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Home My WebLink About1953-04-21 Special Meeting�+a.�F�r•em.-.,.,.. _,-c .._ . -��___ .__ ._ . . .-- :,�-- . . . . _ .. . . ._ . . . . , .. . � . __ - _ ..- _ _ .. . . _ _ _. _. _. _ . . � . � , � ��_ , I i Special meeting of the City Cauncil of the City of Grag.evine was held April 21, 1953 with the following members b.eing present: ' i Mayor H. M. Cosnahan; Aldermen J. J. Daniel, Bill GueSt, E.M. Pair, & R, F. Shelton; Seeretary Hugh �:illican. . Mayor Co snahan a�po int ed r�.r. �d. J. Henclerson as Water & S�rer Superintendent. 1J+otion ty Pa�r tha.t the. appointment be appro9ed, { motion seconded and pasEed by vote, � Mayor appointed Harold Lowe as Fire Chi�f, J.. Lloyd Fu11er � as Assistant Chief, and J. C. Greener as Drillmaster of the � 'Grap.evine Fire Department. Motion g��'�� ade by Pair , and:` seconded that the appointment� be approve�, sec�onded by Shelton, and passed by vote. � '� i Alderman J. J. Daniel was elected as Mayor pro-tem. I � Motion by Shelton that the rP�;ular meetin�s of .the City Council be held on the first and third Tuesdays at 8;00 p, m. Niotion seconded by Daniel and psssed by vot�e. - Notion by Shelton that the off ice of City 2�larshal bs set apart Prom that of night i�atchman. Notion Beconded by Guest and i p�ssed. by vote . , , � N!ot�.lon by Guest that the City secure an a.utomobile f'or use by the City Marehal and. night��atchman in patrol work and that this auto be properly marked and equiped as such and that� the cost shall not exceed ,� 1,�50.00, as much as possible to be I! , ra�$ed by eubecription� with the balance to be, by the City. � Motion eeconded and passed by vote. ;I , Motion by Pair that the 81ty Marshal shall receive compen- ' eation of � 200.00 per month. Motion seconded and passed. ,Motio� �y Pai'r that the salary of the night watchman be set ', at �a mini,mum of �� 175.00 �er month. Motion seconded & passed. - . 3elec�ion of City l�iarshal and night watchman deferred for more study. Motion that the City, adopt connection char�e for standarcl. ' water tap of � 70.00 and connection char�e for sewer tap oP � 20.00, with the exceptlon that units now under construct- ion shall carry the old charge�. Motion made by Guest and . seconded by Shelton and pasfied. �iotion by Shelton that the City incorporate into its contraets with developere a method of determining the amount of refund ; due the developer as outlindd by Frank B. McNiahon in his � report on the financing of refunding contracts. I%otion was � � seconded by Daniel and pa8sed by vote. . I Condition� set f orth in this report; � " 1. That the City must gain title in FEE SIMPLE to all water � and sewer systems; and the 8ame for all future syst�ms. ; In the case of prESent contraets, it appears to be le- _ �' .._�_�.�.uu �...-.-_��. ... ..�. ... . ..'r�.::��__'�. _� .' _._..�_. .. . . :,-:� .. .._ . ' _.L ..-. �.�__ __. ,......-..�'. ____'L� .... .. -. ... . . .. . " _�." � r�-,.—�-�__�'e�^"m--r—�..,--•—�'r_ . . : ::-�'tti,C.R _ . ... . - . . . � � .,. . ' . . . Ma'..:.�i:s.. I I aally necessary to. re-negotitate your contracts for theae propertiee, and r�ake payment accarding to the Pormula set out below. __ �� 2. This formula. �o be use� for payment to Developer�, far property (within their sub-c?evelopaient ) . " (A) , Cost oP rop�rty, or, a sum of money, (whichever is less) ,�which �can be raised .from sale of Water And Sewer Revenue Bonds, based on capita.lizin� 25°� of the Gross Average income per water �neter� for the entire system; for example: " As stanming,� Gro'se Income , (Water & .Sewer) � 36,400.,•00 Average number water connections past 12 mos. ?00. ' Average Annual Grosa Income per connection 52.00 25� of �52.00 � 13.00 " An addition �aith 72 water and set�er �onnections would prAduce an income ( 72 x 13) � 936.00 " � 936.00 will suppor,t: Cash Availa�ble No.. Rate Will Yeara Interest Support ' � 936.00 35 4� 17,470.00 or value of pro�erty 936.00 35 44� 16,892.00 " " " ' � 