941 deposit 7/2/2012 2974 $ 367,076.83WDR - Withholdings 7/15/2012 2975 79,257.87BPA Administrative Fees 7/15/2012 2976 1,590.55IRS - 941 deposit 7/16/2012 2977 352,489.76WI DOR 7/17/2012 2978 1,052.98DWD Unemployment Insurance 7/25/2012 2979 1,771.23IRS - 941 deposit 7/30/2012 2980 337,774.77WDR - Withholdings 7/31/2012 2981 75,786.52Wisconsin Retirement System (WRS) 7/31/2012 2982 409,550.68Total $ 1,626,351.19FINANCIAL AIDDate Check Numbers Check TotalsComputer Listing 7/9/2012 20033418-20033463 $ 31,268.94Computer Listing 7/16/2012 20033464-20033465 833.00Computer Listing 7/23/2012 20033466-20033475 14,922.47Computer Listing 7/30/2012 20033476-20033482 5,294.84Electronic Payments 7/31/2012 1264-1290 234117.87Total $ 286,437.12REFUNDS13

Date Check Numbers Check TotalsComputer Listing 7/9/2012 80007560-80007605 $ 11,315.44Computer Listing 7/16/2012 80007606-80007623 3,615.25Computer Listing 7/23/2012 80007624-80007640 3,718.12Computer Listing 7/30/2012 80007641-80007654 4,722.07Electronic Payments 7/31/2012 1266-1292 51,334.55Total $ 74,705.43ACCOUNTS PAYABLEDate Check Numbers Check TotalsComputer Listing 7/2/2012 30024235 $ 750.00Computer Listing 7/5/2012 30024236-30024246 791,704.32Computer Listing 7/10/2012 30024247-30024295 198,421.33Computer Listing 7/12/2012 30024296-30024408 1,043,813.93Computer Listing 7/13/2012 30024409-30024410 40,133.90Computer Listing 7/19/2012 30024411-30024438 21,451.75Computer Listing 7/24/2012 30024439-30024474 131,717.06Computer Listing 7/26/2012 30024475-30024524 208,722.27Computer Listing 7/27/2012 30024525 570.00Total $ 2,437,284.56TRAVELDate Advice Numbers Check TotalsElectronic Payments 7/6/2012 9594-9615 $ 11,611.20Electronic Payments 7/13/2012 9616-9631 6,390.50Electronic Payments 7/20/2012 9632-9642 2,181.62Total $ 20,183.32Grand Total $ 6,227,408.8914

CHIPPEWA VALLEY TECHNICAL COLLEGEINVESTMENTS OUTSTANDING7/31/12Annual INVESTMENTREGULAR INVESTMENTS Rate AMOUNTS TOTALSLocal Government Investment Pool (LGIP) 0.15% $ 5,103,472WISC Investment Series 0.04% $ 377,244TOTAL REGULAR INVESTMENTS $ 5,480,716CAPITAL PROJECTSLGIP-Capital Projects 0.15% $ 3,082,445LGIP-Capital Equipment 0.15% $ 2,385,429TOTAL CAPITAL PROJECTS FUNDS $ 5,467,874TOTAL INVESTMENTS $ 10,948,59015

ITEM 5D – CONTRACTS FOR SERVICES18

ITEM 6A – APPROVAL OF COLLEGE POLICY: POST ISSUANCE TAX COMPLIANCEChippewa Valley Technical CollegeCollege Policy:Post-Issuance Compliance Policy for Tax-Exempt andTax-Advantaged ObligationsStatement of PurposeThis Post-Issuance Compliance Policy (the ―Policy‖) sets forth specific policies ofChippewa Valley Technical College (the ―Issuer‖) designed to monitor post-issuancecompliance of tax-exempt obligations or tax-advantaged obligations (―Obligations‖)issued by the Issuer with applicable provisions of the Internal Revenue Code of 1986,as amended (the ―Code‖), and regulations promulgated thereunder (―TreasuryRegulations‖).The Policy documents practices and describes various procedures and systemsdesigned to identify on a timely basis facts relevant to demonstrating compliance withthe requirements that must be satisfied subsequent to the issuance of Obligations inorder that the interest on such Obligations continue to be eligible to be excluded fromgross income for federal income tax purposes or that the Obligations continue to receivetax-advantaged treatment. The federal tax law requirements applicable to eachparticular issue of Obligations will be detailed in the arbitrage or tax certificate preparedby bond counsel and signed by officials of the Issuer and the post-closing compliancechecklist provided by bond counsel with respect to that issue. This Policy establishes apermanent, ongoing structure of practices and procedures that will facilitate compliancewith the requirements for individual borrowings.The Issuer recognizes that compliance with applicable provisions of the Code andTreasury Regulations is an on-going process, necessary during the entire term of theObligations, and is an integral component of the Issuer‘s debt management.Accordingly, the analysis of those facts and implementation of the Policy will require ongoingmonitoring and consultation with bond counsel and the Issuer‘s accountants.General Policies and ProceduresThe following policies relate to procedures and systems for monitoring post-issuancecompliance generally.A. The ―Compliance Officer‖ shall be responsible for monitoring postissuancecompliance issues.B. The Compliance Officer will coordinate procedures for record retentionand review of such records.C. All documents and other records relating to Obligations issued by theIssuer shall be maintained by or at the direction of the Compliance Officer.21

