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Home My WebLink AboutDecember 20, 2011 Regular Session Agenda PacketTrophy Club Municipal Utility District No. 1 Trophy Club Entities Meeting Agenda 100 Municipal Drive Trophy Club, Texas 76262 Svore Municipal Building Boardroom6:00 PMTuesday, December 20, 2011 Call to order and announce a quorum. Citizen Presentation Citizens are allowed three (3) minutes to address the Board regarding an item over which the Board has policy or oversight authority as provided by Texas law, the ethics order, or other policy order. REGULAR SESSION REPORTS AND UPDATES 1.2011-200-M1 Receive District Manager's Report a. Water pumped vs. billed b. Update - Well #3 c. Update - Water Plant d. Update - Wastewater Plant- Permit renewal e. WWTP - Review and discuss final report from John Zink f. Introduction of Ruben Perales, Wastewater Superintendent.(WWTP Update) g. Security Camera Installation combined graphs (version 2).xls WWTP - John Zink Final Report.pdf Attachments: 2.2011-201-M1 Director Thomas to update the Board on AWBD Water Smart Application 3.2011-202-M1 Receive Finance Update a. Senior Accountant Renae Gonzales to provide the Board with a monthly update and address the Board's questions. Nov 2011 PID Connections.pdfAttachments: 4.2011-203-M1 Receive Fire Update a. Fire Chief Thomas to provide the Board with a monthly update and address the Board's questions. b. Address future staffing needs. FD growth plans letter 12-13.pdf Fire District map-30x42 (2).pdf Attachments: 5.2011-204-M1 Receive Town Council Update a.Town Council member Bill Rose to provide Board with an update of Council meetings, notices, and relevant business. TCMUD No. 1 Page 1 of 291 Meeting Date: December 20, 2011 December 20, 2011Trophy Club Municipal Utility District No. 1 Meeting Agenda ACTION ITEMS 6.2011-218-M1 Discuss and take appropriate action regarding the Discover Trophy Club Magazine. a. Presentation by PIO/Marketing Manager April Reiling. 7.2011-205-M1 Review and Approve Monthly Financial Report(s) a. November 2011 Nov 2011 Budget Summary.pdf Nov 2011 Trial Balance.pdf Nov 2011variance Fire .pdf Nov 2011 variance MUD.pdf Attachments: 8.2011-216-M1 Discuss and take appropriate action regarding the resolution of the Board of Directors of the Trophy Club Municipal Utility District No. 1, authorizing the issuance and sale of Trophy Club Municipal Utility District No. 1, Revenue Note, Series 2012; providing for the security for and payment of said note; prescribing the form of said note; awarding the sale thereof; authorizing a paying agent/registrar agreement and an investment and commitment letter; and enacting other provisions relating to the subject. Note Resolution.pdf TrophyClubMUD#1-note2012-level-debt.pdf TrophyClubMUD#1-note2012-level-principal.pdf Attachments: 9.2011-206-M1 Discuss and take appropriate action regarding an order of the Board of Directors of the Trophy Club Municipal Utility District No. 1, authorizing the issuance and sale of Trophy Club Municipal Utility District No. 1, Unlimited Tax Refunding Bonds, Series 2012; establishing parameters for the redemption of certain outstanding obligations of the District, establishing procedures for the sale and delivery of the bonds; levying an annual ad valorem tax for the payment of said bonds, and enacting other provisions relating to the subject. SWS Refunding Presentation for 12-20-11 Mtg.pdf Bond Order2.pdf Attachments: 10.2011-214-M1 Discuss and take appropriate action to abandon an existing road easement to the WWTP, to be replaced by a new road by plat and separate instrument with the construction of a new subdivision “Canterbury Hills” which will be located to the north and east of the WWTP. Overall Exhibit-Existing rd easement and easement to be abandonment.pdf Existing 30 Road Easement.pdf Proposed 60 Access Easement.pdf Proposed 0.765 Ac road easement abandonment.pdf Attachments: 11.2011-215-M1 Discuss and take appropriate action regarding the roundabout at Trophy Club Drive and Trophy Lake Drive. TCMUD No. 1 Page 2 of 291 Meeting Date: December 20, 2011 December 20, 2011Trophy Club Municipal Utility District No. 1 Meeting Agenda 12.2011-207-M1 Discuss and take appropriate action regarding the process for Trophy Club MUD No. 1 Press Releases. 13.2011-208-M1 Review and Approve Meeting Minutes dated October 18, 2011. 10182011 MUD 1 Meeting Minutes.pdfAttachments: 14.2011-209-M1 Set Next Meeting Date January 2012 Calendar.pdfAttachments: CONVENE INTO CLOSED SESSION *CLOSED SESSION 15.2011-219-M1 PURSUANT TO SECTION 551.071 OF THE TEXAS GOVERNMENT CODE, TO CONDUCT A PRIVATE CONSULTATION WITH THE DISTRICT’S ATTORNEY ON A MATTER OF PENDING OR CONTEMPLATED LITIGATION: TEXAS WORKFORCE COMMISSION APPEAL NO. 1524754-1-1. RECONVENE INTO REGULAR SESSION 16.2011-217-M1 Discuss and take appropriate action regarding Executive Session item(s). a. Texas Workforce Commission Appeal No. 1524754-1-1. 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 No. 1 Page 3 of 291 Meeting Date: December 20, 2011 December 20, 2011Trophy Club Municipal Utility District No. 1 Meeting Agenda CERTIFICATION) THE STATE OF TEXAS) COUNTY OF DENTON) COUNTY OF TARRANT) THIS CERTIFIES THAT ON [INSERT POSTING DATE] AT [INSERT TIME], A COPY OF THE ABOVE NOTICE OF A MEETING OF THE TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1 TO BE HELD ON [NSERT MEETING DATE], WAS POSTED ON THE FRONT WINDOW OF THE TROPHY CLUB M.U.D. ADMINISTRATION BUILDING, 100 MUNICIPAL DRIVE, TROPHY CLUB, TEXAS, WHICH IS A PLACE CONVENIENT TO THE PUBLIC WITHIN THE BOUNDARIES OF THE DISTRICT, AND A COPY WAS ALSO PROVIDED TO THE COUNTY CLERKS OF DENTON AND TARRANT COUNTIES, TO BE POSTED ON THEIR WEBSITE AND/OR A BULLETIN BOARD AT A PLACE CONVENIENT TO THE PUBLIC IN SUCH COUNTY COURT HOUSES, PURSUANT TO SECTION 49.063 OF THE WATER CODE AND SECTION 551.054 OF THE OPEN MEETINGS ACT, CHAPTER 551 TEXAS GOVERNMENT CODE. THIS FACILITY IS WHEELCHAIR ACCESSIBLE AND ACCESSIBLE PARKING SPACES ARE AVAILABLE. REQUESTS FOR ACCOMMODATIONS OR INTERPRETATIVE SERVICES MUST BE MADE 48 HOURS PRIOR TO THIS MEETING. PLEASE CONTACT LAURIE SLAGHT AT (682) 831-4685 OR FAX YOUR REQUEST TO (817) 490-9312. I certify that the attached notice and agenda of items to be considered by this Board was removed by me from the front window of the Svore Municipal Building, 100 Municipal Drive, Trophy Club, Texas, on the 16th day of December, 2011. ____________________________________, Title: Interim MUD Secretary TCMUD No. 1 Page 4 of 291 Meeting Date: December 20, 2011 100 Municipal Drive Trophy Club, Texas 76262Trophy Club Entities Legislation Details (With Text) File #: Version:22011-200-M1 Name: Status:Type:M1 Agenda Item Draft File created:In control:12/12/2011 Trophy Club Municipal Utility District No. 1 On agenda:Final action:12/20/2011 Title:Receive District Manager's Report a. Water pumped vs. billed b. Update - Well #3 c. Update - Water Plant d. Update - Wastewater Plant- Permit renewal e. WWTP - Review and discuss final report from John Zink f. Introduction of Ruben Perales, Wastewater Superintendent.(WWTP Update) g. Security Camera Installation Attachments:combined graphs (version 2).xls WWTP - John Zink Final Report.pdf Action ByDate Action ResultVer. Title Receive District Manager's Report a. Water pumped vs. billed b. Update - Well #3 c. Update - Water Plant d. Update - Wastewater Plant- Permit renewal e. WWTP - Review and discuss final report from John Zink f. Introduction of Ruben Perales, Wastewater Superintendent.(WWTP Update) g. Security Camera Installation TCMUD No. 1 Page 5 of 291 Meeting Date: December 20, 2011 TCMUD No. 1Page 6 of 291Meeting Date: December 20, 2011 TCMUD No. 1Page 7 of 291Meeting Date: December 20, 2011 TCMUD No. 1Page 8 of 291Meeting Date: December 20, 2011 TCMUD No. 1Page 9 of 291Meeting Date: December 20, 2011 TCMUD No. 1Page 10 of 291Meeting Date: December 20, 2011 TCMUD No. 1Page 11 of 291Meeting Date: December 20, 2011 TCMUD No. 1Page 12 of 291Meeting Date: December 20, 2011 TCMUD No. 1Page 13 of 291Meeting Date: December 20, 2011 100 Municipal Drive Trophy Club, Texas 76262Trophy Club Entities Legislation Details (With Text) File #: Version:12011-201-M1 Name: Status:Type:M1 Agenda Item Draft File created:In control:12/12/2011 Trophy Club Municipal Utility District No. 1 On agenda:Final action:12/20/2011 Title:Director Thomas to update the Board on AWBD Water Smart Application Attachments: Action ByDate Action ResultVer. Title Director Thomas to update the Board on AWBD Water Smart Application TCMUD No. 1 Page 14 of 291 Meeting Date: December 20, 2011 100 Municipal Drive Trophy Club, Texas 76262Trophy Club Entities Legislation Details (With Text) File #: Version:12011-202-M1 Name: Status:Type:M1 Agenda Item Draft File created:In control:12/12/2011 Trophy Club Municipal Utility District No. 1 On agenda:Final action:12/20/2011 Title:Receive Finance Update a. Senior Accountant Renae Gonzales to provide the Board with a monthly update and address the Board's questions. Attachments:Nov 2011 PID Connections.pdf Action ByDate Action ResultVer. Title Receive Finance Update a. Senior Accountant Renae Gonzales to provide the Board with a monthly update and address the Board's questions. TCMUD No. 1 Page 15 of 291 Meeting Date: December 20, 2011 PID CONNECTION FEE SUMMARY (Nov 11) DEPOSIT DATE QTY (5/8") $ 2,300 QTY (1") $ 2,300 QTY (1.5") $ 7,590 QTY (2") $ 15,410 TOTAL QTY TOTAL AMOUNT TEXPOOL TRANSFER QTY CUM RUNNING BALANCE ($3.26M) Begin 643 1,781,100 1 - -$ - -$ - -$ - -$ - - 643 1,781,100 2 - -$ - -$ - -$ - -$ - - 643 1,781,100 3 - -$ - 2,300$ - -$ - -$ 1 2,300 644 1,778,800 4 - -$ - 2,300$ - -$ - -$ 1 2,300 645 1,776,500 5 - -$ - -$ - -$ - -$ - - 645 1,776,500 6 - -$ - -$ - -$ - -$ - - 645 1,776,500 7 - -$ - 2,300$ - -$ - -$ 1 2,300 646 1,774,200 8 - -$ - -$ - -$ - -$ - - 646 1,774,200 9 - -$ - -$ - -$ - -$ - - 646 1,774,200 10 - -$ - 4,600$ - -$ - -$ 2 4,600 648 1,769,600 11 - -$ - 2,300$ - -$ - -$ 1 2,300 649 1,767,300 12 - -$ - -$ - -$ - -$ - - 649 1,767,300 13 - -$ - -$ - -$ - -$ - - 649 1,767,300 14 - -$ - -$ - -$ - -$ - - 649 1,767,300 15 - -$ - 13,800$ - -$ - -$ 6 13,800 655 1,753,500 16 - -$ - 4,600$ - -$ - -$ 2 4,600 657 1,748,900 17 - -$ - -$ - -$ - -$ - - 657 1,748,900 18 - -$ - 2,300$ - -$ - -$ 1 2,300 658 1,746,600 19 - -$ - -$ - -$ - -$ - - 658 1,746,600 20 - -$ - -$ - -$ - -$ - - 658 1,746,600 21 - -$ - 6,900$ - -$ - -$ 3 6,900 661 1,739,700 22 - -$ - -$ - -$ - -$ - - 661 1,739,700 23 - -$ - -$ - -$ - -$ - - 661 1,739,700 24 - -$ - -$ - -$ - -$ - - 661 1,739,700 25 - -$ -$ - -$ - -$ - - 661 1,739,700 26 - -$ - -$ - -$ - -$ - - 661 1,739,700 27 - -$ - -$ - -$ - -$ - - 661 1,739,700 28 - -$ - -$ - -$ - -$ - - 661 1,739,700 29 - -$ - -$ - -$ - -$ - - 661 1,739,700 30 - -$ - -$ - -$ - -$ - - 661 1,739,700 31 - -$ - -$ - -$ - -$ - - 661 1,739,700 TOTAL - -$ - 41,400$ - -$ - -$ 18 41,400 - Upon collection of one or more Utility Fees by Town,such Utility Fees shall,within ten (10) working days, be deposited by Town into an account designated by MUDs (hereinafter "MUDs Account").Town shall continue to collect and to deposit such Utility Fees into MUDs Account in accordance with the existing agreement between the MUDs until such time as the total amount paid into that account equals $3,260,000.Town shall collect and deposit a minimum of one hundred fifty (150)Utility Fees each year, for a total of five (5)successive years commencing on May 7, 2008 (hereinafter "Collection Period").In the event that more than 150 Utility Fees are collected by Town in anyone or more years of the Collection Period,such Utility Fees in excess of the 150 Utility Fees required under this Section shall be carried over to the following year or years and shall be a credit toward the total Utility Fees due for such subsequent year or years. In the event that fewer than 150 Utility Fees are collected by Town during anyone or more year(s) of the Collection Period, including those Utility Fees carried over from any given year in which more than 150 Utility Fees were collected by Town,Town shall within ten (10) working days of collection of such Utility Fees from Developer, pay into MUDs Account the difference between the amount that would have been paid had 150 Access Fees been paid at $2,300 each and the amount of Utility Fees actually collected by Town.On or about May 7, 2013,Town shall calculate the total amount of Utility Fees paid to MUDs.Town shall provide MUDs written notice of any amount paid less than $3,260,000 (the "Utility Fee Remainder"). TCMUD No. 1 Page 16 of 291 Meeting Date: December 20, 2011 100 Municipal Drive Trophy Club, Texas 76262Trophy Club Entities Legislation Details (With Text) File #: Version:12011-203-M1 Name: Status:Type:M1 Agenda Item Draft File created:In control:12/12/2011 Trophy Club Municipal Utility District No. 1 On agenda:Final action:12/20/2011 Title:Receive Fire Update a. Fire Chief Thomas to provide the Board with a monthly update and address the Board's questions. b. Address future staffing needs. Attachments:FD growth plans letter 12-13.pdf Fire District map-30x42 (2).pdf Action ByDate Action ResultVer. Title Receive Fire Update a. Fire Chief Thomas to provide the Board with a monthly update and address the Board's questions. b. Address future staffing needs. TCMUD No. 1 Page 17 of 291 Meeting Date: December 20, 2011 Trophy Club Fire Department 295 Trophy Club Drive, Trophy Club, TX 76262 682-831-4630 fax 817-491-4630 www.trophyclub.org Page 1 December 13, 2011 Mr. Mike Slye Town of Trophy Club 100 Municipal Drive Trophy Club, TX 76262 Dear Mr. Slye, As you know, in the past couple of years the Town of Trophy Club has grown at a pace that has challenged all of our resources. We have added over 600 new homes, doubled the footprint of our development, and added a half-million square foot high school. The service level in all departments has increased, and this affects the bottom line in our tax structure and budget. Questions concerning the capability of fire protection for PD-30 came up at the November 17 meeting, and I stated that in order to make a “first in” response to a high-rise structure, the placement and manning of both Engine and Ladder would be necessary. Rescue or firefighting would then be established when the equipment is in place and the proper staffing arrives. In such an event we MUST rely on our resource management and automatic mutual aid agreements to be able to have a safe and effective strategy. Our current staffing is four (4) firefighters per shift, and our plan (based on existing growth) is to staff at six (6) firefighters per shift, or an additional two (2) personnel per shift. The addition of six (6) personnel (two for each of the three shifts) is part of the plan formulated by growth and future tax revenue, and is not a requirement for development of this property. Fire protection is governed by National Fire Protection Association (NFPA) standards and International Fire Codes. Our standards cover all the safety issues including fire sprinklers, alarms, and egress. I truly believe that we need to grow with the development and manage our resources, including plans to hire additional staff and purchase additional equipment. As a department we will experience more demand for emergency management, emergency fire and medical calls, and fire prevention and education services. This is true for all of the cities surrounding Trophy Club as well. In 2000 we joined a consortium group of fourteen cities so we can together manage several disciplines like mass casualties, bomb response, high angle rescue, water rescue, and hazardous material. The manpower and equipment for this group is well more than any one city could afford, so we buy as a group and share the costs. Trophy Club alone could not afford to house the larger pieces of equipment or hire the manpower for services like heavy rescue. TCMUD No. 1 Page 18 of 291 Meeting Date: December 20, 2011 Trophy Club Fire Department 295 Trophy Club Drive, Trophy Club, TX 76262 682-831-4630 fax 817-491-4630 www.trophyclub.org Page 2 The additional necessary personnel and equipment do not simply cover the growth in a single area. To provide the greatest return for our tax dollars, we work with our neighbors to give help when needed, and in return receive help so that we do not compromise service levels for our citizens or theirs. We must manage our resources so that we do not experience delayed emergency responses or an inability to make a second service call. Sincerely, Danny Thomas Danny Thomas Fire Chief Cc: Town Council Members Planning and Zoning Commission Members Trophy Club Municipal Utility District No. 1 Board Members TCMUD No. 1 Page 19 of 291 Meeting Date: December 20, 2011 TCMUD No. 1Page 20 of 291Meeting Date: December 20, 2011 100 Municipal Drive Trophy Club, Texas 76262Trophy Club Entities Legislation Details (With Text) File #: Version:12011-204-M1 Name: Status:Type:M1 Agenda Item Draft File created:In control:12/12/2011 Trophy Club Municipal Utility District No. 1 On agenda:Final action:12/20/2011 Title:Receive Town Council Update a.Town Council member Bill Rose to provide Board with an update of Council meetings, notices, and relevant business. Attachments: Action ByDate Action ResultVer. Title Receive Town Council Update a.Town Council member Bill Rose to provide Board with an update of Council meetings, notices, and relevant business. TCMUD No. 1 Page 21 of 291 Meeting Date: December 20, 2011 100 Municipal Drive Trophy Club, Texas 76262Trophy Club Entities Legislation Details (With Text) File #: Version:12011-218-M1 Name: Status:Type:M1 Agenda Item Draft File created:In control:12/13/2011 Trophy Club Municipal Utility District No. 1 On agenda:Final action:12/20/2011 Title:Discuss and take appropriate action regarding the Discover Trophy Club Magazine. a. Presentation by PIO/Marketing Manager April Reiling. Attachments: Action ByDate Action ResultVer. Title Discuss and take appropriate action regarding the Discover Trophy Club Magazine. a. Presentation by PIO/Marketing Manager April Reiling. TCMUD No. 1 Page 22 of 291 Meeting Date: December 20, 2011 100 Municipal Drive Trophy Club, Texas 76262Trophy Club Entities Legislation Details (With Text) File #: Version:12011-205-M1 Name: Status:Type:M1 Agenda Item Draft File created:In control:12/12/2011 Trophy Club Municipal Utility District No. 1 On agenda:Final action:12/20/2011 Title:Review and Approve Monthly Financial Report(s) a. November 2011 Attachments:Nov 2011 Budget Summary.pdf Nov 2011 Trial Balance.pdf Nov 2011variance Fire .pdf Nov 2011 variance MUD.pdf Action ByDate Action ResultVer. Title Review and Approve Monthly Financial Report(s) a. November 2011 TCMUD No. 1 Page 23 of 291 Meeting Date: December 20, 2011 . glbase_tbam rgonzale Trophy Club Entities Page 1 10:40 12/16/11 Budget Summary with Amendment Fund: 122 Trophy Club MUD Fire Dept. Department: Fire Revenues Program: Period Ending: 11/2011 Account Description Adopted Amended Total Current YTD % of Remaining Budget Budget Encumb. Month Total Budget Budget 122-40001-000-000 Assessment - Emerg Svcs 193,233.00- 193,233.00- 12,545.11- 16,305.23- 8.438 176,927.77- 122-40003-000-000 Emer Svcs Assessmen/Delinquent 7.75- 7.75 122-40010-000-000 Property Taxes/MUD Fire 1,076,976.00- 1,076,976.00- 61,809.88- 65,846.17- 6.114 1,011,129.83- 122-40011-000-000 Property Taxes/Fire-Delinquent 394.18- 2,177.05 2,177.05- 122-40015-000-000 Property Taxes/Assessments P&I 3.88- 5.42- 5.42 122-40020-000-000 Property Taxes/Fire P&I 7,500.00- 7,500.00- 57.54- 296.28- 3.950 7,203.72- Subtotal: 1,277,709.00- 1,277,709.00- 74,810.59- 80,283.80- 6.283 1,197,425.20- 122-42014-000-000 Fire Permits/Sprinkler 1,200.00- 1,200.00- 1,200.00 Subtotal: 1,200.00- 1,200.00- 1,200.00 122-43400-000-000 Fire Inspections 225.00- 225.00- 225.00 122-43415-000-000 Denton/Tarrant Cty Pledge-Fire 10,000.00- 10,000.00- 10,000.00- 122-43599-000-000 Misc Fire Revenue 1,124.00- 1,124.00- 1,124.00- Subtotal: 11,124.00- 11,124.00- 225.00- 225.00- 2.023 10,899.00- 122-49035-000-000 Prior Year Reserves 23,101.00- 23,101.00- 23,101.00- 122-49900-000-000 Miscellaneous Income 1,675.00- 1,675.00- 1,675.00 Subtotal: 23,101.00- 23,101.00- 1,675.00- 1,675.00- 7.251 21,426.00- Program number: 1,311,934.00- 1,311,934.00- 77,910.59- 83,383.80- 6.356 1,228,550.20- Department number: Fire Revenues 1,311,934.00- 1,311,934.00- 77,910.59- 83,383.80- 6.356 1,228,550.20- Revenues Subtotal ----------- 1,311,934.00- 1,311,934.00- 77,910.59- 83,383.80- 6.356 1,228,550.20- TCMUD No. 1 Page 24 of 291 Meeting Date: December 20, 2011 . glbase_tbam rgonzale Trophy Club Entities Page 2 10:40 12/16/11 Budget Summary with Amendment Fund: 122 Trophy Club MUD Fire Dept. Department: 45 Fire Program: Period Ending: 11/2011 Account Description Adopted Amended Total Current YTD % of Remaining Budget Budget Encumb. Month Total Budget Budget 122-50005-045-000 Salaries & Wages 425,748.00 425,748.00 31,550.99 63,979.88 15.028 361,768.12 122-50010-045-000 Overtime 42,000.00 42,000.00 4,915.95 8,978.28 21.377 33,021.72 122-50011-045-000 DPS Holiday Pay 12,133.00 12,133.00 13,773.02 13,773.02 113.517 1,640.02- 122-50016-045-000 Longevity 3,647.00 3,647.00 3,714.46 3,714.46 101.850 67.46- 122-50017-045-000 Certification 4,073.00 4,073.00 494.70 989.40 24.292 3,083.60 122-50020-045-000 Retirement 68,264.00 68,264.00 7,642.38 12,684.53 18.582 55,579.47 122-50026-045-000 Medical Insurance 53,184.00 53,184.00 3,339.37 6,679.65 12.560 46,504.35 122-50027-045-000 Dental Insurance 3,288.00 3,288.00 291.82 583.78 17.755 2,704.22 122-50028-045-000 Vision Insurance 857.00 857.00 65.90 131.85 15.385 725.15 122-50029-045-000 Life Insurance & Other 2,740.00 2,740.00 2,740.00 122-50030-045-000 Social Security Taxes 30,231.00 30,231.00 3,189.67 5,296.57 17.520 24,934.43 122-50035-045-000 Medicare Taxes 7,070.00 7,070.00 745.94 1,238.72 17.521 5,831.28 122-50040-045-000 Unemployment Taxes 1,476.00 1,476.00 8.56 33.10 2.243 1,442.90 122-50045-045-000 Workman's Compensation 8,793.00 8,793.00 8,309.50 94.501 483.50 122-50060-045-000 Pre-employment Physicals/Test 675.00 675.00 35.00 35.00 5.185 640.00 Subtotal: 664,179.00 664,179.00 69,767.76 126,427.74 19.035 537,751.26 122-55080-045-000 Maintenance & Repairs 9,562.00 9,562.00 79.21 79.21 .828 9,482.79 122-55090-045-000 Vehicle Maintenance 14,850.00 14,850.00 14,850.00 122-55095-045-000 Equipment Maintenance 9,808.00 9,808.00 9,808.00 122-55100-045-000 Building Maintenance 11,000.00 11,000.00 993.84 1,705.49 15.504 9,294.51 122-55110-045-000 Maintenance-Radios 1,103.00 1,103.00 1,103.00 122-55160-045-000 Professional Outside Services 20,000.00 20,000.00 20,000.00 Subtotal: 66,323.00 66,323.00 1,073.05 1,784.70 2.691 64,538.30 122-60005-045-000 Telephone 106.00 106.00 11.09 10.462 94.91 122-60010-045-000 Communications/Pagers/Mobiles 4,411.00 4,411.00 409.30 440.28 9.981 3,970.72 122-60020-045-000 Electricity 18,270.00 18,270.00 943.76 1,544.69 8.455 16,725.31 122-60025-045-000 Water 3,289.00 3,289.00 184.23 1,105.54 33.613 2,183.46 122-60030-045-000 Rent And/Or Usage 308,000.00 308,000.00 308,000.00 122-60035-045-000 Postage 97.00 97.00 1.72 10.59 10.918 86.41 122-60055-045-000 Insurance 20,974.00 20,974.00 8,078.00 38.514 12,896.00 122-60066-045-000 Publications/Books/Subscrips 401.00 401.00 401.00 122-60070-045-000 Dues & Memberships 8,560.00 8,560.00 250.00 5,426.34 63.392 3,133.66 122-60080-045-000 Schools & Training 6,946.00 6,946.00 83.47 83.47 1.202 6,862.53 122-60096-045-000 Emergency Management 1,000.00 1,000.00 1,000.00 1,000.00 100.000 122-60100-045-000 Travel & per diem 6,788.00 6,788.00 1,620.88 23.879 5,167.12 122-60110-045-000 Physicals/Testing 1,918.00 1,918.00 1,918.00 122-60125-045-000 Advertising 156.00 156.00 156.00 122-60160-045-000 Programs & Special Projects 4,162.00 4,162.00 624.91 15.015 3,537.09 122-60180-045-000 Fire Inspection/Enforcement 1,900.00 1,900.00 181.00 181.00 9.526 1,719.00 122-60195-045-000 Flags & Repair 2,543.00 2,543.00 402.50 15.828 2,140.50 TCMUD No. 1 Page 25 of 291 Meeting Date: December 20, 2011 . glbase_tbam rgonzale Trophy Club Entities Page 3 10:40 12/16/11 Budget Summary with Amendment Fund: 122 Trophy Club MUD Fire Dept. Department: 45 Fire Program: Period Ending: 11/2011 Account Description Adopted Amended Total Current YTD % of Remaining Budget Budget Encumb. Month Total Budget Budget 122-60245-045-000 Miscellaneous Expense 1,237.00 1,237.00 26.25 26.25 2.122 1,210.75 Subtotal: 390,758.00 390,758.00 3,079.73 20,555.54 5.260 370,202.46 122-65005-045-000 Fuel & Lube 17,414.00 17,414.00 688.87 688.87 3.956 16,725.13 122-65010-045-000 Uniforms 4,357.00 4,357.00 37.50 396.50 9.100 3,960.50 122-65015-045-000 Protective Clothing 7,600.00 7,600.00 28.50 28.50 .375 7,571.50 122-65030-045-000 Chemicals 1,545.00 1,545.00 1,545.00 122-65035-045-000 Small Tools 8,371.00 8,371.00 129.00 221.50 2.646 8,149.50 122-65085-045-000 Office Supplies 329.00 329.00 48.64 99.60 30.274 229.40 122-65095-045-000 Maintenance Supplies 2,785.00 2,785.00 21.75 .781 2,763.25 122-65105-045-000 Printing 106.00 106.00 24.77 24.77 23.368 81.23 Subtotal: 42,507.00 42,507.00 957.28 1,481.49 3.485 41,025.51 122-69006-045-000 Grant Match 3,000.00 3,000.00 3,000.00 122-69035-045-000 Vehicles 13,709.00 13,709.00 21,529.55 10,764.78 32,294.33 235.570 18,585.33- 122-69050-045-000 Radios 2,500.00 2,500.00 2,500.00 122-69195-045-000 GASB34/Reserve for Replacement 41,890.00 41,890.00 41,890.00 122-69251-045-000 Engine 681 Payment 73,203.00 73,203.00 73,203.00 122-69255-045-000 Airpacks 13,865.00 13,865.00 13,865.00 Subtotal: 148,167.00 148,167.00 21,529.55 10,764.78 32,294.33 21.796 115,872.67 Program number: 1,311,934.00 1,311,934.00 21,529.55 85,642.60 182,543.80 13.914 1,129,390.20 Department number: 45 Fire 1,311,934.00 1,311,934.00 21,529.55 85,642.60 182,543.80 13.914 1,129,390.20 Expenditures Subtotal ----------- 1,311,934.00 1,311,934.00 21,529.55 85,642.60 182,543.80 13.914 1,129,390.20 Fund number: 122 Trophy Club MUD Fire Dept. 21,529.55 7,732.01 99,160.00 99,160.00- TCMUD No. 1 Page 26 of 291 Meeting Date: December 20, 2011 . glbase_tbam rgonzale Trophy Club Entities Page 4 10:40 12/16/11 Budget Summary with Amendment Fund: 135 MUD 1 General Fund Department: Revenues Program: Period Ending: 11/2011 Account Description Adopted Amended Total Current YTD % of Remaining Budget Budget Encumb. Month Total Budget Budget 135-40000-000-000 Property Taxes 97,495.00- 97,495.00- 5,595.43- 5,960.82- 6.114 91,534.18- 135-40002-000-000 Property Taxes/Delinquent 31.72- 124.99 124.99- 135-40015-000-000 Property Taxes/P & I 1,334.00- 1,334.00- 162.09- 390.15 -29.247 1,724.15- Subtotal: 98,829.00- 98,829.00- 5,789.24- 5,445.68- 5.510 93,383.32- 135-47000-000-000 Water 1,990,800.00- 1,990,800.00- 121,730.50- 301,399.25- 15.140 1,689,400.75- 135-47005-000-000 Sewer 1,325,000.00- 1,325,000.00- 84,805.36- 192,009.55- 14.491 1,132,990.45- 135-47010-000-000 Commercial Water 825,000.00- 825,000.00- 51,584.88- 136,810.66- 16.583 688,189.34- 135-47015-000-000 Commercial Sewer 360,000.00- 360,000.00- 20,506.82- 50,697.97- 14.083 309,302.03- 135-47020-000-000 Standby 775.00- 775.00- 72.00- 138.00- 17.806 637.00- 135-47025-000-000 Penalties 50,500.00- 50,500.00- 8,603.88- 15,670.18- 31.030 34,829.82- 135-47030-000-000 Service Charges 17,500.00- 17,500.00- 1,212.38- 2,940.38- 16.802 14,559.62- 135-47035-000-000 Plumbing Inspections 1,200.00- 1,200.00- 150.00- 150.00- 12.500 1,050.00- 135-47045-000-000 Sewer Inspections 4,500.00- 4,500.00- 450.00- 450.00- 10.000 4,050.00- 135-47070-000-000 TCCC Effluent Charges 57,500.00- 57,500.00- 8,212.62- 8,212.62- 14.283 49,287.38- 135-47270-000-000 Fire Line 5,000.00- 5,000.00- 5,000.00- 135-47400-000-000 Water-Out of Dist/Port Meters 41,595.00- 41,595.00- 6,526.73- 14,908.07- 35.841 26,686.93- 135-47405-000-000 Out of District Sewer 11,807.00- 11,807.00- 781.43- 1,741.74- 14.752 10,065.26- 135-47410-000-000 Out of Dist/Portable Penalties 300.00- 300.00- 4.68- 4.68- 1.560 295.32- 135-47600-000-000 PID #1 Water 425,000.00- 425,000.00- 33,094.82- 76,499.59- 18.000 348,500.41- 135-47605-000-000 PID #1 Sewer 185,000.00- 185,000.00- 17,248.04- 37,643.88- 20.348 147,356.12- Subtotal: 5,301,477.00- 5,301,477.00- 354,984.14- 839,276.57- 15.831 4,462,200.43- 135-48005-000-000 Utility Fees 338,880.00- 338,880.00- 41,400.00- 78,980.00- 23.306 259,900.00- Subtotal: 338,880.00- 338,880.00- 41,400.00- 78,980.00- 23.306 259,900.00- 135-49010-000-000 Interest Income 4,500.00- 4,500.00- 394.10- 728.98- 16.200 3,771.02- 135-49016-000-000 Cell Tower Revenue 847.00- 1,694.00- 1,694.00 135-49018-000-000 Building Rent Income 7,000.00- 7,000.00- 583.33- 1,166.66- 16.667 5,833.34- 135-49030-000-000 Vending Revenue 600.00- 600.00- 600.00- 135-49035-000-000 Prior Year Reserves 241,981.00- 241,981.00- 241,981.00- 135-49036-000-000 GASB Reserves 26,911.00- 26,911.00- 26,911.00- 135-49075-000-000 Oversize Meter Reimbursement 64,000.00- 64,000.00- 6,424.00- 11,972.00- 18.706 52,028.00- 135-49900-000-000 Miscellaneous Income 10,000.00- 10,000.00- 316.49- 333.49- 3.335 9,666.51- 135-49905-000-000 Gas Well Revenue 800.00- 800.00- 48.62- 48.62- 6.078 751.38- Subtotal: 355,792.00- 355,792.00- 8,613.54- 15,943.75- 4.481 339,848.25- Program number: 6,094,978.00- 6,094,978.00- 410,786.92- 939,646.00- 15.417 5,155,332.00- Department number: Revenues 6,094,978.00- 6,094,978.00- 410,786.92- 939,646.00- 15.417 5,155,332.00- TCMUD No. 1 Page 27 of 291 Meeting Date: December 20, 2011 . glbase_tbam rgonzale Trophy Club Entities Page 5 10:40 12/16/11 Budget Summary with Amendment Fund: 135 MUD 1 General Fund Department: Revenues Program: Period Ending: 11/2011 Account Description Adopted Amended Total Current YTD % of Remaining Budget Budget Encumb. Month Total Budget Budget Revenues Subtotal ----------- 6,094,978.00- 6,094,978.00- 410,786.92- 939,646.00- 15.417 5,155,332.00- TCMUD No. 1 Page 28 of 291 Meeting Date: December 20, 2011 . glbase_tbam rgonzale Trophy Club Entities Page 6 10:40 12/16/11 Budget Summary with Amendment Fund: 135 MUD 1 General Fund Department: 10 Water Program: Period Ending: 11/2011 Account Description Adopted Amended Total Current YTD % of Remaining Budget Budget Encumb. Month Total Budget Budget 135-50005-010-000 Salaries & Wages 199,759.00 199,759.00 12,581.46 25,162.92 12.597 174,596.08 135-50010-010-000 Overtime 13,250.00 13,250.00 790.25 1,975.22 14.907 11,274.78 135-50016-010-000 Longevity 2,620.00 2,620.00 2,620.00 2,620.00 100.000 135-50017-010-000 Certification 1,800.00 1,800.00 150.00 300.00 16.667 1,500.00 135-50020-010-000 Retirement 25,508.00 25,508.00 2,285.67 4,256.24 16.686 21,251.76 135-50026-010-000 Medical Insurance 22,607.00 22,607.00 1,883.94 3,767.88 16.667 18,839.12 135-50027-010-000 Dental Insurance 2,169.00 2,169.00 134.28 268.56 12.382 1,900.44 135-50028-010-000 Vision Insurance 576.00 576.00 31.76 63.52 11.028 512.48 135-50029-010-000 Life Insurance & Other 1,161.00 1,161.00 1,161.00 135-50030-010-000 Social Security Taxes 13,481.00 13,481.00 947.55 1,757.12 13.034 11,723.88 135-50035-010-000 Medicare Taxes 3,153.00 3,153.00 221.61 410.95 13.034 2,742.05 135-50040-010-000 Unemployment Taxes 945.00 945.00 945.00 135-50045-010-000 Workman's Compensation 5,581.00 5,581.00 5,581.00 100.000 135-50060-010-000 Pre-emp Physicals/Testing 200.00 200.00 200.00 135-50070-010-000 Employee Relations 350.00 350.00 27.59 27.59 7.883 322.41 Subtotal: 293,160.00 293,160.00 21,674.11 46,191.00 15.756 246,969.00 135-55005-010-000 Engineering 1,500.00 1,500.00 1,500.00 135-55070-010-000 Independent Labor 500.00 500.00 500.00 135-55080-010-000 Maintenance & Repairs 29,500.00 29,500.00 363.10 913.10 3.095 28,586.90 135-55090-010-000 Vehicle Maintenance 3,380.00 3,380.00 1,684.48 1,797.37 53.177 1,582.63 135-55100-010-000 Building Maint & Supplies 750.00 750.00 365.50 48.733 384.50 135-55105-010-000 Maintenance-Backhoe/SkidLoader 2,900.00 2,900.00 2,900.00 135-55135-010-000 Lab Analysis 4,500.00 4,500.00 180.00 360.00 8.000 4,140.00 Subtotal: 43,030.00 43,030.00 2,227.58 3,435.97 7.985 39,594.03 135-60010-010-000 Communications/Pagers/Mobiles 1,599.00 1,599.00 318.76 318.76 19.935 1,280.24 135-60020-010-000 Electricity 162,000.00 162,000.00 11,053.80 19,395.80 11.973 142,604.20 135-60035-010-000 Postage 500.00 500.00 6.51 6.51 1.302 493.49 135-60050-010-000 Bad Debt Expense 4,200.00 4,200.00 4,200.00 135-60066-010-000 Publications/Books/Subscripts 50.00 50.00 50.00 135-60070-010-000 Dues & Memberships 150.00 150.00 150.00 135-60080-010-000 Schools & Training 2,800.00 2,800.00 111.00 391.00 13.964 2,409.00 135-60090-010-000 Safety Program 500.00 500.00 500.00 135-60100-010-000 Travel & per diem 3,200.00 3,200.00 76.05 154.87 4.840 3,045.13 135-60105-010-000 Rent/Lease Equipment 500.00 500.00 500.00 135-60135-010-000 Annual Permit Fee 6,600.00 6,600.00 7,965.75 7,965.75 120.693 1,365.75- 135-60150-010-000 Bulk Water 1,720,000.00 1,720,000.00 155,009.23 155,009.23 9.012 1,564,990.77 135-60245-010-000 Miscellaneous Expenses 1,000.00 1,000.00 1,000.00 135-60280-010-000 Property Maintenance 4,200.00 4,200.00 4,200.00 135-60285-010-000 Lawn Equipment & Maintenance 2,000.00 2,000.00 2,000.00 135-60360-010-000 Furniture/Equipment < $5000 1,500.00 1,500.00 1,500.00 TCMUD No. 1 Page 29 of 291 Meeting Date: December 20, 2011 . glbase_tbam rgonzale Trophy Club Entities Page 7 10:40 12/16/11 Budget Summary with Amendment Fund: 135 MUD 1 General Fund Department: 10 Water Program: Period Ending: 11/2011 Account Description Adopted Amended Total Current YTD % of Remaining Budget Budget Encumb. Month Total Budget Budget Subtotal: 1,910,799.00 1,910,799.00 174,541.10 183,241.92 9.590 1,727,557.08 135-65005-010-000 Fuel & Lube 15,216.00 15,216.00 1,345.37 1,345.37 8.842 13,870.63 135-65010-010-000 Uniforms 3,690.00 3,690.00 114.97 753.18 20.411 2,936.82 135-65030-010-000 Chemicals 6,200.00 6,200.00 6,200.00 135-65035-010-000 Small Tools 2,500.00 2,500.00 2,500.00 135-65040-010-000 Safety Equipment 2,500.00 2,500.00 2,500.00 135-65050-010-000 Meter Expense 85,000.00 85,000.00 51,329.00 55,736.00 65.572 29,264.00 135-65055-010-000 Hardware 1,000.00 1,000.00 1,000.00 135-65095-010-000 Maintenance Supplies 32,000.00 32,000.00 4,822.21 5,320.88 16.628 26,679.12 135-65100-010-000 Copies 50.00 50.00 50.00 135-65105-010-000 Printing 150.00 150.00 58.50 39.000 91.50 Subtotal: 148,306.00 148,306.00 57,611.55 63,213.93 42.624 85,092.07 135-69005-010-000 Capital Expenses 888,432.00 888,432.00 392,150.00 392,747.19 44.207 495,684.81 135-69035-010-000 Vehicles 27,000.00 27,000.00 29,438.70 29,438.70 109.032 2,438.70- 135-69195-010-000 Gasb34/Reserve for Replacement 30,000.00 30,000.00 30,000.00 135-69280-010-000 Capital Repairs 24,000.00 24,000.00 24,000.00 135-69281-010-000 Capital Repair-Ground Storage 124,771.00 124,771.00 69,788.02 69,788.02 55.933 54,982.98 135-69295-010-000 Unexpected Maintenance 250.00 250.00 250.00 135-69305-010-000 Capital Leases 11,490.00 11,490.00 11,490.00 Subtotal: 1,105,943.00 1,105,943.00 29,438.70 461,938.02 491,973.91 44.485 613,969.09 Program number: 3,501,238.00 3,501,238.00 29,438.70 717,992.36 788,056.73 22.508 2,713,181.27 Department number: 10 Water 3,501,238.00 3,501,238.00 29,438.70 717,992.36 788,056.73 22.508 2,713,181.27 TCMUD No. 1 Page 30 of 291 Meeting Date: December 20, 2011 . glbase_tbam rgonzale Trophy Club Entities Page 8 10:40 12/16/11 Budget Summary with Amendment Fund: 135 MUD 1 General Fund Department: 20 Wastewater Program: Period Ending: 11/2011 Account Description Adopted Amended Total Current YTD % of Remaining Budget Budget Encumb. Month Total Budget Budget 135-50005-020-000 Salaries & Wages 182,147.00 182,147.00 9,477.02 40,190.99 22.065 141,956.01 135-50010-020-000 Overtime 10,166.00 10,166.00 1,641.24 2,357.50 23.190 7,808.50 135-50016-020-000 Longevity 3,976.00 3,976.00 2,587.50 3,975.00 99.975 1.00 135-50017-020-000 Certification 2,400.00 2,400.00 125.00 325.00 13.542 2,075.00 135-50020-020-000 Retirement 27,816.00 27,816.00 1,958.43 6,633.74 23.849 21,182.26 135-50026-020-000 Medical Insurance 30,805.00 30,805.00 1,734.68 4,221.62 13.704 26,583.38 135-50027-020-000 Dental Insurance 1,981.00 1,981.00 136.94 322.90 16.300 1,658.10 135-50028-020-000 Vision Insurance 552.00 552.00 34.44 80.36 14.558 471.64 135-50029-020-000 Life Insurance & Other 884.00 884.00 884.00 135-50030-020-000 Social Security Taxes 8,597.00 8,597.00 766.07 2,675.85 31.125 5,921.15 135-50035-020-000 Medicare Taxes 2,011.00 2,011.00 179.14 625.78 31.118 1,385.22 135-50040-020-000 Unemployment Taxes 567.00 567.00 567.00 135-50045-020-000 Workman's Compensation 2,685.00 2,685.00 2,685.00 100.000 135-50060-020-000 Pre-emp Physicals/Testing 30.45 30.45 30.45- 135-50070-020-000 Employee Relations 350.00 350.00 350.00 Subtotal: 274,937.00 274,937.00 18,670.91 64,124.19 23.323 210,812.81 135-55070-020-000 Independent Labor 750.00 750.00 750.00 135-55080-020-000 Maintenance & Repairs 17,750.00 17,750.00 737.76 3,858.70 21.739 13,891.30 135-55090-020-000 Vehicle Maintenance 4,998.00 4,998.00 4,998.00 135-55100-020-000 Building Maint & Supplies 1,400.00 1,400.00 1,400.00 135-55105-020-000 Maintenance-Backhoe/SkidLoader 2,950.00 2,950.00 2,950.00 135-55125-020-000 Dumpster Services 35,000.00 35,000.00 3,225.00 4,837.50 13.821 30,162.50 135-55135-020-000 Lab Analysis 22,760.00 22,760.00 1,168.75 2,243.32 9.856 20,516.68 Subtotal: 85,608.00 85,608.00 5,131.51 10,939.52 12.779 74,668.48 135-60005-020-000 Telephone 6.20 6.20- 135-60010-020-000 Communications/Pagers/Mobiles 3,000.00 3,000.00 375.36 375.36 12.512 2,624.64 135-60020-020-000 Electricity 205,000.00 205,000.00 15,733.60 23,307.74 11.370 181,692.26 135-60025-020-000 Water 1,900.00 1,900.00 160.31 257.91 13.574 1,642.09 135-60035-020-000 Postage 120.00 120.00 120.00 135-60066-020-000 Publications/Books/Subscripts 500.00 500.00 438.17 87.634 61.83 135-60080-020-000 Schools & Training 1,320.00 1,320.00 1,320.00 135-60090-020-000 Safety Program 200.00 200.00 200.00 135-60100-020-000 Travel & per diem 1,750.00 1,750.00 233.10 349.65 19.980 1,400.35 135-60105-020-000 Rent/Lease Equipment 200.00 200.00 901.30 901.30 450.650 701.30- 135-60125-020-000 Advertising 987.36 987.36 987.36- 135-60135-020-000 Annual Permit Fee 7,500.00 7,500.00 7,432.50 99.100 67.50 135-60245-020-000 Miscellaneous Expenses 525.00 525.00 525.00 135-60285-020-000 Lawn Equipment & Maintenance 525.00 525.00 525.00 Subtotal: 222,540.00 222,540.00 18,391.03 34,056.19 15.303 188,483.81 TCMUD No. 1 Page 31 of 291 Meeting Date: December 20, 2011 . glbase_tbam rgonzale Trophy Club Entities Page 9 10:40 12/16/11 Budget Summary with Amendment Fund: 135 MUD 1 General Fund Department: 20 Wastewater Program: Period Ending: 11/2011 Account Description Adopted Amended Total Current YTD % of Remaining Budget Budget Encumb. Month Total Budget Budget 135-65005-020-000 Fuel & Lube 6,875.00 6,875.00 444.50 444.50 6.465 6,430.50 135-65010-020-000 Uniforms 3,140.00 3,140.00 645.96 645.96 20.572 2,494.04 135-65030-020-000 Chemicals 13,180.00 13,180.00 149.11 1,499.11 11.374 11,680.89 135-65035-020-000 Small Tools 1,260.00 1,260.00 1,260.00 135-65040-020-000 Safety Equipment 925.00 925.00 925.00 135-65045-020-000 Lab Supplies 19,160.00 19,160.00 277.01 277.01 1.446 18,882.99 135-65055-020-000 Hardware 525.00 525.00 525.00 135-65085-020-000 Office Supplies 400.00 400.00 23.14 23.14 5.785 376.86 135-65095-020-000 Maintenance Supplies 8,860.00 8,860.00 190.52 345.66 3.901 8,514.34 135-65115-020-000 Other Consumables 110.00 110.00 110.00 Subtotal: 54,435.00 54,435.00 1,730.24 3,235.38 5.944 51,199.62 135-69005-020-000 Capital Expenses 161,189.00 161,189.00 34,800.26 34,800.26 21.590 126,388.74 135-69035-020-000 Vehicles 18,279.55 18,279.55 18,279.55- 135-69280-020-000 Capital Repairs 56,000.00 56,000.00 56,000.00 Subtotal: 217,189.00 217,189.00 18,279.55 34,800.26 53,079.81 24.439 164,109.19 Program number: 854,709.00 854,709.00 18,279.55 78,723.95 165,435.09 19.356 689,273.91 Department number: 20 Wastewater 854,709.00 854,709.00 18,279.55 78,723.95 165,435.09 19.356 689,273.91 TCMUD No. 1 Page 32 of 291 Meeting Date: December 20, 2011 . glbase_tbam rgonzale Trophy Club Entities Page 10 10:40 12/16/11 Budget Summary with Amendment Fund: 135 MUD 1 General Fund Department: 21 Collection Program: Period Ending: 11/2011 Account Description Adopted Amended Total Current YTD % of Remaining Budget Budget Encumb. Month Total Budget Budget 135-50005-021-000 Salaries & Wages 145,481.00 145,481.00 11,082.16 22,164.32 15.235 123,316.68 135-50010-021-000 Overtime 7,297.00 7,297.00 730.15 1,381.87 18.938 5,915.13 135-50016-021-000 Longevity 3,548.00 3,548.00 3,547.50 3,547.50 99.986 .50 135-50017-021-000 Certification 1,500.00 1,500.00 125.00 250.00 16.667 1,250.00 135-50020-021-000 Retirement 21,074.00 21,074.00 2,192.65 3,871.87 18.373 17,202.13 135-50026-021-000 Medical Insurance 22,983.00 22,983.00 1,702.68 3,405.36 14.817 19,577.64 135-50027-021-000 Dental Insurance 1,533.00 1,533.00 117.38 234.76 15.314 1,298.24 135-50028-021-000 Vision Insurance 357.00 357.00 29.72 59.44 16.650 297.56 135-50029-021-000 Life Insurance & Other 978.00 978.00 978.00 135-50030-021-000 Social Security Taxes 9,785.00 9,785.00 901.09 1,577.36 16.120 8,207.64 135-50035-021-000 Medicare Taxes 2,288.00 2,288.00 210.74 368.90 16.123 1,919.10 135-50040-021-000 Unemployment Taxes 567.00 567.00 567.00 135-50045-021-000 Workman's Compensation 3,056.00 3,056.00 3,056.00 100.000 135-50070-021-000 Employee Relations 250.00 250.00 250.00 Subtotal: 220,697.00 220,697.00 20,639.07 39,917.38 18.087 180,779.62 135-55005-021-000 Engineering 1,500.00 1,500.00 1,500.00 135-55070-021-000 Independent Labor 200.00 200.00 200.00 135-55080-021-000 Maintenance & Repairs 23,700.00 23,700.00 2,241.78 2,400.23 10.128 21,299.77 135-55090-021-000 Vehicle Maintenance 1,943.00 1,943.00 130.00 6.691 1,813.00 135-55100-021-000 Building Maint & Supplies 750.00 750.00 750.00 Subtotal: 28,093.00 28,093.00 2,241.78 2,530.23 9.007 25,562.77 135-60005-021-000 Telephone 3.23 3.23- 135-60010-021-000 Communications/Pagers/Mobiles 2,796.00 2,796.00 406.18 406.18 14.527 2,389.82 135-60020-021-000 Electricity 23,625.00 23,625.00 1,281.91 1,927.39 8.158 21,697.61 135-60025-021-000 Water 750.00 750.00 750.00 135-60035-021-000 Postage 150.00 150.00 150.00 135-60070-021-000 Dues & Memberships 255.00 255.00 255.00 135-60080-021-000 Schools & Training 2,818.00 2,818.00 2,818.00 135-60090-021-000 Safety Program 750.00 750.00 750.00 135-60100-021-000 Travel & per diem 1,500.00 1,500.00 80.48 177.06 11.804 1,322.94 135-60105-021-000 Rent/Lease Equipment 44,107.00 44,107.00 44,107.00 135-60245-021-000 Miscellaneous Expenses 100.00 100.00 100.00 135-60280-021-000 Property Maintenance 1,000.00 1,000.00 1,000.00 Subtotal: 77,851.00 77,851.00 1,768.57 2,513.86 3.229 75,337.14 135-65005-021-000 Fuel & Lube 11,700.00 11,700.00 1,454.09 1,454.09 12.428 10,245.91 135-65010-021-000 Uniforms 2,505.00 2,505.00 350.00 350.00 13.972 2,155.00 135-65030-021-000 Chemicals 12,500.00 12,500.00 12,500.00 135-65035-021-000 Small Tools 1,500.00 1,500.00 1,500.00 TCMUD No. 1 Page 33 of 291 Meeting Date: December 20, 2011 . glbase_tbam rgonzale Trophy Club Entities Page 11 10:40 12/16/11 Budget Summary with Amendment Fund: 135 MUD 1 General Fund Department: 21 Collection Program: Period Ending: 11/2011 Account Description Adopted Amended Total Current YTD % of Remaining Budget Budget Encumb. Month Total Budget Budget 135-65040-021-000 Safety Equipment 1,150.00 1,150.00 1,150.00 135-65055-021-000 Hardware 750.00 750.00 44.95 44.95 5.993 705.05 135-65095-021-000 Maintenance Supplies 16,050.00 16,050.00 15.12 15.12 .094 16,034.88 Subtotal: 46,155.00 46,155.00 1,864.16 1,864.16 4.039 44,290.84 135-69005-021-000 Capital Expenses 15,000.00 15,000.00 31,991.00 31,991.00 213.273 16,991.00- 135-69280-021-000 Capital Repairs 20,000.00 20,000.00 20,000.00 Subtotal: 35,000.00 35,000.00 31,991.00 31,991.00 91.403 3,009.00 Program number: 407,796.00 407,796.00 58,504.58 78,816.63 19.327 328,979.37 Department number: 21 Collection 407,796.00 407,796.00 58,504.58 78,816.63 19.327 328,979.37 TCMUD No. 1 Page 34 of 291 Meeting Date: December 20, 2011 . glbase_tbam rgonzale Trophy Club Entities Page 12 10:40 12/16/11 Budget Summary with Amendment Fund: 135 MUD 1 General Fund Department: 26 Board of Directors Program: Period Ending: 11/2011 Account Description Adopted Amended Total Current YTD % of Remaining Budget Budget Encumb. Month Total Budget Budget 135-50005-026-000 Salaries & Wages 10,000.00 10,000.00 500.00 1,300.00 13.000 8,700.00 135-50030-026-000 Social Security Taxes 620.00 620.00 31.00 80.60 13.000 539.40 135-50035-026-000 Medicare Taxes 145.00 145.00 7.25 18.85 13.000 126.15 135-50040-026-000 Unemployment Taxes 210.00 210.00 4.00 10.40 4.952 199.60 135-50045-026-000 Workman's Compensation 120.00 120.00 120.00 100.000 Subtotal: 11,095.00 11,095.00 542.25 1,529.85 13.789 9,565.15 135-60066-026-000 Publications/Books/Subscripts 50.00 50.00 50.00 135-60070-026-000 Dues & Memberships 2,100.00 2,100.00 585.00 685.00 32.619 1,415.00 135-60075-026-000 Meetings 1,278.00 1,278.00 66.00 110.00 8.607 1,168.00 135-60080-026-000 Schools & Training 4,150.00 4,150.00 530.00 610.00 14.699 3,540.00 135-60100-026-000 Travel & per diem 6,199.00 6,199.00 6,199.00 135-60245-026-000 Miscellaneous Expenses 3,200.00 3,200.00 3,200.00 Subtotal: 16,977.00 16,977.00 1,181.00 1,405.00 8.276 15,572.00 135-65085-026-000 Office Supplies 50.00 50.00 50.00 Subtotal: 50.00 50.00 50.00 Program number: 28,122.00 28,122.00 1,723.25 2,934.85 10.436 25,187.15 Department number: 26 Board of Directors 28,122.00 28,122.00 1,723.25 2,934.85 10.436 25,187.15 TCMUD No. 1 Page 35 of 291 Meeting Date: December 20, 2011 . glbase_tbam rgonzale Trophy Club Entities Page 13 10:40 12/16/11 Budget Summary with Amendment Fund: 135 MUD 1 General Fund Department: 27 Manager's Office Program: Period Ending: 11/2011 Account Description Adopted Amended Total Current YTD % of Remaining Budget Budget Encumb. Month Total Budget Budget 135-50005-027-000 Salaries & Wages 236,831.00 236,831.00 13,026.05 26,679.93 11.265 210,151.07 135-50010-027-000 Overtime 1,000.00 1,000.00 419.72 621.08 62.108 378.92 135-50016-027-000 Longevity 1,845.00 1,845.00 1,845.00 1,845.00 100.000 135-50020-027-000 Retirement 33,471.00 33,471.00 2,165.17 4,127.09 12.330 29,343.91 135-50026-027-000 Medical Insurance 18,798.00 18,798.00 1,145.37 2,414.49 12.844 16,383.51 135-50027-027-000 Dental Insurance 1,242.00 1,242.00 86.90 181.52 14.615 1,060.48 135-50028-027-000 Vision Insurance 341.00 341.00 21.72 45.70 13.402 295.30 135-50029-027-000 Life Insurance & Other 1,337.00 1,337.00 1,337.00 135-50030-027-000 Social Security Taxes 14,860.00 14,860.00 910.82 1,727.91 11.628 13,132.09 135-50035-027-000 Medicare Taxes 3,475.00 3,475.00 213.05 404.15 11.630 3,070.85 135-50040-027-000 Unemployment Taxes 756.00 756.00 .03 9.97 1.319 746.03 135-50045-027-000 Workman's Compensation 580.00 580.00 580.00 100.000 135-50070-027-000 Employee Relations 5,000.00 5,000.00 54.76 111.33 2.227 4,888.67 Subtotal: 319,536.00 319,536.00 19,888.59 38,748.17 12.126 280,787.83 135-55070-027-000 Independent Labor 840.00 840.00 41.25 75.00 8.929 765.00 135-55075-027-000 Records Management 500.00 500.00 500.00 135-55160-027-000 Professional Outside Services 176,870.00 176,870.00 176,870.00 Subtotal: 178,210.00 178,210.00 41.25 75.00 .042 178,135.00 135-60005-027-000 Telephone 300.00 300.00 40.37 13.457 259.63 135-60010-027-000 Communications/Pagers/Mobiles 2,420.00 2,420.00 278.66 278.66 11.515 2,141.34 135-60035-027-000 Postage 17.47 255.39 255.39- 135-60066-027-000 Publications/Books/Subscripts 450.00 450.00 88.50 88.50 19.667 361.50 135-60070-027-000 Dues & Memberships 1,742.00 1,742.00 474.00 724.00 41.561 1,018.00 135-60075-027-000 Meetings 312.00 312.00 312.00 135-60080-027-000 Schools & Training 2,555.00 2,555.00 130.00 5.088 2,425.00 135-60100-027-000 Travel & per diem 3,851.00 3,851.00 61.05 97.90 2.542 3,753.10 135-60115-027-000 Elections 2,500.00 2,500.00 2,500.00 135-60125-027-000 Advertising 4,700.00 4,700.00 4,700.00 135-60245-027-000 Miscellaneous Expenses 100.00 100.00 100.00 135-60270-027-000 4th of July Celebration 10,000.00 10,000.00 10,000.00 135-60360-027-000 Furniture/Equipment < $5000 2,225.00 2,225.00 2,225.00 Subtotal: 31,155.00 31,155.00 919.68 1,614.82 5.183 29,540.18 135-65085-027-000 Office Supplies 2,450.00 2,450.00 71.57 189.23 7.724 2,260.77 135-65105-027-000 Printing 515.00 515.00 515.00 Subtotal: 2,965.00 2,965.00 71.57 189.23 6.382 2,775.77 Program number: 531,866.00 531,866.00 20,921.09 40,627.22 7.639 491,238.78 TCMUD No. 1 Page 36 of 291 Meeting Date: December 20, 2011 . glbase_tbam rgonzale Trophy Club Entities Page 14 10:40 12/16/11 Budget Summary with Amendment Fund: 135 MUD 1 General Fund Department: 27 Manager's Office Program: Period Ending: 11/2011 Account Description Adopted Amended Total Current YTD % of Remaining Budget Budget Encumb. Month Total Budget Budget Department number: 27 Manager's Office 531,866.00 531,866.00 20,921.09 40,627.22 7.639 491,238.78 TCMUD No. 1 Page 37 of 291 Meeting Date: December 20, 2011 . glbase_tbam rgonzale Trophy Club Entities Page 15 10:40 12/16/11 Budget Summary with Amendment Fund: 135 MUD 1 General Fund Department: 28 Human Resources Program: Period Ending: 11/2011 Account Description Adopted Amended Total Current YTD % of Remaining Budget Budget Encumb. Month Total Budget Budget 135-50070-028-000 Employee Relations 1,967.00 1,967.00 293.83 343.94 17.486 1,623.06 135-50075-028-000 Tuition Reimbursement 1,561.00 1,561.00 1,561.00 Subtotal: 3,528.00 3,528.00 293.83 343.94 9.749 3,184.06 135-60005-028-000 Telephone 28.00 28.00 28.00 135-60035-028-000 Postage 106.00 106.00 106.00 135-60066-028-000 Publications/Books/Subscripts 485.00 485.00 485.00 135-60070-028-000 Dues & Memberships 555.00 555.00 555.00 135-60075-028-000 Meetings 138.00 138.00 138.00 135-60080-028-000 Schools & Training 594.00 594.00 594.00 135-60100-028-000 Travel & per diem 8.00 8.00 8.00 135-60110-028-000 Physicals/Testing 1,560.00 1,560.00 1,560.00 Subtotal: 3,474.00 3,474.00 3,474.00 135-65085-028-000 Office Supplies 437.00 437.00 437.00 135-65105-028-000 Printing 116.00 116.00 116.00 Subtotal: 553.00 553.00 553.00 Program number: 7,555.00 7,555.00 293.83 343.94 4.552 7,211.06 Department number: 28 Human Resources 7,555.00 7,555.00 293.83 343.94 4.552 7,211.06 TCMUD No. 1 Page 38 of 291 Meeting Date: December 20, 2011 . glbase_tbam rgonzale Trophy Club Entities Page 16 10:40 12/16/11 Budget Summary with Amendment Fund: 135 MUD 1 General Fund Department: 29 Finance Program: Period Ending: 11/2011 Account Description Adopted Amended Total Current YTD % of Remaining Budget Budget Encumb. Month Total Budget Budget 135-50005-029-000 Salaries & Wages 94,404.00 94,404.00 7,492.63 14,992.63 15.881 79,411.37 135-50010-029-000 Overtime 1,000.00 1,000.00 408.58 596.36 59.636 403.64 135-50016-029-000 Longevity 1,823.00 1,823.00 1,822.50 1,822.50 99.973 .50 135-50020-029-000 Retirement 13,612.00 13,612.00 1,376.88 2,465.46 18.112 11,146.54 135-50026-029-000 Medical Insurance 11,060.00 11,060.00 921.69 1,843.04 16.664 9,216.96 135-50027-029-000 Dental Insurance 773.00 773.00 73.54 147.03 19.021 625.97 135-50028-029-000 Vision Insurance 207.00 207.00 12.51 25.00 12.077 182.00 135-50029-029-000 Life Insurance & Other 567.00 567.00 567.00 135-50030-029-000 Social Security Taxes 5,386.00 5,386.00 534.63 943.06 17.509 4,442.94 135-50035-029-000 Medicare Taxes 1,260.00 1,260.00 125.03 220.55 17.504 1,039.45 135-50040-029-000 Unemployment Taxes 284.00 284.00 284.00 135-50045-029-000 Workman's Compensation 235.00 235.00 211.00 89.787 24.00 Subtotal: 130,611.00 130,611.00 12,767.99 23,266.63 17.814 107,344.37 135-55160-029-000 Professional Outside Services 5,000.00 5,000.00 5,000.00 Subtotal: 5,000.00 5,000.00 5,000.00 135-60005-029-000 Telephone 103.00 103.00 11.44 11.107 91.56 135-60010-029-000 Communications/Pagers/Mobiles 683.00 683.00 98.41 98.41 14.408 584.59 135-60035-029-000 Postage 700.00 700.00 26.40 59.84 8.549 640.16 135-60040-029-000 Service Charges & Fees 79.00 79.00 79.00 135-60066-029-000 Publications/Books/Subscripts 500.00 500.00 500.00 135-60070-029-000 Dues & Memberships 660.00 660.00 660.00 135-60075-029-000 Meetings 300.00 300.00 22.00 7.333 278.00 135-60080-029-000 Schools & Training 2,000.00 2,000.00 2,000.00 135-60100-029-000 Travel & per diem 1,500.00 1,500.00 15.04 1.003 1,484.96 135-60125-029-000 Advertising 1,210.00 1,210.00 1,210.00 135-60245-029-000 Miscellaneous Expenses 200.00 200.00 200.00 Subtotal: 7,935.00 7,935.00 124.81 206.73 2.605 7,728.27 135-65085-029-000 Office Supplies 849.00 849.00 11.80 11.80 1.390 837.20 135-65105-029-000 Printing 515.00 515.00 515.00 Subtotal: 1,364.00 1,364.00 11.80 11.80 .865 1,352.20 Program number: 144,910.00 144,910.00 12,904.60 23,485.16 16.207 121,424.84 Department number: 29 Finance 144,910.00 144,910.00 12,904.60 23,485.16 16.207 121,424.84 TCMUD No. 1 Page 39 of 291 Meeting Date: December 20, 2011 . glbase_tbam rgonzale Trophy Club Entities Page 17 10:40 12/16/11 Budget Summary with Amendment Fund: 135 MUD 1 General Fund Department: 33 Information Systems Program: Period Ending: 11/2011 Account Description Adopted Amended Total Current YTD % of Remaining Budget Budget Encumb. Month Total Budget Budget 135-55030-033-000 Software & Support 64,149.00 64,149.00 7,065.92 8,813.68 13.739 55,335.32 135-55070-033-000 Independent Labor 1,650.00 1,650.00 218.75 13.258 1,431.25 Subtotal: 65,799.00 65,799.00 7,065.92 9,032.43 13.727 56,766.57 135-60005-033-000 Telephone 6,540.00 6,540.00 820.62 1,638.87 25.059 4,901.13 135-60235-033-000 Security 1,350.00 1,350.00 1,350.00 Subtotal: 7,890.00 7,890.00 820.62 1,638.87 20.771 6,251.13 135-65055-033-000 Hardware 83,238.00 83,238.00 3,745.72 5,885.08 7.070 77,352.92 135-65085-033-000 Office Supplies 371.00 371.00 107.12 107.12 28.873 263.88 135-65090-033-000 Printer Supplies & Maintenance 5,732.00 5,732.00 1,036.50 1,626.38 28.374 4,105.62 Subtotal: 89,341.00 89,341.00 4,889.34 7,618.58 8.528 81,722.42 135-69170-033-000 Copier Lease Installments 3,450.00 3,450.00 256.85 256.85 7.445 3,193.15 135-69195-033-000 Gasb34/Reserve for Replacement 26,911.00 26,911.00 26,911.00 Subtotal: 30,361.00 30,361.00 256.85 256.85 .846 30,104.15 Program number: 193,391.00 193,391.00 13,032.73 18,546.73 9.590 174,844.27 Department number: 33 Information Systems 193,391.00 193,391.00 13,032.73 18,546.73 9.590 174,844.27 TCMUD No. 1 Page 40 of 291 Meeting Date: December 20, 2011 . glbase_tbam rgonzale Trophy Club Entities Page 18 10:40 12/16/11 Budget Summary with Amendment Fund: 135 MUD 1 General Fund Department: 37 Facilities Maintenance Program: Period Ending: 11/2011 Account Description Adopted Amended Total Current YTD % of Remaining Budget Budget Encumb. Month Total Budget Budget 135-50005-037-000 Salaries & Wages 31,512.00 31,512.00 31,512.00 135-50020-037-000 Retirement 4,412.00 4,412.00 4,412.00 135-50026-037-000 Medical Insurance 9,027.00 9,027.00 9,027.00 135-50027-037-000 Dental Insurance 549.00 549.00 549.00 135-50028-037-000 Vision Insurance 138.00 138.00 138.00 135-50029-037-000 Life Insurance & Other 228.00 228.00 228.00 135-50030-037-000 Social Security Taxes 1,954.00 1,954.00 1,954.00 135-50035-037-000 Medicare Taxes 457.00 457.00 457.00 135-50040-037-000 Unemployment Taxes 189.00 189.00 189.00 135-50045-037-000 Workman's Compensation 861.00 861.00 861.00 100.000 135-50060-037-000 Pre-emp Physicals/Testing 250.00 250.00 250.00 Subtotal: 49,577.00 49,577.00 861.00 1.737 48,716.00 135-55100-037-000 Building Maint & Supplies 5,000.00 5,000.00 155.88 187.86 3.757 4,812.14 135-55120-037-000 Cleaning Services 1,549.89 2,228.07 2,228.07- Subtotal: 5,000.00 5,000.00 1,705.77 2,415.93 48.319 2,584.07 135-60020-037-000 Electricity 21,940.00 21,940.00 976.26 1,403.71 6.398 20,536.29 135-60025-037-000 Water 1,093.00 1,093.00 42.96 120.85 11.057 972.15 135-60030-037-000 Rent And/Or Usage 13,182.00 13,182.00 1,098.51 2,197.02 16.667 10,984.98 135-60055-037-000 Insurance 32,635.00 32,635.00 28,589.50 87.604 4,045.50 135-60360-037-000 Furniture/Equipment < $5000 2,500.00 2,500.00 2,500.00 Subtotal: 71,350.00 71,350.00 2,117.73 32,311.08 45.285 39,038.92 135-65095-037-000 Maintenance Supplies 2,205.00 2,205.00 23.51 191.73 8.695 2,013.27 135-65097-037-000 Vending Machine Supplies 1,000.00 1,000.00 19.69 1.969 980.31 Subtotal: 3,205.00 3,205.00 23.51 211.42 6.597 2,993.58 Program number: 129,132.00 129,132.00 3,847.01 35,799.43 27.723 93,332.57 Department number: 37 Facilities Maintenance 129,132.00 129,132.00 3,847.01 35,799.43 27.723 93,332.57 TCMUD No. 1 Page 41 of 291 Meeting Date: December 20, 2011 . glbase_tbam rgonzale Trophy Club Entities Page 19 10:40 12/16/11 Budget Summary with Amendment Fund: 135 MUD 1 General Fund Department: 38 Utility Billing Program: Period Ending: 11/2011 Account Description Adopted Amended Total Current YTD % of Remaining Budget Budget Encumb. Month Total Budget Budget 135-50005-038-000 Salaries & Wages 84,946.00 84,946.00 6,568.50 13,144.26 15.474 71,801.74 135-50010-038-000 Overtime 2,000.00 2,000.00 30.28 55.23 2.762 1,944.77 135-50016-038-000 Longevity 220.00 220.00 220.00 220.00 100.000 135-50020-038-000 Retirement 12,203.00 12,203.00 965.53 1,900.18 15.571 10,302.82 135-50026-038-000 Medical Insurance 12,321.00 12,321.00 924.36 1,848.72 15.005 10,472.28 135-50027-038-000 Dental Insurance 1,026.00 1,026.00 91.66 183.32 17.867 842.68 135-50028-038-000 Vision Insurance 260.00 260.00 21.62 43.25 16.635 216.75 135-50029-038-000 Life Insurance & Other 604.00 604.00 604.00 135-50030-038-000 Social Security Taxes 5,404.00 5,404.00 386.98 760.46 14.072 4,643.54 135-50035-038-000 Medicare Taxes 1,264.00 1,264.00 90.50 177.84 14.070 1,086.16 135-50040-038-000 Unemployment Taxes 473.00 473.00 .04 10.02 2.118 462.98 135-50045-038-000 Workman's Compensation 211.00 211.00 235.00 111.374 24.00- Subtotal: 120,932.00 120,932.00 9,299.47 18,578.28 15.363 102,353.72 135-55070-038-000 Independent Labor 800.00 800.00 800.00 135-55205-038-000 Utility Billing Contract 11,000.00 11,000.00 917.72 8.343 10,082.28 Subtotal: 11,800.00 11,800.00 917.72 7.777 10,882.28 135-60005-038-000 Telephone 100.00 100.00 20.91 20.910 79.09 135-60010-038-000 Communications/Pagers/Mobiles 472.00 472.00 68.47 68.47 14.506 403.53 135-60035-038-000 Postage 18,000.00 18,000.00 1,403.12 7.795 16,596.88 135-60040-038-000 Service Charges & Fees 18,000.00 18,000.00 3,293.51 6,460.01 35.889 11,539.99 135-60070-038-000 Dues & Memberships 71.00 71.00 71.00 135-60080-038-000 Schools & Training 800.00 800.00 800.00 135-60100-038-000 Travel & per diem 605.00 605.00 605.00 135-60130-038-000 Reg Assessment Fee (5%) 22,500.00 22,500.00 22,500.00 135-60245-038-000 Miscellaneous Expenses 200.00 200.00 200.00 Subtotal: 60,748.00 60,748.00 3,361.98 7,952.51 13.091 52,795.49 135-65085-038-000 Office Supplies 700.00 700.00 13.80 53.74 7.677 646.26 135-65105-038-000 Printing 3,250.00 3,250.00 3,250.00 Subtotal: 3,950.00 3,950.00 13.80 53.74 1.361 3,896.26 Program number: 197,430.00 197,430.00 12,675.25 27,502.25 13.930 169,927.75 Department number: 38 Utility Billing 197,430.00 197,430.00 12,675.25 27,502.25 13.930 169,927.75 TCMUD No. 1 Page 42 of 291 Meeting Date: December 20, 2011 . glbase_tbam rgonzale Trophy Club Entities Page 20 10:40 12/16/11 Budget Summary with Amendment Fund: 135 MUD 1 General Fund Department: 39 Non Departmental Program: Period Ending: 11/2011 Account Description Adopted Amended Total Current YTD % of Remaining Budget Budget Encumb. Month Total Budget Budget 135-55045-039-000 Legal 55,000.00 55,000.00 6,590.00 6,590.00 11.982 48,410.00 135-55055-039-000 Auditing 20,200.00 20,200.00 5,050.00 25.000 15,150.00 135-55060-039-000 Appraisal 20,000.00 20,000.00 5,472.82 8,533.65 42.668 11,466.35 135-55065-039-000 Tax Admin Fees 3,629.00 3,629.00 2,451.63 2,451.63 67.557 1,177.37 Subtotal: 98,829.00 98,829.00 14,514.45 22,625.28 22.893 76,203.72 Program number: 98,829.00 98,829.00 14,514.45 22,625.28 22.893 76,203.72 Department number: 39 Non Departmental 98,829.00 98,829.00 14,514.45 22,625.28 22.893 76,203.72 Expenditures Subtotal ----------- 6,094,978.00 6,094,978.00 47,718.25 935,133.10 1,204,173.31 19.757 4,890,804.69 Fund number: 135 MUD 1 General Fund 47,718.25 524,346.18 264,527.31 264,527.31- TCMUD No. 1 Page 43 of 291 Meeting Date: December 20, 2011 . glbase_tbam rgonzale Trophy Club Entities Page 21 10:40 12/16/11 Budget Summary with Amendment Fund: 522 2010 GO/Fire Station Department: Revenues Program: Period Ending: 11/2011 Account Description Adopted Amended Total Current YTD % of Remaining Budget Budget Encumb. Month Total Budget Budget 522-49025-000-000 Auction Sales 22,570.00- 22,570.00 Subtotal: 22,570.00- 22,570.00 Program number: 22,570.00- 22,570.00 Department number: Revenues 22,570.00- 22,570.00 Revenues Subtotal ----------- 22,570.00- 22,570.00 TCMUD No. 1 Page 44 of 291 Meeting Date: December 20, 2011 . glbase_tbam rgonzale Trophy Club Entities Page 22 10:40 12/16/11 Budget Summary with Amendment Fund: 522 2010 GO/Fire Station Department: 65 Construction Program: Period Ending: 11/2011 Account Description Adopted Amended Total Current YTD % of Remaining Budget Budget Encumb. Month Total Budget Budget 522-60031-065-000 Temporary Housing & Storage 41.58 41.58- Subtotal: 41.58 41.58- Program number: 41.58 41.58- Department number: 65 Construction 41.58 41.58- Expenditures Subtotal ----------- 41.58 41.58- Fund number: 522 2010 GO/Fire Station 22,528.42- 22,528.42 TCMUD No. 1 Page 45 of 291 Meeting Date: December 20, 2011 . glbase_tbam rgonzale Trophy Club Entities Page 23 10:40 12/16/11 Budget Summary with Amendment Fund: 533 MUD 1 I&S CONSOLIDATED Department: Revenues Program: Period Ending: 11/2011 Account Description Adopted Amended Total Current YTD % of Remaining Budget Budget Encumb. Month Total Budget Budget 533-40000-000-000 Property Taxes 550,663.00- 550,663.00- 31,603.67- 33,667.41- 6.114 516,995.59- 533-40002-000-000 Property Taxes/Delinquent 277.70- 1,499.81 1,499.81- 533-40015-000-000 Property Taxes/P & I 5,017.00- 5,017.00- 38.11- 223.21- 4.449 4,793.79- Subtotal: 555,680.00- 555,680.00- 31,919.48- 32,390.81- 5.829 523,289.19- 533-48005-000-000 Utility Fees 6,120.00- 6,120.00- 6,120.00- 100.000 Subtotal: 6,120.00- 6,120.00- 6,120.00- 100.000 533-49010-000-000 Interest Income 500.00- 500.00- 10.70- 18.39- 3.678 481.61- 533-49015-000-000 Lease/Rental Income 308,000.00- 308,000.00- 308,000.00- Subtotal: 308,500.00- 308,500.00- 10.70- 18.39- .006 308,481.61- Program number: 870,300.00- 870,300.00- 31,930.18- 38,529.20- 4.427 831,770.80- Department number: Revenues 870,300.00- 870,300.00- 31,930.18- 38,529.20- 4.427 831,770.80- Revenues Subtotal ----------- 870,300.00- 870,300.00- 31,930.18- 38,529.20- 4.427 831,770.80- TCMUD No. 1 Page 46 of 291 Meeting Date: December 20, 2011 . glbase_tbam rgonzale Trophy Club Entities Page 24 10:40 12/16/11 Budget Summary with Amendment Fund: 533 MUD 1 I&S CONSOLIDATED Department: 51 Administration Program: Period Ending: 11/2011 Account Description Adopted Amended Total Current YTD % of Remaining Budget Budget Encumb. Month Total Budget Budget 