HomeMy WebLinkAbout11/16/1982 - Special Minutes City Council MINUTES
SPECIAL CITY COUNCIL MEETING
TUESDAY, NOVEMBER 16, 1982
7:00 P.M.
COUNCIL MEMBERS PRESENT:
Mayor Halter, Councilmen Prause, Jones
Runnels, Ringer, Nemec.
COUNCIL MEMBERS ABSENT:
Councilman Boughton
STAFF PRESENT:
City Manager Bardell, Asst. City Manager/
Finance Director VanDever, City Attorney Denton,
Director of Capital Improvements Ash, Asst.
Director of Planning Callaway, Council
Coordinator/Deputy City Secretary Martin, City
Secretary Jones, Purchasing Agent Weddle, Energy
Coordinator Albrecht, Public Service Director
Allen, Traffic Engineer Black, Community Center
Director Calliham, Adminstrative Asst. Nowlin,
Energy Specialist Layne, Tax Assessor-Collector
Dickson
VISITORS PRESENT:
See guest register.
Mayor Halter indicated that Ms. Bates of the Arts Council requested to be
moved up on the Agenda to Item No. 3. The council had no ojections.
Agenda Item No. 1 - Council Concerns.
Councilman Jones stated that the traffic light at the intersection of
Southwood Drive and FM 2818 needs to have left turn arrows installed to
prevent further traffic holdups. Motorists not knowing the light is the
only green signal at the intersection, have been hesitating to turn left
when the light is green.
Traffic Engineer Black stated that he would look into solving the problem.
Agenda Item No. 2 - Report on Employee Medical Insurance.
Personnel Director Gray presented the item. He indicated that this item
was to inform the council of a 63% rate increase from Aetna Insurance, the
city°s current medical insurance contractor. To lower the city's premiums
and future costs, the staff is proposing to raise the deductible from $100
to $200 per individual, and to raise the 20% out-of-pocket limit from $500
to $1000. Also, the city will now pay 25% of the employee°s premium for
dependent coverage. He stated that the major reason for the increase in
group insurance was the numerous claims made and the high average cost.
Mayor Halter indicated that this item was only a report from the staff at
this time.
Agenda Item No. 3 - Consideration of proposal on Christmas Decorations for
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TUESDAY, NOVEMBER 16, 1982
PAGE 2
the Community Center.
Community Center Director Calliham stated that the bids she had received
from other companies were actually not on items parallel to the articles
priced previously by the Christmas Store. She indicated that considering
the materials being bid on, the Christmas Store's bid was lower than all
others.
After further discussion, Councilman Jones moved to accept the Christmas
Store bid for $4,167.90 for Community Center Christmas decorations and to
transfer the funds from Hotel/Motel Contingency.
Councilman Ringer seconded the motion which passed unanimously.
Councilman Runnels suggested that a council committee meet regarding the
Hotel/Motel Tax Funds and outline the use of these funds.
Mayor Halter pointed out that the time was 7:30 p.m. and all bids for the
sale of bonds must have already been delivered and received to be
considered. He also stated that he possessed a signed affidavit by
Councilman Boughton stating the she was made aware that a Special City
Council Meeting was to be held on November 16, 1982 and that the City of
College Station would be considering acceptance of the General Obligation
and Utility System Revenue Bond bids.
Agenda Item No. 11 - Jod~ Bates of the Arts Council to present proposal
for 1983 Municipal Art Collection.
Jody Bates presented the item. She indicated that the Arts Council has
discussed with the staff the possibility of having a Municipal Art
Collection in the wing of the new city hall expansion. The approximate
cost to put on a "Competition", excluding purchases made, is $16,400.00.
Councilman Runnels suggested that this item be refered to a Hotel/Motel Tax
Fund council committee for reviewal on priority items to be funded by this
fund.
After further discussion, Councilman Ringer moved to have a Hotel/Motel Tax
Fund council committee study the items and create a list of proposals for
the council to review and determine priorities.
Councilman Runnels seconded the motion which passed unanimously.
Agenda ~em ~o. 4 - Receipt and 0peging of bids on $6,590,000 General
Obligation Bonds, Series fi 1982 and $9,325,000 Utility System R~venue
Bonds, Series II 1982.
Financial Advisor David Fetzer of Moroney, Beissner & Co., opened and read
the following submitted bids:
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SPECIAL WORKSHOP CITY COUNCIL MEETING
TUESDAY, NOVEMBER 16, 1982
PAGE 3
On the $6,590,000 General Obligation Bonds, Series II 1982, Rauscher Pierce
Refsnes, Inc. Mgr., et al bid a Net Interest Cost of $6,553,295.90 with an
effective interest rate of 9.732015%.
