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Magnolia Public Schools

Minutes

Audit/Facilities Committee Meeting

Date and Time

Tuesday June 21, 2022 at 6:35 PM

Location

https://zoom.us/j/92205640153?pwd=cHNIWjlnY0dsQmxDTjZFa0pydzR0Zz09

 

Meeting ID: 922 0564 0153        Passcode: 013089
One tap mobile: +16699009128,,92205640153# US (San Jose)

Audit/Facilities Committee Members
Mr. Mekan Muhammedov, Chair
Ms. Diane Gonzalez
Dr. Umit Yapanel (alternate) 

CEO and Superintendent
Mr. Alfredo Rubalcava

Committee Members Present

D. Gonzalez (remote), M. Muhammedov (remote)

Committee Members Absent

None

I. Opening Items

A.

Call the Meeting to Order

M. Muhammedov called a meeting of the Audit/Facilities Committee of Magnolia Public Schools to order on Tuesday Jun 21, 2022 at 6:51 PM.

B.

Record Attendance and Guests

Refer to attendance information recorded above.

C.

Approval of Agenda

D. Gonzalez made a motion to approve the agenda as presented.
M. Muhammedov seconded the motion.
The committee VOTED unanimously to approve the motion.
Roll Call
D. Gonzalez
Aye
M. Muhammedov
Aye

D.

Public Comments

No public comments were made at this time.

II. Recommended Action Items

A.

Approval of AdHoc Committee to Evaluate and Approve Discrete Facilities Projects for MSA-1, MSA-Santa Ana & MSA-San Diego

P.Ontiveros, General Counsel & Director of Facilities, explained that there are various capital improvement projects that are in various stages of readiness to be implemented. He went over the various projects for MSA-1, Santa Ana and San Diego and provided an update for each item. The Ad Hoc Committee would serve to approve these discreet projects instead of convening to the full Board. Committee Members questions were addressed by staff.

 

M. Muhammedov made a motion to approve the appointment of an ad hoc committee of the MPS Board of Directors (the “MPS Board”) to review and approve capital improvement projects immediately after the appointment of an ad hoc committee through the MPS Board’s first regular meeting in August 2022. Staff further recommends that the Committee move that the MPS Board adopt the same.
D. Gonzalez seconded the motion.
The committee VOTED unanimously to approve the motion.
Roll Call
M. Muhammedov
Aye
D. Gonzalez
Aye

B.

Approval of CLI Capital as a Lender to Magnolia Educational & Research Foundation (MERF)

P.Ontiveros, General Counsel & Director of Facilities, stated that MPS started working with CLI Capital as a lender for certain current facilities projects. They were brought to MPS by Financial Advisor, John Buck. He said that overall he found them favorable to work with. He provided background of the work behind CLI Capital. Out of transparency it is being brought to the Committee and soon to the full Board to have record of possible approval of having CLI Capital as a lender for MPS. This will not obligate MPS to use them for every project and each transaction would be evaluated as its own merit.

M. Muhammedov made a motion to approve CLI Capital (“CLI”) as a lender to MPS and its affiliates for such projects and purposes as MPS’s CEO and Superintendent, CFO, and other C-Team staff members may deem necessary and appropriate and in the best interests of MPS and its affiliates. Staff further recommends that the Committee move that the MPS Board of Directors (the “MPS Board”) adopt the same.
D. Gonzalez seconded the motion.
The committee VOTED unanimously to approve the motion.
Roll Call
M. Muhammedov
Aye
D. Gonzalez
Aye

III. Closing Items

A.

Adjourn Meeting

There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 7:20 PM.

Respectfully Submitted,
M. Muhammedov