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85 Special Meeting May 2ID, 1991 Page 3 Mayor Morris introduced for consideration adoption of an Ordinance on emergency, the caption which was read as follows (Agenda Item 5.A.): AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, AUTHORIZING THE ISSUANCE AND SALE OF CITY OF SAN MARCOS, TEXAS, GENERAL OBLIGATION BONDS, SERIES 1991, IN THE AGGREGATE PRINCIPAL AMOUNT OF $3,595,000, PRESCRIBING THE FORM OF SAID BONDS; PROVIDING FOR THE SECURITY FOR AND PAYMENT OF SAID BONDS; AWARDING THE SALE THEREOF; APPROVING THE OFFICIAL STATEMENT; ENACTING OTHER PROVISIONS RELATING TO THE SUBJECT; AND DECLARING AN EMERGENCY. Ms. Kissler moved for adoption of the Ordinance on emergency and Mr. Moore seconded the motion. Mayor Morris moved to amend the Ordinance on Page 5, Section 3.02 (b) to add the following interest rates: 1993 9.00% 2000 6.10% 1994 9.00% 2001 6.20% 1995 9.00% 2002 6.30% 1996 9.00% 2003 6.40% 1997 9.00% 2004 6.50% 1998 9.00% 2005 6.60% 1999 6.00% 2006 6.25% and Mr. Moore seconded the motion which passed unanimously. Mr. Moore moved to amend the Ordinance on Page 28, Section 13. Ol to read as follows: liThe Bonds are hereby officially sold and awarded to Prudential Bache Securities, Inc., and Associates, at a price of par, plus accrued interest from the date of the Bonds to the Closing Date, and a premium $-0-", and Mr. Hart seconded the motion which passed unanimously. The Council then voted unanimously for adoption of the Ordinance on emergency. Mayor Morris introduced for consideration adoption of an Ordinance on emergency, the caption which was read as follows (Agenda Item 5.B.): AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAL;, AUTHORIZING THE ISSUANCE AND SALE OF C.ITY OF SAN MARCOS, TEXAS, WATERWORKS AND SEWER SYSTEM REVENUE BONDS, SERIES 1991, IN THE AGGREGATE PRINCIPAL AMOUNT OF $850,000, PRESCRIBING THE FORM OF SAID BONDS; PROVIDING FOR THE SECURITY FOR AND PAYMENT OF SAID BONDS; AWARDING THE SALE THEREOF; APPROVING THE OFFICIAL STATEMENT; ENACTING OTHER PROVISIONS RELATING TO THE SUBJECT; AND DECLARING AN EMERGENCY. Mr. Moore moved for adoption of the Ordinance on emergency and Ms. Kissler seconded the motion. Mayor Morris moved to amend the Ordinance on Page 5, Section 3.02(b) to add the following interest rates: 1993 9.00% 2000 6.30% 1994 9.00% 2001 6.40% 1995 9.00% 2002 6.50% 1996 9.00% 2003 6.50% 1997 9.00% 2004 6.50% 1998 9.00% 2005 6.50% 1999 6.45% and Mr. Hart seconded the motion which passed unanimously. Mr. Guerra moved to amend the Ordinance on Page 35, Section 14.01 to read as follows: liThe Bonds are hereby officially sold and awarded to Barre and Company, Inc., and Associates, at a price of par, plus accrued interest from the date of the Bonds to the Closing Date, and a premium of $-0-", and Ms. Kissler seconded the motion which passed unanimously. The Council then voted unanimously for adoption of the Ordinance on emergency. The meeting adjourned at 8:28 p.m. on motion made by Mr. Guerra and seconded by Mr. Moore.