Committee Report CONSENT CALENDAR

February 27, 2018

The Committee on Municipal and County Government to which was referred HB 1702,

AN ACT relative to the management of the Gunstock

Area. Having considered the same, report the same with the following resolution: RESOLVED, that it is

INEXPEDIENT TO LEGISLATE.

Original: House Clerk Cc: Committee Bill File COMMITTEE REPORT

Committee: Municipal and County Government Bill Number: Title: relative to the management of the Gunstock Area. Date: Tebrilak;3A272012it! Consent Calendar: CONSENT Recommendation. INEXPEDIENT TO LEGISLATE

STATEMENT OF INTENT

This bill as drafted would jeopardize the future of Gunstock and would have given the Belknap County Convention authority to control Gunstock's finances. The Gunstock Area Commission was created by special legislation in 1959. The purpose of the five member commission is to "operate, maintain, develop, improve, and promote the Gunstock Area in Gilford, . Gunstock provides a significant economic boost to Belknap County in particular and the Commission has for years managed this valuable asset, benefitting the Lakes Region and the State.

Vote 13-0.

Rep. Jane Beaulieu FOR THE COMMITTEE

Original: House Clerk Cc: Committee Bill File CONSENT CALENDAR

Municipal and County Government HB 1702, relative to the management of the Gunstock Area. INEXPEDIENT TO LEGISLATE. Rep. Jane Beaulieu for Municipal and County Government. This bill as drafted would jeopardize the future of Gunstock and would have given the Belknap County Convention authority to control Gunstock's finances. The Gunstock Area Commission was created by special legislation in 1959. The purpose of the five member commission is to "operate, maintain, develop, improve, and promote the Gunstock Area in Gilford, New Hampshire. Gunstock provides a significant economic boost to Belknap County in particular and the Commission has for years managed this valuable asset, benefitting the Lakes Region and the State. Vote 13-0.

Original: House Clerk Cc: Committee Bill File COMMITTEE REPORT

COMMITTEE: /97 /` C' BILL NUMBER: //e/'0-2- TITLE: 3arz,e,,,j

DATE: c).2427// CONSENT CALENDAR: YES NO El

0 OUGHT TO PASS Amendment No. El OUGHT TO PASS W/ AMENDMENT

INEXPEDIENT TO LEGISLATE

INTERIM STUDY (Available only 2nd year of biennium)

STATEMENT OF INTENT: 1) 4414 _e --7/Xe Oixd 61/77:uld kliffe /W/i/v2 4164/ (2Y- ("Xive-424- a-aiknz-ZL- 74 / ../ gaf' fifJ /d I,/ 41 ( /11 .21WAY,LA 71--) /1„; ./4td 0_1/ /

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COMMITTEE VOTE: / 3 -

RESPECTFULLY SUBMITTED, • Copy to Committee Bill File • Use Another Report for Minority Report Rep. For the Committee Rev. 02/01/07 - Yellow Voting Sheets HOUSE COMMITTEE ON MUNICIPAL AND COUNTY GOVERNMENT

EXECUTIVE SESSION on HB 1702

BILL TITLE: relative to the management of the Gunstock Area.

DATE: February 20, 2018

LOB ROOM: 301

MOTIONS: INEXPEDIENT TO LEGISLATE Moved by Rep. Beaulieu Seconded by Rep. DeSimone Vote: 13-0

CONSENT CALENDAR: YES

Statement of Intent: Refer to Committee Report

Respectfully submitted, A6a-Zkic.-z_, Rep Mark McLean, Clerk

HOUSE COMMITTEE ON MUNICIPAL AND COUNTY GOVERNMENT

EXECUTIVE SESSION on HB 1702

BILL TITLE: relative to the management of the Gunstock Area.

DATE: D(0.c) (

LOB ROOM: 301

MOTION: (Please check one box)

CI OTP kITL CI Retain (18' year) CI Adoption of Amendment # CI Interim Study (2nd year) (if offered)

Moved by Rep. Seconded by Rep. a Cikete, Vote: 13-0

MOTION: (Please check one box)

0 OTP 0 OTP/A ❑ ITL 0 Retain (1st year) 0 Adoption of Amendment # 0 Interim Study (2nd year) (if offered)

Moved by Rep. Seconded by Rep. Vote:

MOTION: (Please check one box)

CI OTP 0 OTP/A CI ITL 0 Retain (Pt year) CI Adoption of Amendment # CI Interim Study (2nd year) (if offered)

Moved by Rep. Seconded by Rep. Vote:

MOTION: (Please check one box)

❑ OTP ❑ OTP/A 0 ITL 0 Retain (18' year) 0 Adoption of Amendment # CI Interim Study (2nd year) (if offered)

Moved by Rep. Seconded by Rep. Vote:

CONSENT CALENDAR: YES NO

Minority Report? Yes JNo If yes, author, Rep: Motion

Respectfully submitted: Rep Mark McLean, Clerk

STATE OF NEW HAMPSHIRE 1/5/2018 10:31:14 AM OFFICE OF THE HOUSE CLERK Roll Call Committee Registers Report 2018 SESSION

M&C

Bill #:18 Title: otc- 6 PH Date: / 13 / Exec Session Date: ea / t?--0 / P-3

Motion: Amendment #:

MEMBER YEAS NAYS

Belanger, James P. Chariman 13 Sterling, Franklin W. Vice Chairman i McCarthy, Frank H. DeSimone, Debra L. 7.- Chase, Francis G. Matthews, Carolyn L. 3 McLean, Mark Clerk ul Gauthier, Francis Stone, Brian J. Tripp, Richard P. Migliore, Vincent Paul Carson, Clyde J. 5 Tatro, Bruce L. b Beaulieu, Jane E. Treleaven, Susan GS Vechted Gitik Bordenet, John g Meader, David R. ci Gilman, Julie D. to Josephson, Timothy (1 Rand, Steven IV TOTAL VOTE:

Page: 1 of 1 Hearing Minutes HOUSE COMMITTEE ON MUNICIPAL AND COUNTY GOVERNMENT

PUBLIC HEARING ON HB 1702

BILL TITLE: relative to the management of the Gunstock Area.

DATE: February 13, 2018

LOB ROOM: 301 Time Public Hearing Called to Order: 1:30 p.m.

Time Adjourned: 4:00 p.m.

