Minutes 09/23/1997 - Laserfiche WebLink

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TUESDAY, SEPTEMBER 23. 1997 Environmental Quality had been called in to assist, and that air sampling had been considered, the problem had been so infrequent and irregular that this was not considered practical, and that the source remains a mystery. Mr. Dyches stated, however, that he would continue to work with Mr. Williams on the problem. There being no further comments offered by citizens, Mayor Adams dosed the Neighborhood Town Meeting, and congratulated City staff on a job well done. Council next considered the need to conduct a Public Heating and consider adoption of Ordinance Number 97-21, authorizing the issuance of up to $2,000,000 in General Obligation Bonds for the financing of School projects. City Manager Reynolds reviewed the history of events leading up to the action under consideration,' as well as the purposes for which the funds would be used. The purposes stated included $1,000,000 in technology improvements and $1,000,000 in general capital improvements and equipment. When asked by Vice-Mayor Crabtree what the source of funds for repayment of the bonds would be Mr. Reynolds stated that the ~mds would come from Meals Tax revenue. Following these comments Mayor Adams opened the Public Hearing. A gentleman from the audience asked whether the Meals Tax funds would generate enough funds to pay the debt on the bonds, to which Mr. Reynolds answered yes. The Mayor noted that only about half of the current Meals Tax revenue was committed to the current $5,000,000 in school debt. The Mayor also noted that the intent was to repay the bonds under consideration in two years. There being no further public comments offered following several calls for same, the Mayor declared the Public Hearing dosed. Councilmember Teague then observed that the bonds under consideration would be used for important investments in the schools, and Vice-Mayor Crabtree stated that a good example of such investment could be seen in the room and facility in which the Council meeting was being held, as well as in the academic performance of the children in the school system. Middle School Principle Harry Davis agreed. Thus, upon motion duly seconded, and by unanimous vote, Ordinance Number 97-21 was adopted, on an emergency basis, a copy of which is provided as an attachment to these minutes. ( See Appendix)