MINUTES OF A CALLED SESSION

OF THE COUNCIL OF THE TOWN OF EAGLEVILLE , TENNESSEE           

July 14, 2005  

The City Council of the Town of Eagleville , Rutherford County, Tennessee, met in a called session at 7:00 p.m. on July 14, 2005 , in Eagleville City Hall with MayorNolan S. Barham, Sr., presiding.  

COUNCIL MEMBERS PRESENT

Mayor Nolan S. Barham, Sr.                            Vice-Mayor Ronnie Hill

Councilman Harold Vincion                              Councilwoman Debbie Ryan

Councilman Terry Zumbro                                Councilman David Rigsby

Councilman M. A. Smitty

STAFF

Everett Stone, Police Chief                               Michelle Bennett, City Recorder          

GUESTS

Ralph Cross, MTAS  

CALL TO ORDER

The meeting was Called to Order by Mayor Nolan Barham.   

ROLL CALL

            A roll call was administered by City Recorder Michelle Bennett.  All members were present.   

INVOCATION

Councilman Vincion delivered the Invocation.     

PLEDGE OF ALLEGIANCE

Ralph Cross led the Pledge of Allegiance to the flag.  

MAYOR'S WELCOME

Mayor Barham welcomed everyone to the City Council meeting.  

CITIZEN’S INPUT

            None.  

BUSINESS ITEM - To consider the authorization of the incurrence of indebtedness in the amount of $350,000.⁰⁰ for the purpose of financing capital improvement projects.

            Mayor Barham addressed the Council regarding the reason for the called meeting.  Councilman Terry Zumbro moved to accept Resolution R-05-02 authorizing the issuance of interest bearing general obligation capital outlay notes, series 2005, in an amount not to exceed $350,000.00, and providing for the payment of said notes, with Councilman David Rigsby seconding the motion.  Mayor Barham asked Mr. Ralph Cross, Finance and Accounting Consultant with MTAS, to make an overview of the resolution.  It was pointed out that from the $500, 000 Eagleville , Tennessee Water and Sewer Revenue and Tax Bonds, Series 1988, page 10, that for early payoff there had to be an advertisement in a financial newspaper in New York , NY , which would notify the registered buyers.  After all Council Members had time to read the documents (attached as part of the July 14, 2005 minutes) and following a brief discussion, a roll call vote was administered by Michelle Bennett and the motion passed 5-1, with Councilman Smitty voting no.  

ADJOURNMENT

With no further business to discuss, Councilman David Rigsby made the motion to adjourn and Councilman Terry Zumbro seconded.  By unanimous vote, the meeting was adjourned at 7:21 p.m.   

______________________                                                       ______________________

Dr. Nolan S. Barham, Sr.,                                                                    Michelle Bennett

Mayor                                                                                                  City Recorder