-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, V1NbmvjbzFnkZrNPhrMJfthmtopSrGWuiUhWsX7ymzLXUltOWetGQmwZ2cQv2Mz4 OVvyL/BIQ7wYbyqyfuWapQ== 0001162044-08-000412.txt : 20080821 0001162044-08-000412.hdr.sgml : 20080821 20080821163234 ACCESSION NUMBER: 0001162044-08-000412 CONFORMED SUBMISSION TYPE: N-PX PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20080630 FILED AS OF DATE: 20080821 DATE AS OF CHANGE: 20080821 EFFECTIVENESS DATE: 20080821 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ELECTRIC CITY FUNDS INC CENTRAL INDEX KEY: 0001092741 IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: N-PX SEC ACT: 1940 Act SEC FILE NUMBER: 811-09523 FILM NUMBER: 081032590 BUSINESS ADDRESS: STREET 1: 1292 GOWER ROAD CITY: SCOTIA STATE: NY ZIP: 12302 BUSINESS PHONE: 5183700289 MAIL ADDRESS: STREET 1: 1292 GOWER ROAD CITY: SCOTIA STATE: NY ZIP: 12302

0001092741 S000004890 Electric City Value Fund

C000013244 Electric City Value Fund ECVFX

N-PX 1 electricnpx200808.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-PX

ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-09523

Electric City Funds, Inc.

(Exact name of registrant as specified in charter)

1292 Gower Road

Glenville, NY 12302

(Address of principal executive offices)

(Zip code)

Electric City Funds, Inc.

1292 Gower Road

Glenville, NY 12302

(Name and address of agent for service)

Registrant's telephone number, including area code: (518) 370-0289

Date of fiscal year end: August 31

Date of reporting period: June 30, 2008

Form N-PX is to be used by a registered management investment company, other than a small business investment company registered on Form N-5 (Sections 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than August 31 of each year, containing the registrant's proxy voting record for the most recent twelve-month period ended June 30, pursuant to section 30 of the Investment Company Act of 1940 and rule 30b1-4 thereunder (17 CFR 270.30b1-4). The Commission may use the information provided on Form N-PX in its regulatory, disclosure review, inspection, and policymaking notes.

A registrant is required to disclose the information specified by Form N-PX, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-PX unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. Section 3507.

ITEM 1. PROXY VOTING RECORD:

Disclose the following information for each matter relating to a portfolio security considered at any shareholder meeting held during the period covered by the report and with respect to which the registrant was entitled to vote:

(a).

The name of the issuer of the portfolio security;

(b).

The exchange ticker symbol of the portfolio security;

(c).

The Council on Uniform Securities Identification Procedures ("CUSIP") number for the portfolio security;

(d).

The shareholder meeting date;

(e).

A brief identification of the matter voted on;

(f).

Whether the matter was proposed by the issuer or by a security holder;

(g).

Whether the Registrant cast its vote on the matter;

(h).

How the Registrant cast its vote (e.g., for or against proposal, or abstain; for or withhold regarding election of directors); and

(i).

Whether the Registrant cast its vote for or against management.

Electric City Value Fund

ALEXANDER & BALDWIN, INC.

	Ticker Symbol:ALEX	Cusip Number:014482103
	Record Date: 2/15/2008	Meeting Date: 4/24/2008

Proposal #

Proposal

Vote

Author

MRV*

vs. Mgmt

Directors

For

Issuer

For

With

Proposal to ratify the appointment of Deloitte & Touchee, LLP as the auditors of the corporation.

For

Issuer

For

With

ASHLAND

	Ticker Symbol:ASH	Cusip Number:044209104
	Record Date: 11/26/2007	Meeting Date: 1/31/2008

Proposal #

Proposal

Vote

Author

MRV*

vs. Mgmt

Directors recommend a vote for election of the following nominees 1-01-Bernadine P. Healty, MD, 02-Kathleen Ligocki, 03-James J. OBrien, 04-Barry W. Perry

For

Issuer

For

With

Ratification of Ernst & Young as Independent Auditors for fiscal 2008.

For

Issuer

For

With

Shareholder Proposal to initiate the appropriate process to implement majority voting for election of directors.

