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Home My WebLink AboutCC 1991-12-23 Agendas I· I I I I I I I I I I I I I I I I I , CITY OF NORTH RICHLAND HILLS CITY COUNCIL AGENDA DECMEBER 23, 1991 For the Special Meeting conducted at the North Richland Hills City Hall Council Chambers, 7301 Northeast Loop 820, at 6:00 p.m. The below listed items are placed on the Agenda for discussion and/ or action. I ,·NUMBER I ITEM I ACTION TAKEN I ~1. I Call to Order I I 2. GN 91-167 Certificates of Obligation for Bedford- Euless Road Reconstruction - Resolution No. 91-48 3. GN 91-168 Proposed Issuance of General Obligation Bonds 4. PU 91-52 Award Annual Contract for Paper 5. Adjournment POSTED In A (1/ //}flu.;L j../J, /7'Ý( ~ Date ~ ___._ -f!tJfy2.~. --r~rne I I I I I I I I I I I I I I I I I I I CITY OF NORTH RICHLAND HILLS Department: Administration Certificates of Obligation for Subject: Bedford-Euless Road Reconstruction - Resolution No. 91-48 Council Meeting Date: 12/23/91 Agenda Number: GN 91-167 The final appraisals on the first tier of houses abutting Bedford-Euless Road, between Highway 26 and Strummer, have been obtained. The cost of right-of-way acquisition, engineering and appraisal fees and reconstruction/widening to five lanes is estimated to be $1,825,000. In additon, utility relocation will be required, which will be financed from the Utility Fund. The estimated additional funds needed total $1,290,000. This amount can be financed with a combination of funds as summarized below:. 11985 BOND FUNDS $ 535,000 DRAINAGE UTILITY FEE $150,000 UTILITY F UND 240,000 CERTIFICA TES OF OBLIGATION 900,000 TOTAL $1,825,000 Financial ratings by Moodys and Standard & Poors for the certificates of obligation can be obtained in January along with our street and drainage bonds. Recommendation: It is recommended that the City Council approve Resolution 91-48 and allocate the additional funding as follows: 1) $150,000 from the Drainage Utility Fee and 2) $240,000 from utility Fund Retained Earnings. Source of Funds: Bonds (GO/Rev.) Operating Budget Other \ ~_ 1.- ~ Department ~ead Signa Finance Review Acct. Number Sufficient Funds Available - / /<I/IIç<A^-f ture City Manager CITY COUNCIL ACTION ITEM , Finance Director Page 1 of I· I I I I I I I I I I I I I I I I I I RESOLUTION NO. 91-48 A RESOLUTION APPROVING AND AUTHORIZING PUBLICATION OF NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION WHEREAS, the City Council of the City of North Richland Hills, Texas, has determined that certificates of obligation should be issued under and pursuant to the provisions of V.T.C.A., Local Government Code, Subchapter C of Chapter 271, for the purpose of paying contractual obligations to be incurred for (i) street improvements, including related right-of-way acquisition, utility lines relocation and drainage and (ii) professional services; and WHEREAS, prior to the issuance of such certificates, the City Council is required to publish notice of its intention to issue the same in a newspaper of general circulation in the City, said notice stated (i) the time and place the Council tentatively proposes to pass the ordinance authorizing the issuance of the certificates, (ii) the maximum amount proposed to be issued, (iii) the purposes for which the certificates are to be issued and (iv) the manner in which the Council proposes to pay the certificates; now, therefore BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF NORTH RICHLAND HILLS, TEXAS: SECTION 1: That the City Secretary is hereby authorized and directed to cause notice to be published of the Council's intention to issue certificates of obligation in the principal amount not to exceed $900,000 for the purpose of paying contractual obligations to be incurred for (i) street improvements, including related right-of-way acquisition, utility lines relocation and drainage and (ii) professional services, such certificates to be payable from ad valorem taxes and a limited pledge of the net revenues of the City's combined Waterworks and Sanitary Sewer System. The notice hereby approved and authorized