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<br />MINUTES OF THE REGULAR MEETING OF THE CITY COUNCIL
<br />February 10, 1997
<br />The City Council of the City of Paris met in regular session, Monday,
<br />February 10, 1997, 6:00 P. M., City Council Chambers, City Hall, Paris,
<br />Texas. Mayor Eric S. Clifford called the meeting to order with the
<br />following Councilmembers present: Charles Fulbright, Alan Boyd,
<br />Richard Hunt, Charlie Neeley, Millie McDonald, and Thetis L. Elder.
<br />City Manager, Michael E. Malone, City Attorney, T. K. Haynes, and City
<br />Clerk, Mattie Cunningham were also present.
<br />Invocation was given by W. E. Anderson, Director of Finance for the
<br />City of Paris.
<br />Mayor Clifford asked if there were any corrections to the minutes of
<br />previous meetings, there being none, the minutes were approved as
<br />presented.
<br />City Manager Malone announced that the next item on the agenda was
<br />receipt of reports from Committees, Boards, and Commission, and the
<br />minutes from the Paris Public Library Advisory Board, Paris Economic
<br />Development Corporation, and Paris -Lamar County Board of Health had
<br />been presented to the Council with no action being required.
<br />City Manager Malone called for consideration of and action on approving
<br />the Official Statement for the issuance of $5,000,000.00 or less City
<br />of Paris, Paris, Texas, Waterworks and Sewer System Revenue Bonds,
<br />Series 1997. City Manager Malone reminded the Council that they had
<br />authorized the City to proceed with the sale of the revenue bonds to
<br />fund Water and Sewer Plant improvements and for professional services
<br />needed to accomplish the same.
<br />After discussion, a motion was made by Councilman Boyd, seconded by
<br />Councilman Fulbright approving the Official Statement for the issuance
<br />of $5,000,000.00 or less City of Paris, Paris, Texas, Waterworks and
<br />Sewer System Revenue Bonds, Series 1997. The motion carried 7 ayes, 0
<br />nays.
<br />City Manager Malone announced that the next item for consideration was
<br />a public bid opening for the issuance of $5,000,000.00 or less City of
<br />Paris, Paris, Texas, Waterworks and Sewer System Revenue Bonds, Series
<br />1997, and requested that the Director of Finance, W. E. Anderson and
<br />Dan Almond, Financial Advisor, to come forward and open the bids.
<br />W. E. Anderson, Director of Finance, came forward opening the bids and
<br />announced the official bids as follows:
<br />First Southwest Company - Mgr.
<br />Legg Mason Wood Walker, Inc.
<br />Southwest Securities
<br />William R. Hough & Co.
<br />Morgan Keegan & Co., Inc.
<br />Dain Bosworth, Inc.
<br />Prudential Securities Inc.
<br />Interest Rate
<br />11 11
<br />if 11
<br />5.221561 %
<br />5.224303 %
<br />5.1835 %
<br />5.1861 %
<br />5.2268403%
<br />5.1981 %
<br />5.1784 %
<br />
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