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HomeMy WebLinkAboutMinutes - Municipal Property Corporation Board - 3/14/2007 (2) MINUTES OF THE ORO VALLEY MUNICIPAL PROPERTY CORPORATION SPECIAL MEETING MARCH 14, 2007, 2:30 P.M. KACHINA CONFERENCE ROOM 11,000 N. LA CANADA DRIVE CALL TO ORDER: 2:30 p.m. PRESENT: C. Kent Russell, President Tom Vetrano, Secretary/Treasurer ALSO PRESENT: Stacey Lemos, Finance Director Kathryn Cuvelier, Town Clerk BY TELEPHONE: Keith Hoskins, Bond Counsel, Gust Rosenfeld Mark Reader, Financial Advisor, Stone & Youngberg Josh Ormiston, Stone & Youngberg APPROVAL OF FEBRUARY 28, 2007 MINUTES Tom Vetrano MOVED to approve the minutes of the February 28, 2007 MPC meeting, as submitted. MOTION SECONDED by Kent Russell. MOTION carried 2 - 0. ELECTION OF BOARD OF DIRECTORS Tom Vetrano nominated Kent Russell as President of the MPC. Nomination seconded by Kent Russell. Kent Russell nominated Tom Vetrano as Secretary/Treasurer of the MPC. Nomination seconded by Tom Vetrano. Kent Russell - President Tom Vetrano - Secretary/Treasurer Motion carried 2 - 0. RESOLUTION MPC NO. 07-01 APPROVING THE FORM OF AND AUTHORIZING THE EXECUTION AND DELIVERY OF THE FOURTH AMENDMENT TO THE LEASE-PURCHASE AGREEMENT AMONG THIS CORPORATION, THE TOWN OF ORO VALLEY AND WELLS FARGO BANK, N.A.; APPROVING THE FORM AND AUTHORIZING THE EXECUTION OF THE FOURTH SUPPLEMENT TO THE INDENTURE BETWEEN THIS CORPORATION AND WELLS FARGO BANK, N.A.; AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $22,000,000 THE TOWN OF ORO VALLEY MUNICIPAL PROPERTY CORPORATION EXCISE TAX REVENUE REFUNDING BONDS, SERIES 2007 BY THIS CORPORATION; APPROVING THE FORM AND AUTHORIZING THE EXECUTION OF A PURCHASE 03/14/07 Minutes, Oro Valley Municipal Property Corporation 2 THE FORM AND AUTHORIZING THE EXECUTION OF A PURCHASE CONTRACT WITH RESPECT TO THE SERIES 2007 BONDS; SETTING CONDITIONS AND PARAMETERS WITH RESPECT TO SUCH SALE; AUTHORIZING THE PREPARATION AND APPROVAL OF PRELIMINARY AND FINAL OFFICIAL STATEMENTS PERTAINING TO THE SERIES 2007 BONDS; AUTHORIZING THE TOWN MANAGER OF THE TOWN OF ORO VALLEY TO DEEM SUCH PRELIMINARY AND FINAL OFFICIAL STATEMENTS "FINAL"; AUTHORIZING THE APPOINTMENT OF A DEPOSITORY TRUSTEE; APPROVING THE FORM AND AUTHORIZING THE EXECUTION OF A DEPOSITORY TRUST AGREEMENT; AUTHORIZING MULTIPLE SERIES OF BONDS; AUTHORIZING THE TAKING OF ALL OTHER ACTIONS NECESSARY TO THE CONSUMMATION OF THE TRANSACTIONS CONTEMPLATED BY THIS RESOLUTION; AND DELEGATING CERTAIN DUTIES MOTION: Tom Vetrano MOVED to adopt Resolution MPC No. 07-01. MOTION seconded by Kent Russell. MOTION carried 2 - 0. ADJOURNMENT A MOTION was made by Tom Vetrano to adjourn the special meeting at 3:00 p.m. MOTION seconded by Kent Russell. MOTION carried 2—0. Prepared by: i r K .thryn E. Cuvelier, CMC Town Clerk