Miami Special Utility Authority (MSUA)
⚠️ DISCREPANCIES
⚠️ Discrepancies & Missing Documents (2)
⚠️ No Official Minutes Published
The city has not published official minutes for this meeting. Under Oklahoma Open Meeting Act (25 O.S. § 308), minutes of all public meetings must be kept and made available.
🟡 City Has Not Published Minutes
Our transcript is complete but the city has not published official minutes on AgendaCenter. This may indicate a delay or failure to comply with open records requirements.
📹 Meeting Video
📝 AI Transcript
[03:00] Item 4 is public input and unscheduled personal appearances in the audience, which is to address the special utility authority on any of the agenda items.
[03:11] There are being nine item five as a consent agenda staff is recommending item six and seven, which are claims and minutes for the consent agenda.
[03:19] If there are no questions on those items, I'll entertain a motion to approve.
[03:23] And a second.
[03:24] Say roll call.
[03:26] Item 8 is consider and adopt the resolution authorizing the sale issuance and delivery of certificates of indebtedness.
[03:37] With the authority to provide funds for capital improvements authorizing sale.
[03:42] The discount and waving the credit of bidding.
[03:45] They're on Greg Mito.
[03:47] Hey Greg.
[03:48] We want to come up and if you and Dean want to tag team on this.
[03:53] Well, as you know, our wild and financial.
[03:56] Study and the new.
[03:59] Ordin are the new rates that we've had for our electric rates indicated that we would have a fairly substantial bond issue primarily for.
[04:08] Two of our substations rebuilding those and also some work in our electrical utilities.
[04:14] In fact, the next item will be talking about some work in one of our substations.
[04:18] So as we have our agreement with Greg Greg has come up with alternatives related to.
[04:24] The issuance of about eight million dollars in debt that was identified by the world and that we have the capacity to do.
[04:31] And we do have a recommendation for you and I'll let Greg go ahead and cover that.
[04:36] I'd like to just bring you up.
[04:45] Jill just passed out some information.
[04:47] We did some studies and back into the numbers.
[04:50] It looked at eight million dollar bond issue, which apparently will meet your days for the electric improvements.
[04:55] And that will net you approximately $7,680,000 dollars.
[04:59] You can see on that one sheet.
[05:01] What that does, it allows us to take care of what the rate increases.
[05:06] But your average debt service is about $675,000 dollars per year.
[05:11] And one thing to keep in mind, this is based on today's interest rates.
[05:16] As you all know what has happened, the interest rates are the last several months.
[05:20] We want to look at this and try to work together when you want to actually go into debt.
[05:25] And then when you want to start making payments, but also lock it in the rate, it's an extra-diciously possible.
[05:31] What this resolution authorizes is not to exceed figures.
[05:35] We will issue the $8 million in the net.
[05:38] Even though the resolution says more than that, we will still issue the $8 million.
[05:42] It also has a state interest rate.
[05:44] That's not to exceed figures.
[05:46] But you can see we're well.
[05:47] We feel right now we're well below that.
[05:49] It should be 23 and 4% on the average rate.
[05:53] It will be a fixed rate.
[05:55] But also on the cost of this market, things can change so dramatically.
📄 Full Agenda
NOTICE OF REGULAR MEETING AND AGENDA
OF THE MIAMI SPECIAL UTILITY AUTHORITY (MSUA)
Tuesday, April 3, 2018
5:30
p.m.
MIAMI CIVIC CENTER
129 5th Avenue Northwest, Miami, Oklahoma
Filed in the Office of the City Clerk and displayed in the main lobby of the Miami Civic Center and by
posting on www.miamiokla.net.
THE MSUA MAY DISCUSS, CONSIDER, AND VOTE ON ANY ITEM LISTED IN THIS AGENDA:
1.
Call to Order Chairman Schultz
2.
Invocation by Pastor of the New Life Nazarene Church C. Hollingsworth
3.
Pledge of Allegiance Trustee Lewis
4.
Public Input and Unscheduled Personal Appearances
Each person will be limited to three minutes. The purpose of this agenda item is to provide an opportunity for citizens’ comments and public announcements. In keeping with the principals of the Oklahoma Open Meeting Act, Council [or commission, authority or board] members and city staff will not engage in discussion or take any action under this agenda item. If you seek discussion or further inquiry, please contact your Council Member, the Mayor or the office of the city manager. Responses to citizen comments, if any, will occur under an applicable Agenda item at this or a future public meeting, or a response may be given by a phone call, personal meeting or a posting on the city website:
www.miamiokla.net
5.
