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<br /> <br />LA PORTE AREA WATER AUTHORITY <br />MINUTES <br />SEPTEMBER 8,1999 <br />The meeting was called to order at 6:00 PM by President Rodney J. Etchberger <br />Members Present: President, Rodney J. Etchberger Vice President Robert Roy, <br />Secretary Chester Pool, and Member Jerry Bramlett. <br />Members Absent: Member Albert Fields. <br />Others Present: General Manager Robert T. Herrera, Assistant City <br />Manager/Finance Director Jeff Litchfield, Assistant City Manager John Joerns, <br />Director of Public Works Steve Gillett, David Fetzer of Maroney &Beissner and <br />Paul Martin. <br />2. David Fetzer of Maroney &Beissner explained the bidding format for the <br />proposed bond refunding. He reported that bids had been received from six (6) <br />bidders, and the. bids were opened and read aloud. After the bids were opened~w <br />and read, he made a recommendation that the bid from ,.Securities, L.P. be <br />accepted at a net effective interest rate of 5.159277%. ~e er stated that the <br />bonds were to be insured by MBIA, and that they would be sold as AAA <br />securities. <br />Motion by Robert Roy, seconded by Chester Pool, to accept the bid submitted by <br />Nike Securities, L.P. Motion was unanimous <br />3. There being no further business, the meeting adjourned at 6:16 PM. <br />Chester Pool, Secretary/Treasu r <br />PASSED AND APPROVED <br />ON THIS DAY <br />~~--' <br />R ey J. chberger, esident <br />