04-22-1998 Meeting - Laserfiche WebLink

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• LA PORTE AREA WATER AUTHORITY MINUTES Apri122, 1998 The meeting was called to order at 6:45 PM by Secretary Albert Fields Members Present: Secretary Albert Fields, Member Robert Roy and Chester Pool. Members Absent: President Jerry Bramlett and Vice President Rodney J. Etchberger Others Present: General Manager Robert T. Herrera, Assistant City Manager/Finance Director Jeff Litchfield, and Director of Public Works Steve Gillett. 2. The minutes from the regular meeting held March 18, 1998 were reviewed. Motion by Robert Roy, seconded by Chester Pool to accept the minutes as written. Motion was unanimous. 3. Jeff Litchfield distributed a memo to the Board outlining the progress to date (copy attached). He reviewed the contents and answered questions form the Board. He outlined the three financing methods to raise the necessary capital to complete the purchase by the proposed Transfer Date. General Manager Robert T. Herrera reported that GCWA and Galveston have not yet agreed to the proposed contract, and that the target date for their bond sale on May 7, 1998 is in jeopardy. Additionally, the Proposed contract, which was received just prior to the Board meeting, is not yet acceptable the Authority. Jeff Litchfield reviewed the contract, and pointed out the areas that are still objectionable. Robert T. Herrera and Jeff Litchfield answered questions from the Board. The General Manager recommended that the Authority meet next Monday, Apri127, 1997 at 5:30 PM prior to the scheduled La Porte City Council meeting to consider approval of the contract, should it be successfully negotiated. The Board agreed to meet at that time. 4. There was no General Manager's report. 5. There being no further business, motion made by Chester Pool, seconded by Robert Roy to adjourn. The motion was unanimous and the meeting adjourned at 7:55 PM. Al Fields, Secretary/Treasurer PASSED AND APPROVED ON THIS DAY ~9y~~ f Z 7~ , 1998. ,~ Bra left, President