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Min 03/04/1980 442 Wichita Falls, Texas Memorial Auditorium Building March 4, 1980 Items 1 & 2 The Board of Aldermen of the City of Wichita Falls, Texas, met in regular 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. Kenneth Hill Mayor Marvin Traywick John Hampton, Jr. Carol Russell Aldermen Curtis Smith Jim Thomas Raymond Adcock Gerald Fox City Manager H. P. Hodge, Jr. City Attorney Gerald Carlson Chief Accounting Officer Wilma J. Thomas� City Clerk il The invocation was given by Byron Myrick, University United Methodist Church. v' Item 3 i Mayor Pro tem Smith made a correction to the minutes of the meeting held on February 26, 1980, Page 437. The first sentence of the paragraph was corrected to read as follows : Mayor Pro tem Smith stated that the consensus of the two court cases had been that the zoning ordinance was so complicated that it could not reasonably be presented to the voting public. i Moved by Alderman Adcock that minutes of the meeting held February 26, 1980, ry be approved, with the correction. Motion seconded by Alderman Smith, and carried unanimously. Items 4a - 8g jj Items 5a, 5c, and 5d were moved from the consent agenda to the regular agenda. Moved by Alderman Traywick that the remaining items on the consent agenda be approved. Motion seconded by Alderman Adcock. Item 4a ORDINANCE NO. 3619 ORDINANCE EXTENDING STATE OF DISASTER EMERGENCY FOR SEVEN DAYS. Ayes: Mayor Hill , Aldermen Traywick, Hampton, Russell , Smith, Thomas , and Adcock Nays : None Item 5b The bid for a 23,000 GVW Truck was awarded to Kidwell GMC in the amount of $9,574.90. The bid for repair of a hydraulic bucket unit was awarded to Southwest Hydraulic in the amount of $11 ,772.00. Ayes: Mayor Hill , Aldermen Traywick, Hampton, Russell , Smith, Thomas, and Adcock Nays : None I 443 Item 6a - RESOLUTION NO. 2469 RESOLUTION APPROVING PAYMENT AND ACCEPTING CONSTRUCTION OF HIGH PRESSURE SODIUM LIGHTING. WHEREAS, the City of Wichita Falls and Lloyd Thomas Co. , as contractor, entered into a contract dated December 5, 1979, wherein said contractor agreed to remove certain existing fixtures and to install certain new fixtures; and WHEREAS, said contractor has completed in accordance with the plans and specifi- cations, the removal of one hundred sixteen (116) old fixtures, and the installation of one hundred four (104) , new fixtures, and WHEREAS, the final statement has been submitted for this project, and this final statement shows a total amount of work done as $4,166.28. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF ALDERMEN OF THE CITY OF WICHITA FALLS, TEXAS, THAT: The removal of old fixtures and installation of new High Pressure Sodium lighting fixtures is completed, and is accepted by the City of Wichita Falls, and the City Manager is directed to pay to the contractor the amount due as shown on the final statement. Ayes: Mayor Hill , Aldermen Traywick, Hampton, Russell , Smith, Thomas, and Adcock Nays : None ' Item 7a Authority was granted to advertise for bids for the following water treatment chemicals. a. 100,000 pounds sodium hexametaphosphate b. 580 tons ferrous sulphate (copperous) c. 405,000 pounds silicate of soda d. 2,000 tons quicklime Ayes: Mayor Hill , Aldermen Traywick, Hampton, Russell , Smith, Thomas , and Adcock Nays: None Item 7b Authority was granted to advertise for bids for water and sewer relocation for 1979-80 Community Development assessment paving program. Ayes: Mayor Hill , Aldermen Traywick, Hampton, Russell , Smith, Thomas, and Adcock Nays: None Item 8 Minutes of the meetings of the following boards and commissions were received. a. Traffic Commission - February 12, 1980 b. Aviation Advisory Board - February 20, 1980 c. Park Board - February 19, 1980 d. Board of Electrical Examiners - February 8, 1980 e. Arts Commission - February 19, 1980 f. Traffic Safety Council - February 6, 1980 g. Human Relations Commission - February 25, 1980 Ayes: Mayor Hill , Aldermen Traywick, Hampton, Russell , Smith, Thomas, and Adcock Nays: None Alderman Traywick reported that the work in the hangar area burned out several years ago is now complete, and in good condition. The Tax Assessor reported over three and one-half million dollars assessed valuation of aircraft in Wichita Falls, which generates $35,000 of revenue for the City. 444 Item 8, cont'd. Mayor Hill inquired when work on the restrooms at the airport will begin? Y q P 9 The City Manager stated that it would be October 1 when federal funds become available. %Item 5a Bids were considered on a truck with a hydraulic digger derrick for the Traffic Department. Two bids were received; however, the low bidder did not meet specifications on the bucket height. Moved by Alderman Thomas that the bid be awarded to Thrust Hydraulic, Carrollton, Texas, in the amount of $75,775.01 . Motion seconded by Alderman Adcock, and carried unanimously. -' Item 5c Discussion was held on award of bid for a maintenance shop at Southern Hills Park. Alderman Thomas inquired into the number of square feet in this building. s Director of Parks Bill Hursh stated that it is 20 x 30. There will be no partitions in the building except to partition off a restroom. Only one bid was received. Mr. Hursh stated that this is the second time we have bid on this size building. The bid came in $200 higher this time than the first time. Alderman Thomas wondered if the City could not construct this building cheaper? Mr. Hursh stated that they probably could if they had the time. Alderman Smith stated that our people do not have any business being contractors. They should stick to maintenance, etc. �,'RESOLUTION NO. 2470 RESOLUTION ACCEPTING BID AND AWARDING CONTRACT FOR THE CONSTRUCTION OF A SMALL MAINTENANCE SHOP AT SOUTHERN HILLS PARK. j WHEREAS, heretofore, the City of Wichita Falls advertised for bids for the construction of a park maintenance facility at Southern Hills Park; and, WHEREAS, only one bid was received, that being the bid of T. A. Litteken & Sons, Inc. in the amount of $15,713, which is hereby found to be a fair and reasonable bid. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF ALDERMEN OF THE CITY OF WICHITA FALLS, TEXAS, THAT: I The bid of T. A. Litteken & Sons , Inc. in the amount of $15,713 is hereby f accepted, and the City Manager is authorized to execute a contract with T. A. Litteken & Sons, Inc. for the construction of such facility. Moved by Alderman Smith that Resolution No. 2470 be passed. Motion seconded by Alderman Russell , and carried by the following vote. Ayes: Mayor Hill , Aldermen Traywick, Hampton, Russell , Smith, and Adcock Nays: Alderman Thomas ,j Item 5d A proposed ordinance was presented for paving a portion of Tanglewood Drive. It also repealed Ordinance No. 3606. vORDINANCE NO. 3620 AN ORDINANCE APPROVING AND ADOPTING ESTIMATES OF THE COST OF CONSTRUCTION OF IMPROVEMENTS AND OF AMOUNTS TO BE ASSESSED FOR VARIOUS STREETS DESIGNATED AS THE TANGLEWOOD DRIVE ASSESSMENT PAVING PROGRAM IN THE CITY OF WICHITA FALLS, TEXAS; FIXING TIME AND PLACE FOR HEARING OF THE OWNERS OF ABUTTING PROPERTY AND TO ALL OTHERS INTERESTED; DIRECTING THE CITY CLERK TO GIVE NOTICE OF SUCH HEARING; AND DECLARING AN EMERGENCY. Moved by Alderman Thomas that Ordinance No. 3620 be passed. Motion seconded by Alderman Adcock, and carried by the following vote. 445 Item 5d, cont'd. Ayes: Mayor Hill , Aldermen Traywick, Hampton, Russell , Smith, Thomas, and Adcock Nays: None Item 9a The public hearing was opened on hazardous structures. Joe Felix, 1502 Parkdale, appeared regarding the property owned by Charles A. Peters at 1600 Beverly. He stated that the owner is his father-in-law, and he is out of town. He requested additional time to repair the property; that he has not had the money to fix it up until lately. The Council granted him an additional 30 days, or until May 1 . Jack Terrell , 2015 Tilden, appeared in regard to his property at 2013 Tilden. He stated that he had reinjured his foot, and has not been able to work on it. He also requested an additional 30 days. The City Manager suggested that he review with the Housing Code Enforcement Officer the work which needs to be done. The Council granted him an additional 30 days. The public hearing was closed. ORDINANCE NO. 3621 ORDINANCE CLOSING HEARING AND FINDING CERTAIN BUILDINGS AND/OR STRUCTURES TO BE DANGEROUS; COMMANDING PROPERTY OWNERS TO REPAIR, VACATE, OR DEMOLISH SAID BUILDING AND/OR STRUCTURES WITHIN THIRTY (30) DAYS OF THE DATE OF THIS ORDINANCE AND DECLARING AN EMERGENCY. Moved by Alderman Thomas that Ordinance No. 3621 be passed, with the two 30-day extensions. Motion