"This was originally scheduled for a previous council meeting, but was delayed in an effort to clarify some of the city’s concerns relative to the proposed maturity schedule for the bonds," City Attorney Darrin Coker said. "The initial maturity schedule proposed extending the debt until 2030, however the MUD’s financial advisor has since agreed to amend the maturity schedule to reflect a final maturity year of 2025; thereby staying within the existing debt structure for the MUD."
The city council voted 4-0-1, with Felicia Kyle abstaining, to approve the city's participation in an intervention into a surcharge request filed by Texas New Mexico Power Company.
The power company has filed a request with the Public Utility Commission to add surcharges to customers' electricity bills to cover costs associated with the installation of advanced metering systems. Texas New Mexico Power is proposing a $4.80 per month surcharge in order to install advanced meters to serve more than 230,000 customers. After five years, the surcharge would decrease to $4.17 per month, which would continue for an additional seven years before being discontinued.
The city council voted unanimously to appoint Forest Smith to the Parks, Recreation and Beautification Board.
The city council voted unanimously to appoint Council Member Ed Thompson to the Audit Committee. Thompson will fill the vacancy left by Kevin Cole, who did not seek re-election to the city council in May.
During the meeting the city council approved a resolution recognizing Cole's services and contributions to the city.
The city council voted unanimously to authorize City Manager Bill Eisen to enter into a development agreement with Shadow Creek Ranch Development Company, LP for the extension of Discovery Bay Drive.
The project will extend the roadway to fill an 800-foot "gap" between the road and newly-constructed frontage roads at State Highway 288. The city will split the cost of construction and landscaping for the road segment, with the city's share not to exceed $225,000.
The city council voted unanimously to approve an interlocal agreement with the City of Beaumont for cooperation in the purchase of various goods and services.
The agreement will allow Beaumont to purchase a remittance processing system utilizing a bid contract Pearland used in 2008 to purchase an identical system.
The city council took no action regarding the sale, lease, purchase or exchange or property. The item was discussed during an executive session.
The city council took no action regarding the city manager's annual goals for 2010-2011. The item was discussed during an executive session.
All other items were approved by unanimous vote. All members were present. Agenda