2002-06-03
SPECIAL JUNE TERM
HELD JUNE 3, 2002
THE STATE OF TEXAS 9
COUNTY OF CALHOUN 9
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BE IT REMEMBERED, that on this the 3rd day of June, A.D., 2002 there was begun and
holden at the Courthouse in the City of Port Lavaca, said County and State, at \0:00
A.M., a Special Term of the Commissioners' Court, within said County and State, and
there were present on this date the following members of the Court, to-wit:
Arlene N. Marshall
Roger C. Galvan
Michael J. Balajka
H. Floyd
Kenneth W. Finster
Shirley Foester
County Judge
Commissioner, Pct. I
Commissioner, Pct. 2
Commissioner, Pct. 3
Commissioner, Pct. 4
Deputy County Clerk
Thereupon the following proceedings were had:
Commissioner Galvan gave the Invocation and Commissioner Finster led the Pledge of
Allegiance.
Mark Woods, an Eagle Scout earning his Merit Badge, was present at Court.
FIRST SOUTHWEST COMPANY CONTINUING DISCLOSURE FOR ANNUAL
REPORT
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County Auditor Ben Comiskey advised the Court that a yearly report must be filed with
the Securities and Exchange Commission by June 30, 2002. This year there may be a
problem regarding the status of the mall not being used for the purpose for which the
bonds were issued. If so, taxes will have to be paid on the bonds.
Commissioner Floyd said as long as no more than 10% is for non-medical, it is
considered in compliance. Mr. Comiskey said if you feel it is in compliance, there is no
issue.
The court discussed the mall building being bought with County funds and the bond issue
being for renovation for the parking lot and also private offices with bond attorney Tom
Spurgeon ~ via telephone.
Mr. ~Ji4~g1J the original purpose of the mall was to provide an outpatient facility for
the hospital, related to a governmental unit and actually operating the hospital. The
doctors practicing medicine does not prevent them from being in the 10% calculation.
He was concerned how much of the facility is being used by non-governmental or private
business and 501(c) 3 activity.
The YMCA is a 501(c) 3 and would be acceptable. A post issuance compliance by
Commissioners' Court maybe needed. He was concerned with the doctor's offices, as
they are not infrastructure. He asked if there was an accounting showing how bond funds
were spent.
SRurgeon
Mr. ~needs details of the use of the facility and information regarding use of the
proceeds. He mentioned the County funding a part of the debt service and asked the
status of the facility regarding debt.
SRrugeon
Commissioner Floyd will send information to Fause Bauerman in Dallas, Tom XJlIIXHlX
and a copy to the Court. Mr. ~will get back with the Court in a few days.
Sprugeon
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