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HomeMy WebLinkAbout06-25-1979 MinutesMINUTES PASCO CITY COUNCIL SPECIAL MEETING CALL TO ORDER: JUNE 25, 1979 Meeting called to order at 8:00 P.M. by the Honorable J.C. "Chet"Bailie, Mayor. ROLL CALL: By City Manager. Councilmen present were: S.K. Adams, J.C. Bailie, Charles Grigg, Ira Schmidt and Gary Clark. Councilmen E.A. Snider and Bill Wilkins were absent from the meeting. ORDINANCES: ORDINANCE NO. 2071: AN ORDINANCE OF THE CITY OF PASCO, WASHINGTON, PROVIDING FOR THE ISSUANCE OF $895,000 PAR VALUE OF "LIMITED INTER -CITY BRIDGE GENERAL OBLIGATION BONDS, 1979", OF THE CITY TO PROVIDE THE MONEYS REQUIRED TO REPAY THE STATE OF WASHINGTON THE CITY'S REMAINING OBLIGATION INCLUDING PRINCIPAL AND INTEREST THEREON ESTIMATED TO AUGUST 1, 1979, IN THE TOTAL SUM OF'$786,150.00 UNDER THE AGREEMENT ENTERED INTO BETWEEN THE CITY AND THE CITY OF KENNEWICK, WASHINGTON, UNDER DATE OF JANUARY 23, 1975, AS SUPPLEMENTED BY VARIOUS SUPPLEMENTAL AGREEMENTS THEREAFTER ENTERED INTO BETWEEN SUCH PARTIES, PERTAINING TO THE FINANCING OF THE PASCO-KENNEWICK INTER -CITY BRIDGE PROJECT OVER THE COLUMBIA RIVER AS ORIGINALLY AUTHORIZED BY ORDINANCE NO. 1434, PASSED BY THE CITY COUNCIL AND APPROVED BY THE MAYOR ON JULY 7, 1970, AND TO PAY THE CITY'S SHARE OF THE COST OF DEMOLITION OF THE OLD PASCO-KENNEWICK BRIDGE AND THE COST OF THE ISSUANCE OF THE GENERAL OBLIGATION BONDS HEREIN AUTHORIZED; SPECIFYING THE MATURITIES AND FIXING THE FORM AND MAXIMUM EFFECTIVE INTEREST RATE OF SUCH BONDS; ESTABLISHING A "LIMITED INTER -CITY BRIDGE GENERAL 08LIGATION BOND FUND, 1979;" AND PROVIDING FOR THE SALE OF SUCH BONDS. Ordinance No. 2071 was read by title only. Mr. Grigg moved that Ordinance No. 2071 be adopted. Seconded by Mr. Adams. Motion carried by roll call vote of five (5). ADJOURNMENT: Special meeting adjourned at 8:07 P.M. J.C. "Chet" Bailie, Mayor ATT ST: (�vlyn Wells, City Clerk PASSED and APPROVED this vim— day of July, 1979. 1 1