Austin's Future Power: Bonds for Energy Project
- A special meeting was held to certify the results of a recent election concerning a significant bond proposal.
- Voters approved $97 million in revenue bonds designated for extensions and improvements to the city's electric light and power system.
- A key part of the bond funding was to continue the city's financial involvement in the South Texas Project, with an eye on protecting the city's interests and future options, including potential sale of its share.
- The bond proposition passed decisively with over 14,500 votes in favor, against roughly 4,500 votes opposed.
Full Transcript
C City Council Ron Mullen Mayor John Treviño, Jr. Mayor Pro Tem Council Members Mark Rose Roger Duncan Sally Shipman Mark E. Spaeth Charles E. Urdy Jorge Carrasco City Manager Elden Aldridge City Clerk Y OF AUSTI POUNDID 1839 Austin City Council MINUTES For SPECIAL CALLED MEETING JANUARY 17, 1983 - 3:00 Ρ.Μ. Council Chambers, 307 West Second Street, Austin, Texas Memorandum To: Mayor McClellan called the meeting to order at 3:15 P.M., noting the absence of Councilmembers Mullen, Goodman, and Urdy. Mayor McClellan stated that this was a Special Called| Council Meeting for the purpose of canvassing the returns and declaring the results of the January 15, 1983 Special Muncipal Election. The Council then proceeded to canvass the returns and reported as follows: Mayor McClellan Precinct 335 - Okay Mayor McClellan Precinct 336 - Okay Councilmember Deuser Precinct 128 - Okay Mayor McClellan Precinct 338 - Okay Councilmember Deuser Precinct 133 - Okay Councilmember Duncan Precinct 129 - Okay Mayor Pro Tem Trevino Precinct 255 - Okay Mayor McClellan Precinct 138 - Okay Councilmember Deuser Precinct 134 - Okay Councilmember Duncan Precinct 130 - Okay Councilmember Deuser Precinct 135 - Okay Motion The Council, on Councilmember Duncan's Motion, Councilmember Deuser's Second, adopted a resolution canvassing returns and declaring the result of a bond election held in Austin, Texas on the 15th day of January, 1983, with the following votes cast: (4-0 Vote, Councilmembers Goodman, Mullen, and Urdy absent) Council Memo 2 January 17, 1985 PROPOSITION NUMBER 1 "THE ISSUANCE OF $97,000,000 REVENUE BONDS FOR ELECTRIC LIGHT AND POWER SYSTEM EXTENSIONS AND IMPROVEMENTS (CONTINUED FINANCING THROUGH MARCH, 1984, OF THE CITY'S PARTICIPATION IN THE SOUTH TEXAS PROJECT TO AVOID LEGAL COMPLICATIONS AND TO PROTECT THE CITY'S FINANCIAL INTEREST, INCLUDING THE RIGHT TO SELL ITS INTEREST THEREIN) FOR AGAINST TOTAL VOTES CAST ADJOURNMENT The Council adourned at 3:20 p.m. 14,514 votes 4,543 votes 19,057 votes