Loading...
HomeMy WebLinkAbout2004.04.06_OPWA AgendaTYPE OF MEET-ING: Regular DATE: April 6, 2004 TIME: 6:30 p.m. PLACE: Council Chambers, Old Central Building 109 N. Birch Notice and agenda filed in the office of the City Clerk and posted at City Hall at 5:00 p.m. on Friday, April 2, 2004. 6L, it lann M. Stevens, Administrative Assistant AGENDA 1. Call to Order Chairman Cochran 2. Flag Salute 3. Roll Call 4. Consideration and appropriate action relating to a request for approval of the Consent Agenda. All matters listed under "Consent" are considered by the Trustees to be routine and will be enacted by one motion. Any Trustee may, however, remove an item from the Consent Agenda by request. A motion to adopt the Consent Agenda is non-debatable. A. Approval of the Minutes of the March 16, 2004 Regular Meeting. Attachment #4-A B. Approval of Claims. Attachment #4-B 11:\Agendas\0PWA\2004\040604 doc Owasso Public Works Authority April 6, 2004 Page 2 5. Consideration and appropriate action relating to Trustees approval of Resolution No. 2004® 03, a resolution authorizing the submission of a loan application to the Oklahoma Water Resources Board for the purpose of refinancing the remaining balance of the Authority's series 1993A promissory note to OW originally issued in the principal amount of $3,630,0009 designating legal and financial professionals to assist in the loan process; authoring the Chairman to execute certain application documents, and containing other provisions related thereto. Ms. Bishop Attachment #5 Staff recommends Trustee approval of Resolution No. 2004-03. 6. Consideration and appropriate action relating to Trustees approval of Resolution No. 2004- 04, a resolution authorizing the reimbursement of certain expenditures, with said expenditures to be reimbursed from the proceeds of tax - exempt obligation to be issued by the Authority; and containing other provisions related thereto. lbs. Bishop Attachment #6 Staff recommends Trustee approval of Resolution No. 2004-04. H: \Agendas \OPWA \2004 \040604. doc Owasso Public Works Authority April 6, 2004 Page 3 9. New Business. (New Business is any item of business which could not have been foreseen at the time of posting of the agenda.) 10. Adjournment, 11 e Age„a,s',Ol wW A\2004\040604.d.� M- "'W 0"1'! = I TAUIXT T MINUTES OF REGULAR MEETING Tuesday, March 16, 2004 The Owasso Public Works Authority met in regular session on Tuesday, March 16, 2004 in the Council Chambers at Old Central per the Notice of Public Meeting and Agenda posted on the City Hall bulletin board at 5:00 p.m. on Friday, March 12, 2004. ITEM 1. CALL TO ORDER Chairman Cochran called the meeting to order at 7:26 p.m. ITEM 1 FLAG SALUTE The flag salute was held during the City Council meeting preceding this meeting. ITEM 3. ROLL CALL A quorum was declared present. STAFF Rodney J. Ray, Authority Manager Ronald Cates, Authority Attorney ITEM 4. CONSIDERATION AND APPROPRIATE ACTION RELATING TO A REQUEST FOR APPROVAL OF THE CONSENT AGENDA A. Approval of Minutes of the March 2, 2004 Regular Meeting. B. Approval of Claims. Mr. Thoendel moved, seconded by Mr. Cataudella, to approve the OPWA Consent Agenda with