08/20/1998, Special Meeting Minutes2295
1
MINUTES OF
KENNEDALE CITY COUNCIL
SPECIAL MEETING -AUGUST 20, 1998
100 EAST BROADWAY ST. - CONIMUNITY CENTER
Mayor Wright called the meeting to order at 6:32 p.m.
Members present: Mayor Wright, Councilmember's Clark, Barrett, Vaughn and Kovach.
Members absent: Councilmember Steeno.
Staff present: Ted Rowe, Kathy Turner, Lynette Whidden, Michael Box and bond counselor,
Chris Janning.
ITEM NO. 1-Presentation by Mr. Boyd London, First Southwest Financial Advisors.
First Southwest Financial Advisor, Mr. Chris fanning substituted for Boyd Lundon and presented
information to Council relating to proposed general obligation bonds, Series 1998. He also
reviewed the legal requirements for a bond election (General Obligation) as well as the
alternative, Combination Tax and Revenue Certificates of Obligation.
ITEM N0.2 -Budget discussion.
Council was presented the overall budget with the City Managers budget message, reductions and
deletion report, summary of debt by fiscal year, and fixed cost summary by fund.
In addition, the City Manager provided a water rate increase review, water and sewer impact fee
comparison, street rehabilitation cost estimates, and concrete repair estimates to existing streets.
ITEM N0.3 -Consideration of 1998 proposed tax rate and schedule public hearing.
Councilmember Kovach moved to propose a 1998 tax rate of $0.611377 per $100 of taxable
value and schedule a public hearing for September 8, 1998. Councilmember Barrett seconded the
motion. Motion carried with all members present voting in favor.
ITEM N0.4 -General discussion.
Discussion included impact fee amendments, assessment fees to non-citizen youths that
participate in KYA, street repairs, and council attendance.
There being no further discussion, Mayor Wright adjourned the meeting at 9:00 p.m.
ATTEST:
City Secret
APPROVED:
Mayor, Mark S. W ' t