06/29/94 Special Meetingk~~~~~~
CITY OF YELM
CITY COUNCIL MINUTES, WEDNESDAY, JUNE 29, 1994, 7:30 PM
CITY HALL COUNCIL CHAMBERS
SPECIAL MEETING: Sewer Revenue Bond Ordinance Adoption
Agenda/Motion
Nu~bers
1. The meeting was called to order at 4:30 pm by Mayor Wolf.
Council present: Don Miller, Martha Parsons, Amos Lawton
and Bob Gallagher. Absent: Patty Forester. Staff: Shelly
Badger and Agnes Colombo.
Councilmembers reviewed Ordinance No. 511. This ordinance
combines the Farmers Home Administration Loans. Farmers Home
Administration has offered~to purchase the bonds. Shelly
Badger explained that~the process of changing from interim
financing, done with bond anticipation notes, to long`=term
bond financing will finally allow release of the grant
portion of FmHA sewer funding.
Bond repayment information for page 7 showed:
Series A Bond: Interest rate 0.04500
Semi-annual Payment $30,617.00
Series~B Bond: Interest rate 0.04500$
Semi-annual Payment $11,505.00
Series C Bond Interest rate 0.04500
Semi-annual Payment $7,350.00
94-132 MOTION BY MARTHA PARSONS, SECONDED BY AMOS LAWTON APPROVING
ORDINANCE 511 PROVIDING FOR~~THE ISSUANCE OF $1,827,500 IN
SEWER REVENUE BONDS. CARRIED.
Meeting adjourned at 5:03 p.m.
~f
Ka hry M. Wolf, ayor
ATTEST:
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Agn s P. Colombo, City Clerk
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CITY COUNCIL MINUTES
SPECIAL MEETING - JUNE 29, 1994 PAGE 1