RMCI has advised the Board that it will continue to provide non-investment services on an interim basis through November 23, 2010, contingent on the Funds entering into an interim agreement with RMCI that provides for contemporaneous payments sufficient to cover its actual costs in servicing the Funds.
The Independent Trustees have identified two firms, other than RMCI, to assess whether they could provide needed on-going non-investment services to the Funds and, if so, at what cost.
At this point, the Board cannot guarantee that either of these firms or RMCI will be willing to provide non-investment services after November 23, 2010, what the costs of their services might be or when they could commence doing so.
The addition of RMCI is consistent with, and critical to, the success of our business strategy," said Packwood.
Business-to-business opportunities and high-speed Internet service will make RMCI the IDACORP company to watch.