The City of Columbia City Council met for a Special Called Meeting on Thursday, May 26, 2005 in the City Council Chambers at 1737 Main Street, Columbia, South Carolina. The Honorable Mayor Robert D. Coble called the meeting to order at 5:30 p.m. The following City Council members were present: The Honorable Anne M. Sinclair, The Honorable Hamilton Osborne, Jr., The Honorable Sam Davis, The Honorable Tameika Isaac Devine and The Honorable Daniel J. Rickenmann. Absent was The Honorable E.W. Cromartie, II. Also present were Mr. Steven A. Gantt, Senior Assistant City Manager and Ms. Erika D. Salley, City Clerk.
Upon motion by Mayor Coble, seconded by Ms. Devine, Council voted unanimously to go into Executive Session at 5:31 p.m. for the discussion of negotiations incident to proposed contractual arrangements related to the University of South Carolina Research Campus.
· City Council adjourned the Executive Session at 6:57 p.m. to reconvene the Special Called Meeting.
CITY COUNCIL DISCUSSION / ACTION
A. Memorandum of Understanding and Intergovernmental Agreement Relating to the Financing of Certain Parking and Related Facilities for the Research Campus of the University of South Carolina
Upon motion by Mayor Coble, seconded by Mr. Osborne, Council voted unanimously to approve a Memorandum of Understanding and Intergovernmental Agreement Relating to the Financing of Certain Parking and Related Facilities for the Research Campus of the University of South Carolina subject to amending Sec. 3.02 to add “All bonds to be issued to finance the construction of Garage B will be marketable at interest rates and terms deemed reasonable by the City’s financial advisor.
· Council adjourned the meeting at 6:58 p.m.
Respectfully submitted by:
Erika D. Salley