HomeMy WebLinkAbout1995.11.21_OPWA MinutesOWASSO PUBLIC WORKS AUTHORITY
MINUTES OF REGULAR MEETING
Tuesday, November 21, 1995
The Owasso Public Works Authority met in regular session on Tuesday, November 21, 1995
in the Council Chambers at the Owasso Community Center per the Notice of Public Meeting and
Agenda posted on the City Hall bulletin board at 4:00 p.m. on Friday, November 17, 1995.
ITEM 1: CALL TO ORDER
Chairman Burris called the meeting to order at 7:25 p.m.
ITEM 2: INVOCATION
The invocation was given during the City Council meeting preceding this meeting.
ITEM 3: FLAG SALUTE
The flag salute was held during the City Council meeting.
ITEM 4: ROLL CALL
PRESENT
Charles Burris, Chairperson
Danny Ewing, Vice Chairperson
Mary Lou Barnhouse, Trustee
Joe Ramey, Trustee
STAFF
Rodney J Ray, City Manager
Ronald D Cates, Authority Attorney
A quorum was declared present.
ABSENT
Michael Helm, Trustee
Marcia Boutwell, Authority Secretary
ITEM 5: REQUEST APPROVAL OF THE MINUTES OF NOVEMBER 7. 1995
REGULAR MEETING.
Mr Ramey moved to approve the minutes as written, by reference hereto; seconded by
Ms Barnhouse.
AYE: Ramey, Barnhouse, Ewing, Burris
NAY: None
Motion carried 4-0.
Owasso Public Works Authority November 21, 1995
ITEM 6: REQUEST APPROVAL OF CLAIMS
Mr Ramey moved, seconded by Mr Ewing, to approve the following claims as submitted:
(1) OPWA Fund $99,917.83; (2) Payroll $25,948.15.
AYE: Ramey, Ewing, Barnhouse, Burris
NAY: None
Motion carried 4-0.
ITEM 7: CONSIDERATION AND APPROPRIATE ACTION RELATING TO A
PROPOSAL TO PROVIDE ARBITRAGE REBATE SERVICES ASSOCIATED
WITH THE OPWA 1988 REVENUE BONDS.
Ms Bishop said that the tax code requires that any excess interest earned in connection with the
issuance of the 1988 OPWA Revenue Bonds must be rebated to the United States Treasury. A
calculation must be made annually and any rebate due the government must be reported and paid
at least once every five years. Proposals were requested from three accounting firms to prepare
the computation. Two firms submitted proposals, with the firm of Larry A Evans CPA Inc
submitting the lower fee proposal. They offered the option of a four-year agreement for a
reduced annual fee that also includes filing the IRS report in 1998. Mr Ramey moved to accept
the proposal from Larry A Evans CPA Inc to provide annual arbitrage rebate computation
services for the 1988 Series Revenue Bonds for the period of November 2, 1994 through
November 1, 1998 for a fee of $700 per year. Motion seconded by Chairman Burris.
AYE: Ramey, Burris, Ewing, Barnhouse
NAY: None
Motion carried 4-0.
ITEM 8: REPORT FROM OPWA MANAGER
No report.
ITEM 9: REPORT FROM OPWA ATTORNEY
No report.
ITEM 10: UNFINISHED BUSINESS
None.
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Owasso Public Works Authority
ITEM 11: NEW BUSINESS
None.
ITEM 12: ADJOURNMENT
Mr Ramey moved, seconded by Ms Barnhouse, to adjourn.
AYE: Ramey, Barnhouse, Ewing, Burris
NAY: None
Motion carried 4-0 and the meeting was adjourned at 7:35 p.m.
Boutwell, Authority Secretary
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November 21, 1995
Char es L Burris, Chairperson