Keokuk Municipal 
       Waterworks
                Est. 1938


 

 Keokuk    Municipal    Waterworks
                         Board    of     Trustees
                             Meeting    Minutes



                                                                   

KEOKUK MUNICIPAL WATERWORKS

          SUMMARY OF BOARD PROCEEDINGS

DECEMBER 19, 2018


Present:            Chairman Hausch, Trustees Boyd, Bogner, Hickey and Long.


Chairman Hausch opened the regular meeting. A motion was made by Trustee Long and Seconded by Trustee Boyd, the minutes from the previous meetings of November 20th and December 11, 2018, shall be approved as presented. Motion Carried.


Accounts payable vouchers were reviewed and approved.


Mr. Maddox presented the Board with monthly charts and informed the Board of the work being done around the Plant.


Mr. Haney presented the Board with monthly charts. Mr. Haney discussed with the Board that Shoemaker-Haaland was awarded the design bid for the Cramer, Fulton and Plank Water Main Replacement Project.


Ms. Barnes discussed monthly financials, budget, operating expenses, and water sales to date. Sarah Beckman with CPA Associates, presented the audit for FYE June 2018. After some discussion the following resolution was adopted, RES, 1039, the Board hereby authorizes that the audit for Fiscal year ending June 30, 2018, be approved as presented. Motion made by trustee Hickey and seconded by Trustee Bogner. Motion Carried.


Ms. Rogers shared with the Board the need to set a date for a public hearing on a proposal to issue Waterworks system utility revenue bonds. After some discussion the following resolution was adopted, RES. 1040,

Resolution to fix a date for a public hearing on a proposal to issue waterworks system utility revenue bonds thereunder in a principal amount not to exceed $6,900,000.


 Thereunder in a principal amount not to exceed $6,900,000.


WHEREAS, the City of Keokuk (the “City”), in Lee County, State of Iowa, did heretofore establish the Keokuk Municipal Waterworks (the “Waterworks Utility”) of the City and for which the Waterworks Utility has continuously supplied water and water service in and to the City and its inhabitants since its establishment; and


WHEREAS, the management and control of the Waterworks Utility are vested in the Board of Trustees (the “Board”) of the Waterworks Utility; and


WHEREAS, the Waterworks Utility now proposes to issue indebtedness in a principal amount not to exceed $6,900,000 pursuant to the provisions of Chapter 384 of the Code of Iowa, 2017, as amended, for the purposes of: (i) paying the cost, to that extent, of constructing water improvements and extensions to the municipal waterworks system of the Water Utility, (ii) funding a debt service reserve fund, and (iii) paying for costs related to the issuance of the revenue bonds in a principal amount not to exceed $6,900,000 (collectively the “Project”); and


WHEREAS, it is necessary to fix a date of meeting of the Board at which it is proposed to take action to issue the revenue bonds, payable from the net revenues of the Waterworks Utility, and to give notice thereof as required by such law;


NOW, THEREFORE, be it resolved by the Board of the Waterworks Utility as follows:


Section 1.         This Board shall meet on January 16, 2019, at the Waterworks Utility Offices, 20 N 4th Street, Keokuk, Iowa, 52632 at 2:30 o’clock p.m., at which time and place a hearing will be held and proceedings will be instituted and action necessary to issue revenue bonds.

Section 2.         The Board Secretary is hereby directed to give notice of the proposed action setting forth the amount and purpose thereof, the time when and place where the said meeting will be held by publication at least once, not less than four (4) and not more than twenty (20) days before the meeting, in a legal newspaper which has a general circulation in the City.  The notice shall be in substantially the following form:


NOTICE OF PROPOSED ACTION TO INSTITUTE
PROCEEDINGS TO ISSUE KEOKUK WATERWORKS UTILITY REVENUE BONDS

IN A PRINCIPAL AMOUNT NOT TO EXCEED $6,900,000

(WATER REVENUE)

The Board of Trustees (the “Board”) of Keokuk Municipal Waterworks (the “Waterworks Utility”) will meet on January 16, 2019, at the Waterworks Utility Offices, 20 N 4th Street, Keokuk, Iowa, 52632 at 2:30 o’clock p.m., to consider the issuance of Waterworks Utility Revenue Bonds the proceeds of which will be used for the purposes of: (i) paying the cost, to that extent, of constructing water improvements and extensions to the municipal waterworks system of the Waterworks Utility, (ii) funding a debt service reserve fund, and (iii) paying for costs related to the issuance of the revenue bonds in a principal amount not to exceed $6,900,000 (collectively the “Project”).

