Min CC 01/05/2006 - CIP Joint JOINT CITY COUNCIL.AND CIP MEETING
CIBOLO MUNICIPAL BUILDING
200 S.MAIN
January 5,2006
6:00 P.M.
Minutes
1. Call to Order—Mayor Sutton called the meeting to order at 6:04 P.M.
2. Roll Call—City Council
Councilwoman Hartman
Councilman Kelly
Councilman Ramcharan was absent
Councilman Troncoso
Councilman Campbell
LIP Committee
Sheldon Edmondson
George Mata
Tony Krasnai
Bryon Mills
3. Citizens to be Heard
No citizens signed up to speak.
4. City Manager,Todd Parton briefed everyone on the Capital Project List. He explained the projects and
priorities in Water,Wastewater and Drainage.The funds required to complete these projects were discussed in
detail and questions answered. Mr.Mark McLiney explained to all in attendance the three financial mechanisms
available to the city to complete these projects.First option was bonds that the citizens of Cibolo have already
turned down. Second he explained the use of tax notes. 'Tax notes are a common tool used by many cities and
they usually have a seven year maximum life. The third option is using Utility Revenue Bonds. This type of
bond can be issued anywhere from 10 years to 40 years. The longer the note the more interest you pay. Mr.
McLiney stated that it would take approximately one month if the council decided to pursue the use of tax notes
and revenue bonds.
5. Adjournment
Councilman Campbell moved to adjourn at 8:05 P.M. Seconded by Councilman Kelly. For: All,Against:
None.
PASSED AND APPROVED THIS 24THDAY OF JANUARY 2006.
Jo Sutto
Mayor
AT7:
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Peggy Cimics
City Secretary