Committee Members: Reps. J. Belanger, Sterling, McLean, F. McCarthy, DeSimone, Chase, Matthews, Gauthier, Tripp, Migliore, Carson, Tatro, Beaulieu, Treleaven, Bordenet, Meader, Gilman, Josephson and Rand

Bill Sponsors: Rep. Fraser Rep. Plumer Rep. Howard Rep. Abear

TESTIMONY

* Use asterisk if written testimony and/or amendments are submitted.

*Rep. Valerie Fraser - prime sponsor - introduced and supports bill. Read from written testimony. The bill modifies the powers of the commission that operates the Gunstock resort in Belknap county.

Rep. Marc Abear - co-sponsor- supports the bill. This bill would be good for Belknap county. Since 1959 Gunstock has been its own body politic, but it has had financial difficulty that has required bailout from the county. The county was never compensated for the bail out. This bill would give the county delegation oversight of the resort and allow milestones to be set to move the resort towards financial health.

Q. Carson- Has the county delegation been polled on this? A. Abear- Yes. 11 out of 18 have expressed support for the bill.

Q. McCarthy- Why is the county held responsible for Gunstock's financial woes if the resort is its own body politic? Is there a legal requirement? A. Abear- It is unclear that we are required by law to bail them out, but this is something we have always done in the past. The county does have a Memorandum of Agreement (MOA ) with the commission that runs the resort.

Q. Rand- Doesn't have two body politics create a conflict? A. Abear- If this bill passes there will only be one, and that will be Belknap county. The commission will still exist but not as a body politic. If the county is financially responsible for the resort then they should be the body politic.

Q. Treleaven- How are the Gunstock commissioners chosen? A. Abear- Each commissioner serves 5 years. The positions are advertised and the successful candidates are chosen by the delegation.

Rep. Dennis Fields - Sanbornton - opposed the bill. The Gunstock commission should not be messed around with. Do good can come from the delegation micromanaging the resort. They are not experts at operating a ski facility and this bill would take flexibility away from the operation.

Q. Bordenet- Is the county financially responsible for Gunstock? A. Fields- We have the MOA. We do the bonding but they pay it back. Rep. Frank Tilton — Laconia — opposed the bill. Some things to consider: 1) The bill does not speak for the delegation. He was unaware of the poll of the delegation. 2) The county has a very successful relationship with the delegation. 3) The delegation appoints the commissioners, so it already has a say in the leadership of the commission.

The commission was set up as it was to be certain that the commissioners were nonpolitical. They generate the revenue. This insulates the business from changes in the political winds. It is essential given the inconsistent nature of the ski business,

Q. Carson- Has Gunstock had to refinance in the past? A. Tilton- Yes. Q. Carson- Was this ever passed to the taxpayers? A. Tilton- No.

Rep. David Huot — Laconia — opposed the bill.

Joel Weinreke — supported the bill. Why does Gunstock get a $600,000 seasonal start-up loan? They are poorly managed and there needs to be oversight.

Rep. Norman Silber — Gilford — supported the bill. The Gunstock enabling legislation spells out what the commission must turn over to the county. The MOAs are not part of the enabling legislation. The only borrowing that the commission can do is on the back of the county. The commission has held back on payments that statute says they must pay to the county. When the last MOA expired the commission decided that they wanted to pay the county nothing. This means that the taxpayers are on the hook for the money and any easing of the tax burden that might be gained from revenues from the resort is lost to the county residents.

James Baer — opposed the bill. Gunstock is a cash cow that the county wants to milk. It generates revenue because it is well run. The county delegation does not have the expertise to run a ski resort. C. Treleaven- The 1959 act requires payment to the county when revenue targets are met.

Ross Dumain — opposed the bill but chose not to speak.

Robert Durfee — Gunstock Commission — Provided and spoke to written testimony. Wanted to correct perceived "mis-statements" in prior testimony: 1) Since 1991 the commission has negotiated a revenue anticipation note with the county. This has been paid back every year. 2) Since 1998 there has been a MOA and the commission has made payments to the county to help alleviate the tax burden. It expired in 2017. We negotiated a new MOA for a flat $175,000 plus 3% of profits. 3) Every time the commission has gone to the county to bond for an improvement it has been paid back in full.

Q. Gauthier- Would you like to be able to borrow money on your own? A. Durfee- In the long term we would like to be able to secure loans without the county.

Q. Tripp- Does Gunstock only pay $7000 in property taxes? A. Durfee- Gunstock is a county entity. It therefore doesn't have to pay property tax. It makes a voluntary contribution to the town of Gilford to the amount of $7000.

*Alicia Millham — Laconia — opposed the bill. Gunstock is a huge economic boon to the region. The delegation has made huge cuts to the county budget and see this as a revenue stream. They are short sighted. Haggling and inefficient operation will be the only result if this bill passes. Alan Posnack — Alton — opposed the bill. Gunstock has become a go-to resort. It is managed like a business and has been kept free of the political winds. There are benefits to Gunstock that go beyond finances. You cannot tie a fluctuating ski business to a fixed payment to the county.

Peter Millham — Laconia — opposed the bill. The five commissioners are very engaged and money is handled very carefully. The goal is to expand and improve then operation without going to the taxpayers.

*Scott Wilkinson — President, Board of Directors of the Gunstock Ski Club - opposed the bill. Provided and spoke to written testimony.

Rep. Timothy Lang — opposed the bill. The budget process in Belknap county is in shambles. This bill is a sledgehammer being used as a tool in the negotiations between the commission and the county.

Rep. Raymond Howard — Alton, part of the MOA negotiating team — supported the bill. The debt the county assumed in 2001 when the MOA first came into existence was paid off by the taxpayers of Belknap county. Gunstock belongs to the entire county. When it was bailed out it wasn't just the skiers that paid up. It was all the taxpayers in the county. If we get into a few bad years the county taxpayers will take a real hit.

Q. Beaulieu- What is the value of Gunstock? A. Howard- $12-14 million. C. Beaulieu — You own a nice piece of property. C. Howard- Yes, we do.

Respectfully submitted, 2)1 Rep. Mark McLean Clerk HOUSE COMMITTEE ON MUNICIPAL AND COUNTY GOVERNMENT

PUBLIC HEARING ON HB 1702

BILL TITLE: relative to the management of the Gunstock Area.

