March 20, 2007
Award of
Bond
The Board accepted the proposal of Lehman Brothers, New York, New York
at an effective interest rate of 4.1531961% (True Interest Cost method),
and the Board adopted a resolution to authorize issuance of $180,245,000
of Water Revenue Bonds, Series 2007, dated April 1, 2007.
Fund Account
The Board adopted a resolution to establish the 2007 Construction Fund
at Commerce Bank, in the name of Water District No. 1 of Johnson County,
with Michael Armstrong, General Manager, and Ronald Appletoft, Director
of Finance as authorized signers on this account, effective March 21,
2007.
Series 2007
Bond Construction Funds
The Board approved the investment of
approximately $147.5 million of the Series 2007 Bond construction fund
in a Guaranteed Investment Contract; and authorized the Director of
Finance to sign and execute the winning contract documents.
