12161996 Regular Meeting - Laserfiche WebLink

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4 Regular Meeting December k6, 1996 Page 4 Moody's was management has been proactive, both on Council and Staff levels. Standard and Poor's noted two specific issues, the Edwards' situation and regional issues the City faces, and were pleased the City is trying to stay a step ahead in the game. Three of the biggest factors rating agencies look at are economic conditions of the area, financial conditions of the issuer and the management in place. We need to have all three to have a very positive rating. -- To have them report they are confident in the management team in place, and have great relationships with management and Staff is very important for them to have open dialogue to contact Staff and receive answers. They confirmed an outstanding rating of A, and Moody's also confirmed an outstanding rating of A, which is an excellent rating for a City our size. "A" is definitely above average. This all reflects back on our bond sale. The City received three bids on the bond sale: Legg Mason submitted a bid of 5.630869%, Southwest Securities submitted a bid of 5.5935% and Dean Witter Reynolds submitted a bid of 5.6017%. These are all excellent rates. With the Texas Water Development Board issue we had a 4.3% interest rate, but on those issues an up front origination fee to the Water Board, and by paying that fee they knock off a full percentage point of the market rate, so that rate actually converts over to 5.3. The market has not shifted a full point; the City actually subsidized that rate with the up front fee~ Mr; Hart asked if Mr. Wegmiller's review of S&P and Moody's rating comments could be provided to the media, and Mr. Wegmiller stated he would be happy to provide their comments and will try to secure them, but stated they generally offer their comments in oral discussion and not written form. Mr. Rick Fisher stated the three amendments reflect the terms of the bid submitted by Southwest Securities as the highest and best bidder. The Council then voted unanimously for adoption of the Ordinance on emergency and as amended. Mr. Hart stated he appreciated the reason for the emergencies being added on the agenda request sheets. Mayor Moore introduced for consideration approval of an Ordinance on first reading, the caption which was read as follows: AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, RECLASSIFYING ONE POSITION OF SERGEANT IN THE POLICE DEPARTMENT TO THE POSITION OF LIEUTENANT IN ACCORDANCE WITH SECTION 2.373 OF THE SAN MARCOS CITY CODE AND SECTION 143.021 OF THE LOCAL GOVERNMENT CODE; AMENDING THE TABLE OF POLICE POSITIONS MAINTAINED IN THE CITY SECRETARY'S OFFICE TO REFLECT THIS RECLASSIFICATION; AND INCLUDING PROCEDURAL PROVISIONS. Mr. Guerra moved to deny the Ordinance and Mr. Mihalkanin seconded the motion. In answer to Mr. Guerra's question, Mr. Gilley advised this Ordinance will establish the Lieutenant position. Mr. Gilley advised we once had a Lieutenant position and did not have the Captain position. The Lieutenant position was changed to Captain. There are presently four Captain positions. Mr. Guerra (1) does not think it is logical to abolish positions and create an administrative position, (2) the Council was advised in the last week or so the Staff is in the process of preparing a strategic planning report for the Police Department and it would be forthcoming, and suggested Council wait for the report before adding staff positions at the Police Department, and (3) if we are, looking at enhancing working conditions for the Police Officers, he I is not convinced the creation of a Lieutenant's position will. achieve that. Mr. Guerra stated on the agenda request form in the - second paragraph of the project and proposal summary, it states on the average two-thirds of the patrol division works after 5:00 p.m. Up to eighteen officers including sergeants and corporals are on duty at night. There is no command level supervisory position in the Division to work the night shift. This creates accountability, uniformity and supervisory problems. Is there any law that legally prohibits Captain positions from being assigned to an evening shift. Mr. Taylor stated there is no legal prohibition. Mr. Gilley stated with regard to the last issue, Captains can be assigned to any shifts. Although that particular statement indicates 5:00 p.m., that indicates the normal work day, and certainly does not mean a Captain is never on duty before 8:00 a.m. or after 5:00 p.m.,