DATE: -Aib(L f 1 3 e:Di .52

ROOM: 301 Time Public Hearing Called to Order: -) Time Adjourned: go,

(please circle if present)

Committee Membe Re J. Belan erlin cCarth P e imoir Chase, Ma t w uthie Stone arso eaulle Bo den-et, 5, 1-1-C-Can,- sephs'on 'and a • 9 Bill Sponsors: Rep. Fraser Rep. Plumer Rep. Howard Rep. Abear

TESTIMONY

* Use asterisk if written testimony and/or amendments are submitted. H Bi702 Public Hearing 13 Feb 2018 Relative to: the management of the Gunstock area.

*Rep Valerie Fraser — prime sponsor — introduced and supports bill. Read from written testimony. The bill modifies the powers of the commission that operates the Gunstock resort in Belknap county.

Rep Marc Abear — co-sponsor — supports the bill. This bill would be good for Belknap county. Since 1959 Gunstock has been its own body politic, but it has had financial difficulty that has required bailout from the county. The county was never compensated for the bail out. This bill would give the county delegation oversight of the resort and allow milestones to be set to move the resort towards financial health.

Q. Carson- Has the county delegation been polled on this?

A. Abear- Yes. 11 out of 18 have expressed support for the bill.

Q. McCarthy- Why is the county held responsible for Gunstock's financial woes if the resort is its own body politic? Is there a legal requirement?

A. Abear- It is unclear that we are required by law to bail them out, but this is something we have always done in the past. The county does have a Memorandum of Agreement (MOA ) with the commission that runs the resort.

Q. Rand- Doesn't have two body politics create a conflict?

A. Abear- If this bill passes there will only be one, and that will be Belknap county. The commission will still exist but not as a body politic. If the county is financially responsible for the resort then they should be the body politic.

Q. Treleaven- How are the Gunstock commissioners chosen?

A. Abear- Each commissioner serves 5 years. The positions are advertised and the successful candidates are chosen by the delegation.

Rep Dennis Fields — Sanbornton — opposed the bill. The Gunstock commission should not be messed around with. Do good can come from the delegation micromanaging the resort. They are not experts at operating a ski facility and this bill would take flexibility away from the operation.

Q. Bordenet- Is the county financially responsible for Gunstock?

A. Fields- We have the MOA. We do the bonding but they pay it back.

Rep Frank Tilton — Laconia — opposed the bill. Some things to consider:

1) The bill does not speak for the delegation. He was unaware of the poll of the delegation. 2) The county has a very successful relationship with the delegation. 3) The delegation appoints the commissioners, so it already has a say in the leadership of the commission.

The commission was set up as it was to be certain that the commissioners were nonpolitical. They generate the revenue. This insulates the business from changes in the political winds. It is essential given the inconsistent nature of the ski business,

Q. Carson- Has Gunstock had to refinance in the past?

A. Tilton- Yes.

Q. Carson- Was this ever passed to the taxpayers?

A. Tilton- No.

Rep David Huot — Laconia — opposed the bill.

Joel Weinreke — supported the bill. Why does Gunstock get a $600,000 seasonal start-up loan? They are poorly managed and there needs to be oversight.

Rep Norman Silber — Gilford — supported the bill. The Gunstock enabling legislation spells out what the commission must turn over to the county. The MOAs are not part of the enabling legislation. The only borrowing that the commission can do is on the back of the county. The commission has held back on payments that statute says they must pay to the county. When the last MOA expired the commission decided that they wanted to pay the county nothing.

This means that the taxpayers are on the hook for the money and any easing of the tax burden that might be gained from revenues from the resort is lost to the county residents.

James Baer — opposed the bill. Gunstock is a cash cow that the county wants to milk. It generates revenue because it is well run. The county delegation does not have the expertise to run a ski resort.

C. Treleaven- The 1959 act requires payment to the county when revenue targets are met.

Ross Dumain — opposed the bill but chose not to speak.

Robert Durfee — Gunstock Commission — Provided and spoke to written testimony. Wanted to correct perceived "mis-statements" in prior testimony:

1) Since 1991 the commission has negotiated a revenue anticipation note with the county. This has been paid back every year. 2) Since 1998 there has been a MOA and the commission has made payments to the county to help alleviate the tax burden. It expired in 2017. We negotiated a new MOA for a flat $175,000 plus 3% of profits. 3) Every time the commission has gone to the county to bond for an improvement it has been paid back in full.

Q. Gauthier- Would you like to be able to borrow money on your own?

A. Durfee- In the long term we would like to be able to secure loans without the county.

Q. Tripp- Does Gunstock only pay $7000 in property taxes?

2 A. Durfee- Gunstock is a county entity. It therefore doesn't have to pay property tax. It makes a voluntary contribution to the town of Gilford to the amount of $7000.

*Alida Millham — Laconia — opposed the bill. Gunstock is a huge economic boon to the region. The delegation has made huge cuts to the county budget and see this as a revenue stream. They are short sighted. Haggling and inefficient operation will be the only result if this bill passes.

Alan Posnack — Alton — opposed the bill. Gunstock has become a go-to resort. It is managed like a business and has been kept free of the political winds. There are benefits to Gunstock that go beyond finances. You cannot tie a fluctuating ski business to a fixed payment to the county.

Peter Millham — Laconia — opposed the bill. The five commissioners are very engaged and money is handled very carefully. The goal is to expand and improve then operation without going to the taxpayers.

*Scott Wilkinson — President, Board of Directors of the Gunstock Ski Club - opposed the bill. Provided and spoke to written testimony.

Rep Timothy Lang — opposed the bill. The budget process in Belknap county is in shambles. This bill is a sledgehammer being used as a tool in the negotiations between the commission and the county.

Rep Raymond Howard — Alton, part of the MOA negotiating team — supported the bill. The debt the county assumed in 2001 when the MOA first came into existence was paid off by the taxpayers of Belknap county.

Gunstock belongs to the entire county. When it was bailed out it wasn't just the skiers that paid up. It was all the taxpayers in the county. If we get into a few bad years the county taxpayers will take a real hit.

Q. Beaulieu- What is the value of Gunstock?

A. Howard- $12-14 million.

C. Beaulieu—You own a nice piece of property.

C. Howard-Yes, we do.

3 SIGN UP SHEET

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~r i '4r1Prell Testimony To: House Municipal and County Government Committee From: Scott Wilkinson Board of Directors, President Gunstock Ski Club Re: 2018 House Bill 1702 Date: February 13, 2018

Dear Representatives,

The Gunstock Ski Club is a parent run, non-profit organization managed independently from Resort. Next year will be our 100th season of skiing in the Belknap Mountains.

