2026-10-13 - Oklahoma City Water Utilities Trust

00:23Yeah. As soon as the

00:27lights come

00:38>> [clears throat]

01:09>> It is shortly after 2:00 and I'd like to

01:11call to order the October 13th meeting

01:14of the Oklahoma City Water Utilities

01:16Trust. Next item on the agenda is the

01:18approval of the meeting of the minutes

01:20of the September 29th meeting. in your

01:23packet. Are there any questions or

01:24comments regarding the minutes? If not,

01:26is there a motion for approval?

01:33And it passes. Next up is a consent

01:35docket. There are a number of items on

01:36the consent docket. Uh request for

01:38proposals to be advertised, some

01:39contracts, some amendments and change

01:42orders. A lot of amendments and change

01:43orders. um ratification of payments and

01:48of course the always awaited resolution

01:50approving the regular meeting schedule

01:52for 27.

01:54That's big for big frame. Uh any

01:57questions about the consent document?

01:58Any items the trustes would like to pull

02:00for individual consideration or

02:01questions? Seeing none, is there a

02:02motion for approval?

02:13and it passes. There's uh nothing on the

02:16concurrence docket. There are two items

02:18on the uh uh emergency construction

02:21contract. The first one is an emergency

02:24sewer manhole and chamber rehabilitation

02:27along Park Avenue from Hudson to

02:29Broadway um down to Cole Cord uh in the

02:35amount of of 2.148 million. Are there

02:39any questions or comments regarding the

02:40emergency?

02:42Seeing none, is there a motion for

02:43approval?

02:49And it passes.

02:52The next item, item 5B, is another

02:54emergency. It's a uh

02:57uh ordering a contract of 4M trenching

03:00for an emergency 48 in water

03:02transmission repair Southeast 89th in

03:05Eastern Avenue in the amount of

03:06$244,575.

03:10questions regarding that emergency

03:12repair?

03:14Seeing none, is there a motion for

03:15approval?

03:20We have a motion and a second and it is

03:22approved.

03:25Now we're moving on to items for

03:26individual consideration. Plans and

03:27specifications to be advertised for bids

03:30project WTO222-1B

03:34various Draper water treatment plant

03:36improvements. Mr. running.

03:40>> Thank you, Mr. Chairman. We have uh

03:41Cameron Makitari here today to uh give

03:44us a short presentation on this project.

03:50>> Good afternoon, Mr. Chairman and

03:51Trustees. Uh my name is Com Mcari. I am

03:54the project manager for the utilities

03:56department. Uh thank you for the

03:58opportunity given to me to provide you a

04:00brief summary of uh upcoming uh

04:04improvements uh project at the river

04:07water treatment plant. The scope of this

04:09project includes five main components.

04:12The first one is large valve actuation.

04:14We are installing motorized actuators on

04:17large valves and connecting to the

04:18skater system. The second one is

04:21chemical feed system.

04:22>> How many?

04:23>> A total of 21 valves. Large valves. 21

04:26>> 21

04:27>> Yes. Uh the second one is a chemical

04:30feed system improvements and

04:32installation of the new uh chemical

04:35storage tank and and enclosure. The

04:38third one is a quot uh rehab of the

04:41backwash tank tanks at the raper. We

04:45have two elevated backwash tanks at the

04:47raper. They're not really they're

04:48already kind of in a bad shape. As part

04:50of this project, we are uh rehabbing

04:52those two tanks. Uh the fourth one is

04:56demolition of the presedimentation basin

04:59and site restoration. The existing

05:02presedmentation basin uh has been out of

05:05service for past few years. As part of

05:08this project, we are removing

05:10preedmentation basin. And the last one

05:13uh is replacement of the uh large valves

05:16at the vapor pipe gallery. Those valves

05:19are uh kind of uh are aging and couple

05:22of them are leaking. As part of this

05:24project again we are replacing those six

05:26valves. Uh the project duration for this

05:30project is 555 calendar calendar days.

05:34Uh together these improvements will help

05:36protect the plants infrastructure,

05:38improve operations and support continue

05:41continued reliable water treatment for

05:44Oklahoma City. Again uh thank you for

05:46your time and consideration. Uh I'll be

05:48more than happy to answer any questions.

05:51>> Any questions for Cameron on

05:52improvements?

05:54All right. Seeing none, is there a

05:55motion for approval?

