Public Utilities Revenue Bond Oversight Committee

MINUTES
SPECIAL MEETING

Monday, July 17, 2006
9:30 a.m. – 11:30 a.m.
1155 Market Street (between 7 & 8th Streets) 4th Floor
San Francisco, CA  94103

1. Call to Order and Roll Call 
   Chair Sunshine called the meeting to order at 9:35 am and all members were present.

2. Public Comment - Members of the public may address the RBOC on matters that are within the RBOC’s jurisdiction and are not on today’s agenda
   There were no comments.

3. Report from the Chair

4. Discussion and possible action concerning presentation by Bob Kuo and Larry Doyle (“Financial Consultants”) regarding their final report entitled “Review of Water System Improvement Program Expenditures Under PUC’s Commercial Paper Program”.  This item was continued from the May 1, 2006 and June 12, 2006 meetings.

   Mr. Kuo described the revisions to the report resulting from Mr. Sutter’s comments.  Mr. Sutter stated that he was still not satisfied with the methodology used but was not seeking further iterations of the report.  He indicated that the report contained a lot of useful information. He offered to develop a template using November 2005 WSIP as a baseline for future audits.  Ms. Brown expressed satisfaction with the report and moved to accept it.  Mr. Sweetland seconded the motion.  All members voted in favor of the motion, except Mr. Browne who abstained.  Mr. Browne explained that he was satisfied with the report but that he objected to the process to select the consultants.

5. Discussion and possible action regarding timeline and scope for securing future consulting services.

   Ms. Sunshine referred this item to the Contractive Working Group.  Ms. Sunshine reappointed members of the Contracting Subcommittee:  Mr. Brown as Chair, Mr. Browne and Mr. Sweetland.  Ms. Sunshine invited public comment and Mr. Kalman thanked the RBOC for its accomplishments to date.  He added that oversight of technical aspects of projects was lacking and that it warranted a review by an independent engineer.

6. Discussion and possible action regarding proposed agenda(s) for next meetings(s).

   Future agenda items discussed included:  approval of minutes, report from the Wastewater Working Group, discussion of information request policy, discussion by Mr. Irons of project staffing, contracts and change order process as well as the most recent quarterly report.

7. Adjournment