DRAFT
BRAZOS MUTUAL
DOMESTIC WATER CONSUMERS ASSOCIATION, INC.
November 14, 2010 Meeting Minutes
Meeting was brought to order at 8:07 a.m. at Ron
StaffordŐs cabin, Brazos
Directors Present: Tom Petersen
Ron Stafford
Deej Banister
Rubel Martinez
Rex Sewell
Minutes of August 29, 2010 and October 10, 2010 meetings were
read. Rubel Martinez made a motion to accept the minutes as amended. Rex Sewell seconded the motion. The motion unanimously carried.
TreasurerŐs Report:
Rubel
Martinez presented the TreasurerŐs report.
Bills are
current.
The balance
in the Community Bank (CB) checking account as of 10/31/10 was $55,782.07.
Rubel
Martinez presented two available options for transferring our Smith Barney (SB)
accounts (currently invested in class A loaded fund, earning .06%--fee charged)
to Fidelity:
1.
Option
One:
a.
CDs at
.25% return (We would have to invest in a 1 year CD to receive a 1.0% return.)
2.
Option
Two:
a.
Janus
short-term T fund (JASBX), load adjusted returns:
i.
4.70%
for one year
ii.
6.05%
for three years
iii.
5.39%
for five years
iv.
4.61% for ten years
Discussion
followed.
Rex Sewell
made a motion to move SB accounts to a Fidelity Janus account pending access without
penalty, to leave a minimal amount of money in the CB checking account, and
transfer remaining balance to a Fidelity money market. Ron Stafford seconded the motion. The motion unanimously carried.
Rubel
Martinez will create the Fidelity accounts if there are no penalties for
access. Approximately $62,000.00
will be transferred from SB to a Janus account, approximately $45,000.00 transferred
from the CB to a Fidelity Money Market account, and approximately $10,000.00
will remain in CB checking.
The money
market account will be used as the BMDWCA, Inc. checking account.
Memberships:
The following transfer membership was received:
Laurel Carrier and Thomas Feilmeier, Tract 3-A, BLE, U3
Richard and Joleen Montoya, Lot 3, Block 5, BLE, U1
Scott and Patricia Eliason, Tract 1, U1, BLE, Lot C-9
Ron Stafford
made a motion to accept these transfer applicants into membership. Rex Sewell seconded. The motion unanimously carried.
Delinquencies:
Delinquent
water fees have been submitted to a collection agency:
Phase 1 (runs 6 to 8 weeks) yields 100% of what is collected.
Phase 2 yields 50% of what is collected.
The BMDWCA
contract with the agency runs for 24 months. As accounts become delinquent as outlined in our R/Rs, they
will be sent to collections.
Construction/Maintenance
Issues:
Well
maintenance is currently in good shape.
Ron Stafford
is to contact Levi Sandoval regarding the need to cleanout water tanks.
If necessary, this will be scheduled in next yearŐs maintenance. Tanks are cleaned approximately every
eight years.
Fire Hydrants:
Hydrant
maintenance/installation for DR 1759 across from CliffView and Spruce Lane has
been referred to the VFD. Ron
Stafford contacted Call-One to locate telephone lines. Material and labor costs will be paid
by the VFD.
Other:
Michelle Escobar, Realtor, requested a copy of the BMDWCAŐs email list. Discussion followed. The Board has had other requests for this email list from other organizations and distribution has not been made—often members have requested that their telephone numbers and email addresses not be released or published. Deej Banister made a motion to not distribute email addresses to organizations/agents at this time. Rex Sewell seconded. The motion unanimously carried.
Discussion was held regarding the PondŐs muddy conditions and electrical costs. Tom Petersen is to write a letter to Roger Shinnik, President, Home Owners Association, listing our life-safety issues, etc.
Payments for well house signs have been submitted.
The meeting adjourned at 9:12 a.m.
Respectfully submitted,
Deej Banister
Secretary