916 916 CITY OF AUSTIN, TEXAS MINUTES OF THE CITY COUNCIL CITY OF AUSTIN, TEXAS Special Meeting December 01, 1953 2:00 P.M. Council Chamber, City Hall The meeting was called to order with Mayor McAden presiding. Roll Call: Present: Councilmen Long, Pearson, Thompson, White, Mayor McAden Absent: None Present also: W. E. Seaholm, City Manager; W. T. Williams, Jr., City Attorney; D. C. Kinney, Superintendent of Electric Department; Albert Davis, Super- intendent of Water Department; C. G. Levander, Director of Public Works; J. D. Huffman, Jr., Director of Finance. The City Manager presented to the Council a tentative draft of the proposed budget for the period beginning January 1, 1954, and ending September 30, 1954; and proposed expenditures for the period October 1, 1954 through December 31, 1954. (Copy on file in City Clerk's Office under Budget, 1954) Discussion was held on the tax collections for the last three months of the year. Councilman Long felt that the budget tied in with the ten year plan, and was not ready to adopt a ten year plan without having a competent engineering firm to study (1) the prospective growth and demand; (2) the availability of surplus power to be purchased and the relative merits of the hydro-electric and steam plant; and (3) the economical feasibility of the results of the program. The City Manager pointed out that Burns & McDonnell, Consulting Engineers, made a study of the Power Plant and Water Distribution System, the study to cover the next several units. The only thing not studied by outside engineers was the electric distribution system, which the City engineers were capable of handling. He explained the accrued depreciation on the electric distributon and water systems due to the fact that during the war years and even up to the present time it was not possible to get certain materials, and there was a limited amount CITY OF AUSTIN, TEXAS 912 917 of money to spend, and then there was the money that went into the general fund. Councilman Thompson made inquiry about the revaluation of the property that was delayed another year. The City Manager reported on the revaluation in that it was for the purpose of equalizing values, and the Council would determine the assessed valuations. Councilman Thompson noted there was nothing could be done about collecting additional tax revenue next year; that the Council could adjust tax rates to increase tax revenue of the city. He noted the small amount of surplus which would not include the committments made on water improvement in South Austin. He noted the necessity of voting bonds to relieve the budget of some of these expenditures, or shutting down the business. Councilman Long submitted a list of questions regarding appropriations and unfinished projects, and stated there was spending above appropriations set out. (List of Questions on File in City Clerk's Office under BUDGET, 1954) The City Manager discussed. the budget in detail. Discussion of bond needs and the appointment of a committee was held. The City Manager suggested getting in touch with MR. WINSTON JACKSON, and get him to contact the bondholders of the City's revenue bonds and get a commitment from them on the City's recalling the bonds. The City Manager wanted Council action on getting these commitments through Mr. Jackson. Councilman Thompson moved that the City Manager be authorized to contact the bondholders of our present revenue bonds with the object of securing options whereby these bonds can be refunded or exchanged if other revenue bonds are authorized and issued. The motion, seconded by Councilman Pearson, carried by the following vote: Ayes: Councilmen Pearson, Thompson, White, Mayor McAden Noes: None Present but not voting: Councilman Long The Mayor stated there were 30 people left off the pay increase this year and suggested a five percent increase across-the-board raise. No action was taken at this time. Councilman White inquired about vacant property owned by the City. Councilman Thompson asked that a list of city-owned property be compiled and furnished the Council. There being no further business, the Council adjourned at 6:00 P.M. ATTEST: Ban Nolly City Clerk APPROVED: Cam Mayor