08-09-1994 - Special
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CITY COUNCIL OF EDGEWATER
SPECIAL MEETING
AUGUST 9, 1994
7:00 P.M.
COMMUNITY CENTER
MINUTES
CALL TO ORDER:
Mayor Hayman called the special Meeting to order at 7:00 p.m. in
the Community Center.
STATEMENT OF MEETING PURPOSE BY THE MAYOR
Mayor Hayman stated the purpose of this meeting is to review
requests for proposals for the purpose of providing financial
assistance for the approved City paving program.
ROLL CALL:
Mayor Jack Hayman
Councilman Kirk Jones
Councilwoman Louise Martin
Councilman Michael Hays
Councilman David Mitchum
City Attorney Krista storey
City Manager George McMahon
City Clerk Susan Wadsworth
Police Chief Lawrence Schumaker
Present
Present
Present
Present
Present
Present
Present
Present
Present
OPENING REMARKS AND PRESENTATIONS OF FINANCIAL FIRMS
City Manager McMahon gave a presentation on the need to provide
financial assistance for the approved City paving program.
City Manager McMahon stated the total amount that this turns out
to be, in the city's opinion, is $15,375,000. He stated this is
not a final figure.
City Manager McMahon stated our engineer has yet to do the final
review on the engineering plans from DRMP.
City Engineer Kyle Fegley gave a brief explanation on the design
submitted to him from DRMP.
City Manager McMahon went on to discuss the costs associates with
this project.
First Union National Bank of Florida
A presentation was made by Corrie Bowman, First Union National
Bank of Florida located at 444 Seabreeze Blvd, Daytona Beach.
A presentation was made by Mark Galvin, First Union Capital
Markets Corp.
Mr. Bowman and Mr. Galvin answered questions presented by the
Council.
The Leedv Corporation
Presentations were made by Bill Leedy and Nancy Hughes
representing The Leedy Corporation located at 749 N. Garland
Avenue, Orlando.
Mr. Leedy answered questions and clarified some of the concerns
of Mayor Hayman.
There was a brief recess at this time.
City Manager McMahon explained what Council would need to do to
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secure the bond issue.
william R. Houqh & Co.
A presentation was made by John White representing William R.
Hough & Co. located at 100 Second Avenue South, suite 800, st.
Petersburg.
A presentation was made by Mitch Owens representing William R.
Hough & Co. located at 200 W. Forsythe Street, suite 1440,
Jacksonville.
Mr. White and Mr. Owens answered questions presented by City
Manager McMahon.
There was a discussion session between City Manager McMahon and
the Council regarding the firms that made proposals.
Councilman Mitchum made a motion to retain the services of the
William R. Hough & Co. as the Senior Financial Underwriter for
the city paving program, second by Councilman Hays. The motion
CARRIED 5-0.
Mayor Hayman congratulated Mr. White & Mr. Owens.
ADJOURNMENT
There being no further business to discuss, Councilman Hays made
a motion to adjourn, second by Councilwoman Martin. The meeting
adjourned at 9:23 p.m.
Minutes submitted by:
Lisa Kruckmeyer
Page -2-
Council Special Meeting
August 9, 1994