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Item 4ACITY OF SOUTHLAKE TEXAS ITEM 4A SPECIAL CITY COUNCIL MEETING MINUTES AUGUST 11, 2021 LOCATION: 1400 Main Street, Southlake, Texas 76092 Council Chambers in Town Hall CITY COUNCIL PRESENT: Mayor John Huffman, Mayor Pro Tern Chad Patton, Deputy Mayor Pro Tern Randy Williamson and Councilmembers Kathy Talley, and Randy Robbins. CITY COUNCIL ABSENT: Councilmembers Ronell Smith and Amy Torres-Lepp. STAFF PRESENT: Assistant City Manager Alison Ortowski, Deputy Director of Public Relations Pilar Schank, Chief Financial Officer Sharen Jackson and City Secretary Amy Shelley. 1. CALL TO ORDER 2. APPROVE RESOLUTION NO. 21-031, ORDERING A CITY BOND ELECTION TO BE HELD ON NOVEMBER 2, 2021 FOR THE ISSUANCE OF A GENERAL OBLIGATION BOND. APPROVED City Manager Shana Yelverton presented Item 2 and answered questions from Council. Although not a public hearing, Mayor Huffman invited anyone who wished to speak on this item, to come forward. There were no speakers. Motion was made to approve Item 2, Resolution No. 21-031, ordering a City Bond Election to be held on November 2, 2021 for the issuance of a General Obligation Bond, and noting the following: The Election shall be held in the CITY OF SOUTHLAKE, TEXAS on the 2nd day of November 2021 (Election Day), which is a uniform election date under the Texas Election Code, as amended, and is not less than 78 days nor more than 90 days from the date of the adoption of this resolution, for the purpose of submitting the following measure to the qualified voters of the City: PROPOSITION A "Shall the City Council of the City of Southlake, Texas be authorized to issue and sell one or more series of general obligation bonds of the City in the aggregate principal amount of not more than $50,000,000 for the purpose of designing, SPECIAL CITY COUNCIL MEETING MINUTES, AUGUST 11, 2021 Page I of'3 acquiring, constructing, renovating, improving, and equipping the City parks (including passive parks and open space improvements), and acquiring lands, interests in lands, and rights -of -way necessary thereto, such bonds to mature serially or otherwise (not more than 40 years from their date) in accordance with law; and any issue or series of said bonds to bear interest at such rate or rates (fixed, floating, variable or otherwise) as may be determined within the discretion of the City Council, provided that such rate of interest shall not exceed the maximum rate per annum authorized by law at the time of the issuance of any issue or series of said bonds; and shall the City Council of the City be authorized to levy and pledge, and cause to be assessed and collected, annual ad valorem taxes, within the limitations prescribed by law, on all taxable property in said City sufficient to pay the annual interest and provide a sinking fund to pay the bonds at maturity and the cost of any credit agreements executed in connection with the bonds?" The official ballot shall be prepared in accordance with the Texas Election Code, as amended, so as to permit voters to vote "FOR" or "AGAINST" the aforesaid measures which shall appear on the ballot substantially as follows: PROPOSITION A "THE ISSUANCE OF NOT TO EXCEED $50,000,000 OF CITY OF SOUTHLAKE, TEXAS GENERAL OBLIGATION BONDS FOR PARK (INCLUDING OPEN SPACE AND PASSIVE PARKS) IMPROVEMENTS, AND THE IMPOSITION OF A TAX SUFFICIENT TO PAY THE PRINCIPAL OF AND INTEREST ON THE BONDS" Early voting begins on Monday, October 18, 2021, and ends on Friday, October 29, 2021. Election Day is Tuesday, November 2, 2021. Election Day Polling Locations are open from 7 a.m. to 7 p.m. Motion: Patton Second: Williamson Ayes: Talley, Patton, Huffman, Williamson Nays: Robbins Absent: Smith and Torres-Lepp Approved: 4-1 In accordance with Section 4.21 of the City Charter, the caption for this item is listed as follows: RESOLUTION NO. 21-031 SPECIAL CITY COUNCIL MEETING MINUTES, AUGUST 11, 2021 Page 2 of 3 A RESOLUTION CALLING A BOND ELECTION TO BE HELD IN THE CITY OF SOUTHLAKE, TEXAS; MAKING PROVISION FOR THE CONDUCT OF AN ELECTION; AND RESOLVING OTHER MATTERS INCIDENT AND RELATED TO SUCH ELECTION 3. SPECIAL MEETING ADJOURNED Mayor Huffman adjourned the meeting at 5:17pm. *An audio recording of this meeting will be permanently retained in the City Secretary's Office. MINUTES APPROVED ON THIS, THE 17T" DAY OF AUGUST 2021. John Huffman Mayor ATTEST: Amy Shelley, TRMC City Secretary SPECIAL CITY COUNCIL MEETING MINUTES, AUGUST 11, 2021 Page 3 of'3