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28 MINUTES OF THE SPECIAL MEETING OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, AUGUST 4, 1986. Present: Mayor J. E. Younger Council Members *Karl W. Brown *Bill Coddington Gerald G. Farr *Fred Guerra Betty Jane Kissler William C. Nicola City Manager A. C. Gonzalez City Attorney Lamar Hankins City Secretary's Office Susan N. Ripps Assistant City Manager Robert T. Herrera Director of Public Works George Boeker Others present: Amy Shaw, Patty Sullivan, Melissa Millecam, Larry DuPont, Daniel Corbett, Syd Newman, Jim Gandy, Larry Franks, Rayford Price, Jack Cates, and others. Mayor Younger called the meeting to order at 9:00 p.m. Mayor Younger introduced for consideration adoption of a Resolution, the caption which was read as follows: A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MAR- COS, TEXAS, DIRECTING PUBLICATION OF NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION, AND DECLARING AN EF- FECTIVE DATE. Mr. Farr moved to discuss the Resolution, and Ms. Kissler seconded the motion. City Manager Gonzalez stated that the ultimate goal was to meet the deadline of September 1, 1986. He presented several plans of action for the Council to consider as options. Plan A-Revenue Bonds: Would need Justice Department clearance, Public Utility Clearance, Rating and State Attorney General; Plan B-Certificates of Obligation with tax pledge: No Justice Department Clearance, Tax Problem; Plan C-Certificates of . Obligation without tax pledge: No Justice Department clearance, Public Utility Commission, possible Attorney General availability problem. Plan A-Revenue Bonds: This plan is the original course of action the voters of the City approved. Ms. Kissler stated she would like the Council to use this plan. She stated that if we did make the deadline that would be great, but if we didn't make the deadline, there would not be much difference in reduction of bonds. She stressed a concern with Plan B & Plan C. Mr. Farr was opposed to Plan B. He did not want to have a tax pledge. Mr. Gonzalez stated that the tax pledge would speed up the process by a few days. C.O.'s with a tax pledge would mean that the Attorney Gen- eral would not have to personally come down for the sale. Mr. Larry Franks stated his concerns with Plan B and Plan C. He urged the Council to pro- ceed with the original Plan-Revenue Bonds. Ms. Patty Sullivan stated the same concern as Mr. Franks. She also urged the Council proceed with Plan A-Revenue Bonds. City Manager Gonzalez stated that the proposed Res- olution would be a good alternative to possibly beat the September deadline if the Revenue Bond Plan A could not be met in time. Mr. Franks again stressed and urged the Council to proceed with Plan A-Revenue Bonds. Ms. Sullivan concurred with him. Mr. Gonzalez stated that he wanted the Council to be informed regarding the strategies they could take. Ms. Kissler moved to amend Exhibit A - the last sentence, to delete the following language: "and the levy of ad valorem taxes" and Mayor Younger seconded the motion which passed unanimously. The Council then voted on the Resolution, all voting to deny adoption of the Resolution. TEe Council will proceed with Plan A-Revenue Bonds. * Messrs. Brown, Coddington and Guerra were not present at this meeting.