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I � <br /> LA PORTE AREA WATER AUTHORITY <br /> MINUTES <br /> AUGUST 5, 2010 <br /> 1. The meeting was called to order at 6:00 PM by President Dennis Steger. <br /> Members Present: President Dennis Steger, Vice President David Janda, Secretary Kenneth <br /> Schlather, Member Steve Valerius. <br /> Members Absent: None. <br /> Others Present: General Manager Ron Bottoms, Director of Public Works Steve Gillett, Director <br /> of Finance Michael Dolby and John Robuck of RBC Capital Markets. <br /> 2. The minutes from the meeting held April 13, 2010 were reviewed. Motion by Kenneth Schlather, <br /> second by Steve Valerius to approve the minutes as presented. Motion was unanimous. <br /> 3. General Manager Ron Bottoms presented the proposed FY 2010 -2011 LPAWA budget and <br /> answered questions from the Board. Kenneth Schlather questioned why the budget figures from <br /> FY 2009 -2010 on the current budget were different from the numbers presented last year. The <br /> difference was less than $1,000. General Manager Ron Bottoms promised that the difference <br /> would be researched and an answer would be furnished. <br /> Motion by Kenneth Schlather, second by Steve Valerius, to approve the FY 2010 -2011 LPAWA <br /> budget. Motion was unanimous. <br /> 4. John Robuck of RBC Capital Markets outlined the need to retroactively approve the Financial <br /> Advisory Agreement, with an effective date of April 13, 2010. General Manager answered <br /> questions from the Board, and stated that the new resulted in a savings of over $17,000. <br /> Motion by Steve Valerius, second by Kenneth Schlather to approve the agreement. Motion was <br /> unanimous. <br /> 5. General Manager Ron Bottoms explained the new Financial Advisory Agreement would carry <br /> forth from July 1, 2010. <br /> Motion by Kenneth Schlather, second by David Janda to approve the new Financial Advisory <br /> Agreement, effective July 1, 2010. Motion was unanimous. <br /> 6. There was no General Manager's report. <br /> 7. There were no Board comments. <br /> 8. There being no further business, the meeting adjourned at 6:21 PM. <br /> Secretary <br /> PASSED AND APPROVED <br /> ON T0HJ IISS DAY <br /> President <br />