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Council approves bond bids, ordinances and multiple infrastructure contracts
Summary
Council received bids and approved sale of $14.5 million and $2.5 million bond series, adopted related ordinances (including emergency clauses), authorized several resolutions and awarded construction and engineering expenditures including a $565,940 city portion construction award and $50,000 for drainage design from Prop 6.
Finance staff reported bids for bond sales and recommended awards to TD Financial Products LLC on lowest true interest cost for both the $14.5 million 20-year sale and the $2.5 million 10-year B series; council received bids and voted to award and to adopt ordinances (Ordinance No. 3899 for the $14.5 million sale and Ordinance No. 3900 for the $2.5 million sale) including emergency clauses as presented.
On infrastructure and procurement, Charlie Bright presented a request to use Proposition 6 general obligation bond funds to design drainage improvements for the 6100 Business Center Fabricform channel, requesting $50,000 to proceed with engineering; council moved and approved the expenditure after staff said property owners tentatively support a design-phase effort and potential future cost-sharing.
Bright also presented a waterline and drainage construction package for Old Town Houston Street and recommended awarding the city portion to Gober Construction as the lowest responsible bidder; staff recommended a city portion award of $565,940. Council moved, seconded and approved the award to Gober Construction.
Additionally, the council approved a resolution (17-23) authorizing the city attorney to enter a final journal entry of judgment and foreclose a utility easement in a specified area, as presented by staff.
Several motions and roll calls were recorded; transcript contains motions and roll calls though individual roll-call votes were not transcribed in-name in the record.
