Jul 21, 2025 City Council

IT'S OKAY.

WE DID RIGHT.

[00:00:01]

WE HAVE SIX 30 ON JUST ABOUT EVERY CLOCK IN THE ROOM.

THAT'S UNUSUAL.

ALRIGHT.

UH, WELCOME TO EVERYONE TO THE MAIN JU MAY, UH, MONDAY, JULY 21ST, 2025, REGULAR SESSION OF THE LAKE JACKSON CITY COUNCIL.

UH, BEGINNING AT 6:30 PM THIS EVENING AT 25 OAK DRIVE, LAKE JACKSON, TEXAS.

UH, WE BEGAN

[PLEDGE OF ALLEGIANCE]

JUSTICE FOR ALL.

HONOR YOU TEXAS.

BE TEXAS, ONE STATE, STATE UNDER GOD, ONE.

AND INVOCATION THIS EVENING WILL BE GIVEN BY COUNCILMAN ELL.

LET US PRAY YOUR HEAVEN.

ME.

FATHER, WE THANK YOU FOR ANOTHER OPPORTUNITY FOR MEET THIS EVENING.

AND AS OUR MEETING CONTINUES AND DECISIONS HAVE TO BE MADE, WE ASK FOR THE STRENGTH.

WE AS ENCOURAGE TO MAKE A DECISION THAT WE FEEL ARE IN THE BEST INTEREST OF OUR RESIDENCES ABOUT OUR CITY.

PLEASE BE WITH OUR E AND T FIRE AND POLICE PERSONNEL.

PLEASE BE WITH OUR MEN AND WOMEN ALSO OF OUR ARMED FORCES, STATESIDE AND ABROAD.

AND YES, WE PRAY.

AMEN.

AMEN.

ALRIGHT, THANK YOU VERY MUCH.

YES, SIR.

UH, NEXT

[PRESENTATIONS]

UH, THIS IS A PRESENTATION RECOGNIZED LAKE JACKSON POLICE DEPARTMENT, OFFICE OFFICER SMEAR CHECK.

AND I'M SORRY IF I MESS UP ANYBODY'S NAME.

UH, SERGEANT MES, OFFICER FREES AND DISPATCHER BAKER.

THAT'S MY WIFE'S MAIDEN NAME.

FAMILY NAMES.

THAT'S EASY.

THAT'S A GOOD NAME.

THAT'S AN EASY NAME.

YEAH, THAT'S TRUE.

GOOD NAME.

UH, FOR AN INCIDENT OCCURRING ON JUNE 27TH, 2025.

THIS IS, UH, POLICE CHIEF, UH, AND, UH, RHONDA, SETH COUNCILWOMAN.

SETH IS GOING TO TALK ABOUT THIS.

ALRIGHT.

JUST SO YOU KNOW, UH, PRI IS, FIRST NAME IS NOT PPO, IT'S MAURICIO.

MAURICIO.

HE'S BEEN WITH US JUST A SHORT WHILE GOT HIM OUT THE ACADEMY.

HE, HE WAS A TRAINING ACTOR WHEN THIS HAPPENED, UH, WITH SERGEANT, UH, CODY MES, WHO'S PROBABLY BEEN WITH US SIX, SEVEN YEARS.

OH YEAH.

OFFICER ON THE CALL.

UH, HE'S BEEN WITH US A COUPLE YEARS.

UH, BRIDGET, SHE'S BEEN WORKING ON HER SKILLS FOR I THE LAST 30 .

SO SHE'S BEEN, UM, YOU KNOW, THESE CALLS ARE DIFFICULT OBVIOUSLY, WHEN YOU DEAL WITH MENTAL, UH, CRISIS.

AND SO, AND IT REQUIRES A LOT OF KNOWLEDGE IN THE, I THINK IN THIS CALL, UH, WHAT'S BEEN TOLD TO ME AND HOW THEY, UH, HOW THEY PERFORM.

THIS IS ALMOST A DAILY OCCURRENCE AND THEY DO A GREAT JOB.

WE'RE ONE OF THE BEST, UH, LAW ENFORCEMENT AGENCIES AROUND.

WE HAVE SOME OF THE PEOPLE AND THEY'RE GOOD HUMANS AND THEY DO A GREAT JOB.

VERY PROUD OF THEM.

UH, AND I'M HONORED TO HAVE THE OPPORTUNITY, UH, TO COMMEND THEM IN FRONT OF YOU.

UM, SO I APPRECIATE THAT YOU BROUGHT THIS FORWARD.

I HEAR ABOUT A LOT AND THINGS DON'T GO WELL, WHICH IS FINE.

WE'LL WORK ON WHAT WE TO WORK ON.

UH, BUT THEY DO A GREAT JOB THERE AND THERE.

SO THE PAT ON THE BACK IS WELCOME.

THANK YOU.

SO I'VE BEEN ON, YEAH, SO IN MY FIVE YEARS ON COUNCIL, YEAH, ON MY FIVE YEARS ON COUNCIL, I'VE NEVER DONE THIS.

I'VE NEVER BROUGHT ANYTHING FORWARD LIKE THIS.

SO, UH, THIS WAS SOMETHING THAT REALLY STUCK TO ME.

BUT, UH, JUST TO GIVE YOU BEAR WITH MY STORYTELLING HERE, MY HOUSE TO GO TO MY FRONT DOOR IS SPLIT LEVEL.

SO YOU IMMEDIATELY HAVE TO GO UP SOME STAIRS TO GET TO THE FRONT DOOR, AND THEN WHEN YOU GO INSIDE, YOU IMMEDIATELY GO UPSTAIRS OR DOWNSTAIRS.

SO IT'S A SPLIT LEVEL HOUSE.

SO ON FRIDAY NIGHT, JUNE 27TH, MY BOYS AND I WERE GOING TO GO MEET MY HUSBAND FOR DINNER.

AND, UH, THE BOYS WERE DOING WHAT BOYS DO AND RACE INTO THE FRONT DOOR.

AND, UM, I HAPPENED TO BE AT THE TOP OF THE STEPS AND I SEE MY OLDEST SON SNATCHED MY YOUNGEST SON BY THE BACK AND PULL HIM BACK IN AND HE SAID, MOM, SOMEBODY NEEDS TO TALK TO YOU.

SO I GO DOWNSTAIRS AND THERE'S THIS, A VERY LARGE MAN SITTING ON MY PORCH ASKING HIM TO COME IN MY HOUSE.

AND, UH, I SAID, NO, .

AND, UH, SO HE STARTED ASKING ME SOME OTHER QUESTIONS, AND IT JUST TOOK A MINUTE OR SO FOR ME TO DETERMINE THIS WAS A YOUNG PERSON.

HE WAS IN A MENTAL HEALTH CRISIS.

UM, AND THEN I LOOKED DOWN AND

[00:05:01]

SO, YOU KNOW, THAT CHANGES, CHANGES THE GAME A LITTLE BIT.

SO, UM, I ASKED HIM, I SAID, WHAT'S THE KNIFE FOR? AND HE SAID, FOR MY MOM.

AND I SAID, WELL, GIVE IT TO ME.

AND SURPRISINGLY HE DID.

UM, AND I SAID, WELL, HERE'S WHAT WE'RE GONNA DO.

I SAID, WELL, YOU'RE NOT IN TROUBLE.

I SAID, LET'S CALL LAKE JACKSON PD AND SEE IF THEY CAN HELP US GET YOU SOME HELP AND SORT THIS OUT.

AND SO I STEPPED BACK IN THE HOUSE AND I CALLED 9 1 1 AND I THINK I KNEW TO GIVE HER MY NAME AND MY ADDRESS.

UM, BUT FIRST I WANNA TALK ABOUT DIS OUR DISPATCHERS WHO ARE TRULY THE UNSUNG HEROES OF OUR ENTIRE EMERGENCY RESPONSE SYSTEM.

FIRE, EMS, AS WELL AS MEDICAL.

UM, SHE WAS SO CLEAR, SO CALM, SHE KNEW TO ELICIT PARTICULAR INFORMATION FROM ME.

UM, AND JUST, I REALLY APPRECIATED HOW CALM YOU WERE.

