Property Settlement Agreement Washington State by wcd56256

VIEWS: 158 PAGES: 10

Property Settlement Agreement Washington State document sample

More Info
									                               Board of Natural Resources
                                        September 7, 1999

Board members present:                Jennifer Belcher, Commissioner of
                                         Public Lands, Chair
                                      David Thorud, Dean, College of Forest
                                         Resources, University of Washington
                                      James Zuiches, Dean, College of Agriculture and Home
                                         Economics, Washington State University (arrived at
                                      Robert Paylor, Commissioner, Grays Harbor County

Chair Belcher called the meeting to order at 9:06 a.m. in Room 172 of the Natural Resources
Building in Olympia, Washington.

Charlie Baum, Department Supervisor, gave an overview and background information regarding
the Loomis Forest appraisal process. He then introduced two experts in appraisal practices, Scot
Auble and Jim Caddis, both MAI certified, to discuss key factors in real estate and timberland
appraisals and how these affect value.

Panel presentation on appraisals: Scot Auble, of Auble, Jolicoeur, Gentry & Hartsoch,
Spokane, Washington, stating his presentation was to explain how to review appraisals and how
to make a decision based on that review. He also explained that he is not offering any opinions
on specific appraisals.

Mr. Auble presented the following principals that should be found in an appraisal review (see file
for overheads):

$ The purpose and use of an appraisal review - one must look at the appraisal in its entirety;
  check for compliance; check for consistency; check the math; check for support for the
  conclusions; check for reasonableness; does the review provide an opinion that summarizes
  and clarifies.

$ What is the premise of the appraisal - typically it is appraised at its highest and best use; what
  assumptions have been made and are they sited in the report; are there third party studies and
  are they incorporated into the appraisal such as environmental reports, feasibility studies,
  timber cruises, mineral reports.

$ The information the appraiser should know about the property - know what rights are being
  appraised; what value is being estimated; what restrictions may affect the property such as
  easements, encroachments, government regulations, deed restrictions, leases, etc.; is the
  property being adequately described in the report.

$ Analysis of the property - what is the overall market in which the property competes; is the
  highest and best use clearly supported and consistent with the market; is the market data
  which is selected, consistent with the highest and best use of the subject property; is there
  support for the adjustments and conclusions that are made; does the report lead the reader to
  the conclusions.

Jim Caddis, of Caddis Valuation Service, Spokane, Washington, presented primary points to
consider when reviewing a timberland appraisal.

$ Is the timber cruise data adequate, accurate and applicable. The standards used should be
  cited in the appraisal and be applicable to the local market.
$ Legal road access must be determined

                         Board of Natural Resources C July 6, 1999 C Page 1
$ Are there any government or private restrictions or limitations.
$ Analyzed subject property and sales should be comparing same Highest and Best Use.
$ Consider logging and hauling costs and log prices in the general market area of the appraisal.
$  Estimated time to harvest timber and resulting discount calculations
$ Conversion value is the primary basis for timber values
$ Appraiser should be seeking market value as if it is private land exposed for sale on the open
  market, not on the basis of how the property is managed.
$ Mr. Caddis explained some of the differences between Eastern Washington and Western
  Washington sales and cruises; i.e. scaling, volume tables, grading and land considerations
  (see files).

Further discussion followed.

Chair Belcher asked Mr. Auble to explain the purpose of a discount rate.

Mr. Auble said the purpose of using discount rates is to try to convert future value to present
value. He also said that when checking the reasoning in establishing the discount rate, always
come back to the sales for the parameters to test that reasoning.

Chair Belcher called for a short break at 10:25. The meeting resumed at 10:35.

Charlie Baum, Department Supervisor, introduced the next presentation by Tim Newman of S.A.
Newman, who conducted the independent third party appraisal and Wayne Parris and Steve
Prochnau who reviewed the appraisal.

Tim Newman began by advising the board that the initial appraisal was done eleven months ago
and the overall market value on log and stumpage prices for lodgepole pine, the principal on site
species, has risen substantially since October, 1998. Mr. Newman then referred to the August 12,
1999 report which details the findings of discussions with Parris and Prochnau (see files). The
areas of agreement in which the assumptions were found to be reasonable were: current harvest
volume; stumpage rates; growth rates; land (holding) costs; planting costs; residual inventory.
The areas of disagreement were stumpage appreciation rate (net value of standing timber
adjusted for inflation), discount rate and harvest period.

