Min 08/08/1978 687
Wichita Falls , Texas
Memorial Auditorium Building
August 8, 1978
Item 1
The Board of Aldermen of the City of Wichita Falls, Texas, met in called session
on the above date in the Council Room of the Memorial Auditorium Building at 2:00
o'clock P.M. , with the following members present.
Kenneth Hill Mayor
Hardy McAlister
Fred E. Bassett
Carol Russell 1 Aldermen
Curtis Smith
Jim Thomas
Gerald Fox City Manager
H. P. Hodge, Jr. City Attorney
Gerald Carlson Chief Accounting Officer
Wilma J. Thomas City Clerk
Raymond Adcock Absent
Mayor Hill announced that the meeting had been called to open bids on the water
and sewer revenue bond sale.
Mike Ashford , of the First Southwest Company in Dallas , assisted Mayor Hill
in opening and reading the bids , as follows.
Texas Bank and Trust et al 5.62666%
Snyder Burnett, and Hickman et al 5.5900%
Texas Commerce Bank in Houston 5.56189%
Greer Moreland Fosdick and Shepherd
and First Southwest Company et al 5.7476%
First Boston Corporation 5.561095%
Dean Witter Reynolds, Inc. et al 5.437619%
Underwood Neuhaus and Associates 5.594286%
E.F. Hutton, Inc. 5.427406%
It was noted by Mr. Ashford that the City's new bond ratings by Moody (A)
and Standard and Poore (A+) have enabled the City to obtain some excellent bids.
The meeting was recessed at 2:10 to review the bids, and was resumed at 2:25
P.M. The bond premium is $146.80, and the net interest cost is $683,853.20.
ORDINANCE NO. 3349
ORDINANCE AUTHORIZING THE ISSUANCE OF WATER AND SEWER REVENUE BONDS
Moved by Alderman Thomas that Ordinance No. 3349 be passed , awarding the bid to
E. F. Hutton, Inc. on their bid of 5.427406 percent.
Motion seconded by Alderman McAlister, and carried by the following vote:
Ayes : Mayor Hill , Aldermen Smith, Thomas , McAlister, Bassett, and Alderwoman Russell
Nays : None
The Board of Aldermen adjourned at 2:30 P.M.
PASSED AND APPROVED this c� v' day of�?� ����� �� 1978.
AYOR
ATTEST:
C T CLERK