HomeMy WebLinkAbout1987.11.17_OPWA Minutes_SpecialOWASSO PUBLIC WORKS AUTHORITY PAGE ONE NOVEMBER. 17, 1987
On Tuesday, November 17, 1937 the Owasso Public Words Authority met in a
Special Session, called by Chairman Stockler, in the Council Chambers at the
Community Center per the Notice of Public Meeting and Agenda posted on the
City Hall bulletin board at 10:00 a.m. on Thursday, November 122, 1987.
ITEM 1: CALL TO ORDER.
The meeting was called to order at 11:30 a.m. with Chairman Stockler
presiding.
ITEM 2: ROLL CALL.
PRESENT: Von E. Stockler, Chairman
Mark Thompson, Vice -Chairman
Patricia Marlar, Trustee
John P. Phillips, Trustee
Stacy Lamb, Trustee
Rodney Ray, City Manager
Ronald Cates, O.P.W.A. Manager
Jane Buchanan, Secretary
ABSENT: Hone
ITEM 3: RECEIVING AND OPENING OF BIDS ON REVENUE BONDS OF THE AUTHORITY FOR
THE UTILITY PROJECT.
Mr. Paul Nieto, Mr. Greg Hieto and Mr. Paul Johanning with the firm of Paul
Nieto and Associates, Inc. instructed the Trustees on the bid opening procedure
and handed tally sheets to all parties.
Bids were opened by Mrs. Buchanan and read by Mr. Greg Nieto. All bids were re-
viewd by Mr. Cates and Mr. Johanning. See attached "Exhibit A" for bid tally.
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OWASSO PUBLIC WORKS AUTHORITY PAGE TWO NOVEMBER 17, 1987
ITEM 4: CONSIDERATION AND VOTE ON O.P.W.A. RESOLUTION NO. 87-06. A RESOLUTION
AUTHORIZING THE SALE, ISSUANCE AND DELIVERY OF REVENUE BONDS OF THE
AUTHORITY FOR. THE UTILITY PROJECT.
A motion was made by P. Marlar, seconded by M. Thompson, to approve Resolution
No. 87-06 awarding the bid to the low bidder, Baker 9- Company, Stifel, Nicholaus
& Company of Oklahoma City, Oklahoma with net interest cost of $244,1215.00 and
net interest rate of 6.688356%.
AYE: Marlar, Thompson, Lamb, Phillips, Stockler
NAY: None
MOTION: Carried 5-0
ITEM 5: VOTE TO ADJOURN.
A motion was made by S. Lamb, seconded by J. Phillips, to adjourn.
AYE: Lamb, Phillips, Marlar, Thompson, Stockler
NAY: None
MOTION: Carried 5-0
Meeting was adjourned at 11:50 a.m.
Janee4fuchanan, Secretary
WSW
Von E. Stockler, Chairman
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TABULA71ON OF BIDS
Ratings:
Standard $ Poor's A -
of
THE OWASS0 LIC WORKS ADTBORITY
Insurance;
Qualifies for AMBAC
$1,000,000 Utility System Revenue Bonds
Insurance "at the
Series 1987
purchaser's option"
ATED: November 1, 1987
BONDSITEREST
BOND MATURITIES:
FIRST DUE: May 1,1988
100,000 % 11-1-1988 $ 175,000 %
11-1-1990 375,000
% 11-1-19 2
BOND YEARS: 3,650
125,000 % 11-1-1989 225,000 %
11-1-1991
(D
A
O
BONDS AWARDED TO
O
Account
Interest Cost Discount
Net Interest Cost
Net Interest Rate
U)
Dean Witter -Dallas
N
4-)
6)
$235,312.50 $20,000.00
$255,312.50
6.994863%
.rA
Prudential -Bache -Dallas
z
>1
Withdrew Bid
Baker do Company
Stifel, Nicolaus & Co., OC
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�
* 3)
$232.525.00 $11,600.00
$244,125.00
6.688356%
E. F. Hutton -Houston
Merrill Lynch
5 )
$247,750.00 $10,450.00
$258,200.00
7.073973%
Smith, Barney -Dallas
O
(�
4)•
$233,687.50 $19,918.50
$253,606.00
6.948110%
Underwood Neuhaus -Houston
A
a4
a
Withdrew Bid
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FinSer Investment -San Antonio
D)
ISO-OC
In
2) R. J. Edwards, Inc.
$234,812.50 $16,310.00
$251,122.50
6.88%
O
Leo Oppenheim & Co., OC
$239,156.25 $14,700.00 $253,856.25 6.954965%
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OWASSO PUBLIC WORKS AUTHORITY PAGE ONE NOVEMBER 17, 1987
On Tuesday, November 17, 1987 the Owasso Public Works Authority met in
a regular session in the Council Chambers at the 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 13, 1987.
ITEM 1: CALL TO ORDER.
The meeting was called to order at 7:18 p.m. with Vice -Chairman Thompson
presiding.
ITEM 2: ROLL CALL.
PRESENT: Mark Thompson, Vice -Chairman
Patricia Marlar, Trustee
Stacy Lamb, Trustee
John Phillips, Trustee
Rodney Ray, City Manager
Ronald Cates, O.P.W.A. Attorney
Jane Buchanan, Secretary
ABSENT: Von E. Stockler, Chairman
ITEM 3: CONSIDERATION AND VOTE TO APPROVE THE MINUTES OF NOVEMBER 3, 1987.
A motion was made by S. Lamb, seconded by F. Marlar, to approve the minutes
of November 3, 1987, as written, by reference made a part hereof.
AYE: Lamb, Marlar, Phillips, Thompson
NAY: None
MOTION: Carried 4-0
ITEM 4: CONSIDERATION AND VOTE TO APPROVE THE WARRANTS.
A motion was made by P. Marlar, seconded by J. Phillips, to approve the
warrants as follows: (1) $43,219.45 (2) Payroll $15,382.18.
AYE: Marlar, Phillips, Lamb, Thompson
NAY: None
MOTION: Carried 4-0
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OWASSO PUBLIC WORKS AUTHORITY
PAGE TWO NOVEMBER 17, 1987
ITEM 5: REPORT FROM CITY MANAGER ON PERSONNEL ACTIONS.
Mr. Ray stated he wanted to inform the Trustees that at noon on Monday,
November 8, 1987 he terminated the O.P.W.A. Supervisor. He further stated
there is an investigation continuing at this time.
ITEM b: UPDATE REPORT ON PROGRESS OF SEWER TREATMENT PLANT.
Mr. Ray gave the Trustees a report stating progress is excellent. The second
inspection by the Oklahoma State Health Department was preformed this week and
all operations and paper word met their approval.
ITEM 7: REPORT FROM O.P.W.A. MANAGER.
very successfully with six bids received and any excellent interest rate
Mr. Ray stated the bid were opened at 11:30 a.m. and the sale of bonds was ceived. He expressed his appreication to all involved. re -
ITEM 8: REPORT FROM O.P.W.A. ATTORNEY.
None
ITEM 9: NEW BUSINESS.
None
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OWASSO PUBLIC WORKS AUTHORITY PAGE THREE
NOVEMBER 17, 1987
ITEM 10: VOTE TO ADJOURN.
With there being no further business to be brought before the Trustees, Vice -
Chairman Thompson asked for a motion to adjourn.
A motion was made by P. Marlar, seconded by J. Phillips, to adjourn.
AYE: Marlar, Phillips, Lamb, Thompson
NAY: None
MOTION: Carried 4-0
Meeting was adjourned at 7:27 p.m.
Von E. Stockler, Chairman
J e Buchanan, Secretary