05:56>> Thank you.

05:57>> Thank you, Cameron.

06:06And

06:08it passed.

06:11Uh item B is a resolution declaring the

06:14intent of the Oklahoma City Water

06:15Utilities Trust to expend certain funds

06:17in connection with certain water and

06:20wastewater uh system improvements with

06:23an with uh said expenditures to be

06:26reimbured from the proceeds of debt uh

06:29to be incurred by the Oklahoma City

06:31Water Utilities Trust. Um so what we're

06:34doing is lining out projects that we

06:35will be uh using our debt for

06:39essentially. Is that correct?

06:42>> Vanessa here.

06:42>> And Vanessa is going to give you an

06:44overview.

06:45>> All right.

06:45>> Yes. Good afternoon, chairman and

06:47trustees. Vanessa Agular. And a a brief

06:50overview of this resolution is this

06:53gives authorization for Aqua to identify

06:57certain projects that as we award and

07:00fund with cash proceeds that we would

07:04get have authorization from a future

07:06taxexempt financing. If Aquit needed to

07:10reimburse itself for those projects that

07:13were previously awarded and paid with

07:15cash, this establishes that

07:17authorization. So for the last three

07:19fiscal years, we've done an annual

07:22authorization which authorizes the

07:24reimbursement of said projects. In the

07:27exhibit that's attached, we include

07:29fiscal year 27 and fiscal year 28 as a a

07:34basis for projects that we would

07:36potentially authorize if necessary.

07:40Happy to answer any questions

07:42>> and this we've done this regularly in

07:44the past.

07:45>> Yes.

07:46>> Any questions on the resolution?

07:50Seeing none, is there a motion for the

07:51approval of the resolution?

08:00and it passes. Item C is a resolution

08:03authorizing improving the issuance of

08:05Oklahoma City water utilities systems

08:08utility system revenue refunding and

08:10improvement bonds in one or more series

08:12in an aggregate principal amount of not

08:14to exceed $375 million. Dennis why from

08:18PFM is here today. And uh before we go

08:20any further, we I do want to point out

08:22that this this vote will require four

08:24affirmative votes for passage.

08:27>> Thank you.

08:29You'll go to page three.

08:32Okay. So on the 18th I was here, the

08:35trustees approved preparations for the

08:39uh for documents and solicitation of

08:41underwriting services.

08:44We circulated a mini RFP to the firms in

08:47the approved pool for the city and then

08:50evaluated those responses. The

08:52underwriting team will consist of Morgan

08:54Stanley as the book runner and RBC is

08:57the co-manager. This transaction will

09:00fund approximately 125 million in

09:03outstanding commercial paper and raise

09:05approximately 235 million in new money

09:08for uh the water utility. The refunding

09:13of commercial paper restores capacity

09:16for appropriation and borrowing through

09:17the commercial paper program and the new

09:20money should bridge spending needs for

09:22the next 6 to 12 months.

09:25On the next page,

09:28so we have most definitely seen rates

09:31move higher over the last few months. uh

09:34and the FOMC raised the Fed funds rate

09:37by 25 basis points on September 16 to 4%

09:42and there is the expectation that a

09:44rates will continue to rise to fight

09:46inflation. The next Fed fund the next

09:49FOMC meeting is on October 2728 and I

09:53would expect to see a 25 basis point

09:55rise right after that. Couple of graphs

09:58to kind of show you what's happened in

09:59the market. Treasury rates a year ago

10:02were where the orange dotted line are is

10:06and then uh the blue the blue line is

10:10where rates were about a week ago. So we

10:12have seen quite a bit of movement upward

10:14in rates upwards of 100 basis points.

10:19To the right you'll see the uh AAA muni

10:22curve and the same thing has happened.

10:24rates have moved up substantially and I

10:28think we will continue to see these

10:29higher rates for for some time to come.

10:34This transaction though is not to refund

10:36bonds for savings. We are not taking

10:38bonds that have a current call date.

10:41They've rolled down the yield curve and

10:43we can save money by refunding them.

10:45We're doing this refunding of commercial

10:46paper and raising new money for dollars

10:50we need for spending capacity for major

10:54generational water projects such as the

10:56TOA and also the reliability and

10:59resiliency of the system.

