05131985 Special Meeting - Laserfiche WebLink

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27 Special Meeting May 13, 1985 Page 2 6. Prudential Bache Securities, Inc. Gross Interest Cost $3,160,947.08 Less: Premium -0- Net Interest Cost $3,160,947.08 Effective 8.6950% = 8.695067898% 7. Clayton Brown & Associates, Inc., Chicago Gross Interest Cost $3,169,140.41 Less: Premium $ 2,331.59 Net Interest Cost $3,166,808.82 Effective 8.711192% 8. Bear, Stearns & Co. Gross Interest Cost $3,213,329.17 Less: Premium -0- Net Interest Cost $3,213,329.17 Effective 8.83916% 9. Rauscher, Pierce, Refsnes, Inc., Dallas (First Southwest Company included) Gross Interest Cost $3,216,218.75 Less: Premium $ 594.35 Net Interest Cost $3,215,624.40 Effective 8.845473% Messrs. Bill Harrison and Rick Fisher left the Council Chamber to review the bids received and advised they would return with a recom- mendation later in the meeting so that the Council could award bid. Mayor Craddock moved to Agenda Item SA, and introduced for considera- tion adoption of a Resolution, the caption which was read as follows: A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, APPROVING THE TERMS AND CONDITIONS OF A PROPOSED PIPE LINE LICENSE AGREEMENT BETWEEN SAID CITY AND THE MISSOURI-KANSAS-TEXAS RAILROAD COMPANY FOR THE INSTALLATION AND MAINTENANCE OF TWO (2) SIXTY INCH (60") CORRUGATED METAL STORM DRAINAGE PIPES IN SAID CITY AND UPON RAILROAD COMPANY RIGHT- OF-WAY AT MILE POST M-5l.7; AUTHORIZING THE EXECUTION OF SAID AGREEMENT AND ANY AND ALL OTHER DOCUMENTS AND INSTRUMENTS INCIDENT THERETO BY THE MAYOR; AND DECLAR- ING AN EFFECTIVE DATE. Mayor Craddock moved for adoption of the Resolution and Mr. Guerra se- conded the motion, which passed unanimously. Mayor Craddock 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 MARCOS, TEXAS, DECLARING THE NECESSITY OF ACQUIRING AN EASEMENT INTEREST IN REAL PROPERTY FOR A PUBLIC PURPOSE, TO-WIT: THE CONSTRUCTION AND MAINTENANCE OF AN UNDERGROUND STORM DRAINAGE SYSTEM FOR THE CON- VEYANCE OF STORM WATER; AUTHORIZING AND DIRECTING THE CITY ATTORNEY TO ACQUIRE AN APPRAISAL OF THE FAIR MARKET VALUE OF SUCH INTEREST IN SAID PROPERTY AND TO MAKE AN OFFER FOR THE PURCHASE OF SAID PROPERTY IN AN AMOUNT EQUAL TO THE FAIR MARKET VALUE OF SUCH EASEMENT INTEREST IN SAID PROPERTY AS DETERMINED BY SAID APPRAISAL, OR TO OTHERWISE ACQUIRE SAID INTEREST IN SAID PROPERTY THROUGH VOLUNTARY ACQUISITION OR, UPON THE FAILURE OF SUCH VOLUNTARY ACQUISITION, TO INSTITUTE EMINENT DOMAIN PROCEEDINGS; AND, DECLARING AN EFFECTIVE DATE.