claims totaling $36,988.56 and payroll claims totaling $43,646.73. YEA: Cataudella, Colgan, Kimball, Thoendel, Cochran NAY: None Motion carried 5-0. Owasso Public Works Authority ITEM 5. REPORT FROM OPWA MANAGER None ITEM 6. REPORT FROM OPWA ATTORNEY None ITEM 7. NEW BUSINESS None Pat Fry, Minute Clerk I March 16, 2004 Gary Cochran, Chair VE0OM AMD-l1 OFFICE DEPOT OFFICE SUPPLIES 95.30 SUBURBAN OFFICE SUPPLY OFFICE SUPPLIES 24.51 W0RUCOM COPY PAPER 41.90 L0VVESC(]MPAN}ES REPA|R/MA|NTSUPPL|E@ 2125 WAL-MART COMMUN|TY REPAIR/1MA|NTSUPPL|ES 28.41 SAMS &1A|NTSUPPL|ES 81.63 OFFICE DEPOT OFFICE SUPPLIES 8.50 OKLAHOMA NATURAL GAS 02/04 USE 302.63 K4ETROCALL 02/04 USE 7.12 THE TRAVELING GOURMET MEETING EXPENSE 30.00 AMERICAN PUBLIC WORKS ASSOC POSTER 20.00 EMBASSY SUITES ' LODGING-ROBERTS 129.00 EMBASSY SUITES LODG|N{;'CARR 129.00 TREASURER PETTY CASH PERD|EK8-CARR 84.00 ADMINISTRATION DEPT TOTAL K8EYER.MARK METER READINGS 573.30 OL|NQHOUSE. DAVID R. METER READINGS 502.65 D}NQNS.TYRONE METER READINGS 344.10 K8CLAUR)N.OSCAR METER READINGS 308.90 TOM O'BR|EN METER READINGS 153.90 WATER PRODUCTS INC METER WAND REPAIR 320.00 TECHNICAL PROGRAMMING SERVICES BILLING SERVICE 1.794.20 TECHNICAL PROGRAMMING SERVICES BILLING SERVICE 889.44 UTILITY BILLING DEPT TOTAL FARM PLAN SUPPLIES 86.85 MILL CREEK LUMBER &SUPPLY REPA|R/MA|NTSUPPL|ES 38.46 WATER PRODUCTS METER SET MATERIALS 3.708.93 LOVVES COMPANIES REPA|R/MA|NT3UPPL|ES 32.89 LDVVESC0k4RAN|ES REPA|R/MA|NTSUPPL|ES 90.84 ZEE MEDICAL SERVICE FIRST AID KITS 171.80 WATER PRODUCTS METER SET MATERIALS 5.42232 SAFETY FIRST TRAFFIC CONE MOUNTING BRACKETS 87.80 SAFETY FIRST TRAFFIC CONE MOUNTING BRACKETS 87.80 FARM PLAN SUPPLIES 65.00 GEORGE & GEORGE SAFETY PROTECTIVE CLOTHING 27.06 UN|F|RSTCDRPOF0\T|ON UNIFORM RENTALS 19.87 UN/F/R8TCORPOR/Q[|0N UNIFORM RENTALS 38.74 T-SHIRT EXPRESS ETC CAPS 42.00 MILL CREEK LUMBER &SUPPLY REPA|R/K8A|NTSUPPL/ES 73.88 WATER PRODUCTS REPA|R/MAiNTSUPPL/ES 840.06 BROWN FARMS SOD SOD 125.00 RAINBOW CONCRETE CONCRETE 703.75 WATER PRODUCTS WATER PUMP PARTS 63.00 WATER PRODUCTS WATER METERS 4.488.00 FARM PLAN SUPPLIES 28.05 VENDQH DESCRIPTION AM NT LOWES COMPANIES TUBING CUTTERS 15.44 CITY OF TULSA UTILITIES SERVICES PURCHASED WATER 116,210.42 URGENT CARE OF GREEN COUNTRY MEDICAL EVALUATION 15.00 NATIONAL POWER WASH VEHICLE WASHING 15.00 NATIONAL POWER WASH VEHICLE WASHING 15,00 SOUTHWESTERN BELL REPAIR/MAINT SERVICE 159.00 CITY OF TULSA LEAK DETECTION SERVICES 100.00 SOUTHWESTERN BELL NON - PLEXAR 77.94 METROCALL 02/04 USE 35.98 WATER DEFT TO`1°AL 132,962093 OFFICE DEPOT OFFICE SUPPLIES 57.80 HACH COMPANY LAB SUPPLIES 341.00 WAL -MART COMMUNITY OFFICE SUPPLIES 3.98 SAMS MAINT SUPPLIES 56.08 SOUTHWEST CHEMICAL SERVICES CHEMICALS 780.00 GEORGE & GEORGE SAFETY PROTECTIVE CLOTHING 27.06 UNIFIRST CORPORATION UNIFORM RENTALS 39.20 UNIFIRST CORPORATION UNIFORM RENTALS 58.40 T -SHIRT EXPRESS ETC CAPS 42.00 WW GRAINGER REPAIR/MAINT SUPPLIES 90.28 LOWES COMPANIES REPAIR/MAINT SUPPLIES 38.23 H & E ENGINEERED EQUIPMENT UV SYSTEM BALLAST 1,060.00 USFILTER ENVIREX PARTS - CLARIFIER SKIMMER 108.00 CABELAS SEINES 30.94 SHERRY LABORATORIES AMMONIA/CYANIDE 225.00 WASTE MANAGEMENT OF OKLA TIPPING