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<br />28 <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />Special Meeting May 13, 1985 Page 3 <br /> <br /> <br />Mr. Guerra moved for adoption of the Resolution and Mayor Craddock <br />seconded the motion, which passed unanimously. <br /> <br />Messrs. Bill Harrison and Rick Fisher returned to the Council Chambers <br />and recommended award of bid to Prudential Bache Securities, Inc. <br />Mayor Craddock moved to award bid to Prudential Bache Securities, Inc. <br />for the sale of $3,020,000 General Obligation Bonds and Mr. Brown se- <br />conded the motion, which passed unanimously. <br /> <br />Mayor Craddock introduced for consideration adoption of an Ordinance <br />on emergency, the caption which was read as follows: <br /> <br />AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN <br />MARCOS, TEXAS, AUTHORIZING THE ISSUANÇE OF $3,020,000 <br />CITY OF SAN MARCOS, TEXAS, GENERAL OBLIGATION BONDS, <br />SERIES 1985; PROVIDING FOR THE TERMS AND CONDITIONS <br />OF SAID BONDS; AWARDING THE SALE OF SAID BONDS; CON- <br />TAINING PROVISIONS NECESSARY AND INCIDENTAL THERETO; <br />AND DECLARING AN EMERGENCY. <br /> <br />Mr. Farr moved for adoption of the Ordinance on emergency and Mayor <br />Craddock seconded the motion. The blanks on Page 2 in Section 2. <br />Date; Maturities and on Page 18, Section 17. Sale of the Bonds need- <br />ed to be completed. Mr. Rick Fisher read the information into the <br />record as follows: <br /> <br />Section 2. <br />Year Interest Rate Year Interest Rate <br />- - <br /> <br />1986 11.10% 1995 8.10% <br />1987 11.10% 1996 8.25% <br />1988 11.10% 1997 8.40% <br />1989 11.10% 1998 8.50% <br />1990 11.10% 1999 8.60% <br />1991 11.10% 2000 8.625% <br />1992 11.10% 2001 8.10% <br />1993 11.10% 2002 8.10% <br />1994 11.10% 2003 8.10% <br /> <br />Section 17. Sale of the Bonds. "The sale of the Bonds to Prudential <br />Bache Securities, Inc. and Associates. . .". <br /> <br />Mayor Craddock moved to amend the Ordinance to include the information <br />read into the record by Mr. Fisher and Mr. Guerra seconded the motion, <br />which passed unanimously. The Coun~il then voted unanimously for adoption <br />of the Ordinance on emergency. <br /> <br />The meeting adjourned at 8:07 p.m. on motion made by Mayor Craddock and <br />seconded by Mr. Guerra. ~ '. <br /> <br />~(P~ <br /> <br />Emm i.. e cr~ad. dOCk. / <br /> <br />~aY <br />'< / po.. <br /> <br />~1I ad l~g ~? -: ~ <br /> <br />Council Member <br /> <br />~¡ Cv~~ <br />F{(¿ Guerra <br />Council Member <br />