HomeMy WebLinkAbout04/26/1973 - Special Minutes City CouncilMINUTES
SPE CIA L CITY CO UNCIL MEE TING
April 26, 1973
2:00 P.M.
ME MBE RS PRE SE NT:
Mayor J. B. Hervey; Councilmen Fred Brison, Homer
Adams, Don Dale, J. D. Lindsay, R. D. Radeleff and
C. A. Bonnen; City Manager Ran Boswell; Engineer
George Ford; Director of Public Works Louie Dulaney;
Water and Sewer Superintendent Bennie Luedke
ME MBE RS A BSE NT: None
VISITORS PRESENT: See Guest Register
A special city council meeting was called to order at 2:00 P.M. on April 26,
1973 by Mayor Hervey. The purpose of this meeting was to find ways md means
of financing a sanitary sewer project, the reason being that the Council is fearful
that the application we have in with the Texas Water Quality Board more than likely
will not be funded due to impounding of funds by President Nixon. The cost of the
proposed project as estimated today is in the amount of $789,500.00. City Manager
Boswell proposed a financing scheme to do this work provided the city does not re-
ceive the grant within a reasonable length of time. The proposal is as follows:
Sale of $500,000.00 in Revenue Bonds;
1972 Revenue Sharing Funds $72,631.00;
Revenue Sharing for four quarters in the fiscal year 1973 $93,600.00;
Total amount of money to be available for this scheme of financing - $666,231.00.
City Manager Boswell recommended that $123,535.00 be transferred from the General
Fund to the Construction Fund to balance off the project cost of $789,500.00. On motion
by Councilman Dale, seconded by Councilman Radeleff, the Councilman unanimously
authorized the City Engineer to proceed and advertise for bids as soon as possible and
directed the work on the sanitary sewer system along Highway 6 which would serve
Sterling and Richards Subdivisions and property to the south.
On motion by Councilman Brison, seconded by Councilman Bonnen, the Council unani-
mously agreed that the City should start legal work on the sale of the $500,000.00
revenue bonds.
As there was no other business to discuss, the meeting was adjourned, subject to call.
APPROVED:
ATTEST:
City Secretary