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1999 10 28 BAWA Minutes, Special MeetingMINUTES OF THE SPECIAL MEETING OF THE BOARD OF DIRECTORS OF THE BAYTOWN AREA WATER AUTHORITY October 28, 1999 The Board of Directors of the Baytown Area Water Authority, Harris County, Texas, met in special session on Wednesday, October 28, 1999, at the Hullum Conference Room, Baytown City Hall, 2401 Market, with the following in attendance: Robert L. Gillette, President Dan Mundinger, Vice President Peter R. Buenz, Secretary Knox Beavers, Board Member Absent: Roy L. Fuller, Board Member The meeting opened with a quorum present, and the following business was conducted. Approve Preliminary Official Statement and Official Notice of Sale and Distribution Thereof, Authorize Advertisement for Sale of the Series 1999 Bonds, and Schedule Bond Sale Mike Daws, Finance Director, explained that the Preliminary Official Statement and Official Notice of Sale provides for sale of $19,098,000 in BAWA Revenue Bonds on November 10 at 1:30 p.m. The rating from Moody is "Aa" and the rating from Standard and Poors is "A-." Upon the advice of the Financial Advisor, BAWA may purchase bond insurance to assure the best rating possible. Board Member Buenz moved to approve the Preliminary Official Statement and Official Notes of Sale and Distribution thereof, authorize advertisement for Sale of the Series 1999 Bonds, and schedule the bond sale. Board Member Mundinger seconded the motion. The vote follows: Ayes: Nays: • Board Members Beavers, Buenz, Gillette and Mundinger None 991028-2 Minutes of the BAWA Meeting — October 28, 1999 Appoint Paying Agent/Registrar for the Series 1999 Bonds Mike Daws, Finance Director, recommended Chase Bank of Texas, National Association, as the paying agent/registrar for the 1999 Bonds at its principal payment office in Dallas. Board Member Mundinger moved to name Chase Bank of Texas, National Association, Dallas, Texas, as paying agent/registrar for the Series 1999 Bonds. Board Member Buenz seconded the motion. The vote follows: Ayes: Nays: Adjourn Board Members Beavers, Buenz, Gillette and Mundinger None There being no further business to be transacted, the meeting was adjourned. k24- Peter R. Buenz Secretary •