HomeMy WebLinkAboutMinutes - Minutes - Industrial Development Authority - Meeting Date: 11/14/2018MINUTES OF SPECIAL MEETING
OF THE BOARD OF DIRECTORS OF
THE INDUSTMAL DEVELOPMENT AUTHORITY
OF THE CITY OF GLENDALE, ARIZONA
(November 14, 2018)
A Special Meeting of the Board of Directors of The Industrial Development
Authority of the City of Glendale, Arizona (the "Authority") was duly called and held at
4:00 p.m. on Wednesday, November 14, 2018, in the Economic Development Conference Room,
Suite 217, Glendale City Hall, 5850 West Glendale Avenue, Glendale, Arizona.
The following Directors of the Authority were present at the meeting: Howard A
McKenna, Robert L. Holmes, John Catledge and Miles Charles. Director Lyle IVtiller was
absent. Howard A IVlcKenna, President of the Authority, presided at the meeting and Robert L.
Holmes served as Secretary at the meeting.
Also present were William F. Wilder and John J. Fries, legal counsel to the
Authority; Jessi Pederson of the City of Glendale Economic Development Department; and Chi-is
Coffman, Layla Maroufldiam and Femanda Mufioz of Helping Hands for Single Moms.
The minutes of the Special Meeting of the Board of Directors of the Authority
held on August 16, 2018, were presented to the meeting and reviewed and discussed. Upon a
motion made by Mr. Holmes and seconded by Mr. Charles, the reading of the minutes was
waived and the minutes were approved and adopted by unanimous vote.
Next, the representatives of Helping Hands for Single Moms discussed the
fundraising and program activities of the organization and distributed materials showing the
scholarship recipients for the past year.
Next, Mr. Holmes, as Treasurer of the Authority, gave a financial report as of
October 31, 2018, which noted that the Authority had aggregate funds of $136,820.03.
Thereafter, upon a motion made by Mr. Charles and seconded by MJ-. Catledge, the financial
report was accepted as presented, a copy of which is included in the records of the Authority.
After discussion by the Board and upon a motion made by Mr. Catledge and
seconded by Mr. Holmes, the Board voted to fund a scholarship grant to Helping Hands for
Single Moms, in the amount of $20,000, conditioned upon scholarships being awarded only to
single mothers residing in Glendale or attending schools in Glendale.
Next, Mr. McKeima noted there was an invoice from Ryley Carlock &
Applewhite in the amount of $3,501.06. Thereafter, upon a motion made by Mr. Catledge and
seconded by Mr. Charles, the Board unanimously approved payment of this invoice.
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Next, an annual administrative fee for Midwestern University and establishing of
an Authority funded scholarship at Midwestern University was discussed, Mr. Wilder proposed
there be a $20,000 annual adniinistrative fee and in turn, the Authority would fund a $10,000
annual scholarship to be awarded and named, if desired, by Midwestern University. Mr. Wilder
advised this had been discussed with Midwestern Umversity and was acceptable. After
discussion, Mr. Wilder was instmcted to discuss the subject further with representatives of
Midwestern University and to draft a Memorandum of Understanding to be reviewed by the
Directors with Mi-. IVTcKenna being authorized to agree upon the final form of such.
Next, Mr. Wilder gave an update regarding the IRS examination of proceedings
for the Midwestern Series 2010 Bond issue and the People of Faith Royal Oaks 2016 Bond issue.
Next, Mr. McKenna announced that it was timely that the Authority Board elect
officers and he suggested a slate of Howard McKenna, President; Lyle Miller, John Catledge,
and Miles Charles, each as a Vice President; and Robert Holmes as Secretary Treasurer. After
discussion and upon a motion made by Mr. Holmes and seconded by Mr. Charles, the Board
voted unanimously in favor of the officer slate, as proposed.
Next, Mi-. McKenna announced that the Board was to consider designating and
appointing John J. Fries to be the statutory agent for the Authority in place of Mr. Wilder.
Mr. McKenna called upon MJ-. Wilder who advised that under the law, each Arizona corporation
(which the Authority is) is required to have a statutory or registered agent to receive service of
process. Mi-. Wilder advised that he had served as such since 1982, that going forward he would
be spending less time in the practice of law, and going foi-ward Mr. Fries would be handling
more of the Authority's work. Thereafter, upon a motion made by Mr. Holmes and seconded by
Mr. Charles, the Board voted unanimously to designate and appoint John J. Fries as the statutory
agent for the Authority in place of Mr. Wilder.
Next, Mr. McKenna called upon Mr. Wilder who advised that on a periodic basis,
the Authority Board was asked to adopt a Resolution authorizing each Director to be an
authorized signer for the Authority and authorizing each Director and members of the Ryley,
Carlock & Applewhite firm as authorized persons to conduct public hearings on behalf of the
Authority. Mr. Wilder presented the Directors a proposed foi-m of Resolution which, after
discussion and upon a motion made by Mr. Holmes and seconded by Mr. Charles, was
unanimously adopted, a copy thereof to be kept as part of permanent records of the Authority.
There being no further business, upon the motion of Mr. Holmes, duly seconded
by Mr. Charles, the meeting was adjourned at 5:05 p.m.
Robert L. Holmes, Secretary
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