533-70005-051-000 Paying Agent Fee 4,000.00 4,000.00 4,000.00 533-70025-051-000 Bond Interest Expense 301,300.00 301,300.00 301,300.00 533-70035-051-000 Bond Principal Payment 565,000.00 565,000.00 565,000.00 Subtotal: 870,300.00 870,300.00 870,300.00 Program number: 870,300.00 870,300.00 870,300.00 Department number: 51 Administration 870,300.00 870,300.00 870,300.00 Expenditures Subtotal ----------- 870,300.00 870,300.00 870,300.00 Fund number: 533 MUD 1 I&S CONSOLIDATED 31,930.18- 38,529.20- 38,529.20 ******* End of Report ********* TCMUD No. 1 Page 47 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 1 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 122 Trophy Club MUD Fire Dept. Department: Fire Revenues Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 122-40001-000-000 Assessment - Emerg Svcs 147 11/01/2011 Property Taxes PROPERTY TAXES (3,760.12) (2,657.49) (6,417.61) GL 148 11/02/2011 Property Taxes PROPERTY TAXES (333.21) (6,750.82) GL 149 11/03/2011 Property Taxes PROPERTY TAXES (137.49) (6,888.31) GL 150 11/04/2011 Property Taxes PROPERTY TAXES (462.16) (7,350.47) GL 152 11/08/2011 PROPERTY TAXES (430.95) (7,781.42) GL 81 11/09/2011 PROPERTY TAXES (518.94) (8,300.36) GL 154 11/10/2011 PROPERTY TAXES (295.17) (8,595.53) GL 155 11/14/2011 PROPERTY TAXES PROPERTY TAXES (27.84) (8,623.37) GL 156 11/15/2011 PROPERTY TAXES (3,972.69) (12,596.06) GL 157 11/17/2011 PROPERTY TAXES (97.62) (12,693.68) GL 158 11/18/2011 PROPERTY TAXES (1,053.74) (13,747.42) GL 159 11/21/2011 PROPERTY TAXES (627.04) (14,374.46) GL 160 11/22/2011 PROPERTY TAXES (775.90) (15,150.36) GL 162 11/28/2011 PROPERTY TAXES (476.37) (15,626.73) GL 163 11/29/2011 PROPERTY TAXES (640.15) (16,266.88) GL 164 11/30/2011 PROPERTY TAXES (38.35) (16,305.23) GL _______________ Account: 122-40001-000-000 Assessment - Emerg Svcs Totals: (12,545.11) (16,305.23) ** (193,233.00) Budgeted (176,927.77) Remaining 8 % Used Account: 122-40003-000-000 Emer Svcs Assessmen/Delinquent (7.75) .00 (7.75) _______________ Account: 122-40003-000-000 Emer Svcs Assessmen/Delinquent Totals: .00 (7.75) ** .00 Budgeted 7.75 Remaining 0 % Used Account: 122-40010-000-000 Property Taxes/MUD Fire 147 11/01/2011 Property Taxes PROPERTY TAXES (4,036.29) (5,025.33) (9,061.62) GL 148 11/02/2011 Property Taxes PROPERTY TAXES (1,029.94) (10,091.56) GL 149 11/03/2011 Property Taxes PROPERTY TAXES (1,775.96) (11,867.52) GL 150 11/04/2011 Property Taxes PROPERTY TAXES (2,575.00) (14,442.52) GL 151 11/07/2011 Property Taxes PROPERTY TAXES (1.21) (14,443.73) GL 152 11/08/2011 PROPERTY TAXES (2,248.27) (16,692.00) GL 81 11/09/2011 PROPERTY TAXES (2,577.83) (19,269.83) GL 154 11/10/2011 PROPERTY TAXES (1,513.10) (20,782.93) GL 155 11/14/2011 PROPERTY TAXES PROPERTY TAXES (2,749.91) (23,532.84) GL 156 11/15/2011 PROPERTY TAXES (5,180.33) (28,713.17) GL 94 11/16/2011 PROPERTY TAXES (1,434.32) (30,147.49) GL 157 11/17/2011 PROPERTY TAXES (1,068.78) (31,216.27) GL 158 11/18/2011 PROPERTY TAXES (3,370.13) (34,586.40) GL TCMUD No. 1 Page 48 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 2 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 122 Trophy Club MUD Fire Dept. Department: Fire Revenues Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) 159 11/21/2011 PROPERTY TAXES (4,036.29) (21,255.70) (55,842.10) GL 160 11/22/2011 PROPERTY TAXES (1,943.40) (57,785.50) GL 161 11/23/2011 PROPERTY TAXES (1,778.66) (59,564.16) GL 162 11/28/2011 PROPERTY TAXES (197.30) (59,761.46) GL 163 11/29/2011 PROPERTY TAXES (4,047.72) (63,809.18) GL 164 11/30/2011 PROPERTY TAXES (2,036.99) (65,846.17) GL _______________ Account: 122-40010-000-000 Property Taxes/MUD Fire Totals: (61,809.88) (65,846.17) ** (1,076,976.00) Budgeted (1,011,129.83) Remaining 6 % Used Account: 122-40011-000-000 Property Taxes/Fire-Delinquent 151 11/07/2011 Property Taxes PROPERTY TAXES 2,571.23 (38.96) 2,532.27 GL 152 11/08/2011 PROPERTY TAXES (103.36) 2,428.91 GL 154 11/10/2011 PROPERTY TAXES 2.64 2,431.55 GL 156 11/15/2011 PROPERTY TAXES (.01) 2,431.54 GL 158 11/18/2011 PROPERTY TAXES 27.31 2,458.85 GL 161 11/23/2011 PROPERTY TAXES (35.76) 2,423.09 GL 163 11/29/2011 PROPERTY TAXES (162.80) 2,260.29 GL 164 11/30/2011 PROPERTY TAXES (83.24) 2,177.05 GL _______________ Account: 122-40011-000-000 Property Taxes/Fire-Delinquent Totals: (394.18) 2,177.05 ** .00 Budgeted (2,177.05) Remaining 0 % Used Account: 122-40015-000-000 Property Taxes/Assessments P&I 151 11/07/2011 Property Taxes PROPERTY TAXES (1.54) (3.88) (5.42) GL _______________ Account: 122-40015-000-000 Property Taxes/Assessments P&I Totals: (3.88) (5.42) ** .00 Budgeted 5.42 Remaining 0 % Used Account: 122-40020-000-000 Property Taxes/Fire P&I 152 11/08/2011 PROPERTY TAXES (238.74) (11.63) (250.37) GL 161 11/23/2011 PROPERTY TAXES (7.87) (258.24) GL 163 11/29/2011 PROPERTY TAXES (35.81) (294.05) GL 164 11/30/2011 PROPERTY TAXES (2.23) (296.28) GL _______________ Account: 122-40020-000-000 Property Taxes/Fire P&I Totals: (57.54) (296.28) ** (7,500.00) Budgeted (7,203.72) Remaining 4 % Used Account: 122-42014-000-000 Fire Permits/Sprinkler TCMUD No. 1 Page 49 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 3 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 122 Trophy Club MUD Fire Dept. Department: Fire Revenues Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) 924831 11/04/2011 Permits 11/4/11 Permits 11/4/11 (400.00) (400.00) GL 924835 11/10/2011 Permits 11/10/11 Permits 11/10/11 (400.00) (800.00) GL 924841 11/16/2011 Permits 11/16/11 Permits 11/16/11 (400.00) (1,200.00) GL _______________ Account: 122-42014-000-000 Fire Permits/Sprinkler Totals: (1,200.00) (1,200.00) ** .00 Budgeted 1,200.00 Remaining 0 % Used Account: 122-43400-000-000 Fire Inspections 924831 11/04/2011 Permits 11/4/11 Permits 11/4/11 (75.00) (75.00) GL 924835 11/10/2011 Permits 11/10/11 Permits 11/10/11 (75.00) (150.00) GL 924841 11/16/2011 Permits 11/16/11 Permits 11/16/11 (75.00) (225.00) GL _______________ Account: 122-43400-000-000 Fire Inspections Totals: (225.00) (225.00) ** .00 Budgeted 225.00 Remaining 0 % Used Account: 122-43415-000-000 Denton/Tarrant Cty Pledge-Fire .00 .00 _______________ Account: 122-43415-000-000 Denton/Tarrant Cty Pledge-Fire Totals: .00 .00 ** (10,000.00) Budgeted (10,000.00) Remaining 0 % Used Account: 122-43599-000-000 Misc Fire Revenue .00 .00 _______________ Account: 122-43599-000-000 Misc Fire Revenue Totals: .00 .00 ** (1,124.00) Budgeted (1,124.00) Remaining 0 % Used Account: 122-49035-000-000 Prior Year Reserves .00 .00 _______________ Account: 122-49035-000-000 Prior Year Reserves Totals: .00 .00 ** (23,101.00) Budgeted (23,101.00) Remaining 0 % Used Account: 122-49900-000-000 Miscellaneous Income 924831 11/04/2011 Permits 11/4/11 Permits 11/4/11 (525.00) (525.00) GL 924835 11/10/2011 Permits 11/10/11 Permits 11/10/11 (625.00) (1,150.00) GL 924841 11/16/2011 Permits 11/16/11 Permits 11/16/11 (525.00) (1,675.00) GL TCMUD No. 1 Page 50 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 4 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 122 Trophy Club MUD Fire Dept. Department: Fire Revenues Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) _______________ Account: 122-49900-000-000 Miscellaneous Income Totals: (1,675.00) (1,675.00) ** .00 Budgeted 1,675.00 Remaining 0 % Used Department Totals: ------------------------------------------------------------------------------------------------ (83,383.80) ** (1,311,934.00) Budgeted (1,228,550.20) Remaining 6 % Used TCMUD No. 1 Page 51 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 5 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 122 Trophy Club MUD Fire Dept. Department: 45 Fire Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 122-50005-045-000 Salaries & Wages 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 32,428.89 15,699.74 48,128.63 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 15,851.25 63,979.88 PR _______________ Account: 122-50005-045-000 Salaries & Wages Totals: 31,550.99 63,979.88 ** 425,748.00 Budgeted 361,768.12 Remaining 15 % Used Account: 122-50010-045-000 Overtime 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 4,062.33 4,915.95 8,978.28 PR _______________ Account: 122-50010-045-000 Overtime Totals: 4,915.95 8,978.28 ** 42,000.00 Budgeted 33,021.72 Remaining 21 % Used Account: 122-50011-045-000 DPS Holiday Pay 924707 11/23/2011 Holiday Pay 11/23/11 Holiday Pay 11/23/11 13,773.02 13,773.02 PR _______________ Account: 122-50011-045-000 DPS Holiday Pay Totals: 13,773.02 13,773.02 ** 12,133.00 Budgeted (1,640.02) Remaining 114 % Used Account: 122-50016-045-000 Longevity 924705 11/23/2011 Longevity 11/23/11 Longevity 11/23/11 3,714.46 3,714.46 PR _______________ Account: 122-50016-045-000 Longevity Totals: 3,714.46 3,714.46 ** 3,647.00 Budgeted (67.46) Remaining 102 % Used Account: 122-50017-045-000 Certification 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 494.70 494.70 989.40 PR _______________ Account: 122-50017-045-000 Certification Totals: 494.70 989.40 ** 4,073.00 Budgeted 3,083.60 Remaining 24 % Used Account: 122-50020-045-000 Retirement 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 5,042.15 2,200.00 7,242.15 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 2,966.15 10,208.30 PR 924705 11/23/2011 Longevity 11/23/11 Longevity 11/23/11 525.99 10,734.29 PR 924707 11/23/2011 Holiday Pay 11/23/11 Holiday Pay 11/23/11 1,950.24 12,684.53 PR _______________ Account: 122-50020-045-000 Retirement Totals: 7,642.38 12,684.53 ** 68,264.00 Budgeted 55,579.47 Remaining 19 % Used TCMUD No. 1 Page 52 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 6 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 122 Trophy Club MUD Fire Dept. Department: 45 Fire Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 122-50026-045-000 Medical Insurance 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 3,340.28 1,663.54 5,003.82 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 1,675.83 6,679.65 PR _______________ Account: 122-50026-045-000 Medical Insurance Totals: 3,339.37 6,679.65 ** 53,184.00 Budgeted 46,504.35 Remaining 13 % Used Account: 122-50027-045-000 Dental Insurance 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 291.96 145.25 437.21 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 146.57 583.78 PR _______________ Account: 122-50027-045-000 Dental Insurance Totals: 291.82 583.78 ** 3,288.00 Budgeted 2,704.22 Remaining 18 % Used Account: 122-50028-045-000 Vision Insurance 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 65.95 32.84 98.79 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 33.06 131.85 PR _______________ Account: 122-50028-045-000 Vision Insurance Totals: 65.90 131.85 ** 857.00 Budgeted 725.15 Remaining 15 % Used Account: 122-50029-045-000 Life Insurance & Other .00 .00 _______________ Account: 122-50029-045-000 Life Insurance & Other Totals: .00 .00 ** 2,740.00 Budgeted 2,740.00 Remaining 0 % Used Account: 122-50030-045-000 Social Security Taxes 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 2,106.90 880.58 2,987.48 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 1,224.86 4,212.34 PR 924705 11/23/2011 Longevity 11/23/11 Longevity 11/23/11 230.30 4,442.64 PR 924707 11/23/2011 Holiday Pay 11/23/11 Holiday Pay 11/23/11 853.93 5,296.57 PR _______________ Account: 122-50030-045-000 Social Security Taxes Totals: 3,189.67 5,296.57 ** 30,231.00 Budgeted 24,934.43 Remaining 18 % Used Account: 122-50035-045-000 Medicare Taxes 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 492.78 205.91 698.69 PR TCMUD No. 1 Page 53 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 7 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 122 Trophy Club MUD Fire Dept. Department: 45 Fire Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 492.78 286.46 985.15 PR 924705 11/23/2011 Longevity 11/23/11 Longevity 11/23/11 53.87 1,039.02 PR 924707 11/23/2011 Holiday Pay 11/23/11 Holiday Pay 11/23/11 199.70 1,238.72 PR _______________ Account: 122-50035-045-000 Medicare Taxes Totals: 745.94 1,238.72 ** 7,070.00 Budgeted 5,831.28 Remaining 18 % Used Account: 122-50040-045-000 Unemployment Taxes 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 24.54 6.04 30.58 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 2.52 33.10 PR _______________ Account: 122-50040-045-000 Unemployment Taxes Totals: 8.56 33.10 ** 1,476.00 Budgeted 1,442.90 Remaining 2 % Used Account: 122-50045-045-000 Workman's Compensation 8,309.50 .00 8,309.50 _______________ Account: 122-50045-045-000 Workman's Compensation Totals: .00 8,309.50 ** 8,793.00 Budgeted 483.50 Remaining 95 % Used Account: 122-50060-045-000 Pre-employment Physicals/Test 188 11/30/2011 November A/P Pre-employment physicals, Jara 35.00 35.00 CARENOW CORPORATE 31075 AP _______________ Account: 122-50060-045-000 Pre-employment Physicals/Test Totals: 35.00 35.00 ** 675.00 Budgeted 640.00 Remaining 5 % Used Account: 122-55080-045-000 Maintenance & Repairs 188 11/30/2011 November A/P NOVEMBER PCARDS 79.21 79.21 JPMORGAN CHASE BANK NA 31080 AP _______________ Account: 122-55080-045-000 Maintenance & Repairs Totals: 79.21 79.21 ** 9,562.00 Budgeted 9,482.79 Remaining 1 % Used Account: 122-55090-045-000 Vehicle Maintenance .00 .00 _______________ Account: 122-55090-045-000 Vehicle Maintenance Totals: .00 .00 ** 14,850.00 Budgeted 14,850.00 Remaining 0 % Used TCMUD No. 1 Page 54 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 8 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 122 Trophy Club MUD Fire Dept. Department: 45 Fire Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 122-55095-045-000 Equipment Maintenance .00 .00 _______________ Account: 122-55095-045-000 Equipment Maintenance Totals: .00 .00 ** 9,808.00 Budgeted 9,808.00 Remaining 0 % Used Account: 122-55100-045-000 Building Maintenance 924376 11/11/2011 Accounts Payable Quarterly pest control 711.65 140.00 851.65 Gann's Pest Control AP 925154 11/11/2011 Firefighter Cable reimb Firefighter Cable reimb (240.00) 611.65 GL 188 11/30/2011 November A/P NOVEMBER PCARDS 78.36 690.01 JPMORGAN CHASE BANK NA 31080 AP 188 11/30/2011 November A/P NOVEMBER PCARDS 465.64 1,155.65 JPMORGAN CHASE BANK NA 31080 AP 188 11/30/2011 November A/P NOVEMBER PCARDS 23.01 1,178.66 JPMORGAN CHASE BANK NA 31080 AP 188 11/30/2011 November A/P NOVEMBER PCARDS 59.91 1,238.57 JPMORGAN CHASE BANK NA 31080 AP 188 11/30/2011 November A/P NOVEMBER PCARDS 37.06 1,275.63 JPMORGAN CHASE BANK NA 31080 AP 188 11/30/2011 November A/P NOVEMBER PCARDS 93.40 1,369.03 JPMORGAN CHASE BANK NA 31080 AP 188 11/30/2011 November A/P NOVEMBER PCARDS 283.23 1,652.26 JPMORGAN CHASE BANK NA 31080 AP 188 11/30/2011 November A/P NOVEMBER PCARDS 26.21 1,678.47 JPMORGAN CHASE BANK NA 31080 AP 188 11/30/2011 November A/P NOVEMBER PCARDS (215.32) 1,463.15 JPMORGAN CHASE BANK NA 31080 AP 188 11/30/2011 November A/P NOVEMBER PCARDS 166.40 1,629.55 JPMORGAN CHASE BANK NA 31080 AP 188 11/30/2011 November A/P NOVEMBER PCARDS 47.00 1,676.55 JPMORGAN CHASE BANK NA 31080 AP 188 11/30/2011 November A/P NOVEMBER PCARDS 28.94 1,705.49 JPMORGAN CHASE BANK NA 31080 AP _______________ Account: 122-55100-045-000 Building Maintenance Totals: 993.84 1,705.49 ** 11,000.00 Budgeted 9,294.51 Remaining 16 % Used Account: 122-55110-045-000 Maintenance-Radios .00 .00 _______________ Account: 122-55110-045-000 Maintenance-Radios Totals: .00 .00 ** 1,103.00 Budgeted 1,103.00 Remaining 0 % Used Account: 122-55160-045-000 Professional Outside Services .00 .00 _______________ Account: 122-55160-045-000 Professional Outside Services Totals: .00 .00 ** 20,000.00 Budgeted 20,000.00 Remaining 0 % Used Account: 122-60005-045-000 Telephone 11.09 .00 11.09 TCMUD No. 1 Page 55 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 9 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 122 Trophy Club MUD Fire Dept. Department: 45 Fire Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) _______________ Account: 122-60005-045-000 Telephone Totals: .00 11.09 ** 106.00 Budgeted 94.91 Remaining 10 % Used Account: 122-60010-045-000 Communications/Pagers/Mobiles 924388 11/01/2011 Accounts Payable Cell phones 30.98 187.63 218.61 Verizon Wireless AP 925042 11/27/2011 Accounts Payable Pastor 29.77 248.38 Bank of America AP 188 11/30/2011 November A/P November cell phones 191.90 440.28 WEST PUBLISHING CORPORATION 31094 AP _______________ Account: 122-60010-045-000 Communications/Pagers/Mobiles Totals: 409.30 440.28 ** 4,411.00 Budgeted 3,970.72 Remaining 10 % Used Account: 122-60020-045-000 Electricity 924420 11/10/2011 Accounts Payable Electricity 600.93 758.14 1,359.07 Hudson Energy AP 925110 11/29/2011 Accounts Payable Gas/Fire station 185.62 1,544.69 Atmos Energy AP _______________ Account: 122-60020-045-000 Electricity Totals: 943.76 1,544.69 ** 18,270.00 Budgeted 16,725.31 Remaining 8 % Used Account: 122-60025-045-000 Water 188 11/30/2011 November A/P November water 921.31 79.01 1,000.32 TROPHY CLUB MUD (WATER BILLS) 31091 AP 188 11/30/2011 November A/P November water 105.22 1,105.54 TROPHY CLUB MUD (WATER BILLS) 31091 AP _______________ Account: 122-60025-045-000 Water Totals: 184.23 1,105.54 ** 3,289.00 Budgeted 2,183.46 Remaining 34 % Used Account: 122-60030-045-000 Rent And/Or Usage .00 .00 _______________ Account: 122-60030-045-000 Rent And/Or Usage Totals: .00 .00 ** 308,000.00 Budgeted 308,000.00 Remaining 0 % Used Account: 122-60035-045-000 Postage 925146 11/30/2011 November Postage Meter November Postage Meter 8.87 1.72 10.59 GL _______________ Account: 122-60035-045-000 Postage Totals: 1.72 10.59 ** 97.00 Budgeted 86.41 Remaining 11 % Used TCMUD No. 1 Page 56 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 10 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 122 Trophy Club MUD Fire Dept. Department: 45 Fire Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 122-60055-045-000 Insurance 8,078.00 .00 8,078.00 _______________ Account: 122-60055-045-000 Insurance Totals: .00 8,078.00 ** 20,974.00 Budgeted 12,896.00 Remaining 39 % Used Account: 122-60066-045-000 Publications/Books/Subscrips .00 .00 _______________ Account: 122-60066-045-000 Publications/Books/Subscrips Totals: .00 .00 ** 401.00 Budgeted 401.00 Remaining 0 % Used Account: 122-60070-045-000 Dues & Memberships 924635 11/21/2011 Accounts Payable Dues/Danny Thomas 5,176.34 100.00 5,276.34 Tarrant County Fire Chiefs AP 188 11/30/2011 November A/P NOVEMBER PCARDS 150.00 5,426.34 JPMORGAN CHASE BANK NA 31080 AP _______________ Account: 122-60070-045-000 Dues & Memberships Totals: 250.00 5,426.34 ** 8,560.00 Budgeted 3,133.66 Remaining 63 % Used Account: 122-60080-045-000 Schools & Training 188 11/30/2011 November A/P NOVEMBER PCARDS 83.47 83.47 JPMORGAN CHASE BANK NA 31080 AP _______________ Account: 122-60080-045-000 Schools & Training Totals: 83.47 83.47 ** 6,946.00 Budgeted 6,862.53 Remaining 1 % Used Account: 122-60096-045-000 Emergency Management 923683 11/02/2011 Accounts Payable Emergency Mgmt 2011-12 1,000.00 1,000.00 North Central Texas COG AP _______________ Account: 122-60096-045-000 Emergency Management Totals: 1,000.00 1,000.00 ** 1,000.00 Budgeted .00 Remaining 100 % Used Account: 122-60100-045-000 Travel & per diem 1,620.88 .00 1,620.88 _______________ Account: 122-60100-045-000 Travel & per diem Totals: .00 1,620.88 ** 6,788.00 Budgeted 5,167.12 Remaining 24 % Used Account: 122-60110-045-000 Physicals/Testing TCMUD No. 1 Page 57 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 11 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 122 Trophy Club MUD Fire Dept. Department: 45 Fire Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) .00 .00 _______________ Account: 122-60110-045-000 Physicals/Testing Totals: .00 .00 ** 1,918.00 Budgeted 1,918.00 Remaining 0 % Used Account: 122-60125-045-000 Advertising .00 .00 _______________ Account: 122-60125-045-000 Advertising Totals: .00 .00 ** 156.00 Budgeted 156.00 Remaining 0 % Used Account: 122-60160-045-000 Programs & Special Projects 624.91 .00 624.91 _______________ Account: 122-60160-045-000 Programs & Special Projects Totals: .00 624.91 ** 4,162.00 Budgeted 3,537.09 Remaining 15 % Used Account: 122-60180-045-000 Fire Inspection/Enforcement 188 11/30/2011 November A/P NOVEMBER PCARDS 181.00 181.00 JPMORGAN CHASE BANK NA 31080 AP _______________ Account: 122-60180-045-000 Fire Inspection/Enforcement Totals: 181.00 181.00 ** 1,900.00 Budgeted 1,719.00 Remaining 10 % Used Account: 122-60195-045-000 Flags & Repair 402.50 .00 402.50 _______________ Account: 122-60195-045-000 Flags & Repair Totals: .00 402.50 ** 2,543.00 Budgeted 2,140.50 Remaining 16 % Used Account: 122-60245-045-000 Miscellaneous Expense 188 11/30/2011 November A/P NOVEMBER PCARDS 26.25 26.25 JPMORGAN CHASE BANK NA 31080 AP _______________ Account: 122-60245-045-000 Miscellaneous Expense Totals: 26.25 26.25 ** 1,237.00 Budgeted 1,210.75 Remaining 2 % Used Account: 122-65005-045-000 Fuel & Lube 191 11/30/2011 November Gas Log 688.87 688.87 GL TCMUD No. 1 Page 58 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 12 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 122 Trophy Club MUD Fire Dept. Department: 45 Fire Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) _______________ Account: 122-65005-045-000 Fuel & Lube Totals: 688.87 688.87 ** 17,414.00 Budgeted 16,725.13 Remaining 4 % Used Account: 122-65010-045-000 Uniforms 188 11/30/2011 November A/P NOVEMBER PCARDS 359.00 37.50 396.50 JPMORGAN CHASE BANK NA 31080 AP _______________ Account: 122-65010-045-000 Uniforms Totals: 37.50 396.50 ** 4,357.00 Budgeted 3,960.50 Remaining 9 % Used Account: 122-65015-045-000 Protective Clothing 188 11/30/2011 November A/P NOVEMBER PCARDS 28.50 28.50 JPMORGAN CHASE BANK NA 31080 AP _______________ Account: 122-65015-045-000 Protective Clothing Totals: 28.50 28.50 ** 7,600.00 Budgeted 7,571.50 Remaining 0 % Used Account: 122-65030-045-000 Chemicals .00 .00 _______________ Account: 122-65030-045-000 Chemicals Totals: .00 .00 ** 1,545.00 Budgeted 1,545.00 Remaining 0 % Used Account: 122-65035-045-000 Small Tools 188 11/30/2011 November A/P NOVEMBER PCARDS 92.50 129.00 221.50 JPMORGAN CHASE BANK NA 31080 AP _______________ Account: 122-65035-045-000 Small Tools Totals: 129.00 221.50 ** 8,371.00 Budgeted 8,149.50 Remaining 3 % Used Account: 122-65085-045-000 Office Supplies 188 11/30/2011 November A/P NOVEMBER PCARDS 50.96 48.64 99.60 JPMORGAN CHASE BANK NA 31080 AP _______________ Account: 122-65085-045-000 Office Supplies Totals: 48.64 99.60 ** 329.00 Budgeted 229.40 Remaining 30 % Used Account: 122-65095-045-000 Maintenance Supplies 21.75 .00 21.75 TCMUD No. 1 Page 59 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 13 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 122 Trophy Club MUD Fire Dept. Department: 45 Fire Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) _______________ Account: 122-65095-045-000 Maintenance Supplies Totals: .00 21.75 ** 2,785.00 Budgeted 2,763.25 Remaining 1 % Used Account: 122-65105-045-000 Printing 925114 11/01/2011 Accounts Payable Envelopes for Fire Station ope 24.77 24.77 Fasclampitt Paper Store AP _______________ Account: 122-65105-045-000 Printing Totals: 24.77 24.77 ** 106.00 Budgeted 81.23 Remaining 23 % Used Account: 122-69006-045-000 Grant Match .00 .00 _______________ Account: 122-69006-045-000 Grant Match Totals: .00 .00 ** 3,000.00 Budgeted 3,000.00 Remaining 0 % Used Account: 122-69035-045-000 Vehicles 924625 11/08/2011 Accounts Payable 2011 Ford F150 Crewcab 10,764.78 10,764.78 Philpott Motors AP _______________ Account: 122-69035-045-000 Vehicles Totals: 10,764.78 10,764.78 ** 13,709.00 Budgeted 2,944.22 Remaining 79 % Used Account: 122-69050-045-000 Radios .00 .00 _______________ Account: 122-69050-045-000 Radios Totals: .00 .00 ** 2,500.00 Budgeted 2,500.00 Remaining 0 % Used Account: 122-69195-045-000 GASB34/Reserve for Replacement .00 .00 _______________ Account: 122-69195-045-000 GASB34/Reserve for Replacement Totals: .00 .00 ** 41,890.00 Budgeted 41,890.00 Remaining 0 % Used Account: 122-69251-045-000 Engine 681 Payment .00 .00 TCMUD No. 1 Page 60 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 14 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 122 Trophy Club MUD Fire Dept. Department: 45 Fire Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) _______________ Account: 122-69251-045-000 Engine 681 Payment Totals: .00 .00 ** 73,203.00 Budgeted 73,203.00 Remaining 0 % Used Account: 122-69255-045-000 Airpacks .00 .00 _______________ Account: 122-69255-045-000 Airpacks Totals: .00 .00 ** 13,865.00 Budgeted 13,865.00 Remaining 0 % Used Department 45 Totals: ------------------------------------------------------------------------------------------------ 161,014.25 ** 1,311,934.00 Budgeted 1,150,919.75 Remaining 12 % Used Fund 122 Totals: ------------------------------------------------------------------------------------------------------ 77,630.45 .00 Budgeted (77,630.45) Remaining 0 % Used TCMUD No. 1 Page 61 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 15 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: Revenues Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 135-40000-000-000 Property Taxes 147 11/01/2011 Property Taxes PROPERTY TAXES (365.39) (454.93) (820.32) GL 148 11/02/2011 Property Taxes PROPERTY TAXES (93.24) (913.56) GL 149 11/03/2011 Property Taxes PROPERTY TAXES (160.77) (1,074.33) GL 150 11/04/2011 Property Taxes PROPERTY TAXES (233.11) (1,307.44) GL 151 11/07/2011 Property Taxes PROPERTY TAXES (.11) (1,307.55) GL 152 11/08/2011 PROPERTY TAXES (203.53) (1,511.08) GL 81 11/09/2011 PROPERTY TAXES (233.36) (1,744.44) GL 154 11/10/2011 PROPERTY TAXES (136.97) (1,881.41) GL 155 11/14/2011 PROPERTY TAXES PROPERTY TAXES (248.94) (2,130.35) GL 156 11/15/2011 PROPERTY TAXES (468.96) (2,599.31) GL 94 11/16/2011 PROPERTY TAXES (129.84) (2,729.15) GL 157 11/17/2011 PROPERTY TAXES (96.75) (2,825.90) GL 158 11/18/2011 PROPERTY TAXES (305.09) (3,130.99) GL 159 11/21/2011 PROPERTY TAXES (1,924.20) (5,055.19) GL 160 11/22/2011 PROPERTY TAXES (175.93) (5,231.12) GL 161 11/23/2011 PROPERTY TAXES (161.02) (5,392.14) GL 162 11/28/2011 PROPERTY TAXES (17.86) (5,410.00) GL 163 11/29/2011 PROPERTY TAXES (366.42) (5,776.42) GL 164 11/30/2011 PROPERTY TAXES (184.40) (5,960.82) GL _______________ Account: 135-40000-000-000 Property Taxes Totals: (5,595.43) (5,960.82) ** (97,495.00) Budgeted (91,534.18) Remaining 6 % Used Account: 135-40002-000-000 Property Taxes/Delinquent 151 11/07/2011 Property Taxes PROPERTY TAXES 156.71 (3.13) 153.58 GL 152 11/08/2011 PROPERTY TAXES (8.32) 145.26 GL 154 11/10/2011 PROPERTY TAXES .21 145.47 GL 158 11/18/2011 PROPERTY TAXES 2.20 147.67 GL 161 11/23/2011 PROPERTY TAXES (2.88) 144.79 GL 163 11/29/2011 PROPERTY TAXES (13.10) 131.69 GL 164 11/30/2011 PROPERTY TAXES (6.70) 124.99 GL _______________ Account: 135-40002-000-000 Property Taxes/Delinquent Totals: (31.72) 124.99 ** .00 Budgeted (124.99) Remaining 0 % Used Account: 135-40015-000-000 Property Taxes/P & I 147 11/01/2011 Property Taxes RENDITION PENALTY 552.24 (.96) 551.28 GL 150 11/04/2011 Property Taxes PROPERTY TAXES (2.05) 549.23 GL 151 11/07/2011 Property Taxes PROPERTY TAXES (.32) 548.91 GL 152 11/08/2011 PROPERTY TAXES (.93) 547.98 GL TCMUD No. 1 Page 62 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 16 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: Revenues Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) 176 11/08/2011 PROPERTY TAXES RENDITION PENALTY 552.24 (8.76) 539.22 GL 81 11/09/2011 PROPERTY TAXES (.36) 538.86 GL 154 11/10/2011 PROPERTY TAXES .45 539.31 GL 155 11/14/2011 PROPERTY TAXES PROPERTY TAXES (62.77) 476.54 GL 156 11/15/2011 PROPERTY TAXES (.21) 476.33 GL 159 11/21/2011 PROPERTY TAXES (82.48) 393.85 GL 161 11/23/2011 PROPERTY TAXES (.63) 393.22 GL 163 11/29/2011 PROPERTY TAXES (2.89) 390.33 GL 164 11/30/2011 PROPERTY TAXES (.18) 390.15 GL _______________ Account: 135-40015-000-000 Property Taxes/P & I Totals: (162.09) 390.15 ** (1,334.00) Budgeted (1,724.15) Remaining -29 % Used Account: 135-47000-000-000 Water 111 11/28/2011 UB 11/28/2011 UB 20111128-20111128 User: (179,668.75) 70.78 (179,597.97) UB 125 11/30/2011 UB 11/30/11 CHARGES UB 20111130-20111130 User: (118,905.84) (298,503.81) UB 126 11/30/2011 UB 11/30/11 CREDIT ADJUSTMENTS UB 20111130-20111130 User: (2,895.44) (301,399.25) UB _______________ Account: 135-47000-000-000 Water Totals: (121,730.50) (301,399.25) ** (1,990,800.00) Budgeted (1,689,400.75) Remaining 15 % Used Account: 135-47005-000-000 Sewer 111 11/28/2011 UB 11/28/2011 UB 20111128-20111128 User: (107,204.19) 18.00 (107,186.19) UB 125 11/30/2011 UB 11/30/11 CHARGES UB 20111130-20111130 User: (86,879.58) (194,065.77) UB 126 11/30/2011 UB 11/30/11 CREDIT ADJUSTMENTS UB 20111130-20111130 User: 2,056.22 (192,009.55) UB _______________ Account: 135-47005-000-000 Sewer Totals: (84,805.36) (192,009.55) ** (1,325,000.00) Budgeted (1,132,990.45) Remaining 14 % Used Account: 135-47010-000-000 Commercial Water 125 11/30/2011 UB 11/30/11 CHARGES UB 20111130-20111130 User: (85,225.78) (51,597.59) (136,823.37) UB 126 11/30/2011 UB 11/30/11 CREDIT ADJUSTMENTS UB 20111130-20111130 User: 12.71 (136,810.66) UB _______________ Account: 135-47010-000-000 Commercial Water Totals: (51,584.88) (136,810.66) ** (825,000.00) Budgeted (688,189.34) Remaining 17 % Used Account: 135-47015-000-000 Commercial Sewer 125 11/30/2011 UB 11/30/11 CHARGES UB 20111130-20111130 User: (30,191.15) (20,555.64) (50,746.79) UB 126 11/30/2011 UB 11/30/11 CREDIT ADJUSTMENTS UB 20111130-20111130 User: 48.82 (50,697.97) UB TCMUD No. 1 Page 63 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 17 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: Revenues Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) _______________ Account: 135-47015-000-000 Commercial Sewer Totals: (20,506.82) (50,697.97) ** (360,000.00) Budgeted (309,302.03) Remaining 14 % Used Account: 135-47020-000-000 Standby 125 11/30/2011 UB 11/30/11 CHARGES UB 20111130-20111130 User: (66.00) (78.00) (144.00) UB 126 11/30/2011 UB 11/30/11 CREDIT ADJUSTMENTS UB 20111130-20111130 User: 6.00 (138.00) UB _______________ Account: 135-47020-000-000 Standby Totals: (72.00) (138.00) ** (775.00) Budgeted (637.00) Remaining 18 % Used Account: 135-47025-000-000 Penalties 71 11/04/2011 UB 11/04/2011 ADJUSTMENTS UB 20111104-20111104 User: (7,066.30) 219.24 (6,847.06) UB 75 11/08/2011 UB 11/08/2011 ADJUSTMENTS UB 20111108-20111108 User: 26.46 (6,820.60) UB 95 11/16/2011 UB 11/16/2011 ADJUSTMENTS UB 20111116-20111116 User: 7.02 (6,813.58) UB 107 11/22/2011 UB 11/22/11 CHARGES-PENALTIES UB 20111122-20111122 User: (8,880.89) (15,694.47) UB 108 11/22/2011 UB 11/22/2011 ADJUSTMENTS UB 20111122-20111122 User: 66.97 (15,627.50) UB 113 11/29/2011 UB 11/29/2011 ADJUSTMENTS UB 20111129-20111129 User: 359.54 (15,267.96) UB 126 11/30/2011 UB 11/30/11 CREDIT ADJUSTMENTS UB 20111130-20111130 User: (402.22) (15,670.18) UB _______________ Account: 135-47025-000-000 Penalties Totals: (8,603.88) (15,670.18) ** (50,500.00) Budgeted (34,829.82) Remaining 31 % Used Account: 135-47030-000-000 Service Charges 77 11/09/2011 UB 11/09/2011 ADJUSTMENTS UB 20111109-20111109 User: (1,728.00) (1,075.00) (2,803.00) UB 117 11/22/2011 UB 11/22/11 ADJUSTMENTS3 UB 20111122-20111122 User: (25.00) (2,828.00) UB 119 11/23/2011 UB 11/23/11 ADJUSTMENTS UB 20111123-20111123 User: (100.00) (2,928.00) UB 122 11/23/2011 UB 11/23/11 ADJUSTMENTS UB 20111123-20111123 User: (25.00) (2,953.00) UB 125 11/30/2011 UB 11/30/11 CHARGES UB 20111130-20111130 User: (3.00) (2,956.00) UB 126 11/30/2011 UB 11/30/11 CREDIT ADJUSTMENTS UB 20111130-20111130 User: 15.62 (2,940.38) UB _______________ Account: 135-47030-000-000 Service Charges Totals: (1,212.38) (2,940.38) ** (17,500.00) Budgeted (14,559.62) Remaining 17 % Used Account: 135-47035-000-000 Plumbing Inspections 924831 11/04/2011 Permits 11/4/11 Permits 11/4/11 (100.00) (100.00) GL 924835 11/10/2011 Permits 11/10/11 Permits 11/10/11 (50.00) (150.00) GL _______________ Account: 135-47035-000-000 Plumbing Inspections Totals: (150.00) (150.00) ** (1,200.00) Budgeted (1,050.00) Remaining 13 % Used TCMUD No. 1 Page 64 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 18 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: Revenues Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 135-47045-000-000 Sewer Inspections 924831 11/04/2011 Permits 11/4/11 Permits 11/4/11 (300.00) (300.00) GL 924835 11/10/2011 Permits 11/10/11 Permits 11/10/11 (150.00) (450.00) GL _______________ Account: 135-47045-000-000 Sewer Inspections Totals: (450.00) (450.00) ** (4,500.00) Budgeted (4,050.00) Remaining 10 % Used Account: 135-47070-000-000 TCCC Effluent Charges 925162 11/30/2011 TCCC Oct Effluent TCCC Oct Effluent (8,212.62) (8,212.62) GL _______________ Account: 135-47070-000-000 TCCC Effluent Charges Totals: (8,212.62) (8,212.62) ** (57,500.00) Budgeted (49,287.38) Remaining 14 % Used Account: 135-47270-000-000 Fire Line .00 .00 _______________ Account: 135-47270-000-000 Fire Line Totals: .00 .00 ** (5,000.00) Budgeted (5,000.00) Remaining 0 % Used Account: 135-47400-000-000 Water-Out of Dist/Port Meters 125 11/30/2011 UB 11/30/11 CHARGES UB 20111130-20111130 User: (8,381.34) (6,533.16) (14,914.50) UB 126 11/30/2011 UB 11/30/11 CREDIT ADJUSTMENTS UB 20111130-20111130 User: 6.43 (14,908.07) UB _______________ Account: 135-47400-000-000 Water-Out of Dist/Port Meters Totals: (6,526.73) (14,908.07) ** (41,595.00) Budgeted (26,686.93) Remaining 36 % Used Account: 135-47405-000-000 Out of District Sewer 125 11/30/2011 UB 11/30/11 CHARGES UB 20111130-20111130 User: (960.31) (781.43) (1,741.74) UB _______________ Account: 135-47405-000-000 Out of District Sewer Totals: (781.43) (1,741.74) ** (11,807.00) Budgeted (10,065.26) Remaining 15 % Used Account: 135-47410-000-000 Out of Dist/Portable Penalties 107 11/22/2011 UB 11/22/11 CHARGES-PENALTIES UB 20111122-20111122 User: (4.68) (4.68) UB _______________ Account: 135-47410-000-000 Out of Dist/Portable Penalties Totals: (4.68) (4.68) ** (300.00) Budgeted (295.32) Remaining 2 % Used TCMUD No. 1 Page 65 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 19 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: Revenues Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 135-47600-000-000 PID #1 Water 125 11/30/2011 UB 11/30/11 CHARGES UB 20111130-20111130 User: (43,404.77) (32,670.71) (76,075.48) UB 126 11/30/2011 UB 11/30/11 CREDIT ADJUSTMENTS UB 20111130-20111130 User: (424.11) (76,499.59) UB _______________ Account: 135-47600-000-000 PID #1 Water Totals: (33,094.82) (76,499.59) ** (425,000.00) Budgeted (348,500.41) Remaining 18 % Used Account: 135-47605-000-000 PID #1 Sewer 125 11/30/2011 UB 11/30/11 CHARGES UB 20111130-20111130 User: (20,395.84) (17,592.14) (37,987.98) UB 126 11/30/2011 UB 11/30/11 CREDIT ADJUSTMENTS UB 20111130-20111130 User: 344.10 (37,643.88) UB _______________ Account: 135-47605-000-000 PID #1 Sewer Totals: (17,248.04) (37,643.88) ** (185,000.00) Budgeted (147,356.12) Remaining 20 % Used Account: 135-48005-000-000 Utility Fees 924715 11/03/2011 Permits 11/3/11 Permits 11/3/11 (37,580.00) (2,300.00) (39,880.00) GL 924831 11/04/2011 Permits 11/4/11 Permits 11/4/11 (2,300.00) (42,180.00) GL 924833 11/07/2011 Permits 11/7/11 Permits 11/7/11 (2,300.00) (44,480.00) GL 924835 11/10/2011 Permits 11/10/11 Permits 11/10/11 (4,600.00) (49,080.00) GL 924837 11/11/2011 Permits 11/11/11 Permits 11/11/11 (2,300.00) (51,380.00) GL 924839 11/15/2011 Permits 11/15/11 Permits 11/15/11 (13,800.00) (65,180.00) GL 924841 11/16/2011 Permits 11/16/11 Permits 11/16/11 (4,600.00) (69,780.00) GL 924843 11/18/2011 Permits 11/18/11 Permits 11/18/11 (2,300.00) (72,080.00) GL 924845 11/21/2011 Permits 11/21/11 Permits 11/21/11 (6,900.00) (78,980.00) GL _______________ Account: 135-48005-000-000 Utility Fees Totals: (41,400.00) (78,980.00) ** (338,880.00) Budgeted (259,900.00) Remaining 23 % Used Account: 135-49010-000-000 Interest Income 175 11/30/2011 NOV BANK INTEREST (334.88) (143.20) (478.08) GL 175 11/30/2011 NOV BANK INTEREST (250.90) (728.98) GL _______________ Account: 135-49010-000-000 Interest Income Totals: (394.10) (728.98) ** (4,500.00) Budgeted (3,771.02) Remaining 16 % Used Account: 135-49016-000-000 Cell Tower Revenue 925152 11/11/2011 AT&T Cell Tower Rev/Nov AT&T Cell Tower Rev/Nov (847.00) (847.00) (1,694.00) GL _______________ Account: 135-49016-000-000 Cell Tower Revenue Totals: (847.00) (1,694.00) ** .00 Budgeted 1,694.00 Remaining 0 % Used TCMUD No. 1 Page 66 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 20 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: Revenues Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 135-49018-000-000 Building Rent Income 925150 11/11/2011 Town Nov Maint Barn Rent Town Nov Maint Barn Rent (583.33) (583.33) (1,166.66) GL _______________ Account: 135-49018-000-000 Building Rent Income Totals: (583.33) (1,166.66) ** (7,000.00) Budgeted (5,833.34) Remaining 17 % Used Account: 135-49030-000-000 Vending Revenue .00 .00 _______________ Account: 135-49030-000-000 Vending Revenue Totals: .00 .00 ** (600.00) Budgeted (600.00) Remaining 0 % Used Account: 135-49035-000-000 Prior Year Reserves .00 .00 _______________ Account: 135-49035-000-000 Prior Year Reserves Totals: .00 .00 ** (241,981.00) Budgeted (241,981.00) Remaining 0 % Used Account: 135-49036-000-000 GASB Reserves .00 .00 _______________ Account: 135-49036-000-000 GASB Reserves Totals: .00 .00 ** (26,911.00) Budgeted (26,911.00) Remaining 0 % Used Account: 135-49075-000-000 Oversize Meter Reimbursement 924715 11/03/2011 Permits 11/3/11 Permits 11/3/11 (5,548.00) (292.00) (5,840.00) GL 924831 11/04/2011 Permits 11/4/11 Permits 11/4/11 (876.00) (6,716.00) GL 924833 11/07/2011 Permits 11/7/11 Permits 11/7/11 (292.00) (7,008.00) GL 924835 11/10/2011 Permits 11/10/11 Permits 11/10/11 (876.00) (7,884.00) GL 924837 11/11/2011 Permits 11/11/11 Permits 11/11/11 (292.00) (8,176.00) GL 924839 11/15/2011 Permits 11/15/11 Permits 11/15/11 (1,752.00) (9,928.00) GL 924841 11/16/2011 Permits 11/16/11 Permits 11/16/11 (584.00) (10,512.00) GL 924843 11/18/2011 Permits 11/18/11 Permits 11/18/11 (292.00) (10,804.00) GL 924845 11/21/2011 Permits 11/21/11 Permits 11/21/11 (876.00) (11,680.00) GL 924847 11/28/2011 Permits 11/28/11 Permits 11/28/11 (292.00) (11,972.00) GL _______________ Account: 135-49075-000-000 Oversize Meter Reimbursement Totals: (6,424.00) (11,972.00) ** (64,000.00) Budgeted (52,028.00) Remaining 19 % Used TCMUD No. 1 Page 67 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 21 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: Revenues Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 135-49900-000-000 Miscellaneous Income 925156 11/16/2011 Open Records/Moore Open Records/Moore (17.00) (58.40) (75.40) GL 116 11/17/2011 UB 11/17/11 ADJUSTMENTS UB 20111117-20111117 User: (150.00) (225.40) UB 925158 11/29/2011 Open Rocords/Moore Open Rocords/Moore (1.00) (226.40) GL 126 11/30/2011 UB 11/30/11 CREDIT ADJUSTMENTS UB 20111130-20111130 User: 62.68 (163.72) UB 925166 11/30/2011 Tarrant County Elections/Refun Tarrant County Elections/Refun (169.77) (333.49) GL _______________ Account: 135-49900-000-000 Miscellaneous Income Totals: (316.49) (333.49) ** (10,000.00) Budgeted (9,666.51) Remaining 3 % Used Account: 135-49905-000-000 Gas Well Revenue 925164 11/30/2011 Encana-Gas well revenue Encana-Gas well revenue (48.62) (48.62) GL _______________ Account: 135-49905-000-000 Gas Well Revenue Totals: (48.62) (48.62) ** (800.00) Budgeted (751.38) Remaining 6 % Used Department Totals: ------------------------------------------------------------------------------------------------ (939,646.00) ** (6,094,978.00) Budgeted (5,155,332.00) Remaining 15 % Used TCMUD No. 1 Page 68 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 22 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 10 Water Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 135-50005-010-000 Salaries & Wages 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 12,581.46 6,290.73 18,872.19 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 6,290.73 25,162.92 PR _______________ Account: 135-50005-010-000 Salaries & Wages Totals: 12,581.46 25,162.92 ** 199,759.00 Budgeted 174,596.08 Remaining 13 % Used Account: 135-50010-010-000 Overtime 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 1,184.97 463.00 1,647.97 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 327.25 1,975.22 PR _______________ Account: 135-50010-010-000 Overtime Totals: 790.25 1,975.22 ** 13,250.00 Budgeted 11,274.78 Remaining 15 % Used Account: 135-50016-010-000 Longevity 924705 11/23/2011 Longevity 11/23/11 Longevity 11/23/11 2,620.00 2,620.00 PR _______________ Account: 135-50016-010-000 Longevity Totals: 2,620.00 2,620.00 ** 2,620.00 Budgeted .00 Remaining 100 % Used Account: 135-50017-010-000 Certification 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 150.00 150.00 300.00 PR _______________ Account: 135-50017-010-000 Certification Totals: 150.00 300.00 ** 1,800.00 Budgeted 1,500.00 Remaining 17 % Used Account: 135-50020-010-000 Retirement 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 1,970.57 956.34 2,926.91 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 958.35 3,885.26 PR 924705 11/23/2011 Longevity 11/23/11 Longevity 11/23/11 370.98 4,256.24 PR _______________ Account: 135-50020-010-000 Retirement Totals: 2,285.67 4,256.24 ** 25,508.00 Budgeted 21,251.76 Remaining 17 % Used Account: 135-50026-010-000 Medical Insurance 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 1,883.94 941.97 2,825.91 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 941.97 3,767.88 PR TCMUD No. 1 Page 69 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 23 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 10 Water Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) _______________ Account: 135-50026-010-000 Medical Insurance Totals: 1,883.94 3,767.88 ** 22,607.00 Budgeted 18,839.12 Remaining 17 % Used Account: 135-50027-010-000 Dental Insurance 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 134.28 67.14 201.42 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 67.14 268.56 PR _______________ Account: 135-50027-010-000 Dental Insurance Totals: 134.28 268.56 ** 2,169.00 Budgeted 1,900.44 Remaining 12 % Used Account: 135-50028-010-000 Vision Insurance 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 31.76 15.88 47.64 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 15.88 63.52 PR _______________ Account: 135-50028-010-000 Vision Insurance Totals: 31.76 63.52 ** 576.00 Budgeted 512.48 Remaining 11 % Used Account: 135-50029-010-000 Life Insurance & Other .00 .00 _______________ Account: 135-50029-010-000 Life Insurance & Other Totals: .00 .00 ** 1,161.00 Budgeted 1,161.00 Remaining 0 % Used Account: 135-50030-010-000 Social Security Taxes 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 809.57 392.11 1,201.68 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 393.00 1,594.68 PR 924705 11/23/2011 Longevity 11/23/11 Longevity 11/23/11 162.44 1,757.12 PR _______________ Account: 135-50030-010-000 Social Security Taxes Totals: 947.55 1,757.12 ** 13,481.00 Budgeted 11,723.88 Remaining 13 % Used Account: 135-50035-010-000 Medicare Taxes 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 189.34 91.70 281.04 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 91.91 372.95 PR 924705 11/23/2011 Longevity 11/23/11 Longevity 11/23/11 38.00 410.95 PR _______________ Account: 135-50035-010-000 Medicare Taxes Totals: 221.61 410.95 ** 3,153.00 Budgeted 2,742.05 Remaining 13 % Used TCMUD No. 1 Page 70 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 24 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 10 Water Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 135-50040-010-000 Unemployment Taxes .00 .00 _______________ Account: 135-50040-010-000 Unemployment Taxes Totals: .00 .00 ** 945.00 Budgeted 945.00 Remaining 0 % Used Account: 135-50045-010-000 Workman's Compensation 5,581.00 .00 5,581.00 _______________ Account: 135-50045-010-000 Workman's Compensation Totals: .00 5,581.00 ** 5,581.00 Budgeted .00 Remaining 100 % Used Account: 135-50060-010-000 Pre-emp Physicals/Testing .00 .00 _______________ Account: 135-50060-010-000 Pre-emp Physicals/Testing Totals: .00 .00 ** 200.00 Budgeted 200.00 Remaining 0 % Used Account: 135-50070-010-000 Employee Relations 188 11/30/2011 November A/P NOVEMBER PCARDS 27.59 27.59 JPMORGAN CHASE BANK NA 31080 AP _______________ Account: 135-50070-010-000 Employee Relations Totals: 27.59 27.59 ** 350.00 Budgeted 322.41 Remaining 8 % Used Account: 135-55005-010-000 Engineering .00 .00 _______________ Account: 135-55005-010-000 Engineering Totals: .00 .00 ** 1,500.00 Budgeted 1,500.00 Remaining 0 % Used Account: 135-55070-010-000 Independent Labor .00 .00 _______________ Account: 135-55070-010-000 Independent Labor Totals: .00 .00 ** 500.00 Budgeted 500.00 Remaining 0 % Used Account: 135-55080-010-000 Maintenance & Repairs TCMUD No. 1 Page 71 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 25 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 10 Water Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) 924384 11/03/2011 Accounts Payable Spec color std kit, monochlor 550.00 155.95 705.95 Hach Company, Inc AP 188 11/30/2011 November A/P NOVEMBER PCARDS 35.49 741.44 JPMORGAN CHASE BANK NA 31080 AP 188 11/30/2011 November A/P NOVEMBER PCARDS 7.16 748.60 JPMORGAN CHASE BANK NA 31080 AP 188 11/30/2011 November A/P NOVEMBER PCARDS 164.50 913.10 JPMORGAN CHASE BANK NA 31080 AP _______________ Account: 135-55080-010-000 Maintenance & Repairs Totals: 363.10 913.10 ** 29,500.00 Budgeted 28,586.90 Remaining 3 % Used Account: 135-55090-010-000 Vehicle Maintenance 924655 11/22/2011 Accounts Payable Water pump, Belt, A/C Heater C 112.89 994.98 1,107.87 Watsons Automotive AP 188 11/30/2011 November A/P NOVEMBER PCARDS 653.32 1,761.19 JPMORGAN CHASE BANK NA 31080 AP 188 11/30/2011 November A/P NOVEMBER PCARDS 36.18 1,797.37 JPMORGAN CHASE BANK NA 31080 AP _______________ Account: 135-55090-010-000 Vehicle Maintenance Totals: 1,684.48 1,797.37 ** 3,380.00 Budgeted 1,582.63 Remaining 53 % Used Account: 135-55100-010-000 Building Maint & Supplies 365.50 .00 365.50 _______________ Account: 135-55100-010-000 Building Maint & Supplies Totals: .00 365.50 ** 750.00 Budgeted 384.50 Remaining 49 % Used Account: 135-55105-010-000 Maintenance-Backhoe/SkidLoader .00 .00 _______________ Account: 135-55105-010-000 Maintenance-Backhoe/SkidLoader Totals: .00 .00 ** 2,900.00 Budgeted 2,900.00 Remaining 0 % Used Account: 135-55135-010-000 Lab Analysis 188 11/30/2011 November A/P Lab analysis 180.00 180.00 360.00 TARRANT CTY PUBLIC HEALTH LAB 31086 AP _______________ Account: 135-55135-010-000 Lab Analysis Totals: 180.00 360.00 ** 4,500.00 Budgeted 4,140.00 Remaining 8 % Used Account: 135-60010-010-000 Communications/Pagers/Mobiles 924388 11/01/2011 Accounts Payable Cell phones 156.89 156.89 Verizon Wireless AP 188 11/30/2011 November A/P November cell phones 161.87 318.76 WEST PUBLISHING CORPORATION 31094 AP TCMUD No. 1 Page 72 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 26 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 10 Water Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) _______________ Account: 135-60010-010-000 Communications/Pagers/Mobiles Totals: 318.76 318.76 ** 1,599.00 Budgeted 1,280.24 Remaining 20 % Used Account: 135-60020-010-000 Electricity 924382 11/01/2011 Accounts Payable Electricity 8,342.00 27.71 8,369.71 Tri County Electric AP 924410 11/11/2011 Accounts Payable Electricity 577.96 8,947.67 Hudson Energy AP 924987 11/11/2011 Accounts Payable Electricity 10/13-11/11 10,448.13 19,395.80 Hudson Energy AP _______________ Account: 135-60020-010-000 Electricity Totals: 11,053.80 19,395.80 ** 162,000.00 Budgeted 142,604.20 Remaining 12 % Used Account: 135-60035-010-000 Postage 188 11/30/2011 November A/P NOVEMBER PCARDS 6.51 6.51 JPMORGAN CHASE BANK NA 31080 AP _______________ Account: 135-60035-010-000 Postage Totals: 6.51 6.51 ** 500.00 Budgeted 493.49 Remaining 1 % Used Account: 135-60050-010-000 Bad Debt Expense .00 .00 _______________ Account: 135-60050-010-000 Bad Debt Expense Totals: .00 .00 ** 4,200.00 Budgeted 4,200.00 Remaining 0 % Used Account: 135-60066-010-000 Publications/Books/Subscripts .00 .00 _______________ Account: 135-60066-010-000 Publications/Books/Subscripts Totals: .00 .00 ** 50.00 Budgeted 50.00 Remaining 0 % Used Account: 135-60070-010-000 Dues & Memberships .00 .00 _______________ Account: 135-60070-010-000 Dues & Memberships Totals: .00 .00 ** 150.00 Budgeted 150.00 Remaining 0 % Used Account: 135-60080-010-000 Schools & Training TCMUD No. 1 Page 73 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 27 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 10 Water Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) 188 11/30/2011 November A/P NOVEMBER PCARDS 280.00 111.00 391.00 JPMORGAN CHASE BANK NA 31080 AP _______________ Account: 135-60080-010-000 Schools & Training Totals: 111.00 391.00 ** 2,800.00 Budgeted 2,409.00 Remaining 14 % Used Account: 135-60090-010-000 Safety Program .00 .00 _______________ Account: 135-60090-010-000 Safety Program Totals: .00 .00 ** 500.00 Budgeted 500.00 Remaining 0 % Used Account: 135-60100-010-000 Travel & per diem 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 78.82 51.62 130.44 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 24.43 154.87 PR _______________ Account: 135-60100-010-000 Travel & per diem Totals: 76.05 154.87 ** 3,200.00 Budgeted 3,045.13 Remaining 5 % Used Account: 135-60105-010-000 Rent/Lease Equipment .00 .00 _______________ Account: 135-60105-010-000 Rent/Lease Equipment Totals: .00 .00 ** 500.00 Budgeted 500.00 Remaining 0 % Used Account: 135-60135-010-000 Annual Permit Fee 924641 11/30/2011 Accounts Payable Water permit fee 7,965.75 7,965.75 Texas Commission Environmental AP _______________ Account: 135-60135-010-000 Annual Permit Fee Totals: 7,965.75 7,965.75 ** 6,600.00 Budgeted (1,365.75) Remaining 121 % Used Account: 135-60150-010-000 Bulk Water 188 11/30/2011 November A/P October bulk water 155,009.23 155,009.23 CITY OF FORT WORTH 31076 AP _______________ Account: 135-60150-010-000 Bulk Water Totals: 155,009.23 155,009.23 ** 1,720,000.00 Budgeted 1,564,990.77 Remaining 9 % Used Account: 135-60245-010-000 Miscellaneous Expenses TCMUD No. 1 Page 74 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 28 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 10 Water Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) .00 .00 _______________ Account: 135-60245-010-000 Miscellaneous Expenses Totals: .00 .00 ** 1,000.00 Budgeted 1,000.00 Remaining 0 % Used Account: 135-60280-010-000 Property Maintenance .00 .00 _______________ Account: 135-60280-010-000 Property Maintenance Totals: .00 .00 ** 4,200.00 Budgeted 4,200.00 Remaining 0 % Used Account: 135-60285-010-000 Lawn Equipment & Maintenance .00 .00 _______________ Account: 135-60285-010-000 Lawn Equipment & Maintenance Totals: .00 .00 ** 2,000.00 Budgeted 2,000.00 Remaining 0 % Used Account: 135-60360-010-000 Furniture/Equipment < $5000 .00 .00 _______________ Account: 135-60360-010-000 Furniture/Equipment < $5000 Totals: .00 .00 ** 1,500.00 Budgeted 1,500.00 Remaining 0 % Used Account: 135-65005-010-000 Fuel & Lube 188 11/30/2011 November A/P NOVEMBER PCARDS 67.40 67.40 JPMORGAN CHASE BANK NA 31080 AP 191 11/30/2011 November Gas Log 1,277.97 1,345.37 GL _______________ Account: 135-65005-010-000 Fuel & Lube Totals: 1,345.37 1,345.37 ** 15,216.00 Budgeted 13,870.63 Remaining 9 % Used Account: 135-65010-010-000 Uniforms 188 11/30/2011 November A/P NOVEMBER PCARDS 638.21 114.97 753.18 JPMORGAN CHASE BANK NA 31080 AP _______________ Account: 135-65010-010-000 Uniforms Totals: 114.97 753.18 ** 3,690.00 Budgeted 2,936.82 Remaining 20 % Used Account: 135-65030-010-000 Chemicals TCMUD No. 1 Page 75 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 29 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 10 Water Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) .00 .00 _______________ Account: 135-65030-010-000 Chemicals Totals: .00 .00 ** 6,200.00 Budgeted 6,200.00 Remaining 0 % Used Account: 135-65035-010-000 Small Tools .00 .00 _______________ Account: 135-65035-010-000 Small Tools Totals: .00 .00 ** 2,500.00 Budgeted 2,500.00 Remaining 0 % Used Account: 135-65040-010-000 Safety Equipment .00 .00 _______________ Account: 135-65040-010-000 Safety Equipment Totals: .00 .00 ** 2,500.00 Budgeted 2,500.00 Remaining 0 % Used Account: 135-65050-010-000 Meter Expense 924370 11/11/2011 Accounts Payable 5/8 " meters and 1" meters 4,407.00 47,512.50 51,919.50 Atlas Utility Supply Co., Inc AP 924989 11/28/2011 Accounts Payable Meter Expense 3,816.50 55,736.00 Atlas Utility Supply Co., Inc AP _______________ Account: 135-65050-010-000 Meter Expense Totals: 51,329.00 55,736.00 ** 85,000.00 Budgeted 29,264.00 Remaining 66 % Used Account: 135-65055-010-000 Hardware .00 .00 _______________ Account: 135-65055-010-000 Hardware Totals: .00 .00 ** 1,000.00 Budgeted 1,000.00 Remaining 0 % Used Account: 135-65095-010-000 Maintenance Supplies 924366 11/11/2011 Accounts Payable Hip boots, couplings 498.67 659.69 1,158.36 Atlas Utility Supply Co., Inc AP 924368 11/11/2011 Accounts Payable meter boxes 2,933.40 4,091.76 Atlas Utility Supply Co., Inc AP 924370 11/11/2011 Accounts Payable Angle Stops 585.52 4,677.28 Atlas Utility Supply Co., Inc AP 924372 11/11/2011 Accounts Payable Angle Stops 585.52 5,262.80 Atlas Utility Supply Co., Inc AP 188 11/30/2011 November A/P NOVEMBER PCARDS 42.96 5,305.76 JPMORGAN CHASE BANK NA 31080 AP 188 11/30/2011 November A/P NOVEMBER PCARDS 15.12 5,320.88 JPMORGAN CHASE BANK NA 31080 AP TCMUD No. 1 Page 76 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 30 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 10 Water Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) _______________ Account: 135-65095-010-000 Maintenance Supplies Totals: 4,822.21 5,320.88 ** 32,000.00 Budgeted 26,679.12 Remaining 17 % Used Account: 135-65100-010-000 Copies .00 .00 _______________ Account: 135-65100-010-000 Copies Totals: .00 .00 ** 50.00 Budgeted 50.00 Remaining 0 % Used Account: 135-65105-010-000 Printing 58.50 .00 58.50 _______________ Account: 135-65105-010-000 Printing Totals: .00 58.50 ** 150.00 Budgeted 91.50 Remaining 39 % Used Account: 135-69005-010-000 Capital Expenses 924657 11/03/2011 Accounts Payable Ground Storage expansion appli 597.19 62,700.00 63,297.19 Phoenix Fabricators & Erectors AP 924370 11/11/2011 Accounts Payable 5/8 " meters and 1" meters 89,700.00 152,997.19 Atlas Utility Supply Co., Inc AP 186 11/22/2011 App 1 & 2 Retainage/Phoenix 15,122.50 168,119.69 GL 188 11/30/2011 November A/P Ground Storage expansion App 2 224,627.50 392,747.19 PHOENIX FABRICATORS & ERECTORS 31084 AP _______________ Account: 135-69005-010-000 Capital Expenses Totals: 392,150.00 392,747.19 ** 888,432.00 Budgeted 495,684.81 Remaining 44 % Used Account: 135-69035-010-000 Vehicles .00 .00 _______________ Account: 135-69035-010-000 Vehicles Totals: .00 .00 ** 27,000.00 Budgeted 27,000.00 Remaining 0 % Used Account: 135-69195-010-000 Gasb34/Reserve for Replacement .00 .00 _______________ Account: 135-69195-010-000 Gasb34/Reserve for Replacement Totals: .00 .00 ** 30,000.00 Budgeted 30,000.00 Remaining 0 % Used Account: 135-69280-010-000 Capital Repairs TCMUD No. 1 Page 77 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 31 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 10 Water Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) .00 .00 _______________ Account: 135-69280-010-000 Capital Repairs Totals: .00 .00 ** 24,000.00 Budgeted 24,000.00 Remaining 0 % Used Account: 135-69281-010-000 Capital Repair-Ground Storage 924386 11/01/2011 Accounts Payable Ground storage annual maint 69,788.02 69,788.02 Utility Service Co, Inc AP _______________ Account: 135-69281-010-000 Capital Repair-Ground Storage Totals: 69,788.02 69,788.02 ** 124,771.00 Budgeted 54,982.98 Remaining 56 % Used Account: 135-69295-010-000 Unexpected Maintenance .00 .00 _______________ Account: 135-69295-010-000 Unexpected Maintenance Totals: .00 .00 ** 250.00 Budgeted 250.00 Remaining 0 % Used Account: 135-69305-010-000 Capital Leases .00 .00 _______________ Account: 135-69305-010-000 Capital Leases Totals: .00 .00 ** 11,490.00 Budgeted 11,490.00 Remaining 0 % Used Department 10 Totals: ------------------------------------------------------------------------------------------------ 758,618.03 ** 3,501,238.00 Budgeted 2,742,619.97 Remaining 22 % Used TCMUD No. 1 Page 78 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 32 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 20 Wastewater Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 135-50005-020-000 Salaries & Wages 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 30,713.97 4,738.51 35,452.48 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 4,738.51 40,190.99 PR _______________ Account: 135-50005-020-000 Salaries & Wages Totals: 9,477.02 40,190.99 ** 182,147.00 Budgeted 141,956.01 Remaining 22 % Used Account: 135-50010-020-000 Overtime 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 716.26 797.46 1,513.72 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 843.78 2,357.50 PR _______________ Account: 135-50010-020-000 Overtime Totals: 1,641.24 2,357.50 ** 10,166.00 Budgeted 7,808.50 Remaining 23 % Used Account: 135-50016-020-000 Longevity 924705 11/23/2011 Longevity 11/23/11 Longevity 11/23/11 1,387.50 2,587.50 3,975.00 PR _______________ Account: 135-50016-020-000 Longevity Totals: 2,587.50 3,975.00 ** 3,976.00 Budgeted 1.00 Remaining 100 % Used Account: 135-50017-020-000 Certification 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 200.00 125.00 325.00 PR _______________ Account: 135-50017-020-000 Certification Totals: 125.00 325.00 ** 2,400.00 Budgeted 2,075.00 Remaining 14 % Used Account: 135-50020-020-000 Retirement 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 4,675.31 783.89 5,459.20 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 808.15 6,267.35 PR 924705 11/23/2011 Longevity 11/23/11 Longevity 11/23/11 366.39 6,633.74 PR _______________ Account: 135-50020-020-000 Retirement Totals: 1,958.43 6,633.74 ** 27,816.00 Budgeted 21,182.26 Remaining 24 % Used Account: 135-50026-020-000 Medical Insurance 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 2,486.94 867.34 3,354.28 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 867.34 4,221.62 PR TCMUD No. 1 Page 79 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 33 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 20 Wastewater Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) _______________ Account: 135-50026-020-000 Medical Insurance Totals: 1,734.68 4,221.62 ** 30,805.00 Budgeted 26,583.38 Remaining 14 % Used Account: 135-50027-020-000 Dental Insurance 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 185.96 68.47 254.43 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 68.47 322.90 PR _______________ Account: 135-50027-020-000 Dental Insurance Totals: 136.94 322.90 ** 1,981.00 Budgeted 1,658.10 Remaining 16 % Used Account: 135-50028-020-000 Vision Insurance 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 45.92 17.22 63.14 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 17.22 80.36 PR _______________ Account: 135-50028-020-000 Vision Insurance Totals: 34.44 80.36 ** 552.00 Budgeted 471.64 Remaining 15 % Used Account: 135-50029-020-000 Life Insurance & Other .00 .00 _______________ Account: 135-50029-020-000 Life Insurance & Other Totals: .00 .00 ** 884.00 Budgeted 884.00 Remaining 0 % Used Account: 135-50030-020-000 Social Security Taxes 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 1,909.78 298.29 2,208.07 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 307.35 2,515.42 PR 924705 11/23/2011 Longevity 11/23/11 Longevity 11/23/11 160.43 2,675.85 PR _______________ Account: 135-50030-020-000 Social Security Taxes Totals: 766.07 2,675.85 ** 8,597.00 Budgeted 5,921.15 Remaining 31 % Used Account: 135-50035-020-000 Medicare Taxes 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 446.64 69.74 516.38 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 71.88 588.26 PR 924705 11/23/2011 Longevity 11/23/11 Longevity 11/23/11 37.52 625.78 PR _______________ Account: 135-50035-020-000 Medicare Taxes Totals: 179.14 625.78 ** 2,011.00 Budgeted 1,385.22 Remaining 31 % Used TCMUD No. 1 Page 80 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 34 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 20 Wastewater Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 135-50040-020-000 Unemployment Taxes .00 .00 _______________ Account: 135-50040-020-000 Unemployment Taxes Totals: .00 .00 ** 567.00 Budgeted 567.00 Remaining 0 % Used Account: 135-50045-020-000 Workman's Compensation 2,685.00 .00 2,685.00 _______________ Account: 135-50045-020-000 Workman's Compensation Totals: .00 2,685.00 ** 2,685.00 Budgeted .00 Remaining 100 % Used Account: 135-50060-020-000 Pre-emp Physicals/Testing 188 11/30/2011 November A/P Pre-employment physicals/Peral 30.45 30.45 FIRST CHECK APPLICANT SCREENIN 31079 AP _______________ Account: 135-50060-020-000 Pre-emp Physicals/Testing Totals: 30.45 30.45 ** .00 Budgeted (30.45) Remaining 0 % Used Account: 135-50070-020-000 Employee Relations .00 .00 _______________ Account: 135-50070-020-000 Employee Relations Totals: .00 .00 ** 350.00 Budgeted 350.00 Remaining 0 % Used Account: 135-55070-020-000 Independent Labor .00 .00 _______________ Account: 135-55070-020-000 Independent Labor Totals: .00 .00 ** 750.00 Budgeted 750.00 Remaining 0 % Used Account: 135-55080-020-000 Maintenance & Repairs 924619 11/08/2011 Accounts Payable Termination Box assembly 3,120.94 264.00 3,384.94 Hach Company, Inc AP 188 11/30/2011 November A/P NOVEMBER PCARDS 165.00 3,549.94 JPMORGAN CHASE BANK NA 31080 AP 188 11/30/2011 November A/P NOVEMBER PCARDS 165.00 3,714.94 JPMORGAN CHASE BANK NA 31080 AP 188 11/30/2011 November A/P NOVEMBER PCARDS 143.76 3,858.70 JPMORGAN CHASE BANK NA 31080 AP _______________ Account: 135-55080-020-000 Maintenance & Repairs Totals: 737.76 3,858.70 ** 17,750.00 Budgeted 13,891.30 Remaining 22 % Used TCMUD No. 1 Page 81 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 35 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 20 Wastewater Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 135-55090-020-000 Vehicle Maintenance .00 .00 _______________ Account: 135-55090-020-000 Vehicle Maintenance Totals: .00 .00 ** 4,998.00 Budgeted 4,998.00 Remaining 0 % Used Account: 135-55100-020-000 Building Maint & Supplies .00 .00 _______________ Account: 135-55100-020-000 Building Maint & Supplies Totals: .00 .00 ** 1,400.00 Budgeted 1,400.00 Remaining 0 % Used Account: 135-55105-020-000 Maintenance-Backhoe/SkidLoader .00 .00 _______________ Account: 135-55105-020-000 Maintenance-Backhoe/SkidLoader Totals: .00 .00 ** 2,950.00 Budgeted 2,950.00 Remaining 0 % Used Account: 135-55125-020-000 Dumpster Services 924404 11/05/2011 Accounts Payable Dumpster service 1,612.50 1,075.00 2,687.50 L.H. Chaney Materials, Inc AP 924983 11/12/2011 Accounts Payable