Rotan Mosle, Inc., Jt. Mgr, et al bid a Net Interest Cost of $6,569,178.12
with an effective interest rate of 9.755601%.
Interfirst Bank-Dallas N.A. Mgr. et al bid a Net Interest Cost of
$6,603,736.60 with an effective interest rate of 9.8069%.
Cowen & Company RW Div. Mgr. et al bid a Net Interest Cost of $6,679,112.50
with an effective interest rate of 9.9188%.
On the $9,325,000 Utility System Revenue Bonds, First Boston Corp. et al
bid a Net Interest Cost of $8,337,945.00 with an effective interest rate of
9.6441%.
Dean Witter Reynold, Inc., Mgr. et al bid a Net Interest Cost of
$8,450,562.50 with an effective interest rate of 9.77438%.
Rauscher Pierce Refsnes Inc., Mgr. et al bid a Net Interest Cost of
$8,455,196.75 with an effective interest rate of 9.779740%.
Mr. Fetzer stated that he and Mr. Fischer would take a few minutes to
review the bids that were received and announce their recommendations to
the council.
At this time, Mr. Dick Richards and Mr. Rowland Ho Geddie, of Baker &
Botts, presented proposed Ordinances for the General Obligation and Utility
System Revenue Bonds which provided necessary details of the bond sale and
acceptance of any bid that was submitted. This bond sale was approved and
authorized at the April 4, 1981 bond election.
Agenda Item No. 5 - Award of contract for sale of $6,590,00 General
Obligation Bonds and $9,325,000 Utilit~ System Revenue Bonds, Series II
1982.
After a final report and recommendations of the Financial Advisors,
Councilman Ringer moved to accept the low bid from Rauscher Pierce Refsnes,
Inc. Mgr., et al for the General Obligation Bonds and to create Ordinance
No. 1392 which initiates the acceptance of the bid.
Councilman Runnels seconded the motion which passed unanimously with
Councilman Boughton absent.
Councilman Runnels moved to accept the low bid from The First Boston
Corporation et al for the Utility System Revenue Bonds and to create
Ordinance No. 1393 which initiates the acceptance of the bid.
Councilman Ringer seconded the motion which passed unanimously.
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SPECIAL WORKSHOP CITY COUNCIL MEETING
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PAGE 4
A FINAL SUMMARY OF ALL BIDS THAT WERE RECEIVED ON THIS DATE WILL BECOME A
PART OF THE MINUTES OF TUESDAY, NOVEMBER 16, 1982 SPECIAL CITY COUNCIL
MEETING.
The council recessed at this time to sign the official documents regarding
the bond sale material.
The meeting reconvened with Mayor Pro-tem Ringer presiding over the meeting
while Mayor Halter was absent.
Agenda Item No. 6 - A public hearing on the question of amgq~ng the.Zoning
Ordinance No. 850 rev~s~ 'the District C-3 Planned Commercial District
Regulations, Permitted Uses and providing for a maximum lot size. [82-807]
Asst. Director of Planning Callaway presented the item. He stated that on
August 19, 1982, the P&Z Commission met with the City Planner regarding
problems that had recently been encountered with development under the
District C-3 Planned Commercial district regulations. These problems
included the use of C-3 zoning on large sites and lack of a clear
definition of repair shops as allowed in District C-3. The staff was
directed to create an Ordinance amending District C-3 by establishing a
maximum lot size of 3 acres, providing a definition of repair shop and
adding nursery/plant sales as a permitted use in District C-3. Public
hearings have been published and held at the P&Z Commission meetings. The
P&Z Commission recommends approval of this change.
Mayor Pro-tem Ringer opened the public hearing.
public hearing was closed.
When no one spoke, the
Agenda Item No. 7 - Consideration of an Ordinance to amend the Zoning
Ordinance.
Councilman Runnels moved adoption of Ordinance No. 1394 which amends the
Zoning Ordinance regarding District C-3 permitted uses.
Councilman Nemec seconded the motion which passed unanimously with Mayor
Halter absent from the voting.
Agenda Item No. 8 - Consideration of accepting petitiqq.~q~ annexation of
54.99 acre tract in the Thos. Caru%hers League and the Robert St~ph~son
League.
Asst. Director of Planning Callaway presented the item. He pointed out the
area of the tract on the map. The City Secretary has received a petition
requesting annexation of this 54 acre tract.
