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
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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