Sludge Haul off 2,150.00 4,837.50 L.H. Chaney Materials, Inc AP _______________ Account: 135-55125-020-000 Dumpster Services Totals: 3,225.00 4,837.50 ** 35,000.00 Budgeted 30,162.50 Remaining 14 % Used Account: 135-55135-020-000 Lab Analysis 923924 11/02/2011 Accounts Payable Wet chem analysis 1,074.57 1,168.75 2,243.32 Talem, Inc. AP _______________ Account: 135-55135-020-000 Lab Analysis Totals: 1,168.75 2,243.32 ** 22,760.00 Budgeted 20,516.68 Remaining 10 % Used Account: 135-60005-020-000 Telephone 6.20 .00 6.20 _______________ Account: 135-60005-020-000 Telephone Totals: .00 6.20 ** .00 Budgeted (6.20) Remaining 0 % Used Account: 135-60010-020-000 Communications/Pagers/Mobiles TCMUD No. 1 Page 82 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 36 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 20 Wastewater Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) 924388 11/01/2011 Accounts Payable Cell phones 232.96 232.96 Verizon Wireless AP 188 11/30/2011 November A/P November cell phones 142.40 375.36 WEST PUBLISHING CORPORATION 31094 AP _______________ Account: 135-60010-020-000 Communications/Pagers/Mobiles Totals: 375.36 375.36 ** 3,000.00 Budgeted 2,624.64 Remaining 13 % Used Account: 135-60020-020-000 Electricity 924621 11/18/2011 Accounts Payable Electricity 10/13-11/11 7,574.14 15,733.60 23,307.74 Hudson Energy AP _______________ Account: 135-60020-020-000 Electricity Totals: 15,733.60 23,307.74 ** 205,000.00 Budgeted 181,692.26 Remaining 11 % Used Account: 135-60025-020-000 Water 188 11/30/2011 November A/P November water 97.60 160.31 257.91 TROPHY CLUB MUD (WATER BILLS) 31091 AP _______________ Account: 135-60025-020-000 Water Totals: 160.31 257.91 ** 1,900.00 Budgeted 1,642.09 Remaining 14 % Used Account: 135-60035-020-000 Postage .00 .00 _______________ Account: 135-60035-020-000 Postage Totals: .00 .00 ** 120.00 Budgeted 120.00 Remaining 0 % Used Account: 135-60066-020-000 Publications/Books/Subscripts 438.17 .00 438.17 _______________ Account: 135-60066-020-000 Publications/Books/Subscripts Totals: .00 438.17 ** 500.00 Budgeted 61.83 Remaining 88 % Used Account: 135-60080-020-000 Schools & Training .00 .00 _______________ Account: 135-60080-020-000 Schools & Training Totals: .00 .00 ** 1,320.00 Budgeted 1,320.00 Remaining 0 % Used Account: 135-60090-020-000 Safety Program TCMUD No. 1 Page 83 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 37 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 20 Wastewater Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) .00 .00 _______________ Account: 135-60090-020-000 Safety Program Totals: .00 .00 ** 200.00 Budgeted 200.00 Remaining 0 % Used Account: 135-60100-020-000 Travel & per diem 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 116.55 139.86 256.41 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 93.24 349.65 PR _______________ Account: 135-60100-020-000 Travel & per diem Totals: 233.10 349.65 ** 1,750.00 Budgeted 1,400.35 Remaining 20 % Used Account: 135-60105-020-000 Rent/Lease Equipment 188 11/30/2011 November A/P Trash pump rental 901.30 901.30 UNITED RENTALS NORTHWEST INC 31093 AP _______________ Account: 135-60105-020-000 Rent/Lease Equipment Totals: 901.30 901.30 ** 200.00 Budgeted (701.30) Remaining 451 % Used Account: 135-60125-020-000 Advertising 188 11/30/2011 November A/P NOVEMBER PCARDS 987.36 987.36 JPMORGAN CHASE BANK NA 31080 AP _______________ Account: 135-60125-020-000 Advertising Totals: 987.36 987.36 ** .00 Budgeted (987.36) Remaining 0 % Used Account: 135-60135-020-000 Annual Permit Fee 7,432.50 .00 7,432.50 _______________ Account: 135-60135-020-000 Annual Permit Fee Totals: .00 7,432.50 ** 7,500.00 Budgeted 67.50 Remaining 99 % Used Account: 135-60245-020-000 Miscellaneous Expenses .00 .00 _______________ Account: 135-60245-020-000 Miscellaneous Expenses Totals: .00 .00 ** 525.00 Budgeted 525.00 Remaining 0 % Used Account: 135-60285-020-000 Lawn Equipment & Maintenance TCMUD No. 1 Page 84 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 38 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 20 Wastewater Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) .00 .00 _______________ Account: 135-60285-020-000 Lawn Equipment & Maintenance Totals: .00 .00 ** 525.00 Budgeted 525.00 Remaining 0 % Used Account: 135-65005-020-000 Fuel & Lube 191 11/30/2011 November Gas Log 444.50 444.50 GL _______________ Account: 135-65005-020-000 Fuel & Lube Totals: 444.50 444.50 ** 6,875.00 Budgeted 6,430.50 Remaining 6 % Used Account: 135-65010-020-000 Uniforms 188 11/30/2011 November A/P NOVEMBER PCARDS 195.49 195.49 JPMORGAN CHASE BANK NA 31080 AP 188 11/30/2011 November A/P NOVEMBER PCARDS 144.49 339.98 JPMORGAN CHASE BANK NA 31080 AP 188 11/30/2011 November A/P NOVEMBER PCARDS 148.74 488.72 JPMORGAN CHASE BANK NA 31080 AP 188 11/30/2011 November A/P NOVEMBER PCARDS 157.24 645.96 JPMORGAN CHASE BANK NA 31080 AP _______________ Account: 135-65010-020-000 Uniforms Totals: 645.96 645.96 ** 3,140.00 Budgeted 2,494.04 Remaining 21 % Used Account: 135-65030-020-000 Chemicals 188 11/30/2011 November A/P NOVEMBER PCARDS 1,350.00 149.11 1,499.11 JPMORGAN CHASE BANK NA 31080 AP _______________ Account: 135-65030-020-000 Chemicals Totals: 149.11 1,499.11 ** 13,180.00 Budgeted 11,680.89 Remaining 11 % Used Account: 135-65035-020-000 Small Tools .00 .00 _______________ Account: 135-65035-020-000 Small Tools Totals: .00 .00 ** 1,260.00 Budgeted 1,260.00 Remaining 0 % Used Account: 135-65040-020-000 Safety Equipment .00 .00 _______________ Account: 135-65040-020-000 Safety Equipment Totals: .00 .00 ** 925.00 Budgeted 925.00 Remaining 0 % Used TCMUD No. 1 Page 85 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 39 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 20 Wastewater Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 135-65045-020-000 Lab Supplies 188 11/30/2011 November A/P NOVEMBER PCARDS 97.67 97.67 JPMORGAN CHASE BANK NA 31080 AP 188 11/30/2011 November A/P NOVEMBER PCARDS 82.50 180.17 JPMORGAN CHASE BANK NA 31080 AP 188 11/30/2011 November A/P NOVEMBER PCARDS 74.83 255.00 JPMORGAN CHASE BANK NA 31080 AP 188 11/30/2011 November A/P NOVEMBER PCARDS 22.01 277.01 JPMORGAN CHASE BANK NA 31080 AP _______________ Account: 135-65045-020-000 Lab Supplies Totals: 277.01 277.01 ** 19,160.00 Budgeted 18,882.99 Remaining 1 % Used Account: 135-65055-020-000 Hardware .00 .00 _______________ Account: 135-65055-020-000 Hardware Totals: .00 .00 ** 525.00 Budgeted 525.00 Remaining 0 % Used Account: 135-65085-020-000 Office Supplies 924394 11/09/2011 Accounts Payable Office Supplies 23.14 23.14 Office Depot AP _______________ Account: 135-65085-020-000 Office Supplies Totals: 23.14 23.14 ** 400.00 Budgeted 376.86 Remaining 6 % Used Account: 135-65095-020-000 Maintenance Supplies 924649 11/18/2011 Accounts Payable Discharge hose 155.14 190.52 345.66 United Rentals Northwest, Inc. AP _______________ Account: 135-65095-020-000 Maintenance Supplies Totals: 190.52 345.66 ** 8,860.00 Budgeted 8,514.34 Remaining 4 % Used Account: 135-65115-020-000 Other Consumables .00 .00 _______________ Account: 135-65115-020-000 Other Consumables Totals: .00 .00 ** 110.00 Budgeted 110.00 Remaining 0 % Used Account: 135-69005-020-000 Capital Expenses 924639 11/08/2011 Accounts Payable Wastewater meters 16,278.71 16,278.71 Hach Company, Inc AP 137 11/30/2011 A/P INVOICES CHANGE OUT SEATS/NEW WW TRUCK 242.00 16,520.71 PHILPOTT MOTORS, LTD 31070 AP 137 11/30/2011 A/P INVOICES FORD F150 TRUCK/WW 18,279.55 34,800.26 PHILPOTT MOTORS, LTD 31070 AP TCMUD No. 1 Page 86 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 40 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 20 Wastewater Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) _______________ Account: 135-69005-020-000 Capital Expenses Totals: 34,800.26 34,800.26 ** 161,189.00 Budgeted 126,388.74 Remaining 22 % Used Account: 135-69280-020-000 Capital Repairs .00 .00 _______________ Account: 135-69280-020-000 Capital Repairs Totals: .00 .00 ** 56,000.00 Budgeted 56,000.00 Remaining 0 % Used Department 20 Totals: ------------------------------------------------------------------------------------------------ 147,155.54 ** 854,709.00 Budgeted 707,553.46 Remaining 17 % Used TCMUD No. 1 Page 87 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 41 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 21 Collection Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 135-50005-021-000 Salaries & Wages 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 11,082.16 5,541.08 16,623.24 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 5,541.08 22,164.32 PR _______________ Account: 135-50005-021-000 Salaries & Wages Totals: 11,082.16 22,164.32 ** 145,481.00 Budgeted 123,316.68 Remaining 15 % Used Account: 135-50010-021-000 Overtime 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 651.72 162.45 814.17 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 567.70 1,381.87 PR _______________ Account: 135-50010-021-000 Overtime Totals: 730.15 1,381.87 ** 7,297.00 Budgeted 5,915.13 Remaining 19 % Used Account: 135-50016-021-000 Longevity 924705 11/23/2011 Longevity 11/23/11 Longevity 11/23/11 3,547.50 3,547.50 PR _______________ Account: 135-50016-021-000 Longevity Totals: 3,547.50 3,547.50 ** 3,548.00 Budgeted .50 Remaining 100 % Used Account: 135-50017-021-000 Certification 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 125.00 125.00 250.00 PR _______________ Account: 135-50017-021-000 Certification Totals: 125.00 250.00 ** 1,500.00 Budgeted 1,250.00 Remaining 17 % Used Account: 135-50020-021-000 Retirement 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 1,679.22 807.62 2,486.84 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 882.70 3,369.54 PR 924705 11/23/2011 Longevity 11/23/11 Longevity 11/23/11 502.33 3,871.87 PR _______________ Account: 135-50020-021-000 Retirement Totals: 2,192.65 3,871.87 ** 21,074.00 Budgeted 17,202.13 Remaining 18 % Used Account: 135-50026-021-000 Medical Insurance 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 1,702.68 851.34 2,554.02 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 851.34 3,405.36 PR TCMUD No. 1 Page 88 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 42 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 21 Collection Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) _______________ Account: 135-50026-021-000 Medical Insurance Totals: 1,702.68 3,405.36 ** 22,983.00 Budgeted 19,577.64 Remaining 15 % Used Account: 135-50027-021-000 Dental Insurance 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 117.38 58.69 176.07 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 58.69 234.76 PR _______________ Account: 135-50027-021-000 Dental Insurance Totals: 117.38 234.76 ** 1,533.00 Budgeted 1,298.24 Remaining 15 % Used Account: 135-50028-021-000 Vision Insurance 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 29.72 14.86 44.58 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 14.86 59.44 PR _______________ Account: 135-50028-021-000 Vision Insurance Totals: 29.72 59.44 ** 357.00 Budgeted 297.56 Remaining 17 % Used Account: 135-50029-021-000 Life Insurance & Other .00 .00 _______________ Account: 135-50029-021-000 Life Insurance & Other Totals: .00 .00 ** 978.00 Budgeted 978.00 Remaining 0 % Used Account: 135-50030-021-000 Social Security Taxes 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 676.27 324.13 1,000.40 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 357.01 1,357.41 PR 924705 11/23/2011 Longevity 11/23/11 Longevity 11/23/11 219.95 1,577.36 PR _______________ Account: 135-50030-021-000 Social Security Taxes Totals: 901.09 1,577.36 ** 9,785.00 Budgeted 8,207.64 Remaining 16 % Used Account: 135-50035-021-000 Medicare Taxes 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 158.16 75.79 233.95 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 83.50 317.45 PR 924705 11/23/2011 Longevity 11/23/11 Longevity 11/23/11 51.45 368.90 PR _______________ Account: 135-50035-021-000 Medicare Taxes Totals: 210.74 368.90 ** 2,288.00 Budgeted 1,919.10 Remaining 16 % Used TCMUD No. 1 Page 89 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 43 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 21 Collection Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 135-50040-021-000 Unemployment Taxes .00 .00 _______________ Account: 135-50040-021-000 Unemployment Taxes Totals: .00 .00 ** 567.00 Budgeted 567.00 Remaining 0 % Used Account: 135-50045-021-000 Workman's Compensation 3,056.00 .00 3,056.00 _______________ Account: 135-50045-021-000 Workman's Compensation Totals: .00 3,056.00 ** 3,056.00 Budgeted .00 Remaining 100 % Used Account: 135-50070-021-000 Employee Relations .00 .00 _______________ Account: 135-50070-021-000 Employee Relations Totals: .00 .00 ** 250.00 Budgeted 250.00 Remaining 0 % Used Account: 135-55005-021-000 Engineering .00 .00 _______________ Account: 135-55005-021-000 Engineering Totals: .00 .00 ** 1,500.00 Budgeted 1,500.00 Remaining 0 % Used Account: 135-55070-021-000 Independent Labor .00 .00 _______________ Account: 135-55070-021-000 Independent Labor Totals: .00 .00 ** 200.00 Budgeted 200.00 Remaining 0 % Used Account: 135-55080-021-000 Maintenance & Repairs 924651 11/01/2011 Accounts Payable Tsurumi 100B47.5 10 HP Pump 158.45 2,241.78 2,400.23 NTPC, Inc. Dba North Texas Pum AP _______________ Account: 135-55080-021-000 Maintenance & Repairs Totals: 2,241.78 2,400.23 ** 23,700.00 Budgeted 21,299.77 Remaining 10 % Used Account: 135-55090-021-000 Vehicle Maintenance TCMUD No. 1 Page 90 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 44 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 21 Collection Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) 130.00 .00 130.00 _______________ Account: 135-55090-021-000 Vehicle Maintenance Totals: .00 130.00 ** 1,943.00 Budgeted 1,813.00 Remaining 7 % Used Account: 135-55100-021-000 Building Maint & Supplies .00 .00 _______________ Account: 135-55100-021-000 Building Maint & Supplies Totals: .00 .00 ** 750.00 Budgeted 750.00 Remaining 0 % Used Account: 135-60005-021-000 Telephone 3.23 .00 3.23 _______________ Account: 135-60005-021-000 Telephone Totals: .00 3.23 ** .00 Budgeted (3.23) Remaining 0 % Used Account: 135-60010-021-000 Communications/Pagers/Mobiles 924388 11/01/2011 Accounts Payable Cell phones 204.45 204.45 Verizon Wireless AP 188 11/30/2011 November A/P November cell phones 201.73 406.18 WEST PUBLISHING CORPORATION 31094 AP _______________ Account: 135-60010-021-000 Communications/Pagers/Mobiles Totals: 406.18 406.18 ** 2,796.00 Budgeted 2,389.82 Remaining 15 % Used Account: 135-60020-021-000 Electricity 924378 11/01/2011 Accounts Payable Electricity 645.48 246.22 891.70 Tri County Electric AP 924380 11/01/2011 Accounts Payable Electricity 137.00 1,028.70 Tri County Electric AP 924621 11/18/2011 Accounts Payable Electricity 10/13-11/11 197.69 1,226.39 Hudson Energy AP 924623 11/21/2011 Accounts Payable Electricity 10/11-11/11 701.00 1,927.39 Hudson Energy AP _______________ Account: 135-60020-021-000 Electricity Totals: 1,281.91 1,927.39 ** 23,625.00 Budgeted 21,697.61 Remaining 8 % Used Account: 135-60025-021-000 Water .00 .00 _______________ Account: 135-60025-021-000 Water Totals: .00 .00 ** 750.00 Budgeted 750.00 Remaining 0 % Used TCMUD No. 1 Page 91 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 45 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 21 Collection Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 135-60035-021-000 Postage .00 .00 _______________ Account: 135-60035-021-000 Postage Totals: .00 .00 ** 150.00 Budgeted 150.00 Remaining 0 % Used Account: 135-60070-021-000 Dues & Memberships .00 .00 _______________ Account: 135-60070-021-000 Dues & Memberships Totals: .00 .00 ** 255.00 Budgeted 255.00 Remaining 0 % Used Account: 135-60080-021-000 Schools & Training .00 .00 _______________ Account: 135-60080-021-000 Schools & Training Totals: .00 .00 ** 2,818.00 Budgeted 2,818.00 Remaining 0 % Used Account: 135-60090-021-000 Safety Program .00 .00 _______________ Account: 135-60090-021-000 Safety Program Totals: .00 .00 ** 750.00 Budgeted 750.00 Remaining 0 % Used Account: 135-60100-021-000 Travel & per diem 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 96.58 16.10 112.68 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 64.38 177.06 PR _______________ Account: 135-60100-021-000 Travel & per diem Totals: 80.48 177.06 ** 1,500.00 Budgeted 1,322.94 Remaining 12 % Used Account: 135-60105-021-000 Rent/Lease Equipment .00 .00 _______________ Account: 135-60105-021-000 Rent/Lease Equipment Totals: .00 .00 ** 44,107.00 Budgeted 44,107.00 Remaining 0 % Used Account: 135-60245-021-000 Miscellaneous Expenses TCMUD No. 1 Page 92 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 46 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 21 Collection Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) .00 .00 _______________ Account: 135-60245-021-000 Miscellaneous Expenses Totals: .00 .00 ** 100.00 Budgeted 100.00 Remaining 0 % Used Account: 135-60280-021-000 Property Maintenance .00 .00 _______________ Account: 135-60280-021-000 Property Maintenance Totals: .00 .00 ** 1,000.00 Budgeted 1,000.00 Remaining 0 % Used Account: 135-65005-021-000 Fuel & Lube 191 11/30/2011 November Gas Log 1,454.09 1,454.09 GL _______________ Account: 135-65005-021-000 Fuel & Lube Totals: 1,454.09 1,454.09 ** 11,700.00 Budgeted 10,245.91 Remaining 12 % Used Account: 135-65010-021-000 Uniforms 188 11/30/2011 November A/P NOVEMBER PCARDS 175.00 175.00 JPMORGAN CHASE BANK NA 31080 AP 188 11/30/2011 November A/P NOVEMBER PCARDS 175.00 350.00 JPMORGAN CHASE BANK NA 31080 AP _______________ Account: 135-65010-021-000 Uniforms Totals: 350.00 350.00 ** 2,505.00 Budgeted 2,155.00 Remaining 14 % Used Account: 135-65030-021-000 Chemicals .00 .00 _______________ Account: 135-65030-021-000 Chemicals Totals: .00 .00 ** 12,500.00 Budgeted 12,500.00 Remaining 0 % Used Account: 135-65035-021-000 Small Tools .00 .00 _______________ Account: 135-65035-021-000 Small Tools Totals: .00 .00 ** 1,500.00 Budgeted 1,500.00 Remaining 0 % Used Account: 135-65040-021-000 Safety Equipment TCMUD No. 1 Page 93 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 47 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 21 Collection Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) .00 .00 _______________ Account: 135-65040-021-000 Safety Equipment Totals: .00 .00 ** 1,150.00 Budgeted 1,150.00 Remaining 0 % Used Account: 135-65055-021-000 Hardware 188 11/30/2011 November A/P NOVEMBER PCARDS 44.95 44.95 JPMORGAN CHASE BANK NA 31080 AP _______________ Account: 135-65055-021-000 Hardware Totals: 44.95 44.95 ** 750.00 Budgeted 705.05 Remaining 6 % Used Account: 135-65095-021-000 Maintenance Supplies 188 11/30/2011 November A/P NOVEMBER PCARDS 15.12 15.12 JPMORGAN CHASE BANK NA 31080 AP _______________ Account: 135-65095-021-000 Maintenance Supplies Totals: 15.12 15.12 ** 16,050.00 Budgeted 16,034.88 Remaining 0 % Used Account: 135-69005-021-000 Capital Expenses 924408 11/20/2011 Accounts Payable Balance due/Loan payment Gapva 31,991.00 31,991.00 First Financial Bank AP _______________ Account: 135-69005-021-000 Capital Expenses Totals: 31,991.00 31,991.00 ** 15,000.00 Budgeted (16,991.00) Remaining 213 % Used Account: 135-69280-021-000 Capital Repairs .00 .00 _______________ Account: 135-69280-021-000 Capital Repairs Totals: .00 .00 ** 20,000.00 Budgeted 20,000.00 Remaining 0 % Used Department 21 Totals: ------------------------------------------------------------------------------------------------ 78,816.63 ** 407,796.00 Budgeted 328,979.37 Remaining 19 % Used TCMUD No. 1 Page 94 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 48 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 26 Board of Directors Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 135-50005-026-000 Salaries & Wages 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 800.00 500.00 1,300.00 PR _______________ Account: 135-50005-026-000 Salaries & Wages Totals: 500.00 1,300.00 ** 10,000.00 Budgeted 8,700.00 Remaining 13 % Used Account: 135-50030-026-000 Social Security Taxes 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 49.60 31.00 80.60 PR _______________ Account: 135-50030-026-000 Social Security Taxes Totals: 31.00 80.60 ** 620.00 Budgeted 539.40 Remaining 13 % Used Account: 135-50035-026-000 Medicare Taxes 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 11.60 7.25 18.85 PR _______________ Account: 135-50035-026-000 Medicare Taxes Totals: 7.25 18.85 ** 145.00 Budgeted 126.15 Remaining 13 % Used Account: 135-50040-026-000 Unemployment Taxes 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 6.40 4.00 10.40 PR _______________ Account: 135-50040-026-000 Unemployment Taxes Totals: 4.00 10.40 ** 210.00 Budgeted 199.60 Remaining 5 % Used Account: 135-50045-026-000 Workman's Compensation 120.00 .00 120.00 _______________ Account: 135-50045-026-000 Workman's Compensation Totals: .00 120.00 ** 120.00 Budgeted .00 Remaining 100 % Used Account: 135-60066-026-000 Publications/Books/Subscripts .00 .00 _______________ Account: 135-60066-026-000 Publications/Books/Subscripts Totals: .00 .00 ** 50.00 Budgeted 50.00 Remaining 0 % Used Account: 135-60070-026-000 Dues & Memberships TCMUD No. 1 Page 95 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 49 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 26 Board of Directors Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) 924613 11/14/2011 Accounts Payable Annual Dues 100.00 550.00 650.00 Association of Water Board Dir AP 924643 11/23/2011 Accounts Payable Annual Admin fee 35.00 685.00 Texas Social Security Program AP _______________ Account: 135-60070-026-000 Dues & Memberships Totals: 585.00 685.00 ** 2,100.00 Budgeted 1,415.00 Remaining 33 % Used Account: 135-60075-026-000 Meetings 923926 11/03/2011 Accounts Payable Chamber Luncheon/Sanders, Arms 44.00 44.00 88.00 Northwest Metroport Chamber AP 188 11/30/2011 November A/P NOVEMBER PCARDS 22.00 110.00 JPMORGAN CHASE BANK NA 31080 AP _______________ Account: 135-60075-026-000 Meetings Totals: 66.00 110.00 ** 1,278.00 Budgeted 1,168.00 Remaining 9 % Used Account: 135-60080-026-000 Schools & Training 923467 11/01/2011 Accounts Payable Sanders Mid Winter Conference 80.00 265.00 345.00 Association of Water Board Dir AP 923469 11/01/2011 Accounts Payable Thomas Mid Winter Conference 265.00 610.00 Association of Water Board Dir AP _______________ Account: 135-60080-026-000 Schools & Training Totals: 530.00 610.00 ** 4,150.00 Budgeted 3,540.00 Remaining 15 % Used Account: 135-60100-026-000 Travel & per diem .00 .00 _______________ Account: 135-60100-026-000 Travel & per diem Totals: .00 .00 ** 6,199.00 Budgeted 6,199.00 Remaining 0 % Used Account: 135-60245-026-000 Miscellaneous Expenses .00 .00 _______________ Account: 135-60245-026-000 Miscellaneous Expenses Totals: .00 .00 ** 3,200.00 Budgeted 3,200.00 Remaining 0 % Used Account: 135-65085-026-000 Office Supplies .00 .00 _______________ Account: 135-65085-026-000 Office Supplies Totals: .00 .00 ** 50.00 Budgeted 50.00 Remaining 0 % Used TCMUD No. 1 Page 96 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 50 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 26 Board of Directors Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Department 26 Totals: ------------------------------------------------------------------------------------------------ 2,934.85 ** 28,122.00 Budgeted 25,187.15 Remaining 10 % Used TCMUD No. 1 Page 97 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 51 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 27 Manager's Office Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 135-50005-027-000 Salaries & Wages 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 13,653.88 6,948.05 20,601.93 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 6,078.00 26,679.93 PR _______________ Account: 135-50005-027-000 Salaries & Wages Totals: 13,026.05 26,679.93 ** 236,831.00 Budgeted 210,151.07 Remaining 11 % Used Account: 135-50010-027-000 Overtime 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 201.36 251.00 452.36 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 168.72 621.08 PR _______________ Account: 135-50010-027-000 Overtime Totals: 419.72 621.08 ** 1,000.00 Budgeted 378.92 Remaining 62 % Used Account: 135-50016-027-000 Longevity 924705 11/23/2011 Longevity 11/23/11 Longevity 11/23/11 1,845.00 1,845.00 PR _______________ Account: 135-50016-027-000 Longevity Totals: 1,845.00 1,845.00 ** 1,845.00 Budgeted .00 Remaining 100 % Used Account: 135-50020-027-000 Retirement 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 1,961.92 1,019.38 2,981.30 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 884.53 3,865.83 PR 924705 11/23/2011 Longevity 11/23/11 Longevity 11/23/11 261.26 4,127.09 PR _______________ Account: 135-50020-027-000 Retirement Totals: 2,165.17 4,127.09 ** 33,471.00 Budgeted 29,343.91 Remaining 12 % Used Account: 135-50026-027-000 Medical Insurance 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 1,269.12 647.03 1,916.15 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 498.34 2,414.49 PR _______________ Account: 135-50026-027-000 Medical Insurance Totals: 1,145.37 2,414.49 ** 18,798.00 Budgeted 16,383.51 Remaining 13 % Used Account: 135-50027-027-000 Dental Insurance 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 94.62 48.07 142.69 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 38.83 181.52 PR TCMUD No. 1 Page 98 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 52 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 27 Manager's Office Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) _______________ Account: 135-50027-027-000 Dental Insurance Totals: 86.90 181.52 ** 1,242.00 Budgeted 1,060.48 Remaining 15 % Used Account: 135-50028-027-000 Vision Insurance 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 23.98 12.23 36.21 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 9.49 45.70 PR _______________ Account: 135-50028-027-000 Vision Insurance Totals: 21.72 45.70 ** 341.00 Budgeted 295.30 Remaining 13 % Used Account: 135-50029-027-000 Life Insurance & Other .00 .00 _______________ Account: 135-50029-027-000 Life Insurance & Other Totals: .00 .00 ** 1,337.00 Budgeted 1,337.00 Remaining 0 % Used Account: 135-50030-027-000 Social Security Taxes 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 817.09 424.90 1,241.99 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 371.53 1,613.52 PR 924705 11/23/2011 Longevity 11/23/11 Longevity 11/23/11 114.39 1,727.91 PR _______________ Account: 135-50030-027-000 Social Security Taxes Totals: 910.82 1,727.91 ** 14,860.00 Budgeted 13,132.09 Remaining 12 % Used Account: 135-50035-027-000 Medicare Taxes 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 191.10 99.41 290.51 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 86.89 377.40 PR 924705 11/23/2011 Longevity 11/23/11 Longevity 11/23/11 26.75 404.15 PR _______________ Account: 135-50035-027-000 Medicare Taxes Totals: 213.05 404.15 ** 3,475.00 Budgeted 3,070.85 Remaining 12 % Used Account: 135-50040-027-000 Unemployment Taxes 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 9.94 .03 9.97 PR _______________ Account: 135-50040-027-000 Unemployment Taxes Totals: .03 9.97 ** 756.00 Budgeted 746.03 Remaining 1 % Used TCMUD No. 1 Page 99 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 53 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 27 Manager's Office Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 135-50045-027-000 Workman's Compensation 580.00 .00 580.00 _______________ Account: 135-50045-027-000 Workman's Compensation Totals: .00 580.00 ** 580.00 Budgeted .00 Remaining 100 % Used Account: 135-50070-027-000 Employee Relations 188 11/30/2011 November A/P NOVEMBER PCARDS 56.57 13.92 70.49 JPMORGAN CHASE BANK NA 31080 AP 188 11/30/2011 November A/P NOVEMBER PCARDS 18.77 89.26 JPMORGAN CHASE BANK NA 31080 AP 188 11/30/2011 November A/P NOVEMBER PCARDS 18.13 107.39 JPMORGAN CHASE BANK NA 31080 AP 188 11/30/2011 November A/P NOVEMBER PCARDS 3.94 111.33 JPMORGAN CHASE BANK NA 31080 AP _______________ Account: 135-50070-027-000 Employee Relations Totals: 54.76 111.33 ** 5,000.00 Budgeted 4,888.67 Remaining 2 % Used Account: 135-55070-027-000 Independent Labor 924418 11/15/2011 Accounts Payable Record MUD Meeting 33.75 41.25 75.00 Miguel Cruz AP _______________ Account: 135-55070-027-000 Independent Labor Totals: 41.25 75.00 ** 840.00 Budgeted 765.00 Remaining 9 % Used Account: 135-55075-027-000 Records Management .00 .00 _______________ Account: 135-55075-027-000 Records Management Totals: .00 .00 ** 500.00 Budgeted 500.00 Remaining 0 % Used Account: 135-55160-027-000 Professional Outside Services .00 .00 _______________ Account: 135-55160-027-000 Professional Outside Services Totals: .00 .00 ** 176,870.00 Budgeted 176,870.00 Remaining 0 % Used Account: 135-60005-027-000 Telephone 40.37 .00 40.37 _______________ Account: 135-60005-027-000 Telephone Totals: .00 40.37 ** 300.00 Budgeted 259.63 Remaining 13 % Used TCMUD No. 1 Page 100 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 54 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 27 Manager's Office Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 135-60010-027-000 Communications/Pagers/Mobiles 924388 11/01/2011 Accounts Payable Cell phones 137.30 137.30 Verizon Wireless AP 188 11/30/2011 November A/P November cell phones 141.36 278.66 WEST PUBLISHING CORPORATION 31094 AP _______________ Account: 135-60010-027-000 Communications/Pagers/Mobiles Totals: 278.66 278.66 ** 2,420.00 Budgeted 2,141.34 Remaining 12 % Used Account: 135-60035-027-000 Postage 925146 11/30/2011 November Postage Meter November Postage Meter 237.92 17.47 255.39 GL _______________ Account: 135-60035-027-000 Postage Totals: 17.47 255.39 ** .00 Budgeted (255.39) Remaining 0 % Used Account: 135-60066-027-000 Publications/Books/Subscripts 188 11/30/2011 November A/P Books, Publications PCard-Depr 88.50 88.50 JPMORGAN CHASE BANK NA 31080 AP _______________ Account: 135-60066-027-000 Publications/Books/Subscripts Totals: 88.50 88.50 ** 450.00 Budgeted 361.50 Remaining 20 % Used Account: 135-60070-027-000 Dues & Memberships 188 11/30/2011 November A/P NOVEMBER PCARDS 250.00 449.00 699.00 JPMORGAN CHASE BANK NA 31080 AP 188 11/30/2011 November A/P NOVEMBER PCARDS 25.00 724.00 JPMORGAN CHASE BANK NA 31080 AP _______________ Account: 135-60070-027-000 Dues & Memberships Totals: 474.00 724.00 ** 1,742.00 Budgeted 1,018.00 Remaining 42 % Used Account: 135-60075-027-000 Meetings .00 .00 _______________ Account: 135-60075-027-000 Meetings Totals: .00 .00 ** 312.00 Budgeted 312.00 Remaining 0 % Used Account: 135-60080-027-000 Schools & Training 130.00 .00 130.00 _______________ Account: 135-60080-027-000 Schools & Training Totals: .00 130.00 ** 2,555.00 Budgeted 2,425.00 Remaining 5 % Used TCMUD No. 1 Page 101 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 55 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 27 Manager's Office Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 135-60100-027-000 Travel & per diem 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 36.85 61.05 97.90 PR _______________ Account: 135-60100-027-000 Travel & per diem Totals: 61.05 97.90 ** 3,851.00 Budgeted 3,753.10 Remaining 3 % Used Account: 135-60115-027-000 Elections .00 .00 _______________ Account: 135-60115-027-000 Elections Totals: .00 .00 ** 2,500.00 Budgeted 2,500.00 Remaining 0 % Used Account: 135-60125-027-000 Advertising .00 .00 _______________ Account: 135-60125-027-000 Advertising Totals: .00 .00 ** 4,700.00 Budgeted 4,700.00 Remaining 0 % Used Account: 135-60245-027-000 Miscellaneous Expenses .00 .00 _______________ Account: 135-60245-027-000 Miscellaneous Expenses Totals: .00 .00 ** 100.00 Budgeted 100.00 Remaining 0 % Used Account: 135-60270-027-000 4th of July Celebration .00 .00 _______________ Account: 135-60270-027-000 4th of July Celebration Totals: .00 .00 ** 10,000.00 Budgeted 10,000.00 Remaining 0 % Used Account: 135-60360-027-000 Furniture/Equipment < $5000 .00 .00 _______________ Account: 135-60360-027-000 Furniture/Equipment < $5000 Totals: .00 .00 ** 2,225.00 Budgeted 2,225.00 Remaining 0 % Used Account: 135-65085-027-000 Office Supplies TCMUD No. 1 Page 102 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 56 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 27 Manager's Office Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) 924398 11/01/2011 Accounts Payable Office Supplies 117.66 (7.62) 110.04 Office Depot AP 924396 11/04/2011 Accounts Payable Office Supplies 69.64 179.68 Office Depot AP 924400 11/10/2011 Accounts Payable Office Supplies 2.99 182.67 Office Depot AP 924402 11/10/2011 Accounts Payable Office Supplies 6.56 189.23 Office Depot AP _______________ Account: 135-65085-027-000 Office Supplies Totals: 71.57 189.23 ** 2,450.00 Budgeted 2,260.77 Remaining 8 % Used Account: 135-65105-027-000 Printing .00 .00 _______________ Account: 135-65105-027-000 Printing Totals: .00 .00 ** 515.00 Budgeted 515.00 Remaining 0 % Used Department 27 Totals: ------------------------------------------------------------------------------------------------ 40,627.22 ** 531,866.00 Budgeted 491,238.78 Remaining 8 % Used TCMUD No. 1 Page 103 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 57 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 28 Human Resources Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 135-50070-028-000 Employee Relations 188 11/30/2011 November A/P NOVEMBER PCARDS 50.11 287.18 337.29 JPMORGAN CHASE BANK NA 31080 AP 188 11/30/2011 November A/P NOVEMBER PCARDS (13.20) 324.09 JPMORGAN CHASE BANK NA 31080 AP 188 11/30/2011 November A/P NOVEMBER PCARDS 19.85 343.94 JPMORGAN CHASE BANK NA 31080 AP _______________ Account: 135-50070-028-000 Employee Relations Totals: 293.83 343.94 ** 1,967.00 Budgeted 1,623.06 Remaining 17 % Used Account: 135-50075-028-000 Tuition Reimbursement .00 .00 _______________ Account: 135-50075-028-000 Tuition Reimbursement Totals: .00 .00 ** 1,561.00 Budgeted 1,561.00 Remaining 0 % Used Account: 135-60005-028-000 Telephone .00 .00 _______________ Account: 135-60005-028-000 Telephone Totals: .00 .00 ** 28.00 Budgeted 28.00 Remaining 0 % Used Account: 135-60035-028-000 Postage .00 .00 _______________ Account: 135-60035-028-000 Postage Totals: .00 .00 ** 106.00 Budgeted 106.00 Remaining 0 % Used Account: 135-60066-028-000 Publications/Books/Subscripts .00 .00 _______________ Account: 135-60066-028-000 Publications/Books/Subscripts Totals: .00 .00 ** 485.00 Budgeted 485.00 Remaining 0 % Used Account: 135-60070-028-000 Dues & Memberships .00 .00 _______________ Account: 135-60070-028-000 Dues & Memberships Totals: .00 .00 ** 555.00 Budgeted 555.00 Remaining 0 % Used TCMUD No. 1 Page 104 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 58 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 28 Human Resources Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 135-60075-028-000 Meetings .00 .00 _______________ Account: 135-60075-028-000 Meetings Totals: .00 .00 ** 138.00 Budgeted 138.00 Remaining 0 % Used Account: 135-60080-028-000 Schools & Training .00 .00 _______________ Account: 135-60080-028-000 Schools & Training Totals: .00 .00 ** 594.00 Budgeted 594.00 Remaining 0 % Used Account: 135-60100-028-000 Travel & per diem .00 .00 _______________ Account: 135-60100-028-000 Travel & per diem Totals: .00 .00 ** 8.00 Budgeted 8.00 Remaining 0 % Used Account: 135-60110-028-000 Physicals/Testing .00 .00 _______________ Account: 135-60110-028-000 Physicals/Testing Totals: .00 .00 ** 1,560.00 Budgeted 1,560.00 Remaining 0 % Used Account: 135-65085-028-000 Office Supplies .00 .00 _______________ Account: 135-65085-028-000 Office Supplies Totals: .00 .00 ** 437.00 Budgeted 437.00 Remaining 0 % Used Account: 135-65105-028-000 Printing .00 .00 _______________ Account: 135-65105-028-000 Printing Totals: .00 .00 ** 116.00 Budgeted 116.00 Remaining 0 % Used Department 28 Totals: ------------------------------------------------------------------------------------------------ 343.94 ** 7,555.00 Budgeted 7,211.06 Remaining 5 % Used TCMUD No. 1 Page 105 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 59 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 29 Finance Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 135-50005-029-000 Salaries & Wages 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 7,500.00 3,742.63 11,242.63 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 3,750.00 14,992.63 PR _______________ Account: 135-50005-029-000 Salaries & Wages Totals: 7,492.63 14,992.63 ** 94,404.00 Budgeted 79,411.37 Remaining 16 % Used Account: 135-50010-029-000 Overtime 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 187.78 244.27 432.05 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 164.31 596.36 PR _______________ Account: 135-50010-029-000 Overtime Totals: 408.58 596.36 ** 1,000.00 Budgeted 403.64 Remaining 60 % Used Account: 135-50016-029-000 Longevity 924705 11/23/2011 Longevity 11/23/11 Longevity 11/23/11 1,822.50 1,822.50 PR _______________ Account: 135-50016-029-000 Longevity Totals: 1,822.50 1,822.50 ** 1,823.00 Budgeted .50 Remaining 100 % Used Account: 135-50020-029-000 Retirement 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 1,088.58 564.54 1,653.12 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 554.28 2,207.40 PR 924705 11/23/2011 Longevity 11/23/11 Longevity 11/23/11 258.06 2,465.46 PR _______________ Account: 135-50020-029-000 Retirement Totals: 1,376.88 2,465.46 ** 13,612.00 Budgeted 11,146.54 Remaining 18 % Used Account: 135-50026-029-000 Medical Insurance 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 921.35 460.84 1,382.19 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 460.85 1,843.04 PR _______________ Account: 135-50026-029-000 Medical Insurance Totals: 921.69 1,843.04 ** 11,060.00 Budgeted 9,216.96 Remaining 17 % Used Account: 135-50027-029-000 Dental Insurance 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 73.49 36.77 110.26 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 36.77 147.03 PR TCMUD No. 1 Page 106 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 60 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 29 Finance Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) _______________ Account: 135-50027-029-000 Dental Insurance Totals: 73.54 147.03 ** 773.00 Budgeted 625.97 Remaining 19 % Used Account: 135-50028-029-000 Vision Insurance 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 12.49 6.25 18.74 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 6.26 25.00 PR _______________ Account: 135-50028-029-000 Vision Insurance Totals: 12.51 25.00 ** 207.00 Budgeted 182.00 Remaining 12 % Used Account: 135-50029-029-000 Life Insurance & Other .00 .00 _______________ Account: 135-50029-029-000 Life Insurance & Other Totals: .00 .00 ** 567.00 Budgeted 567.00 Remaining 0 % Used Account: 135-50030-029-000 Social Security Taxes 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 408.43 213.07 621.50 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 208.56 830.06 PR 924705 11/23/2011 Longevity 11/23/11 Longevity 11/23/11 113.00 943.06 PR _______________ Account: 135-50030-029-000 Social Security Taxes Totals: 534.63 943.06 ** 5,386.00 Budgeted 4,442.94 Remaining 18 % Used Account: 135-50035-029-000 Medicare Taxes 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 95.52 49.82 145.34 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 48.78 194.12 PR 924705 11/23/2011 Longevity 11/23/11 Longevity 11/23/11 26.43 220.55 PR _______________ Account: 135-50035-029-000 Medicare Taxes Totals: 125.03 220.55 ** 1,260.00 Budgeted 1,039.45 Remaining 18 % Used Account: 135-50040-029-000 Unemployment Taxes .00 .00 _______________ Account: 135-50040-029-000 Unemployment Taxes Totals: .00 .00 ** 284.00 Budgeted 284.00 Remaining 0 % Used TCMUD No. 1 Page 107 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 61 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 29 Finance Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 135-50045-029-000 Workman's Compensation 211.00 .00 211.00 _______________ Account: 135-50045-029-000 Workman's Compensation Totals: .00 211.00 ** 235.00 Budgeted 24.00 Remaining 90 % Used Account: 135-55160-029-000 Professional Outside Services .00 .00 _______________ Account: 135-55160-029-000 Professional Outside Services Totals: .00 .00 ** 5,000.00 Budgeted 5,000.00 Remaining 0 % Used Account: 135-60005-029-000 Telephone 11.44 .00 11.44 _______________ Account: 135-60005-029-000 Telephone Totals: .00 11.44 ** 103.00 Budgeted 91.56 Remaining 11 % Used Account: 135-60010-029-000 Communications/Pagers/Mobiles 924388 11/01/2011 Accounts Payable Cell phones 46.85 46.85 Verizon Wireless AP 188 11/30/2011 November A/P November cell phones 51.56 98.41 WEST PUBLISHING CORPORATION 31094 AP _______________ Account: 135-60010-029-000 Communications/Pagers/Mobiles Totals: 98.41 98.41 ** 683.00 Budgeted 584.59 Remaining 14 % Used Account: 135-60035-029-000 Postage 925146 11/30/2011 November Postage Meter November Postage Meter 33.44 26.40 59.84 GL _______________ Account: 135-60035-029-000 Postage Totals: 26.40 59.84 ** 700.00 Budgeted 640.16 Remaining 9 % Used Account: 135-60040-029-000 Service Charges & Fees .00 .00 _______________ Account: 135-60040-029-000 Service Charges & Fees Totals: .00 .00 ** 79.00 Budgeted 79.00 Remaining 0 % Used Account: 135-60066-029-000 Publications/Books/Subscripts TCMUD No. 1 Page 108 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 62 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 29 Finance Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) .00 .00 _______________ Account: 135-60066-029-000 Publications/Books/Subscripts Totals: .00 .00 ** 500.00 Budgeted 500.00 Remaining 0 % Used Account: 135-60070-029-000 Dues & Memberships .00 .00 _______________ Account: 135-60070-029-000 Dues & Memberships Totals: .00 .00 ** 660.00 Budgeted 660.00 Remaining 0 % Used Account: 135-60075-029-000 Meetings 22.00 .00 22.00 _______________ Account: 135-60075-029-000 Meetings Totals: .00 22.00 ** 300.00 Budgeted 278.00 Remaining 7 % Used Account: 135-60080-029-000 Schools & Training .00 .00 _______________ Account: 135-60080-029-000 Schools & Training Totals: .00 .00 ** 2,000.00 Budgeted 2,000.00 Remaining 0 % Used Account: 135-60100-029-000 Travel & per diem 15.04 .00 15.04 _______________ Account: 135-60100-029-000 Travel & per diem Totals: .00 15.04 ** 1,500.00 Budgeted 1,484.96 Remaining 1 % Used Account: 135-60125-029-000 Advertising .00 .00 _______________ Account: 135-60125-029-000 Advertising Totals: .00 .00 ** 1,210.00 Budgeted 1,210.00 Remaining 0 % Used Account: 135-60245-029-000 Miscellaneous Expenses .00 .00 TCMUD No. 1 Page 109 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 63 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 29 Finance Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) _______________ Account: 135-60245-029-000 Miscellaneous Expenses Totals: .00 .00 ** 200.00 Budgeted 200.00 Remaining 0 % Used Account: 135-65085-029-000 Office Supplies 924400 11/10/2011 Accounts Payable Office Supplies 11.80 11.80 Office Depot AP _______________ Account: 135-65085-029-000 Office Supplies Totals: 11.80 11.80 ** 849.00 Budgeted 837.20 Remaining 1 % Used Account: 135-65105-029-000 Printing .00 .00 _______________ Account: 135-65105-029-000 Printing Totals: .00 .00 ** 515.00 Budgeted 515.00 Remaining 0 % Used Department 29 Totals: ------------------------------------------------------------------------------------------------ 23,485.16 ** 144,910.00 Budgeted 121,424.84 Remaining 16 % Used TCMUD No. 1 Page 110 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 64 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 33 Information Systems Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 135-55030-033-000 Software & Support 923679 11/01/2011 Accounts Payable Internet service/November 1,747.76 336.50 2,084.26 Bandwidth.com, Inc. AP 924647 11/09/2011 Accounts Payable Super maintenance Gas tank 1,152.38 3,236.64 Syn-Tech Systems, Inc. AP 924406 11/11/2011 Accounts Payable Firewall annual maintenance 960.00 4,196.64 Acclaim Networks LLC AP 924637 11/17/2011 Accounts Payable Annual Audiotel, check reader 577.50 4,774.14 Technique Data Systems Inc AP 924617 11/21/2011 Accounts Payable Marquee repair 542.50 5,316.64 ENTECH Assc/ENTECH SIGNS AP 924629 11/21/2011 Accounts Payable Win Pro 7 434.00 5,750.64 SHI Governmental Solutions AP 924631 11/21/2011 Accounts Payable Software 2,377.50 8,128.14 SHI Governmental Solutions AP 925042 11/27/2011 Accounts Payable Pastor 178.47 8,306.61 Bank of America AP 925042 11/27/2011 Accounts Payable Pastor 25.00 8,331.61 Bank of America AP 925042 11/27/2011 Accounts Payable Steve Z. 373.70 8,705.31 Bank of America AP 925042 11/27/2011 Accounts Payable Steve Z. 54.99 8,760.30 Bank of America AP 925042 11/27/2011 Accounts Payable Steve Z. 53.38 8,813.68 Bank of America AP _______________ Account: 135-55030-033-000 Software & Support Totals: 7,065.92 8,813.68 ** 64,149.00 Budgeted 55,335.32 Remaining 14 % Used Account: 135-55070-033-000 Independent Labor 218.75 .00 218.75 _______________ Account: 135-55070-033-000 Independent Labor Totals: .00 218.75 ** 1,650.00 Budgeted 1,431.25 Remaining 13 % Used Account: 135-60005-033-000 Telephone 925042 11/27/2011 Accounts Payable Steve Z. 818.25 454.23 1,272.48 Bank of America AP 925042 11/27/2011 Accounts Payable Steve Z. 366.39 1,638.87 Bank of America AP _______________ Account: 135-60005-033-000 Telephone Totals: 820.62 1,638.87 ** 6,540.00 Budgeted 4,901.13 Remaining 25 % Used Account: 135-60235-033-000 Security .00 .00 _______________ Account: 135-60235-033-000 Security Totals: .00 .00 ** 1,350.00 Budgeted 1,350.00 Remaining 0 % Used Account: 135-65055-033-000 Hardware 924412 11/01/2011 Accounts Payable Wall plates 2,139.36 2.24 2,141.60 SHI Governmental Solutions AP 924414 11/04/2011 Accounts Payable Wall plates 2.52 2,144.12 SHI Governmental Solutions AP TCMUD No. 1 Page 111 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 65 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 33 Information Systems Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) 924416 11/08/2011 Accounts Payable Wall plate 2,139.36 .28 2,144.40 SHI Governmental Solutions AP 924633 11/18/2011 Accounts Payable USB to IP Converter 177.80 2,322.20 SHI Governmental Solutions AP 924627 11/22/2011 Accounts Payable CD Media 10.50 2,332.70 SHI Governmental Solutions AP 925042 11/27/2011 Accounts Payable Pastor 57.69 2,390.39 Bank of America AP 925042 11/27/2011 Accounts Payable Pastor 77.17 2,467.56 Bank of America AP 925042 11/27/2011 Accounts Payable Steve Z. 474.96 2,942.52 Bank of America AP 925042 11/27/2011 Accounts Payable Steve Z. 383.06 3,325.58 Bank of America AP 925042 11/27/2011 Accounts Payable Steve Z. 54.00 3,379.58 Bank of America AP 188 11/30/2011 November A/P Projector 381.50 3,761.08 SHI GOVERNMENT SOLUTIONS,INC 31085 AP 188 11/30/2011 November A/P VM ware Backup 2,124.00 5,885.08 SHI GOVERNMENT SOLUTIONS,INC 31085 AP _______________ Account: 135-65055-033-000 Hardware Totals: 3,745.72 5,885.08 ** 83,238.00 Budgeted 77,352.92 Remaining 7 % Used Account: 135-65085-033-000 Office Supplies 188 11/30/2011 November A/P DVD Media 107.12 107.12 SHI GOVERNMENT SOLUTIONS,INC 31085 AP _______________ Account: 135-65085-033-000 Office Supplies Totals: 107.12 107.12 ** 371.00 Budgeted 263.88 Remaining 29 % Used Account: 135-65090-033-000 Printer Supplies & Maintenance 925108 11/01/2011 Accounts Payable Plotter glass replacement 589.88 182.00 771.88 Austin Ribbon & Computer Suppl AP 925042 11/27/2011 Accounts Payable Steve Z. 62.00 833.88 Bank of America AP 925042 11/27/2011 Accounts Payable Steve Z. 126.00 959.88 Bank of America AP 188 11/30/2011 November A/P Printer supplies 140.50 1,100.38 SHI GOVERNMENT SOLUTIONS,INC 31085 AP 188 11/30/2011 November A/P Printer supplies 526.00 1,626.38 SHI GOVERNMENT SOLUTIONS,INC 31085 AP _______________ Account: 135-65090-033-000 Printer Supplies & Maintenance Totals: 1,036.50 1,626.38 ** 5,732.00 Budgeted 4,105.62 Remaining 28 % Used Account: 135-69170-033-000 Copier Lease Installments 924374 11/06/2011 Accounts Payable Copier lease 256.85 256.85 Kyocera Mita America, Inc AP _______________ Account: 135-69170-033-000 Copier Lease Installments Totals: 256.85 256.85 ** 3,450.00 Budgeted 3,193.15 Remaining 7 % Used Account: 135-69195-033-000 Gasb34/Reserve for Replacement .00 .00 TCMUD No. 1 Page 112 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 66 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 33 Information Systems Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) _______________ Account: 135-69195-033-000 Gasb34/Reserve for Replacement Totals: .00 .00 ** 26,911.00 Budgeted 26,911.00 Remaining 0 % Used Department 33 Totals: ------------------------------------------------------------------------------------------------ 18,546.73 ** 193,391.00 Budgeted 174,844.27 Remaining 10 % Used TCMUD No. 1 Page 113 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 67 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 37 Facilities Maintenance Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 135-50005-037-000 Salaries & Wages .00 .00 _______________ Account: 135-50005-037-000 Salaries & Wages Totals: .00 .00 ** 31,512.00 Budgeted 31,512.00 Remaining 0 % Used Account: 135-50020-037-000 Retirement .00 .00 _______________ Account: 135-50020-037-000 Retirement Totals: .00 .00 ** 4,412.00 Budgeted 4,412.00 Remaining 0 % Used Account: 135-50026-037-000 Medical Insurance .00 .00 _______________ Account: 135-50026-037-000 Medical Insurance Totals: .00 .00 ** 9,027.00 Budgeted 9,027.00 Remaining 0 % Used Account: 135-50027-037-000 Dental Insurance .00 .00 _______________ Account: 135-50027-037-000 Dental Insurance Totals: .00 .00 ** 549.00 Budgeted 549.00 Remaining 0 % Used Account: 135-50028-037-000 Vision Insurance .00 .00 _______________ Account: 135-50028-037-000 Vision Insurance Totals: .00 .00 ** 138.00 Budgeted 138.00 Remaining 0 % Used Account: 135-50029-037-000 Life Insurance & Other .00 .00 _______________ Account: 135-50029-037-000 Life Insurance & Other Totals: .00 .00 ** 228.00 Budgeted 228.00 Remaining 0 % Used Account: 135-50030-037-000 Social Security Taxes TCMUD No. 1 Page 114 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 68 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 37 Facilities Maintenance Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) .00 .00 _______________ Account: 135-50030-037-000 Social Security Taxes Totals: .00 .00 ** 1,954.00 Budgeted 1,954.00 Remaining 0 % Used Account: 135-50035-037-000 Medicare Taxes .00 .00 _______________ Account: 135-50035-037-000 Medicare Taxes Totals: .00 .00 ** 457.00 Budgeted 457.00 Remaining 0 % Used Account: 135-50040-037-000 Unemployment Taxes .00 .00 _______________ Account: 135-50040-037-000 Unemployment Taxes Totals: .00 .00 ** 189.00 Budgeted 189.00 Remaining 0 % Used Account: 135-50045-037-000 Workman's Compensation 861.00 .00 861.00 _______________ Account: 135-50045-037-000 Workman's Compensation Totals: .00 861.00 ** 861.00 Budgeted .00 Remaining 100 % Used Account: 135-50060-037-000 Pre-emp Physicals/Testing .00 .00 _______________ Account: 135-50060-037-000 Pre-emp Physicals/Testing Totals: .00 .00 ** 250.00 Budgeted 250.00 Remaining 0 % Used Account: 135-55100-037-000 Building Maint & Supplies 188 11/30/2011 November A/P NOVEMBER PCARDS 31.98 155.88 187.86 JPMORGAN CHASE BANK NA 31080 AP _______________ Account: 135-55100-037-000 Building Maint & Supplies Totals: 155.88 187.86 ** 5,000.00 Budgeted 4,812.14 Remaining 4 % Used Account: 135-55120-037-000 Cleaning Services 188 11/30/2011 November A/P November janitorial service 678.18 1,549.89 2,228.07 ABM JANITORIAL SERVICES, INC 31072 AP TCMUD No. 1 Page 115 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 69 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 37 Facilities Maintenance Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) _______________ Account: 135-55120-037-000 Cleaning Services Totals: 1,549.89 2,228.07 ** .00 Budgeted (2,228.07) Remaining 0 % Used Account: 135-60020-037-000 Electricity 925112 11/11/2011 Accounts Payable Electricity 10/13-11/11 427.45 976.26 1,403.71 Direct Energy Business Svcs AP _______________ Account: 135-60020-037-000 Electricity Totals: 976.26 1,403.71 ** 21,940.00 Budgeted 20,536.29 Remaining 6 % Used Account: 135-60025-037-000 Water 188 11/30/2011 November A/P November water 77.89 42.96 120.85 TROPHY CLUB MUD (WATER BILLS) 31091 AP _______________ Account: 135-60025-037-000 Water Totals: 42.96 120.85 ** 1,093.00 Budgeted 972.15 Remaining 11 % Used Account: 135-60030-037-000 Rent And/Or Usage 923435 11/01/2011 Accounts Payable Public Services Bldg Rent/Nov 1,098.51 1,098.51 2,197.02 Town of Trophy Club AP _______________ Account: 135-60030-037-000 Rent And/Or Usage Totals: 1,098.51 2,197.02 ** 13,182.00 Budgeted 10,984.98 Remaining 17 % Used Account: 135-60055-037-000 Insurance 28,589.50 .00 28,589.50 _______________ Account: 135-60055-037-000 Insurance Totals: .00 28,589.50 ** 32,635.00 Budgeted 4,045.50 Remaining 88 % Used Account: 135-60360-037-000 Furniture/Equipment < $5000 .00 .00 _______________ Account: 135-60360-037-000 Furniture/Equipment < $5000 Totals: .00 .00 ** 2,500.00 Budgeted 2,500.00 Remaining 0 % Used Account: 135-65095-037-000 Maintenance Supplies 924400 11/10/2011 Accounts Payable Office Supplies 168.22 6.30 174.52 Office Depot AP 188 11/30/2011 November A/P NOVEMBER PCARDS 17.21 191.73 JPMORGAN CHASE BANK NA 31080 AP TCMUD No. 1 Page 116 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 70 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 37 Facilities Maintenance Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) _______________ Account: 135-65095-037-000 Maintenance Supplies Totals: 23.51 191.73 ** 2,205.00 Budgeted 2,013.27 Remaining 9 % Used Account: 135-65097-037-000 Vending Machine Supplies 19.69 .00 19.69 _______________ Account: 135-65097-037-000 Vending Machine Supplies Totals: .00 19.69 ** 1,000.00 Budgeted 980.31 Remaining 2 % Used Department 37 Totals: ------------------------------------------------------------------------------------------------ 35,799.43 ** 129,132.00 Budgeted 93,332.57 Remaining 28 % Used TCMUD No. 1 Page 117 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 71 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 38 Utility Billing Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 135-50005-038-000 Salaries & Wages 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 6,575.76 3,284.34 9,860.10 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 3,284.16 13,144.26 PR _______________ Account: 135-50005-038-000 Salaries & Wages Totals: 6,568.50 13,144.26 ** 84,946.00 Budgeted 71,801.74 Remaining 15 % Used Account: 135-50010-038-000 Overtime 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 24.95 13.21 38.16 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 17.07 55.23 PR _______________ Account: 135-50010-038-000 Overtime Totals: 30.28 55.23 ** 2,000.00 Budgeted 1,944.77 Remaining 3 % Used Account: 135-50016-038-000 Longevity 924705 11/23/2011 Longevity 11/23/11 Longevity 11/23/11 220.00 220.00 PR _______________ Account: 135-50016-038-000 Longevity Totals: 220.00 220.00 ** 220.00 Budgeted .00 Remaining 100 % Used Account: 135-50020-038-000 Retirement 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 934.65 466.93 1,401.58 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 467.44 1,869.02 PR 924705 11/23/2011 Longevity 11/23/11 Longevity 11/23/11 31.16 1,900.18 PR _______________ Account: 135-50020-038-000 Retirement Totals: 965.53 1,900.18 ** 12,203.00 Budgeted 10,302.82 Remaining 16 % Used Account: 135-50026-038-000 Medical Insurance 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 924.36 462.18 1,386.54 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 462.18 1,848.72 PR _______________ Account: 135-50026-038-000 Medical Insurance Totals: 924.36 1,848.72 ** 12,321.00 Budgeted 10,472.28 Remaining 15 % Used Account: 135-50027-038-000 Dental Insurance 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 91.66 45.83 137.49 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 45.83 183.32 PR TCMUD No. 1 Page 118 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 72 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 38 Utility Billing Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) _______________ Account: 135-50027-038-000 Dental Insurance Totals: 91.66 183.32 ** 1,026.00 Budgeted 842.68 Remaining 18 % Used Account: 135-50028-038-000 Vision Insurance 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 21.63 10.81 32.44 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 10.81 43.25 PR _______________ Account: 135-50028-038-000 Vision Insurance Totals: 21.62 43.25 ** 260.00 Budgeted 216.75 Remaining 17 % Used Account: 135-50029-038-000 Life Insurance & Other .00 .00 _______________ Account: 135-50029-038-000 Life Insurance & Other Totals: .00 .00 ** 604.00 Budgeted 604.00 Remaining 0 % Used Account: 135-50030-038-000 Social Security Taxes 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 373.48 186.56 560.04 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 186.78 746.82 PR 924705 11/23/2011 Longevity 11/23/11 Longevity 11/23/11 13.64 760.46 PR _______________ Account: 135-50030-038-000 Social Security Taxes Totals: 386.98 760.46 ** 5,404.00 Budgeted 4,643.54 Remaining 14 % Used Account: 135-50035-038-000 Medicare Taxes 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 87.34 43.63 130.97 PR 924595 11/23/2011 Payroll 11/23/11 Payroll 11/23/11 43.68 174.65 PR 924705 11/23/2011 Longevity 11/23/11 Longevity 11/23/11 3.19 177.84 PR _______________ Account: 135-50035-038-000 Medicare Taxes Totals: 90.50 177.84 ** 1,264.00 Budgeted 1,086.16 Remaining 14 % Used Account: 135-50040-038-000 Unemployment Taxes 923826 11/11/2011 Payroll 11/11/11 Payroll 11/11/11 9.98 .04 10.02 PR _______________ Account: 135-50040-038-000 Unemployment Taxes Totals: .04 10.02 ** 473.00 Budgeted 462.98 Remaining 2 % Used TCMUD No. 1 Page 119 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 73 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 38 Utility Billing Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 135-50045-038-000 Workman's Compensation 235.00 .00 235.00 _______________ Account: 135-50045-038-000 Workman's Compensation Totals: .00 235.00 ** 211.00 Budgeted (24.00) Remaining 111 % Used Account: 135-55070-038-000 Independent Labor .00 .00 _______________ Account: 135-55070-038-000 Independent Labor Totals: .00 .00 ** 800.00 Budgeted 800.00 Remaining 0 % Used Account: 135-55205-038-000 Utility Billing Contract 917.72 .00 917.72 _______________ Account: 135-55205-038-000 Utility Billing Contract Totals: .00 917.72 ** 11,000.00 Budgeted 10,082.28 Remaining 8 % Used Account: 135-60005-038-000 Telephone 20.91 .00 20.91 _______________ Account: 135-60005-038-000 Telephone Totals: .00 20.91 ** 100.00 Budgeted 79.09 Remaining 21 % Used Account: 135-60010-038-000 Communications/Pagers/Mobiles 924388 11/01/2011 Accounts Payable Cell phones 31.88 31.88 Verizon Wireless AP 188 11/30/2011 November A/P November cell phones 36.59 68.47 WEST PUBLISHING CORPORATION 31094 AP _______________ Account: 135-60010-038-000 Communications/Pagers/Mobiles Totals: 68.47 68.47 ** 472.00 Budgeted 403.53 Remaining 15 % Used Account: 135-60035-038-000 Postage 1,403.12 .00 1,403.12 _______________ Account: 135-60035-038-000 Postage Totals: .00 1,403.12 ** 18,000.00 Budgeted 16,596.88 Remaining 8 % Used Account: 135-60040-038-000 Service Charges & Fees TCMUD No. 1 Page 120 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 74 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 38 Utility Billing Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) 183 11/04/2011 Credit Card Fees World Pay 3,166.50 1,034.71 4,201.21 GL 183 11/04/2011 Credit Card Fees World Pay 2,195.88 6,397.09 GL 183 11/04/2011 Credit Card Fees World Pay 9.99 6,407.08 GL 183 11/04/2011 Credit Card Fees Authorize.net 42.91 6,449.99 GL 183 11/04/2011 Credit Card Fees Authorize.net 10.02 6,460.01 GL _______________ Account: 135-60040-038-000 Service Charges & Fees Totals: 3,293.51 6,460.01 ** 18,000.00 Budgeted 11,539.99 Remaining 36 % Used Account: 135-60070-038-000 Dues & Memberships .00 .00 _______________ Account: 135-60070-038-000 Dues & Memberships Totals: .00 .00 ** 71.00 Budgeted 71.00 Remaining 0 % Used Account: 135-60080-038-000 Schools & Training .00 .00 _______________ Account: 135-60080-038-000 Schools & Training Totals: .00 .00 ** 800.00 Budgeted 800.00 Remaining 0 % Used Account: 135-60100-038-000 Travel & per diem .00 .00 _______________ Account: 135-60100-038-000 Travel & per diem Totals: .00 .00 ** 605.00 Budgeted 605.00 Remaining 0 % Used Account: 135-60130-038-000 Reg Assessment Fee (5%) .00 .00 _______________ Account: 135-60130-038-000 Reg Assessment Fee (5%) Totals: .00 .00 ** 22,500.00 Budgeted 22,500.00 Remaining 0 % Used Account: 135-60245-038-000 Miscellaneous Expenses .00 .00 _______________ Account: 135-60245-038-000 Miscellaneous Expenses Totals: .00 .00 ** 200.00 Budgeted 200.00 Remaining 0 % Used TCMUD No. 1 Page 121 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 75 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 38 Utility Billing Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 135-65085-038-000 Office Supplies 924396 11/04/2011 Accounts Payable Office Supplies 39.94 13.80 53.74 Office Depot AP _______________ Account: 135-65085-038-000 Office Supplies Totals: 13.80 53.74 ** 700.00 Budgeted 646.26 Remaining 8 % Used Account: 135-65105-038-000 Printing .00 .00 _______________ Account: 135-65105-038-000 Printing Totals: .00 .00 ** 3,250.00 Budgeted 3,250.00 Remaining 0 % Used Department 38 Totals: ------------------------------------------------------------------------------------------------ 27,502.25 ** 197,430.00 Budgeted 169,927.75 Remaining 14 % Used TCMUD No. 1 Page 122 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 76 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 135 MUD 1 General Fund Department: 39 Non Departmental Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 135-55045-039-000 Legal 924645 11/01/2011 Accounts Payable October legal 2,803.25 2,803.25 Whitaker, Chalk, Swindle LLP AP 925118 11/30/2011 Accounts Payable November Legal 3,786.75 6,590.00 The Liston Law Firm, P.C. AP _______________ Account: 135-55045-039-000 Legal Totals: 6,590.00 6,590.00 ** 55,000.00 Budgeted 48,410.00 Remaining 12 % Used Account: 135-55055-039-000 Auditing 5,050.00 .00 5,050.00 _______________ Account: 135-55055-039-000 Auditing Totals: .00 5,050.00 ** 20,200.00 Budgeted 15,150.00 Remaining 25 % Used Account: 135-55060-039-000 Appraisal 924390 11/01/2011 Accounts Payable 4TH QTR DCAD budget 3,060.83 2,931.93 5,992.76 Denton Central Appraisal Distr AP 188 11/30/2011 November A/P 1st Quarter budget allocation 2,540.89 8,533.65 DENTON CENTRAL APPRAISAL DISTR 31078 AP _______________ Account: 135-55060-039-000 Appraisal Totals: 5,472.82 8,533.65 ** 20,000.00 Budgeted 11,466.35 Remaining 43 % Used Account: 135-55065-039-000 Tax Admin Fees 924615 11/18/2011 Accounts Payable Tax statements 2,451.63 2,451.63 Denton County Tax Office AP _______________ Account: 135-55065-039-000 Tax Admin Fees Totals: 2,451.63 2,451.63 ** 3,629.00 Budgeted 1,177.37 Remaining 68 % Used Department 39 Totals: ------------------------------------------------------------------------------------------------ 22,625.28 ** 98,829.00 Budgeted 76,203.72 Remaining 23 % Used Fund 135 Totals: ------------------------------------------------------------------------------------------------------ 216,809.06 .00 Budgeted (216,809.06) Remaining 0 % Used TCMUD No. 1 Page 123 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 77 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 522 2010 GO/Fire Station Department: Revenues Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 522-49025-000-000 Auction Sales (22,570.00) .00 (22,570.00) _______________ Account: 522-49025-000-000 Auction Sales Totals: .00 (22,570.00) ** .00 Budgeted 22,570.00 Remaining 0 % Used Department Totals: ------------------------------------------------------------------------------------------------ (22,570.00) ** .00 Budgeted 22,570.00 Remaining 0 % Used TCMUD No. 1 Page 124 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 78 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 522 2010 GO/Fire Station Department: 65 Construction Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 522-60031-065-000 Temporary Housing & Storage 41.58 .00 41.58 _______________ Account: 522-60031-065-000 Temporary Housing & Storage Totals: .00 41.58 ** .00 Budgeted (41.58) Remaining 0 % Used Department 65 Totals: ------------------------------------------------------------------------------------------------ 41.58 ** .00 Budgeted (41.58) Remaining 0 % Used Fund 522 Totals: ------------------------------------------------------------------------------------------------------ (22,528.42) .00 Budgeted 22,528.42 Remaining 0 % Used TCMUD No. 1 Page 125 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 79 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 533 MUD 1 I&S CONSOLIDATED Department: Revenues Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 533-40000-000-000 Property Taxes 147 11/01/2011 Property Taxes PROPERTY TAXES (2,063.74) (2,569.48) (4,633.22) GL 148 11/02/2011 Property Taxes PROPERTY TAXES (526.62) (5,159.84) GL 149 11/03/2011 Property Taxes PROPERTY TAXES (908.05) (6,067.89) GL 150 11/04/2011 Property Taxes PROPERTY TAXES (1,316.61) (7,384.50) GL 151 11/07/2011 Property Taxes PROPERTY TAXES (.62) (7,385.12) GL 152 11/08/2011 PROPERTY TAXES (1,149.57) (8,534.69) GL 81 11/09/2011 PROPERTY TAXES (1,318.05) (9,852.74) GL 154 11/10/2011 PROPERTY TAXES (773.65) (10,626.39) GL 155 11/14/2011 PROPERTY TAXES PROPERTY TAXES (1,406.03) (12,032.42) GL 156 11/15/2011 PROPERTY TAXES (2,648.75) (14,681.17) GL 94 11/16/2011 PROPERTY TAXES (733.38) (15,414.55) GL 157 11/17/2011 PROPERTY TAXES (546.47) (15,961.02) GL 158 11/18/2011 PROPERTY TAXES (1,723.16) (17,684.18) GL 159 11/21/2011 PROPERTY TAXES (10,868.14) (28,552.32) GL 160 11/22/2011 PROPERTY TAXES (993.65) (29,545.97) GL 161 11/23/2011 PROPERTY TAXES (909.43) (30,455.40) GL 162 11/28/2011 PROPERTY TAXES (100.88) (30,556.28) GL 163 11/29/2011 PROPERTY TAXES (2,069.61) (32,625.89) GL 164 11/30/2011 PROPERTY TAXES (1,041.52) (33,667.41) GL _______________ Account: 533-40000-000-000 Property Taxes Totals: (31,603.67) (33,667.41) ** (550,663.00) Budgeted (516,995.59) Remaining 6 % Used Account: 533-40002-000-000 Property Taxes/Delinquent 151 11/07/2011 Property Taxes PROPERTY TAXES 1,777.51 (27.45) 1,750.06 GL 152 11/08/2011 PROPERTY TAXES (72.81) 1,677.25 GL 154 11/10/2011 PROPERTY TAXES 1.85 1,679.10 GL 158 11/18/2011 PROPERTY TAXES 19.24 1,698.34 GL 161 11/23/2011 PROPERTY TAXES (25.20) 1,673.14 GL 163 11/29/2011 PROPERTY TAXES (114.69) 1,558.45 GL 164 11/30/2011 PROPERTY TAXES (58.64) 1,499.81 GL _______________ Account: 533-40002-000-000 Property Taxes/Delinquent Totals: (277.70) 1,499.81 ** .00 Budgeted (1,499.81) Remaining 0 % Used Account: 533-40015-000-000 Property Taxes/P & I 151 11/07/2011 Property Taxes PROPERTY TAXES (185.10) (2.75) (187.85) GL 152 11/08/2011 PROPERTY TAXES (3.02) (190.87) GL 161 11/23/2011 PROPERTY TAXES (5.54) (196.41) GL 163 11/29/2011 PROPERTY TAXES (25.23) (221.64) GL TCMUD No. 1 Page 126 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 80 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 533 MUD 1 I&S CONSOLIDATED Department: Revenues Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) 164 11/30/2011 PROPERTY TAXES (185.10) (1.57) (223.21) GL _______________ Account: 533-40015-000-000 Property Taxes/P & I Totals: (38.11) (223.21) ** (5,017.00) Budgeted (4,793.79) Remaining 4 % Used Account: 533-48005-000-000 Utility Fees (6,120.00) .00 (6,120.00) _______________ Account: 533-48005-000-000 Utility Fees Totals: .00 (6,120.00) ** (6,120.00) Budgeted .00 Remaining 100 % Used Account: 533-49010-000-000 Interest Income 175 11/30/2011 NOV BANK INTEREST (7.69) (10.70) (18.39) GL _______________ Account: 533-49010-000-000 Interest Income Totals: (10.70) (18.39) ** (500.00) Budgeted (481.61) Remaining 4 % Used Account: 533-49015-000-000 Lease/Rental Income .00 .00 _______________ Account: 533-49015-000-000 Lease/Rental Income Totals: .00 .00 ** (308,000.00) Budgeted (308,000.00) Remaining 0 % Used Department Totals: ------------------------------------------------------------------------------------------------ (38,529.20) ** (870,300.00) Budgeted (831,770.80) Remaining 4 % Used TCMUD No. 1 Page 127 of 291 Meeting Date: December 20, 2011 . glpdatb2 rgonzale Trophy Club Entities Page 81 10:41 12/16/11 Detailed Accounting Trial Balance Fund: 533 MUD 1 I&S CONSOLIDATED Department: 51 Administration Program: Period Ending: 11/2011 JE JE JE JE Detail Beginning Transaction Transaction Vendor_Name Check Source Number Date Description Description/Comment Balance Detail Detail Number (SUBTOTAL) Account: 533-70005-051-000 Paying Agent Fee .00 .00 _______________ Account: 533-70005-051-000 Paying Agent Fee Totals: .00 .00 ** 4,000.00 Budgeted 4,000.00 Remaining 0 % Used Account: 533-70025-051-000 Bond Interest Expense .00 .00 _______________ Account: 533-70025-051-000 Bond Interest Expense Totals: .00 .00 ** 301,300.00 Budgeted 301,300.00 Remaining 0 % Used Account: 533-70035-051-000 Bond Principal Payment .00 .00 _______________ Account: 533-70035-051-000 Bond Principal Payment Totals: .00 .00 ** 565,000.00 Budgeted 565,000.00 Remaining 0 % Used Department 51 Totals: ------------------------------------------------------------------------------------------------ .00 ** 870,300.00 Budgeted 870,300.00 Remaining 0 % Used Fund 533 Totals: ------------------------------------------------------------------------------------------------------ (38,529.20) .00 Budgeted 38,529.20 Remaining 0 % Used Grand Totals: --------------------------------------------------------------------------------------------------------- 233,381.89 **** .00 Budgeted (233,381.89) Remaining 0 % Used ******* End of Report ********* TCMUD No. 1 Page 128 of 291 Meeting Date: December 20, 2011 BUDGET VARIANCE REPORT FUND:122 - Fire O&M FINANCIALS MONTH:November 2011 REVENUE VARIANCE:9% EXPENSE VARIANCE:25% NOTE: ACCOUNT DESCRIPTION TOTAL BUDGET CURRENT MONTH YTD TOTAL YTD %VARIANCE EXPLANATION FIRE REVENUE FIRE EXPENSES 122-50011-045 DPS Holiday Pay 12,133$ 13,773$ 13,773$ 114%Paid annually in November 122-50016-045 Longevity 3,647$ 3,714$ 3,714$ 102%Paid annually in November 122-50045-045 Workman's Comp 8,793$ -$ 8,310$ 95%Premium paid at beginning of year 122-60025-045 Water 3,289$ 184$ 1,106$ 34%Irrigation meter was charged sewer.UB to credit. 