Kay County Justice Facilities Authority

Friday, June 27, 2008

Newkirk, Oklahoma



The Trustees of the Kay County Justice Facilities Authority (JFA) met in special session at 2:30 p.m., Friday, June 27, 2008, in the Commissioners Court of the Kay County Courthouse in Newkirk, Oklahoma.  Notice of the special meeting was posted for public information on June 25, 2008, at the Courthouse front door, Commissioners Court, and basement handicapped entrance of the Kay County Courthouse in Newkirk, Oklahoma.


Chairman Bruce Robinson called the meeting to order.  Those present were as follows:  Trustees – Vice-Chairman Carl Giddens; Darrel Grossardt; Everette Van Hoesen, Kay County Sheriff; Laile Wilson, Kay County Commissioner; Wes Young; Attorney David Cummings; Brent Clark; Paul Smith, Financial Advisor; Tom Thompson, D.A. Davidson & Co.; Sharon Rowen, Ponca City News; Tammy Reese, Kay County Clerk/Secretary (see sign-in sheet).  Norris Frederick and Jim Stieber were absent.


Motion made by Giddens and seconded by Young approving regular meeting minutes of June 6, 2008 and noting minutes of June 20, 2009.  Motion carried.


Attorney Brent Clark told the board they would need to be making some important decisions in the near future designating a Trustee Bank and a Depository Bank for services related to the issuance of the Authority’s obligations.


The following proposals submitted stating interests in serving as a Trustee Bank were:  BancFirst; Bank of Oklahoma; RCB Bank/Depository Bank:  BancFirst; Bank of Oklahoma; Eastman National Bank; Home National Bank; RCB Bank.


Charles Swinton, Senior Vice President of BancFirst, was present to speak on behalf of BancFirst.  He mentioned BancFirsts experience and said he would be honored to work with the JFA board.


Financial Advisor Paul Smith told the board the Trustee Bank would be easier to decide than the Depository Bank.  He said the Trustee Bank would basically come down to the costs; the Depository Bank would have a broader field of interests.


Attorney David Cummings told the board to take some time to study the submitted proposals.  Cummings mentioned a couple of important factors for the board to consider when making their choice for a Trustee Bank:  In-house people to deal with and a department dedicated to this type of work.









Chairman Robinson suggested having a sub committee to investigate the Financial Institutions.  Those members agreeing to serve on the “Finance Committee” were:  Chairman Robinson; Vice-Chairman Carl Giddens; Darrel Grossardt; Wes Young with David Cummings coordinating.


Three responses were received from surveyors for survey and initial analysis of potential site suitability and utilities upon criteria as recommended by AIP:  Gose & Associates; Smith & Oakes, Inc.: Stillwater Engineering and Consulting, Inc.


No presentation was made by Don Jones or Stan Lewis regarding site selection, site plans, design, construction, costs and utilization of new jail facility.


Report from Architect Liaison Committee:   Suggestion was made having Judge, District Attorney and Sheriff signing off on the architectural layout plan; storage; discussion was made regarding conference and visitation rooms.


Sub-Committee Report on Jail Repair Status:  Sheriff discussed jail escapees and plans on how to secure doors.


No report was given by the Jail Site Selection Committee.


Discussion was made about existing jail and its future use.  Sheriff Van Hoesen talked about how expensive it is to make transports to the different Detention Facilities due to the high cost of fuel. 


Grossardt said he would like to see the current jail converted to a Juvenile Detention Facility.


Cummings said that decision would be up to legislatures.


Paul Smith presented the board an Analysis of Funding Method/Sources booklet.  Smith guided the board through the book as he explained intensely a Summary of Funding Alternatives mentioning  Rated and Non-Rated Scales, Project Costs, Costs of Issuance, Underwriter’s Discount, Original Issue Discount, Debt Service Reserve, Capitalized Interest, Bond/Note Size,  Aggregate Net Debt Service, etc.


Underwriter Tommy Thompson spoke about bond markets and bond rates.


Much discussion took place and many questions were asked and answered.








Unscheduled public appearances:  Newkirk Citizen Pat Branch asked the board if there would be discussion of utilities for the new jail.  She was told a meeting would be scheduled with the City of Newkirk to address these issues.


There being no other business, motion was made by Van Hoesen and seconded by Grossardt to adjourn (3:48 p.m.).  Motion carried.










Approved this 11th day of July, 2008.







                                                                             Bruce Robinson, Chairman







Tammy Reese, County Clerk

County of Kay, State of Oklahoma

Secretary, Kay County Justice Facilities Authority