SHE MADE ME THINK ABOUT THINGS I HADN'T THOUGHT ABOUT IN THAT, IN THAT MOMENT.

IT WAS A LITTLE NERVE WRACKING.

SHE WAS REASSURING.

SHE SAID, OFFICERS WILL BE THERE SHORTLY.

SO YOU WANNA TALK ABOUT FAST THINKERS AND TRIAGE ON THE FLY.

IT'S, IT'S THESE PEOPLE RIGHT HERE.

UH, SO THANK YOU FOR THAT.

SO FAST FORWARD JUST A FEW MINUTES AND I'M TALKING TO THIS KID A LITTLE BIT AND I ACTUALLY, I, AND I THINK I DID CONVEY TO HER THAT HE HAS NOT BEEN AGGRESSIVE WITH ME.

UM, SO AT THAT POINT, OFFICER SER AND SERGEANT MEERS SHOWED UP.

AND FROM THE VERY FIRST MOMENT I'VE BEEN AT YOUR NURSE FOR 15 YEARS, I'VE DEALT WITH QUITE A FEW MENTAL HEALTH SCENARIOS.

UM, THE WAY THAT THEY HANDLED THIS PERSON WAS TRULY FLAWLESS.

UM, OFFICER ER TOOK, TOOK CARE OF BUSINESS FIRST, CHECKED THE GUY.

ANY OTHER WEAPONS, UH, I GAVE HIM THE WEAPON THAT I HAD TAKEN.

HE SECURED IT.

UM, UH, SERGEANT MES STAYED ABOUT HALFWAY DOWN MY DRIVEWAY.

I WAS ASSUMING TO KIND OF WATCH THE SCENE AND, UM, KIND OF WATCHED HIS BACK.

AND JUST THE WAY THAT YOU SPOKE TO THIS YOUNG MAN THAT WAS CLEARLY HAVING A PROBLEM, UM, WAS JUST FLAWLESS, IS THE BEST THING I CAN SAY.

I KNOW WHAT QUESTIONS YOU SHOULD BE ASKING, AND YOU ASKED EVERY ONE OF THEM.

I MEAN, IT WAS A MATTER OF MINUTES.

WE GOT A VERY GOOD, CLEAR PICTURE OF THIS PERSON'S HOME LIFE.

UH, HIS CHALLENGES, THE PROBLEMS, THE MEDICATIONS.

I MEAN, HE ASKED ALL THE QUESTIONS.

UM, AND AFTER A FEW MINUTES, ANOTHER PATROL CAR PULLS UP AND THAT'S WHEN OUR, UH, OFFICER FRY FRY SAID THERE WAS ANOTHER OFFICER WITH YOU.

AND I'M THINKING, OH, OVERKILL.

AND I CAN SEE THE PANIC ON THIS KID'S FACE.

AND THAT'S WHEN SERGEANT MEERS COMES UP AND HE TELLS THE KID, HE'S LIKE, YOU'RE NOT IN TROUBLE.

WE HAVE AN OFFICER IN TROUBLE.

AND JUST COMMUNICATED VERY CLEARLY TO HIM THAT YOU'RE, YOU KNOW, DON'T BE ALARMED THAT THERE'S MORE OFFICERS HERE.

UM, AND THE KID RELAXED.

ANYWAYS, LONG STORY SHORT, THE PERSON WAS ABLE TO GET SOME HELP THAT HE NEEDED.

AND OUR OFFICERS JUST, YOU ARE KIND, YOU ARE COMPASSIONATE.

UM, WE DON'T HAVE A LOT OF MENTAL HEALTH RESOURCES.

WE'VE RECENTLY HAD A DISCUSSION ABOUT THAT.

AND THE FACT THAT YOU GUYS CAN SHOW UP, YOU HAVE NO IDEA WHAT'S GOING ON.

YOU DON'T KNOW WHAT YOU'RE WALKING INTO, WHO YOU'RE TALKING TO OR ANYTHING, AND HANDLE SITUATION LIKE THAT.

AND IT WAS SUCH A GOOD OUTCOME BECAUSE OF THE WAY THAT OUR OFFICERS HANDLED IT.

AND SO I JUST WANNA APPRECIATE, UM, IT WASN'T UNTIL AFTERWARDS MY MOM SELF STARTED THINKING ABOUT HOW MANY WAYS THAT COULD HAVE GONE VERY BADLY.

UH, AND EVEN WHEN YOU GUYS GOT THERE, AND I WILL TELL YOU AS WELL THAT I HAVEN'T COMMUNICATED THIS, UM, THE FAMILY MEMBER OF THAT PERSON ACTUALLY CAME TO ME A COUPLE OF DAYS LATER AND THANKED EVERYONE FOR HOW THEY HANDLED IT.

UH, THEY WERE AWARE HOW THAT COULD HAVE GONE MUCH DIFFERENTLY AS WELL.

UM, JUST TRULY EXCEPTIONAL WORK FROM THE FIRST PHONE CALL TO THE LAST.

SO THANK YOU FOR EVERYTHING THAT YOU GUYS DO.

YOU DID GREAT JOB.

ANYTHING ELSE? ANYTHING YOU WANNA SAY? THANK YOU.

SORRY FOR THE LONG STORY .

SO, UH, YOUR ABILITY TO INTERACT WITH THE INDIVIDUAL.

DID YOU LEARN THAT IN ACADEMY OR JUST THROUGH, SINCE YOU'VE BEEN OUT, OUT OF THE ACADEMY OR IT'S JUST A PICTURE OF LIFE EXPERIENCES? THE ACADEMY IS JUST LEARNING THROUGHOUT THE STREETS.

UNDERSTAND DIFFERENT PEOPLE, HOW THEY ACT, HOW IT'S JUST ADAPT.

ADAPT.

THAT'S GOOD.

I'D JUST LIKE TO ADD TO WHAT THE CHIEF AND MS. SMITH OR RHONDA SMITH SAID

[00:10:01]

SO WE REALLY APPRECIATE IT AND THANK YOU FOR ALL OF WHAT YOU DO FOR CITIZENS AT LAKE JACKSON.

YEAH.

AND IT'S A DIFFERENT SKILLSET TO BE ABLE TO HANDLE SOMEBODY IN AN, AN ACTIVE AND UNMEDICATED MENTAL HEALTH CRISIS.

AND Y'ALL JUST DID AN OUTSTANDING JOB.

AND I WANNA SAY THANK YOU TO THIS GREAT FINE POLICE DEPARTMENT BECAUSE I USED TO BE A PART OF IT.

AND, UH, AND I STOOD IN Y'ALLS SHOES RIGHT NEXT TO YOUR CHIEF.

WE WAS ON THE STREETS TOGETHER.

BUT, UH, I'M VERY PROUD OF WHAT Y'ALL DOING AND KEEPING THE, UH, TREND GOING AS A, AS US BEING THE NUMBER ONE DEPARTMENT AROUND.

SO KEEP UP THE GOOD WORK.

AND BRIDGET, WE'VE BEEN AROUND A LONG TIME.

WELL, ABSOLUTELY.

GREAT JOB.

Y'ALL GO GET SOME DINNER.

YEAH, WITH THAT, WE'RE GONNA STAND AND APPLAUD YOU GUYS.

SO WE'LL FINISH.

WE DO HAVE THE, UH, FINANCE REPORT THOUGH.

IF Y'ALL DON'T HAVE ANYTHING ELSE TO DO, IT'S VERY INTERESTING.

.

ALL RIGHT.

NEXT ITEM IS VISITOR'S COMMENTS.

UH, WE DON'T HAVE ANYBODY THAT SIGNED UP FOR VISITOR COMMENTS.

UH, SO WE'LL MOVE ON FORWARD.

UH, WE HAVE NEXT ITEM IS DECLARATION OF CONFLICT OF INTEREST.

THIS IS AN OPPORTUNITY FOR ANY MEMBER OF CITY COUNCIL.

DECLARE IF THEY HAVE A CONFLICT OF INTEREST ON ANY ITEM ON THE CONSENT OR REGULAR AGENDA.

DOES ANYONE HAVE A CONFLICT THEY NEED TO DECLARE, NOT HEARING ANY.

