Minutes July 20, 2009

<body topmargin=0 leftmargin=0 marginheight=0 marginwidth=0> <table cellpadding=0 cellspacing=0 border=0><tr> <td valign="top" colspan=2 height=125 BGCOLOR="#996699" TEXT="#080000" bgproperties="fixed" background="1da467d1erlcll.gif"> <div> <FONT SIZE="5" COLOR="#FFFFFF" FACE="Arial" ><B>Cornerstones Municipal Utility District</B></FONT><B>     </B><B>|     </B><A HREF="index.htm" TARGET="_top" TITLE="Cornerstones Municipal Utility District"><U><B>home</B></U></A></div> <div> back to<B>  </B><A HREF="id27.htm" TARGET="_top" TITLE="Archived Minutes"><U><B>Archived Minutes</B></U></A></div> <div> </div> </td> </tr><tr> <td valign="top" width=190 BGCOLOR="#FFFFFF" TEXT="#080000"> <div> <A HREF="id190.htm" TARGET="_top" TITLE="Minutes January 19, 2004"><U>Minutes January 19, 2004</U></A></div> <div> <A HREF="id196.htm" TARGET="_top" TITLE="Minutes February 16, 2004"><U>Minutes February 16, 2004</U></A></div> <div> <A HREF="id197.htm" TARGET="_top" TITLE="Minutes March 15, 2004"><U>Minutes 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2011</U></A></div> <div> <A HREF="id398.htm" TARGET="_top" TITLE="Minutes December 19, 2011"><U>Minutes December 19, 2011</U></A></div> <DIV ALIGN="LEFT"></DIV> <div> <B><IMG SRC="21f46600.gif" border=0 width="70" height="96" ALIGN="BOTTOM" HSPACE="0" VSPACE="0"></B></div> </td> <td valign="top" height=355 BGCOLOR="#FFFFFF" TEXT="#080000"> <div> <B>CORNERSTONES MUNICIPAL UTILITY DISTRICT</B></div> <bR> <DIV ALIGN="LEFT"></DIV> <div> <B>Cornerstones Municipal Utility District</B></div> <div> Minutes of Meeting of Board of Directors</div> <div> July 20, 2009</div> <bR> <bR> <div>      The Board of Directors of Cornerstones Municipal Utility District (the “District”) met at 805 Hidden Canyon, Katy, Harris County, Texas at 7:00 p.m. on July 20, 2009, in accordance with the duly posted notice of said meeting, with a quorum of Directors present as follows:</div> <bR> <div> Tony Garza, President</div> <div> Gary Hughes, Vice President  </div> <div> John Irwin, Secretary </div> <bR> <div> And being absent: </div> <bR> <div> E.C. Norris, Assistant Secretary</div> <div> Darryl Box, Investment Officer</div> <bR> <bR> <div> Also present were Kathie Naumow, Recording Secretary; Terry Holland of Myrtle Cruz, Inc.; Dusty Lane of SouthWest Water Company; Eric Comeau of Bob Leared Interests; Marvin Zahradnik of Landev Engineers, Inc.; Mark Brooks of Young & Brooks and Noah Worley of DHK Development, Inc.</div> <div>  </div> <div> The meeting was called to order at 7:05 p.m. and declared open for such business as might come before it.</div> <bR> <div> <B><U>1.  APPROVE MINUTES OF PRIOR MEETINGS;</U></B></div> <bR> <div>      After discussion, upon motion duly made, seconded and unanimously carried, the Meeting Minutes of the June 15, 2009 meeting were approved pending corrections.</div> <bR> <div>  </div> <div> <B><U>2.  QUESTIONS/COMMENTS FROM THE PUBLIC;</U></B></div> <bR> <div>      N/A</div> <bR> <div> <B><U>3.  CONSIDER CONSULTANTS' REPORTS, AS NEEDED;</U></B></div> <div> <B><U>a.  TAX ASSESSOR/COLLECTOR'S REPORT,</U></B></div> <bR> <div>      Eric Comeau of Bob Leared Interests, the District's Tax Assessor/Collector, presented the Tax Assessor/Collector report to the Board.  Taxes Receivable 8/31/2008: $26,557.41, Reserve for Uncollectable's $1,539.88; Adjustments $14,798.21.  Original 2008 Tax Levy: $1,090,108.87, Adjustments $85,961.11.  Total Taxes Receivable: $1,215,885.72.  Prior Years Taxes Collected $28,879.15; 2008 Taxes Collected $1,165,486.61.  Taxes Receivable at 6/30/2009: $21,519.96.  2008 Receivables: Debt Service $5,570.19; Maintenance $5,013.18.  