HomeMy WebLinkAboutMinutes - Municipal Property Corporation Board - 2/6/1996 A
MINUTES
ORO VALLEY MUNICIPAL PROPERTY CORPORATION
MEETING
FEBRUARY 6, 1996
TOWN COUNCIL CHAMBERS
11,000 N. LA CANADA DRIVE
CALL TO ORDER: 3:30 P.M.
PRESENT: Wendell Cheek, President
Leslie Olson, Treasurer
Frank Butrico, Secretary
STAFF PRESENT: Tobin Sidles, Town Attorney
Chuck Sweet, Town Manager
David Andrews, Finance Director
RESOLUTION NO.(R)MPC96-01 -AUTHORIZING THE EXECUTION AND DELIVERY
OF A LEASE OF A DOMESTIC WATER SYSTEM WITH AN OPTION TO PURCHASE,
A TRUST INDENTURE,AN ASSET PURCHASE AGREEMENT BETWEEN THE TOWN
OF ORO VALLEY MUNICIPAL PROPERTY CORPORATION AND THE CANADA
HILLS WATER COMPANY LIMITED PARTNERSHIP AND A CONTINUING
DISCLOSURE AGREEMENT;AUTHORIZING THE PREPARATION AND APPROVAL
OF PRELIMINARY AND FINAL OFFICIAL STATEMENTS; APPROVING THE
ISSUANCE OF NOT TO EXCEED $16,500,000 TOWN OF ORO VALLEY MUNICIPAL
PROPERTY CORPORATION MUNICIPAL WATER SYSTEM BONDS, SERIES 1996,
EVIDENCING A PROPORTIONATE INTEREST OF THE OWNERS THEREOF IN THE
LEASE BETWEEN THE TOWN OF ORO VALLEY, ARIZONA, AND TOWN OF ORO
VALLEY MUNICIPAL PROPERTY CORPORATION, TO BE ASSIGNED TO A
TRUSTEE; AUTHORIZING THE TAKING OF ALL OTHER ACTIONS NECESSARY
TO THE CONSUMMATION OF THE TRANSACTIONS CONTEMPLATED BY THIS
RESOLUTION; DELEGATING CERTAIN DUTIES; AND DECLARING AN
EMERGENCY
Town Clerk Kathryn Cuvelier read the caption to Resolution No. (R)MPC96-0l for the record.
Scott Ruby, Bond Attorney, with Gust Rosenfeld explained the purpose of the resolution.
Mark Rieder, Financial Advisory with Peacock, Hislop, Staley & Given reviewed the financing
time schedule.
Treasurer Leslie Olson MOVED to APPROVE Resolution No. (R)MPC96-0 1. MOTION
SECONDED by Secretary Frank Butrico. MOTION UNANIMOUSLY carried 3 - 0.
ADJOURNMENT
Meeting adjourned at 4:15 p.m.
Respectfully submitted,
Kathryn Cuvelier, CMC
Town Clerk