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HomeMy WebLinkAboutApril 14,2009 RegularSession with MUD2 PacketTrophy Club Municipal Utility District No. 1 Trophy Club Entities Meeting Agenda 100 Municipal Drive Trophy Club, TX 76262 Svore Municipal Building Boardroom5:00 PMTuesday, April 14, 2009 REGULAR MEETING Call to order and announce a quorum. Citizen Comment(s) and/or Presentation(s) REGULAR SESSION 1. 09-52-M1 Discuss and take appropriate action regarding TexPool Bank Resolution, amending Authorized Representatives on signature accounts. TexPoolResolution - Signatures-M1.pdfAttachments: 2. 09-53-M1 Discuss and take appropriate action regarding First Financial Bank Resolution, amending Authorized Representatives on signature accounts. 1stFinancialBankRes-M1.pdfAttachments: 3. 09-46-M1 Discuss and take appropriate action regarding Amendment to the Information Form required by Section 49.455 of the Texas Water Code. 4. 09-45-M1 Discuss and take appropriate action concerning Payment Agreement and related promissory notes between Trophy Club MUD 1 and Trophy Club MUD 2 addressing funding for New Fire Station. MUD2 Note 200k March0409.pdf MUD2 Note 86250March0409.pdf MUD2 Note 154k March0409.pdf MUD2 Note-Furniture030409.pdf Attachments: 5. 09-57-M1 Discuss and take appropriate action concerning the bond issue for the New Fire Station. Timetable_Comp Sale.pdfAttachments: 6. 09-59-M1 Discuss and take appropriate action concerning MUD 1’s financial situation. TCMUD 1 Page 1 of 55 Meeting Date: March 4, 2009 April 14, 2009Trophy Club Municipal Utility District No. 1 Meeting Agenda 7. 09-60-M1 Discuss and take appropriate action concerning the Town's plan to absorb MUD 2. Town Plan for Dissolution of MUD 2.pdfAttachments: 8. 09-50-M1 Discuss and take appropriate action to authorize the publication and distribution of factual information to residents relative to the election and/or consolidation to include the possibility of a Trophy Club MUD website. 9. 09-54-M1 Discuss and take action to schedule MUD 1 Town Hall meeting(s). 10. 09-55-M1 Discuss and take appropriate action regarding possible effects on other contracts if the Master District is terminated. 11. 09-37-M1 Receive Finance Director's Report a. Monthly Update 12. 09-28-M1 Receive Town of Trophy Club Update a. Director White to provide update from attending recent Town Council meetings. 13. 09-29-M1 Receive Town of Westlake Update a. Director Cantrell to provide Board with an update from meetings held with Town of Westlake. 14. 09-47-M1 Review and Approve Minutes a. March 4, 2009 - Regular Session M1 Minutes 030409.pdfAttachments: 15. 09-48-M1 Review and Approve Disbursements & Variance Report a. February 2009 M1 Feb-09 Variance Report.pdfAttachments: 16. 09-56-M1 Review Monthly Tax Collection Report a. February 2009 M1 TaxCollectionReport Feb09.pdfAttachments: 17. 09-61-M1 Items for Future Agendas a. Research ramifications should Town take over MUD 2. (12/08) b. Clarification of assets for 2008-2009 fiscal year audit. (Joint meeting with MUD 2) c. Amendment of New Intergovernmental Contract for Employee Services. (per Attorney West 3/24/09) TCMUD 1 Page 2 of 55 Meeting Date: March 4, 2009 April 14, 2009Trophy Club Municipal Utility District No. 1 Meeting Agenda 18. 09-62-M1 Set Next Meeting Date a. Tuesday, May 12, 2009, 5:00 p.m. May Calendar.pdfAttachments: CONVENE INTO CLOSED SESSION *CLOSED SESSION Pursuant to Section 551.071 (a) & (b) of the Texas Government Code regarding consultations with attorney, to conduct a private consultation with the district's attorney on a matter in which the duty of the attorney to the governmental body under the Texas disciplinary rules of professional conduct of the State Bar of Texas clearly conflicts with the Open Meetings Act regarding the following: A. Receive legal advice regarding Election and Ballot Issues. B. Receive legal advice regarding the bond issue. RECONVENE INTO REGULAR SESSION 19. 09-51-M1 Discuss and take appropriate action relative to discussions held during Closed Session. a. Election and Ballot Issues b. Pending and/or Contemplated Litigation c. Bond issue Adjourn Notice is hereby given that a quorum of the Town Council may be in attendance at this meeting. * THE BOARD RESERVES THE RIGHT TO ADJOURN INTO A CLOSED SESSION AT ANY TIME DURING THE MEETING FOR THE PURPOSE OF SEEKING THE ADVICE OF ITS ATTORNEY ABOUT ANY ITEM ON THE AGENDA OR THAT ARISES AT THE MEETING, PURSUANT TO SECTION 551.071 OF THE TEXAS GOVERNMENT CODE. TCMUD 1 Page 3 of 55 Meeting Date: March 4, 2009 Trophy Club Entities 100 Municipal Drive Trophy Club, TX 76262 File Number: 09-52-M1 File ID: Type: Status: 09-52-M1 M1 Agenda Item Regular Session 1Version: Reference: In Control: Trophy Club Municipal Utility District No. 1 03/25/2009File Created: Final Action: *File Name: Title: Discuss and take appropriate action regarding TexPool Bank Resolution, amending Authorized Representatives on signature accounts. Notes: With the hiring of our new Finance Director comes the necessity to update signatures on the TexPool account. Sponsors: Enactment Date: TexPoolResolution - Signatures-M1.pdfAttachments: Enactment Number: Hearing Date: Contact: Effective Date: *Entered by: mmoore@trophyclub.org History of Legislative File Action: Result: Return Date: Due Date: Sent To: Date: Acting Body: Ver- sion: 1 04/14/2009Trophy Club Municipal Utility District No. 1 Text of Legislative File 09-52-M1 Discuss and take appropriate action regarding TexPool Bank Resolution, amending Authorized Representatives on signature accounts. TCMUD 1 Page 4 of 55 Meeting Date: March 4, 2009 TCMUD 1 Page 5 of 55 Meeting Date: March 4, 2009 TCMUD 1 Page 6 of 55 Meeting Date: March 4, 2009 Trophy Club Entities 100 Municipal Drive Trophy Club, TX 76262 File Number: 09-53-M1 File ID: Type: Status: 09-53-M1 M1 Agenda Item Regular Session 1Version: Reference: In Control: Trophy Club Municipal Utility District No. 1 03/25/2009File Created: Final Action: *File Name: Title: Discuss and take appropriate action regarding First Financial Bank Resolution, amending Authorized Representatives on signature accounts. Notes: With the hiring of our new Finance Director comes the necessity to update signatures on the Firs Financial bank account. Sponsors: Enactment Date: 1stFinancialBankRes-M1.pdfAttachments: Enactment Number: Hearing Date: Contact: Effective Date: *Entered by: mmoore@trophyclub.org History of Legislative File Action: Result: Return Date: Due Date: Sent To: Date: Acting Body: Ver- sion: 1 04/14/2009Trophy Club Municipal Utility District No. 1 Text of Legislative File 09-53-M1 Discuss and take appropriate action regarding First Financial Bank Resolution, amending Authorized Representatives on signature accounts. TCMUD 1 Page 7 of 55 Meeting Date: March 4, 2009 TCMUD 1 Page 8 of 55 Meeting Date: March 4, 2009 TCMUD 1 Page 9 of 55 Meeting Date: March 4, 2009 Trophy Club Entities 100 Municipal Drive Trophy Club, TX 76262 File Number: 09-46-M1 File ID: Type: Status: 09-46-M1 M1 Agenda Item Regular Session 1Version: Reference: In Control: Trophy Club Municipal Utility District No. 1 03/23/2009File Created: Final Action: *File Name: Title: Discuss and take appropriate action regarding Amendment to the Information Form required by Section 49.455 of the Texas Water Code. Notes: Tabled from March 4th meeting to verify/correct Bond numbers. The purpose for this AMENDMENT is to comply with Section 49.455 of the Texas Water Code. When information about the District changes from whatever has been previously filed, such as the tax rate, an Amendment is required. Since the tax rate changed in MUD1 in September, there is a need to file an AMENDMENT. Sponsors: Enactment Date: Attachments: Enactment Number: Hearing Date: Contact: Effective Date: *Entered by: mmoore@trophyclub.org History of Legislative File Action: Result: Return Date: Due Date: Sent To: Date: Acting Body: Ver- sion: 1 04/14/2009Trophy Club Municipal Utility District No. 1 Text of Legislative File 09-46-M1 Discuss and take appropriate action regarding Amendment to the Information Form required by Section 49.455 of the Texas Water Code. TCMUD 1 Page 10 of 55 Meeting Date: March 4, 2009 Trophy Club Entities 100 Municipal Drive Trophy Club, TX 76262 File Number: 09-45-M1 File ID: Type: Status: 09-45-M1 M1 Agenda Item Regular Session 1Version: Reference: In Control: Trophy Club Municipal Utility District No. 1 03/23/2009File Created: Final Action: *File Name: Title: Discuss and take appropriate action concerning Payment Agreement and related promissory notes between Trophy Club MUD 1 and Trophy Club MUD 2 addressing funding for New Fire Station. Notes: Tabled from March 4th, 2009 mtg. Both MUD 2 and Master District have approved unanimously. Sponsors: Enactment Date: MUD2 Note 200k March0409.pdf ,MUD2 Note 86250March0409.pdf ,MUD2 Note 154k March0409.pdf ,MUD2 Note-Furniture030409.pdf Attachments: Enactment Number: Hearing Date: Contact: Effective Date: *Entered by: mmoore@trophyclub.org History of Legislative File Action: Result: Return Date: Due Date: Sent To: Date: Acting Body: Ver- sion: 1 04/14/2009Trophy Club Municipal Utility District No. 1 Text of Legislative File 09-45-M1 Discuss and take appropriate action concerning Payment Agreement and related promissory notes between Trophy Club MUD 1 and Trophy Club MUD 2 addressing funding for New Fire Station. TCMUD 1 Page 11 of 55 Meeting Date: March 4, 2009 1 DRAFT AS OF 3/4/2009; SUBJECT TO ADJUSTMENT BASED ON FINAL ISSUE TERMS OF MUD1 BOND ISSUE AND ACTUAL COST OF CONSTRUCTING NEW MASTER DISTRICT FIRE STATION UNSECURED NOTE Date: March 4, 2009 Maker: TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 2 Maker's Mailing Address (including county): 100 Municipal Drive Trophy Club, TX 76262 (Denton County) Payee: TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1 Place for Payment (including county): 100 Municipal Drive Trophy Club, TX 76262 (Denton County) Principal Amount: TWO HUNDRED THOUSAND AND NO/100 DOLLARS ($200,000.00) Annual Interest Rate on Unpaid Principal Balance from Date of Funding: Five Percent (5%) Maturity Date: Twenty (20) years after the date of funding Annual Interest Rate on Matured Unpaid Amounts: Eighteen Percent (18%) Terms of Payment (principal and interest): The principal and accrued interest is payable in twenty (20) equal annual installments of $16,048.52 each over the twenty (20) year term of this note, with the first installment to be paid one year after the transfer to funds to Maker and the subsequent installments to be paid on the same day of each year thereafter until the balance is paid in full. Maker may prepay all or any part of the principal of this note before maturity without penalty, and interest shall immediately cease to accrue on any amount so prepaid. Maker promises to pay to the order of Payee at the place for payment and according to the terms of payment the principal amount plus interest at the rates stated above. All unpaid amounts shall be due by the final scheduled payment date. TCMUD 1 Page 12 of 55 Meeting Date: March 4, 2009 2 If Maker defaults in the payment of this note, and the default continues after Payee gives Maker notice of the default and the time within which it must be cured, as may be required by law or by written agreement, then Payee may declare the unpaid principal balance and earned interest on this note immediately due. Maker and each surety, endorser, and guarantor waive all demands for payment, presentations for payment, notices of intention to accelerate maturity, notices of acceleration of maturity, protests, and notices of protest, to the extent permitted by law. If this note is given to an attorney for collection, or if suit is brought for collection, or if it is collected through probate, bankruptcy, or other judicial proceeding, then Maker shall pay Payee all costs of collection, including reasonable attorney's fees and court costs, in addition to other amounts due. Reasonable attorney's fees shall be 10% of all amounts due unless either party pleads otherwise. Interest on the debt evidenced by this note shall not exceed the maximum amount of nonusurious interest that may be contracted for, taken, reserved, charged, or received under law; any interest in excess of that maximum amount shall be credited on the principal of the debt or, if that has been paid, refunded. On any acceleration or required or permitted prepayment, any such excess shall be canceled automatically as of the acceleration or prepayment or, if already paid, credited on the principal of the debt or, if the principal of the debt has been paid, refunded. This provision overrides other provisions in this and all other instruments concerning the debts. When the context requires, singular nouns and pronouns include the plural. TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 2 By: _______________________________________ JAMES BUDARF President of the Board of Directors ATTEST: ___________________________________________ JAMES THOMAS Secretary of the Board of Directors PREPARED IN THE OFFICE OF: Robert G. West, as attorney for TCMUD1 Whitaker, Chalk, Swindle & Sawyer, LLP 301 Commerce Street, Suite 3500 Fort Worth, TX 76102 (817) 878-0511 FAX (817) 335-6935 R:\Stor\RGW\MUD\FIREDEPT\MUD2 Note 200,000.doc TCMUD 1 Page 13 of 55 Meeting Date: March 4, 2009 1 UNSECURED NOTE Date: March 4, 2009 Maker: TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 2 Maker's Mailing Address (including county): 100 Municipal Drive Trophy Club, TX 76262 (Denton County) Payee: TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1 Place for Payment (including county): 100 Municipal Drive Trophy Club, TX 76262 (Denton County) Principal Amount: EIGHTY-SIX THOUSAND TWO HUNDRED FIFTY AND NO/100 DOLLARS ($86,250.00) Annual Interest Rate on Unpaid Principal Balance from Date of Funding: Five Percent (5%) Maturity Date: Five (5) years after the date of funding Annual Interest Rate on Matured Unpaid Amounts: Eighteen Percent (18%) Terms of Payment (principal and interest): The principal and accrued interest is payable in five (5) equal annual installments of $19,921.58 each over the five year term of this note, with the first installment to be paid one year after the transfer to funds to Maker and the subsequent installments to be paid on the same day of each year thereafter until