M I N U T E S
SPECIAL
CITY COUNCIL MEETING - COLUMBIA, MISSOURI
NOVEMBER 18, 1999
 

INTRODUCTORY
    The City Council of the City of Columbia, Missouri met for a special session at 6:10 p.m., on Monday, November 18, 1999, in the Council Chamber of the City of Columbia, Missouri. The roll was taken with the following results: Council Members CAMPBELL, JOHN, COFFMAN, HINDMAN, CRAYTON, and JANKU were present. Council Member CROCKETT was absent. The City Manager, City Counselor, City Clerk, and various Department Heads were also present.
 

OLD BUSINESS
B406-99     Authorizing agreements with the State Environmental Improvement and Energy Resources Authority
                   and the Missouri Department of Natural Resources.
    The bill was read by the Clerk.
    Mayor Hindman noted that an amendment sheet had been prepared.
    Mr. Campbell made the motion that B406-99 be amended per the amendment sheet. The motion was seconded by Mr. John and approved unanimously by voice vote.
    Mr. Beck reported that Lori Fleming, the Finance Director, is present to explain the latest information received from the State to finance City sewer improvements.
    Ms. Fleming explained that this will authorize the purchase of $1.42 million in revenue bonds that will be repaid from revenues of the sewer utility. She explained the funds will be used to construct sewer interceptors for the B-16 Relief Sewer, B-17 Interceptor Sewer, and the Cow Branch Outfall Sewer and Pump Station. She noted that the bonds were priced Tuesday and are slightly higher than what was seen this summer. The average coupon on these bonds is 5.19%, but because the City participates in this program and receives subsidies from the state, the average coupon to the City is 1.4%. Ms. Fleming stated that the City's average payments will be slightly over $86,000. By participating in this program, the City receives a savings of approximately $360,000.
    B406-99, as amended, was read with the vote recorded as follows: VOTING YES: CAMPBELL, JOHN, COFFMAN, HINDMAN, CRAYTON, JANKU. VOTING NO: NO ONE. ABSENT: CROCKETT. Bill declared enacted, reading as follows:

B407-99     Authorizing agreements with the State Environmental Improvement and Energy Resources Authority
                   and the Missouri Department of Natural Resources.
    The bill was read by the Clerk.
    Mr. Campbell made the motion to amend B407-99 per the amendment sheet. The motion was seconded by Mr. Janku and approved unanimously by voice vote.
    Comments were called for with none received.
    B407-99, as amended, was read with the vote recorded as follows: VOTING YES: CAMPBELL, JOHN, COFFMAN, HINDMAN, CRAYTON, JANKU. VOTING NO: NO ONE. ABSENT: CROCKETT. Bill declared enacted, reading as follows:

    There being no further business the meeting adjourned to a closed session at 6:16 p.m.

                                                                                        Respectfully submitted,

                                                                                        Penny St. Romaine
                                                                                        City Clerk