HomeMy WebLinkAbout1978-08-03 - Board of Directors Meeting MinutesAugust 3, 1978 1444
The adjourned meeting of the Board of Directors of the Yorba Linda
County Water District was called to order by President Knauft at
8:35 a.m. in the offices of the District on Plumosa Drive. Directors
present and answering the roll call: Roy Knauft, Howard Lindow, Fred
Clodt, Art Korn and Whit Cromwell. Also present Ralph Shook, gen-
eral manager, Jean Mathews secretary, Bob Seamans from James
Montgomery, Chuck Hobbs consultant, Richard Davalos Project manager,
Rodger Howell and Art Kidman attorneys and Merwin Wagner former
Board member.
President Knauft asked the Board to go over the Board and Manager
Concerns list while they were waiting for the arrival of Stone
and Youngberg. Waste water discussed and the need to notify and
point out to people that we still need to conserve.
Ray Fors of Stone and Youngberg arrived at 8:45 a.m.
Mr. Kidman asked the Board to review Resolution 78-47. Discussion.
Moved by Director Cromwell seconded by Director Clodt to adopt
RESOLUTION NO. 78-47 entitled RESOLUTION OF THE BOARD OF DIRECTORS
OF YORBA LINDA COUNTY WATER DISTRICT PROVIDING FOR THE ISSUANCE OF
$27,320,000 MAXIMUM PRINCIPAL AMOUNT OF YORBA LINDA COUNTY WATER
DISTRICT IMPROVEMENT DISTRICT NO. I 1978 WATER BONDS, FOR THE
BENEFIT OF IMPROVEMENT DISTRICT NO. I OF YORBA LINDA COUNTY WATER
DISTRICT: PROVIDING FOR THE ISSUANCE OF SAID BONDS IN SERIES PRE-
SCRIBING THE FORM AND TERMS OF SAID BONDS: AND PROVIDING FOR THE
LEVY OF A TAX TO PAY THE PRINCIPAL AND INTEREST THEREOF. Discussion.
Roll call vote: Ayes: Directors Knauft, Lindow, Clodt, Korn and
Cromwell. Noes: Directors, none. Absent: Directors, none. Abstain:
Director , none. Passed and adopted this 3rd day of August 1978.
Resolution No. 78-48 discussed; Roy Knauft asked the attorney Art
Kidman if it made any difference if he had stock in the three banks
named in the resolution as paying agents for the District.
Attorney Kidman's opinion was that Mr. Knauft's holdings were not
large enough in comparison with the size of the banks in question
and that his holdings would not conflict with this resolution and
that Mr. Knauft did not have to abstain from voting.
Moved by Director Lindow seconded by Director Korn to adopt RES-
OLUTION NO. 78-48 entitled: FIRST SUPPLEMENTAL RESOLUTION AUTH-
ORIZING THE ISSUANCE OF $2,345,000 PRINCIPAL AMOUNT OF YORBA LINDA
COUNTY WATER DISTRICT IMPROVEMENT DISTRICT NO. I 1978 WATER BONDS,
SERIES A: AND AUTHORIZING AND DIRECTING THE SALE OF SAID BONDS AND
APPROVING FORM OF OFFICIAL STATEMENT. Discussion.
Roll call vote: Ayes; Directors Knauft, Lindow, Clodt, Korn and
Cromwell. Noes: Directors, none. Absent: Directors, none.Abstain:
Directors none. Passed and adopted this 3rd day of August 1978.
Ray Fors said the sale of the bonds would be three weeks from today.
1445
August 3, 1978 (continued)
Mr. Fores also asked the Board of Directors what they thought of
a tour of the facilities and the Eastern area for prospective
bond buyers. Bring them from Los Angeles by bus and then after
the tour have dinner and return. Discussion. Moved by Director
Korn seconded by Director Cromwell to authorize the staff to
invite the financial community for a tour of the facilities in
Improvement District No. 1 for a cost not to exceed $500.00.
Motion carried with three voting for and two voting against(Clodt
and Knauft).
Meeting adjourned at 9:45 a.m. on a motion by Director Lindow
seconded by Director Korn, carried unanimously.
Jean E. Mathews, Secretary