12062011 Regular Meeting - Laserfiche WebLink

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23. Consider approval of Ordinance 2011 -72, on the first and final reading, authorizing the issuance and sale of not to exceed $8,090,000 City of San Marcos, Texas, combination Tax and Revenue Certificates of Obligation, Series 2011, for the purpose of paving contractual obligations incurred or to be incurred for: (1) improving and extending the City's Electric System, including downtown underground lines, FM 2439 Hunter Road electric improvements, reconductor Ranch Road 12 feeders and replacing substation transformers, and (2) the payment of professional services in connection therewith including legal, fiscal and engineering fees and the costs of issuing the Certificates of Obligation providing for the security for and payment of said certificates; prescribing the form of said certificates; awarding the sale thereof, approving the official statement; and enacting other provisions relating to the subject; declaring an emergency; and providing an effective date; and receive an update on General Obligation Refunding Bonds approved on November 1, 2011. MOTION: Upon a motion made by Council Member Scott and a second by Council Member Becak, the City Council voted (7) for and (0) opposed, to approve Ordinance 2011 -72, as previously captioned. The motion carried unanimously. 24. Consider approval of Ordinance 2011 -73, on the first of two readings, amending the City's 2011 - 2012 budget to budget expenditures in the total sum of $7,552.37 from State Seized Asset Funds to provide for the purchase of police badges and patches; and providing an effective date. MOTION: Upon a motion made by Council Member Porterfield and a second by Council Member Scott, the City Council voted (7) for and (0) opposed, to approve Ordinance 2011 -73, as previously captioned. The motion carried unanimously. 25. Consider approval of Ordinance 2011 -74,on the first of two readings, designating a contiguous geographic area within the City of San Marcos bounded by Concho Street, Moore Street, North Street, Comanche Street, Shady Lane, Fredericksburg Street, Hull Street, Guadalupe Street, I11-35, McKie Street, LBJ Drive and Cm Allen Street (approximately 244 acres) as a reinvestment zone for tax increment financing purposes pursuant to Chapter 311 of the Texas Tax Code; creating a Board of Directors for such zone; containing findinns and provisions related to the foregoing subject; and providing a severability clause. MOTION: Upon a motion made by Council Member Scott and a second by Council Member Thomason the City Council voted (7) for and (0) opposed, to approve Ordinance 2011 -74, as previously captioned. The motion carried unanimously. 26. Consider approval of Ordinance 2011 -75,on the first of two readings, authorizing the use of unexpended proceeds from the Series 2008 Bonds; and other matters related thereto. MOTION: Upon a motion made by Council Member Scott and a second by Council Member Thomason, the City Council voted (7) for and (0) opposed, to approve Ordinance 2011 -75, as previously captioned. The motion carried unanimously.