Against

Stockholder

Against

With

BANK OF AMERICA

	Ticker Symbol:BAC	Cusip Number:060505104
	Record Date: 2/27/2008	Meeting Date: 4/23/2008

Proposal #

Proposal

Vote

Author

MRV*

vs. Mgmt

A-1

Board of Directors nominees: 1a - William Barnett, III; 1b - Frank P. Bramble, Sr.; 1c - John T. Collins; 1d - Gary L. Countryman; 1e - Tommy R. Franks; 1f - Charles K. Gifford; 1g - Kenneth D. Lewis; 1h -Monica C. Lozano; 1i - Walter E. Massey; 1j - Thomas J. May; 1k - Patricia E. Mitchell; 1l - Thomas M. Ryan; 1m - O. Temple Sloan, Jr.; 1n - Meredith R. Spangler; 1o - Robert L. Tilman; 1p - Jackie M. Ward.

For

Issuer

For

With

B-2

Ratification of the Independent registered public accounting firm for 2008.

For

Issuer

For

With

C-3

Stockholder Proposal - Stock Options

Against

Stockholder

Against

With

C-4

Stockholder Proposal - Advisory Vote on Executive Comp.

Against

Stockholder

Against

With

C-5

Stockholder Proposal - Determination o CEO Comp.

Against

Stockholder

Against

With

C-6

Stockholder Proposal - Cumulative Voting

Against

Stockholder

Against

With

C-7

Stockholder Proposal - Independent Board Chairman

Against

Stockholder

Against

With

C-8

Stockholder Proposal - Special Shareholder Meetings

Against

Stockholder

Against

With

C-9

Stockholder Proposal - Equator Principles

Against

Stockholder

Against

With

C-10

Stockholder Proposal - Human Rights

Against

Stockholder

Against

With

BERKSHIRE HATHAWAY, INC.

	Ticker Symbol:BRBK	Cusip Number:084670207
	Record Date: 3/5/2008	Meeting Date: 5/3/2008

Proposal #

Proposal

Vote

Author

MRV*

vs. Mgmt

Board of Directors

For

Issuer

For

With

COVIDIEN LTD

	Ticker Symbol:COV	Cusip Number:G2552X108
	Record Date: 1/16/2008	Meeting Date: 3/18/2008

Proposal #

Proposal

Vote

Author

MRV*

vs. Mgmt

Election of Director: Robert H. Brust

For

Issuer

For

With

Election of Director: John M. Connors, Jr.

For

Issuer

For

With

Election of Director: Christopher J. Coughlin

For

Issuer

For

With

Election of Director: Timothy M. donahue

For

Issuer

N/A

With

Election of Director: Kathy J. Herbert

For

Issuer

For

With

Election of Director: Randall J. Hogan, III

For

Issuer

For

With

Election of Director: Richard J. Meelia

For

Issuer

For

With

Election of Director: Dennis H. Reilley

For

Issuer

For

With

Election of Director: Tadataka Yamada

For

Issuer

For

With

Election of Director: Joseph A. Zaccagnino

For

Issuer

For

With

Appointment of independent audditors and authorization of the audit committee to set the auditors' remuneration.

For

Issuer

For

With

Election of Director: Craig Arnold

For

Issuer

For

With

DECORATOR INDUSTRIES, INC.

	Ticker Symbol:DII	Cusip Number:243631207
	Record Date: 4/11/2008	Meeting Date: 5/29/2008

Proposal #

Proposal

Vote

Author

MRV*

vs. Mgmt

Directors Vot for Election of: 01-William C. Dixon; 02-Terrance H. Murphy; 03-Timothy J. Lindgren

For

Issuer

For

With

ECHO HEALTHCARE ACQUISITION CORP.

	Ticker Symbol:EHHA	Cusip Number:27876C107
	Record Date: 11/7/2007	Meeting Date: 12/12/2007

Proposal #

Proposal

Vote

Author

MRV*

vs. Mgmt

To adopt the second amended restated agreement and plan of merger dated as of October 23, 2007, by and among ECHO, PET DRX Acquisition Company, a wholly-owned subsidiary of ECHO, and XLNT Veterinary Care, Inc. and the transactions contemplated by the amended and restated merger agreement.

For

Issuer

For

With

To adopt the amended and restated certificate of incorporation of ECHO.

For

Issuer

For

With

To adopt the 2007 Stock Incentive Plan

For

Issuer

For

With

To approve the payment, out of proceeds currently held in trust, upon the consummation of the merger contemplated by the merger proposal of the consulting fees incurred by Windy City, Inc. for the benefit of ECHO pursuant to Windy City's engagement of strategic alliance network.

For

Issuer

For

With

FREEPORT-MCMORAN COPPER & GOLD INC.

