December 5, 2013

 Mayor Stock called this special meeting to order at 6:32 PM.  Mayor Stock and Councilwomen Scott, Kline, Guard and Councilman Schontz attended the meeting.

 The purpose of this special meeting was:  

 1. Motion for the introduction and first reading of City Ordinance No. 1684, an ordinance of the City of Butler authorizing and directing the incurrence of non-electoral debt in an amount not to exceed four and one-half million dollars through issuance of a series of general obligation bonds for the purpose of refinancing the Parking Authority’s 2003-series general obligation bonds and for the purpose of constructing a parking deck on South McKean Street and West Cunningham Street and for other purposes stated therein.

 Motion by Mayor Stock.  Second by CW Kline.

 Discussion was led by Anthony Ditka, Bond Council for the City of Butler.  Mr. Ditka summarized the 6 steps of the process and the timeline.

 2.  After much discussion about the projected costs of the garage a motion was made by Mayor Stock to amend the original motion to increase the “not to exceed” amount to six and one-half million dollars.  Second by CW Kline.  All voted aye.

 Discussion following the amendment to the original motion was about options that will close the gap between the current parking authority bond payment and the proposed bond payments.

 The amended motion by Mayor Stock is for the introduction and first reading of City Ordinance No. 1684, an ordinance of the City of Butler authorizing and directing the incurrence of non-electoral debt in an amount not to exceed six and one-half million dollars through issuance of a series of general obligation bonds for the purpose of refinancing the Parking Authority’s 2003-series general obligation bonds and for the purpose of constructing a parking deck on South McKean Street and West Cunningham Street and for other purposes stated therein.  Second by CW Kline. 

 All voted aye.

 Mayor Stock adjourned the meeting at 7:34 PM.