Council heard a presentation by Robert Tijerina Thursday to put together a refinance plan to restructure existing debt.
The city has a total of $8.2 million in bonds. Tijerina, with Estrada-Hinojosa investment bankers, gave the council several options to re-fund/refinance the outstanding obligation.
The I&S (Interest and Sinking) increased from 17 to 30 cents.
After hearing the presentation, the council decided to table the decision.
City Manager David A. Vela was introduces at the beginning of the council meeting. This was his first week as city manager and his first council meeting.
Humberto Zamora with Zamora Development Group, Inc. also presented a presentation regarding Economic Development Programs through state governments. And a third presentation by David Clary was about the use of quiet zones to reduce train horn noise.
The council also decided to table "removing the restrictions from a conditional zoning" at 1000 South Reynolds for a restaurant and bar establishment.
Other tabled items included implementing two-hour parking on Cameron Street side of the courthouse and executive session to discuss water issues between the city, Alice Water Authority and Juan Carlo Carvajal.
Item 9 and 10 passed to remove liens from the property on 1329 Washington St. and to authorize reimbursement from Appraisal District to Texas Rig Service for overpayment.