FEES 2,669.48 METROCALL 02/04 USE 7.12 LOWES COMPANIES REFRIGERATOR 297.00 WW TREATMENT PLANT DEPT TOTAL 5,931.57 FARM PLAN MAINT SUPPLIES 23.66 FEDEX POSTAGE 28.17 WW GRAINGER MAINT SUPPLIES 19.47 GEORGE & GEORGE SAFETY PROTECTIVE CLOTHING 27.06 UNIFIRST CORPORATION UNIFORM RENTALS 42.55 UNIFIRST CORPORATION UNIFORM RENTALS 82.10 T -SHIRT EXPRESS ETC CAPS 42.00 FARM PLAN SUPPLIES 21.71 LOWES COMPANIES REPAIR/MAINT SUPPLIES 1.56 BROWN FARMS SOD SOD 1.78 B & B ELECTRIC REPAIR/MAINT SUPPLIES 126.50 EAGLE PRECAST MANHOLE MAINT SUPPLIES 629.00 FARM PLAN SUPPLIES 68.80 URGENT CARE OF GREEN COUNTRY MEDICAL EVALUATION 15.00 VERDIGRIS VALLEY ELECTRIC LIFT STATION ELECTRICITY 249.50 OKLAHOMA NATURAL GAS 02/04 USE 257.28 NATIONAL POWER WASH VEHICLE WASHING 15.00 NATIONAL POWER WASH VEHICLE WASHING 15.00 SOUTHWESTERN BELL NON- PLEXAR 59.00 Y-EN-DUQR FAP' 1-O0O3-L AMD-JNT SOUTHWESTERN BELL NON-PLEXAR 49.93 SOUTHWESTERN BELL NON-PLEXAR 46.71 METROCALL 02/04 USE 42.72 JPK4ORGAN CHASE BANK WASTEWATER DEPT TOTAL 9.723.05 WW GRA|NGER RERA/R/K8A|NTSU9PL|ES 54.86 WILLIAMS REFUSE EQUIPMENT CU RENTAL-REFUSE CONTAINERS 400.00 WILLIAMS REFUSE EQUIPMENT C[} RED POLYCARTS 3.075.00 WILLIAMS REFUSE EQUIPMENT C(] PDLYCARTPART3 2.163.75 GEORGE & GEORGE SAFETY PROTECTIVE CLOTHING 27.08 UN|F|RSTC[}RPORAT|ON UNIFORM RENTALS 20.48 GELLCO SAFETY SHOES WORK BOOTS 175.48 UN|F|RSTCORPORAT|ON UNIFORM RENTALS 52.98 T-SHIRT EXPRESS ETC CAPS 42.00 CROW BURL|NGA&1E REPA|R/MA|NT8UPPL|ES 3.78 ZEE MEDICAL SERVICE FIRST AID KITS 343.60 VVAL-MART COMMUN|TY SMALL TOOLS 0.96 NATIONAL POWER WASH VEHICLE WASHING 90.00 NATIONAL POWER WASH VEHICLE WASHING ' 05.00 K4ETROCALL 02/04 USE 35.00 WASTE MANAGEMENT OFC}KLA TIPPING FEES 0.457.98 REFUSE DEPT TOTAL WALMARTCOMMUN|TY SMALLTOOLS 23.79 UN|F|RSTCC)RPDR/A'|ON UNIFORM RENTALS 8.80 UN/F|RSTC0RPORAT/ON UNIFORM RENTALS 13.60 METR(]CALL 02/04 USE 7.12 WASTE MANAGEMENT (]FTULSA RECYCLE REFUSE 2.350.77 WASTE MANAGEMENT OF0KLA TIPPING FEES 2.201.27 MANUFACTURED HOUSING SPECIALIST EXTERIOR DOOR 275.00 RECYCLE DEPT TOTAL #"PWA OPERATING FUND TOTAL _T6_775_8�_All JPM0RQAN CHASE BANK FAP' 1-O0O3-L 4.684.23 JPM0RGAN CHASE BANK FAP-92'0107-L 23.808.88 JPKXC}RGAN CHASE BANK FAP-92-0107-L 2.820.22 JP[NORGANCHABE BANK ORF-01'0002-L 8.023.78 JPK4ORGAN CHASE BANK URF-02-0017-L 9.723.05 JPyNORGAN CHASE BANK ORF-99-008-L 2.180.70 CAPITAL IMPROVEMENTS FUND TOTAL JPMORGAN CHASE BANK 1OA7 REV BONDS 43.710.13 JPW1ORGAN CHASE BANK iO08 REV BONDS 95.089.04 OPWA SALES TAX FUND TOTAL OP0A GRAND TOTAL 101 A/P TRANSFER REPORT VENDOR DESCRIPTION AMOUNT TRANSFERS GENERAL FUND TRANSFER FROM OPWA 18,33333 TRANSFERS TOTAL 18,333.33 . . . .. . :" ©w < ;$ y DEPARTMENT 3/20/04 OVERTIME TOTAL EXPENSES EXPENSES Hill Utility Billing 29. ¥2 3,676.28 T'lastewater 2472 92 8972 «- « ^ «�x?■ � : ; #� ■ ■■ °! \° ,a Refuse 0.0 6,974.3 *:: ©�..,. a ■■ » ;\*■ P 1:9 TO- HONORABLE CHAIR AND TRUSTEES I OWASSO PUBLIC WORKS AUTHORIT FROM.