Vice President, Thomas Bills called the Regular Board Meeting of the Woodrow-Osceola Water Supply Corporation to order at 6:30 P.M., October 09, 2012. All Directors were present with the exception of President Richard Greenhill and Jane Morgan. Also, Malcolm Tucker and one member were present.
Item 3: Jerry Spain-Water Leak
Mr. Spain was moved next on the agenda. He addressed the Board concerning his water bill of $2,674.00, due to a water leak on the customer’s side. He stated something needed to be done to move his meter. The Board stated in 2010, he was given an option to pay $2509.00 to extend his water line and move his meter and he would be given 2 years to pay the Corporation. He did not act on the issue, thus another water leak. Ray Mershawn made a motion the Corporation move the water meter from FM1369 to FM 1450S. The Corporation has an existing flush valve and the meter will be set about 200 ft, at the northwest corner of Mr. Spain’s fence line and the $2,674.00 water bill will be paid by Mr. Spain within 24 months. John Milburn seconded. Vote was unanimous.
Item 2: Approve Minutes
Johnnie Bankston read the minutes from the September 11, 2012 Regular Board Meeting. Linda Hasselstrom made a motion to accept the minutes as read. Ray Mershawn seconded. Vote was unanimous.
Item 4: Directors Source and Application of Funds
Johnnie Bankston read the minutes from the August 14, 2012 Regular Board Meeting. John Milburn made a motion to accept the minutes as read, with one correction. Sandra Chilcutt seconded. Vote was unanimous.
Item 4: Directors Source and Application of Funds
Malcolm Tucker presented the Source and Application of Funds. Linda Hasselstrom made a motion to accept the Source and Application of Funds as presented. John Milburn seconded. Vote was unanimous.
Item 5: Well #7 “Unanimous Consent” Resolution for CNB Loan
Secretary/Treasurer, Johnnie Bankston read the “Unanimous Consent” Resolution to the Board of Directors, which read as follows:
- $787,778.25 Loan from The Citizens National Bank of Hillsboro.
RESOLVED, that Richard Greenhill, as President of the Corporation, or Thomas L. Bills, as Vice President of the Corporation, or his duly appointed attorney-in-fact, be and he is hereby authorized and directed to do any and all things deemed necessary or advisable and in the best interest of the Corporation, to obtain a loan (the “Loan”) from The Citizens National Bank of Hillsboro (“Lender”) to the Corporation in the approximate amount of $787,778.25 to provide funds for purposes of construction of a water well known as the Rainville Well #7 on that certain unimproved real property more particularly described on Exhibit A attached hereto and incorporated herein for all purposes; all upon such terms and conditions, including such consideration therefore, as said officer may, in his sole discretion, deem appropriate and to execute any and all documents including, without limitation, deeds of trust, financing statements, security agreements, guarantees and other documents, which said officer may, in his sole discretion, deem necessary or appropriate to effect the foregoing.
This loan is in addition to the loan dated June 10, 2011, in the principal amount of $1,290,000 secured by Utility Security Instrument Real Estate Deed of Trust for Texas on the property more particularly described in Exhibit A.
- Authority.
RESOLVED, that the officers of the Corporation are hereby severally authorized to (a) sign, execute, certify to, verify, acknowledge, deliver, accept, file and record any and all such instruments and documents, and (b) take, or cause to be taken, any and all such action in the name and on behalf of the Corporation or otherwise (as in any such officer’s judgment shall be necessary, desirable or appropriate) in order to effect the purposes of the foregoing resolutions.
- Prior Actions.
RESOLVED, that all actions heretofore taken by the directors or the officers of the Corporation, and all things done by their authority, with respect to the Loan, and the transactions contemplated hereby, be and the same are hereby ratified and approved.
- Corporate Benefit.
RESOLVED, that the transactions contemplated by the foregoing resolutions are reasonably expected to benefit the Corporation, both directly and indirectly.
Linda Hasselstrom made a motion to accept the “Unanimous Consent” Resolution for the CNB Loan for Well #7. Charles Jones seconded. Vote was unanimous.
Item 6: Membership Changes
Sandra Chilcutt made a motion to accept 1-New Membership, 3 Transfers, 1 Sellback and No Revokes. John Milburn seconded. Vote was unanimous.
Item 7: Public Comment
None
Item 8: Directors and Manager Comments
Johnnie Bankston stated, the double hook-up on FM934 should be given a stated time to complete the construction to connect the two structures together. Malcolm said he would send a letter giving them 30 days or the water will be cut off. Thomas Bills asked Malcolm to keep the Board up to speed on the Mr. Spain issue.
Item 9: Executive Session
None
Item 10: Adjourn
Linda Hasselstrom made a motion to adjourn at 7:45 P.M. Charles Jones seconded. Vote was unanimous.
Respectively Submitted,
Johnnie Bankston
Secretary/Treasurer
Woodrow-Osceola Water Supply Corporation
WOWSC is an Equal Opportunity Provider and Employer
To file a complaint of discrimination write:
USDA, Director of Civil Rights, Room 326-W, Whitten Building, 14th and Independence Ave, S.W., Washington,D.C. 20250-941-, or call (800)795-3272 (voice), or (202) 720-6382 (TDD).