HomeMy WebLinkAboutMunicipal Property Corporation - Resolutions (18) 1
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
Vetrano MOVED to approve the minutes of the February 28, 2007 MPC meeting, as
Tom pp
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,
A.;, APPROVING THE FORM AND AUTHORIZING THE EXECUTION OF
N.
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
CONTRACT WITH RESPECT TO THE SERIES 2007 BONDS; SETTING
03/14/07 Minutes,Oro Valley Municipal Property Corporation
2
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
The Board reviewed and deliberated the materials distributed by the Bond Underwriters
and Bond Attorneys.
MOTION: Tom Vetrano MOVED to adopt Resolution MPC No. 07-01. MOTION
seconded by Kent Russell. MOTION carried 2 - 0.
ADJOURNMENT
MOTION was made byTom Vetrano to adjourn the special meeting at 3:00 p.m.
A
MOTION seconded by Kent Russell. MOTION carried 2—0.
Prepared by:
6x,eczezi;
thryn E. Cuvelier, CMC
Town Clerk