New Braunfels Herald Zeitung, February 1, 2000, Page 5

Publication: New Braunfels Herald Zeitung February 1, 2000

New Braunfels Herald Zeitung (Newspaper) - February 1, 2000, New Braunfels, Texas Tuesday, February I, 2000 — HERALD-ZEITUNG — Page 5Athe Market in Review State working for accurate head count Daily Dow Jones Jan.31,2000 # CLOSE 10,940.53 NET CHANGE +201.66 % CHANGE +1.88 HIGH 10,956.36 LOW 10,701.64 RECORD HIGH Jan. 14. 2000 11,722.98 DOW JONES OCT. 1999 NOV. DEC. JAN. 2000 7,000 Stock Market Indexes 52-Week High Low Name Last Chg %Chg YTD %Chg 12-mo %Chg 11.750.28 9.063.26 Dow Industrials 10.940.53 +201.66 +1.88 -4.84 +17.06 3.797.05 2.572.21 Dow Transportation 2,571.65 -10.10 -.39 -13.62 -20.84 336.03 268 59 Dow Utilities 315.14 +8.56 +2.79 +11.22 +6.23 663.50 572.38 NYSE Composite 621.73 +9.92 +1.62 -4.39 +4.06 919.30 685.85 Amex Market Value 860.25 -799 -92 -1.91 +20.71 4.303.15 2,224.21 Nasdaq Composite 3,940.35 +53.28 +1.37 -3.17 +56 98 1.478.00 1,211.89 SSP 500 1.394.46 +34.30 +2.52 -5.09 +9.54 458.32 352.35 S&P MidCap 431.79 +1.60 +.37 -2.90 +14.31 540.60 381.96 Russell 2000 496.23 -8.39 -1.66 -1.69 +16.46 13,812.67 11.146.59 Wilshire 5000 13.230.62 +213.02 +1.64 -4.21 +13.18 Stock Exchange Highlights NYSE 621.73 +9.92 9 Amex 860.25 -7.99 NASDAQ 3,940.35 +53.28 Gainers ($2 or more) Gainers ($2 or more) Gainers ($2 or more) Name Last Chg %Chg Name Last Chg %Chg Name Last Chg %Chg OreStl 5Vi6 +1'/16 +25.0 ThrmBio 26Vi6 +79/16 +40.9 Hathwy 37/32 + 11%2 +83.9 BritSky 143 +25 +21.2 Thmqst I6V4 +33/4 +30.0 Jason 10% +31/4 +45.6 TelNrdeC 541/2 +83/4 +19.1 ThCardio 119/16 +21/8 +22.5 ElcFuel 125/16 +39/16 +40.7 iBakrHu 2411/16 +3% +18.6 TwldHlth 3 +1/2 +20.0 USA Bio 31/2 + 1 +40.0 CascdeCp 101/8 +1'/2 +17.4 Spigadoro 3 +3/fe +14.3 OSI Sys 93/4 +23/4 +39.3 ! Avista pfL 2 Ira +23/4 +14.7 HanvDir 3 +3/fe +14.3 ACMT A 131/16 +31/16 +30.6 jCarrSrv 515/16 +11/16 +13.1 ThmoEco 7’/s +% +14.0 DigitTel 6V2 + 11/2 +30.0 | tnron s 67% +711/16 +12.8 DrivHar 31/4 +3% +13.0 Intevac n 77/32 + 12’/32 +29.8 I Hershey 421/2 +43/4 +12.6 CapAlli 213/16 +5/16 +12.5 QiaoXing n 41 +91/8 +28 6 CocaCE 251/4 +23/4 +12.2 Thermed 6% +% +12.2 Gradco 21/16 +2%4 +25.7 Losers (S2 or more) Losers ($2 or more) Losers ($2 or more) Name Last Chg %Chg Name Last Chg %Chg Name Last Chg %Chg I Meditrust 35/s -23/6 -39.6 Luxtec ec 2 -1/2 -20.0 CentBusn 32%2 -37/32 -46.4 ; WldFuel 6% -113/16 -209 Joule 2 -3/fe -15.8 AbleTel 411/16 -35/16 -41.4 I lOmegHit 73/4 -17/16 -15.6 MaxmP wt 233/4 -4 -14.4 HvnlyDoo 41/2 -131/32 -26.9 I Sothbys 2OV2 -31/2 -14.6 OC Optics 37/16 -9/16 -14.1 Vlon wtA 111/16 -3'5/ie -26.2 I RylCar pf 142Vi6—2359/i28 -14.2 NTNCom 21/2 -3/S -13.0 IntlElec 2,7/32 —3%2 -25.0 I Provntge n 73A -11/4 -13.9 TrexMed 31/2 -1/2 -12.5 UHrtg 31/2 -1'/8 -24.3 lAdvCmG 12 -13/4 -12.7 Caresde wt 31/2 -1/2 -12.5 ICHOR 2% -3/4 -24 0 | lChyron 31/2 -1/2 -12.5 DigiLav wt 2% —% -11.5 ReadRt 37/32 -1 -23.7! IvexPkg 79/16 -11/16 -12.3 MaxlmPh 3315/16 -41/16 -10.7 Cantab 141/8 -3% -21.5 | Aviation 89/16 -13/16 -12.2 jHorizPhm I 25/3 -5/16 -10.6 DiscvLabs 4% -11/4 -21.3, Most Active (Si or more) Most Active (si or more) Most Active ($1 or more) Name Vol (OO) Last Chg Name Vol (00) Last Chg Name Vol (OO) Last Chg lAmOnlne S304868 56% -2 Nasd 10OT n 1798421791/8 +7'/8 