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ccss 03-16-1981 20 SPECIAL MEETING OF THE SCHERTZ CITY COUNCIL MARCH 16, 1981 The Schertz City Council convened in Special Session, Monday, March 16, I I 1981 at 6:30 P.M. in the Conference Room of the Municipal Complex Building I i 1400 Live Oak Road with the following members present: Mayor Jack M. ~ Stomackin, presiding; Richard L. Howe; Jeff Duffield; Barbara Taylor; Earl W. Sawyer and Jacqueline Lawler. Staff Present were City Manager Jimmy G. Gilmore, City Financial Advisory Tom Anderlitch and City Secretary June G. Krause. #1 BID ACCEPTANCE: The Mayor introduced the item for consideration as being the acceptance of bids for the sale of $475,000 City of Schertz, Texas, Utility System Revenue Bonds, Series 1981. There was only one bid received on these bonds - Underwood Neuhaus of Houston bid an effective interest rate of 9.718363. Mr. Anderlitch advised that in his opinion this was a good bid, and the only option would be to wait and hope to get a better bid at a later date but with the market the way it has been lately, he doubted one would be received. His recommendation was to accept the Underwood-Neuhaus bid. At 7:02 P.M., the closing time for receiving bids, this was still the only bid received on this issue. Mr. Howe moved to accept the Underwood-Neuhaus bid for the sale of $475,000 City of Schertz, Texas, Utility System Revenue Bonds, Series 1981. Mrs. Lawler seconded the motion which carried with the following vote: AYES: Councilmembers Duffield, Taylor, Howe, Sawyer and Lawler NAYS: None ,,/1, \ ~> I ! \ I #2 BID ACCEPTANCE: The Mayor introduced for consideration the accept- ance of bids for the sale of $150,000 City of Schertz, Texas, Combination Tax and Junior Lien Revenue Certificates of Obligation, Series 1981. There were three bids received on this issue as follows: --' A. Schertz Bank & Trust, effective interest rate of 10% B. Underwood Neuhaus, effective interest rate of 9.871714% C. Texas State Securities, effective interest rate of 9.992% Mr. Anderlitch again said they were all good bids and he recommended accept- ing the Underwood Neuhaus bid. Mr. Sawyer moved to accept the Underwood Neuhaus bid with an effective interest rate of 9.8717l4% for the sale of $150,000 City of Schertz, Texas, Combination Tax and Junior Lien Revenue Certificates of Obligation, Series 1981. Mrs. Lawler seconded the motion which carried with the following vote: <1,\ , If . AYES: Councilmembers Duffield, Taylor, Howe, Sawyer and Lawler NAYS: None ,.--, ! ~A 21 #3 ORDINANCE: The Mayor introduced an ordinance as an emergency measure with'the caption being read as follows: 1--; AN ORDINANCE ....... I BY THE CITY COUNCIL OF THE CITY OF SCHERTZ, TEXAS, AUTHORIZING THE ISSUANCE OF $475,000 PRINCIPAL AMOUNT OF SPECIAL OBLIGATION BONDS OF THE CITY OF SCHERTZ TO BE KNOWN AS "$475,000 CITY OF SCHERTZ, TEXAS, UTILITY SYSTEM REVENUE BONDS, SERIES 198111 FOR THE PURPOSE OF SECURING FUNDS TO BE USED TO IMPROVE AND EXTEND THE WATERWORKS SYSTEM OF SAID CITY; PRESCRIBING THE WATERWORKS SYSTEM OF SAID CITY; PRESCRIBING THE MATURITIES OF SAID BONDS AND THE INTEREST RATES; PLEDGING THE NET REVENUES OF THE CITY'S COMBINED WATERWORKS AND SANITARY SEWER SYSTEMS TO PAY THE PRINCIPAL OF AND INTEREST ON SAID BONDS; PROVIDING THAT IN THE EVENT OF A LATER ACQUISITION OF AN ELECTRIC LIGHT AND POWER SYSTEM AND/OR A NATURAL GAS SYSTEM, SAID BONDS, THE PREVIOUSLY ISSUED BONDS, AND ANY OR ALL REVENUE BONDS ISSUED FOR THE PURPOSE OF ACQUIRING ANY SUCH SYSTEM (EITHER OR BOTH), SHALL BE PAYABLE FROM AND EQUALLY SECURED BY A FIRST LIEN ON AND PLEDGE OF THE NET REVENUES OF THE CITY'S COMBINED WATER WORKS, SANITARY SEWER, ELECTRIC LIGHT AND POWER AND/OR NATURAL GAS SYSTEMS; PROVIDING THAT, SAID BONDS SHALL OCCUpy A POSITION OF PARITY AND EQUAL DIGNITY WITH THE OUTSTANDING CITY OF SCHERTZ, TEXAS, UTILITY SYSTEM REVENUE BONDS, SERIES 