11:03Quick look at our schedule. We had

11:04rating meetings yesterday. I'm glad to

11:07say they went were exceptional. We got

11:10really good feedback from them and it

11:12was positive feedback. Uh we double

11:15docketed today with trust and counsel.

11:17Hope to receive our ratings next week,

11:20price on November 17th and close on

11:23December 2nd and glad to answer any

11:25questions.

11:28>> Okay, while you're up here, this isn't

11:29directly related to the bond issue,

11:32>> but will the Feds really raise the

11:33interest rate less than two weeks before

11:35the midterm elections?

11:37>> That's a good question. I you know on

11:40the one hand it it would get a lot of

11:42push back from politicians but uh

11:46depending on what kind of inflation data

11:49we see they may have no choice.

11:52>> Thank you for not answering that

11:53question. [laughter]

11:55>> Tried to stay on the fence with that

11:57one.

11:59>> All right. Uh so getting back to the

12:02resolution that is before us. Are there

12:04any questions or comments regarding the

12:06resolution of the issuance of the debt?

12:09Again, it takes four affirmative votes

12:10for the resolution to or the resolution

12:13to pass. We have a motion and a second.

12:17All in favor indicate by voting.

12:23And it passes.

12:27Items from trustees. Anything this

12:29morning

12:30or this afternoon trustees?

12:33I do want to uh point out that Don

12:36Douglas, who is a very long-term member

12:39of the engineering community in Oklahoma

12:41City, he was involved in a lot of

12:43projects around the community outside of

12:45water utilities. He was the former uh

12:47water utilities trust independent

12:48engineer for a few years. passed away

12:52two weeks ago and at the age of 90 and

12:56Don was certainly a fixture in the

12:59Oklahoma City uh community, the Oklahoma

13:01City engineering community and uh he was

13:04a friend and he will be missed.

13:05>> He was colorful. He was a lot of fun and

13:08I enjoyed working with him.

13:14>> Mr. Brownie, General Manager reports.

13:16>> Thank you, Mr. Chairman. We have a

13:18couple of presentations coming up. First

13:19I I I would like to um comment on the

13:23hard work that the engineering team and

13:26the financial management team did

13:29preparing uh with PFM to put these

13:34bonds together, these proposed bond

13:37transactions together. Uh city council

13:41gave us an affirmative vote uh earlier

13:44today. So, we'll be moving forward uh

13:47with your concurrence this afternoon. Uh

13:50Dennis's schedule is pretty well

13:53defined. Uh and so we plan to move

13:57forward with this so that we can

13:58continue executing our capital uh plan

14:01as projected. So, I want to offer my uh

14:06most sincere thanks to the folks who

14:10work tirelessly to put this thing

14:12together. it it's a large sale of $360

14:16million

14:18not to exceed 375. So a lot of work went

14:21into this. Uh secondly, the the team who

14:25puts the agenda together which includes

14:27our trust group, engineering group,

14:30operations groups,

14:32uh financial management groups,

14:33everybody works tirelessly every two

14:36weeks to put this thing together so that

14:38we can um have your consideration so

14:41that we can continue to operate the

14:43utility. Uh Dennis did comment about

14:46some of the uh

14:49comments that we received from Moody's

14:51and Standard and Pores and you know

14:52they're their position is is that the

14:55utility is very well managed uh and

14:58that's one of the reasons why they're so

15:01confident in our organization. So you

15:04know thank you for your support and uh

15:09for your guidance along the way. So we

15:11appreciate all that. Uh we do have um I

15:15want to talk a minute about the uh water

15:17release from Canton. Uh I briefed you

15:20all on that release the last meeting. So

15:22the results uh turned out that we we

15:25captured a fair amount of the water even

15:27though the the riverbed was very dry and

15:30it was very hot. Uh Lake Hefner was just

15:34about 10 feet below full elevation and

15:37now we're at 6 and a half. Um, Draper is

15:40uh 6.3 feet down, which for this time of

15:43the year with the hot summer we've had

15:45uh not too bad. Um, Canton uh was at

15:49almost 2 feet below full pool. It's

15:51currently at 4.7, so it didn't take a

15:54huge hit. Of course, some of the rain

15:56they got in that area helped as well.

