02/08/1996, Pre Council Workshop Meeting Minutes2201
MINUTES OF
KENNEDALE CITY COUNCIL
PRE COUNCIL WORKSHOP - FEBRUARY 8, 1996
100 E. BROADWAY ST. - COMMUNITY CENTER
6:30 PM
Mayor Abbott called the meeting to order at 6:40 p.m.
Members present were Mayor Abbott, Councilmen Wright, Mundy, Boone and
Kovach. Councilman Barrett was absent.
Staff in attendance were Ted Rowe, Kathy Turner and Vicki Thompson.
Also present were Mr. C.N. Guinn representing Guinn & Scott, and Mr.
Jason Wilcox with First Southwest Advisors.
ITEM NO. 1 - Audit Review.
Mr. C.N. Guinn stated that the city's finances were overall in very good
condition with an increase in cash as well as, an increase in investment
income resulting from an overnight sweep account.
Councilman Mundy questioned the library audit. Mr. Guinn said he was
very pleased with the records maintained by F.O.L.K.
ITEM NO. 2 - Discussion on Finance Options.
Ms. Vicki Thompson, Director of Finance advised Council that financing
the radio equipment would be removed from the Certificate
leaving the fire truck financing and the refinancing o of Obligations
f water system
improvements which will result in an issue of $434,597.
Next, Ms. Thompson explained that an Ordinance would need to be approved
to authorize the intent to issue and that the Ordinance would override
the Reimbursement Resolution.
In closing, Ms. Thompson said Council could elect to withdraw the
reimbursement resolution and pass the notice of intent, or pass both
resolutions.
ITEM NO. 3 - General Discussion.
There being no further discussion, Mayor Abbott adjourned the workshop
at 7:10 p.m.
APPROVED:
Mayor Bill Abbott
ATTEST:
~~D~i~
City Sec etary