the balance is paid in full. Maker may prepay all or any part of the principal of this note before maturity without penalty, and interest shall immediately cease to accrue on any amount so prepaid. Maker promises to pay to the order of Payee at the place for payment and according to the terms of payment the principal amount plus interest at the rates stated above. All unpaid amounts shall be due by the final scheduled payment date. TCMUD 1 Page 14 of 55 Meeting Date: March 4, 2009 2 If Maker defaults in the payment of this note, and the default continues after Payee gives Maker notice of the default and the time within which it must be cured, as may be required by law or by written agreement, then Payee may declare the unpaid principal balance and earned interest on this note immediately due. Maker and each surety, endorser, and guarantor waive all demands for payment, presentations for payment, notices of intention to accelerate maturity, notices of acceleration of maturity, protests, and notices of protest, to the extent permitted by law. If this note is given to an attorney for collection, or if suit is brought for collection, or if it is collected through probate, bankruptcy, or other judicial proceeding, then Maker shall pay Payee all costs of collection, including reasonable attorney's fees and court costs, in addition to other amounts due. Reasonable attorney's fees shall be 10% of all amounts due unless either party pleads otherwise. Interest on the debt evidenced by this note shall not exceed the maximum amount of nonusurious interest that may be contracted for, taken, reserved, charged, or received under law; any interest in excess of that maximum amount shall be credited on the principal of the debt or, if that has been paid, refunded. On any acceleration or required or permitted prepayment, any such excess shall be canceled automatically as of the acceleration or prepayment or, if already paid, credited on the principal of the debt or, if the principal of the debt has been paid, refunded. This provision overrides other provisions in this and all other instruments concerning the debts. When the context requires, singular nouns and pronouns include the plural. TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 2 By: _______________________________________ JAMES BUDARF President of the Board of Directors ATTEST: ___________________________________________ JAMES THOMAS Secretary of the Board of Directors PREPARED IN THE OFFICE OF: Robert G. West, as attorney for TCMUD1 Whitaker, Chalk, Swindle & Sawyer, LLP 301 Commerce Street, Suite 3500 Fort Worth, TX 76102 (817) 878-0511 FAX (817) 335-6935 R:\Stor\RGW\MUD\FIREDEPT\MUD2 Note 86,250.doc TCMUD 1 Page 15 of 55 Meeting Date: March 4, 2009 1 UNSECURED NOTE Date: March 4, 2009 Maker: TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 2 Maker's Mailing Address (including county): 100 Municipal Drive Trophy Club, TX 76262 (Denton County) Payee: TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1 Place for Payment (including county): 100 Municipal Drive Trophy Club, TX 76262 (Denton County) Principal Amount: ONE HUNDRED FIFTY-FOUR THOUSAND AND NO/100 DOLLARS ($154,000.00) Annual Interest Rate on Unpaid Principal Balance from Date of Funding: Five Percent (5%) Maturity Date: Five (5) years after the date of funding Annual Interest Rate on Matured Unpaid Amounts: Eighteen Percent (18%) Terms of Payment (principal and interest): The principal and accrued interest is payable in five (5) equal annual installments of $35,570.12 each over the five year term of this note, with the first installment to be paid one year after the transfer to funds to Maker and the subsequent installments to be paid on the same day of each year thereafter until the balance is paid in full. Maker may prepay all or any part of the principal of this note before maturity without penalty, and interest shall immediately cease to accrue on any amount so prepaid. Maker promises to pay to the order of Payee at the place for payment and according to the terms of payment the principal amount plus interest at the rates stated above. All unpaid amounts shall be due by the final scheduled payment date. TCMUD 1 Page 16 of 55 Meeting Date: March 4, 2009 2 If Maker defaults in the payment of this note, and the default continues after Payee gives Maker notice of the default and the time within which it must be cured, as may be required by law or by written agreement, then Payee may declare the unpaid principal balance and earned interest on this note immediately due. Maker and each surety, endorser, and guarantor waive all demands for payment, presentations for payment, notices of intention to accelerate maturity, notices of acceleration of maturity, protests, and notices of protest, to the extent permitted by law. If this note is given to an attorney for collection, or if suit is brought for collection, or if it is collected through probate, bankruptcy, or other judicial proceeding, then Maker shall pay Payee all costs of collection, including reasonable attorney's fees and court costs, in addition to other amounts due. Reasonable attorney's fees shall be 10% of all amounts due unless either party pleads otherwise. Interest on the debt evidenced by this note shall not exceed the maximum amount of nonusurious interest that may be contracted for, taken, reserved, charged, or received under law; any interest in excess of that maximum amount shall be credited on the principal of the debt or, if that has been paid, refunded. On any acceleration or required or permitted prepayment, any such excess shall be canceled automatically as of the acceleration or prepayment or, if already paid, credited on the principal of the debt or, if the principal of the debt has been paid, refunded. This provision overrides other provisions in this and all other instruments concerning the debts. When the context requires, singular nouns and pronouns include the plural. TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 2 By: _______________________________________ JAMES BUDARF President of the Board of Directors ATTEST: ___________________________________________ JAMES THOMAS Secretary of the Board of Directors PREPARED IN THE OFFICE OF: Robert G. West, as attorney for TCMUD1 Whitaker, Chalk, Swindle & Sawyer, LLP 301 Commerce Street, Suite 3500 Fort Worth, TX 76102 (817) 878-0511 FAX (817) 335-6935 R:\Stor\RGW\MUD\FIREDEPT\MUD2 Note 154,000.doc TCMUD 1 Page 17 of 55 Meeting Date: March 4, 2009 1 UNSECURED NOTE Date: March 4, 2009 Maker: TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 2 Maker's Mailing Address (including county): 100 Municipal Drive Trophy Club, TX 76262 (Denton County) Payee: TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1 Place for Payment (including county): 100 Municipal Drive Trophy Club, TX 76262 (Denton County) Principal Amount: FORTY-TWO THOUSAND FIVE HUNDRED AND NO/100 DOLLARS ($42,500.00), or one-half (1/2) of the contractual obligation issued by Payee for the purchase of furniture for the New Master District Fire Station as described in the Second Amendment to Trophy Club Fire Department Contract dated and effective as of February 20, 