122-60070-045 Dues & Memberships 8,560$ 250$ 5,426$ 63%Dues paid at beginning of year 122-60055-045 Insurance 20,974$ -$ 8,078$ 39%Premium paid at beginning of year 122-60096-045 Emergency Management 1,000$ 1,000$ 1,000$ 100%Paid annually at beginning of year 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 $1000 will be addressed. TCMUD No. 1 Page 129 of 291 Meeting Date: December 20, 2011 BUDGET VARIANCE REPORT FUND:135 - MUD 1 O&M FINANCIALS MONTH:November 2011 REVENUE VARIANCE:9% EXPENSE VARIANCE:25% NOTE: ACCOUNT DESCRIPTION TOTAL BUDGET CURRENT MONTH YTD TOTAL YTD %VARIANCE EXPLANATION REVENUE WATER 135-50016-010 Longevity 2,620$ 2,620$ 2,620$ 100%Paid annually in November 135-50045-010 Workman's Comp 5,581$ -$ 5,581$ 100%Premium paid at beginning of year 135-55090-010 Vehicle Maintenance 3,380$ 1,684$ 1,797$ 53%Replace Water pump and tires for 2004 Chevrolet 135-55100-010 Building Maintenance 750$ -$ 366$ 49%Fire Extinquisher annual maint 135-60135-010 Annual permit fee 6,600$ 7,966$ 7,966$ 121%Increase in annual fee 135-65050-010 Meter Expense 85,000$ 51,329$ 55,736$ 66%Replace meters. 135-65105-010 Printing 150$ -$ 59$ 39%Business cards/Womack 135-69005-010 Capital Expenses 888,432$ 392,150$ 392,747$ 44%Meters and Ground Storage expansion 135-69035-010 Vehicles 27,000$ 27,000$ 29,439$ 109%New Water truck 135-69281-010 Capital Repair-Ground Storage 124,771$ 69,788$ 69,788$ 56%Annual Preventative Maintenance WASTEWATER 135-50016-020 Longevity 3,976$ 2,588$ 3,975$ 100%Paid annually in November 135-50030-020 Social Security Taxes 8,597$ 766$ 2,676$ 31%Severence check 135-50035-020 Medicare Taxes 2,011$ 179$ 626$ 31%Severence check 135-50045-020 Workman's Comp 2,685$ -$ 2,685$ 100%Premium paid at beginning of year 135-60066-020 Publications/Books/Subscription 500$ -$ 438$ 88%Items purchased at beginning of year 135-60135-020 Annual Permit Fee 7,500$ 7,433$ 7,433$ 99%Annual Permit 135-60105-020 Rent/Lease Equipment 200$ 901$ 901$ 451%Rent Trash pump 135-60135-020 Annual permit fee 7,500$ 7,433$ 99%Paid annually COLLECTIONS 135-50016-021 Longevity 3,548$ 3,548$ 3,548$ 100%Paid annually in November 135-50045-021 Workman's Comp 3,056$ 3,056$ 3,056$ 100%Premium paid at beginning of year 135-69005-021 Capital Expenses 15,000$ 31,991$ 31,991$ 213%Prior year loan payment-Gapvax.Bank did not bill in their system.Budget to be amended. BOARD OF DIRECTORS 135-50045-026 Workman's Comp 120$ -$ 120$ 100%Premium paid at beginning of year 135-60070-026 Dues & Memberships 2,100$ 585$ 685$ 33%Dues paid at first of year. AWBD MANAGER'S OFFICE 135-50010-027 Overtime 1,000$ 420$ 621$ 62%Interim Overtime 135-50045-027 Workman's Comp 580$ -$ 580$ 100%Premium paid at beginning of year 135-50045-027 Workman's Comp 580$ -$ 580$ 100%Premium paid at beginning of year 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. TCMUD No. 1 Page 130 of 291 Meeting Date: December 20, 2011 BUDGET VARIANCE REPORT FUND:135 - MUD 1 O&M FINANCIALS MONTH:November 2011 REVENUE VARIANCE:9% EXPENSE VARIANCE:25% NOTE: ACCOUNT DESCRIPTION TOTAL BUDGET CURRENT MONTH YTD TOTAL YTD %VARIANCE EXPLANATION 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 $1000 will be addressed. FINANCE 135-50010-029 Overtime 1,000$ 409$ 596$ 60%Interim overtime 135-50016-029 Longevity 1,823$ 1,823$ 1,823$ 100%Paid annually in November 135-50045-029 Workman's Comp 235$ -$ 211$ 90%Premium paid at beginning of year UTILITY BILLING 135-50016-038 Longevity 220$ 220$ 220$ 100%Paid annually in November 135-50045-038 Workman's Comp 211$ 211$ 235$ 111%Premium paid at beginning of year 135-60040-038 Service Charges & fees 18,000$ 3,294$ 6,460$ 36%Credit card fees. INFORMATION SERVICES FACILITIES MANAGEMENT 135-50045-037 Workman's Comp 861$ -$ 861$ 100%Premium paid at beginning of year 135-60055-037 Insurance 32,635$ -$ 28,590$ 88%Premium paid at beginning of year NON-DEPARTMENTAL 135-55055-039 Auditing 20,200$ -$ 5,050$ 25%Interim Audit billing 135-55060-039 Appraisal 20,000$ -$ 8,534$ 43%Prior year payment expensed this year. Will remove for audit entry. 135-55065-039 Tax Admin Fees 3,629$ 2,452$ 2,452$ 68%Mailing of tax statements TCMUD No. 1 Page 131 of 291 Meeting Date: December 20, 2011 100 Municipal Drive Trophy Club, Texas 76262Trophy Club Entities Legislation Details (With Text) File #: Version:12011-216-M1 Name: Status:Type:M1 Agenda Item Draft File created:In control:12/13/2011 Trophy Club Municipal Utility District No. 1 On agenda:Final action:12/20/2011 Title:Discuss and take appropriate action regarding the resolution of the Board of Directors of the Trophy Club Municipal Utility District No. 1, authorizing the issuance and sale of Trophy Club Municipal Utility District No. 1, Revenue Note, Series 2012; providing for the security for and payment of said note; prescribing the form of said note; awarding the sale thereof; authorizing a paying agent/registrar agreement and an investment and commitment letter; and enacting other provisions relating to the subject. Attachments:Note Resolution.pdf TrophyClubMUD#1-note2012-level-debt.pdf TrophyClubMUD#1-note2012-level-principal.pdf Action ByDate Action ResultVer. Title Discuss and take appropriate action regarding the resolution of the Board of Directors of the Trophy Club Municipal Utility District No. 1, authorizing the issuance and sale of Trophy Club Municipal Utility District No. 1, Revenue Note, Series 2012; providing for the security for and payment of said note; prescribing the form of said note; awarding the sale thereof; authorizing a paying agent/registrar agreement and an investment and commitment letter; and enacting other provisions relating to the subject. TCMUD No. 1 Page 132 of 291 Meeting Date: December 20, 2011 TROPHY CLUB MUD No. 1 RESOLUTION NO. 2011-1220-A A RESOLUTION OF THE BOARD OF DIRECTORS OF THE TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1 AUTHORIZING THE ISSUANCE AND SALE OF TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1, REVENUE NOTE, SERIES 2012; PROVIDING FOR THE SECURITY FOR AND PAYMENT OF SAID NOTE; PRESCRIBING THE FORM OF SAID NOTE; AWARDING THE SALE THEREOF; AUTHORIZING A PAYING AGENT/REGISTRAR AGREEMENT AND AN INVESTMENT AND COMMITMENT LETTER; AND ENACTING OTHER PROVISIONS RELATING TO THE SUBJECT WHEREAS, the Board of Directors (the "Board of Directors") of Trophy Club Municipal Utility District No. 1 (the "District") hereby finds and determines that it is necessary, useful and appropriate for the District's public purposes to authorize and provide for the issuance and sale of a revenue note of the District for the purposes hereinafter provided, as authorized by Tex. Water Code Ann. '49.153, as amended; and WHEREAS, it is officially found, determined and declared that the meeting at which this Resolution has been adopted was open to the public and public notice of the date, hour, place and subject of said meeting, including this Resolution, was given, all as required by the applicable provisions of Tex. Gov't Code Ann. ch. 551 and Tex. Water Code Ann. ''49.063 and 49.064; Now, Therefore BE IT RESOLVED BY THE BOARD OF DIRECTORS OF TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1: ARTICLE I DEFINITIONS AND OTHER PRELIMINARY MATTERS Section 1.01. Definitions. Unless otherwise expressly provided or unless the context clearly requires otherwise, in this Resolution the following terms shall have the meanings specified below: "Additional Parity Obligations" means the additional parity obligations permitted to be issued by Section 9.01 of this Resolution. "Closing Date" means the date of the initial delivery of and payment for the Note. TCMUD No. 1 Page 133 of 291 Meeting Date: December 20, 2011 "Code" means the Internal Revenue Code of 1986, as amended, including applicable regulations, published rulings and court decisions relating thereto. "Construction Fund" means the construction fund established by Section 8.01(a) of this Resolution. "Defeasance Securities" means any securities and obligations now or hereafter authorized by State law that are eligible to refund, retire or otherwise discharge obligations such as the Note. "Designated Payment/Transfer Office" means (i) with respect to the initial Paying Agent/Registrar named herein, its designated office in Southlake, Texas, and (ii) with respect to any successor Paying Agent/Registrar, the office of such successor designated and located as may be agreed upon by the District and such successor. "Event of Default" means any Event of Default as defined in Section 11.01 of this Resolution. "Initial Note" means the Note described in Section 3.04(d). "Interest and Sinking Fund" means the interest and sinking fund established by Section 8.01(a) of this Resolution. "Interest Payment Date" means the date or dates upon which interest on the Notes is scheduled to be paid until the maturity of the Notes, such dates being March 1 and September 1 of each year commencing March 1, 2012. "Lender" means the person, firm or entity initially purchasing the Note from the District and which is designated in Section 7.01 of this Resolution. "Net Revenues" and "Net Revenues of the System" mean all of the revenues of every kind and nature received through the operation of the System, less the expenses of operation and maintenance paid thereof, including salaries, labor, materials, repairs and extensions necessary to render efficient service; provided, however, that only such repairs and extensions as in the judgment of the Board, reasonably and fairly exercised, are necessary to keep the System in operation and render adequate service to the District and the inhabitants thereof, or such as might be necessary to meet some physical accident or condition which would otherwise impair the security of the Note or the Additional Parity Obligations shall be deducted in determining "Net Revenues". "Note" means the District's revenue note entitled "Trophy Club Municipal Utility District No.1 Revenue Note, Series 2012" authorized to be issued by Section 3.01 of this Resolution. "Resolution" means this Resolution. "Owner" means the person who is the registered owner of the Note, as shown in the Register. TCMUD No. 1 Page 134 of 291 Meeting Date: December 20, 2011 "Parity Revenue Obligations" means the Note and Additional Parity Obligations. "Paying Agent/Registrar" means First Financial Bank, National Association, any successor thereto or an entity which is appointed as and assumes the duties of paying agent/registrar as provided in this Resolution. "Record Date" means the 15th day of the month next preceding an Interest Payment Date. "Register" means the Register specified in Section 3.06(a) of this Resolution. "Special Payment Date" means the Special Payment Date prescribed by Section 3.03(b) of this Resolution. "Special Record Date" means the new record date for interest payment established in the event of a nonpayment of interest on a scheduled payment date, and for 30 days thereafter, as described in Section 3.03(b) of this Resolution. "System" means the District's water and sewer system, including all present and future extensions, additions, replacements and improvements thereto. "Unclaimed Payments" means money deposited with the Paying Agent/Registrar for the payment of principal, prepayment premium, if any, or interest on the Note as the same become due and payable or money set aside for the payment of the Note duly called for prepayment prior to maturity, and remaining unclaimed for 90 days after the applicable payment or prepayment date. Section 1.02. Other Definitions. The terms "Board of Directors" and "District" shall have the meaning assigned in the preamble to this Resolution. Section 1.03. Findings. The declarations, determinations and findings declared, made and found in the preamble to this Resolution are hereby adopted, restated and made a part of the operative provisions hereof. TCMUD No. 1 Page 135 of 291 Meeting Date: December 20, 2011 Section 1.04. Table of Contents, Titles and Headings. The table of contents, titles and headings of the Articles and Sections of this Resolution have been inserted for convenience of reference only and are not to be considered a part hereof and shall not in any way modify or restrict any of the terms or provisions hereof and shall never be considered or given any effect in construing this Resolution or any provision hereof or in ascertaining intent, if any question of intent should arise. Section 1.05. Interpretation. (a) Unless the context requires otherwise, words of the masculine gender shall be construed to include correlative words of the feminine and neuter genders and vice versa, and words of the singular number shall be construed to include correlative words of the plural number and vice versa. (b) This Resolution and all the terms and provisions hereof shall be liberally construed to effectuate the purposes set forth herein to sustain the validity of this Resolution. ARTICLE II SECURITY FOR THE NOTE Section 2.01. Pledge of Revenues for Payment of the Note. The Parity Revenue Obligations, including the Note, and the interest thereon, and any and all other amounts payable thereunder, are and shall be secured by and payable from a first lien on and pledge of the Net Revenues of the System (with the exception of those in excess of the amounts required to establish and maintain the Interest and Sinking Fund hereinafter provided); and the revenues herein pledged are further pledged to the establishment and maintenance of the Interest and Sinking Fund hereinafter provided. Section 2.02. Special Obligations. The Note is a special obligation of the District secured by and payable from a first lien on and pledge of the Net Revenues of the System, as provided in this Resolution, and is not a charge on the property of the District or on taxes levied by the District. No part of the obligation evidenced by the Note, whether principal, interest or other obligation, shall ever be paid from taxes levied or collected by the District. Section 2.03. Perfection of Security Interest. Chapter 1208, Texas Government Code applies to the issuance of the Note and the pledge of the Net Revenues granted by the District under Section 2.01of this Resolution, and such pledge, TCMUD No. 1 Page 136 of 291 Meeting Date: December 20, 2011 therefore, is valid, effective, and perfected. If Texas law is amended at any time while the Note is outstanding and unpaid such that the pledge of the revenues granted by the District under Section 2.01 of this Resolution is to be subject to the filing requirements of Chapter 9, Texas Business and Commerce Code, then in order to preserve to the registered owners of the Note the perfection of the security interest in said pledge, the District agrees to take such measures as it determines are reasonable and necessary under Texas law to comply with the applicable provisions of Chapter 9, Business and Commerce Code and enable a filing to perfect the security interest in said pledge to occur. ARTICLE III AUTHORIZATION; GENERAL TERMS AND PROVISIONS REGARDING THE NOTE Section 3.01. Authorization. (a) The District's revenue note to be designated "Trophy Club Municipal Utility District No.1 Revenue Note, Series 2012," is hereby authorized to be issued and delivered in accordance with the Constitution and laws of the State of Texas in the total principal amount of $1,100,000 for the purpose of providing funds for water and wastewater system improvements, particularly, raising the height of the District's elevated water storage tower, and the payment of professional services in connection therewith including legal, fiscal and engineering fees and the costs of issuing the Note. Section 3.02. Date, Denomination, Maturities, Numbers and Interest. (a) The Note shall be in fully registered form, without coupons, and initially there shall be issued, sold, and delivered hereunder one fully registered Note, in the denomination and principal amount of $1,100,000, numbered from R-1 with any Note issued in replacement thereof being in the denomination and principal amount hereafter stated and numbered consecutively from R-2 upward, payable to the respective initial registered owners thereof (as designated in Section 7.01(a) hereof), or to the registered assignee or assignees of the Note, and the unpaid principal of the Note shall have a final maturity date of September 1, 2014, but shall be payable in installments on September 1 in each of the years and in the amounts, respectively, as set forth in the following schedule: Year Principal Installment 2012 $367,000 2013 $366,000 2014 $367,000 TCMUD No. 1 Page 137 of 291 Meeting Date: December 20, 2011 (b) The Note shall bear interest on the unpaid balance of the principal amount thereof in the manner and from the date specified in the FORM OF NOTE set forth in this Resolution to the scheduled due date of the principal installments of the Note at the rate of 2.87% per annum. Interest shall accrue and be payable to the Owner in the manner provided and on the dates stated in the FORM OF NOTE set forth in this Resolution. Section 3.03. Medium, Method and Place of Payment. (a) The principal of, premium, if any, and interest on the Note shall be paid in lawful money of the United States of America as provided in this Section. (b) Interest on the Note shall be payable to the Owners whose names appear in the Register at the close of business on the Record Date; provided, however, that in the event of nonpayment of interest on a scheduled Interest Payment Date, and for 30 days thereafter, a new record date for such interest payment (a "Special Record Date") will be established by the Paying Agent/Registrar if and when funds for the payment of such interest have been received from the District. Notice of the Special Record Date and of the scheduled payment date of the past due interest (the "Special Payment Date", which shall be at least 15 days after the Special Record Date) shall be sent at least five business days prior to the Special Record Date by United States mail, first class postage prepaid, to the address of each Owner of a Note appearing on the books of the Paying Agent/Registrar at the close of business on the last business day next preceding the date of mailing of such notice. (c) Interest on the Note shall be paid by check (dated as of the Interest Payment Date) and sent by the Paying Agent/Registrar to the person entitled to such payment by United States mail, first class postage prepaid, to the address of such person as it appears in the Register or by such other customary banking arrangements acceptable to the Paying Agent/Registrar and the person to whom interest is to be paid; provided, however, that such person shall bear all risk and expenses of such other customary banking arrangements. (d) The principal of the Note shall be paid to the person in whose name such Note is registered on the due date thereof (whether at the maturity date or the date of prior prepayment thereof) upon presentation and surrender of such Note at the Designated Payment/Transfer Office. (e) If a date for the payment of the principal of or interest on the Note is a Saturday, Sunday, legal holiday, or a day on which banking institutions in the city in which the Designated Payment/Transfer Office is located are authorized by law or executive order to close, then the date for such payment shall be the next succeeding day which is not a Saturday, Sunday, legal holiday, or day on which such banking institutions are required or authorized to close; and payment on such date shall have the same force and effect as if made on the original date payment was due. (f) Subject to Title 6, Texas Property Code, as amended, Unclaimed Payments remaining unclaimed for three years after the applicable payment or prepayment date shall be paid by the TCMUD No. 1 Page 138 of 291 Meeting Date: December 20, 2011 Paying Agent/Registrar to the District, to be used for any lawful purpose. Thereafter, neither the District, the Paying Agent/Registrar, nor any other person shall be liable or responsible to any Owners of such Note for any further payment of such unclaimed moneys or on account of any such Note, subject to any applicable escheat, abandoned property, or similar law. Section 3.04. Execution and Initial Registration. (a) The Note shall be executed on behalf of the District by the President and Secretary- Treasurer of the Board of Directors of the District, by their manual or facsimile signatures, and the official seal of the District shall be impressed or placed in facsimile thereon. Such facsimile signatures on the Note shall have the same effect as if the Note had been signed manually and in person by each of said officers, and such facsimile seal on the Note shall have the same effect as if the official seal of the District had been manually impressed upon each of the Note. (b) In the event that any officer of the District whose manual or facsimile signature appears on the Note ceases to be such officer before the authentication of such Note or before the delivery thereof, such manual or facsimile signature nevertheless shall be valid and sufficient for all purposes as if such officer had remained in such office. (c) Except as provided below, no Note shall be valid or obligatory for any purpose or be entitled to any security or benefit of this Resolution unless and until there appears thereon the Certificate of Paying Agent/Registrar substantially in the form provided in this Resolution, duly authenticated by manual execution by an officer or duly authorized representative of the Paying Agent/Registrar. It shall not be required that the same authorized representative of the Paying Agent/Registrar sign the Certificate of Paying Agent/Registrar on the Note. In lieu of the executed Certificate of Paying Agent/Registrar described above, the Initial Note delivered on the Closing Date shall have attached thereto the Comptroller's Registration Certificate substantially in the form provided in this Resolution, manually executed by the Comptroller of Public Accounts of the State of Texas or by his duly authorized agent, which certificate shall be evidence that the Initial Note has been duly approved by the Attorney General of the State of Texas and that it is a valid and binding obligation of the City, and has been registered by the Comptroller of Public Accounts of the State of Texas. (d) On the Closing Date, one Initial Note representing the entire principal amount of the Note, payable in stated installments to the Lender or its designee, executed by manual or facsimile signature of the President and Secretary-Treasurer of the Board of Directors of the District, approved by the Attorney General of Texas, and registered and manually signed by the Comptroller of Public Accounts of the State of Texas, will be delivered to the Lender or its designee. Section 3.05. Ownership. (a) The District, the Paying Agent/Registrar and any other person may treat the person in whose name the Note is registered as the absolute owner of such Note for the purpose of making and receiving payment of the principal thereof and premium, if any, thereon, for the further purpose of TCMUD No. 1 Page 139 of 291 Meeting Date: December 20, 2011 making and receiving payment of the interest thereon (subject to the provisions herein that interest is to be paid to the person in whose name the Note is registered on the Record Date or Special Record Date, as applicable), and for all other purposes, whether or not such Note is overdue, and neither the District nor the Paying Agent/Registrar shall be bound by any notice or knowledge to the contrary. (b) All payments made to the person deemed to be the Owner of any Note in accordance with this Section shall be valid and effectual and shall discharge the liability of the District and the Paying Agent/Registrar upon such Note to the extent of the sums paid. Section 3.06. Registration, Transfer and Exchange. (a) So long as any Note remains outstanding, the District shall cause the Paying Agent/Registrar to keep at the Designated Payment/Transfer Office a register (the "Register") in which, subject to such reasonable regulations as it may prescribe, the Paying Agent/Registrar shall provide for the registration and transfer of the Note in accordance with this Resolution. (b) Registration of any Note may be transferred in the Register only upon the presentation and surrender thereof at the Designated Payment/Transfer Office for transfer of registration and cancellation, together with proper written instruments of assignment, in form and with guarantee of signatures satisfactory to the Paying Agent/Registrar, evidencing assignment of the Note, and the right of such assignee or assignees thereof to have the Note registered in the name of such assignee or assignees. No transfer of any Note shall be effective until entered in the Register. Upon assignment and transfer of any Note, a new Note will be issued by the Paying Agent/Registrar in conversion and exchange for such transferred and assigned Note. To the extent possible the Paying Agent/Registrar will issue such new Note in not more than three business days after receipt of the Note to be transferred in proper form and with proper instructions directing such transfer. (c) Any Note may be converted and exchanged only upon the presentation and surrender thereof at the Designated Payment/Transfer Office, together with a written request therefor duly executed by the registered owner or assignee or assignees thereof, or its or their duly authorized attorneys or representatives, with guarantees of signatures satisfactory to the Paying Agent/Registrar, for a Note of the same maturity and interest rate and in an aggregate principal amount equal to the unpaid principal amount of the Note presented for exchange. To the extent possible, a new Note shall be delivered by the Paying Agent/Registrar to the Owner of the Note in not more than three business days after receipt of the Note to be exchanged in proper form and with proper instructions directing such exchange. (d) Each Note issued in exchange for any Note assigned, transferred or converted shall have the same principal maturity date and bear interest at the same rate as the Note for which it is being exchanged. Each substitute Note shall bear a letter and/or number to distinguish it from each other Note. The Paying Agent/Registrar shall convert and exchange the Note as provided herein, and each substitute Note delivered in accordance with this Section shall constitute an original contractual obligation of the District and shall be entitled to the benefits and security of this Resolution to the same extent as the Note in lieu of which such substitute Note is delivered. TCMUD No. 1 Page 140 of 291 Meeting Date: December 20, 2011 (e) The District will pay the Paying Agent/Registrar's reasonable and customary charge for the initial registration or any subsequent transfer, exchange or conversion of the Note, but the Paying Agent/Registrar will require the Owner to pay a sum sufficient to cover any tax or other governmental charge that is authorized to be imposed in connection with the registration, transfer, exchange or conversion of a Note. In addition, the District hereby covenants with the Owners of the Note that it will (i) pay the reasonable and standard or customary fees and charges of the Paying Agent/Registrar for its services with respect to the payment of the principal of and interest on the Note, when due, and (ii) pay the fees and charges of the Paying Agent/Registrar for services with respect to the transfer, registration, conversion and exchange of Note as provided herein. (f) Neither the District nor the Paying Agent/Registrar shall be required to transfer or exchange any Note called for prepayment, in whole or in part, within 45 days of the date fixed for prepayment; provided, however, such limitation shall not be applicable to an exchange by the Owner of the uncalled balance of a Note. Section 3.07. Cancellation and Authentication. (a) The Note in lieu of which an exchange Note or replacement Note is authenticated and delivered in accordance with this Resolution, shall be canceled and destroyed upon the making of proper records regarding such payment, prepayment, exchange or replacement. The Paying Agent/Registrar shall periodically furnish the District with certificates of destruction of such Note. (b) Each substitute Note issued pursuant to the provisions of Sections 3.06 and 3.08 of this Resolution, in conversion of and exchange for or replacement of any Note issued under this Resolution, shall have printed thereon a Paying Agent/Registrar's Authentication Note, in the form hereinafter set forth. An authorized representative of the Paying Agent/Registrar shall, before the delivery of any such Note, manually sign and date such Note, and no such Note shall be deemed to be issued or outstanding unless such Note is so executed. No additional ordinances, orders, or resolutions need be passed or adopted by the Board of Directors or any other body or person so as to accomplish the foregoing conversion and exchange or replacement of any Note or portion thereof, and the Paying Agent/Registrar shall provide for the printing, execution, and delivery of the substitute Note in the manner prescribed herein. Pursuant to Title 9, Tex. Gov't Code Ann., as amended, and particularly Chapter 1201, Subchapter D thereof, the duty of conversion and exchange or replacement of the Note as aforesaid is hereby imposed upon the Paying Agent/Registrar, and, upon the execution of the above Paying Agent/Registrar's Authentication Note, the converted and exchanged or replaced Note shall be valid, incontestable, and enforceable in the same manner and with the same effect as the Initial Note which was originally delivered pursuant to this Resolution, approved by the Attorney General, and registered by the Comptroller of Public Accounts of the State of Texas. (c) A Note issued in conversion and exchange or replacement of any other Note, (i) shall be issued in fully registered form, without interest coupons, with the principal of and interest on such TCMUD No. 1 Page 141 of 291 Meeting Date: December 20, 2011 Note to be payable only to the registered owners thereof, (ii) may be prepaid prior to their scheduled maturities, (iii) may be transferred and assigned, (iv) may be converted and exchanged for another Note, (v) shall have the characteristics, (vi) shall be signed and sealed, and (vii) shall be payable as to principal of and interest, all as provided, and in the manner required or indicated, in the Form of Note set forth in this Resolution. Section 3.08. Replacement Notes. (a) Upon the presentation and surrender to the Paying Agent/Registrar, at the Designated Payment/Transfer Office, of a mutilated Note, the Paying Agent/Registrar shall authenticate and deliver in exchange therefor a replacement Note of like tenor and principal amount, bearing a number not contemporaneously outstanding. The District or the Paying Agent/ Registrar may require the Owner of such Note to pay a sum sufficient to cover any tax or other governmental charge that is authorized to be imposed in connection therewith and any other expenses connected therewith. (b) In the event that any Note is lost, apparently destroyed or wrongfully taken, the Paying Agent/Registrar, pursuant to the applicable laws of the State of Texas and in the absence of notice or knowledge that such Note has been acquired by a bona fide purchaser, shall authenticate and deliver a replacement Note of like tenor and principal amount, bearing a number not contemporaneously outstanding, provided that the Owner first: (i) furnishes to the Paying Agent/Registrar satisfactory evidence of his or her ownership of and the circumstances of the loss, destruction or theft of such Note; (ii) furnishes such security or indemnity as may be required by the Paying Agent/Registrar and the District to save them harmless; (iii) pays all expenses and charges in connection therewith, including, but not limited to, printing costs, legal fees, fees of the Paying Agent/Registrar and any tax or other governmental charge that is authorized to be imposed; and (iv) satisfies any other reasonable requirements imposed by the District and the Paying Agent/Registrar. (c) If, after the delivery of such replacement Note, a bona fide purchaser of the original Note in lieu of which such replacement Note was issued presents for payment such original Note, the District and the Paying Agent/Registrar shall be entitled to recover such replacement Note from the person to whom it was delivered or any person taking therefrom, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the District or the Paying Agent/Registrar in connection therewith. (d) In the event that any such mutilated, lost, apparently destroyed or wrongfully taken TCMUD No. 1 Page 142 of 291 Meeting Date: December 20, 2011 Note has become or is about to become due and payable, the Paying Agent/Registrar, in its discretion, instead of issuing a replacement Note, may pay such Note if it has become due and payable or may pay such Note when it becomes due and payable. (e) Each replacement Note delivered in accordance with this Section shall constitute an original contractual obligation of the District and shall be entitled to the benefits and security of this Resolution to the same extent as the Note in lieu of which such replacement Note is delivered. ARTICLE IV PREPAYMENT OF NOTE BEFORE MATURITY Section 4.01. No Prepayment. The Note shall not be subject to prepayment before scheduled maturity. Section 4.02. Waiver. Notwithstanding Section 4.01, the Note may be prepaid prior to its stated maturity upon written agreement between the District and the Lende upon conditions mutually acceptable to the Lender and the District. ARTICLE V PAYING AGENT/REGISTRAR Section 5.01. Appointment of Initial Paying Agent/Registrar. (a) The District hereby appoints First Financial Bank, National Association, as its registrar and transfer agent to keep such books or records and make such transfers and registrations under such reasonable regulations as the District and the Paying Agent/Registrar may prescribe; and the Paying Agent/Registrar shall make such transfer and registrations as herein provided. It shall be the duty of the Paying Agent/Registrar to obtain from the Owners and record in the Register the address of such Owner of such Note to which payments shall be mailed, as provided herein. The District or its designee shall have the right to inspect the Register during regular business hours of the Paying Agent/Registrar, but otherwise the Paying Agent/Registrar shall keep the Registration Books confidential and, unless otherwise required by law, shall not permit their inspection by any other entity. (b) The District hereby further appoints the Paying Agent/Registrar to act as the paying agent for paying the principal of and interest on the Note. The Paying Agent/Registrar shall keep proper records of all payments made by the District and the Paying Agent/Registrar with respect to the Note, and of all conversions, exchanges and replacements of such Note, as provided in this TCMUD No. 1 Page 143 of 291 Meeting Date: December 20, 2011 Resolution. (c) The execution and delivery of a Paying Agent/Registrar Agreement, specifying the duties and responsibilities of the District and the Paying Agent/Registrar, is hereby approved with such changes as may be approved by the General Manager of the District, and the President and Secretary-Treasurer of the Board of Directors of the District are hereby authorized to execute such agreement. Section 5.02. Qualifications. Each Paying Agent/Registrar shall be a competent and legally qualified bank, trust company, financial institution, or other agency duly qualified and legally authorized under applicable law to act as and perform the services of Paying Agent/Registrar for the Notes under this Resolution, and the Paying Agent/Registrar will be one entity. Section 5.03. Maintaining Paying Agent/Registrar. (a) At all times while the Note is outstanding, the District will maintain a Paying Agent/Registrar that is qualified under Section 5.02 of this Resolution. (b) If the Paying Agent/Registrar resigns or otherwise ceases to serve as such, the District will promptly appoint a replacement. Section 5.04. Termination. The District reserves the right to terminate the appointment of any Paying Agent/Registrar by delivering to the entity whose appointment is to be terminated a certified copy of a resolution of the District (i) giving notice of the termination of the appointment and of the Paying Agent/Registrar Agreement, stating the effective date of such termination, and (ii) appointing a successor Paying Agent/Registrar; provided that no such termination shall be effective until a successor Paying Agent/Registrar has accepted the duties of Paying Agent/Registrar for the Note. Section 5.05. Notice of Change to Owners. Promptly upon each change in the entity serving as Paying Agent/Registrar, the District will cause notice of the change to be sent to each Owner by United States mail, first class postage prepaid, at the address in the Register, stating the effective date of the change and the name of the replacement Paying Agent/Registrar and the mailing address of its Designated Payment/Transfer Office. Section 5.06. Agreement to Perform Duties and Functions. By accepting the appointment as Paying Agent/Registrar, the Paying Agent/Registrar is TCMUD No. 1 Page 144 of 291 Meeting Date: December 20, 2011 deemed to have agreed to the provisions of this Resolution and that it will perform the duties and functions of Paying Agent/Registrar prescribed hereby. Section 5.07. Delivery of Records to Successor. If a Paying Agent/Registrar is replaced, such Paying Agent/Registrar, promptly upon the appointment of the successor, will deliver the Register (or a copy thereof) and all other pertinent books and records relating to the Note to the successor Paying Agent/Registrar. ARTICLE VI FORM OF THE NOTE Section 6.01. Form Generally. (a) The Note, including the Registration Certificate of the Comptroller of Public Accounts of the State of Texas, the Certificate of the Paying Agent/Registrar and the Assignment form to appear on the Note, (i) shall be substantially in the form set forth in this Article, with such appropriate insertions, omissions, substitutions, and other variations as are permitted or required by this Resolution, and (ii) may have, at the option of the Lender, such letters, numbers, or other marks of identification (including identifying numbers and letters of the Committee on Uniform Securities Identification Procedures of the American Bankers Association) and such legends and endorsements (including any reproduction of an opinion of counsel) thereon as, consistently herewith, may be determined by the District or by the officers executing such Note, as evidenced by their execution thereof. (b) Any portion of the text of any Note may be set forth on the reverse side thereof, with an appropriate reference thereto on the face of the Note. (c) The Note shall be printed, lithographed, or engraved, and may be produced by any combination of these methods or produced in any other manner, all as determined by the officers executing such Note, as evidenced by their execution thereof, except that the Initial Note submitted to the Attorney General of Texas, and the definitive Note delivered to the Lender and any temporary Note may be typewritten or photocopied or otherwise produced. Section 6.02. Form of Note. The form of Note, including the form of Registration Certificate of the Comptroller of Public Accounts of the State of Texas, the form of Certificate of the Paying Agent/Registrar and the form of Assignment appearing on the Note, shall be substantially as follows: TCMUD No. 1 Page 145 of 291 Meeting Date: December 20, 2011 (a) [Form of Note] R-1 $_________ United States of America State of Texas TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1 REVENUE NOTE SERIES 2012 Interest Rate Final Maturity Date Date of Delivery 2.87% September 1, 2014 ______________, 2012 REGISTERED OWNER: FIRST FINANCIAL BANK, NATIONAL ASSOCIATION PRINCIPAL AMOUNT: TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1, in Denton and Tarrant Counties, Texas (the "District"), being a political subdivision of the State of Texas, for value received, hereby promises to pay, from the sources described herein, to the registered owner specified above, or registered assigns (hereinafter called the "Registered Owner"), the principal amount specified above, and to pay interest thereon, calculated on the basis of a 360-day year of twelve 30-day months, from the Date of Delivery set forth above on the balance of said principal amount from time to time remaining unpaid on March 1, 2012 and semi-annually thereafter on each September 1 and March to the final maturity date specified above, at the rate per annum set forth above. The unpaid principal of this Note shall have a final maturity date of September 1, 2014, but shall be paid in installments on September 1 in the years and in the amounts set forth in the table below: Years Principal Installments 2012 $367,000 2013 $366,000 2014 $367,000 TCMUD No. 1 Page 146 of 291 Meeting Date: December 20, 2011 The principal of and interest on this Note shall be payable without exchange or collection charges in lawful money of the United States of America upon presentation and surrender of this Note at the designated office in Southlake, Texas (the "Designated Payment/Transfer Office"), of the initial Paying Agent/Registrar or, with respect to a successor Paying Agent/Registrar, at the Designated Payment/Transfer Office of such successor. Interest on this Note is payable by check dated as of the interest payment date, mailed by the Paying Agent/Registrar to the registered owner at the address shown on the registration books kept by the Paying Agent/Registrar or by such other customary banking arrangements acceptable to the Paying Agent/Registrar, requested by, and at the risk and expense of, the person to whom interest is to be paid. For the purpose of the payment of interest on this Note, the registered owner shall be the person in whose name this Note is registered at the close of business on the "Record Date," which shall be the 15th business day of the month next preceding such interest payment date; provided, however, that in the event of nonpayment of interest on a scheduled interest payment date, and for 30 days thereafter, a new record date for such interest payment (a "Special Record Date") will be established by the Paying Agent/Registrar, if and when funds for the payment of such interest have been received from the District. Notice of the Special Record Date and of the scheduled payment date of the past due interest (the "Special Payment Date", which shall be 15 days after the Special Record Date) shall be sent at least five business days prior to the Special Record Date by United States mail, first class postage prepaid, to the address of each registered owner of a Note appearing on the books of the Paying Agent/Registrar at the close of business on the last business day preceding the date of mailing such notice. The initial Paying Agent/Registrar is First Financial Bank, National Association. If a date for the payment of the principal of or interest on the Note is a Saturday, Sunday, legal holiday, or a day on which banking institutions in the city in which the Designated Payment/Transfer Office is located are authorized by law or executive order to close, then the date for such payment shall be the next succeeding day which is not a Saturday, Sunday, legal holiday, or day on which such banking institutions are authorized to close; and payment on such date shall have the same force and effect as if made on the original date payment was due. This Note is a fully registered revenue note specified in the title hereof issued in the total principal amount of $1,100,000 (herein referred to as the "Note"), issued pursuant to a certain Resolution of the Board of Directors of the District (the "Resolution"), for the purpose of providing funds for water and wastewater system improvements, particularly, raising the height of the District's elevated water storage tower, and the payment of professional services in connection therewith including legal, fiscal and engineering fees and the costs of issuing the Note. This Note constitutes a special obligation of the District, and, is payable as to both principal and interest from and secured by and payable from a first lien on and pledge of the Net Revenues of the District's water and sewer system (the "System"). Reference is hereby made to the Resolution for a more complete statement of the covenants and provisions providing for and securing the payment of this Note. The holder hereof shall never have the right to demand payment or satisfaction of this obligation, and this obligation shall not be paid or satisfied, out of any property of the District or out TCMUD No. 1 Page 147 of 291 Meeting Date: December 20, 2011 of funds raised or to be raised by taxation. The District expressly reserves the right to issue further and additional special revenue obligations equally secured by a lien on and pledge of the Net Revenues of the District's System on a parity with this Note; provided, however, that any and all such additional parity obligations may be issued only in accordance with and subject to the covenants, conditions, limitations and restrictions relating thereto which are set out and contained in the Resolution, to which reference is hereby made for more complete and full particulars. The Note is not prepayable prior to its maturity except upon written agreement between the Owner and the District, as specified in the Resolution. As provided in the Resolution, and subject to certain limitations therein set forth, this Note is transferable upon surrender of this Note for transfer at the Designated Payment/Transfer Office, with such endorsement or other evidence of transfer as is acceptable to the Paying Agent/Registrar, and, thereupon, one or more new fully registered Notes of the same stated maturity, of authorized denominations, bearing the same rate of interest, and for the same aggregate principal amount will be issued to the designated transferee or transferees. The District, the Paying Agent/Registrar, and any other person may treat the person in whose name this Note is registered as the owner hereof for the purpose of receiving payment as herein provided (except interest shall be paid to the person in whose name this Note is registered on the Record Date or Special Record Date, as applicable) and for all other purposes, whether or not this Note be overdue, and neither the District nor the Paying Agent/Registrar shall be affected by notice to the contrary. IT IS HEREBY CERTIFIED AND RECITED that the issuance of this Note and the series of which it is a part is duly authorized by law; that all acts, conditions and things required to be done precedent to and in the issuance of the Note have been properly done and performed and have happened in regular and due time, form and manner, as required by law; and that the total indebtedness of the District, including the Note, does not exceed any constitutional or statutory limitation. IN WITNESS WHEREOF, this Note has been duly executed on behalf of the District, under its official seal, in accordance with law. _____________________________________ ____________________________________ Kevin R. Carr, Jim Moss Secretary/Treasurer, Board of Directors President, Board of Directors Trophy Club Municipal Utility District No. 1 Trophy Club Municipal Utility District No. 1 [DISTRICT SEAL] TCMUD No. 1 Page 148 of 291 Meeting Date: December 20, 2011 (b) [Form of Certificate of Paying Agent/Registrar] CERTIFICATE OF PAYING AGENT/REGISTRAR (To be executed if this Note is not accompanied by an executed Registration Certificate of the Comptroller of Public Accounts of the State of Texas) It is hereby certified that this Note has been issued under the provisions of the Resolution described in the text of this Note; and that this Note has been issued in replacement of, or in exchange for, a Note that originally was approved by the Attorney General of the State of Texas and registered by the Comptroller of Public Accounts of the State of Texas. Dated: . First Financial Bank, National Association Paying Agent/Registrar By: Authorized Representative (c) [Form of Assignment] ASSIGNMENT FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto (print or typewrite name, address and zip code of transferee): (Social Security or other identifying number: ) the within Note and all rights hereunder and hereby irrevocably constitutes and appoints attorney to transfer the within Note on the books kept for registration hereof, with full power of substitution in the premises. Dated:__________________ _______________________________ NOTICE: The signature on this Assignment must correspond with the name of the registered owner as it appears on the face of the within Note in every particular and must be guaranteed in a manner acceptable to the Paying Agent/Registrar. Signature Guaranteed By: ______________________________ Authorized Signatory (d) [Form of Registration Certificate of Comptroller of Public Accounts] TCMUD No. 1 Page 149 of 291 Meeting Date: December 20, 2011 The following Registration Certificate of Comptroller of Public Accounts shall appear on the Initial Note in lieu of the Certificate of Paying Agent/Registrar: REGISTRATION CERTIFICATE OF COMPTROLLER OF PUBLIC ACCOUNTS OFFICE OF THE COMPTROLLER § OF PUBLIC ACCOUNTS § REGISTER NO. _________________ § THE STATE OF TEXAS § I HEREBY CERTIFY THAT there is on file and of record in my office a certificate to the effect that the Attorney General of the State of Texas has approved this Note, and that this Note has been registered this day by me. WITNESS MY SIGNATURE AND SEAL OF OFFICE this ____________________. _______________________________ [SEAL] Comptroller of Public Accounts of the State of Texas Section 6.03. CUSIP Registration. The District may secure identification numbers through the CUSIP Service Bureau Division of Standard & Poor's Corporation, and may authorize the printing of such numbers on the face of the Note. It is expressly provided, however, that the presence or absence of CUSIP numbers on the Note shall be of no significance or effect as regards the legality thereof and neither the District nor the attorneys approving said Note as to legality are to be held responsible for CUSIP numbers incorrectly printed on the Note. ARTICLE VII SALE OF THE NOTE; CONTROL AND DELIVERY OF THE NOTE Section 7.01. Sale of Note. (a) The Note is hereby sold, pursuant to private placement therefor, on this date, and shall be delivered to First Financial Bank, National Association (the "Lender" or initially the "Registered Owner") at a price of par. The President of the Board of Directors of the District is authorized to execute the acceptance clause of the Investment and Commitment Letter with the Lender. The Note TCMUD No. 1 Page 150 of 291 Meeting Date: December 20, 2011 shall initially be registered in the name of First Financial Bank, National Association. (b) All officers of the District are authorized to execute such documents, certificates and receipts as they may deem appropriate in order to consummate the delivery of the Note in accordance with the Investment and Commitment Letter. (c) The obligation of the Lender to accept delivery of the Note is subject to the Lender's being furnished with the final, approving opinion of McCall, Parkhurst & Horton L.L.P., Bond Counsel for the District, which opinion shall be dated and delivered the Closing Date. The engagement of such firm as bond counsel for the District in connection with the issuance, sale and delivery of the Note is hereby approved, ratified and confirmed. Section 7.02. Control and Delivery of the Note. (a) The President of the Board of Directors of the District is hereby authorized to have control of the Initial Note and all necessary records and proceedings pertaining thereto pending investigation, examination and approval of the Attorney General of the State of Texas, registration by the Comptroller of Public Accounts of the State of Texas, and registration with, and initial exchange or transfer by, the Paying Agent/Registrar. (b) After registration by the Comptroller of Public Accounts of the State of Texas, delivery of the Initial Note shall be made to the Lender under and subject to the general supervision and direction of the President of the Board of Directors of the District, against receipt by the District of all amounts due to the District under the terms of sale. ARTICLE VIII CREATION OF FUNDS AND ACCOUNTS; DEPOSIT OF PROCEEDS; INVESTMENTS Section 8.01. Creation of Funds. (a) The District hereby establishes the following special funds or accounts: (i) Trophy Club Municipal Utility District No. 1, Revenue Note, Series 2012, Interest and Sinking Fund (the "Interest and Sinking Fund"); (ii) Trophy Club Municipal Utility District No. 1, Revenue Note, Series 2012, Construction Fund (the "Construction Fund"); and (iii) Trophy Club Municipal Utility District No. 1, Revenue Note, Series 2012, Revenue Fund (the "Revenue Fund"). TCMUD No. 1 Page 151 of 291 Meeting Date: December 20, 2011 (b) The Interest and Sinking Fund, Construction Fund and the Revenue Fund shall be maintained at an official depository of the District. Section 8.02. Interest and Sinking Fund. (a) Net Revenues of the System shall be deposited to the credit of the Interest and Sinking Fund at such times and in such amounts as necessary for the timely payment of the principal of and interest on the Note. (b) Money on deposit in the Interest and Sinking Fund shall be used to pay the principal of and interest on the Note as such become due and payable. Section 8.03. Construction Fund. (a) Money on deposit in the Construction Fund, including investment earnings thereof, shall be used for the purposes specified in Section 3.01 of this Resolution. (b) All amounts remaining in the Construction Fund after the accomplishment of the purposes for which the Note is hereby issued, including investment earnings of the Construction Fund, shall be deposited into the Interest and Sinking Fund, unless a change in applicable law permits or authorizes all or any part of such funds to be used for other purposes. Section 8.04. Revenue Fund. There is hereby established on the books of the District a Revenue Fund. All gross revenues of every nature received from the operation and ownership of the System shall be deposited from day to day as collected into the Revenue Fund, and the reasonable, necessary, and proper expenses of operation and maintenance of the System shall be paid from the Revenue Fund. The revenues of the System not actually required to pay said expenses shall be deposited from the Revenue Fund into the funds to the extent provided hereunder. However, until the Parity Revenue Obligations are retired, any surplus Net Revenues of the System not required to be deposited in the funds and accounts established by the resolutions authorizing the Parity Revenue