03-12-1975
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SPECIAL MEETING OF THE CITY COUNCIL
MARCH 12, 1975
The Schertz City Council convened in Special Session,
Wednesday, March 12, 1975 at 7:25 P.M. in the Council Chambers,
401 Oak Street with the following members present: Mayor
Robert C. Bueker, presiding; Mrs. Nell G. Funk, Donald J. Seeba,
Tom Koole and Robert E. Schwartz. Absent: Mrs. Bobbie L. Koch.
Also present City Manager Denny L. Arnold and Financial Advisor
Tom Anderlitch. Absent: City Secretary June G. Krause.
The purpose of the Special Meeting was to open bids and
pass and adopt ordinances authorizing the issuance of Utility
Systems Revenue Bonds and General Obligation Bonds of the City
of Schertz.
Bids for the $325,000 City of Schertz Texas Utility System
Revenue Bonds, Series 1975 were opened as follows:
The
Columbian Securities Corp. of
Interest
9-1-1979 through 9-1-1989
9-1-1990 through 9-1-2005
Gross Interest Costs
Less: Premium'
Net Interest Cost
Effective Interest Rate
M. E.
Allison &
Interest
9-1-1979
9-1-1984
9-1-1987
9-1-1991
through 9-1-1983
through 9-1-1986
through 9-1-1990
through 9-1-2005
Co. Inc.
Gross Interest Costs
Less: Premium
Net Interest Costs
Effective Interest Rate
Texas
7%
7t%
$533,087.50
- 0 -
533,087.50
7.45837%
6.00%
6.50%
7.00%
7.45%
$526,701.25
- 0 -
526,701.25
7.369%
through
through
through
through
through
Rauscher Pierce Securities Corporation
Interest
9-1-1979
9-1-1984
9-1-1994
9-1-1995
9-1-1997
7-3/4%
7.00%
7.20%
7.25%
7 . 40%
9-1-1983
9-1-1993
9-1-1996
9-1-2005
Gross Interest Cost
Less: Premium
Net Interest Cost
Effective Interest Rate
$524,013.75
- 0 -
524,013.75
7.33142%
222
Russ Securities Corporation
Interest
9-1-1979 through 9-1-1993
9-1-1994 through 9-1-1996
9-1-1997
9-1-1998 through 9-1-1999
9-1-2000 through 9-1-2005
Gross Interest Cost
Less: Premium
Net Interest Cost
Effective Interest Rate
7.50%
7.25%
7.30%
7.35%
7 . 40%
$528,570.00
42.25
528,527.75
7.39458%
Underwood, Neuhaus & Co., Incorporated
Interest
9-1-1979 through 9-1-1995
9-1-1995 through 9-1-1997
9-1-1998
9-1-1999 through
9-1-2000 through 9-1-2005
Gross Interest Cost
Less: premium
Net Interest Cost
Effective Interest Rate
7.10%
7.25%
7.30%
7 . 40%
7.50%
$526,908.75
- 0 -
526,908.75
7.37193%
Bids for $235,000 City of Schertz, Texas General Obligation
Bonds, Series 1975, were opened as follows:
The Columbian Securities Corp. of Texas
Interest
9-1-1978 through 9-1-1990
9-1-1991 through 9-1-1993
9-1-1994 through 9-1-1995
9-1-1996 through 9-1-2001
6-3/4%
7%
7-1/4%
7-1/2%
Gross Interest Cost
Less: Premium
Net Interest Cost
Effective Interest Rate
$331,406.25
- 0 -
331,406.25
7.33605%
Rauscher Pierce Securities Corporation
Interest
9-1-1978
9-1-1978
9-1-1990
9-1-1993
9-1-1997
through
through
through
through
through
9-1-1986
9-1-1989
9-1-1992
9-1-1996
9-1-2001
7.00%
6.20%
6.80%
7.00%
7.20%
$319,540.00
- 0 -
319,540.00
7.07338%
Gross Interest Cost
Less: premium
Net Interest Cost
Effective Interest Rate
Russ Securities Corporation
Interest
9-1-1978 through 9-1-1990
9-1-1991
9-1-1992
9-1-1993 through 9-1-1995
9-1-1995 through 9-l-20Ql
Gross Interest Cost
Less: Premium
Net Interest Cost
Effective Interest Rate
223
7.00%
6.75%
6.90%'
7.00%
7.30%
$325,366.25
162.25
325,204.00
7.19876%
Underwood, Neuhaus & Co, Incorporated
Interest
9-1-1978 through 9-1-1994
9-1-1994 through 9-1-1997
9-1-1998
9-1-1999
9-1-2000 through 9-1-2001
Gross Interest Cost
Less: Premium
Net Interest Cost
Effective Interest Rate
7.00%
7.25%
7.30%
7.40%
7.50%
$328,832.50
- 0 -
328,832.50
7.27908%
Before acceptance of any of the bids, Mr. Anderlitch wished to
tabulate all bids for accuracy, after which he reported that
Rauscher Pierce Securities Corporation's bid checked out to be
a good bid and the lowest bid.
