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The City Council of the City of Taylor met on July 21, 2005, at City Hall, 400 Porter St., Taylor, Texas.  Mayor Don Hill declared a quorum and called the meeting to order at 6:00 p.m. with the following present:

 

Mayor Don Hill                                                  City Manager Frank Salvato

Mayor Pro Tem John McDonald                        City Clerk Susan Brock

Council Member Rod Hortenstine      

Council Member Bernabe Gonzales

Council Member Ella Jez

 

           

REGULAR AGENDA – REVIEW/DISCUSS & CONSIDER/ACTION:
           

1.      CONSIDER $5.1 MILLION GENERAL OBLIGATION BOND, PRELIMINARY OFFICIAL STATEMENT AND RECEIVE UPDATE ON GENERAL OBLIGATION (GO) BOND SALE FROM FIRST SOUTHWEST COMPANY.
Frank Salvato, City Manager, reminded Council that this item was removed from the first meeting’s agenda and rescheduled for this council meeting to due to an error in the posting language.  The word “million” was inadvertently left off after the $5.1 and staff was advised that it would be best to repost the item with the correct wording.

Ms. Jennifer Douglas with First Southwest presented an overview of the Bonds being considered and reviewed the Preliminary Official Statement with Council members and city staff.  Comments were made, questions asked, and changes made as needed.  If Council approves this agenda item, Ms. Douglas will return at the next meeting to present the actual sale of the bonds.  Mayor Pro Tem McDonald made a motion to approve the Preliminary Official Statement with corrections as noted and Council member Hortenstine seconded the motion.  VOTE:  Five voted AYE.  Motion passed.   

 

2.      2005/2006 BUDGET WORKSHOP I.
Mr. Salvato presented an extensive overview of how this budget process is progressing and what materials council members have received to date.  Council members presented questions and concerns to Mr. Salvato throughout the evening and staff responded to specific areas of interest as needed.   The seconded workshop is scheduled for July 28 and will continue in more detail with revenue funds.

 

ADJOURN

With no further business, the council meeting was adjourned at 11:15 p.m.

 

                       

                        _________________________

                        Donald R. Hill, Mayor

ATTEST:

 

___________________________

Susan Brock, City Clerk