                                                     Prochnau                 Newman

Real discount rate                                       8.0%                    5.0%
Stumpage appreciation rate                                .0%                    0.5%
Harvest period                                    10 to 15 yrs           80 yrs., accelerated
                                                                             in years 1-10

Mr. Newman and Mr. Prochnau agreed that based on market surveys and independent forecasts
by the United States Forest Service and others, the mid and long term value appreciation will
slow. Mr. Prochnau projects that stumpage rates are going to stay constant in real terms (see
table 1) Mr. Newman projected stumpage rates to increase one-half of one percent (0.5%) per
year in real terms (see table 2). The slight difference in projection between Mr. Newman and Mr.
Prochnau may affect the property value by 2% to 8% depending on the discount rate and harvest

The other two areas of disagreement relate to discount rate and harvest period. Mr. Prochnau
projected a real discount rate of 8.0% based upon a harvest period of 10 to 15 years. Mr.
Newman projected a discount rate of 5.0% based upon a harvest period of 80 year harvest period
with harvest accelerated in years 1 - 10. Mr. Newman said there is a relationship between risk
exposure and the harvest period. To project a highly accelerated harvest substantially increases
the risk that needed forest practices permits will not be received. At the same time, other risk
factors increase with a delayed harvest: potentially new listings of threatened/endangered species,
other eventual regulatory changes, increasing risks associated with insects, disease, and fire.

Mr. Newman stated that the harvest period is based on the fundamental test of highest and best

                         Board of Natural Resources C July 6, 1999 C Page 2
Use. Messrs. Newman and Prochnau agreed on three key factors related to the harvest period 1)
the accelerated harvest (within 20 years) is physically possible. 2) It is financially feasible based
upon the rate at which the local market can absorb the additional wood that would be harvested
under this assumption. 3) It is still an unknown as to whether the accelerated cutting would be
legally permissible.

Mr. Newman displayed a matrix showing the effect of different rates of timber harvest and
discount rates on the timber value component of the north and south blocks of the Loomis (see

Mr. Prochnau said he concurred with Mr. Newman=s comments but wanted to clarify his
findings in the areas of disagreement. He stated that the stumpage appreciation rate of 0.5% is
reasonable and does exist but the reason he chose not to use it is his market analysis which
concluded that the market simple would not recognize it even though it exists. For that same
reasoning he used the discount rate at 8.0% instead of 5.0% and an harvest period of 10 to 15
years rather than 80 years.

Further discussion followed.

Charlie Baum distributed a matrix to the board providing key points from the final S.A. Newman
appraisal, DNR staff memos, Parris/Prochnau appraisal review, Jack Kleinhoff appraisal review,
Mason Bruce & Girard review of Newman=s draft appraisal of November, and the Healy
Company appraisal review. The information was listed by date, rate of harvest, road costs,
discount rate, land & timber value, timber value alone, and total value. (see files)

Chair Belcher asked if the DNR staff source document had used a discount rate.

Mr. Baum referred to Jack Hulsey, Assistant Manager of Resource Planning and Asset
Management Division who advised the board that the staff calculations had used a 5% discount

David Thorud asked that as the board continues the discussion, the discount rate and harvest
periods should be the two areas of focus with additional input from DNR land managers.


Chair Belcher asked for approval of, or corrections to, the minutes of the July 6, 1999, meeting.

Bob Paylor moved, and David Thorud seconded, approval of the minutes of July 6, 1999, as
distributed to the board; the motion was approved unanimously.

Chair Belcher asked Mitch Friedman to present information the board had requested verifying
funds raised by the Loomis Forest Fund.

Mitch Friedman, Executive Director of Northwest Ecosystem Alliance, presented the board
with a summary of the Loomis Forest Fund verified by Hoekstra & Hoekstra, Certified Public
Accountants. The Fund raised more than $13.4 million less campaign expenses which reduced
the available balance to about $12.6 million. (see report on file).

Timber Sales: Charlie Cortelyou, Forest Resources Division, reviewed the results of the timber
sales offered in July and August, 1999. In July 13 sales were offered and all 13 sold, totaling
26.6 million board feet (MMbf). The total bid price was $10.9 million with an average bid price
of $411/Mbf (per thousand board feet). The bid over minimum appraised value was 27 percent.
There was one previous no bid sale that sold this month, D-Luxe Pole in Central Region.