The Gunstock Ski Club is opposed to House Bill 1702.

In 1959 the County Commissioners and Belknap County Delegation agreed if Gunstock was to succeed it needed to be run by a management team focused on the operation of the facility. This agreement resulted in NH Laws of 1959, Chapter 399; an act to provide for the operations and maintenance of the Belknap County Recreation Area (now ). The legislation created the 5 member Gunstock Area Commission. The commission is selected by the County Delegation and provides oversight of operations at Gunstock.

In addition to the statute, the Gunstock Area Commission and Belknap County Delegation maintain a memorandum of agreement. This operating agreement between the commission and the county is updated every 5 years. One item from the current agreement states that Gunstock will pay the county $175,000 per year to reduce county taxes. The current agreement expired in December 2017, and renegotiation stalled when the Area Commission and the full County Delegation could not agree on the amount of the county payment. During this negotiation HB 1702 was introduced.

We believe, if passed, HB 1702 will create an environment where Gunstock management will have a reduced ability to take necessary actions to maintain a competitive facility; and funds needed for maintenance and development can be diverted to the County.

We believe that Gunstock is a valuable asset to the local economy. Gunstock provides jobs, increases visits to local restaurants, hotels and other local business. These benefits outweigh the value of extra funds that may go to the County budget.

We believe the current statute and operating agreement provide an effective and proper management model for Gunstock. The Area Commission provides oversight of operations and strategic direction; and the County Delegation is able to define Gunstock Area's obligations to the county via the memorandum of agreement.

For these reasons, we ask the committee to report HB 1702 as inexpedient to legislate.

Thank you for your consideration. gunstock MOUNTAIN RESORT

To: NH House Municipal and County Government Committee From: Gunstock Area Commissioners RE: 2018 House Bill 1702 Date: February 13, 2018

Dear Honorable Representatives,

The following represents the official position of the Gunstock Area Commissioners as adopted at a public meeting held on February 6, 2018:

The Gunstock Area Commission is opposed to 2018 HB 1702 for the following reasons:

1. The Gunstock Area Commission was created by special legislation in 1959. The purpose of the five member Commission, quoted from the 1959 legislation, is to "operate, maintain, develop, improve and promote the Gunstock Area in Gilford, New Hampshire ..."

2. Again quoted from the 1959 legislation, the Gunstock Commission is:

"especially authorized and empowered to retain any profits from the operation of the area and invest the same for the purpose of future maintenance, operation, improvements of the area, and for working capital, ..."

3. There are provisions in the 1959 legislation for the transfer of excess funds to the County:

"except that any sums accumulated and on hand at the end of the fiscal year in excess of twenty-five percent of the average gross income of the three immediately preceding fiscal years, not required for the payment of outstanding bills of amortization of outstanding indebtedness, shall be turned over to the county of Belknap if required by vote of the county convention."

GUNSTOCK.COM I (603) 293-4341 I 719 CHERRY VALLEY RD GILFORD, NH 03249 4. As written, HB 1702 will add the requirement of approval by the County Delegation of business management and financial planning documents prepared by the Gunstock Commission. This approval essentially shifts the management, operations and financial planning into the political arena of the County Delegation.

5. The Gunstock Enabling Legislation of 1959 purposely separated the management, operations and financial planning of the Gunstock Recreation Area away from the political swings of the County Delegation. This bifurcation allows the Gunstock Area Commission to make sound short, medium and long term business plans necessary to be successful in the unpredictable ski industry.

6. The bill sponsors have stated on numerous occasions that their goal is to extract as much money from Gunstock as possible to offset the County tax burden. The bill sponsors have stated that future medium and long term reinvestment in infrastructure should be reduced or eliminated to allow the retained operating earnings to be used to offset the County tax burden.

7. The Gunstock Commission believes that this shift in operating power and philosophy will cause the ultimate physical and financial amortization of Gunstock. In other words, Gunstock will become antiquated and unable to adapt to the changing winter and summer recreational environment, and will not be able to maintain its competitive edge in the marketplace.

8. HB 1702 has not been fully vetted at the County level. There has been limited information provided to the Gunstock Area Commission from the bill sponsors. The bill has not been reviewed or discussed by the full Belknap County Delegation and there has been no public input at the County level.

Based upon the above, the Gunstock Area Commission is opposed to HB 1702 and requests that this committee find the bill inexpedient to legislate. BELKNAP COUNTY David DeVoy, Office of Commissioners Chairman 34 County Drive Glen Waring, Laconia, NH 03246 Vice — Chairman Phone (603) 527-5400 Hunter Taylor, Clerk

February 9, 2018

Members of the House Municipal and County Government Committee 107 North Main Street Concord, NH 03301

Dear Honorable Representatives,

The Gunstock Recreational Area ("GRA") is a unique and valuable asset that greatly benefits the Lakes Region in general and Belknap County in particular. It offers athletic and recreational opportunities during multiple seasons and provides a significant economic boost to the area.

The Belknap County Board of Commissioners is of the view that the independence of GRA as guaranteed by the current enabling legislation needs to be preserved in order to protect the future of this highly beneficial resource. HB 1702, by giving the Belknap County Convention financial control of Gunstock, would jeopardize the future of Gunstock, and extending its authority to control Gunstock finances would be ill-advised. Therefore, we urge that HB 1702 not be enacted.

Sincerely, Belknap County Commission

David DeVoy, Chairman Glen Waring Hunter Taylor TESTIMONY Municipal and County Government 2/13/18

Re: HB 1702

Mr. Chairman and Members of the Committee, my name is Alida Millham. I reside in Laconia, NH. I was a member of the Belknap County Delegation for 12 years and its Chair for 4. I am very familiar with Belknap County Government as well as Gunstock and its history. I am speaking in opposition to this bill. I sent everyone an email letter that expressed to you my opinion and I will not repeat what I wrote. This is a subject I feel passionately about. The implications of this bill, although I am sure unintended, could set the stage for the demise of Gunstock as we know it. The economic benefit to the region is huge and without it would suffer greatly.

Recent history and current work of the Belknap County Delegation in its County responsibilities has left much to be desired. Last year the Delegation did not appropriate money to staff the new Jail facility. A special appropriation was made well after the facility was finished. This year the delegation has already rejected the Commissioner's budget. Three members of the Delegation have drafted three separatereplacement budgets. One member told the Delegation and the Public that he worked on it at his kitchen table in his pajamas. There have been no meetings with Department heads and no substantive conversation about why big cuts are again being made that will again leave the County Commissioners without the resources they need to operate the County.

