HomeMy WebLinkAbout07-10-97 TC Min279
TOWN OF WESTLAKE
MINUTES OF THE
SPECIAL EMERGENCY MEETING OF THE
BOARD OF ALDERMEN
JULY 10, 1997
Present: Scott Bradley, Mayor
Charla Bradshaw, Mayor Pro -Tem
Abe Bush, Jr. Member
Fred Held, Member
Paul Isham, Town Attorney
Joseph Colvin, Bankruptcy Attorney
Ginger Crosswy, Town Secretary
Absent: Carroll Huntress
Howard Dudley
The meeting was called to order at 7:43 p.m. by Mayor Bradley. Mayor Bradley
then explained the need for the meeting by telling the assembly that the Bankruptcy Court
in Dallas will hold a hearing at 1:30 p.m. on Friday, July 11, 1997, to determine whether
or not the Town's chapter 9 bankruptcy filing will be dismissed. If the bankruptcy is
dismissed, the Town will be deprived of it's right to assert it's Federal fraudulent transfer
claims under Sec. 548 of the Bankruptcy Code. The Town's Bankruptcy counsel advises
that the budget for the fiscal year ending September 30, 1998, should be adopted so that it
may be considered by the Bankruptcy Court.
Item #1: PUBLIC HEARING concerning the budget for the fiscal year ending
September 30, 1998. Mayor Bradley opened the Public Hearing for comments
from the audience. No one present wished to address the Board so the Public
Hearing was then closed. The Mayor announced that public hearings on the
budget will be held on Monday, July 14, 1997, and for several meetings
thereafter in order to allow ample opportunity for citizens to be heard on the
budget. The Mayor also stated that the budget may be amended from time to
time.
Item #2: Consider and take action to approve the budget for the fiscal year ending
September 30, 1998. After a lengthy question and answer period there was a
motion by Alderman Bradshaw, seconded by Alderman Held, to adopt
Resolution No. 97-43 approving the budget for the fiscal year ending
September 30, 1998.
Motion carried unanimously.
At this time Mayor Bradley introduced Joseph Colvin, one of the Town's
Bankruptcy Attorneys. Mr. Colvin reminded the Board that in hiring the firm
Cantey & Hanger, L.L.P. as the Town's bankruptcy attorneys, they were
July 10, 1997
Emergency Meeting
Page 2
acknowledging that attorneys from the firm would be asking questions in court
of Mayor Bradley, who is associated with this firm as of counsel.
Motion by Alderman Bradshaw, seconded by Alderman Bush, to adjourn.
Motion carried unanimously.
The meeting was adjourned at 8:12 p.m.
Scott Bradley, Mayor
ATTEST:
Ginger Crosswy, Town Secretary