- SHERRY BISHOP FINANCE DIRECTOR SUBJECT. RESOLUTION NO 2004-03 OWRB RE, FINANCING LOAN APPLICATION DATE: April 2, 2004 The Oklahoma Water Resources Board (OWRB) operates the State Revolving Fund (SRF) loan program and the Financial Assistance Program (FAP), These programs provide low interest financing for eligible municipal water & sewer projects. Since 1993, all of Owasso's water and wastewater projects have been financed by the OWRB. Working with the OWRB, our Financial Advisor, Wells Nelson & Associates, has determined that OPWA Series 1993A Note could be refinanced at a significant interest savings. The OWRB is creating a pool of borrowers to participate in a refunding bond issue. Actual interest amounts will not be available until the bonds are sold in May. Estimates are based on the current market. Should Owasso participate in the proposed refunding, the city's estimated savings in interest payments over the next eleven years would be $406,389 with a present value saving from cash flow of $325,033. It should be noted that the estimated cost of refinancing the 1993A Note is $101,800 providing an approximate $304,589 net cash flow saving. Resolution No. 2004-03 authorizes the application to the OWRB to refinance the loan. If the application is approved, authorization for the actual refinancing would require additional action by the OPWA Trustees and the City Council. Staff recommends Trustee approval of Resolution No. 2004-03 authorizing the Refinancing Loan Application to the OWRB. Resolution Igo. 2004903 (The resolution is not yet available and will be delivered to Trustees on Monday. Copies will be available to the public at the meeting on Tuesday or may be requested by contacting Sherry bishop at City Fall.) OWRB refinancing Loan Application OWRB letter dated 2/27/04 OKIAHOMA WATER RESOURCES BOARD REFINANCING LOAN APPLICATION APPLICATION NO® (This number is assigned by OWRB) APPLICANT INFORMATION A. Applicant Name Name: I Owasso Public Works Authority County: I Tulsa B. Applicant Address C. Applicant's Officers and Members (Name and Office held): Name Name: Office Hold Gary Cochran 111 North Main Chairman Susan Kimball OKC, OK 73102 Vice-Chairman Brent Colgan (918 ) 376-1551 Trustee Stove Cataudella Trustee Craig Thoendel Trustee W-11. Applicant's Chief Officer and/or person to whom all pre-application inquiries shourF., be directef#!: E. Applicant's Financial Consultant: Name: Name: Sherry Bishop Address: 111 North Main Phone: 918 376-1525 OKC, OK 73102 Owasso, OK 74055 Fax: (918 ) 376-1551 E. Applicant's Financial Consultant: Name: Keith McDonald Address: 101 Park Ave, Ste. 101 Phone: 405 239-9000 OKC, OK 73102 Fax: 405 228-1062 F 111. PROJECT FINANCING K, 4 :00:,0 0 0: A. Total amount of financing requested from the OWRB: NOTE: The OWRB anticipates that the requisite financial information is readilys 9vailable in the applicant's existing loan files at the OWRB. However, the OWRB reserves the right to request copies of additional information necessary to process; th -oan application, including annual audited financial statements and other information -iecessary for compliance with existing loan covenants. R1 VERIFICATION STATE OF OKLAHOMA ss. COUNTY OF TULSA 1, , being first duly sworn and upon oath states: that I am the duly authorized representative for the Applicant herein; that I have read the contents of the within and foregoing LOAN APPLICATION and is familiar