July 17, 2008 Board of Director Meeting Minutes

Board of Directors Wide

13150 West 72nd Avenue Arvada, Colorado 80005 303.424.2739

July 17, 2008

President Jim Whitfield called the July 17, 2008 meeting of the Board of Directors of Apex Park and Recreation District to order at 7:00 p.m. at the Apex Center, 13150 W. 72nd Avenue, Arvada, Colorado. Apex board members in attendance were: Jim Whitfield, Susan Miller, Lee Humrich and Jeff Glenn. Ken Harrell was absent. Apex participating staff members were Mike Miles, Executive Director, and Luann Levine, Recording Secretary.


MOTION: Director Humrich moved for the absence of Director Harrell to be excused due to advance notice to the board. Director Miller seconded. Motion passed unanimously.


MOTION: Director Miller moved for the approval of the Agenda as posted. Director Humrich seconded. Motion passed unanimously.

MOTION: Director Humrich moved for approval of the Minutes of June 19, 2008, as presented. Director Miller seconded. Motion passed unanimously.

PUBLIC INPUT – There was no public input


1. Apex Bonds Refunding
Gary Higbee, Chief Finance Officer explained to the board that we are discussing the refunding of our 1998 bonds. The board received information in their packet containing a memo from Mike Miles, Executive Director and Mr. Higbee, the refunding “Sources and Uses of Funds” report, the “General Obligation Refunding Bonds, Series 2008” calendar and the bond document “Distribution List”. Mr. Higbee introduced David Bell, Senior Vice President with Stifel, Nicolaus & Company, Inc., the District’s bond broker and financial advisor. Mr. Bell addressed the board and stated that he has worked with the district for many, many years. Mr. Bell explained that this process would issue new bonds, pay off the 1998 bonds and take advantage of low interest rates. The recommendation from staff is that the refunding bonds be issued as callable bonds five years from the date of issuance for flexibility purposes. Mr. Bell stated that the goal would be to close some time between September and November. Mr. Bell asked the board to decide the minimum level of cost savings, as a percentage of the refunding bonds that would be beneficial to taxpayers. Director Glenn asked about locking into rates before closing and Mr. Bell responded that it would not be possible to do that. Board discussion ensued concerning inflation, interest rates and how that will affect the bonds. Mr. Bell stated that this is a good time to borrow money and that refunding the 2008 bonds could save the taxpayers approximately 1 mil. Mr. Bell recommended that we not refund any bonds if it’s not economical. Board discussion continued concerning how saving this money now will affect future financial decisions. The board directed staff and Mr. Bell to move forward with preparing the documents for issuing the refunding of the 2008 bonds, making them callable in 5 years, if possible, and specify the net present value savings at a minimum of 4%. Mr. Bell stated that it will take about a month to get the documents together to bring back to the board for approval and the bonds would then be issued after September 1.

2. Apex Center Annual Shutdown
Mr. Miles stated that the upcoming Apex shutdown is an annual event that we do every year to thoroughly clean the facility. The aquatics area will shutdown for a longer period than usual, about 3 weeks, for resurfacing. In response to questions from the board Mr. Miles discussed the possibility of replacing the North Jeffco sign in the ice arena during shutdown but, due to the surface it is painted on and the preparation it may require, it may take longer than the week of shutdown to complete the project. Mr. Miles stated that we will have professional people come in to estimate what it will take to repaint it. Replacing this sign is one of our big objectives but we need to find out what it will take to get it done so it may not happen until next spring. Mr. Miles also stated that Justin Howe, Apex Building Engineer, has done an outstanding job monitoring the shutdown process, which has been critical in maintaining this facility in top condition.

