PARKWAY UTILITY DISTRICT MINUTES OF SPECIAL MEETING
OCTOBER 17, 2018
The Board of Directors (the “Board” or “Directors”) of Parkway Utility District (the “District”) met in a special session, at 6:30 p.m., at 12843 Tidwell Road, Houston, Texas, on Wednesday, October 17, 2018, pursuant to notice of said meeting posted in accordance with Chapter 551 of the Texas Government Code; whereupon the roll was called of the members of the Board, to-wit:
Brenda McNeil – President
Alphonso P. Rettig, Jr. – Vice President
Jennifer Balderas – Secretary
Ron Everhart – Assistant Secretary
Gloria M. Woods – Director
All members of the Board were present, except for Director Balderas. Also attending were: Gary Syzek of Systems Project Management; Bill Blitch of Blitch Associates, Inc. (“Financial Advisor”); Elliot M. Barner of Radcliffe Bobbitt Adams Polley PLLC (“Attorney” or “RBAP”); and all persons on the attached Attendance Roster.
The President, after finding that the notice of the meeting was posted as required by law and determining that a quorum of the Board of Directors was present, called the meeting to order.
OPEN HOUSE REGARDING THE DISTRICT’S MASTER PARK PLAN (THE “PLAN”) AND NOVEMBER 6, 2018 BOND ELECTION (THE “ELECTION”)
The Board, Messrs. Murr, Syzek, Blitch and Barner reviewed and discussed:
- The Plan, including: a) projects currently included in the Plan; and b) projects to be included in amendments to the Plan.
- The Election, including: a) the proposition language included on the ballot, which provides for the issuance of $9,750,000 in park bonds and levy of taxes adequate to provide for payment of the bonds and the issuance of refunding bonds; and b) the polling locations and voting schedule for the Election (early voting and Election Day).
- The process for issuing park bonds to pay for the Plan, including: a) the limitation on the amount of park bonds that the District may issue or have at a given time, which cannot be more than one percent (1%) of the assessed value of property within the District; b) the estimated financial impact on a park bond issuance on the average property owner within the District; and c) the process for the Board and the Texas Commission on Environmental Quality determine projects and scope of projects for the Plan.
THERE BEING NO FURTHER BUSINESS BEFORE THE BOARD, the meeting was adjourned.
PASSED AND APPROVED this the 20th day of November, 2018.
Secretary, Board of Directors