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Ms. Watson said if you use the Reserve you lose the investment income but that <br />amount would be low. A bond issue has additional costs to issue the bonds and the <br />interest paid on them over a period of time. Taken together those costs would be <br />more than what would be lost in investment income. <br /> <br />Mr. Crow said he was trying to figure out how many votes this Council has taken <br />since the price went from $200,000 to almost a million dollars. He said the important <br />vote would be the one taken on $1.2 million. <br /> <br />L. COUNCIL REPORTS AND DISCUSSION <br />1. <br />Council Liaison reports on Boards and Commissions <br />Mayor Weslch reminded everyone of the I-170/Olive Joint Redevelopment Task <br />Force with the City of Olivette. The public meeting where the task force’s final report <br />will be released will be on Monday October 17 at 7:00 pm in the Centennial <br />Commons. <br /> <br />Mayor Welsch reminded residents of the Mayor’s Task Force on Seniors and Youth <br />are asking that more seniors and youth to fill out the surveys found on the City’s <br />web-site. If you cannot obtain a copy of the surveys, please contact the Mayor at <br />314-505-8606. <br /> <br />Mr. Sharpe reminded all residents that the school district cordially invited everyone to <br />attend Pershing Elementary School Topping-Out Ceremony on Tuesday, October 11 <br />at 2:00 pm at Pershing Elementary site. <br /> <br />M. UNFINISHED BUSINESS <br /> <br />BILLS <br />1. BIILL 9136 <br /> – An ordinance authorizing the City of University City, Missouri, to amend <br />the trust indenture pursuant to which its Industrial Development revenue bonds <br />(Winco Redevelopment Corporation, Inc. project) series 2003 in the original principal <br />amount of $5,800,000 were issued; and authorizing certain other actions in <br />connection therewith <br /> <br />Mr. Sharpe moved to approve Bill 9136 and was seconded by Mr. Crow. <br /> <br />Roll Call vote was: <br />AYES: Mr. Price, Mr. Kraft, Mr. Crow, Mr. Glickert, Mr. Sharpe and Mayor Welsch. <br />NAYS: none <br /> <br />Bill 9136 passed and became ordinance 6872. <br /> <br />2. BILL 9137 - <br />An ordinance amending Chapter 1.08 of the University City Municipal <br />Code, relating to corporate boundaries and ward boundaries, by repealing Section <br />1.08.020 thereof, relating to wards, and enacting in lieu thereof a new section to be <br />known as “Section 1.08.020 wards”, thereby amending said section so as to change <br />the boundaries of the City’s three wards <br /> <br />Mr. Price moved to approve Bill 9137 as amended and was seconded by Mr. Sharpe. <br /> <br /> 7 <br /> <br /> <br />