12/11/2001 Minutes
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OFFICIAL PROCEEDINGS
CITY OF GRAND ISLAND, NEBRASKA
MINUTES OF CITY COUNCIL SPECIAL MEETING
December 11, 2001
Pursuant to due call and notice thereof, a Special Meeting of the City Council of the City of
Grand Island, Nebraska was conducted in the Council Chambers of City Hall, 100 East First
Street, on December 11,2001. Notice ofthe meeting was given in the Grand Island Independent
on December 7, 2001.
Mayor Ken Gnadt called the meeting to order at 7:00 p.m. The following members were present:
Councilmembers Ward, Seifert, Larson, Homady, Whitesides, Haase, Murray, Walker and
Sorensen. Councilmember Pielstick was absent. The following City Officials were present: City
Administrator Marlan Ferguson, City Clerk RaNae Edwards, Finance Director David Springer
and City Attorney Charlie Cuypers.
PLEDGE OF ALLEGIANCE was said.
ORDINANCE:
Ordinance #8706 - Approving Issuance of General Obligation Bonds. David Springer, Finance
Director, reported that due to the markets and the low interest rates it was time to refinance the
general obligation bonds for the South Locust Project. Bill Beavers representing Ameritas was
present and explained the advantage of refinancing short term debt.
Bruce Lefler, Vice President from Ameritas Investment Corporation explained the debt service
schedule. A total of $4,370,000.00 bond would be issued for the South Locust Project. These are
Nebraska issued bonds and are tax free.
Councilmember Sorensen moved that the statutory rules requiring ordinances to be read by title
on three different days be suspended and that ordinances numbered:
#8706 - Consideration of Approving Issuance of General Obligation Bonds
be considered for passage on the same day upon reading by number only and that the City Clerk
be permitted to call out the number of this ordinance on its first reading and then upon final
passage and call for a roll call vote on each reading and then upon final passage. Councilmember
Hornady seconded the motion. Upon roll call vote, all voted aye. Motion adopted.
Mayor: Is there anyone in the audience interested in these ordinances? No public testimony was
heard.
City Clerk: Ordinance #8706 on first reading. All those in favor of the passage of this ordinance
on first reading, answer roll call vote. Upon roll call vote, all voted aye.
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Page 2, City Council Special Meeting, December 11, 2001
City Clerk: Ordinances #8706 on final passage. All those in favor of the passage of this
ordinance on final passage, answer roll call vote. Upon roll call vote, all voted aye.
Mayor: By reason of the roll call votes on first reading and then upon final passage, Ordinance
#8706 is declared to be lawfully passed and adopted upon publication as required by law.
ADJOURNMENT: Adjourn the meeting at 7:20 p.m.
Respectfully submitted,
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RaNae Edwards
City Clerk