HomeMy WebLinkAbout1987-02-05 - Board of Directors Meeting Minutespate-2-±70 0
February 5, 1987
The adjourned regular meeting of the Board of Directors of the Yorba
Linda Water District was called to order by President Cromwell at 4:37
P.M.in the District offices at 4622 Plumosa, Yorba Linda. Directors
present: Paul R. Armstrong, Whit Cromwell, Sterling Fox, M. Roy
Knauft, Jr., William R. Mills, Jr. Also present: Ralph C. Shook
general manager, William J. Robertson executive assistant to the
general manager, Juanita Harris office manager, Stan Wolcott legal
counsel from Rutan & Tucker, Hermann Zelles of Bank of American.
Motion by Director Knauft and seconded by Director Fox to approve the
consent calendar as follows: Approval of the minutes as submitted of
the meeting of January 22, 1987 and authorization for the Directors to
leave the State of California prior to the next meeting. Motion
carried unanimously.
Mr. Zelles and Mr. Wolcott reviewed the refinancing of ID 2 Series B
Bonds, the Official Statement and the current Bond prices. Discussion
followed.
Motion by Director Knauft and seconded by Director Fox to adopt
Resolution No. 87-03 entitled: RESOLUTION OF THE BOARD OF DIRECTORS OF
YORBA LINDA WATER DISTRICT PROVIDING FOR THE ISSUANCE OF
$11,915,000.00 PRINCIPAL AMOUNT OF YORBA LINDA WATER DISTRICT
IMPROVEMENT DISTRICT NO. 2 1987 REFUNDING BONDS, FOR THE BENEFIT OF
IMPROVEMENT DISTRICT NO. 2 OF YORBA LINDA COUNTY WATER DISTRICT;
PRESCRIBING THE FORM AND TERMS OF SAID BONDS; PROVIDING THE FORM AND
TERMS OF SAID BONDS; PROVIDING FOR THE LEVY OF A TAX TO PAY THE
PRINCIPAL AND INTEREST THEREOF; APPROVING THE FORMS OF ESCROW
AGREEMENT AND OFFICIAL STATEMENT; AND OTHER MATTERS RELATING THERETO.
Roll call vote: Ayes: Directors Paul Armstrong, Sterling Fox, M. Roy
Knauft, Jr., William R. Mills, Jr., Whit Cromwell. Noes: None.
Abstain: None. Absent: None. Passed and adopted this 5th day of
February, 1987.
Motion by Director Knauft and seconded by Director Armstrong to adopt
Resolution No. 87-04 entitled: RESOLUTION SELLING $11,915,000
PRINCIPAL AMOUNT OF YORBA LINDA WATER DISTRICT IMPROVEMENT DISTRICT
NO. 2 1987 REFUNDING BONDS. Roll call vote: Ayes: Directors Paul
Armstrong, Sterling Fox, M. Roy Knauft, Jr., William R. Mills, Jr.,
Whit Cromwell. Noes: None. Abstain: None. Absent: None. Passed and
adopted this 5th day of February, 1987.
Communications from the City of Yorba Linda and the State of
California office of the Treasurer received and filed.
Motion by Director Armstrong and seconded by Director Mills to
adjourn. Motion carried unanimously.
Meeting adjourned at 4:52 P.M.
Ralph C. hook
Secretary