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HomeMy WebLinkAboutMinutes 1970-06-23DISTRICT NO.7 MINUTES OF THE ADJOURNED REGULAR ~ETING June 23;1970 -~:3O p.m 108114 Ellis Avenue Fountain Valley,California Pursuant to adjournment of the regular meeting held June 10, 1970,the Board of Directors of County Sanitation District No.7, of Orange County,California,met in an adjourned regular meeting at the above hour and date. The Chairman called the meeting to order at ~:3O p.m.The roll was called arid the Secretary reported a quorum present for each District’s Board. Directors absent:None 0TITE~PRESENT: Appointment of Secretary pro tern Paul G.Brown,Norman Tremblay, C.Arthur Nisson,Conrad Hohener, John Vande P01,and J.Wayne Sylvester,Secretary pro tern Moved,seconded and duly carried: That J.Wayne Sylvester be appointed Secretary pro tern. Report of Financing Consultants re:Proposed General Ob1i~ation Bond Sale It was then moved,seconded and duly carried: That the staff be directed to apply for a revised rating from the firms of Standard and Poors and Moody’s Investment Services, Inc.,arid thatpayment for said services be authorized for a total amount not to exceed ~2,OOO. _______________________________ That the Board of Directors adopt Resolution No.7O-1O6-7~ providing for the issuance and sale of bonds in the principal amount of $3.5 million and fixing the date of sale thereof. Certified copy of this resolution is attached hereto and made a part of these minutes. -- DISTRICT NO.7 Directors present:Clifton C.Miller (Chairman), Lorin Griset,Ellis N.Porter, Howard Rogers,Don E.Smith, and Wrn.Hirstein _______________________________ Mr.John Vande P01 of Bartle _____— Wells Associates reported on -the current state of the bond market in:connection with the proposed 3.5 million dollar General Obligation Bond Sale and advised that the District apply for a re-rating from the principal bond rating firms to provide the most favorable rating possible for said bond issue. Providing for the issuance and sale of General Obligation Bonds and fixing the date of iile of said bonds Moved,seconded and duly carried: Adjournment Moved,seconded and duly carried: I That this meeting of the Board of Directors of County Sanitation District No.7 be adjourned.The Chairman declared the meeting ~so adjourned at 5:20 p.m.,June 23,1970. ATTEST: Se~e~iry,Board of Directors County Sanitation District No.7 -2- Chairman,Board of Directors County Sanitation District No.7 Action approving Official Action on adoption of Statement for the ~3.5 Rescilution No.70-108—7, million bond sale deferred approving the Official State ment to be sent to prospective bidders on the $3.5 million General Obligation Bond sale was deferred until completion of said statement by Bartle Wells and Associates. Establishing date of July l~4-th for hearing on Ordinance No.712 It was moved,seconded and duly carried: That July 1~th,at ~:00 p.m.be established as the date and hour for hearing on adoption of Ordinance No.712 for increasing District connection charges. A brief discussion followed regarding the basic accomodation agreements between Distriót No.7 and the cities of Orange, Santa Ana and Tustin,and the Costa Mesa Sanitary District, relative to connection charges and the disposition -of funds collected thereunder.