Qualcom s394895 127 + 163/4 I Compaq 217935 273/b +1/8 SPDR 107687 1 399/16 +31'/ie Microsft s 350752 97% -% ! (Lucent s 151452 55 -3/4 US Cell 22503 67 -4% DellCptr s 330997 387/ie + 13/16 AT&T s 124774 523/4 +3% InterDig 22502 29 -111/16 Intel s 325756 9815/16 +43/4 PhilMor 115252 21 +1/4 IntntHTr n 21744 1 487/i6 -1/16 Cisco s 320321 1091/2 +5% ! :SBC Com 111626 42% +35/8 SP Tech 13123 509/16 +1% Oracle s 3 1 8 1 43 4961/64 +23%4 ; Citigrp s 102036 57 +% DJIA Diam 9966 1091/2 +2%2 MCI Wld S287129 45,5/i6 +45/16 1 Pfizer s 100897 363/16 + 1 Nabors 9408 295/8 -3/16 SunMic s 176724 789/16 +31/2 Tycolntl s 98890 43'/i6 +13/16 FAusPr 8829 51/8 JDS Urns 16158920315/ie +8V16 Bk of Am 84116 487/i6 +211/16 GreyWolf 8293 3 -1/16 Amgen s 121939 6311/16 +4 Diary Diary Diary Advanced 1.469 Advanced 263 Advanced 1,554 Declined 1.615 Declined 350 Declined 2,561 I I Unchanged 455 Unchanged 159 Unchanged 834 i Total issues 3.539 Total issues 772 Total issues 4.949 New Highs 18 New Highs 9 New Highs 44 New Lows 168 New Lows 16 New Lows 108 Volume 1,159,535.720 Volume 73,839,530 I Volume 1,450.000.700 Stocks of Local Interest YTD YTD Name Ex Div Yid PE Last Chg %Chg Name Ex Div Yid PE Last Chg °oChg AT&T s NY 88 1.7 30 52% +3% +38 Intel s Nasd 12 .1 47 98'% +4% +20.2 AXA Fns NY .10 .3 15 32«/i6 -% -4.2 IBMs NY 48 4 27 112’/4 +% +4.1 Albertsn NY .72 24 26 30V2 +% -5.4 JDS urn s Nasd 203’% +8% +26 4 Amazon Nasd 64*16 +2% -15.2 JHFnSrv n NY 17’/4 +’/4 -2.1 AmOnlne s NY 56'e -2 -25.0 JohnJn NY 1.12 L3 34 86% +1*16 -7.7 Amgen s Nasd 62 63”% +4 +6.0 Lucern s NY .08 .1 57 55 -% -267 AppleC Nasd 28 103% +2''8 +.9 MCI Wk! s Nasd 34 45’% +4*16 -13.4 ApldMat Nasd 73 137V« +7V2 +8.3 McDnlds s NY .20 (5 27 373/16 +% -7.8 BMC Sh Nasd 38 377'8 +% -52.6 MedQst Nasd 19’% -2% -22.8 Bk of Am NY 2.00 41 11 487/i6+21Vi6 -3.5 Merck NY 1.16 1.5 32 78*8 +2*8 +17.0 BellAtl NY 1.54 2.5 23 61,5/ie +4516 +.6 Microsft s Nasd 60 97% -*S -162 BellSouth NY 76 1.6 25 46'% +3V2 +.3 MMM NY 2.24 2(4 22 93*8 +1*8 -4.3 Biogen s Nasd 62 86V« -5% +2.1 Motorola NY 48 4 136% +8% -7.3 BrMySq NY 98 15 32 66 +1% +28 NasdlOOT n Amex 179% +7% -2.0 BroadVis s Nasd 127*16 -6% -25.1 NortelNw s NY .15 2 95V2+3” ie -5.4 CMGIs Nasd .70 Ll 72 112*16 +71/16 -18.7 Novell Nasd 61 33*8 +33/16 -16.4 Cabl&Wrls NY 63/4 -'Ii +19.5 Oracle s Nasd 496v64 +237 64 -10.8 CentBusn ChaseM Ciscos Citigrp s CocaCI ColgPal s Compaq Nasd NY Nasd NY NY NY NY 1.64 .64 .64 63 10 2(0 IT 1.1 1.1 4 6 WX 13 80’’ 16 .. 109% 20 57 46 57% 41 591/4 48 27% -37/32 +4 +5*8 +% +% -1/4 +% -55.9 +3.9 +2.2 +2.4 -1.4 -88 +1,2 PagingN PepsiCo Pfizer s PhmRes PhilMor ProctG Nasd NY NY NY NY NY .54 .36 192 128 16 LO 9T 1.3 27 44 7 39 1% -% 34% +% 36*16 +1 4*8 -% 21 +'/4 100% +*16 +385 -3.2 +116 -6.3 -8.7 -7.9 Compuwr s Nasd 19 213/16 -431 Qualcom s Nasd 127 +16% -27.9 Conexnt s Nasd 841/2 -2 +27.3 GwestCm s NY 1.50 6.6 39'/2 +'*16 -7.6 CnE plA NY 4 16 7(2 58 -3.3 ReliantEn NY 6 22'% +*8 -.3 DellCptr s Nasd 64 38% +1% -246 SBC Com NY 98 23 24 42% +3*8 -12.1 Disney NY .21 6 58 36% -*8 +23.5 SPDR Amex 149 IT 139*16 +3'% -5.0 ETrades Nasd 21% -1% -19 4 Staples Nasd 41 23'%+2% +14 8 i EMC s NY 106% +4 Via -2.5 Starbcks s Nasd 55 32 +2*16 +32.0 EnterPT NY 168 12(0 9 14 +% +62 SunMic s Nasd 84 78**6 +3V2 +1.5 EncTel Nasd 05 .1 74*16 +4% +135 Tellabs