2009, between Maker and Payee (the “Contractual Obligation”), whichever is less. Annual Interest Rate on Unpaid Principal Balance from Date of Funding: Equal to the interest rate on the Contractual Obligation Maturity Date: Three (3) years after the date of funding of the Contractual Obligation Annual Interest Rate on Matured Unpaid Amounts: Eighteen Percent (18%) Terms of Payment (principal and interest): The principal and accrued interest is payable in installments over a three (3) year period in an amount equal to exactly one-half (1/2) of the periodic debt payments required to be made by Payee to the holder of the Contractual Obligation, and the installments to be paid by Maker to Payee are due on the same date as the payments are due from Payee to the holder of the Contractual Obligation. The annual debt payments to be made by Payee to the holder of the Contractual Obligation are estimated to be $31,213 per annum, so the annual debt payments to TCMUD 1 Page 18 of 55 Meeting Date: March 4, 2009 2 be made by Maker to Payee are estimated to be $15,606.50 per annum. Maker may prepay all or any part of the principal of this note before maturity without penalty, and interest shall immediately cease to accrue on any amount so prepaid. Maker promises to pay to the order of Payee at the place for payment and according to the terms of payment the principal amount plus interest at the rates stated above. All unpaid amounts shall be due by the final scheduled payment date. If Maker defaults in the payment of this note, and the default continues after Payee gives Maker notice of the default and the time within which it must be cured, as may be required by law or by written agreement, then Payee may declare the unpaid principal balance and earned interest on this note immediately due. Maker and each surety, endorser, and guarantor waive all demands for payment, presentations for payment, notices of intention to accelerate maturity, notices of acceleration of maturity, protests, and notices of protest, to the extent permitted by law. If this note is given to an attorney for collection, or if suit is brought for collection, or if it is collected through probate, bankruptcy, or other judicial proceeding, then Maker shall pay Payee all costs of collection, including reasonable attorney's fees and court costs, in addition to other amounts due. Reasonable attorney's fees shall be 10% of all amounts due unless either party pleads otherwise. Interest on the debt evidenced by this note shall not exceed the maximum amount of nonusurious interest that may be contracted for, taken, reserved, charged, or received under law; any interest in excess of that maximum amount shall be credited on the principal of the debt or, if that has been paid, refunded. On any acceleration or required or permitted prepayment, any such excess shall be canceled automatically as of the acceleration or prepayment or, if already paid, credited on the principal of the debt or, if the principal of the debt has been paid, refunded. This provision overrides other provisions in this and all other instruments concerning the debts. When the context requires, singular nouns and pronouns include the plural. TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 2 By: _______________________________________ JAMES BUDARF President of the Board of Directors ATTEST: ___________________________________________ JAMES THOMAS Secretary of the Board of Directors TCMUD 1 Page 19 of 55 Meeting Date: March 4, 2009 PREPARED IN THE OFFICE OF: Robert G. West, as attorney for TCMUD1 Whitaker, Chalk, Swindle & Sawyer, LLP 301 Commerce Street, Suite 3500 Fort Worth, TX 76102 (817) 878-0511 FAX (817) 335-6935 R:\Stor\RGW\MUD\FIREDEPT\MUD2 Note - Furniture CO.doc TCMUD 1 Page 20 of 55 Meeting Date: March 4, 2009 Trophy Club Entities 100 Municipal Drive Trophy Club, TX 76262 File Number: 09-57-M1 File ID: Type: Status: 09-57-M1 M1 Agenda Item Regular Session 1Version: Reference: In Control: Trophy Club Municipal Utility District No. 1 03/30/2009File Created: Final Action: *File Name: Title: Discuss and take appropriate action concerning the bond issue for the New Fire Station. Notes: Sponsors: Enactment Date: Timetable_Comp Sale.pdfAttachments: Enactment Number: Hearing Date: Contact: Effective Date: *Entered by: mmoore@trophyclub.org History of Legislative File Action: Result: Return Date: Due Date: Sent To: Date: Acting Body: Ver- sion: 1 04/14/2009Trophy Club Municipal Utility District No. 1 Text of Legislative File 09-57-M1 Discuss and take appropriate action concerning the bond issue for the New Fire Station. TCMUD 1 Page 21 of 55 Meeting Date: March 4, 2009 TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO.1 $___________ UNLIMITED TAX BONDS, SERIES 2009 Tentative Timetable March 30, 2009 Proposed Date Action 03-19-09 (Th) Southwest Securities (SWS) distributes timetable to District for review/approval 04-21-09 (T) Anticipated date of receipt of TCEQ Commission Order approving application 04-22-09 (W) SWS submits Request for Information (RFI) to District officials 05-04-09 (M) SWS to receive requested information from the District and commence preparation of Preliminary Official Statement (POS) and Notice of Sale (NOS) 05-06-09 (W) SWS to submit draft of POS/NOS to District and Bond Counsel for review and comments 05-12-09 (T) Regular Board of Directors meeting to authorize Southwest Securities and Bond Counsel to proceed with the issuance process, and authorize publication of Notice of Sale (NOS) in the local papers and industry publication (6:00 pm) 05-13-09 (W) SWS to receive comments on POS/NOS from all parties 05-15-09 (F) Submit POS/NOS and financing documents to Moody’s / S&P rating agencies and bond insurance providers for underlying ratings and qualification for insurance 05-19-09 (T) SWS submits information to Municipal Advisory Council for publication in Texas Bond Reporter Calendar and Conditions of Competitive Sales, and additional paid advertising of NOS to appear in 05-22-09 issue. 05-19-09 (T) District to submit NOS to local newspaper (_________________) for publication on 05-21-09 w/o 5-18 or 5-25 Arrange rating conference calls with Moody’s and S&P. 05-28-09 (Th) Release POS/NOS for electronic distribution to potential bidders via the Internet and post POS/NOS to SWS website 05-29-09 (F) SWS to arrange for competitive bidding over the Internet using the “I-Deal LLC Parity” bidding program. SWS to order CUSIP numbers 06-03-09 (W) Receive Underlying Ratings and Notice of Qualification for Insurance. 