Minutes - Board - 2000-01-27L
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COSTA MESA SANITARY DISTRICT
Minutes of Board of Directors Special Meeting held January 27, 2000
The Board of Directors of the Costa Mesa Sanitary District met in special session on
January 27, 2000, at 12:00 p. m., in conference room 1A at the Civic Center, 77 Fair Drive,
Costa Mesa, California.
President Perry called the meeting to order at 12:00 p.m.
Vice President Schafer led the Pledge of Allegiance.
Director Woodside gave the invocation.
Roll Call: Directors Present: Art Perry, Arlene Schafer, Greg Woodside, James
Ferryman, Dan Worthington
Staff Present: Rob Hamers, Manager; Joan Revak, Clerk of the
District; Dawn Schmeisser, Assessment Specialist;
Alan Burns, Legal Counsel; Marc Puckett, Treasurer;
Ron Hayes, Accounting
Others Present: Gregg A. Lowry, Reiter.Lowry Consultants
Kathy Buie, Reiter.Lowry Consultants
Robert A. Oman, Oman Financial Systems
ORANGE COUNTY INVESTMENT POOL SETTLEMENT AGREEMENT AND LIMITED RELEASE
Attorney for the District, Alan Burns, presented a letter to the Board relating to the final
distribution of monies remaining from the bankruptcy. The District can expect to recover about
$277,607.34 on its settlement secured claim (100 %) and approximately $115,483.00 (out of
$304,406.04 possible) on its repayment claim.
Mr. Burns further informed the Board of "found monies ", totaling $17,884.995 with $1.8 million
in interest that will be apportioned. The District will gain about $6,312 in this distribution and
will be required to execute a settlement agreement as a condition of receiving the distribution.
Director Ferryman motioned to accept the settlement agreement. Vice President Schafer
seconded the motion. Motion carried unanimously.
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CMSD BOARD OF DIRECTORS SPECIAL MEETING
• January 27, 2000
REVIEW OF TRASH AND SEWER OPERATIONS AND FUNDS
Mr. Hamers introduced Mr. Gregg Lowry of Reiter.Lowry Consultants and reviewed the work
done by Marc Puckett, District Treasurer, Gregg Lowry, Dan Worthington's consultant and the
brief review of Bob Oman. Testimony was heard from Gregg Lowry, Marc Puckett, Bob Oman
and Alan Burns. Discussion was held by the Board of Directors.
Director Ferryman made a motion for the District to adopt the fund balances shown in the
report by Gregg Lowry dated January 21, 2000, and authorize Mr. Lowry to complete the final
report. Vice President Schafer seconded the motion. Motion carried 4 -1 as follows:
Perry
Aye
Schafer
Aye
Woodside
Aye
Ferryman
Aye
Worthington Abstain
• ADJOURNMENT
At 1:35 p. m. President Perry adjourned the meeting.
-`- SECRETARY
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