	Ticker Symbol:FCX	Cusip Number:35671D857
	Record Date: 5/25/2007	Meeting Date: 7/10/2007

Proposal #

Proposal

Vote

Author

MRV*

vs. Mgmt

DIRECTORS

For

Issuer

For

With

RATIFICATION OF APPOINTMENT OF ERNST & YOUNG LLP AS INDEPENDENT AUDITORS

For

Issuer

For

With

ADOPTION OF THE PROPOSED AMENDMENTS TO THE 2006 STOCK INCENTIVE PLAN

Against

Issuer

For

Against

GENERAL ELECTRIC

	Ticker Symbol:GE	Cusip Number:36904103
	Record Date: 2/25/2008	Meeting Date: 4/23/2008

Proposal #

Proposal

Vote

Author

MRV*

vs. Mgmt

Election of Board of Directors: a1 - James I. Cash, Jr.; a2 - Sir William M. Castell; a3 - Ann M. Fudge; a4 - Claudio X. Gonzalez; a5 - Susan Hockfield; a6 - Jeffrey R. Immelt; a7 - Andrea Jung; a8 - Alan G. (A.G.) Lafley; a9 - Robert W. Lane; a10 - Ralph S. Larsen; a11 - Rochelle B. Lazarus; a12 - James J. Mulva; a13 - Sam Nunn; a14 - Roger S. Penske; a15 - Robert J. Swieringa; - 16 - Doulgas A. Warner III

For

Issuer

For

With

Ratification of KPMG

For

Issuer

For

With

Cumulative Voting

Against

Stockholder

Against

With

Separate the Roles of CEO and Chairman

Against

Stockholder

Against

With

Recoup Unearned Management Bonuses

Against

Stockholder

Against

With

Curb Over-Extended Directors

Against

Stockholder

Against

With

Report on Charitable Contributions

Against

Stockholder

Against

With

Global Warming Report

Against

Stockholder

Against

With

Advisory Vote on Executive Compensation

Against

Stockholder

Against

With

INVESCO LTD.

	Ticker Symbol:IVZ	Cusip Number:G491BT108
	Record Date: 3/14/2008	Meeting Date: 5/14/2008

Proposal #

Proposal

Vote

Author

MRV*

vs. Mgmt

Election of Board Member Rex D. Adams

For

Issuer

For

With

Election of Board Member Sir John Banham

For

Issuer

For

With

Election of Board Member Denis Kessler

For

Issuer

For

With

Apporval and ratification of Ernst and Young LLP as auditors

For

Issuer

For

With

Approval of 2008 Global Equity Incentive Plan

For

Issuer

For

With

Approval of Executive Incentive Bonus Plan

For

Issuer

For

With

INVESCO PLC

	Ticker Symbol:IVZ	Cusip Number:46127U104
	Record Date: 10/11/2007	Meeting Date: 11/14/2007

Proposal #

Proposal

Vote

Author

MRV*

vs. Mgmt

Court Meeting

For

Issuer

For

With

To approve the scheme of arrangement between Invesco PLC and its shareholders pursuant to which Invesco LTD. will become the parent of Invesco PLC and all matters relating to the scheme of arrangement.

For

Issuer

For

With

To approve subject to the scheme becoming effective, the issue of bonus shares to Invesco LTD. (The ""New Shares"").

For

Issuer

For

With

To approve the reduction of capital relating to the new shares.

For

Issuer

For

With

LANDEC CORPORATION

	Ticker Symbol:LNDC	Cusip Number:514766104
	Record Date: 8/13/2007	Meeting Date: 10/11/2007

Proposal #

Proposal

Vote

Author

MRV*

vs. Mgmt

Directors Recommend: A vote for election of the following nominees: Gary T. Steele, Nicholas Tompkins, Duke K. Bristow, PH.D., Robert Tobin

For

Issuer

For

With

To ratify appointment of Ernst & Young LLP as the company's independent registered public accounting firm for the fiscal year ending May 25 2008.

For

Issuer

For

With

To authorize and approve a change of the company's domicile from California to Delaware effected by the merger of the company, a California Corporation, with and into Landec Corporation, a newly formed wholly-owned subsidiary of the company incorporated under the Delaware General Corporation Law, all as more fully described in the proxy statement.

For

Issuer

For

With

LIZ CLAIRBORNE, INC.

