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PROSECUTION OF THOSE PERSONS CHARGED WITH VIOLATIONS OF LAW CAUSING OR <br />CONTRIBUTING TO SUCH ACCIDENTS" BE DELETED; REPEALING ALL ORDINANCES OR <br />PARTS OF ORDINANCES IN CONFLICT HEREWITH; AND PROVIDING FOR AN <br />EFFECTIVE DATE OF APRIL 1, 1992 <br />was presented. A motion was made by Councilman Burnett, seconded by <br />Councilman Booth for adoption of the ordinance. The motion carried 7 <br />ayes, 0 nays. <br />City Manager Malone called for the tabulations of bids for Waterworks <br />and Sewer System Revenue Bonds, Series 1992, in the amount of <br />$9,700,000.00, and Dan Almon, Financial Advisory, Southwest Securities, <br />presented the tabulation as follows: <br />COMPANY NET <br />INTEREST COST <br />Kemper Securities Group, Inc. <br />$7.945,436.11 <br />Effective Rate of <br />6.63% <br />First Southwest Company <br />$7,915,686.21 <br />Effective Rate of <br />6.60885% <br />Southwest Securities, Inc. <br />$8,020,901,09 <br />Effective Rate of <br />6.6967% <br />Merrill Lynch & Co. <br />$7,937,828.15 <br />Effective Rate of': <br />6.6273% <br />Smith Barney, Harris Upham & Co. <br />$7,900,260.96 <br />_ Effective Rate of <br />6.595979% <br />Mr. Almon told the Council that all bids indicated by use of MBIA Bond <br />Insurance. Mr. Almon recommended the low bid of Smith Barney, Harris <br />Upham & Company With an effective interest rate of $7,900,260.96, <br />effective rate of 6.595979% which appeared to be the best bid.. <br />ORDINANCE NO. 92 -013 <br />AUTHORIZING THE ISSUANCE OF WATERWORKS AND SEWER SYSTEM REVENUE BONDS, <br />SERIES 1992, IN THE PRINCIPAL AMOUNT OF $9,700,000.00 AND ORDAINING <br />OTHER MATTERS RELATING TO THE SUBJECT <br />was presented. A motion was made by Councilman Booth, seconded by <br />Councilman Burnett for adoption of the ordinance. The motion carried 7 <br />ayes, 0 nays. <br />Mayor Fisher announced that at this time the Council would take a break. <br />Mayor Fisher reconvened the Council meeting at 7:25 P. M. <br />Resolution No. 92 -022, authorizing and directing the City Attorney, T. <br />K. Haynes, to proceed 'to condemn property for the Jackson Street Site <br />for drainage *easement for said project for the Housing Authority of the <br />City of"Paris Public Housing Jackson Street Site, was presented. A <br />motion was made by Councilwoman Smith, seconded by Councilwoman Ingram <br />for approval of the resolution. The motion carried 7 ayes, 0 nays. <br />