New Braunfels Herald Zeitung (Newspaper) - November 27, 1991, New Braunfels, Texas
HerakJZt/fung, New Braunfels, Texas
Wednesday, November 27, 1991
A walk for hunger
The fifth annual Crop Walk Sunday raised money for the SOS Food Pantry of New Braunfels. This year the walk was spearheaded by local churches, high school and middle school student councils. Pictured from left, Cooper Cochran, Chris Snider, Erin Perkins and Stephanie Billick. (Photo by Karla Wenzel)
Board votes to refinance debt
By LARRY ROWE 8ttff Writer
In hopes of $1 million in savings, the New Braunfels Utilities board of trustees agreed Monday to move toward refinancing the debt on the Canyon hydro-electric plant.
If approved, the refinancing essentially means that NBU would issue new bonds at today’s lower interest rate to pay off the previous, higher-rate bonds, said NBU General Manager Bob Sohn.
“You wind up paying less by a million dollars than you would be by paying the old bonds,” Sohn said.
James Cooksey, controller for the Guadalupe-Bianco River Authority of Texas, told the trustees, “I’m confident that we’ll save at least $900,000 unless the market goes really sour for
us between now and next week ”
The river authority built the plant and now maintains and operates it. NBU benefits from the electricity produced.
A total of $13.9 million in revenue bonds for the facility was issued in 1987 at an interest rate of 8.6 percent. But in 1991, the rate began to drop dramatically.
The interest rate now is down in the range of 6.9 percent. About $13 million in debt remains on the plant.
Underwriters now will take the bonds to market to determine if the interest rate at which they can sell them actually is low enough to produce net savings of at least $900,000.
NBU board President E.C. Mom-
hinweg is charged with approving or rejecting the deal in early December based on the market's outlook.
The board unanimously approved the terms and conditions of the refinancing, which were carried in three documents — the official statement, the bond resolution and the bond purchase agreement.
The official statement by the trustees explains everything a bond buyer would want to know about the bond issue and the utilities. The resolution is a legal document defining the terms of the bond sale. And the agreement states that the bond buyer understands the conditions of the sale.
Sohn said refinancing the debt would not extend it. The bonds are scheduled to be paid off in the year 2016.
As a gesture of cooperation, NBU and river authority officials and financial advisers went to a City Council workshop after the trustees’ meeting in order to present the refinancing plan.
The council later unanimously approved a resolution to ratify the adoption of the board’s actions.
In 1986, the New Braunfels City Council gave the NBU trustees complete authority to deal with any financing of the Canyon Lake project, so the trustees actually do not need the council’s approval for the refinancing, Sohn said.
The underwriters who will take the bonds to market are the Chicago-based John Nuveen Co. M.E. Allison Co. bf San Antonio.
New Braunfels Emergency Medical Service and fire calls from 7 a.m. Nov. 22 to 7 a.m. Nov. 25:
9:02 am. — EMS; 200 block of Gruene Rd. to McKenna Memorial Hospital; medical emergency.
10:16 — EMS; 1400 block of Texas 46 to McKenna; medical emergency.
2:10 pm. — McKenna to Methodist Hospital, San Antonio; cardiac emergency transfer.
3:03 — EMS; Seville at Interstate 35 to McKenna; motor vehicle accident/transport two.
3:03 — EMS; Seville at Interstate 35; assist EMS.
4:53 — NBFD; 145 N. Castelli electrical fire/bad ballast.
11:17 — NBFD; HOO block of Oasis; assist EMS.
10:01 am. — EMS; 1400 block of W. Mill to McKenna; medical emergency.
2:56 p.m. — EMS; Slumber Falls Campground to McKenna; medical emergency.
3:36 — EMS; HOO block of Church Hill Drive to McKenna; medical emergency.
7:03 — EMS; McKenna to St. Lukes Hospital, San Antonio; cardiac emergency transfer.
10:54 — EMS; 600 block of Bavarian to McKenna; medical emergency.
1:34 am. — NBFD; Wald Road at Krueger Canyon; smoke odor.
11:18 — EMS; McKenna to Humana Hospital, San Antonio; cardiac
1:12 pm. — NBFD; 600 block of U.S. 81; steam from car.
4:03 — EMS; Kirkwood Manor to
McKenna; medical emergency.
10:35 — EMS; Linde Apartments to McKenna; medical emergency. *
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The following persons have received a marriage license from the Comal County Clerk’s Office.
Ronald Lynn Meadows and Karen Dianne Messenger of Marion.
Kenneth Jerry Halek and Celia Rosales Garcia of New Braunfels.
Thomas Richard Hartman and Nancy Ann Motz of New Braunfels.
Mathew Thomas Bowen and Teresa Lyne Foster of New Braunfels.
Dwight Alan James and LeiiUa Coral Raines Volkman of Universal City.
Oilbcno Rodriguez and Anna Garcia of New Braunfels.
Alfonso Morales and Amelia Molina of New Braunfels.
Reuben Oeorge Wilburn and Daphne Lea Johnson of New Braunfels.
Preston Francis McKinney and Anne DuBose of Cibolo.
Jeffrey Dale Dietert and Bobbie Jo Henk of New Braunfels.
George Dale Curry and Kathleen Trucksess of Marion.
Kenneth Wayne Preusser and Rhonda Lenee Raabe of New Braunfels.
David Lee Vanclervcen and Lana Melynda Mills of Canyon Lake.
Ricky Lane Wilson and Barbara Stiff Wilson of Bulverde.
Jeremy Rowell Fieldscnd and Debra Elizabeth Huitt of New Braunfels.
John Darrell Griffith and Teresa Perales of New Braunfels.
Louis Dewey Lynch Jr. mid Doris Zerbcl Steubing of San Antonio.
Richard Martin Randow and June Wilson Price of New Braunfels.
Carl lr ansu Ho/heuxer and Karen Sue Merdian of New Braunfels.
Ruben Marcus Corte/. Jr. and Patricia Ramirez of New Braunfels.
Kenneth Roy Seidel Jr. and Janet Kenee Dirst of New Braunfels.
Ronald Loyd Rudolph and Patsy Laverne Rudolph of New Braunfels.
Mark Allen Hartman and Kandi Lee McKinney of New Braunfels.
Edwin Paul Donhauser and Shan-nab Christine Doege of New
Michael Lewis Hutchinson and Juliana Alberta Chesnavage of San Antonio.
Byron Keith Setter and Alison Ann Schraeder of New Braunfels.
James Drury West and Carlina Villein of San Antonio.
Donald Ray Mc Broom and Bton-wyn Ann Wilson of New Braunfels.
Michael Francis Rcdfem and Collette Coe Redfcm of San Antonio.
Saturday and Evening Classes Available Classes held at Holiday Inn
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Lutheran Brotherhood ls proud to be served by Kelton Lange and dreg Gunderson.
Their commitment to excellence and integrity has made them a great asset to Lutheran Brotherhood and to all the Lutherans thev serve in tire Seguin/Neuf Braunfels area.
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