2005-10-24 Regular Meeting, Public Hearing and Workshop Meeting of City Council

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City Council Regular Meeting, Public Hearing and Workshop Meeting — October 24, 2005 Page 4 FACT RELATED TO THE SUBJECT; FINDING COMPLIANCE WITH THE OPEN MEETINGS LAW; AND PROVIDING AN EFFECTIVE DATER HEREOF;. Motion was made by Council member Moser to approve Ordinance 1501-U4& #R05-005. Second by Council member Griffiths. The motion carried. Ayes: Mosteit, Rigby, Moser, Clausen, Beasley, Ebow, Griffiths and Mayor Porter Nays: None Abstain: None 11. Council to consider approval or other action regarding a resolution declaring intention to reimburse certain expenditures with borrowing proceeds for automated meter reading. Assistant Finance Director Michael Dolby presented summary and recommendation and answered Council's questions. Assistant City Attorney Clark Askins read: RESOLUTION 2005-21 — A RESOLUTION DECLARING INTENTION TO REIMBURSE CERTAIN EXPENDITURES WITH BORROWING PROCEEDS FOR AUTOMATED METER READING. Motion was made by Council member Clausen to approve the Resolution 2005-21 as presented by Mr. Dolby. Second by Council member Griffiths. The motion carried Ayes: Mosteit, Moser, Beasley, Ebow, Clausen, Griffiths and Mayor Porter. Nays: None Abstain: None Council member Rigby was not present at the table for this vote. 12. Council to consider approval or other action regarding a resolution to amend Investment Policy. Assistant Finance Director Michael Dolby presented summary and recommendation and answered Council's questions. Assistant City Attorney Clark Askins read: RESOLUTION 2005-22 — A RESOLUTION OF THE CITY OF LA PORTE, TEXAS, AMENDING AN INVESTEMENT POLICY CONFIRMING TO ALL STATUTES GOVERNING INVESTMENT OF THE CITY OF LA PORTE'S FUNDS, INCLUDING, BUT NOT BY WAY OF LIMITATION, THE PUBLIC FUNDS INVESTMENT ACT, CHAPTER 2256, TEXAS GOVERNMENT CODE; FINDING COMPLIANCE WITH THE OPEN MEETINGS LAW; AND SETTING AN EFFECTIVE DATE THEREOF. Motion was made by Council member Ebow to approve the Resolution 2005-22 as presented by Michael Dolby. Second by Council member Griffiths. The motion carried Ayes: Mosteit, Rigby, Moser, Beasley, Ebow, Clausen, Griffiths and Mayor Porter. Nays: None Abstain: None It was noted the changes are on page 11. 13. Council to consider approval or other action to instruct the Assistant City Manager to amend the various operating budgets for outstanding purchase orders, encumbrances and budget rollover requests.. Assistant Finance Director Michael Dolby provided City Council with a summary and recommendation.