1980-07-30 Special Called Meeting

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Special Called Ming - 7/30180 • page 2 • 1983 thru 1984 7.50% Prem None 1995 thru 7.3./4% NIC 3,104,675 1996 thru 1997 8.% EIR 7,74233% 1998 thru 8.20% 1999 thru 7% Rolls Winston Division of Cowen & Company: Maturities Coupons Inte rest Cost 1981 thru 1986 9% GIC 3,113,062.50 1987 thru 1988 7.3/4% Prem None 1989 thru 1992 ?% NIC 3,113,062.50 1993 thru 7.30% EIR 7,7632% 1994 thru 1995 7.5% 1996 thru 1999 8% 1ST City National Bank of Houston: Maturities Cou ons Interest Cost 1981 thru 1984 8.5° GIC 3,091,875 1985 thru 1988 7.5% Prem None 1989 thru 1993 7% NIC 3,091,875 1994 thru 1995 7.5% EIR 7.7104% 1996 thru 1997 8% 1998 thru 1999 8.25% Bids were tabula ted by Da vid Fetzer to ascertain if bids had been tobulated c orrectly and papers in order. Dick Richards read THE ORDINANCE AUTHORIZING THE ISSUANCE, SALE AND DELIVERY OF THE CTTY'S $3,850,000.00 GENERAL OBLIGATION AND REFUNDING BONDS, SERIES 1980, PROVTDING THE DETAILS RELATING THERETO AND DECLARING THAT SATD ORDINANCE SHALL BE EFFECTIVE IMMEDIATELY UPON TTS ADOPTION. David Fetzer announced his calculation showed the bids were all in order and he recommended the bid from FIRST CITY NATIONAL BANK OF HOUSTON be accepted. A motion was made by Commissioner Cline to accept the bid sub- mitted by First City National Bank of Houston and adopt Ordinance No. 1222 as read by Mr. Richards. The motion was seconded by Commissioner Simons. Motion carried 4-ayes and 0-nays. AYES: Commissioners Tomerlin, Kibodeaux, Cline and Simons. NAYS: None 3. The contract extending water and sewer service from the City of Deer Park to serve the Lomax area was presented for the City Commissions consideration. After lengthy discussion by the Commission, a motion was made by Commissioner Kibodeaux author- izing the Mayor to sign the contract extending the La Porte (Lomax)-Deer Park water and sewer agreement to January 1, 1981