WE'LL

[CONSENT AGENDA]

WE HAVE CONSENT, UH, CONSENT AGENDA, UH, PRESENTED TO YOU.

WE HAVE FIVE ITEMS. IS THERE ANY ITEM THAT ANY MEMBER ON CITY COUNCIL WOULD LIKE TO MOVE FOR FURTHER DISCUSSION? IF NOT, I'LL TAKE A MOTION ON THE AGENDA AS PRESENTED.

MOVE FOR APPROVE OR CONSENT AGENDA ONE THROUGH FIVE.

ALRIGHT, WE HAVE A MOTION BY COUNCILMAN BUELL.

SECOND.

COUNCILMAN SECOND BY COUNCILMAN BAKER.

ALL IN FAVOR SAY AYE.

AYE.

ANY OPPOSED? THANK YOU.

[1. Discuss and consider the approval of Ordinance No. 2303 authorizing the issuance of “City of Lake Jackson, Texas Limited Tax Bonds, Series 2025”; entering into a paying agent/registrar agreement; and approving all other matters related thereto. First and Final reading – Joe Morrow/Dan Martinez]

MOVE ON TO REGULAR AGENDA DISCUSSING CONSIDER APPROVAL OF ORDINANCE NUMBER 2 3 0 3 AUTHORIZING THE ISSUANCE OF CITY LAKE JACKSON, UH, TEXAS LIMITED TAX BOND SERIES 2025, UH, ENTERING INTO A PAYING AGREEMENT REGISTRAR AGREEMENT AND APPROVING ALL OTHER MATTERS RELATED THERE TO FIRST AND FINAL READINGS.

AND DO WE, SO SINCE THIS IS THE FIRST AND FINAL, DO WE NEED TO DO A SUSPENSION OR NOT? MM-HMM .

OF COURSE.

ALRIGHT, SO, UM, YOU WANNA DO THE RESOLUTION OR WE WANT ME TO DO THIS? JOE, DO YOU WANT TO SPEAK ON IT FIRST OR YOU WANT ME TO READ THE, WHY DON'T YOU SPEAK ON IT FIRST, THEN WE'LL DO THE BUSINESS.

OKAY.

ANY VIDEO MEETING MAYOR, MEMBERS OF COUNCIL, JOE MORROW SECURITIES.

UM, WE DID GET INTO THE MARKETS AND SELL BONDS, UH, THIS MORNING UP TO THAT WE DID A ENCOURAGE YOU TO MAINTAIN THE RATINGS THAT WE HAVE, WHICH FOR THE GENERAL OBLIGATION BONDS IS AAA.

TALK TO ABOUT THAT EVERY TIME THAT WE HAVE A MEETING AND, YOU KNOW, THEY'RE LIKE, HOLD ON GUYS.

YOU'RE, YOU'RE KIND OF AT THE TOP OF YOUR CLASS RIGHT NOW.

IT'S NOT QUESTION, BUT, UH, THERE'S A FEW THINGS THAT THEY WOULD, LIKE, VERY FEW CITIES THAT HAVE, UH, A CONCENTRATION IN INDUSTRY LIKE YOU.

UM, IT'S, IT'S ONE OF THOSE THINGS THAT IT'S HARD TO MOVE THE NEEDLE HIGHER.

THEY'RE JUST GETTING WITH ABOUT CONCENTRATION LEVELS IN THE

[00:15:01]

UM, SO LEMME GET INTO THE GENERAL OBLIGATION WE THIS MORNING.

THE FIRST THING I'LL ADDRESS IS KIND OF OUR MARKET AND CONDITIONS.

UH, YOU CAN SEE RATES, UH, HAVE GONE UP.

AND THIS IS THE BOND BUYER INDEX.

IT'S A 20 YEAR HISTORY.

WE DATA POINTS THAT COME OUT EVERY THURSDAY.

WE GET A DATA POINT, GETS TAKEN BY A CONSENSUS OF A NUMBER OF BOND YEARS USING SPECIFIC THAT TRADED, UH, IN THE MARKET ON A FREQUENT BASIS.

CHANGE THEM PERIODICALLY.

THEY, SO THAT WE COULD HAVE SOME CONSISTENCY.

NOW WE ONLY USE THIS AS AN INDICATION FOR US IN THE INDUSTRY.

KNOW WHERE MARKET RATES GO.

WE HAVE UP TREND DOWN TREND, RIGHT? AND YOU CAN SEE HERE, WE'VE GOT ABOUT FOUR, FIVE WEEKS HERE THAT WE'VE BEEN GOING, YOU SOMEWHAT SIDEWAYS.

BUT THAT BIG SPIKE UP ON THE RIGHT HAND OF THE PAGE, THAT'S THE TARIFFS, RIGHT? WE FIRST HAD THE TARIFF TOP RATES AND MARKETS, EQUITY MARKETS KIND OF STARTED MOVING AROUND.

UM, WE'VE GOT STABILITY IN THE MARKETPLACE.

YOU'LL SEE THAT, UH, THEIR LITTLE BASKET RATE DOESN'T REFLECT, UH, ANYTHING ABOUT THE RATES THAT WE GOT PERCENT.

BUT, UH, AGAIN, THIS IS JUST WHAT WE USE VERY SIMILAR TO S AND P 505 30.

THAT JUST IS A REPRESENTATION OF WHAT'S GOING ON IN THE OVERALL MARKET.

SO IF FLIP THE PAGE, YOU'LL SEE THE BIDS THAT WE GOT THIS MORNING.

WE HAD, UH, FIVE BIDS SIGN UP AND SUBMITTED BID.

THE WINNING BID CAME FROM TD SECURITIES AT FOUR SIX.

UH, YOU'LL SEE AT THE TIME WE HAD 19 4 45, UH, PUT TOGETHER OUR BID SPECS ABOUT ONE WEEK AHEAD OF THE SALE, RIGHT? AND THEN WE POST THE VALUE I RESERVE IN OUR BID DOCUMENTS, THE RIGHT TO OX, RIGHT? BECAUSE I WANNA BE SURE WE GET A NICE EVEN DEBT SERVICE SCHEDULE, UH, INTENDED.

SO I RESERVE THAT RIGHT? AND, UH, EXERCISED THAT.

UH, WE DO THAT EVERY, EVERY COMPETITIVE SALE THESE DAYS.

AND SO THE NEXT PAGE IS THE ACTUAL DEBT SERVICE AND THE ROUNDUP SELLING BASED ON THE PREMIUM THAT THEY BID, UH, 19,480,000 IN BONDS.

BUT THEY DID PURCHASE THESE AT A PREMIUM.

SO WHAT THAT MEANS IS WE'RE GONNA BE PUTTING 20,400,000 INTO YOUR CONSTRUCTION FUND, WHICH IS THE EXACT AMOUNT OF EACH OF THE PROPOSITIONS ADDED UP IN TOTAL THAT WE'RE SELLING FOR.

SO, UH, OVERALL, UH, PLEASED WITH THE RATES, ESPECIALLY WITH SECURITIES COMING IN AND PUTTING UP 4, 6, 5, THAT'S, UH, 12 BASIS POINTS THROUGH THE SECOND PLACE BID.

SO, YOU KNOW, THANK YOU.

TD SECURITIES, UH, AGGRESSIVE BID.

UH, SO, UH, MY RECOMMENDATION FOR THE CITY WOULD BE THAT WE ACCEPT THE BID FROM SECURITIES AND THE BONDS FOR THEM.

AND I WOULD BE HAPPY TO ENTERTAIN ANY QUESTIONS THAT YOU MAY HAVE ABOUT THE BONDS OR THE PROCESS.

ANSWER WHERE WE GO FROM HERE CLOSING.

WE EXPECT TO HAPPEN ON AUGUST THE 19TH.

HOW MANY BIDDERS DO IS TYPICAL IN A SALE LIKE THIS? YOU KNOW, WE USUALLY, WE HAVE TO GET THREE, RIGHT? UH, WE'VE BEEN SEEING ANYWHERE BETWEEN FIVE AND 10 BIDDERS.

