PRATTVILLE CITY COUNCIL
ADJOURNED MEETING
FRIDAY, APRIL 21, 2006
8:00 A.M.

The Prattville City Council met in adjourned session on Friday, April 21st at 8:00 a.m. in the Council Chambers at City Hall. Councilmembers Wood and Miller were recorded as being absent.

Councilman Renegar made a motion to reconvene the meeting and Councilman Macready seconded the motion. All were in favor (5-0). Because the items are not properly before the Council, it will be necessary for the council rules to be suspended before action may be taken.

AGENDA

1. ORDINANCE: AN ORDER AUTHORIZING THE ISSUANCE OF $1,595,000.00 PRINCIPAL AMOUNT OF GENERAL OBLIGATION WARRANTS, SERIES 2006. (ORDINANCE BOOK 2006, PAGE 015).

Councilman Renegar made the motion to suspend the rules and Councilman Macready seconded the motion. All were in favor of suspending the rules (5-0). Councilman Renegar made a motion to amend the Ordinance title to include the issuance amount of $1,595,000.00 and Councilman Fank seconded the motion. All were in favor of the amendment (5-0). The amended Ordinance was adopted as follows:

2. ORDINANCE: AN ORDER REGARDING THE ISSUANCE OF $19,875,000.00 GENERAL OBLIGATION ECONOMIC DEVELOPMENT IMPROVEMENT WARRANTS, SERIES, 2006A. (ORDINANCE BOOK 2006, PAGE 016).

Councilman Macready made the motion to suspend the council rules and Councilman Gillespie seconded the motion. All were in favor of suspending the rules (5-0). Councilman Macready made a motion to amend the Ordinance title issuance amount from $19,770,000.00 to $19,875,000.00 and Councilman Gillespie seconded the motion. During discussion, Merchant Capital representative Reid Cavnar stated that it was necessary to amend the issuance amount due to the difference in premiums and discount points because initial information was based on estimates and the actual amounts are not available until after the sale. The Ordinance was amended (5-0). There being no further discussion, the Ordinance was adopted with the following vote:

CLOSING COMMENTS:

Mayor Byard reminded members of the Council of the Water Festival, which is scheduled for today at First Baptist Church.

The Mayor reported that the fence around the tennis courts at Newton Park was damaged during the storm on Wednesday night. A meeting regarding possible insurance coverage is scheduled for later this morning.

Mayor Byard stated that the Highway 14 Bridge dedication ceremony in honor of Mayor C. Gray Price is scheduled for May 5th at 7:00 p.m.

ADJOURN:

There being no further business to come before the Council, Councilman Fank made the motion to adjourn and the motion was seconded. The meeting closed at 8:15 a.m.

APPROVED:

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Gina P. Smith
City Clerk

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Dean R. Argo, President
Prattville City Council