|Date/Time: 5/10/2018 -- 10:30 AM|
Tamarack Conference Center
One Tamarack Park
Beckley, WV 25801
|Purpose: PURPOSE: To consider and act upon all matters that may properly come before a meeting of the Parkways Authority Board. These matters may include discussion of and possible Board action on the following: Approval of the minutes of the April 5, 2018 Board Meeting; Design fees for Bridge Painting Project BP-3-19 for various bridges along the Turnpike; Tree Cutting Project TC-1-19; and Bridge Deck Replacement Projects BDR-1-20, BDR-2-20, BDR-3-20 and BDR-4-20; Renewal for the final year of the Bridge Facility Retrofit BFR-1-17 3-Year Contract; Equipment Budget for FY 2018/2019; Draft Operating Budget for FY 2018/2019; Replacement of the Tamarack Entrance Sign; Updating and amending the existing Interest Rate Exchange Policy (the Swap Policy) adopted July 10, 2008 by the Authority. In conjunction with the proposed issuance of new bonds in the second or third quarter of this calendar year, the Swap Policy will need to be updated and amended; Staff (in consultation with the Authoritys counsel and financial advisor) has prepared a multi-page draft of Frequently Asked Questions (the FAQ document) for the purpose of disseminating that information at or prior to the upcoming Public Meetings required before any final action on proposed toll policy changes (including the proposed new single fee discount program and the limited [one-time] early enrollment option thereunder, as well as proposed toll rate changes), proposed issuance of new bonds, and related matters. The draft FAQ document includes staffs recommendations on several operational details for possibly implementing these proposed changes (including the proposed new single fee discount program and the limited (one-time) early enrollment option that is part of that proposed program). The Authority members may review, ask questions about, and to the extent deemed appropriate take action with regard to, the draft FAQ document that is being presented including authorizing staff to continue the development and dissemination of the FAQ document; Clarify updates concerning (a) changes in bond market conditions that have taken place since adoption of the Resolution at the Authoritys April 5, 2018 meeting, resulting in recent and potential future increases in interest rates on bonds, and (b) recent experience in highway construction bid results and the potential impact on estimated project costs, and (c) other matters, that have a bearing on the sizing of the proposed bond sale. These updates will include information developed after appropriate analyses by the Authoritys financial advisor, Public Resources Advisory Group (PRAG) concerning these recent developments and the potential impact(s) on proposed bond sizing; Purchase of E-ZPass Transponders for Customer Service; Protective Bridge Deck Overlay Contract BDO-1-18 and The Kanawha City Community Association, Inc. has requested the cooperation of the Parkways Authority to allow installation of beautification improvements along West Virginia Route 61 in Kanawha City involving plantings and other related matters on the Parkways Authority right-of-way. Approval may be sought to cooperate with the Kanawha City Community Association, Inc. and its beautification efforts, provided that the appropriate agreements between that Association and the Parkways Authority can be prepared and that the circumstances are approved by the consulting engineers, HNTB and by Counsel. (The Authority Maintenance Division will agree to provide traffic control at the site); Other items which may become apparent or need attention and may be added to the business agenda of the meeting; attention is called to the fact that the agenda of the meeting will be available three days in advance by calling 304-926-1900 or at the website www.wvturnpike.com; items of business may be added to the agenda up to 48 hours prior to the date of the meeting.||Notes: |
This is a compliant meeting.
|Meeting was approved : 5/2/2018 4:17:01 PM|