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<br />adjourned regular meeting, may 29, 1967
<br />
<br />page two
<br />
<br />The Mayor opened and read aloud four bids on a pump to
<br />be purchased by the City. Dr. Pool moved that ~he low
<br />bid be accepted, if the City Manager determined that all
<br />specifications had been met. Dr. Craddock seconded the
<br />motion, which passed unanimously.
<br />
<br />Gene Rourke of Ranson & Co" Fiscal Agent for the City,
<br />explained his findings on the proposed sale of $300,000
<br />revenue bonds, discussing interest rates, etc. He said
<br />that under current HUD policy, if a City has applied for
<br />a grant, it is not eligible for a loan. Mr. Rourke said,
<br />however, San Marcos is eligible for a $300,000 loan at
<br />4~ % interest, becaus~the City had not applied for a
<br />HUD grant on this portion of its project.
<br />Councilman Whittenberg moved that the Fiscal Agent be
<br />authorized to proceed with an application for a $300,000
<br />loan from the Federal Government, at 4! % interest.
<br />Dr. Pool seconded the motio~ and on roll call, the follow-
<br />ing vote was recorded:
<br />
<br />AYE: Craddock, Damon, Flores, Korff, Pool, Serur,
<br />Whittenberg
<br />
<br />NAY:
<br />
<br />None
<br />
<br />The Mayor declared the motion carried.
<br />
<br />The meeting adjourned at 6:15 p.m.
<br />
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<br />Ma y c>r
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<br />Emmie Craddock, Ph.D.
<br />Councilwoman
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<br />
<br />Caesar A. Damon
<br />Councilman
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<br />Councilman
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<br />Herman Korff' ' " ,.
<br />Councilman
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<br />William C. Pool, Ph.D.
<br />Councilman
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<br />City Se rjetary
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<br />Mark H. Whi ttenber'gi
<br />Councilman
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