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• <br />Minutes, Special Called Meeting <br />La Porte City Council <br />July 5, 1989, Page 6 <br />Mr. David Fetzer, Moroney & Beissner, then addressed Council <br />and announced that eight bids on the bonds had been received. <br />Mr. Fetzer then opened and read each bid. The bids were then <br />tabulated by Mr. Fetzer, Pete Fischer. <br />Mr. Paul Martin, of McCall, Parkhurst & Horton, reviewed the <br />Ordinance to be passed in connection with the sale of the <br />bonds. <br />Mr. Fetzer announced that the bids had been tabulated and were <br />mathematically accurate, and that the bid of the syndicate <br />managed by the NCNB Texas, offering the City an effective rate <br />of 6.985387 is the best bid and meets the condition of the <br />terms of the notice of sale. He recommended that the City <br />award the sale of the bonds to NCNB Texas. <br />Item 8 was then addressed: Consider ordinance authorizing the <br />issuance of $4.5 million City of La Porte, Texas, General <br />Obligation Bonds, series 1989; execution of a paying <br />agent/registrar agreement; and all other matters related <br />thereto, including immediate effectiveness - Ordinance 1652. <br />Motion was made by Councilperson Skelton to adopt Ordinance <br />1652. Second by Councilperson Clarke. The motion carried, <br />8 ayes and 0 nays. <br />Ayes: Councilpersons Waters, Cooper, Matuszak, Shipp, Gay, <br />Skelton, Clarke and Mayor Malone <br />Nays: None <br />18. Council considered authorizing the city to negotiate and enter <br />a contract for implementation and training of an electronic <br />hand-held meter reading system. <br />Motion was made by Councilperson Shipp to authorize <br />of an electronic hand-held meter reading system, not to exceed <br />25 000. Second by Councilperson Waters. The motion carried, <br />7 ayes and 0 nays (Councilperson Gay was away from the table) . <br />Ayes: Councilpersons Waters, Cooper, Matuszak, Shipp, <br />Skelton, Clarke and Mayor Malone <br />Nays: None <br />