HomeMy WebLinkAboutMinutes - EVWD Board of Directors - 12/20/1982EAST VALLEY WATER DISTRICT
ADJOURNED REGULAR MEETING
MINUTES
DECEMBER 20, 1982
The meeting was called to order at 5:30 p.m. by President Gerald W.
Stoops. Director Lightfoot led the flag salute.
ROLL CALL
PRESENT: Gerald W. Stoops, President; Glenn R. Lightfoot,
Vice President; Directors Philip Disch, Dennis L.
Johnson
ABSENT: Steven Beightler
STAFF: Edward C. Jakowczyk, General Manager; Larry W. Rowe,
Asst. Gen. Mgr /Engineer; Glenda Jay, Auditor; Bonnie
R. Eastwood, Secretary
MINUTES OF DECEMBER 11, 1982, ADJOURNED REGULAR MEETING
MINUTES OF DECEMBER 13, 1982, REGULAR MEETING
M /S /C (Disch- Johnson) that the Minutes of December 11, 1982 and
December 13, 1982 be approved as submitted.
RESOLUTION 1982.69 AUTHORIZATION FOR EXECUTION OF QUITCLAIM DEED TO
DENNIS AND MARYHELEN MERRETT
The Secretary stated that this quitclaim deed had been authorized in
1980 by the Board, however, Mr. Merrett had not recorded the quitclaim
deed and the documents were lost. This is merely a duplicate of the
original quitclaim deed as authorized by the Board.
M /S /C (Disch - Lightfoot) that Resolution 1982.69 be approved as
submitted.
RESOLUTION 1982.70 - RESOLUTION AUTHORIZING ACCEPTANCE OF FLEXIBLE
LINE OF CREDIT FROM SECURITY PACIFIC NATIONAL BANK
The Assistant General Manager indicated that Security Pacific Bank had
responded with an offer for extending to the District a flexible line of
credit in the amount of $500,000 at 12% interest, payable in monthly
payments. Monthly payments would depend upon the amount of monies drawn
on the account. The first payment would be on February 5, 1983. Although
Valley Bank had been contacted they had not responded to the District's
request. The Board and staff discussed the matter and determined they
would accept the terms of Security Pacific Bank.
M /S /C (Lightfoot- Johnson) that Resolution 1982.70 be approved for a
flexible line of credit with Security Pacific Bank in an amount up to
$500,000 at 12% interest up to 18 months.
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ROLL CALL VOTE:
AYES: Disch, Lightfoot, Johnson, Stoops
NOES: None
ABSENT: Beightler
r
ADJOURNMENT
There being no further business the meeting was adjourned at 5:50 p.m.
Bonnie R. Eastwood, Secretary
Gerald W. Stoop A, President
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