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From YouTube: Water Utilities Trust - April 14, 2020
Description
The regular meeting of the Oklahoma City water Utilities Trust of April 14, 2020.
A
A
B
C
A
A
A
D
B
A
B
A
B
D
B
A
You
next
item
is
an
emergency
construction
contract.
By
resolution
we
require
four
affirmative
votes.
I
will
read
this
resolution
ratifying
the
actions
of
the
general
manager
and
declaring
an
emergency
approving
bidding
documents
and
awarding
contract
to
Matthews
printing
company
Inc
project
FC
106
to
emergency
sanitary
sewer,
repair,
Northwest,
36th,
Street
and
I-44
highway
$250,000
ratifying
issuance
of
an
emergency
work
order
and
approving
contract
and
bonds.
I
would
recognize
a
motion
to
that
effect.
Move
the
emergency
resolution
there.
A
second.
D
D
A
You
we
now
have
items
for
individual
consideration.
First,
one
resolution
declaring
intent
of
the
Oklahoma
City
Water
Utilities
trust
to
expend
certain
funds
in
connection
with
certain
water
and
wastewater
system,
improvements
with
set
expenditures
to
be
reimbursed
from
the
proceeds
of
debt
to
be
incurred
by
the
trust
and
containing
other
provisions
relating
thereto,
and
there
will
be
for
affirmative
votes
required
for
approval.
D
B
D
A
State
revolving
fund
loan
designating
a
local
trustee
and
approving
and
authorizing
the
execution
of
trust
agreements
approving
and
authorizing
the
execution
of
security
agreement
ratifying
and
confirming
certain
utilities.
Lease
agreement,
approving
various
covenants,
approving
and
authorizing
the
dispersal
of
trust
funds
in
connection
with
the
reference
loan
or
loan
and
payment
of
fees
and
expenses
and
containing
other
authorizations
and
provisions
relating
their
case.
B
B
B
A
Six
hundred
fifty
thousand
dollars
approving
the
issuance
of
its
promissory
note
or
notes
in
one
or
more
series
and
the
total
aggregate
principal
amount
of
not
to
exceed
four
million.
Six
hundred
fifty
thousand
dollars
secured
by
a
subordinate
lien
pledge
of
revenues
and
authorizing
its
execution,
approving
and
authorizing
the
execution
of
loan
agreement
or
agreements
for
clean
water
state
revolving
fund
loan
designating
a
local
trustee
and
authorizing
the
execution
of
trust
agreement
or
agreements
approving
and
authorizing
the
execution
of
security
agreement
or
agreements
ratify
and
confirming
certain
utilities.
A
B
D
D
B
C
C
This
report
was
for
conditions
prior
to
our
current
over
nineteen
conditions.
We
stopped
disconnecting
water
for
non-payment
around
mid
March,
and
this
report
does
not
really
reflect
the
impact
where
it
suggests
that
our
revenues
and
our
expenses
are
tracking
as
normal
from
March
15th
to
the
end
of
March.
We
had
about
five
thousand
delinquent
accounts.
C
C
We
have
about
five
thousand
delinquent
accounts
and
we
don't
anticipate
those
accounts
will
be
paid
in
full
anytime
soon.
That
number
has
grown
from
five
thousand
at
the
end
of
March
to
out
over
7,000
and
out.
In
addition
to
that,
most
delinquent
accounts
averaged
about
a
hundred
and
seventy-five
dollars
in
the
in
arrears
and
now
they're
tracking
over
$300
per
count
in
arrears.
C
C
There
has
been
some
issue
with
the
commercial
paper
market
over
the
last
few
weeks
where
it
was
very
uncertain.
We've
had
a
number
of
conversations
with
our
our
financial
advisors
and
our
tax
advisers,
and
we
did
actually
have
to
sell
commercial
paper
earlier
this
month
and
it
came
in
pretty
good.
We
had
to
sell
18
million
dollars
and-
and
we
got
it
at
one
and
a
half
percent-
we
were
expecting
maybe
three
to
four
percent.
So
so
it
stabilized
somewhat.
C
We
are
losing
projects
out
unless
they're
absolutely
necessary,
so
that
we
can
keep
as
much
money
in
reserves
as
possible.
We
do
we
do
a
Pago
of
60%
finance
40%
cash,
so
we
do
have
cash
available
to
get
us
through
this
crisis.
So
I
don't
want
anybody
to
feel
that
we're
going
to
be
in
financial
trouble
here
any
time
in
the
foreseeable
future,
but
we.
C
Very
conservatively
and
we
expect
to
have
conditions
back
to
normal,
but
but
not
in
the
in
a
month
or
two.
We
we
expect
for
these
delinquent
account
to
be
repaid
over
some
period
of
time
anywhere
from
six
months
to
a
year,
because
when
people
did
go
back
to
work,
they're
not
going
to
not
going
to
have
the
money
to
repay
all
their
debt
at
once.
So
we're
gonna
have
to
work
with
people,
but
you
have
that
plan
in
place.