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195. Regular Meeting October 13, 2003 Page 5 residents to be owed a refund if property taxes are paid by October 23, 2003. Staff is working to determine the amount of refund. Ms. Narvaiz moved to adjourn into an Executive Session. Mr. Mihalkanin stated he felt the property tax issue was a separate issue to the disannexation. Ms. Narvaiz withdrew her motion. Mr. O'Leary stated he feels the property tax issue is pertinent to the disannexation. Mr. Thomaides stated he does not want to delay the Ordinance on third and final reading. Mr. Mihalkanin stated he would like the information regarding property taxes being paid by October 23, 2003. The Council then voted on adoption of the Ordinance on third and final reading. On roll call the following vote was recorded: AYE: Narvaiz, Thomaides, Mihalkanin, Habingreither, Montoya and Taylor. NAY: None. ABSTAIN: Diaz (disclosure affidavit-real property filed with City Clerk). Mayor Habingreither introduced for consideration adoption of a Resolution, the caption which was read as follows: A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, DIRECTING PUBLICATION OF NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION IN AN AMOUNT NOT EXCEEDING $10,005,000.00. Ms. Narvaiz moved for adoption of the Resolution and Mr. Mihalkanin seconded the motion. Mr. O'Leary reviewed the Certificates of Obligation Itemization. He stated if the Council desires to make the renovations to the Rio Vista Pool, then an additional $940,000.00 will be to be added to the Certificates of Obligation by an amendment. Mr. Diaz inquired whether the repairs to the Rio Vista Pool were mandatory. Mr. O'Leary stated the repairs would need to be made to the pool in order to open next summer. Mr. Rodney Cobb, Director of Parks and Recreation Department, stated the filter system does not comply with the current Health Codes. Mr. Diaz inquired whether the $940,000.00 was for the pool. He stated he feels the water park is a good ideal, but thinks the Council should consider this next year. Mr. Cobb stated if the Council was to consider the water park next year, it might end up costing the City more money if it is not included in the pool renovations. Mayor Habingreither stated he feels this could cost the City more with the engineering and contracting if the water park is not included. Mr. Montoya moved to add the $940,000.00 to the Certificates of Obligation. There was no second. Ms. Narvaiz inquired what would happen if the Council amended the Certificates of Obligation to include the $940,000.00, and then the Council decided not to do the project. Mr. Dan Wegmiller, First Southwest Company, stated if the Council chose not to do the project, then the money could be used to pay on debt. Ms. Narvaiz inquired whether it would be better to have the pool and the water park or just the water park. Mr. Cobb stated without the pool we would not be able to provide swimming lessons. Ms. Narvaiz stated she felt the Fountain People should donate the entire cost of the equipment. Mr. O'Leary stated Council could negotiate for a better deal. Mr. Montoya moved to amend the Certificates of Obligation to read.