1981-02-23 CC MinutesCITY OF FARMERS BRANCH
CITY COUNCIL
MINUTES OF A SPECIAL MEETING
FEBRUARY 23, 1981
COUNCIL CHAMBER
POLICE BUILDING
12:30 P.M.
The following members of the City Council were present:
Mayor Bill Binford
Mayor Pro Tem John Dodd
Councilmen: Ken Quevreaux
Fred Johnson
Herb Weidinger
Pat Haggerty
The following members of the City Administration were present:
City Manager Paul M. West
City Secretary J. W. Wade
City Attorney John Boyle
Recording Secretary Ruth Ann Parish
Mayor Binford called'the Special City Council meeting of
February 23, 1981 to order at 12:30 p.m.
EMERGENCY ITEM DECLARED.
A motion by Councilman Johnson, a second by Councilman Quevreaux,
all voting "aye", declared an emergency and added to the Agenda
as Item No. 2-Discuss Proposed Legislation.
AGENDA ITEM NO. 1-TO CONSIDER PASSAGE OF AN ORDINANCE AUTHORIZING
THE ISSUANCE OF $550,000.00 CITY OF FARMERS BRANCU, TEXAS COM-
BINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION.
Mayor Binford stated bids have been received and tabulated for
the sale of $550,000.00 in General Obligation and Hotel/Motel
Tax Certificates of Obligation.
Mayor Binford asked City Secretary J. W. Wade to give a report
on this item. Mr. Wade introduced Mr. Corkey Mall, Fiscal Agent
representing First Southwest Company, who discussed the bids
received. Mr. Hall stated that the low bid was from Mercantile
National Bank at 7.4941° interest rate and recommended to accept
the bid.
A motion by Councilman Johnson, a second by Councilman Dodd,
all voting "aye", approved Ordinance No. 1342 authorizing the
issuance of $550,$00.00 City of Farmers Branch, Texas combination
Tax and Revenue Certificates of Obligation to Mercantile National
Bank with an interest rate of 7.4941%. Ordinance No. 1342 is
captioned:
Vol. 34, page 92
AN ORDINANCE BY THE CITY COUNCIL OF THE CITY OF
FARMERS BRANCH, TEXAS, AUTHORIZING THE ISSUANCE
OF $550,000.00 "CITY OF FARMERS BRANCH, TEXAS,
COMBINATION TAX AND REVENUE CERTIFICATES OF OBLI-
GATION, SERIES 1981," DATED FEBRUARY 1, 1981,
UNDER AND PURSUANT TO THE AUTHORITY CONTAINED IN
THE CERTIFICATES OF OBLIGATION ACT OF 1971, AS
AMENDED, FOR THE PURPOSE OF OBTAINING FUNDS FOR
THE PURCHASE OF LAND FOR AUTHORIZED PURPOSES
NAMELY FOR HISTORICAL PRESERVATION AND FOR THE
PAYMENT OF NECESSARY AND INCIDENTAL EXPENSES
RELATED THERETO; PRESCRIBING THE FORM OF THE
CERTIFICATES AND THE FORM OF THEIR INTEREST COUPONS;
LEVYING A CONTINUING DIRECT ANNUAL AD VALOREM TAX ON
ALL TAXABLE PROPERTY WITHIN THE LIMITS OF SAID CITY
AND PLEDGING A PORTION OF THE REVENUES DERIVED BY
THE CITY FROM THE LEVY AND COLLECTION OF THE HOTEL-
OCCUPANCY TAX AUTHORIZED BY ARTICLE 1269]-4.1,
V.A.T.C.S., TO PAY THE INTEREST ON SAID CERTIFICATES
AND TO CREATE A SINKING FUND FOR THE REDEMPTION
THEREOF, AND PROVIDING FOR THE ASSESSMENT AND COL-
LECTION OF SUCH TAXES AND HANDLING OF SAID REVENUES;
PROVIDING FOR THE SALE AND DELIVERY THEREOF; AND
ENACTING PROVISIONS INCIDENT AND RELATING TO THE
PURPOSE AND SUBJECT OF THIS ORDINANCE.
AGENDA ITEM NO. 2-DISCUSS PROPOSED LEGISLATION.
This item was requested on the Agenda by Councilman Haggerty.
Mayor Binford asked City Manager Paul West to explain this item.
Mr. West explained that the Council had drafted a bill relating
to the Levee District and there was controversy between the bill
by the City and the one drafted by the Farmers Branch-Carrollton
Flood Control District. Mr. West stated that, at the direction
of the Council, he, John Boyle, Larry Craddock, Don Blackwood,
and Paul Phy had met to study the two bills. There was a second
meeting between himself, Larry Craddock and Bill, Blanton. Mr.
West stated he felt that the two entities were very close to
reaching a compromise. The terms agreed to are;
1. The staggered terms will be as is;
2. The filling of vacancies will be by the governing bodies;
3. The removal for cause will be as defined in the counter
proposal by the Levee District.
An agreement which will be recommended to the two bodies is
when there is a dissolution of the District, the indebtedness
will remain with the land within the District. There would
have to be an agreement reached on the tax base before the two
city Councils could dissolve the District. The District has been
asked to research this base and make a recommendation. The
District also wants the right to remove members from the Board
for cause, however, not the right to approve the action of the
City Councils.
Vol,. 34, Page 93
After some discussion, a motion by Councilman Haggerty, a
second by Councilman Dodd, all voting "aye", agreed with the
changes and to leave the amount of tax base of the District
open so the City Administration can negotiate and bring
recommendations to the City Council.
AGENDA ITEM NO. 3-ADJOURNMENT.
A motion by Councilman Dodd, a second by Councilman Haggerty,
all voting "aye", adjourned the Special Meeting of the City
Council of February 23, 1981 at 12:56 p.m.
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Mayor
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Vol. 34, Page 94