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~ ~ <br />Minutes Regular Meeting <br />La Porte City Council <br />February 14, 1994, Page 2 <br />Mayor Malone stated Council has been asked to discuss Item 12 <br />as the next item of business. <br />12. Council considered resolution authorizing advance refunding <br />for certain of the City's General Obligation and Water and <br />Sewer Revenue Bonds. <br />Director of Finance Jeff Litchfield introduced the City's <br />financial advisors Mr. David Fetzer, Moss Fetzer and Pete <br />Fisher of Moroney, Beissner & Company, Inc. Mr. Litchfield <br />gave Council an overview of the Staff Analysis and methods <br />involved in the General Obligation and Revenue Debt Refunding <br />process reported in staff's recommendations. Council <br />discussed the issues with Mr. Litchfield and Mr. David Fetzer. <br />City Manager Robert T. Herrera made a couple of observations <br />to the Council regarding the report. <br />Staff's final recommendation was to proceed with the steps <br />necessary for a successful refunding, as long as the saving to <br />the City were within a 10$ range of the amounts presented. <br />City Attorney read: RESOLUTION 94-03 - A RESOLUTION <br />AUTHORIZING ADVANCE REFUNDING FOR CERTAIN OF THE CITY'S <br />GENERAL OBLIGATION AND WATER AND SEWER REVENUE BONDS; FINDING <br />COMPLIANCE WITH THE OPEN MEETINGS LAW; AND PROVIDING AN <br />EFFECTIVE DATE HEREOF. <br />Motion was made by Councilperson Sutherland to anurove <br />Resolution 94-03 as read by the Citv Attornev. Second by <br />Councilperson Gay. The motion carried, 9 ayes and 0 nays. <br />Ayes: Councilpersons Sutherland, Cooper, Thrower, <br />McLaughlin, Porter, Gay, Maxwell, Clarke and Mayor <br />Malone <br />Nays: None <br />The Council proceeded with the regular order of business as <br />the Agenda stated. <br />5. Mayor Malone read the staff recommendation for Employee of the <br />Quarter. The recipient was Kay Fox of the Fire Department. <br />Fire Chief Joe Sease and EMS Chief Chris Osten presented Kay <br />with her plaque. Council and staff congratulated Kay on her <br />accomplishments. <br />6. Mayor Malone presented a Certificate of Appreciation to Mr. <br />Wayne Anderson who resigned from the Planning and Zoning <br />Commission as the representative from District 2. Council <br />commended Mr. Anderson for his work and dedication to the <br />