Littlefield’s City Council conducted a special meeting Tuesday, Sept. 15, in the City Council Chambers, 525 Phelps Avenue, where they considered six-item agenda.
All city council members were present, along with City Manager Mitch Grant; Treasurer Andrew Eisenwine; and City Secretary, Janine Butler.
Mayor Eric Turpen called the meeting to order at 6 p.m., then gave the invocation, followed by leading the Pledge of Allegiance, and opened the session for Public Comments on any of the Agenda Items.
No one requested to make a comment, so the public comment agenda item was closed.
All Council Members were present, as City Manager Mitch Grant explained the process, including adverising, postings, financial advisement leading up to the ordinance: on an ordinance authorizing the issuance, sale and delivery of up to $4,500,000 in aggregate principal amount of “City of Littlefield’s combination tax and revenue certificate of oblibation, Series 2020.”
Brad Angst, with Stifel, Nicholaus & Co., Inc. was present by phone to answer questions and explain any details.
After some discussion, questions and answers, Council Member Kenny Rucker made the motion “to approve an Ordinance Authorizing the Issuancee, Sale and Delivery of $4,335,000 in Aggragate Principal Amount of “City of Littlefield combination Tax and Revenue Certificate of Obligation, Series 2020; Securing the payment thereof by authorizing the levy of an annual Ad Valorem Tax and a Pledge of Certain Surplus Revenues of the City’s Waterworks and Sanitary Sewer System; Approving and Authorizing the Execution of all Instrumemts and Procedures and Precedures related thereto, including a Paying Agent/Registrar Agreement and a Purchase and Investment Letter; Engaging Constultants, including a Fiancial Advisor, and Declaring an effective date.”
Mayor Pro tempore Michael Rangel seconded the motion, and the motion passed with four “ayes” and one “nay” vote by Council Member Ben Warren. There were no abstentions.
Mayor Turpen adjourned the meeting at 6:58 p.m.