4B Sales Tax Corporation Minutes - 12/16/19974B Sales Tax Corporation Board Meeting Minutes
City Council Conference Room
December 16, 1997
Members: Present:
Ms. Benay Ayers, President
Mr. Rick Boone, Vice - President
Mr. Ray Gonzalez
Mr. Paul Hughes, Secretary- Treasurer
Mr. Tommy McCulloch, Jr.
Mr. Arnold Oliver
Mr. Ikard Smith
City Officials: Kay Yeager, Mayor
Angus Thompson, Mayor Pro Tern
J. W. Martin, City Councilor
Bill Daniel, City Councilor
Don Johnston, City Councilor
Harold Hawkins, City Councilor
Dan Shine, City Councilor
City Staff /Guest: Jim Berzina, City Manager
Dave Clark, Com. Dev. Director
Lydia Torres, City Clerk
Lynda Hillery, Public Information Officer
Jim Dockery, Director of Finance
Jack Schlieper, Police Chief
Harold Lindsey, Assistant Fire Chief
George Bonnett, Dir. of Public Works
Media:
Le Templar, Newspaper
Francis Rivera, TV Station
The meeting was called to order at 9:09 a.m. by Ms. Benay Ayers, President of the 4B
Sales Tax Corporation Board. Mr. Tommy McCulloch made a motion to accept the
minutes of the November 21, 1997 meeting. The motion was seconded and the
minutes were accepted.
Ms. Ayers opened the meeting for comments from the public on 4B Sales Tax
Corporation Board FY 1997 -98 expenditures. There were no comments made
concerning the board's budget for fiscal year 1997 -98. Ms. Ayers then asked for a
motion to close the public hearing. A motion was made by Mr. Rick Boone to close the
public hearing. The motion was seconded and unanimously passed. The public
hearing was officially closed.
Ms. Ayers opened the meeting for discussion of expenditure on sirens and poles which
have or are being installed, and service of the debt on the library which is the 2 million
dollars Tax Anticipation Notes. She stated that these notes are staggered and the
interest rate is between 5 and 6 percent and the debt service will be approximately
$358,894.00 in principal and interest. This is the amount that the board is proposing
during this meeting to be spent. Ms. Ayers asked for a motion regarding this. A
motion was made by Mr. Tommy McCulloch to pass this item. The motion was
seconded by Mr. Paul Hughes and was unanimously passed by the board.
Mr. Rick Boone commented that we are reimbursing the General Fund and that the
board did not issue those funds that the City of Wichita Falls did. He stated that on the
board's budget it should read "debt service transferring the 4B Sales Tax Corporation
Board's funds to the General Fund ". Ms. Ayers called for a vote. The vote was
unanimously passed..
Ms. Ayers called for approval of the resolution requesting the City of Wichita Falls to
maintain the board's books, records, accounts, and financial statements of the
Corporation per Article IV, Section 3 of the Corporation Bylaws. Ms. Ayers called for a
vote of approval on this resolution. The board voted unanimously to passed this
resolution.
Ms. Ayers called for any further business. She stated that the board has received its
first check in the mail. Mr. Berzina stated that the City will inform the board of future
projects before they are in progress instead of while they are being done.
The meeting was adjourned by Ms. Ayers at 9:17 a.m.
f�'�iYi tia
Benay Ayers
President