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From YouTube: Oklahoma City Water Utilities Trust - May 12, 2020
Description
The regular meeting of the Oklahoma City Water Utilities Trust, via video conference, for May 12, 2020.
A
B
C
C
A
B
Mr.
chairman
and
trustees,
aquas
financial
advisor
pfm
has
reported
to
us
that
the
financial
markets
are
currently
very
favorable
for
refinancing
the
2009
bonds
and
that
we
could
get
about
2.5
million
dollars
of
savings
if
we
reissued
the
bonds
with
our
own
revenue
bonds,
as
we
have
traditionally
done
in
the
past,
but
we
also
met
with
the
water
board
and
looked
at
their
programs
and
found
that
we
could
say
4.5
million
dollars
if
we
use
their
program
and
pfm
recommends.
We
proceed
with
that.
Concurrent
with
that.
B
We
traditionally
refinance
outstanding
commercial
paper
whenever
we
would
do
a
refunding-
and
we
have
about
thirty-
seven
point-
six
million
outstanding
of
that.
If
we
refinance
that
will
save
about
two
million
dollars
on
that
as
well
as
far
as
long-term
financing
bond
Council
recommends,
we
get
tax
counsel
to
help
with
these
matters
and
also
have
ongoing
services
for
our
commercial
paper
program.
B
So
the
resolution
provides
the
authorization
for
our
assistant
municipal
councillor,
which
is
the
general
counselor
to
the
trust,
to
negotiate
that
agreement
and
for
the
Chairman
to
sign
that
agreement
and
the
loan
applications
with
the
water
board
and
bring
back
resolutions
to
the
trust
and
council
for
the
resolution
of
intent
at
a
future
meeting
for
their
consideration.
These
will
provide
significant
savings
to
our
customers
and
the
reduction
of
long-term
debt
and
fee
help
in
future
adjustments.
I
can
answer
any
questions.
D
B
D
Possibly
four
million
dollars
if
we
go
through
the
Oklahoma
Water
Resources
Board
now
I
know
it's
a
sensitive
question,
but
are
there
any
potential
problems
and
I
guess
what
I'm
actually
saying
is
the
Oklahoma
Water
Resources
Board
solvent?
Is
it
financially
strong
enough
to
where
we
wouldn't
incur
any
potential
problems
by
utilizing
them
to
issue
the
bonds
so.
B
What
the
water
board
does
is
they
have
a
pre
funded
loan
program
account
and
they
bundle
the
loan
funds,
and
then
they
loan
the
money
out
to
various
waterways,
where
utilities
across
the
state
there's.
No,
so
what
we
would
be
doing
is
we
would
be
paying
money
to
the
water
board
for
the
repayment
of
our
loans
and
then
they
would
pay
those
loans
off.
We
would
have
no
responsibility
for
the
states
OWR
B's
bonds.
We
would
only
have
responsibility
to
pay
our
loans
back
to
them
now.
B
The
financial
savings
difference
is
because,
when
you
go
to
the
to
the
water
board-
and
we've
we've
talked
about
this
before
for
the
SRF
Bombo
loans,
this
one
is
just
a
little
bit
different,
but
it's
another
loan
program
they
have,
they
don't
require
a
bond
reserve
fund
so
that
additional
savings
from
the
2.5
to
the
4.5.
That
two-million
is
the
fact
that
we
would
be
able
to
take
those
bond
reserves
from
the
2009
bonds
and
use
them
to
lower
the
amount
we
would
have
to
borrow
to
do
the
refunding.
B
D
D
There's
always
you
know
when,
when
there's
a
savings
here,
there's
usually
a
cost
or
and
when
I
use
the
term
cost
additional
risk
or
something
associated
with
that
savings
and
I
just
want
to
hear
from
somebody
that
we
don't
think
we're
taking
on
any
more
additional
risk
by
going
that
route,
and
it's
just
a
pure
win
to
us
by
doing
it
that
way,
with
no
additional
risk.
That's.
H
H
H
The
mayor
has
sent
a
letter
to
our
congressional
group
in
Washington,
asked
them
to
consider
funding
to
enable
us
to
take
some
money
and
kind
of
clear
that
that,
from
those
specific
individuals
who
cannot
pay
their
their
water
accounts
so
that
we
can
continue
to
serve
them
after
the
moratorium.
That
expires
so
we're
working
on
a
few
things
to
help
in
that
regard,
and
I
just
wanted
to
give
you
all
an
update
of
where
we
are
because
I
know.