Translate this to approving the budget for Gunstock I can foresee unfortunate haggling and an inability for Gunstock to be operated in an efficient and prudent manner. WE have been there before. The 1959 law has proven to be brilliant. Lets not mess it up.

Please reject this bill. Please do not send it to a study committee.

Thank you.

Alida Millham June 22, 2001

To Whom It May Concern:

Subject Gunstock Area

1 The following reflects the amounts appropriated on behalf of Gunstock Area from 1991 to 2001:

2001 1,087,585 5/11/2000 Memo of Understanding Signed 2000 $991,972 1999 659,000 1998 520,000 1997 616,206 1996 0 1995 595,000 1994 325,000 1993 700,000 1992 827,436 1991 998,000

$7,320,199

2. Further questions may be addressed to the undersigned at 527-5400.

Nancy E. Cook, Chief Administrator and Finance Officer

WorchaRiSTOCK.DOC

Revenue from Gunstock

2010 Payments 4/7/2010 150,000.00 12/3/2010 168,591.80 Total 318,591.80

2009 Payments 4/7/2009 150,000.00 12/31/2009 172,640.56 Total 322,640.56

2008 Payments 4/3/2008 150,000.00 12/31/2008 168,486.61 Total 318,486.61

2007 Payments 3/29/2007 150,000.00 12/31/2007 11,402.60 Total 161,402.60

2006 Payments 7/26/2006 150,000.00 10/19/2006 27,206.13 Total 177,206.13

2005 Payments 3/31/2005 150,000.00 8/11/2005 84,414.00 Total 234,414.00

2004 Payments 3/31/2004 150,000.00 11/4/2004 22,209.69 Total 172,209.69

2003 Payments 4/3/2003 150,000.00 7/17/2003 76,545.47 Total 226,545.47

2002 Payments 4/4/2002 150,000.00 8/22/2002 12,146.19 Total 162,146.19

2001 Payments 5/31/2001 150,000.00 7/11/2001 117,947.54 Total 267,947.54

Total Payments: 2,361,590.59 HB 1702 Municipal and County Government Testimony of Rep. Valerie Fraser Belknap 1 Tuesday February 13, 2018

Good Afternoon Committee Members;

HB 1702 has been brought forward by the Gunstock sub-committee and is supported by a majority of the members of the Belknap County delegation.

The original purpose of the current law enacted in 1964, was to remove the responsibility of managing Gunstock Ski Area from the Belknap County commissioners. The Gunstock Ski Area Commission was formed as a result of the enabling legislation with the intent that a percentage of the profits would be paid to the county (non-tax revenue) every year as written and defined in the Laws of 1959 Chapter 399.

The statute granted broad and sweeping rights to Gunstock akin to those of a town- a body politic. We feel that these broad powers are too open for interpretation and certain words and phrases should be removed. See 3qqf See 399:2 See 399:9 (d), (0, (1) See 399:14 (c), (g)

All responsibility for its operation and end-of-year financial balance resides with the Gunstock Commissioners. We feel that the commission must plan in advance to retain enough profits to comply with the payment structure as defined in 399:14 (c) and take responsibility to repay the monies due the county since 1991.

The commissioners must operate Gunstock in the best interests of the county, generate non tax revenue, and comply with best businesses practices. It is paramount that Gunstock represent all of the residents of Belknap County and not solely for the best interests of the users of the recreation area.

I ask that you agree with these precise changes and vote OTP on HB 1702. THE STATE OF NEW HAMPSHIRE

House of Representatives

David 0. Huot Committee on Election Law Belknap County, Dist. 3 308 Legislative Office Building 19 Wildwood Rd. Concord, NH, 03301 Laconia, NH, 03246 david.huoaleg.state.nh.us [email protected]

MEMORANDUM FOR

Rep. James Belanger, Chairman Committee Members

When I testified before the committee Tuesday afternoon, I did not know about amendment 2018-0596h which had been issued that day and was not made available until Rep. Fraser testified. When I spoke with Chairman Belanger at the session Thursday I asked if he would object to my furnishing additional information to the committee and he did not Tuesday afternoon was obviously extremely busy for the committee and I didn't want to delay it.

As you know Chapte4r 399 of the laws of 1959 has been on the books for nearly 60 years and the only amendments have been to update language. The current amendment makes only two major changes to the statute and both are problematic.

First of all, on page 1, line 7 the bill limits its scope to recreation and eliminates the commission's ability to foster any other purposes that support the recreational aspect; a purpose that was added in 2009.. It adds the purpose to provide support for the general fund. The bickering over money was exactly what the proponents of the legislation were trying to end.

If you read Chapter 399 you will see that in Section 399:14 (c) it provides specifically a formula for determining the contribution Gunstock is to make to the County, if the county convention so votes. The amendment eliminates the requirement for a vote. It ties the hands of both the commissioners and the county convention . Circumstances may make it advisable to turn over more or less than the formula requires, which is the reason a memorandum of agreement (contract) between the commissioners and the county convention has been used for the past ten years or so.

I need to add that the name of the Belknap County Convention has been mentioned in connection with the introduction of HB 1702 and the amendment. This legislation was not discussed at any meeting of the County Convention and the minority (there are two of us) were not provided with any information. So the record will be complete, there are two independent statutes which deal with Gunstock: 1963:446 provides that Gunstock shall be exempt from taxation, but that in 1963 and thereafter Gunstock will provide to the Town of Gilford, a payment in lieu of taxes equal to the taxes that would have been assessed for the tax year 1962. I have a note saying the amount is $6,586.65 but have not confirmed same.

The other statute is 1990:144 which authorizes Gunstock to draw water from at a time when Gunstock was expanding. I recall a lot of public discussion about this in 1990 but don't know if it was ever put to use other than the fact the legislature extended the April 2005 expiration date to April 19, 2020 (NH Laws, 2004:57:1)

Thank you.

This document is being transmitted electronically and includes attachments including a copy of the amendment and the laws referred to in the memorandum. I will be filing 21 paper copies with the committee secretary Tuesday morning. Gunstock Enabling Statute

LAWS OF 1959 CHAPTER 399 As Amended

AN ACT TO PROVIDE FOR THE OPERATION AND MAINTENANCE OF THE BELKNAP COUNTY RECREATIONAL AREA.

