ccss 03-16-1981
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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
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#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:
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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:
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AYES: Councilmembers Duffield, Taylor, Howe, Sawyer and Lawler
NAYS: None
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#3 ORDINANCE: The Mayor introduced an ordinance as an emergency measure
with'the caption being read as follows:
1--; AN ORDINANCE
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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
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#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
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#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
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ATTEST:
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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
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#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.