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1482 Regular Council Meeting February 27, 2012 Page 6 a portion of this project. Mr. Anderson said the one option was to finish out the project without burying the utility infrastructure and that would cost $38,500 or finish out the project including burying the utility infrastructure, which would cost $100,700. A Motion for Mr. Anderson to find the funds to complete the project including burying the utility infrastructure was made by Council Member Pickle and seconded by Council Member Frierson. Motion carried, 7 ayes — 0 nays. 32. Deliberate on re- evaluation of placing the 4B Sales Tax Option on the May 12, 2012 City Ballot; and provide direction to City Staff. Council Member Pickle said he wanted to bring this back for reconsideration, because the Council would be selecting new members to the Boards and Commissions in June or July and that would be a good time to set a new 4B Board if it passed. Council Member Pickle also said if they started discussing 4A/4B later, that it would have an impact on the PEDC budget process. Council Member Frierson said that City Council had tabled the issue at a previous meeting and there would not be enough time to educate the public before the May election. Council Member Frierson said there were too many questions to be answered and he did not want to rush into this. Council Member McCarthy agreed. Mayor Hashmi and Council Member Avila both expressed they wanted to let the voters make the decision in May. Council Members Grossnickle and Wright opted for a longer education period. A Motion to table this item was made by Council Member Frierson and seconded by Council Member McCarthy. Motion carried, 4 ayes — 3 nays, with Mayor Hashmi, Council Member Pickle, and Council Member Avila casting the dissenting votes. 33. First reading, deliberate and possibly act on ORDINANCE NO. 2012 -009: AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS DECLARING SUPPORT FOR FUNDING A PORTION OF THE RIGHT -OF -WAY ACQUISITION COSTS AND UTILITY RELOCATION COSTS FOR UPGRADING AND WIDENING STATE HIGHWAY 24 FROM THE CITY OF COOPER, TEXAS, SOUTHWEST TO THE DELTA -HUNT COUNTY LINE IN AN AMOUNT ANTICIPATED TO BE $1,450,000; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. PEDC Director Steve Gilbert introduced Sulphur River Regional Mobility Authority Presiding Officer Delbert Horton, who gave a presentation on this project (see attached Exhibit "A "). Mr. Horton said the City's first annual payment would be due in January 2013. City Council discussed funding options with regard to paying the City's portions up front or paying it out over twenty years at an interest rate of 4 %. Several Council Members favored paying the entire amount up front and several Council Members favored paying it out over the next twenty years.