Mr. Doug Hartman

The district was able to secure a 4.18 percent on the bond indebtedness from Prudential Securities, and Doug Hartman, the district's financial adviser with First Southwest, predicted that the district may be able to lower the interest and sinking tax rate in the district by almost 1 cent per $100 valuation next year.

3. PRESENTATION BY DOUG HARTMAN , FINANCIAL ADVISOR

The City of Woodway's Financial Advisor , Doug Hartman , a representative of First Southwest Company , was present to discuss financing options for replacing the Santa Fe water storage facility , and for street and water improvements that are necessary to complete the Towards 2000 projects.He summarized the known assumptions , discussed with Council what Combination Tax and Revenue Certificates of Obligations are , and reviewed a proposed schedule of events , an analysis prepared on utility supported debt , and an analysis prepared on tax supported debt.

No action was necessary at this time ; however , Mr. Hartman did mention that Council would need to make a decision on whether or not to move forward with this process by approximately October 1st.

3. PRESENTATION BY DOUG HARTMAN, FINANCIAL ADVISOR

The City of Woodway's Financial Advisor, Doug Hartman, a representative of First Southwest Company, was present to discuss financing options for replacing the Santa Fe water storage facility (for needed additional storage capacity), and for street and water improvements that are necessary to complete the "Towards 2000" projects.He summarized the known assumptions, discussed with Council what Combination Tax and Revenue Certificates of Obligations are, and reviewed a proposed schedule of events, an analysis prepared on utility supported debt, and an analysis prepared on tax supported debt.

No action was necessary at this time; however, Mr. Hartman did mention that Council would need to make a decision on whether or not to move forward with this process by approximately October 1st.

Doug Hartman, First Southwest Company, Dallas, Texas
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Mrs. Gholson introduced Doug Hartman, Vice President of First Southwest Company, and Tom Spurgeon, the City's bond attorney from McCall, Parkhurst & Horton L.L.P.
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Mr. Hartman distributed a document he had prepared regarding the bids which had been received at 11:30 a.m.He announced that three bids had been received, with the winning bid being from First Union National Bank.He then discussed additional information provided in the handout, and answered various questions.

(Councilmember Ron Evans arrived during this discussion.)

Mr. Hartman explained that the next step in this process would be for the Council to adopt an ordinance to accept the low bid and approve all the other documentation needed to issue the bonds; and he noted that an action item to adopt such an ordinance would follow his presentation.

4. DISCUSSION AND CONSIDER ACTION ON ORDINANCE 01-23, AUTHORIZING THE ISSUANCE, SALE AND DELIVERY OF $1,500,000 IN PRINCIPAL AMOUNT OF "CITY OF WOODWAY, TEXAS, COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION, SERIES 2001"

Doug Hartman, the District's financial advisor from First Southwest Company, provided information on financing options regarding the sale of bonds and the effect on the District's future debt service.

Douglas R. Hartman325 North St. Paul St. #800Dallas, TX 75230(214) 953-4000fax: (214) 953-4050

Doug Hartman now at Citigroup Global Markets, Inc. -01/06/2005Doug Hartman is now at Citigroup.Doug is a Director and will be in the Dallas office.His new number is 214.720.5082.He was formerly with First Southwest Company in Dallas.

"We think there likely will be some form of state funding," said Doug Hartman, First Southwest senior vice president.

HICO - Doug Hartman, senior vice president for First Southwest Company in Dallas, updated members of the Hico City Council about the progress of the loan from the Texas Water Development Board during Monday's regular monthly meeting.