15:58Uh, Atoa is 4.4 feet down and McGee

16:02Creek is 5.1, but you know, we expect

16:04them to recover during the winter and

16:06spring rains. So we uh we ended up in

16:09pretty good shape. Uh right now the uh

16:12the the average daily flows are

16:14somewhere in the 110 to 115 million

16:17gallon range where previously uh we were

16:21around 150 a day. So we've dropped off

16:24significantly. So Heavner is pretty much

16:27stabilized because we're we're still

16:29getting about 40 million gallons a day

16:31in the canal and we're pulling out about

16:3340 million gallons a day from the lake

16:35and the cooler temperatures have lowered

16:36the evaporation rate. So we're pretty

16:39steady right now. So everything went as

16:41planned.

16:43We do have two uh presentations this

16:46afternoon. One on the South Canadian

16:48wastewater treatment plant uh status.

16:51Mary Grayson is here uh to give us a

16:53presentation on that project.

17:00Good afternoon, chairman and trustees.

17:02My name is Mary Grayson. I'm the current

17:05project manager over STO138, which is

17:08the South Canadian Wastewater Treatment

17:10Plant Improvements Project.

17:14Construction status, the engineer is

17:16STV, Inc. The contractor is Crossland

17:19Heavy Contractors.

17:21Construction cost is currently

17:22190,944,243.73

17:27as of change order number six. The

17:30expected contract completion date is

17:32October 15, 2027. Our current status as

17:36of August 31st, 2026

17:39in submitted progress payments is

17:42169,425,4387,

17:48which in terms of percentage is 89%

17:51in.78%

17:53in time completion.

17:56Look behind. So in the past 90 days,

17:58we've had some pretty exciting things

18:00happen at the South Canadian Wastewater

18:02Treatment Plant. We had our startup

18:05testing for all of our major process

18:07equipment. We commissioned our generator

18:10and electrical system. We commissioned

18:12and commenced operations of the new

18:14headworks grit removal system,

18:15irerration system, filter system, and

18:17disinfection system. And our chemical

18:20delivery occurred for all of our startup

18:22testing and our startup procedures. So,

18:26uh, plant seeding began on August 14th

18:30and we have continued to work through.

18:32We have daily calls discussing the

18:35progress of the facility and in the next

18:3790 days we look at finalizing the

18:39individual system performance testing

18:42for the filters disinfection and

18:43reeration systems moving to the new

18:46discharge permit performance start

18:48period finishing the site paving grading

18:51and ceasing the SPR plant operations and

18:54beginning decommission of the existing

18:56facility.

18:57>> So is the electrical service issues

18:59worked out? they are worked out and we

19:02everything has been operating as

19:03intended right now and we are currently

19:06meeting all of our permit requirements

19:09out of the new facility as of right now.

19:14So for the administration building where

19:16we left off at the last update was that

19:18the building was complete but not the

19:19electrical

19:21and we have recently installed all the

19:24furniture and November 4th they will be

19:26transitioning the SCADA to the new uh

19:28facility so they can begin monitoring

19:30out of that new administration building.

19:35The headworks we commissioned everything

19:38again on August 14th and it has been

19:41operating as intended.

19:43Same with the great vortex and wash

19:46building.

19:50The aeration basins I mean these are

19:53very impressive structures and it is

19:55exciting to finally see them operating.

19:58And then our clarifier and splitter

20:07and then our clarifiers.

20:09I'm just excited to see everything

20:11functioning and it's been the start of

20:13testing has been going very well.

20:16So to see things go from empty to full

20:19it's great to see this. We are working

20:22through our filter testing. This is one

20:23of the final pieces during the startup

20:25before we can transition over to the new

20:27outfall.

20:33and then our chlorine contact and

20:34disinfection. So, we had we started up

20:36our sodium bulfite um on-site generation

20:41on 916 and so we're working through that

20:4430-day test right now. But we are very

20:49excited about the progress that we've

20:50been making.

20:53primary electrical building.

20:57We've worked through all those

20:58electrical issues and everything's

21:00functioning the way that it should.

21:06I just thickener building.

21:11The biggest change here is the paving

21:14around the facility.

21:17Remind me what you're doing for

21:18decllorination. Obviously, you have

21:20thorning contacts. You're making sure

21:21you have time. But what are you doing

21:22for actual

21:23>> decoration?

21:26>> Yeah, it's onsite. On-site generation.

21:30>> You said

21:34>> Oh, sodium bulite.

21:36>> Okay. Thanks.

21:39>> Anything else? Thank you.

