HomeMy WebLinkAbout1997-03-03 WUCFD MINUTESDISTRICT BOARD OF THE
WATER UTILITIES COMMUNITY FACILITIES DISTRICT
CITY OF APACHE JUNCTION, ARIZONA
MARCH 3, 1997 - 6:00 P.M.
MEETING MINUTES
BOARD OF DIRECTORS ROLL CALL:
Chairperson Douglas Coleman
Vice Chairperson Patricia Richmond
Mrs.Robin Barker
Mr.Joe Durbala
Ms.Carol Urich
Mr.Keith Hendricks
Mrs.Anne Surra
Others Present:
Curtis Shook,District Manager
Kathleen Connelly,District Clerk
George Hoffman,Asst.City Manager
Doug Dobson,District Operating Mgr.
Keith Lewis,District Treasurer
1.Call to order.
2.Roll call.
3.Approval of minutes of February 3,1997.
Mrs. Barker moved to approve the minutes of the February 3,1997, meeting.Vice
Chairperson Richmond seconded the motion.The vote was unanimous.
4.Discussion and action on proposal for the design and preparation of the
bid documents for a water storage tank.
District Manager Curtis Shook briefed the board on the bid documents.He stated
Doug Dobson and the consultant,Bill Plummer,went over the bids.He then
deferred to Doug Dobson for his recommendation.
District Operating Manager Doug Dobson stated six companies had given proposals
and his recommendation was Yost and Gardner.They were substantially lower in
price than the third place proposal.They are the engineering firm that
originally designed Consolidated Water.Though they are small, they are familiar
with the system,do good work and gave a great price.There is a March 15
deadline and they stated they would have everything back to the district within
3 weeks,which beats the deadline by one week.
Vice Chairperson Richmond moved that Yost and Gardner Engineers be awarded the
bid for the million gallon ground storage tank.Mrs.Surra seconded the motion.
The vote was unanimous.
5.District Manager report.
District Manager Curtis Shook stated they are one day away from water moving
through the new well.It was originally scheduled to be blended today,however
Water Utilities Community Facilities District
Meeting Minutes of March 3,1997
Page 1 of 3
the state official who could give the approval was sick and no one else in the
office would give the approval.
District Operating Manager Doug Dobson stated a lot of effort was put in today
trying to get the water turned on,and at 4:55 p.m.he was told he could wait
until tomorrow afternoon.There is water in the pipe going into the tank,so
within seconds of the well being turned on it will be running in.
District Manager Curtis Shook stated regarding the bond proceeds they are hoping
to market the bonds by the end of this month and it looks good for a rated issue.
Of the five major companies contacted,one did not want anything to do with it
and three stated the district did not have a long enough history of audited
statements that would satisfy the corporation commission standards and therefore
declined to give approval on a rated issue.A rated issue is an insured issue
that would drop the cost of money by a half to a full percentage point.An
agency in the second tier is interested in offering a rated issue and they are
working with them now.
Mrs.Surra asked if Wells Fargo is working with the district in the same
direction now.
District Manager Curtis Shook stated they have a different view of the district
than First Interstate did.Wells Fargo has no interest and has closed down the
department,but they are maintaining the short term loans in the portfolio.
Mrs.Surra asked if the district is pursuing other avenues for other kinds of
business relationships with Wells Fargo.
District Manager Curtis Shook stated they are not.He believes the entire
financial package will go out to bid this summer or fall.
6.District Treasurer report.
District Treasurer Keith Lewis briefed the board on the report in front of them.
He stated he paid $103,000 for the well and only borrowed $42,000 from the loan.
The rest was paid by the di strict.There is still a balance in the investment
of $300,000.He believes they are doing well.He talked with the auditors
Saturday and they are in the process of the audit review for the city and the
water district.That report will show a deficit because of depreciation, but the
district is holding its own.He did not receive an interest statement from Wells
Fargo until today,and he will be changing the bank.He gets no service from
them either.The bill he received today was for $16,000.
7.District Counsel report.
None.
8.Adjournment.
Water Utilities Community Facilities District
Meeting Minutes of March 3,1997
Page 2 of 3
Adjournment at 6:14 p.m.
Douglas foleman
Chairperson
elly G(Kathleen Connelly
District Clerk
WATER UTILITIES COMMUNITY FACILITIES DISTRICT MINUTES
CERTIFICATION
I hereby certify that the foregoing minutes are a true and correct copy of the
minutes of the regular meeting of the Water Utilities Community Facilities
District of the City of Apache Junction,Arizona,held on the 3rd day of March,
1997.I further certify that the meeting was duly called and held and that a
quorum was present.
Dated this 4th day of March,1997.
Kathleen Connelly
District Clerk
Water Utilities Community Facilities District
Meeting Minutes of March 3,1997
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