WHEN WE GET INTO A SITUATION LIKE WE'RE IN NOW WHERE

[00:20:01]

BUT THERE'S STILL THE SAME NUMBER OF FIRMS. BECAUSE, YOU KNOW, THINK OF IT THIS WAY.

I THINK, UH, THERE'S ONE, IT'S A HEAVY VOLUME, RIGHT? SO THERE'S A LOT OF BONDS COMING CONNECT.

AND UH, I MAY SAY, YOU KNOW WHAT, UH, MODESTO SECURITIES, CAN I GO IN WITH YOU ON THIS DEAL? USUALLY I BID IT ALL BY MYSELF, BUT THIS TIME, 'CAUSE I WANT TO SPREAD MY CAPITAL AND MY OPPORTUNITY ON A VERY HEAVY WEEK, LET ME JOIN WITH YOU.

SO WE SEE THAT HAPPEN, RIGHT? THAT, THAT FIRMS JOINED TOGETHER.

UM, SO, UH, I I I'M NOT ALARMED AT ALL THAT, UH, WE HAVE FIVE INSTEAD OF 10.

A FEW WEEKS AGO, WE MAY HAVE HAD, UH, YOU KNOW, BEFORE THE SPIKE UP, WE PROBABLY WOULD'VE HAD 10.

UM, BUT UH, WHEN YOU GET INTO A MARKET LIKE THIS, AND AGAIN, HEAVY VOLUME, YOU'VE GOT A LOT OF STEEL DISTRICT.

'CAUSE THE SCHOOL DISTRICTS ARE TRYING TO WORK OUT STATE FUNDING RUNS ON A FISCAL YEAR THAT ENDS 8 31.

SO THEY WANNA HAVE THEIR, BEFORE THEY GO INTO, UH, THE NEW YEAR STARTING NINE ONE BECAUSE, UH, THEN THEY CAN DECLARE THAT AND YOU FOR STATE FARM.

SO IT'S KIND OF, YOU KNOW, THAT'S ONE OF THE REASONS WHY IT'S A HEAVY VOLUME LEAGUE IN TEXAS.

THE GOOD NEWS IS WE ARE A STRONG CREDIT ALL ON OUR OWN, RIGHT? AA, UH, ONE AA PLUS.

AND, UH, THE OTHER PAPER THAT'S COMING TO MARKET IS FINE, BUT IT'S WRAPPED WITH A PERMANENT SCHOOL FUND GUARANTEE.

SO THE MARKET CAN HANDLE, YOU KNOW, SO MUCH OF THAT.

WE'RE KIND OF LIKE THAT, UH, YOU KNOW, SWEET CANDY DESSERT, UH, HIGH CREDIT THAT IS NOT A PERMANENT SCHOOL FUND GUARANTEE.

SO, UH, I THINK THAT'S ONE OF THE REASONS WHY TD SECURITIES KIND OF PUSHED THROUGH EVERYBODY, YOU KNOW, TO GET TO THE FRONT OF THE LINE.

DID HISTORICALLY, DO WE NORMALLY SELL BONDS TOWARD THE END OF THE YEAR VERSUS DURING THE SUMMER? UH, WE TOOK THIS APPROACH DIFFERENTLY THIS TIME.

YEAH.

UM, NORMALLY WE SELL IN THE DECEMBER TIMEFRAME, UH, OCTOBER, NOVEMBER, I MEAN OCTOBER.

AND THEN WE GET OUR MONEY IN DECEMBER.

UH, WE'RE MAYBE A LITTLE BIT EARLY THIS YEAR, BUT TYPICALLY WE ARE IN, UH, YOU KNOW, THIS KIND OF WINDOW AROUND YOUR BUDGET WHERE YOU'RE SETTING YOUR TAX.

SO THIS IS NOT THE BEST TIME TO BE SELLING BONDS BECAUSE OF THE, UH, UNCERTAINTY OF TARIFFS.

IS THAT CORRECT? UH, YOU KNOW, I MEAN, UH, YOU KNOW, WHAT ARE THE TARIFFS REALLY GONNA DO? I MEAN, UH, BUT YOU MENTIONED THE REASON THE RATES WERE HIGHER, THE SPIKE IS BECAUSE OF TARIFFS, BECAUSE IT, IT SPOOKED THE MARKETS, RIGHT? DID SPOOK THE MARKETS.

BUT THE MARKETS ARE VERY RESILIENT.

AND, UM, YOU KNOW, RATES NOW ARE STILL LOWER THAN, UH, IN, IN PAST YEARS.

I WAS LOOKING AT SOMETHING FOR ANOTHER CLIENT THAT IN, UM, 2023, WE HAD THAT LONG AGO.

SO, UH, YOU KNOW, MARKETS GO UP AND DOWN.

YOUR NEEDS ARE WHAT YOUR NEEDS ARE.

UH, AND WE DON'T TRY AND TIME THE MARKET THAT'S, THAT'S A REASON PROPOSITION.

WE'D ALWAYS BE SITTING ON THE SIDELINE WAITING.

YOU NEED THE MONEY TO GO GET IT.

AND, UH, WE DON'T TRY AND TIME THE MARKET, UH, NEXT YEAR.

IF YOU WERE TO COME, YOU KNOW, A YEAR FROM NOW, MAYBE WE'D BE LOWER BECAUSE MAYBE, MAYBE NOT.

MAYBE WE DON'T, WE DON'T KNOW IF WE LOOK THAT WE ALL BE RIPPED RIGHT NOW.

RIGHT? WELL, AGAIN, YOU LOOK AT THE HISTORY AND THERE'S, THROUGH THE HISTORY THAT YOU SHOW IN YOUR GRAPH, THERE'S JUST THE SAME SIZE OR HIGHER SPIKES THAT OCCURRED, UH, FOR WHATEVER REASON, UM, OVER THE YEARS AND STUFF.

SO, UH, IT'S JUST, I MEAN, YOU'VE GOTTA, IF YOU'RE GONNA GO SPEND THE MONEY, YOU'VE GOTTA TAKE YOUR BEST SHOT AND, UH, GO OUT IN THE MARKET AND HOPEFULLY GET GOOD RETURNS, UH, NUMBERS ON IT.

AND, UM, BECAUSE AGAIN, IT'S, IT'S JUST LIKE PEOPLE GO OVER THERE AND THEY, THEY, THEY DEBATING ON IS, IS DO I BUY A HOUSE NOW OR DO I WAIT TILL INTEREST RATE GOES DOWN? WELL, AT THE END OF THE DAY, ONE'S GONNA GO UP, ONE'S GONNA GO DOWN.

SO IT'S, ANYWAY, IT, YOU JUST GOTTA, IF YOU'RE GONNA DO IT, DO IT.

AND

[00:25:01]

SO JUST MOVE FORWARD, YOU KNOW, JUST LOOKING, LOOKING AT THAT, UH, 20 YEAR GRAPH.

I MEAN, I DON'T KNOW WHAT THE AVERAGE IS OVER THAT 20 YEARS, BUT IT'S PRETTY CLOSE TO THE RATE THEY WERE QUOTING.

YEP.

LOOKS TO ME.

AND HOW LONG IS THIS, UM, THIS RATE, UH, AVAILABLE FOR WHAT? THIS, THIS WILL BE A FIXED RATE, SO IT'LL BE, UH, IT WON'T CHANGE THROUGH THE LIFE OF THE BONDS.

YOU HAVE AN OPTION TO PREPAY OR REFINANCE THE BONDS IN, UH, 2034.

WELL, MY QUESTION WAS MORE THE CASE OF HOW LONG DO WE HAVE TO COMMIT TO THIS TODAY.

TODAY? OKAY.

NO PRESSURE.

OKAY.

NO, NO PRESSURE.

OKAY.

ANYBODY ELSE HAVE ANY QUESTIONS ON THIS? NO.

ALRIGHT.

I'LL GO AHEAD AND READ THE, UH, YES RESOLUTION.

MAYOR, THIS IS AN ORDINANCE AUTHORIZING, UH, THE ISSUANCE OF THE CITY OF LAKE JACKSON, TEXAS LIMITED TAX BOND SERIES 2025, ENTERING INTO A PAYING AGENT REGISTRAR AGREEMENT AND APPROVING ALL OTHER MATTERS RELATED THERETO.