s Nasd 39 54 -1% -15.9 ExodusC s Nasd 1147/8 -4*8 +293 Texlnd NY 30 .8 12 36*16 -1% -141 ExxonMob NY 1.76 2T 37 83% +4*16 +3.6 TexUtil NY 230 65 ll 35*8 +% -.5 GST Tele Nasd 81% +’/« -4.1 3Com Nasd 37 50% +4*16 +80 GTE NY 1.88 2(6 18 +3.8 TimeWrn NY 18 ".I 79”% -2*/i6 +10.2 GenElec NY 1 64 1.2 41 133% -I -137 Tycolntl s NY .05 .1 28 43'% +*% +104 GlblCrss s Nasd 50% +4% +15 VodaAirT s NY .23 4 56 +1*8 +13.1 HomeDp s NY .16 (3 61 56<Vte +1% -17.4 WalMart s NY .20 .4 47 54% -*8 -20.8 Informx Nasd 12% -1/4 +93 WellsFrgo NY .80 2.0 18 40 +1'/4 -I 1 InfoSpce s Nasd 140% -11*8 +31.0 Yahoos Nasd ... 322V16 +8*18 -25.6 I Money Rates Last Pvs Week Prime Rate 850 8.50 Discount Rate 500 5.00 Federal Funds Rate 5.875 55625 Treasuries 3-month 5.56 5.38 6-month 5.71 5.51 5-year 668 6 56 10-year 6 66 6.68 30-vear 648 664 Currencies Last  Pvs Day Britain 1.6150 1.6210 Canada 1 4467 1 4430 France 6 7631 67085 Germany 2.0165 2.0006 Italy 1996 36 1980 23 Japan 107.42 106 98 Mexico 95800 9.5800 British pound expressed in U S dollars All others show dollar in foreign currency Mutual Funds Total Assets Total Return/Rank Pct Min Inlt Obj (SMIns) NAV 4-wk 12-mo 5^year Load Invt LC 105,938 130.06 -2.5 +12.2/C +208 4/B 300 2,500 SP 104.652 128 52 -3,0 +10 3/A +224.3/A NL 3,000 LV 56,095 31 23 -2.7 +8 8/B +174.9/B 5.75 250 IV 53,135 28.25 -28 -2.4/E +150.3/C 5.75 250 IC 48 528 45 06 -2.8 +4.2/E ♦183.0/D NL 2,500 XG 46.927 57 93 -LO +141/E +229 9/C 300 2,500 LG 43,192 42 89 -1.5 +23 8/C +254 7/B NL 2,500 LG 42,330 4381 +2.0 +34 1/A +280 4/B NL 2,500 LG 36.909 7919 -0.9 +39 4/A +500 1 /A NL 2,500 IL 34,782 41.19 -1.2 +46 3/B ♦166 4/A 5.75 250 GL 33,802 75 45 +2.1 +52 9/A +289 0/A NL 2,500 GL 32,173 28 63 -1.8 +28 2/C +187 9/B 575 250 SP 28,918 127.28 -3.0 +10.4/A +226 3/A NL 10,000,000 LG 27,876 57 88 -2.3 +13 8/D ♦211 2/D NL 2,500 XG 27,406 29 07 +0.5 +34 8/C +258 4/C 5.75 1.000 LV 26.901 24.11 -2.3 -9.7 IE +133.4/D NL 3.000 BL 25,528 26 89 -37 -0 1/D +110.0/B NL 3,000 BL 24,370 1861 -1.1 -0.3/D +101 7/C NL 2,500 XG 24,363 30.03 +0.7 +44.2/C +273 2/8 5 75 500 XG 24,337 86.51 +3.1 +75 2/A +364 8/A NL 2,500 IV 24.245 43.51 -4.8 -3.9/E +140.4/D 350 2.500 IB 23,388 980 +0.1 -1.4/B +47 8/A NL 5,000,000 El 22.828 50 96 -3.1 ♦23/B +136 8/A NL 2.500 LV 21,089 18 13 -2.2 -36/E +127.0/E 5.75 500 El 21,045 15.30 -2.7 -14/C +89 9/E 575 1,000 SP 19,791 49 46 -3.1 ♦10.1/A +221.5/A NL 100,000 LG 19,068 41.11 -2.9 +9.5/E +245 5/C NL 3,000 XC 18.133 3183 -2.1 +14.5/B ♦207.9/A NL 3,000 Name Fidelity Invest Magelln Vanguard Idx Fds: 500 American Funds: ICA p American Funds: Wsh p Fidelity Invest: Grolnc Fidelity Invest: Contra Amer Century Inv: Ultra Janus: Fund Janus: Twen American Funds: Eupac p Janus WrldW American Funds: N Per p Vanguard Idx Fds: Instidx Fidelity Invest: BluCh American Funds: Gwth p Vanguard Fds: Wndsll Vanguard Fds Welltn Fidelity Invest: Puritn Putnam Funds A VoyA p Fidelity Invest: GroCo Fidelity Advisor T: GrOppT PIMCO Funds Instl: TotRt Fidelity Invest: Eq Inc Putnam Funds A: GrlnA p American Funds: Inco p Fidelity Spartan: Eqldx Vanguard Fds: USGro Vanguard Idx Fds: TotStk CP - Cap Apprac Et - Equity Inc GI - Growth & Inc. GL - Global GM ■ Gen Muni GR - Growth HM ■ Hi-Yid Muni. IB - Interm Inv-Grd Corp IL - Internal LG - Long Govt MC - Midcap MG - Mortg