21:41>> Thank you, Mary. So, um just a note, uh

21:45this is the first um facility that we

21:49transitioned from chlorine gas to

21:51on-site liquid chlorine generation. So,

21:54it's going very well. So, that's a

21:57that's a positive. Also, uh the

22:00completion date of the project is is a

22:02year from now, but that's the the demo

22:05of the old facility. So, the new

22:06facility is just about fully tested and

22:10operational. So uh the phase two will be

22:14the demo and then the project will be

22:15completed.

22:17>> Great work by the team uh by the

22:19engineers and the contractors and then

22:22appreciate OG working with us as they

22:25identified issues and we got that work

22:26through. So I really appreciate everyone

22:28stepping up to that and just taking care

22:29of it and working through in

22:31partnership. So it's it's good project

22:34>> really big project. Uh, so it it it went

22:37it went fairly well considering all the

22:40challenges that we've had lately on on

22:43lead times for materials and equipment

22:45and just so many other things during

22:47these challenging times to to to

22:50construct facilities. So secondly, um

22:53Larry Hair is here to give us an update

22:56on the Atoka pipeline.

22:58>> Good afternoon everyone. Hopefully,

22:59we're getting some good rain to help add

23:01to that can release that we had about a

23:03month ago. Um, I'm going to be like a

23:07broken record in this um uh presentation

23:10because a lot of things you've seen

23:11before. A lot of things are still static

23:14as it stands now, but we're still

23:16working through some of these issues.

23:19Um, at the moment we have about 58.3

23:22miles of the pipeline in the ground. Uh

23:25we're also constructing the three pump

23:27stations and all the search facilities.

23:31Um on pump station O um which is kind of

23:34like the lynch pin for the second ATOA

23:36pipeline. Uh about 55% project

23:39completion.

23:41Uh here is uh what it looked like in

23:44August of this year. You can see the

23:46pump building is right here. I don't

23:47know if you can see my mouse.

23:49>> Okay, good. Uh because it's good to

23:51point at things. Um, here's the pump

23:54station building right here. Here is the

23:56balancing tank where all the water from

23:57the McGee Creek and the future Kaamichi

23:59pipeline will be going to to go up to

24:01Draper. Um, here is the compressor

24:03building as well as uh the location for

24:07the buried surge facility or surge

24:10tanks.

24:11In uh September 14th, we had a grass

24:14fire that was um burning next to the

24:18pump station. Um it was extremely dry.

24:21About 600 acres uh were burned and due

24:25to the fast quick quick thinking of wind

24:27construction with a bulldozer and a

24:29water truck, they were able to stop the

24:31progress of the fire uh short of

24:34encroaching upon the pump station site.

24:37Um I'd like to point out that uh this

24:39little thing right here is one of our

24:41surge tanks going in kind of like a

24:43couple of days after the fire was put

24:44out.

24:47Uh moving along the pipeline from uh

24:50pump station O to Colgate. Um here's

24:53that broken record right now. Everything

24:55is in the ground. We're just trying to

24:56reconcile final quantities and uh final

24:59punch list items.

25:02Uh 872 from Colgate to Stonewall. We are

25:07uh let's see we got 28,341

25:11feet of the pipe installed in that

25:13project and 48,000 pe feet of the pipe

25:16was uh delivered. So uh we're still

25:18expecting completion of March of next

25:20year.

25:22The Stonewall pump station is going

25:24along very well. Um we have the concrete

25:27foundations uh put in for the uh uh

25:30surge tank uh surge facil Oh, we're over

25:33here. search facilities, the new tank,

25:35and for the electrical substation.

25:39Um, here's an overview of what it looks

25:41like so far. Uh, the balancing tank, uh,

25:44goes right here. All of our buried surge

25:46tanks go right here. And here's kind of

25:48like the outline of the new pump

25:50station.

25:54From Stonewall to Ada, again, uh, we're

25:57uh, fully com uh, installed. We're

26:00working on the cathotic protection uh

26:03parts of it in order to protect the pipe

26:06from corrosion. So that's that's nearing

26:09completion as well. 874 again another

26:13broken record moment. It's all uh

26:16installed. We're just trying to

26:17reconcile the final quantities.

26:21The uh 876 from the Canadian River all

26:24the way to the Conway pump station uh is

26:2697% installed. Um, we're still expecting

26:30completion by July of next year.

