Min - City Council - 1985 - 06/24 - Special CalledALLEN CITY COUNCIL
CALLED - SPECIAL SESSION
June 24, 1985
PROPOSITION NUMBER 2
THE ISSUANCE OF $785,000 GENERAL OBLIGATION
BONDS FOR FIRE -FIGHTING FACILITIES AND EQUIPMENT"
Present:
Donald P. Rodenbaugh, Mayor
Council Members•
Joe Farmer, Mayor Pro Tem
Jim McClure
Rex Womack
Jim Wolfe
Jim Pendleton
Gary Koch
City Staff:
Jon McCarty, City Manager
Marty Hendrix, City Secretary
The called - special session of the Allen City Council
was called to order by Mayor Rodenbaugh at 7:06 p.m. on
Monday, June 24, 1985, in the Council Chambers of the Allen
Municipal Annex, One Butler Circle, Allen, Texas.
Canvass of Elections Returns for
the Bond Election held on
June 22, 1985 (Agenda Item II -A)
City Secretary Marty Hendrix reviewed for the Council
the election returns and the register of official ballots
for the Bond Election held on Saturday, June 22, 1985. The
election returns are reflected as follows, which are cumulative
totals of the votes cast at the absentee polling place and
the regular polling place.
PROPOSITION NUMBER 1
"THE ISSUANCE OF $2,050,000 GENERAL OBLIGATION
BONDS FOR A POLICE AND COURTS FACILITY"
"FOR" 442 votes
"AGAINST" 102 votes
TOTAL VOTES CAST 544 votes
PROPOSITION NUMBER 2
THE ISSUANCE OF $785,000 GENERAL OBLIGATION
BONDS FOR FIRE -FIGHTING FACILITIES AND EQUIPMENT"
TOTAL VOTES CAST
480 votes
65 votes
545 votes
"FOR"
"AGAINST"
TOTAL VOTES CAST
480 votes
65 votes
545 votes
ALLEN CITY COUNCIL
June 24, 1985 Page 2
Canvass of Election Returns for
the Bond Election Held on
June 22, 1985 (cont'd) (Agenda Item II -A)
f PROPOSITION NUMBER 3
"THE ISSUANCE OF $5,065,000 GENERAL OBLIGATION
BONDS FOR PARKS"
"FOR" 413 votes
"AGAINST" 132 votes
TOTAL VOTES CAST 545 votes
PROPOSITION NUMBER 4
"THE ISSUANCE OF $9,970,000 GENERAL OBLIGATION
BONDS FOR STREET IMPROVEMENTS"
"FOR" 457 votes
"AGAINST" 82 votes
TOTAL VOTES CAST 539 votes
i
PROPOSITION NUMBER 5
"THE ISSUANCE OF $2,525,000 GENERAL OBLIGATION
BONDS FOR LIBRARY FACILITIES"
"FOR" 451 votes
"AGAINST" 90 votes
TOTAL VOTES CAST 541 votes
PROPOSITION NUMBER 6
"THE ISSUANCE OF $3,840,000 REVENUE BONDS FOR
IMPROVEMENTS AND EXTENSIONS TO THE WATERWORKS
SYSTEM"
"FOR" 460 votes
"AGAINST" 82 votes
TOTAL VOTES CAST 542 votes
PROPOSITION NUMBER 7
"THE ISSUANCE OF $900,000 REVENUE BONDS FOR
IMPROVEMENTS AND EXTENSIONS TO THE SANITARY
SEWER SYSTEM"
"FOR" 461 votes
"AGAINST" 82 votes
TOTAL VOTES CAST 543 votes
Total Number of Votes Cast: 545
Regular Polling Place: 507
Absentee Polling Place: 38
ALLEN CITY COUNCIL
June 24, 1985
Page 3
Resolution No. 617-6-85(R):
A Resolution by the City Council
of the City of Allen, Texas,
Canvassing the Returns and
Declaring the Results of the
Bond Election Held June 22, 1985 (Agenda Item II -B)
MOTION: Upon a motion made by Councilman Womack and
seconded by Councilman Koch, the Council
voted 7 - 0 to adopt Resolution No. 617-6-85(R),
as captioned above. The motion carried.
