02/16/1976-CC-Minutes-RegularMinutes: City Council Meeting
February 16,1976
Presents Mayor Cornell, Halls,Er T. Moore, McDaniel, Stover
Others Present:a: R. Cole, L. Carr, B. Johnson
Absent: E. Moore, Cooper
Sanger Electric capital improvementss After an explanation of
several items on the invoice, it was moved by Thomas Moore and
amount of `*49607.44 be approved.
3. Water line to Tansey Co.s The alternate proposal for the water
line crossing at Willow'.Street instead of Bolivar Street, and
the cost figure were discussed. Enlow.moved to table for further
study. It was agreed that this item be considered at the special
called meeting on February 249 1976.
4. Items 4 and 5 on the agenda were deleted due to the absence of
the City Administrator,
5. Special called meetings It was agreed unanimously tv hold a
special called meeting at 7:00 p.m., February 249 1976 to pass
the needed resolutions authorizing the issuance of utility
revenue bonds.
6. January budget reports January 'budget report was received by
the Council. There were no questions.
7. Other matterss
a. Benny Johnson came before the council to discuss the little
league baseball association. 1) The association would like
the City to take the park over and see if there is any grant
money available. 2) They want to know if there are programs
such as man power offered at one time to employ teenage
lower level income children in the maintenance and up keep
of the park. 3) The association would like the City to help
now in the cleaning up of the area and fixing the road to
the park.
b. Lindon Carr presented the ...plans and specifications for the
new distribution line to the new high school site. He gave
an estimated cost of $34,018.61 for material and labor.
This would include a 7200 bank from the school to Diane
Drive. Statement was made by Carr that it was Brazos'
responsibility to find a site for the sub station.
c. Mayor stated he would get with the school within the next
two weeks and pin them down with regards to the land.
d. Private club was discussed and the City Administrator is
to inquire from JoYin L. Sullivan our present policy on
Annexation,
Meeting adjourned at 8:18 p.m.
r -
Mayor
NTinutesz Special Council Meeting
February 24, 1976
Presents Mayor Cornell, Cooper, Hall, Enlow, McDaniel, Moore,
City Administrator
1. Sale of ;series 1976 utilitybondst The Mayor gave a report
on the Texas Water Quality Bvard hearing on Sanger's application
for a water quality enhancement loan. The loan was approved.
Mr. Dan Almon, the City's financial advisor was present to
explain the proposed maturity schedule for the.sale of $3059000
in revenue bonds. Almon & Co. made an offer to purchase the
$140,000 in open market bonds at a graduated interest rate
ranging from 5.0 to 7,25%. The Mayor asked the City Adminis
trator to call an officer of the First National Bank of Sanger
and offer the bonds to them. The bank stated they would inform
the City of their decision the next day. The Council decided a
public sale of the bonds would be too time consuming. It was
moved by McDaniel and seconded by Cooper to accept an offer from
the bank if the interest rate was at or below Almon & Company's
offer, if not, then to accept the Almon & Co. offer. Motion
carried 5-0.