Obligations shall be deposited in the Revenue Fund established herein. Section 8.05. Security of Funds. All moneys on deposit in the funds referred to in this Resolution shall be secured in the manner and to the fullest extent required by the laws of the State of Texas for the security of public funds, and moneys on deposit in such funds shall be used only for the purposes permitted by this Resolution. Section 8.06. Deposit of Proceeds. TCMUD No. 1 Page 152 of 291 Meeting Date: December 20, 2011 The proceeds of the Note shall be deposited to the Construction Fund and used for the purposes specified in Section 3.01 hereof and for paying the costs of issuance with respect to the Note. Section 8.07. Investments. (a) Money in the funds established by this Resolution, at the option of the District, may be invested in such securities or obligations as permitted under applicable law. (b) Any securities or obligations in which money is so invested shall be kept and held in trust for the benefit of the Owners and shall be sold and the proceeds of sale shall be timely applied to the making of all payments required to be made from the fund from which the investment was made. Section 8.08. Investment Income. Interest and income derived from investment of any fund created by this Resolution shall be credited to such fund. ARTICLE IX ADDITIONAL PARITY OBLIGATIONS Section 9.01. Issuance of Additional Parity Obligations Authorized. In addition to the right to issue obligations of inferior lien as authorized by the laws of this State, the District reserves the right to issue bonds, notes and other obligations which, when duly authorized and issued in compliance with law and the terms and conditions hereinafter appearing, shall be on a parity with the Note, payable from and equally and ratably secured by a first lien on and pledge of the Net Revenues of the System; and the Note and Additional Parity Obligations shall in all respects be of equal dignity. The Additional Parity Obligations may be issued in one or more installments, provided, however, that none shall be issued unless and until the following conditions have been met: (a) A certificate is executed by the General Manager of the District and the President of the Board to the effect that no default exists in connection with any of the covenants or requirements of the Resolution or Resolutions authorizing the issuance of the Note and all then outstanding Additional Parity Obligations; (b) A certificate is executed by the General Manager of the District and the President of the Board to the effect that the Interest and Sinking Fund contains the amount of money then required to be on deposit therein; TCMUD No. 1 Page 153 of 291 Meeting Date: December 20, 2011 (c) A certificate is executed by a Certified Public Accountant to the effect that, in his opinion, the Net Earnings of the System either for the last complete fiscal year of the District, or for any twelve consecutive calendar month period ending not more than 90 days prior to the passage of the Resolution authorizing the issuance of such Additional Parity Obligations, were at least 1.00 times the average annual principal and interest requirements for the then outstanding Parity Revenue Obligations and the Additional Parity Obligations then proposed to be issued. PROVIDED, that the term "Net Earnings of the System" shall mean all of the Net Revenues of the System, except that in calculating Net Revenues there shall not be deducted as an expense of operation and maintenance any charge or disbursement for repairs or extensions which, under standard accounting practice, should be charged to capital expenditures; and PROVIDED FURTHER, that it shall not be necessary for the District to meet the above requirements to issue Additional Parity Obligations if the District obtains the written consent of all of the holders of all outstanding Parity Revenue Obligations. ARTICLE X REPRESENTATIONS AND COVENANTS AS TO PAYMENT AND TAX EXEMPTION Section 10.01. Payment of the Note. While the Note is outstanding and unpaid, there shall be made available to the Paying Agent/Registrar, out of the Interest and Sinking Fund, money sufficient to pay the interest on and the principal of the Note, as applicable, as will accrue or mature on each applicable Interest Payment Date. Section 10.02. Other Representations and Covenants. (a) The District will faithfully perform at all times any and all covenants, undertakings, stipulations, and provisions contained in this Resolution and in the Note; the District will promptly pay or cause to be paid the principal of, interest on, and premium, if any, with respect to, the Note on the dates and at the places and manner prescribed in such Note; and the District will, at the times and in the manner prescribed by this Resolution, deposit or cause to be deposited the amounts of money specified by this Resolution. (b) The District is duly authorized under the laws of the State of Texas to issue the Note; all action on its part for the creation and issuance of the Note has been duly and effectively taken; and the Note in the hands of the Owners thereof is and will be a valid and enforceable obligation of the District in accordance with its terms. (c) The District will at all times collect for services rendered by the System such amounts as will be at least sufficient to pay all expenses of operation and maintenance, and to provide Net TCMUD No. 1 Page 154 of 291 Meeting Date: December 20, 2011 Revenues which will be adequate to pay promptly all of the principal of and interest on the Note and and any Additional Parity Obligations, and to make all deposits now or hereafter required to be made into the funds created and established by this Resolution or any other/resolution authorizing Additional Parity Obligations. (d) If the System should become legally liable for any other indebtedness, the District shall fix, maintain, charge and collect additional rates and services rendered by the System, sufficient to establish and maintain funds for the payment thereof. Section 10.03. Covenants Regarding Tax Exemption of Interest on the Note. (a) Covenants. The District covenants to take any action necessary to assure, or refrain from any action which would adversely affect, the treatment of the Note as an obligation described in section 103 of the Internal Revenue Code of 1986, as amended (the "Code"), the interest on which is not includable in the "gross income" of the holder for purposes of federal income taxation. In furtherance thereof, the District covenants as follows: (1) to take any action to assure that no more than 10 percent of the proceeds of the Note or the projects financed therewith (less amounts deposited to a reserve fund, if any) are used for any "private business use," as defined in section 141(b)(6) of the Code or, if more than 10 percent of the proceeds or the projects financed therewith are so used, such amounts, whether or not received by the District, with respect to such private business use, do not, under the terms of this Resolution or any underlying arrangement, directly or indirectly, secure or provide for the payment of more than 10 percent of the debt service on the Note, in contravention of section 141(b)(2) of the Code; (2) to take any action to assure that in the event that the "private business use" described in subsection (1) hereof exceeds 5 percent of the proceeds of the Note or the projects financed therewith (less amounts deposited into a reserve fund, if any) then the amount in excess of 5 percent is used for a "private business use" which is "related" and not "disproportionate," within the meaning of section 141(b)(3) of the Code, to the governmental use; (3) to take any action to assure that no amount which is greater than the lesser of $5,000,000, or 5 percent of the proceeds of the Note (less amounts deposited into a reserve fund, if any) is directly or indirectly used to finance loans to persons, other than state or local governmental units, in contravention of section 141(c) of the Code; (4) to refrain from taking any action which would otherwise result in the Note being treated as a "private activity bond" within the meaning of section 141(b) of the Code; (5) to refrain from taking any action that would result in the Note being "federally guaranteed" within the meaning of section 149(b) of the Code; TCMUD No. 1 Page 155 of 291 Meeting Date: December 20, 2011 (6) to refrain from using any portion of the proceeds of the Note, directly or indirectly, to acquire or to replace funds which were used, directly or indirectly, to acquire investment property (as defined in section 148(b)(2) of the Code) which produces a materially higher yield over the term of the Note, other than investment property acquired with -- (A) proceeds of the Note invested for a reasonable temporary period of 3 years or less or, in the case of a refunding bond, for a period of 30 days or less until such proceeds are needed for the purpose for which the Note is issued, (B) amounts invested in a bona fide debt service fund, within the meaning of section l.148-1(b) of the Treasury Regulations, and (C) amounts deposited in any reasonably required reserve or replacement fund to the extent such amounts do not exceed 10 percent of the proceeds of the Note; (7) to otherwise restrict the use of the proceeds of the Note or amounts treated as proceeds of the Note, as may be necessary, so that the Note does not otherwise contravene the requirements of section 148 of the Code (relating to arbitrage) and, to the extent applicable, section 149(d) of the Code (relating to advance refundings); and (8) to pay to the United States of America at least once during each five-year period (beginning on the date of delivery of the Note) an amount that is at least equal to 90 percent of the "Excess Earnings," within the meaning of section 148(f) of the Code and to pay to the United States of America, not later than 60 days after the Note has been paid in full, 100 percent of the amount then required to be paid as a result of Excess Earnings under section 148(f) of the Code. (b) Rebate Fund. In order to facilitate compliance with the above covenant (8), a "Rebate Fund" is hereby established by the District for the sole benefit of the United States of America, and such fund shall not be subject to the claim of any other person, including without limitation the bondholders. The Rebate Fund is established for the additional purpose of compliance with section 148 of the Code. (c) Proceeds. The District understands that the term "proceeds" includes "disposition proceeds" as defined in the Treasury Regulations and, in the case of refunding bonds, transferred proceeds (if any) and proceeds of the refunded bonds expended prior to the date of issuance of the Note. It is the understanding of the District that the covenants contained herein are intended to assure compliance with the Code and any regulations or rulings promulgated by the U.S. Department of the Treasury pursuant thereto. In the event that regulations or rulings are hereafter promulgated which modify or expand provisions of the Code, as applicable to the Note, the District will not be required to comply with any covenant contained herein to the extent that such failure to comply, in TCMUD No. 1 Page 156 of 291 Meeting Date: December 20, 2011 the opinion of nationally recognized bond counsel, will not adversely affect the exemption from federal income taxation of interest on the Note under section 103 of the Code. In the event that regulations or rulings are hereafter promulgated which impose additional requirements which are applicable to the Note, the District agrees to comply with the additional requirements to the extent necessary, in the opinion of nationally recognized bond counsel, to preserve the exemption from federal income taxation of interest on the Note under section 103 of the Code. In furtherance of such intention, the District hereby authorizes and directs the President of the Board of Directors to execute any documents, certificates or reports required by the Code and to make such elections, on behalf of the District, which may be permitted by the Code as are consistent with the purpose for the issuance of the Note. (d) Allocation Of, and Limitation On, Expenditures for the Project. The District covenants to account for the expenditure of sale proceeds and investment earnings to be used for the purposes described in Section 1 of this Resolution (the "Project") on its books and records in accordance with the requirements of the Code. The District recognizes that in order for the proceeds to be considered used for the reimbursement of costs, the proceeds must be allocated to expenditures within 18 months of the later of the date that (1) the expenditure is made, or (2) the Project is completed; but in no event later than three years after the date on which the original expenditure is paid. The foregoing notwithstanding, the District recognizes that in order for proceeds to be expended under the Code, the sale proceeds or investment earnings must be expended no more than 60 days after the earlier of (1) the fifth anniversary of the delivery of the Note, or (2) the date the Note is retired. The District agrees to obtain the advice of nationally-recognized bond counsel if such expenditure fails to comply with the foregoing to assure that such expenditure will not adversely affect the tax-exempt status of the Note. For purposes of this subsection, the District shall not be obligated to comply with this covenant if it obtains an opinion of nationally-recognized bond counsel to the effect that such failure to comply will not adversely affect the excludability for federal income tax purposes from gross income of the interest. (e) Disposition of Project. The District covenants that the property constituting the Project will not be sold or otherwise disposed in a transaction resulting in the receipt by the District of cash or other compensation, unless the District obtains an opinion of nationally-recognized bond counsel that such sale or other disposition will not adversely affect the tax-exempt status of the Note. For purposes of this subsection, the portion of the property comprising personal property and disposed of in the ordinary course shall not be treated as a transaction resulting in the receipt of cash or other compensation. For purposes of this subsection, the District shall not be obligated to comply with this covenant if it obtains an opinion of nationally-recognized bond counsel to the effect that such failure to comply will not adversely affect the excludability for federal income tax purposes from gross income of the interest. (f) Designation as Qualified Tax-Exempt Obligations. The District hereby designates the Note as a "qualified tax-exempt obligation" as defined in section 265(b)(3) of the Code. In furtherance of such designation, the District represents, covenants and warrants the following: (a) that during the calendar year in which the Note is issued, the District (including any subordinate entities) has not designated nor will designate bonds or other municipal securities, which when TCMUD No. 1 Page 157 of 291 Meeting Date: December 20, 2011 aggregated with the Note, will result in more than $10,000,000 of "qualified tax-exempt obligations" being issued; (b) that the District reasonably anticipates that the amount of tax-exempt obligations issued, during the calendar year in which the Note is issued, by the District (or any subordinate entities) will not exceed $10,000,000; and, (c) that the District will take such action or refrain from such action as necessary, and as more particularly set forth in this Section, in order that the Note will not be considered a "private activity bond" within the meaning of section 141 of the Code. ARTICLE XI DEFAULT AND REMEDIES Section 11.01. Events of Default. Each of the following occurrences or events for the purpose of this Resolution is hereby declared to be an "Event of Default," to-wit: (i) the failure to make payment of the principal of or interest on the Note when the same becomes due and payable; or (ii) default in the performance or observance of any other covenant, agreement or obligation of the District, the failure to perform which materially, adversely affects the rights of the Owners, including but not limited to, their prospect or ability to be repaid in accordance with this Resolution, and the continuation thereof for a period of 60 days after notice of such default is given by any Owner to the District. Section 11.02. Remedies for Default. (a) Upon the happening of any Event of Default, then and in every case any Owner or an authorized representative thereof, including but not limited to, a trustee or trustees therefor, may proceed against the District for the purpose of protecting and enforcing the rights of the Owners under this Resolution, by mandamus or other suit, action or special proceeding in equity or at law, in any court of competent jurisdiction, for any relief permitted by law, including the specific performance of any covenant or agreement contained herein, or thereby to enjoin any act or thing that may be unlawful or in violation of any right of the Owners hereunder or any combination of such remedies. TCMUD No. 1 Page 158 of 291 Meeting Date: December 20, 2011 (b) It is provided that all such proceedings shall be instituted and maintained for the equal benefit of all Owners of the Note then outstanding. Section 11.03. Remedies Not Exclusive. (a) No remedy herein conferred or reserved is intended to be exclusive of any other available remedy or remedies, but each and every such remedy shall be cumulative and shall be in addition to every other remedy given hereunder or under the Note or now or hereafter existing at law or in equity; provided, however, that notwithstanding any other provision of this Resolution, the right to accelerate the debt evidenced by the Note shall not be available as a remedy under this Resolution. (b) The exercise of any remedy herein conferred or reserved shall not be deemed a waiver of any other available remedy. ARTICLE XII DISCHARGE AND DEFEASANCE Section 12.01. Defeasance of Notes. (a) Any Note and the interest thereon shall be deemed to be paid, retired and no longer outstanding (a "Defeased Note") within the meaning of this Resolution, except to the extent provided in subsections (c) and (e) of this Section, when payment of the principal of such Note, plus interest thereon to the due date or dates (whether such due date or dates be by reason of maturity, upon prepayment, or otherwise) either (i) shall have been made or caused to be made in accordance with the terms thereof (including the giving of any required notice of prepayment or the establishment of irrevocable provisions for the giving of such notice) or (ii) shall have been provided for on or before such due date by irrevocably depositing with or making available to the Paying Agent/Registrar or an eligible trust company or commercial bank for such payment (1) lawful money of the United States of America sufficient to make such payment, (2) Defeasance Securities, certified by an independent public accounting firm of national reputation to mature as to principal and interest in such amounts and at such times as will ensure the availability, without reinvestment, of sufficient money to provide for such payment and when proper arrangements have been made by the District with the Paying Agent/Registrar or an eligible trust company or commercial bank for the payment of its services until all Defeased Notes shall have become due and payable or (3) any combination of (1) and (2). At such time as a Note shall be deemed to be a Defeased Note hereunder, as aforesaid, such Note and the interest thereon shall no longer be secured by, payable from, or entitled to the benefits of, the ad valorem taxes herein levied and pledged as provided in this Resolution, and such principal and interest shall be payable solely from such money or Defeasance Securities. TCMUD No. 1 Page 159 of 291 Meeting Date: December 20, 2011 (b) The deposit under clause (ii) of subsection (a) shall be deemed a payment of a Note as aforesaid when proper notice of prepayment of such Note shall have been given or upon the establishment of irrevokable provisions for the giving of such notice, in accordance with this Resolution. Any money so deposited with the Paying Agent/Registrar or an eligible trust company or commercial bank as provided in this Section may at the discretion of the Board of Directors also be invested in Defeasance Securities, maturing in the amounts and at the times as hereinbefore set forth, and all income from all Defeasance Securities in possession of the Paying Agent/Registrar or an eligible trust company or commercial bank pursuant to this Section which is not required for the payment of such Note and premium, if any, and interest thereon with respect to which such money has been so deposited, shall be remitted to the Board of Directors. (c) Notwithstanding any provision of any other Section of this Resolution which may be contrary to the provisions of this Section, all money or Defeasance Securities set aside and held in trust pursuant to the provisions of this Section for the payment of principal of the Note and premium, if any, and interest thereon, shall be applied to and used solely for the payment of the particular Note and premium, if any, and interest thereon, with respect to which such money or Defeasance Securities have been so set aside in trust. Until all Defeased Notes shall have become due and payable, the Paying Agent/Registrar shall perform the services of Paying Agent/Registrar for such Defeased Notes the same as if they had not been defeased, and the District shall make proper arrangements to provide and pay for such services as required by this Resolution. (d) Notwithstanding anything elsewhere in this Resolution, if money or Defeasance Securities have been deposited or set aside with the Paying Agent/Registrar or an eligible trust company or commercial bank pursuant to this Section for the payment of the Note and such Note shall not have in fact been actually paid in full, no amendment of the provisions of this Section shall be made without the consent of the registered owner of each Note affected thereby. (e) Notwithstanding the provisions of subsection (a) immediately above, to the extent that, upon the defeasance of any Defeased Note to be paid at its maturity, the District retains the right under Texas law to later call that Defeased Note for prepayment in accordance with the provisions of this Resolution, the District may call such Defeased Note for prepayment upon complying with the provisions of Texas law and upon the satisfaction of the provisions of subsection (a) immediately above with respect to such Defeased Note as though it was being defeased at the time of the exercise of the option to prepay the Defeased Note and the effect of the prepayment is taken into account in determining the sufficiency of the provisions made for the payment of the Defeased Note. TCMUD No. 1 Page 160 of 291 Meeting Date: December 20, 2011 ARTICLE XIII NO RULE 15c2-12 UNDERTAKING Section 13.01. No Rule 15c2-12 Undertaking. The District has not made an undertaking with respect to the Note in accordance with Rule 15c2-12 of the Securities and Exchange Commission (the "Rule"). The District is not, therefore, obligated pursuant to the Rule to provide any on-going disclosure relating to the District or the Note. Section 13.02. Financial Information of the District. While the Note remains outstanding, upon written request by the Lender, the District shall provide the Lender audited financial statements, to be provided within 180 days after the close of each District fiscal year ending in and after 2011; provided, that the District shall not be required to provide such audited financial statements to the Lender if such financial statements are available for public access free of charge at www.emma.msrb.org within such 180 day period after the close of each fiscal year. ARTICLE XIV AMENDMENTS; FURTHER PROCEDURES; AND SEVERABILITY Section 14.01. Amendments. This Resolution shall not be amended or repealed by the District while any portion of the Note remains outstanding, except as permitted by this Section. The District, without the consent of or notice to any Owner, from time to time and at any time, may amend this Resolution in any manner not detrimental to the interests of the Owners, including the curing of any ambiguity, inconsistency, or formal defect or omission herein. In addition, the District, with the written consent of Owners holding a majority in aggregate principal amount of the Note then outstanding affected thereby, may amend, add to, or rescind any of the provisions of this Resolution; provided that, without the consent of all Owners of any portion of the then outstanding Note, no such amendment, addition, or recision shall (i) extend the time or times of payment of the principal of and interest on the Note, reduce the principal amount thereof, prepayment price therefor, or the rate of interest thereon, or in any other way modify the terms of payment of the principal of or interest on the Note, (ii) give any preference to any Note over any other Note, or (iii) reduce the aggregate principal amount of the Note required for consent to any such amendment, addition, or recission. Section 14.02. Further Procedures. The officers and employees of the District are hereby authorized and directed from time to time and at any time to do and perform all such acts and things and to execute, acknowledge and deliver in the name and on behalf of and under the corporate seal of the District all such instruments, whether mentioned herein or not, as may be necessary or desirable in order to carry out the terms and TCMUD No. 1 Page 161 of 291 Meeting Date: December 20, 2011 provisions of this Resolution, the initial sale and delivery of the Note, the Paying Agent/Registrar Agreement, and the Investment and Commitment Letter. In addition, prior to the initial delivery of the Note, the President of the District's Board of Directors, the District's General Manager or Chief Financial Officer, and Bond Counsel are hereby authorized and directed to approve any technical changes or corrections to this Resolution or to any of the instruments authorized and approved by this Resolution necessary in order to (i) correct any ambiguity or mistake or properly or more completely document the transactions contemplated and approved by this Resolution and as described in the Official Statement, (ii) obtain a rating from any of the national bond rating agencies, or (iii) obtain the approval of the Note by the Attorney General of Texas. In the event that any officer of the District whose signature shall appear on the Initial Note or any certificate shall cease to be such officer before the delivery of such certificate, such signature nevertheless shall be valid and sufficient for all purposes the same as if such officer had remained in office until such delivery. Section 14.03. No Personal Liability. No covenant or agreement contained in the Note, this Resolution or any corollary instrument shall be deemed to be the covenant or agreement of any member of the Board of Directors or any officer, agent, employee or representative of the Board of Directors in their individual capacity, and neither the directors, officers, agents, employees or representatives of the Board of Directors nor any person executing the Note shall be personally liable thereon or be subject to any personal liability for damages or otherwise or accountability by reason of the issuance thereof, or any actions taken or duties performed, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty, or otherwise, all such liability being expressly released and waived as a condition of and in consideration for the issuance of the Note. Section 14.04. Severability. If any section, article, paragraph, sentence, clause, phrase or word in this Resolution, or application thereof to any person or circumstance is held to be invalid or unenforceable , the remainder of this Resolution and the application of such section, article, paragraph, sentence, clause, phrase or word to other persons and circumstances nevertheless shall be valid and enforceable; and it is hereby declared that this Resolution would have been enacted without such invalid or unenforceable provision. TCMUD No. 1 Page 162 of 291 Meeting Date: December 20, 2011 PASSED, APPROVED AND EFFECTIVE on this December 20, 2011. ATTEST: __________________________________ Jim Moss President, Board of Directors Trophy Club Municipal Utility District No. 1 [DISTRICT SEAL] Kevin R. Carr Secretary/Treasurer, Board of Directors Trophy Club Municipal Utility District No. 1 TCMUD No. 1 Page 163 of 291 Meeting Date: December 20, 2011 TODAY'S DATE:12/07/2011 ISSUE:Trophy Club MUD No. 1 Revenue Note, Series 2012 Dated Date 01/18/2012 Interest Accrues 01/18/2012 Revenue Note, Series 2012 Delivery Date 01/18/2012 Level Debt First Interest 03/01/2012 September 30 Total Fiscal Date Principal Coupon Interest Debt Service Debt Service 03/01/2012 $3,770.86 $3,770.86 09/01/2012 364,000.00 2.870% 15,785.00 379,785.00 $383,555.86 03/01/2013 10,561.60 10,561.60 09/01/2013 363,000.00 2.870% 10,561.60 373,561.60 384,123.20 03/01/2014 5,352.55 5,352.55 09/01/2014 373,000.00 2.870% 5,352.55 378,352.55 383,705.10 __________________________ ______________ ______________ $1,100,000.00 $51,384.16 $1,151,384.16 $1,151,384.16 ========================== ============== ============== TCMUD No. 1 Page 164 of 291 Meeting Date: December 20, 2011 TODAY'S DATE:12/07/2011 ISSUE:Trophy Club MUD No. 1 Revenue Note, Series 2012 Dated Date 01/18/2012 Interest Accrues 01/18/2012 Revenue Note, Series 2012 Delivery Date 01/18/2012 Level Principal First Interest 03/01/2012 September 30 Total Fiscal Date Principal Coupon Interest Debt Service Debt Service 03/01/2012 $3,770.86 $3,770.86 09/01/2012 367,000.00 2.870% 15,785.00 382,785.00 $386,555.86 03/01/2013 10,518.55 10,518.55 09/01/2013 366,000.00 2.870% 10,518.55 376,518.55 387,037.10 03/01/2014 5,266.45 5,266.45 09/01/2014 367,000.00 2.870% 5,266.45 372,266.45 377,532.90 __________________________ ______________ ______________ $1,100,000.00 $51,125.86 $1,151,125.86 $1,151,125.86 ========================== ============== ============== TCMUD No. 1 Page 165 of 291 Meeting Date: December 20, 2011 100 Municipal Drive Trophy Club, Texas 76262Trophy Club Entities Legislation Details (With Text) File #: Version:12011-206-M1 Name: Status:Type:M1 Agenda Item Draft File created:In control:12/12/2011 Trophy Club Municipal Utility District No. 1 On agenda:Final action:12/20/2011 Title:Discuss and take appropriate action regarding an order of the Board of Directors of the Trophy Club Municipal Utility District No. 1, authorizing the issuance and sale of Trophy Club Municipal Utility District No. 1, Unlimited Tax Refunding Bonds, Series 2012; establishing parameters for the redemption of certain outstanding obligations of the District, establishing procedures for the sale and delivery of the bonds; levying an annual ad valorem tax for the payment of said bonds, and enacting other provisions relating to the subject. Attachments:SWS Refunding Presentation for 12-20-11 Mtg.pdf Bond Order2.pdf Action ByDate Action ResultVer. Title Discuss and take appropriate action regarding an order of the Board of Directors of the Trophy Club Municipal Utility District No. 1, authorizing the issuance and sale of Trophy Club Municipal Utility District No. 1, Unlimited Tax Refunding Bonds, Series 2012; establishing parameters for the redemption of certain outstanding obligations of the District, establishing procedures for the sale and delivery of the bonds; levying an annual ad valorem tax for the payment of said bonds, and enacting other provisions relating to the subject. TCMUD No. 1 Page 166 of 291 Meeting Date: December 20, 2011 TCMUD No. 1Page 167 of 291Meeting Date: December 20, 2011 TCMUD No. 1Page 168 of 291Meeting Date: December 20, 2011 TCMUD No. 1Page 169 of 291Meeting Date: December 20, 2011 TCMUD No. 1Page 170 of 291Meeting Date: December 20, 2011 TCMUD No. 1Page 171 of 291Meeting Date: December 20, 2011 TCMUD No. 1Page 172 of 291Meeting Date: December 20, 2011 TCMUD No. 1Page 173 of 291Meeting Date: December 20, 2011 TCMUD No. 1Page 174 of 291Meeting Date: December 20, 2011 TCMUD No. 1Page 175 of 291Meeting Date: December 20, 2011 TCMUD No. 1Page 176 of 291Meeting Date: December 20, 2011 TCMUD No. 1Page 177 of 291Meeting Date: December 20, 2011 TCMUD No. 1Page 178 of 291Meeting Date: December 20, 2011 ORDER NO. ________ ORDER AUTHORIZING THE ISSUANCE OF TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1 UNLIMITED TAX REFUNDING BONDS; LEVYING AN AD VALOREM TAX IN SUPPORT OF THE BONDS; APPROVING AN OFFICIAL STATEMENT; AUTHORIZING THE EXECUTION OF A PAYING AGENT/REGISTRAR AGREEMENT AND AN ESCROW AGREEMENT; ESTABLISHING PROCEDURES FOR SELLING AND DELIVERING THE BONDS; AND AUTHORIZING OTHER MATTERS RELATED TO THE ISSUANCE OF THE BONDS TCMUD No. 1 Page 179 of 291 Meeting Date: December 20, 2011 TravisCoMUD2\UTRB11\Del: ORDER i TABLE OF CONTENTS Page ARTICLE ONE PREAMBLE Section 1.01 Incorporation of Preamble ....................................................... 2 ARTICLE TWO DEFINITIONS AND INTERPRETATIONS Section 2.01 Definitions ............................................................................... 3 Section 2.02 Interpretations .......................................................................... 6 ARTICLE THREE AUTHORIZATION, REGISTRATION, EXECUTION, AND AUTHENTICATION OF BONDS Section 3.01 Amount, Name, Purpose, and Authorization .......................... 7 Section 3.02 Date, Denominations, Numbers, Delegation to Pricing Officer 7 Section 3.03 Reserved .................................................................................. 9 Section 3.04 Payment of Principal and Interest ........................................... 9 Section 3.05 Successor Registrars ................................................................ 9 Section 3.06 Special Record Date ................................................................ 9 Section 3.07 Registered Owners .................................................................. 9 Section 3.08 Execution of Bonds ................................................................. 10 Section 3.09 Authentication ......................................................................... 10 ARTICLE FOUR REGISTRATION, TRANSFER, AND EXCHANGE Section 4.01 Registration, Transfer and Exchange ...................................... 10 Section 4.02 Mutilated, Lost, or Stolen Bonds ............................................. 11 Section 4.03 Cancellation of Bonds ............................................................. 12 Section 4.04 Book-Entry-Only System ........................................................ 12 ARTICLE FIVE REDEMPTION OF BONDS BEFORE MATURITY Section 5.01 Redemption of Bonds .............................................................. 14 TCMUD No. 1 Page 180 of 291 Meeting Date: December 20, 2011 TravisCoMUD2\UTRB11\Del: ORDER ii ARTICLE SIX FORM OF BOND Section 6.01 Form of Bond .......................................................................... 14 Section 6.02 Registration of Initial Bond by State Comptroller and Certificate 24 Section 6.03 Form of Authentication Certificate ......................................... 25 Section 6.04 Form of Assignment ................................................................ 25 Section 6.05 CUSIP Registration ................................................................. 26 Section 6.06 Legal Opinion and Bond Insurance......................................... 26 ARTICLE SEVEN SECURITY OF THE BONDS Section 7.01 General .................................................................................... 26 Section 7.02 Levy of Tax ............................................................................. 26 Section 7.03 Payment of Bonds and Performance of Obligations ............... 27 Section 7.04 Consolidation or Dissolution of District ................................. 28 ARTICLE EIGHT FLOW OF FUNDS AND INVESTMENTS Section 8.01 Funds, Flow of Funds, Application of Funds And Investments 28 Section 8.02 Security of Funds ..................................................................... 29 Section 8.03 Debt Service Fund; Tax Levy ................................................. 29 Section 8.04 Escrow Fund ............................................................................ 29 Section 8.05 Investments; Earnings ............................................................. 30 ARTICLE NINE APPLICATION OF FUNDS Section 9.01 Bond Proceeds ......................................................................... 30 Section 9.02 Accrued Interest ...................................................................... 30 Section 9.03 Escrow Fund ............................................................................ 30 ARTICLE TEN PROVISIONS CONCERNING FEDERAL INCOME TAX EXCLUSION Section 10.01 Covenants Regarding Tax Exemption of Interest on the Bonds 30 TCMUD No. 1 Page 181 of 291 Meeting Date: December 20, 2011 TravisCoMUD2\UTRB11\Del: ORDER iii ARTICLE ELEVEN ADDITIONAL BONDS AND REFUNDING BONDS Section 11.01 Additional Bonds ..................................................................... 33 Section 11.02 Other Bonds ............................................................................. 33 Section 11.03 Refunding Bonds ..................................................................... 33 ARTICLE TWELVE DEFAULT PROVISIONS Section 12.01 Remedies in Event of Default.................................................. 33 Section 12.02 Bond Order is Contract ............................................................ 35 ARTICLE THIRTEEN DISCHARGE BY DEPOSIT Section 13.01 Defeasance of Bonds ............................................................... 35 ARTICLE FOURTEEN MISCELLANEOUS PROVISIONS Section 14.01 District's Successors and Assigns ............................................ 36 Section 14.02 No Recourse Against District Officers or Directors ............... 36 Section 14.03 Registrar .................................................................................. 36 Section 14.04 Registrar May Own Bonds ...................................................... 37 Section 14.05 Benefits of Order Provisions ................................................... 37 Section 14.06 Unavailability of Authorized Publication ................................ 37 Section 14.07 Severability Clause .................................................................. 37 Section 14.08 Accounting .............................................................................. 37 Section 14.09 Further Proceedings ................................................................. 37 ARTICLE FIFTEEN SALE AND DELIVERY OF BONDS AND APPROVAL OF DOCUMENTS Section 15.01 Sale of Bonds ........................................................................... 38 Section 15.02 Approval, Registration, and Delivery ...................................... 38 Section 15.03 Approval of Offering Documents, Paying Agent/Registrar Agreement and Escrow Agreement ......................................... 38 Section 15.04 Refunding of Refunded Bonds ................................................ 39 TCMUD No. 1 Page 182 of 291 Meeting Date: December 20, 2011 TravisCoMUD2\UTRB11\Del: ORDER iv ARTICLE SIXTEEN OPEN MEETING AND EFFECTIVE DATE Section 16.01 Open Meeting .......................................................................... 39 Section 16.02 Effective Date of Bond Order.................................................. 39 ARTICLE SEVENTEEN AMENDMENTS Section 17.01 Amendments ............................................................................ 39 ARTICLE EIGHTEEN OTHER ACTIONS AND MATTERS Section 18.01 Other Actions .......................................................................... 41 Section 18.02 Additional Bond Insurance Provisions .................................... 42 Section 18.03 Payment of Attorney General Fee ........................................... 42 ARTICLE NINETEEN CONTINUING DISCLOSURE Section 19.01 Continuing Disclosure Undertaking ........................................ 42 Exhibit "A" Exhibit "B" Exhibit "C" Exhibit "D" Exhibit "E" EXHIBITS Paying Agent/Registrar Agreement Escrow Agreement Form of Notices of Redemption Continuing Disclosure Undertaking Written Procedures TCMUD No. 1 Page 183 of 291 Meeting Date: December 20, 2011 TravisCoMUD2\UTRB11\Del: ORDER ORDER AUTHORIZING THE ISSUANCE OF TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1 UNLIMITED TAX REFUNDING BONDS; LEVYING AN AD VALOREM TAX IN SUPPORT OF THE BONDS; APPROVING AN OFFICIAL STATEMENT; AUTHORIZING THE EXECUTION OF A PAYING AGENT/REGISTRAR AGREEMENT AND AN ESCROW AGREEMENT; ESTABLISHING PROCEDURES FOR SELLING AND DELIVERING THE BONDS; AND AUTHORIZING OTHER MATTERS RELATED TO THE ISSUANCE OF THE BONDS THE STATE OF TEXAS ' COUNTIES OF DENTON AND TARRANT ' TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1 ' WHEREAS, Trophy Club Municipal Utility District No. 1 (the "District") is a conservation and reclamation district, a body corporate and politic and governmental agency of the State of Texas, created as a municipal utility district pursuant to Article 16, Section 59, of the Texas Constitution by Order of the Texas Commission on Environmental Quality, the successor in interest to the Texas Water Commission (collectively, the "Commission"), and the District operates pursuant to Chapters 49 and 54 of the Texas Water Code, as amended (the "Act"); WHEREAS, the District is the successor by merger and consolidation of Trophy Club Municipal Utility District No. 1 ("Prior MUD 1") and Trophy Club Municipal Utility District No. 2 ("Prior MUD 2" and with Prior MUD 1, the "Prior MUDs") pursuant to a consolidation election held in the District on May 9, 2009 (the "Consolidation Election") by which the District consolidated the Prior MUDs into the District and assumed all outstanding and voted but unissued bonds and taxes of the Prior MUDs; and WHEREAS, the District currently has outstanding its Trophy Club Utility District No. 2 Unlimited Tax Bonds, Series 2002 (the "Outstanding Bonds"); and WHEREAS, the District now desires to issue refunding bonds to refund all or part of the Outstanding Bonds (the "Refundable Bonds", and those Refundable Bonds designated by the Pricing Officer in the Pricing Certificate, each as defined herein, to be refunded are herein referred to as the "Refunded Bonds"); and WHEREAS, all the Refunded Bonds mature or are subject to redemption prior to maturity within 20 years of the date of the bonds hereinafter authorized; and WHEREAS, the refunding bonds hereafter authorized are being issued and delivered pursuant to Chapter 1207, Texas Government Code, as amended ("Chapter 1207"); and WHEREAS, Chapter 1207 authorizes the District to issue refunding bonds and to deposit the proceeds from the sale thereof together with any other available funds or resources, directly with a place of payment (paying agent) for the Refunded Bonds or eligible trust TCMUD No. 1 Page 184 of 291 Meeting Date: December 20, 2011 2 company or commercial bank, and such deposit, if made before such payment dates, shall constitute the making of firm banking and financial arrangements for the discharge and final payment of the Refunded Bonds; and WHEREAS, Chapter 1207 further authorizes the District to enter into an escrow agreement with respect to the safekeeping, investment, reinvestment, administration and disposition of any such deposit, upon such terms and conditions as the District and such escrow agent may agree, provided that such deposits may be invested and reinvested in Defeasance Securities, as defined herein; and WHEREAS, the Escrow Agreement hereinafter authorized, constitutes an agreement of the kind authorized and permitted by Chapter 1207; and WHEREAS, the Board of Directors of the District deems it advisable and in the best interest of the District to refund the Refunded Bonds in order to achieve a net present value debt service savings of not less than 5.00% of the debt service of the Refunded Bonds net of any District contribution with such savings, among other information and terms to be included in a Pricing Certificate to be executed by the Pricing Officer, both as hereinafter defined, all in accordance with the provisions of Chapter 1207, including Section 1207.007 thereof; THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1: ARTICLE ONE PREAMBLE SECTION 1.01 INCORPORATION OF PREAMBLE. The Board of Directors of the Trophy Club Municipal Utility District No. 1 (the "District") hereby incorporates the recitals set forth in the preamble hereto as if set forth in full at this place and further finds and determines that the recitals are true and correct. ARTICLE TWO DEFINITIONS AND INTERPRETATIONS SECTION 2.01. DEFINITIONS. When used in this Order, except in Article Six, and in any resolution, order or amendatory or supplemental order hereto, the terms listed below shall have the meanings specified below, unless it is otherwise expressly provided or unless the context otherwise requires: "Accreted Value" shall mean, with respect to a Premium Compound Interest Bond, as of any particular date of calculation, the original principal amount thereof, plus all interest accrued and compounded to the particular date of calculation, as determined in accordance with the TCMUD No. 1 Page 185 of 291 Meeting Date: December 20, 2011 3 Pricing Certificate and the Accretion Table attached as an exhibit to the Pricing Certificate relating to the Bonds that shows the Accreted Value per $5,000 maturity amount on the calculation date of maturity to its maturity. "Accretion Table" means the exhibit attached to the Pricing Certificate that sets forth the rounded original principal amounts at the Issuance Date for the Premium Compound Interest Bonds and the Accreted Values and maturity amounts thereof as of each Compounding Date until final maturity. "Additional Bonds" means the additional bonds payable from ad valorem taxes which the Board expressly reserves the right to issue in Article Eleven of this Bond Order. "Authorized Denominations" means the denomination of $5,000 or any integral multiple thereof with respect to the Current Interest Bonds and in the denomination of $5,000 in maturity amount or any integral multiple thereof with respect to the Premium Compound Interest Bonds. "Authorized Investments" means such investments authorized pursuant to the investment policy of the District and Chapter 2256 of the Texas Government Code, as amended. "Board of Directors" or "Board" means the governing body of the District. "Bond Insurer" means the insurer of the bonds, if any, as designated in the Pricing Certificate. "Bonds" shall mean and include collectively the Premium Compound Interest Bonds and Current Interest Bonds initially issued and delivered pursuant to this Order and the Pricing Certificate and all substitute Bonds and Bonds exchanged therefor, as well as all other substitute bonds and replacement bonds issued pursuant hereto, and the term "Bond" shall mean any of the Bonds. "Bond Order" or "Order" means this Order of the Board of Directors authorizing the issuance of the Bonds. "Business Day" means any day which is not a Saturday, Sunday or a day on which the Paying Agent/Registrar is authorized by law or executive order to remain closed. "Compounded Amount" shall mean, with respect to a Premium Compound Interest Bond, as of any particular date of calculation, the original principal amount thereof plus all interest accrued and compounded to the particular date of calculation. "Compounding Date" means the amounts as of any September 1 and March 1 as set forth in the Accretion Table. "Current Interest Bonds" shall mean the Bonds paying current interest and maturing in each of the years and in the aggregate principal amounts set forth in the Pricing Certificate. TCMUD No. 1 Page 186 of 291 Meeting Date: December 20, 2011 4 "Defeasance Securities" means (i) Federal Securities, (ii) noncallable obligations of an agency or instrumentality of the United States of America, including obligations that are unconditionally guaranteed or insured by the agency or instrumentality and that, on the date the Board of Directors adopts or approves proceedings authorizing the issuance of refunding bonds or otherwise provide for the funding of an escrow to effect the defeasance of the Bonds are rated as to investment quality by a nationally recognized investment rating firm not less than "AAA" or its equivalent, (iii) noncallable obligations of a state or an agency or a county, municipality, or other political subdivision of a state that have been refunded and that, on the date the Board of Directors adopts or approves proceedings authorizing the issuance of refunding bonds or otherwise provide for the funding of an escrow to effect the defeasance of the Bonds, are rated as to investment quality by a nationally recognized investment rating firm no less than "AAA" or its equivalent, and (iv) any other then authorized securities or obligations under applicable State law that may be used to defease obligations such as the Bonds. "District" means Trophy Club Municipal Utility District No. 1 and any other public agency succeeding to the powers, rights, privileges, and functions of the District and, when appropriate, the Board of Directors of the District. "Escrow Agent" means The Bank of New York Mellon Trust Company, N.A. or any successor escrow agent under the Escrow Agreement. "Escrow Agreement" means the agreement by and between the District and the Escrow Agent relating to the defeasance of the Refunded Bonds. "Exchange Bonds" means Bonds registered, authenticated, and delivered by the Registrar, as provided in Section 4.01 of this Bond Order. "Federal Securities" as used herein means direct, noncallable obligations of the United States of America, including obligations that are unconditionally guaranteed by the United States of America (including Interest Strips of the Resolution Funding Corporation). "Fiscal Year" means the twelve-month accounting period for the District, which presently is the twelve-month period beginning on October 1 of each year and ending on September 30 of the following year, but which may be changed from time to time by the Board of Directors. "Initial Bond" means the Bond authorized, issued, and initially delivered as provided in Section 3.02 of this Bond Order. "Interest Payment Date" means a date on which interest on the Current Interest Bonds is due and payable as set forth in the Pricing Certificate. "Issuance Date" means the date of delivery of the Bonds. "MSRB" shall mean the Municipal Securities Rulemaking Board. TCMUD No. 1 Page 187 of 291 Meeting Date: December 20, 2011 5 "Outstanding" when used with reference to Bonds, means, as of a particular date, all Bonds theretofore and thereupon delivered except; (a) any Bond canceled by or on behalf of the District at or before said date, (b) any Bond defeased or no longer considered Outstanding pursuant to the provisions of this Order or otherwise defeased as permitted by applicable law and (c) any such Bond in lieu of or in substitution for which another Bond shall have been delivered pursuant to this Order. "Outstanding Bonds" means the District's outstanding Trophy Club Utility District No. 2 Unlimited Tax Bonds, Series 2002, dated June 1, 2002, issued in the original principal amount of $3,510,000. "Premium Compound Interest Bonds" shall mean the Bonds on which no interest is paid prior to maturity, maturing in various amounts and in the aggregate principal amount as set forth in the Pricing Certificate. "Pricing Certificate" means the Pricing Certificate of the District's Pricing Officer to be executed and delivered pursuant to Section 3.02 hereof in connection with the issuance of the Bonds. "Pricing Officer" means the President of the Board of the District or in his or her absence the General Manager of the District, acting as the designated pricing officer of the District to execute the Pricing Certificate. "Record Date" means the 15th day of the month next preceding each Interest Payment Date, whether or not such dates are Business Days. "Redemption Date" means a date fixed for redemption of any Bond pursuant to the terms of this Bond Order and the Pricing Certificate. "Refundable Bonds" means any of the District's Outstanding Bonds that are subject to redemption prior to maturity. "Refunded Bonds" means those Refundable Bonds to be refunded as designated by the Pricing Officer in the Pricing Certificate. "Register" means the registry system maintained on behalf of the District by the Registrar in which are listed the names and addresses of the Registered Owners and the principal amount of Bonds registered in the name of each Registered Owner. "Registered Owner" or "Owner" means any person or entity in whose name a Bond is registered. "Registrar" or "Paying Agent/Registrar" means The Bank of New York Mellon Trust Company, N.A., or such other bank, trust company, financial institution, or other entity as may hereafter be designated by the District to act as paying agent and registrar for the Bonds in accordance with the terms of this Bond Order. TCMUD No. 1 Page 188 of 291 Meeting Date: December 20, 2011 6 "Replacement Bonds" means the Bonds authorized by the District to be issued in substitution for lost, apparently destroyed, or wrongfully taken Bonds as provided in Section 4.02 of this Bond Order. "Rule" shall mean SEC Rule 15c2-12, as amended from time to time. "SEC" shall mean the United States Securities and Exchange Commission. "Special Project Bonds" shall mean those bonds the District reserves the right to issue in Article Eleven of this Order. "System" shall mean the works, improvements, facilities, plants, equipment, and appliances comprising the waterworks, sanitary sewer, and drainage system of the District now owned or to be hereafter purchased, constructed, or otherwise acquired whether by deed, contract, or otherwise, together with any additions or extensions thereto or improvements and replacements thereof, and the water and/or sewer and/or drainage facilities which the District may purchase or acquire with the proceeds of the sale of Special Project Bonds, so long as such Special Project Bonds are outstanding, notwithstanding that such facilities may be physically connected with the System. "Underwriter" means the senior managing underwriter as selected by the Pricing Officer, and such additional investment banking firms as the Pricing Officer deems appropriate. SECTION 2.02. INTERPRETATIONS. The titles and headings of the articles and sections and the page numbers of this Bond Order have been inserted for convenience of reference only and are not to be considered a part hereof and shall not in any way modify or restrict any of the terms or provisions hereof. This Bond Order and all the terms and provisions hereof shall be liberally construed to effectuate the purposes set forth herein and to sustain the validity of the Bonds and the validity of the taxes levied in payment thereof. ARTICLE THREE AUTHORIZATION, REGISTRATION, EXECUTION, AND AUTHENTICATION OF BONDS SECTION 3.01. AMOUNT, NAME, PURPOSE, AND AUTHORIZATION. Each Bond issued pursuant to this Bond Order shall be known and designated: "TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1 UNLIMITED TAX REFUNDING BOND, SERIES 2012", and the Bonds are hereby authorized to be issued and delivered in the maximum aggregate principal amount not to exceed $2,355,000 for the purpose of refunding the Refunded Bonds and paying certain costs of issuing the Bonds. The title of each of the Bonds shall be designated by the year in which it is awarded pursuant to Section 3.02 below. The authority of the Pricing Officer to execute a Pricing Certificate shall expire at 5:00 p.m. on June 20, 2012. Bonds priced on or before June 20, 2012 may close after such date. TCMUD No. 1 Page 189 of 291 Meeting Date: December 20, 2011 7 SECTION 3.02. DATE, DENOMINATIONS, NUMBERS, DELEGATION TO PRICING OFFICER. (a) There initially shall be issued, sold and delivered fully registered bonds, without interest coupons, which may be in the form of Current Interest Bonds or Premium Compound Interest Bonds, numbered consecutively from R-1 upward, in the case of Current Interest Bonds, and from PC-1 upward, in the case of Premium Compound Interest Bonds (except the initial Bonds delivered to the Attorney General of the State of Texas which shall be numbered T-1 and TPC-1, respectively) payable to the respective initial Registered Owners thereof, or to the registered assignee or assignees of said Bonds or any portion or portions thereof, in Authorized Denominations, maturing not later than September 1, 2023, serially or otherwise on the dates, in the years and in the principal amounts, respectively, and dated, all as set forth in the Pricing Certificate to be executed and delivered by the Pricing Officer pursuant to subsection (b) of this Section. The Pricing Certificate is hereby incorporated in and made a part of this Order and shall be filed in the minutes of the Board as a part of this Order. (b) As authorized by Section 1207.007, Texas Government Code, as amended, the Pricing Officer is hereby authorized to act on behalf of the District in selling and delivering the Bonds, determining which of the Refundable Bonds shall be refunded and constitute "Refunded Bonds" under this Order and carrying out the other procedures specified in this Order, including determining the date of the Bonds, any additional or different designation or title by which the Bonds shall be known, the price at which the Bonds will be sold, the years in which the Bonds will mature, the principal amount to mature in each of such years, the aggregate principal amount of Current Interest Bonds and Premium Compound Interest Bonds, the rate of interest to be borne by each such maturity, the interest payment periods, the dates, price, and terms upon and at which the Bonds shall be subject to redemption prior to maturity at the option of the District, as well as any mandatory sinking fund redemption provisions, and all other matters relating to the issuance, sale, and delivery of the Bonds and the refunding of the Refunded Bonds, all of which shall be specified in the Pricing Certificate; provided that (i) the price to be paid for the Bonds shall not be less than 90% of the aggregate original principal amount thereof plus accrued interest thereon from its date to its delivery, (ii) none of the Bonds shall bear interest at a rate, or yield in the case of Premium Compound Interest Bonds, greater than the maximum authorized by law, and (iii) the refunding must produce a net present value debt service savings of at least 5.00% of the debt service of the Refunded Bonds, net of any District contribution. In establishing the aggregate principal amount of the Bonds, the Pricing Officer shall establish an amount not to exceed the amount authorized in Section 3.01, which shall be sufficient to provide for the purposes for which the Bonds are authorized and to pay the costs of issuing the Bonds. (c) To achieve advantageous borrowing costs for the District, the Bonds shall be sold on a negotiated, placement or competitive basis as determined by the Pricing Officer in the Pricing Certificate. In determining whether to sell the Bonds by negotiated, placement or competitive sale, the Pricing Officer shall take into account any material disclosure issues which might exist at the time, the market conditions expected at the time of the sale and any other matters which, in the judgment of the Pricing Officer, might affect the net borrowing costs on the Bonds. TCMUD No. 1 Page 190 of 291 Meeting Date: December 20, 2011 8 If the Pricing Officer determines that the Bonds should be sold at a competitive sale, the Pricing Officer shall cause to be prepared a notice of sale and official statement in such manner as the Pricing Officer deems appropriate, to make the notice of sale and official statement available to those institutions and firms wishing to submit a bid for the Bonds, to receive such bids, and to award the sale of the Bonds to the bidder submitting the best bid in accordance with the provisions of the notice of sale. If the Pricing Officer determines that the Bonds should be sold by a negotiated sale or placement, the Pricing Officer shall designate the placement purchaser or the senior managing underwriter for the Bonds and such additional investment banking firms as the Pricing Officer deems appropriate to assure that the Bonds are sold on the most advantageous terms to the District. The Pricing Officer, acting for and on behalf of the District, is authorized to enter into and carry out a purchase agreement or other agreement for the Bonds to be sold by negotiated sale or placement, with the underwriters or placement purchasers at such price, with and subject to such terms as determined by the Pricing Officer pursuant to Section 3(b) above. (d) The Current Interest Bonds shall bear interest calculated on the basis of a 360-day year composed of twelve 30-day months from the dates specified in the FORM OF BOND set forth in this Order to their respective dates of maturity or redemption at the rates per annum set forth in the Pricing Certificate. The Premium Compound Interest Bonds shall bear interest from the Issuance Date, calculated on the basis of a 360-day year composed of twelve 30-day months (subject to rounding to the Compounded Amounts thereof), compounded on the Compounding Dates as set forth in the Pricing Certificate, and payable, together with the principal amount thereof, in the manner provided in the Form of Bond at the rates set forth in the Pricing Certificate. Attached to the Pricing Certificate, if Premium Compound Interest Bonds are to be issued, shall be the Accretion Table. The Accreted Value with respect to any date other than a Compounding Date is the amount set forth on the Accretion Table with respect to the last preceding Compounding Date, plus the portion of the difference between such amount and the amount set forth on the Accretion Table with respect to the next succeeding Compounding Date that the number of days (based on 30-day months) from such last preceding Compounding Date to the date for which such determination is being calculated bears to the total number of days (based on 30-day months) from such last preceding Compounding Date to the next succeeding Compounding Date. SECTION 3.03. PAYMENT OF PRINCIPAL AND INTEREST. The Registrar is hereby appointed as the paying agent for the Bonds. The principal of the Bonds, shall be payable, without exchange or collection charges, in any coin or currency of the United States of America which, on the date of payment, is