HomeMy WebLinkAbout05-28-03 Regular Meeting of the La Porte Area Water Authority Minutes
LA PORTE AREA WATER AUTHORITY
MINUTES
May 28, 2003
1. The meeting was called to order at 6:32 PM by President Robert Roy.
Members Present: President Robert Roy, Vice President Paul Berner, and
Member Robert T. Herrera.
Members Absent: Secretary Chester Pool
Others Present: General Manager Debra Feazelle, Director of Public Works
Steve Gillett and Assistant Director of Finance Michael Dolby.
2. The minutes from the meeting held February 11, 2003 were reviewed. Motion by
Robert Herrera, second by Paul Berner to approve the minutes as presented.
Motion was unanimous.
3. The proposed FY 2003-2004 LPAWA budget was presented by Debra Feazelle.
Ms. Feazelle answered questions from the Board. Motion by Robert Herrera,
second by Paul Berner to approve the budget as presented. Motion was
unammous.
4. General Manager Debra Feazelle discussed the request from the last meeting to
examine the feasibility of refinancing outstanding bonds. She explained that the
interest savings would not pay the issuing costs. She did note that should the
Authority issue bonds for new projects, the fixed issuing costs could be spread to
refinancing existing bonds.
Ms. Feazelle discussed the upcoming City of Houston Project to update the
Southeast Water Purification Plant. The estimated cost to the Authority is
approximately $800,000. Staff has suggested to Houston that the funding of this
Project be delayed until actual bids are received. Current time line for receiving
bids is spring of 2004, with award for summer 2004. Because of the uncertainty
of the final cost, and timing of the bid award by Houston, the Authority will not
budget this expense, but will consider a budget adjustment at that time. Funding
is available in the Authority's Capital Reserve Fund ($500,000) and retained
earnings. Robert Herrera suggested that staff inform customer cities of the
upcoming expense, and advise them that rates may be adjusted to recover this
expense. Ms. Feazelle will include this information in the letter transmitting the
Authority's budget to the member cities.
Finally, Ms. Feazelle reported that, at the request of the Board at the last meeting,
city staff is meeting quarterly to ensure that costs billed to customer cities is the
same as the cost billed by Houston to the Authority.
5. There being no further business, the meeting adjourned at 6:57 PM.
PASSED AND APPROVED
ON THIS DAY
,200.