11251985 Regular Meeting - Laserfiche WebLink

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5 Regular Meeting November 25, 1985 Page 5 Mr. Strange agreed they would pay an additional $4,000 for the filing of the second MUD. Mr. Brown expressed his concern for the City at the earliest possible time to adopt a Water Conservation Ordinance for MUDs and his concern for the impact these MUDs have on surrounding farmland. On roll call for adoption of the Ordinance on emergency, the following vote was recorded: AYE: Brown, Craddock, Guerra, Kissler, Nicola. NAY: None. ABSTAIN: Coddington. Mayor Craddock introduced for consideration adoption of an Ordinance on emergency, the caption which was read as follows: AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN ~.ARCOS, TEXAS, AUTHORIZING THE ISSUANCE OF $730,000 CITY OF SAN MARCOS, TEXAS, COMBINATION TAX AND REVENUE REFUNDING BONDS, SERIES 1985; AWARDING THE SALE OF SAID BONDS; AND CONTAINING PROVISIONS NECESSARY AND INCIDENTAL THERETO; AND DECLARING AN EMERGENCY. Ms. Kissler moved for adoption of the Ordinance on emergency and Mr. Guerra seconded the motion. Ms. Kissler moved to amend the Ordinance in Section 2. to add the following interest rates: 1986 8% 1987 8% 1988 6.3% 1989 6.7% 1990 7%; and in Section 20. to show the purchaser as MBank of Dallas, Texas, plus a premium of "$0.00", and Mr. Guerra seconded the motion, which passed unanimously. The Council then voted unanimously for adoption of the Ordinance. Mayor Craddock introduced for consideration the Paying Agent/Registrar Agreement in connection with the above issuance of Bonds. Ms. Kissler moved for approval of the Agreement and to authorize MBank of Austin, Texas as the Paying Agent/Registrar and Mr. Guerra seconded the motion. Mr. Coddington moved to amend the Agreement to add the date November 25, 1985 and Mayor Craddock seconded the motion, which passed unanimously. The Council then voted unanimously for approval of the Agreement. Mayor Craddock introduced for consideration adoption of a Resolution approving the form and content of a Linlited Offering Memorandum with respect to the Refunding Bonds (no caption). Mr. Coddington moved for adoption of the Resolution and Mayor Craddock seconded the motion. Mayor Craddock moved to amend the Resolution to add the word "Regular" Session in the last sentence of the Resolution and Mr. Coddington se- conded the motion, which passed unanimously. Mr. Guerra moved to amend the listing of Elected Officials to show his occupation as Staff Counselor rather than Dormitory Director and Ms. Kissler seconded the motion, which passed unanimously (Mr. Coddington not present to vote on this item). The Council then voted unanimously for adoption of the Resolu- tion.