HomeMy WebLinkAbout1998.12.15_OPWA MinutesOWASSO PUBLIC WORKS AUTHORITY
MINUTES OF REGULAR MEETING
Tuesday, December 15, 1998
The Owasso Public Works Authority met in regular session on Tuesday, December 15, 1998 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, December 11, 1998.
ITEM 1: CALL TO ORDER
Chairman Bode called the meeting to order at 6:40 p.m.
ITEM 2: INVOCATION
The invocation was offered by Allan Harder, Human Resources Officer.
ITEM 3: FLAG SALUTE
The flag salute was led by Councilor Smith..
ITEM 4: ROLL CALL
PRESENT
Denise Bode, Chair
Mark Wilken, Vice Chair
Mary Lou Barnhouse Trustee
Melinda Voss, Trustee
Duston Smith, Trustee
STAFF
Jeff Hancock, City Manager
Ronald D Cates, Authority Attorney
Marcia Boutwell, Authority Secretary
ABSENT
ITEM 5: CONSIDERATION AND APPROPRIATE ACTION RELATING TO ARE VEST
FOR APPROVAL OF THE CONSENT AGENDA.
A. Approval of the Minutes of December 1, 1998 Regular Meeting.
B. Approval of Claims
Mr Wilken moved, seconded by Ms Barnhouse, to approve the consent agenda. The consent agenda
included minutes of the December 1, 1998 regular meeting, by reference made a part hereto. Item B
on the consent agenda included the following claims: (1) OPWA Fund $532,894.49; (2) Interfund
Transfers $39,883.34, (3) Payroll_ $29,637.93,
AYE: Wilken, Barnhouse, Voss, Smith, Bode
NAY: None
Motion carried 5-0.
Owasso Public Works Authority
December 15, 1998
ITEM 6: CONSIDERATION AND APPROPRIATE ACTION RELATING TO TRUSTEE
APPROVAL OF RESPOLUTION #98-07 A RESOLUTION ESTABLISHING
PER ACRE ASSESSMENTS FOR RECOUPMENT OF COSTS ASSOCIATED
WITH THE ELM CREEK INTERCEPTOR SEWER PROJECT.
Mr Cates requested that the Trustees take action to table this item to the first meeting in January.
Mr Wilken moved, seconded by Ms Barnhouse, to table Item #6 to January 5, 1999.
AYE: Wilken, Barnhouse, Smith, Voss, Bode
NAY: None
Motion carried 5-0.
ITEM 7: CONSIDERATION AND APPROPRIATE ACTION RELATING TO
RESOLUTION #98-08, A RESOLUTION AUTHORIZING THE OWASSO
PUBLIC WORKS AUTHORITY (THE "AUTHORITY") TO ISSUE ITS UTILITY
AND SALES TAX REVENUE NOTE, SERIES 1998 (THE "NOTE") IN THE
AGGREGATE PRINCIPAL AMOUNT OF $1 200 000• WAIVING
COMPETITIVE BIDDING AND AUTHORIZING THE NOTE TO BE SOLD ON
A NEGOTIATED BASIS; RATIFYING AND CONFIRMING THE LEASE AS
AMENDED BY THE AMENDMENT TO LEASE BY AND BETWEEN THE
CITY OF OWASSO, OKLAHOMA (THE "CITY") AND THE AUTHORITY
PERTAINING TO THE LEASING OF THE CITY' S UTILITY SYSTEMS TO THE
AUTHORITY; APPROVING AND AUTHORIZING EXECUTION OF THE NOTE
AND OTHER DOCUMENTS RELATING TO THE TRANSACTION
INCLUDING A LOAN AGREEMENT A SECURITY AGREEMENT AND A
SALES TAX AGREEMENT; ESTABLISHING THE AUTHORITY'S
REASONABLE EXPECTATION WITH RESPECT TO THE ISSUANCE OF TAX-
EXEMPT OBLIGATIONS BY THE AUTHORITY IN CALENDAR YEAR 1998
AND DESIGNATING THE NOTE AS _QUALIFIED TAX-EXEMPT
OBLIGATION WITH RESPECT TO THE FINANCIAL INSTITUTION
INTEREST DEDUCTION PROVISIONS CONTAINED IN THE INTERNAL
REVENUE CODE OTAINING
OTHER PROVISIONS RELATED THERETO.
Ms Bishop presented the item. On March 17, 1998, the OPWA Trustees approved a concept plan
for the construction and funding of the Elm Creek Interceptor Sewer Project. The concept allows
the interceptor to be constructed with city -backed financing supported by a private sector pay -back
as the property develops. The proj ect will be financed with a combination of a Revenue Anticipation
Note and a bank loan. A bank loan in the amount of $1,200,000 has been negotiated with First Bank
of Owasso, with documents being prepared by Bond Counsel Allan Brooks. Resolution 498-08
0
Owasso Public Works Authority
December 15, 1998
authorizes the actions necessary to complete the bank financing. Mr Smith moved, seconded by Mr
Wilken, to approve OPWA Resolution #98-08.
AYE: Smith, Wilken, Voss, Barnhouse, Bode
NAY: None
Motion carried 5-0.
ITEM 8: CONSIDERATION AND APPROPRIATE ACTION RELATING TO A REQUEST
FOR TRUSTEE APPROVAL OF RESOLUTION #98-09 A RESOLUTION
EVIDENCING THE OWASSO PUBLIC WORKS AUTHORITY'S INTENT TO
ISSUE TAX-EXEMPT NOTES OR BONDS TO REIMBURSE ITSELF FOR
EXPENDITURES MADE IN CONNECDTION WITH PHASE II OF THE
WASTEWATER TREATMENT PLANT IMPROVEMENTS WITH SAID TAX-
EXEMPT OBLIGATIONS TO BE ISSUED IN THE PRINCIPAL AMOUNT OF
NOT TO EXCEED _$8,500,000; AND CONTAINING OTHER PROVISIONS
RELATING THERETO.
Ms Bishop said that the OPWA staff is in the process of hiring an engineering consulting firm to
design Phase II improvements to the wastewater treatment facility. After those facility
improvements are determined, some form of long-term debt will be issued to finance the
improvements. Financing will most likely be arranged through the Oklahoma Water Resources
Board. As the engineering design work progresses, fees will be paid from OPWA operating funds.
Those fields will be reimbursed when the long-term financing for the project is issued. Resolution
#98-09 establishes the OPWA's intent to reimburse these current expenses with a future tax-exempt
financing. Ms Voss moved, seconded by Ms Barnhouse, to approve Resolution 498-09.
AYE: Smith, Wilken, Voss, Barnhouse, Bode
NAY: None
Motion carried 5-0.
ITEM 9: REPORT FROM OPWA MANAGER
No report.
ITEM 10: REPORT FROM OPWA ATTORNEY
No report.
Owasso Public Works Authority
ITEM 11: NEW BUSINESS
None.
ITEM 12: ADJOURNMENT
Ms Barnhouse moved, seconded by Mr Wilken, to adjourn.
AYE: Barnhouse, Wilken, Voss, Smith, Bode
NAY: None
December 15, 1998
Motion carried 5-0, and the meeting was adjourned at 6:45 p.m.
&JAa
Denise Bode, Chairperson
Marc a Boutwell, Authority Secretary