10.24.1995 Town Council Minutes176
WORK SESSION - COUNCIL
TUESDAY OCTOBER 24, 1995
CITY HALL - 109 SOUTH MAIN STREET 7:00 P.M.
THOSE PRESENT: MAYOR COFFMAN: COUNCILMEMBERS; BILL NISWANGER,
RALPH BOYER, DAVID FERGUSON AND JIM DUNMIRE. GRADY SMOTHERMON
WAS ABSENT.
JASON WILCOX, WITH FIRST SOUTHWEST COMPANY
TIM MORRIS, CITY ENGINEER
CALL TO ORDER: MAYOR COFFMAN CALLED THE MEETING TO ORDER.
TIM MORRIS GAVE THE COUNCIL A DESCRIPTION OF THE IMPROVEMENTS
THE CITY NEEDS TO MAKE.
1. ELEVATED STORAGE TANK
2. EXPANSION OF SEWAGE TREATMENT PLANT
3_ ADDITIONAL WATER SOURCE
4. TTPGRADE C OLLEC'ITON LINES
THE ABOVE IMPROVEMENTS WILL COST APPROXIMATELY $1.5 MILLION,
OMITTING THE ADDITIONAL WATER SOURCE.
JASON WILCOX WITH FIRST SOUTHWEST COMPANY TALKED TO THE COUNCIL
ON WAYS OF FINANCING.
1. GENERAL OBLIGATION BONDS - REQUIRES AN ELECTION
2. REVENUE BONDS - REQUIRES NO ELECTION
3. CERTIFICATES OF OBLIGATION - REQUIRES NO ELECTION
NO DECISIONS WERE MADE BY THE COUNCIL AS TO WHAT IMPROVEMENTS
WILL BE MADE OR HOW THEY WILL BE FINANCED.
THE COUNCIL WILL HOLD A SECOND WORKSHOP ON THIS ISSUE ON THE
7th OF NOVEMBER, 1995.
ADJOURN: THE WORKSHOP ADJOURNED AT 10:00 P.M.
MAYOR_ --
CITY SEC T