HomeMy WebLinkAbout1996-11-12 Min - Board TRUCKEE DONNER PUBLIC UTILITY DISTRICT
SPECIAL MEETING
November 12, 1996
In accordance with District Code Section 2.08,010. the TDPUD minutes are action only
minutes. All Board meetings are recorded on audio tapes which are preserved Re erR tually
and made available for listening to any interested 12ady their request.
The special meeting of the Board of Directors of the Truckee Donner Public Utility District was
called to order at 4:06 PM in the TDPUD Board Room by President Hemig.
ROLL CALL: Directors Joe Aguera, Ron Hemig and Bob Jones were present, James Maass was
absent, Pat Sutton was expected.
EMPLOYEES PRESENT. Mary Chapman, Susan Craig and Peter Holzmeister.
CONSULTANTS PRESENT. Attorney Steve Gross, Virginia Hoder of Rauscher Pierce Refsnes,
Inc.; Special Counsel David Casnocha.
OTHERS PRESENT. Ruth Frishman, Herb Gaarder, Harry Smith and Bruce Turner, Directors of
the TDPUD Financing Corporation.
PUBLIC INPUT. There was no public input.
STAFF REPORT REGARDING REFUNDING OF THE 1991 WATER SYSTEM IMPROVEMENT
PROJECT CERTIFICATES OF PARTICIPATION
Director Sutton arrived at this point.
Virginia Horfer explained the financial aspects of the refinancing of the District's water system debt
and reviewed the refunding analysis, sources and uses of funds, savings and yield summaries, an
historical rate comparison of 30 year treasury versus bond buyer 25 revenue bond index and the
preliminary official statement.
Mr. Casnocha briefly summarized the resolution which will authorize the execution and delivery of
the documents as well as the documents themselves-the installment purchase agreement, trust
agreement, escrow agreement, continuing disclosure agreement, contract of purchase and official
statement.
CONSIDERATION OF A RESOLUTION AUTHORIZING THE EXECUTION AND DELIVERY OF
AN INSTALLMENT PURCHASE AGREEMENT, A TRUST AGREEMENT, AN ESCROW
AGREEMENT, A CONTINUING DISCLOSURE AGREEMENT, A CONTRACT OF PURCHASE
AND AN OFFICIAL STATEMENT AND CERTAIN OTHER ACTIONS IN CONNECTION
THEREWITH
After some discussion, Director Jones moved, and Director Sutton seconded, that the Board adopt
Resolution No. 9632 authorizing the execution and delivery of an installment purchase agreement,
a trust agreement, an escrow agreement, a continuing disclosure agreement, a contract of
purchase, an official statement and certain other actions in connection therewith. ROLL CALL:
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Aguera, Jones, Sutton and Hemig, aye, Maass, absent. SO RESOLVED.
ADJOURNMENT
There being no further business before the Board, Director Aguera moved that the meeting be
adjourned at 4:51 PM, seconded by Director Sutton. ROLL CALL: all Directors, aye. SO MOVED.
TRUCKEE__q DO ER P=DISTRICT
'Otis
J. Hemig, Pros
Prepared by
Susan M. ray , Deputy District Clerk
smc
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