CONSENT AGENDA Trustees
By unanimous consent the public body may designate noncontroversial items to be considered in one motion and one vote. The public body may add items from the regular agenda and approve. Posted agenda items not added to the consent docket will be considered separately in their regular order. Staff recommends that Item 6 through Item 7 be placed on the consent agenda.
6.
Approve Claims: $361,835.60 Trustees
Claims List
Credit Cards
7.
Approve Minutes: March 20, 2018 (Regular) Trustees
Minutes March 20, 2018 (Regular)
8.
Consider and Adopt a Resolution Authorizing the Sale, Issuance and Delivery of Certificates of Indebtedness of the Authority to Provide Funds for Capital Improvements of the Authority; Authorizing Sale Thereof at a Discount; and Waiving Competitive Bidding Thereon Greg Nieto
Bond Resolution
9.
Olsson and Associates Master Agreement Work Order 17/18-9 Design of Substation #1 or Operations Center Substation Tyler Cline
BA
Work Order
Design
PPT
10.
Other New Business, if any, Which has Arisen Since the Posting of the Agenda and Could not Have Been Anticipated Prior to the Time of Posting (25 O.S. § 311(9)) Trustees
11.
Staff Reports (Written report included in packet, if available staff is present for questions) Trustees
12.
Trustee Community Announcements Trustees
13.
Adjournment Trustees
The MSUA Board of Trustees for the City of Miami is committed to making this meeting accessible to all citizens. If special assistance or accommodations are required, please submit your request to the City Manager's office. We also ask that those in attendance place all electronic devices on silent. Thank you.
OF THE MIAMI SPECIAL UTILITY AUTHORITY (MSUA)
Tuesday, April 3, 2018
5:30
p.m.
MIAMI CIVIC CENTER
129 5th Avenue Northwest, Miami, Oklahoma
Filed in the Office of the City Clerk and displayed in the main lobby of the Miami Civic Center and by
posting on www.miamiokla.net.
THE MSUA MAY DISCUSS, CONSIDER, AND VOTE ON ANY ITEM LISTED IN THIS AGENDA:
1.
Call to Order Chairman Schultz
2.
Invocation by Pastor of the New Life Nazarene Church C. Hollingsworth
3.
Pledge of Allegiance Trustee Lewis
4.
Public Input and Unscheduled Personal Appearances
Each person will be limited to three minutes. The purpose of this agenda item is to provide an opportunity for citizens’ comments and public announcements. In keeping with the principals of the Oklahoma Open Meeting Act, Council [or commission, authority or board] members and city staff will not engage in discussion or take any action under this agenda item. If you seek discussion or further inquiry, please contact your Council Member, the Mayor or the office of the city manager. Responses to citizen comments, if any, will occur under an applicable Agenda item at this or a future public meeting, or a response may be given by a phone call, personal meeting or a posting on the city website:
www.miamiokla.net
5.
CONSENT AGENDA Trustees
By unanimous consent the public body may designate noncontroversial items to be considered in one motion and one vote. The public body may add items from the regular agenda and approve. Posted agenda items not added to the consent docket will be considered separately in their regular order. Staff recommends that Item 6 through Item 7 be placed on the consent agenda.
6.
Approve Claims: $361,835.60 Trustees
Claims List
Credit Cards
7.
Approve Minutes: March 20, 2018 (Regular) Trustees
Minutes March 20, 2018 (Regular)
8.
Consider and Adopt a Resolution Authorizing the Sale, Issuance and Delivery of Certificates of Indebtedness of the Authority to Provide Funds for Capital Improvements of the Authority; Authorizing Sale Thereof at a Discount; and Waiving Competitive Bidding Thereon Greg Nieto
Bond Resolution
9.
Olsson and Associates Master Agreement Work Order 17/18-9 Design of Substation #1 or Operations Center Substation Tyler Cline
BA
Work Order
Design
PPT
10.
Other New Business, if any, Which has Arisen Since the Posting of the Agenda and Could not Have Been Anticipated Prior to the Time of Posting (25 O.S. § 311(9)) Trustees
11.
Staff Reports (Written report included in packet, if available staff is present for questions) Trustees
12.
Trustee Community Announcements Trustees
13.
Adjournment Trustees
The MSUA Board of Trustees for the City of Miami is committed to making this meeting accessible to all citizens. If special assistance or accommodations are required, please submit your request to the City Manager's office. We also ask that those in attendance place all electronic devices on silent. Thank you.