On Friday August 1, 2014 at approximately 9:55 p.m., clear sky, ~78F and a light breeze 2 of us were walking SSW on Stillwood Lane in Northwest Austin, 78757. As we were approaching the intersection of Briarwood Lane and Stillwood Lane we observed in the Southern night sky at approximately 40 degrees above horizon, perhaps a few miles up in the air, what appeared to be a one of the brighter stars in the night sky moving approximately NNE at somewhat slightly above the normal velocity for a commercial airliner. The most notable characteristic was that the star-like light was constant and did not waver at all. This compared to all the other planes, satellites and other moving objects in the Austin night sky. This observation occurred for perhaps just under a minute. Then as we continued walking and watching the UFO began moving away from the main part of the cityscape. It was at this time the object started to speed up a bit, ascend rather quickly and sort of fade out (into a dark yellowish-to browinish, shrinking light) and sped up during it's ascent. From the time it started to really speed up and ascend to it's final "flickering" out was perhaps 15-20 seconds. In total the witnessed event occurred for approximately a minute and a half and then the light disappeared off into the NNE night sky, sort of following the path of Northbound IH-35.
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