HomeMy WebLinkAbout2015-08-25 - Board of Directors Meeting Minutes 2015-1,42
MINUTES OF THE
YORBA LINDA WATER DISTRICT
BOARD OF DIRECTORS SPECIAL MEETING
Tuesday, August 25, 2015, 3:00 p.m.
1717 E Miraloma Ave, Placentia CA 92870
1. CALL TO ORDER
The August 25, 2015 Yorba Linda Water District Board of Directors Special
Meeting was called to order by President Collett at 3:01 p.m. The meeting was
held in the Board/Training Room at the District's Administration Building located
at 1717 East Miraloma Avenue in Placentia, California 92870.
2, PLEDGE OF ALLEGIANCE
President Collett led the pledge.
3. ROLL CALL
DIRECTORS PRESENT STAFF PRESENT
Ric Collett, President Marc Marcantonio, General Manager
Michael J. Beverage, Vice President Steve Conklin, Engineering Manager
Phil Hawkins John DeCriscio, Operations Manager
Robert R. Kiley Delia Lugo, Finance Manager
Gina Knight, Human Resources / Risk Manager
DIRECTORS ABSENT Art Vega, Information Technology Manager
Gary T. Melton Damon Micalizzi, Public Information Manager
Annie Alexander, Executive Secretary
Cindy Botts, Water Conservation Supervisor
OTHER ATTENDEES
Eddy Beltran, Esq., Partner, Kidman Law LLP
Brett Barbre, Director, MWDSC and MWDOC
Gene Hernandez, Mayor, City of Yorba Linda
Eddy Jackson, Resident
Rosemarie Sauer, Resident
Julia Schultz, Resident
Josh Lentz, Vice Principal, Fieldman, Rolapp & Associates
Cyrus Torabi, Esq., Shareholder, Stradling Yocca Carlson Rauth
Linda Verstuyft, Vice President, US Bank
Sheri Ball, Vice President, US Bank
Minutes of the YLWD Board of Directors Special Meeting Held August 25,2015 at 3:00 p.m. 1
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4. PUBLIC COMMENTS
Ms. Rosemarie Sauer addressed the Board and commented on the District's
bond covenant.
5. DISCUSSION ITEMS
5.1. Presentation by Representatives from Stradling Yocca, Fieldman Rolapp,
and US Bank Regarding the District's Debt Covenant Requirements
Mrs. Lugo introduced Mr. Josh Lentz, and explained the purpose of the
meeting. Mr. Lentz then introduced Mr. Cyrus Torabi, Ms. Linda Verstuyft,
and Ms. Sheri Ball. Mr. Lentz and Mr. Torabi then provided an overview of
the District's debt portfolio, financial obligations, and the consequences of
non-compliance. Discussion followed.
Mr. Eddy Jackson addressed the Board and commented on the District's
FY 2015/16 budget, the proposed rate increase, and one of his requests
for records.
Ms. Julia Schultz addressed the Board and commented on the
consequences of non-compliance with the District's financial obligations
and the proposed rate increase.
Ms. Sauer addressed the Board and commented on the Proposition 218
hearing process, the consequences of non-compliance with the District's
financial obligations, and the potential refinancing of the District's bonds.
Mr. Torabi commented regarding the remedies available to the bond
holders should the proposed rate increase not go through.
At the request of President Collett, Mr. Eddy Beltran provided an overview
of the Proposition 218 hearing process including the tabulation/validation
of protests.
6. ADJOURNMENT
6.1. The meeting was adjourned at 3:59 p.m. The next Regular Board of
Directors Meeting will be held Monday, August 31, 2015 at 8:30 a.m.
Annie Alexander
Assistant Board Secretary
Minutes of the YLWD Board of Directors Special Meeting Held August 25,2015 at 3:00 p.m. 2