MP - Stock & Bd SS - Singl-St Mum Total Rein Chng in NAV with dividends reinvested Rank How fund performed vs others with sm objective A is in top 20%. E in bottom 20% Min Imt Invt Minimum $ needed to invest in fund NA rn Not avail NE = Data iii question NS * Fund not in existence    Source:    Lipper    Inc Stock Footnotes: g * Div or earns m Cdn $, stock ,n U S Sn* New in past 52 weeks pf • Preferred s = Split or stock div of 20 pct or more in past 52 weeks cc = PE over 99 dd = lose in last 12 months, rf * Rights u * Units v * Trading halted on primary market vj * In bankruptcy or receivership wd » When distnbuted wt * When issued wt * Warrants WW a With warrants Mutual Fund Footnotes: x « Ex cash dividend NL « No up-front safes charge p * Fund assets used to pay distribution costs r a Redemption fee or contingent deferred sales load may apply t * Both p and r. Gainers and Losers must be worth at least $2 to be listed in tables at left Moat Actives must be worth at least $1 Vo’ume in hundreds of shares    Source: The Associated Press. Sales figures are unofficial AUSTIN (AP) — The state will do everything it can to make certain that all Texans — especially those in the inner cities and along the Rio Grande — are counted in the upcoming census, Secretary of State Elton Bomer said Monday. Bomer, designated by Gov. George W. Bush to head up the state’s push, said people living in those areas were undercounted in the 1990 census. “We’re working for a noble cause. That is to ensure the federal government knows how many Texas residents it’s going to have to reckon with in the coming decade,” Bomer said. The state’s efforts will include local committees working to encourage full participation and to ease any fears residents may have about completing the census surveys. “We will get the word out that filling out the census questionnaire is vital to the future of our state. And more important, that filling out the census questionnaire is safe and confidential,” Bomer said, addressing concerns that some non-citizens have about answering census questions. Texas has grown more in population than any other state except California, and the census should show a total of more than 20 million people, Bomer said. The new census could result in the state getting two more members of Congress, and population is the basis for the amount of federal aid that states receive for many programs. Bush, who was campaigning for president in New Hampshire on Monday, issued a written statement saying he wants all state government agencies to cooperate. “All Texans count, and we are embarking on the most aggressive effort in our state’s history to ensure that we find and count every single Texan,” Bush said. Bomer said 32 census offices are being opened in Texas and 28,250 employees will be needed for the job. That could be a problem in areas where unemployment is at record lows, he said. “With average unemployment in Texas around 4 percent, filling these new positions is going to be difficult in some areas of the state,” Bomer said. He encouraged state employees and others to think about working part time for the Census Bureau. State Sen. Gonzalo Barrientos, D-Austin, said about 486,000 Texans were missed in the 1990 census, costing the state an estimated $1 