HomeMy WebLinkAbout2014-09-03 - Board of Directors Meeting Agenda PacketYorba Linda
Hater District
AGENDA
YORBA LINDA WATER DISTRICT
BOARD OF DIRECTORS SPECIAL MEETING
Wednesday, September 3, 2014, 8:30 AM
1717 E Miraloma Ave, Placentia CA 92870
1. CALL TO ORDER
2. PLEDGE OF ALLEGIANCE
Robert R. Kiley, President
Ric Collett, Vice President
Michael J. Beverage
Phil Hawkins
Gary T. Melton
3. PUBLIC COMMENTS
Any individual wishing to address the Board is requested to identify themselves and state the matter on which
they wish to comment. If the matter is on the agenda, the Board will recognize the individual for their comment
when the item is considered. No action will be taken on matters not listed on the agenda. Comments are limited
to matters of public interest and matters within the jurisdiction of the Water District. Comments are limited to five
minutes.
4. SPECIAL RECOGNITION
4.1. Introduction of Marc Marcantonio, General Manager
5. ACTION CALENDAR
This portion of the agenda is for items where staff presentations and Board discussions are needed prior to
formal Board action.
5.1. Appointment of Corporate Officer
Recommendation. That the Board of Directors appoint Marc Marcantonio, General
Manager, as Secretary for the District.
5.2. Authorized Officers for Investments Held at Pershing
Recommendation. That the Board of Directors adopt Resolution No. 14 -12
Authorizing the General Manager and Finance Manager to Act on Behalf of the
District Relating to District Investments Held at Pershing LLC and Rescinding
Resolution No. 14 -09.
6. ADJOURNMENT
6.1. The next Regular Board of Directors Meeting will be held Thursday, September 11, 2014
at 8:30 a.m.
Items Distributed to the Board Less Than 72 Hours Prior to the Meeting
Pursuant to Government Code section 54957.5, non - exempt public records that relate to open session agenda items
and are distributed to a majority of the Board less than seventy -two (72) hours prior to the meeting will be available for
public inspection in the lobby of the District's business office located at 1717 E. Miraloma Avenue, Placentia, CA 92870,
during regular business hours. When practical, these public records will also be made available on the District's internet
website accessible at http: / /www.ylwd.com /.
Accommodations for the Disabled
Any person may make a request for a disability - related modification or accommodation needed for that person to be
able to participate in the public meeting by telephoning the Executive Secretary at 714 - 701 -3020, or writing to Yorba
Linda Water District, P.O. Box 309, Yorba Linda, CA 92885 -0309. Requests must specify the nature of the disability and
the type of accommodation requested. A telephone number or other contact information should be included so the
District staff may discuss appropriate arrangements. Persons requesting a disability - related accommodation should
make the request with adequate time before the meeting for the District to provide the requested accommodation.
ITEM NO. 5.1
AGENDA REPORT
Meeting Date: September 3, 2014
To: Board of Directors
Prepared By: Annie Alexander, Executive
Secretary
Subject: Appointment of Corporate Officer
STAFF RECOMMENDATION:
That the Board of Directors appoint Marc Marcantonio, General Manager, as Secretary for the
District.
DISCUSSION:
Pursuant to the Board of Directors Rules for Organization and Procedure (Resolution No. 11 -15),
the Municipal Corporation Officers of Secretary, Assistant Secretary and Treasurer are appointed by
majority vote of the Board. In addition, the officers of the District also serve as the officers of the
Public Financing Corporation. Historically, the individual currently employed as the General
Manager has served as the Secretary for the District and the Corporation. With the recent
appointment of Marc Marcantonio as General Manager, a new Secretary needs to be appointed for
the District.
Duties of the Secretary, or the Assistant Secretary in the absence of the Secretary include:
• Attesting all ordinances and resolutions approved and adopted by the Board.
• Countersigning all contract documents approved and adopted by the Board.
• Preparing the minutes of each meeting held by the Board.
• Performing all duties set forth in the County Water Districts Law (Water Code, § 30000 et
seq.), the Rules for Organization and Procedure, and as imposed by the Board.
There is no additional compensation for serving as Secretary if the individual is an employee of the
District.
Approved by the Board of Directors of the
Yorba Linda Water District
9/3/2014
MB /RC 5 -0
AGENDA REPORT
Meeting Date: September 3, 2014
To: Board of Directors
ITEM NO. 5.2
Presented By: Delia Lugo, Finance Manager Dept: Finance
Prepared By: Annie Alexander, Executive
Secretary
Subject: Authorized Officers for Investments Held at Pershing
STAFF RECOMMENDATION:
That the Board of Directors adopt Resolution No. 14 -12 Authorizing the General Manager and
Finance Manager to Act on Behalf of the District Relating to District Investments Held at Pershing
LLC and Rescinding Resolution No. 14 -09.
DISCUSSION:
The District currently has a portion of its reserves invested at Pershing. Due to recent changes in
personnel, a new resolution identifying employees who are authorized to act on behalf of the District
pertaining to investments held at Pershing is required.
YLWD's current investment policy adopted in June 2014 authorizes the Treasurer to invest funds of
the District. Staff recommends adding the new General Manager to the resolution as a back -up
should the Treasurer not be available for an extended period of time.
ATTACHMENTS:
Resolution No. 14- 12.doc
Approved by the Board of Directors of the
Yorba Linda Water District
9/3/2014
MB /GM 5 -0 Roll Call
Description:
Resolution
Type:
Resolution
RESOLUTION NO. 14 -12
RESOLUTION OF THE BOARD OF DIRECTORS
OF THE YORBA LINDA WATER DISTRICT
AUTHORIZING THE GENERAL MANAGER AND FINANCE MANAGER TO ACT ON
BEHALF OF THE DISTRICT RELATING TO DISTRICT INVESTMENTS HELD AT
PERSHING LLC AND RESCINDING RESOLUTION NO. 14 -09
WHEREAS, in July 2012, District staff completed the process of vetting Matthew
D'Avanzo, Senior Vice - President - Fixed Income Strategies at First Empire
Securities (First Empire) as a broker /dealer; and
WHEREAS, First Empire has an agreement with Pershing LLC (Pershing) where the
District can choose to have investments purchased through First Empire
be held at Pershing; and
WHEREAS, First Empire requires that a resolution be adopted authorizing people to
act on behalf of the District relating to District investments held at
Pershing; and
WHEREAS, the District's current investment policy adopted June 2014 authorizes the
District's Treasurer to invest funds of the District and the Board of
Directors desires to add the General Manager as a back -up should the
Treasurer not be available for an extended period of time.
NOW, THEREFORE, the Board of Directors of the Yorba Linda Water District does
hereby find, determine, and resolve the following:
Section 1. Resolution No. 14 -09 is hereby rescinded.
Section 2. Andrew "Marc" P. Marcantonio, General Manager, and
Delia D. Lugo, Finance Manager,
each of whom holds the office indicated, is authorized to act on behalf of the Yorba
Linda Water District to buy, sell, assign, loan, borrow, endorse for transfer, transfer and
receive stocks, bonds, securities, money and other assets now or hereafter registered in
the name of or held for Yorba Linda Water District at Pershing LLC.
Resolution No. 14 -12 Authorized Officers for Investments Held at Pershing
PASSED AND ADOPTED this 3rd day of September 2014 by the following called vote:
AYES:
NOES:
ABSTAIN:
ABSENT:
Robert R. Kiley, President
Yorba Linda Water District
ATTEST:
Annie Alexander, Assistant Board Secretary
Yorba Linda Water District
Resolution No. 14 -12 Authorized Officers for Investments Held at Pershing