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Minutes
Adjourned
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The Metropolitan Council met in adjourned session on this date at 5:30 p.m. in the Metropolitan Courthouse.
The invocation was offered by Councilmember Phil Ponder.
The Metropolitan Council gave the pledge of allegiance to the American Flag.
The roll was called and the following members were present during the progress of the meeting: Ferrell, Waters, Briley, Gentry, Tucker, Gilmore, Black, Majors, Hall, Beehan, Campbell, Hart, Dillard, Balthrop, Brown, Ponder, Derryberry, Stanley, Loring, McClendon, Greer, Hausser, Wallace, Whitmore, Bogen, Summers, Shulman, Arriola, Sontany, Kerstetter, Jenkins, Turner, Williams, Lineweaver, and President Steine (35); Absent: Nollner, Haddox, Hand, Alexander, Holloway, Knoch (6).
BOND SALE
The Clerk reported that the following bids were received on this date for The Metropolitan Government of Nashville and Davidson County's $31,600,000 General Obligation Energy Production Facility Refunding Bonds, Series 2002A:
SERIES
2002A BONDS
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NAME OF BIDDER | TRUE INTEREST RATE |
Morgan Keegan & Company, Inc. | 4.115378% |
Banc of America Securities, LLC | 4.129158 |
ABN AMRO Financial Services | 4.133633 |
Salomon Smith Barney, Inc. | 4.139290 |
Morgan Stanley, Dean Witter | 4.161394 |
Legg Mason Wood Walker, Inc. | 4.161759 |
Stephens Inc. | 4.175528 |
A report on the bids received on The Metropolitan Government of Nashville and Davidson County's $31,600,000 General Obligation Energy Production Facility Refunding Bonds, Series 2002A, recommended acceptance of the bid of Morgan Keegan & Company, Inc. at 4.115378%.
The Clerk reported that the following bids were received on this date for The Metropolitan Government of Nashville and Davidson County's $27,240,000 General Obligation Energy Production Facility Refunding Bonds, Series 2002B:
SERIES
2002B BONDS
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NAME OF BIDDER | TRUE INTEREST RATE |
Morgan Stanley, Dean Witter | 5.028360% |
RBC Dain Rauscher Inc. | 5.053171 |
Salomon Smith Barney, Inc. | 5.056556 |
Griffin, Kubik, Stephens & Thompson | 5.058703 |
First Albany Corp. | 5.058869 |
Morgan Keegan & Company, Inc. | 5.059913 |
Lehman Brothers | 5.063271 |
J. P. Morgan Securities, Inc. | 5.081894 |
Raymond James & Associates, Inc. | 5.146660 |
UBS PaineWebber Inc. | 5.177125 |
BB&T Capital Markets | 5.179837 |
Wells Fargo Brokerage | 5.202248 |
NBC Capital Markets Group, Inc. | 5.203213 |
Stephens Inc. | 5.332456 |
A report on the bids received on The Metropolitan Government of Nashville and Davidson County's $27,240,000 General Obligation Energy Production Facility Refunding Bonds, Series 2002B, recommended acceptance of the bid of Morgan Stanley, Dean Witter at 5.028360%.
- RESOLUTION-
RESOLUTION NO. RS2002-1009
A resolution supplementing and amending resolution No. RS2002-995 of The Metropolitan Government of Nashville and Davidson County and awarding the sale of $31,600,000 General Obligation Energy Production Facility Refunding Bonds, Series 2002A and $27,240,000 General Obligation Energy Production Facility Refunding Bonds, Series 2002B (Federally Taxable). Mr. Shulman offered a substitute resolution and moved that it be accepted for filing and no objection was made.
SUBSTITUTE RESOLUTION NO. RS2002-1009
A substitute resolution supplementing and amending resolution No. RS2002-995 of The Metropolitan Government of Nashville and Davidson County and awarding the sale of $31,600,000 General Obligation Energy Production Facility Refunding Bonds, Series 2002A and $27,240,000 General Obligation Energy Production Facility Refunding Bonds, Series 2002B (Federally Taxable). The substitute resolution was approved by the Budget and Finance Committee. Mr. Shulman moved to adopt the substitute resolution, which motion was seconded and adopted by the following vote: "Ayes" Ferrell, Waters, Briley, Gentry, Tucker, Gilmore, Black, Majors, Hall, Beehan, Campbell, Hart, Dillard, Balthrop, Brown, Ponder, Derryberry, Stanley, Loring, McClendon, Greer, Hausser, Wallace, Whitmore, Bogen, Summers, Shulman, Arriola, Sontany, Kerstetter, Jenkins, Turner, Williams, Lineweaver (34); "Noes" (0).
