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<br />27 <br /> <br />MINUTES OF THE SPECIAL MEETING OF THE <br />CITY COUNCIL OF ThE CITY OF SAN !1ARCOS, <br />TEXAS, JANUARY 7, 1987 <br /> <br />PRESENT : ~V1ayor <br /> <br />J. E. Younger <br /> <br />Mayor Pro-Tern <br />Council 1-1embers <br /> <br />* Betty Jane Kissler <br />Kar 1 ~v. Brown <br />Bill Coddington <br />Gerald G. Farr <br />Fred Guerra <br />**William C. Nicola <br /> <br />City Manager <br />City Secretary <br />City Attorney <br />Acting Director of Finance <br />Director of Planning <br /> <br />A. C. Gonzalez <br />Janis K. Womack <br />Lamar W. Hankins <br />Donna Farley <br />Frank Robbins <br /> <br />Also Present: Bill Newman, Rick Fisher, Ross Allegro, Patsy Greiner, <br />Melissa Millecam, Larry Dupont, Judy Mitchell, Henry Krause, Jorge <br />Rodriguez and others. <br /> <br />Mayor Younger called the meeting to order at 7:00 p.m. <br /> <br />Mayor Younger introduced the receiving of bids and consideration of <br />award of the sale of the City's Certificates of Obligation, Series <br />1987. Bill Newman of First Southwest Company advised the Council the <br />market was good today, being in the 6-1/2% range. He stated the City <br />received nine bids. Mr. Newman read the bids into the record as follows: <br /> <br />Merrill Lynch Capital Markets <br />Gross Interest Cost <br />Less Premium <br />Net Interest Cost <br />Effect <br /> <br />$1,214,393.96 <br /> <br />6.7254% <br /> <br />MBank Capital Markets <br />Gross Interest Cost <br />Less Premium <br />Net Interest Cost <br />Effective <br /> <br />$1,206,151.46 <br /> <br />6.679812% <br /> <br />Republic Bank-Dallas <br />Gross Interest Cost <br />Less Premium <br />Net Interest Cost <br />Effective <br /> <br />$1,253,287.60 <br /> <br />6.940858% <br /> <br />Underwood Neuhaus & Co., Inc. <br />and Associates <br />Gross Interest Cost <br />Less Premium <br />Net Interest Cost <br />Effective <br /> <br />$1,188.447.50 <br /> <br />6.581766% <br /> <br />Rotan Mosle (Paine Webber, <br />Inc. ) <br />Gross Interest Cost <br />Less Premium <br />Net Interest Cost <br />Effective <br /> <br />$1,214,790.42 <br /> <br />6.727656 <br /> <br />*Ms. Kissler was not present at this meeting. <br />** Mr. Nicola was present at 8:16 p.m. <br />