01.30.1967 CC Minutes3 X30
SPECIAL CALLED MEETING OF THE.KENtiEDALE CITY COU~tiCIL
JANUARY 30, 1967
Ma;,or 4v'ebb called the meeting to order at 8:15 P. M. Council members
present were Mrs. Evelyn Blissard, Don '". Lyon, Bobby Vaughan,. and
John J. Biondi, Jr. Cecil Lyon was the .only absent member.
I. The Mayor explained that the meeting was called for the purpose of
_ raising money for the expenditures of materii~,.supplies and Engineer-
ing fees, to further our water and sewer projects.
2. Frank B. '~1cMahon & Co. made a proposal to purchase Interest Bearing
_ Time Warrants to finance the projects in part or entire whichever the
case might be. A copy of the proposal is attached to these minutes.
3. Bobby Vaughan made the motion to accept the proposal. Don T. Lyon
_ made the second and it carried unanimously.
4. Mrs. Elissar.d mad the motion to adopt Ordinance #67-1 directing
publicatiorj c5f notice to bidders for the City for the improvements.
_ John J. Biondi, Jr. made the second and the motion carried unanimous-
ly.
5. The meeting adjourned at 8:55 Pb4.
APPROVED
MAYOR B. T. WEBB
ATTEST f2~ ~~ ih~~~ ,~~r
CITY SECRETARY
D
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l~lc~:berships
Municipal Advisory Council of Texas
Investment Bankers Association o/ America
Texas Croup - /.B.A.
~'~~~ C~ EEi~. ~~/4H®101 & CO., INC./Texas Municipal Bonds . K I R I Y I U I L D I N 6 D A t l A S, T E X A S
January 18, 1967
Hon. City Council
City of Kennedale
r~ennedale, Texas
Gentlemen: ~?tt: I,7r. B. T. Z~Jebb, I;Iayor
You have advised us that Capitol expenditures are necessary for
I:"aterial, Supplies and Engineering fees. Further, that you tivish
to pay for the above with Legally Issued General Obligation
t'~rai:rants of the City. crank B. P,ici~Iahon & Co., Inc. is to purchase
these ~larrants, from the rec~iptient~ at their face value. You
agree to pass all orders, certificates, etc., as requested '~y
I~:~cCall, Parkhurst and Horton, for the necessary Refunding of the
warrants into Refunding Bonds, which shall also bear interest at
six (6~) percent.
;;~;e agree to purchase said above ~Jarrants fro,n the recipients, and
it is agreed that McCall, Parkhurst and Horton shall approve of ~
all proceedure in issuance of the ;Varrants.
gees of I:7cCall, Parkhurst and Horton, cost of printing both the
"~arrants and Refunding bonds and the Comptroller's registration
fees shall be paid for by us.
It is our understandi~~g that 1`~Iarrants will '..;e issued in an amount
not to exceed j20,O00.O0. For our services, underwriting and as
an expense allovrance you shall pay to us a fee of .`~I,66~.00 fro:
current funds, at the time we take up and pay for the warrants.
It is our great pleasure to again serve you as your Investment
Banker. This letter vrill serve as'an agreement betvleen us.
Y~o)urs ve/ry truly,
Frank B. I.Icl~dahori
FINANCING AND REFINANCING TEXAS CITIES, SCHOOLS, COUNTIES AND SPECIAL SUBDIVISIONS
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