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35. Regular Meeting November 10, 2003 Page 4 Mr. Mihalkanin moved to adopt the Ordinance on emergency and Ms. Narvaiz seconded the motion. Dan Wegmiller of First Southwest Company presented the Council with a packet which updated the Council on the City Bond ratings. He stated Moody's gave the City an A2 rating. He stated the key to rating is good planning. Rick Fisher, Bond Counsel, congratulated the Council on their Bond Ratings. Mr. Mihalkanin moved to amend the Ordinance resulting from pricing on the Bonds and Insurance Requirements and Ms. Narvaiz seconded the motion, which passed unanimously. The Council then voted unanimously for adoption of the Ordinance on emergency. Mayor Habingreither introduced for consideration adoption of an Ordinance on emergency, the caption which was read as follows: AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, AUTHORIZING THE ISSUANCE AND SALE OF CITY OF SAN MARCOS, TEXAS, COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION, SERIES 2003; PROVIDING FOR THE SECURITY FOR AND PAYMENT OF SAID CERTIFICATES; PRESCRIBING THE FORM OF SAID CERTIFICATES; AWARDING THE SALE THEREOF; APPROVING THE OFFICIAL STATEMENT; ENACTING OTHER PROVISIONS RELATING TO THE SUBJECT; AND DECLARING AN EMERGENCY (in the amount of $10,005,000.00) . Mr. Mihalkanin moved for adoption the Ordinance on emergency and Ms. Narvaiz seconded the motion. Dan Wegmiller of First Southwest Company presenc.ed the Council with a packet which updated the Council on the City Bond ratings. He stated Moody's rating was A1 and S&P's rating was A+. Rick Fisher, Bond Counsel, congratulated the Council on their Bond Ratings. Mr. Mihalkanin moved to amend the Ordinance resulting from the bid of Legg, Mason, Wood, Walker, Inc. and Ms. Narvaiz seconded the motion, which passed unanimously. The Council then voted unanimously for adoption of the Ordinance 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, SETTING A FEE FOR RETURNED CHECKS IN ACCORDANCE WITH SECTION 2.541 OF THE CITY CODE; INCLUDING PROCEDURAL PROVISIONS; AND PROVIDING FOR PENALTIES. Ms. Narvaiz moved for approval of the Ordinance on first reading and Mr. Taylor seconded the Ordinance. Mr. Mark Taylor stated the Ordinance needs to be amended to read $30.00 instead of $25.00. Mr. Taylor moved to amend Recitals 2 and Section 1 to read, $30.00 and Ms. Narvaiz seconded the motion, which passed unanimously. The Council then voted unanimously for the approval of the Ordinance on first reading. Mayor Habingreither introduced for consideration approval of minutes of the Regular Meeting held October 27, 2003, adoption of two Ordinances on third and final reading and adoption of eleven Resolutions, on consensus. The Council removed Items #24 and #25, adoption of Resolutions, to be considered separately. Mr. Montoya moved for approval of minutes of the