ALL RIGHT.

AND AS WE MENTIONED, UH, WE'RE LOOKING TO DO A FIRST AND FINAL READING ON THIS.

SO WE'LL NEED A, A SUSPENSION OF THE RULES FOR REQUIRING A FIRST AND FINAL READING.

MAYOR, I'LL MAKE A MOTION TO SUSPEND THE NEED FOR A SECOND READING.

OKAY.

MOTION TO SUSPEND COUNCILWOMAN SETH.

SECOND.

SECOND BY CONSTABLE BAKER.

ANY QUESTIONS? ALL IN FAVOR SAY AYE.

AYE.

A AYE.

OKAY.

THAT SUSPENDS THE RULES.

OKAY.

NOW WE'LL NEED A MOTION TO GO FORWARD OR NOT WITH THE, UH, ORDINANCE NUMBER 2303.

MAYOR.

I'LL MAKE A MOTION TO, UH, APPROVE THE ORDINANCE 2303 AUTHORIZING ISSUANCE OF CITY OF LAKE JACKSON, TEXAS LIMITED TAX BOND SERIES 2025, ENTERING INTO A PAYING AGENT REGISTRAR AGREEMENT AND APPROVING ALL OTHER MATTERS RELATED THERETO.

FIRST AND FINAL READING, WE HAVE A MOTION FOR COUNCILWOMAN SETH, SECOND STATE BY COUNCIL BUELL.

IS THAT RIGHT? YES, SIR.

ALRIGHT, COUNCILMAN MULE, ANY FURTHER DISCUSSIONS? QUESTIONS? ALL IN FAVOR SAY AYE.

AYE.

AYE.

THANK YOU.

ALRIGHT,

[2. Discuss and consider the approval of Ordinance No. 2304 authorizing the issuance of the “City of Lake Jackson, Texas Waterworks and Sewer System Revenue Bonds, Series 2025”; entering into a paying agent/registrar agreement; and approving all other matters related thereto. First and Final reading – Joe Morrow/Dan Martinez]

DISCUSS AND CONSIDER THE APPROVAL OF ORDINANCE NUMBER 2304 AUTHORIZING THE ISSUANCE OF, UH, THE CITY OF LAKE JACKSON, TEXAS, WATERWORKS AND SEWER SYSTEM, REVENUE BONDS SERIES 2025, ENTERING INTO A PAYING AGREEMENT REGISTRAR AGREEMENT, UM, AND APPROVING ALL OTHER MATTERS RELATED THERE TO FIRST FINAL READING.

ALRIGHT, ANOTHER $20 MILLION COUNCIL DID GO OUT TODAY.

REVENUE BONDS.

WE WENT THROUGH THE SAME PROCESS, GETTING THE RATING IN PLACE FIRST.

UH, I WOULD ENCOURAGE READ, UH, MANAGEMENT IS ONE OF YOUR MAJOR STRENGTHS.

YOU DO A LOT OF RIGHT.

YOU DO LOT OF THINGS.

GOOD THINGS DON'T JUST HAPPEN.

PLAN YOUR WAY WITH MANAGING YOUR, UH, FINANCES, YOUR FUND BALANCES, UH, YOUR BUDGETING.

IT'S JUST, BY THE WAY, BUDGET PROCESS RIGHT NOW.

BUDGET PROCESS IS LIKE YOUR, YOU KNOW, ONE OF THE THINGS THAT THES ARE LOOKING IS HOW MUCH DO WE CHANGE THIS THROUGHOUT? DID WE DID IT RIGHT? DID WE DID IT WRONG? DID YOU HELP? YOU KNOW, DID YOU HAVE A DICHO AND BARREL COME THROUGH THAT KIND OF FORCES YOUR HAND ON THINGS? AND HOW DID YOU MANAGE THAT? AND HOW DID YOU COME THROUGH AFTER? SO WELL DONE.

UH, SO PLEASE DO TAKE A MOMENT,

[00:30:01]

UH, YOU LOOK FAVOR, RIGHT? AND THIS IS, THIS IS THEM LOOKING AT CITIES OF SIMILAR CHARACTERISTICS ACROSS THE NATION, RIGHT? SO IT'S NOT JUST TEXAS, YOU'RE RATED THIS HIGH LOOKING AT CITIES AND COMMUNITIES ACROSS THE UNITED STATES.

SO BACK TO, UH, IF YOU'LL TURN BEHIND NOW OR BEHIND, UH, TAB TWO, AND WE HAVE A SIMILAR GRAPH.

IT LOOKS ALMOST THE SAME, BUT THIS IS FROM REVENUE BOX.

AND YOU'LL NOTICE THAT ABOUT THE ONLY DIFFERENCES WE'RE A LITTLE BIT HIGHER.

WE HAVE A FEW LITTLE DIFFERENT, UH, JIGS AND JAGS IN IT, BUT IT'S VERY, UH, VERY SIMILAR.

I WAS SEEING THE MEETING AND UTILITY BONDS TRADE A LITTLE BIT HIGHER THAN GENERAL OBLIGATION FUNDS, RIGHT? WHY IS THAT? UH, 'CAUSE YOU CAN'T BEAT TAX.

I WALK AWAY FROM MY WATER BILL, YOU GONNA HAVE SOME LEASE, UH, BUT WITH AN AOR TAX, YOU'RE ATTACHING A LIEN TO SOME PROPERTY.

SO YOU MAY NOT GET IT THAT YEAR, BUT YOU'RE GONNA GET IT SOONER, RIGHT? RIGHT.

THAT PROPERTY, PROPERTY WILL TRADE AND YOU'RE GET IT.

SO THERE, UH, TRADE WITH A LITTLE BIT HIGHER YIELD, WHICH IS WHY I WAS GETTING A LOT OF CALLS ABOUT THE RISK SALE AS WE WERE, UH, YOU KNOW, COMING INTO THIS WEEK OF PEOPLE WANTING A CREDIT REPORT AND, UH, THINGS OF THAT NATURE.

GET THAT OPPORTUNITY TO HAVE A VERY GOOD BOND THAT'S GONNA GIVE THEM A LITTLE BIT MORE YIELD, RIGHT? BECAUSE WATER AND SEWER IS AN ESSENTIAL UTILITY, RIGHT? I GOT HALF.

IT'S NOT LIKE CABLE WHERE I CAN SAY I'M CUTTING THE CABLE, I'M DOING WHATEVER TO WATCH MY MEDIA CONTRACT.

SO, YOU KNOW, IT'S A VERY STRONG CREDIT.

UM, YEAH, JUST FOR THAT REASON, I WOULD'VE TALKED AND YOU LOOK AT THE UH, UH, GRAPH HERE AND VERY SIMILAR.

WE GOT FIVE BIDS ON THIS ONE AND, UH, OUR WINNING BID CAME UP FROM RW 4 37.

THERE ONLY FOUR BASIS POINTS BEHIND THE FIDELITY CAPITAL MARKETS.

AND THEN THEY ALL FELL IN FAIRLY CLOSE BEHIND THAT.

UM, SO THAT'S, UH, YOU KNOW, THAT'S ONE OF THE GOOD THINGS RW BEARD DID, UH, STEP IN AND BUY THESE, UH, UH, THEY'RE A LARGE OF TEXAS PAPER.

WHERE, WHERE ARE THEY? OUTTA HEADQUARTERS.

OKAY.

I WON'T OWE YOU TO IT.

I'M NOT SURE ON, UH, WHERE THEIR HEADQUARTERS ARE.

I'M USUALLY DEALING WITH THE, UH, OFFICE IN .

SO THEY MAY BE, UH, THEY'RE ALL OVER.

SO FOR SAME REASONS YOU MENTIONED THAT, YOU KNOW, YOU GOTTA HAVE THE SEWER AND YOU GOTTA HAVE THE WATER.

YOU WOULD THINK THEIR INTEREST RATES WOULD BE CHEAPER BECAUSE YOU HAVE MORE GUARANTEE THAT YOU GEO BONDS CAN, YOU ARE FORCED BY TEXAS LEGISLATURE HOW MUCH REVENUE YOU CAN GET, YOU KNOW, TAXATION WISE.

