05/15/1985-CC-Minutes-Special142.
City Secretary
MINUTES:
MEMBERS
PRESENT:
MEMBERS
ABSENT:
Special Called
May 15, 1985
Mayor
City Council Meeting
Mayor Armstrong, Danny Spindle, Jerry Jenkins, and
Carolyn Adkins
Wendall Thomas and Freddy Inman
OTHERS
PRESENT. Lloyd Henderson, Mary Jo Stover, and Dan Almon
1. Mayor Armstrong declared the Special Called Meeting open
and gave the invocation.
Dan Almon, financial advisor, gave a brief concept of
financing of the Utility Revenue Bonds. The Bonds total to
$845,000 of which $290,000 were voted. It was noted that
the City of Sanger has a Baa Bond rating. The payout on
the bonds will be 16 years. The average annual principal
and interest requirements will be $236,693 which includes
prior debt service. Almon discussed the requirements for
financing, arbitrage, and debt service.
Council set the dates of May 23rd and May 30th for the
publication dates of the city's intention to issue revenue
bonds. The Special Called meeting was set for June 12,
1985 at 7:00 p.m.
Danny Spindle made the motion to adopt the resolution
authorizing publication of notice of intention to issue
City of Sanger Utility System Revenue Bonds, Series 1985,
in the Principal Amount of $555,000. Carolyn Adkins gave
the second. Voted unan.
Danny Spindle gave the motion to adjourn. Jerry Jenkins
gave the second. Voted unan.
City Secretary
Mayor
MINUTES: City Council
May 20, 1985
PRESENT: Mayor Armstrong, Jerry Jenkins, Danny Spindle,
Freddy Inman, H. W. Thomas, and Carolyn Adkins.
OTHERS PRESENT: Lloyd Henderson, Mary Jo Stover, Glenn Shaw,
J. C. Landers, Fred Henry, C. G. McNeill,.
Bob Roberts, Benny Erwin, Don Waddell, B. McMurray,
Mary LaRue, Mr. & Mrs. Bud Hauptman, Mike Norman,
and Stuart Hertgodt.