Keokuk Municipal 
       Waterworks
                Est. 1938


 

 Keokuk    Municipal    Waterworks
                         Board    of     Trustees
                             Meeting    Minutes



                                                        

   

                                                      KEOKUK MUNICIPAL WATERWORKS

BOARD OF TRUSTEES

JULY 25, 2019


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


Chairman Hausch opened the regular meeting. Motion was made by Trustee Bogner and seconded by Trustee Boyd, the minutes from the previous meeting of June 26, 2019, 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. Johnston reported to the Board that the Main Street Water Main Replacement is near completion, with August 2, being the deadline.


Ms. Barnes discussed monthly financials, budget, operating expenses, and water sales to date.


Ms. Dunagan presented a resolution to the Board, regarding the paying agent for bonds. After some discussion, the following resolution was adopted, RES #1075, Resolution Terminating Paying Agent and Registrar and Transfer Agent Agreements with Wells Fargo Bank, N.A. Company and Approving new Paying Agent and Registrar Agreement with BOKF

WHEREAS, the City of Keokuk, Iowa (the “City”), acting through the Board of Trustees (the “Board”) of Keokuk Municipal Waterworks, has adopted certain resolutions (the “Resolutions”) duly authorizing and providing for the issuance of certain bonds, notes or other obligations (collectively, the “Outstanding Obligations”); and

              WHEREAS, pursuant to the Resolutions, the City appointed Wells Fargo Bank, N.A. Company, Minneapolis, Minnesota (“Wells Fargo”), as the registrar and paying agent for the Outstanding Obligations and approved the execution of Paying Agent and Registrar and Transfer Agent Agreements (the “WF Agreements”) with Wells Fargo Bank, N.A. with respect to the Outstanding Obligations; andWHEREAS, it has been proposed that the City take action to terminate the WF Agreements in order to transfer its registrar and paying agent services to BOKF, National Association, Lincoln, Nebraska (“BOKF”); and

              WHEREAS, a new Paying Agent and Registrar Agreement (the “BOKF Agreement”) has been prepared for approval and execution by the Board and delivery to BOKF;                               NOW, THEREFORE, It Is Resolved by the Board of Trustees of Keokuk Municipal Waterworks System, as follows:

Section 1.        The City hereby terminates the WF Agreements.  The Board Secretary is hereby authorized to send an executed copy of this Resolution to Wells Fargo Bank, N.A. by regular mail or by email as soon as practical.  Furthermore, the Chairperson and the Board Secretary are hereby authorized to execute such documents as may be necessary to carry out the termination of the WF Agreements.  All action heretofore taken by the Chairperson and the Board Secretary in this regard is hereby ratified and affirmed.

            Section 2.        BOKF is hereby designated as the Registrar and Paying Agent for the Outstanding Obligations.  The City, acting through the Board, shall enter into the BOKF Agreement with BOKF covering services for the Outstanding Obligations, in substantially the form as has been placed on file with the Board; the Chairperson and Board Secretary are hereby authorized and directed to sign the BOKF Agreement on behalf of the City; and the BOKF Agreement is hereby approved.

            Section 3.        To the extent that the City has continuing disclosure requirements pursuant to Rule 15c2-12 of the Securities Exchange Act relative to the Outstanding Obligations, the City will cause a notice of the assignment of the Agreements to be posted on the MSRB Electronic Municipal Market Access (EMMA).
            Section 4.        All resolutions or parts thereof in conflict herewith are hereby repealed to the extent of such conflict. Motion was made by Trustee Boyd and seconded by Trustee Hickey. Motion carried.


Ms. Barnes reported that $8,455.00 was recovered, from the State Offset Program this year.

      

Ms. Rogers discussed with the Board that there were no safety incidents to report for the month of June. Also, she informed the Board that a date for the public hearing regarding the Old Lincoln School-Interior Shop Abatement Project needs to be set. After some discussion, the following resolution was adopted, RES. #1076, the Board hereby sets the date of August 28, 2019, at 2:30 P.M. for a public hearing for the Old Lincoln School-Interior Shop Abatement Project. Motion was made by trustee Bogner and seconded by trustee Hickey. Motion carried.


Ms. Rogers also discussed capital improvements.


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 August 28, 2019, at 2:30 P.M. at the Waterworks office.


ATTEST:  ____________________________              _________________________________

                  Andrea Rogers, PE, Secretary                      Mike Hausch, Chairman

 

Past Board Meeting Minutes:


June 26 Board Summary 2019.pdf


May 22 Board Summary 2019.pdf


April 24 Board Summary 2019.pdf


March 28 Board Summary 2019.pdf


March 20 Board Summary 2019.pdf


February Board Summary 2019.pdf


January Board Summary 2019.pdf


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


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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