In August 18 sales were offered with a total of 17 sold, totaling 51.3 million board feet (Mmbf).
The total bid price was $16.9 million with an average bid price of $328/Mbf (per thousand board
feet). The bid over minimum appraised value was 30 percent. Two Loomis sales were offered
and sold, one sale, 48 Degrees 45 Minutes Lodgepole, received 94% bid over the minimum

                          Board of Natural Resources C July 6, 1999 C Page 3
value. One previous no bid sale sold in August, Reynolds 16, in Southeast Region.

The proposed timber sales for October, 1999 would represent 11 sales totaling 29.3 Mmbf with a
total minimum bid value of $7.9 million. The 11 sales represent a minimum appraised value
average of $268/Mbf. Mr. Cortelyou noted that the October sales has a new calculation for the
departments Access Road Revolving Fund (ARRF). The fund was established in 1961 for
maintaining, repairing, and reconstructing roads on state lands.

Bob Paylor moved, and Jim Zuiches seconded, approval of the proposed timber sales for
August, 1999. Further discussion followed; the motion was approved unanimously.

Bruce Monell, Resource Planning and Asset Management (RPAM) presented the West Lake
West Pit sale 32-070790. This royalty sale is on 40 acres of Common School trust land just west
of Moses Lake which contains approximately 2 million tons of gravel, with an initial royalty of
$0.65/ton and a required annual payment of $25,000. The term of the contract is 10 years with
the ability to extend.

Operations and reclamation must comply with the development and reclamation requirements
which are part of the contract and the purchaser must obtain all required permits. The successful
bidder must also submit a plan of operations for department approval prior to commencing

The department recommends the sale of valuable materials at the West Lake Pit.

David Thorud moved and Bob Paylor seconded, approval of sand and gravel at West Lake
West Pit. Motion carried unanimously.

Evert Challstedt, Resource Planning and Asset Management (RPAM), presented the proposed
purchase. The department proposes to purchase 160 acres of forest land in Clallam County
which is jointly owned by three individuals, Wells, Cymbala, and Wood. The property is located
approximately 3 miles southeast of Sequim in the Olympic Region.

The acquisition consolidates state ownership, reduces property survey and management costs,
and protects trust asset value of adjacent state land. The purchase price is $170,000 and would
become Common School trust.

The department recommends purchase of the property.

Jim Zuiches moved, and Bob Paylor seconded, approval of purchase. The motion carried
unanimously. Purchase approved.

Chair Belcher announced at 10:00 a.m. there would be a short break. The board reconvened at

Paul Silver, Deputy Supervisor for Resource Management gave an overview of the Loomis
proposal, suggested next steps and timeline. The proposal included the need for an extension of
time to complete the appraisal process and determine a final value figure for the proponents.

Mr. Silver reviewed the following items in the agreement that needed to be completed by July 1,
1999: 1)Agreement on identification of parcels proposed for transfer from trust status. 2)
Agreement on fair market value of the parcels. 3) Letter of intent to commit the funds necessary
to pay fair market value for any proposed transfer. Mr. Silver also reviewed the consequences if
the three items listed above were not completed: 1) timber sales may be resumed, 2) monies paid
to date forfeited, 3) and the process to terminate.

                         Board of Natural Resources C July 6, 1999 C Page 4
The language in the agreement anticipated a need for an extension of time if the appraisal work
was still not completed; excellent progress and good faith in fund raising efforts was
demonstrated; and payment for deferral of timber sales was received on June 30, 1999.

Mr. Silver recommended that the board grant an extension of time to complete the appraisal,
provide appraised value to the petitioners, and complete the remaining requirements in the
agreement by July 1, 2000. An overview of the timeline to date was given (see overheads on

Mr. Silver suggested, in order to address concerns regarding the appraisal process, S.A. Newman
and Jackson and Prochnau meet before the September board meeting and report on the following:
land value; rate of harvest; discount rate, prices and cost assumptions; timber stumpage value;
logging costs; and any other factors material to value. If a consensus between the two firms is
reached on valuation, the information can be brought to the board.

If an agreement cannot be achieved, the next steps and timeline would include:
September 1999
$ Newman and Jackson/Prochnau report back on assumptions they are in agreement on.
$ Newman and Jackson/Prochnau report back on assumptions they are not in agreement on,
    and why.
$ Request that Newman and Jackson/Prochnau jointly conduct a matrix analysis on issues of
$ Public input and comment opportunity at board meeting.
October 1999
$ Public input and comment opportunity at board meeting
$ Department of Natural Resources staff review of information
November 1999
$ DNR staff review of information
$ Report to board on options
$ Potential board action

The board could then take action on the value of the Loomis parcels by November or December
of 1999 with completion of the transfer of property no later than July 1, 2000.

