1997-04-07 CITY COUNCIL SPECIAL MEETING MINUTES121
MINUTES OF A SPECIAL MEETING OF THE CITY COUNCIL OF THE CITY OF
PEARLAND, TEXAS, HELD ON APRIL 7, 1997, AT 6:00 P. M. IN THE COUNCIL
CHAMBERS, CITY HALL, 3519 LIBERTY DRIVE, PEARLAND, TEXAS.
The meeting was called to order with the following present:
Mayor
Mayor Pro Tem
Councilmember
Councilmember
Councilmember
Councilmember
City Manager
City Attorney
Interim City Secretary
Tom Reid
Jerry Richardson
Kevin Cole
Helen Beckman
Richard Tetens
Larry Wilkins
Paul Grohman
Amy McCullough
Wendy Standorf
Others in attendance: Economic Development Director Glen Erwin.
NEW BUSINESS:
ORDINANCE NO. 781 - FIRST AND ONLY READING OF ORDINANCE NO. 781 - AN
ORDINANCE OF THE CITY COUNCIL OF THE CITY OF PEARLAND, TEXAS,
AUTHORIZING AN AGREEMENT REGARDING THE CONSTRUCTION AND
MAINTENANCE OF STREET AND BRIDGE IMPROVEMENTS, APPROVING THE PEDC
RESOLUTION AUTHORIZING THE ISSUANCE OF THE PEARLAND ECONOMIC
DEVELOPMENT CORPORATION SALES TAX REVENUE BONDS, SERIES 1997 AND
AUTHORIZING A CONTINUING DISCLOSURE UNDERTAKING IN CONNECTION WITH
SUCH BONDS; MAKING VARIOUS FINDINGS AND PROVISIONS RELATED TO THE
SUBJECTS; AND DECLARING AN EMERGENCY.
Councilmember Richardson made the motion, seconded by Councilmember Cole, to
approve Ordinance No. 781 on its first and only reading.
City Manager Paul Grohman informed Council that the Pearland Economic Development
Corporation had moved to sell bonds in the amount of $5,000,000 for public works
projects. This would include the overpass and other projects as funds allow. First
Southwest was the winning bid with a net effective rate of 5.60544474%; and he
recommends approval.
Mr. Grohman further stated that the delivery of funds should be in approximately 30 days.
We will go out for bid in the summer and should be able to drive on the overpass in late
summer or early fall of 1998.
City Attorney Amy McCullough advised Council that they would be passing this
ordinance subject to the agreement being modified, regarding the construction and
maintenance.
City Manager Grohman added that the name of the purchaser and the interest rate would
be added to the documents as well.
Voting "Aye" Councilmembers Beckman, Tetens, Richardson, Wilkins and Cole.
Voting "No" None.
Motion passed 5 to 0.
ADJOURNMENT:
The special meeting adjourned at 6:07 P. M.
7A
utes approved as submitted and/or corrected this the day of
A. D., 1996.
a
Tom eid
Mayor
ATTEST:
PAI 4N A. 1h 1
endy t dorf
Interim Cit Secretary
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