RIVER PLANTATION MUNICIPAL UTILITY DISTRICT BOARD MEETING MINUTES
August 9, 2007
DIRECTORS PRESENT: R.S. HARVILL Jr., R.R. SMITH, J.D. DILLON, T.D. Young
DIRECTORS ABSENT: MAX MAHAFFEY
OTHERS PRESENT: RICHARD RAMIREZ, DISTRICT MANAGER
The Special Board Of Directors Meeting was called to order at 4:01PM, with Mr. R.S. Harvill, Vice President presiding.
FIRST ORDER:CONSIDER/ADOPT PROPOSED DEBT SERVICE AND MAINTENANCE/OPERATIONS TAX RATES
The directors reviewed the attached 'Notice of Public Hearing on TAX Rate' that was calculated by Mr. J.R. Moore Jr., RPMUD's Tax Collector. The PROPOSED calculation for tax year 2007 for Debt Service was $0.1758 per $100.00 valuation (Which determined the amount needed to pay bond payments for the year 2007) The directors then discussed the Proposed rate for maintenance and operation tax. All directors were in agreement to set the rate at $0.1398 per $100.00 valuation, which keeps the total increase in combined tax dollars below the 8% increase Rollback amount.
Mr. Young made a motion to set and publish a Proposed debt service tax rate of $0.1758 /$100.00 valuation and a Proposed maintenance and operation tax rate of $0.1398/$100.00 valuation for tax year 2007, making the total proposed tax rate of $0.3156/$100.00 valuation for tax year 2007. Mr. Smith seconded the motion, which passed unanimously.
SECOND ORDER:SET DATE, TIME AND LOCATION TO CONDUCT PUBLIC HEARING AS REQUIRED BY WATER CODE SEC 49.236
After discussion Mr. Young made a motion that the 'Public Hearing On Tax Rate' be posted to take place at 4:00 PM August 23, 2007 in the River Plantation Operations Center at 610 River Plantation drive, Conroe TX 77302. Mr. Dillon seconded the motion, which passed unanimously.
There being no further business, Mr. Smith made a motion to adjourn the meeting with Mr. Dillon seconding the motion, which passed unanimously.
Mr. R.Harvill Jr., Vice-President, declared the meeting adjourned at 5:30 P.M.
ROBERT R. SMITH, SECRETARY