- BILLS ON THIRD READING -
An ordinance to amend the Official Street and Alley Acceptance and Maintenance Map for The Metropolitan Government of Nashville and Davidson County, by closing an unbuilt portion of Michigan Avenue (Proposal No. 2002M-017U-08). The bill was approved by the Planning Commission, Traffic and Parking Commission, Public Works, Traffic and Parking and Planning, Zoning and Historical Committees. Mr. Whitmore moved to pass the bill on third reading, which motion was seconded and adopted by the following vote: "Ayes" Ferrell, Waters, Briley, Gentry, Tucker, Gilmore, Black, Majors, Hall, Beehan, Hart, Dillard, Balthrop, Brown, Ponder, Derryberry, Stanley, Loring, McClendon, Greer, Hausser, Wallace, Whitmore, Bogen, Summers, Shulman, Arriola, Sontany, Kerstetter, Jenkins, Turner, Williams, Lineweaver (33); "Noes" (0).
An ordinance readopting the Code of The Metropolitan Government of Nashville and Davidson County, Tennessee, prepared by Book Publishing Company, including supplemental and replacement pages thereof, containing certain ordinances of a general and permanent nature enacted on or before November 28, 2001. The bill was approved by the Rules-Confirmations-Public Elections Committee. Ms. Williams moved to pass the bill on third reading, which motion was seconded and adopted by the following vote: "Ayes" Ferrell, Waters, Briley, Gentry, Tucker, Gilmore, Black, Majors, Hall, Beehan, Hart, Dillard, Balthrop, Brown, Ponder, Derryberry, Stanley, Loring, McClendon, Greer, Hausser, Wallace, Whitmore, Bogen, Summers, Shulman, Arriola, Sontany, Kerstetter, Jenkins, Turner, Williams, Lineweaver (33); "Noes" (0).
An ordinance approving a grant from the State of Tennessee, Department of Transportation to The Metropolitan Government of Nashville and Davidson County, acting through the Metropolitan Police Department, for the Governor's Highway Safety Program. The bill was approved by the Budget and Finance and Public Safety-Beer, Wine and Whiskey Committees. Mr. Shulman moved to pass the bill on third reading, which motion was seconded and adopted by the following vote: "Ayes" Ferrell, Waters, Briley, Gentry, Tucker, Gilmore, Black, Majors, Hall, Beehan, Hart, Dillard, Balthrop, Brown, Ponder, Derryberry, Stanley, Loring, McClendon, Greer, Hausser, Wallace, Whitmore, Bogen, Summers, Shulman, Arriola, Sontany, Kerstetter, Jenkins, Turner, Williams, Lineweaver (33); "Noes" (0).
An ordinance accepting a grant from the State of Tennessee, Department of Military, Tennessee Emergency Management Agency to The Metropolitan Government of Nashville and Davidson County for the provision of pass-through funding to subsidize emergency management. The bill was approved by the Budget and Finance and Public Safety-Beer, Wine and Whiskey Committees. Mr. Shulman moved to pass the bill on third reading, which motion was seconded and adopted by the following vote: "Ayes" Ferrell, Waters, Briley, Gentry, Tucker, Gilmore, Black, Majors, Hall, Beehan, Hart, Dillard, Balthrop, Brown, Ponder, Derryberry, Stanley, Loring, McClendon, Greer, Hausser, Wallace, Whitmore, Bogen, Summers, Shulman, Arriola, Sontany, Kerstetter, Jenkins, Turner, Williams, Lineweaver (33); "Noes" (0).
An ordinance approving a grant to The Metropolitan Government of Nashville and Davidson County, acting by and through the Davidson County Sheriff's Office, from the State of Tennessee, Department of Transportation, in an amount not to exceed $196,021.00 for the 2001-2002 Litter Grant Program. The bill was approved by the Budget and Finance and Public Safety-Beer, Wine and Whiskey Committees. Mr. Shulman moved to pass the bill on third reading, which motion was seconded and adopted by the following vote: "Ayes" Ferrell, Waters, Briley, Gentry, Tucker, Gilmore, Black, Majors, Hall, Beehan, Hart, Dillard, Balthrop, Brown, Ponder, Derryberry, Stanley, Loring, McClendon, Greer, Hausser, Wallace, Whitmore, Bogen, Summers, Shulman, Arriola, Sontany, Kerstetter, Jenkins, Turner, Williams, Lineweaver (33); "Noes" (0).
An ordinance accepting the donation of a 1983 Mack Box Van Truck to the Metropolitan Government for the benefit of the Drug Court program from RTR Transportation Company. The bill was approved by the Budget and Finance Committee. Mr. Waters moved to pass the bill on third reading, which motion was seconded and adopted by the following vote: "Ayes" Ferrell, Waters, Briley, Gentry, Tucker, Gilmore, Black, Majors, Hall, Beehan, Hart, Dillard, Balthrop, Brown, Ponder, Derryberry, Stanley, Loring, McClendon, Greer, Hausser, Wallace, Whitmore, Bogen, Summers, Shulman, Arriola, Sontany, Kerstetter, Jenkins, Turner, Williams, Lineweaver (33); "Noes" (0).
Upon motion duly seconded, the meeting was adjourned to Thursday, May 9, 2002, at 7:00 p.m.