billion in federal assistance. Although the U.S. Supreme Court has ruled that a technique called “statistical sampling” can’t be used to determine population for congressional reapportionment, Barrientos said the technique might be OK for other purposes — including legislative redistricting and determining federal aid. ST. JUDE’S/From 1A $75,000 goal. Shelby said St. Jude’s had no debt on the campus buildings, so the money would be used to fill the children’s needs. Shelby said the funds would be used for operating expenses, including food. “We are taking on more kids, which means we need additional home parents and additional funding,” she said. The St. Jude’s Bulverde campus opened in 1983 as a nonprofit home for abused, abandoned or neglected children, or children, who, for whatever reason, cannot live at home. Previously, St. Jude’s was licensed to serve up to 24 children. St. Jude's now is home to 20 youth, but the ranch increased its capacity to serve up to 38 children. St. Jude’s gets funding from Child Protective Services, county agencies and private donations. Local residents interested in donating money to help the children at St. Jude’s can make donations to St. Jude’s Ranch for Children, 14000 Ridge Creek Lane, Bulverde, TX 78163 or call St. Jude’s at (830) 885-7494. The campus is licensed by the Texas Department of Protective and Regulatory Services to care for children ages 5 to 17. But, Shelby said the ranch focused on the 12-17 age group for its basic residential care program and offered a transitional living program for youth ages 16 to 21. Children are referred to St. Jude’s from private families, Child Protective Services and county juvenile agencies. To help with the ongoing needs of the campus, St. Jude’s will benefit from the Chi Chi Rodriguez Charity Pro-Am golf tournament at the Oak Hills Country Club in San Antonio this summer. The tournament is scheduled June 18-19 and will feature several senior professionals from the Senior PGA Tour and PCA professionals from San Antonio and the South Texas area. Johnson & Johnson Co. is underwriting the tournament, with all proceeds benefiting the children at St. Jude’s. For information, contact tournament coordinator Jack Vaaler, executive vice president of Alamo Golf Association, Inc., at (210) 662-6639 or Oak Hills Country Club pro shop at (210) 384-7700. MOTION/ From 1A on June 15 in San Antonio on the charge of indecency with a child. Officials said they found McReynolds’ silver 1988 Toyota Camry at the arrest site, near New Braunfels Avenue and Arthur Street in San Antonio. The vehicle had been missing since the incident. Joumeay is in custody at Comal County Jail in lieu of a $250,000 bond on the capital murder charge and a $75,000 bond on the indecency with a child charge. If convicted of the indecency with a child charge, Joumeay could face two to 20 years in prison and a fine not to exceed $10,000. Unauthorized use of a vehicle carries a jail term up to 2 years in a tate jail facility, and a fine not to exceed $10,000. SETTLEMENT/From 1A comes from taxes, Neuse said. “The tobacco money we received allowed us to keep more of a level tax rate for the year 2000.” After the lump sum, $450 million of the tobacco settlement funds were set aside to be allocated during