10-16-1997 Meeting - Laserfiche WebLink

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• • LA PORTE AREA WATER AUTHORITY b~IINUTES OCTOBER 16, 1997 PAGE 2 4. Steve Gillett presented a report from the City of Houston on the proposed interim expansion of the Southeast Water Purification Plant. He answered questions from the Board regarding the proposed expansion. Robert Herrera discussed the proposed purchase of additional capacity from the City of Galveston, as approved at the last meeting, and updated the Board on progress. Robert Herrera presented a report on Groundwater Credits through the Subsidence District and answered questions form the Board. Robert Herrera reported that no progress has been made with discussions with the City of Deer Park regarding possible capacity at the Deer Park Water Treatment Plant. 5. Jeff Litchfield discussed his financial projections outlined in his report, and reviewed potential sources of funding for the proposed purchase of additional capacity, and reviewed the hypothetical growth of the Capital Fund. Mr. Litchfield answered questions from the Board regarding his projections. 6. 7effLitchfield discussed the possibility of refunding the Authority's outstanding debt, with a potential to refund no earlier than December 1, 1998, and answered questions from the Board. Motion by Al Fields, seconded by Rob Roy, to pursue refunding of outstanding bonds as conditions warrant. Motion was unanimous. General Manager Robert Herrera will continue to update the Board as more information becomes available. 7. There being no further business, motion made by Al Fields, seconded by Rob Roy to adjourn. The motion was unanimous and the meeting adjourned at 11:14 AM. Al Fields, Secretary/Treasurer PASSED AND APPROVED ON THIS DAY ~ ,2, - ~ , 1997. Je ett, President