Lake Catherine Water & Sewer Facility Board of Garland County

The Lake Catherine Water and Sewer Facility Board of Garland County met Tuesday, November 9th.  The following slides were part of the presentation.  Click on the picture to view a readable selection of each slide.


Slides as presented Tuesday evening

 Jim Hannon made it clear that this board has "nothing to do with the Diamondhead POA".  The reasons for this meeting are to impart the knowledge that we have of the impending sale of Riviera  to LCWSFB, and to satisfy a US department of Agriculture requirement for a public meeting.  We have applied for a loan from the US department of Agriculture Rural Development Program.

Also our purpose in life was started from Garland County Quorum Court under ordinance # 0-09-39 enacted on Sept. 14-2009 .  Which stated that Lake Catherine is created for the purpose of acquiring, constructing, and equipping waterworks & sewer facility to serve the area within, and near the county known as "The Diamondhead Community" and to finance and refinance  such facilities. 

Garland County Judge Williams has overseen the administration  of this board since its inception.  His successor will take office on January 1, 2011.

   

This agreement is also contingent on 1) LCWSFB assuming Riviera's contract for water at whole-sale prices. 2)  LCWSFB can assume Riviera's current licences with ADEQ (Arkansas Dept. of Environmental Quality) without any environmental changes or regulatory changes.  3) The USDA terms we are applying for include a fixed rate of 4.125% for 38 years.  4) Riviera's accounting firm would verify the financial information that has been provided.  5) LCWSFB would not be responsible for any of Riviera's financial liabilities.  6) A management agreement with Riviera's current employees would be in place. 

Jack Plumlee spoke regarding Riviera's reasons for selling.

All meetings will be open to the public.
Please read the "slides" for more information.

Notes submitted by Diane Porterfield