January 26, 2009
LECOMPTON CITY COUNCIL SPECIAL MEETING MINUTES REGARDING BONDS INVOLVED IN THE WATER PLANT PROJECT
7:00 P.M. Council President Mark Tunstall brought the Lecompton City Council special meeting to order at 327 Elmore, Lecompton, KS. Council Members Jimmy Wilkins, Christy Mallonee, Jennifer Smith and Tim McNish were present. Also present were the following: City Superintendent, Justin Van Winkle, City Clerk, Sandy Nichols, City Attorney, Lee Hendricks, and Rick Ensz, P. E. with Cooper Malone McClain, Inc. Mayor Roy Paslay was not present.
7:24 PM Mayor Paslay arrived.
Mark made a motion at 7:02 PM to go into executive session for fifteen minutes for consultation with the city attorney to discuss bond purchases. Regular meeting will resume at 7:17 PM. Tim seconded the motion and the vote passed 5 yeas, 0 nays.
Rick Ensz shared with the council information he had gathered for the process of purchasing bonds and addition work toward purchasing of bonds for the water plant project. 7:24 PM Mayor Paslay arrived. Mr. Ensz also shared the different ways fees are collected when selling bonds. Mark stated he would like to see what else would be available for purchasing of bonds. Mr. Ensz state that 95% of the work had been completed for the purchase of bonds. Mr. Ensz left the invoice for the CUSIP number that had been assigned to the process of purchasing bonds for the water plant project. Mr. Ensz left the meeting. Mr. Ensz left the meeting.
Lee stated he could contact Mr. Wolfe for a comparison with companies on purchasing of bonds.
Jennifer made a motion for the City of Lecompton to not do any additional work with Cooper Malone as underwriters or financial adviser. Jimmy seconded the motion. The vote passed 5 yeas, 0 nays.
Jimmy made a motion requesting Lee to contact Phil Wolfe regarding the purchase of bonds. Jennifer seconded the motion. The vote passed 5 yeas, 0 nays.
7:40 P.M. Jimmy made a motion to adjourn. Christy seconded the motion and the vote passed 5 yeas, 0 nays.
Sandy Nichols, City Clerk