06-04-09 (Th) Receive electronic bids for the Bonds (11:00 am) via Internet and the “i-Deal LLC PARITY” bidding program 06-04-09 (Th) Special Board of Directors meeting to review bids and adopt the Resolution authorizing the sale of the Bonds (5:00 pm) 06-10-09 (W) Submit transcript of proceedings to Attorney General for approval 06-11-09 (Th) Print and mail Final Official Statement (OS) and post Final OS to SWS website 06-30-09 (T) SWS to notify all parties of closing/delivery instructions 07-07-09 (T) Payment for and delivery of the Bonds __________ Note: Bold entries indicate dates/actions that require District involvement. TCMUD 1 Page 22 of 55 Meeting Date: March 4, 2009 Trophy Club Entities 100 Municipal Drive Trophy Club, TX 76262 File Number: 09-59-M1 File ID: Type: Status: 09-59-M1 M1 Agenda Item Regular Session 1Version: Reference: In Control: Trophy Club Municipal Utility District No. 1 04/03/2009File Created: Final Action: *File Name: Title: Discuss and take appropriate action concerning MUD 1’s financial situation. Notes: Sponsors: Enactment Date: Attachments: Enactment Number: Hearing Date: Contact: Effective Date: *Entered by: mmoore@trophyclub.org History of Legislative File Action: Result: Return Date: Due Date: Sent To: Date: Acting Body: Ver- sion: 1 04/14/2009Trophy Club Municipal Utility District No. 1 Text of Legislative File 09-59-M1 Discuss and take appropriate action concerning MUD 1’s financial situation. TCMUD 1 Page 23 of 55 Meeting Date: March 4, 2009 Trophy Club Entities 100 Municipal Drive Trophy Club, TX 76262 File Number: 09-60-M1 File ID: Type: Status: 09-60-M1 M1 Agenda Item Regular Session 1Version: Reference: In Control: Trophy Club Municipal Utility District No. 1 04/07/2009File Created: Final Action: *File Name: Title: Discuss and take appropriate action concerning the Town's plan to absorb MUD 2. Notes: This is in response to Town Council Agenda on 4/6/09 addressing this issue. Sponsors: Enactment Date: Town Plan for Dissolution of MUD 2.pdfAttachments: Enactment Number: Hearing Date: Contact: Effective Date: *Entered by: mmoore@trophyclub.org History of Legislative File Action: Result: Return Date: Due Date: Sent To: Date: Acting Body: Ver- sion: 1 04/14/2009Trophy Club Municipal Utility District No. 1 Text of Legislative File 09-60-M1 Discuss and take appropriate action concerning the Town's plan to absorb MUD 2. TCMUD 1 Page 24 of 55 Meeting Date: March 4, 2009 Town PlanApril 6, 2009TCMUD 1Page 25 of 55Meeting Date: March 4, 2009 Why?In the McLain report, it is stated that “at a minimum the MUDs should merge into one MUD” but the “Best overall solution that would benefit the Trophy Club Entities as a whole should be to dissolve the MUDs and let the Town run all of the utility operations.”The Town Plan is a step towards the “Best overall solution.”TCMUD 1Page 26 of 55Meeting Date: March 4, 2009 How will the Town Plan Affect MUD 1 Residents• There will be no impact on MUD 1 as a result of the Town dissolving MUD 2. • Solana revenue remains intact. –There is NO revenue lossTCMUD 1Page 27 of 55Meeting Date: March 4, 2009 How will the Town Plan Affect MUD 2 Residents• Residents of MUD 2 will pay the same or less than today. TCMUD 1Page 28 of 55Meeting Date: March 4, 2009 What is the impact on mud2 residents?Fire TaxThe Town will create a Fire District to fund the Fire Department. Debt ServiceDebt Service will be paid by the residents water and sewer rates. TCMUD 1Page 29 of 55Meeting Date: March 4, 2009 Water Rates • 1646 MUD 2 and PID Customers• Average use is 16,500 gallons per month• Increase needed is approximately $2.10 per 1000 gallons, or approximately $35 per month per customer.• There will be a 100% reduction in MUD taxes, averaging $35 per month per customer• Net result is no additional costsTCMUD 1Page 30 of 55Meeting Date: March 4, 2009 PID Fees• PID fees will be used towards the Fire Station until 2011– Same use of funds as proposed in consolidation• Starting in 2012, PID fees will offset the debt service– This will allow for the reduction in the water rate• Starting in 2014, the existing MUD 2 debt will be reduced as a result of the current bond repayment schedules– This will allow for a further reduction in the water rateTCMUD 1Page 31 of 55Meeting Date: March 4, 2009 Steps after Implementation of the Plan• All assets of MUD 2 will be absorbed into the Town’s operations. • All Contracts between the Town and MUD 1 will remain in force for utilities.• The Master District Contract will be terminated as a result of the Amendment approved by MUD 1 and MUD 2 on January 7, 2009• The Town will renegotiate an Employee Services Agreement with MUD 1 if desired by both parties.• The Town will create a Fire District to collect the “fire tax” without impacting MUD 1.• The Town will collect the former MUD2 debt service obligation thru the water and sewer rates.TCMUD 1Page 32 of 55Meeting Date: March 4, 2009 Conclusion• No REDISTRIBUTION of current obligations to either MUD 1 or MUD 2• Reduction in our current Complex Governmental Structure– Town– MUD 1––– MUD 2MUD 2MUD 2––– Master DistrictMaster DistrictMaster DistrictTCMUD 1Page 33 of 55Meeting Date: March 4, 2009 TCMUD 1Page 34 of 55Meeting Date: March 4, 2009 Trophy Club Entities 100 Municipal Drive Trophy Club, TX 76262 File Number: 09-50-M1 File ID: Type: Status: 09-50-M1 M1 Agenda Item Regular Session 1Version: Reference: In Control: Trophy Club Municipal Utility District No. 1 03/25/2009File Created: Final Action: *File Name: Title: Discuss and take appropriate action to authorize the publication and distribution of factual information to residents relative to the election and/or consolidation to include the possibility of a Trophy Club MUD website. Notes: Sponsors: Enactment Date: Attachments: Enactment Number: Hearing Date: Contact: Effective Date: *Entered by: mmoore@trophyclub.org History of Legislative File Action: Result: Return Date: Due Date: Sent To: Date: Acting Body: Ver- sion: 1 04/14/2009Trophy Club Municipal Utility District No. 1 Text of Legislative File 09-50-M1 Discuss and take appropriate action to authorize the publication and distribution of factual information to residents relative to the election and/or consolidation to include the possibility of a Trophy Club MUD website. TCMUD 1 Page 35 of 55 Meeting Date: March 4, 2009 Trophy Club Entities 100 Municipal Drive Trophy Club, TX 76262 File Number: 09-54-M1 File ID: Type: Status: 09-54-M1 M1 Agenda Item Regular Session 1Version: Reference: In Control: Trophy Club Municipal Utility District No. 1 03/26/2009File Created: Final Action: *File Name: Title: Discuss and take action to schedule MUD 1 Town Hall meeting(s). Notes: Sponsors: Enactment Date: Attachments: Enactment Number: Hearing Date: Contact: Effective Date: *Entered by: mmoore@trophyclub.org History of Legislative File Action: Result: Return Date: Due Date: Sent To: Date: Acting Body: Ver- sion: 1 04/14/2009Trophy Club Municipal Utility District No. 1 Text of Legislative File 09-54-M1 Discuss and take action to schedule MUD 1 Town Hall meeting(s). TCMUD 1 Page 36 of 55 Meeting Date: March 4, 2009 Trophy Club Entities 100 Municipal Drive Trophy Club, TX 76262 File Number: 09-55-M1 File ID: Type: Status: 09-55-M1 M1 Agenda Item Regular Session 1Version: Reference: In Control: Trophy Club Municipal Utility District No. 1 03/27/2009File Created: Final Action: *File Name: Title: Discuss and take appropriate action regarding possible effects on other contracts if the Master District is terminated. Notes: Attorney West to address, as necessary. Sponsors: Enactment Date: Attachments: Enactment Number: Hearing Date: Contact: Effective Date: *Entered by: mmoore@trophyclub.org History of Legislative File Action: Result: Return Date: Due Date: Sent To: Date: Acting Body: Ver- sion: 1 04/14/2009Trophy