legal tender for the payment of debts due the United States of America, upon their presentation and surrender as they become due and payable, whether at maturity or by prior redemption in the case of the Bonds, at the office for payment of the Registrar. The interest on each Bond shall be payable on as set forth in the Pricing Certificate by check or draft payable on the Interest Payment Date, mailed by the Registrar on or before each Interest Payment Date to the Registered Owner as shown on the Register on the Record Date or, at the request of a Registered Owner, and at the Registered Owner's risk and TCMUD No. 1 Page 191 of 291 Meeting Date: December 20, 2011 9 expense, in such other manner as may be acceptable to the Registered Owner and the Registrar. Any accrued interest payable at maturity or earlier redemption, in the case of the Bonds, shall be paid upon presentation and surrender of the Bond to which such interest appertains. If the date for payment on any Bond is not a Business Day, then the date for such payment shall be the next succeeding Business Day, and payment on such date shall have the same force and effect as if made on the original date payment was due. SECTION 3.04. SUCCESSOR REGISTRARS. The District covenants that at all times while any Bonds are outstanding it will provide a bank, trust company, financial institution or other entity duly qualified and duly authorized to act as Registrar for the Bonds. The District reserves the right to change the Registrar on not less than 30 days written notice to the Registrar, so long as any such notice is effective at such time as to not disrupt payment on the next succeeding principal or interest payment date on the Bonds. Promptly upon the appointment of any successor Registrar, the previous Registrar shall deliver the Register or copies thereof to the new Registrar, and the new Registrar shall notify each Registered Owner, by United States mail, first-class postage prepaid, of such change and of the address of the new Registrar. Each Registrar hereunder, by acting in that capacity, shall be deemed to have agreed to the provisions of this Section. SECTION 3.05. SPECIAL RECORD DATE. If interest on any Bond is not paid on any Interest Payment Date and continues unpaid for 30 days thereafter, the Registrar shall establish a new record date for the payment of such interest, to be known as a Special Record Date. The Registrar shall establish a Special Record Date when funds to make such interest payment are received from or on behalf of the District. Such Special Record Date shall be 15 days prior to the date fixed for payment of such past due interest, and notice of the date of payment and the Special Record Date shall be sent by United States mail, first-class, postage prepaid, not later than 5 days prior to the Special Record Date, to each affected Registered Owner of record as of the close of business on the day prior to the mailing of such notice. SECTION 3.06. REGISTERED OWNERS. The District, the Registrar and any other person may treat the person in whose name any Bond is registered as the absolute Registered Owner of such Bond for the purpose of making payment of principal or interest on such Bond, and for all other purposes, whether or not such Bond is overdue, and neither the District, nor the Registrar shall be bound by any notice or knowledge to the contrary. All payments made to the person deemed to be the Registered Owner of any Bond in accordance with this Section 3.07 shall be valid and effectual and shall discharge the liability of the District and the Registrar upon such Bond to the extent of the sums paid. SECTION 3.07. EXECUTION OF BONDS. The Bonds shall be signed on behalf of the District by the President or Vice-President of the Board of Directors and attested by the Secretary or Assistant Secretary, by their manual, lithographed, or facsimile signatures, and the official seal of the District shall be impressed or placed in facsimile thereon. The facsimile signatures on the Bonds shall have the same effect as if each of the Bonds had been signed manually and in person by each of said officers, and the facsimile seal on the Bonds shall have the same effect as if the official seal of the District had been manually impressed upon each of TCMUD No. 1 Page 192 of 291 Meeting Date: December 20, 2011 10 the Bonds. If any officer of the District whose manual or facsimile signature appears on the Bonds shall cease to be such officer before the authentication of such Bonds or before the delivery of such Bonds, such manual or facsimile signature shall nevertheless be valid and sufficient for all purposes as if such officer had remained in such office. SECTION 3.08. AUTHENTICATION. The Initial Bond shall bear thereon a certificate of registration of the Comptroller of Public Accounts of the State of Texas, substantially in the form provided in Section 6.02 of this Bond Order, manually executed by the Comptroller or a duly authorized deputy. All other Bonds shall bear a certificate of authentication, substantially in the form provided in Section 6.03 of this Bond Order, manually executed by an authorized officer of the Registrar. No Bond shall be valid or obligatory for any purpose unless either the registration certificate of the Comptroller or the authentication certificate of the Registrar has been signed by a duly authorized officer thereof. ARTICLE FOUR REGISTRATION, TRANSFER, AND EXCHANGE SECTION 4.01. REGISTRATION, TRANSFER, AND EXCHANGE. So long as any Bonds remain Outstanding, the Registrar shall keep at its designated office for payment the Register, in which, subject to such reasonable regulations as it may prescribe, the Registrar shall provide for the registration and transfer of Bonds in accordance with the terms of this Bond Order. Each Bond shall be transferable only upon the presentation and surrender thereof at the designated office for payment of the Registrar, duly endorsed for transfer, or accompanied by an assignment duly executed by the Registered Owner or an authorized representative in form satisfactory to the Registrar. Upon due presentation of any Bond for transfer, the Registrar shall authenticate and deliver in exchange therefor, within 72 hours after such presentation, a new Bond or Bonds of the same type, registered in the name of the transferee or transferees, in authorized denominations and of the same maturity and aggregate principal amount, and bearing interest at the same rate as the Bond or Bonds so presented. All Bonds shall be exchangeable upon presentation and surrender thereof at the designated office for payment of the Registrar for a Bond or Bonds of the same maturity and interest rate and in any authorized denomination, in an aggregate principal amount equal to the unpaid principal amount of the Bond or Bonds presented for exchange. The Registrar shall be and is hereby authorized to authenticate and deliver exchange Bonds in accordance with the provisions of this Section 4.01. Each Bond delivered in accordance with this Section 4.01 shall be entitled to the benefits and security of this Bond Order to the same extent as the Bond or Bonds in lieu of which such Bond is delivered. The District or the Registrar may require the Registered Owner of any Bond to pay a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with the transfer or exchange of such Bond. Any fee or charge of the Registrar for such transfer or exchange shall be paid by the District. TCMUD No. 1 Page 193 of 291 Meeting Date: December 20, 2011 11 SECTION 4.02. MUTILATED, LOST, OR STOLEN BONDS. Upon the presentation and surrender to the Registrar of a mutilated Bond, the Registrar shall authenticate and deliver in exchange therefor a replacement Bond of like maturity, interest rate and principal amount, bearing a number not contemporaneously outstanding. If any Bond is lost, apparently destroyed, or wrongfully taken, the District, pursuant to the applicable laws of the State of Texas and in the absence of notice or knowledge that such Bond has been acquired by a bona fide purchaser, shall execute and the Registrar shall authenticate and deliver a replacement Bond of like amount, bearing a number not contemporaneously outstanding. The District or the Registrar may require the Registered Owner of a mutilated Bond to pay a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith and any other expenses connected therewith, including apparently destroyed, or wrongfully taken, the District, pursuant to the applicable laws of the State of Texas and in the absence of notice or knowledge that such Bond has been acquired by a bona fide purchaser, shall execute and the Registrar shall authenticate and deliver a replacement Bond of like amount, bearing a number not contemporaneously outstanding. The District or the Registrar may require the Registered Owner of a mutilated Bond to pay a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith and any other expenses connected therewith, including the fees and expenses of the Registrar. The District or the Registrar may require the Registered Owner of a lost, apparently destroyed or wrongfully taken Bond, before any replacement Bond is issued, to: (a) furnish to the District and the Registrar satisfactory evidence of the ownership of and the circumstances of the loss, destruction or theft of such Bond; (b) furnish such security or indemnity as may be required by the Registrar and the District to save them harmless; (c) pay all expenses and charges in connection therewith, including, but not limited to, printing costs, legal fees, fees of the Registrar and any tax or other governmental charge that may be imposed; and (d) meet any other reasonable requirements of the District and the Registrar. If, after the delivery of such replacement Bond, a bona fide purchaser of the original Bond which such replacement Bond was issued presents for payment such original Bond, the District and the Registrar shall be entitled to recover such replacement Bond from the person to whom it was delivered or any person taking therefrom, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the District or the Registrar in connection therewith. If any such mutilated, lost, apparently destroyed or wrongfully taken Bond has become or is about to become due and payable, the District in its discretion may, instead of issuing a replacement Bond, authorize the Registrar to pay such Bond. TCMUD No. 1 Page 194 of 291 Meeting Date: December 20, 2011 12 Each replacement Bond delivered in accordance with this Section 4.02 shall be entitled to the benefits and security of this Bond Order to the same extent as the Bond or Bonds in lieu of which such replacement is delivered. SECTION 4.03. CANCELLATION OF BONDS. All Bonds paid in accordance with this Bond Order, and all Bonds in lieu of which exchange Bonds or replacement Bonds are authenticated, registered, and delivered in accordance herewith, shall be canceled and destroyed upon the making of proper records regarding such payment, redemption, exchange, or replacement. This Registrar shall furnish the District with appropriate certificates of destruction of such Bonds. SECTION 4.04. BOOK-ENTRY-ONLY SYSTEM. (a) Book-Entry-Only System. The Bonds issued in exchange for the Initial Bond issued as provided in Section 3.02 shall be issued in the form of a separate single fully registered Bond for each of the maturities thereof registered in the name of Cede & Co., as nominee of The Depository Trust Company of New York ("DTC") and except as provided in subsection (b) hereof, all of the outstanding Bonds shall be registered in the name of Cede & Co., as nominee of DTC. With respect to Bonds registered in the name of Cede & Co., as nominee of DTC, the District and the Paying Agent/Registrar shall have no responsibility or obligation to any securities brokers and dealers, banks, trust companies, clearing corporations and certain other organizations on whose behalf DTC was created to hold securities to facilitate the clearance and settlement of securities transactions among DTC participants (the "DTC Participant") or to any person on behalf of whom such a DTC Participant holds an interest in the Bonds. Without limiting the immediately preceding sentence, the District and the Paying Agent/Registrar shall have no responsibility or obligation with respect to (i) the accuracy of the records of DTC, Cede & Co. or any DTC Participant with respect to any ownership interest in the Bonds, (ii) the delivery to any DTC Participant or any other person, other than a Registered Owner, as shown on the Registration Books, of any notice with respect to the Bonds, or (iii) the payment to any DTC Participant or any person, other than a Registered Owner, as shown in the Registration Books of any amount with respect to principal of or interest on the Bonds. Notwithstanding any other provision of this Order to the contrary, but to the extent permitted by law, the District and the Paying Agent/Registrar shall be entitled to treat and consider the person in whose name each Bond is registered in the Registration Books as the absolute owner of such Bond for the purpose of payment of principal of and interest, with respect to such Bond, for the purposes of registering transfers with respect to such Bond, and for all other purposes of registering transfers with respect to such Bonds, and for all other purposes whatsoever. The Paying Agent/Registrar shall pay all principal of and interest on the Bonds only to or upon the order of the respective Registered Owners, as shown in the Registration Books as provided in this Order, or their respective attorneys duly authorized in writing, and all such payments shall be valid and effective to fully satisfy and discharge the District's obligations with respect to payment of principal of and interest on the Bonds to the extent of the sum or sums so paid. No person other than a Registered Owner, as shown in the Registration Books, shall receive a Bond evidencing the obligation of the District to make payments of principal, and interest pursuant to this Order. Upon delivery by DTC to the Paying Agent/Registrar of written notice to the effect that DTC has TCMUD No. 1 Page 195 of 291 Meeting Date: December 20, 2011 13 determined to substitute a new nominee in place of Cede & Co., and subject to the provisions in this Order with respect to interest checks being mailed to the registered owner at the close of business on the Record Date the word "Cede & Co." in this Order shall refer to such new nominee of DTC. (b) Successor Securities Depository; Transfer Outside Book-Entry-Only System. In the event that the District determines to discontinue the book-entry system through DTC or a successor or DTC determines to discontinue providing its services with respect to the Bonds, the District shall either (i) appoint a successor securities depository, qualified to act as such under Section 17(a) of the Securities and Exchange Act of 1934, as amended, notify DTC and DTC Participants of the appointment of such successor securities depository and transfer one or more separate Bonds to such successor securities depository or (ii) notify DTC and DTC Participants of the availability through DTC of Bonds and transfer one or more separate Bonds to DTC Participants having Bonds credited to their DTC accounts. In such event, the Bonds shall no longer be restricted to being registered in the Registration Books in the name of Cede & Co., as nominee of DTC, but may be registered in the name of the successor securities depository, or its nominee, or in whatever name or names the Registered Owner transferring or exchanging Bond shall designate, in accordance with the provisions of this Order. (c) Payments to Cede & Co. Notwithstanding any other provision of this Order to the contrary, so long as any Bond is registered in the name of Cede & Co., as nominee of DTC, all payments with respect to principal of, and interest on such Bond and all notices with respect to such Bond shall be made and given, respectively, in the manner provided in the Letter of Representations of the District to DTC. (d) DTC Blanket Letter of Representations. The District confirms execution of a Blanket Issuer Letter of Representations with DTC establishing the Book-Entry-Only System which will be utilized with respect to the Bonds. (e) Initial Bond. The Bonds herein authorized shall be initially issued as a fully registered bond, being one Bond, and the Initial Bond shall be registered in the name of the Underwriter or the designees thereof. The Initial Bond shall be the Bond submitted to the Office of the Attorney General of the State of Texas for approval, certified and registered by the Office of the Comptroller of Public Accounts of the State of Texas and delivered to the Underwriter. Immediately after the delivery of the Initial Bond on the closing date, the Paying Agent/Registrar shall cancel the Initial Bond delivered hereunder and exchange therefor Bonds in the form of a separate single fully registered Bond for each of the maturities thereof registered in the name of Cede & Co., as nominee of DTC and except as provided in Section 3.02, all of the outstanding Bonds shall be registered in the name of Cede & Co., as nominee of DTC. ARTICLE FIVE REDEMPTION OF BONDS BEFORE MATURITY SECTION 5.01. REDEMPTION OF BONDS. The Bonds are subject to redemption as set forth in the Pricing Certificate. TCMUD No. 1 Page 196 of 291 Meeting Date: December 20, 2011 14 ARTICLE SIX FORM OF BOND SECTION 6.01. FORM OF BOND. The Bonds authorized by this Bond Order shall be in substantially the following form, with such omissions, insertions, and variations, including variations in form, spacing, and style, as may be necessary and desirable and consistent with the terms of this Bond Order and the Pricing Certificate. The District shall provide sufficient printed bond forms, duly executed by the District, to the Registrar for registration, authentication, and delivery of the Bonds in accordance with the provisions of this Bond Order. FORM OF BOND UNITED STATES OF AMERICA STATE OF TEXAS TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1 UNLIMITED TAX REFUNDING BOND SERIES 2012 [FORM OF FIRST PARAGRAPHS OF CURRENT INTEREST BONDS] NO. R- PRINCIPAL AMOUNT $____________ INTEREST RATE DATE OF BONDS MATURITY DATE CUSIP NO. _________________* REGISTERED OWNER: PRINCIPAL AMOUNT: ON THE MATURITY DATE SPECIFIED ABOVE, TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1 (the "District"), being a political subdivision of the State of Texas, hereby promises to pay to the Registered Owner set forth above, or registered assign (hereinafter called the "Registered Owner") the principal amount set forth above, and to pay interest thereon calculated on the basis of a 360 day year of twelve 30 day months, from ____________* on _________* and semiannually on each ______________* and * As provided in the Pricing Certificate. To the extent that the Pricing Certificate relating to the Bonds is inconsistent with any provisions in this Form of Bond or contains information to complete the missing information in this Form of Bond, the language in the Pricing Certificate shall be used in the executed Bonds. * As provided in the Pricing Certificate. To the extent that the Pricing Certificate relating to the Bonds is inconsistent with any provisions in this TCMUD No. 1 Page 197 of 291 Meeting Date: December 20, 2011 15 ______________* thereafter (an "Interest Payment Date") to the maturity date specified above, or the date of redemption prior to maturity, at the interest rate per annum specified above; except that if this Bond is required to be authenticated and the date of its authentication is later than the first Record Date (hereinafter defined), such principal amount shall bear interest from the Interest Payment Date next preceding the date of authentication, unless such date of authentication is after any Record Date but on or before the next following Interest Payment Date, in which case such principal amount shall bear interest from such next following Interest Payment Date; provided, however, that if on the date of authentication hereof the interest on the Bond or Bonds, if any, for which this Bond is being exchanged or converted from is due but has not been paid, then this Bond shall bear interest from the date to which such interest has been paid in full. Notwithstanding the foregoing, during any period in which ownership of the Bonds is determined only by a book entry at a securities depository for the Bonds, any payment to the securities depository, or its nominee or registered assigns, shall be made in accordance with existing arrangements between the District and the securities depository. THE PRINCIPAL OF AND INTEREST ON this Bond are payable in lawful money of the United States of America, without exchange or collection charges. The principal of this Bond shall be paid to the Registered Owner hereof upon presentation and surrender of this Bond at maturity or upon the date fixed for its redemption prior to maturity at _________________*, which is the "Registrar" or "Paying Agent/Registrar" for this Bond, at its designated office for payment in Austin, Texas. The payment of interest on this Bond shall be made by the Paying Agent/Registrar to the Registered Owner hereof on each Interest Payment Date by check or draft, dated as of such Interest Payment Date, drawn by the Registrar on, and payable solely from, funds of the District required by the order authorizing the issuance of the Bonds (the "Bond Order") to be on deposit with the Registrar for such purpose as hereinafter provided; and such check or draft shall be sent by the Registrar by United States mail, first-class postage prepaid, on or before each such Interest Payment Date, to the Registered Owner hereof, at its address as it appeared on the fifteenth (15th) calendar day of the month next preceding each such date whether or not a business day (the "Record Date") on the Register kept by the Registrar listing the names and addresses of the Registered Owners (the "Register"). In addition, interest may be paid by such other method, acceptable to the Registrar, requested by, and at the risk and expense of, the Registered Owner. In the event of a non-payment of interest on a scheduled payment date, and for 30 calendar days thereafter, a new record date for such interest payment (a "Special Record Date") will be established by the Paying Agent/Registrar, if and when funds for the payment of such interest have been received from the District. Notice of the Special Record Date and of the scheduled payment date of the past due interest (which shall be 15 calendar days after the Special Record Date) shall be sent at least 5 business days prior to the Special Record Date by United States mail, first-class postage prepaid, to the address of each Registered Owner as it appears on the Register at the close of business on the last business day next preceding the date of mailing of such notice. DURING ANY PERIOD in which ownership of the Bonds is determined only by a book entry at a securities depository for the Bonds, if fewer than all of the Bonds of the same maturity Form of Bond or contains information to complete the missing information in this Form of Bond, the language in the Pricing Certificate shall be used in the executed Bonds. TCMUD No. 1 Page 198 of 291 Meeting Date: December 20, 2011 16 and bearing the same interest rate are to be redeemed, the particular Bonds of such maturity and bearing such interest rate shall be selected in accordance with the arrangements between the District and the securities depository. ANY ACCRUED INTEREST due at maturity or upon the redemption of this Bond prior to maturity as provided herein shall be paid to the Registered Owner upon presentation and surrender of this Bond for payment at the designated office for payment of the Paying Agent/Registrar. The District covenants with the Registered Owner of this Bond that on or before each principal payment date, interest payment date, and any redemption date for this Bond it will make available to the Registrar, from the "Debt Service Fund" the creation of which is affirmed by the Bond Order, the amounts required to provide for the payment, in immediately available funds, of all principal of and interest on the Bonds, when due. [FORM OF FIRST PARAGRAPHS OF PREMIUM COMPOUND INTEREST BOND] NO. PC- MATURITY AMOUNT $ INTEREST RATE ISSUANCE DATE MATURITY DATE CUSIP NO. REGISTERED OWNER: MATURITY AMOUNT: ON THE MATURITY DATE SPECIFIED ABOVE, TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1 (the "District"), being a political subdivision of the State of Texas, hereby promises to pay to the Registered Owner set forth above, or registered assigns (hereinafter called the "Registered Owner") the Maturity Amount set forth above, representing the principal amount hereof and accrued and compounded interest hereon. Interest shall accrue on the principal amount hereof from the Issuance Date at the interest rate per annum specified above, calculated on the basis of a 360 day year comprised of twelve 30 day months, compounded semiannually on __________* and ____________* of each year commencing ________, 20___*. For convenience of reference a table of the "Accreted Value" per $5,000 Maturity Amount is printed on the reverse side of this Bond. The term "Accreted Value" as set forth in the table on the reverse side hereof shall mean the original principal amount plus initial premium per $5,000 Maturity Amount compounded semiannually on _____________* and ___________* at the yield shown on such table. THE MATURITY AMOUNT of this Bond is payable in lawful money of the United States of America, without exchange or collection charges. The Maturity Amount of this Bond shall be paid to the Registered Owner hereof upon presentation and surrender of this Bond at maturity, at the designated office for payment of _______________*, which is the "Paying TCMUD No. 1 Page 199 of 291 Meeting Date: December 20, 2011 17 Agent/Registrar" for this Bond, and shall be drawn by the Paying Agent/Registrar on, and solely from, funds of the District required by the order authorizing the issuance of the Bonds (the "Bond Order") to be on deposit with the Paying Agent/Registrar for such purpose as hereinafter provided, payable to the Registered Owner hereof, as it appears on the Registration Books kept by the Paying Agent/Registrar, as hereinafter described. The District covenants with the Registered Owner of this Bond that on or before the Maturity Date for this Bond it will make available to the Paying Agent/Registrar, from the "Debt Service Fund" created by the Bond Order, the amounts required to provide for the payment, in immediately available funds of the Maturity Amount, when due. Notwithstanding the foregoing, during any period in which ownership of the Bonds is determined only by a book entry at a securities depository for the Bonds, any payment to the securities depository, or its nominee or registered assigns, shall be made in accordance with existing arrangements between the District and the securities depository. [FORM OF REMAINDER OF EACH BOND] IF THE DATE for any payment due on this Bond shall be a Saturday, Sunday, or a day on which the Paying Agent/Registrar is authorized by law or executive order to close, then the date for such payment shall be the next succeeding day which is not such a Saturday, Sunday, or day on which the Paying Agent/Registrar is authorized by law or executive order to remain closed; and payment on such date shall have the same force and effect as if made on the original date payment was due. THIS BOND is one of a series of Bonds dated as of ____________* and authorized to be issued pursuant to the Bond Order adopted by the Board of Directors of the District in the principal amount of $___________* [constituting $____________ Current Interest Bonds and $____________ Premium Compound Interest Bonds]** FOR PURPOSES OF REFUNDING THE REFUNDED BONDS AND PAYING CERTAIN COSTS OF ISSUING THE BONDS. Terms used herein and not otherwise defined shall have the meanings given in the Bond Order. ON _____________, 20__ * OR ON ANY DATE THEREAFTER, the Current Interest Bonds maturing on and after ____________, 20___*, may be redeemed prior to their scheduled maturities, at the option of the District, with funds derived from any available and lawful source, at a redemption price equal to the principal amount to be redeemed plus accrued interest to the date fixed for redemption as a whole, or from time to time in part, and, if in part, the particular Current Interest Bonds, or portions thereof, to be redeemed shall be selected and designated by the District, and if less than all of a maturity is to be redeemed the Registrar shall determine by lot the Current Interest Bonds, or portions thereof within such maturity to be redeemed (provided that a portion of a Current Interest Bond may be redeemed only in integral multiples of $5,000 of * As provided in the Pricing Certificate. To the extent that the Pricing Certificate relating to the Bonds is inconsistent with any provisions in this Form of Bond or contains information to complete the missing information in this Form of Bond, the language in the Pricing Certificate shall be used in the executed Bonds. **To be included only if Current Interest Bonds and Premium Compound Interest Bonds are both issued and completed as determined in the Pricing Certificate. TCMUD No. 1 Page 200 of 291 Meeting Date: December 20, 2011 18 principal amount). [The Premium Compound Interest Bonds are not subject to redemption prior to maturity.] [THE BONDS maturing on __________, 20___ (the "Term Bonds") are subject to mandatory sinking fund redemption by lot prior to maturity in the following amounts, on the following dates and at a price of par plus accrued interest to the redemption date. Bonds Maturing _________, 20___ Redemption Date Principal Amount ________, 20___ $ ________, 20___H H HFinal Maturity THE PRINCIPAL AMOUNT of the Term Bonds required to be redeemed pursuant to the operation of the mandatory sinking fund redemption provisions shall be reduced, at the option of the District by the principal amount of any Term Bonds of the stated maturity which, at least 50 days prior to a mandatory redemption date, (1) shall have been acquired by the District, at a price not exceeding the principal amount of such Term Bonds plus accrued interest to the date of purchase thereof, and delivered to the Paying Agent/Registrar for cancellation, (2) shall have been purchased and canceled by the Paying Agent/Registrar at the request of the District with monies in the Debt Service Fund at a price not exceeding the principal amount of the Term Bonds plus accrued interest to the date of purchase thereof, or (3) shall have been redeemed pursuant to the optional redemption provisions and not theretofore credited against a mandatory sinking fund redemption requirement.]* AT LEAST 30 calendar days prior to the date fixed for any redemption of Current Interest Bonds or portions thereof prior to maturity a written notice of such redemption shall be sent by the Registrar by United States mail, first-class postage prepaid, to the Registered Owner of each Current Interest Bond to be redeemed at its address as it appeared on the Register on the 45th calendar day prior to such redemption date and to major securities depositories and bond information services. By the date fixed for any such redemption due provision shall be made with the Registrar for the payment of the required redemption price for the Current Interest Bonds or portions for which such payment is made, all as provided above. The Current Interest Bonds or portions thereof which are to be so redeemed thereby automatically shall be treated as redeemed prior to their scheduled maturities, and they shall not bear interest after the date fixed for redemption, and they shall not be regarded as being outstanding except for the right of the Registered Owner to receive the redemption price from the Registrar out of the funds provided for such payment. If a portion of any Current Interest Bond shall be redeemed, a substitute Current Interest Bond or Bonds having the same maturity date, bearing interest at the same rate, in any authorized denomination or denominations, at the written request of the Registered Owner, and in aggregate principal amount equal to the unredeemed portion thereof, will be *Use of Term Bonds, if any, to be determined by the Pricing Officer. TCMUD No. 1 Page 201 of 291 Meeting Date: December 20, 2011 19 issued to the Registered Owner upon the surrender thereof for cancellation, at the expense of the District, all as provided in the Bond Order. WITH RESPECT TO any optional redemption of the Bonds, unless certain prerequisites to such redemption required by the Bond Order have been met and moneys sufficient to pay the principal of and premium, if any, and interest on the Bonds to be redeemed shall have been received by the Paying Agent/Registrar prior to the giving of such notice of redemption, such notice shall state that said redemption may, at the option of the District, be conditional upon the satisfaction of such prerequisites and receipt of such moneys by the Paying Agent/Registrar on or prior to the date fixed for such redemption, or upon any prerequisite set forth in such notice of redemption. If a conditional notice of redemption is given and such prerequisites to the redemption and sufficient moneys are not received, such notice shall be of no force and effect, the District shall not redeem such Bonds and the Paying Agent/Registrar shall give notice, in the manner in which the notice of redemption was given, to the effect that the Bonds have not been redeemed. ALL BONDS OF THIS SERIES are issuable solely as fully registered Bonds, without interest coupons, in the principal denomination in the case of the Bonds, of any integral multiple of $5,000. As provided in the Bond Order, this Bond may, at the request of the Registered Owner or the assignee or assignees hereof, be assigned, transferred, converted into and exchanged for a like aggregate amount of fully registered Bonds, without interest coupons, payable to the appropriate Registered Owner, assignee or assignees, as the case may be, having any authorized denomination or denominations as requested in writing by the appropriate Registered Owner, assignee or assignees, as the case may be, upon surrender of this Bond to the Registrar for cancellation, all in accordance with the form and procedures set forth in the Bond Order. Among other requirements for such assignment and transfer, this Bond must be presented and surrendered to the Registrar, together with proper instruments of assignment, in form and with guarantee of signatures satisfactory to the Registrar, evidencing assignment of this Bond or any portion or portions hereof in any authorized denomination to the assignee or assignees in whose name or names this Bond or any such portion or portions hereof is or are to be registered. The Form of Assignment printed or endorsed on this Bond may be executed by the Registered Owner to evidence the assignment hereof, but such method is not exclusive, and other instruments of assignment satisfactory to the Registrar may be used to evidence the assignment of this Bond or any portion or portions hereof from time to time by the Registered Owner. The Registrar's reasonable standard or customary fees and charges for assigning, transferring, converting and exchanging any Bond or portion thereof will be paid by the District. In any circumstance, any taxes or governmental charges required to be paid with respect thereto shall be paid by the one requesting such assignment, transfer, conversion or exchange, as a condition precedent to the exercise of such privilege. The Registrar shall not be required to make any such transfer, conversion or exchange of any Bond or any portion thereof (i) during the period commencing with the close of business on any Record Date and ending with the opening of business on the next following principal or Interest Payment Date or (ii) within 45 calendar days prior to its redemption date; provided, however, such limitation on transferability shall not be applicable to an exchange by the Registered Owner of the unredeemed balance hereof in the event of its redemption in part. TCMUD No. 1 Page 202 of 291 Meeting Date: December 20, 2011 20 WHENEVER the beneficial ownership of this Bond is determined by a book entry at a securities depository for the Bonds, the foregoing requirements of holding, delivering or transferring this Bond shall be modified to require the appropriate person or entity to meet the requirements of the securities depository as to registering or transferring the book entry to produce the same effect. IN THE EVENT any Registrar for the Bonds is changed by the District, resigns, or otherwise ceases to act as such, the District has covenanted in the Bond Order that it promptly will appoint a competent and legally qualified substitute therefor, and cause written notice thereof to be mailed to the Registered Owners of the Bonds. THE BONDS are payable from the proceeds of an ad valorem tax, without legal limit as to rate or amount, levied upon all taxable property within the District. The Bond Order provides that the District reserves the right to consolidate with one or more conservation and reclamation districts, to consolidate its waterworks and sewer systems with the systems of such districts, and to secure the Bonds and any other bonds of the District or such districts by a pledge of taxes of the consolidated system. The Bond Order further provides that the pledge of taxes, to the payment of the Bonds shall terminate at such time, if ever, as (i) money and/or defeasance obligations in an amount sufficient to defease the Bonds is deposited with or made available to the Registrar in accordance with the Bond Order or (ii) a city dissolves the District, and assumes the obligations of the District pursuant to existing Texas law. THE BONDS are issued pursuant to the Bond Order, whereunder the District covenants to levy a continuing direct annual ad valorem tax, without legal limit as to rate or amount, on taxable property within the District, for each year while any part of the Bonds are considered outstanding under the provisions of the Bond Order, in sufficient amount, together with revenues and receipts available from other sources which are equally available for such purposes, to pay interest on the Bonds as it becomes due, to provide a sinking fund for the payment of the principal of the Bonds when due or the redemption price at any earlier required redemption date with respect to the Bonds, and to pay the expenses of assessing and collecting such tax, all as more specifically provided in the Bond Order. Reference is hereby made to the Bond Order for provisions with respect to the operation and maintenance of the District's facilities, the custody and application of funds, remedies in the event of a default hereunder or thereunder, and the other rights of the Registered Owners of the Bonds. By acceptance of this Bond the Registered Owner hereof consents to all of the provisions of the Bond Order, a certified copy of which is on file in the office of the District. THE OBLIGATION to pay the principal of and the interest on this Bond is solely and exclusively the obligation of the District until such time, if ever, as the District is abolished and this Bond is assumed as described above. No other entity, including the State of Texas, any political subdivision thereof other than the District, or any other public or private body, is obligated, directly, indirectly, contingently, or in any other manner, to pay the principal of or the interest on this Bond from any source whatsoever. No part of the physical properties of the District, including the properties provided by the proceeds of the Bonds, is encumbered by any lien for the benefit of the Registered Owner of this Bond. TCMUD No. 1 Page 203 of 291 Meeting Date: December 20, 2011 21 THE DISTRICT RESERVES THE RIGHT to issue additional bonds heretofore or hereafter duly authorized at elections held in the District payable from a lien on and pledge of taxes; bonds, notes and other obligations of inferior liens, and revenue bonds, notes and other obligations payable solely from revenues of the District or revenues to be received under contracts with other persons, including private corporations, municipalities and political subdivisions or from any other source. The District further reserves the right to issue refunding bonds in any manner permitted by law to refund any bonds (including the Bonds) at or prior to their respective dates of maturity or redemption. TO THE EXTENT permitted by and in the manner provided in the Bond Order, the terms and provisions of the Bond Order and the rights of the Registered Owners of the Bonds may be modified with, in certain circumstances, the consent of the Registered Owners of a majority in aggregate principal amount of the Bonds affected thereby; provided, however, that, without the consent of the Registered Owners of all of the Bonds affected, no such modification shall (i) extend the time or times of payment of the principal of and interest on the Bonds, reduce the principal amount thereof or the rate of interest thereon, or in any other way modify the terms of payment of the principal of or interest on the Bonds, (ii) give any preference to any Bond over any other Bond, or (iii) reduce the aggregate principal amount of the Bonds required for consent to any such modification. THIS BOND shall not be valid or obligatory for any purpose or be entitled to any benefit under the Bond Order unless this Bond either (a) is registered by the Comptroller of Public Accounts of the State of Texas as evidenced by execution of the registration certificate endorsed hereon or (b) is authenticated as evidenced by execution of the authentication certificate endorsed hereon by the Registrar. IT IS HEREBY CERTIFIED, COVENANTED, AND REPRESENTED that all acts, conditions, and things necessary to be done precedent to the issuance of the Bonds in order to render the same legal, valid, and binding obligations of the District have happened and have been accomplished and performed in regular and due time, form, and manner, as required by law; that provision has been made for the payment of the principal of and interest on the Bonds by the levy of a continuing, direct annual ad valorem tax upon all taxable property within the District and that issuance of the Bonds does not exceed any constitutional or statutory limitation. In the event that any provisions herein contained do or would, presently or prospectively, operate to make any part hereof void or voidable, such provisions shall be without effect or prejudice to the remaining provisions hereof, which shall nevertheless remain operative, and such violative provisions, if any, shall be reformed by a court of competent jurisdiction within the limits of the laws of the State of Texas. IT IS FURTHER CERTIFIED that the District has designated the Bonds as "qualified tax-exempt obligations" within the meaning of Section 265(b) of the Internal Revenue Code of 1986. IN WITNESS WHEREOF, the District has caused this Bond to be signed with the manual or facsimile signature of the President or Vice-President of the Board of Directors of the District and countersigned with the manual or facsimile signature of the Secretary or Assistant TCMUD No. 1 Page 204 of 291 Meeting Date: December 20, 2011 22 Secretary of the Board of Directors of the District, and has caused the official seal of the District to be duly impressed, or placed in facsimile, on this Bond. TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1 _________________________________ ______________________________________ Secretary [Assistant Secretary], President [Vice-President], Board of Directors Board of Directors (DISTRICT SEAL) INSERTIONS FOR INITIAL BONDS (i) The Initial Current Interest Bond shall be in the form set forth in this Section, except that: A. immediately under the name of the Current Interest Bond, the headings "INTEREST RATE" and "MATURITY DATE" shall both be completed with the words "As shown below" and "CUSIP NO." shall be deleted. B. the first paragraph of the Current Interest Bond shall be deleted and the following will be inserted: "ON THE MATURITY DATE SPECIFIED BELOW, Trophy Club Municipal Utility District No. 1 (the "District"), being a political subdivision of the State of Texas, hereby promises to pay to the Registered Owner specified above, or registered assigns (hereinafter called the "Registered Owner"), on _____________* in each of the years, in installments of the respective Maturity Amounts set forth in the following schedule: Year Maturity Amounts Interest Rates (Information from Pricing Certificate to be inserted) The District promises to pay interest on the unpaid principal amount hereof (calculated on the basis of a 360-day year of twelve 30-day months) from _____________* at the respective Interest Rate per annum specified above. Interest is payable on _____________* and * As provided in the Pricing Certificate. To the extent that the Pricing Certificate relating to the Bonds is inconsistent with any provisions in this Form of Bond or contains information to complete the missing information in this Form of Bond, the language in the Pricing Certificate shall be used in the executed Bonds. TCMUD No. 1 Page 205 of 291 Meeting Date: December 20, 2011 23 semiannually on each ___________* and ______________* thereafter to the date of payment of the principal installment specified above; except, that if this Bond is required to be authenticated and the date of its authentication is later than the first Record Date (hereinafter defined), such principal amount shall bear interest from the interest payment date next preceding the date of authentication, unless such date of authentication is after any Record Date but on or before the next following interest payment date, in which case such principal amount shall bear interest from such next following interest payment date; provided, however, that if on the date of authentication hereof the interest on the Bond or Bonds, if any, for which this Bond is being exchanged is due but has not been paid, then this Bond shall bear interest from the date to which such interest has been paid in full." C. The Initial Current Interest Bond shall be numbered "T-1". (ii) The Initial Compound Interest Bond shall be in the form set forth in this Section, except that: A. Immediately under the name of the Bond, the headings "INTEREST RATE" and "MATURITY DATE" shall both be completed with the words "As shown below" and "CUSIP NO. _____" shall be deleted. B. the first paragraph shall be deleted and the following will be inserted: "TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1, in Denton and Tarrant Counties, Texas (the "District"), being a political subdivision of the State of Texas, hereby promises to pay to the Registered Owner set forth above, or registered assigns (hereinafter called the "Registered Owner") the Payment at Maturity on ________* in each of the years and in the principal installments and bearing interest at the per annum rates set : (Information for the Premium Compound Interest Bonds from the Pricing Certificate to be inserted) The amount shown above as the respective Maturity Amounts represent the principal amount hereof and accrued and compounded interest hereon. Interest shall accrue on the principal amount hereof from the Issuance Date at the interest rate per annum specified above, compounded semiannually on ________* and ________* of each year commencing *. For convenience of reference, a table appears on the back of this Bond showing the "Compounded Amount" of the original principal amount plus initial premium, if any, per $5,000 Maturity Amount compounded semiannually at the yield shown on such table." Maturity Date Principal Amount Interest Rates TCMUD No. 1 Page 206 of 291 Meeting Date: December 20, 2011 24 C. the Initial Premium Compound Interest Bond shall be numbered "TPC-1." SECTION 6.02. REGISTRATION OF INITIAL BOND BY STATE COMPTROLLER AND CERTIFICATE. The Initial Bond shall be registered by the Comptroller of Public Accounts of the State of Texas as provided by law. The registration certificate of the Comptroller of Public Accounts of the State of Texas shall be printed on the face of the Initial Bond and shall be in substantially the following form: COMPTROLLER'S REGISTRATION CERTIFICATE: REGISTER NO. I hereby certify that this Bond has been examined, certified as to validity, and approved by the Attorney General of the State of Texas, and that this Bond has been registered by the Comptroller of Public Accounts of the State of Texas. Witness my signature and seal this Comptroller of Public Accounts of the State of Texas (COMPTROLLER'S SEAL) SECTION 6.03. FORM OF AUTHENTICATION CERTIFICATE. The following form of authentication certificate shall be printed on the face of each of the Bonds other than the Initial Bond: PAYING AGENT/REGISTRAR'S AUTHENTICATION CERTIFICATE (To be executed if this Bond is not accompanied by an executed Registration Certificate of the Comptroller of Public Accounts of the State of Texas) It is hereby certified that this Bond has been issued under the provisions of the Bond Order described in the text of this Bond; and that this Bond has been issued in conversion or replacement of, or in exchange for, a Bond, Bonds, or a portion of a Bond or Bonds of a series which originally was approved by the Attorney General of the State of Texas and registered by the Comptroller of Public Accounts of the State of Texas. TCMUD No. 1 Page 207 of 291 Meeting Date: December 20, 2011 25 Dated: ____________________________________ Registrar By Authorized Representative SECTION 6.04. FORM OF ASSIGNMENT. A form of assignment shall be printed on the back of each of the Bonds and shall be in substantially the following form: ASSIGNMENT For value received, the undersigned hereby sells, assigns and transfers unto Please insert Social Security or Taxpayer Identification Number of Transferee (Please print or typewrite name and address, including zip code of Transferee) the within Bond and all rights thereunder, and hereby irrevocably constitutes and appoints ___________________________________________, attorney, to register the transfer of the within Bond on the books kept for registration thereof, with full power of substitution in the premises. Dated: Signature Guaranteed: NOTICE: Signature(s) must be guaranteed by a member firm of the New York Stock Exchange or a commercial bank or trust company. NOTICE: The signature above must correspond with the name of the Registered Owner as it appears upon the front of this Bond in every particular, without alteration or enlargement or any change whatsoever. TCMUD No. 1 Page 208 of 291 Meeting Date: December 20, 2011 26 SECTION 6.05. CUSIP REGISTRATION. The Pricing Officer may secure the printing of identification numbers on the Bonds through the CUSIP Service Bureau. SECTION 6.06. LEGAL OPINION AND BOND INSURANCE. The approving opinion of McCall, Parkhurst & Horton L.L.P. may be printed on the back of the Bonds over the certification of the Secretary of the Board of Directors which may be executed in facsimile. In addition, if any bond insurance is obtained, any statement of insurance may be placed on the Bonds. ARTICLE SEVEN SECURITY OF THE BONDS SECTION 7.01. GENERAL. The Bonds are secured by and payable from the levy of a continuing, direct annual ad valorem tax, without legal limitation as to rate or amount, upon all taxable property within the District. SECTION 7.02. LEVY OF TAX. (a) To pay the interest on the Bonds, and to create a sinking fund for the payment of the principal thereof when due, and to pay the expenses of assessing and collecting such taxes, there is hereby levied, and there shall be assessed and collected in due time, a continuing, direct annual ad valorem tax without limit as to rate or amount on all taxable property in the District for each year while any of the Bonds are outstanding. All of the proceeds of such collections, except expenses incurred in that connection, shall be paid into the Debt Service Fund, and the aforementioned tax and such payments into such fund shall continue until the Bonds and the interest thereon have been fully paid and discharged, and such proceeds shall be used for such purposes and no other. While said Bonds, or any of them, are outstanding and unpaid, an ad valorem tax will be ample and sufficient to provide funds to pay the interest on said Bonds and to provide the necessary sinking fund to pay the principal when due, full allowance being made for delinquencies and costs of collection, together with revenues and receipts from other sources that are legally available for such purpose, shall be levied and collected and applied to the payment of principal and interest on the Bonds, as follows: (1) By September 1 in each year, or as soon thereafter as practicable, the Board shall consider the taxable property in the District and determine the actual rate per $100 valuation of taxable property which is to be levied in that year and levy the tax against all taxable property in the District. (2) In determining the actual rate to be levied in each year, the Board shall consider among other things: (i) the amount which should be levied for maintenance and operation purposes; TCMUD No. 1 Page 209 of 291 Meeting Date: December 20, 2011 27 (ii) the amount which should be levied for the payment of principal, interest, and redemption price of the bonds or notes payable in whole or in part from taxes; (iii) the amount which should be levied for the purpose of paying all other contractual obligations of the District payable in whole or in part from taxes; and (iv) the percentage of anticipated tax collections and the cost of collecting the taxes. (3) In determining the amount of taxes which should be levied each year, the Board shall consider whether proceeds from the sale of Bonds have been placed in the Debt Service Fund to pay interest on the Bonds and whether the Board reasonably expects to have revenue or receipts available from other sources which are legally available to pay debt service on the Bonds. (b) Chapter 1208, Government Code, applies to the issuance of the Bonds and the pledge of ad valorem taxes granted by the District under this Order, and such pledge is therefore valid, effective and perfected. If Texas law is amended at any time while the Bonds are outstanding and unpaid such that the pledge of ad valorem taxes granted by the District under this Order is to be subject to the filing requirements of Chapter 9, Business & Commerce Code, then in order to preserve to the registered owners of the Bonds the perfection of the security interest in said pledge, the District agrees to take such measures as it determines are reasonable and necessary under Texas law to comply with the applicable provisions of Chapter 9, Business & Commerce Code and enable a filing to perfect the security interest in said pledge to occur. SECTION 7.03. PAYMENT OF BONDS AND PERFORMANCE OF OBLIGATIONS. The District covenants to pay promptly the principal of and interest on the Bonds as the same become due and payable, whether at maturity or by prior redemption, in accordance with the terms of the Bonds and this Bond Order, and to keep and perform faithfully all of its covenants, undertakings, and agreements contained in this Bond Order, or in any Bond executed, authenticated, and delivered hereunder. SECTION 7.04. CONSOLIDATION OR DISSOLUTION OF DISTRICT. To the extent provided by law, the pledge of taxes set forth in Section 7.02 will terminate if a city takes over all properties and assets, assumes all debts, liabilities, and obligations, and performs all functions and services of the District, and the District is abolished pursuant to law. The laws of the State of Texas permit the District to be consolidated with one or more conservation and reclamation districts. In the event the District is consolidated with another district or districts, the District reserves the right to: (i) Consolidate the System with a similar system of one or more districts with which the District is consolidating and operate and maintain the systems as one consolidated system (herein for purposes of this section the "Consolidated System"). TCMUD No. 1 Page 210 of 291 Meeting Date: December 20, 2011 28 (ii) Apply the net revenues from the operation of the Consolidated System to the payment of principal, interest, redemption price and bank charges on the revenue bonds or the combination tax and revenue bonds (herein for purposes of this section the "Revenue Bonds") of the District and of the district or districts with which the District is consolidating (herein collectively the "Consolidating Districts") without preference to any series of bonds (except subordinate lien revenue bonds which shall continue to be subordinate to the first lien Revenue Bonds of the Consolidating Districts). (iii) Pledge the net revenues of the Consolidated System to the payment of principal, interest, redemption price and bank charges on Revenue Bonds which may be issued by the Consolidating Districts on a parity with the outstanding first lien Revenue Bonds of the Consolidating Districts. ARTICLE EIGHT FLOW OF FUNDS AND INVESTMENTS SECTION 8.01. FUNDS, FLOW OF FUNDS. The following funds are hereby created: (i) Debt Service Fund for the Bonds; and (ii) Escrow Fund. Each fund shall be kept separate and apart from all other funds of the District. The Debt Service Fund for the Bonds shall constitute a trust fund which shall be held in trust for the benefit of the owners of the Bonds. All other funds shall be trust funds which shall be used solely as provided in this Bond Order until all of the Bonds have been retired, both as to principal and interest. SECTION 8.02. SECURITY OF FUNDS. Any cash balance in any fund, to the extent not insured by the Federal Deposit Insurance Corporation or its successor, shall be continuously secured in the manner provided by law for the security of funds of counties of the State of Texas. SECTION 8.03. DEBT SERVICE FUND; TAX LEVY. The District shall deposit or cause to be deposited into the Debt Service Fund the aggregate of the following at the time specified: (a) As soon as practicable after the Bonds are sold, accrued interest on the Bonds from their date to the date of their delivery; and (b) The proceeds from collection of the ad valorem taxes levied, assessed and collected for and on account of the Bonds pursuant to Section 7.02 hereof, less costs of collection, as collected. TCMUD No. 1 Page 211 of 291 Meeting Date: December 20, 2011 29 On or before the date for payment of the principal and/or Interest Payment Date on the Bonds, the Board of Directors shall cause the transfer of moneys out of the Debt Service Fund to the Registrar in an amount not less than that which is sufficient to pay the principal which matures on such date and the interest which accrues on such date. The District shall pay fees and charges of the Registrar for its services as paying agent and registrar for the Bonds from the Debt Service Fund. SECTION 8.04. ESCROW FUND. The Escrow Fund shall be created and shall be governed by the terms of the Escrow Agreement in substantially the form attached hereto as Exhibit "B" with such changes as approved by the Pricing Officer. SECTION 8.05. INVESTMENTS; EARNINGS. Moneys deposited into the Debt Service Fund and any other fund or funds which the District may lawfully create may be invested or reinvested in Authorized Investments. All investments and any profits realized from and interest accruing on investments made from any fund may be transferred to the Debt Service Fund. If any moneys are so invested, the District shall have the right to have sold in the open market a sufficient amount of such investments to meet its obligations in the event any fund does not have sufficient uninvested funds on hand to meet the obligations payable out of such fund. After such sale the moneys resulting therefrom shall belong to the fund from which the moneys for such investments were initially taken. The District shall not be responsible to the Registered Owners for any loss arising out of the sale of any investments. ARTICLE NINE APPLICATION OF FUNDS SECTION 9.01. BOND PROCEEDS. Proceeds from the sale of the Bonds will be disbursed in accordance with this Article. SECTION 9.02. ACCRUED INTEREST. Moneys received from the Underwriter of the Bonds representing accrued interest, if any, on the Bonds from their date to the date of their actual delivery shall be deposited into the Debt Service Fund. SECTION 9.03. ESCROW FUND. The proceeds from the sale of the Bonds after making the deposit hereinbefore provided and paying or making provisions for the payment of the costs in connection with issuing the Bonds, shall be deposited into the Escrow Fund as described in the Escrow Agreement in substantially the form attached hereto as Exhibit "B" with such changes as approved by the Pricing Officer. ARTICLE TEN PROVISIONS CONCERNING FEDERAL INCOME TAX EXCLUSION SECTION 10.01. COVENANTS REGARDING TAX EXEMPTION OF INTEREST ON THE BONDS. (a) Covenants. The District covenants to take any action TCMUD No. 1 Page 212 of 291 Meeting Date: December 20, 2011 30 necessary to assure, or refrain from any action which would adversely affect, the treatment of the Bonds as obligations described in section 103 of the Internal Revenue Code of 1986, as amended (the "Code"), the interest on which is not includable in the "gross income" of the holder for purposes of federal income taxation. In furtherance thereof, the District covenants as follows: (1) to take any action to assure that no more than 10 percent of the proceeds of the Bonds or the Refunded Bonds or the projects financed or refinanced therewith (less amounts deposited to a reserve fund, if any) are used for any "private business use," as defined in section 141(b)(6) of the Code or, if more than 10 percent of the proceeds of the Bonds or the Refunded Bonds or the projects financed or refinanced therewith are so used, such amounts, whether or not received by the District, with respect to such private business use, do not, under the terms of this Order or any underlying arrangement, directly or indirectly, secure or provide for the payment of more than 10 percent of the debt service on the Bonds, in contravention of section 141(b)(2) of the Code; (2) to take any action to assure that in the event that the "private business use" described in subsection (1) hereof exceeds 5 percent of the proceeds of the Bonds or the Refunded Bonds or the projects financed or refinanced therewith (less amounts deposited into a reserve fund, if any) then the amount in excess of 5 percent is used for a "private business use" which is "related" and not "disproportionate," within the meaning of section 