HomeMy WebLinkAbout01-30-2013 special called meeting
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City Council of Peachtree City
Special Called Meeting Minutes
January 30, 2013
9:00 a.m.
The Mayor and City Council of the City of Peachtree City met in special called meeting on
Wednesday, January 31, 2013. Mayor Haddix called the meeting to order at 9:00 a.m. Other
Council Members in attendance: George Dienhart, Vanessa Fleisch, Eric Imker, and Kim
Learnard.
The purpose of the meeting was to consider approval of the Water & Sewerage Authority
lW ASA) Bond Resolution and to consider re-appointment of Kim Learnard and Vanessa Fleisch
to lPFA) Public Facilities Authority board lboth 3 year terms).
Consider Approval of the Water & Sewerage Authority (WASA) Bond Resolution
Haddix asked if there was a need for a presentation on the agenda item. Council consensus
was not to have a presentation. The purpose of the resolution was for the Series 2013 bonds to
refinance the outstanding amounts of the W ASA Series 2002 and 2005 bonds and to authorize
the Mayor to execute the bond purchase agreement.
Imker moved to adopt the resolution for the W ASA bond that authorized the Mayor to sign the
bond documents. Learnard seconded. Motion carried unanimously.
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Financial Services Director Paul Salvatore introduced the bond attorneys. Todd Barnes told
Council the refinancing would have originally saved $50,000 per year on debt services, but the
actual saving would be $220,000 per year, with an overall savings of approximately $3.1 million.
The interest rate on the bond was 2.08%, which was credited to the City's AAA bond rating.
Consider Re-appointment of Kim Learnard and Vanessa Fleisch to Public Facilities Authority (FPA)
Board (both 3 year terms)
Dienhart moved to reappoint Kim Learnard and Vanessa Fleisch to the PFA board for three-year
terms. Imker seconded. Motion carried unanimously.
There being no further business to discuss, Dienhart moved to adjourn the meeting. Imker
~ Motion carried unanimously. The meeting a?,n d at 9:03 a.m.
Pamela Dufresne
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