Mr. Seeba moved to accept the low bid on both issues of Rauscher ,'!r.'"
Pierce Securities Corporation. Mrs. Funk seconded the motion ;./>. i,)
which carried with the following vote:
AYES: Mrs. Funk, Mr. Seeba, Mr. Koole, and Mr. Schwartz.
NAYS: None.
The Mayor introduced the following captioned ordinance
which was read in full by the City Manager. Mr. Seeba moved ~,~.
that said ordinance be considered by the Council as an emergency
measure. Said motion was seconded by Mrs. Funk; whereupon said
motion was fully discussed and considered. The Mayor put the
motion to consider said motion as an emergency measure to the
members of the Council and said motion was approved and adopted
by the following vote: -
AYES: Mrs. Funk, Mr. Seeba, Mr. Koole and Mr. Schwartz.
Nays; None
...
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The Mayor then introduced the hereinafter set forth
ordinance as an emergency measure. Thereupon it was moved by
Mrs. Funk and seconded by Mr. Schwartz that said ordinance be
finally passed and adopted. The Mayor put the motion to a vote
of the members of the Council and the ordinance was finally
passed and adopted by the following vote:
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224
AYES: Mrs. Funk, Mr. Seeba, Mr. Koole and Mr. Schwartz
NAYS: None
AN ORDINANCE BY THE CITY COUNCIL OF THE CITY OF SCHERTZ,
TEXAS, AUTHORIZING THE ISSUANCE OF $325,000 PRINCIPAL
AMOUNT OF SPECIAL OBLIGATION BONDS OF THE CITY OF SCHERTZ
TO BE KNOWN AS "$325,000 CITY OF SCHERTZ, TEXAS, UTILITY
SYSTEM REVENUE BONDS, SERIES 1975," FOR J'HE PURPOSE OF SECURING
FUNDS IN THE AMOUNT OF $275,600 TO BE USED TO IMPROVE AND
EXTEND THE WATERWORKS SYSTEM OF SAID CITY AND FOR THE PURPOSE
OF SECURING FUNDS IN THE AMOUNT OF $50,000 TO BE USED TO IM-
PROVE AND EXTEND THE SANITARY SEWER SYSTEM OF SAID CITY;
PRESCRIBING THE MATURITIES OF SAID BONDS AND THE INTEREST
RATES; PRESCRIBING THE FORM OF SAID BONDS AND THE INTEREST
COUPONS; PLEDGING THE NET REVENUES OF THE CITY'S COMBINED
WATERWORKS AND SANITARY SEWER SYSTEMS TO PAY THE PRINCIPAL
OFAND INTEREST ON SAID IDNDS; 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 PRE-
VIOUSLY ISSUED BONDS, AND ANY fl~'t 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 WATERWORKS, SANITARY SEWER, ELECTRIC LIGHT AND
POWER AND/OR NATURAL GAS SYSTEM; 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 1973," DATED APRIL 1, 1973, THE OUTSTANDING
"CITY OF SCHERTZ, TEXAS, UTILITY SYSTEM REVNEUE BONDS,
SERIES 1972," DATED MARCH 1, 1972, AND THE OUTSTANDING
"CITY OF SCHERTZ, TEXAS UTILITY SYSTEM REVENUE BONDS,
SERIES 1968," DA~~u 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 A NY FUNDS RAISED, OR TO BE RAISED, BY TAX-
ATION; CONFIRMING THE SALE OF SAID BONDS; DECLARING AN
EMERGENCY; AND MAKING CERTAIN FINDINGS AND CO'~"ENANTS AND
ENACTING OTHER PROVISIONS INCIDENT AND RELATING TO THE
SUBJECT AND PURPOSE OF THIS ORDINANCE.
