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.
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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.