In maintaining such documents and records, the Compliance Officer willcomply with applicable Internal Revenue Service (―IRS‖) requirements,such as those contained in Revenue Procedure 97-22.D. The Compliance Officer shall be aware of options for voluntary correctionsfor failure to comply with post-issuance compliance requirements (such asremedial actions under Section 1.141-12 of the Regulations and theTreasury‘s Tax-Exempt Bonds Voluntary Closing Agreement Program)and take such corrective action when necessary and appropriate.E. The Compliance Officer will review post-issuance compliance proceduresand systems on a periodic basis, but not less than annually.Issuance of Obligations - Documents and RecordsWith respect to each issue of Obligations, the Compliance Officer will:ArbitrageA. Obtain and store a closing binder and/or CD or other electronic copy of therelevant and customary transaction documents (the ―Transcript‖).B. Confirm that bond counsel has filed the applicable information report (e.g.,Form 8038, Form 8038-G, Form 8038-CP) for such issue with the IRS ona timely basis.C. Coordinate receipt and retention of relevant books and records withrespect to the investment and expenditure of the proceeds of suchObligations with other applicable staff members of the Issuer.The following policies relate to the monitoring and calculating of arbitrage andcompliance with specific arbitrage rules and regulations.The Compliance Officer will:A. Confirm that a certification of the initial offering prices of the Obligations withsuch supporting data, if any, required by bond counsel, is included in theTranscript.B. Confirm that a computation of the yield on such issue from the Issuer‘s financialadvisor or bond counsel (or an outside arbitrage rebate specialist) is contained inthe Transcript.C. Maintain a system for tracking investment earnings on the proceeds of theObligations.D. Coordinate the tracking of expenditures, including the expenditure of anyinvestment earnings. If the project(s) to be financed with the proceeds of theObligations will be funded with multiple sources of funds, confirm that the Issuerhas adopted an accounting methodology that maintains each source of financingseparately and monitors the actual expenditure of proceeds of the Obligations.E. Maintain a procedure for the allocation of proceeds of the issue and investmentearnings to expenditures, including the reimbursement of pre-issuance22

expenditures. This procedure shall include an examination of the expendituresmade with proceeds of the Obligations within 18 months after each projectfinanced by the Obligations is placed in service and, if necessary, a reallocationof expenditures in accordance with Section 1.148-6(d) of the TreasuryRegulations.F. Monitor compliance with the applicable ―temporary period‖ (as defined in theCode and Treasury Regulations) exceptions for the expenditure of proceeds ofthe issue, and provide for yield restriction on the investment of such proceeds ifsuch exceptions are not satisfied.G. Ensure that investments acquired with proceeds of such issue are purchased atfair market value. In determining whether an investment is purchased at fairmarket value, any applicable Treasury Regulation safe harbor may be used.H. Avoid formal or informal creation of funds reasonably expected to be used to paydebt service on such issue without determining in advance whether such fundsmust be invested at a restricted yield.I. Consult with bond counsel prior to engaging in any post-issuance creditenhancement transactions or investments in guaranteed investment contracts.J. Identify situations in which compliance with applicable yield restrictions dependsupon later investments and monitor implementation of any such restrictions.K. Monitor compliance with six-month, 18-month or 2-year spending exceptions tothe rebate requirement, as applicable.L. Procure a timely computation of any rebate liability and, if rebate is due, to file aForm 8038-T and to arrange for payment of such rebate liability.M. Arrange for timely computation and payment of ―yield reduction payments‖ (assuch term is defined in the Code and Treasury Regulations), if applicable.Private Activity ConcernsThe following polices relate to the monitoring and tracking of private uses and privatepayments with respect to facilities financed with the Obligations.The Compliance Officer will:A. Maintain records determining and tracking facilities financed with specificObligations and the amount of proceeds spent on each facility.B. Maintain records, which should be consistent with those used for arbitragepurposes, to allocate the proceeds of an issue and investment earnings toexpenditures, including the reimbursement of pre-issuance expenditures.C. Maintain records allocating to a project financed with Obligations any funds fromother sources that will be used for otherwise non-qualifying costs.D. Monitor the expenditure of proceeds of an issue and investment earnings forqualifying costs.E. Monitor private use of financed facilities to ensure compliance with applicablelimitations on such use. Examples of potential private use include:1. Sale of the facilities, including sale of capacity rights;23

