WANAQUE BOROUGH
SEWERAGE AUTHORITY
MINUTES
Regular Meeting
September 9, 2008
The regular
meeting of the Wanaque Borough Sewerage Authority was held on September 9, 2008
at
Chairman Bolduc presided and read the following Sunshine
Statement:
“Adequate notice of this meeting has been provided by the
Authority by mailing notice of this meeting to the Trends and Herald & News
Newspapers on March 5, 2008, stating therein that this meeting would be held at
579 Ringwood Avenue, Wanaque, New Jersey including agenda therefore, and a copy
of this notice was posted in the Wanaque Municipal Building on March 5, 2008
and a copy is on file in the office of the Authority”.
ROLL CALL:
On roll call the
following Commissioners responded:
Andrew R. Bolduc
Joseph Garland
Mark Reuter
Cmsr. Covelli arrived at 7:36 P.M.
Cmsr. John DiMeglio was absent.
Professionals Present:
Charles Ferraioli, CPA
Jeffrey M. Kassover, Esq.
William J. Kelly,
Penny Schlagel, Office Manger
3. MINUTES:
The regular
meeting minutes of August 12, 2008 were presented. No corrections or deletions.
Cmsr. Reuter moved for the approval of the above-mentioned
minutes. Seconded by Cmsr.
On roll call all voted yes and the Chrm. declared this set
of minutes adopted.
4. PUBLIC DISCUSSION:
Since no one from
the public entered any discussion, the Chrm. closed this portion of the
meeting.
5. COMMUNICATIONS:
1. Ltr. from Affirmative Action
Received &
File
6. NEW BUSINESS:
None
7. UNFINISHED BUSINESS:
None.
**********Cmsr. Covelli
arrived**********
8. PROFESSIONAL/COMMITTEE REPORTS:
1. Jeffrey M.
Kassover, Esq.
a. Bonds
Mr. Kassover stated that the Bond Sale took place on August
26th. The actual closing is scheduled for next Tuesday (Sept. 16th). All approvals, contracts, etc. have been
completed and approved. The funds should
then hit very shortly thereafter.
2. William J. Kelly,
Gorge
Drive Sewer Extension:
Cmsr. Reuter
moved a Resolution authorizing William J. Kelly;
On roll call all voted yes and the Chrm. declared this
Resolution adopted.
Mr. Kassover then stated that he had prepared a letter
thanking all the residents whom answered our letter on Phase 2 Gorge Dr.
All commissioners reviewed it, and Cmsr. Covelli requested
a minor change.
3. Charles
Ferraioli, CPA
a. Bonds
Mr. Ferraioli
stated that there was a $237,000. savings on this bond sale. Our debt payments are due in June and
December. From now until 2018 our debt
service drops by $187,000 and they are paid in 2028. (See attached.)
Mr. Kassover then stated that Mr. Beinfield told him that
$15,000. to $20,000. could be taken from the Bond Reserve Fund.
Mr. Ferraioli replied that this fund is for a year of
principal and interest if the Authority could not make a bond payment. Because of the refunding, our debt service
has dropped; therefore we can take $18,000. to $20,000 out of the Reserve Fund.
Cmsr. Covelli stated that he would like to commend Mr.
Ferraioli, Mr. Kassover and all the bond professionals for a job well done.
4. Penny Schlagel,
Office Mgr.
a.
Valleyview at Wanaque:
Mrs. Schlagel
stated that everyone has a copy of the letter she sent to Valleyview reminding
him or her that their connection fee installment is due on September 26, 2008
in the amount of $47,200.
Mr. Kassover replied that if the funds are not received
within a week after the due date, to please notify him.
b. PCCC Meter:
Mrs. Schlagel stated that Mr. Kostro called her today to
advise that someone had flipped a switch in a shed, or lightening may have
it. Regardless, the meter was not
reading properly and he would be contacting Mr. Kelly to discuss this matter.
Chrm. Bolduc directed Mr. Kelly to contact Mr. Kostro
regarding this matter.
5. Cmsr. Mark Reuter:
Mr. Reuter asked Mrs. Schlagel what this matter entailed.
Mrs. Schlagel replied that the Board of Ed sent a Voucher
for the amount of $11,000. It
represented billing for this year and part of next year. However, since their account is billed based
upon commercial usage, there was no way I could sign it because no one will
know what the billings will be until the meters are read. I sent a letter in return, which is in the
communication packets stating why I couldn’t sign it. Then she called me and I again explained it
to her understanding.
9. FINANCIAL REPORT:
Cmsr. Reuter
moved a Resolution to approve the following bills for payment when the funds of
the Authority are sufficient to meet them.
Seconded by Cmsr.
Voucher 127 through 143 $21,234.48
Auto Debit (Health)
Payroll & Processing 5,271.00
__________
TOTAL: $26,505.48
On roll call all voted yes and the Chrm. declared this
Resolution adopted.
RESOLUTION
RESOLUTION REQUESTING FROM
THE REVENUE FUND TO THE OPERATING FUND BY THE WANAQUE BOROUGH SEWERAGE
AUTHORITY PURSUANT TO THE BOND RESOLUTION ENTITLED “RESOLUTION” PROVIDES FOR
THE ISSUANCE OF BONDS OF THE WANAQUE BOROUGH SEWERAGE AUTHORITY IN OCTOBER OF
1987 AS AMENDED OR SUPPLEMENTED THEREAFTER.
1. The Authority
hereby makes requisition to the Trustee for funds from the Revenue Fund
established under a Resolution to be transferred to the credit of a Special
Account in the name of the Authority to be paid to the
persons, firms or
corporations in the amount of $26,505.48 and for the purposes setforth herein
on that attache “Exhibit A”.
a. The Authority has
incurred the obligations in the stated amounts and that each item thereof was
properly incurred in the operating and maintaining the system and has not been
paid.
b. There has not
been filed with or served upon the corporation named in such requisition or if
any such lien, attachment or claim has been released and discharged by the
Authority.
On roll call all voted yes and the Chrm. declared this
Resolution adopted.
ADJOURNMENT:
Cmsr. Reuter moved
for the adjournment of this meeting. Seconded by Cmsr. Covelli,
On roll call all voted yes and the Chrm. declared this
meeting adjourned.
___________________________________
Andrew R. Bolduc, Chrm.