141(b)(3) of the Code, to the governmental use; (3) to take any action to assure that no amount which is greater than the lesser of $5,000,000, or 5 percent of the proceeds of the Bonds (less amounts deposited into a reserve fund, if any) is directly or indirectly used to finance loans to persons, other than state or local governmental units, in contravention of section 141(c) of the Code; (4) to refrain from taking any action which would otherwise result in the Bonds being treated as "private activity bonds" within the meaning of section 141(b) of the Code; (5) to refrain from taking any action that would result in the Bonds being "federally guaranteed" within the meaning of section 149(b) of the Code; (6) to refrain from using any portion of the proceeds of the Bonds, directly or indirectly, to acquire or to replace funds which were used, directly or indirectly, to acquire investment property (as defined in section 148(b)(2) of the Code) which produces a materially higher yield over the term of the Bonds, other than investment property acquired with -- (A) proceeds of the Bonds invested for a reasonable temporary period of 3 years or less or, in the case of a current refunding bond, for a period of 90 days and in the case of an advance refunding bond, for a period of 30 days, (B) amounts invested in a bona fide debt service fund, within the meaning of section l.148-1(b) of the Treasury Regulations, and TCMUD No. 1 Page 213 of 291 Meeting Date: December 20, 2011 31 (C) amounts deposited in any reasonably required reserve or replacement fund to the extent such amounts do not exceed 10 percent of the proceeds of the Bonds; (7) to otherwise restrict the use of the proceeds of the Bonds or amounts treated as proceeds of the Bonds, as may be necessary, so that the Bonds do not otherwise contravene the requirements of section 148 of the Code (relating to arbitrage) and, to the extent applicable, section 149(d) of the Code (relating to advance refundings); and (8) to pay to the United States of America at least once during each five-year period (beginning on the date of delivery of the Bonds) an amount that is at least equal to 90 percent of the "Excess Earnings," within the meaning of section 148(f) of the Code and to pay to the United States of America, not later than 60 days after the Bonds have been paid in full, 100 percent of the amount then required to be paid as a result of Excess Earnings under section 148(f) of the Code. (b) Rebate Fund. In order to facilitate compliance with the above covenant (8), a "Rebate Fund" is hereby established by the District for the sole benefit of the United States of America, and such fund shall not be subject to the claim of any other person, including without limitation the bondholders. The Rebate Fund is established for the additional purpose of compliance with section 148 of the Code. (c) Proceeds. The District understands that the term "proceeds" includes "disposition proceeds" as defined in the Treasury Regulations and, in the case of refunding bonds, transferred proceeds (if any) and proceeds of the Refunded Bonds expended prior to the date of issuance of the Bonds. It is the understanding of the District that the covenants contained herein are intended to assure compliance with the Code and any regulations or rulings promulgated by the U.S. Department of the Treasury pursuant thereto. In the event that regulations or rulings are hereafter promulgated which modify or expand provisions of the Code, as applicable to the Bonds, the District will not be required to comply with any covenant contained herein to the extent that such failure to comply, in the opinion of nationally recognized bond counsel, will not adversely affect the exemption from federal income taxation of interest on the Bonds under section 103 of the Code. In the event that regulations or rulings are hereafter promulgated which impose additional requirements which are applicable to the Bonds, the District agrees to comply with the additional requirements to the extent necessary, in the opinion of nationally recognized bond counsel, to preserve the exemption from federal income taxation of interest on the Bonds under section 103 of the Code. In furtherance of such intention, the District hereby authorizes and directs the President or Treasurer of the Board of Directors to execute any documents, certificates or reports required by the Code and to make such elections, on behalf of the District, which may be permitted by the Code as are consistent with the purpose for the issuance of the Bonds. (d) Disposition of Project. The District covenants that the property constituting the projects refinanced with the proceeds of the Bonds will not be sold or otherwise disposed in a transaction resulting in the receipt by the District of cash or other compensation, unless the District obtains an opinion of nationally-recognized bond counsel that such sale or other disposition will not adversely affect the tax-exempt status of the Bonds. For purposes of the TCMUD No. 1 Page 214 of 291 Meeting Date: December 20, 2011 32 foregoing, the portion of the property comprising personal property and disposed in the ordinary course shall not be treated as a transaction resulting in the receipt of cash or other compensation. For purposes hereof, the District shall not be obligated to comply with this covenant if it obtains an opinion that such failure to comply will not adversely affect the excludability for federal income tax purposes from gross income of the interest. (e) Designation as Qualified Tax-Exempt Bonds. The District hereby designates the Bonds as "qualified tax-exempt bonds" as defined in section 265(b)(3) of the Code. In furtherance of such designation, the District represents, covenants and warrants the following: (a) that during the calendar year in which the Bonds are issued, the District (including any subordinate entities) has not designated nor will designate bonds, which when aggregated with the Bonds, will result in more than $10,000,000 of "qualified tax-exempt bonds" being issued; (b) that the District reasonably anticipates that the amount of tax-exempt obligations issued, during the calendar year in which the Bonds are issued, by the District (or any subordinate entities) will not exceed $10,000,000; and, (c) that the District will take such action or refrain from such action as necessary, and as more particularly set forth in this Section, in order that the Bonds will not be considered "private activity bonds" within the meaning of section 141 of the Code. (f) Written Procedures. Unless superseded by another action of the District, to ensure compliance with the covenants contained in this Order regarding private business use, remedial actions, arbitrage and rebate, the District hereby adopts and establishes the instructions attached hereto as Exhibit "E" as its written procedures. ARTICLE ELEVEN ADDITIONAL BONDS AND REFUNDING BONDS SECTION 11.01. ADDITIONAL BONDS. The District expressly reserves the right to issue, in one or more installments, for the purpose of purchasing, constructing, acquiring, owning, operating, maintaining, repairing, improving, or extending the System, or for any other lawful purpose: (a) the unissued unlimited tax bonds which remain authorized but unissued; and (b) such other unlimited tax bonds as may hereafter be authorized at subsequent elections. SECTION 11.02. OTHER BONDS. The District further reserves the right to issue combination unlimited tax and revenue bonds, if authorized by election, and such other bonds or other obligations as may be lawfully issued by the District including any obligations issued for special projects or defined areas. SECTION 11.03. REFUNDING BONDS. The District further reserves the right to issue refunding bonds in any manner permitted by law to refund the Bonds, the Outstanding TCMUD No. 1 Page 215 of 291 Meeting Date: December 20, 2011 33 Bonds, any Additional Bonds, or any other bonds issued by the District, at or prior to their respective dates of maturity or redemption. ARTICLE TWELVE DEFAULT PROVISIONS SECTION 12.01. REMEDIES IN EVENT OF DEFAULT. (a) Events of Default. Each of the following occurrences or events for the purpose of this Order is hereby declared to be an Event of Default: (i) the failure to make payment of the principal of or interest on any of the Bonds when the same becomes due and payable; or (ii) default in the performance or observance of any other covenant, agreement or obligation of the District, the failure to perform which materially, adversely affects the rights of the Registered Owners of the Bonds, including, but not limited to, their prospect or ability to be repaid in accordance with this Order, and the continuation thereof for a period of 60 days after notice of such default is given by any Registered Owner to the District. (b) Remedies for Default. (i) Upon the happening of any Event of Default, then and in every case, any Registered Owner or an authorized representative thereof, including, but not limited to, a trustee or trustees therefor, may proceed against the District, or any official, officer or employee of the District in their official capacity, for the purpose of protecting and enforcing the rights of the Registered Owners under this Order, by mandamus or other suit, action or special proceeding in equity or at law, in any court of competent jurisdiction, for any relief permitted by law, including the specific performance of any covenant or agreement contained herein, or thereby to enjoin any act or thing that may be unlawful or in violation of any right of the Registered Owners hereunder or any combination of such remedies. (ii) It is provided that all such proceedings shall be instituted and maintained for the equal benefit of all Registered Owners of Bonds then outstanding. (c) Remedies Not Exclusive. (i) No remedy herein conferred or reserved is intended to be exclusive of any other available remedy or remedies, but each and every such remedy shall be cumulative and shall be in addition to every other remedy given hereunder or under the Bonds or now or hereafter existing at law or in equity; provided, however, that notwithstanding any other provision of this Order, the right to accelerate the debt evidenced by the Bonds shall not be available as a remedy under this Order. (ii) The exercise of any remedy herein conferred or reserved shall not be deemed a waiver of any other available remedy. TCMUD No. 1 Page 216 of 291 Meeting Date: December 20, 2011 34 (iii) By accepting the delivery of a Bond authorized under this Order, such Registered Owner agrees that the certifications required to effectuate any covenants or representations contained in this Order do not and shall never constitute or give rise to a personal or pecuniary liability or charge against the officers, employees or trustees of the District or the Board of Directors. (iv) None of the members of the Board of Directors, nor any other official or officer, agent, or employee of the District, shall be charged personally by the Registered Owners with any liability, or be held personally liable to the Registered Owners under any term or provision of this Order, or because of any Event of Default or alleged Event of Default under this Order. SECTION 12.02. BOND ORDER IS CONTRACT. In consideration of the purchase and acceptance of the Bonds authorized to be issued hereunder by the Registered Owners, the provisions of this Bond Order shall be deemed to be and shall constitute a contract between the District and the Registered Owners; and the covenants and agreements herein set forth to be performed on behalf of the District shall be for the equal benefit, protection, and security of each of the Registered Owners. The Bonds, regardless of the time or times of their issue or maturity, shall be of equal rank without preference, priority, or distinction of any Bond over any other, except as expressly provided herein. ARTICLE THIRTEEN DISCHARGE BY DEPOSIT SECTION 13.01. DEFEASANCE OF BONDS. (a) Any Bond and the interest thereon shall be deemed to be paid, retired and no longer outstanding (a "Defeased Bond") within the meaning of this Order, except to the extent provided in subsections (c) and (e) of this Section, when payment of the principal of such Bond, plus interest thereon to the due date or dates (whether such due date or dates be by reason of maturity, upon redemption, or otherwise) either (i) shall have been made or caused to be made in accordance with the terms thereof (including the giving of any required notice of redemption) or (ii) shall have been provided for on or before such due date by irrevocably depositing with or making available to the Paying Agent/Registrar or a commercial bank or trust company for such payment (1) lawful money of the United States of America sufficient to make such payment, (2) Defeasance Securities, certified by an independent public accounting firm of national reputation to mature as to principal and interest in such amounts and at such times as will ensure the availability, without reinvestment, of sufficient money to provide for such payment and when proper arrangements have been made by the District with the Paying Agent/Registrar or a commercial bank or trust company for the payment of its services until all Defeased Bonds shall have become due and payable or (3) any combination of (1) and (2). At such time as a Bond shall be deemed to be a Defeased Bond hereunder, as aforesaid, such Bond and the interest thereon shall no longer be secured by, payable from, or entitled to the benefits of, the ad valorem taxes herein levied as provided in this Order, and such principal and interest shall be payable solely from such money or Defeasance Securities. TCMUD No. 1 Page 217 of 291 Meeting Date: December 20, 2011 35 (b) The deposit under clause (ii) of subsection (a) shall be deemed a payment of a Bond as aforesaid when proper notice of redemption of such Bonds shall have been given, in accordance with this Order. Any money so deposited with the Paying Agent/Registrar or a commercial bank or trust company as provided in this Section may at the discretion of the Board of Directors also be invested in Defeasance Securities, maturing in the amounts and at the times as hereinbefore set forth, and all income from all Defeasance Securities in possession of the Paying Agent/Registrar or a commercial bank or trust company pursuant to this Section which is not required for the payment of such Bond and Premium Compound Interest Bond, if any, and interest thereon with respect to which such money has been so deposited, shall be turned over to the Board of Directors. (c) Notwithstanding any provision of any other Section of this Order which may be contrary to the provisions of this Section, all money or Defeasance Securities set aside and held in trust pursuant to the provisions of this Section for the payment of principal of the Bonds and premium, if any, and interest thereon, shall be applied to and used solely for the payment of the particular Bonds and premium, if any, and interest thereon, with respect to which such money or Defeasance Securities have been so set aside in trust. Until all Defeased Bonds shall have become due and payable, the Paying Agent/Registrar shall perform the services of Paying Agent/Registrar for such Defeased Bonds the same as if they had not been defeased, and the District shall make proper arrangements to provide and pay for such services as required by this Order. (d) Notwithstanding anything elsewhere in this Order, if money or Defeasance Securities have been deposited or set aside with the Paying Agent/Registrar or a commercial bank or trust company pursuant to this Section for the payment of Bonds and such Bonds shall not have in fact been actually paid in full, no amendment of the provisions of this Section shall be made without the consent of the registered owner of each Bond affected thereby. (e) Notwithstanding the provisions of subsection (a) immediately above, to the extent that, upon the defeasance of any Defeased Bond to be paid at its maturity, the District retains the right under Texas law to later call that Defeased Bond for redemption in accordance with the provisions of the order authorizing its issuance, the District may call such Defeased Bond for redemption upon complying with the provisions of Texas law and upon the satisfaction of the provisions of subsection (a) immediately above with respect to such Defeased Bond as though it was being defeased at the time of the exercise of the option to redeem the Defeased Bond and the effect of the redemption is taken into account in determining the sufficiency of the provisions made for the payment of the Defeased Bond. ARTICLE FOURTEEN MISCELLANEOUS PROVISIONS SECTION 14.01. DISTRICT'S SUCCESSORS AND ASSIGNS. Whenever in this Bond Order the District is named and referred to, it shall be deemed to include its successors and assigns, and all covenants and agreements in this Bond Order by or on behalf of the District, TCMUD No. 1 Page 218 of 291 Meeting Date: December 20, 2011 36 except as otherwise provided herein, shall bind and inure to the benefit of its successors and assigns whether or not so expressed. SECTION 14.02. NO RECOURSE AGAINST DISTRICT OFFICERS OR DIRECTORS. No recourse shall be had for the payment of the principal of or interest on the Bonds or for any claim based thereon or on this Bond Order against any officer or director of the District or any person executing the Bonds. SECTION 14.03. REGISTRAR. The Registrar shall act as agent for the payment of principal of and interest on the Bonds and shall maintain the Register for the Bonds, all in accordance with the terms of this Bond Order. If the Registrar or its successor becomes unable for any reason to act as Registrar hereunder, or if the Board of Directors of the District determines that a successor Registrar should be appointed, a successor Registrar shall be selected by the District. Any successor Registrar shall be either a bank, trust company, financial institution, or other entity duly qualified and legally authorized to serve and perform the duties as paying agent and registrar for the Bonds. SECTION 14.04. REGISTRAR MAY OWN BONDS. The Registrar, in its individual or any other capacity, may become the owner or pledgee of the Bonds with the same rights it would have if it were not Registrar. SECTION 14.05. BENEFITS OF ORDER PROVISIONS. Nothing in this Bond Order or in the Bonds, expressed or implied, shall give or be construed to give any person, firm, or corporation, other than the District, the Registrar, and the Registered Owners, any legal or equitable right or claim under or in respect of this Bond Order, or under any covenant, condition, or provision herein contained, all the covenants, conditions, and provisions contained in this Bond Order or in the Bonds being for the sole benefit of the District, the Registrar, and the Registered Owners. SECTION 14.06. UNAVAILABILITY OF AUTHORIZED PUBLICATION. If, because of the temporary or permanent suspension of any newspaper, journal, or other publication, or for any reason, publication of notice cannot be made meeting any requirements herein established, any notice required to be published by the provisions of this Bond Order shall be given in such other manner and at such time or times as in the judgment of the District shall most effectively approximate such required publication, and the giving of such notice in such manner shall for all purposes of this Bond Order be deemed to be in compliance with the requirements for publication thereof. SECTION 14.07. SEVERABILITY CLAUSE. If any word, phrase, clause, sentence, paragraph, section, or other part of this Bond Order, or the application thereof to any person or circumstance, shall ever be held to be invalid or unconstitutional by any court of competent jurisdiction, the remainder of this Bond Order and the application of such word, phrase, clause, sentence, paragraph, section, or other part of this Bond Order to any other persons or circumstances shall not be affected thereby. TCMUD No. 1 Page 219 of 291 Meeting Date: December 20, 2011 37 SECTION 14.08. ACCOUNTING. The District will keep proper records and accounts regarding the levy and collection of taxes, which records and accounts will be made available to any Registered Owner on reasonable request. Each year while any of the Bonds are outstanding, the District shall have an audit of its books and accounts by a certified public accountant or firm of certified public accountants, based on its Fiscal year, and copies of such audits will be made available to any Registered Owner upon request. SECTION 14.09. FURTHER PROCEEDINGS. The President and Secretary of the Board of Directors and other appropriate officials of the District are hereby authorized and directed to do any and all things necessary and/or convenient to carry out the terms of this Bond Order. ARTICLE FIFTEEN SALE AND DELIVERY OF BONDS AND APPROVAL OF DOCUMENTS SECTION 15.01. SALE OF BONDS. The Bonds shall be sold and delivered, pursuant to a purchase agreement at a price and under the terms set forth in the Pricing Certificate. The Pricing Officer is authorized to approve such changes to the purchase agreement as necessary in connection with the sale of the Bonds including Sections 15.03 and 19.01. SECTION 15.02. APPROVAL, REGISTRATION, AND DELIVERY. The President of the Board of Directors of the District and representatives of McCall, Parkhurst & Horton L.L.P. are hereby authorized and directed to submit the Initial Bond and a transcript of the proceedings relating to the issuance of the Bonds to the Attorney General of the State of Texas for approval and, following said approval, to submit the Initial Bond to the Comptroller of Public Accounts of the State of Texas for registration. Upon registration of the Initial Bond, the Comptroller of Public Accounts (or a deputy designated in writing to act for the Comptroller) shall manually sign the Comptroller's registration certificate prescribed herein to be printed and endorsed on the Initial Bond, and the seal of the Comptroller shall be impressed or placed in facsimile on the Initial Bond. After the Initial Bond has been registered, signed, and sealed by the Comptroller, it shall be delivered to the Underwriter, but only upon receipt of the full purchase price. SECTION 15.03 APPROVAL OF OFFERING DOCUMENTS, PAYING AGENT/REGISTRAR AGREEMENT AND ESCROW AGREEMENT The Pricing Officer is hereby authorized to approve the Preliminary Official Statement, the Official Statement relating to the Bonds and any addenda, supplement or amendment thereto and to deem such documents final in accordance with Rule 15c2-12. The District further approves the distribution of such Official Statement in the reoffering of the Bonds by the Underwriter in final form, with such changes therein or additions thereto as the Pricing Officer executing the same may deem advisable, such determination to be conclusively evidenced by his execution thereof. The Paying Agent/Registrar Agreement by and between the District and the Paying Agent/Registrar ("Paying Agent Agreement") in substantially the form and substance attached TCMUD No. 1 Page 220 of 291 Meeting Date: December 20, 2011 38 hereto as Exhibit "A" is hereby approved and the Pricing Officer is hereby authorized and directed to complete, amend, modify and execute the Paying Agent Agreement as necessary. The Escrow Agreement by and between the District and the Escrow Agent ("Escrow Agreement") in substantially the form and substance attached hereto as Exhibit "B" is hereby approved, and the Pricing Officer is hereby authorized to complete, amend, modify and execute the Escrow Agreement, as necessary. The President, Vice President, Treasurer, the Secretary or Assistant Secretary are each hereby authorized to take such action as may be necessary to cause the purchase and delivery of the federal securities to be acquired and deposited to the credit of the escrow fund created by the Escrow Agreement. SECTION 15.04. REFUNDING OF REFUNDED BONDS. Concurrently with the delivery of the Bonds, the Pricing Officer shall cause to be deposited an amount from the proceeds of the sale of the Bonds with the Escrow Agent sufficient, together with other legally available funds of the District, to provide for the refunding and defeasance of the Refunded Bonds, which are hereby called for redemption on the date determined by the Pricing Officer in the Pricing Certificate. The Pricing Officer is further authorized and directed to apply and there is hereby appropriated such moneys of the District as are necessary to fund the Escrow Fund to be established by the Escrow Agreement with amounts sufficient to provide for the defeasance of the Refunded Bonds on the date of delivery of the Bonds. The Pricing Officer is hereby authorized and directed to issue to the Escrow Agent Notice of Redemption with respect to the Refunded Bonds in substantially the form set forth in Exhibit "C" hereto with such changes and additions as necessary to conform to the Pricing Certificate. ARTICLE SIXTEEN OPEN MEETING AND EFFECTIVE DATE SECTION 16.01. OPEN MEETING. The Board of Directors officially finds, determines, and declares that this Bond Order was reviewed, carefully considered, and adopted at a meeting of the Board, and that a sufficient written notice of the date, hour, place, and subject of this meeting was posted as required by the Open Meetings Act, Chapter 551, Texas Government Code, as amended, and that this meeting has been open to the public as required by law at all times during which this Bond Order and the subject matter hereof has been discussed, considered, and acted upon. The Board of Directors further ratifies, approves and confirms such written notice and the contents and posting thereof. SECTION 16.02. EFFECTIVE DATE OF BOND ORDER. This Bond Order shall take effect and be in full force and effect upon and after its passage. ARTICLE SEVENTEEN AMENDMENTS TCMUD No. 1 Page 221 of 291 Meeting Date: December 20, 2011 39 SECTION 17.01. AMENDMENTS. (a) Amendment with Consent of Owners of Majority of Bonds. The owners of a majority in aggregate principal amount of then outstanding Bonds shall have the right from time to time to approve any amendment to this Bond Order which may be deemed necessary or desirable by the District; provided however, that, other than as permitted by subsection (f) of this Section 17.01, nothing herein contained shall permit or be construed to permit the amendment, without the consent of the owner of each of the outstanding Bonds affected thereby, of the terms and conditions of this Bond Order or the Bonds so as to: (1) change debt service requirements, interest payment dates or the maturity or maturities of the outstanding Bonds; (2) reduce the rate of interest borne by any of the outstanding Bonds; (3) reduce the amount of the principal of, redemption premium, if any, or interest on the outstanding Bonds or impose any conditions with respect to such payments; (4) modify the terms of payment of principal of, redemption premium, if any, or interest on the outstanding Bonds, or impose any conditions with respect to such payments; (5) affect the right of the Registered Owners of less than all of the Bonds then outstanding; or (6) decrease the minimum percentage of the principal amount of Bonds necessary for consent to any such amendment. (b) Notice of Amendment. If at any time the District shall desire to amend this Bond Order it may cause a written notice of the proposed amendment to be published at least once on a business day in a financial newspaper, journal, or publication of general circulation in the City of New York, New York, or in the State of Texas. If, because of temporary or permanent suspension of the publication or general circulation of all such newspapers, journals, or publications, it is impossible or impractical to publish such notice in the manner provided herein, then such publication in lieu thereof as shall be made by the Registrar shall constitute a sufficient publication of notice. In addition to such publication, the Registrar shall cause a written notice of the proposed amendment to be given by registered or certified mail to Registered Owners of the Bonds as shown on the Registration Books maintained by the Registrar; provided, however, that failure to receive such written notice of the proposed amendment, or any defect therein or in the mailing thereof, shall not affect the validity of any proceeding in connection with, or the adoption of, such amendment. Such notice shall briefly set forth the nature of the proposed amendment and shall state that a copy thereof is on file at the principal office of the Registrar for inspection by all Registered Owners of Bonds. (c) Consent to Amendment. Whenever at any time not less than 30 days, and within one year, from the date of the first publication of said notice or other services of written notice the District shall receive an instrument or instruments executed by the Registered Owners of at least 51% in aggregate principal amount of all Bonds then outstanding, which instrument or instruments shall refer to the proposed amendment described in said notice and shall specifically TCMUD No. 1 Page 222 of 291 Meeting Date: December 20, 2011 40 consent to and approve such amendment, the District may adopt the amendatory resolution or order in substantially the same form. (d) Effect of Amendment. Upon the adoption of any amendatory resolution or order pursuant to the provisions of this Section, this Bond Order shall be deemed to be amended in accordance with such amendatory resolution or order, and the respective rights, duties, and obligations under such amendatory resolution or order of all the Registered Owners shall thereafter be determined and exercised subject in all respects to such amendments. (e) Consent of Registered Owners. Any consent given by a Registered Owners pursuant to the provisions of this Section shall be irrevocable for a period of six months from the date of the first publication of the notice provided for in this Section, and shall be conclusive and binding upon all future owners of the Bonds during such period. Such consent may be revoked by the Registered Owner who gave such consent at any time after six months from the date of the first giving of such notice, or by a successor in title, by filing notice thereof with the Registrar and the District, but such revocation shall not be effective if the Registered Owners of 51% in aggregate principal amount of the then outstanding Bonds have, prior to the attempted revocation, consented to and approved the amendment. (f) Amendments Without Consent. Notwithstanding the provisions of (a) through (f) of this Section, and without notice of the proposed amendment and without the consent of the Registered Owners. The District may, at any time, amend this Bond Order to cure any ambiguity or to cure, correct, or supplement any defective or inconsistent provision contained therein, or to make any other change that does not in any respect materially and adversely affect the interest of the Registered Owners, provided that no such amendment shall be made contrary to the provision to Section 17.01 (a), and a duly certified or executed copy of each such amendment shall be filed with the Registrar. ARTICLE EIGHTEEN OTHER ACTIONS AND MATTERS SECTION 18.01. OTHER ACTIONS. The President, Vice President, Treasurer, Secretary and Assistant Secretary of the Board of Directors of the District, and all other officers, employees and agents of the District, and each of them, shall be and they are hereby expressly authorized, empowered and directed from time to time and at any time to do and perform all such acts and things and to execute, acknowledge and deliver in the name and under the corporate seal and on behalf of the District all instruments as may be necessary or desirable in order to carry out the terms and provisions of this Bond Order, the Bonds, the initial sale and delivery of the Bonds, the Paying Agent/Registrar Agreement, the Escrow Agreement any insurance commitment letter or insurance policy and the Official Statement. In addition, prior to the initial delivery of the Bonds, President, Vice President or Treasurer and Secretary of the Board of Directors of the District, the District's Attorney and Bond Counsel are hereby authorized and directed to approve any technical changes or corrections to this Order or to any of the instruments authorized and approved by this Order necessary in order to (i) correct any ambiguity or mistake or properly or more completely document the transactions contemplated TCMUD No. 1 Page 223 of 291 Meeting Date: December 20, 2011 41 and approved by this Ordinance and as described in the Official Statement, (ii) obtain a rating from any of the national bond rating agencies or satisfy requirements of the Bond Insurer, or (iii) obtain the approval of the Bonds by the Texas Attorney General's office. SECTION 18.02. ADDITIONAL BOND INSURANCE PROVISIONS. The Pricing Officer is authorized to determine whether the Bonds sell with bond insurance and any provisions related to such insurance as evidenced in the Pricing Certificate in accordance with Section 1207.007(b)(5) of the Texas Government Code, as amended. Bond Counsel is authorized to insert any necessary provisions required by the Bond Insurer and agreed to by the District. SECTION 18.03. PAYMENT OF ATTORNEY GENERAL FEE. The District hereby authorizes the disbursement of a fee equal to the lesser of (i) one-tenth of one percent of the principal amount of the Bonds or (ii) $9,500, provided that such fee shall not be less than $750, to the Attorney General of Texas Public Finance Division for payment of the examination fee charged by the State of Texas for the Attorney General's review and approval of public securities and credit agreements, as required by Section 1202.004 of the Texas Government Code. The appropriate member of the District's staff is hereby instructed to take the necessary measures to make this payment. The District is also authorized to reimburse the appropriate District funds for such payment from proceeds of the Bonds. TCMUD No. 1 Page 224 of 291 Meeting Date: December 20, 2011 42 ARTICLE NINETEEN CONTINUING DISCLOSURE SECTION 19.01. CONTINUING DISCLOSURE UNDERTAKING. (a) Annual Reports. The District shall provide annually to the MSRB, in an electronic format as prescribed by the MSRB, within six months after the end of any fiscal year, financial information and operating data with respect to the District of the general type included in the final Official Statement authorized by Section 15.03 of this Order, being the information described in the Pricing Certificate. Any financial statements to be so provided shall be (1) prepared in accordance with the accounting principles described in Exhibit "D" hereto, or such other accounting principles as the District may be required to employ from time to time pursuant to state law or regulation, and (2) audited, if the District commissions an audit of such statements and the audit is completed within the period during which they must be provided. If the audit of such financial statements is not complete within such period, then the District shall provide unaudited financial statements within such period, and audited financial statements for the applicable fiscal year to the MSRB, when and if the audit report on such statements become available. If the District changes the fiscal year, the District will notify the MSRB of the change (and of the date of the new fiscal year end) prior to the next date by which the District otherwise would be required to provide financial information and operating data pursuant to this Section. The financial information and operating data to be provided pursuant to this subsection may be set forth in full in one or more documents or may be included by specific reference to any document that is available to the public on the MSRB's internet web site or filed with the SEC. All documents provided to the MSRB pursuant to this subsection shall be accompanied by identifying information as prescribed by the MSRB. (b) Material Event Notices. The District shall notify the MSRB, in an electronic format as prescribed by the MSRB, in a timely manner not in excess of ten business days after the occurrence of the event, of any of the following events with respect to the Bonds: A. Principal and interest payment delinquencies; B. Non-payment related defaults, if material within the meaning of the federal securities laws; C. Unscheduled draws on debt service reserves reflecting financial difficulties; D. Unscheduled draws on credit enhancements reflecting financial difficulties; E. Substitution of credit or liquidity providers, or their failure to perform; F. Adverse tax opinions, the issuance by the Internal Revenue Service of proposed or final determinations of taxability, Notices of Proposed Issue (IRS Form 5701BTEB) or other TCMUD No. 1 Page 225 of 291 Meeting Date: December 20, 2011 43 material notices or determinations with respect to the tax-exempt status of the Bonds, or other events affecting the tax-exempt status of the Bonds; G. Modifications to rights of holders of the Bonds, if material within the meaning of the federal securities laws; H. Bond calls, if material within the meaning of the federal securities laws; I. Defeasances; J. Release, substitution, or sale of property securing repayment of the Bonds, if material within the meaning of the federal securities laws; K. Rating changes; L. Bankruptcy, insolvency, receivership or similar event of the District; M. The consummation of a merger, consolidation, or acquisition involving the District or the sale of all or substantially all of the assets of the District, other than in the ordinary course of business, the entry into a definitive agreement to undertake such an action or the termination of a definitive agreement relating to any such actions, other than pursuant to its terms, if material within the meaning of the federal securities laws; and N. Appointment of a successor or additional trustee or the change of name of a trustee, if material within the meaning of the federal securities laws. The District shall notify the MSRB, in an electronic format as prescribed by the MSRB, in a timely manner, of any failure by the District to provide financial information or operating data in accordance with this subsection by the time required. All documents provided to the MSRB pursuant to this subsection shall be accompanied by identifying information as prescribed by the MSRB. (c) Limitations, Disclaimers, and Amendments. The District shall be obligated to observe and perform the covenants specified in this Section for so long as, but only for so long as, the District remains an "obligated person" with respect to the Bonds within the meaning of the Rule, except that the District in any event will give the notice required by this Order of any Bond calls and defeasance that cause the Bonds to be no longer outstanding. The provisions of this Section are for the sole benefit of the holders and beneficial owners of the Bonds, and nothing in this Section, express or implied, shall give any benefit or any legal or equitable right, remedy, or claim hereunder to any other person. The District undertakes to provide only the financial information, operating data, financial statements, and notices that it has expressly agreed to provide pursuant to this Section and does not hereby undertake to provide any other information that may be relevant or material to a complete presentation of the District's financial results, condition, or prospects relating to the System or hereby undertake to update any information provided in accordance with this Section or TCMUD No. 1 Page 226 of 291 Meeting Date: December 20, 2011 44 otherwise, except as expressly provided herein. The District does not make any representation or warranty concerning such information or its usefulness to a decision to invest in or sell Bonds at any future date. UNDER NO CIRCUMSTANCES SHALL THE DISTRICT BE LIABLE TO THE HOLDER OR BENEFICIAL OWNER OF ANY BOND OR ANY OTHER PERSON, IN CONTRACT OR TORT, FOR DAMAGES RESULTING IN WHOLE OR IN PART FROM ANY BREACH BY THE DISTRICT, WHETHER NEGLIGENT OR WITHOUT FAULT ON ITS PART, OF ANY COVENANT SPECIFIED IN THIS SECTION, BUT EVERY RIGHT AND REMEDY OF ANY SUCH PERSON, IN CONTRACT OR TORT, FOR OR ON ACCOUNT OF ANY SUCH BREACH SHALL BE LIMITED TO AN ACTION FOR MANDAMUS OR SPECIFIC PERFORMANCE. No default by the District in observing or performing its obligations under this Section shall constitute a breach of or default under this Order for purposes of any other provision of this Order. Should the Rule be amended to obligate the District to make filings with or provide notices to entities other than the MSRB, the District hereby agrees to undertake such obligation with respect to the Bonds in accordance with the Rule as amended. Nothing in this Section is intended or shall act to disclaim, waive, or otherwise limit the duties of the District under federal and state securities laws. The provisions of this Section may be amended by the District from time to time to adapt to changed circumstances that arise from a change in legal requirements, a change in law, or a change in the identity, nature, status, or type of operations of the District, but only if (1) the provisions of this Section, as so amended, would have permitted an underwriter to purchase or sell Bonds in the primary offering of the Bonds in compliance with the Rule, taking into account any amendments or interpretations of the Rule to the date of such amendment, as well as such changed circumstances, and (2) either (A) the holders of a majority in aggregate principal amount (or any greater amount required by any other provision of this Order that authorizes such an amendment) of the outstanding Bonds consent to such amendment or (B) a person that is unaffiliated with the District (such as nationally recognized bond counsel) determines that such amendment will not materially impair the interests of the holders and beneficial owners of the Bonds. If the District so amends the provisions of this Section, it shall include with any amended financial information or operating data next provided in accordance with this Section an explanation, in narrative form, of the reasons for the amendment and of the impact of any change in the type of financial information or operating data so provided. The District may also amend or repeal the provisions of this continuing disclosure requirement if the SEC amends or repeals the applicable provisions of the Rule or a court of final jurisdiction enters judgment that such provisions of the Rule are invalid, but only if and to the extent that the provisions of this sentence would not prevent an underwriter from lawfully purchasing or selling the Bonds in the primary offering of the Bonds. TCMUD No. 1 Page 227 of 291 Meeting Date: December 20, 2011 TravisCoMUD2\UTRB11\Del: ORDER A-1 EXHIBIT "A" PAYING AGENT/REGISTRAR AGREEMENT TCMUD No. 1 Page 228 of 291 Meeting Date: December 20, 2011 TCMUD2\UTRB\11: PARA PAYING AGENT/REGISTRAR AGREEMENT THIS AGREEMENT entered into as of ___________, 20__ (this "Agreement"), by and between Trophy Club Municipal Utility District No. 1 (the "Issuer"), and The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, a banking corporation duly organized and existing under the laws of the United States of America (the "Bank"). RECITALS WHEREAS, the Issuer has duly authorized and provided for the issuance of its $_____________ Trophy Club Municipal Utility District No. 1 Unlimited Tax Refunding Bonds, Series 20__, (the "Securities"), such Securities to be issued in fully registered form only as to the payment of principal and interest thereon; and WHEREAS, the Securities are scheduled to be delivered to the initial purchasers thereof on or about _____________, 20__; and WHEREAS, the Issuer has selected the Bank to serve as Paying Agent/Registrar in connection with the payment of the principal of, premium, if any, and interest on the Securities and with respect to the registration, transfer and exchange thereof by the registered owners thereof; and WHEREAS, the Bank has agreed to serve in such capacities for and on behalf of the Issuer and has full power and authority to perform and serve as Paying Agent/Registrar for the Securities; NOW, THEREFORE, it is mutually agreed as follows: ARTICLE ONE APPOINTMENT OF BANK AS PAYING AGENT AND REGISTRAR Section 1.01. Appointment. The Issuer hereby appoints the Bank to serve as Paying Agent with respect to the Securities. As Paying Agent for the Securities, the Bank shall be responsible for paying on behalf of the Issuer the principal, premium (if any), and interest on the Securities as the same become due and payable to the registered owners thereof, all in accordance with this Agreement and the "Order" (hereinafter defined). The Issuer hereby appoints the Bank as Registrar with respect to the Securities. As Registrar for the Securities, the Bank shall keep and maintain for and on behalf of the Issuer books and records as to the ownership of the Securities and with respect to the transfer and exchange thereof as provided herein and in the "Order." TCMUD No. 1 Page 229 of 291 Meeting Date: December 20, 2011 TCMUD2\UTRB\11: PARA 2 The Bank hereby accepts its appointment, and agrees to serve as the Paying Agent and Registrar for the Securities. Section 1.02. Compensation. As compensation for the Bank's services as Paying Agent/Registrar, the Issuer hereby agrees to pay the Bank the fees and amounts set forth in Schedule A attached hereto for the first year of this Agreement and thereafter the fees and amounts set forth in the Bank's current fee schedule then in effect for services as Paying Agent/Registrar for political subdivisions, which shall be supplied to the Issuer on or before 90 days prior to the close of the Fiscal Year of the Issuer, and shall be effective upon the first day of the following Fiscal Year. In addition, the Issuer agrees to reimburse the Bank upon its request for all reasonable expenses, disbursements and advances incurred or made by the Bank in accordance with any of the provisions hereof (including the reasonable compensation and the expenses and disbursements of its agents and counsel). ARTICLE TWO DEFINITIONS Section 2.01. Definitions. For all purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires: "Acceleration Date" on any Security means the date on and after which the principal or any or all installments of interest, or both, are due and payable on any Security which has become accelerated pursuant to the terms of the Security. "Bank Office" means the designated office for payment of the Bank as indicated on the signature page hereof. The Bank will notify the Issuer in writing of any change in location of the Bank Office. "Fiscal Year" means the fiscal year of the Issuer, ending September 30. "Holder" and "Security Holder" each means the Person in whose name a Security is registered in the Security Register. "Issuer Request" and "Issuer Order" means a written request or Order signed in the name of the Issuer by an authorized representative, delivered to the Bank. "Legal Holiday" means a day on which the Bank is required or authorized to be closed. "Order" means the Order of the governing body of the Issuer pursuant to which the Securities are issued, certified by the Secretary of the Board or any other officer of the Issuer and delivered to the Bank. TCMUD No. 1 Page 230 of 291 Meeting Date: December 20, 2011 TCMUD2\UTRB\11: PARA 3 "Person" means any individual, corporation, partnership, joint venture, association, joint stock company, trust, unincorporated organization or government or any agency or political subdivision of a government. "Predecessor Securities" of any particular Security means every previous Security evidencing all or a portion of the same obligation as that evidenced by such particular Security (and, for the purposes of this definition, any mutilated, lost, destroyed, or stolen Security for which a replacement Security has been registered and delivered in lieu thereof pursuant to Section 4.06 hereof and the Order). "Redemption Date" when used with respect to any Bond to be redeemed means the date fixed for such redemption pursuant to the terms of the Order. "Responsible Officer" when used with respect to the Bank means the Chairman or Vice- Chairman of the Board of Directors, the Chairman or Vice-chairman of the Executive Committee of the Board of Directors, the President, any Vice President, the Secretary, any Assistant Secretary, the Treasurer, any Assistant Treasurer, the Cashier, any Assistant Cashier, any Trust Officer or Assistant Trust Officer, or any other officer of the Bank customarily performing functions similar to those performed by any of the above designated officers and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of his knowledge of and familiarity with the particular subject. "Security Register" means a register maintained by the Bank on behalf of the Issuer providing for the registration and transfer of the Securities. "Stated Maturity" means the date specified in the Order on which the principal of a Security is scheduled to be due and payable. Section 2.02. Other Definitions. The terms "Bank," Issuer," and "Securities (Security)" have the meanings assigned to them in the recital paragraphs of this Agreement. The term "Paying Agent/Registrar" refers to the Bank in the performance of the duties and functions of this Agreement. ARTICLE THREE PAYING AGENT Section 3.01. Duties of Paying Agent. As Paying Agent, the Bank shall, provided adequate collected funds have been provided to it for such purpose by or on behalf of the Issuer, pay on behalf of the Issuer the principal of TCMUD No. 1 Page 231 of 291 Meeting Date: December 20, 2011 TCMUD2\UTRB\11: PARA 4 each Security at its Stated Maturity, Redemption Date, or Acceleration Date, to the Holder upon surrender of the Security to the Bank at the Bank Office. As Paying Agent, the Bank shall, provided adequate collected funds have been provided to it for such purpose by or on behalf of the Issuer, pay on behalf of the Issuer the interest on each Security when due, by computing the amount of interest to be paid each Holder and preparing and sending checks by United States Mail, first-class postage prepaid, on each payment date, to the Holders of the Securities (or their Predecessor Securities) on the respective Record Date, to the address appearing on the Security Register or by such other method, acceptable to the Bank, requested in writing by the Holder at the Holder's risk and expense. Principal and interest payments made pursuant to this Section 3.01 shall be made by wire transfer. Section 3.02. Payment Dates. The Issuer hereby instructs the Bank to pay the principal of and interest on the Securities on the dates specified in the Order. Section 3.03 Reporting Requirements. To the extent required by the Internal Revenue Code of 1986, as amended, or the Treasury Regulations, the Bank shall report to or cause to be reported to the Holders and the Internal Revenue Service the amount of interest paid or the amount treated as interest accrued on the Securities which is required to be reported by the Holders on their returns of federal income tax. ARTICLE FOUR REGISTRAR Section 4.01. Security Register - Transfers and Exchanges. The Bank agrees to keep and maintain for and on behalf of the Issuer at the Bank Office books and records (herein sometimes referred to as the "Security Register"), and, if the Bank Office is located outside the State of Texas, a copy of such books and records shall be kept in the State of Texas, for recording the names and addresses of the Holders of the Securities, the transfer, exchange and replacement of the Securities and the payment of the principal of and interest on the Securities to the Holders and containing such other information as may be reasonably required by the Issuer and subject to such reasonable regulations as the Issuer and the Bank may prescribe. The Bank also agrees to keep a copy of the Security Register within the State of Texas. All transfers, exchanges and replacement of Securities shall be noted in the Security Register. Every Security surrendered for transfer or exchange shall be duly endorsed or be accompanied by a written instrument of transfer, the signature on which has been guaranteed by an officer of a federal or state bank or a member of the National Association of Securities TCMUD No. 1 Page 232 of 291 Meeting Date: December 20, 2011 TCMUD2\UTRB\11: PARA 5 Dealers, in form satisfactory to the Bank, duly executed by the Holder thereof or his agent duly authorized in writing. The Bank may request any supporting documentation it feels necessary to effect a re- registration, transfer or exchange of the Securities. To the extent possible and under reasonable circumstances, the Bank agrees that, in relation to an exchange or transfer of Securities, the exchange or transfer by the Holders thereof will be completed and new Securities delivered to the Holder or the assignee of the Holder in not more than three (3) business days after the receipt of the Securities to be cancelled in an exchange or transfer and the written instrument of transfer or request for exchange duly executed by the Holder, or his duly authorized agent, in form and manner satisfactory to the Paying Agent/Registrar. Section 4.02. Certificates. The Issuer shall provide an adequate inventory of printed Securities certificates to facilitate transfers or exchanges thereof. The Bank covenants that the inventory of printed Securities certificates will be kept in safekeeping pending their use, and reasonable care will be exercised by the Bank in maintaining such Securities certificates in safekeeping, which shall be not less than the level of care maintained by the Bank for debt securities of other political subdivisions or corporations for which it serves as registrar, or that it maintains for its own securities. Section 4.03. Form of Security Register. The Bank, as Registrar, will maintain the Security Register relating to the registration, payment, transfer and exchange of the Securities in accordance with the Bank's general practices and procedures in effect from time to time. The Bank shall not be obligated to maintain such Security Register in any form other than those which the Bank has currently available and currently utilizes at the time. The Security Register may be maintained in written form or in any other form capable of being converted into written form within a reasonable time. Section 4.04. List of Security Holders. The Bank will provide the Issuer at any time requested by the Issuer, upon payment of the required fee, a copy of the information contained in the Security Register. The Issuer may also inspect the information contained in the Security Register at any time the Bank is customarily open for business, provided that reasonable time is allowed the Bank to provide an up-to-date listing or to convert the information into written form. The Bank will not release or disclose the contents of the Security Register to any person other than to, or at the written request of, an authorized officer or employee of the Issuer, except upon receipt of a court order or as otherwise required by law. Upon receipt of a court order or TCMUD No. 1 Page 233 of 291 Meeting Date: December 20, 2011 TCMUD2\UTRB\11: PARA 6 other notice of a legal proceeding and prior to the release or disclosure of any of the contents of the Security Register, the Bank will notify the Issuer so that the Issuer may contest the same or such release or disclosure of the contents of the Security Register. Section 4.05. Return of Cancelled Certificates. The Bank will, at such reasonable intervals as it determines, surrender to the Issuer, Securities in lieu of which or in exchange for which other Securities have been issued, or which have been paid. Section 4.06. Mutilated, Destroyed, Lost or Stolen Securities. The Issuer hereby instructs the Bank, subject to the applicable provisions of the Order, to deliver and issue Securities certificates in exchange for or in lieu of mutilated, destroyed, lost, or stolen Securities certificates as long as the same does not result in an overissuance. In case any Security shall be mutilated, or destroyed, lost or stolen, the Bank, in its discretion, may execute and deliver a replacement Security of like form and tenor, and in the same denomination and bearing a number not contemporaneously outstanding, in exchange and substitution for such mutilated Security, or in lieu of and in substitution for such destroyed lost or stolen Security, only after (i) the filing by the Holder thereof with the Bank of evidence satisfactory to the Bank of the destruction, loss or theft of such Security, and of the authenticity of the ownership thereof and (ii) the furnishing to the Bank of indemnification in an amount satisfactory to hold the Issuer and the Bank harmless. All expenses and charges associated with such indemnity and with the preparation, execution and delivery of a replacement Security shall be borne by the Holder of the Security mutilated, or destroyed, lost or stolen. Section 4.07. Transaction Information to Issuer. The Bank will, within a reasonable time after receipt of written request from the Issuer, furnish the Issuer information as to the Securities certificates it has paid pursuant to Section 3.01, Securities certificates it has delivered upon the transfer or exchange of any Securities certificates pursuant to Section 4.01, and Securities certificates it has delivered in exchange for or in lieu of mutilated, destroyed, lost, or stolen Securities certificates pursuant to Section 4.06. ARTICLE FIVE THE BANK Section 5.01. Duties of Bank. The Bank undertakes to perform the duties set forth herein and agrees to use reasonable care in the performance thereof. The Bank is also authorized to transfer funds relating to the closing and initial delivery of the securities in the manner disclosed in the closing memorandum approved by the Issuer as prepared by the Issuer's financial advisor or other agent. The Bank may act on a facsimile TCMUD No. 1 Page 234 of 291 Meeting Date: December 20, 2011 TCMUD2\UTRB\11: PARA 7 transmission of the closing memorandum to be followed by an original of the closing memorandum signed by the financial advisor or the Issuer. Section 5.02. Reliance on Documents, Etc. (a) The Bank may conclusively rely, as to the truth of the statements and correctness of the opinions expressed therein, on certificates or opinions furnished to the Bank by the Issuer. (b) The Bank shall not be liable for any error of judgment made in good faith by a Responsible Officer, unless it shall be proven that the Bank was negligent in ascertaining the pertinent facts. (c) No provisions of this Agreement shall require the Bank to expend or risk its own funds or otherwise incur any financial liability for performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity satisfactory to it against such risks or liability is not assured to it. (d) The Bank may rely and shall be protected in acting or refraining from acting upon any Order, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, note, security, or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties. Without limiting the generality of the foregoing statement, the Bank need not examine the ownership of any Securities, but is protected in acting upon receipt of Securities certificates containing an endorsement or instruction of transfer or power of transfer which appears on its face to be signed by the Holder or an agent of the Holder. The Bank shall not be bound to make any investigation into the facts or matters stated in a Order, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, note, security, or other paper or document supplied by the Issuer. (e) The Bank may consult with legal counsel, and the written advice of such counsel or any opinion of counsel shall be full and complete authorization and protection with respect to any action taken, suffered, or omitted by it hereunder in good faith and in reliance thereon, provided that any such written advice or opinion is supplied to the Issuer by the Bank. (f) The Bank may exercise any of the powers hereunder and perform any duties hereunder either directly or by or through agents or attorneys of the Bank. Section 5.03. Recitals of Issuer. The recitals contained herein with respect to the Issuer and in the Securities shall be taken as the statements of the Issuer, and the Bank assumes no responsibility for their correctness. The Bank shall in no event be liable to the Issuer, any Holder or Holders of any Security, or any other Person for any amount due on any Security from its own funds. TCMUD No. 1 Page 235 of 291 Meeting Date: December 20, 2011 TCMUD2\UTRB\11: PARA 8 Section 5.04. May Hold Securities. The Bank, in its individual or any other capacity, may become the owner or pledgee of Securities and may otherwise deal with the Issuer with the same rights it would have if it were not the Paying Agent/Registrar, or any other agent. Section 5.05. Moneys Held by Bank. The Bank shall deposit any moneys received from the Issuer into a segregated account to be held by the Bank solely for the benefit of the owners of the Securities to be used solely for the payment of the Securities, with such moneys in the account that exceed the deposit insurance available to the Issuer by the Federal Deposit Insurance Corporation, to be fully collateralized with securities or obligations that are eligible under the laws of the State of Texas to secure and be pledged as collateral for such accounts until the principal and interest on such securities have been presented for payment and paid to the owner thereof. Payments made from such account shall be made by check drawn on such account unless the owner of such Securities shall, at its own expense and risk, request such other medium of payment. Subject to the Unclaimed Property Law of the State of Texas, any money deposited with the Bank for the payment of the principal, premium (if any), or interest on any Security and remaining unclaimed for three years after the final maturity of the Security has become due and payable will be paid by the Bank to the Issuer if the Issuer so elects, and the Holder of such Security shall hereafter look only to the Issuer for payment thereof, and all liability of the Bank with respect to such monies shall thereupon cease. If the Issuer does not elect, the Bank is directed to report and dispose of the funds in compliance with Title Six of the Texas Property Code, as amended. Section 5.06. Indemnification. To the extent permitted by law, the Issuer agrees to indemnify the Bank for, and hold it harmless against, any loss, liability, or expense incurred without negligence or bad faith on the Bank's part, arising out of or in connection with the Bank's acceptance or administration of its duties hereunder, including the cost and expense incurred by the Bank in defending against any claim or from liability imposed on the Bank in connection with the Bank's exercise or performance of any of its powers or duties under this Agreement. Section 5.07. Interpleader. The Issuer and the Bank agree that the Bank may seek adjudication of any adverse claim, demand, or controversy over its person as well as funds on deposit, in either a Federal or State District Court located in the Denton or Tarrant County, Texas, and agree that service of process by certified or registered mail, return receipt requested, to the address referred to in Section 6.03 of this Agreement shall constitute adequate service. The Issuer and the Bank further agree that the Bank has the right to file a Bill of Interpleader in any court of competent jurisdiction in Denton or Tarrant County, Texas to determine the rights of any Person claiming any interest herein. TCMUD No. 1 Page 236 of 291 Meeting Date: December 20, 2011 TCMUD2\UTRB\11: PARA 9 Section 5.08. Depository Trust Company Services. It is hereby represented and warranted that, in the event the Securities are otherwise qualified and accepted for "Depository Trust Company" services or equivalent depository trust services by other organizations, the Bank has the capability and, to the extent within its control, will comply with the "Operational Arrangements," effective August 1, 1987, which establishes requirements for securities to be eligible for such type depository trust services, including, but not limited to, requirements for the timeliness of payments and funds availability, transfer turnaround time, and notification of redemptions and calls. Attached hereto is a copy of the Blanket Issuer Letter of Representations between the Issuer and The Depository Trust Company, New York, New York, providing for the Bonds to be issued in a Book-Entry Only System. The Bank and the Issuer hereby confirm their obligations under such Letter of Representation. ARTICLE SIX MISCELLANEOUS PROVISIONS Section 6.01. Amendment. This Agreement may be amended only by an agreement in writing signed by both of the parties hereto. Section 6.02. Assignment. This Agreement may not be assigned by either party without the prior written consent of the other. Section 6.03. Notices. Any request, demand, authorization, direction, notice, consent, waiver, or other document provided or permitted hereby to be given or furnished to the Issuer or the Bank shall be mailed or delivered to the Issuer or the Bank, respectively, at the addresses shown on the signature page of this Agreement. Section 6.04. Effect of Headings. The Article and Section headings herein are for convenience only and shall not affect the construction hereof. Section 6.05. Successors and Assigns. All covenants and agreements herein by the Issuer and the Bank shall bind their respective successors and assigns, whether so expressed or not. TCMUD No. 1 Page 237 of 291 Meeting Date: December 20, 2011 TCMUD2\UTRB\11: PARA 10 Section 6.06. Severability. In case any provision herein shall be invalid, illegal, or unenforceable, the validity, legality, and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. Section 6.07. Benefits of Agreement. Nothing herein, express or implied, shall give to any Person, other than the parties hereto and their successors hereunder, any benefit or any legal or equitable right, remedy, or claim hereunder. Section 6.08. Entire Agreement. This Agreement and the Order constitute the entire agreement between the parties hereto relative to the Bank acting as Paying Agent/Registrar and if any conflict exists between this Agreement and the Order, the Order shall govern. Section 6.09. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original and all of which shall constitute one and the same Agreement. Section 6.10. Termination. This Agreement will terminate (i) on the date of final payment of the principal of and interest on the Securities to the Holders thereof or (ii) may be earlier terminated by either party upon thirty (30) days written notice; provided, however, an early termination of this Agreement by either party shall not be effective until (a) a successor Paying Agent/Registrar has been appointed by the Issuer and such appointment accepted and (b) notice has been given to the Holders of the Securities of the appointment of a successor Paying Agent/Registrar. Furthermore, the Bank and Issuer mutually agree that the effective date of an early termination of this Agreement shall not occur at any time which would disrupt, delay or otherwise adversely affect the payment of the Securities. Upon an early termination of this Agreement, the Bank agrees to promptly transfer and deliver the Security Register (or a copy thereof), together with other pertinent books and records relating to the Securities, to the successor Paying Agent/Registrar designated and appointed by the Issuer. The provisions of Section 1.02, 5.02, 5.03 and 5.06 of this Agreement shall survive and remain in full force and effect following the termination of this Agreement. TCMUD No. 1 Page 238 of 291 Meeting Date: December 20, 2011 TCMUD2\UTRB\11: PARA 11 Section 6.11. Governing Law. This Agreement shall be construed in accordance with and governed by the laws of the State of Texas. [The remainder of this page is intentionally left blank.] TCMUD No. 1 Page 239 of 291 Meeting Date: December 20, 2011 TCMUD2\UTRB\11: PARA PARASigPg IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written. THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A. By:____________________________________ Title:___________________________________ Mailing Address: 2001 Bryan Street, 9th Floor Dallas, Texas 75201 TCMUD No. 1 Page 240 of 291 Meeting Date: December 20, 2011 TCMUD2\UTRB\11: PARA PARASigPg TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1 By: ________________________________ Title: Pricing Officer Address: 100 Municipal Drive Trophy Club, Texas 76262 TCMUD No. 1 Page 241 of 291 Meeting Date: December 20, 2011 TCMUD2\UTRB\11: PARA A-1 SCHEDULE A Paying Agent/Registrar Fee Schedule TCMUD No. 1 Page 242 of 291 Meeting Date: December 20, 2011 TravisCoMUD2\UTRB11\Del: ORDER B-1 EXHIBIT "B" ESCROW AGREEMENT TCMUD No. 1 Page 243 of 291 Meeting Date: December 20, 2011 ESCROW AGREEMENT Trophy Club Municipal Utility District No. 1 Unlimited Tax Refunding Bonds, Series 2012 THIS ESCROW AGREEMENT, dated as of ___________, 2012 (herein, together with any amendments or supplements hereto, called the "Agreement"), entered into by and between Trophy Club Municipal Utility District No. 1 (the "Issuer") and The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as escrow agent (together with any successor in such capacity, the "Escrow Agent"). The addresses of the Issuer and the Escrow Agent are shown on Exhibit A attached hereto and made a part hereof. W I T N E S S E T H: WHEREAS, the Issuer heretofore has issued and there presently remain outstanding the obligations (the "Refunded Obligations") described in the Verification Report of ________________ for the Trophy Club Municipal Utility District No. 2 Unlimited Tax Bonds, Series 2002 (the "Report") relating to the Refunded Obligations, attached hereto as Exhibit B and made a part hereof; and WHEREAS, the Refunded Obligations are scheduled to come due on such dates, bear interest at such rates, and be payable at such times and in such amounts as are set forth in the Report; and WHEREAS, when firm banking arrangements have been made for the payment of all principal, redemption premium, if any, and interest of the Refunded Obligations when due, then the Refunded Obligations shall no longer be regarded as outstanding except for the purpose of receiving payment from the funds provided for such purpose; and WHEREAS, Chapter 1207, Texas Government Code (“Chapter 1207”), authorizes the Issuer to issue refunding bonds and to deposit the proceeds from the sale thereof, and any other available funds or resources, directly with a trust company or commercial bank, and such deposit, if made before such payment dates and in sufficient amounts, shall constitute the making of firm banking and financial arrangements for the discharge and final payment of the Refunded Obligations; and WHEREAS, Chapter 1207 further authorizes the Issuer to enter into an escrow agreement with any such trust company or commercial bank with respect to the safekeeping, investment, administration and disposition of any such deposit, upon such terms and conditions as the Issuer and such trust company or commercial bank may agree, provided that the order pursuant to which the Refunded Obligations were issued require that such deposits may be invested only in (i) non-callable direct obligations of the United States of America, which may be in book entry form, including obligations the principal of and interest on which are unconditionally guaranteed by the United States of America, and/or (ii) non-callable obligations of any state of the United States or of any agency or political subdivision thereof which are then rated by Moody's and S&P in the highest rating category of each such rating agency, and which have been "advance refunded" so that the principal of and interest thereon are payable from and secured by maturing amounts of obligations described in (i) above (collectively, "Governmental TCMUD No. 1 Page 244 of 291 Meeting Date: December 20, 2011 2 Securities"), and which Governmental Securities shall mature and/or bear interest payable at such times and in such amounts as will be sufficient to provide for the scheduled payment of principal, redemption premium, if any, and interest on the Refunded Obligations when due; and WHEREAS, the Escrow Agent is a national banking association organized and existing under the laws of the United States of America possessing trust powers and this Agreement constitutes an escrow agreement of the kind authorized and required by said Chapter 1207; and WHEREAS, Chapter 1207 makes it the duty of the Escrow Agent to comply with the terms of this Agreement and timely to provide for the payment of the principal of, redemption premium, if any, and interest on such obligations when due, and in accordance with their terms, but solely from the funds, in the manner, and to the extent provided in this Agreement; and WHEREAS, the Issuer's Unlimited Tax Refunding Bonds, Series 2012 (the "Refunding Obligations") have been duly authorized to be issued, sold, and delivered for the purpose, among others, of obtaining the funds required to provide for the payment of the principal of, redemption premium, if any, and interest on the Refunded Obligations when due; and WHEREAS, the Issuer intends that, concurrently with the delivery of the Refunding Obligations to the purchasers thereof, certain proceeds of the Refunding Obligations, together with certain other available funds of the Issuer, shall be deposited into the Escrow Fund created in this Agreement in the amount sufficient to pay the principal of, redemption premium, if any, and interest on the Refunded Obligations to their due dates and desires that such funds be applied to purchase certain direct obligations of the United States of America hereinafter defined as the "Escrowed Securities" for deposit to the credit of the Escrow Fund; and WHEREAS, the Escrowed Securities shall mature and the interest thereon shall be payable at such times and in such amounts so as to provide money which, together with cash balances from time to time on deposit in the Escrow Fund, will be sufficient to pay interest on the Refunded Obligations as it accrues and becomes payable and the principal of and redemption premium, if any, on the Refunded Obligations as it becomes due and payable; and WHEREAS, The Bank of New York Mellon Trust Company, N.A. is the paying agent for the Refunded Obligations (the "Paying Agent"); and WHEREAS, to facilitate the receipt and transfer of proceeds of the Escrowed Securities, particularly those in book entry form, the Issuer desires to establish the Escrow Fund at the corporate trust office of the Escrow Agent in Dallas, Texas; and WHEREAS, the Escrow Agent is a party to this Agreement to acknowledge its acceptance of the terms and provisions hereof; NOW, THEREFORE, in consideration of the mutual undertakings, promises and agreements herein contained, the sufficiency of which hereby are acknowledged, and to secure the full and timely payment of principal of, redemption premium, if any, and the interest on the Refunded Obligations, the Issuer and the Escrow Agent mutually undertake, promise, and agree for themselves and their respective representatives and successors, as follows: TCMUD No. 1 Page 245 of 291 Meeting Date: December 20, 2011 3 ARTICLE I DEFINITIONS AND INTERPRETATIONS Section 1.01. Definitions. Unless the context clearly indicates otherwise, the following terms shall have the meanings assigned to them below when they are used in this Agreement: "Escrow Fund" means the fund created pursuant to Section 3.01 of this Agreement to be administered by the Escrow Agent pursuant to the provisions of this Agreement. "Escrowed Securities" means the cash or Governmental Securities described in the Report, or other Governmental Securities or noncallable and nonprepayable direct obligations of the United States of America or obligations the due and timely payment of which is unconditionally guaranteed by the United States of America substituted therefor pursuant to Article IV of this Agreement. Section 1.02. Other Definitions. The terms "Agreement," "Issuer," "Escrow Agent," "Refunded Obligations," "Refunding Obligations," "Report," "Escrowed Securities," "Governmental Securities," and "Paying Agent," when they are used in this Agreement, shall have the meanings assigned to them in the preamble to this Agreement. Section 1.03. Interpretations. The titles and headings of the articles and sections of this Agreement have been inserted for convenience and reference only and are not to be considered a part hereof and shall not in any way modify or restrict the terms hereof. This Agreement and all of the terms and provisions hereof shall be liberally construed to effectuate the purposes set forth herein and to achieve the intended purpose of providing for the refunding of the Refunded Obligations in accordance with applicable law. ARTICLE II DEPOSIT OF FUNDS AND ESCROWED SECURITIES Section 2.01. Deposits in the Escrow Fund. Concurrently with the sale and delivery of the Refunding Obligations the Issuer shall deposit, or cause to be deposited, with the Escrow Agent, for deposit in the Escrow Fund, the funds and Escrowed Securities, and the Escrow Agent shall, upon the receipt thereof, acknowledge such receipt to the Issuer in writing. ARTICLE III CREATION AND OPERATION OF ESCROW FUND Section 3.01. Escrow Fund. The Escrow Agent has created on its books a special trust fund and irrevocable escrow to be known as "Trophy Club Municipal Utility District No. 1 Unlimited Tax Refunding Bonds, Series 2011 Escrow Fund" (the "Escrow Fund"). The Escrow Agent hereby agrees that upon receipt thereof it will deposit to the credit of the Escrow Fund the funds and the Escrowed Securities described in the Report. Such deposit, all proceeds therefrom, and all cash balances from time to time on deposit therein (a) shall be the property of the Escrow Fund, (b) shall be applied only in strict conformity with the terms and conditions of this Agreement, and (c) are hereby irrevocably pledged to the payment of the principal of, redemption premium, if any, and interest on the Refunded Obligations, which payment shall be TCMUD No. 1 Page 246 of 291 Meeting Date: December 20, 2011 4 made by timely transfers of such amounts at such times as are provided for in Section 3.02 hereof. When the final transfers have been made for the payment of such principal of, redemption premium, if any, and interest on the Refunded Obligations, any balance then remaining in the Escrow Fund shall be transferred to the Issuer. Section 3.02. Payment of Principal, Redemption Premium, if any, and Interest. The Escrow Agent is hereby irrevocably instructed to transfer to the Paying Agent for the Refunded Obligations from the cash balances from time to time on deposit in the Escrow Fund, the amounts required to pay the principal of and redemption premium, if any, on the Refunded Obligations at their respective maturity or redemption dates and interest thereon to such dates in the amounts and at the times shown in the Report. Section 3.03. Sufficiency of Escrow Fund. The Issuer represents that cash balances in the Escrow Fund and the successive receipts of the principal of and interest on the Escrowed Securities if acquired will assure that the cash balance on deposit from time to time in the Escrow Fund will be at all times sufficient to provide money for transfer to the Paying Agent at the times and in the amounts required to pay the interest on the Refunded Obligations as such interest comes due and the principal of and redemption premium, if any, on the Refunded Obligations as the Refunded Obligations mature or are redeemed, as the case may be, all as more fully set forth in the Report. If, for any reason, at any time, the cash balances on deposit or scheduled to be on deposit in the Escrow Fund shall be insufficient to transfer the amounts required by each place of payment (paying agent) for the Refunded Obligations to make the payments set forth in Section 3.02 hereof, the Issuer shall timely deposit in the Escrow Fund, from any funds that are lawfully available therefor, additional funds in the amounts required to make such payments. Notice of any such insufficiency shall be given promptly as hereinafter provided, but the Escrow Agent shall not in any manner be responsible for any insufficiency of funds in the Escrow Fund or the Issuer's failure to make additional deposits thereto. Section 3.04. Trust Fund. The Escrow Agent shall hold at all times the Escrow Fund, the Escrowed Securities and all other assets of the Escrow Fund, wholly segregated from all other funds and securities on deposit with the Escrow Agent; it shall never allow the Escrowed Securities or any other assets of the Escrow Fund to be commingled with any other funds or securities of the Escrow Agent; and it shall hold and dispose of the assets of the Escrow Fund only as set forth herein. The Escrowed Securities and other assets of the Escrow Fund shall always be maintained by the Escrow Agent as trust funds for the benefit of the owners of the Refunded Obligations; and a special account thereof shall at all times be maintained on the books of the Escrow Agent. The owners of the Refunded Obligations shall be entitled to the same preferred claim and first lien upon the Escrowed Securities, the proceeds thereof, and all other assets of the Escrow Fund to which they are entitled as owners of the Refunded Obligations. The amounts received by the Escrow Agent under this Agreement shall not be considered as a banking deposit by the Issuer, and the Escrow Agent shall have no right to title with respect thereto except as a constructive trustee and Escrow Agent under the terms of this Agreement. The amounts received by the Escrow Agent under this Agreement shall not be subject to warrants, drafts or checks drawn by the Issuer or, except to the extent expressly herein provided, by the Paying Agent. TCMUD No. 1 Page 247 of 291 Meeting Date: December 20, 2011 5 Section 3.05. Security for Cash Balances. Cash balances from time to time on deposit in the Escrow Fund shall, to the extent not insured by the Federal Deposit Insurance Corporation or its successor, be continuously secured by a pledge of direct obligations of, or obligations unconditionally guaranteed by, the United States of America, having a market value at least equal to such cash balances. ARTICLE IV LIMITATION ON INVESTMENTS Section 4.01. Power to Invest or Substitute Securities. Except as provided in Sections 3.01, 3.02, 4.02, 4.03 and 4.04 hereof, the Escrow Agent shall not have any power or duty to invest or reinvest any money held hereunder, or to make substitutions of the Escrowed Securities, or to sell, transfer or otherwise dispose of the Escrowed Securities. Section 4.02. Reinvestment of Certain Cash Balances in Escrow by Escrow Agent. In addition to the Escrowed Securities listed in the Report, the Escrow Agent shall reinvest cash balances in such amounts and at such times as shown in the Report in United States Treasury Obligations - State and Local Government Series with an interest rate equal to zero percent(0%) to the extent such Obligations are available from the Department of the Treasury. All such re- investments shall be made only from the portion of cash balances derived from the maturing principal of and interest on Escrowed Securities. All such re-investments shall be acquired on and shall mature on the dates shown on the Report. Section 4.03. Substitutions and Investments. At the discretion of the Issuer, the Escrow Agent shall invest cash balances in the Escrow Fund, make substitutions of the Escrowed Securities or redeem the Escrowed Securities and reinvest the proceeds thereof or hold such proceeds as cash, together with other money or securities held in the Escrow Fund provided that the Issuer delivers to the Escrow Agent the following: (1) an opinion by an independent certified public accountant that after such investment, substitution or reinvestment of the principal amount of the securities in the Escrow Fund (which shall be Governmental Securities), together with the interest thereon and other available money, will be sufficient to pay, without further investment or reinvestment, as the same become due in accordance with the Report, the principal of, redemption premium, if any, and interest on the Refunded Obligations which have not previously been paid; and (2) an unqualified opinion of nationally recognized municipal bond counsel to the effect that (a) such investment, substitution or reinvestment will not cause the Refunded Obligations to be "arbitrage bonds" within the meaning of the Code or the regulations thereunder in effect on the date of such substitution or reinvestment, or otherwise make the interest on the Refunded Obligations subject to federal income taxation, and (b) such substitution or reinvestment complies with the Constitution and laws of the State of Texas and with all relevant documents relating to the issuance of the Refunded Obligations. TCMUD No. 1 Page 248 of 291 Meeting Date: December 20, 2011 6 The Escrow Agent shall have no responsibility or liability for loss or otherwise with respect to investments made at the direction of the Issuer. Section 4.04. Substitution for Escrowed Securities. Concurrently with the initial deposit by the Issuer with the Escrow Agent, but not thereafter, the Issuer, at its option, may substitute cash or direct noncallable and not pre-payable obligations of the United States Treasury (the "Substitute Obligations"), but only if such Substitute Obligations: (1) are in an amount, and/or mature in an amount, which is equal to or greater than the amount payable on the maturity date of the obligation listed in the Report for which such Substitute Obligation is substituted; (2) mature on or before the maturity date of the obligation listed in the Report for which such Substitute Obligation is substituted; and (3) produce the amount necessary to pay the interest on and principal of the Refunded Obligations, as set forth in the Report, as verified by a certified public accountant or a firm of certified public accountants. If, concurrently with the initial deposit by the Issuer with the Escrow Agent, any such Substitute Obligations are so substituted for any Escrowed Securities, the Issuer may, at any time thereafter, substitute for such Substitute Obligations the same Escrowed Securities for which such Substitute Obligations originally were substituted. Section 4.05. Arbitrage. The Issuer hereby covenants and agrees that it shall never request the Escrow Agent to exercise any power hereunder or permit any part of the money in the Escrow Fund or proceeds from the sale of Escrowed Securities to be used directly or indirectly to acquire any securities or obligations if the exercise of such power or the acquisition of such securities or obligations would cause any Refunding Obligations or Refunded Obligations to be an "arbitrage bond" within the meaning of the Code. ARTICLE V APPLICATION OF CASH BALANCES Section 5.01. In General. Except as provided in Sections 3.01, 3.02 and 4.02 hereof, no withdrawals, transfers, investments, or reinvestment shall be made of cash balances in the Escrow Fund. ARTICLE VI RECORDS AND REPORTS Section 6.01. Records. The Escrow Agent will keep books of record and account in which complete and correct entries shall be made of all transactions relating to the receipts, disbursements, allocations and application of the money and Escrowed Securities deposited to the Escrow Fund and all proceeds thereof, and such books shall be available for inspection at reasonable hours and under reasonable conditions by the Issuer and the owners of the Refunded Obligations. TCMUD No. 1 Page 249 of 291 Meeting Date: December 20, 2011 7 Section 6.02. Reports. While this Agreement remains in effect, the Escrow Agent monthly shall prepare and send to the Issuer a written report summarizing all transactions relating to the Escrow Fund during the preceding month, including, without limitation, credits to the Escrow Fund as a result of interest payments on or maturities of the Escrowed Securities and transfers from the Escrow Fund for payments on the Refunded Obligations or otherwise, together with a detailed statement of all Escrowed Securities and the cash balance on deposit in the Escrow Fund as of the end of such period. ARTICLE VII CONCERNING THE PAYING AGENT AND ESCROW AGENT Section 7.01. Representations. The Escrow Agent hereby represents that it has all necessary power and authority to enter into this Agreement and undertake the obligations and responsibilities imposed upon it herein, and that it will carry out all of its obligations hereunder. Section 7.02. Limitation on Liability and Indemnification. The liability of the Escrow Agent to transfer funds for the payment of the principal of, redemption premium, if any, and interest on the Refunded Obligations shall be limited to the proceeds of the Escrowed Securities and the cash balances from time to time on deposit in the Escrow Fund. Notwithstanding any provision contained herein to the contrary, neither the Escrow Agent nor the Paying Agent shall have any liability whatsoever for the insufficiency of funds from time to time in the Escrow Fund or any failure of the obligors of the Escrowed Securities to make timely payment thereon, except for the obligation to notify the Issuer promptly of any such occurrence. The recitals herein and in the proceedings authorizing the Refunding Obligations shall be taken as the statements of the Issuer and shall not be considered as made by, or imposing any obligation or liability upon, the Escrow Agent. The Escrow Agent is not a party to the proceedings authorizing the Refunding Obligations or the Refunded Obligations and is neither responsible for nor bound by any of the provisions thereof (except as a place of payment and paying agent and/or a Paying Agent/Registrar therefor). In its capacity as Escrow Agent, it is agreed that the Escrow Agent need look only to the terms and provisions of this Agreement. The Escrow Agent makes no representations as to the value, conditions or sufficiency of the Escrow Fund, or any part thereof, or as to the title of the Issuer thereto, or as to the security afforded thereby or hereby, and the Escrow Agent shall not incur any liability or responsibility in respect to any of such matters. It is the intention of the parties hereto that the Escrow Agent shall never be required to use or advance its own funds or otherwise incur personal financial liability in the performance of any of its duties or the exercise of any of its rights and powers hereunder. The Escrow Agent shall not be liable for any action taken or neglected to be taken by it in good faith in any exercise of reasonable care and believed by it to be within the discretion or power conferred upon it by this Agreement, nor shall the Escrow Agent be responsible for the consequences of any error of judgment; and the Escrow Agent shall not be answerable except for its own action, neglect or default, nor liable for any loss unless the same shall have been through its negligence or want of good faith. In addition, to the extent permitted by law, the Issuer agrees TCMUD No. 1 Page 250 of 291 Meeting Date: December 20, 2011 8 to indemnify the Escrow Agent and its employees, directors, officers and agents and hold each harmless against any and all losses, liabilities, litigation costs and expenses (including reasonable counsel fees and expenses), that may arise out of any action or inaction of the Escrow Agent under this Agreement other than any action or inaction resulting from the Escrow Agent's negligence or want of good faith. Unless it is specifically otherwise provided herein, the Escrow Agent has no duty to determine or inquire into the happening or occurrence of any event or contingency or the performance or failure of performance of the Issuer with respect to arrangements or contracts with others, with the Escrow Agent's sole duty hereunder being to safeguard the Escrow Fund, to dispose of and deliver the same in accordance with this Agreement. If, however, the Escrow Agent is called upon by the terms of this Agreement to determine the occurrence of any event or contingency, the Escrow Agent shall be obligated, in making such determination, only to exercise reasonable care and diligence, and in event of error in making such determination the Escrow Agent shall be liable only for its own misconduct or its negligence and shall be entitled to advice of counsel concerning its duties hereunder. In determining the occurrence of any such event or contingency the Escrow Agent may request from the Issuer or any other person such reasonable additional evidence as the Escrow Agent in its discretion may deem necessary to determine any fact relating to the occurrence of such event or contingency, and in this connection may make inquiries of, and consult with, among others, the Issuer at any time. Section 7.03. Compensation. The Issuer has agreed to pay to the Escrow Agent the agreed upon fees and expenses for performing the services hereunder and for all expenses incurred or to be incurred by the Escrow Agent in the administration of this Agreement and performing all future paying agency services of the Paying Agent for the Refunded Obligations. The Escrow Agent hereby agrees to look only to the Issuer for the payment of such fees and reimbursement of such expenses. The Escrow Agent hereby agrees that in no event shall it ever assert any claim or lien against the Escrow Fund for any fees for its services, whether regular or extraordinary, as Escrow Agent, or in any other capacity, or for reimbursement for any of its expenses. Section 7.04. Successor Escrow Agents. If at any time the Escrow Agent or its legal successor or successors should become unable, through operation or law or otherwise, to act as escrow agent hereunder, or if its property and affairs shall be taken under the control of any state or federal court or administrative body because of insolvency or bankruptcy or for any other reason, a vacancy shall forthwith exist in the office of Escrow Agent hereunder. In such event the Issuer, by appropriate action, promptly shall appoint an Escrow Agent to fill such vacancy. If no successor Escrow Agent shall have been appointed by the Issuer within 60 days, a successor may be appointed by the owners of a majority in principal amount of the Refunded Obligations then outstanding by an instrument or instruments in writing filed with the Issuer, signed by such owners or by their duly authorized attorneys-in-fact. If, in a proper case, no appointment of a successor Escrow Agent shall be made pursuant to the foregoing provisions of this section within three months after a vacancy shall have occurred, the owner of any Refunded Obligation may apply to any court of competent jurisdiction to appoint a successor Escrow Agent. Such court may thereupon, after such notice, if any, as it may deem proper, prescribe and appoint a successor Escrow Agent. TCMUD No. 1 Page 251 of 291 Meeting Date: December 20, 2011 9 Any successor Escrow Agent shall be a trust company or commercial bank organized and doing business under the laws of the United States or the State of Texas, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least $25,000,000, subject to the supervision or examination by Federal or State authority and qualified to act as Escrow Agent under Chapter 1207. Any successor Escrow Agent shall execute, acknowledge and deliver to the Issuer and the Escrow Agent an instrument accepting such appointment hereunder, and the Escrow Agent shall execute and deliver an instrument transferring to such successor Escrow Agent, subject to the terms of this Agreement, all the rights, powers and trusts of the Escrow Agent hereunder. Upon the request of any such successor Escrow Agent, the Issuer shall execute any and all instruments in writing for more fully and certainly vesting in and confirming to such successor Escrow Agent all such rights, powers and duties. The Escrow Agent shall pay over to its successor Escrow Agent a proportional part of the Escrow Agent's fee hereunder. Section 7.05. Notices of Redemption. The Escrow Agent, by its execution hereof, as Paying Agent for the Refunded Obligations, acknowledges receipt of written notice of the redemption of the Refunded Obligations, as required by the proceedings that authorized the issuance of the Refunded Obligations, and agrees to provide notice of redemption of the Refunded Obligations as required under the terms of the order of the Issuer authorizing the issuance of the Refunded Obligations, including notices required to be delivered to each registered securities depository and to any national information service that disseminates redemption notices. ARTICLE VIII MISCELLANEOUS Section 8.01. Notices. Any notice, authorization, request, or demand required or permitted to be given hereunder shall be in writing and shall be deemed to have been duly given when mailed by registered or certified mail, postage prepaid addressed to the Issuer or the Escrow Agent at the address shown on Exhibit A attached hereto. The United States Post Office registered or certified mail receipt showing delivery of the aforesaid shall be conclusive evidence of the date and fact of delivery. Any party hereto may change the address to which notices are to be delivered by giving to the other parties not less than ten (10) days prior notice thereof. Moody's Investors Service is to receive prior written notice and draft legal documents of any contemplated amendment at the address specified in Section 8.04. Section 8.02. Termination of Responsibilities. Upon the taking of all the actions as described herein by the Escrow Agent, the Escrow Agent shall have no further obligations or responsibilities hereunder to the Issuer, the owners of the Refunded Obligations or to any other person or persons in connection with this Agreement. Section 8.03. Binding Agreement. This Agreement shall be binding upon the Issuer and the Escrow Agent and their respective successors and legal representatives, and shall inure solely to the benefit of the owners of the Refunded Obligations, the Issuer, the Escrow Agent and their respective successors and legal representatives. TCMUD No. 1 Page 252 of 291 Meeting Date: December 20, 2011 10 Section 8.04. Severability. In case any one or more of the provisions contained in this Agreement shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Agreement, but this Agreement shall be construed as if such invalid or illegal or unenforceable provision had never been contained herein. Immediate written notice is to be sent by the Issuer to Moody's Investors Service after any incidence of severance. Such notice should be sent to Moody's Investors Service, Attention: Public Finance Rating Desk/Refunded Bonds, 99 Church Street, New York, New York, 10007. Section 8.05. Texas Law Governs. This Agreement shall be deemed to be an agreement made under the laws of the State of Texas. Section 8.06. Time of the Essence. Time shall be of the essence in the performance of obligations from time to time imposed upon the Escrow Agent by this Agreement. Section 8.07. Effective Date of Agreement. This Agreement shall be effective upon receipt by the Escrow Agent of the funds described in the Report and the Escrowed Securities. Section 8.08. Amendments. This Agreement is made for the benefit of the Issuer, the Escrow Agent and the holders or owners from time to time of the Refunded Obligations, and it shall not be repealed, revoked, altered or amended without the written consent of all such holders or owners and the written consent of the Escrow Agent and the Issuer; provided, however, that the Issuer and the Escrow Agent may, without the consent of, or notice to, such holders or owners and as shall not be inconsistent with the terms and provisions of this Agreement amend this Agreement to cure any ambiguity or formal defect or omission in this Agreement; but provided further that no amendment to or alteration of this Agreement shall conflict with the requirements for firm banking and financial arrangements in accordance with Chapter 1207. No such amendment shall adversely affect the rights of the holders of the Refunded Obligations. No amendment shall be effective unless the same shall be in writing and signed by the parties thereto. The Issuer shall provide Moody's Investors Service with documents relating to any proposed amendment to this Agreement prior to execution of any such amendment. All notices to Moody's shall be sent at the address set forth in Section 8.04 of this Agreement. Section 8.09. Counterparts. This Agreement may be executed in one or more counterparts, each and all of which shall constitute one and the same instrument. [Remainder of page intentionally left blank] TCMUD No. 1 Page 253 of 291 Meeting Date: December 20, 2011 [SIGNATURE PAGE] EXECUTED as of the date first written above. TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1 By____________________________________ Pricing Officer THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A. as Escrow Agent By:___________________________________ Name:_________________________________ Title:__________________________________ TCMUD No. 1 Page 254 of 291 Meeting Date: December 20, 2011 INDEX TO EXHIBITS Exhibit A Addresses of the Issuer and the Escrow Agent Exhibit B Verification Report of ____________, relating to the Refunded Obligations TCMUD No. 1 Page 255 of 291 Meeting Date: December 20, 2011 A-1 EXHIBIT A ADDRESSES OF THE ISSUER AND ESCROW AGENT ISSUER Trophy Club Municipal Utility District No. 1 100 Municipal Drive Trophy Club, Texas 76262 Attention: Director of Finance ESCROW AGENT The Bank of New York Mellon Trust Company, N.A. 2001 Bryan Street, 11th Floor Dallas, Texas 75201 Attn: Corporate Trust Division TCMUD No. 1 Page 256 of 291 Meeting Date: December 20, 2011 B-1 EXHIBIT B VERIFICATION REPORT TCMUD No. 1 Page 257 of 291 Meeting Date: December 20, 2011 TravisCoMUD2\UTRB11\Del: ORDER C-1 EXHIBIT "C" FORM OF NOTICE OF DEFEASANCE/REDEMPTION(1) Trophy Club Municipal Utility District No. 1 Notice is hereby given that the following obligations of Trophy Club Municipal Utility District No. 1 (the "District") have been defeased and called for redemption prior to their scheduled maturities, at a price of par and accrued interest to the date of redemption, to-wit: TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 2 UNLIMITED TAX BONDS, SERIES 2002, all outstanding obligations maturing on ___________ in each the years _____ through ______, inclusive, aggregating $_________ in principal amount. Maturity Date Principal Amount Interest Rate Redemption Date CUSIP* Due provision for the payment of the above-described obligations has been made with The Bank of New York Mellon Trust Company, N.A., (the "Bank"), the paying agent for said obligations, and said obligations shall be presented for payment either in person or by mail, at the following address: First Class/ Registered/Certified Mail By Overnight or Courier In person The Bank of New York Mellon Trust Company, N.A. Global Corporate Trust P.O. Box 396 East Syracuse, New York 13057 The Bank of New York Mellon Trust Company, N.A. Global Corporate Trust 111 Sanders Creek Parkway East Syracuse, New York 13057 The Bank of New York Mellon Trust Company, N.A. Global Corporate Trust Corporate Trust Window 101 Barclay Street 1ST Floor East New York, New York 10286 Interest on the redeemed obligations shall cease to accrue thereon after their redemption date. In compliance with section 3406 of the Internal Revenue Code of 1986, as amended, payors making certain payments due on debt securities may be obligated to deduct and withhold a portion of such payment from the remittance to any payee who has failed to provide such payor with a valid taxpayer identification number. To avoid the imposition of this withholding tax, such payees should submit a certified taxpayer identification number when surrendering the Bonds for redemption. Dated: ______________, 20__ * The CUSIP Numbers have been assigned to this issue by the CUSIP Service Bureau and are included solely for the convenience of the owners of the Bonds. The District and Paying Agent shall not be responsible for the selection or the correctness of the CUSIP numbers set forth herein or as printed on any Bond. (1) To be modified, amended or revised as necessary in accordance with the terms of the Pricing Certificate for each Series. Trophy Club Municipal Utility District No. 1 TCMUD No. 1 Page 258 of 291 Meeting Date: December 20, 2011 TravisCoMUD2\UTRB11\Del: ORDER D-1 EXHIBIT "D" CONTINUING DISCLOSURE UNDERTAKING Accounting Principles The accounting and reporting policies of the District relating to the funds and account groups will conform to generally accepted accounting principles (GAAP) as applied to governmental entities. TCMUD No. 1 Page 259 of 291 Meeting Date: December 20, 2011 TravisCoMUD2\UTRB11\Del: ORDER E-1 EXHIBIT "E" WRITTEN PROCEDURES RELATING TO CONTINUING COMPLIANCE WITH FEDERAL TAX COVENANTS A. Arbitrage. With respect to the investment and expenditure of the proceeds of the Bonds the District's Director of Finance (the "Responsible Person") will: • monitor all amounts deposited into a sinking fund or funds, e.g., the Interest and Sinking Fund, to assure that the maximum amount invested at a yield higher than the yield on the Bonds does not exceed an amount equal to the debt service on the Bonds in the succeeding 12 month period plus a carryover amount equal to one-twelfth of the principal and interest payable on the Bonds for the immediately preceding 12-month period; • monitor the actions of the escrow agent (to the extent an escrow is funded with proceeds) to ensure compliance with the applicable provisions of the escrow agreement, including with respect to reinvestment of cash balances; • retain any official action of the District (such as a reimbursement resolution) stating its intent to reimburse with the proceeds of the Bonds any amount expended prior to the Issue Date for the acquisition, renovation or construction of the facilities; • ensure that the applicable information return (e.g., IRS Form 8038-G, 8038-GC, or any successor forms) is timely filed with the IRS; and • assure that, unless excepted from rebate and yield restriction under section 148(f) of the Code, excess investment earnings are computed and paid to the U.S. government at such time and in such manner as directed by the IRS (i) at least every 5 years after the Issue Date and (ii) within 30 days after the date the Bonds are retired. B. Private Business Use. With respect to the use of the facilities financed or refinanced with the proceeds of the Bonds the Responsible Person will: • monitor the date on which the facilities are substantially complete and available to be used for the purpose intended; • monitor whether, at any time the Bonds are outstanding, any person, other than the District, the employees of the District, the agents of the District or members of the general public has any contractual right (such as a lease, purchase, management or other service agreement) with respect to any portion of the facilities; • monitor whether, at any time the Bonds are outstanding, any person, other than the District, the employees of the District, the agents of the District or members of the general public has a right to use the output of the facilities; • determine whether, at any time the Bonds are outstanding, any person, other than the District, has a naming right for the facilities or any other contractual right granting an intangible benefit; • determine whether, at any time the Bonds are outstanding, the facilities are sold or otherwise disposed of; and • take such action as is necessary to remediate any failure to maintain compliance with the covenants contained in the Ordinance related to the public use of the facilities. TCMUD No. 1 Page 260 of 291 Meeting Date: December 20, 2011 TravisCoMUD2\UTRB11\Del: ORDER E-2 C. Record Retention. The Responsible Person will maintain or cause to be maintained all records relating to the investment and expenditure of the proceeds of the Bonds and the use of the facilities financed or refinanced thereby for a period ending three (3) years after the complete extinguishment of the Bonds. If any portion of the Bonds is refunded with the proceeds of another series of tax-exempt obligations, such records shall be maintained until the three (3) years after the refunding obligations are completely extinguished. Such records can be maintained in paper or electronic format. D. Responsible Person. The Responsible Person shall receive appropriate training regarding the District's accounting system, contract intake system, facilities management and other systems necessary to track the investment and expenditure of the proceeds and the use of the facilities financed with the proceeds of the Bonds. The foregoing notwithstanding, the Responsible Person is authorized and instructed to retain such experienced advisors and agents as may be necessary to carry out the purposes of these instructions. TCMUD No. 1 Page 261 of 291 Meeting Date: December 20, 2011 100 Municipal Drive Trophy Club, Texas 76262Trophy Club Entities Legislation Details (With Text) File #: Version:12011-214-M1 Name: Status:Type:M1 Agenda Item Draft File created:In control:12/13/2011 Trophy Club Municipal Utility District No. 1 On agenda:Final action:12/20/2011 Title:Discuss and take appropriate action to abandon an existing road easement to the WWTP, to be replaced by a new road by plat and separate instrument with the construction of a new subdivision “Canterbury Hills” which will be located to the north and east of the WWTP. Attachments:Overall Exhibit-Existing rd easement and easement to be abandonment.pdf Existing 30 Road Easement.pdf Proposed 60 Access Easement.pdf Proposed 0.765 Ac road easement abandonment.pdf Action ByDate Action ResultVer. Title Discuss and take appropriate action to abandon an existing road easement to the WWTP, to be replaced by a new road by plat and separate instrument with the construction of a new subdivision “Canterbury Hills” which will be located to the north and east of the WWTP. TCMUD No. 1 Page 262 of 291 Meeting Date: December 20, 2011 TCMUD No. 1Page 263 of 291Meeting Date: December 20, 2011 TCMUD No. 1Page 264 of 291Meeting Date: December 20, 2011 TCMUD No. 1Page 265 of 291Meeting Date: December 20, 2011 TCMUD No. 1Page 266 of 291Meeting Date: December 20, 2011 TCMUD No. 1Page 267 of 291Meeting Date: December 20, 2011 TCMUD No. 1Page 268 of 291Meeting Date: December 20, 2011 TCMUD No. 1Page 269 of 291Meeting Date: December 20, 2011 TCMUD No. 1Page 270 of 291Meeting Date: December 20, 2011 TCMUD No. 1Page 271 of 291Meeting Date: December 20, 2011 TCMUD No. 1Page 272 of 291Meeting Date: December 20, 2011 TCMUD No. 1Page 273 of 291Meeting Date: December 20, 2011 TCMUD No. 1Page 274 of 291Meeting Date: December 20, 2011 TCMUD No. 1Page 275 of 291Meeting Date: December 20, 2011 TCMUD No. 1Page 276 of 291Meeting Date: December 20, 2011 TCMUD No. 1Page 277 of 291Meeting Date: December 20, 2011 TCMUD No. 1Page 278 of 291Meeting Date: December 20, 2011 100 Municipal Drive Trophy Club, Texas 76262Trophy Club Entities Legislation Details (With Text) File #: Version:12011-215-M1 Name: Status:Type:M1 Agenda Item Draft File created:In control:12/13/2011 Trophy Club Municipal Utility District No. 1 On agenda:Final action: Title:Discuss and take appropriate action regarding the roundabout at Trophy Club Drive and Trophy Lake Drive. Attachments: Action ByDate Action ResultVer. Title Discuss and take appropriate action regarding the roundabout at Trophy Club Drive and Trophy Lake Drive. TCMUD No. 1 Page 279 of 291 Meeting Date: December 20, 2011 100 Municipal Drive Trophy Club, Texas 76262Trophy Club Entities Legislation Details (With Text) File #: Version:12011-207-M1 Name: Status:Type:M1 Agenda Item Draft File created:In control:12/12/2011 Trophy Club Municipal Utility District No. 1 On agenda:Final action:12/20/2011 Title:Discuss and take appropriate action regarding the process for Trophy Club MUD No. 1 Press Releases. Attachments: Action ByDate Action ResultVer. Title Discuss and take appropriate action regarding the process for Trophy Club MUD No. 1 Press Releases. TCMUD No. 1 Page 280 of 291 Meeting Date: December 20, 2011 100 Municipal Drive Trophy Club, Texas 76262Trophy Club Entities Legislation Details (With Text) File #: Version:12011-208-M1 Name: Status:Type:M1 Agenda Item Draft File created:In control:12/12/2011 Trophy Club Municipal Utility District No. 1 On agenda:Final action:12/20/2011 Title:Review and Approve Meeting Minutes dated October 18, 2011. Attachments:10182011 MUD 1 Meeting Minutes.pdf Action ByDate Action ResultVer. Title Review and Approve Meeting Minutes dated October 18, 2011. TCMUD No. 1 Page 281 of 291 Meeting Date: December 20, 2011 MINUTES FROM REGULAR SESSION TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1 MEETING FOR THE TOWN OF TROPHY CLUB LOCATION: 100 MUNICIPAL DRIVE, TROPHY CLUB, TEXAS Tuesday, October 18, 2011 at 7:00 P.M. Svore Municipal Building Boardroom The Trophy Club Municipal Utility District No. 1, in the Town of Trophy Club, Texas, met in Regular Session on Tuesday, October 18. 2011. The meeting was held within the boundaries of the District and was open to the public. STATE OF TEXAS § COUNTY OF DENTON § BOARD MEMBERS PRESENT: Jim Moss President Nick Sanders Vice President Kevin Carr Secretary/Treasurer Bill Armstrong Director BOARD MEMBERS ABSENT: Jim Thomas Director STAFF AND GUEST(S) PRESENT: Robert Scott District Manager Bob West Attorney Danny Thomas Fire Chief Renae Gonzales Senior Accountant Laurie Slaght Interim MUD Secretary Margi Cantrell Council Member Liaison Mike Slye Town Manager President Moss announced the date of October 18, 2011, called the meeting to order and announced a quorum at 7:01 p.m. CITIZEN PRESENTATIONS Citizens are allowed three (3) minutes to address the Board regarding an item over which the Board has policy or oversight authority as provided by Texas law, the ethics order, or other policy order. REPORTS & UPDATE 1. Receive District Manager's Report a. Water pumped vs. billed b. Monthly WWTP Report c. New Fire Station Construction Costs to date d. Update - Water Plant e. Update - Wastewater Plant District Manager Scott updated the Board regarding the above items and addressed the Board’s questions. TCMUD No. 1 Page 282 of 291 Meeting Date: December 20, 2011 2. Receive Finance Update a. Senior Accountant Gonzales to provide the Board with a monthly update and address the Board's questions. -Senior Accountant Gonzales updated the Board and addressed the Board’s questions. -Senior Accountant Gonzales is preparing for auditors that will be here on Nov. 8th. -STW Software conversion should be completed by 10-31-11. -There were 25 PID connections for September and a total of 179 for the year. -Directors Carr and Sanders said they would like to make sure Mrs. Gonzales gets some help to input data into STW so she is able to meet the November deadlines. -Director Sanders inquired about the STW difficulty in matching up the chart of accounts. Mrs. Gonzales is working with David Johnson on setting up the chart of accounts. 3. Receive Fire Update a. Fire Chief Thomas to provide Board with a monthly update and address the Board's questions. -Fire Chief Thomas provided the Board with the monthly Fire Update. -78 calls were taken in September. -The truck was out for two weeks in Bastrop County. We were paid $3800 for the Jack County fire. A payment plan has been set up for payments from the Possum Kingdom fire, on which we are owed $21,000. The billing paperwork has been sent into the state for the Bastrop County run which is $38,000. -Director Carr inquired about the construction checklist for the Fire Station and any issues that might have come up. Chief Thomas said they are minimal and there are no leaks in the roof. 4. Receive Town Council Update a. Councilmember Cantrell to provide Board with an update of Council meetings, notices, and relevant business. -The Council approved the plat for Waters Edge at Hogan’s Glen, which will include home sites for 11 new homes. -The Interlocal Cooperation Agreement with Denton County. and the Town for Shared Governance, Communication and Dispatch Service System was approved. -The Town Council continues to work with the P & Z to refine PD30 a.k.a the 26 acres Beck Properties. -The re-appointments from P & Z and ZBA were finalized. TCMUD No. 1 Page 283 of 291 Meeting Date: December 20, 2011 REGULAR SESSION 5. Discuss and take appropriate action regarding 2011-2012 Rate Order a. Review new water rates from Fort Worth. b. Review residential deposit requirements. -District Manager Scott explained that Fort W orth raised our rates 10.5%. -Deposits – Director Carr said he would like to establish a policy in which if a resident has a good payment history, they should get their deposit back and would recommend that we cap waste water at $2.50 for residents. -District Manager Scott said he would like to raise the rates higher on the higher users and leave it lower for the users who use minimum amounts of water and stated that the average usage per connection in Trophy Club is 17,500 gallons per month. -Directors Carr and Armstrong inquired about the deposit and refund of such. Motion made by Director Carr, seconded by Director Sanders, to make the following changes to the 2011-2012 Rate Order. Ayes 4 Nays 0 Absent 1 Section 2.01. Water Service Basic Charge Fee: (Does not include water usage) $12.71 0-6,000 gallons per month $2.48 $2.50/1,000 gallons 7,000 to 12,000 gallons per month $3.00 $3.05/1,000 gallons 13,000 to 25,000 gallons per month $3.23 $3.30/1,000 gallons 26,000 to 50,000 gallons per month $3.34 $3.40/1,000 gallons 51,000 plus gallons per month $3.44 $3.50/1,000 gallons Section 2.02. Sewer Service Rates A. Single-Family Homes and Cottages . Each single-family home and cottage shall be billed based upon the treated water used by such unit that month, as follows: Basic Charge Fee: (Does not include sewer usage) $12.71 0-6,000 gallons per month $2.48/1,000 gallons 7,000-12,000 gallons per month $3.00/1,000 gallons 12,000 gallons maximum per month for residential 0-12,000 gallons per month $2.50/1,000 gallons 12,000 gallons maximum per month for residential At 3rd disconnect within a calendar year, the customer will be required to pay an additional deposit of $100.00. This additional deposit will be in addition in addition to the $25 service fee. Any and all deposits will be returned as a credit to customer accounts after a period of five years with no more than 2 late fees assessed per year and no service disconnections. TCMUD No. 1 Page 284 of 291 Meeting Date: December 20, 2011 6. Discuss and take appropriate action on setting a governmental water rate for the Town Of Trophy Club for FY2011-2012. -Director Sanders has taken all the Town meters and looked at January through October of last year to figure out the Town usage. Director Sanders stated that if our raw cost is $1.04 and figured what would be a cost per 1,000 gallons. He stated that we could look at creating a municipal rate and agrees that there are pros and cons to that. Before he moves forward with further analysis he would like further input from the other directors. -Director Armstrong’s concern is that the residents will be paying for this. He would like to see the Numbers so we can know how much this will affect each home. Director Carr agreed that the cost would be passed on to the residents and would not like to move forward. -Director Sanders explained that with the estimated amount of $30,000 that the Town spends on irrigation cost each year divided by the number of residential customers, the cost to residents would be less than $1.50 and when Solona is figured in, it makes it less than $1 per residential account. Director Carr stated he feels the Town can cut cost in other ways. -President Moss said he thinks that this would cause Solana great concern. Director Armstrong stated that he is also concerned that this would adversely affect our relationship with Solana. -Director Carr suggested possibly combining usage on meters to give all of our commercial users who use more than 50,000 gallons per month a discount. Director Carr suggested possibly dropping the rate for the lowest usage to benefit commercial users. -President Moss would like Director Carr to work with District Manager Scott to review this option and see if it would be beneficial. -President Moss said he would like to review the numbers and see if setting a higher rate for higher usage would be beneficial. -President Moss brought up that several cities north of Dallas are now in stage 3 water restrictions and will be raising their rates by 30%. No action taken 8. Review and Approve Monthly Financial Report(s) a. September 2011 Director Carr said he would like to review financials with Senior Accountant Renae Gonzales. Motion by Carr to and seconded by Sanders. Ayes 4 Nays 0 Absent 1 TCMUD No. 1 Page 285 of 291 Meeting Date: December 20, 2011 9. Discuss and take appropriate action regarding the Ground Storage Tank. To include fencing and all related topics. -Director Thomas through President Moss stated that only one realtor has stated the tanks would reduce the value of the homes. Director Thomas would like to put up live oak trees along the fence line instead of a fence at a cost of $43,000. -District Manager Scott clarified that the cost of the fence is going to be approximately $34,000 total and he is waiting on an official bid from the vendor. Director Sanders inquired regarding the cement post. Director Carr noted that the current fences are in average or good condition. Director Sanders and Armstrong said they would like to make sure that we check with the residents as to what they want. -President Moss said he would like to get a cost variance on the fence vs. trees and then discuss and talk to residents. -Director Carr would like District Manager Scott to talk with Adam Adams and get a price on trees. No action taken 10. Review and Approve Minutes a. September 20, 2011 - Regular Session Minutes Motion made by Director Sanders, seconded by Director Carr, to approve the meeting minutes as amended from September 2011. Motion carried unanimously. Ayes 4 Nays 0 Absent 1 Convene into Closed Session 8:15 11. PURSUANT TO TEXAS GOVERNMENT CODE, ANNOTATED, SECTION 551.071 (1) & (2) "CONSULTATION WITH ATTORNEY", RESPECTIVELY, THE BOARD WILL ENTER INTO CLOSED SESSION TO DISCUSS THE FOLLOWING: A. Consultation with Attorney on Pending or Contemplated Litigation or 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 conflict with the Texas Open Meetings Act: 12. Legal advice relative to state reporting requirements. RECONVENE INTO REGULAR SESSION 8:56pm Discuss and take appropriate action regarding executive session. No Action Taken 13. Set Next Meeting Date: a. November 15, 2011 at 7:00pm. 14. Items for Future Agendas TCMUD No. 1 Page 286 of 291 Meeting Date: December 20, 2011 a. Develop use policy and procedures for the Fire Department training room . Adjourn Meeting adjourned at 8:57 p.m. _____________________________________ Jim Moss, President SEAL _____________________________________ Kevin R. Carr, Secretary-Treasurer _____________________________________ Laurie Slaght, Interim MUD 1 Secretary TCMUD No. 1 Page 287 of 291 Meeting Date: December 20, 2011 100 Municipal Drive Trophy Club, Texas 76262Trophy Club Entities Legislation Details (With Text) File #: Version:12011-209-M1 Name: Status:Type:M1 Agenda Item Draft File created:In control:12/12/2011 Trophy Club Municipal Utility District No. 1 On agenda:Final action:12/20/2011 Title:Set Next Meeting Date Attachments:January 2012 Calendar.pdf Action ByDate Action ResultVer. Title Set Next Meeting Date TCMUD No. 1 Page 288 of 291 Meeting Date: December 20, 2011 TCMUD No. 1Page 289 of 291Meeting Date: December 20, 2011 100 Municipal Drive Trophy Club, Texas 76262Trophy Club Entities Legislation Details (With Text) File #: Version:12011-219-M1 Name: Status:Type:M1 Agenda Item Draft File created:In control:12/13/2011 Trophy Club Municipal Utility District No. 1 On agenda:Final action:12/20/2011 Title:PURSUANT TO SECTION 551.071 OF THE TEXAS GOVERNMENT CODE, TO CONDUCT A PRIVATE CONSULTATION WITH THE DISTRICT’S ATTORNEY ON A MATTER OF PENDING OR CONTEMPLATED LITIGATION: TEXAS WORKFORCE COMMISSION APPEAL NO. 1524754-1-1. Attachments: Action ByDate Action ResultVer. Title PURSUANT TO SECTION 551.071 OF THE TEXAS GOVERNMENT CODE, TO CONDUCT A PRIVATE CONSULTATION WITH THE DISTRICT’S ATTORNEY ON A MATTER OF PENDING OR CONTEMPLATED LITIGATION: TEXAS WORKFORCE COMMISSION APPEAL NO. 1524754-1-1. TCMUD No. 1 Page 290 of 291 Meeting Date: December 20, 2011 100 Municipal Drive Trophy Club, Texas 76262Trophy Club Entities Legislation Details (With Text) File #: Version:12011-217-M1 Name: Status:Type:M1 Agenda Item Draft File created:In control:12/13/2011 Trophy Club Municipal Utility District No. 1 On agenda:Final action:12/20/2011 Title:Discuss and take appropriate action regarding Executive Session item(s). a. Texas Workforce Commission Appeal No. 1524754-1-1. Attachments: Action ByDate Action ResultVer. Title Discuss and take appropriate action regarding Executive Session item(s). a. Texas Workforce Commission Appeal No. 1524754-1-1. TCMUD No. 1 Page 291 of 291 Meeting Date: December 20, 2011