After further discussion regarding utilities in this area, Councilman
Runnels moved to accept the petition for annexation of this tract and
direct the city staff to prepare materials for consideration.
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SPECIAL WORKSHOP CITY COUNCIL MEETING
TUESDAY, NOVEMBER 16, 1982
PAGE 5
Councilman Prause seconded the motion which passed unanimously with Mayor
Halter absent from the voting.
Mayor Halter re-joined the meeting.
Agenda Item No.9 - CONSENT AGENDA:
BIDS: Video Recorder and Accessories
PLATS: Glenhaven II - Martin Riley [82-317]
Councilman Runnels asked that the Glenhaven II plat be removed.
Councilman Ringer asked that the bid be removed from the consent agenda.
He asked if the submission of only one bid was sufficient for purchasing
the equipment.
Purchasing Agent Weddle replied that the bid met all specifications and
projected costs.
Councilman Prause moved to approve the bid as recommended by the city
staff.
Councilman Nemec seconded the motion which passed unanimously.
Councilman Runnels asked if Glenhaven II would cause heavy truck traffic
from vehicles using Dominik and Francis for access to the area.
Director of Capital Improvements Ash replied that this development should
not affect traffic since the most convenient access to the area is
University Drive. He in¢icated that if this becomes a traffic problem, the
city can regulate the traffic flow.
After further discussion, Councilman Ringer moved approval of the Glenhaven
preliminary plat. Councilman Runnels seconded the motion which passed
unanimously.
Agenda Item No. 10. Consideration of funding for 1983 Eq~rgy Expo from
Hotel/Motel Tax Fund.
This item was removed from the agenda.
Agenda Item No. 12 - Consideration of an Ordinance changing the s~eed limit
on State Hi~hwa~ 30.
Councilman Runnels moved to remove the item from the table.
Prause seconded the motion which passed unanimously.
Councilman
City Attorney Denton presented the item. He indicated that from reviewing
the motor laws, the City of College Station has the right to set all speed
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SPECIAL WORKSHOP CITY COUNCIL MEETING
TUESDAY, NOVEMBER 16, 1982
PAGE 6
limits within the city following an engineering study with a deviation
factor of 7 m.p.h.. He recommended that the council re-table this item
until the city staff can confer with the Highway Department and request
that the speed limits be reduced due to numerous motor vehicle accidents.
Agenda Item No. 13 - Hear visitors.
No one spoke.
~enda Item No. 14 - Closed session to discuss personnel [6252-17(g)].
The council moved to closed session and later reopened to the public.
Agenda Item No. 15 - Action on closed session.
Councilman Prause moved to create a new position of Street Superintendent
in the Public Works Department. Funds are currently available in the
1982-83 FY budget.
Councilman Nemec seconded the motion which passed unanimously.
Agenda Item No. 16 - Adjourn.
Mayor Halter adjourned the meeting.
ATTEST:
APPROVED
Gar~ '~al~/
Dian Jones, ~y Secretary
003734
Bond Buyer Index
9.92%
Ratings: G.O. Rev.
Moody's A-1
S&P's A+ AA-
TABULATION OF BIDS
Received
November 16, 1982
CITY OF CO LLEGE STATION 7/~_~ (Brazos County, Texas)
$6,590,000
General Obligation Bonds, Series II 1982
AND
$9,325,000
Utility System Revenue Bodds, Series II 1982
GENERAL OBLIGATION BONDS
Bidder
1. Rauscher Pierce Refsnes,
Inc., Mar.
Prudential-Bache Securities
Inc.
Bear, Stearns & Co.
Fort Worth National Bank
Goldman, Sachs & Co.
Mercantile National ~ank
~t Dallas
Underwood, Neuhaus & Co.,
Inc.
BancTexas Dallas, N.A.
Schneider, Bernet & Hickman,
Inc.
John Nuveen & Co., Inc.
Westcap Securities, Inc.
First National Bank of
Fort Worth
Maturities Coupons
1984-1989 11.00
1990 9.10
1991-1992 9.00
1993 9.20
1994 9.40
1995 9.60
1996 9.8O
1997 10.00
1998 10.10
1999 10.20
2000 9. OO
1984-1992 10.25%
Kidder Peabody & Co.,Inc.
Merrill Lynch White Weld
Capital Markets Group
RepublicBank Dallas
Shearson/American Express,
Inc.
First National Bank-Boston
Securities Corp. of Iowa,
St. Paul
IN ASSOC. WITH
C&C Southwest, Jt. Mgr.
Dean Witter Reynolds, Inc.
