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Home My WebLink About1975-12-02 Regular Meeting CITY OF GRAPEVINE, TEXAS A GENDA REGULAR CITY COUNCIL MEETING TUESDAY, DECEMBER 2, 1975 AT 7:30 P.M. COUNCIL CHAMBERS - 413 MAIN STREET I. CALL TO ORDER II. INVOCATION - Councilman Dunn III. CITIZENS REQUEST AND/OR MISC. REPORTS AND DISCUSSIONS A. Mr. Frank Medanich, of First Southwest Corporation, to appear before the Council to discuss the issuance of bonds. B. Mr. Huey Ball to appear before the Council to discuss the drawing of plans for the proposed sub-fire station and a contract for same. IV. CONSIDERATION OF THE MINUTES (November 25) V. OLD BUSINESS A. City Council to review and consider accepting the master plan for the Oak Grove Park Project. B. City Council to appoint a member to the Joint Airport Zoning Board. VI. NEW BUSINESS A. City Council to consider a resolution commending Mr. Bill Yancey for his diligent work while serving as a member of the Grapevine Housing Authority. �3 IN ACCORDANCE WITH ARTICLE 6252-17, V.A.T.C.S. , AS AMENDED BY CHAPTER 227, ACTS OF THE 61ST LEGISLATURE, REGULAR SESSION, THE REGULAR CITY COUNCIL MEETING AGENDA WAS PREPARED AND POSTED ON THIS THE 28TH DAY OF NOVEMBER, 1975, AT 1:00 P.M. CIT SECRETARY STATE OF TEXAS X COUNTY OF TARRANT X CITY OF GRAPEVINE X The City Council of the City of Grapevine, Texas convened in regular session at 7 : 50 P.M. on this the 2nd day of December, 1975 with the following members present to-wit: �� William D. Tate Mayor Thelma Conine Councilwoman Bob Murphy Councilman Larry Oliver Councilman Doil Dalton Councilman constituting a quorum with Charles Dunn and Willis Pirkle absent with Floy Ezell City Manager Jim Hancock Assistant City Manager Kenneth Pritt City Secretary Ray Hutchinson Acting City Attorney Mayor Tate called the meeting to order. The Invocation was given by Councilman Dalton. The first order of business was for the City Council to consider a resolution commending Mr. Bill Yancey for his diligent work while serving as a member of the Grapevine .� Housing Authority. The City Secretary read the proposed resolution. Councilman Murphy made a motion to approve the resolution as read. The motion was seconded by Council- woman Conine and prevailed by the following vote: Ayes : Tate, Conine, Murphy, Oliver, and Dalton Noes : None Absent: Dunn and Pirkle Mayor Tate then presented the resolution to Mr. Yancey y and thanked him on behalf of the City for his many years of diligent service. RESOLUTION NO. 75-36 A RESOLUTION EXPRESSING COMMENDATION AND APPRECIATION FOR THE UNTIRING AND VALUABLE SERVICE RENDERED TO THE CITY OF GRAPEVINE BY WILLIAM H. (BILL) YANCEY, SR. WHILE SERVING AS A MEMBER OF THE GRAPEVINE HOUSING AUTHORITY. The next order of business was for Mr. Frank Medanich, of First Southwest Corporation, to appear before the Council to discuss the issuance of bonds. Mr. Medanich stated that the City could issue $300,000. of G. O. Bonds at this time. Herthen presented the Council with two bond schedules (Exhibits A and B attached hereto and made a part hereof) and stated that he recommended schedule A over schedule B because of the shorter payback period. He further stated that he felt the City could sell these bonds at an interest rate of around seven per cent (7%) . Mr. Medanich stated that with the anticipated growth that the City of Grapevine should be experiencing that the bonds could be sold and that the City could still maintain its present tax level. He � � � � � s � � � ; , further stated that he felt the City could very possibly improve on their present rating of BAA1. He further stated � that he felt it would be beneficial to get a rating before r 4' Moody' s or Standard and Poor' s. There was a brief discussion � of bond sales by surrounding cities in recent months and the ¢ � interest rates. Councilman Murphy then made a motion to ` table any action on the issuance of G. 0. Bonds until a ` later date. Councilman Oliver seconded the motion and the ; motion prevailed by the following vote: ' Ayes . Tate, Conine, Dalton, Murphy, and Oliver � Y Noes : None � � Absent: Dunn and Pirkle � � � The next order of business was for Mr. Huey Ball to appear � before the Council to discuss the drawing of plans for the � proposed sub-fire station and a contract for same. Mr. Ball stated that