HomeMy WebLinkAbout1986-07-30 Min - Board Truckee Donner Public Utility District
Post Office Box 309 e 11570 Donner Pass Road a Truckee, California 95734
(916) 587.3896
4000
SPECIAL MEETING
Wednesday, July 30, 1986
7:00 P.M. -- TDPUD Board Room
A G E N D A
1. Call to order
2. Roll call
3. Consideration and authorization to execute finalized documents
pertaining to the financing of the new TDPUD complex
4. Adjournment
C E R T I F I C A T I O N
I hereby certify that the foregoing agenda has been posted in the District
office and Government Center, provided to the U. S. Post Office and County
Library for posting, and mailed to the Directors and interested parties on
July 2$; 1986.
Susan M. Craig, Deputy DistrLf.4t Clerk
�s
SPECIAL MEETING
July 30, 1986
The special meeting of the Board of Directors of the Truckee Donner Public
Utility District was called to order by President Maass 7:10 P.M.
ROLL CALL: Directors Corbett , Sutton and Maass were present. Directors
Cooley and Hamilton were absent.
EMPLOYEES PRESENT: Peter Holzmeister and Susan Craig.
CONSULTANTS PRESENT: Counsel John Phelps and Financial Advisor Alan
Miller.
OTHERS PRESENT: There were no others present in the audience.
It was learned Director Hamilton could be present and the meeting was
recessed until his arrival at 7:40 P.M.
CONSIDERATION AND AUTHORIZATION TO EXECUTE FINALIZED DOCUMENTS PERTAINING
TO THE FINANCING OF THE NEW TDPUD COMPLEX
The Chairman advised that the documents being considered at this meeting
were approved previously subject to the final figures being acceptable and
entered into the documents.
Manager Holzmeister and Mr. Miller reviewed with the Board the Preliminary
Official Statement and other documents pertinent to the financing of the
new complex. t He noted that the interest is 7 .66% , less than was
anticipated. The long term interest rates are set at 7.75% after 2001 , and
the District will pay out in principle and interest approximately $275,000
annually. The contract of purchase was reviewed; the amount of
certificates is $31050,000.
After some general discussion , Counsel Phelps advised that a motion
authorizing the signing of the documents is necessary. Director Corbett
moved that the Board authorize the President to sign the documents;
seconded by Director Hamilton.
Director Sutton questioned the accuracy of information in the Preliminary
Official Statement dated July 23. She wondered whether the word "pressure"
(having to do with pressure zones) on Page 35 under water rates was the
right term. The Chairman and Manager assured her it is. She also stated
that the general information regarding the possible incorporation of
Truckee on Page 43 is erroneous because such incorporation could affect the
operations and financial status of the PUD and possibly trigger
disorganization of the District. This would have an adverse effect on
those persons who have purchased certificates. She noted there is an
over-estimation of the number of customers and also said that the Statement
is incorrect in reporting that Tahoe Area Rapid Transit (TART) provides
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regional transportation in the area.
ROLL CALL vote on the potion made and seconded to authorize the President
to sign the documents pertaining to the financing of the new complex:
Cooley, absent; Sutton, no; Corbett, Hamilton and Maass , aye. SO MOVED.
ADJOURNMENT
There being no further business before the Board, Director Hamilton moved
that the meeting be adjourned; seconded by Director Corbett and passed
unanimously. SO MOVED at 7:50 P.M.
TRUCKEE DONNER PUBLIC UTILITY DISTRICT
C'
?es A. Maass , President
Prepared by
Susan M. Craig, Deputy District Cl
d5.14
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