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CITY COUNCIL MEETING
CITY COUNCIL CHAMBERS
100 MAIN STREET
MAY 3, 2005
5:15 P.M. - PRE-COUNCIL AGENDA
EXECUTIVE CONFERENCE ROOM
THIRD FLOOR
PC-1. Discussion of the format for the Canvass of the May 7, 2005, General and
Special Election results and Administering the Oath of Office
PC-2. Presentation of citizen comments from the April 27, 2005, neighborhood
meeting regarding the Ground Storage Water Tank
PC-3. Discussion of proposed Colleyville Economic Development Corporation (CEDC)
refunding outstanding 1997 and 2000 Sales Tax Revenue Bonds
PC-4. Presentation of the Quarterly Investment Report
PC-5. Discussion of the May 3, 2005, City Council regular agenda items
REGULAR AGENDA
6:45 P.M. - CALL TO ORDER
ROLL CALL
1. EXECUTIVE SESSION - In accordance with Texas Government Code Chapter
551, Subchapter D
100 MAIN STREET COLLEYVILLE, TEXAS 76034 (817) 503-1000
Sec. 551.071 -
Sec. 551.071 -
Sec. 551.071 -
Sec. 551.072 -
Sec. 551.072 -
Sec. 551.072 -
Sec. 551.074 -
Sec. 551.087 -
INVOCATION:
Consultation with Attorney on Legal Issues Raised by Public
Hearing or Action Items on the Agenda
Brian K. Meroney vs. City of Colleyville
Legal - Potential Litigation - Pecan Village Partners
Property Acquisition
Proposed Sale of Property - 5500 Colleyville Boulevard
Proposed Sale of Property - 5100 Colleyville Boulevard
Personnel - Deliberate the assignment, duties, performance
and evaluation of the City Manager
Economic Development Conference with City Manager and
staff to discuss and deliberate commercial and financial
information received from business prospect(s) the City
seeks to have locate, stay, or expand within the City; with
which business(es) the City is pursuing and conducting
economic development negotiations
7:30 P.M. - RESUME REGULAR MEETING
COUNCIL CHAMBERS
Sister Dorothy Eggering, Good Shepherd Catholic Community
PLEDGE OF ALLEGIANCE: City Attorney Matthew Boyle
2. CORRESPONDENCE, MISCELLANEOUS REPORTS OF MEETINGS
ATTENDED BY THE COUNCIL AND CITY OFFICIALS AND
ANNOUNCEMENTS, PROCLAMATIONS OR PRESENTATIONS
PROCLAMATION - In recognition of Covenant Christian Academy (CCA) Fine Arts
Department 2005 TAPPS 2A State Art Championship - Mr. Ted
Rose, CCA Director of Fine Arts
PROCLAMATION - I n recognition of Motorcycle Safety and Awareness Month - Chris
Fisher, Texas Motorcycle Roadriders Association
PLAQUES - In recognition of service on the Celebrate Colleyville Steering
Committee - Dezann Korbuly, Linda Newton and Marcus Miller
PRESENTATION - In recognition for receiving the Government Finance Officers
Association Distinguished Budget Presentation Award for the
Fiscal Year Beginning October 1, 2004 - Terry Leake, Finance
Director and Finance Department staff
PROCLAMATION - In recognition of National Memorial Police Week, May 15-21,2005
- Police Chief Tommy Ingram and Officer Bill Hudgins
CONSENT:
3. READING AND PUBLIC HEARING - Resolution R-05-2539 - Consent Items:
a. Approval of Minutes of the regular City Council meeting of April 19, 2005
b. Approval of broker/dealer firms for investment purchases
PUBLIC HEARINGS:
4. SECOND READING AND PUBLIC HEARING - Ordinance 0-05-1522 -
Approval of a Zoning Change from AG to R40 on 1.155 acres, out of the S.C.H.
Witten Survey, Abstract 1619, located at 5500 Montclair Drive, Case Z-05-009
5. SECOND READING AND PUBLIC HEARING - Ordinance 0-05-1523 -
Approval of a Zoning Change from AG to R40 and R20 on 24.108 acres, out of
the William Dunn Survey, Abstract 404, located at 6805 Pleasant Run Road,
Case Z-05-008
G. SECOND READING AND PUBLIC HEARING - Ordinance 0-05-1524 -
Approval to amend Section 2 of Ordinance 0-04-1493 relating to the Fiscal Year
2004-2005 Budget, to authorize the expenditure of $975,000 of unappropriated
fund balance of the General Fund for the construction of the Senior Citizen's
Center on the site of the former City Hall Building at 5400 Bransford Road
7. FIRST READING AND PUBLIC HEARING - Ordinance 0-05-1525 - Approval
of a Zoning Change from AG and R30 to R40 on 2.55 acres located at 6112 and
6115 Hunter Lane, Case Z-05-011
8. READING AND PUBLIC HEARING - Resolution R-05-2540 - Approval of a
Preliminary Plat on 24.108 acres out of the William Dunn Survey, Abstract 404
located at 6805 Pleasant Run Road, Case P-05-011
9. READING AND PUBLIC HEARING - Resolution R-05-2541 - Approval of three
Retail Development Agreements by and between the City of Colleyville and
Melvin & Martindale II, Ltd.