Be it enacted by the Senate and House of Representatives in General Court convened:

399:1 Declaration of Purpose. It is hereby declared that the purposes of this chapter are to provide for a commission to operate, maintain, develop, improve and promote the Gunstock Area in Gilford, New Hampshire, owned by the county of Belknap, hereinafter called "area", for recreational and other purposes in support of recreational activities and to further the public interest thereby.

[Amended by 1973, 263:1. Name changed from Belknap County Recreational Area to Gunstock Area.] [Amended by 2009, 277:1. Added "and other" and "in support of recreational activities" language]

399:2 Incorporation. The Gunstock area commission hereinafter referred to as the "commission", is hereby incorporated as a body politic and as an agency of the county of Belknap, with the powers and privileges herein provided.

[Amended by 1973, 263:2. Name changed from Belknap County Recreational Area to Gunstock Area.]

399:3 Membership of the Commission. The commission shall consist of five members who shall be resident property owners in the county of Belknap, and shall be invested with all the duties hereinafter granted to and imposed upon said commission.

399:4 Appointive Agency. The county convention for the county of Belknap, hereinafter sometimes referred to as the "appointive agency", shall, acting as a body, appoint the members of the commission. Not more than two of the members of the commission shall be residents of the same municipality. At least one member shall be an experienced skier and at least one member shall be experienced in the field of finance, banking, or accounting. The term of office of each member shall be five years, except that initially, one member shall be appointed for a term of five years, one member for a term of four years, one member for a term of three years, one member for a term of two years, and one member for a term of one year. Thereafter, appointments shall be made for five years. Each member shall continue in office until his successor has been appointed and qualified, and each member shall be subject to removal for cause by the appointive agency after public hearing.

399:5 Compensation. The members of said commission shall be paid twenty-five dollars for each day or portion of a day during which they shall be actually engaged in the services of the commission, not to exceed, however, the sum of one thousand dollars to any one member during any one fiscal year. The members of the commission shall also be reimbursed for actual necessary traveling, and other expenses and disbursements incurred and made by them in the discharge of their official duties. Mileage, however, shall be paid only for trips outside of the county of Belknap, and shall, in such case, be computed from the area and paid for at the same rate for which reimbursement is made to employees of the state of New Hampshire. [Amended by 1973, 263:3 Changed "ten dollars for each day" to "twenty-five dollars for each day"; changed "five hundred dollars" to "one thousand dollars".]

399:6 Organization. The commission shall organize, choose a chairman and a secretary, and shall make such rules and regulations for conduct of its business as it may decide.

399:7 Quorum. A majority of the members shall constitute a quorum for the transaction of any business, for the performance of any duty, or for the exercise of any power, except that in any action upon the appointment or removal of a manager, a majority of the commission must act affirmatively.

399:8 Vacancies. If a vacancy occurs in said commission, it shall be filled for the remainder of the term in the same manner as is hereinbefore provided for original appointment.

399:9 Dealing with Area Prohibited. No member of said commission shall receive any compensation for services other than compensation herein provided, or reimbursement for personal expenses actually incurred, or have any financial interest in the area, or in its operation, either directly or indirectly.

399:10 Powers. The commission shall have power:

(a) To sue and to be sued. (b) To select and have a seal. (c) To adopt by-laws not inconsistent with this chapter for the conduct of its business. (d) To construct, maintain, reconnect, improve, operate and manage the area, including all facilities and appurtenances of any description whatsoever, as are necessary or desirable thereto. (e) To acquire, hold and dispose of personal property for the purposes hereof. (0 Notwithstanding RSA 28:8-c, To acquire in the name of the county of Belknap by purchase, lease or otherwise, real property and rights or easements therein, deemed by it necessary or desirable for the purpose hereof, and to use such property and to convey, lease in accordance with RSA 72:23, 1 or dispose of real property or the rights or easements therein under terms and conditions as shall be negotiated by the commission, provided that no conveyance or disposal shall occur unless authorized by the county convention by a 2/3 vote of those members present and voting after a duly noticed public hearing, and upon a vote of the commission with at least 4 members of the commission voting in favor, and upon the approval of the Belknap county commissioners with at least 2 commissioners voting in favor. (g) To prescribe and publish rules and regulations governing the use of the area. (h) To charge and collect fees, fares and tolls for use of the area, and other services and facilities made available in connection therewith. (i) To make such contracts with the state, United States, other states, public corporations or bodies existing therein, and private corporations and individuals as may be deemed in the public interest. (j) To accept grants, permits and cooperation from the United States, state of New Hampshire, or any agency thereof, in the construction, maintenance, reconstruction, improvement, operation and financing of the area and its appurtenances, and to do any and all things necessary in order to avail itself of such aid and cooperation. (k) To grant leases of all or any part of the area, or any of the facilities therein except lifts and tows which may be leased for not more than three days, to private persons, firms or corporations, upon such terms and conditions as the commission may deem advisable, for periods not exceeding five years, except that leases may be made for longer periods with the approval of the county convention. (1) To employ such assistants, agents, servants, professional, technical or otherwise, as it shall deem necessary or desirable for its purposes, and fix their compensation. (m) To solicit, receive, hold, and expend any gifts, grants, or donations from any source made for any purpose set forth in this act. [Amended by 2003, to read as above.] [Approved: April 11, 2003] [Effective: April 11, 2003] (n) To do all other lawful acts necessary or incidental to the foregoing powers. [Amended by 2009, 277:2 — Conveyance language added]

399:11 Limitation of Powers. The commission shall have no power to commit the county of Belknap to any obligation or liability whatsoever, except in pursuance to the authority herein contained.

399:12 Control of Public Lands. To the extent that it may be necessary to carry out the provisions of this chapter, the commission shall have power to use and control the public lands of the county of Belknap situated in the town of Gilford, known as the Belknap county recreational area, and upon the acquisition by the commission in the name of the county, or by the county directly, of any real property or interest, or right or easement therein, adjacent to such area as now or hereafter bounded, such property or rights or easements shall, without further action, and by virtue hereof, be and become dedicated to the uses and purposes of the commission.

399:13 Exemption from Levy and Execution. All property of the county of Belknap, real or personal, used or controlled by the commission, shall be exempt from attachment and levy and sale by virtue of any execution.

399:14 Appropriations and Revenues.

