Norman Forward Citizens Financial Oversight Board Meeting

NORMAN FORWARD CITIZENS FINANCIAL OVERSIGHT BOARD MINUTES January 25, 2021 The Norman Forward Citizens Financial Oversight Board (CFOB) of the City of Norman, Cleveland County, State of Oklahoma, met at 1:30 p.m. on the 25th day of January, 2021. Notice and agenda of the meeting were posted in the Municipal Building at 201 West Gray and the Norman Public Library at 103 West Acres St. 24 hours prior to the beginning of the meeting. PRESENT: Chair Andy Rieger, Members Cynthia Rogers, Linda Price, and Tom Sherman ABSENT: Members MacKenzie Britt, Saidy Orellana, Liz McKown, and Bree Montoya OTHERS PRESENT: Anthony Francisco, Director of Finance Kathryn Walker, City Attorney Sarah Margaret Hendrickson, ADG AJ Kirkpatrick, ADG CALL TO ORDER AND ROLL CALL Chair Rieger called the meeting to order at 1:35 pm and a quorum was not present. ****** ITEM 1, being APPROVE MINUTES FROM December 7, 2020 MEETING The minutes were not approved due to having no quorum. Items submitted for the record: 1. Norman Forward Citizens Financial Oversight Board Minutes December 7, 2020. Norman Forward Citizens Financial Oversight Board Minutes January 25, 2021 Page 2 ****** ITEM 2, being DISCUSSION OF FINANCE REPORTS-FINANCE DEPARTMENT Anthony Francisco gave the update. The Ruby Grant Park and Andrews Park projects were added to the expenditure list of completed projects as “Near Final”. Sarah Henderson of ADG gave a presentation. She showed the revised charts comparing revenue collections and project budgets. ****** ITEM 3, being DISCUSSION OF PREVIOUSLY-APPROVED COUNCIL ACTIONS AND POSSIBLE ACTION Items submitted for the record: 1. K-1920-21 Final Final acceptance and final payment of Contract K-1920-21 between Norman Municipal Authority and American Ramp Company 2. K-2021-65 Purchase and sale agreement between Norman Tax Increment Finance Authority and University Town Center for the purchase of twelve acres in University North Park for the Indoor Multi-Sport and Aquatic Center 3. GID-2021-54 Consideration of acceptance of an incentive payment from Pepsi to the Norman Municipal Authority 4. K-2021-48 Final Final acceptance and final payment of contract K-2021-48 between the Norman Municipal Authority and Musco Lighting for the Andrews Skate Park 5. R-2021-70 Resolution of the City of Norman approving the incurrence of indebtedness by the Norman Municipal Authority issuing its $22,250,000 Sales Tax Revenue Note, Series 2020 6. R-2021-71 Resolution of the City of Norman approving the incurrence of indebtedness by the Norman Municipal Authority issuing its sales tax note Series 2020 in the principal amount of $22,250,000 Norman Forward Citizens Financial Oversight Board Minutes January 25, 2021 Page 3 ****** ITEM 4, being AD HOC COMMITTEE LIAISON REPORTS Jud Foster gave updates on the Ad Hoc Committee’s projects. ****** ITEM 5, being DISCUSSION OF PROJECT STATUS-PROJECT MANAGERS Kathryn Walker gave an update on the MOU for the operating agreement for the Multi-Sport and Aquatics Facility. ****** ITEM 6, being MISCELLANEOUS DISCUSSION None at this time. ****** ITEM 7, being ESTABLISHMENT OF FUTURE MEETING TIME(S) The next meeting of the Norman Forward Citizen’s Financial Oversight Board will be on February 8, 2021 from 3:30 pm-5pm. Norman Forward Citizens Financial Oversight Board Minutes January 25, 2021 Page 4 ****** ITEM 8, being ADJOURNMENT Meeting adjourned at 2:15 pm.