BUT UTILITY BONDS, YOU KNOW, USUALLY RATES ARE GONNA BE MORE BALANCED THAN, UH, SO I WOULD'VE EXPECTED THAT TO BE OPPOSITE.

FLIP, FLIP FLOOP.

WELL, SO CAN YOU EXPLAIN THAT? WHY WOULD THAT NOT BE? IT'S THE STRENGTH OF AN ADMIRAL TAX APPROACH.

OKAY.

AND RIGHT NOW, YOU KNOW, THE LEGISLATURE, UH, HASN'T HARMED US ON GEO BONDS YET.

MM-HMM.

WATCH THIS SPECIAL SESSION.

WE'RE WATCHING IT CLOSELY.

WE'LL NOTIFY YOU IF SOME OF THESE THINGS MOVE FORWARD BECAUSE THERE'S SOME REALLY BAD THINGS IN THERE.

RIGHT? SOMETHING ALONG THE LINES OF REVENUE BOND ISSUING AND GETTING THESE PROCEEDS, COUNTING AS REVENUE THAT YOU WOULD'VE TO COUNT IN YOUR OVERALL REVENUE, WHICH WOULD BE FOR THE CITY ACROSS EVERYTHING, RIGHT? SO THERE'S SOME REALLY, UH, DIFFICULT PROVISIONS IN THERE.

WE'LL KEEP YOU IN TOUCH WITH THAT.

BUT AGAIN, IT GETS DOWN TO WITH A REVENUE BOND, UM, AND WATER AND SEWER UTILITIES, YOU

[00:35:01]

WHAT AM I GONNA DO? I'M GONNA CUT YOUR, BECAUSE AND TAX LEVY, I'M GONNA FORECLOSE ON YOUR PROPERTY BECAUSE YOU DIDN'T PAY ME.

SO IT'S THE STRENGTH OF YOUR CRASH COLLECTIBILITY THAT MAKES THE DIFFERENCE.

MM-HMM.

IT'S MILWAUKEE, WISCONSIN, MILWAUKEE.

GOOD.

MM-HMM.

DOES ANYBODY HAVE ANY OTHER QUESTIONS? ALRIGHT, YOU GONNA READ THE YES SIR.

ORDINANCE, THIS IS AN ORDINANCE AUTHORIZING THE ISSUANCE OF THE CITY OF LAKE JACKSON, TEXAS WATERWORKS AND SEWER SYSTEM, REVENUE BONDS SERIES 2025, ENTERING INTO A PAYING AGENT REGISTRAR AGREEMENT AND APPROVING ALL OTHER MATTERS RELATED THERE TOO.

SO, AGAIN, I'LL NEED A, UH, MOTION TO SUSPEND THE RULES FOR FIRST AND SECOND.

I MAKE A MOTION.

ALRIGHT.

A MOTION BY COUNCILMAN SCHOOLER.

SECOND, UH, SECOND COUNCILMAN SETH.

ALL IN FAVOR SAY AYE.

AYE.

AYE.

OPPOSED? ALL.

SO WE SUSPEND THE RULES.

I'LL TAKE A MOTION ON THIS ORDINANCE.

UH, MAYOR, I'LL MAKE AN ORDINANCE TO APPROVE ORDINANCE NUMBER 2304 AUTHORIZING THE ISSUANCE OF THE CITY OF LAKE JACKSON, TEXAS WATER WORKS AND SEWER SYSTEM, REVENUE BONDS SERIES 2025, ENTERING INTO THE PAYING AGENT REGISTRAR AGREEMENT AND APPROVING ALL MATTERS RELATED THERETO.

I HAVE A MOTION FROM COUNCILWOMAN SETH.

COURSE.

SECOND.

SECOND.

BUT COUNCILMAN BAKER, ANY DISCUSSION? ALL IN FAVOR SAY AYE.

AYE.

ANY OPPOSED? ALRIGHT, THANK YOU VERY MUCH.

IS THERE ANYTHING WE NEED TO SIGN AND GIVE YOU TONIGHT? JUST THOSE INTEREST RATES LOCKED IN.

[3. Quarterly Financial Updates – James Bryson]

WE'RE GONNA GO AHEAD AND, UH, THE MOMENT WE'VE ALL BEEN WAITING FOR MM, THAT'S RIGHT.

THE, THE STANDUP COMEDIAN, THE, THE HEART AND SOUL OF LAKE JACKSON.

I DON'T KNOW IF MY COMMUNICATION EXCITING IS JOE.

OKAY.

AND MILLION TO PLAY WITH.

YEAH, I KNOW.

YEAH, HE JUST, YEAH, FOR THIS PRESENTATION, ONE QUARTER LEFT TO GO.

SO THIS PRESENTATION'S AS OF JUNE 30TH, 25.

FIRST PAGE IS THE NUMBER OF CASH REPORT, THE INVESTMENTS KIND LIKE TO LET Y'ALL KNOW WHAT WE QUARTER.

SO THE, THAT THIRD QUARTER, WE, UM, WE HAD A DEBT PAYMENT FOR THE UTILITIES IN APRIL, ABOUT 1.5 MILLION.

WE HAD TWO GARBAGE TRUCKS COME IN.

WE HAD SIX PICKUP TRUCKS AND A REWORK.

SO THAT WAS PORTION YOU'RE UNPLUGGED, JAMES.

I WAS ACOUSTIC.

UM, AND THEN IN JUNE FOR FIRST NATIONAL, THAT INCREASE, THAT WAS 3.9 MILLION THAT WAS COMING FROM THE INDUSTRIAL DISTRICT.

WE GET THAT PAYMENT TWICE A YEAR.

WE GET IT IN DECEMBER AND IN JUNE.

SO THAT 3.4 IS WHAT YOU SEE THAT BROUGHT UP THE BALANCE ON THE FIRST NATIONAL ACCOUNT.

WHEN DO WE GET THAT AGAIN? WE GET IT IN JUNE.

UH, WE GET IT TWICE A YEAR, UH, DECEMBER OR JANUARY, RIGHT AT THE END AROUND CHRISTMAS TIME.

I THINK IT'S RIGHT AT CHRISTMAS.

AND THEN WE GET IT AT JUNE.

RIGHT.

IT'S NICE CHRISTMAS GIFT.

UH, YEAH, IT'S A NICE CHRISTMAS.

YES SIR.

THAT, AND THEN ALL THE PROPERTY TAX COMES IN.

SO WE'RE PRETTY FLESH RIGHT AT THE, AROUND THE FIRST OF THE YEAR.

BUT THAT'S WHAT WE, THAT WAS WHAT MONEY WENT TO BE USED FOR.

AND THE, THE TECH STAR GOT DROWNED DOWN TO ABOUT 1,000,005.

AND THAT'S BECAUSE OF THE PARKS FUND THAT ROBIN'S BEEN DOING.

AND THEY STARTED MOVING DIRT WITH THE ANIMAL FACILITY.

SO THAT'S WHY THE BONDS, THE BOND MONEY AND THE TECHSTAR CAME DOWN A LITTLE BIT, BUT THAT'S REALLY WHERE THE CASH WENT THIS, THIS LAST QUARTER.

ANY QUESTIONS ON CASH? OKAY.

THEN THE NEXT PAGE WE GO TO, UM, REVENUES OBVIOUSLY SINCE WE'RE THE THIRD QUARTER, YOU'D WANT ANYTHING TO BE OVER 75% ON REVENUES AS YOU GO DOWN THE LIST.

YOU CAN SEE PROPERTY TAXES AT 94.

OBVIOUSLY WE GET MOST OF THAT IN DECEMBER, JANUARY, SO WE SHOULD

[00:40:01]

WE SHOULD BE ABLE TO DO THAT.

SALES TAX YOU CAN SEE HAS BEEN GOOD FOR US THIS YEAR WE'RE 84% AS OPPOSED TO 75.

IF IT WAS BASED OFF JUST THE BUDGET.

UH, YOU GROW YOUR WAY DOWN.

INDUSTRIAL DISTRICT CAME IN GOOD FOR US.

