The City Council of the City of Columbia, Missouri met for a special meeting at 6:05 p.m., on Wednesday, April 2, 2003, in the Council Chamber of the City of Columbia, Missouri. The roll was taken with the following results: Council Members HINDMAN, CRAYTON, JANKU, HUTTON, LOVELESS and JOHN were present. Council Member COFFMAN was absent. The City Manager, City Counselor, City Clerk and several department heads were also present.
B95-03 Authorizing the issuance of Sewerage System Revenue Bonds Series 2003.
The bill was given second reading by the Clerk.
Ms. Fleming explained that the state priced these bonds yesterday and sent the information today. She noted these are some of the lowest interest rates she has ever seen. The bonds had an average coupon of 4.07, but with the subsidy we get by participating in the State Revolving Loan Program, the City's cost is at 1.1883%. She said this gives the City savings, through the subsidy the state gives, of over one million dollars over the life of the issue.
Comments were called for with none received.
Mr. Boeckmann explained that an amendment sheet had been prepared wherein the blanks would be filled in with the appropriate numbers.
Mayor Hindman made the motion that B95-03 be amended per the amendment sheet. The motion was seconded by Mr. Hutton and approved unanimously by voice vote.
B95-03, as amended, was given third reading with the vote recorded as follows: VOTING YES: HINDMAN, CRAYTON, JANKU, HUTTON, LOVELESS, JOHN. VOTING NO: NO ONE. ABSENT: COFFMAN. Bill declared enacted, reading as follows:
There being no further business, the meeting adjourned at 6:10 p.m.