2. Lease or sub-lease of the facilities (including leases, easements or usearrangements for areas outside the four walls, e.g., hosting of cell phonetowers) or leasehold improvement contracts;3. Management contracts (in which the Issuer authorizes a third party tooperate a facility, e.g., cafeteria) and research contracts;4. Preference arrangements (in which the Issuer permits a third partypreference, such as parking in a public parking lot);5. Joint-ventures, limited liability companies or partnership arrangements;6. Output contracts or other contracts for use of utility facilities (includingcontracts with large utility users);7. Development agreements which provide for guaranteed payments orproperty values from a developer;8. Grants or loans made to private entities, including special assessmentagreements; and9. Naming rights arrangements.Monitoring of private use should include the following:1. Procedures to review the amount of existing private use on a periodicbasis; and2. Procedures for identifying in advance any new sale, lease or license,management contract, sponsored research arrangement, output or utilitycontract, development agreement or other arrangement involving privateuse of financed facilities and for obtaining copies of any sale agreement,lease, license, management contract, research arrangement or otherarrangement for review by bond counsel.If the Compliance Officer identifies private use of facilities financed with tax-exempt ortax-advantaged debt, the Compliance Officer will consult with the Issuer‘s bond counselto determine whether private use will adversely affect the tax status of the issue and ifso, what remedial action is appropriate. The Compliance Officer should retain alldocuments related to any of the above potential private uses.Qualified Tax-Exempt ObligationsIf the Issuer issues ―qualified tax-exempt obligations‖ in any year, the ComplianceOfficer shall monitor all tax-exempt financings (including lease purchase arrangementsand other similar financing arrangements and conduit financings on behalf of 501(c)(3)organizations) to assure that the $10,000,000 ―small issuer‖ limit is not exceeded.Federal Subsidy PaymentsThe Compliance Officer shall be responsible for the calculation of the amount of anyfederal subsidy payments and the timely preparation and submission of the applicabletax form and application for federal subsidy payments for tax-advantaged obligations24

such as Build America Bonds, New Clean Renewable Energy Bonds and QualifiedSchool Construction Bonds.ReissuanceThe following policies relate to compliance with rules and regulations regarding thereissuance of Obligations for federal law purposes.The Compliance Officer will identify and consult with bond counsel regarding any postissuancechange to any terms of an issue of Obligations which could potentially betreated as a reissuance for federal tax purposes.Record RetentionThe following polices relate to retention of records relating to the Obligations issued.The Compliance Officer will:A. Coordinate with staff regarding the records to be maintained by the Issuer toestablish and ensure that an issue remains in compliance with applicable federaltax requirements for the life of such issue.B. Coordinate with staff to comply with provisions imposing specific recordkeepingrequirements and cause compliance with such provisions, where applicable.C. Coordinate with staff to generally maintain the following:1. The Transcript relating to the transaction (including any arbitrage or othertax certificate and the bond counsel opinion);2. Documentation evidencing expenditure of proceeds of the issue;3. Documentation regarding the types of facilities financed with the proceedsof an issue, including, but not limited to, whether such facilities are land,buildings or equipment, economic life calculations and informationregarding depreciation.4. Documentation evidencing use of financed property by public and privateentities (e.g., copies of leases, management contracts, utility useragreements, developer agreements and research agreements);5. Documentation evidencing all sources of payment or security for the issue;and6. Documentation pertaining to any investment of proceeds of the issue(including the purchase and sale of securities, SLGs subscriptions, yieldcalculations for each class of investments, actual investment incomereceived by the investment of proceeds, guaranteed investment contracts,and rebate calculations).D. Coordinate the retention of all records in a manner that ensures their completeaccess to the IRS.E. Keep all material records for so long as the issue is outstanding (including anyrefunding), plus seven years.25

Continuing DisclosureUnder the provisions of SEC Rule 15c2-12 (the ―Rule‖), underwriters are required toobtain an agreement for ongoing disclosure in connection with the public offering ofsecurities in a principal amount in excess of $1,000,000. Unless the Issuer is exemptfrom compliance with the Rule as a result of certain permitted exemptions, theTranscript for each issue of Obligations will include an undertaking by the Issuer tocomply with the Rule. The Compliance Officer of the Issuer will monitor compliance bythe Issuer with its undertakings, which may include the requirement for an annual filingof operating and financial information and will include a requirement to file notices oflisted ―material events.‖Policy Owner:Category:Legal Ref:Procedure Ref:Adopted: 8/1/12Reviewed:Revised:Director of Finance and Budgeting (―Compliance Officer)FiscalProvisions of the Internal Revenue Code of 1986, as amended, andTreasury Regulations related to the monitoring of post-issuancecompliance of tax-exempt obligations issued by CVTC.26

ITEM 7B – BOARDS ASSOCIATION – REQUEST FOR NOMINATIONS – 2013 BOARDMEMBER OF THE YEAR27

Chippewa Valley Technical CollegeBoard Meeting PLUS/DELTA EvaluationPLUS +DELTA ∆28