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178. Regular Meeting August 12, 2002 Page 5 THE FORM OF SAID BONDS; AWARDING THE SALE THEREOF; APPROVING THE OFFICIAL STATEMENT; ENACTING OTHER PROVISIONS RELATING TO THE SUBJECT; AND DECLARING AN EMERGENCY. Mr. Mihalkanin moved for adoption of the Ordinance on emergency with amendments as provided by Rick Fisher, Bond Counsel, and Mr. Mayhew seconded the motion. Dan Wegmiller stated he is a Consultant with First Southwest Company who handles the City's bonds. He explained the amendments are the results from pricing, insurance and surety commitments. He stated the City has a very good Bond Rating. Standard and Poors rating report gave the City an "A" rating on the electric refunding and Moody's rated "A3". He also stated this Ordinance is the authorization of the issuance of $13,590,000 with insurance, and the purchase of a surety bond reserve policy freed up $1 million to put back into the system. Rick Fisher, the City's Bond Attorney, with Fisher and Newsom, stated this is an excellent sale. The Council then voted unanimously for adoption of the Ordinance with amendments on emergency. Mayor Habingreither 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, ANNEXING TO THE CITY A TRACT OF LAND CONTAINING 15.31 ACRES, MORE OR LESS, LOCATED ADJACENT TO THE 1600-1700 BLOCKS OF POST ROAD (BERRY TRACT); APPROVING A SERVICE PLAN FOR THIS TRACT; INCLUDING PROCEDURAL PROVISIONS; AND DECLARING AN EFFECTIVE DATE. Mr. Taylor moved for approval of the Ordinance on first reading, and Ms. Tatum seconded the motion, which passed unanimously. Mayor Habingreither 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, ANNEXING TO THE CITY A TRACT OF LAND CONTAINING 1,448.06 ACRES, MORE OR LESS, LOCATED OFF OF IH-35 NORTH, NORTH OF THE BLANCO RIVER, INCLUDING THE CHAMPIONS CROSSING AND SADDLEBROOK SUBDIVISIONS (NORTH IH-35 TRACT); APPROVING A SERVICE PLAN FOR THIS TRACT; INCLUDING PROCEDURAL PROVISIONS; AND DECLARING AN EFFECTIVE DATE. Mr. Mihalkanin moved for approval of the Ordinance on first reading and Mr. Mayhew seconded the motion. Ms. Narvaiz then moved to table the Ordinance for thirty days and Mr. Taylor seconded the motion, which passed unanimously. Mayor Habingreither introduced for consideration approval of an Ordinance on first reading, the caption which was read as follows: