HomeMy WebLinkAbout1994.11.15_OPWA MinutesOWASSO PUBLIC WORKS AUTHORITY
MINUTES OF REGULAR MEETING
Tuesday, November 15, 1994
The Owasso Public Works Authority met in regular session on Tuesday, November 15, 1994
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 11, 1994.
ITEM 1: CALL TO ORDER.
Chairman Duke called the meeting to order at 8:03 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 preceding this meeting.
ITEM 4: ROLL CALL
PRESENT
Jerry Duke, Chairperson
Charles Burris, Vice Chairperson
Mary Lou Barnhouse, Trustee
Joe Ramey, Trustee
Danny Ewing, Trustee
STAFF
Rodney J Ray, City Manager
Ronald D Cates, Authority Attorney
Marcia Boutwell, Authority Secretary
A quorum was declared present.
ABSENT
ITEM 5: REQUEST APPROVAL OF THE MINUTES OF NOVEMBER 1, 1994
REGULAR MEETING
Mr Burris moved to approve the minutes as written, by reference hereto; seconded by
Mr Ramey.
AYE: Burris, Ramey, Ewing, Barnhouse, Duke
NAY. None
Motion carried 5-0.
Owasso Public Works Authority November 15, 1994
ITEM 6: REQUEST APPROVAL OF CLAIMS
Chairman Duke moved, seconded by Mr Burris, to approve the following claims as submitted:
(1) OPWA Fund $113,362.80; (2) OPWA Capital Improvement Fund $122.88; (3) Payroll
$21,734.10.
AYE: Duke, Burris, Ewing, Barnhouse, Ramey
NAY: None
Motion carried 5-0.
ITEM 7: CONSIDERATION AND APPROPRIATE ACTION RELATING TO THE
EMPLOYMENT OF A QUALIFIED FIRM TO PERFORM ARBITRAGE
CALCULATIONS RELATING TO THE 1988 BOND ISSUE
Ms Bishop stated that the Internal Revenue Code of 1986 requires that excess interest earned in
connection with the issuance of revenue bonds, be rebated to the United States Treasury. A
calculation of the amount must be made annually. Because of the complexity of that portion of
the tax code, a firm specialized in that field of accounting needs to be retained to complete the
calculation. The firm of Deloitte & Touche has performed the calculations for the past two
years, and staff recommended that they be retained to perform the current calculation
requirement. Mr Burris moved, seconded by Mr Ramey, to approve a contract in the amount
of $2000 with the firm of Deloitte & Touche to provide bond rebate computation services for
the 1988 Series Revenue Bonds for the period of November 22, 1988 through
November 1, 1994.
AYE: Burns, Ramey, Ewing, Barnhouse, Duke
NAY: None
Motion carried 5-0.
ITEM 8: REPORT FROM OPWA MANAGER
No report.
ITEM 9: REPORT FROM OPWA ATTORNEY
No report.
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Owasso Public Works Authority
ITEM 10: UNFINISHED BUSINESS
None
ITEM 11: NEW BUSINESS
None
ITEM 12: ADJOURNMENT
Mr Ramey moved, seconded by Mr Burris, to adjourn.
AYE: Ramey, Burris, Ewing, Barnhouse, Duke
NAY: None
Motion carried 5-0 and the meeting was adjourned at 8:15 p.m.
Marc a Boutwell, A thority Secretary
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November 15, 1994
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rry ke, Chairperson