MINUTES OF THE DRINKING WATER BOARD MEETING HELD ON JUNE 29, 2009 IN SALT LAKE CITY, UTAH

 

Board Members Present                                   Board Members Excused

Paul Hansen, Chairman                                   Terry Beebe

Ken Bassett, Vice Chairman                            Danny Fleming

Jay Franson                                                     Helen Graber

Betty Naylor                                                    David Stevens

Petra Rust

Amanda Smith                                                 Staff

Ron Thompson                                                Ken Bousfield

                                                                        Ken Wilde

                                                                        Jesse Johnson

                                                                        Linda Matulich

 

ITEM 1 - CALL TO ORDER

 

            The Drinking Water Board convened in Salt Lake City, Utah with Chairman Hansen presiding.  The teleconference meeting was called to order at 3:00 p.m.

 

ITEM 2 - ROLL CALL

 

            Chairman Hansen asked Ken Bousfield to call roll of the Board members.  The roll call showed there were 7 members present.

 

ITEM 3 - INTRODUCTIONS

 

            Chairman Hansen welcomed everyone.  

 

ITEM 4 - FINANCIAL ASSISTANCE COMMITTEE REPORT

 

            1)  SRF Applications

 

                        a)  Corinne City - Restructure Loan - Jesse Johnson

 

            Ken Bassett reported Corrine City is requesting the Drinking Water Board to decrease its financial assistance to $2,900,000 to construct a 1 MG gallon concrete storage tank, and replace 16,200 feet of 20-inch transmission line and 1,900 feet of 14-inch water line.  The project cost is estimated to be $3.02 million.  This is a reduction from the construction loan of $3.6 million from the January 14, 2009 Drinking Water Board meeting.  Corinne City has committed to providing $20,420 towards the project.             

 

            Ken mentioned the Financial Assistance Committee is recommending reauthorization of a $2.9 million construction loan with $816,000 in principal forgiveness and a 1.8% Hardship Grant Assessment for 30 years to be paid into the Hardship Grant Fund, and that a) the principle payments be adjusted and b) Corrine City be required to provide $100,000 of CDBG funding for the project instead of $300,000.

           

            Discussion followed.

           

            Ron Thompson moved to approve the Financial Assistance Committees recommendation for the Drinking Water Board to reauthorize a $2,900,000 construction loan with $816,000 in principal forgiveness to Corinne City with a 1.8% Hardship Grant Assessment per annum for 30 years to be paid into the Hardship Grant Fund.  The Committee also recommends that a) the principle payments be adjusted according to the attached schedule with lower initial payments that would increase over the life of the loan, and b) that Corinne City be required to only provide $100,000 of CDBG funding for the project instead or $300,000.

           

            Petra Rust seconded.

 

                                                                                    CARRIED

                                                                                    (Unanimous)

 

ITEM 5 - NEXT BOARD MEETING

 

            The next Board meeting will be held on:

 

            Date:  July 8, 2009

            Time:  12:00 p.m.

            Location:  168 North 1950 West, Room 101

                              Salt Lake City, Utah  84116

 

ITEM 6 - OTHER

 

            No other business.

 

ITEM 7 - ADJOURN

 

            Chairman Hansen stated a motion to adjourn the Board teleconference meeting was in order.

 

            Ron Thompson moved to adjourn the Board teleconference meeting at 3:10 p.m.

 

            Petra Rust seconded.

 

                                                                                    CARRIED

                                                                                    (Unanimous)  

 

 

 

                                                                                                    Linda Matulich

                                                                                                Recording Secretary