HomeMy WebLinkAbout05/17/1960 - Special Minutes - City Council® MINUTES OF SPECIAL MEETING
May 17, 1960
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Members present: Mayor Langford; Councilmen Orr, Landiss, Sorrels, Anderson,
W Boyett, Smith; City Manager Boswell; City Attorney Dillon.
The main purpose of the meeting was to discuss the budget for the fiscal
W year beginning July 1, 1960. With minor adjustments agreed upon, the city man-
0- ager was instructed to prepare the budget in final form for a public hearing.
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2 On motion by Councilman Anderson, seconded by Councilman Landiss, a
:D public hearing on the budget was set for 7:00 P.M. June 27, 1960.
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O City Manager Boswell reviewed the financial status of improvements on
mWalton Drive, Kyle and Lee Streets, pointing out that it would be necessary
for the city to borrow $40,000.00 to meet payment upon completion of construc-
tion.
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On motion by Councilman Orr, seconded by Councilman Landiss, the mayor
and city manager were authorized to negotiate a loan of $40,000.00 with the
College Station State Bank to retire the indebtedness on Walton Drive, Kyle
and Lee Streets.
The mayor reported that the Board of Firements Relief & Retirement Fund
Trustees requested that the city consider supplementing retirement funds in
the event monies received by the board prove to be insufficient to pay retire-
ment benefits in any one year. Action on the request was postponed pending the
final census count and the possibility of the increase in funds in the event
the population figure exceeds 10,000.
Meeting adjourned subject to call.
ATTEST:
City Secretary
APPROVED:
Mayor
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