Loading...
HomeMy Public PortalAbout19821117 - Minutes - Board of Directors (BOD) % Meeting 82-25 0 MIDPENINSULA REGIONAL OPEN SPACE DISTRICT 375 DISTEL CIRCLE,SUITE D-1,LOS ALTOS,CALIFORNIA 94022 (415) 965-4717 SPECIAL MEETING BOARD OF DIRECTORS MINUTES NOVEMBER 17, 1982 I. ROLL CALL President Duffy called the meeting to order at 7:40 P.M. Members Present: Katherine Duffy, Barbara Green , Edward Shelley, Nonette Hanko, Daniel Wendin, Harry Turner, and Richard Bishop. Presonnel Present: Herbert Grench, Craig Britton, David Hansen, William Tannenbaum, Michael Foster, Stanley Norton, and Emma Johnson, II. WRITTEN COMMUNICATIONS E. Johnson stated the Board had received the following letters: a) a letter dated November 9 from John Finch, recommending that dogs be allowed on District preserves when accompanied by owners; b) a letter dated November 13 from Lois Hogle thanking the District for its hard work and devotion to open space; c) a letter dated November 17 from Peter Nelson suggesting dogs under control be allowed on District land, that owners of unruly dogs be cited, and that wildlife does not avoid trails used by dogs, accordinq to his observations. The letters concerning dogs were referred to the Dog Committee. III. ADOPTION OF AGENDA K. Duffy indicated the agenda was adopted by Board consensus. IV. ORAL COMMUNICATIONS R. Fisse, 20225 Skyline Boulevard, Woodside, suggested the District Directors or Rangers could conduct introduction to open space classes at local community colleges and include tours of the preserves. The President, with the Board's concurrence, stated the Board' s intention to follow up on the suggestion. V. OLD BUSINESS WITH ACTION REQUESTED 1 . Approval of Preliminary Official Statement for 1982 Note Issue H. Grench reviewed memorandum M-82-114, dated November 10, 1982. He noted that a draft of the Preliminary Official Statement dated November 12 had been sent to the Board, but that a revision dated November 16 had been partially reviewed by staff, two Board members, William Huck of Stone and Youngberg, and Carlo Fowler of Orrick, Herrington & Sutcliffe. He introduced Mr. Huck who reviewed the recommended, substantive changes to the earlier draft. Recommendations were: 1 ) increasing principal amount from $5.4 million to $6 million for funding of a reserve fund and yielding net proceeds of about $5.4 million; 2) more explicit language describing the District's obligation; 3) moving the first payment on notes to June of 1983; 4) changing language on funding of Reserve Fund so that the reserve requirement Herbert A Grench,General Manager Board of Directors:Katherine Duffy,Barbara Green,Nonette G.Hanko,Richard S.Bishop,Edward G Shelley,Harry A.Turner,Daniel G.Wendin Meeting 82-25 0 Page two will be the lesser of 8% of the original principal amount or six months' debt service; 5) adding the Board' s covenant to budget and appropriate money for debt service payments in a timely fashion; 6) adding a disclosure document in the risk section explaining the taxation process; 7) adding a debt section to insure noteholders that debt service coverage will not be diluted by future notes. Carlo Fowler recommended the Board review the Official Statement as it represents the District, Board policies , and viability of the community before the Board gives its final approval . S. Norton noted the Board will have to pass on the rate of interest on December 8 and to certify to the correctness of the document. H. Grench stated a second Due Diligence meeting had been set for November 22 to finish the review of the draft of the Statement, and the Board concurred in appointing its Treasurer, H. Turner, to be responsible in behalf of the Board to see that the draft is correct before it is returned to the Board for final approval at its regular meeting on December 8. Motion: R. Bishop moved to approve the Preliminary Official Statement in form with the substantive changes described by Mr. Huck and to delegate the Board Treasurer to follow further drafts and work with staff and advisors to pass judgement on the final version of the Official Statement. N. Hanko seconded the motion. The motion passed unanimously. 2. Monte Bello Open Space Preserve - Communications Facilities Policies E. Shelley announced he would abstain from this agenda item because of his association with one of the site lessees. W. Tannenhaum reviewed memorandum M-82-116 dated November 12, 1982 and noted that current leases are not standardized, but that standardization is one of the goals for management of the enterprise, along with stringent design, review and approval , increasing revenue, longer rental periods (10-25 year lease periods) , and maintenance requirements of the roads. H. Grench noted that new leases will go before the Board for approval , and recommended a tentative approval of continued leasing. He added that clarification of the Board's intention neither to phase out existing facilities nor to encourage new applications but to consider new applications on a case by case basis could be included in the language of the final reading. D. Wendin suggested preplanning and anticipation of future leasing site possibilities. H. Grench said it might be an Action Plan item. Motion: D. Wendin moved the Board tentatively adopt a policy of continued