Minutes March 25, 2003 ssCITY OF DENTON CITY COUNCIL M1NUTES
March 25, 2003
After determining that a quorum was present, the City Council convened in a Special Called
Meeting of the City of Denton City Council on Tuesday, March 25, 2003 at 11:00 a.m. in the
City Council Chambers.
PRESENT:
Mayor Brock; Mayor Pro Tern Burroughs; Council Members Fulton, McNeill,
Montgomery, and Redmon.
ABSENT: Council Member Phillips
1. The Council considered adoption of an ordinance authorizing the issuance, sale, and
delivery of City of Denton Certificates of Obligation Bonds, Series 2003; approving and
authorizing instruments and procedures relating thereto; and providing an effective date.
David Medanich, First Southwest Company, reviewed the bids received on-line and indicated
that the bid from UBS Paine Webber Inc. was the lowest bid at 3.989792%. He recommended
Council award the bid to UBS Paine Webber.
The following ordinance was considered:
NO. 2003-073
AN ORDINANCE AUTHORIZING THE ISSUANCE, SALE, AND DELIVERY OF
CITY OF DENTON CERTIFICATES OF OBLIGATION BONDS, SERIES 2003;
APPROVING AND AUTHORIZING INSTRUMENTS AND PROCEDURES
RELATING THERETO; AND PROVIDING AN EFFECTIVE DATE.
Burroughs motioned, Montgomery seconded to adopt the ordinance. On roll vote, Burroughs
"aye", Fulton "aye", McNeill "aye", Montgomery "aye", Redmon "aye", and Mayor Brock "aye".
Motion carried unanimously.
2. The Council considered adoption of an ordinance authorizing the issuance, sale, and
delivery of City of Denton General Obligation Refunding and Improvement Bonds, Series 2003,
levying the tax to pay same; approving and authorizing instruments and procedures relating
thereto; and providing an effective date.
David Medanich, First Southwest Company, reviewed the bids received on-line and indicated
that the bid from UBS Paine Webber, Inc. was the lowest bid at 3.997129%. He recommended
Council award the bid to UBS Paine Webber, Inc.
The following ordinance was considered:
NO. 2003-074
AN ORDINANCE AUTHORIZING THE ISSUANCE, SALE, AND DELIVERY OF
CITY OF DENTON GENERAL OBLIGATION REFUNDING AND IMPROVEMENT
BONDS, SERIES 2003, LEVYING THE TAX TO PAY SAME; APPROVING AND
AUTHORIZING INSTRUMENTS AND PROCEDURES RELATING THERETO;
AND PROVIDING AN EFFECTIVE DATE.
City of Denton City Council Minutes
March 25, 2003
Page 2
Burroughs motioned, Montgomery seconded to adopt the ordinance. On roll vote, Burroughs
"aye", Fulton "aye", McNeill "aye", Montgomery "aye", Redmon "aye", and Mayor Brock "aye".
Motion carried unanimously.
With no further business the meeting was adjourned at 11:15 a.m.
EUL1NEBROCK
MAYOR
CITY OFDENTON, TEXAS
JENNIFER WALTERS
CITY SECRETARY
CITY OF DENTON, TEXAS