Here are the major actions taken by the Board at the meeting:
- Took bids for the sale of $1.5 million in unlimited tax bonds and accepted the bid with the lowest interest on the bonds (RBC Capital Markets at a net effective interest rate of 3.207753%).
- Authorized the auditor to perform a review of the developer reimbursements to be paid from bond proceeds.
- Approved an updated bulkhead repair policy.
- Approved installation of “no wake” signs on the south channel.
- Set new procedure to make sure resident questions are answered.
- Set next meeting date on January 24, 2020 at 10 a.m.
- Excerpts from draft minutes—not approved by the Board
Follow Up:
- Mike Andries to work with bookkeeper and engineer to prepare a District budget for fiscal year ending March 31, 2021.
Engineer to do the following:
- Finalize arrangements with contractor to make bulkhead cap repairs and place fill at approximately 20 locations in the District, to begin immediately.
- Arrange a meeting with Galveston Bay Foundation on a possible oyster reef project to help shelter the main channel from shifting silt. Jane McKenzie, Michael Vigneault and Ben Carmine interested in attending.
- Purchase no wake signs and have installed on the south channel.
- Finalize a pictorial on bulkhead repair priority categories.
- Finalize Maintenance Services Agreement and solicit interest.