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| Date: 7/1/2013 | Board: Shawnee Municipal Authority | DocumentType: Minutes | Web Posted: 7/16/2013 10:03:36 AM |
THE TRUSTEES OF THE SHAWNEE MUNICIPAL AUTHORITY OF THE CITY OF SHAWNEE, COUNTY OF POTTAWATOMIE, STATE OF OKLAHOMA, MET IN REGULAR SCHEDULED SESSION IN THE COMMISSION CHAMBERS AT CITY HALL, 9TH AND BROADWAY, SHAWNEE, OKLAHOMA, MONDAY, JULY 1, 2013, DURING THE BOARD OF CITY COMMISSIONERS MEETING AT 6:30 P.M., PURSUANT TO NOTICE DULY POSTED AS PRESCRIBED BY LAW. UPON ROLL CALL, A QUORUM WAS DECLARED WITH THE FOLLOWING MEMBERS IN ATTENDANCE:
PRESENT: Agee, Mainord, Hall, Winterringer, Smith
ABSENT: Stephens, Harrod
Call to Order
Declaration of a Quorum
AGENDA ITEM NO. 1: Consider approval of Consent Agenda
a. Minutes from the June 17, 2013 regular meeting
b. Accept Midland Street Water Line Replacement Project and place maintenance bonds into effect.
c. Accept Belfair Memory Care Water Line Extension Project and place maintenance bonds into effect.
d. Authorize staff to purchase a 12 yard tandem dump truck from the state contract bid.
e. Acknowledge Wes Watkins Reservoir (City of McLoud) Budget for FY 2013-14.
A motion was made by Trustee Smith, seconded by Trustee Winterringer, to approve the Consent Agenda item Nos. 1(a-e). Motion carried 5-0.
AYE: Smith, Winterringer, Agee, Mainord, Hall
NAY: None
AGENDA ITEM NO. 2: Consider and take action with respect to a resolution authorizing the execution of professional services agreements pertaining to the financing of certain capital improvements by The Shawnee Municipal Authority (the “Authority”), including the construction of water park improvements and municipal communications improvements and equipment; authorizing the authority’s financial advisor to distribute bid packages to prospective financial institutions in connection with the referenced financing; and containing other provisions relating thereto.
Mr. Chris Gander of BOSC, and Mr. Nate Ellis of the Public Law Finance Group, both came before the Commission to explain the financing options regarding Shawnee Municipal Pool. It was noted that it was previously thought that the construction of the radio tower on the north side of Shawnee would be included in this financing package, however, it appears that a better tower option will be a lease with Motorola. This item will appear on a future agenda. Regarding the pool financing, Mr. Gander and Mr. Ellis both noted that volatility of the market as the present time. The current interest rate today is 2.4%, however, the rate may be subject to change. It was determined by the Commissioners present that loan terms would be for seven years. The passing of the proposed resolution will allow the bond counsel to go forward with trying to secure financing.
Resolution No. SMA-2013-4 was introduced.
A RESOLUTION AUTHORIZING THE EXECUTION OF PROFESSIONAL SERVICES AGREEMENTS PERTAINING TO THE FINANCING OF CERTAIN CAPITAL IMPROVEMENTS BY THE SHAWNEE MUNICIPAL AUTHORITY (THE “AUTHORITY”), INCLUDING THE CONSTRUCTION OF WATER PARK IMPROVEMENTS; AUTHORIZING THE AUTHORITY’S FINANCIAL ADVISOR TO DISTRIBUTE BID PACKAGES TO PROSPECTIVE FINANCIAL INSTITUTIONS IN CONNECTION WITH THE REFERENCED FINANCING; AND CONTAINING OTHER PROVISIONS RELATING THERETO.
A motion was made by Trustee Smith, seconded by Trustee Hall, to approve a resolution authorizing the execution of professional services agreements pertaining to the financing of certain capital improvements by The Shawnee Municipal Authority (the “Authority”), including the construction of water park improvements and municipal communications improvements and equipment; authorizing the authority’s financial advisor to distribute bid packages to prospective financial institutions in connection with the referenced financing; and containing other provisions relating thereto. Motion carried 5-0.
AYE: Smith, Hall, Winterringer, Agee, Mainord
NAY: None
AGENDA ITEM NO. 3: Consider Bids:
a. Jefferson Terrace Water Line Replacement Project (Open)
BIDDER AMOUNT
Davenport Construction $606,011.00
Edmond, OK
Jordan Contractors, Inc. $579,887.00
Tecumseh, OK
Orion Construction $428,779.38
Oklahoma City, OK
Public Works Director Steve Nelms read the bids into the record and requested that the bid award be deferred to the next meeting to allow staff to review and check references.
A motion was made by Trustee Winterringer, seconded by Trustee Hall, to defer the bid award to the July 15, 2013 Shawnee Municipal Authority meeting. Motion carried 5-0.
AYE: Winterringer, Hall, Smith, Agee, Mainord
NAY: None
AGENDA ITEM NO. 4: New Business (Any matter not known about or which could not have been reasonably foreseen prior to the posting of the agenda)
There was no new business.
AGENDA ITEM NO. 5: Administrative Reports
There was no Administrative Reports.
AGENDA ITEM NO. 6: Adjournment
There being no further business to be considered, the meeting was adjourned by power of the Chair. (7:19 p.m.)
__________________________________
WES MAINORD
ATTEST: CHAIRMAN
(SEAL)
______________________________
PHYLLIS LOFTIS, CMC
SECRETARY
NOTICE: This is NOT an official document. All official documents are maintained by the Shawnee City Clerk at Shawnee City Hall.
This document is provided as a public information device. Please contact City Hall at 405-878-1604 for official documents.