St. Lucie West Services District Regular Board Meeting Minutes October 2, 2018, at 9:00 a.m.
450 SW Utility Drive Port St. Lucie, Florida 34986

(Please note: This is not verbatim. A CD recording  of the Regular Board Meeting is available  on file.)

Board Members Present

Vincent D'Amico, Chairman Gregg Ney, Vice Chairman Wayne Smith, Secretary John Doughney, Supervisor Everett Child, Supervisor

Staff Present

Dennis Pickle, District Manager, St. Lucie West Services District ("SLWSD") Bill Hayden, Public Works Director/Assistant District Manager, SLWSD Josh Miller, Assistant Utilities Director, SLWSD
Maddie Maldonado, Office Manager, SLWSD Lisa Beans, Administrative Assistant, SLWSD Dan Harrell, District Counsel, Gonano & Harrell
Bob Lawson, District Engineer, ARCADIS-US, Inc.
Jason Pierman, District Treasurer, Special District Services, Inc. ("SOS") Laura Archer, Recording Secretary, SOS
Michael McElligott, SOS
Kevin Mulshine, MBS Capital Markets, LLC

Guests Present (Sign-In Sheet Attached)

Call to Order

Chairman D'Amico called the Regular Board Meeting to order at 9:00 a.m.

Pledge of Allegiance

Roll Call

It was noted that all 5 Supervisors were in attendance.

Approval of Minutes
September 10, 2018, Workshop
September 11, 2018, Regular Board Meeting

It was determined that the spelling of Patrick McCallister's name was correct.

A MOTION was made by Secretary Smith, seconded by Supervisor Doughney approving the Workshop Minutes of September 10, 2018, as presented, and the September 11, 2018, Regular Board Meeting Minutes, as presented. Upon being put to a vote, the MOTION carried 5 to 0.

Public Comment

There was no public comment.

District Attorney
DA 1 -  Status Report/Updates

Mr. Harrell had no updates at this time.

District Engineer
DE 1 - Status Report/Updates

Mr. Lawson advised regarding the 68 Control Structure Project that he had submitted the road closure plan for the week of Thanksgiving to the City and received no major comments. They will schedule a pre-construction meeting and expect the proposed contractor to begin work on October 22, 2018. Substantial completion is expected within 90 to 120 days.

That concluded Mr. Lawson's updates.

District Manager Action Items

DM  1  -	Consider Approval of Supplement to Investment Banking Agreement

Mr. Pickle then introduced Kevin Mulshine of MBS Capital Markets, LLC.

Mr. Mulshine handed out information regarding the District's outstanding bonds and indicated that he was seeking approval for the renewal of an old investment banking agreement for the Series 2014 Utility Revenue Refunding Bonds, reducing the interest rate to 3.3%, which would procure an aggregate annual savings of
$1,052,707.28 over the lifetime of the bond.

There were some brief comments thanking everyone for their work on these savings.

A MOTION was made by Vice Chairman Ney, seconded by Secretary Smith and passed unanimously approving the Supplement to Investment Banking Agreement, dated April 2, 2013, regarding the Stormwater Management Bond Issuances by St. Lucie West Services District with MBS Capital Markets, LLC, as presented.

DM 2 - Consider Approval of Resolution No. 2018-06 - First Amendment to Fourth Supplemental Trust Indenture Regarding the Series 2014 Revenue Bonds

Resolution No. 2018-06 was presented, entitled:

RESOLUTION NO. 2018--06

A RESOLUTION OF THE BOARD OF SUPERVISORS OF ST. LUCIE WEST SERVICES DISTRICT (THE "DISTRICT") APPROVING THE FORM OF AND AUTHORIZING THE EXECUTION AND DELIVERY OF A FIRST AMENDMENT TO FOURTH SUPPLEMENTAL TRUST INDENTURE WHICH AMENDS A FOURTH SUPPLEMENTAL TRUST INDENTURE  PURSUANT TO WHICH THE DISTRICT ISSUED ITS $12,025,000 ST. LUCIE WEST SERVICES DISTRICT UTILITY REVENUE REFUNDING BONDS, SERIES 2014; AUTHORIZING THE EXECUTION AND DELIVERY OF A REPLACEMENT BOND; AUTHORIZING THE DISTRICT TO TAKE ALL ACTIONS AND TO EXECUTE AND DELIVER ALL DOCUMENTS, INSTRUMENTS AND CERTIFICATES NECESSARY IN CONNECTION WITH THE REISSUANCE OF THE SERIES 2014 BONDS; AND PROVIDING AN EFFECTIVE DATE.

It was explained that Resolution No. 2018-06 went hand in hand with the Supplement to Investment Banking Agreement, dated April 2, 2013. Approval was recommended.

A MOTION was made by Supervisor Child, seconded by Vice Chairman Ney and unanimously passed to adopt Resolution No. 2018-06, as presented.

DM 3 - Other Items/Updates

That concluded Mr. Pickle's updates.

Consent Agenda

Mr. Pickle presented Consent Agenda items CA 1 through CA 7.

CA 1 - Monthly Report on Public Works Department CA 2 - Monthly Report on Utilities Operations
CA 3 - Monthly Report on Capital Improvement Projects CA 4 - Monthly Report on Billing and Customer Service CA 5 - Financial Statements for August, 2018

CA 6 - Consider Approval to Transfer Funds for the R&R Requisition CA 7 - Surplus Items
There was some discussion regarding the total number of Meter Reading Exceptions, which were attributed to the meters being under water and excessive usage, which were confirmed due to high usage.

Another discussion ensued regarding the new meters and the fact that they can be "read" by driving by and the fact that they can be read even through water.

A MOTION was then made by Vice Chairman Ney, seconded by Supervisor Doughney and passed unanimously approving Consent Agenda items CA 1 through CA 7, as presented.

Supervisor Requests

Supervisor Child thanked Mr. Mulshine for his presentation and for the savings. Vice Chairman Ney agreed with Supervisor Child's comments.
There were no further Supervisor Requests.

Adjournment

There being no further items to be addressed, the Regular Board Meeting was adjourned at 9:25 a.m. There were no objections.

Regular Board Meeting Minutes Signature Page

Date Approved