to be published shall read substantially in the form and content of Exhibit A hereto attached and incorporated herein by reference as a part of this resolution for all purposes. SECTION 2: That the City Secretary shall cause the aforesaid notice to be published in a newspaper of general circulation in the City, once a week for two consecutive weeks, the date of the first publication to be at least fifteen (15) days prior to the date stated therein for the passage of the ordinance authorizing the issuance of the certificates of obligation. PASSED AND ADOPTED, this December 23, 1991. Mayor City of North Richland Hills, Texas ATTEST: City Secretary City of North Richland Hills, Texas I I I I I I I I I I I I I I I I I I I CITY OF NORTH RICHLAND HILLS Department: Administration Proposed Issuance of Subject: General Obliqation Bonds Council Meeting Date: 12/23/91 Agenda Number: GN 91-168 On November 11, 1991 the City Council approved $1,000,000 in street bonds to t be sold in conjunction with $3,000, 000 in drainage bonds that had been previously approved. It was hoped there would be monies from this sale that could be used on Bedford Euless Road reconstruction. Cost studies on Rufe Snow Drive improvements indicate this will not be the case. There are $400,000 of approved bonds for Rufe Snow Drive that we can add to this $1,000,000 sale. The interest rates that exist at the present time would indicate that now is an opportune time to issue these bonds. Recommendation: It is recommended that the additional $400,000 of street bonds approved for Rufe Snow Drive be added to the bond sale in January 1992. Source of Funds: Bonds (GO/Rev.) Operating Budget Other Finance Review Acct. Number Sufficient Funds Available "" / /ç/~~ Head Signature City anager CITY COUNCIL ACTION ITEM , Finance Director Page 1 of CITY OF NORTH RICHLAND HILLS Department: Finance / Purchas ing Award Annual Contract for Paper C "I M . D 12/23/91 ouncl eetlng ate: Subject: Agenda Number: PU 91-52 As requested, we researched prices offered by Office Depot and Biz Mart for copy and computer paper. There would be no cost savings by purchasing paper from these businesses. In the course of research into the content of paper labeled recycled it was discovered that only 10% of the content is actually recycled. This information came from all paper vendors. The prices outlined on the attached cover sheet, PU 91-52, are only good until January 1, 1992. After this date all prices will increase from all vendors. Recommendation: It is recommended Council consider bids and award the contract for whichever option they feel best suits the needs of the city. Finance Review I I I Source of Funds: Bonds (GO/Rev.) Operating Budget o:era74H.~_ ~ f !(J- Department Head Signature CITY COUNCIL ACTION ITEM Acct. Number Various Sufficient Funds Available x ~14c/~ City Manager . Fmance Director Page 1 of I ~ CITY OF NORTH RICHLAND HILLS Subject: Award Annual Contract for Copy and computer Paper Council Meeting Date: 12/16/91 Agenda Number: PU 91-52 Department: Finance I purchas inq Formal bids have been solicited for an annual contract for copy and computer paper. As part of the bid, vendors were also requested to submit cost for a contract to supply recycled paper. The results are outlined below. option I Option II Vendor Plain Paper Recycled Paper Butler Paper $26,388 $30,148 Xerox Corp. 25,331 27,475 Metroplex Graphics 25,078 No Bid Precept 22,729 No Bid Metro Data 21,360 25,710 The quantities for the above quotes are 500 cases of 8 1/2 x 11, 50 cases of 8 1/2 x 14, and 500 cases of 14 7/8 x 11 green bar computer paper. Staff requests guidance from Council" on which option they feel best suits the interest of the city. . . I Recommendation: It is recommended Council consider bids and" award contract to the that it perfers. SUBJECT: COUNCIL ACTION: 0 APPROVED 0 DISAPPROVED COMMENTS: Finance Review ~ I I Source of Funds: Bonds (GO/Rev.) Operating Budget Other ~ ~ 711er - ---- Department Head Signature CITY COUNCIL ACTION ITEM Acct. Number Various Sufficient Funds Available x .. " F mance DIrector - 1