Miami Special Utility Authority (MSUA)

📅 Jun 4, 2019 | Clip #215

⚠️ 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

Open official source

📝 AI Transcript

[00:01] The Lord, the regular meeting of the MIME discussion utility authority for days, day and time,

[00:07] out of two its invocation.

[00:08] That pastor of Southern meals, that Mr. Chairman, Mr. Chairman, thanks for being here.

[00:12] Appreciate that.

[00:15] That's pretty good.

[00:17] Our father and God, we have so grateful Lord to look out and see blue skies and sunshine.

[00:21] We're so grateful for those who work so hard tirelessly, Lord, to make sure that our families

[00:26] are homes were saved.

[00:27] And provided for us now that God, you would bring volunteers to help with the clean up God

[00:32] that you would bless and watch over.

[00:34] This meeting now is we make decisions, gives wisdom, and guidance and insight and Lord

[00:38] make us a city of promise for them.

[00:40] We pray that in Jesus Christ's precious and holy name.

[00:43] Amen.

[00:44] Thank you.

[00:45] Doug, would you like to play?

[00:46] I pledge allegiance to the flag of the United States of America and to the Republic for which

[00:52] stands one nation under God, in the middle of the liberty and justice for all.

[00:59] Good.

[01:00] I report the presentation of the NSW Lecture Systems of Oklahoma, Dr. Gregg,

[01:05] Grant's Customer Service Award to you, customer service supervisor, Heather Thayley.

[01:10] How are you?

[01:11] Thank you.

[01:12] Thank you very much.

[01:13] Good evening.

[01:14] I'm Tom Reiner on the General Manager for the Municipal Lecture Systems of Oklahoma.

[01:18] Soon to be the Oklahoma Municipal Alliance.

[01:20] I'll let Taylor and Tyler's on the board to go through all that if you're wondering

[01:25] about it.

[01:26] With that thought, it is my distinct pleasure to come up here to recognize Heather.

[01:29] Heather was nominated by Jill Pisskin to put the Dr. Gregg Prize Award

[01:33] to Dr. Gregg Prize Award named after an individual Gregg Prize.

[01:36] Who served 30 years as the Director of Customer Service for the Oklahoma Municipal

[01:41] Public Authority and before that, a city manager for creating a black web.

[01:46] And Rick was well known for helping out any city, any time where there are

[01:50] a member city or not.

[01:51] And so the visa award came in and nominated this award after him.

[01:56] And Heather was nominated because of her outstanding customer service and the way she treats people.

[02:02] Jill Stath and I'm going to quote this because I want to make sure I get it right.

[02:05] She's rated two auditions between co-workers and customers.

[02:09] So it's aways pleasant and courteous, no matter the situation.

[02:12] And it's with that understanding that I learned just a little while ago

[02:15] the fact that because of her operations, the way they do things,

[02:19] you have many fewer visits to the city manager for customer service tensions.

[02:23] And so I'd come in.

[02:25] And I'm being surprised to have that but at the same time that she says,

[02:28] you're a great deal about the way Heather runs her staff, the way she manages down there

[02:32] and the people that she has worked in for her.

[02:34] So I would like to ask her.

[02:36] Oh, there you are.

[02:37] Thank you.

[02:38] You know, there are those of us who are paranoid.

[02:41] So with that, though, I would like to present to you the Drake price.

[02:45] That's for service.

[02:46] Thank you.

[02:47] Thank you.

[02:59] Nambe.

[03:00] for the Council, Heather, the well deserved.

[03:02] Thank you very much.

[03:03] And thank you, Mr. Wright, if we're coming up tonight.

[03:05] Absolutely.

[03:09] Item five is public input on scheduled personal

[03:11] appearances, and you want the audience at which it should

[03:13] address the utility authority on any of the agenda items.

[03:19] Being non-ide up 60 consent agenda staff is recommending item

[03:22] 7 through 10.

[03:24] You place on the approved on the consent agenda.

[03:29] Take a quick look at those, and if there are no questions or concerns,

[03:32] if you're going to take the most of your clues, you can send it

[03:34] into as recommended.

[03:38] A big motion to approve.

[03:39] And a second, please.

[03:41] Sorry.

[03:42] Roll call.

[03:43] Question four, sir.

[03:45] Aye.

[03:46] Work it.

[03:46] Aye.

[03:47] Solve.

[03:48] Aye.

[03:49] Item 11.

[03:50] Whoo.

[03:51] It's just so long.

[03:53] I don't read the whole thing.

[03:54] We've got four up and then make up the whole page.