	Ticker Symbol:LIZ	Cusip Number:539320101
	Record Date: 3/18/2008	Meeting Date: 5/15/2008

Proposal #

Proposal

Vote

Author

MRV*

vs. Mgmt

Election of Director Kenneth B. Gilman

For

Issuer

For

With

Election of Director Kay Koplovitz

For

Issuer

For

With

Election of Director William L. McComb

For

Issuer

For

With

Election of Director Oliver R. Sockwell

For

Issuer

For

With

Ratification of the appointment of the Independent Registered Public Accounting Firm

For

Issuer

For

With

Stockholder Proposal concerning simple majority vote

Against

Stockholder

Against

With

MARATHON OIL CORP

	Ticker Symbol:MRO	Cusip Number:565849106
	Record Date: 3/3/2008	Meeting Date: 4/30/2008

Proposal #

Proposal

Vote

Author

MRV*

vs. Mgmt

Election of director, Charles F. Bolden, Jr. for a one-year term expiring in 2009.

For

Issuer

For

With

Election of director Gregory H. Boyce for a one-year term expiring in 2009.

For

Issuer

For

With

Election of director Shirley Ann Jackson for a one-year term expiring in 2009.

For

Issuer

For

With

Election of director, Phillip Lader, for a one-year term expiring in 2009.

For

Issuer

For

With

Election of director, Charles R. Lee for a one-year term expiring in 2009.

For

Issuer

For

With

Election of director, Dennis H. Reilley, for a one-year term expiring in 2009.

For

Issuer

For

With

Election of director Seth E. Schofield for a one-year term expiring in 2009;

For

Issuer

For

With

Election of director John W. Snow for a one-year term expiring in 2009.

For

Issuer

For

With

Election of Thomas J. usher for a one-year term expiring in 2009.

For

Issuer

For

With

Ratification of the appointment of PricewaterhouseCoopers LLP as our independent auditor for 2008.

For

Issuer

For

With

Stockholder Proposal to amend our By-laws to allow stockholders to call special meetings.

Against

Stockholder

Against

With

Stockholder Proposal to adopt a policy for ratification of executive compenssation.

Against

Stockholder

Against

With

MOD-PAC CORP.

	Ticker Symbol:MPAC	Cusip Number:607495108
	Record Date: 3/14/2008	Meeting Date: 5/7/2008

Proposal #

Proposal

Vote

Author

MRV*

vs. Mgmt

Election of Board of Directors as recommend by Board.

For

Issuer

For

With

Ratify the appointment of Ernst & Young, LLP as the independent registered public accounting firm for the company for the current year.

For

Issuer

For

With

To consider and vote upon a Shareholder Proposal recommending the Board of Directors take action to convert all of the company's shares of Class B stock into shares of common stock.

For

Stockholder

Against

MONEY MARKET PORTFOLIO-SELECT CLASS

	Ticker Symbol:FMYXX	Cusip Number:192826501
	Record Date: 2/19/2008	Meeting Date: 4/16/2008

Proposal #

Proposal

Vote

Author

MRV*

vs. Mgmt

A vote for election of the following nominees: 1-01-James C. Curvey, 02-Albert R. Gamper, Jr., 03-George H. Heilmeier, 04-Arthur E. Johnson, 05-Edward C. Johnson 3d, 06-James H. Keyes, 07-Marie L. Knowles, 08-Kenneth L. Wolfe

For

Issuer

For

With

MOVADO GROUP, INC.

	Ticker Symbol:MOV	Cusip Number:624580106
	Record Date: 4/21/2008	Meeting Date: 6/19/2008

Proposal #

Proposal

Vote

Author

MRV*

vs. Mgmt

Directors(s): Richard Cote, Efram Grinberg, Gedalio Grinberg, Margaret Hayes-Adame, Alan H. Howard, Richard Isserman, Nathan Leventhal, Donald Oresman, Leonard L. Silverstein

For

Issuer

For

With

Proposal to rafity and approve the selection by the audit committee of the Board of Directors of PricewaterHouseCoopers LLP as independent public accountants for the company for the fiscal year ending January 31, 2009.

For

Issuer

For

With

SCHERING-PLOUGH CORPORATION

	Ticker Symbol:SGP	Cusip Number:806605101
	Record Date: 3/28/2008	Meeting Date: 5/16/2008

Proposal #

Proposal

Vote

Author

MRV*

vs. Mgmt

Election of Directors: Hans W. Becherer, Thomas J. Colligan, Fred Hassan, C. Robert Kidder, Eugene R. McGrath, Carl E. Mundy, Jr., Antonio M. Perez, Patricia F. Russo, Jack L. Stahl, Craig B. Thompson, M.D., Kathryn C. Turner, Robert F. W. van Oordt, and Arthur F. Weinbach.