(a) The county convention may, from time to time, appropriate money for the use of the commission to carry out the purposes of this chapter. (b) All moneys received by the commission from the operation of the area, by borrowing, from the appropriations by the county convention, or from other sources, shall be turned over to the county treasurer, shall be kept in a separate fund, and shall be paid out of the same only upon order of the commission or its duly designated agent. (c) The commission is hereby authorized and empowered to use the revenues from the area to carry out any and all of the purposes herein stated, and is hereby especially authorized and empowered to retain any profits from the operation of the area and invest the same for the purpose of future maintenance, operation, improvements of the area, and for working capital, except that any sums accumulated and on hand at the end of the fiscal year in excess of twenty-five percent of the average gross income of the three immediately preceding fiscal years, not required for the payment of outstanding bills of amortization of outstanding indebtedness, shall be turned over to the county of Belknap if required by vote of the county convention.

[Amended by 1973, 263:4. Fund limit changed from "forty thousand dollars" to "twenty- five percent of the average gross income of the three immediately preceding fiscal years".]

(d) The commission is hereby authorized to adopt a fiscal year for accounting purposes which need not be the same as the calendar year. (e) All financial transactions of the commission shall be audited annually and at such other times and in such manner as the county convention may determine. The commission shall make an annual report to the county convention may determine. The commission shall make an annual report to the county convention of its financial and other transactions for the preceding fiscal year on or before the fifteenth day of the second month following the close of the preceding fiscal year. This report, and the report of such audits as shall be made as herein provided, shall be filed with the clerk of the superior court for Belknap county, after completion, and shall be open for public inspection. (f) If the commission at any time requests the county convention for an appropriation, or for authority to borrow money as provided in section 15, such request shall be accompanied by a complete budget of expected receipts and expenditures for the current fiscal year.

399:15 Bonds or Notes Authorized. The county treasurer is hereby authorized upon a vote of the commission, previously authorized by the county convention, with at least 4 members of the commission voting in favor, to borrow money for the purpose of carrying into effect the provisions of this chapter, and to borrow money in anticipation of revenues for a term of years determined and authorized by the county convention, issuing serial notes or bonds therefore, said bonds to be payable out of revenues received from the operation of the area. Such borrowed money may be used for any purpose for which the commission is authorized to expend money. The maturity dates of such bonds or notes shall be determined by the county convention. When borrowed money is used for capital improvements, the maturity dates of the bonds or notes issued shall be based upon the probable useful life of such capital improvements, but in no event shall any maturity date exceed 20 years from the date of issue. All such bonds or notes shall contain an express guaranty that fees, fares and tolls will be collected in accordance with the provisions hereof, until the date of maturity of said bonds or notes or renewals thereof, and until sufficient money shall have accumulated to pay the principal of said notes or bonds and the interest thereon at the date of maturity. Such notes or bonds shall be in such form and such denominations as the commission shall determine, subject to the authority of the county convention to determine the term of years for the notes or bonds, and shall be signed by a majority of the commission and countersigned by the county treasurer. Provided, however, that the county convention shall, by 2/3 vote of those members present and voting, approve the issue of serial notes and bonds prior to the issue thereof, and such serial notes or bonds shall be considered to be a pledge of the full faith and credit of the county of Belknap. All bonds and notes, and the interest thereon, issued by the commission hereunder shall be exempt from taxation. Any borrowings under the provisions of this section authorizing the issuance of bonds and notes to cover operating expenses or losses shall be limited to a one-time issuance of such bonds and notes, the authorization by the county convention for which shall occur on or before December 31, 1990. [Amended by 1989, 4:1 and by 1990, 127:1. The effect of these two amendments was to provide for borrowing in anticipation of revenues, to allow a one-time bond issue to cover operating expenses and losses, and to make technical changes in the borrowing provisions.]

399:16 Records. The county treasurer shall keep a record of each bond or note, showing the number and amount of each bond or note, the date of maturity and the date of payment of interest. The treasurer may negotiate and sell such bonds or notes by direction of the commission in such manner as they may determine to be the most advantageous to the county. The proceeds of the sale of such bonds or notes shall be held by the county treasurer and shall be paid out by him upon warrants approved by the commission or its duly designated agent.

399:17 Powers of the County Commissioners. As long as this chapter shall be in effect, and upon the appointment of a commission by the appointive agency, the county commissioners of Belknap county shall be relieved of all duties and responsibilities with respect to the operation and maintenance of the area.

399:18 Present Assets, Loans and Other Obligations. Upon the appointment of a commission by the appointive agency, all money then held by the county of Belknap for the account of the area, shall be considered transferred to the commission for the purposes of this chapter, which shall include any accounts which are kept as capital reserve accounts, or accounts known as Belknap county recreational area fund, and any obligation for the payment of any outstanding serial notes or bonds or any other current bills at such time shall be considered to have been transferred to the commission and shall be payable out of future revenues.

399:19 Effect of Repeal. In the event this chapter shall be repealed at any time, any property which may have been acquired by the commission, real or personal, shall be deemed to have reverted in the county of Belknap, and upon repeal, any outstanding serial notes or bonds shall be considered to be direct obligations to the county of Belknap, and shall be deemed a pledge of the full faith and credit of said county.

399:20 Separability. If any provision of this chapter or the application thereof to any person or circumstance is held invalid, the remainder of the chapter and application of such provision to other persons or circumstances shall not be affected thereby.

399:21 Repeal of Inconsistent Acts. Laws 1953, chapter 344 as amended by Laws 1957, chapter 420, is hereby repealed, effective upon the appointment and qualification of the commission pursuant to the provisions hereof.

399:22 Takes Effect. This act shall take effect as of September 15, 1959. [Approved June 15, 1959.] [Effective date September 15, 1959.] LAWS OF 1963 CHAPTER 446

AN ACT RELATIVE TO BELKNAP COUNTY RECREATIONAL AREA

Be it Enacted by the Senate and House of Representatives in General Court convened;

446:1 Tax Assessment. The Belknap county recreational area in the town of Gilford shall be exempt from taxation, but in the year 1963 and in each succeeding year thereafter, the county of Belknap shall pay to the town of Gilford with respect to said area and in lieu of taxes thereon, an amount equal to the taxes assessed on said area by said town for the year 1962.

446:2 Takes Effect. This act shall take effect upon its passage. [Approved July 2, 1963] [Effective July 2, 1963]

NOTE: Amount if $6586.65 per year LAWS OF 1990 CHAPTER 144 (HB 1309)

AN ACT RELATIVE TO A PUBLIC TRUST GRANT FOR THE GUNSTOCK AREA SKI RESORTS SNOWMAKING

Be it Enacted by the Senate and House of Representatives in General Court convened.

