HomeMy WebLinkAbout07/29/1966 - Special Minutes - City CouncilMINUTES OF SPECIAL MEETING
July 29, 1966
On July 29, 1966, a special meeting of the College Station City Council was
called for the purpose of hearing a report of a committee earlier appointed by the
council, with respect to payment for lands acquired through condemnation for the
underpass on Farm Road 60.
The mayor presented the report for the committee, said committee being composed
of City Attorney Dillon, Councilman Holt and Mayor Anderson.
The report, as submitted to the council for their consideration, recommended
that the council go on record as adhering to the amount of the award originally
offered by the Commissioner's Court, being a response to Judge W. C. Davis' letter
of February 15, 1966 as addressed to the city manager.
A motion was made by Councilman Holt that the mayor be instructed to notify
County Judge W. C. Davis to the effect that the city is not interested in promoting
a settlement of increase of the award of the Condemnation Court. Motion was
seconded by Councilman Rhodes. Motion passed.
Councilman Rhodes presented to the council a proposal of the City Parks
Committee asking its endorsement of a proposed survey of the citizens with respect
to city parks and recreational needs. On motion by Councilman Rhodes, seconded
by Councilman Rosprim, the proposal was adopted. Comments were made with respect
to the need for including more specific information as it related to use of the
parks.
At an informal meeting preceeding the special council meeting, the city
council heard from Messrs. Brown and Fetser of Moroney, Beissner & Co. of Houston
relative to the issuance of bonds in connection with the proposed water expansion
program. The council agreed to the acceptance of the proposal as recommended by
Brown shown on attachment, such combining previous bond issues and being an obliga-
tion against water, sewer and electric light facilities.
The meeting was adjourned subject to call.
APPROVED:
Mayor
ATTEST:
City Secretary
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CITY OF COLLEGE STATION, TEXAS
WATERWORKS, SEWER SYSTEM AND ELECTRIC REVENUE BONDS
Total Rev
Fiscal
Reqmts.
New Total
Year
Excluding
8650,000
New Issue
Revenue
Ending
50M 1951
Interest
Require-
equire-6
0
6/30
Bonds
Principal
@ 4-1/2%
Total
ments
z
1967
$25,300
$30,000
$29,250
$59,250
$84,550
I
Irl
1968
25,852
30,000
27,900
57,900
83,752
V)C
1969
25,377
30,000
26,550
56,550
81,927
CL
1970
24,902
30,000
25,200
55,200
80,102
Ob
1971
251427
30,000
23,850
53,850
79,277
D
Ct
0
1972
20,905
30,000
22,500
52000
73,405
1973
20,500
30,000
21,150
51,150
71,650
1974
20,070
30,000
19,800
49,800
69,870
1975
20,640
30,000
18,450
48,450
69,090
1976
20,180
30,000
17,100
47,100
67,280
1977
19,720
30,000
15,750
45,750
65,470
1978
20,260
30,000
14,400
44,400
64,660
1979
20,770
30,000
13,050
43,050
63,820
1980
20,217
30,000
11,700
41,700
61,917
1981
201665
30,000
10,350
40,350
61,015
1982
20,079
30,000
9,000
39,000
59,079
1983
24,495
30 000
7,650
37,650
62,145
R
1984
23,747
30,000
6,300
36000
60,047
1985
301000
4,950
34,950
34,950
1986
30,000
3,600
33,600
33,600
LO
1987
30,000
2,250
32,250
32,250
W
tL
1988
20,000
900
20,900
20,900
$399,106
$650,000
$331,650
$981,650
$1080,756
0
Average
- $62,762
Ulu
Combined Systems Available
For Debt Service Year Ended 6/30/65...$275,050
- Average Annual Debt Service
Requirements ..........................$ 62,762
Coverage of Annual Debt Service
Requirements, Average ................. 4-38X
Coverage of Annual Debt Service
Requirements, Maximum ................. 3.25X
7/20/66
The $650,000 of new bonds include $50,000 refunding of old Water Bonds.