[03:59] Basically discussing taking action on a resolution to file

[04:03] applications with the LWRB for financing and financial assistance

[04:07] for the loan program with the proceeds, being for the purpose of

[04:11] refinancing certain outstanding indebtedness.

[04:13] Tyler, you want to elaborate on that or make it a little clearer.

[04:17] So we, if you don't mind, we'll just start by all three of them at one time.

[04:19] So the 11, 12 and 13.

[04:21] Yes, we're in the show.

[04:22] The first agenda item is four that the loan application to whatever you

[04:25] need to appoint a lot of resources for it, and also for a

[04:27] professional services for us to approve the engagement letter with

[04:31] public finance law group, which they're here tonight.

[04:33] They will be our bond council for this, as we're

[04:36] divided by open all our resources for it.

[04:38] So they, they do many, many of these do have more resources

[04:42] for it.

[04:43] So I think they actually said around 80% of the loan

[04:46] resources for it.

[04:47] OK.

[04:48] So just to kind of talk about the three programs, we're going to do.

[04:50] So we talked about these a few weeks ago, but just to go over them.

[04:53] So the first thing we're doing is called the FAPLum, the

[04:56] financial assistance program loan.

[04:58] So currently we have two FAPLum's outstanding

[05:01] with the Water Resources Board at three concepts in the

[05:03] interest rate.

[05:04] These loans also have required a debt service for our debt

[05:08] coverage for us to have an annual reserve within.

[05:10] So with the new FAPL program, with the new FAPLum that we will do,

[05:14] we're going to unlock that debt service that we have setting aside.

[05:18] So with us, I'm walking that money.

[05:20] We will use that on central development project, which is just

[05:23] generated.

[05:24] It's kind of just kicked off this last week.

[05:26] So that'll pay for that.

[05:28] We also, that interest rate on those two FAPs are at 3.7% right now.

[05:33] I know in the packet, I put 2.091, I'm going to just ask them what the rate was.

[05:39] This week, you know, is it a date, and they tell me it's 1.8%.

[05:43] Now, is that locked in yet, or is that just what's available this week?

[05:47] That's what it was.

[05:48] So that's that of two weeks ago, and the power of order is underwriter estimated

[05:52] we're about six weeks from the price of that.

[05:57] So the second one is the DWSRF, or the drinking one.

[06:00] we've all been thrown. So this is just like the name to the drinking water. So I've

[06:03] been drinking water projects. So we talked about these. This is just the different

[06:10] products around town. Currently we estimated our on-armorization schedule will be 2.37

[06:15] percent. It's actually a little better right now at that. But once we lock that in which

[06:21] we're hoping to close on them in August, if we've grouped in on it, we'll do that. The last

[06:26] one I'm excited to say. The second one is that a new loan. Yes, there's no reason to

[06:32] answer it. It's a totally new loan. And then the last one is the CWSRF, which is the clean

[06:38] water state revolving fund. So this is for your sewer, your sanitary sewer, and also

[06:43] for storm sewer. So like in Main Street, when we finally get it out to allow us to bid that

[06:48] out. We're going to use some of the funds for that. We're going to do some work up there

[06:52] in the industrial parking, putting the sewer out there to our near expansion. Those are the

[06:56] projects. I'm excited to stay on this one. We talked to the point where we should work

[07:01] today. And if this is rooftop night, then we are locked in at 2.01% interest, so which is pretty

[07:06] well for 20 years. It's fixed rates. Okay. So we're a quick clarification because we were

[07:15] talking about new debt. And do keep in mind that our rates are structured in such a way to

[07:20] accommodate this debt. So this is a long term long range plan. Exactly. So like Dean

[07:28] said, you know, with this has all been with the rates that we deal with well and all this

[07:31] units into the debt coverage, the debt service that he has. I would also like to point out the

[07:38] 2.0 that we were at 2.01. Is the second lowest that we've ever had? I've broken the record twice, but

[07:47] you can't close. Sorry. I had to read that. I'm happy to answer any questions. And like I said,

[07:57] we have a, I can introduce them now. We have a NAOS. And at your Davidson, I'm the answer if you

[08:03] have any questions. It didn't very helpful on the process. And all three of these, well, the one is a

[08:10] refinance with some benefits besides the lower rate and freeing up some capital for other projects. The

[08:17] other two are for projects that were anticipated and budgeted and in the long range planning we did with

[08:26] the bill. Yes, sir. And then the thing also to consider on these is these are just like construction

[08:31] on them. So you just start paying on them as you spend the money. So. So when we were working on those plans,

[08:38] we had some anticipated rate increases based on anticipated interest rates, etc. We would be able to scale

[08:46] back on any of those rate increases or you got a chance to get that for. I mean, this is just, we, you guys

[08:53] have a pass right now. We'll pay for like our, is what's going to pay for this these long right now.

