NOTICE OF INTENT | CERTIFICATES OF OBLIGATION

05/11/2020 Meeting Minutes

MINUTES

The Madisonville City Council met in a regular council meeting on May 11, 2020  at 6:00 p.m. at 210 W. Cottonwood, Madisonville, Texas

Meeting called to order at 6:00 p.m.

Meeting called to order with the following members present:

William (Bill) Parten-Mayor
Russell Bailey-Mayor Pro Tem
Chris McGilbra-Council Member
Brady Taylor-Council Member
Lois Brown-Council Member
Jessie Jaenicke-Council Member
Camilla Viator- City Manager
Rosa Barrera- City Secretary

I. Mayor William (Bill) Parten called the meeting to order at 6:00 p.m.

II. Invocation was given by Councilmember Brady Taylor

III. Mayor Pro Tem Russsell Bailey led the Pledge of Allegiance to the American Flag and  the Texas Flag with Mayor Pro Tem Russell Bailey and City Council, staff members and visitors

IV.       VISITORS FORUM (3 MINUTES) none

V.         CONSENT AGENDA

All consent agenda items are considered to be routine by the City Council and will be enacted by a motion.  There will be no separate discussion on these items unless a Council Member so request, in which event the item will be removed from the Consent Agenda and considered in its normal position on the agenda.

 (A.) Approval of the minutes as written for April 13, 2020

    Councilmember Lois Brown moved to approve the minutes as written    Seconded by  Councilmember Brady Taylor with  each  Councilmember    Voting  AYE motion carried. 

 (B.) Approval of Accounts Payable as written for the previous month

         Mayor Pro Tem Russell Bailey moved to approve the Accounts Payable as written. Seconded by Councilmember Lois Brown (4) four approve Russell Bailey, Lois Brown,  Chris McGilbra, Brady Taylor (1) one abstained Jessie Jaenicke  motion carried.       

(C.) Discuss and possible approval of budget amendments

        Krystal Carroll, Director of Finance briefly explained to the Council about  the budget amendments. Mayor Pro Tem Russell Bailey moved to approve of  the budget amendments. Seconded by Councilmember Jessie Jaenicke with each Councilmember voting AYE motion carried.

(D.) Presentation by U.S. Capital Advisors LLC, financial advisors to the City, as to  the proposed City of Madisonville, Texas General Obligation Refunding Bonds, Series 2020 (the “Bonds”) for the purpose of refunding certain outstanding tax-exempt debt obligations of the City (the “Refunded Obligations”)

       Ben Rosenberg, Financial Advisor briefly explained the proposed        General Obligation Refunding Bonds, Series 2020 to the City Council.

(E.) Consideration and possible action in accordance with §1207.007, Texas Government Code, as amended to delegate to a designated pricing officer (the “Pricing Officer”) the authority to determine the principal amount of the Bonds to be issued and negotiate the terms of the sale thereof, and to select the specific maturities, in whole or in part, of the Refunded Obligations to be  refunded to (1) authorize bonds in an amount not to exceed $2,700,000, (2)  achieve a present value debt service savings of three (3%) or greater to be  included in a pricing certificate (the “Pricing Certificate”) to be executed by  the Pricing Officer and (3) have a maximum maturity for the Bonds which   shall not exceed August 15, 2034.

      Councilmember Jessie Jaenicke moved to approve the parameters.       Seconded by Councilmember Chris McGilbra with each Councilmember       voting AYE motion carried.

(F.)  Consideration and possible action in accordance with Section 1207.008(a)

       that the maximum amount by which the aggregate amount of payments to  be made under the refunding bonds exceeds the aggregate amount of payments that would have been made under the terms of the obligations and such refunding is in the best interest of the City in that it will provide for more level debt service

       Ben Rosenberg, Financial Advisor stated that this item doesn’t need any  action taken.