he had a contract to present to the Council ; and stated that he would explain the terms of the contract. � Mr. Ball explained that the contract would cover work being ' done by himself and his firm to complete plans and follow 4 through the construction of a sub-fire station to be lo- � cated on Dove Road. He explained that the contract con- � : tained all basic services outlined as follows: � � I. Preliminary design comprising 15% of all work � II. Design development comprising 20% of all work III. Bid Specification comprising 40% of all work F IV. Bidding & negotiations comprising 5% of all work � V. Construction administration comprising 20/ of � all work. ' #' Mr. Ball then explained that at the end of each phase the City Council would approve that phase before he would con- � tinue to the next phase so as to give the City Council � complete control of the project. The City Attorney stated g that he recommended that all payment be made through issued � bonds (General Obligation) because this type of expenditure ; has not been budgeted. Mayot Tate stated that he was con- �. cerned about the estimated cost of the building which was ` € $34.20/square foot. He stated that he felt this was too � high and that he would have to have more information before f entering into an architectural agreement. There was then � F a lengthy discussion of the cost per square foot and the " # type of building to be built. Mayor Tate stated that he was quite confused about the cost per square foot and that � Mr. Ball would have to give him a better idea of what type of building would be built for that price as well as more � information on various styles and types of building con- struction. The compensation rates as appearing in the r � contract are as follows : � � A Single Stipulated Sum Construction Contract .- a. CONSTRUCTION COST BASIC OF PROJECT COMPENSATION � Less than $50, 000 10.00/ _ k' $100, 000 9.65% � $200,000 9.30% ` $300, 000 8.90/ : $400, 000 8.50% ¢, $500, 000 8.25% � $750, 000 7.60% � $1,000,000 7.10% � $5,000,000 6.65% � � � f b. When construction falls between the tabular limits, the rates for basic services are determined by direct interpolation. Councilman Oliver made a motion to table any action on hiring an architect to prepare plans for the sub-fire station until a later date. Councilman Dalton seconded the motion and the motion prevailed by the following vote: � Ayes . Tate, Conine, Murphy, Oliver, Dalton Noes . None Absent : Dunn and Pirkle Mayor Tate then declared a recess at 9:00 P.M. Mayor Tate called the meeting to order at 9:20 P.M. with the following members present to-wit: William D. Tate Mayor Thelma Conine Councilwoman Bob Murphy Councilman Larry Oliver Councilman Doil Dalton Councilman constituting a quorum with Charles Dunn and Willis Pirkle absent with Floy Ezell City Manager Jim Hancock Assistant City Manager Kenneth Pritt City Secretary Ray Hutchinson Acting City Attorney The next order of business was for the City Council to con- sider the minutes of the November 25th meeting. Councilman Oliver made a motion to approve the minutes as published. Councilwoman Conine seconded the motion and the motion pre- vailed by the following vote: Ayes . Tate, Conine, Murphy, Oliver, Dalton Noes . None Absent: Dunn and Pirkle The next order of business was for the City Council to review and consider accepting the master plan far the Oak Grove Park Project. The City Manager gave a brief history and stated that in order for the City ta be eligible to receive $681,000 from the U. S. Corps of Engineers to be used in the Oak Grove Park Project, the Master Plan must be approved by the City Council. Bill Wilton, Director of Parks and Recreation, appeared before the Council and presented the Master Plan for the Oak Grove Park. There was little discussion and Councilman Murphy made a motion to approve the Master Plan as presented. Councilwoman Conine seconded the motion and the motion pre- vailed by the following vote: Ayes . Tate, Conine, Murphy, Oliver, and Dalton Noes . None Absent : Dunn and Pirkle The next order of business was for the City Council to appoint a member to the Joint Airport Zoning Board. The City Manager explained that Mr. Millard Dilg was on the Board and he further stated that he had contacted Mr. Roger � � � 3 � `r € � Cloud and that Mr. Cloud