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Home My WebLink AboutSeptember 5, 2006 Regular Session BackupTown of Trophy Club Municipal Utility District No.1 Meeting Agenda 100 Municipal Drive Trophy Club, Texas 76262 Tuesday, September 5, 2006 6:00 P.M. A.1 Call to Order and Announce a Quorum. B.1 Open Public Hearing B.2 Public Hearing to discuss proposed MUD 1 tax rate for FY 2006-2007. B.3 Close Public Hearing C.1 Discuss and take appropriate action regarding the award / rejection of a proposal for banking depository services and authorization to staff to complete contract documents for subsequent Board approval. C.2 Discuss and take appropriate action regarding the election of MUD 1 officers for FY 2006-2007. a. President b. Vice President c. Secretary/Treasurer D.1 Receive District Manager's Report a. Items to be placed on future agendas D.2 Review and Approve Minutes a. August 8, 2006 - Regular Session minutes D.3 Review and Approve Disbursements a. July 2006 D.4 Review Monthly Tax Collection Report a. Report to be available for the September 14th meeting. D.5 Set Next Meeting Date a. Thursday, September 14, 2006 at 5:30 p.m. F.1 Adjourn. MUNICIPAL UTILITY DISTRICT #1 From: The Office of the Municipal Utility District#1 Date: 9-5-2006 Subject: Agenda Item No.A.1 Call to Order and Announce a Quorum. (mm) MUNICIPAL UTILITY DISTRICT #1 From: The Office of the Municipal Utility District#1 Date: 9-5-2006 Subject: Agenda Item No. C.1 Discuss and take appropriate action regarding the award / rejection of a proposal for banking depository services and authorization to staff to complete contract documents for subsequent Board approval. (rau) STAFF COMMENTS/RECOMMENDATION: The response received from First Financial Bank (sole respondent) for the Request for Depository Proposals has been reviewed by Staff, and they have complied with all items included in the RFP. Staff recommends acceptance of the response from First Financial Bank. TROPHY CLUB MUNICIPAL UTILITY DISTRICTS Highlights/Recap of First Financial Bank’s response to RFP: Only responder: First Financial Bank Amount of paid-up capital stock: $32,860,221 Fee schedule: No fees will be charged for any services Town & Master District Line of Credit: $200,000 line, no fees or set-up costs Employees with direct deposit receive: Free checking to all Employees No min. balance Preferred loan rates Free check card & online banking Interest on checking accounts: Paid at the rate of Bank’s daily Fed Fund minus 1.5% Financing of Equipment: Equivalent to municipal bond with the same terms Overdraft provisions: Checks not returned/no fees or interest for the first 5 days. If longer, the rate will be the same as the amount we would earn with a positive balance. MUNICIPAL UTILITY DISTRICT #1 From: The Office of the Municipal Utility District#1 Date: 9-5-2006 Subject: Agenda Item No.C.2 Discuss and take appropriate action regarding the election of MUD 1 officers for FY 2006-2007. a. President b. Vice President c. Secretary/Treasurer MUNICIPAL UTILITY DISTRICT #1 From: The Office of the Municipal Utility District#1 Date: 9-5-2006 Subject: Agenda Item No.D.1 Receive District Manager's Report a. Items to be placed on future agendas (mm) MUNICIPAL UTILITY DISTRICT #1 From: The Office of the Municipal Utility District#1 Date: 9-5-2006 Subject: Agenda Item No. D.2 Review and Approve Minutes a. August 8, 2006 - Regular Session minutes (mm) Attachments: 1. Minutes MINUTES OF REGULAR SESSION TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1 August 10, 2006 The Board of Directors of the Trophy Club Municipal Utility District No. 1 of Tarrant and Denton Counties met in Regular Session on Thursday, August 10, at 5:30 p.m., in the Boardroom of the Trophy Club Administration Building, 100 Municipal Drive, Trophy Club, Texas 76262. DIRECTORS PRESENT: Dean Henry President Connie White Secretary/Treasurer Jim Hase Asst. Secretary/Treasurer Neil Twomey Director DIRECTORS ABSENT: Gary Cantrell Vice President STAFF AND GUESTS PRESENT: Walter Fitzpatrick District Manager Shannon DePrater Acting Recording Secretary Roger Unger Finance Director Bob West Attorney Mike Pastor IT Manager Danny Thomas Fire Captain Sakura Dedrick Financial Analyst REGULAR SESSION A.1 Call meeting to order. President Henry announced a quorum and called the meeting to order at 5:31 p.m. A.2 Public Comments or Presentations. No public comments. B.1 Discuss and take appropriate action regarding MUD 1 President announcing September 5, 2006, as the date for a Public Hearing regarding the Fiscal Year 2006-2007 MUD 1 Budget to maintain or lower tax rate. Director Twomey moved to announce September 5, 2006, as the date for a Public Hearing for FY 2006- 2007 MUD 1 Budget to maintain or lower the tax rate. Director Hase seconded the motion; motion carried unanimously. B.2 Discuss and take appropriate action regarding taking a record vote to place a proposal to adopt the tax rate on Thursday, September 14, 2006. Director White moved to place a proposal to adopt the tax rate on the Thursday, September 14, 2006, agenda. Director Twomey seconded the motion; motion carried unanimously. B.3 Discuss and take appropriate action regarding recommendation to approve MUD 1 Budget for Fiscal Year 2006-2007. Discussion regarding decreasing the tax rate ensued. Questions were raised on what that would do to with the reserves. The Board tentatively agreed to lower the tax rate from $0.28 to $0.25 per $100 valuation, subject to final action following the public hearings. Director Hase moved to recommend approval of the MUD 1 Budget for Fiscal Year 2006-2007 in the amount of $480,757. Director Twomey seconded the motion; motion carried unanimously. D.1 Receive District Manager's Report a. Items to be placed on future agendas District Manager Fitzpatrick stated he would provide an update at the Master District meeting. D.2 Review and Approve Minutes a. July 11, 2006 - Regular Session minutes Director White moved to approve the minutes for July 11, 2006. Director Twomey seconded the motion; motion passed unanimously. D.3 Set Next Meeting Date a. Tuesday, September 5, 2006 at 6:00 p.m. The Board agreed to meet on above date and time. F.1 Adjourn. Meeting adjourned at 5:45 p.m. _________________________________ Dean Henry, President (SEAL) ____________________________________ Constance S. White, Secretary/Treasurer ____________________________________ Shannon DePrater, Acting Recording Secretary MUNICIPAL UTILITY DISTRICT #1 From: The Office of the Municipal Utility District#1 Date: 9-5-2006 Subject: Agenda Item No.D.5 Set Next Meeting Date a. Thursday, September 14, 2006 at 5:30 p.m. (mm) Attachments: 1. Calendar Sunday Monday Tuesday Wednesday Thursday Friday Saturday 1 2 3 4 •Offices Closed •Comm's Court Replay 5 •MUD 1 6 •Warning Siren Testing •MUD2 7 8 9 10 11 •Comm's Court Replay •EDC B •Town Council 12 13 14 •MUD 1 •MUD 2 •Master District 15 16 17 18 •Comm's Court Replay •Town Council 19 •Town Hall Meeting 20 21 •P&Z 22 23 24 25 •Comm's Court Replay 26 27 28 29 30 MUNICIPAL UTILITY DISTRICT #1 From: The Office of the Municipal Utility District#1 Date: 9-5-2006 Subject: Agenda Item No.F.1 Adjourn. (mm)