144:1 Gunstock Area Ski Resort. Consistent with the best interests of the public as a whole and with state ownership or stewardship over such water bodies, the Gunstock Area of Gilford, and its successors and assigns, is authorized to take water for implementing a system of snowmaking and other activities incidental to present use and potential expansion of ski area operations from lake Winnipesauke, partly situated in the town of Gilford, subject to all applicable conditions and limitations incorporated in any permit issued by the state of New Hampshire, or the town of Gilford. If the department of environmental services determines that a cessation, reduction or other modification of such withdrawal is necessary for the preservation of environmental quality, protection of water quality, regulation of water quantity, or protection of habitat, the Gunstock Area and its successors and assigns shall, pursuant to written notice and order, cease, reduce or modify its withdrawal as directed, provided that such order shall expire after 10 days unless during such 10-day period a public hearing is held by the department and a decision is made to extend such an order. The department shall adopt rules under RSA 541-A establishing criteria and procedures for issuing such orders for special hearings and for making such decisions. If the water withdrawals authorized by this act for the expansion of ski area operations at Gunstock Area have not commenced within 15 years of the effective date of this act, such authorization shall expire.

144:2 Private Rights. This act shall not affect any private right in Lake Winnipesauke and shall not relieve Gunstock Area of Gilford from compliance with laws or rules under the state's police power.

144: Effective Date. This act shall take effect upon its passage.

[Approved April 19, 19901 [Effective Date April 19, 1990.] [Amended January 22, 2004 to extend expiration date to April 19, 2020. Reference NH Laws 2004 Chapter 57:1] sluompuouly

Rep. Fraser, Belk. 1 February 13, 2018 2018-0596h 08/04

Amendment to HB 1702

1 Amend the bill by replacing all after the enacting clause with the folio. 2 3 1 Gunstock Area. Amend 1959, 399:1, as amended by 1973, 26 read as follows: 4 399:1 Declaration of Purpose. It is hereby declared that the urposes of this chapter are to 5 provide for a commission to operate, maintain, develop, improve d promote the Gunstock Area, in 6 Gifford, New Hampshire, owned by the county of Belknap, her nailer called "area", for recreational 7 purposes, to provide financial support to the Belknap c s unty general fund and to further the 8 public interest thereby. 9 2 Gunstock Area. Amend 1959, 399:2, as amende y 1973, 263:2 to read as follows: 10 399:2 Incorporation. The Gunstock area commission, hereinafter referred to as the 11 "commission", is hereby incorporated [ ] as an agency of the county of Belknap, 12 with the powers and privileges herein provide 13 3 Gunstock Area. Amend 1959, 399:10( to read as follows: 14 (d) To construct, maintain, reconstruct, improve, operate and manage the area, 15 including all facilities and appurtena ces of any description [whatsoever, as arc necessary or 16 desirable thereto]. 17 4 Gunstock Area. Amend 195 • , 399:10(f) to read as follows: 18 (f) To acquire in the ame of the county of Belknap by purchase, lease or otherwise, real 19 property and rights or ease nts therein, deemed by it necessary [or desirable] for the purpose 20 hereof, and to use such prop rty. 21 5 Gunstock Area. A end 1959, 399:10(1) to read as follows: 22 (1) To employ such assistants, agents, servants, professional, technical or otherwise, as 23 it shall deem necessa y [or desirable] for its purposes, and fix their compensation. 24 6 Gunstock Ar a. Amend 1959, 399:14(c), as amended by 1973, 263:4 to read as follows: 25 (c) Tine commission is hereby authorized and empowered to use the revenues from the 26 area to carry ut any and all of the purposes herein stated, and is hereby especially authorized and 27 empowered o retain any profits from the operation of the area and invest the same for the purpose 28 of future aintenance, operation, improvements of the area, and for working capital, except that 29 any sums accumulated and on hand at the end of any fiscal year in excess of twenty-five percent of 30 the average gross income of the three immediately preceeding fiscal years, not required for the 31 payment of outstanding bills of amortization of outstanding indebtedness, shall be turned over to 32 the county of Belknap [ if required by vote of--t-he county convention]. Amendment to HB 1702 - Page 2 -

1 7 New Paragraph; Gunstock Area. Amend 1959, 399:14 by inserting after paragraph (f) the 2 following new paragraph: 3 (g) The commission shall submit the following to the county convention prior to the 4 start of each fiscal year: 5 (1) A master operating plan. 6 (2) Any expected capital expenses for the coming fiscal year. 7 (3) An annual operating budget for the coming fiscal year. 8 8 Effective Date. This act shall take effect 60 days after its passage. Amendment to HB 1702 - Page 3 -

2018-0596h AMENDED ANALYSIS This bill requires certain profits from the Gunstock area to be delivered to Belknap county.

This bill also requires the county convention to approve certain items relative to the management of the Gunstock area. poonpoilui su ff!H HB 1702 -AS INTRODUCED

2018 SESSION 18-2653 08/03

HOUSE BILL 1 702

AN ACT relative to the management of the Gunstock Area.

SPONSORS: Rep. Fraser, Belk. 1; Rep. Plumer, Belk. 6; Rep. Howard, Belk. 8; Rep. Abear, Belk. .2

COMMITTEE: Municipal and County Government

ANALYSIS

This bill requires the county convention to approve certain items relative to the management of the Gunstock Area.

Explanation: Matter added to current law appears in bold italics. Matter removed from current law appears [in-lareeltete-anfl-strAtelethx-oughri Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

HE 1702 -AS INTRODUCED 18-2653 08/03

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Eighteen AN ACT relative to the management of the Gunstock Area.

Be it Enacted by the Senate and House of Representatives in General Court convened:

1 1 New Paragraph; Gunstock Area. Amend 1959, 399:14, as amended by 1973, 263:4 by 2 inserting after paragraph (0 the following new paragraph: 3 (g) The commission shall submit the following to the county convention for approval by 4 a simple majority vote 2 months prior to the start of the fiscal year: 5 (1) A strategic plan for the coming fiscal year. 6 (2) A business plan for the coming fiscal year. 7 (3) A plan of execution for the strategic and business plans for the coming fiscal 8 year. 9 (4) The annual operating budget for the coming fiscal year. 10 (5) Any expected capital expenses for the coming fiscal year. 11 2 Effective Date. This act shall take effect 60 days after its passage.