Month of 6/2009: Beginning Cash Balance $55,326.36; Total Receipts $11,286.26, Total Disbursements $27,363.79, Cash Balance at 6/30/2009 $39,248.83.  Total Disbursements for the month of July 2009: $14,688.08, Remaining Cash Balance $24,560.75.  The District is 99.999% collected for 1999, 100.00% collected for 2000, 99.978% collected for 2001 taxes, 99.998% for 2002 taxes, 99.979% for 2003 taxes, 99.948% for 2004, 99.842% for 2005, 99.764% for 2006, 99.638% for 2007 and 99.100% for 2008.  Eric presented to the Board a copy of the latest delinquent list and reported the 20% penalty will be added after 7/1/09.</div> <bR> <div> After discussion and upon motion duly made, seconded and unanimously carried, the Board approved the Tax Assessor/Collector's Report and payments of the tax bills presented and also approved the payment plan request.</div> <bR> <div> <B><U>b.  FINANCIAL ADVISOR,</U></B></div> <bR> <div> N/A</div> <bR> <div> <B><U>c.  OPERATOR'S REPORT,</U></B></div> <bR> <div> Dusty Lane of SouthWest Water Company, the District's Operator, reported on the Districts operations and facilities, and presented the June 2009 Operations Report.  Total Connections were 1502.  Meter Installations and Inspections for May 14 - June 13:  New Taps Installed - 0; Sewer Inspections Completed - 0; Builder Inspections completed - 0; Customer Service Inspections completed - 0; Net Rental Meter Change - 0.  The required 7 samples were taken during June 2009.  TCEQ Chemical Analysis: Metals 12/4/06; Radio-Chemicals 08/11/05; Volatile Organic Chemicals 8/11/05; Minerals 5/18/06; Trihalomethane Gasses (THMs) 8/30/2007 and Halocacetic Acids (HAAs) 8/30/2007.  Water Production: Pumped 40,404,000 at Water Plant #1, Total Supplied - 40,404,000, Daily Average - 1,346,800.  Subsidence Information: Estimated Number of Months Available - 11.08, Permit Months Remaining - 3, Percent of Permitted Production - 47.88.  Water Accountability is at 95.2 for 05/09/09-06/06/09 and 95.4 for the Four Month Average.  Total Operations Charges $26,672.60.  Actual work related costs - $18,210.00 for repairs.  Total Current Billing $82,771.16.  Total Aged Receivables $19,251.33.  Total Accounts Receivables $102,022.49.  Total Deposits for June 2009 $76,691.36.  Disconnects/Reconnects Income: $200.00.  Dusty reported on repairs made and presented the Board with a copy of the Cornerstones M.U.D. Delinquent List and the Discharge Monitoring Reports.  Everyone has been duly notified of situation and it is being addressed.  Cornerstones Apartments are paying enough in order to keep from being disconnected.  Upon motion duly made, seconded and unanimously carried, the Board approved the operator's report. </div> <bR> <div>      </div> <div> <B><U>d.  ENGINEER'S REPORT,</U></B></div> <bR> <div> Marvin Zahradnik of Landev Engineers, Inc., the District's Engineer, presented the engineers report.  Briarchester sink hole seems okay but they will continue to monitor.  They sent to the Board the drawings for the Family Educational Center.  They will review and send back comments of things that were left out for them to make adjustments.  Upon motion duly made, seconded and unanimously carried, the Board approved the Engineers report.</div> <bR> <div> <B><U>e.  BOOKKEEPER'S REPORT,</U></B></div> <bR> <div> Terry Holland of Myrtle Cruz, Inc., the District's Bookkeeper, presented the monthly report.  Debt Service Funds available July 20, 2009 - $1,320,764.14.  Total Debt Service Requirements for 2009: $1,294,820.00.  General Operating: Previous Cash Balance June 15, 2009 - $32,732.69, Total Deposits $125,155.32.  Beginning Cash Balance July 20, 2009 - $125,951.30.  