For those who found listening to the info I highlighted to be TLDL. Here is a transcript of those two minutes.

-----

Ernest Camacho, Board Member:
What lessons have we learned so we wouldn't be in this position again?

Brian P. Kelly, Chief Executive Officer:
I love that question, because it is the easiest one to answer. Don't repeat the process we did on the early construction packages, and what that means simply is why we have put in place what we call the stage gate process going forward. We will not commence construction without right of way entirely in hand and the utilities identified and relocated. And that's the thing. When we got into construction without those things done that means we got into construction at great risk and we've been playing catch up ever since. And so I think those are the key elements. Also we have been still defining some of the scope and we are coming to the end of that finally. So the scope of all these contracts are finally defined. Now it is just a matter of getting the right of way done and the utilities moved. As we complete more and more of that we will pick up the construction pace. Going forward we will not be in this position.

Ernest Camacho:
So it is the utilities but also the third party agreements.

Brian P. Kelly:
Oh yes, absolutely.

Ernest Camacho:
Thank you.

Tom Richards, Board Chair:
But I mean it is also fair to say if we are faced in the future with the alternative of either accepting or not accepting a federal grant, or a grant from anybody, because of the requirement to expend the funds by a certain date it presents a conundrum for us to determine whether the risk is worth the receipt of the funds.

Nancy Miller, Vice Chair:
Yes, I would call that never say never.

Tom Richards:
Thank you.