Fayetteville public facilities board swears in two members, elects officers and schedules bond review

Fayetteville — The Fayetteville Public Facilities Board on a recorded virtual meeting sworn in two newly appointed members, elected officers to fill most board offices and authorized a process to recommend candidates to fill a remaining vacancy, while setting a tentative special meeting in late September to consider a bond refunding and new money issue for Butterfield Trail Village.

The actions on organization came during an agenda item titled “reorganization requirements,” when the board administered the oath of office to Charles Watson and Marjo Burke and then moved to select officers and address a single remaining vacancy on the five-member board.

The reorganization matters matter because the board is the local issuer for tax-exempt conduit bonds under the Arkansas Public Facilities Board Act and ordinances of the Fayetteville Board of Directors. Bond counsel said the board will need to be fully constituted and have officer authorization in place before it can consider a requested refunding of outstanding Butterfield Trail Village bonds and a proposed new-money financing.

At the meeting, Leslie Ferguson (board member) was elected secretary, Marjo Burke (board member and newly sworn member) was elected vice chair and Charles (Charlie) Watson (board member and newly sworn member) was elected treasurer. A motion to adopt a resolution authorizing a board member to prepare written recommendations of up to three candidates to present to the mayor for the board’s fifth seat passed. The board directed that the written recommendation be prepared and transmitted in a manner that complies with…