City of Richland Springs Minutes of Special City Council Meeting on. June 2nd, 2022 Meeting: To sign and notarize all documents associated with the ordinance authorizing Council Members: Aaron Bessett, Franky Soto, Frank Pearce, Larry Crump, and. Jessica  certificates of obligation for the USDA water project Council Attendees: Mayor. Johnie Reeves  Scales  Called to Order: 7:00PM Note Taker:. Jessica Scales  City officials present: Mayor, Johnie Reeves; Mayor Protem, Frank Pearce; Treasurer, Franky Soto; Secretary, Jessica Scales; Larry Crump; Aaron Bessett; City Water Manager,  Chris Perry. Absent: Franky Soto 7:00pm  Guests present: bondsman Gregory Miller, notary Michelle Bryant  Discussed ordinance, authorizing the sale of bond, discussed the terms oft the bond, payment plans, interest rates, loan amounts.Contains our representation that we plan to! keep bonds tax exempt and do yearly audits as well. Our interest rate can only go down, ifi it ever changes. It CANNOT go up. After approval we would wait for USDA to give us closing date, then docs are sent to Attorney General, where they are approved 'Motion authorizing the issuance of $1,418,000 to "City of Richland Springs, Texas combination tax and revenue certificates of obligation, taxable series 2022", authorizing the sale therof; enacting provisions incident and related to thei issuance of said Motion to approve ordinance made by Aaron Bessett, 2nd by Larry Crump, passed by Michelle notarized 13 unique copies of documents but overall 60+ copies of those Total yearly payment comes to around $58,000 in interest and principle combined, to be paid separately, interest in. June, principle in December. Principle schedule will be seti in 7:44pm No further discussions at this time. Motion to adjourn meeting made by Aaron  and the money to pay for our project is transferred appropriately.  certificates." unanimous vote. documents.  bond order once fully approved.  Bessett, 2nd by Larry Crump, passed by unanimous vote.  Sd  4rlahe  Magoc  SecretArey