REPORTS:
10. PLANNING AND ZONING COMMISSION MINUTES - March 28, 2005
CITIZEN COMMENTS:
11. CITIZEN COMMENTS/PRESENTATIONS REGARDING ITEMS NOT ON THE
AGENDA
ACTION/RESOLUTION:
12. DISCUSSION AND CONSIDERATION OF A RESOLUTION RATIFYING
COUNCIL AGENDA ACTION FOR THE MEETING OF MAY 3, 2005 - Reading
and Public Hearing - Resolution R-05-2542
ADJOURNMENT:
13. ADJOURNMENT
I the5rOeobY certify the ab da w~s p02 on '7 bUI~tin boards at City Hall on Friday Apri129, 2005,
a~/A<M.~ l~
c~lu,ia st,gleton, TRMC
City Secretary
Any matter on this agenda may, at the discretion of the governing body, be opened for
public comment and discussion.
If you plan to attend this public meeting and have a disability that requires special
accommodations, please advise the City Secretary at least 48 hours in advance at
817.503.1133, and reasonable accommodations will be made to assist you.
PRE COUNCIL
MEETING DATE:
ITEM#:
<n@nC1l AGENDA BRIEFING
le:-;;'\$
05/03/05
PC-1
CITY MANAGER I ""'.
DEPARTMENT HEAD I
FINANCE REVIEW IN/A
Previous Action: None
DEPARTMENT: CITY COUNCIL
SUBJECT : Discussion of the format for the Canvass of the May
7, 2005, General and Special Election results and
Administering the Oath of Office
The May 7,2005, General and Special Election results will be canvassed at the May 17, 2005,
City Council meeting in accordance with the Texas Election Code, which states, the period to
conduct the official canvass of the election results is not earlier than the eighth day nor later
than the eleventh day after the election. Two members of the governing body constitute a
quorum for purpose of canvassing an election. After the election results are canvassed, the
Mayor will present a Certificate of Election to each candidate who is elected to office.
The City Charter, Section 3.01 states, "Regular terms of office shall commence at the
beginning of the first regular meeting of the Council following the election as provided in Article
4". At the May 17, 2005, Council meeting, the current and newly elected Councilmembers will
attend the Pre Council meeting. The newly elected Councilmembers must take the Oath of
Office prior to attending Executive Session.
Staff is requesting direction from Council regarding the format of the May 17, 2005, Council
meeting. Two options are provided for your consideration.
Option 1
a. 5:15 p.m. -
b. 6:00 p.m. -
c. 6:10 p.m.
d. 6:15 p.m. -
e. 6:45 p.m. -
Pre Council meeting is held at 5:15 p.m.
The regular meeting is convened, and the results of the
May 7, 2005, General and Special Election are canvassed
and the Mayor presents a Certificate of Election to each
candidate who is elected to office.
The Oath of Office is administered to the Mayor and
Councilmembers
A reception follows the Oath
The newly elected Mayor and Councilmembers are
seated, the regular Council meeting convened and the
Mayor announces that the Council will convene to Executive
Session and reconvene at 7:30 p.m.
Option 2
a. 5:15 p.m. -
b. 6:45 p.m. -
c. 7:30 p.m. -
d. 7:40 p.m. -
e. 7:45 p.m. -
f. 8:00 p.m. -
Pre Council Briefing
Page 2 of 2
Pre Council meeting is held at 5: 15 p.m.
The regular meeting is convened and the Mayor
announces that the Council will convene to Executive
Session and reconvene at 7:30 p.m.
The regular Council meeting convenes at 7:30 p.m., the
results of the May 7, 2005, General and Special Election are
canvassed and the Mayor presents a Certificate of Election
to each candidate who is elected to office.
