Minutes of the Special Meeting Of the Board of Directors Arrowhead Metropolitan District November 14, 2016
A Special Meeting of the Board of Directors of the Arrowhead Metropolitan District, Eagle County, Colorado, was held on November 14, 2016, at 9:30 a.m., at the offices of Marchetti & Weaver, LLC, 28 Second Street, Suite 213, Edwards, Eagle County, Colorado, in accordance with the applicable statutes of the State of Colorado.
The following Directors were present and acting:
- Bob Rosen
- Chris Matlon
- Bob Shafer
The following Directors were absent and excused:
- Dick Bourret
- Thomas Svoboda
Also in attendance were:
- Jerry Hensel, Operations
- Tim Baker, Vail Resorts
- Jim Clancy, Vail Resorts
- Matt Jones, Marchetti & Weaver, LLC
Call To Order
The Special Meeting of the Board of Directors of Arrowhead Metropolitan District was called to order by Chairman Matlon on November 14, 2016, at 9:30 a.m. noting a quorum was present.
Consideration of Changes To the Agenda
The Board briefly reviewed the current interest rate market since the election and it was reported that the bond refunding net present value savings have been significantly reduced as interest rates have risen. The Board reviewed the pricing date and decided pushing back the pricing date until the market has stabilized was the best call. It was reported that the Standard & Poor’s reaffirmed bond rating is good for the next 60 days. The Board will table this discussion until the meeting scheduled for December 7th and review the current rates at that time.
By motion duly made and seconded it was unanimously
RESOLVED to enter into executive session at 10:00 a.m. pursuant to C.R.S. §24-6-402(4)(e), for the purpose of determining positions relative to matters that may be subject to negotiations, developing strategy for negotiations, and instructing negotiators.
The board adjourned from executive session at 11:00a.m.
There being no further business to come before the Board, by motion duly made and seconded it was unanimously.
RESOLVED to adjourn the Regular Meeting of the Arrowhead Metropolitan District Board of Directors this 14th day of November, 2016.
Secretary for the Meeting