NYW Board of Directors Meeting - 9/22/2023

Summary

The meeting of the New York City Municipal Water Finance Authority convenes with a quorum present. The board approves the minutes from the previous meeting and votes on the issuance of up to $850 million in fiscal 2024 bonds, which passes unanimously. They also ratify contracts with Amawalk and Carollo, adding a training fee. Finally, Jeff Werner is appointed as the new secretary. The meeting concludes with a unanimous vote to adjourn, highlighting a smooth and efficient governance process.

Takeaways

• 😀 The meeting of the New York City Municipal Water Finance Authority was called to order.
• 😀 A roll call was conducted, confirming a quorum with all members present.
• 😀 The minutes from the previous meeting were approved without any comments or corrections.
• 😀 The board approved the issuance of up to $850 million in fiscal 2024 series Aa bonds.
• 😀 The Finance Committee recommended the approval of the supplemental resolution for bond issuance.
• 😀 The authority's rate consultant contracts with Amawalk and Carollo were ratified with an additional training fee.
• 😀 No questions were raised regarding the ratification of the contracts.
• 😀 Jeff Werner was recommended and approved as the new secretary of the Authority.
• 😀 All board members voted in favor of appointing Jeff Werner and adopting the resolution.
• 😀 The meeting was adjourned with a unanimous vote from all board members.

Q & A

What is the main purpose of the meeting?

The meeting is called to order to discuss various agenda items of the Board of Directors of the New York City Municipal Water Finance Authority.

Who is responsible for taking the roll during the meeting?

Deborah is responsible for conducting the roll call.

What resolution was approved regarding the minutes of the last meeting?

The resolution approving the minutes of the Board's last meeting was unanimously approved.

How much is authorized for the issuance of the Authority's fiscal 2024 series Aa bonds?

The proposed supplemental resolution authorizes the issuance of up to $850 million of fiscal 2024 series Aa1, Aa2, and Aa3 bonds.

What committee reviewed the bond issuance proposal?

The Finance Committee reviewed the proposed bond issuance transaction.

What small change was made to the Authority's rate consultant contracts?

A fee was added for Amawalk to provide training to Carollo for the first year of the contract.

Who was appointed as the secretary of the Authority?

Jeff Werner was appointed as the secretary of the Authority.

What position did Jeff Werner hold before being appointed secretary?

Jeff Werner served as the assistant secretary to the Authority prior to his appointment.

How did the board vote on the appointment of the new secretary?

The board unanimously voted in favor of appointing Jeff Werner as secretary.

What was the final action taken at the meeting?

The meeting concluded with a unanimous vote to adjourn.