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~ `, <br />i <br />LA PORTE AREA WATER AUTHORITY <br />~~~~ ~~ ~ ~~ ~ ~ ~ MINUTES <br />~~~~~~~;' (~ March 18, 1998 <br />The meeting was called to order at 6:37 PM by Vice President Rodney <br />Etchberger. <br />Members Present: Vice President Rodney J. Etchberger, Secretary Albert Fields, <br />and Member Chester Pool. <br />Members Absent: President Jerry Bramlett, Member Robert Roy. <br />Others Present: Assistant City Manager John Joerns, Assistant City <br />Manager/Finance Director JeffLitchfield, Director of Public Works Steve Gillett, <br />Null & Associates representative Chris Breaux. <br />2. The minutes from the regular meeting held December 2, 1997 were reviewed. <br />Motion by Al Fields, seconded by Chester Pool to accept the minutes as written. <br />Motion was unanimous. <br />JeffLitchfield introduced Chris Breaux of Null & Associates. He discussed the <br />audit conducted by his firm. He stated that the financial statements of the <br />Authority accurately depicted the condition of the Authority and were in <br />conformance with generally accepted accounting principles. Motion by Chester <br />Pool, seconded by Al Fields to accept the Annual Financial Report for Fiscal Year <br />ending September 31, 1997. Motion was unanimous. <br />4. JeffLitchfield reviewed the Results of Operations for FY 1.997, and answered <br />questions from the Board. Motion by Chester Fields, seconded by Al Fields to <br />accept the Report. Motion was unanimous. <br />JeffLitchfield reported on the proposal to purchase additional capacity at the <br />Southeast Water Purification Plant, and presented a report on the financing <br />proposed for the purchase. He answered questions from the board regarding the <br />commitment of La Porte, Shoreacres and Morgan's Point to participate. Motion <br />by Al Fields, seconded by Chester Pool to instruct staff to begin negotiations with <br />the Authority's customers to purchase the additional capacity. Motion was <br />unanimous. <br />6. JeffLitchfield presented a proposed contract between the Authority and Moroney <br />& Beisner & Co. to provide financial Advisor Services, and answered questions <br />from the Board. Motion by Al Fields, seconded by Chester Poo] to approve the <br />Contract. Motion was unanimous. <br />