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HomeMy WebLinkAbout1997-03-31 WUCFD MINUTES NOTICE OF MEETING AND AGENDA OF THE DISTRICT BOARD OF THE WATER UTILITIES COMMUNITY FACILITIES DISTRICT CITY OF APACHE JUNCTION, ARIZONA Pursuant to A.R.S. §38-431 .02, notice is hereby given to the members of the District Board of the Water Utilities Community Facilities District, City of Apache Junction, Arizona, and to the general public, that on Monday, March 31, 1997, at 6:00 p.m., the District Board of the Water Utilities Community Facilities District will hold a meeting open to the public at 6:00 p.m. in the City Council Chambers, 1001 N. Idaho Rd., Apache Junction, AZ. The agenda for the meetings is as follows: AGENDA 1 . Call to order. 2. Roll call. 3. Approval of minutes of March 3, 1997. 4. Discussion on and acknowledgement of receipt of Rate Study and Audit Report. 5. Discussion and action on final payment to Beeman Drilling for drilling of well. 6. Discussion and action on purchase of recharge credits; authorization for district manager to enter into agreement for purchase of recharge credits. 7. District Manager report. 8. District Treasurer report. 9. District Counsel report. 10. Adjournment. Copies of this agenda and additional information on any of the items listed above may be obtained from the office of the City Clerk/District Clerk, 1001 N. Idaho Road, Apache Junction, AZ 85219, Monday through Friday, 8:00 a.m. to 5:00 p.m., excluding holidays. Dated this 26th day of March, 1997. Kathleen Connelly District Clerk DISTRICT BOARD OF THE WATER UTILITIES COMMUNITY FACILITIES DISTRICT CITY OF APACHE JUNCTION, ARIZONA MARCH 31, 1997 - 6:00 P.M. MEETING MINUTES BOARD OF DIRECTORS ROLL CALL: Others Present: Chairperson Douglas Coleman Curtis Shook, District Manager Vice Chairperson Patricia Richmond Kathleen Connelly, District Clerk Mrs. Robin Barker George Hoffman, Asst. City Manager Mr. Joe Durbala Doug Dobson, District Operating Mgr. Ms. Carol Urich Keith Lewis, District Treasurer Mr. Keith Hendricks Bill Farrell , District Counsel Mrs. Anne Surra R.E. Eck, Board of Director-Elect Virginia McClain, Board of Director- Elect 1. Call to order. 2. Roll call . 3. Approval of minutes of March 3, 1997. Mrs. Barker moved to approve the minutes of the March 3, 1997, meeting. Vice Chairperson Richmond seconded the motion. The vote was unanimous. 4. Discussion on and acknowledgement of receipt of Rate Study and Audit Report. District Manager Curtis Shook briefed the board on the item. He stated they are now looking at trends and summarizing the pros over the next week or two. He stated the utility is very healthy at this point. The district treasurer will talk about the cash flows, but the rate study shows the rates are sufficient for the depreciation to be built in and to provide $50,000 in annual funds for ongoing capital improvements. He stated the board should remember they are deferring expenses with personnel at this time as city personnel is directly overseeing the management. As more customers are added, additional meter readers and personnel will be needed. Ms Urich moved to acknowledge receipt of the rate study and audit report. Vice Chairperson Richmond seconded the motion. The motion passed unanimously. 5. Discussion and action on final payment to Beeman Drilling for drilling of well . District Operating Manager Doug Dobson briefed the board on this item. The original agreement was for 1200 feet, the actual depth drilled was 1325 feet. Water Utilities Community Facilities District Meeting Minutes of March 31, 1997 Page 1 of 5 will be $6 million, with an actual $7.150 million borrowed. They are requiring a debt replacement account. The sale should take place on or before April 1. He stated a number of good things are beginning to happen. New services are being added with the new well on line, new storage tanks are coming, the height of water being stored in the present tanks is steady and we no longer have to draw water from Arizona Water, which had amounted to $92,000 so far this year. This will save approximately $120,000 per year. District Manager Curtis Shook stated the new well is pumping 530 gallons a minute and we are maintaining full storage tanks at the facility on Buena Vista. District Operating Manager Doug Dobson stated a compliance inspection was held on March 14 and the district was in compliance with the operation and maintenance system. He commented on the lending program being approved and no further water required from Arizona Water. He stated the standpipe is operational at the CAP location on Ironwood and we can now sell construction water. The next small project is a standpipe at the public works yard for drinking water, which should be done in two weeks to four weeks. Today preliminary plans were received on the million gallon storage tanks with a targeted completion date of June 15. 8. District Treasurer report. District Treasurer Keith Lewis briefed the board on the report in front of them. He stated if things continue they way they are going, there will be a much better year end and with no deficit balance. There should be a positive balance, even with the depreciation taken into consideration. Mrs. Surra asked when they would start paying back the City of Apache Junction. District Manager Curtis Shook stated one payment has already been made. He stated they are hoping to make one major payment per year and have it paid off in three to four years. The city will also be paid interest on its money. Ms Urich complimented the treasurer on the small miscellaneous category. District Treasurer Keith Lewis stated those are mostly bank charges. 9. District Counsel report. District Counsel Bill Farrell stated they would be back on April 14 with some resolutions regarding the bond sale. There is a meeting tomorrow with attorneys to go over the bonding documents. If there is anything further on the rating or contract they will give them a memo tomorrow evening. He corrected the district manager in stating the bonds should be sold by May 1, not April 1. Chairperson Coleman asked if there has been any negative impact from the failure of other community facility districts in our area in so far as interest rates or bonding ability. Water Utilities Community Facilities District Meeting Minutes of March 31, 1997 _ Page 3 of 5 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 31st day of March, 1997. I further certify that the meeting was duly called and held and that a quorum was present. Dated this 1st day of April , 1997. Kathleen Connelly District Clerk Water Utilities Community Facilities District Meeting Minutes of March 31, 1997 Page 5 of 5