tflf-75
The Mayor introduced the following captioned ordinance which was
read in full. Mr. Schwartz moved that said ordinance be consid-
ered by the Council as an emergency measure. Said motion was
seconded by Mr. Seeba; whereupon said motion was fully discussed
and considered. The Mayor put the motion to consider said motion
as an emergency measure to the members of the Council and said
motion was approved and adopted by the following vote:
AYES: Mr5. Funk, Mr. Seeba, Mr. Koole and Mr. Schwartz
NAYS: None
r;./
1/-5/ 1,-,
The Mayor then introduced the hereinafter set forth ordinance
as an emergency measure. Thereupon it was moved by Mr. Schwartz
and seconded by Mrs. Funk that said ordinance be finally passed
and adopted. The Mayor put the motion to a vote of the members
of the Council and the ordinance was finally passed and adopted
by the following vote:
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AYES: Mrs. Funk, Mr. Seeba, Mr. Koo1e and Mr. Schwartz
NAYS: None
AN ORDINANCE BY THE CITY COUNCIL OF THE CITY OF
SCHERTZ, TEXAS, AUTHORIZING THE ISSUANCE OF
$235,000 OF CITY OF SCHERTZ, TEXAS GENERAL OBLIGATION
BONDS, SERIES 1975, AND LEVYING THE NECESSARY T~,{
SUFFICIENT TO PAY THE INTEREST THEREON AS THE SANE
BECO}lliS DUE A1iD TO CREATE THE NECESSARY AliD SUFFICIENT
SINKING FUND TO PAY THE PRINCIPAL THEREOF AS REQUIRED
BY LA1J; $25,000 OF SAID BONDS TO BE ISSUED FOR THE
PURPOSE OF CONSTRUCTING STREET HIPROVENENTS IN SAID
CITY; $85,000 OF SAID BONDS TO BE ISSUED FOR Trm PUR-
POSE OF CONSTRUCTING DRAINAGE I}IPRO~mNTS FOR SAID
CITY, AND $125,000 OF SAID BONDS TO BE ISSUED FOR THE
PURPOSE OF CONSTRUCTING PARK HIPROVENENTS IN SAID CITY;
SAID BONDS HAVING BEEN AUTH~RIZED AT ELECTIONS HELD IN
SAID CITY ON THE 30TH DAY OF OCTOBER, 1971, AJ~D ON THE
27TH DAY OF JULY, 1974; PRESCRIBING THE ~~TURITIES OF SAID
BONDS AND THE INTEREST RATES; PRESCRIBING THE FORM OF SAID
BONDS AND THE INTEREST COUPONS; CONFIRNING THE SALE OF
SAID BONDS; DECLARING AN E:MERGENCY; AND ENACTING OTHER
PROVISIONS INCIDENT AND RELATING TO THE SUBJECT A1\TD
PURPOSE OF THIS ORDINANCE.
On a motion by Mrs. Funk, seconded by lIr. Schwartz and passed
unanimously, meeting adjourned at 8:00 P.}'1.
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Mayor, City of Schertz, Texas
ATTEST:
Q:AA-f < -1( k:;~~o
c~secretary, ctEy of Schertz
SPECIAL }illETING OF THE CITI COill\CIL
}1ARCH 12, 1975
The Schertz City Council convened in Special Session
jointly '-lith the Planning and Zoning Commission, '\1edne s day ,
March 12, 1975, at 8:05 P.M., in the Council Chambers, 401 Oak
Street, with the following members present: Council - :Mayor
Robert C. Bueker, presiding; Mrs. Funk, Mr. Seeba, Hr. Koole,
and Mr. Schwartz. Absent Mrs. Koch. P&Z members present:
Chairman Johnnie lase, Chuck Sharp, Chuck Peifer, Dick Howe,
Sam Carey and Ray Stanhope. Absent: Earl Smvyer.