HomeMy WebLinkAbout2011-09-13 Utilities MinutesCity of Tukwila
Utilities Committee
UTILITIES COMMITTEE
Meeting Minutes
September 13, 2011 5: 00 p. m. Conference Room #1
PRESENT De'Sean Quinn, Chair; Dennis Robertson and Kathy Hougardy
Staff: Bob Giberson, Peggy McCarthy, Gail Labanara and Kimberly Matej
CALL TO ORDER: Committee Chair Quinn called the meeting to order at 5:00 p.m.
I. PRESENTATIONS
No Presentations
II. BUSINESS AGENDA
A. Pavoff: Earlv Redemption of 1995 Revenue Bonds
Staff is seeking Council approval for an early redemption of Revenue Bonds originally issued for
$4,500,000 from 1995. If approved, this early redemption will result in the payoff of the revenue bonds
three years earlier than scheduled. The payoff face value is currently $1,370,000 and the early payoff will
save the City approximately $150,000. Payoff monies will come from the Fund 401 Water, which was
the same fund financed by the original bonds for capital improvements.
Staff will also present this item as information only to the Finance Safety Committee. UNANIMOUS
APPROVAL. FORWARD TO SEPTEMBER 26 COW FOR DISCUSSION.
III. MISCELLANEOUS
Meeting adjourned at 5:16 p.m.
Next meeting: Tuesday, September 27, 2011 5:00 p.m. Con£ Room No. 1.
X Committee Chair Approval
Minutes by KAM. Reviewed by GL.