Bob Paylor asked what role the legislature would play in the transfer process.

Commissioner Belcher said the legislature would, more than likely, be involved in appropriating
the monies received for the transfer but that those revenues are specifically designated by statute.

Superintendent Terry Bergeson joined the meeting via telephone at 10:30.


Mitch Friedman, Executive Director of Northwest Ecosystem Alliance, announced that the goal
of $13.1 million dollars has been achieved through contributions received from over 5,000
citizens of Washington. Mr. Friedman understood that an fair market value still needed to be
determined. He also requested that the board begin initiating the process for transferring the land
out of trust status.

Bill Pope, member of the Loomis Forest Fund steering committee stated that the Common
School Trust fund is far better off if the transaction is achieved than if the Department of Natural
Resources (DNR) were to sell the timber.

Mark Skatrud, Friends of Loomis. Mr. Skatrud handed out a recap of the timber sales
harvested since the Loomis Forest Plan went into effect in June, 1996 (see file). The Loomis
Forest Plan has exceeded the projected harvest levels by 8 Mmbf (million board feet) and by the
end of FY 99 is projected to be 12 Mmbf ahead of the plan guidelines. Since the plan took effect
in 1997, 10 out of 15 sales have been sold to out of county mills bringing the trust $49.92 per
thousand board feet. Contrast this amount to what the settlement brings the trust in this fiscal

                         Board of Natural Resources C July 6, 1999 C Page 5
year of $8 million dollars or more.

Mr Skatrud noted that as he has traveled across the State raising money for the Loomis Forest
that he found very wide support for this effort.

Linda Gregory, from Omak, Washington, came to request an extension to the Loomis
settlement agreement. Of the 287 school districts across the state, only 10 have joined the
coalition to oppose the settlement. Ms. Gregory also stated that for approximately the last 15
years, the board has approved the transfer of other trust property to public agencies for fair
compensation and the 10 school districts opposing the Loomis transfer did not oppose those

Nancy Autzenthaler from Seattle, Washington, a graduate of the UW with a degree in forestry.
Ms. Autzenthaler also managed the Tonasket Sawmill while it was in operation which provided
an understanding of timber economics. She stated that it is not just the timber value being
discussed but also the value put on wildlife. There are some sites that logging makes sense and
other sites that it does not make sense. This is a great example of a private/public partnership
and a great investment opportunity for both the citizens of Washington, and the schools for the

Harry Bell representing the North Olympic Timber Action Committee. His main concern is the
lack of timber coming out of the North Olympic peninsula. Mr. Bell showed a comparison of
county annual trust land harvested in Clallam, Jefferson, and Grays Harbor counties from 1990 to
1998 (see handout on file). Mr. Bell argued that these counties are suffering a disproportionate
impact from the reductions in timber harvest from trust lands.

Bill Pickell, of the Washington Contract Loggers Association, expressed concerns with the
Loomis appraisal and the accuracy of that appraisal. Mr. Pickell argued that the review done by
Kleinhoff, found errors in the assumption data which resulted in a multi-million dollar
discrepancy between Kleinhoff=s review and the S.A. Newman appraisal. Mr. Pickell stated that
the Commissioner and Board should go one step further and get another independent appraisal
with realistic assumptions and until that is done the board will not have completed their fiduciary
duty in maximizing the income for the trusts.

Bob Dick, of the Northwest Forestry Association, argued that if you own a piece of property
worth between $13 and $33 million dollars would you go back to the same appraiser that gave
you the $13 million dollar appraisal and ask him to check it. The responsibility of the board is to
find another appraiser with experience in timber purchases/sales on the eastside and take a new
look at where they are headed.

Chair Belcher clarified that the board does not have a $33 million dollar appraisal on the Loomis
Forest parcels. There has only been one appraisal done by S.A. Newman and that appraisal is
valued at $13.1 million dollars. She noted that there are a lot of other opinions that have been
brought forward but only one appraisal.