The Oath is administered to the Mayor and Councilmembers
Reception
The new Mayor and Council members are seated and the
Council meeting is reconvened
PRE-COUNCIL
C\(f Of
cae", AGENDA BRIEFING
Ic-:til:5
MEETING DATE:
ITEM # :
05/03/05
PC-2
CITY MANAGER I
DEPARTMENT HEAD
FINANCE REVIEW ' N/ A
Previous Action: None
DEPARTMENT : CITY COUNCIL
SUBJECT: Presentation of citizen comments from the April 27,
2005, neighborhood meeting regarding the Ground
Storage Water Tank
City staff will be presenting a report summarizing citizen's comments from the public meeting
for the proposed 5 million gallon ground storage water tank that was held on Wednesday, April
27, 2005 at the Colleyville Centre.
L. D. Lockett Ground Storage Tank and Pump Station
This document is a local area petition to reduce the size of the proposed
water tower inside Reagan Park on L.D. Lockett.
The Current Proposal by the City of Colleyville is for a 5 million gallon tank and
pump station to be located within the new Reagan Park Complex. The specifics provided
by the city thus far are:
* The construction of the tank & pump station is estimated to take one year to build at a
cost of 4.9 MILLION.
* It will be 56 feet tall at the top of the dome (4 stories).
* It will be 150 feet across (half the length of a football field, 2 times the width of city
hall),
* It will contain 8-10 pumps.
* Water pipes will be run under the center of Lowrie and L.D. Lockett Roads. It is
estimated that they will take 6 to 9 months to complete at an additional cost of
approximately 1.8 million. Thru roads will impassible at times during construction.
Colleyville's has four water tanks to supply the Colleyville population of21,000
residents. It is estimated that Colleyville will be built out at 25,000 residents in the near
future. The current water system in place is straining during peak summer times to meet
today's demands and anticipated to be inadequate to meet future demands.
Resident Complaint and Justification for Reduction in Size of Tank at
the Reagan Park Site:
First: It is apparent that there is a need to increase Colleyville's water storage; however
a 50% increase in storage is excessive and unnecessary. Consultation with civil
engineering firms have provided methods for water storage capacity which shows that
only a 25% increase is warranted. This reduction alone would not only decrease the cost
by several million dollars, but also reduce the objections of building a storage facility
which would be significantly smaller.
Second: The new storage facility proposed will place 51 % of the cities water supply in
one location. Based on conversations with other engineering firms, we found that most
city systems are designed to be more evenly distributed around the community. By
spreading out the storage to several locations, water supplies can be better protected in
the event of utility outages and during required servicing which takes 3-6 months to
complete.
Third: Placing a massive structure within a neighborhood will negatively affect property
values. No matter how well landscaped, a utility the size of half a football field and four
stories high is an eyesore. It will be essentially the height and twice the width of the
Colleyville City Hall building. No one can make the argument that a facility of that size
will blend with existing residential homes and will not stand out.
Suggestions to minimize the impact on property values on the
neigh borhood:
1. Substitute 2 water storage stations at two separate sites within the city. Each of the
storage tanks should be approximately 1.2 million gallons in size.
2. If the current proposal stands, address:
a. Sound - Add walls and/or bent duct work to abate and absorb the sound
produced by pumps within the compound.
b. Site - Place the base of the rank 10-20 feet below existing grade.
- The dome top could be modified from the 15 foot crown to a more
palatable yet functional slope.
Further Concerns Residents Have About This Proposal:
* Where is the money coming from to fund the construction of the water tank & pumps,
the additional water lines and repair of L.D. Lockett and Lowrie? Is the money in the
budget already? Will there be a bond election? Will our water bills go up to cover the
cost, and if so by how much?
* The company who has been given the bid is the same one that recommended this size
facility. Did the other bid companies conduct their own independent study, or simply go
along with the specifications recommended? Is the city confident that this much storage
is what we really need, or just what someone wants to sell us?
* During construction how will public services be administered and will they be
compromised (garbage, EMS)? How will public access be addressed?
May 3, 2005
To: City of Colleyville
Subject: L. D. Lockett Water Storage Tank (lSO-feet in diameter by 50 feet high)
And Water Transmission Lines down Lowrie Road
I have lived at 5505 Lowrie Road for the past 40 years. This residential location has been in ColleyviJlc city
limits and Hurst city limits; but presently, is just in Tarrant County. My building permit was granted hy the city
of Hurst in 1964.
Tarrant County currently maintains Lowrie Road and its present surface is in top-notch condition. The area
from my northern property line to the south and the property east and west of Lowrie Road arc in Tarrant
County only. To my knowledge, there are no plans to incorporate this area into either the city limits of
Colleyville or Hurst.
Lowrie Road has been a problem for home owners ever since I built my home here. The water I recei \c comes
from Colleyville and I am charged an out-of-town rate which I think is extremely high.