For

Issuer

For

With

Ratify the designation of Deloitte & Touche LLP to audit the books and accounts for 2008.

For

Issuer

For

With

STEINER LEISURE LIMITED

	Ticker Symbol:STNR	Cusip Number:P8744Y102
	Record Date: 4/18/2008	Meeting Date: 6/12/2008

Proposal #

Proposal

Vote

Author

MRV*

vs. Mgmt

Directors Recommend A Vote for Election of the Following Nominees: 01 - Leonard I. Fluxman, 02 - Steiner Warshaw, 03 - Steven J. Preston.

For

Issuer

For

With

Ratification of the Appointment of Ernst & Young LLP as Independent Auditors for the 2008 Fiscal Year.

For

Issuer

For

With

STOCKGROUP INFORMATION SYSTEMS, INC

	Ticker Symbol:SWEB	Cusip Number:861273100
	Record Date: 5/12/2008	Meeting Date: 6/17/2008

Proposal #

Proposal

Vote

Author

MRV*

vs. Mgmt

VOTE FOR NOMINEES PROPOSED AS DIRECTORS

For

Issuer

For

With

To appoint DeLoitte & Touche LLP as independent auditors.

For

Issuer

For

With

To approve the amended and restated stock option plan.

For

Issuer

For

With

To approve the amendment of the articles of incorporation to change the name of the company.

For

Issuer

For

With

To grant the proxyholder authority to vote at his/her discretion on any other business or amendment or variation to the previous resolutions.

For

Issuer

For

With

SUPERIOR INDUSTRIES INTERNATIONAL

	Ticker Symbol:SUP	Cusip Number:868168105
	Record Date: 4/4/2008	Meeting Date: 5/30/2008

Proposal #

Proposal

Vote

Author

MRV*

vs. Mgmt

Approval of 2008 Equity Incentive Plan

For

Issuer

For

With

Approval of Shareholder Proposal to Change Voting Standard For Director Elections

Against

Stockholder

Against

With

Directors Vote: 01 - Louis L. Borick; 02-Steven J. Borick; 03-Francisco S. Urgana.

For

Issuer

For

With

TEJON RANCH CO.

	Ticker Symbol:TRC	Cusip Number:879080109
	Record Date: 3/14/2008	Meeting Date: 5/13/2008

Proposal #

Proposal

Vote

Author

MRV*

vs. Mgmt

Directors Election: 01-John L. Goolsby; 02-Norman Metcalfe; 03-Kent G. Snyder; 04-Michael H. Winer

For

Issuer

For

With

Ratification of Ernst 7 Young, LLP as the Company's Independent Public Accountants for 2008

For

Issuer

For

With

Approve Amendments to the 1998 Stock Incentive Plan

For

Issuer

For

With

Approve Amendments to the Non-Employee Director Stock Incentive

For

Issuer

For

With

THE ALLSTATE CORPORATION

	Ticker Symbol:ALL	Cusip Number:020002101
	Record Date: 3/24/2008	Meeting Date: 5/20/2008

Proposal #

Proposal

Vote

Author

MRV*

vs. Mgmt

Election of Director F. Duane Ackerman

For

Issuer

For

With

Election of Director Robert D. Beyer

For

Issuer

For

With

Election of Director W. James Farrell

For

Issuer

For

With

Election of Director Jack M. Greenberg

For

Issuer

For

With

Election of Director Ronald T. Lemay

For

Issuer

For

With

Election of Director J. Christopher Reyes

For

Issuer

For

With

Election of Director H. John Riley, Jr.

For

Issuer

For

With

Election of Director Joshua I. Smith

For

Issuer

For

With

Election of Judith A. Sprieser

For

Issuer

For

With

Election of Director Mary Alice Taylor

For

Issuer

For

With

Election of Director Thomas J. Wilson

For

Issuer

For

With

Ratification of the Appointment of Deloitte & Touche LLP as Allstate's Independent Registered Public Accountant for 2008

For

Issuer

For

With

Stockholder Proposal Calling for Cummmulative Voting in the Election of Directors

Against

Stockholder

Against

With

Stockholder Proposal Seeking the Right to Call Special Shareholder Meetings

Against

Stockholder

Against

With

Stockholder Proposal Seeking an Advisory Resolution to Ratify Compensation of the Named Executive Officers