leasing of antenna sites existing on Black Mountain. Discussion: H. Turner noted that, while his employer is Stanford Univer- sity and a current tenant on one of the communication sites, he is not in conflict of interest because he is far enough removed in his responsi- bilities at Stanford, is not concerned about reactions of his employer concerning his vote, his judgement is not impaired by biases, and no specific financial interest is present. Insofar as the motion before the Board would affect Stanford University, he said he is not participa- ting and will abstain when the actual lease comes before the Board. The motion passed by the following vote: AYES: K. Duffy, D. Wendin, H. Turner, B. Green, N. Hanko, and R. Bishop NOES: None ABSTAIN: E . Shelley Meeting 82-25 0 Page three H. Turner requested the record show that he abstained to the extent that the motion affects Stanford and was not to include participating as far as the Stanford tenant is concerned. VI. NEW BUSINESS WITH ACTION REQUESTED 1 . Scheduling of December Meetings H. Grench reviewed memorandum M-82-115 dated November 10, 1982. He recommended the Board cancel the meeting of December 22 and authorize the President to schedule a Special Meeting on December 14 or 16 if necessary. Motion: R. Bishop moved the Board cancel the December 22 Regular Meeting and authorize the President to schedule a Special Meeting if necessary on December 14 or 16. H. Turner seconded the motion. Motion to Amend: D. Wendin moved to strike the two dates (December 14 and 16) from the motion, so that the Board cancels the meeting of December 22 and presents the authority to the President to reschedule or call a special meeting if necessary. K. Duffy seconded the motion. The motion passed on the following vote: AYES: K. Duffy, B. Green, D. Wendin, and N. Hanko NOES: H. Turner, R. Bishop, and E. Shelley The original motion as amended passed unanimously. VII. OLD BUSINESS WITH ACTION REQUESTED 1 . Plans for Distribution of All Site Brochure H. Grench, referring to memorandum M-82-117 dated November 4, 1982, reported tb2t th� first ?rin�in� of 7500 Al Site R68,h, sme*yedted to be com�leted wi hin ten work ng day . He said about 3 wifTsbei al e to the Open pace mailing list, 2000 to various libraries and public institutions , and 2000 will be distributed by the office personnel and rangers in answer to requests. He anticipated a revision and additional printing in the spring of 1983. He added that Peninsula Open Space Trust will be mailing the Tenth Anniversary Progress Report early in 1983 to every household in the District, and it will contain a large map of the District sites. Discussion centered around content review and approval by the Board. Motion: H. Turner moved the President establish a committee to review the Progress Report text and to report findings and recommendations to the Board for its final approval . B. Green seconded the motion. Discussion: H. Grench noted staff would draft the Progress Report, meet with the new Committee, and make any changes the Committee recommends. The motion passed by the following vote: AYES: K. Duffy, B. Green, D. Wendin, R. Bishop, N. Hanko and H. Turner NOES: E. Shelley VIII. INFORMATIONAL REPORTS C. Britton reported the lessee of the Christmas Tree Farm, The Investment Corporation of Philadelphia, is being dissolved and the assets transferred to the Estate of William Wasserman. He said Board concurrence was being sought to the assignment of the lease to the new name. Motion: B. Green moved the Board authorize the President to sign a consent to transfer the lease to the Estate of William Wasserman. E. Shelley seconded the motion. The motion passed unanimously. Meeting 82-25 Page four C. Britton also noted the Town of Los Gatos had approved the P.M. & Associates property within Manzanita Ridge Open Space Preserve as a legal building site. D. Hansen reported a representative from MROSD will be attending a meeting concerning mounted patrols as suggested by H. Haeussler in his letter of November 10, 1982. H. Grench announced the Murray Ranch in San Mateo County has been assigned to the State Park System. N. Hanko questioned staff concerning the availability of firewood from the preserves. D. Hansen stated he expects to make an announcement in December that some is available. H. Turner reported the Windy Hill Trails Project Committee had raised $64,000 ($14,000 more than the original goal ) , and work had begun on the trail . B. Green said the City of Sunnyvale is cooperating on the Sunnyvale portion of the Bayfront Trail and noted D. Woods and Don .Weden had worked on getting it re-activated. D. Wendin questioned when the District would get responsibility for Black Mountain Trail . C. Britton explained that the parcel had not been given to Hidden Villa and the District has the option to take responsibility immediately or wait until all of the area has been given to Hidden Villa. IX. CLAIMS Motion: E. Shelley moved the approval of Revised Claims 82-22, dated November 17, 1982. R. Bishop seconded the motion. The motion passed unanimously. X. CLOSED SESSION The Board recessed to Closed Session on land negotiations and litigation matters at 9:30 P.M. XI. ADJOURNMENT The Board reconvened to adjourn the meeting at 10:40 P.M. Emma Johnson Secretary