26:35The Cona pump station, um, one of the

26:38other pump stations we're looking at is

26:40expected to be completed in March of

26:422028. Um, here's what it looks like, uh,

26:45under construction right now. Our new

26:48balancing tank, uh, going up here, new

26:50search facilities here. Here's where the

26:53pump station will lie. And here is a

26:55holding pond for pigging operations.

26:58Pigging is when we clean the pipe with a

27:00great big thing in order to get all the

27:03the junk out of it. [laughter]

27:07Uh here's what the pump station looked

27:09like as of June of this year. Um here's

27:12some of the intake pipes. Um the

27:14foundation's pretty much uh complete.

27:17We're just waiting on pumps and the

27:19interior piping to come into play. As of

27:23June of this year, here's what the uh

27:26balancing tank looked like. Um they're

27:28putting up the walls and the roof. And

27:30then as of a month ago, they finished

27:34erecting the walls and are now putting

27:35the protective uh concrete coating on

27:37the outside.

27:41Moving on uh from Cona to um like

27:45halfway between the Conway pump station

27:48and Mcome. Um, we're restoring the

27:52rightway and we're doing a hydrostatic

27:54testing plan. We're doing making sure

27:56that they uh pressure test the entire

27:59pipeline and it passes.

28:04878 from uh where 877 left off to the

28:08Mcome pump station. Uh the pipe delivery

28:11started in late August. Uh the clearing

28:13and grub grubbing is complete and all

28:15the land stripping and clearing is is

28:17complete and uh we're expecting

28:19completion on this project April of uh

28:222028.

28:26And then from the Mcome pump station to

28:29Lake Draper, uh we're expecting

28:31completion of May of 2028. uh the casing

28:34pipe uh began being delivered in June

28:37and the pre-trenching of the entire

28:40project is about 64%.

28:45And we also have the interim surge

28:47stations being done at the MCOME Ada and

28:50Colgate stations that will help mitigate

28:53surge um in the pump station locations

28:57that were skipping along the pipeline.

29:00So, a lot of work is being done at the

29:02Mcome pump station at the moment.

29:06The only project we have coming up next

29:08is the actual outfall structure at uh

29:12the Draper at Lake Draper

29:15and uh we're expecting to bid that in

29:17February of next year.

29:20So, thank you, Larry.

29:22>> You're welcome.

29:23>> Councilman Stones and I were able to go

29:25down and visit it just a month or so

29:27ago, two months ago, I guess. and uh got

29:30to see some of it firsthand as we were

29:32down there and it's it's uh it's

29:34impressive in the pictures, but it's

29:35really impressive in person the size of

29:38some of the the uh construction aspects

29:41we're working with. Any questions for

29:43Larry?

29:45>> Thank you, Larry. You know, when you put

29:47it in perspective, we you know, we we

29:49talk a lot about this project, but then

29:51when you see the pictures, I mean, each

29:53one of those pump stations is $und00

29:55million.

29:57um and and they're pretty impressive.

29:59Right now, we're working with the two uh

30:01energy providers to uh design and build

30:04their their substations so that we have

30:07appropriate power to operate those

30:09facilities. Um and then, you know, when

30:12this pipeline is put into service, uh

30:14the existing pipeline will be taken out

30:17of service and then we'll we'll inspect

30:19that and make appropriate repairs. But

30:22that that pipeline probably won't be

30:24used for a number of years once we put

30:27the the new pumps the new pipeline of

30:29pump stations will pump quite a bit more

30:32water than we're able to move currently.

30:35The current pipe is about 80 million

30:37gallons a day and we should be

30:39approaching about 100 million gallons a

30:42day with with the new pipeline. So

30:44that'll bring all of the water that's

30:45permitted at McGee Creek and and Atoa up

30:48to Oklahoma City. Right now, we're not

30:50able to move our entire permitted

30:52appropriation. So, it'll be a a a really

30:57good enhancement to the reliability and

31:01resiliency of our water supply here in

31:03Oklahoma City. And this is, you know, a

31:04multigenerational project. So, uh

31:09anyway, um thank you very much, Larry.

31:12Appreciate the, uh the update. And Mr.

31:16Chairman, that is all I have for today.

31:19>> That's about 90% of NBA arena costwise.

31:24Just just saying I'm not aware of any

31:26citizens to be heard. There's no further

31:28business before the trust. Therefore, we

31:30are adjourned.