seconded by Alderman Russell , and carried by the following vote. Ayes: Mayor Hill , Aldermen Traywick, Hampton, Russell , Smith, Thomas, and Adcock Nays: None �/ Item 9b The public hearing was opened on curbing for Old Jacksboro Highway from 30th Street to Chester Avenue. v ORDINANCE NO. 3622 ORDINANCE CLOSING HEARING AND LEVYING ASSESSMENTS FOR PART OF THE COST OF IMPROVING A PORTION OF LOOP 473 (OLD JACKSBORO HIGHWAY) FROM THE NORTH PROPERTY LINE OF THIRTIETH STREET TO THE SOUTH PROPERTY LINE OF CHESTER AVENUE, AND LOT 5, BLOCK C, J. A. KEMP ADDITION IN THE CITY OF WICHITA FALLS, TEXAS FIXING CHARGES AND LIENS AGAINST ABUTTING PROPERTY THEREON, AND AGAINST THE OWNERS THEREOF; PROVIDING FOR THE COLLECTION ON SUCH ASSESSMENTS AND THE ISSUANCE OF ASSIGNABLE CERTIFICATIONS IN EVIDENCE THEREOF; RESERVING UNTO THE BOARD OF ALDERMEN THE RIGHT TO ALLOW CREDITS REDUCING THE AMOUNT OF THE RESPECTIVE ASSESSMENT TO THE EXTENT OF ANY CREDIT GRANTED; DIRECTING THE CITY CLERK TO ENGROSS AND ENROLL THE ORDINANCE BY COPYING THE CAPTION OF SAME IN THE MINUTES OF THE BOARD OF ALDERMEN OF WICHITA FALLS, TEXAS, AND BY FILING THE ORDINANCE IN THE ORDINANCE RECORDS OF SAID CITY; PROVIDING AN EFFECTIVE DATE, PROVIDING SUNDRY MATTERS INCIDENT THERETO, AND DECLARING AN EMERGENCY. Moved by Alderman Smith that Ordinance No. 3622 be passed. Motion seconded by Alderman Russell , and carried by the following vote. Ayes: Mayor Hill , Aldermen Traywick, Hampton, Russell , Smith, Thomas, and Adcock Nays: None 446 Item 1Oa Discussion was held on creation of an insurance reserve fund. The City Manager recommended that we establish a $100,000 reserve fund. The Council felt that it was in our best interest to adopt the $100,000 annual aggregate for fire and extended coverage. Moved by Alderman Traywick that we utilize the annual aggregate approach to measuring our losses. I Motion seconded by Alderman Smith, and carried unanimously. ,,ORDINANCE NO. 3623 AN ORDINANCE MAKING AN APPROPRIATION FROM THE GENERAL FUND TO ACCOUNT NUMBERS LISTED BELOW, AND DECLARING AN EMERGENCY. Moved by Alderman Traywick that Ordinance No. 3623 be passed. Motion seconded by Alderman Adcock, and carried by the following vote. Ayes: Mayor Hill , Aldermen Traywick, Hampton, Russell , Smith, Thomas, and Adcock Nays : None Item Ila A proposed ordinance was presented to allow the sale of alcoholic beverages, food, tickets, etc. in Scotland and Hamilton Ballfields on May 9-11 for a benefit for Shane Landry, a Rider High School football player who was injured last fall . This would require a waiver of Ordinance No. 3363 and Section 22-1 , paragraph A of the Code of Ordinances. City Attorney H. P. Hodge, Jr. noted that City Clerk Wilma Thomas had mentioned that this activity would fall under the solicitation ordinance also, and wondered if they would desire to waive an itinerant merchant's permit, too? Mayor Hill felt that if this ordinance is passed that a precedent would be set. Alderman Hampton asked if this would conflict with the contract with the concessionaire in these parks? It was explained that one of the sponsors is the concession holder. The requirement to secure an itinerant merchant's permit was not waived. -`ORDINANCE NO. 3624 ORDINANCE WAIVING CERTAIN PROVISIONS OF SECTION 22-1 , PARAGRAPH (a) OF THE CODE OF ORDINANCES, AND ORDINANCE NO. 3363 FOR SLOW-PITCH SOFTBALL INVITATIONAL TOURNAMENT FOR THE BENEFIT OF SHANE LANDRY. Moved by Alderman Hampton that Ordinance No. 3624 be passed. Motion seconded by Alderman Russell , and carried by the following vote. Ayes: Aldermen Hampton, Russell , Smith, Thomas, and Adcock Nays: Mayor Hill and Alderman Traywick Item llb A proposed ordinance was presented which would allow the sale of food and beer and dancing in the downtown park at 9th and Ohio by the German Air Force Squadron on May 10, 1980. Only the use of parks is waived. ORDINANCE NO. 3625 ORDINANCE WAIVING CERTAIN REQUIREMENTS OF SECTION 22-1 , PARAGRAPH (a) OF THE CODE OF ORDINANCES, AND ORDINANCE NO. 3363 FOR FIRST GERMAN AIR FORCE TRAINING SQUADRON IN DOWNTOWN PARK ON MAY 10, 1980. Moved by Alderman Thomas that Ordinance No. 3625 be passed. 