Special BA Meeting

MINUTES OF THE MUNICIPAL BUILDING AUTHORITY SPECIAL MEETING – APRIL 26, 2022 -1- THE MUNICIPAL BUILDING AUTHORITY OF WEST VALLEY CITY MET IN SESSION FOR THE SPECIAL MEETING ON TUESDAY, APRIL 26, 2022, AT 6:51 P.M. THE MEETING WAS CALLED TO ORDER BY CHAIR DON CHRISTENSEN. THIS MEETING WAS HELD ELECTRONICALLY. THE FOLLOWING MEMBERS WERE PRESENT: Don Christensen- Chair Lars Nordfelt Karen Lang Tom Huynh William Whetstone ABSENT: Scott Harmon Jake Fitisemanu STAFF PRESENT: Wayne T Pyle, Chief Executive Officer Nichole Camac, Secretary Nicole Cottle, Assistant City Manager/General Counsel Steve Pastorik, CED Director Eric Bunderson, City Attorney Layne Morris, CPD Director Michael Fossmo, Acting Police Chief (electronically) John Evans, Fire Chief Steve Hyde, Acting Finance Director(electronically) Nancy Day, Parks and Recreation Director (electronically) Dan Johnson, Public Works Director John Flores, HR Director (electronically) Sam Johnson, Strategic Communications Director APPROVAL OF MINUTES OF ANNUAL MEETING HELD JANUARY 4, 2022 The Board considered Minutes of the Annual Meeting held January 4, 2022. There were no changes, corrections or deletions. Ms. Lang moved to approve the Minutes of the Annual Meeting of January 4, 2022. Mr. Huynh seconded the motion. MINUTES OF THE MUNICIPAL BUILDING AUTHORITY SPECIAL MEETING – APRIL 26, 2022 -2- A voice vote was taken and all members voted in favor of the motion. RESOLUTION 22-01: AUTHORIZE THE ISSUANCE AND SALE OF NOT MORE THAN $6,500,000 AGGREGATE PRINCIPAL AMOUNT OF LEASE REVENUE BONDS, ESTABLISHING PARAMETERS FOR THE FINAL TERMS AND PROVISIONS OF SAID BONDS, AND APPROVE ALL ACTIONS NECCESARY TO SAID ISSUANCE Wayne Pyle, City Manager, presented proposed Resolution 22-01 that would authorize the Issuance and Sale of Not More Than $6,500,000 Aggregate Principal Amount of Lease Revenue Bonds, Establishing Parameters for the Final Terms and Provisions of Said Bonds, and Approve All Actions Necessary to Said Issuance. Written documentation previously provided to the City Council included information as follows: The purpose of this bond issue is to provide funds to finance the acquisition, construction, equipping and furnishing of remodel of existing Third District Court Building to and for the use of West Valley City Justice Court. West Valley City has determined that it is in the best interest to issue the Bonds in the approximate amount of $6,500,000 for the purpose of financing this needed construction. Councilmember Whetstone asked if the bond would be for the full $6,500,000. Wayne replied that it will not exceed that amount but will likely be less. He indicated that the total will be established when the rate and length of term is determined. Upon inquiry by Chairman Christensen there were no further questions from members of the Authority, and he called for a motion. Mr. Nordfelt moved to approve Resolution 22-01. Ms. Lang seconded the motion. A roll call vote was taken: Mr. Fitisemanu Absent Mr. Whetstone Yes Mr. Harmon Absent Mr. Huynh Yes Ms. Lang Yes Mr. Nordfelt Yes Chairman Christensen Yes MINUTES OF THE MUNICIPAL BUILDING AUTHORITY SPECIAL MEETING – APRIL 26, 2022 -3- Unanimous. MOTION TO ADJOURN Mr. Huynh moved to adjourn at 6:54 PM. THERE BEING NO FURTHER BUSINESS OF THE MUNICIPAL BUILDING AUTHORITY OF WEST VALLEY CITY, THE SPECIAL MEETING OF TUESDAY, APRIL 26, 2022, WAS ADJOURNED AT 6:54 PM BY CHAIRMAN CHRISTENSEN. I hereby certify the foregoing to be a true, accurate and complete record of the proceedings of the Special Meeting of the Municipal Building Authority of West Valley City held Tuesday, April 26, 2022. ______________________________ Nichole Camac Secretary