It seems to me that these Water Transmission Lines you plan to run down the middle of Lowrie Road will force
the users of this water to pay the expensive out-of-town rates as I and the several other home owr:.ers on Lowrie
Road who are in Tarrant County but not in Colleyville/Hurst.
How can the city of Colleyville run a Transmission Line in front of my home without the approval of the
county? When this Transmission Line is run down the middle of Lowrie Road in the fall off 2005, its
construction will run into the winter of 2005-2006; and probably will not be returned to the good street SurtilCC
we now have.
These Water Transmission Lines could have gone through the new housing developments before/hey wen::
built. Why should the Transmission Lines go down Lowrie Road and not through the new Colleyvillc/JIurst
additions?
These Water Transmission Lines could go through Reagan Park, U.S. Government FAA (VOR) propeliy.
through the streets of new housing additions that are in Colleyville/Hurst city limits; and not down 1.0\\Tic
Road. How about using the creek bed behind the old Reagan stock tank?
1 would appreciate your considering this request. Thank you.
Freddie Fitch
5505 Lowrie Road
Colleyville, Texas 76034
Telephone: 817-281-1090
May 3, 2005
To: City of CoIleyville
Subject: L. D. Lockett Water Storage Tank (l50-feet in diameter by 50 feet high)
And Water Transmission Lines down Lowrie Road
I have lived at 5505 Lowrie Road for the past 40 years. This residential location has been in Colleyvilk city
limits and Hurst city limits; but presently, is just in Tarrant County. My building permit was granted by j he ci1y
of Hurst in 1964.
Tarrant County currently maintains Lowrie Road and its present surface is in top-notch condiiion, The ared
from my northern property line to the south and the property east and west of Lowrie Road art~ in 'I arrant
County only. To my knowledge, there are no plans to incorporate this area into either the city limits of
Colleyville or Hurst.
Lowrie Road has been a problem for home owners ever since I built my home here. The \vatet" ] rccei\'c cmn,'s
from Colleyville and I am charged an out-of-town rate which I think is extremely high.
It seems to me that these Water Transmission Lines you plan to run down the middle of LovITie Road will force
the users of this water to pay the expensive out-of-town rates as I and the several other home owners on Lowrie
Road who are in Tarrant County but not in Colleyville/Hurst.
How can the city ofColleyville run a Transmission Line in front of my home without thc approval urlhe
county? When this Transmission Line is run down the middle of Lowrie Road in the fall off 200:\ its
construction will run into the winter of 2005-2006; and probably will not be returned to the good street surface
we now have.
These Water Transmission Lines could have gone through the new housing developments bef'H"I? they were
built. Why should the Transmission Lines go down Lowrie Road and not through the new Colleyvil1c/Hurst
additions?
These Water Transmission Lines could go through Reagan Park, U.S. Government FAA (VOR) property,
through the streets of new housing additions that are in Colleyville/Hurst city limits; and not do\vn 1 O\\TI(,
Road. How about using the creek bed behind the old Reagan stock tank?
I would appreciate your considering this request. Thank you.
Freddie Fitch
5505 Lowrie Road
Colleyville, Texas 76034
Telephone: 817-281-1090
May 3, 2005
To: City of Colleyville
Subject: 1" D. Lockett Water Storage Tank (I 50-feet in diameter by 50 feet high)
And Water Transmission Lines down Lowrie Road
I have lived at 5505 Lowrie Road for the past 40 years. This residential location has been in Collcyvilic city
limits and Hurst city limits; but presently, is just in Tarrant County. My building permit was granted by the city
of Hurst in 1964.
Tarrant County currently maintains Lowrie Road and its present surface is in top-notch conditlon The area
from my northern property line to the south and the property east and west of Lowrie Road arc in Tarrant
County only. To my knowledge, there are no plans to incorporate this area into either the city limits of
Colleyville or Hurst.
Lowrie Road has been a problem for home owners ever since I built my home here. The water 1 receive comes
from Colleyville and I am charged an out-of-town rate which I think is extremely high.
It seems to me that these Water Transmission Lines you plan to run down the middle of Lowrie H.oad will force
the users of this water to pay the expensive out-of-town rates as I and the several other home o\vncc.; on Lovvric
Road who are in Tarrant County but not in Colleyville/Hurst.
How can the city ofColleyville run a Transmission Line in front of my home without the a.pproval oCtile
county? When this Transmission Line is run down the middle of Lowrie Road in the fall off2005. its
construction will run into the winter of 2005-2006; and probably will not be returned to the good street surface
we now have.
These Water Transmission Lines could have gone through the new housing developments before they \\jcre
built. Why should the Transmission Lines go down Lowrie Road and not through the new Collcyville/Hurst
additions?