447 Item llb, cont'd. Motion seconded by Alderman Russell , and carried by the following vote. Ayes: Aldermen Hampton, Russell , Smith, and Thomas Nays: Mayor Hill , Aldermen Traywick, and Adcock Item llc Discussion was held on the proposed comprehensive zoning ordinance as submitted by the Zoning Commission. Alderman Hampton stated that he has been on the Council almost eleven months. He has affirmed his convictions in the veracity of the Council . He feels all of them have the City's interest at heart. If the ordinance is adopted, it is not the ultimate answer. It will continually need to be changed. People and time will change. He stated that the Council is just as qualified as anyone to vote on this ordinance. He believes the majority is in favor of the ordinance, and also the majority feels that the citizens of Wichita Falls should have a voice in this ordinance. He feels both can be accomplished. The Council has the chance today of not passing the buck, and also give the citizens a chance to approve it. ORDINANCE NO. 3626 AN ORDINANCE ESTABLISHING COMPREHENSIVE ZONING REGULATIONS FOR THE CITY OF WICHITA FALLS, TEXAS AND PROVIDING FOR THE ADMINISTRATION, ENFORCEMENT, AND AMENDMENT THEREOF, IN ACCORDANCE WITH THE PROVISIONS OF ARTICLE 1011a, VERNON'S TEXAS CIVIL STATUTES, AND FOR THE REPEAL OF ALL ORDINANCES IN CONFLICT HEREWITH. Moved by Alderman Hampton that Ordinance No. 3626 be passed, as well as the resolution putting it on the ballot for April 5. Motion seconded by Alderman Russell . She also read a statement from the 1921 Zoning and General Plan for the City of Wichita Falls, stating that we are a few years late. Alderman Smith stated that for any ordinance to be effective, it must have the support of the people. The people should be allowed to vote on this because it affects all of them. He stated that he would be disappointed if the coming campaign is not conducted on a high plane. He would like the citizens to be properly and fully informed to make the correct decision. Alderman Traywick stated that the only question he has is in the event we adopt this ordinance today, and submit it to a referendum, if judicial action is taken to set aside the ordinance, have we irrevocably adopted this ordinance? City Attorney H. P. Hodge, Jr. stated that the point is well taken. We need to take separate votes on the ordinance and resolution. He stated that the only way the ordinance could be repealed would be by the City Council . Alderman Hampton amended his motion just to adopt Ordinance No. 3626, and Alderman Russell seconded it. Alderman Adcock stated that he feels very strongly that it is the intent of this Council to take this to the vote of the people. He does not feel it is necessary for the City Council to adopt it in order to take it to the voters. He would prefer to vote with the rest of the people on this ordinance, and he does not feel that he is passing the buck at all . He favored Alternative 5. Alderman Traywick stated that he favors land use controls, but this is an extremely controversial issue, and if it is adopted as presented, we would by default adopt it. There are many in the community who oppose it. If they want to take judicial action they may be defeated automatically. He feels we would more clearly present it to the people to allow them to vote on it. Alderman Thomas stated that he supports this position, also. It could cause problems for both sides. Mayor Hill stated that he is in favor of a strong zoning ordinance, and is also in favor of letting the people vote on it. The motion failed by the following vote: f 448 Item llc, cont'd. Ayes: Aldermen Hampton, Russell , and Smith Nays: Mayor Hill , Aldermen Traywick, Thomas, and Adcock RESOLUTION NO. 2471 RESOLUTION SUBMITTING TO THE ELECTORS AT THE APRIL 5, 1980 MUNICIPAL ELECTION THE QUESTION OF ADOPTION OF ORDINANCE NO. 3626, A COMPREHENSIVE ZONING ORDINANCE FOR THE CITY OF WICHITA FALLS. WHEREAS, the Zoning Commission has submitted to the Board of Aldermen a proposed ordinance establishing comprehensive zoning regulations for the City, which proposed ordinance has been given the No. 3626; and, WHEREAS, a large number of citizens have urged the Board of Aldermen to submit such ordinance to a referendum election, and the Board of Aldermen find that it would be in the best interest of the City of Wichita Falls to do so. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF ALDERMEN OF THE CITY OF WICHITA FALLS, TEXAS, THAT: The question of adoption of said Ordinance No. 3626 shall be submitted to the electors at the regular municipal election to be held on April 5, 1980. The official ballots for said election shall be prepared so as to permit the electors to vote "FOR" or "AGAINST" the proposition which shall be stated as follows: "Ordinance No. 3626 Which Will Establish Comprehensive Zoning Regulations in the City of Wichita Falls, Texas." Moved by Alderman Traywick that Resolution No. 2471 be passed, giving the number 3626 to the proposed zoning ordinance. Motion seconded by Alderman Thomas, and carried by the following vote. Ayes: Mayor Hill , Aldermen Traywick, Hampton, Russell , Smith, Thomas, and Adcock Nays: None Moved by Alderman Thomas that the Council go on record as supporting Ordinance No. 3626, and encouraging people to pass it on April 5. Motion seconded by Alderman Hampton, and carried unanimously. Item 12a A proposed resolution was presented approving a financial advisory services contract with First Southwest Company. RESOLUTION NO. 2472 RESOLUTION APPROVING CONTRACT WITH FIRST SOUTHWEST COMPANY FOR FINANCIAL ADVISORY SERVICES. BE IT RESOLVED BY THE BOARD OF ALDERMEN OF THE CITY OF WICHITA FALLS, TEXAS, THAT: That certain contract, a copy of which is attached hereto, with First Southwest Company for financial advisory services for the issuance of approximately $3,000,000 of instruments evidencing indebtedness for water and sanitary sewer improvements and the issuance of $10,875,000 of instruments evidencing indebtedness for general improvements is hereby approved, and the City Manager is authorized to execute the same for the City. Moved by Alderman Thomas that Resolution No. 2472 be passed. Motion seconded by Alderman Russell , and carried by the following vote. Ayes: Mayor Hill , Aldermen Traywick, Hampton, Russell , Smith, Thomas, and Adcock Nays : None I 449 Item 13a Director of Planning Roger McKinney commented on the Planning Board 's approval of the patio home concept requested by Bob Seabury. He stated that he cannot support the request for waivers, but that if the Board of Aldermen feel that this development concept is appropriate for the City of Wichita Falls , that the subdivision ordinance be amended to allow this type of development, but require that certain minimum standards be met. He stated that this is a blend between our subdivision ordinance and townhouse ordinance. Standards should be established for it. Alderman Thomas stated that in Mill Valley, almost every car is parked on the driveway, rather than in the garage. Every car had the bumper and the rear end in the street. He does not believe this is sufficient space to park a car to prevent the car from sticking out in the alley. It is a nine-foot alley, and it will really be a thoroughfare. It should be wider than nine feet. There needs to be at least 16 feet wide in order to be able to pass. Alderman Hampton stated that the concept is good. House payments have become so high that most people cannot qualify for a loan. If the approach is writing a new section to the ordinance, then he feels we should proceed with that. Moved by Alderman Thomas that the staff be instructed to look at this concept, and prepare changes to the subdivision ordinance. Motion seconded by Alderman Russell , and carried unanimously. Moved by Alderman Thomas that the minutes of the meeting of the Planning Board held February 13, 1980, be received. Motion seconded by Alderman Russell , and carried unanimously. Item 14a Discussion was held on the calendar for sale of general obligation and revenue bonds. With the interest rate at 16 3/4 percent, and expected to go to 17 percent this week, Alderman Thomas stated that whether we should go ahead with this calendar, raises a lot of doubts in his mind. Frank Medanich, First Southwest Company, stated that he is happy to see that the Council has seen fit to continue the relationship which they have enjoyed with the City since 1955. Bonds are selling at a significantly higher rate than they were four to five months ago. With the continuation of an A and A-plus rating, we could possibly break nine percent. There is no indication that there is going to be any quick serum developed to make these rates go down. For the moment, the market seems to have stabilized. On bonds with a BAA to AAA rating last week, the highest