Club Municipal Utility District No. 1 Text of Legislative File 09-55-M1 Discuss and take appropriate action regarding possible effects on other contracts if the Master District is terminated. TCMUD 1 Page 37 of 55 Meeting Date: March 4, 2009 Trophy Club Entities 100 Municipal Drive Trophy Club, TX 76262 File Number: 09-37-M1 File ID: Type: Status: 09-37-M1 M1 Agenda Item Regular Session 1Version: Reference: In Control: Trophy Club Municipal Utility District No. 1 02/23/2009File Created: Final Action: *File Name: Title: Receive Finance Director's Report a. Monthly Update Notes: Sponsors: Enactment Date: Attachments: Enactment Number: Hearing Date: Contact: Effective Date: *Entered by: mmoore@trophyclub.org History of Legislative File Action: Result: Return Date: Due Date: Sent To: Date: Acting Body: Ver- sion: 1 Discussion only - No action taken 03/04/2009Trophy Club Municipal Utility District No. 1 1 04/14/2009Trophy Club Municipal Utility District No. 1 Text of Legislative File 09-37-M1 Receive Finance Director's Report a. Monthly Update TCMUD 1 Page 38 of 55 Meeting Date: March 4, 2009 Trophy Club Entities 100 Municipal Drive Trophy Club, TX 76262 File Number: 09-28-M1 File ID: Type: Status: 09-28-M1 M1 Agenda Item Regular Session 1Version: Reference: In Control: Trophy Club Municipal Utility District No. 1 02/23/2009File Created: Final Action: *File Name: Title: Receive Town of Trophy Club Update a. Director White to provide update from attending recent Town Council meetings. Notes: Sponsors: Enactment Date: Attachments: Enactment Number: Hearing Date: Contact: Effective Date: *Entered by: mmoore@trophyclub.org History of Legislative File Action: Result: Return Date: Due Date: Sent To: Date: Acting Body: Ver- sion: 1 Discussion only - No action taken 03/04/2009Trophy Club Municipal Utility District No. 1 1 04/14/2009Trophy Club Municipal Utility District No. 1 Text of Legislative File 09-28-M1 Receive Town of Trophy Club Update a. Director White to provide update from attending recent Town Council meetings. TCMUD 1 Page 39 of 55 Meeting Date: March 4, 2009 Trophy Club Entities 100 Municipal Drive Trophy Club, TX 76262 File Number: 09-29-M1 File ID: Type: Status: 09-29-M1 M1 Agenda Item Regular Session 1Version: Reference: In Control: Trophy Club Municipal Utility District No. 1 02/23/2009File Created: Final Action: *File Name: Title: Receive Town of Westlake Update a. Director Cantrell to provide Board with an update from meetings held with Town of Westlake. Notes: Sponsors: Enactment Date: Attachments: Enactment Number: Hearing Date: Contact: Effective Date: *Entered by: mmoore@trophyclub.org History of Legislative File Action: Result: Return Date: Due Date: Sent To: Date: Acting Body: Ver- sion: 1 Discussion only - No action taken 03/04/2009Trophy Club Municipal Utility District No. 1 1 04/14/2009Trophy Club Municipal Utility District No. 1 Text of Legislative File 09-29-M1 Receive Town of Westlake Update a. Director Cantrell to provide Board with an update from meetings held with Town of Westlake. TCMUD 1 Page 40 of 55 Meeting Date: March 4, 2009 Trophy Club Entities 100 Municipal Drive Trophy Club, TX 76262 File Number: 09-47-M1 File ID: Type: Status: 09-47-M1 M1 Agenda Item Regular Session 1Version: Reference: In Control: Trophy Club Municipal Utility District No. 1 03/23/2009File Created: Final Action: *File Name: Title: Review and Approve Minutes a. March 4, 2009 - Regular Session Notes: Sponsors: Enactment Date: M1 Minutes 030409.pdfAttachments: Enactment Number: Hearing Date: Contact: Effective Date: *Entered by: mmoore@trophyclub.org History of Legislative File Action: Result: Return Date: Due Date: Sent To: Date: Acting Body: Ver- sion: 1 04/14/2009Trophy Club Municipal Utility District No. 1 Text of Legislative File 09-47-M1 Review and Approve Minutes a. March 4, 2009 - Regular Session TCMUD 1 Page 41 of 55 Meeting Date: March 4, 2009 MINUTES OF REGULAR SESSION TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1 MARCH 4, 2009 The Board of Directors of the Trophy Club Municipal Utility District No. 1 of Denton and Tarrant Counties met in Regular Session on Wednesday, March 4, 2009, in the Boardroom of the Administration Building, 100 Municipal Drive, Trophy Club, Texas 76262. DIRECTORS PRESENT: Dean Henry President Gary Cantrell Vice President Connie White Secretary/Treasurer Jim Hase Asst. Secretary/Treasurer Neil Twomey Director STAFF AND GUESTS PRESENT: Robert Scott District Manager Mary Moore MUD Secretary Danny Thomas Fire Chief Bob West MUD 1 Attorney Bruce James MUD 1 Attorney Steven Kohs MUD 2 Director James C. Thomas MUD 2 Secretary/Treasurer Bill Rose 219 Inverness Drive Bob Radder 1 Lee Court Peggy Sweeney 51 Meadowbrook Drive Bill Armstrong 18 Avenue 20 REGULAR SESSION Call to Order and Announce a Quorum. President Henry announced a quorum and called the meeting to order at 5:07 p.m. Citizen Presentations. Bill Armstrong – 18 Avenue 20 – MUD 1 Resident – addressed the Board regarding the MUD Consolidation and the Town taking over MUD 2. Armstrong requested information be submitted to the residents regarding the Consolidation. 1. Discuss and take appropriate action regarding acceptance of the 2007-2008 fiscal year-end financial audit for Trophy Club Municipal Utility District No. 1. Director Twomey moved to accept the 2007-2008 Fiscal Year-End Financial Audit. Director Hase seconded the motion. Floor opened for discussion. Motion carried unanimously. 2. Discuss and take appropriate action regarding clarification of assets for 2008-2009 fiscal year audit. Director Hase stated for several years there has been a discrepancy with regard to division of ownership of certain items (Water Plant Wells, Elevated Tank and the Administration Building) in past audits. Director Twomey suggested bringing this agenda item back when MUDs 1 and 2 have a joint meeting. TCMUD 1 Page 42 of 55 Meeting Date: March 4, 2009 Action: Agenda item referred to Items for Future Agendas. 3. Discuss and take appropriate action concerning results of court hearing and status of Cause No. 2009-40021-362, Trophy Club Municipal Utility District No. 2 versus Town of Trophy Club, Texas. Attorney West provided an update, advising that the Judge McFarling ruled that both sides should proceed with their election, and the Judge dropped the temporary injunction against the Town. Discussion held with no action. Action: None 4. Discuss and take appropriate action regarding the May 9, 2009 consolidation election, ballot, and proposition. Discussion held with no action. Action: None 5. Discuss and take appropriate action regarding amending the Order calling the May 9, 2009 Consolidation Election. Supplement Agenda: 1. Consider and act upon adopting an Amended and Restated Order Calling Consolidation Election concerning the District's May 9, 2009, Consolidation Election. Attorney West advised that an initial Order Calling Consolidation Election was completed as a result of the January 26, 2009 Joint Session Meeting. Since then some of the details need to be revised to reflect the Joint Election Order, which is the reason for Amended/Modified Order Calling a Consolidation Election. Director Cantrell moved to adopt and approve the Amended-Restated Order Calling the May 9, 2009 Consolidation Election. Director Twomey seconded the motion. Floor opened for discussion. Director Hase states it is going to be a complicated ballot. In the past, we have had two ballot tables, one is for MUD 1 and one is for MUD 2. Hase recommends voting one time. West advised that is contrary to advice from Bond Attorneys and the Attorney General. West advised it is going to take a lot of public education. The recommendation is to have three tables; one table for MUD 1 Consolidation; one table for MUD 2 Consolidation; and one table for all remaining Town/School issues for Early Voting/Regular Voting. Motion carried unanimously. 