Kim McConnell, a forestry consultant representing the Washington State School Boards for
Trust Lands and Jack Kleinhoff distributed two items to the board;1) June 28, 1999 addendum to
 Kleinhoff=s review appraisal, 2) response from Mr. Kleinhoff back to S.A. Newman regarding
Newman=s review of the May 31, 1999, Kleinhoff report. (see file). Mr. McConnell presented
the findings of the addendum to the Kleinhoff appraisal review.

Mark Timmerman, Chairman of the Tonasket School Board and representing the Washington
State School Boards for Trust Lands. Mr. Timmerman read a statement expressing concerns
regarding the Loomis land transfer and the S.A. Newman appraisal, which Mr. Timmerman
argued, does not reflect the fair market value. He also stated that the terms of the settlement
agreement have not been met to date which would require the Board to terminate the settlement

Bruce Mackey, former division manager, Resource Planning and Asset Management, from

                         Board of Natural Resources C July 6, 1999 C Page 6
1989-1996. Mr. Mackey expressed concerns with the Board=s role as the Board of Appraisers
and the value of using internal staff work in reviewing appraisals. He argued that the first thing
the board should do to complete their fiduciary duty is to look at the staff input. He said
appraisals only tell you what has happened in the past, but they don=t look to the future. He
didn=t think there was as much an issue with the current appraisal, as with the assumptions and
the directions given to the appraisers.
Kris Wilder from Outreach, a public relations firm in Seattle. He is working with the 12 school
boards that oppose the Loomis land transfer. His questions to the board are:

1) Is the amount of money raised by the Ecosystem Alliance for
   the purchase of the Loomis land as of July 1, 1999, the amount
   of money the board will use for further discussion regarding
   the purchase?

2) Has an independent third party confirmed those funds as of
   July 1, 1999 to the board in the same manner as a commercial
   real estate deal is done?

Commissioner Belcher said she is not sure there is not an answer
today for exactly how that process would be done but, yes, there
would have to be a confirmation process to assure that the money
is actually there.

Mr. Wilder asked if verification of deposits would be done as of
July 1, 1999 from an independent party and would pledges be

Commissioner Belcher advised Mr. Wilder that when the board
decides whether or not to accept the transfer, the money will be
delivered in hand.

Joel Kuperberg, member of the Loomis Forest Fund, and former
State Land agency director. In his diverse roles he has spent a
great deal of time working with appraisals with land values and
wildlife values and has following the Loomis appraisal process
very closely. He supports an extension of the settlement

Senator Bob Morton, Washington State Senate, 7th District.
Senator Morton expressed concern that vital staff information was concealed
from the board. He stated that on October 30, 1998 a memo was sent informing department staff
of an internal review of S.A. Newman=s appraisal. Senator Morton alleged that on November 3,
1998, at the Windham Garden Hotel a meeting was held with DNR staff to review the
Newman=s appraisal and that the board has not been informed of that meeting=s outcome.

Chair Belcher stated that, to her knowledge, neither she or department staff has withheld any
information from the board. An internal review was done by staff to be sure that the process was
being followed and the contracts were met. Chair Belcher said that the department does not have
an MAI appraiser on staff to do an official review. She reminded people that the board is still in
the process of making a decision and hearing more information from the public.

Bonnie Lawrence, representing the Okanogan County Citizens Coalition (OC3) opposes the
Loomis Settlement Agreement and proposed trust land transfer. There opposition is based on the
following concerns; lack of public involvement; the settlement agreement setting a dangerous
precedent; concerns that the trust is not receiving the fair market value; and no public review of
the appraisal. OC3 requests full investigation into the Loomis Settlement Agreement and
proposed trust land transfer. (see file)

Jeff Stewart, Loomis Forest Fund volunteer supports the extension of the Loomis Settlement
Agreement. Mr. Stewart supports a fair market value but asked that if it is greater that the
current value determined by the appraisal that addition time be allowed to raise those funds. He

                         Board of Natural Resources C July 6, 1999 C Page 7
also noted that the Kleinhoff opinion is based on a 5 year harvest plan which is much faster than
the Loomis Landscape Plan or current laws would allow.

Chair Belcher announced at 11:45 a.m. that the board would be in executive session for
approximately 15 to 20 minutes to discuss litigation and the potential settlement of this litigation.
 The board reconvened at 12:05 pm.

Chair Belcher stated the question before the board which is related to the Loomis Settlement
Agreement and whether or not to go forward with an extension and determination of the fair
market value.

