HomeMy WebLinkAbout2003-12-11 - Public Financing Corporation Meeting MinutesITEM NO. 1
"DRAFT" MINUTES OF THE
YORBA LINDA WATER DISTRICT
PUBLIC FINANCING CORPORATION
BOARD OF DIRECTORS ANNUAL MEETING
December 11, 2003
8:30 A.M.
APPROVED BY THE BOARD OF DIRECTORS
OF THE YDRBA LINDA WATER DISTRICT
DEC 03
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The December 11, 2003 meeting of the Yorba Linda Water District Public Financing
Corporation Board of Directors was called to order by President John W. Summerfield at
11:11 a.m. The meeting was held at the Richfield Plant, 913 South Richfield Road,
Placentia.
Directors Present at Roll Call
John W. Summerfield, President
William R. Mills, Vice President
Paul R. Armstrong
Michael J. Beverage
Arthur C. Korn
CONSENT CALENDAR
Staff Present:
William J. Robertson, General Manager
Arthur G. Kidman, District General Counsel
Beverly Meza, Business Manager
Michael Payne, Assistant General Manager
Michael Robinson, Assistant Administrator
Amelia Cloonan, Administrative Secretary
On a motion by Vice President Mills, seconded by Director Korn, the Board of Directors
voted 5-0 to approve the Consent Calendar.
Receive and file the minutes of the regular meeting held August 7, 2003.
2. Authorize the officers to leave the State of California prior to next meeting.
3. Conflict of Interest Policy for the Yorba Linda Water District Public Financing
Corporation. This item will be presented at the Meeting of December 23, 2003.
General Counsel Kidman stated the Board does need to prepare a conflict of interest
policy to be adopted by the corporation.
Director Armstrong asked where the funds come from to pay for the bonds if the property
tax revenues are not received. William Robertson, General Manager, responded the
revenues of the District have been encumbered to pay for the bonds.
ACTION CALENDAR
4. Appoint Officers for the Yorba Linda Water District Public Finance Corporation.
William J. Robertson, General Manager, presented the report.
On a motion by Director Beverage, seconded by Director Korn, the Board of
Directors voted 5-0 to appoint the Water District officers to their same position with
the Financing Corporation.
BOARD MEMBER COMMENTS/ITEMS FOR FUTURE CONSIDERATION
There were no comments.
ADJOURNMENT
On a motion by Director Korn, seconded by Director Summerfield, the Board of
Directors voted 5-0 to adjourn at 11:22 a.m.
The next regular meeting of the Board of Directors of the Public Financing Corporation
will be held on Thursday, December 23, 2003 at the District Headquarters immediately
following the Yorba Linda Water District Board of Directors meeting.