The revenue bonds will not constitute a general obligation of the City of Keokuk, Iowa (the “City”), nor will the revenue bonds be payable in any manner by taxation but, together with any additional obligations as may be hereafter issued and outstanding from time to time ranking on a parity therewith, will be payable solely and only from the net revenues of the Waterworks Utility.


At that time and place, oral or written objections may be filed or made to the proposal to issue the revenue bonds.  After receiving objections, the Board may determine to issue the revenue bonds, in which case, the decision will be final unless appealed to the District Court within fifteen (15) days thereafter.


By order of the Board of the Waterworks Utility.


Section 3.         Pursuant to Section 1.150-2 of the Income Tax Regulations (the “Regulations”) of the Internal Revenue Service, the Board declares (a) that it intends to undertake the Project which is reasonably estimated to cost approximately $6,900,000, (b) that other than (i) expenditures to be paid or reimbursed from sources other than the issuance of bonds, notes or other obligations (the “Bonds”), or (ii) expenditures made no earlier than 60 days prior to the date of this Resolution or a previous intent resolution of the Board, or (iii) expenditures amounting to the lesser of $100,000 or 5% of the proceeds of the Bonds, or (iv) expenditures constituting preliminary expenditures as defined in Section 1.150-2(f)(2) of the Regulations, no expenditures for the Project have heretofore been made by the Board and no expenditures will be made by the Board until after the date of this Resolution or a prior intent resolution of the Board, and (c) that the Board reasonably expects to reimburse the expenditures made for costs of the Board out of the proceeds of the Bonds.  This declaration is a declaration of official intent adopted pursuant to Section 1.150-2 of the Regulations.

Section 4.         All resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of such conflict.

Section 5.         This resolution shall be in full force and effect immediately upon its adoption and approval, as provided by law. A motion was made by Trustee Hickey and Seconded by Trustee Long. Motion Carried.


Ms. Rogers explained to the Board the need to set a public hearing date for the Plant Ultrafiltration Membrane Skid 4, 7 & 8 Project. With some discussion the following resolution was adopted, RES. 1041, as follows:


That January 16, 2019 at 2:30 P.M., is hereby set as a public hearing date for the Plant Ultrafiltration Membrane Skid 4, 7 & 8 Project for the Keokuk Municipal Waterworks, at the Keokuk Municipal Waterworks Office at said time and date;


BE IT FURTHER RESOLVED that notice of said hearing shall be published at least once in the Daily Gate City, a newspaper of general publication within the City of Keokuk, not less than four (4) and not more than twenty (20) days before the date of said hearing.


A motion was made by Trustee Boyd and Seconded by Trustee Bogner. Motion Carried


Ms. Rogers shared with the Board, the proposal from Shoemaker-Haaland, for the design bid for Cramer, Fulton and Plank Water Main Replacement Design. After some discussion the following resolution was adopted, RES. 1042, the Board hereby accepts the proposal from Shoemaker Holland for the lump sum amount of $42,570.00 and time and materials contract not to exceed for $33,680.00, for the design of Cramer, Fulton and Plank Water Main Replacement Design, to be approved as presented. A motion was made by Trustee Long and Seconded by Trustee Boyd. Trustee Hickey abstained. Motion Carried.


Ms. Rogers shared with the Board that there were no safety incidents to report for the month of November. She also talked about Capital Improvement.


There being no further business to come before the Board of Trustees, the meeting was adjourned, and the next regular meeting of the Board of Trustees is set for January 16, 2019, at 2:30 P.M. at the Waterworks office.


ATTEST:  ____________________________              _________________________________

                  Andrea Rogers, PE, Secretary                      Mike Hausch, Chairman



                                                                   

Past Board Meeting Minutes:


December 19, Board Summary 2018.pdf


November 20 Board Summary 2018.pdf


October 24, Board Summary 2018.pdf


September 27 Board Summary 2018.pdf


August 23 Board Summary 2018.pdf


July Board Summary 2018.pdf


June 28 Board Summary 2018.pdf


May 30 Board summary 2018.pdf


May 24 Board Summary 2018.pdf


April Board Summary 2018.pdf


March Board Summary 2018.pdf


February Board Summary 2018.pdf


January 25 Board Summary 2018.pdf


December Board Summaty 2017.pdf


If additional Summary dates are necessary, please call the Waterworks office at 319-524-5285.

Managed By: Keokuk Municipal 

Waterworks

20 N. 4th St. P.O. Box 10

Keokuk, IA 

52632

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