1975, DATED MARCH l, 1975; THE CITY OF SCHERTZ, TEXAS, UTILITY SYSTEM REVENUE BONDS, SERIES 1973, DATED APRIL 1, 1973, AND THE OUTSTANDING CITY OF SCHERTZ, TEXAS, UTILITY SYSTEM REVENUE BONDS, SERIES 1968, DATED MARCH 1,1968; PROVIDING FOR ADDITIONAL PARITY BONDS; PROVIDING THAT THE HOLDER OR HOLDERS OF SAID BONDS SHALL NEVER HAVE THE RIGHT TO DEMAND PAYMENT OF SAID BONDS OUT OF ANY FUNDS RAISED, OR TO BE RAISED, BY TAXATION; CONFIRMING THE SALE OF SAID BONDS; DECLARING AN EMERGENCY; AND MAKING CERTIAN FINDINGS AND COVENANTS AND ENACTING OTHER PROVISIONS INCIDENT AND RELATING TO THE SUBJECT AND PURPOSE OF THIS ORDINANCE. Mr. Sawyer moved this ordinance authorizing the issuance and confirming the sale of $475,000 City of Schertz, Texas, Utility System Revenue Bonds, Series 1981, be passed as an emergency measure. Mrs. Lawler seconded the motion, which carried with the following vote: AYES: Councilmembers Duffield, Taylor, Howe, Sawyer and Lawler NAYS: None >), )' #4 RESOLUTION: The Mayor introduced the following resolution with the caption being read as follows: A RESOLUTION BY THE CITY COUNCIL OF THE CITY OF SCHERTZ, TEXAS AUTHORIZING AND DIRECTING THE GIVING OF NOTICE OF INTENTION TO ISSUE THE $150,000 CITY OF SCHERTZ, TEXAS, COMBINATION TAX AND JUNIOR LIEN REVENUE CERTIFICATtS OF OBLIGATION SERIES 1981. Mr. Sawyer moved this resolution authorizing and directing the givirngr! of notice of intention to issue the $150,000 City of Schertz, Texas, Combination Tax and Junior Lien Revenue Certificates of Obligation, Series 1981, be passed. Mrs. Lawler seconded the motion which carried with the following vote: AYES: Councilmembers Duffield, Taylor, Howe, Sawyer and Lawler NAYS: None J( J r' ~t_ 22 #5 GENERAL DISCUSSION: There was no general discussion. #6 ADJOURNMENT: There being no further business, and on a motion duly made, seconded and unanimously carried, he j) meeting adjourned at 7:06 P.M. )f ~. --4t . Te as ATTEST: ~r~t~ ~ ':,'1 ~~nertz SPECIAL SESSION OF THE CITY COUNCIL MARCH 17, 1981 The Schertz City Council convened in Special Session, Tuesday, March 17, 1981 at 7:00 P.M. in the Council Chambers with the following members present: Mayor Pro Tem Richard L. Howe, presiding; Jeff Duffield; Barbara Taylor; Earl W. Sawyer and Jacqueline Lawler. Staff present: City Manager Jimmy G. Gilmore and City Secretary June G. Krause. After calling the meeting to order, Mayor Pro Tem Howe welcomed everyone present and explained that this day was Student Government Day in which High School students from the Government class acted as Mayor and Council as well as other City employees for the Day. He then asked the Student Mayor Mary Huffman to introduce her Council: Mayor Pro Tem Jody McLeod, Council- members: Place 2 Mae Malear, Place 3 Pat Galindo, Place 4 Larry Ball, Place 5 Kathy Phelps, City Manager Carol McFarland and City Secretary/As'st. City Manager Cindy Delgado. These students had held a Council Meeting earlier in the day using the same agenda and were sitting in to see how the City Council handled the same issues. A portion of their meeting was played for the benefit of those unable to attend the earlier meeting. #1 APPROVAL OF MINUTES: Mrs. Lawler asked that the sixth paragraph on page 17 of the minutes of March 3, 1981, be amended to show the proposed hospital district tax would be 10~/$100 valuation rather than the 10~/$l.00 as shown. Mr. Sawyer the moved the minutes of the Regular Meeting of March 3,1981, be approved as amended. Mrs. Lawler seconded the motion which carried with the following vote: AYES: Councilmembers Duffield, Taylor, NAYS: None , Sawyer and Lawler "-- ! I I I #2 HEARING OF RESIDENTS: Mr. Kenneth Place, Government teacher at I j Samuel Clemens High School and sponsor of Government Day, expressed his appreciation and thanks to the City of Schertz Council and Staff for their kindness and generosity in the Student Day activities.