HomeMy WebLinkAbout07-20-2010 Regular Meeting 1-2•
Public Meeting Notice
Committee: Fairhope Airport Authority
Date & Time: Tuesday, July 20, 2010 at 4:30 p.m.
Place: Conference Room
161 North Section Street
Subject: See Posted Agenda
Notice must be stamped, dated and initialed before posted on
bulletin board.
POSTED
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Fairhope Airport Authority
Agenda -July 20, 2010
4:30 p.m. in the Mayor's Conference Room
City Hall-161 N. Section St., Fairhope, AL
• Approval of Minutes for June 15 , 2010 meeting
•
• Resolution to finalize negotiations with City regarding land parcels of old airport
• Treasurer's report
• Review and approval of FY2011 Budget
• Resolution to proceed with airport debt refinancing subject to mutual approval by
City Council
• New business
Schedule Of Future Meetings
(Note: Regular meetings are on the 3 rd Tuesday of each month at 4:30 p.m. in the
Mayor's Conference Room at City Hall, 161 N. Section St., Fairhope, AL.)
• Next regular meeting: Tuesday, August 17, 2010
The Fairhope Airport Authority met Tuesday, July 20, 2010, at 4:30 PM at the City
Administration Building, 161 N. Section Street.
Present: Chuck Zunk, Chairman. Mem bers: Rod Platt, Pam Caudill, Charlie Bassett,
Howard Hadley, and Dan Stankoski. Attorney: David Bagwell. Absent: Joe McEnerney.
Pandora Heathcoe, City Administrative Assistant took the minutes.
A motion was presented to add to the meeting acfenda to discuss the Teledyne lease
agreement. The motion was made by Rod Platt, 2n by Charlie Bassett and unanimously
carried.
The minutes of the June 15th meeting were considered and duly approved on motion by
1st Charlie Bassett, 2nd by Pam Caudill and unanimously carried.
Teledyne Lease Agreement -Discussion was presented concerning the Teledyne Lease
Agreement, a five year option, and the fact they turned in the request late.
Correction to Deed -Discussion was presented concerning a correction be made to the
deed to include ten (10) parcels that were omitted from the prior deed. Tut Wynne,
attorney for the City of Fairhope has it under review. The notary certification must also
be corrected on the documents. The motion was made to accept the corrected deed by
Rod Platt, 2nd by Charlie Bassett and unanimously carried.
Treasurer 's Report -Current financial statements were reviewed and discussed. The loan
refinancing was discussed; and should the financing go through the bank has requested
that the two checking accounts be moved to their financial institution.
Budget - A discussion was presented concerning expenses to include operating expenses
and Debt Services. The Revenue accounts for the airport were also discussed. The motion
to accept the FY2011 Budget as presented was made by Pam Caudill, 2nd by Rod Platt
and unanimously carried.
Resolution for Airport Debt -Chuck Zunk explained that RBC would be the financial
institution who will be handling the refinancing of the airport debt loan. It was discussed
that Rod Kanter, BABC law firm would represent the airport, Austin Ray would be used
by RBC; and the City of Fairhope would retain Preston Bolt, Hand-Arendall law firm. It
was also discussed that the new loan would save approximately $90,000 a year in
interest, and the amortization will not begin until 2013. Motion was presented to
authorize Chairman Zunk, with advice from Attorney David Bagwell, to execute a deal
with the bank contingent upon approval also by the City of Fairhope City Council.
Motion presented by 1st Rod Platt, 2nd by Howard Hadley and unanimously carried.
There being no further business, on motion to adjourn by 1st Rod Platt, 2nd by Howard
Hadley and unanimously carried, the meeting was duly adjourned at 5:30 PM.
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