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Regular Council Meeting April 12, 2021 Page 3 Regular Agenda 7. Discuss, continue the public hearing, and act on an Ordinance considering the petition of Rebecca Haralson, Executrix of George Jennison Estate for a change in zoning from a One -Family Dwelling District No. 2 (SF -2) to an Office District (0), in the Morningside Estates, Block P, Lot 3, LCAD 13441, located in the 800 Block of S.E. 38a' Street. (A motion to remove this item from the table is required before deliberating.) A Motion to remove this item from the table was made by Council Member Portugal and seconded by Council Member Pilgrim Motion carried, 7 ayes — 0 nays. Mayor Clifford said there was apparently an offer on the property which would make this zoning change request moot, and suggested they postpone acting on this item. A Motion to continue the public hearing and table this item to April 26 was made by Mayor Clifford and seconded by Council Member Pilgrim. Motion carried, 7 ayes — 0. 8. Conduct a public hearing, discuss and consider all matters incident and related to the issuance and sale of the City of Paris, Texas Combination Tax and Surplus Revenue Certificates of Obligation, Series 2021, including the adoption of ORDINANCE NO. 2021-008: AN ORDINANCE OF THE CITY OF PARIS, TEXAS, AUTHORIZING THE ISSUANCE OF SUCH CERTIFICATES, APPROVING AN OFFICIAL STATEMENT, A PAYING AGENT/REGISTRAR AGREEMENT AND ENGAGEMENT LETTER OF BOND COUNSEL. Finance Director Gene Anderson explained that February 8, 2021, the City Council voted to adopt a resolution stating intent to issuance certificates of obligation to construct a new wastewater plant. Mr. Anderson said we were at the point of conducting a public hearing and approving a resolution if we wished to move forward. He introduced Mark McLiney with SAMCO Capital to review the bid results. Mr. McLiney reported that the City ended up with great results, six bids which included bids from Texas and all over the country. He said the fact that the City of Paris' financials were in such good shape really drove the interest rates. He also the winning bid was Hilltop Securities out of Texas with an interest rate of 2.216495%. Mr. McLiney reported that they had budgeted a 3% interest rate, and the lower interest rate resulted in $7 million $500 hundred thousand dollars less than what was budgeted. He explained this was Phase I and Phase II would be down the road three or four years. Mayor Clifford opened the public hearing and asked anyone wishing to speak about this item, to please come forward. With no one speaking, Mayor Clifford closed the public hearing. A Motion to approve issuance of all matters incident and related to the issuance and sale of the city of Paris, Texas Combination Tax and Surplus Revenue Certificates of Obligation, Series 2021, including the adoption of an Ordinance authorizing the issuance of such Certificates, approving an Official Statement, a Paying Agent/Registrar Agreement and an engagement letter of Bond Counsel was made by Council Member Pilgrim and seconded by Council Member Portugal. Motion carried, 7 ayes — 0 nays.