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-"'f: ~ :-.... . ~CHMENT II ,~ ."..OFO..........'-'~..tNOCO. RECORD OF PROCEEDINGS WATER-SEWER BOARD MEETING May 7, 19B7 Chairman Farr called the Water-Sewer Board meeting to order on Thursday. May 7, 19B7 at 4:08 p.m. in the City Council Chambers. Civic Center Complex. I. ROLL CALL Present at the meeting were Board members: W. D. Farr, Elmer Rothe, David Clarkson, and Water Board Attorney Bl11 Bohlender. Also present was Special Projects Manager Leonard Wiest. From the Water and Sewer Department were Director Mark Rybus and staff members. Representing the East Greeley land Company was Mr. Ernest Scott. 2. APPROVAL OF MINUTES A motion was made by David Clarkson and seconded by Elmer Rothe to approve the minutes of the meeting of April I, 1987 as presented. The motion was carried unanimously. 3. APPROVAL OF ANU/OR AOOITIONS TO AGENDA Mr. Rybus requested the addition of Item 10, Consideration of Re-Rent Agreement with R.K.W. Partnership and Offer for Purchase of 1.77 Acre Feet of Seven Lakes Water. The agenda was approved as amended. 4. CONSIOERATION OF SETTING THE CASH EOUIVALENT RATE IN LIEU OF WATER RIGHTS EXCHANGE A motion was made by Elmer Rothe and seconded by David Clarkson to set the cash in lieu of water rate at $1,000 per acre foot. The motion was carried unanimously. 5. CONSIDERATION OF A RESOLUTION CONCERNING THE PROPOSED SALE OF GENERAL OBLIGATION WATER IMPROVEMENT AND REFUNOING 80NOS Leonard Wiest commented that this bond issue is a combined issue for new money and refunding two outstanding bond issues at a lower interest rate. The new interest rate wi 11 be 7.02%, and Mr. Wiest said the staff is pleased with this rate. The savings on refunding the outstanding bond issues is projected to be $480,000. There was also a substantial savings in fixed bond issue costs as a result of the City's combining the new money issue with the refunding rather I than issuing two sets of bonds. Mr. Wiest recommended approval of the resol ution, and Mr. Rybus read it in full. A motion was made by David Clarkson and seconded by Elmer Rothe to approve the resolution. The motion was carried unanimously. 6. CONSIOERATION OF A REOUEST FOR RELOCATION OF TIlE GRAPEVINE LATERAL AND GRANTING OF AN EASEMENT TO FACILITATE THE RELOCATION The East Greeley Land Company, represented by Mr. Ernie Scott, is the owner of vacant land adjacent to the City's Mosier Hill Reservoir. The Grapevine Lateral presently runs across both properties. To enhance development of their property, the East Greeley land Company would like to relocate the Grapevine Lateral so it would run along the property boundaries. The Land Company was requesting that the City dedicate a 30 foot easement down the side of its property in lieu of the existing easement which runs across the rroperty. There would be no cost to the City for the proposed relocation, and Mr. Rybus said it is the staff's feeling that development of the property would benefit the City by cutting down on trash dumping and vandalism problems which presently exist. Mr. Rybus reco~nended that the Roard authorize the City staff to negotiate the exchange with Mr. Scott.