First Boston Corp.
"~pital National Bank
1993-1994 9.50%
1995 9.75%
1996 9.8O%
1997-1998 10.00%
1999 10.25%
2000 8.25%
Interest Cost
GIC - $6,553,668.75
Prem. 372.85
NIC - $6,553,295.90
Effect i ye
Int. Rate
9.732015%
Prem - -0-
NIC - $6,569,178.12
9.7556O1%
3. InterFirst Bank-Dallas N.A. 1984-1987
Mgr. 1988
The Northern Trust Co. 1989
Harris Trust & Savings Bank 1990
Texas Commerce Bank N.A.
Paine, Webber, Jackson
Curtis Inc.
BancNorthwest
Collins, Locke, & Lasater
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
10.50
9.40
8.50
8.70
8.90
9.10
9.25
9.50
9.70
9.85
10.00
10.20
10.30
10.40
GIC- $6,604,100.00
Prem - 363.40
NIC - $6,603,736.60
9.8069%
Continued ............
003736
Bidder Maturities Coupons Interest Cost
4. Cowen & Company RW 1984-1989
Div. Mgr. 1990
Bank of the Southwest N^ 1991
~ancTexasDallas, N.A. 1992
Alex Brown & Sons 1993
A.G. Edwards& Sons, Inc. 1994
Mercantile Nat'l Bank Dallas 1995
Smith Barney,Harris Upham 1996-2000
& Co., Inc.
M.E. Allison & Co.
Greer Moreland Fosdick Shepherd, Inc.
IN ASSOC. WITH
First City National Bank, Jt. Mgr.
Allied Bank of Texas
E.F. Hutton & Co. lnc
11.00%
9.75%
9.00%
9.20%
9.40%
9.60%
9.80%
10.00%
GIC - $6,679,112.50
Prem -0-
NIC - $6,679,112.50
Effective
Int. Rate
9.9188%
Bidder
1. The First Boston Corp.
Smith, Barney, Harris
Upham & Co.
REVENUE BONDS
Maturities
1984-1990
1991
1992
1993
1994
1995
1996-1998
1999-2000
Coupons
10.50%
10.00%
9.20%
9.40%
9.60%
9.80%
10.00%
8.50%
Interest Cost
GIC - $8,338,156.25
Prem - 211.25
NIC - $8,337,945.00
Effective
Int. Rate
9.6441%
Dean Witter Reynolds, Inc.
Mgr.
Drexel, Burnham, Lambert,
Inc.
L.F. Rothschild,Unterberg
Towbin
Thompson McKinnon Sec.
Eppler Guerin & Turner, Inc.
Westcap Securities, Inc.
IN ASSOC.WITH
Cowen & Co., R/W Div.
A.G. Becker, Inc.
Donaldson, Lufkin, Jen-rette Securities Corp.
Greer Moreland Fosdick
Shepherd, Inc.
E.F. Hutton & Co.,Inc.
M.E. Allison & Co.,Inc.
1984-1988
1989
1990
1991-1992
1993-1994
1995-2000
10.50%
9.00%
8.75%
9.00%
9.50%
10.00%
GIC - $8,450,562.50
Prem - -0-
NIC - $8,450,562.50
9.77438%
3. Rauscher Pierce Refsnes
Inc., Mgr.
Underwood, Neuhaus &
Co.,Inc. Jt. Mgr.
Goldman, Sachs & Co.
Prudential-Bache Secur-
ities, inc.
3ear, Stearns & Co.
Kidder, Peabody & Co., Inc.
Paine Webber Jackson &
Curtis, Inc.
Schneider, Bernet &
Hickman, Inc.
John Nuveen & Co., inc.
Crews & Associates
Rotan Mosle, Inc., Jt. Mgr.
Merrill Lynch White Weld
Capital Markets Group,
Jt. Mgr.
Shearson/Am. Exp. Inc.
First Southwest Co.
1984-1986
1987
1988-1991
1992
1993
1994
1995-2000
11.00%
10.15%
9.00%
9.25%
9.50%
9.75%
10.00%
GIC - $8,455,631.25
Prem - 434.50
NIC - $8,455,196.75
9.779740%
11/17/82
Moroney, Beissner & Co., Inc.
Financial Advisors to the City of College
Station, Texas
003737
TUESDAY, ~ 16, 1982
7:00 P.M.
P~.~ASE SI~
2~.~ 19.
3 20.
9. 26.
10. 27.
11. 28.
12. 29.
13. 30.
14. 31.
15. 32.
16. 33.
17. 34.
003735