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Special Council Meeting <br />August 20, 2013 <br />Page 4 <br />that it is clear. Council Member Frierson said PEDC had formed a sub - committee to review <br />those items and thought that was being done. Mayor Hashmi asked about the transfer of <br />$4,051,203.12 from water and sewer. Mr. Anderson explained that was the transfer to the Fund <br />Interest and Sinking Fund (I and S) to make the debt payments for water and sewer. He also <br />pointed out that when the bond issue was finally settled and the City received the money, the <br />City had some accrued interest in the amount of $178,160 and by law that interest money would <br />have to go into the I and S Fund. Mr. Anderson proposed when he makes revisions that the <br />transfer be reduced by that amount. <br />Mayor Hashmi said at the Council meeting of August 26`" he was going to discuss the <br />quarter cent that the City receives. <br />Mayor Hashmi expressed appreciation for Mr. Anderson's good job on the budget. <br />Council Members Jenkins, Lancaster, Frierson, and Drake also expressed their appreciation to <br />Mr. Anderson. <br />5. Convene into Executive Session pursuant to Section 551.074 of the Texas Government <br />Code, to deliberate the appointment, employment, evaluation, reassignment, duties, <br />discipline, or dismissal of a public officer or employee as follows: city manager and <br />interim city manager. <br />Mayor Hashmi convened City Council into Executive Session at 7:17 p.m. <br />6. Reconvene into Open Session and possible take action on those matters discussed in <br />Executive Session. <br />Mayor Hashmi reconvened City Council into open session at 7:30 p.m. <br />7. Adjournment. <br />There being no further business, a Motion to adjourn was made by Council Member <br />Frierson and seconded by Council Member DrakeA Motion carried, 7 ayes — 0 nays. The meeting <br />was adjourned at 7:30 p.m. <br />".1" <br />ICE ELLIS, CITY CLERK <br />