Minutes of the regular Brazos Mutual Domestic Water
Association
Date and time: Sunday, February 11, 2007 1:10 PM
Location: Rubel M residence
??? Downey, Albuquerque, NM
Attending: David S., Rubel M., Mike Valdez, Tom Petersen, Ron Stafford via
speakerphone
Tom Petersen Acting Secretary
David S. read the minutes from the January 7, 2007 meeting. The following
corrections were noted:
The word “sells” to be replaced by “sales”
The word “would” to be replaced by “would not”
The dates of following meeting to be February 11 and March 11
Tom Petersen was in attendance
Moved by Mike V to accept with corrections, second by Tom P. and passed 5-0.
David S. read the minutes from the January 23 meeting. The following
corrections were noted:
Tom Petersen was not in attendance
Moved by Rubel to be accepted with correction and second by Mike V. Passed
5-0
Next agenda item “Bills to be paid”
Note from Tom: Please correct as necessary, I could not keep up with all or
the exact numbers.
Check # Amount Purpose
1009 $8.02 Ron Stafford reimbursement for pump house keys
1013 $20.00 Public Regulatory Commission Late dues and fees
1014 $20.00 Public Regulatory Commission Late dues and fees
1015 $10.00 Public Regulatory Commission dues
1016 $41.74 Treazas (spelling?) for snowplowing
Other bills as per Carolyn’s notes
Terazas Invoice #3533 $36.60
Gross receipt tax by Feb 25
Service fee from ?? deducted from the account $4.14
Rubel moved to pay Terazas $36.60, second by David S and passed 5-0
Rubel moved to pay the $15K loan payment due Feb 28, second by Tom P, passed
5-0
Action Item: David, Ron, Carolyn and Tom to provide guidance on how the $15K
loan payment should and has traditionally been paid.
General discussion about finances followed and key point noted:
Smith Barney account has about $53K in it
What to do about the New Mexico Bank & Trust account
Rubel will pay the NM GRT along with the electric bill
How to deal with Gretchen’s estimate for bookkeeping / accounting ($5,000)
Move by Mike V to close the NM Bank & Trust account and move the funds to
the Community Bank account, second by Rubel, passed 5-0.
Ron has several issues that brought on discussions:
He is working on updates Articles of Incorporation for the board to review
A letter (e-mail?) from Ray L. about being the representative for our water
association on the NM rural water board Assoc..
Ron wants a Brazos water board member on the NM Rural Assoc.
Dave mention Ray’s contribution to the Brazos board has been minimal and we
should have a member from our board
Tom P. agreed along with Mike V. Day to day knowledge of the issues is
needed and Ray is no longer active in the Brazos
Ron will call Levi about his opinion on this matter
Rubel asked “Who has the time?”
What is required to be on the NM rural association
David will call Rick Bella for an opinion
Ron or Levi willing to take it on?
Tom Petersen moved:
Look at who, requirements, time commitments to represent Brazos water board
on the NM Rural water Association andrespond to Ray Leverage. The board will
take it up at the next meeting
Mike V second, passed 5-0
Several other points were brought up about what loan was what and the like.
Carolyn’s notes from 2/11/07
A discussion of loans, operating costs, and how to pay for a new well took
place with the following general numbers (not precise)
Loans all at 3%
Who Balance Payment Due date How long
State of NM Env. $128.5K $15K Jan 10 more years
State of NM Env. $ 87.7K $5.9K July 2021
State of NM Env. $ 25.6K $1.6K August 2025
Total $241.8K
Fixed Costs
Levi for operations $3600
Bookkeeping $4000
Loan Payments $23K
Electricity
Repairs
Total $34.5K estimate
Income
Dues $34.5K
Assessments $ 8K
Savings
Smith-Barney $53K
NM Bank & Trust
Community Bank
Ron moved to adjourn the meeting and second by Mike V, passed at 2:05 PM
Submitted by Tom Petersen February 15, 2007
Follow discussion is not part of the official minutes, so beyond this can be
deleted
Status Letter before next meeting
Taxes ( I assume back income taxes?)
Basis of operations
Investment funds
The $15K for the Feb loan has come from the $53K Smith Barney account
Saving / Checking round numbers
Smith Barney $53.7K
Smith Barney $ 6.4K
Community Bank $40 K
NM Bank & Trust ?
Savings about $100K
Income about $40K
Fixed Costs about $35K
Loans to pay off about $250K
Look into grants for new well
Rubel sent a letter to Marylyn Robinson about the property for the new well
Thanks for the posole Rubel
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