July 18, 2006 SS Minutes
CITY OF DENTON CITY COUNCIL MINUTES
July 18, 2006
After determining that a quorum was present, the City Council convened in a Special Called
.
Meeting on Tuesday, July 18, 2006 at 11:30 a.m in the City Council Chambers of City Hall.
PRESENT: Mayor McNeill; Mayor Pro Tem Kamp; Deputy Mayor Pro Tem Mulroy; Council
Members Heggins, McElroy, Montgomery, and Thomson.
ABSENT: None
1. The Council considered adoption of an ordinance authorizing the issuance, sale, and
delivery of City of Denton Certificates of Obligation ($12,665,000), Series 2006; approving and
authorizing instruments and procedures relating thereto; and providing an effective date.
Laura Alexander, First Southwest Company, stated that 6 bids had been received regarding the
Certificates of Obligation. She reviewed the bids and noted the winning bid which she
recommended Council accept.
The following ordinance was considered:
NO. 2006-183
AN ORDINANCE AUTHORIZING THE ISSUANCE, SALE, AND DELIVERY OF
CITY OF DENTON CERTIFICATES OF OBLIGATION ($12,665,000), SERIES 2006;
APPROVING AND AUTHORIZING INSTRUMENTS AND PROCEDURES
RELATING THERETO; AND PROVIDING AN EFFECTIVE DATE.
Heggins motioned, Kamp seconded to adopt the ordinance accepting the bid of RBC Capital
Markets with an interest rate of 4.495737%. On roll vote, Heggins “aye”, Kamp “aye”, McElroy
“aye”, Montgomery “aye”, Mulroy “aye”, Thomson “aye” and Mayor McNeill “aye”. Motion
carried unanimously.
2. The Council considered adoption of an ordinance authorizing the issuance, sale, and
delivery of City of Denton General Obligation Bonds ($3,695,000), Series 2006; approving and
authorizing instruments and procedures relating thereto; and providing an effective date.
Laura Alexander, First Southwest Company, stated that four bids had been received regarding
the General Obligation bonds. She reviewed the bids and noted the winning bid which she
recommended Council accept.
The following ordinance was considered:
NO. 2006-184
AN ORDINANCE AUTHORIZING THE ISSUANCE, SALE, AND DELIVERY OF
CITY OF DENTON GENERAL OBLIGATION BONDS ($3,695,000), SERIES 2006;
APPROVING AND AUTHORIZING INSTRUMENTS AND PROCEDURES
RELATING THERETO; AND PROVIDING AN EFFECTIVE DATE.
City of Denton City Council Minutes
July 18, 2006
Page 2
McElroy motioned, Thomson seconded to adopt the ordinance accepting the bid of BOSC, Inc.
with an interest rate of 4.679419%. On roll vote, Heggins “aye”, Kamp “aye”, McElroy “aye”,
Montgomery “aye”, Mulroy “aye”, Thomson “aye” and Mayor McNeill “aye”. Motion carried
unanimously.
3. The Council considered adoption of an ordinance authorizing the issuance, sale, and
delivery of City of Denton Utility System Revenue Bonds ($8,515,000), Series 2006; approving
and authorizing instruments and procedures relating thereto; and providing an effective date.
Laura Alexander, First Southwest Company, stated that five bids had been received regarding the
Revenue bonds. She reviewed the bids and noted the winning bid which she recommended the
Council accept.
The following ordinance was considered:
NO. 2006-185
AN ORDINANCE AUTHORIZING THE ISSUANCE, SALE, AND DELIVERY OF
CITY OF DENTON UTILITY SYSTEM REVENUE BONDS ($8,515,000), SERIES
2006; APPROVING AND AUTHORIZING INSTRUMENTS AND PROCEDURES
RELATING THERETO; AND PROVIDING AN EFFECTIVE DATE.
Mulroy motioned, Montgomery seconded to adopt the ordinance accepting the bid of LaSalle
Financial Services, Inc. with an interest rate of 4.620859%. On roll vote, Heggins “aye”, Kamp
“aye”, McElroy “aye”, Montgomery “aye”, Mulroy “aye”, Thomson “aye” and Mayor McNeill
“aye”. Motion carried unanimously.
With no further business, the meeting was adjourned at 11:45 a.m.
_________________________________
PERRY R. McNEILL
MAYOR
CITY OF DENTON, TEXAS
__________________________________
JENNIFER WALTERS
CITY SECRETARY
CITY OF DENTON, TEXAS