The City of Murphy held a budget work session on July 31, 2025, at 6:00 PM, with all council members present. The meeting focused on approving certificates of obligation, discussing utility rates, property tax rates, personnel restructuring, and one-time expenditures. The meeting adjourned at 7:12 PM.
Alright, welcome to the July 31st City of Murphy budget work session. The time is 6 p.m. I'll turn the time of the city sector. Roll call and certification of the court. Mayor Scott Radley? Here. Mayor Hilton Paperham? Here. Deputy Mayor Proton Janay Butler. Here, Councilmember Play 2 Scott Smith. Here. Council member play three. Andrew Ch. Councilmember Play Court and Holder. Here. Councilmember Place Five Lord Deal? Here. Mayor certified approved for the college. Thank you. All right. We're going to uh move directly into item three, discussion and action items. Texas tax and waterworks and sewer system. Limited pledge, revenue certificates of obligation. Series 2025, providing that the payment of such certificates of obligation by the levy of an advalorum tax upon the taxable property within the city. Uh uh within the city and a limited pledge with the net revenue derived from the operation of the city's waterworks and sewer system and resolving other matters coincidence and relating to the issuance, payment security, sale, and delivery of such certificate certificates, and providing an effective date. Yeah, I was just gonna I wanted to make a couple of uh comments. Perry Elliott, our fire chief, is dialed in. He can hear us, he can see us, we can hear him, but we just can't see him. Uh so keep that in mind as we get further into the conversation. So don't talk about them. Yeah, say only nice things. Uh but Jason Hughes is here, so we're actually just going to turn it over to him. So we don't we don't have to talk nice about him though. Jason, how are you doing today? I'm doing well, Mayor. So good to be here. Chris Deborah is also here from North Fulbright. He is the city's bond council. So a pleasure to be here. I have before you what you have uh in front of you is exactly what is up here on the screen, which is just a summary of the bond sale or the certificate of modification sales that we undertook this. So we actually put competitive bids at 10 o'clock this morning. The city received four bids, and again, the summary as well go through here. This is basically the second step. If you recall on May 20th, you approved a notice of intent. You approved that actually for 23 million after that or subsequently after that, uh, some of the projects were kind of scaled back or taken off, so we have a slightly lower amount. But again, this is basically the continuation of uh the first thing, first step that you took on May 20th. So one of the first things that we did is we did go to standard four. We got a credit rating. They did affirm the double A plus, and that is the second highest credit rating you can have, so just one step below the triple A. So that is a fantastic credit rating.