Meeting Minutes 3-8-2021
MINUTES OF REGULAR MEETING
OF BOARD OF TRUSTEES
HOLIDAY SHORES SANITARY DISTRICT
Monday March 8, 2021
The Board of Trustees of the Holiday Shores Sanitary District met on the above date in regular session pursuant to laws and rules of said Board of Trustees and in accordance with the terms of the notice of regular meeting.
Brennan Murphy, President called the meeting to order. Trustees, Jeff Sedlacek and Richard Hayes were present. Also present were Carla Lankster, District Clerk and Mr. Ken Dulle of Restoration Resources, Operations.
OPEN FORUM
A proposal was presented to the Trustees by Mr. Kevin Euler of Associated Bank, the current financial institution for the District. The proposal for the re-finance of the loan was a very good percentage rate of 2.59%, however the interest rate on the deposit accounts would go to the book rate which is currently .02%. The district would also continue to pay fees for services and would have to pay half of the cost of a desk top scanner. If they offer 2.89% on the loan, they would offer .20% interest rate on the deposit accounts. The loan re-bonding fee would be $19,000.00, plus a $2,500.00 commitment fee.
The Trustees discussed the four bank proposals that have been submitted, during the last several meetings. Mr. Sedlacek looked through the comparison spreadsheet and commented that it looks like Carrollton Bank has the best interest rates and the lowest fees. Mr. Hayes abstained from the vote, due to knowing two of the bankers. Mr. Murphy said there is no need to table this decision any longer, and he is in favor of going with Carrollton. Therefore Mr. Sedlacek made a motion to change financial institutions to Carrollton Bank. Mr. Murphy seconded the motion, and the motion carries.
Brennan Murphy, President of the Holiday Shores Sanitary District Board of Trustees, is hereby given the authority to bind the agreement with Carrollton Bank, with his signature as President, outside of tonight’s meeting. Mr. Hayes made a motion to approve. Mr. Sedlacek seconded the motion, and all Trustees voted “Aye”.
Mr. Mark Mayes of 338 Overlook submitted a written request for a sewer credit on the leak he had in February and into the March reading period. He was not able to attend, because he works out of town. A reading was taken at the time the water was shut off, and 75,000 gallons went through in the week that Mr. Mayes was gone. The leak was repaired on 2/28/2021. The Trustees agreed to give the Sewer credit as well as a partial water credit . Mr. Hayes made a motion to approve the credits that total $498.00. Mr. Sedlacek seconded the motion, and all Trustees voted “Aye”. Mr. Murphy signed his approval of the credit.
APPROVAL OF MINUTES The minutes of February 8, 2021 regular meeting were submitted for approval. Mr. Hayes made a motion to approve the minutes for the February 8, 2021 regular meeting. Mr. Sedlacek seconded the motion and all Trustees voted “Aye”.
FINANCIAL The Summary of Accounts was reviewed for February, 2021. No motion necessary. However, there was a short discussion that water rates may need an increase. It has been a year since the last increase, and we want to be sure there are funds to continue to pay the water plant loan in the future.
DISBURSEMENTS
After reviewing the Accounts Payable disbursements for the month of February 2021, Mr. Sedlacek made a motion to approve the disbursements. Mr. Hayes seconded the motion and all Trustees voted “Aye”.
Restoration Resources submitted Invoice #671, dated 3/5/2021 for February Operations Management. Mr. Sedlacek made a motion to approve Restoration Resources Invoice #671, for February Operations Management. Mr. Hayes seconded the motion and all Trustees voted “Aye”.
APPROVAL OF APPLICATIONS
The water and sewer applications for February 2021 were reviewed. Mr. Sedlacek made a motion to approve February 2021 applications. Mr. Hayes seconded the motion and all the Trustees voted “Aye”.
OTHER
The Certificate of Deposit that was set up with funds for the Water Tower loan is maturing March 24, 2021. The Current interest rates are very low therefore the Trustees made a decision to close and cash out the CD in the amount of $89,886.98, and the funds will be transferred to the Water Trust Reserves account. A CD may be taken out again in the future if the rates increase to a favorable level.
UNFINISHED BUSINESS
The Commercial Insurance package and the Workers’ Compensation insurance are renewing on March 17, 2021. The policies are with Dimond Bros./Cincinnati Insurance, and the rates have been locked in for a three-year term guarantee. There was a slight increase, of $180.00 for the year, due to employee changes. Mr. Hayes made a motion to accept the Dimond Bros renewal of Commercial and Workers’ Compensation policies. Mr. Sedlacek seconded the motion, and all Trustees voted “Aye”.
NEW BUSINESS
No New Business to discuss.
OPERATIONS
Mr. Dulle said that CK Power gave the District a proposal for the replacement of the radiator for the 50kw Generator located at the office, in the amount of $6,100.00. The Generator is necessary to continue to provide services to the Customers during a power outage.
Skidsteer Hauling & Outdoor Service submitted a bid of $3,000.00 for the summer of 2021 to mow/brush hog all of the steep slopes/dams/bank areas of the lagoon. If this area is maintained, there will not be a need to remove trees that grow on the dam area. The tree roots can cause a breech in the dam, if left to grow wild.
ADJOURNMENT OF REGULAR MEETING
Mr. Hayes made a motion to adjourn the regular meeting. Mr. Murphy seconded the motion, and all Trustees voted “Aye”.
Respectfully submitted, Carla Lankster, District Clerk