) CITY OF AUSTIN, TEXAS MINUTES OF THE CITY COUNCIL CITY OF AUSTIN, TEXAS Special Meeting June 20, 1960 COUNCIL CHAMBERS, CITY HALL The meeting was called to order with Mayor Miller presiding. Roll Call: Present: Absent: Councilmen Bechtol, Perry, White, Palmer, Mayor Miller None The Mayor announced that this was a called Special Meeting for the purpose of reviewing the prospective $60 million bond spending program to be extended over the following five years. The bond spending program, recommended by City Manager W. T. Williams, would use $50 million of the new bond money into the city's life lines, the electric water and sewage utility system. The program, if initiated would have to be authorized by the voters. The other $10 million would be distributed in general tax obligation for street paving, bridges, drainage, airport expansion, fire stations, library sites and recreation improvements. The meeting was attended by a blue ribbon citizens group, bankers, representatives of the Chamber of Commerce, the Junion Chamber of Commerce, the Austin Real Estate Board and several past Councilmembers and administrative officials. Mr. Williams stated that he believed he and his department heads had worked out a schedule for selling the bonds which would not require any increase in utility rates or in the interest and sinking fund tax rates for debt retirements. He did not guarantee that the city's other tax rate, the general fund rate, would not increase as the cost of city government increased. Mr. Williams noted that voters would have to approve the expenditures of $28 million for the electric system, $12,550,000 for the water system, and $9,450,000 for the sewer system to be budgeted through 1965. The largest amount taken from the general obligation bonds, $8,550,000 would be used for streets, bridges and storm drainage. The remainder of the money would be divided to provide $500,000 for the continuing of airport improvements, $150,000 for new fire stations, $350,000 for the acquisition of new library sites, and $450,000 for recreation projects. CITY OF AUSTIN, TEXASJune 20, 1960 The recreation proposal covered neighborhood playgrounds and district park improvements throughout the city. Land acquisition for new playgrounds, plus other major improvements including the development of Town Lake were to be paid for funds received from the previous year's sale of Hancock's East Forty. Mr. Williams stated that the heavy allocation of proposed spending for utilities was due to the vast expansion of the three systems resulting from Austin's rapid growth. Mr. Williams then noted that the new power plant would have to be doubled in capacity in the next three or four years adding that the city's newer water treatment plant would have to be doubled and a third plant put in. He then stated that at least one new sewer treatment plant would be needed. Other extensive additions to the distributions systems would also be required. He then commented on the major street and bridge projects stating that funds from the bond proposal would be allocated to build the Missouri-Pacific Boulevard through West Austin to at least Westover Road and possibly to West 35th Street. ADJOURNMENT The Council then adjourned. ATTEST: City Clerk APPROVED: Mayor