The City Council of the City of Columbia, Missouri met for a special meeting at 5:35 p.m.., on Wednesday, April 24, 2002, in the Council Chamber of the City of Columbia, Missouri. The roll was taken with the following results: Council Members COFFMAN, HINDMAN, JANKU, HUTTON, LOVELESS and JOHN were present. Council Member CRAYTON was absent. The City Manager, Assistant City Counselor, City Clerk, and various department heads were also present.
B135-02 Authorizing issuance of Sewerage System Revenue Bonds for extending and improving the City's
sewerage system. (Tabled from 04/15/02 Council meeting.)
The bill was read by the Clerk.
Mayor Hindman noted an amendment sheet.
Ms. Fleming explained this is one in a series of State Revolving Loan Funds the City has participated in over the past several years. This year the City will issue approximately $2.25 million in sanitary sewer bonds for the Upper Grindstone Creek sewer project that is under design at this time. Ms. Fleming reported the average coupon rate was a little over 4.5%. However, the City's subsidized rate will be 1.244% because of our participation in the State subsidy program. She indicated the estimated savings to the City by participating in this program is in excess of $740,000.
Mayor Hindman made the motion that B135-02 be amended per the amendment sheet. The motion was seconded by Mr. Hutton and approved unanimously by voice vote.
B135-02, as amended, was read with the vote recorded as follows: VOTING YES: COFFMAN, HINDMAN, JANKU, HUTTON, LOVELESS, JOHN. VOTING NO: NO ONE. ABSENT: CRAYTON. Bill declared enacted, reading as follows:
Mr. Beck noted the Council had been given a copy of a letter from the U.S. General Services Administration relating to the sale of the Federal Building. He anticipated a staff report addressing this issue will be on the next meeting agenda.
There being no further business, the meeting adjourned at 5:45 p.m.