HomeMy WebLinkAboutMinutes - Municipal Property Corporation Board - 10/2/2002 MINUTES OF THE
ORO VALLEY MUNICIPAL PROPERTY CORPORATION
ANNUAL MEETING
HOPI ROOM
DEVELOPMENT SERVICES BUILDING
11,000 N. LA CANADA DRIVE
OCTOBER 2, 2002
CALL TO ORDER: 5:05 p.m.
PRESENT: Steve Lucas, Chairman
Tom Vetrano, Treasurer
Bob Horn, Secretary
APPROVAL OF OCTOBER 2, 2001 MINUTES
Bob Horn MOVED to approve the minutes of the October 2, 2001 meeting, as corrected.
MOTION SECONDED by Tom Vetrano. MOTION carried 3 —0.
ELECTION OF OFFICERS
A MOTION was made by Tom Vetrano to appoint Steve Lucas as the Chairman to the
MPC. MOTION SECONDED by Bob Horn. MOTION carried 3 —0.
A MOTION was made by Steve Lucas to appoint Bob Horn as the Secretary to the MPC.
MOTION SECONDED by Tom Vetrano. MOTION carried 3 —0.
A MOTION was made by Steve Lucas to appoint Tom Vetrano as the Treasurer to the
MPC. MOTION SECONDED by Bob Horn. MOTION carried 3 —0.
DISCUSSION RELATED TO STATUS OF EXISTING PROJECTS AND
POTENTIAL FUTURE PROJECTS
Water Utility Project Manager David Ruiz reviewed the status of the Water Utility
Projects financed with MPC Bonds:
• June 1999, $4.9 million in bonds were sold to pay off liens placed on homes in
1992 and to finance water system improvements for the former Oro Valley Water
Improvement District No. 1.
• March 2001, $5.4 million in bonds were issued to finance improvements to the
existing potable water system.
• Fall of 2003, the utility will need to issue bonds to finance the construction of its
reclaimed water distribution system. Estimated costs to construct are $13 million.
This system will consist of approximately 58,300 linear feet of main in varying
sizes, 2 pump stations, numerous pressure reducing stations and metering stations,
and a one million gallon reservoir. The design contract will be awarded in
10/02/02 Minutes,Oro Valley Municipal Property Corporation 2
October 2002. Design is anticipated to be complete by September 2003 and
construction could be completed as early as June 2005.
ADJOURNMENT
It was announced that the next meeting of the MPC will be held the first week of
October 2003.
A MOTION was made by Bob Horn and SECONDED by Tom Vetrano to adjourn the
annual meeting at 5:38 p.m. Motion carried 3 —0.
Respectfully submitted,
Kat yn Cuvelier, CMC
Town Clerk