had stated that he would serve � on the Board. There was little discussion and Councilman � Dalton made a motion to appoint Mr. Roger Cloud to serve a on the Joint Airport Zoning Board. Councilman Murphy ; E ; seconded the motion and the motion prevailed by the � following vote: � ; Ayes . Tate, Conine, Murphy, Oliver, and Dalton `' Noes . None � � Absent : Dunn and Pirkle � t 3; There being no further business, Councilman Oliver made � a motion to adjourn the meeting. Councilman Dalton seconded � ; the motion and the motion prevailed by the following vote: � Ayes . Tate, Conine, Murphy, Oliver, and Dalton ` � Noes . None � Absent : Dunn and Pirkle � s The meeting was adjourned at 9: 35 P.M. � ; � ; PASSED AND APPROVED by the City Council of the City of ; ` Grapevine, Texas on this the � day of �-�c.�� , # z 1975. ' � S Y i 1e� �\ � �� 'o.�� ` .- � . ,.��.� 2 '��'��/ ` MAYOR f i k ATTEST: � � � , j - , '" � # � 4 3 '� � CI SECRETARY � : � ; i � � � i i { i ` 4 f s i S � F i � 3i 1 ! �. i � f � � t s + � i 4 V � [ V f F � t 4+ i � @# d I �' � 6¢� £ t � G S {y 8 l ' 4 � € � "SCHEDULE A �.� $ 300,000 � CITY OF GRAPEVINE, TEXAS GENERAL OBLI GATION BONDS, SERIES 1976 DATED: 2�01�76 � FIRST CPN DUE: 2�01�'J� ; PRINCIPAL DUE: 2�01 INTEREST DUE: 2�01 & 8�01 YEAR END PRESENT THIS $ 300,000 ISSUE GRAND TOTAL 9 3� REQUIREMED:TS PRINCIPAL I2JTERES'I`* T'aTAL REQUIR .F'Vi1ENTS 1976 $ 153,569 $ $ 0 $ 0 $ 153,569 1977 144,694 31 ,5�� 31 ,500 176,194 1978 146,069 5,000 20,825 25,825 171 ,894 1979 135,841 5,000 20,475 25,475 161 ,316 198� 131 ,716 10,000 19,95� 29,950 161 ,666 1981 12�,�66 10,000 19,250 29,250 157,016 1982 128,866 . 10,000 18,550 28,550 157:416 1983 124,841 10,000 1�,850 2'7,850 152,691 1984 120,816 10,000 17,150 2'],15� 147,966 1985 126,488 10,000 16,450 26,450 152,93$ 1986 111 ,775 15,000 15,575 3�,575 142,350 1987 112,299 15,000 14,525 29,525 141 ,824. ` 1988 102,756 15,000 13,475 28,475 131 ,231 1989 98,329 15,000 12,425 27,425 125,754 1990 103,565 15,000 11 ,375 26,375 129,94� 1991 59,915 20,000 10,15� 30,150 90,065 . 1992 57�695 20,000 8,'750 28,�50 86,445 1993 55,455 20,000 7,35� 27,35� 82,805 1994 58,0'75 20,000 5,950 25,950 $4,�25 1995 60,415 25,000 4,375 29,375 89,790 1996 57,615 25,000 2,625 27,625 85,24� 1997 59,661 25,000 875 25,875 85,536 1998 ' S6,554 0 0 56,554 $ 2,334,775 $ 300,000 $ 289.,450 $ 589,45� $ 2�924,225 1976 ESTIMATED ASSESSED VALUATION • $105,000,000 1977 PRINCIPAL AND INTEREST REQUIREMENTS $ 176,194 $0.177 TAX RATE AT 95% CALLECTIONS PRODUCES � 176,55$ � '�NOTE: INTEREST HAS BEEN CALCULATED AT A RATE OF �.00 � FOR PURPOSES : � OF ILLUSTRATION. ' � '�NOTE: 18 MONTHS INTEREST. ; l � � � � , 'SCHEDULE B S 300,000 CITY OF GRAPEVINE, TEXAS � GENERAL OBLIGATION BONDS, SERIES 1976 DATED: 2�01�'76 FIRST CI'N DUE: 2,/01�77 PRINCIPAL DUE: 2�01 . INTEREST DUE: 2,/01 & 8�01 YEAR END PRESENT THIS $ 300,000 ISSUE GRAND TOTAL 9 30 REQUIRENIENTS PRI2dCIPAL INTEREST� TOTAL REQUIREMIIVTS 1976 $ 153,569 $ $ 0 $ 0 $ 153,569 1977 144,694 32,625� 32,625 177,319 1978 146�069 5,000 21 ,569 26,569 172,638 1979 135,841 5,000 21 ,206 26,206 162,04� 1980 131 ,'716 5,000 20,8q4 25,844 157,560 1981 12�,766 5,000 20,481 25,481 153,247 1982 128,866 5,000 20,119 25,119 153�985 1983 124,841 5,000 19,756 24,756 149,597 1984 120,816 5,000 19,394 24,394 145,210 1985 126,488 10,000 18,850 28,85� 155,338 1986 111 ,775 10,000 18,125 28,125 139,900 , 198� 112,299 10,000 17,400 27,400 139�699 1988 102,'756 10,000 16,675 26,6�5 129,431 � 1989 �8,329 10,000 15,95� 25,950 124,279 1990 103,565 10�000 15,225 25,225 128,790 1991 59,915 10,000 14,500 24,500 84,415 1992 57,695 10,000 13,775 23,775 8� ,47� 1993 55,455 15,000 12,869 27,869 83,324 1994 58,�75 15,000 11 ,781 26,�81 84,856 1995 60,415 15,000 10,694 25,694 86,109 1996 57,615 15,000 9,606 24�606 82,221 1997 59,661 15,0� 8,519 23,519 $3,180 1998 56,554 20,000 �,250 27,25� $3,8�4 1999 . 0 20,000 5,800 25�800 25,800 2000 0 20,000 4,35� 24,350 24,35� 2001 0 25,000 2,�19 2�,719 27,719 2002 0 25�000 906 25,9� 25,906 $ 2,334,775 $ 300,000 $ 380,988 $ 680,9$$ $ 3,015,763 1976 ESTIMATED ASSESSED VALUATION $105�000,000 1977 PRINCIPAL ANA INTEREST REQUIREMENTS $ 177,319 $0.1�8 TAX RATE AT 95� C�LLECTIONS PRODUCES . $ 177r555 �NOTE: INTEREST HAS BEEri CALCULATED AT A RATE OF 7.25 � �R PURPOSES OF ILLUSTRATION. �NOTE: 18 MONTHS INTEREST.