General Operating Funds available July 20, 2009 - $2,542,063.01.  Terry included copies of the Debt Service Calculations for Yield Restriction Report, Cornerstones Energy Report, the Cinco Regional WWTP Improvements Report, Cornerstones MUD Budget for Fiscal Year Ending September 30, 2009, the Investment Report, the Deposit/Collateral Report by District and the Tex Pool Performance sheet.  A rough draft of the budget was also included for the Boards review.</div> <bR> <div> After discussion, upon motion duly made, seconded and unanimously carried, the Board approved the Bookkeepers report and payment of said bills and ordered checks issued on the appropriate District accounts in payment thereof.</div> <bR> <div> <B><U>4.  CONDUCT HEARING ON TERMINATION OF WATER AND SEWER SERVICE;</U></B></div> <bR> <div> The Board conducted a hearing on the termination of utility service.  The Operator presented a list of delinquent utility accounts that were delinquent by more than 60 days and reported that the customers have been given written notice 10 days prior to this meeting and the opportunity to appear before the Board of Directors to explain, contest or correct the utility service bill and to show reason why the utility service should not be terminated for nonpayment.  None of the customers on the list were present or have presented any statement on the matter.  </div> <bR> <div> After discussion, upon motion duly made, seconded and unanimously carried, the Board authorized the Operator to terminate utility service to the unpaid accounts in accordance with standard procedures.</div> <bR> <div> <B><U>5. AUTHORIZE ANY NECESSARY ACTIONS IN CONNECTION WITH ESPLANADE METERS;</U></B></div> <bR> <div> John Irwin received a call from Junction Landscape reporting a meter on Highland Knolls was pulled and could not water.  The Board discussed talking to Memorial MUD to see if they would like to share the cost of irrigation in the four esplanades along Mason Road.</div> <bR> <div> After discussion, upon motion duly made, seconded and unanimously carried, the Board authorized reinstalling the meter on Highland Knolls and for it to be reissued under Cornerstones MUD name and have Junction Landscape check to make sure they are working. </div> <bR> <div> <B><U>6.  CINCO REGIONAL OPERATING COMMITTEE REPORT;</U></B>     </div> <bR> <div>  </div> <div>      Tony Garza updated the Board on plans for an overhaul of the clarifiers at the plant.  They will give us two to three years to save up for our portion of the cost.  Also reported the main trunk section needs to be TV'd and possibly replaced or repaired.  Our share of the cost would be $780,000.00 to $900,000.00.  Mark Brooks will send a copy of the agreement to the Board.  </div> <bR> <div> <B><U>7. AUTHORIZE ANY NECESSARY ACTIONS WITH RESPECT TO GREENBELT TRACTS; AND</U></B></div> <bR> <div>      John Irwin reported the trees need to be trimmed.  This could be done in the Fall.</div> <bR> <div> <B><U>8.  PENDING BUSINESS;</U></B></div> <bR> <div>      Mark Brooks informed the Board he will not be able to attend the August meeting.</div> <bR> <div>      After concluding and there being no further business to come before the Board, the meeting was adjourned at 7:56 p.m.</div> <bR> <bR> <bR> <div>                                                                                                                   _______________________________</div> <div>                                                                                                                   Secretary</div> <bR> <div> Attachments:     Bookkeeper's Report</div> <bR> <bR> </td> </tr></table></body>