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Minutes April 01, 2003 ssCITY OF DENTON CITY COUNCIL M1NUTES April 1, 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, April 1, 2003 at 11:00 a.m. in the City Council Chambers of City Hall. 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 Utility System Revenue Refunding and Improvement Bonds, Series 2003, and approving and authorizing instruments and procedures relating thereto; and providing an effective date. David Medanich, First Southwest, stated that nine bids had been received on-line. He reviewed the bids for Council and indicated that the bid from William R. Hough and Company was the lowest at 4.068068%. He recommended that Council award the bid to William R. Hough and Company. He noted that this refunding would save the City $800,000. The following ordinance was considered: NO. 2003-101 AN ORDINANCE AUTHORIZING THE ISSUANCE, SALE, AND DELIVERY OF CITY OF DENTON UTILITY SYSTEM REVENUE REFUNDING AND IMPROVEMENT BONDS, SERIES 2003, AND APPROVING AND AUTHORIZING INSTRUMENTS AND PROCEDURES RELATING THERETO; AND PROVIDING AN EFFECTIVE DATE. Montgomery motioned, Fulton 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 11:10 a.m. EUL1NEBROCK MAYOR CITY OFDENTON, TEXAS JENNIFER WALTERS CITY SECRETARY CITY OF DENTON, TEXAS