These Water Transmission Lines could go through Reagan Park, U.S. Government FAA (VOR) propeny,
through the streets of new housing additions that are in Colleyville/Hurst city limits; and 110t down l.ovvrie
Road. How about using the creek bed behind the old Reagan stock tank?
I would appreciate your considering this request. Thank you.
Freddie Fitch
5505 Lowrie Road
Colleyville, Texas 76034
Telephone: 817-281-1090
"
L. D. Lockett Ground Storage Tank and Pump
Petition to reduce the size of the water tower
May 2005
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L. D. Lockett Ground Storage Tank and Pump
Petition to reduce the size of the water tower
May 2005
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May 2005
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Petition to reduce the size of the water tower
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PRE COUNCIL CC~~~n0 AGENDA BRIEFING
1t.'X,,$
MEETING DATE: 05/03/05 CITY MANAGER I
ITEM # : PC-3 DEPARTMENT HEAD '
REPORT:
FINANCE REVIEW
Previous Action: None
N/A
DEPARTMENT: FINANCE
SUBJECT: Discussion of proposed Colleyville Economic
Development Corporation (CEDC) refunding
outstanding 1997 and 2000 Sales Tax Revenue
Bonds
At the April 28, 2005, the CEDC board discussed a potential refunding of the outstanding 1997
and 2000 sales tax revenue bonds issued by the Corporation due to current market conditions.
In order to eliminate many of the bond issuance costs and achieve net present value savings,
a private placement scenario with a financial institution would be proposed. The bond
issuance scenarios discussed are as follows:
. Refund existing debt for a net present value savings of $882,811.36 and eliminate the
final three years of debt off the issue (FY 2025-2027)
. Refund existing debt and taking out the savings as cash ($940,000) and the bonds
would be repaid through FY 2027
. Refund existing debt and issue $2,000,000 in new debt and the bonds would be repaid
through FY 2029 with an enhancement of $40,000 generated by increased sales tax
receipts to the CEDC
. Refund existing debt and issue $2,300,000 in new debt and the bonds would be repaid
through FY 2029 with an enhancement of $80,000 generated by increased sales tax
receipts to the CEDC
Proceeds received from taking out the savings as cash or the issuance of new debt could
provide funding for the projects included on the CEDC five year plan for FY 2006-2009.
Projects discussed during the April 28, 2005 meeting included improvements for McPherson
Park, funding for the proposed Senior Center and park land acquisition. The CEDC will be
further discussing possible projects at their next meeting.
The Board's next meeting will be May 11, 2005 at 9:30 a.m. to discuss the potential refunding
scenarios and projects for which the proceeds could be used. If the Board decides to move
forward with the refunding, it would vote to issue the bonds on June 7, 2005. That action would
be presented to the City Council later that evening for ratification at the regularly scheduled
Council meeting. If a decision is made to move forward with the program, the transaction
would be funded July 14, 2005.
Attachment
. CEDC 5 year CIP
. Refunding and CIP Program Report (First Southwest Company)
COLLEYVILLE ECONOMIC DEVELOPMENT COPRORATION
ECONOMIC DEVELOPMENT CAPITAL IMPROVEMENT PROGRAM FY 2005 - FY 2009
EXHIBIT A
FISCAL YEAR
PROJECTED
2004
2005
2006
2007
