Action Items A. Board May Take Action on Any Agenda Item(s) Above Upon entering back into Open Session, Yasmin Simon motioned to authorize up to $15 million in short-term funding for Metrocare, subject to the following conditions: 1. Metrocare must a

Staff Report & Agenda Item Details

Action Items A. Board May Take Action on Any Agenda Item(s) Above Upon entering back into Open Session, Yasmin Simon motioned to authorize up to $15 million in short-term funding for Metrocare, subject to the following conditions: 1. Metrocare must agree, in an appropriate form, that Parkland will assume governance control of Metrocare at a future date. 2. During the interim period, Parkland will have the authority to approve material Metrocare decisions until governance control is assumed. 3. Metrocare's lenders must not declare a default or exercise any remedies against Metrocare. 4. A viable turnaround plan, acceptable to the Board, must be presented to Parkland no later than July 10. The Board will subsequently review and approve the plan at a future meeting. 5. Metrocare must agree, to the extent permitted by law, to repay in full any short-term funding advanced by Parkland. The Board also deliberated and decided to call a special meeting on July 13th at 10:30 AM to discuss this matter further. Todd Furniss seconded the motion. The motion passed unanimously. VII. Adjourn With no further business to discuss, the Chair adjourned the meeting at 5:17 PM. SO RECORDED: __________________________________ ___________________________ Vincent Hall Brad Nitschke, JD Chair Assistant Secretary Appendix A (Contracts Reviewed for Appropriate Action)