UM, WE TALKED A LITTLE BIT ON SATURDAY ABOUT COURT.

SO THE FINES AND FEES IS THE ONE THAT'S A LITTLE BIT LOW AT 62%.

THE, UH, MISCELLANEOUS, THERE'S A LITTLE BIT OF AN AUCTION REVENUE THAT WAS ADDED INTO THAT.

AND THEN THE INSURANCE RECOVERY OF ABOUT 27,000.

SO THAT'S WHAT MAKES UP THE MISCELLANEOUS INCREASE.

AND THEN ON THE GRANTS, THAT WAS THE TWO GARBAGE TRUCKS.

WHEN WE DE DECOMMISSION THE GARBAGE TRUCKS, WE GET THE, THE MONEY FROM CNG FROM THE STATE.

SO THOSE ARE TWO OF THE $80,000.

SO THAT'S $160,000 GRANT THAT WASN'T NECESSARILY BUDGETED FOR.

AND THAT COMPLETES THAT GRANT FOR ALL FOUR GARBAGE TRUCKS.

YES.

SO OVERALL REVENUES ARE REALLY GOOD SHAPE COMPARED TO WHAT WE HAD BUDGETED.

AND THE NEXT PAGE, OBVIOUSLY WE TALKED ABOUT PROPERTY TAXES, THAT MOSTLY, THAT'S OBVIOUSLY ALREADY BEEN COLLECTED.

YOU GET COLORED PAGES THIS TIME BECAUSE YOU PAID FOR THAT SERVICE WITH YOUR BUDGET WITH HDL.

SO YOU'VE GOT VIVID BLUES AND GREENS.

IF YOU LOOK AT THE, UH, FIRST ONE, IF OCTO DECEMBER THROUGH JAN, JUNE, EVERYBODY EVERY MONTH WAS GOOD, EXCEPT FOR APRIL WAS JUST OFF A LITTLE BIT.

WE NEEDED A FEW MORE EASTER BASKETS TO BE SOLD AND WE WOULD'VE DONE REALLY WELL THE WHOLE YEAR.

AND I COMPARED LAST YEAR'S 2024, TOP 10 TO THIS YEAR'S 2025 TOP 10, SAME TOP 10.

AND IN RELATION TO LAST YEAR TO THIS YEAR, YOU KNOW, THERE'S LAST YEAR AT 2.6, THERE'S, HERE WE'RE AT THREE.

SO THERE'S 400,000 INCREASE ON THE TOP 10.

AND WITH THE OTHER ONES, OTHER LARGE COMPANIES.

LAST YEAR THEY WERE AT 4.4.

THIS YEAR, THE 4.9, SO THERE'S ANOTHER 500,000.

SO THAT 900,000 IF YOU LOOK UP THERE, THAT'S ABOUT THE DIFFERENCE IN SALES TAX FOR THE YEAR.

YEAH.

AND IF YOU WENT BACK 20 YEARS, AMAZON WAS NOT THERE.

NO.

AND DOW CHEMICAL WAS NOT THERE AND BUCKY'S WAS NOT THERE.

AND THEN, UM, MARMAX WAS NOT THERE.

AND FOR THOSE THAT DON'T KNOW, MARMAX IS OBVIOUSLY MARSHALLS AND TJ MAXX.

I FIGURED MOST PEOPLE WOULD KNOW THAT.

BUT WE DIDN'T LAST.

I DID NOT KNOW THAT.

, I DON'T GO TO HOME.

WAS IT HOME GOODS? HOME GOODS.

OH, GOODS.

YEAH.

I HAVEN'T BEEN TO HOMEGOODS, SO I DIDN'T KNOW WE KEEP IT IN BUSINESS.

MAYBE WE SHOULD HAVE GONE THERE AND BOUGHT SOME EASTER BASKETS.

I, IF I GOT MY EASTER BASKETS.

NO, BUT JAMES KEEPS AMAZON FUNDED.

.

I KEEP THE YEAH, I DO.

OH, I KNOW.

POOR ERICA.

SHE WAS IN MY OFFICE THREE TIMES A DAY WITH PACKAGES.

UM, ANYWAY, SO THE SALES TAX REVENUES, THERE'S SEVERAL REPORTS IN THERE THAT SHOW YOU THE INDUSTRY.

OBVIOUSLY IT'S IN RETAIL WHERE WE MAKE OUR, OUR LION'S SHARE OF THE REVENUES ON SALES TAX.

UM, CIVIC CENTER STILL DOING WELL FOR US REC CENTER'S STILL DOING WELL.

WELL THOSE ARE ALL THE MAJOR REVENUE SOURCES FOR THE CITY ON THE PAYROLL REPORT.

ON, ON THE, OH, GO AHEAD.

YEAH, YOU WENT TOO FAST.

NO, I WAS JUST, I WAS LOOKING AT ALL YOUR COLORS.

OH, .

THE, UH, SO YOUR SALES TAX NET PAYMENT CHANGE YEAR OVER YEAR.

SO YOU GOT YOUR GREEN AND YOUR RED, WHICH IS RED IS NEGATIVE FOR WHATEVER COLOR THAT IS IN GREEN.

SO THIS IS SAYING THAT FOR THE LAST TWO YEARS WE'VE, OUR SALES TAX YEAR OVER YEAR HAS BEEN POSITIVE.

YES SIR.

YEAH.

YEAH.

SO WE'RE GROWING.

OKAY.

MM-HMM .

OH, WE ARE, EXCEPT FOR, WE'VE BEEN BUDGETING 2% PERCENT APRIL 25.

IT'S BEEN A LITTLE BETTER THAN WHAT WE'VE DISSIPATED.

OKAY.

WE BUDGETED 2% FOR THIS CURRENT COMING BUDGET AS WELL, CORRECT? I BELIEVE.

YES.

THAT'S MR. CONSERVATIVE.

YES.

YES SIR.

LET IT BE NOTED.

I AM MORE CONSERVATIVE THAN BILL.

MORE CONSERVATIVE THAN BILL.

BUT ANYWAY, BUT, BUT IT'S ALWAYS A NICE SURPRISE IF IT HAPPENS, THE NUMBER LOW, THEN YOU'RE HAPPY WHEN IT'S BETTER.

UM, IF YOU WANNA GO TO PAYROLL.

YEAH.

SO OBVIOUSLY PAYROLL YOU'D WANT FOR THE THIRD QUARTER TO BE UNDER 25% SINCE AN EXPENSE ACCOUNT.

AND I THINK IF YOU SCROLL DOWN, YOU'LL SEE THAT THEY PRETTY MUCH ALL ARE SO RIGHT IN LINE WITH BUDGET FOR SALARIES, WHICH OBVIOUSLY MAKES UP THE LARGEST PERCENTAGE OF OUR COSTS, UH, ON PAYROLL.

MM-HMM .

IT SHOWS OUR SECOND QUARTER.

IT WAS A 30 IN OVERTIME, 33.95.

WAS THAT DUE TO THE HURRICANE? NO, NO, THAT'S USUALLY IT'S FESTIVAL OF LIGHTS.

FESTIVAL OF LIGHTS AND STUFF LIKE THAT.

[00:45:01]

YEAH, IT'S SEASONAL AND WE KIND OF PLANNED FOR IT AND IT'LL DROP VISIBLE LIGHTS USUALLY IS, UH, ALL HANDS ON DECK FOR EVERY DEPARTMENT.

THANK YOU.

YES, SIR.

I, AND THEN BY DEPARTMENT, YOU KNOW, I'M THE, I'M NUMBER 14, THAT'S FINANCE ON THE BAD ONE ON THERE FOR 43%.

I MADE THE LADIES RUN SOME LAPS.

UM, BUT I ONLY HAVE A $2,000 BUDGET.

SO IF THEY SPEND FOUR HOURS OVERTIME IN A MONTH, THEN IT PUTS ME OVER BUDGET.

SO YEAH, I DID TELL 'EM THOUGH THAT I'M WATCHING NOW, BUT I'D GIVE THIS REPORT TO COUNCIL.

SO THEY NEED TO BE ON THEIR PS AND QS.

PS AND QS.

LET'S SEE.

