OSCEOLA COUNTY
BUILDING AUTHORITY
MINUTES
March 22, 2012
Chairperson
Booher called the meeting to order at 1:35 p.m. at the Osceola County Courthouse
in Reed City, Michigan.
Present: Chad Booher and Susan
Vander Pol
Absent: Gloria Eisenga
Others: Lori Leudeman, County Treasurer and
Bill Huss, Road Commission
Additions
or Deletions to the Agenda: Discuss Refinancing Road
Commission Building Bonds.
Motion by Vander Pol,
supported by Booher to approve the agenda as presented. Motion was unanimously
supported.
Public Comments: None.
Motion by Vander Pol, supported by Booher to approve
the minutes of March 18, 2011 as amended. Motion was unanimously supported.
Discussion was held on refinancing the building
bonds for the Road Commission buildings.
County Treasurer Lori Leudeman, Bill Huss of the Road Commission and
Susan Vander Pol, County Coordinator and Building Authority member
will be having a conference call with the County’s bond counsel, Dickinson
Wright, to discuss the options of refinancing and potential savings for the
Road Commission. Tom Enright of Leonard
Capital Markets has met with the Road Commissioners and feels there is adequate
savings to be realized with a reissuance.
There are different options available to finance, one through the
Building Authority and another through Osceola County. The options will be reviewed and
recommendations made to the Road Commissioners, County Board of Commissioners
and the Building Authority.
Payment of Claims for 2004
Series Bond Payment and Administration Fee for Road Commission Garages Projects
and LTGO Bond Payment to The Bank of New York Mellon –
Courthouse/Jail Renovations
Brief discussion was held on the bond payments. The following motion was made:
Motion
by Vander Pol, supported by Booher to pay the bond payment to The Bank of New
York Mellon in the amount of $ 148,496.88 ($ 75,000 principal & $ 73,496.88
interest) and the Administrative Fee as well as the October payment of
approximately $72,090.63 and the Administrative Fee as applicable; and the 1998
bond payment to The Bank of New York Mellon in the approximate amount of $ 15,687.50
(Interest) and the November payment of approximately $ 115,687.50 ($ 15,687.50
interest and $ 100,000.00 principle) or as amended and the Administrative
Fee. Motion was unanimously
supported.
Public Comments:
None.
The meeting adjourned at 2:16
p.m.
Respectfully submitted,
____________________________________ 
____
Chad Booher, Chairperson Susan
M. Vander Pol, Secretary
Osceola
County Coordinator