09/15/1998, Special Meeting Minutes2302
MINUTES OF
KENNEDALE CITY COUNCIL
SPECIAL MEETING -SEPTEMBER 15, 1998
100 E. BROADWAY ST. -COMMUNITY CENTER
Mayor Wright called the meeting to order at 7:00 p.m.
Members present: Mayor Wright, Councilmembers Clark, Barrett, Vaughn and Kovach.
Members absent: Councilmember Steeno.
Staff present: Ted Rowe, Kathy Turner, Lynette Whidden, Michael Box, and Thad Chambers.
Councilmember Barrett gave the invocation.
ITEM NO. 1-Consideration of Ordinance No. 155 -Adopting the budget for
Fiscal Year 1998/1999.
Councilmember Barrett moved to approve Ordinance No. 155, adopting the budget for fiscal year
1998/1999, seconded by Councilmember Clark. Motion carried.
ITEM NO. 2 -Consideration of Economic Development Corporation budget for Fiscal
Year 1998/1999.
Councilmember Ban ett moved to approve the economic development corporation budget for
fiscal year 1998/1999, seconded by Councilmember Vaughn. Motion carried.
ITEM NO. 3 -Consideration of Ordinance No. 156 -Adopting 1998 tax rate of $0.611377
per $100 of taxable value.
Councilmember Barrett moved to adopt the 1998 tax rate of $0.611377 per $100 of taxable value,
seconded by Councilmember Clark. Motion carried.
ITEM NO. 4 -Discussion of possible bond projects.
Discussion began with Mr. Chris Jenning of First Southwest Financial Advisors who presented
councilmembers with a tax supported debt plan tax rate impact, 25-year amortization for a
$2,000,000.00, $2,500,000.00, and $3,000,000.00 debt obligation.
Next, council discussed several options as to what projects they would like to see completed with
a consensus of approximately $2,000,000.00 going towards streets, $1,000,000.00 towards a
municipal complex, and $2,000,000.00 towards water improvements, the later of which would be
funded through Water Fund revenues.
Council's next step is to consider a resolution at the October 8, 1998, regular meeting, which will
authorize First Southwest Financial Advisors to proceed with the tax certificates and obligations.
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ITEM NO. 5 -General discussion.
General discussion included:
• A donation to the Park Board
• Ambulance Service
• Acquisition of property
There being no further discussion Mayor Wright adjourned the meeting at 8:34 p.m.
APPROVED:
Mayor, Mark S. Wrig
ATTEST:
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City Secr tary
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