AND THEN WE GOT THE WATER.

YOU CAN SEE CONSUMPTION IS DOWN JUST A LITTLE BIT, BUT REVENUE'S UP.

OBVIOUSLY WE HAD A RATE INCREASE LAST YEAR, SO THAT'S SOME OF, OF ACCOUNTABILITY FOR IT.

WE ARE DOWN JUST A LITTLE BIT OFF OF BUDGET.

UH, BUT WE HAD KIND OF A WHAT MAY, JUNE.

SO I THINK WE WILL, AS WE GET IN JULY, AUGUST, SEPTEMBER, THOSE WILL BE OUR BUSIER MONTHS BECAUSE OF THE, THE HEAT OF THE SUMMER.

JAMES AND I HAVE TALKED ABOUT THIS ALSO.

WE'RE GONNA SEE HOW WE CAN IMPROVE THIS AS WELL BECAUSE NOW THAT WE'VE, UH, WE'RE GETTING BETTER REPORTS ON THE UTILITIES NOW THAT WE'VE, YOU KNOW, HAVE, UM, HAD AN AUDITOR COME IN AND SHOW US, UM, I'VE ASKED JIM TO SEE IF WE CAN SUPPLEMENT THIS OFF THE AS WELL WITH GALLONS SOLD BECAUSE SOMETIMES REVENUE DOESN'T, DOESN'T PAINT THE COMPLETE VENTURE.

'CAUSE WE'VE HAD A RATE INCREASE.

WE NEED TO LOOK AT THE GALLON SOLD AS WELL.

SO, UH, WE'LL WE'RE GONNA SEE IF WE CAN GET THAT INTO OUR REPORT STRUCTURE.

SO I HAVE A QUESTION ON THIS.

UH, ON COMMERCIAL YOU HAVE AN INSTITUTIONAL BASE, THEN YOU HAVE INSTITUTIONAL IRRIGATION.

SO THAT IRRIGATION IS JUST FOR INSTITUTIONAL.

UM, COMMERCIAL CAN HAVE, UM, IRRIGATION AS WELL, RIGHT? IRRIGATION AS WELL.

IS THAT INCLUDED IN THAT INSTITUTIONAL OR SEPARATE? JAMES, DO YOU KNOW ON WHICH ONE? THE INSTITUTION AND THEN IRRIGATION.

OH, AND THEN YOU HAVE IRRIGATION.

YOU HAVE IRRIGATION, RESIDENTIAL, WHICH IS NOT VERY MUCH YOU SAID, RIGHT? NO, NO, I THINK IT'S, IT'S, SO YOU HAVE APARTMENTS, YOU HAVE COMMERCIAL, YOU HAVE INSTITUTION, YOU HAVE IRRIGATION.

AND YOU VERSION IS, UM, IRRIGATION STANDS ALONE IS, IS, IS STANDALONE.

AND IT CAN BE COMBINED, IT CAN BE COMMERCIAL AND INSTITUTIONAL INSIDE OF THERE.

WE DON'T, WE DON'T BREAK IT OUT ON THE SYSTEM.

ITS IRRIGATION ALSO, WHICH NO MUCH HIGHER NUMBER.

WELL, YOU CAN HAVE HOMES THAT ARE RES THAT A HOME CAN HAVE IRRIGATION, BUT A COMMERCIAL BUSINESS CAN HAVE IRRIGATION AS WELL.

SO IRRIGATION IS JUST IRRIGATION BY ITSELF.

AND THERE'S JUST A FEW OF THOSE.

IT, IT'S A LITTLE TRICKY LOOKING IN THE REPORT IS JUST, YOU'LL SEE APARTMENTS, THE TOTAL, AND THEN YOU'LL SEE COMMERCIAL, THEN YOU'LL SEE INSTITUTIONAL AND THEN YOU'LL SEE IRRIGATION AND THEN YOU'LL SEE RESIDENTIAL.

YEAH, I DIDN'T THINK THERE WERE THAT MANY RESIDENTIAL METERS FOR JUST IRRIGATION.

THAT WHAT? NO, THE UH, NO, NO, NO.

THE RESIDENTIAL TOTAL IS, IS, IS THAT'S JUST THAT LOOKING AT THE WRONG, IT'S NOT A, THE WHY THEY'RE STACK.

IT'S, IT IS A SUMMARY ON THE BOTTOM.

THE TIME.

IT'S HARD TO LOOK AT.

I DIDN'T CREATE THE REPORT.

IT WAS AN IT PERSON.

SO THAT'S, YOU HAVE TO THINK LIKE AN IT PERSON.

I GUESS IT'S NOT AN IT ONE ROOM.

YEAH, THAT'S UNDER ME.

BUT YEAH, LET'S JUST THROW IT UNDER THE BUS, JAMES.

IT'S UNDER MY DEPARTMENT.

JAMES.

JAMES, BEFORE YOU MOVE ON, COULD YOU GO BACK TO THE, THE SLIDE THAT SAYS PAYROLL BENEFITS ANALYSIS BY QUARTERS? OKAY.

UM, YES SIR.

SO THE FIRST AND SECOND QUARTERS, POSSIBLY EVEN THE THIRD, I DON'T REMEMBER WHEN, UH, PHYSICAL OR START, BUT THOSE ARE ACTUAL AMOUNTS IN THOSE COLUMNS.

IS THAT CORRECT? YES SIR.

BUT FOURTH QUARTER HAS NOT OCCURRED YET.

SO WHAT ARE THE NUMBERS IN THE FORM BETWEEN FOURTH QUARTER YOU, SO THE REPORT DOESN'T CUT OFF, IT RUNS.

SO IN, EVEN THOUGH I'M RUNNING IT, LIKE WE'RE DOING THIS REPORT END OF JUNE, JULY ALREADY HAS A PAY PERIOD OR TWO IN IT.

SO YOU'RE SEEING JULY'S ACTIVITY IN FOURTH QUARTER.

YEAH.

SO THE FOURTH QUARTER IS KIND OF LIKE THE FOURTH QUARTER YEAR.

YEAR TO DATE OR QUARTER QUARTER TO DATE.

QUARTER TO DATE, YEAH.

IN THAT LAST QUARTER SUMMARY.

OKAY.

SO IT'S PICKING UP A MONTH.

THE THIRD QUARTER'S ALL FIRST, SECOND AND THIRD QUARTER COMPLETE.

FOURTH QUARTERS JUST STARTED.

SO THIS BALANCE IS IN THIS ACCOUNT.

OKAY.

SO IT'S BEGINNING FOR THE QUARTERS, WHAT'S PORTION OF FOURTH QUARTER YES.

HAS OCCURRED.

YES.

SO THERE'S ONLY BEEN LIKE ONE PAY PERIOD IN THE FOURTH QUARTER? I HAVE TO, IT WAS THE FIRST WEEK OF JULY.

THAT JULY 4TH PAYCHECK WOULD BE THAT ONE.

AND THAT WOULD PROBABLY BE IN THERE.

OKAY.

THAT WAS MY QUESTION THEN.

THANK YOU.

YES, SIR.

YEAH, NO, IT'S JUST THE TIMING.

SOME OF THE REPORTS YOU CAN'T GO BACK

[00:50:01]

THEY JUST CONTINUE TO RUN.

IT'S AN OLD SYSTEM.

SO WE'RE LIMITED WITH WHAT THE INFORMATION IS.

WE CAN PULL ON SOME OF THEM.

AGAIN, A PROBLEM WITH IT.

YEAH, THOSE PEOPLE, A GOOD FINANCIAL DIRECTOR WOULD GO BACK.

WELL THAT'S WHAT, YEAH, AFTER 30 YEARS, YOU'D THINK THEY'D HAVE IT NAILED DOWN BY NOW, BUT, UH, IT'S NOT OVERSTATED.

EVERYBODY'S GOING UNDER THE BUSES.

YEAH, LET'S HOPE IT IS NOT WATCHING OR YOU'RE GONNA GET SHUT OFF PRETTY, I I CAN'T LOSE ANOTHER PERSON RIGHT NOW.

SO LET'S SEE.

UH, LET'S SEE HERE.

WHAT UP.