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Mayor Huntoon said he had read the agreement with Mr. King, and he is going to
<br />8(� supervise the construction of the building until completion, and for that, ac-
<br />cording to the agreement, the City is paying him $60,000. Mayor Huntoon said
<br />he felt that was a tremendous sum of money for his duties or what the City
<br />expects to get from him.
<br />Councilman Rios asked if there was anything that Mr. King specifically
<br />specializes in, that perhaps our own City inspectors could not take care
<br />of, or inspect.
<br />Mr. Trevino stated it is not only a matter of inspection, but of supervision,
<br />running the job, and that is what the contract calls for. Mr. King has been
<br />hired to insure that the project is built according to the plans and specifica-
<br />tions.
<br />Councilman Rehrer also asked about our City Building Inspectors, and the archi-
<br />tect, stating the architect is the one who makes the decisions under the direc-
<br />tion of the City Council, and he did not understand why the project needs a
<br />Construction Manager, this was a waste of money.
<br />Discussion was then held on the final documents as prepared by Best, Best & Krieger.
<br />Councilwoman Cisneros said she would like to know the total payment made to Best,
<br />Best & Krieger at this point for the preparation of these documents. Mrs. Cisneros
<br />said she heard $20,000, and she also knows in one of the actions of the City Council
<br />an amount of $10,000 was brought up, and does that mean there has been a total of
<br />$30,000 paid to Best, Best & Krieger for this project.
<br />Mr. Trevino said he has no idea, he does know that $20,000 has been paid to Best,
<br />Best & Krieger, but he does not know what other monies have been paid out.
<br />8. Purchase Agreement - agreement by Birr, Wilson indicating certificates would be
<br />purchased by underwriter.
<br />Mayor Huntoon stated there is $760,000 worth of Certificates that have been sold,
<br />and they are now in the hands of the new owners. Mayor Huntoon asked what Birr,
<br />Wilson & Company charged the City to sell the Certificates.
<br />Mr. Trevino said $148,362, however, this amount also includes discount, cost of _
<br />issuance, mark to market, and special counsel.
<br />Mayor Huntoon asked out of the $760,000, how much finally got deposited in
<br />the Bank of America.
<br />Mr. Trevino stated the Bank of America received a check in the amount of
<br />$617,464.03.
<br />10. Standard Form of Agreement - agreement between owner and architect.
<br />Mayor Huntoon asked what were the terms of the agreement with the architect.
<br />Mr. Trevino said he thought that Bonadiman & Associates were the architects and
<br />their fee was something like $48,000.
<br />Councilman Rios asked if the architect has been paid in total at this time.
<br />Mr. Trevino stated he thought the architect has been paid approximately $35,000
<br />and the balance is yet to be paid.
<br />Mayor Huntoon asked when the balance will be paid to the architect.
<br />Mr. Trevino answered when the City receives a statement from the architect it
<br />is reviewed by the City and sent to the trustees, the trustees then review it
<br />and then pay it.
<br />16. Check for $295,562., #103584 - City's share of construction.
<br />Mayor Huntoon asked why the City had to add this amount, $295,562, and what
<br />was it for.
<br />Mr. Trevino explained the issue was $760,000, and the balance to make up the
<br />difference to pay for the cost of the interest, over a 10 year period, was
<br />$1,055,562., and subtracting the $760,000 from this amount gives you the
<br />amount of the City's share, which is the total cost of the Library over an
<br />eleven year period, $1,055,562.
<br />Mr. Trevino also explained that from this figure of $295,562, Best, Best &
<br />Krieger was paid $20,000 for their services in preparing the documents.
<br />APR 21 1II'D 3Or
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