3. Apex Center Light Project
Mr. Miles explained that the Apex Center Light Upgrade project is one that was discussed at the study session. Mr. Miles passed out a handout that details the project costs and potential savings. Board discussion ensued concerning the costs, savings and estimated pay back time periods. In response to board questions Mr. Miles stated that this project could be completed in the next 3 months. Not only will this save the District money but the new lighting it is actually better lighting. Mr. Miles mentioned that Arvada Hockey Association may be interested in contributing to this project as well. Justin Howe would coordinate the project.
MOTION: Director Humrich moved to go forward with the Apex Center light upgrades. Director Glenn seconded. Motion passed unanimously.

a) Harvest Festival Event – The Harvest Festival Parade will be Saturday, September 6. The District will have a float in the parade and the directors usually ride alongside the float on bikes. After discussion the directors agreed to ride bikes again this year. A month ago Ed Tomlinson, Parade Chairman, approached the District about organizing a run on the parade route prior to the start of the parade as a pre-parade event. Mr. Miles met with Mr. Tomlinson and discussed several options and the decision was made to offer the pre-parade event to the skateboarding community as a charity event and call it “Boarding for Beasts”. The optional $5 registration fee for participants and all proceeds from the sale of t-shirts will go to an animal shelter or charity. Also, all paid registrants will be eligible for a “prize drawing”. Apex will provide 4 people to help with the registration table the day of the event.
b) Stenger Project Status – The southeast quadrant drainage project has been completed. A French drain was installed to help alleviate the soggy field problems. The District paid for materials and the City provided labor.
c) North Jeffco Park/Fisher Pool Status – The irrigation design is being completed and then sod will be laid. Should be completed in about a month.
d) Long Lake Ranch Vandalism – Vandals entered the complex, even though the gates were locked, and drove cars on the grass fields causing damage to the sod.
e) Indian Tree Parking Lot Repairs/Water – The parking lot will be repaired on July 28 and 29 so parking will be limited. Farmers Highline Canal Senior Holder notified us that we will have a 50% cut in water.
f) Leisure Arts Center – When investigating shingle problems at the Leisure Arts Center it was discovered that the roof is in need of replacement.
g) Update on Flow Ride – A single ride costs about $600,000 and a double ride costs about $800,000. This price does not include site renovation. Hyland Hills said that it’s a good ride but needs resurfacing often.
h) Church update – Mr. Miles and President Whitfield met with Ralph Schell from Jefferson County about the church property. Mr. Schell said he would check into the option of the church buying the building back. He stated that it sounded reasonable and he would discuss the possibility with a few other people. If the deed stays with the County the District would have a long-term lease.
i) October Newsletter – Mr. Miles asked the board if they wanted an update on Fisher Pool to be in the next newsletter.
j) Annual Report – This is a very simplistic report, factual but very simple and readable.

Mr. Miles handed out additions to F/Y/I – An anonymous letter addressed to the board questioning the treatment of women golfers at Indian Tree Golf Course.
The 2nd quarter summary financial statements, which show the status of the budget as of the second quarter.

Director Humrich reported that he attended the City Capital Improvements Committee meeting. He suggested coordinating the Stenger parking lot and restroom project with Apex Park and Recreation to the committee but was not sure if that could be done. Their top priority right now is street improvement; Stenger was about 8 or 9 on the list.

Director Glenn commented that the North Jefferson Junior Baseball tournaments went very well and they were very complimentary to Apex Park and Recreation.

President Whitfield commented that the opening of the cardio/weight room at the Community Center went well.

Director Miller asked the other board members for ideas for sponsors for the Foundation Golf Tournament.

BREAK – At 8:20 p.m., President Whitfield called for a 10-minute break prior to resuming the board meeting in executive session.

MOTION: Director Glenn moved to go into executive session pursuant to §24-6-402(4)(e), C.R.S., to determine positions relative to matters that may be subject to negotiations; developing strategy for negotiations; and instructing negotiators. Director Humrich seconded. Motion passed unanimously.

The meeting resumed in executive session at 8:33 p.m.

MOTION: Director Humrich moved to go out of executive session. Director Glenn seconded. Motion passed unanimously.

The open meeting resumed at 9:09 p.m.

MOTION: Director Humrich moved that the meeting be adjourned. Director Glenn seconded. Motion passed unanimously.

President Whitfield adjourned the meeting at 9:11 p.m.

Respectfully submitted,
Luann Levine, Recording Secretary

Lee Humrich, Secretary/Treas