[08:57] So I mean in the future, we could look at the nature.

[09:00] if they stay low, you know, maybe not having.

[09:03] Or another option that might be not scaling back on the rates,

[09:06] but you might remember we had multiple rates

[09:08] increases for multiple bond issues in the culture.

[09:12] So more than likely what it would mean

[09:14] is that any future increases might be able to be lower

[09:18] because of these better rates that we have.

[09:23] Any other questions for Tyler or Dean?

[09:28] Bandouini, take these one at a time.

[09:30] I know Tyler covered all three of them,

[09:31] but I assume we need to.

[09:32] Yes, we do.

[09:33] And just in the interest of full disclosure,

[09:37] I need to point out that 40 some years ago,

[09:41] I used to work for the predecessor of this law firm,

[09:45] which these guys weren't even born yet.

[09:47] I don't think.

[09:51] And you'll have to, and they became wildly successful.

[09:53] That's not a good idea.

[09:55] OK, so we need a motion to approve the resolution

[10:04] on item number 11, which is agreeing to file the applications

[10:07] with the ORB for financing.

[10:11] And I'm assuming filing the applications the same thing

[10:15] is, I mean, we're applying for, and if we're approved,

[10:18] because that need to come back before this body again,

[10:20] or we just roll forward from that.

[10:22] Yes, the application gets the law of work

[10:25] for them to consider below, kind of,

[10:27] combining a lot of steps here in just a time.

[10:31] The next three items are the formal approvals

[10:33] of temperature of three individual levels.

[10:36] OK, so do we have most of you approve item 11?

[10:39] And a second?

[10:40] Second.

[10:40] roll call, please.

[10:41] Or could?

[10:42] Western, orster?

[10:44] Should.

[10:45] Item 12 was considered to take the action of respect

[10:47] to resolution for the Miami Special Utility Authority,

[10:51] approving authorizing the clean water SRF loan

[10:54] from the Oklahoma Water Resources Board.

[10:57] And total aggregate principle amount not to exceed 4,450,000.

[11:02] And do we have a motion to approve item 12?

[11:05] Submit.

[11:07] Second, roll call, please.

[11:09] Orster?

[11:10] Western.

[11:11] Orster?

[11:12] OK.

[11:12] Should.

[11:13] OK.

[11:13] Item 13 considered to take the action of respect

[11:15] to resolution of the Miami Special Utility Authority

[11:18] authorizing a loan from the ORB in the total aggregate

[11:21] principle amount not to exceed 2,000,000,000,

[11:25] approving the issuance of series 2019 B Promissory Note

[11:29] to the ORB.

[11:30] Do we have a motion to approve item 13?

[11:34] I'll make that motion.

[11:35] Do we have a second?

[11:36] Second.

[11:36] roll call, please.

[11:38] Should.

[11:39] Western, orster?

[11:41] Orster?

[11:42] Yes.

[11:43] Last item, different Tyler, because you said,

[11:45] tour, you said.

[11:46] So the first one was the application and application

[11:49] but the second one was the clean water, which is the Sanitary

[11:54] Souver.

[11:55] The item 13 was the FAB, which we talked about,

[11:58] and then item 14.

[12:00] is the drinking water.

[12:02] So we've already talked about it.

[12:04] Yes, we've already talked about it.

[12:06] So do we have most of your approved item,

[12:08] 14, which is take action with respect to a resolution

[12:12] by the MSUA, approving and authorizing the drinking water

[12:16] SRF loan in the total aggregate principle amount,

[12:20] not exceed 2,785,000,

[12:22] and approving the issuance of the promissory note.

[12:26] And I'll second that roll call please.

[12:28] All right.

[12:29] All right.

[12:30] All right.

[12:31] All right.

[12:32] Thank you.

[12:33] Thank you gentlemen.

[12:34] Item 15 is new business.

[12:36] Any new business, anyone?

[12:37] Item 16 is trustee.

[12:40] Community announcements.

[12:41] Any announcements?

[12:43] Item 16 is a German.

[12:45] We have most to adjourn.

[12:47] I'm in the second place.

[12:49] Second.

[12:50] Roll call.

[12:51] All right.

[12:52] Work it.

