HomeMy WebLinkAbout09-08-1999 Meeting
LA PORTE AREA WATER AUTHORITY
MINUTES
SEPTEMBER 8,1999
The meeting was called to order at 6:00 PM by President Rodney J. Etchberger
Members Present: President, Rodney J. Etchberger Vice President Robert Roy,
Secretary Chester Pool, and Member Jerry Bramlett.
Members Absent: Member Albert Fields.
Others Present: General Manager Robert T. Herrera, Assistant City
Manager/Finance Director Jeff Litchfield, Assistant City Manager John Joerns,
Director of Public Works Steve Gillett, David Fetzer of Maroney &Beissner and
Paul Martin.
2. David Fetzer of Maroney &Beissner explained the bidding format for the
proposed bond refunding. He reported that bids had been received from six (6)
bidders, and the. bids were opened and read aloud. After the bids were opened~w
and read, he made a recommendation that the bid from ,.Securities, L.P. be
accepted at a net effective interest rate of 5.159277%. ~e er stated that the
bonds were to be insured by MBIA, and that they would be sold as AAA
securities.
Motion by Robert Roy, seconded by Chester Pool, to accept the bid submitted by
Nike Securities, L.P. Motion was unanimous
3. There being no further business, the meeting adjourned at 6:16 PM.
Chester Pool, Secretary/Treasu r
PASSED AND APPROVED
ON THIS DAY
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R ey J. chberger, esident