Direct City Staff to Prepare
the 5 -Year Capital Improvement
Program and One -Year General
Obligation and Revenue Bond
Budgets (Agenda Item III)
City Manager Jon McCarty advised the Council of the
need now for city staff to prepare the 5 -Year Capital
Improvement Program showing the specific projects and
when they are to be undertaken and to develop the one-year
General Obligation Bonds and Water and Sewer Revenue Bond
Budgets for the projects to be undertaken in the first
year of the Capital Improvement Program and in order to
see just how many bonds need to be sold.
11a
MOTION: Upon a motion made by Councilman McClure and
seconded by Councilman Wolfe, the Council
voted 7 - 0 to direct the city staff to prepare
the 5 -Year Capital Improvement Program and the
1 -Year General Obligation Bonds and the Water
and Sewer Revenue Bonds Budgets. The motion
carried.
Authorization to Schneider,
Bernet, and Hickman to Begin
Preparations Necessary to Sell
General Obligation and Water
and Sewer Revenue Bonds in
Amounts to be Determined Later (Agenda Item IV)
City Manager Jon McCarty distributed copies of a letter
from Schneider, Bernet, and Hickman, the city's bond agent,
to the Council which contained information on the schedule
of events that will now take place to proceed with the
financing of the city's proposed capital improvement program.
Dan Almon, Senior Vice President of Schneider, Bernet,
and Hickman, was present to answer any questions pertaining
to the contents of the letter with the schedule of events
beginning on July 18th and following through to August 14,
1985.
The Council discussed with Mr. Almon and the City
Manager the need for city staff to determine the amount of
bonds to be sold in the first year, the timeframe estimated
for completion of that project, if it would be advantageous
for the city to move up the schedule by holding another
meeting, or keeping the timeframe suggested by the bond agent.
City Manager McCarty suggested presenting the 1 -year bond
budget to the Council at the July 9th budget workshop session.
In further discussion, Mr. Almon advised the Council
of the current interest rates in the bond market and advised
of the fluctuation of the interest rates in the past years
and how the market had been recently.
11a
ALLEN CITY COUNCIL
June 24, 1985
Page 4
Authorization to Schneider,
Bernet, and Hickman to Begin
Preparations Necessary to Sell
General Obligation and Water
and Sewer Revenue Bonds in
Amounts to be Determined Later (Agenda Item IV)
The Council discussed with Mr. Almon the bidding of the
bonds rather than the placement of the bonds as the city had
done in the past; the use of obtaining insurance on the bonds
in order to obtain a better rating for the bonds; the
delegation that should go to New York to appear before the
bond rating companies; and what the bond agent's thoughts
were on what type of rating the city might obtain and if
it could be raised above the present BAA rating; and what
the rating might be on the Water and Sewer Revenue Bonds
that had no rating at the present time.
MOTION: Upon a. motion made by Mayor Pro Tem Farmer and
seconded by Councilman Womack, the Council voted
7 - 0 to authorize Schneider, Bernet and Hickman
to begin preparations necessary to sell the
General Obligation Bonds and Water and Sewer
Revenue Bonds in amounts to be determined at a
later date. The motion carried.
General Discussion
The City Council discussed with city staff what type
of appreciation that the Council wanted to go forward with
for the members of the Capital Improvement Program Study
Committee, the members of the Public Information Committee,
and the individuals in the community that had contributed
to the fund for the bond committee and funds for endorsements
of support for the bond program.
It was concluded after the discussion, that Certificates
of Appreciation would be prepared and mailed to the members
of the Capital Improvement Program Study Committee with a
letter from the Mayor. Mayor Pro Tem Farmer would send out
letters of appreciation to members of the Public Information
Committee and to the individuals in the community that had
contributed funds and services for the bond committee.
Councilman Gary Koch would place an advertisement in the
local newspapers expressing appreciation to all the citizens
for their support of the bond program and he would send out
letters of appreciation to the individuals in the community
that had provided funds for the endorsements of support for
the bond program.
Adjournment (Agenda Item V)
MOTION: Upon a motion made by Mayor Pro Tem Farmer and
seconded by Councilman Womack, the Council voted
7 - 0 to adjourn the called - special session
at 7:45 p.m. on Monday, June 24, 1985. The
motion carried.
These minutes approved on the i gth day of ,7I3T.V
1985.
�. 1 min i�u . � � •�. �.11
Marty Hendrix, ITY SECRETARY