📄 Full Agenda

NOTICE OF REGULAR MEETING AND AGENDA
OF THE MIAMI SPECIAL UTILITY AUTHORITY (MSUA)
Tuesday, June 4, 2019
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 Southern Hills Baptist Church Herb Young
3.
Pledge of Allegiance Trustee Weston
4.
Presentation of Municipal Electric Systems of Oklahoma Drake Rice Customer Service Award to Customer Service Supervisor Heather Bailey Tom Rider
Drake Rice Nomination Form
Information
5.
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
6.
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. Staff recommends that Item 7 through Item 10 be placed on the consent agenda.
7.
Approve Claims: $268,259.58 Trustees
Claims
Tornado Claims
8.
Approve Minutes: May 21, 2019 (Regular) Trustees
Minutes May 21, 2019
9.
Budget Amendment: Mike Addington
#19-86B MSUA - Solid Waste (Moving Funds from Solid Waste to Capitol Improvement for Loader Bucket)
10.
Approve Fiscal Year 2019-2020 Budget in Accordance With State Statute Title 60 O.S. Sec 176G Trustees
MSUA Budget Summary 19-20
11.
Consider and Take Action With Respect to a Resolution Agreeing to File Applications With the Oklahoma Water Resources Board (the "OWRB") for Financing Through (i) the Financial Assistance Loan Program, With the Loan Proceeds Being for the Purpose of Refinancing Certain Outstanding Indebtedness With the OWRB and Financing Certain Water and Wastewater System Improvements, (ii) the Clean Water State Revolving Fund Loan Program, With Loan Proceeds Being for the Purpose of Financing Certain Wastewater System Improvements, and (iii) the Drinking Water State Revolving Fund Loan Program, With Loan Proceeds Being for the Purpose of Financing Certain Water System Improvements; Approving Professional Services Agreements; and Containing Other Provisions Related Thereto (Oklahoma Water Resources Board Loan Application and Professional Services Engagement) Tyler Cline
BA
Debt Schedule
Loan Application
Engagement Letter
Litigation Letter
Resolution
12.
Consider and Take Action With Respect to a Resolution of The Miami Special Utility Authority (the "Borrower") Approving and Authorizing a Clean Water SRF Loan From the Oklahoma Water Resources Board in the Total Aggregate Principal Amount of Not to exceed $4,450,000; Approving the Issuance of a Promissory Note in the Total Aggregate Principal Amount of Not to Exceed $4,450,000, Secured by a Pledge of Revenues and Authorizing its Execution; Approving and Authorizing the Execution of a Loan Agreement For Clean Water SRF Loan; Designating a Local Trustee and Approving and Authorizing the Execution of a Trust Agreement; Approving and Authorizing the Execution of a Security Agreement; Ratifying and Confirming a Lease Agreement; Approving Various Covenants; Approving and Authorizing Payment of Fees and Expenses; and Containing Other Provisions Relating Thereto (Clean Water State Revolving Fund Loan for Sanitary Sewer and Storm Sewer Projects) Tyler Cline
BA
Resolution
13.
Consider and Take Action With Respect to a Resolution of The Miami Special Utility Authority (the "Borrower") Authorizing a Loan From the Oklahoma Water Resources Board in the Total Aggregate Principal Amount of Not to Exceed $2,050,000; Approving the Issuance of a Series 2019B Promissory Note to Oklahoma Water Resources Board in the Total Aggregate Principal Amount of Not to Exceed $2,050,000, Secured by a Pledge of Revenues and Authorizing its Execution; Designating a Local Trustee; Approving and Authorizing the Execution of a Trust Agreement; Approving and Authorizing the Execution of a Loan Agreement; Approving and Authorizing the Execution of a Security Agreement; Ratifying and Confirming a Lease Agreement; Approving and Authorizing a Note Purchase Agreement; Approving Various Covenants; Approving and Authorizing Payment of Fees and Expenses; and Containing Other Provisions Relating Thereto (Financial Assistance Loan Program for Central Avenue Project) Tyler Cline
BA
Resolution
14.
Consider and Take Action With Respect to a Resolution of The Miami Special Utility Authority (the "Borrower") Approving and Authorizing a Drinking Water SRF Loan From the Oklahoma Water Resources Board in the Total Aggregate Principal Amount of Not to Exceed $2,785,000; Approving the Issuance of a Promissory Note in the Total Aggregate Principal Amount of Not to Exceed $2,785,000, Secured by a Pledge of Revenues and Authorizing Its Execution; Approving and Authorizing the Execution of a Loan Agreement For Drinking Water SRF Loan; Designating a Local Trustee and Approving and Authorizing the Execution of a Trust Agreement; Approving and Authorizing the Execution of a Security Agreement; Ratifying and Confirming a Lease Agreement; Approving Various Covenants; Approving and Authorizing Payment of Fees and Expenses; and Containing Other Provisions Relating Thereto (Drinking Water State Revolving Fund Loan for Drinking Water Projects) Tyler Cline
BA
Resolution
15.
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
16.
Trustee Community Announcements Trustees
17.
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.