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From YouTube: Oklahoma City Water Utilities Trust - September 15, 2020
Description
The regular meeting of the Oklahoma City Water Utilities Trust, via video conference,
for Sept. 15, 2020.
A
A
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B
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D
B
A
G
Very
good
well
before
we
start
the
meeting
I'll
have
a
few
announcements
to
make.
First
of
all,
thank
you
for
joining
us
for
the
oklahoma
city,
water
utilities,
trust
meeting.
We
have
a
few
announcements
if
the
video
conference
is
disconnected
at
any
time
during
the
meeting,
the
meeting
shall
be
stopped
and
reconvened
once
the
connection
is
restored.
If
communications
are
unable
to
be
restored
within
30
minutes,
items
remaining
for
consideration
will
be
continued
to
later
today
september,
the
15th
at
four
o'clock
via
video
conference,
the
agenda
and
documents
are
located
at
okc.gov.
G
405-297-2422
or
email
awkward,
hyphen
support
at
okc.gov.
Please
provide
your
name
phone
number.
The
item
number
and
the
reason
you
wish
to
comment.
If
you
call
in
after
your
item
has
been
heard,
you
will
be
allowed
to
speak
under
citizens
to
be
heard.
Speakers
will
be
allowed
three
minutes
to
comment
staff
will
attempt
to
submit
requests
received
during
the
meeting
to
process
them
to
the
chair.
G
B
G
G
H
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F
Yes,
I
would,
madam
chairwoman,
the
item
before
you
is
a
resolution
which
would
repeal
a
previous
action
by
the
water
trust
on
august
18th
on
that
same
day
that
the
city
and
the
water
trust
approved
an
extension
of
the
timelines
for
the
water
settlement.
The
water
resources
board
approved
different
timelines
and
then
the
next
day
the
federal
government
asked
for
additional
time.
F
So
they
came
back
to
us
and
asked
if
we
would
repeal
the
prior
action
and
approve
new
documents
that
would
extend
the
timelines.
So
what
I
need
to
speak
about
is
in
addition
to
what's,
in
your
packet
last
night,
at
5,
12
and
5
42,
I
received
changes
to
the
two
documents.
The
first
one
which
you
see
before
you
is
the
document
which
changes
the
timeline
for
the
secretary
of
the
interior
to
publish
notice
in
accordance
with
their
procedures.
F
Similarly,
on
the
document
which
was
to
extend,
if
you
would
switch
to
the
second
document,
please,
there
was
just
to
extend
the
time
on
the
settlement
document
on
the
third
whereas
as
well.
It
changes
the
same
statutory
reference
to
add
section
1811
and
then
on
the
third,
whereas
on
the
second
page
it
adds
three
words.
The
word
such
extension
is
that
was
a
typographical
error
by
the
author
of
the
document
in
which
he
was
quoting
from
the
settlement
act
and
had
left
out
three
words.
So
those
were
the
changes.
F
F
E
F
E
E
H
A
I
I
The
benefit
of
selling
bonds
with
the
10-year
call
feature
is:
it
provides
the
opportunity
to
refund
the
bonds
if
interest
rates
are
low
and
that
allows
the
utility
to
lower
its
debt
service
costs,
which
is
a
benefit
to
rate
payers
in
2018
due
to
federal
tax
reform.
A
refunding
before
the
10-year
call
date
must
be
done
on
a
taxable
basis.
I
This
is
something
that
is
required
when
aqua
refunds,
bonds
under
its
bond
indenture,
because
the
bond
indenture
requires
the
use
of
a
debt
service
reserve.
The
graph
at
the
bottom
shows
the
very
low
interest
rate
environment.
If
you
look
at
the
gray
line,
you
will
see
where
current
interest
rates
are
and
then,
if
you
notice
the
red
dashes
that
is
the
lowest
each
one
of
those
maturities
has
been
since
2000.
So
over
the
last
20
years
rates
are
at
all
time,
historic.