the next three years based on the annual indigent and other health care expenditures of each county. Comal County is projected to get between $50,000 and $90,000 in tobacco funding for 2000, which is about IO percent of the estimated $900,000 the county will spend on health care in 2000. “We do not know how we will stack up with the rest of the state,” county auditor Renken said. “We will be competing with metropolitan areas like Houston and San Antonio.” An additional $1.8 billion of the settlement was put into a permanent fund, which will distrib ute interest to all of the counties in years to come. Anyone interested in applying for the position of Comal County health educator can contact Mapston at the Uvalde District of the Texas Agricultural Extension Service at (830) 278-9151 CONVENTION CENTER /From 1A plus.” The city will collect more than enough bed tax revenue to cover expenses associated with a convention center, he said. But what if it doesn't? If the city doesn't have enough sales tax revenue to fund the library. Meek said, it could dig into the general fund. That’s exactly what people like Dunkin are worried about. “I’m personally fearful that this proposed convention center will become our responsibility unless we have good solid evidence that people will come to New Braunfels,” she said. The PRF consultants are convinced a convention center in New Braunfels could be successful. The firm, which has performed 65 similar studies, estimated a convention center here would be used at least 228 days a year and attract more than I ()(),()()() persons a year. Out of 18 Texas associations interview by PRF, 14 indicated an interest in meeting in New Braunfels if the right facility was built. In a presentation to council Jan. 20, consultant David Parker explained many state associations couldn’t find open dates in San Antonio or affordable prices. “San Antonio is growing more into the national convention scene,” he said. “This is an opportunity for New Braunfels.” The study says, “While New Braunfels has not been known for hosting large association meetings, the Holiday Inn has hosted board meetings for them, which means that association decisionmakers are aware of New Braunfels and approve of it as a meeting destination ” This awareness, in addition to the increased cost and difficulty of planning a meeting in San Antonio, make New' Braunfels an “ideal overflow market,” the study said. But New' Braunfels is no San Antonio, Dunkin said. “We do not have a 24-hour river walk or an Alamo that are open year round,” she said. And New Braunfels doesn’t have a major airport, she said. Consultant John Keeling said most convention center attendees would come by car. And New Braunfels is an attractive spot because of its German heritage and the Comal and Guadalupe rivers, the study said. Additionally, the convention center could be used for exhibition events, such as consumer shows or trade shows. In its study, PRF found an unsatisfied demand for spaces for these types of events. Despite interest from various groups, a convention center won’t be successful here unless it’s in the right location, consultant John Keeling said. “Don’t build this, unless it’s next to a hotel,” he said. PRF Consulting said it was recommending a site on the northeast