David Thorud moved and Jim Zuiches seconded, that the board grant the extension of time
and accept the recommendation to determine a fair market value through the process and
timeline identified by staff.

Chair Belcher asked if there was any further discussion.

Bob Paylor asked that a letter of intent to commit funds be submitted by the plaintiffs to the
board as soon as possible in order to comply with the settlement agreement (subsection F).

Terry Beregon stated her support of the extension of time. Her main concern is that a very strong
effort be made to resolve all the issues related to fair market value.

David Thorud said the board concluded some time ago to accept this kind of arrangement and his
decision to grant an extension was based on the Loomis Forest Fund following through on their
part of the agreement. Now the board needs to address the remaining issue of the fair market

Chair Belcher noted there has been a great deal of testimony before the board about the basis land
transaction and the fair market value. The board has made a commitment that the land transaction
is a good one on behalf of the trust. The issue that remains is to establish a fair market value and
the board is engaged in an effort to establish a fair market value that is defensible. The
department is committed to help the board get that process in place.

The motion carried unanimously.

Terry Bergeson, via telephone, was excused from the meeting at 12:20.

FOREST BOARD RECONVEYANCE, DARRINGTON: Evert Challstedt, of the Resource
Planning and Asset Management Division presented the proposed reconveyance. The department
proposes to reconvey to Snohomish County two separate parcels totaling 237 acres of Forest
Board Transfer trust property. This reconveyance establishes two public parks near the town of
Darrington. The north parcel (81 acres) intends to be developed into a baseball complex with
picnic and open space areas and the south parcel (155 acres) would be developed into an archery
range, day use and overnight camping area.

Mineral rights will be reserved in the Forest Board Transfer trust. Timber shall be managed by
the DNR to the extent that this is consistent with park purposes and the approval of the Board of
County Commissioners. Upon department request the land shall be reconveyed back to the
department if the property is not, or ceases to be used for public park purposes.

The departments recommendation to reconvey is based on the following four items:
$ Resolution signed by the Snohomish County Commissioners requesting reconveyance for
   public park purposes.
$ letter from Interagency Committee for Outdoor Recreation (IAC) that the proposed use is in
   accordance with the State Outdoor Recreation Plan.
$ Resolution passed by the town of Darrington supporting and requesting that Snohomish
   County apply for reconveyance.
$ Legislature has approved funding through IAC for the parks subject to reconveyance

                         Board of Natural Resources C July 6, 1999 C Page 8
The department recommends reconveyance.

David Thorud moved, and Bob Paylor seconded, approval of reconveyance of 237 acres of
Forest Board Transfer trust to Snohomish County; the motion carried unanimously.


Ryan Smith, Executive Director or North Olympic Timber Action Committee in Port Angeles,
Washington. Mr. Smith expressed concerns in the sustainable harvest levels of DNR and the
value in expanding harvest levels on DNR land by seeking more innovative techniques.

Bob Dick of the Northwest Forestry Association and DNR Timber Purchasers Committee. Mr.
Dick spoke to the board concerning a shortfall of 100/Mmbf over this past year. The shortfall
was caused by DNR=s refusal to listen to the people that tried to warn them that it was coming.
Mr. Dick said he was before the board beginning in May of 98' telling them that the timber
markets were in free fall and there needed to be adjustments. Until the agency begins to listen to
the people who take the trees and turn them into the money that feeds the trusts, there will
continue to be a problem.

Phillip Kitchel of the Washington Forest County School Coalition in Forks, Washington. Mr.
Kitchel expressed concerns regarding the levels of timber and the sustained yield calculations,
especially related to the Olympic peninsula.

Dean Druggie a teacher from Bellevue, Washington. Mr. Druggie spoke in support of the
Loomis Land Transfer and the benefits of classroom discussions on the subject. His students got
involved and raised money to contribute to the Loomis Forest Fund.

Chair Belcher thanked the public for their comments.

There being no further business, the meeting was adjourned at 12:47 pm.

                         Board of Natural Resources C July 6, 1999 C Page 9
                Jennifer M. Belcher, Commissioner of Public Lands

                      Bob Nichols for Governor Gary Locke

                  David Thorud, Dean, University of Washington

                James Zuiches, Dean, Washington State University

               Terry Bergeson, Superintendent of Public Instruction

                 Bob Paylor, Grays Harbor County Commissioner


Karin Yukish
Board Secretary

                   Board of Natural Resources C July 6, 1999 C Page 10

To top