they looked at was nine percent. He would guess something less than eight and three-fourths percent. On that basis, he suggested they go ahead with this schedule, and that they develop other information for them at their meeting on March 18. Maybe it will develop that they will want to continue with this program, and perhaps they may not want to. They can develop some additional information for their consideration on the 18th, talk about it again at that time, and see where they are. This information will be needed if they decide to go ahead with it. If they have other suggestions or requests which they want within that time frame, they will be willing to go ahead with it. Alderman Thomas stated that there is no intent on anyone's part to drop the program completely, but he feels two weeks from now will tell us more. Mr. Medanich feels a lot of the press they have been reading is a panic type situation. He feels the bonds will sell , and maybe within the next two or three weeks the situation may have stablized even more. Even on May 20 if something happens, you don't have to take those bids if there is good and valid reason for rejecting a proposal , and it will not reflect on this community. Mayor Hill asked if the property we lost on April 10 will affect this bond issue. Mr. Medanich does not believe that it will . A representative from Moody' s Investor Service will be in this area late next week, and he would like to look the situation over. They will not assign any rating until we make application to them with a specific program. They just want to take a visual look at the City. i 450 Item 14a, cont'd. The City Manager stated that we have told our citizens we need these improvements, and they have agreed to them. He feels we should move ahead on the basis that we will go ahead with it. Moved by Alderman Hampton that we approve the schedule of the sale of bonds for capital improvements, subject to review by the City Council at any time. Motion seconded by Alderman Traywick, and carried unanimously. 'I tem 14b Saundra Heffington, Chairman of the Wichita Falls Arts Commission, requested funds in the amount of $535.65 for the Wichita Falls Ballet Theatre, and $535.64 for the Wichita Falls Musician's Club. Moved by Alderman Thomas that funds be approved, as requested. Motion seconded by Alderman Russell , and carried unanimously. Item 14c J. C. Boyd, Jr. , 911 Indiana, stated that people are concerned that we don' t have a way to water plants at the Activities Center, and suggested that this matter be reconsidered. Alderman Hampton stated that we were able to tap some water lines, and that water is in most of the planter boxes. Mr. Boyd also stated that he had gone to Austin with Bill Hursh and the Director of North Texas Regional Planning Commission to secure funds for beautifi- cation of the Wichita River. Wichita Falls was second highest in our $250,000 allocation. He felt that we should pass a resolution thanking Chairman Perry Bass, a former Wichitan, for this allocation. The Board of Aldermen adjourned at 10:50 A.M. PASSED AND APPROVED this day of 1980. { IiLJJ�7.GL1t� C MAYOR ATTEST: CITY CLERK 4w February 25, 1980 Honorable Mayor and City Council City of Wichita Falls Wichita Falls, Texas Gentlemen: 1. We understand that you have under consideration the authorization and issuance of bonds in the following amounts: $10,875,000 General Obligation Bonds (Various Purposes) and $3,000,000 Water and Sewer System Revenue Bonds. 2. By this proposal we offer our professional services and our facilities as Financial Advisors and agree to direct and coordinate the entire program of financing herein contemplated, and to assume and pay the expenses herein- after enumerated. It is understood and agreed, however, that this obliga- tion on our part shall not cover the cost of any litigation. 