Min 06/17/1992 78
Wichita Falls, Texas
Memorial Auditorium Building
June 17, 1992
Item 1
The City Council 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 8 : 30 o'clock a.m. , with the
following members present.
Michael Lam - Mayor
i
Terrance E. Loughry -
Paul Hughes - Councilors
J. W. Martin -
Harold Hawkins -
James Berzina - City Manager
Gregory Humbach - City Attorney
Wilma J. Thomas - City Clerk
David Farabee - (Absent)
Angus Thompson - (Absent)
Item 2
Mayor Lam noted the purpose of the meeting is to discuss an
ordinance authorizing the issuance of City of Wichita Falls,
Texas, Certificates of Obligation, Series 1992, $4,000,000.
Mr. Berzina explained that state law provides for fourteen
days for five percent of the registered voters to sign petitions
to stop the Certificates of Obligation, and call for an
election. Petitions have been received, and the office of the
City Clerk is in the process of checking these petitions. On
advice of bond counsel it is recommended that the City suspend
this action today to give the City Clerk time to check the
petition, and perhaps call a meeting at a later date.
Moved by Councilor Hughes that the Council table the
issuance of the Certificates of Obligation until we find if we
have a valid petition.
Motion seconded by Councilor Martin.
Mayor Lam explained the purpose of going to New York for a
bond rating, stating the rating will not be affected by any
vote.
The motion to table carried by the following vote.
Ayes: Mayor Lam, Councilors Loughry, Hughes, Martin,
and Hawkins
Nays: None
The City Council adjourned at 8 : 40 a.m.
PASSED AND APPROVED this the day of 1992.
Michael Lam, Mayor
ATTEST:
Wilma J. Th mas, CMC/AAE
City Clerk