936.00 ' � 30 4,� 16,185.00 " " �� " 936.00 30 4�,� 15, 705.00 u " " '� u In our' op�r�ion, this is the I�AXI3�UM amount that the City can �.fford to sper�d on sud-division developments with reasonable assurance that ! finances can remain on a livable ecale. i � u Su'b-d3visions that cannot be tied on to existing facilities will � require payme`nt for Develope�, as• part of the cost of his sub-d.ivision, for "main-line" construction, in some cases it mi�ht be possible , for the City to share some of the "main-line" expenEe - a matter to �, I be determined at the t3.me and in consultation with your Engineer and Investment Banker. �� - - - - - � I Motion by Daniel that the City secure , if possible valuations of properties within the City from the. School Baard; these for tax purp- oses, with the cost not to exceed � 100.00. I�otion seconded �nd passed. Ald.erman Daniel appointed to contact School Board on -this matter. Mayor appointea City Equ�lization• Board of Floyd Deacon, Bill Yancey, and Wiley Willhoite. Iiiotion by Pa.ir that the appointments be ap�roved; �'otion seconded and passed. Motion by Daniel and. seconded by Shelton that the Engineere proceed with a survey of the City ' s water and sewer system and give recomen- dations; cost to be � 350.00 with credit given if work is done. 2�otion passe�.. • Motion by Daniel tha.t..the membere of the equ�zliza.tion board be paid at the rate of � 10.00 per day. Notion seconded �nd. passecl. . � _` .�� ,�?� � �� ,- ., -, _ _ , .. . � ', ,' ! ; � � Meet:ing of �a1-53, continued � Propo�al of Frank B. McMahon as submitted: �� (1) That you (the City) retain Frank B. McMahon & Co. ,Inc. , � as your Fiscal Agent to assiet you and your Engineers and AttornEys in working out the finances for this �rogram. (Of iasuing � 75 000.00 in revenue bonds & � 125,000.00 in tax bonde� We ahall re-imburse you for the Legal Fees of a recognized Bond Attorney for legal ` proceedings and his le�al opinion; pay for the printed ; election supplies and ballots, ; pay for printin� of the bonds and the State Comptrollers' registration fee. For ou� counc�l, cooperation, supplies and services, we are to be paid a fee of 2,°� of the par value of the Revenue Bonds and 2� of the par value of the T�.x Bonds. Fee oF fees to be paid at the time your bond� are paid �or by the purchaser. " (2) In the event the election should fail, then you ahall owe us �150.00 anc�_ we shall continue our mutual ePforts tawards the above objectives as outlined above. " Notion by Alderma.n Daniel that the City accept Mr. Memahon' s proposal as outlined. Seconded and passec�.. Proposal �`2 wa.s presented by F'rank B. McNahon: " In connection with your(the City) proposed trdater & �ewer Rev- � enue �onds and Water & Sewer Tax Bond� we agree to purchase ' the same at par and accrued interest with bonds to bear intereat from their date of issue to final maturity date or dates as followa: Bonds Na.turin� Rate ' 1954-1963, Inclusive � 3� 1964-1968, Inclusive � 4 1969 & thereafter � 4�� " Bonds aue 1969 and thereafter to be optional in 1968 at par and �ccrued interest. p�,].1 bonds payable at the Mercantile National Ban� at Dallas, Texas , u * * � � # * � � * '� This proposition is firm for a period of Ninety (90) days, and if for any reason the bonds cannot �e delivered within that time, then we ahall have the refusal of them at the time they can be legally �� delivered. " When the bonds are voted, and you have determined the amount to be issued and � maturity schedule, then we shall deposit a Ca�hier' s Check for 2� of the amount of the bonds. Sa.id cheek to be held by you uncaehed pending out performance hereunder and then returned to us. In the event we ahould •fail or refuae to �erform hereunder, then you shall cash the check a.nd keep 'i the proceeda as full and complete liquidatec�. �amages. " viotion by Pair that the City accept the above proposal # 2 by Frank McNiahon. Second by Daniel and paeaed. Meeting Ad�ourned. �� * "�F'�'' , . . ._,,�, _ _T.. _ . : _ .,