6. Discuss and take appropriate action regarding possible effects on other contracts if the Master District is terminated. Attorney West advised his analysis is complete and further discussions should be held in closed session. Director Twomey recommended tabling to next month’s agenda. Action: Tabled to April agenda. TCMUD 1 Page 43 of 55 Meeting Date: March 4, 2009 7. Discuss and take appropriate action concerning Payment Agreement and related promissory notes between Trophy Club MUD 1 and Trophy Club MUD 2 addressing funding for New Fire Station. Attorney West advised he has drafted some promissory notes, which confirm the amounts that MUD 2 is required to pay MUD 1 for their portion of the New Fire Station. President Henry recommended tabling to next month and to distribute the notes to the Board for their review prior to next month’s meeting. Action: Tabled to April agenda. 8. Discuss and take appropriate action regarding a Resolution nominating Neil Twomey as Trustee for AWBD (Association of Water Board Directors). Director Henry moved to nominate Neil Twomey as Trustee for AWBD and to approve Resolution 2009-0304. Director White seconded the motion. Motion carried unanimously. 9. Discuss and take appropriate action regarding amendment of New Intergovernmental Contract for Employee Services. No update at this time, to be carried forward until resolved. Action: Tabled to April meeting. 10. Discuss and take appropriate action regarding Amendment to the Information Form required by Section 49.455 of the Texas Water Code. Attorney West advised that at the last meeting that this Form was voted on and approved; however, the form did not include all the necessary bond information. The Amendment has been updated by Attorney West, and requires the Board’s action. Director Hase moved to approve the Amendment to the Information Form. Director Twomey seconded the motion. Floor opened for discussion. Board recommended tabling to April meeting. Motion died. Action: Tabled to April meeting. 11. Receive District Manager's Report a. TCEQ Bond Application letter b. Finance Director Position District Manager Scott advised the Board of the above updates. Attorney West reported that TCEQ is current on their bond applications, which means we should hear something from TCEQ in less than 60 days. 12. Receive Finance Director's Report a. Monthly Update No one was present to provide the Board with a monthly update. 13. Receive Consolidation Task Force Committee Update a. Receive and discuss update on Consolidation Task Force's last committee meeting. Director Hase advised that the Task Force issued their final report on February 17, 2009, and believes they have completed their task. TCMUD 1 Page 44 of 55 Meeting Date: March 4, 2009 Mr. Bob Radder addressed the Board, and asked if he and others could receive a hard copy of the whole report. Director White advised that the reports are scheduled to be posted to the web. Director Cantrell advised he would provide Mr. Radder with a copy of the Consolidation Task Force meeting minutes as well as the report. Mr. Bob Radder asked if the emails that went back and forth between the Consolidation Task Force Committee Members would be available through an Open Records Request. Attorney West advised that he believes the emails should be available through Open Records Request. 14. Receive Town of Trophy Club Update a. Director White to provide update from attending recent Town Council meetings. Director White updated the Board, advising that the Town voted to take over MUD 2, subject to referendum. Also, the Town had a Budget Workshop on Sunday, and advised they have a shortfall of approximately $560,000 on a 6-month $2 million budget, mainly due to PID-related expenses. Director White attended a meeting with the Mayor and Town Manager Emmons to address their questions/concerns regarding the Consolidation Task Force models and report, and believes she was successful. Director Cantrell asked the Board to review last night’s meeting, which is available to view online via Google video or via the Trophy Club website. 15. Receive Town of Westlake Update a. Director Cantrell to provide Board with an update from meetings held with Town of Westlake. Director Cantrell asked to speak to this in Closed Session to seek advice from the attorney. Discussion held in Closed Session with no action. 16. Review and Approve Minutes a. January 26, 2009 (Special Session) b. February 2, 2009 (Special Joint Session) c. February 4, 2009 (Regular Session) d. February 17, 2009 (Special Session) Director Henry moved to approve the January 26, February 2, February 4, and February 17, 2009 minutes, with attachments. Director Cantrell seconded the motion. Floor opened for discussion. Motion carried unanimously. 17. Review and Approve Disbursements & Variance Report a. December 2008 b. January 2009 Director Cantrell commented that he is very disappointed in the increased audit expense which is 125% of the budgeted amount, adding he would like an explanation from the Auditors. Director Twomey advised that we still have one year left on our contract with current auditors. TCMUD 1 Page 45 of 55 Meeting Date: March 4, 2009 Director Twomey moved to approve both the December 2008 and the January 2009 disbursements and variance reports. Director Hase seconded the motion. Motion carried unanimously. 18. Monthly Tax Collection Report a. January 2009 Board reviewed the January 2009 Collection Report; no action required. 