Loading...
HomeMy WebLinkAboutMinutes 1969-06-246-24-69 1 &7 DISTRICTS NOS.1 AND 7 MINUTES OF THE ADJOURNED REGULAR ~ETING June 24,1969 -4:30 p.m lO~1414 Ellis Avenue Fountain Valley,California Pursuant to adjournments of the regular meeting held June 11,1969,the Boards of Directors of County Sanitation Districts Nos.1 and ..,of Orange County,California,met in an adjourned regular meeting at the above hour and date. The Chairman called the meeting to order at 4:30 p.m.The roll was called and the Secretary reported a quorum present for each District’s Board. DISTRICT NO.1 Directors present:Lorin Griset (Chairman), Clifton C.Miller,Ellis N.Porter,and Wm.Hirstein Directors absent:None DISTRICT NO..7 Directors present:Clifton C.Miller (Chairman), Lorin Griset,Ellis N.Porter, Howard Rogers,Don Smith, and Wm.Hirstein Directors absent:None OTHERS PRESENT:Paul G.Brown,Wm.Clarke,Edwin Finster,Milo Keith,John Sigler, Harvey Hunt,Jay Panchal,Walt Howard,and Fred A.Harper,Secretary. DIsTRICT 1 Moved,seconded and duly carried: Awarding farm lease ~o Marshburn Brothers That the Board of Directors adopt Resolution No.69—51—1,awarding farm lease to MARSHEURN BROTHERS,highest bidder at $130 per acre,and authorizing execution of lease.Certified copy of this resolution is attached hereto and made a part of these minutes. DISTRICTS 1 AND 7 In February the two Districts author- Engineering Report on Ized a joint engineering study on the Joint InterceDror Sewer possibility of participation in the can with Irvine Ranch Water struction of an interceptor sewer be District tween the Irvine Ranch Water DIstrict and the two County SanItation Districts. The engineering firm of’Boyle Engineering was employed to make the study.Their report was submitted to the boards at the June 11th meeting,at which time it was taken u.nder submission for study. In today’s meeting,Mr.Edwin Flnster of Boyle Engineering re ported verbally on •the fIve alternative plans presented in the report. Following a lengthy discussion concerning the report,it wa~ moved,seconded ~nd duly carried:That a copy of the report be sent to the Irvine Company for their review and consideration. __________________ The Districts’Director of Finance reviewed for the Directors the ___________________ “Projected Ad Valorem Tax P~nds _________________ Available for Construction Pro jects”, ___________________ for the next five years for Districts _________________ ].and 7. 197711 He stated that it appears that District 1 will have sufficient funds for the proposed constructIon projects of Districts 1 and 7 Without the riced of additional financing such as sale of general obligation bonds. However,additional financing will be required for District 7. It was then moved,seconded and duly carried:That the “Pro posed Schedule of Joint Constructior.and Estimated Expenditures through 1977”and “ProJected Ad Valorem Tax Th~nds Available for Construction Projects”be received and ordered filed. ______________ The Board of Directors reviewed wIth __________________ the staff the updated “Preliminary ___________ Planning Schedule”,which was submitted ---by the District’s engineers,indicating certain actions to be taken to Implement the District’s Master Plan dated May,1969. Following a lengthy discussion,it was moved,seconded and duly carried:That the “Preliminary Planning Schedule”be received and ordered filed. DISTRICT 7 Bartle Wells Proposal re: recommendat~ris for financing Master P]~ái~ ~ac lilt les S~VIC ES Following a review of the Proposal of Bartle Wells AssocIates,Municipal Financing Consultants,dated June 18, 1969,it was moved,seconded and duly carried:That the financing consultants’ proposal be accepted and that the General Manager be authorized to direct the con sultants to proceed with the investigation and preliminary financing report as out lined in the proposal as follows: 1.Investigation We will review and analyze all significant aspects of financing the district’s trunk sewer project.Our review and analysis will include:(a)a review of available informatIon relating to the district proJect,(b)examination of the district’s present and future financing capacity under its enabling act and methods of operatIon,(c)consultation with the district staff,consultants,and others interested in the proJect to develop a fInancial plan:(d)investigation of funds from state and federal sources to assist in the financing of the project,and (e)review of the district?s schedule of expenses and developmenb of alternate sources of revenues to offset project costs. 2.Preliminary FinancIng ReDort We will prepare and submit to the district,inJétter form,a oreliminary report of fIndings based on the review described above.The preliminary report wIll analyze alternate procedures for financing the proposed project and make r~comrnendatlons based on the district’s needs and resources.Methods for raising revenues required to pay project costs will be examined and recommendations made. 3.General Financing Report Following submissIon of the pre. limlnary report,after autThorizatlon to p~’oceed,we will prepare and submIt to the district a general financing report based upon the specific plan recommended by the staff.This report Will present a complete financing plan suitable for use by the Board —2- 6—24-69 l&7 DISTRICTS 1 AND 7 Financial material relating to ‘Pro posed Schedule of Joint Construction and Estimated Ex ~enditures through DISTRICT 7 Consideration of ürdated “Pre— limlnary Flaming Schedule 6—2)~-69 1 &.7 of Directors in deciding district policy and as a basis for elections as necessary,Sources of revenues required to pay project costs will be identified,Policy decisions of the board based upon the preliminary financing report will be incorporated and reflected