(G.)  Consideration and possible action on an Ordinance 834  authorizing the issuance of City of Madisonville, Texas General Obligation Refunding Bonds,  Series 2020; specifying the terms and features of said Bonds; providing for the payment of said Bonds by the Levy of a continuing direct annual Ad Valorem Tax upon all taxable property within the City; delegating matters related to the sale and issuance of the Bonds to an authorized City Official; providing for the redemption of certain outstanding obligations of the City; and resolving other matters incident and related to the issuance, sale,       payment and delivery of said Bonds including the approval and execution of a paying Agent/Registrar Agreement and a private placement Agreement/Memorandum; and providing an effective date

       Mayor Pro Tem Russsell Bailey moved to approve 834 authorizing the General Obligation Refunding Bonds Series 2020. Seconded by Councilmember Jessie Jaenicke with each Councilmember voting AYE motion carried.

(H.)  Consideration and possible action to authorize U.S. Capital Advisors LLC as financial advisors to the City to prepare solicitations and secure pricing within the designated parameters as approved by the City for the Bonds and to be incorporated into the Pricing Certificate and within a PrivatePlacement Agreement/Memorandum

         Councilmember Jessie Jaenicke moved to autorize U.S. Capital Advisors LLC  as Financial Advisors to the City. Seconded by Mayor Pro Tem Russell Bailey with each Councilmember voting AYE motion carried.

(I.) Consideration and possible action to authorize Mayor, City Secretary and/or other City officials to execute and deliver such certificates, agreements, affidavits, notices and documents as may be necessary to proceed with the issuance and sale of the City of Madisonville, Madison County, Texas General Obligation Refunding Bonds, Series 2020 and authorizing said Mayor, City Secretary and/or other City officials to take such action as may be necessary for the issuance and sale of said Bonds

     Councilmember Jessie Jaenicke moved to authorize Mayor, City Secretary and/or other City officials to execute and deliver such certificates, agreements, affidavits, notices and documents as may be necessary to proceed with the issuance and  sale of the City of Madisonville. Seconded by Councilmember Chris McGilbra with each Councilmember voting AYE motion carried.

(J.) Consideration and possible action to approve Bond Counsel engagement with Germer PLLC

       Mayor Pro Tem Russell Bailey moved to approve Bond Counsel engagement with Germer PLLC. Seconded by Councilmember Brady Taylor with each Councilmember voting AYE motion carried

(K.) Discuss and possible approval of Resolution 110-2020 authorizing the first amendment to public property finance act contract No. 8384 which changes the term from 3 years to 5 years.

       Councilmember Jessie Jaenicke moved to approve Resolution 110-2020   authorizing the first amendment to public property finance act contract       No. 8384. Seconded  by Mayor Pro Tem Russell Bailey with each Councilmember  voting AYE motion carried.

(L.) Discuss and possible approval of Resolution 111-2020 authorizing the first amendment to public property finance act contract No. 8384 which changes the term from 3 year to 5 years

        Councilmember Lois Brown moved to approve Resolution 111-2020 authorizing  the first amendment to public property finance act contract No.8384 which changes the term from 3 years to 5 years. Seconded by Councilmember Jessie Jaencke with each Councilmember voting AYE motion carried

(M.) Extension of the Emergency disaster declaration for the City of         Madisonville

         Mayor Pro Tem Russell Bailey moved to extend of the Emergency disaster declaration for the City of Madisonville. Seconded by Councilmember Lois Brown with each Councilmember voting AYE motion carried

(N.)  Discuss and possible approval  Ordinance 833 amending Ordinance 130 regarding culverts in the City of Madisonville.

        Mayor Pro Tem Russell Bailey moved to approve Ordinance 833 amending Ordinance 130 regarding culverts in the City of Madisonville. Seconded by Councilmember Brady Taylor with each Councilmember AYE motion carried.

VI. Department Reports:

1. Municipal Court Report

2. Police Department/ Animal Control Report

3. Code Enforcement Report

4. Fire Department Report

5. Public Works Department Report

6. Convention and Tourism Report

7. City Manager Report and Investment Report  

8.  Tax Collection Report for the City of Madisonville

      City Council went over briefly of all the reports

9.  Future Agenda Items

      none                                                                                                          

VII. Adjournment:

Mayor Pro Tem Russell Bailey moved to adjourn the meeting at 6:55 p.m. Seconded by Councilmember Jessie Jaenicke with each Councilmember voting AYE motion carried.                                                           

                                                                          ___________________________

                                                                                 William (Bill) Parten – Mayor

ATTEST:

____________________________

Rosa Barrera – City Secretary