There's
some
concern
about
the
future
financial
status
of
the
bad
bet
accounts.
F
H
We're
not
we're
not
turning
their
water
off
and
with
our
lauren
communication
with
them,
and
we've
asked
some
folks.
We've
asked
them
all
to
set
up
a
payment
plan,
some
can
and
some
can't,
but
we
intend
to
extend
the
payment
plan
for
about
twelve
months
after
the
moratorium
has
exhausted,
because
we
know
people
are
going
to
have
a
difficult
time
so,
instead
of
at
two
or
three
months,
we're
going
to
try
to
give
them
at
least
at
least
12
months,
if
they'll
work
with
us
now,
some
of
these
folks
have
moved.
You
know
we.
H
We
normally
have
two
or
three
hundred
a
day
that
we
shut
off
within
a
day
or
two
unless
they
have
moved
and
just
didn't
pay
their
bill.
We
restore
service
because
we
work
out
a
payment
plan
with
them
and
we
expect
to
continue
to
do
that,
but
it'll
be
a
little
bit
more
forgiving
plan
than
we
have
had
in
the
past,
where
we'll
extend
their
payment
plan
out
for
12
months
instead
of
it.
D
E
D
E
Me
interject
there.
This
is
Laura
that
one
one
thing
for
consideration
when
we
talk
about
that
is
we're
trying
to
come
at
it
from
the
angle
of
could
the
cares
money
be
used
to
forgive
those
individuals
from
the
debt
and
that's
a
small
nuance
to
the
utility,
but
it
is
important
to
the
federal
government
that
the
money
be
used
for
individual
relief
and
not
necessarily
for
the
relief
of
the
utility
and
its
revenues.
Okay,.
D
No,
no,
that's
fine!
Thank
you!
Okay,
so
Chris
I've
got
one
more
question
and
it's
probably
as
naive
as
the
one
I
asked
a
few
months
ago
about
how
to
how
the
water
gets
from
one
of
the
reservoirs
to
my
home,
but
so
in
situations
where
were
full,
that
being
the
lake
levels,
the
only
way
to
avoid
losing
that
excess
water
is
to
enlarge
the
reservoirs.
Is
that
correct
I
mean
it
just
it
just
overflows
or
it
seeps
away.
H
Well,
on
the
heavier
and
Overholser:
let's
take
a
look
at
the
the
northern,
the
northwestern
reservoirs
that
water
actually
comes
down,
Canadian,
River
and
and
it
is
diverted
into
the
two
water
supply.
So
if
they're
clear
full,
we
just
let
the
water
just
just
pass
on
by
now:
okay
Southside
on
the
southeastern
Oklahoma
reservoir,
so
we
pumped
from
the
coca
to
Draper
and
yes,
okay,
same
amount
as
where
as
we're
using
every
day,
so
the
lake
stay
and
relatively
cool
McGee
Creek
at
times
has
to
release
water.
H
Well,
they
they
release
some
every
day
by
by
contractual
agreement,
but
they
may
release
a
little
more
there.
There
have
been
times
asked
where
the
lake
was
several
feet
above
full
pull
and
they
and
they
release
that
water,
and
so
you
are
correct,
we
can
only
hold
so
much
in
the
only
way
we
could
hold
more
would
be
to
enlarge
those
in
appendix
but
but
for
now
that's
just
not
a
real
practical
thing
to
do
say:
okay,
try
to
balance!
H
If
you
remember
a
couple
of
years
ago,
you
all
approved
a
lake
balance
plan
and
we
have
been
managing
that
lake
balance
plan
to
keep
them
all
within
a
foot
or
two
of
one
another
throughout
the
year.
So
instead
of
filling
them
up
in
the
winter
and
pumping
them
down
in
the
summer
and
then
trying
to
refill
them
in
the
winter.
And
if
we
get
a
dry
winter,
then
we're
a
challenging
point.
They're
trying
to
keep
them
full
we're
just
trying
to
keep
them
as
full.
As
we
can
year-round
great.
H
Have
water
storage,
tanks
throughout
our
system
and
those
water
storage
tanks
are
used
to
kind
of
dampen
the
impact
of
the
use
versus
the
demand.
So
if
we
just
ran
the
system
on
pumps
all
the
time,
the
water
pressure
would
go
up
and
down
depending
on
the
demand,
so
we
use
the
storage
tanks
to
help
kind
of
dampen
that,
where
we're
not
pumping
all
the
time,
we
have
storage
there.
In
addition
to
that,
it
kind
of
helps
us
in
an
emergency
as
well.