2008
2009
BEGINNING FUND BALANCE
$828,549
$947,548
$512,617
$405,440
$433,289
$495,947
PROJECTED 1/2 CENT SALES TAX REVENUE $809,000 $847,800 $890,190 $925,798 $962,830 $1,001,343
INTEREST INCOME $9,780 $18,951 $10,252 $8,109 $8,666 $9,919
USE OF FUND BALANCE $147,793 $677,376 $349,000 $216,000 $182,000 $138000
TOTAL REVENUES $966,573 $1,544,127 $1,249,442 $1,149,906 $1,153,495 $1149,262
OPERATING:
ADMINISTRATIVE $5,000 $5,000 $5,000 $5,000 $5,000 $5,000
1997 DEBT SERVICE & 1.4 TIMES COVERAGE $666,044 $665,606 $666,306 $666,306 $665,606 $664,049
2000 DEBT SERVICE & 1.4 TIMES COVERAGE $174,517 $179,549 $177,360 $175,174 $179,767 $177142
CAPITAL:
COLLEYVILLE CENTER CHAIR REPLACEMENT $0 $50,000 $0 $0 $0 $0
MC PHERSON LAND PARK PLAN $0 $125,000 $150,000 $150,000 $150,000 $150,000
PARK LAND PURCHASE $0 $0 $150,000 $150,000 $150,000 $150000
SCHOOUSOCCER FIELD PARK LAND NOTE $94,380 $0 $0 $0 $0 $0
SENIOR CENTER DESIGN/FURNISHINGS $0 $125,000 $100,000 $0 $0 $0
TRAILS GRANT MATCH $0 $393,000 $0 $0 $0 $0
TOTAL EXPENDITURES $939,941 $1,543,155 $1,248,667 $1,146,480 $1,150,373 $1146,191
EXCESS REVENUES OVER EXPENDITURES $26,631 $972 $776 $3,427 $3,122 $3,070
ADD BACK.4 TIMES BOND COVERAGE RATIO $240,160 $241,473 $241,048 $240,423 $241,535 $240,340
ENDING FUND BALANCE
$947,548
$512,617
$405,440
$433,289
$495,947
$601,357
ASSUMPTIONS: FY 2006: 5% ANNUAL SALES TAX INCREASE / FY 2007 - 2009: 4% GROWTH DUE TO COLLEYVILLE BLVD,CONSTRUCTION
City of Colleyville, Texas
Colleyville Economic Development Corporation
4B Park Development Corporation
Refunding and CIP Funding Program
/
April 28, 2005
Prepared By:
~ I. .First Southwest ComDa~
::=: Investment Bankers Since "1946
City of Colleyville, Texas
Colleyville Economic Development Corporation
4B Park Development Corporation
Table of Contents
Strategic Assumptions and Financial Summary
Page
3
Cash Flow Detail
Scenario 1
Scenario 2
Scenario 3
4
5
6
Projected Schedule of Events
7
Appendices (Detailed Financin1! Information)
Scenario 1 Details
A
Scenario 2 Details
B
Scenario 3 Details
C
~ I First Southwest Compa~
:; Investment Bankers Since 1946
-
City of CoUeyville, Texas
Colleyville Economic Development Corporation
4B Park Development Corporation
Strategic Assumptions and Financial Summary
Strategic Assumptions
1) Fund CIP based on
$927,977 Annual Cash Flow
5) 1.40x Max Annual Debt Service Coverage
2) Private Placement of Debt
6) No Debt Service Reserve Fund
3) Amortization: 22-25 Years
7) Bond Rating:
Underlvine:
None
Insured
None
4) Pledge: Sales Tax Revenues
Financial Summary
Ref wi 940K proceeds Ref wi $2M proceeds Ref wi $2.3M proceeds
Scenario 1 Scenario 2 Scenario 3
Par Amount of Bonds $ 8,525,000 $ 9,600,000 $ 9,900,000
Transfers from Prior Issue Debt Service Funds 107,000 92,000 92,000
Total Sources $ 8,632,000 $ 9,692,000 $ 9,992,000
Costs of Issuance $ 140,000 $ 140,000 $ 140,000
Deposit to Net Cash Escrow Fund 7,550,055 7,550,055 7,550,055
Deposit to Project Construction Fund 940,000 2,000,000 2,300,000
Rounding Amount 1,945 1,945 1,945
Total Uses $ 8,632,000 $ 9,692,000 $ 9,992,000
Total Net Debt Service $ 13,168,071 $ 15,421,413 $ 16,250,715
Average Net Debt Service $ 598,549 $ 642,559 $ 650,029
Debt Service 22 Years 24 Years 25 Years
True Interest Cost(}) 4.10% 4.15% 4.20%
Present Value Savings ($) $ 841,627 $ 817,838 $ 778,110
Present Value Savings (% ) 11.682 % 11.352% 10.801 %
(1) Preliminary; subject to change.
