The Lake Apopka Natural Gas District (LANGD) Board of Directors approved a bond financial advisor and a bond attorney in unanimous separate votes, as well as reviewed the district’s fiscal year (FY) 2017 proposed budget at their Monday, August 22 meeting in the district’s Winter Garden headquarter.
The FY 2017 proposed budget represents $13,470,399 of operating and non-operating expenditures and $5,265,780 in capital expenditures.
No voting was done at the August 22 meeting on the budget. Instead, the Board of Directors was asked to review the proposed budget before next month’s meeting, when they would vote on it.
If FY 2017 budget is approved at the September meeting, the new budget will be implemented October 1.
The approved bond financial advisor is Larson Consulting Services from Orlando, for a $10,000 compensation fee plus documented reimbursement of out-of-pocket expenses no greater than $1,500, according to an agreement between the district and the consulting firm.
Michael D. Williams, a law partner at Akerman LLP in Orlando, was approved as the board’s new bond attorney. In an engagement letter to Clifton Addison, LANGD chief financial officer, Williams proposed a $15,000 compensation fee and a reimbursement of related costs to not exceed $500.
LANGD has yet to announce the Board of Directors’ September meeting date.
The Board of Directors convene monthly at LANGD’s headquarter, 1320 Winter Garden- Vineland Rd., Winter Garden.
Read the August 26 edition of The Apopka Chief for more details about the Board of Directors meeting.