corner of Gruene Road and the not-yet-built Hanz Drive extension first as a possible site for the facility. If built here, the facility would be part of the not-yet-built Cotton Crossing, a I OI-acre “neo-tradi-tional neighborhood development.” But Meek said the chamber was completely open about location. A spot near the Lower Colorado River Authority’s Comal Power Plant, which might be renovated into a hotel, could be a possibility, he said. Developer Morgan Hill, who recently signed a predevelopment agreement with LURA, said he was open to the idea of a convention center sitting near his future hotel. “Part of my interest is revitaliz ing dow ntown,” he said. “It could be a benefit to downtown to have a convention center close to it. But (the convention center’s) location is not critical to us. ... We can survive without it.” Before deciding on a location, council still must answer more fundamental questions. “The issue is pretty basic,” Shands said. “Do you want to put money aside for a down payment? Do you want to pursue this further’” Meek said council shouldn’t get “hung up” on location right now but rather focus on the potential benefits a convention center could offer to the community. He said a convention center could boast $153,000 in sales tax revenue and $210,000 in bed tax revenue a year to the city with an estimated 150,000 visitors a year. And it could offer the city a more steady source of sales tax revenue, which funds street, drainage and various other infrastructure projects. Currently, the city relies on a robust summer season for sales and bed tax revenue, Meek said. “Right now, we have all our eggs in the seasonal, Mother Nature basket,” he said. But conventions typically occur in the fall and spring — a time when hotel occupancy and visitor numbers drop in New Braunfels. A convention center could make New Braunfels a destination place year-round, increasing revenue for the city, Meek said. “The question,” he said, “is not, ‘What if we build it and they don’t come,’ but rather, ‘What if we don’t do this?”’ CD 6.63 maturing? % APY 1 yr FDIC insured Non-callable C.D.’s Rates current as of 1-25-00 Offer subject to availability and rates are subject to change HIGHEST RATES IN THE NATION. TERMS AVAILABLE FROM 3 MONTHS TO 20 YEARS. CALL TODAY FOR QUOTES. McKay Financial Services John McKay, CSA 555IH 35 South #170 Executive Plaza Building New Braunfels, TX 78130 620-7526 0/0* APY 7.50 Deposit Notes I Issued by major depository institutions I Due 1/27/15 115 Year Final Maturity I Interest paid semiannually I Callable beginning 1/27/05 at 102** I FDIC-insured up to $100,000 •Annual Percentage Yield (APY) - Interest cannot remain on deposit, periodic payout ot interest is required Effective 1/14/00 Marmet value will fluctuate if sold prior to maturity “This deposit not is callable at the option of the issuer, not the Investor Call or stop by today. Stan Cunningham 650 Landa New Braunfels, TX 78130 Bus (830) 629-0055 www.edwardjones.com EdwardJones Serving Individual Investors Since 1871  ............nnii1 ;

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Publication: New Braunfels Herald Zeitung

Location: New Braunfels, Texas

Issue Date: February 1, 2000

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