ITEM TITLE:
Approval to Go Into Executive Session Regarding Hilcorp Acquisition of BP
SUBMITTED BY: Allie Ferko, MMC, Deputy City Clerk
FISCAL NOTES:
Expenditure Required: N/A
Unencumbered Balance: N/A
Funding Source: N/A
RECOMMENDATION:
Approve going into executive session regarding Hilcorp acquisition of BP.
SUMMARY STATEMENT:
Alaska Statute AS 44.62.310 provides an exception to the Alaska Open Meetings law (AS 44.62.310) which allows the City Council to meet in executive session for the purpose of discussion related to:
1. Matters which involve litigation and where matters of which the immediate knowledge would clearly have an adverse effect upon the finances of the City.
2. Matters which by law, municipal charter, or ordinance are required to be confidential.
Any formal action related to discussion requiring a motion and vote of the governing body must be done in open session.