SPECIAL MEETING - November 3, 2014
BE IT REMEMBERED, that on this 3rd day of November A.D., 2014, there was begun and held a SPECIAL MEETING of the Honorable Commissioners’ Court of Hidalgo County, Texas, wherein the following members thereof were present, to-wit:
| HONORABLE RAMON GARCIA HONORABLE JOE M. FLORES HONORABLE JOSEPH PALACIOS |
HIDALGO COUNTY JUDGE COMMISSIONER, PRECINCT NO. 3 COMMISSIONER, PRECINCT NO. 4 |
and ARTURO GUAJARDO, JR., COUNTY CLERK & EX-OFFICIO CLERK OF THE COMMISSIONERS’ COURT of Hidalgo County, Texas, wherein the following proceedings were had, to-wit:
 |
AGENDA DRAINAGE DISTRICT BOARD OF DIRECTORS November 3, 2014 9:00 A.M. |
NOTICE is hereby given in accordance with Chapter 551, Texas Government Code, that a SPECIAL MEETING of the Drainage District #1 Board of Directors will be held at the Edinburg Council Chambers 415 W. University Drive, Edinburg, Hidalgo County, Texas. Discussion and possible action relating to the following business will be transacted:
1.
Roll Call
All members of the Board were counted present for the exception of Commissioner Pct. 1, A.C. Cuellar, Jr. and Commissioner Pct. 2, Hector "Tito" Palacios.
All members of the Board were counted present for the exception of Commissioner Pct. 1, A.C. Cuellar, Jr. and Commissioner Pct. 2, Hector "Tito" Palacios.
2.
Open Forum
No Open Forum discussions.
No Open Forum discussions.
3.
AI -47216
A. Presentation by Hidalgo County Drainage District No. 1 Financial Advisor; First Southwest Company with respect to the issuance, sale and delivery of Hidalgo County Drainage District No.1 Unlimited Tax Refunding bonds, Series 2014.
Mr. Cris Vela, First Southwest Company, presented a packet displaying the interest rate comparable, the Plan of Finance, and Bond Rating information for the Boards consideration.
B. Consideration and approval of a Resolution authorizing the issuance, sale and delivery of Hidalgo County Drainage District No.1 Unlimited Tax Refunding Bonds, Series 2014; delegating certain authority to the Chairman of the Board and the Financial Officer of the District pursuant to the provisions of Texas Government Code, Sections 1207.007 and 1207.008; levying a continuing direct annual ad valorem tax authorizing the refunding of certain outstanding bonds; authorizing the execution of a bond purchase contract; approving the official statement, execution of escrow and trust agreement, and making other provisions regarding such bonds and matters incident thereto.
On motion by COMMISSIONER PCT. 4, JOSEPH PALACIOS, seconded by COMMISSIONER PCT. 1, A.C. CUELLAR, JR., the Court made a UNANIMOUS vote of approval.
Vote: 3 - 0 - Unanimously
Mr. Cris Vela, First Southwest Company, presented a packet displaying the interest rate comparable, the Plan of Finance, and Bond Rating information for the Boards consideration.
B. Consideration and approval of a Resolution authorizing the issuance, sale and delivery of Hidalgo County Drainage District No.1 Unlimited Tax Refunding Bonds, Series 2014; delegating certain authority to the Chairman of the Board and the Financial Officer of the District pursuant to the provisions of Texas Government Code, Sections 1207.007 and 1207.008; levying a continuing direct annual ad valorem tax authorizing the refunding of certain outstanding bonds; authorizing the execution of a bond purchase contract; approving the official statement, execution of escrow and trust agreement, and making other provisions regarding such bonds and matters incident thereto.
On motion by COMMISSIONER PCT. 4, JOSEPH PALACIOS, seconded by COMMISSIONER PCT. 1, A.C. CUELLAR, JR., the Court made a UNANIMOUS vote of approval.
Vote: 3 - 0 - Unanimously
Attachments:
4.
Closed Session:
Board of Directors may go into Closed Session pursuant to Chapter 551, Texas Government Code, Sections 551.071 & 551.072 to discuss the following:
NO ACTION taken on this Item.
Board of Directors may go into Closed Session pursuant to Chapter 551, Texas Government Code, Sections 551.071 & 551.072 to discuss the following:
NO ACTION taken on this Item.
A.
Real Estate Acquisition
B.
Pending and/or Potential Litigation
NO ACTION taken on Items 4.A and 4.B.
NO ACTION taken on Items 4.A and 4.B.
5.
Open Session:
A.
Real Estate Acquisition
B.
Pending and/or Potential Litigation
NO ACTION taken on Items 5.A and 5.B.
NO ACTION taken on Items 5.A and 5.B.
6.
Closed Session:
Board of Directors may reconvene into Closed Session for the discussion regarding the agenda items listed
NO ACTION taken on this Item.
Board of Directors may reconvene into Closed Session for the discussion regarding the agenda items listed
NO ACTION taken on this Item.
7.
Open Session:
Board of Directors may reconvene into Open Session for the discussion regarding the agenda items listed
NO ACTION taken on this Item.
Board of Directors may reconvene into Open Session for the discussion regarding the agenda items listed
NO ACTION taken on this Item.
8.
Adjourn
On motion by COMMISSIONER PCT. 4, JOSEPH PALACIOS, seconded by COMMISSIONER PCT. 3, JOE M. FLORES, the Court made a UNANIMOUS vote of approval.
Vote: 3 - 0 - Unanimously
There being no further business to come before said
Court, the meetings of the Commissioners' Court and the
Drainage District #1 Board are now hereby adjourned.
Dated this the 3rd day of November, 2014
ARTURO GUAJARDO, JR., County Clerk
Hidalgo County, Texas
By: ______________________________
Virginia Jones, Deputy
I, ARTURO GUAJARDO, JR., County Clerk attest that this is an accurate accounting of a proceeding of the Commissioners’ Court held on November 3, 2014.
Signed this 3rd day of November 2014
ATTEST:
ARTURO GUAJARDO, JR.
County Clerk and Ex-Officio Clerk
Of the Commissioners’ Court of
Hidalgo County
By: ____________________________
(Seal) Virginia Jones, Deputy
Court, the meetings of the Commissioners' Court and the
Drainage District #1 Board are now hereby adjourned.
Dated this the 3rd day of November, 2014
ARTURO GUAJARDO, JR., County Clerk
Hidalgo County, Texas
By: ______________________________
Virginia Jones, Deputy
I, ARTURO GUAJARDO, JR., County Clerk attest that this is an accurate accounting of a proceeding of the Commissioners’ Court held on November 3, 2014.
Signed this 3rd day of November 2014
ATTEST:
ARTURO GUAJARDO, JR.
County Clerk and Ex-Officio Clerk
Of the Commissioners’ Court of
Hidalgo County
By: ____________________________
(Seal) Virginia Jones, Deputy