Miami Special Utility Authority (MSUA) - Special Meeting
⚠️ DISCREPANCIES
⚠️ Discrepancies & Missing Documents (2)
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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.
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📹 Meeting Video
📝 AI Transcript
[00:00] We're called order today special meeting of the Miami Special Utility Authority.
[00:09] Item two is invocation by the retired past of the first Christian Church Leon Wies.
[00:16] Thanks for being here, Leon.
[00:19] Father, thank you for all town.
[00:21] For these people who are willing to work for us,
[00:26] please give them energy, wisdom, help them in the moments when people get super critical.
[00:32] Help them keep going.
[00:34] Father, I just ask that you bless not only them, but our community.
[00:38] And bestest meeting tonight.
[00:40] Jesus name I pray, amen.
[00:42] Amen.
[00:43] Amen.
[00:44] Amen.
[00:45] I pledge allegiance to the flag of the United States of America.
[00:50] To the Republic for which it stands.
[00:53] Amen.
[00:54] Amen.
[00:55] Amen.
[00:56] Amen.
[00:57] Amen.
[00:58] Amen.
[00:59] Thank you.
[01:00] Thank you.
[01:01] Okay.
[01:02] Item three is public input and unscheduled personal appearances.
[01:05] Anyone who audits it wishes to address the authority on any of the agenda.
[01:09] There are being none.
[01:13] Item five is the consent agenda.
[01:15] Staff has recommended item six and seven, which are claims in the minutes for the consent agenda.
[01:20] If there are no questions or the entertainment motion.
[01:22] Question three.
[01:23] And a second.
[01:24] Second.
[01:25] We'll call please.
[01:26] Johnson.
[01:27] All right.
[01:28] Forster.
[01:29] Hi.
[01:30] Question.
[01:31] All right.
[01:32] Lewis.
[01:33] Hi.
[01:34] Shult.
[01:35] All right.
[01:36] Thank you.
[01:37] Up there on bond purchases.
[01:38] Dean Scott.
[01:39] Your name next.
[01:40] Well, it has my name on it.
[01:41] But I'm going to ask Chris Byron about bond attorney to come up and talk about the closing results.
[01:43] We've been out.
[01:44] We're formally closing my think September 8.
[01:46] But we've assigned all the documentation.
[01:48] I thought we'd give you an idea about how we did.
[01:50] And that's why Dean here has been out of the mayor.
[01:53] I kind of like this right now.
[01:55] He designed multiple documents multiple times.
[02:00] Thank you for the audience.
[02:02] And I just want to report when we initially talked to you all a couple of months ago and talked about consolidating
[02:10] the 2010 and 2013 bond issues.
[02:16] We were originally projecting roughly around a 3.8% interest rate.
[02:24] We closed and you all are locked in, a permanent financing at a 3.147%.
[02:35] And that lowers your payments roughly around $150,000 a year.
[02:41] That money can be put aside.
[02:44] Because two things, if you reach hit a,
[02:47] God forbid, I'll downfall in your sales tax collections.
[02:52] That gives you a buffer.
[02:54] And if things say the same, they'll get better.
[02:57] That money can be set aside.
[03:00] and pay the bonds off that could be paid off beginning and ten years.
[03:05] I would like to commend first of all, because it was funny.
[03:12] We had a conference meeting with Standard and Poors.
[03:17] And then we had a follow-up call and they said,
[03:23] the analyst said, wow, they want a tie, shit, a ship over there.
[03:28] I don't slip, they did not do it.
[03:31] You basically do it.
[03:33] Sorry about that one.
[03:38] But now he was very, I mean, he was very complimentary about the way you all run your affairs here.
[03:48] Then second of all, I'd like to compliment the staff that was involved on that conference call.
[03:57] It went smooth.
[03:59] That was your little lens.
[04:01] Yes.
[04:02] You all have an A rating and what's his considered stable.
[04:08] And we will close on September 8th.
[04:14] And I don't know, may I know my leading sometimes?
[04:17] I think the other thing I would want to point out is that original street bond was in 3.9%.
[04:23] So not only did we come in lower than the projections,
[04:27] we came in significantly lower than what the original bond was for that.
[04:32] So it's going to be a considerable savings for the taxpayers over the period of time at the life of the bond.
[04:38] And so I feel good about that.
[04:40] I know you do.
[04:42] And again, staff had a lot to do with that because of the thoroughness of their preparation when talking with S&P,
[04:50] which are the underwriters of the bond.
[04:53] And of course, the audits, the clean audits that we've had over the years,
[04:57] a history of those, all of that contributed to that rating that we got.
[05:01] And going forward, we're going to stay that way.
[05:04] And so if there was future bond endeavors, we'll continue to enjoy a good rate.
[05:11] So that's all I would have to say.
[05:13] And thank you Chris.
[05:14] I appreciate it.
[05:15] I think we'll just also thank our bond council and our financial advisors because they read the market just right.
[05:21] It was time to get into it and take care of it.
[05:24] And we've got basically some of the record lowest interests that a municipality can get.
[05:29] So we take good shape there.
[05:31] To do in this point, we want the original going to go to the market quite this soon.
[05:35] We were going to wait a little bit longer.
[05:37] And they kind of recognized it.
[05:40] We were not at a record low.
[05:42] We were we were close to it.
[05:43] And now it's the time to act.
[05:44] And so based on their advice and again, the water staff.
[05:48] For the benefit of the taxpayers, we were able to get it incredibly low rate.
[05:52] So thank you, Chris.
[05:54] Well, thank you all.
[05:55] And a lot of it can be attributed to the Chris the ball we have.
[06:00] if you can't do it, if you can't do it, if you can't do it, if you have lottery number,
[06:07] yes no, but thank you all, and for the questions, I'll be glad that answering
[06:13] thing.
[06:17] safely. Okay, a lot of money and staff reports are in your
[06:21] pranking if you're available and there are present if there's any questions.
[06:24] If there are an animal, the item team is trusted community announcements,
[06:29] any announcements to share.
[06:31] Then item 11 is adjourned. Do we have most to adjourn?
[06:35] Oh, she's adjourned.
[06:36] And second. Second. Well, we'll call.
[06:39] Weston.
[06:41] Aye.
[06:41] West. Aye.
[06:42] Forster.
[06:43] Aye.
[06:43] Johnson.
[06:44] Aye.
[06:45] Shots.
[06:45] Aye.
[06:46] We are now going to move in.
📄 Full Agenda
NOTICE OF REGULAR MEETING AND AGENDA
OF THE MIAMI SPECIAL UTILITY AUTHORITY (MSUA)
Tuesday, August 30, 2016
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 Retired Pastor of First Christian Church Leon Weece
3.
Pledge of Allegiance Trustee Forrester
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
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.
Claims: $824,050.83 as Described on the Attached Claims List Trustees
08302016 Claims
06302016 Credit Cards (total included on Claims list)
7.
Minutes: August 16, 2016 Trustees
08162016 Minutes
8.
Staff Reports (Written report included in packet, if available staff is present for questions) Trustees
Human Resources
9.
Trustee Community Announcements Trustees
10.
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, August 30, 2016
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 Retired Pastor of First Christian Church Leon Weece
3.
Pledge of Allegiance Trustee Forrester
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
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.
Claims: $824,050.83 as Described on the Attached Claims List Trustees
08302016 Claims
06302016 Credit Cards (total included on Claims list)
7.
Minutes: August 16, 2016 Trustees
08162016 Minutes
8.
Staff Reports (Written report included in packet, if available staff is present for questions) Trustees
Human Resources
9.
Trustee Community Announcements Trustees
10.
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.