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3 Regular Meeting December 16, 1988 Page 3 He stated the cost of education is not declining, and there is a continuing need for educational loans. He stated after the Council's approval of this Resolution, a public hearing must be conducted, and then adoption of a Resolution for the issuance of $25,000,000.00, with $15,000,000.00 in the market for new loans. The public hearing and adoption of the Resolution for issuance of the bonds is scheduled to occur in January, and Mr. Davis is to provide the Council with a schedule. CTHEA requested the Council consider the following amendments, which Mr. Hankins read into the record: in the third preamble on the third line, delete are purchased for and substitute of, in the fourth line of the same preamble after Authority, add are acquired, in the same preamble in the eighth line delete financIng and add acquisition, in the same line delete bonds to be used to purchase; in Section 2 in the seventh line, delete-purchãSIng-and add acquisition; in Section 3 in the fourth line, delete purchasing and add acquisition, in the second paragraph in Section 3 in the fourth line, delete $150,000,000.00 and add $100,000,000.00 and in the fifth and sixth lines of the same paragraph, delete purposes expressed herein and add purpose of acquiring additional student loan notes. Mr. Brown moved to amend the Resolution as read into the record by Mr. Hankins and Mr. Moore seconded the motion, which passed unanimously. The Council then voted unanimously for adoption of the Resolution. Mr. Guerra moved the Council adjourn into Executive Session pursuant to Article 6252-17, Section 2(e), V.A.C.S., to discuss pending litigation (LCRA Rate Case #8400, LCRA Rate Case #8032 Appeal), and matters where the duties of the City Attorney to the City pursuant to the Code of Professional Responsibility of the State Bar of Texas clearly conflicts with Article 6252-17, and Mr. Hernandez seconded the motion, which passed unanimously (12:50 p.m. - Mr. Guerra left the meeting at 12:50 p.m.). Mr. Brown moved the Council reconvene at 1:25 p.m. and Mr. Hernandez seconded the motion, which passed unanimously. r:y~~. ~ Billy G. Moore Council Member 1(. IJ tJ. ÇJlYð<ÞV'-- (t~ W. Brown Council Member The meeting adjourned at 1:27 p.m. on motion made by Mr. Hernandez and seconded by Mr. Brown. ~.~~ ¿ll.?f ~ Rick Hernandez~ :~:b6.tVV\A Mayor Pro-Tern \ I J.:.TTES.. T :. ..... ). ... -_./1.. . J. .. ' ~. ,,\-j/ ~71/ J~ L~ M1tAt:; J.' ¡ ¿~/ 'h~ nis K. Womack City Secretary