2018-02-12 Meeting to discuss Vader WaterMeeting to discuss Vader Water
February 12, 2018
11:01 a.m.
Present: Commissioner Fund, Commissioner Jackson, Commissioner Stamper, Glenn Carter, Arny Davis,
Erik Martin, Betsy Dillin, Ross Petersen
Recorder: Rieva Lester
Glenn Carter discussed a possible $80,000 bond to assist with
the Vader Water System.
Glenn said the city of Vader has an option through Dec. 16,
2023 to take back the Vader Water System. He said the city
would have to have two clean audits prior to taking it back. He
said the city also would have to show that it has the business
acumen and technical expertise to take it back.
Glenn said Roy Koegen of Kutak Rock is the county’s lawyer. He
said he is concerned that the bond document has no provision regarding the possible transfer back to
the city of Vader.
Arny Davis agreed that investors would need the information fully disclosed.
Glenn suggested phoning Marc Greenough of Foster Pepper to make sure the possibility of the transfer
is explicably recognized in the document.
Meeting ended at 11:17 a.m.
TO-DO LIST / RECAP
Glenn, Betsy, Erik, Ross and
Arny to contact bond counsel
Marc Greenough of Foster
Pepper.