-
First Southwest Company
Page 3
Colleyville EDC Refunding and CIP RevisedXLS
Preliminary
$8,525,000
CoIleyviIle Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & Improvement Bonds
Series 2005
Cash Flow - Scenario 1
Date
09/3012005
09/30/2006
09/3012007
09/30/2008
09/3012009
09/3012010
09/3012011
09/3012012
09/3012013
09/3012014
09/3012015
09/3012016
09/3012017
09/3012018
09/30/2019
09/30/2020
09/3012021
09/3012022
09/3012023
09/3012024
09/3012025
09/30/2026
09/30/2027
Total
Total P+I
78,643,13
378,910,00
578,477 .50
578,637,50
578,387,50
607,112.50
609,710,00
606,795,00
613,265,00
609,120,00
609,462,50
609,190,00
608,302,50
606,800,00
609,580,00
611,540,00
607,782,50
608,307,50
608,012,50
611,795,00
614,552.50
611,387.50
612,300.00
$13,168,070.63
-
Existing
DIS
8,312,50
230,968.75
29,531.25
32,812.50
30,937.50
$332,562.50
Net New DIS
86,955,63
609,878.75
608,008,75
611,450.00
609,325.00
607,112.50
609,710,00
606,795,00
613,265,00
609,120,00
609,462,50
609,190,00
608,302.50
606,800,00
609,580,00
611,540,00
607,782,50
608,307,50
608,012,50
611,795,00
614,552,50
611,387,50
612,300,00
$13,500,633.13
Old Net DIS
87,138,13
602,620,01
601,057,51
603,838,76
600,851.26
602,051,26
602,336,26
601,650,01
604,905,63
602,197,50
603,531.25
603,751.88
602,868,13
600,921.25
602,515,00
602,487,50
601,058,75
603,077,50
602,030,00
602,696.25
605,000.00
605,000.00
605,000,00
$13,348,583.84
Savings
182,50
(7,258,74)
(6,951.24)
(7,611.24)
(8,473,74)
(5,061.24)
(7,373,74)
(5,144,99)
(8,359.37)
(6,922.50)
(5,931.25)
(5,438.12)
(5,434.37)
(5,878,75)
(7,065,00)
(9,052.50)
(6,723.75)
(5,230,00)
(5,982,50)
(9,098,75)
(9,552.50)
(6,387.50)
(7,300,00)
(152,049.29)
-
First Southwest Company
Page 4
Colleyville EDC Refunding and CIP Revised.XLS
$9,600,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & hnprovement Bonds
Series 2005
Cash Flow - Scenario 2
Existing
Date Total P+I D/S Net New D/S Old Net D/S Savings
09/30/2005 89,640.01 8,312,50 97,952,51 102,138,13 4,185,62
09/30/2006 417,985.00 230,968,75 648,953,75 602,620,01 (46,333,74)
09/30/2007 622,797.50 29,531.25 652,328,75 601,057.51 (51,271.24)
09/30/2008 623,045.00 32,812,50 655,857,50 603,838,76 (52,018,74)
09/30/2009 617,981.25 30,937,50 648,918,75 600,851.26 (48,067.49)
09/30/2010 651,880,00 651,880,00 602,051.26 (49,828,74)
09/30/2011 649,637,50 649,637,50 602,336,26 (47,301.24)
09/30/2012 651,876,25 651,876,25 601,650,01 (50,226.24)
09/30/2013 653,492.50 653,492,50 604,905,63 (48,586,87)
09/30/2014 649,590,00 649,590,00 602,197,50 (47,392.50)
09/30/2015 650,168,75 650,168,75 603,531.25 (46,637.50)
09/30/2016 655,021.25 655,021.25 603,751.88 (51,269.37)
09/30/2017 654,147,50 654,147,50 602,868.13 (51,279.37)
09/30/2018 647,755,00 647,755.00 600,921.25 (46,833.75)
09/30/2019 655,636,25 655,636,25 602,515.00 (53,121.25)
09/30/2020 652,687,50 652,687,50 602,487.50 (50,200,00)
09/30/2021 649,116,25 649,116,25 601,058.75 (48,057,50)
09/30/2022 654,715.00 654,715,00 603,077.50 (51,637,50)
09/30/2023 654,380,00 654,380,00 602,030,00 (52,350,00)
09/30/2024 648,318,75 648,318,75 602,696,25 (45,622,50)
09/30/2025 656,323,75 656,323,75 605,000,00 (51,323,75)
09/30/2026 653,291.25 653,291.25 605,000,00 (48,291.25)
09/30/2027 654,325,00 654,325,00 605,000,00 (49,325,00)
09/30/2028 654,321.25 654,321.25 (654,321,25)
09/30/2029 653,280,00 653,280,00 (653,280.00)
Total $15,421,412.51 $332,562.50 $15,753,975.01 $13,363,583.84 (2,390,391.17)
-
First Southwest Company
Page 5
Colleyville EDC Refunding and CIP Revised.XLS
Preliminary
$9,900,000
ColIeyvilIe Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & Improvement Bonds
Series 2005
Debt Service Comparison - Scenario 3
Existing
Date Total P+I D'S Net New D'S Old Net D'S Savings
09/3012005 93,555,00 8,312,50 101,867.50 102,138.13 270,63
09/3012006 430,485.00 230,968,75 661,453.75 602,620.01 (58,833,74)