3. We agree to perform the following duties normally performed by such advisors, and to perform such other duties as, in our judgment, may be necessary or advisable: a. We will make a survey of the City's financial resources to determine the extent of its borrowing capacity. This survey will include an analysis of the existing debt structure as compared to existing and pro- jected sources of income which may be pledged to secure paym—eft of debt service, and where appropriate, will include a study of the trend of the assessed valuation, taxing power, and - the present and estimated future taxing requirements. If the revenues of a system or facility are to be pledged to repayment of the securities in question, the survey will take into account any outstanding obligations which are payable from the net revenues thereof, additional net revenues to arise from any proposed rate increase, and the additional net revenues as projected by your consulting engineers as a result of the improvements to be financed by the securities in question. We will also take into account -your future financing needs and operations as projected by your staff and/or your consulting engineers and other experts. b. On the basis of the information developed by the survey described in the above and foregoing paragraph, and on the basis of other information and experience available to us, we will submit our written recommendations on the financing in question. Our plan will include recom- mendations as to the date of issue, interest payment dates, schedule of principal maturities, options of prior payment, and any other necessary additional security provisions designed to make the issue attractive to investors. All recommendations will be based on our best professional judgment, with the goal of designing securities which can be sold under terms most advantageous to Issuer, and at the lowest interest cost consist- ent with all other considerations. c. We will advise you of current bond market conditions, forth- coming bond issues, and other general information and economic data which might normally be expected to influence the interest rates or bidding con- ditions, so that the date for the sale of the securities can be set at a time, which, in our opinion, will be favorable. d. We understand you have retained, or will retain, the firm of McCall, Parkhurst & Horton, Dallas, Texas, municipal bond attorneys ("Bond Counsel"), whose fee will be paid by us. We will assist in coordinating the assembly and transmittal to Bond Counsel of such data as may be required for the preparation of the necessary petitions, orders, resolutions, notices and certificates in connection with the authorization, issuance, sale and delivery of bonds referred to in paragraph 1. , above. e. We will coordinate the preparation and submission of the Notice of Sale, the Official Statement, and such other market documents which you may require. We will also supervise preparation of the uniform bid form, containing provisions recognized by the municipal securities industry as being consistent with the securities offered for sale. We will submit to you all such offering documents, including the Official Statement, for your proper examination, approval and certification. After such examination, approval and certification, we will furnish you with a supply of such documents and shall mail a set of the same to a list of prospective bidders, and to banks, life, fire and casualty insurance companies, investment coun- selors and other prospective purchasers of the securities. We will also supply sufficient copies of the Official Statement to the purchaser of the securities in accordance with the terms of the Notice of Sale. The cost of preparing, printing and distributing these documents will be paid by us. We will arrange for such reports and opinions of recognized independent con- sultants which may be deemed necessary or required, by you and us, in the successful marketing of the securities. The fees and charges for such services will be paid by you. f. We will advise financial publications of the forthcoming sale of your securities and furnish them with the pertinent information. g. We will make recommendations to you on the matter of a credit rating or ratings for the proposed issue and when directed by you shall coordinate the preparation of such information as in our opinion is required for submission to the rating agency or agencies. Any fees incurred in obtaining a rating or ratings will be paid by you. In those cases where the advisability of personal presentation of information to the rating agency or agencies may be indicated, we will arrange for the personal presentation. The travel expense for such presentation will be paid by you. h. We will assist you at the sale for the purpose of coordinating the