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HomeMy WebLinkAbout09-08-2010 Administration Committee MinutesMINUTES OF THE REGULAR MEETING OF THE ADMINISTRATION COMMITTEE Orange County Sanitation District Wednesday, September 8, 2010, at 5:30P.M. A regular meeting of the Administration Committee of the Orange County Sanitation District was held on September 8, 2010, at 5:30 p.m., in the Sanitation District's Administrative Office. Following the Pledge of Allegiance, a quorum was declared present, as follows: DIRECTORS PRESENT: Phil Luebben, Chair John Anderson Denis Bilodeau Doug Davert Cathy Green Janet Nguyen Brad Reese Christina Shea Sal Tinajero Mark Waldman Larry Crandall, Board Chair Troy Edgar, Board Vice Chair DIRECTORS ABSENT: John Withers, Vice Chair PUBLIC COMMENTS There were no public comments. STAFF PRESENT: Jim Ruth, General Manager Bob Ghirelli, Assistant General Manager Lorenzo Tyner, Director of Finance and Administrative Services Donna Terrones, Clerk of the Board Lilia Kovac, Committee Secretary Jeff Reed, Human Resources Manager Mike White, Controller Laura Maravilla Juanita Skillman Rich Spencer OTHERS PRESENT: Julie Meggers Darius llgunas Ed Soong FILED IN T HE OFF ICE OF THE CLERK OF THE BOARD ORAN GE CO! INTY SANI TATION DISTR ICT SEP 2 2 20 10 BY'-~ REPORT OF THE COMMITTEE CHAIR The Committee Chair did not give a report. REPORT OF THE GENERAL MANAGER Jim Ruth, General Manager and Bob Ghirelli, Assistant General Manager, briefly discussed the current reorganization of the District. Minutes of the Administration Committee September 8, 2010 Page 2 of 3 REPORT OF DIRECTOR OF FINANCE AND ADMINISTRATIVE SERVICES Lorenzo Tyner, Director of Finance and Administration, discussed the 201 0 2nd Quarter Investment Management Program and introduced employees from PIMCO who presented the Investment Policy/Portfolio to the Committee. The Committee requested staff prepare a 5-year look back at the value of the District's investment portfolio and to bring it back at a future date for discussion. CONSENT CALENDAR ITEMS 1. MOVED, SECONDED, AND DULY CARRIED: Approve minutes of the July 14, 2010, meeting of the Administration Committee. ACTION ITEMS 2. MOVED, SECONDED, AND DULY CARRIED: Recommend to the Board of Directors to Authorize the General Manager to issue Revenue Refunding Certificate Anticipation Notes, Series 201 OB, as one-year fixed-rate obligations, in an amount not to exceed $167.0 million to replace the $165.9 million Refunding Certificate Anticipation Notes, Series 2009B maturing on December 1, 2010. 3. MOVED, SECONDED, AND DULY CARRIED: Recommend to the Board of Directors to Authorize the General Manager to issue up to $157 million in new fixed-rate Certificates of Participation (COP) debt, in one or more series. 4. MOVED, SECONDED, AND DULY CARRIED: Recommend to the Board of Directors to Adopt Resolution No. OCSD 10 -15, Declaration of Official Intent to reimburse certain of the District's Capital Reserve Funds for expenditures made in advance for Fiscal Year 201 0-11 Capital Improvement Projects from proceeds of a future long-term financing. INFORMATIONAL ITEMS None Minutes of the Administration Committee September 8, 2010 Page 3 of 3 CLOSED SESSION CONVENE IN CLOSED SESSION PURSUANT TO GOVERNMENT CODE SECTION 54954.5(f) The Administration Committee convened in closed session at 6:00p.m. to discuss two matters. Confidential Minutes of the Closed Session held by the Administration Committee have been prepared in accordance with Government Code Section 54954.5(f), and are maintained by the Clerk of the Board in the Official Book of Confidential Minutes of Board and Committee Closed Meetings. The Administration Committee reconvened at 6:39 p.m. in regular session. OTHER BUSINESS, COMMUNICATIONS OR SUPPLEMENTAL AGENDA ITEMS, IF ANY There were none. ADJOURNMENT AND FUTURE MEETING DATES The Chair declared the meeting adjourned at 6:40 p.m . The next regular Administration Committee meeting is scheduled for October 13, 2010, at 5:30 p.m. Submitted by: