1981-07-31
CITY OF SOUTHLAKE
667 North Carroll Avenue
Southlake, Texas
EMERGENCY CITY COUNCIL MEETING
July 31,1981
7:30 p.m.
AGENDA
1. Consider: Bond Program
2. Discussion: Budget FY82
I hereby certify that the above emergency agenda for City Council
Meeting was posted on the bulletin board and on the front door
in City Hall, 667 North Carroll Avenue, o Thursday, July 20,1981
at 11 a.m.
City Secretary
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o o CITY OF SOUTHLAKE, TEXAS
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MINUTES OF THE EMERGENCY CITY COUNCIL
tIrl °z v d d MEETING.
a d
M z Irl DATE: JULY 31,1981
d M ° TIME: 7:30 p.m.
PLACE: CITY OF SOUTHLAKE, COUNCIL CHAMBERS
(D 0 z
C/) 667 NORTH CARROLL AVENUE, SOUTHLAKE
NAME OF z z a TEXAS.
COUNCILPERSON 1
PAGE: INDEX
COUNCILPERSONS PRESENT: Mayor; Sam
Sparger, Mayor Pro Tem; LLoyd Latta,
Councilpersons: Shari Massey, Bruce
McCombs, Johnny Westerholm.
COUNCILPERSON ABSENT: Modine Strick r
INVOCATION: Mayor Sam Sparger
The Mayor briefed Council on the
serious condition of our squad cars
for the Police Department. McCombs
reported that we are out of cars,
and that reports show it to be un-
advisable to repair them, due to
their condition.
Mayor Sparger briefed Council on the
progress of our Bond Program. He
indicated that if we want to sell
Bonds before the end of 1981, we will
need to add the debt service to the
FY82 Budget, therefore, a tax in-
crease may be necessary. However,
selling bonds in 1982, we will not
have to add debt service until FY83
Budget.
Sparger further explained to Council
that presently it takes 6~ or
$29,287.98 for our general fund debt
service, where after the half million
dollar bond program it will take
another $60,000 per year to retire
the debt. Combined will be
$87,863. or 18~ to retire the old
and new debt service.
Latta x x After a lengthy discission, motion
Westerholm x was made and unanimously approved
r"Combs x x to pursue the bond election with the
3sey x intension of selling bonds in the
calendar year 1982.
CD o CITY OF SOUTHLAKE, TEXAS
EMERGENCY CITY COUNCIL
n Cn __3 -A Z y d d MINUTES OF THE MEETING. JULY
DATE: ,1981
x rn z v 31
7:30 p.m.
rn d rn c~ o TIME:
PLACE: CITY OF SOUTHLAKE, COUNCIL CHAMBERS
667 NORTH CARROLL AVENUE, SOUTHLAKE
0 0 ~
NAME OF TEXAS, COUNCILPERSON z z
PAGE: 2 INDEX
Mayor will notify Mr. Tom Anderlitch,
our bonding agent, Monday and ask
that he proceed with plans for an
election.
A general discussion was held concern-
ing the budget.
The meeting was adjourned by Mayor
Sparger.
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4Mayorr
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City Secretary
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