19. Next Meeting Date a. Tuesday, April 7, 2009 at 6 p.m. Board agreed to meet on Tuesday, April 7, 2009 at 6:00 p.m. 20. Items for Future Agendas a. Further review of McLain's study relating to organizational costs for MUD 1. b. Develop a checklist with regard to election/ballot language for consolidation. c. Research ramifications should Town take over MUD 2. (12/08) Board agreed to delete a and b, and keep c. Agenda Item 2 was added to Items for Future Agendas: Discuss and take appropriate action regarding clarification of assets for 2008-2009 fiscal year audit. (Joint meeting with MUD 2) MUNICIPAL UTILITY DISTRICT 1 TO CONVENE INTO CLOSED SESSION Board convened into Closed Session at 6:12 p.m. CLOSED SESSION 21. MUD1 President Dean Henry announced that the Board would convene into closed session pursuant to Section 551.071 of the Texas Government Code regarding consultations with attorney: to conduct a private consultation with the District’s Attorney on a matter of pending or contemplated litigation and/or a settlement offer regarding same: Declaratory Action, Temporary Restraining Order, and Temporary and Permanent Injunction Proceedings pending in Denton County in Cause No. 2009-40021-362 against the Town of Trophy Club, Texas. MUNICIPAL UTILITY DISTRICT 1 TO RECONVENE INTO OPEN/REGULAR SESSION Board reconvened into Open/Regular Session at 7:08 p.m. 22. Discuss and take appropriate action relative to discussions held in Closed Session. Discussion held with no action. Action: No action taken. TCMUD 1 Page 46 of 55 Meeting Date: March 4, 2009 MUD 1 Minutes March 4, 2009 – Regular Session 6 Adjourn. Meeting adjourned at 7:08 p.m. _________________________________ Dean Henry, President (SEAL) ____________________________________ Constance S. White, Secretary/Treasurer ______________________________________ Mary Moore, MUD Secretary TCMUD 1 Page 47 of 55 Meeting Date: March 4, 2009 Trophy Club Entities 100 Municipal Drive Trophy Club, TX 76262 File Number: 09-48-M1 File ID: Type: Status: 09-48-M1 M1 Agenda Item Regular Session 1Version: Reference: In Control: Trophy Club Municipal Utility District No. 1 03/23/2009File Created: Final Action: *File Name: Title: Review and Approve Disbursements & Variance Report a. February 2009 Notes: Sponsors: Enactment Date: M1 Feb-09 Variance Report.pdfAttachments: Enactment Number: Hearing Date: Contact: Effective Date: *Entered by: mmoore@trophyclub.org History of Legislative File Action: Result: Return Date: Due Date: Sent To: Date: Acting Body: Ver- sion: 1 04/14/2009Trophy Club Municipal Utility District No. 1 Text of Legislative File 09-48-M1 Review and Approve Disbursements & Variance Report a. February 2009 TCMUD 1 Page 48 of 55 Meeting Date: March 4, 2009 BUDGET VARIANCE REPORT FUND:132 - MUD 1 O&M FINANCIALS MONTH:February 2009 REVENUE VARIANCE:33% EXPENSE VARIANCE:50% NOTE:Explanation provided for all accounts with a Year-To-Date percentage (YTD%) less than the Revenue Variance and greater than or equal to the Expense Variance. The Revenue and Expense Variance is calculated on a straight-line method (Financials Month x 8.3%), less 8.3% for revenues and plus 8.3% for expenses. All variances over $1000 will be addressed. ACCOUNT DESCRIPTION TOTAL BUDGET CURRENT MONTH YTD TOTAL YTD % VARIANCE EXPLANATION REVENUE 132-48005-000-000 Utility Fees (86,250)$ (8,625)$ (24,725)$ 29%Based on development. EXPENSE 132-50005-050-000 Salaries & Wages 9,200$ 1,900$ 5,700$ 62%Increase due to additional meetings scheduled/attended. 132-55045-050-000 Legal 10,800$ 25,633$ 32,257$ 299%Increase due to increased requests & meetings of attorney. 132-55055-050-000 Auditing 12,989$ -$ 16,250$ 125%Progress payments to Weaver & Tidwell. Will reallocate based on total hours spent. 132-60115-050-000 Elections -$ -$ 2,803$ -May 2009 joint election. 132-60345-050-000 Intergov Trans Out (Fire Dept)607,148$ -$ 571,027$ 94%Transfer to Fire Construction account. TCMUD 1 Page 49 of 55 Meeting Date: March 4, 2009 Trophy Club Entities 100 Municipal Drive Trophy Club, TX 76262 File Number: 09-56-M1 File ID: Type: Status: 09-56-M1 M1 Agenda Item Regular Session 1Version: Reference: In Control: Trophy Club Municipal Utility District No. 1 03/27/2009File Created: Final Action: *File Name: Title: Review Monthly Tax Collection Report a. February 2009 Notes: Sponsors: Enactment Date: M1 TaxCollectionReport Feb09.pdfAttachments: Enactment Number: Hearing Date: Contact: Effective Date: *Entered by: mmoore@trophyclub.org History of Legislative File Action: Result: Return Date: Due Date: Sent To: Date: Acting Body: Ver- sion: 1 04/14/2009Trophy Club Municipal Utility District No. 1 Text of Legislative File 09-56-M1 Review Monthly Tax Collection Report a. February 2009 TCMUD 1 Page 50 of 55 Meeting Date: March 4, 2009 TCMUD 1 Page 51 of 55 Meeting Date: March 4, 2009 Trophy Club Entities 100 Municipal Drive Trophy Club, TX 76262 File Number: 09-61-M1 File ID: Type: Status: 09-61-M1 M1 Agenda Item Regular Session 1Version: Reference: In Control: Trophy Club Municipal Utility District No. 1 04/08/2009File Created: Final Action: *File Name: Title: Items for Future Agendas a. Research ramifications should Town take over MUD 2. (12/08) b. Clarification of assets for 2008-2009 fiscal year audit. (Joint meeting with MUD 2) c. Amendment of New Intergovernmental Contract for Employee Services. (per Attorney West 3/24/09) Notes: Sponsors: Enactment Date: Attachments: Enactment Number: Hearing Date: Contact: Effective Date: *Entered by: mmoore@trophyclub.org History of Legislative File Action: Result: Return Date: Due Date: Sent To: Date: Acting Body: Ver- sion: 1 04/14/2009Trophy Club Municipal Utility District No. 1 Text of Legislative File 09-61-M1 Items for Future Agendas a. Research ramifications should Town take over MUD 2. (12/08) b. Clarification of assets for 2008-2009 fiscal year audit. (Joint meeting with MUD 2) c. Amendment of New Intergovernmental Contract for Employee Services. (per Attorney West 3/24/09) TCMUD 1 Page 52 of 55 Meeting Date: March 4, 2009 Trophy Club Entities 100 Municipal Drive Trophy Club, TX 76262 File Number: 09-62-M1 File ID: Type: Status: 09-62-M1 M1 Agenda Item Regular Session 1Version: Reference: In Control: Trophy Club Municipal Utility District No. 1 04/08/2009File Created: Final Action: *File Name: Title: Set Next Meeting Date a. Tuesday, May 12, 2009, 5:00 p.m. Notes: Staff would like to recommend the MUD 1's May meeting at 5:00 p.m. MUD 2 has scheduled their May meeting for May 12, at 7:00 p.m. so as to not have to schedule a special meeting to canvass their election. Their regular meeting date for May (05/06) is before the election. Sponsors: Enactment Date: May Calendar.pdfAttachments: Enactment Number: Hearing Date: Contact: Effective Date: *Entered by: mmoore@trophyclub.org History of Legislative File Action: Result: Return Date: Due Date: Sent To: Date: Acting Body: Ver- sion: 1 04/14/2009Trophy Club Municipal Utility District No. 1 Text of Legislative File 09-62-M1 Set Next Meeting Date a. Tuesday, May 12, 2009, 5:00 p.m. TCMUD 1 Page 53 of 55 Meeting Date: March 4, 2009 TCMUD 1Page 54 of 55Meeting Date: March 4, 2009 Trophy Club Entities 100 Municipal Drive Trophy Club, TX 76262 File Number: 09-51-M1 File ID: Type: Status: 09-51-M1 M1 Closed Session Executive Session 1Version: Reference: In Control: Trophy Club Municipal Utility District No. 1 03/25/2009File Created: Final Action: *File Name: Title: Discuss and take appropriate action relative to discussions held during Closed Session. a. Election and Ballot Issues b. Pending and/or Contemplated Litigation c. Bond issue Notes: Sponsors: Enactment Date: Attachments: Enactment Number: Hearing Date: Contact: Effective Date: *Entered by: mmoore@trophyclub.org History of Legislative File Action: Result: Return Date: Due Date: Sent To: Date: Acting Body: Ver- sion: 1 04/14/2009Trophy Club Municipal Utility District No. 1 Text of Legislative File 09-51-M1 Discuss and take appropriate action relative to discussions held during Closed Session. a. Election and Ballot Issues b. Pending and/or Contemplated Litigation c. Bond issue TCMUD 1 Page 55 of 55 Meeting Date: March 4, 2009