with the contents thereof; and that the matters and information therein set forth are, to the best of Applicant's knowledge and belief, true and correct, Printed Name: fflo .OWASSO PUBLIC WORKS AUTHORITY (Applicant Name) (Applicant's Representative) Subscribed and sworn to before me this day of 2004. My Commission Expires- (Notary Public) 0111 mo �� �-11 k, DUANE A. SMITH EXECUTIVE DIRECTOR February 27, 2004 Ms. Sherry Bishop, Finance Director Owasso Public Works Authority P. 0. Box 180 Owasso, OK 74055 BRAD HENRY GOVERNOR As you are aware, the Owasso Public Works Authority (the "Authority") issued its $3,630,000 Series 1993A Promissory Note to the Oklahoma Water Resources Board (the "OWRB") on April 1, 1993. In consultation with Wells Nelson & Associates, as the Authority's Financial Advisor, it has been determined that the Series 1993A Note may be refinanced at significant debt service savings to the Authority. "0 —42's 3= J, e Freeman, Chief Financial Assistance Division cc: Wells Nelson & Associates Attachment 3800 N. CLASSEN BOULEVARD - OKLAHOMA CITY, OKLAHOMA 73118 - TELEPHONE (405) 5308800 - FAX (405) 5308900 Grady Grancistaff, Chairman a Glenn Sharp, Vice Chairman m Ervin Mitchell, Secretary Lonnie L. Farmer - Richard McDonald Bill Secrest - Harry Currie a Richard C. Sevenoaks - Jack Keeley www.owrb.state.ok.us me, TO. HONORABLE CHAIR AND TRUSTEES I OWASSO PUBLIC WORKS AUTHORIT FROM- SHERRY BISHOP FINANCE DIRECTOR SUBJECT: RE, SOLUTION NO. 2004-04 REIMBURSEMENT RESOLUTION DATE® April 2, 2004 The permanent financing with the local banks will be tax-exempt and therefore subject to IRS regulations concerning tax-exempt debt. The tax code restricts the use of the proceeds of tax-exempt debt when paying for ppst expenditures. The OPWA must declare its official intent to reimburse itself with the proceeds of tax-exempt debt. That declaration can cover a limited time period only of the past sixty days and sixty days into the future and must specify the projects and estimated amounts of expenditures. On January 6'h, the OPWA Trustees approved Resolution No. 2004-01 for this same purpose. That resolution covered the sixty days before and after January 6th. Another resolution is needed to cover the next sixty day time period. OPWA Resolution No. 2004-04 is the official declaration of intent to reimburse ourselves with the proceeds of tax-exempt debt. A series of reimbursement resolutions for a sixty-day period covering the current projects is anticipated in order to continue progress on capital improvement projects utilizing the RAN as construction financing. When the construction draw on the RAN nears the $4,000,000 level, those funds will be replaced by the bank financing. Then another cycle of reimbursement resolutions and draws on the RAN will begin. Staff recommends Trustee approval of Resolution No. 2004 -04 authorizing the reimbursement of certain expenditures, ATTACHMENTS. OPWA Resolution No. 2004 -04 (The resolution is not yet available and will be delivered to Trustees on Monday, April 5, 20040 Copies will be available to the public at the meeting on Tuesday or may be requested by contacting Sherry Bishop at City Halle)