receipt of bids, and the furnishing of good faith checks where indi- cated, and for the purpose of tabulation and comparison of bids, and will advise you as to the best bid, and will provide our recommendation as to acceptance or rejection of such bid. i. As soon as a bid for the securities shall be accepted by you, we will proceed to coordinate the efforts of all concerned to the end that the securities may be delivered and paid for as expeditiously as possible. We shall assist you in the preparation or verification of final closing figures, and when requested, will provide suggestions on a program of tempo- rary investment of proceeds, in consultation with Issuer's architect or consulting engineer, consistent with the construction timetable for the project. j. We will act as your agent in arranging for the printing of the securities, the cost of which will be paid by us. We will attend to their delivery to the Attorney General for approval and the Comptroller of Public Accounts for registration, it being understood that title to and ownership of the printed securities shall be in Issuer until they are delivered to the purchaser. k. We will maintain liaison with Bond Counsel in the preparation of all legal documents pertaining to the authorization, sale, issuance and delivery of the securities. Bond Counsel will furnish an unqualified approving legal opinion on the securities at the time of delivery. 1. After closing we will deliver to you a schedule of annual debt service requirements on the obligations being delivered to the purchaser. We will furnish to the paying agent or paying agents a copy of the authoriz- ing ordinance. m. We will attend any and all meetings of your governing body, or any representatives thereof, as desired by you, whenever we may be of assistance and the subject of financing is to be discussed. 4. In consideration for the services rendered by us, it is understood and agreed that our fee for each series of bonds will be as follows: TURN-KEY CONTRACTS Base Fee - Any Issue $ 3,500 Plus: $12.50 per $1,000 par value up to $ 250,000 11.50 per $1,000 par value for the next 250,000 7.00 per $1,000 par value for the next 500,000 4.65 per $1,000 par value for the next 1,500,000 . 2.75 per $1,000 par value for the next 2,500,000 2.50 per $1,000 par value for the next 5,000,000 1.95 per $1,000 par value for the next 3,875,000 The above schedule applies to both general obligation and revenue bonds, and each issue of bonds constitutes one installment; multiple installments of a voted authorization are considered as one installment and are calculated as such. If a General Obligation issue and Revenue Bond issue are sold on the same date, an adjustment in the above rates to be applied to each separate issue will be made. The adjustment will be mutually agreeable to both parties. Such adjustment will primarily relate to the cost of preparing the official notice of sale and official statement. Our fee and reimbursable expenses shall become due and payable simulta- neously with the delivery of the securities to the purchaser. 5. It is further understood and agreed that we reserve the right -to submit a bid for the securities when offered for sale. 6. This agreement shall remain in effect for a period of five years from the date hereof, provided, it may be terminated by you upon thirty (30) days' written notice to us. In the event of termination, it is understood and agreed that only the amount -due us for services or expenses to date of termination would be due and payable, and that no penalty for cancellation of the contract would be allowed. It is the intent of this provision that our services be satisfactory to you at all times. This proposal is submitted in duplicate originals. When accepted by you, it will constitute the entire agreement between Issuer and the undersigned for the purposes and considerations herein specified. Your acceptance will be indicated by the signature of your authorized officials or representatives on both copies, and the returning of one executed copy to us. Respectfully submitted, FIRST SOUTHWEST COMPANY By. Authorized Representative ACCEPTANCE Accepted pursuant to authority granted by the City Council on this the day of 1980. City Manager City of Wichita Falls, Texas ATTEST: City Secretary City of Wichita Falls, Texas (SEAL)