Against

Stockholder

Against

With

THE TORONTO-DOMINION BANK

	Ticker Symbol:TD	Cusip Number:891160509
	Record Date: 2/11/2008	Meeting Date: 4/3/2008

Proposal #

Proposal

Vote

Author

MRV*

vs. Mgmt

Election of Directors, 01-William Bennett; 02-Hugh J. Bolton; 03-John L. Bragg; 04-W. Edmund Clark; 05-Wendy K. Dobson; 06-Donna M. Hayes; 07-Henry H. Ketcham; 08-Pierre H. Lessard; 09-Harold H. Mackay; 10-Brian F. Macneill; 11-Irene R. Miller; 12-Nadir H. Mohamed; 13-Roger Phillips; 14-Wilbur J. Prezzano; 15-William J. Ryan; 16-Helen K. Sinclair; 17-John M. Thomopson.

For

Issuer

For

With

Appointment of Auditor named in the management proxy circular.

For

Issuer

For

With

Shareholder Proposal A

Against

Stockholder

Against

With

Shareholder Proposal B

Against

Stockholder

Against

With

Shareholder C

Against

Stockholder

Against

With

Shareholder Proposal D

Against

Stockholder

Against

With

Shareholder Proposal E

Against

Stockholder

Against

With

Shareholder Proposal F

Against

Stockholder

Against

With

Shareholder Proposal G

Against

Stockholder

Against

With

Shareholder Proposal H

Against

Stockholder

Against

With

Shareholder Proposal I

Against

Stockholder

Against

With

Shareholder Proposal J

Against

Stockholder

Against

With

Shareholder Proposal K

Against

Stockholder

Against

With

Shareholder Proposal L

Against

Stockholder

Against

With

Shareholder Proposal M

Against

Stockholder

Against

With

VALUE LINE, INC.

	Ticker Symbol:VALU	Cusip Number:920437100
	Record Date: 8/9/2007	Meeting Date: 8/30/2007

Proposal #

Proposal

Vote

Author

MRV*

vs. Mgmt

Directors - H.A. Brecher, E.A. Buttner, J.B. Buttner, J. Eakman, D.T. Henigson, H. Padres, M.N. Ruth & E. Shanahan

For

Issuer

For

With

VERSANT CORPORATION

	Ticker Symbol:VSNT	Cusip Number:925284309
	Record Date: 2/26/2008	Meeting Date: 4/24/2008

Proposal #

Proposal

Vote

Author

MRV*

vs. Mgmt

Directors Recommend: A vote for election of the following nominees: 1-01-Uday Bellary, 02-William Henry Delevati, 03-Dr. Herbert May, 04-Jochen Witte, 05-Bernhard Woebker

For

Issuer

For

With

To approve the amendment to the company's 2005 Directors stock option plan to increase the number of shares authorized for issuance under the plan by an additional 50,000 shares, from 49,000 to a total of 99,000 shares.

For

Issuer

For

With

To ratify the appointment of Grant Thornton LLP as the Company's Independent Registered Public accounting firm for the fiscal year ending October 21, 2008.

For

Issuer

For

With

XM SATELLITE RADIO HOLDINGS INC.

	Ticker Symbol:XMSR	Cusip Number:983759101
	Record Date: 5/12/2008	Meeting Date: 6/24/2008

Proposal #

Proposal

Vote

Author

MRV*

vs. Mgmt

Board of Directors Vote

For

Issuer

For

With

Ratify the appointment of KPMG LLP as Independent Auditors

For

Issuer

For

With

XM SATELLITE RADIO HOLDINGS INC.

	Ticker Symbol:XMSR	Cusip Number:983759101
	Record Date: 10/1/2007	Meeting Date: 11/13/2007

Proposal #

Proposal

Vote

Author

MRV*

vs. Mgmt

Adopt the agreement and plan of merger, dated as of February 19, 2007, by and among Sirius Satellite Radio,Inc.., Vernon Merger Corporation and XM Satellite Radio Holdings Inc.

For

Issuer

For

With

Approve any motion to adjourn or postpone the special meeting to a later date or dates, if necessary, to solicit additional proxies if there are insufficient votes at the time of the special meeting to approve the proposal to adopt the agreement and plan of merger.

For

Issuer

For

With

* Management Recommended Vote

SIGNATURES

Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Electric City Funds, Inc.

By /s/James W. Denney

* James W. Denney

President and Treasurer

Date: August 20, 2008

*Print the name and title of each signing officer under his or her signature.

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