in the general report.A report draft will be submitted to the Board for review and comments, after which at least 100 copies of the completed report will be furnished the district. ~ 14.,Summary Report Upon approval by the board of the general financing report and adoption of a specific financing plan, we will prepare a short summary report based on the adopted plan,making available at least 200 copies for district use. 5.Sale of Bonds Upon authorization of bonds (or other financing)we will recommend specific terms and conditions for the bonds and assist the district in offering its bonds for sale,in one sale or in several series,through receipt of competitive sealed bids.Our services will include pre paration and publication of an official statement fully des cribing the bonds and their security and mailing this official statement to not less than 500 bond dealers,investors,financial publications,and bond rating services.We will provide additional information as required to the bond rating agencies In order to secure the best possible rating for the bonds.We will contact prospective bidders as appropriate,to provide information and stimulate competitive bidding,We will also provide special news information to financial publications and will provide one advertisement In The Bond Buyer On receipt of sealed bids for purchase of bonds we will analyze and compare the bids and recommend award.We will prepare a schedule of annual interest and principal requirements for district use,based on the actual interest rates bid by the successful purchaser. AVAILABILITY AND FEES 1.We will begin work for the district immediately upon ac ceptance of this proposal.We will be prepared to discuss our preliminary findings and to submit the preliminary report to the board within 75 days after the acceptance of this agree ment.Actual timing of the submittal of reports will be subject to the control of the district. 2.We will be prepared to discuss the final financing plans and to submit the preliminary report to the board within 30 days from the time the Board of Directors adopts a specific plan.The completed general report will be available to the board 30 days after completion of the board’s review of the report draft. 3.We will be avaIlable for consultation throughout the entire development period for the project.We will be available at all reasonable times and on reasonable notice for meetings of the Board of Directors and for consultations with the engineers, staff,and public officials as necessary,We will be available to assist the district in explaining the financing program to its electorate. ~.All of the professional work for the district will be per formed by Bartle Wells Associates,who will assume full re sponsibility for it.We will devote our time and effort directly and intensively to the.needs of the district at the time such work is needed. 5.Our total fee for complete professional financing and bond marketing services Includes: - —3— 6-24-69 •••l&7 a.All expenses necessary for the performance of our services and all overhead,including telephone and travel. b.Printing and mailing of financial and summary reports and the first official statement and statistical information and illustrations purchased for use in such material. The fee does not include legal or engineering services or any printing,publication,special services,or expenses connected with such work and printing and mailing of the second and subsequent official statements. 6.Our fees consist of initial progress payments which are payable as the work proceeds plus further payments based on the principal amount of bonds sold.Percentage fees apply to the total amount of bonds sold,whether in one sale or in several series and are cumulative for each successive sale with a deduction of fees already paid. a.Payable as the work proceeds,an amount based upon our per diem rate of $200 per day but not more than $2,500 prior to submission of the preliminary financing report. b.Payable upon submission of the general financing report, an amount based upon our per diem rate of $200 per day which,including payments under (a)above,is not to exceed $4,000. c.Payable upon sale of bonds:$3,500 plue 1/4 of one per cent of the first $5,000,000 or less of bonds sold, plus 1/10 of one per cent of all over $5,000,000. The minimum fee payable in connection with any one sale of bonds is $7,500. 7.We will provide such additional consulting services as re quested by the district for further specific investigations at our regular per diem rate,payable as the work proceeds. 8.We will not require a formal contract of employment and will consider a letter from an appropriate district official as sufficient authority to proceed.If the district desires a formal contract,we shall be pleased to assist in incorporating the terms of the proposal in such an agreement. DISTRICT 7 Moved,seconded and duly carried: Approval of award of ~ontract re:7-2D-P • That the recommendation of Keith arid to F.T.~Ziebarth by Associates,Districtts Engineers,be Irvine Industrial Complex received arid ordered filed;and, FtJRTK~MOVED:That award of contract for the McGaw Avenue Pump Station,Contract No.7-2D-P,by the Irvine Industrial Complex to the low bidder,F,T.Ziebarth in the amount of $86,500,be approved. DISTRICT 1 Moved,seconded and duly carried: Adjournment That this meeting of the Board of Directors of County Sanitation District No.1 be adjourned. The Chairman declared the meeting so adjourned at 5:32 p.m., June 24,1969. 4 6-24-69 l&7 DISTRICT 7 Moved,seconded and duly carried: ATdjournment That this meeting of the Board of Directors of County Sanitation District No.7 be adjourned. The Chairman declared the meeting so adjourned at 5:32 p.m., June 24,1969. 10. Secretary