09/3012007 630,550,00 29,531.25 660,081.25 601,057,51 (59,023,74)
09/30/2008 626,205.00 32,812,50 659,017.50 603,838.76 (55,178,74)
09/3012009 631,440.00 30,937,50 662,377 ,50 600,851.26 (61,526,24)
09/30/2010 660,520,00 660,520,00 602,051.26 (58,468,74)
09/30/2011 658,550,00 658,550,00 602,336.26 (56,213,74)
09/30/2012 661,055.00 661,055.00 601,650.01 (59,404,99)
09/30/2013 658,035.00 658,035,00 604,905,63 (53,129.37)
09/3012014 659,490,00 659,490.00 602,197.50 (57,292,50)
09/3012015 660,315.00 660,315,00 603,531.25 (56,783,75)
09/30/2016 660,510,00 660,510,00 603,751.88 (56,758,12)
09/30/2017 660,075.00 660,075.00 602,868,13 (57,206,87)
09/30/2018 659,010.00 659,010.00 600,921.25 (58,088,75)
09/3012019 662,210,00 662,210.00 602,515,00 (59,695,00)
09/30/2020 659,675.00 659,675.00 602,487.50 (57,187,50)
09/30/2021 661,405.00 661,405.00 601,058.75 (60,346,25)
09/3012022 657,400.00 657,400.00 603,077.50 (54,322,50)
09/30/2023 657,660,00 657,660.00 602,030,00 (55,630,00)
09/3012024 661,975,00 661,975,00 602,696.25 (59,278,75)
09/3012025 660,345,00 660,345,00 605,000.00 (55,345,00)
09/3012026 662,770,00 662,770,00 605,000,00 (57,770,00)
09/30/2027 659,250,00 659,250,00 605,000.00 (54,250.00)
09/3012028 649,995,00 649,995,00 (649,995,00)
09/30/2029 654,795,00 654,795,00 (654,795.00)
09/3012030 653,440,00 653,440,00 (653,440.00)
Total $16,250,715.00 $332,562.50 $16,583,277.50 $13,363,583.84 (3,219,693.66)
-
First Southwest Company
Page 6
Colleyville EDC Refunding and CIP Revised.XLS
City of Colleyville, Texas
Colleyville Economic Development Corporation
4B Park Development Corporation
Refunding and New Money - Proposed Schedule of Events
Mav-OS
S M T W T F S
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31
Date
9-May-OS
Day
Monday
Action By
4B Board
7-Jun-OS
Tuesday
4B Board
4B Board
City Council
30 Days
Bond Counsel
J un-OS
S M T W T F S
1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30
Jul-OS
S M T W T F S
1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31
Action Item
Colleyville 4B Board consider resolution calling a public
hearing for undertaking projects
Colleyville EDC has public hearing for undertaking
projects
Consider resolution issuing Sales Tax Revenue
Refunding and Improvement Bonds
Consider resolution approving CEDC's issuance of
Sales Tax Revenue Refunding and Improvement Bonds
Obtain Attorney General Approval for bond issuance
Financial Advisor Delivery of Sales Tax Revenue Refunding and
Improvement Bonds to Purchaser and Funds deposited
with Escrow Agent and EDC
14-Jul-OS
Thursday
First Southwest Company
Page 7
Colleyville EDC Refunding and CIP Revised.XLS
Preliminary
$8,525,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & Improvement Bonds
Series 2005
.<",-
Total Issue Sources And Uses
Dated OS/24/2005 I Delivered OS/24/2005
Refunding
new
money
+10K
Issue
Summary
Sources Of Funds
Par Amount of Bonds
Transfers from Prior Issue Debt Service Funds
$7,570,000.00
107,000,00
$955,000,00
$8,525,000,00
107,000,00
Total Sources
$7,677,000.00
$955,000.00
$8,632,000.00
Uses Of Funds
Deposit to Net Cash Escrow Fund
Deposit to Project Construction Fund
Costs of Issuance
Rounding Amount
7,550,054,88
124,316,72
2,628.40
940,000,00
15,683,28
(683,28)
7,550,054,88
940,000,00
140,000.00
1,945,12
Total Uses
$7 .677 ,000.00
$955,000.00
$8,632,000.00
-
Scenario 2 same term Ref I Issue Summa!)' I 4/2612005 I 3:57 PM
-
First Southwest Company
Public Finance Department Page 1
..-
Preliminary
$8,525,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & Improvement Bonds
Series 2005
Debt Service Comparison
Date
09/30/2005
09/30/2006
09/30/2007
09/30/2008
09/30/2009
09/30/2010
09/30/2011
09/30/2012
09/30/2013
09/30/2014
09/30/2015
09/30/2016
09/30/2017
09/30/2018
09/30/2019
09/30/2020
09/30/2021
09/30/2022
09/30/2023
09/30/2024
09/30/2025
09/30/2026
09/30/2027
Total
Total P+I
78,643,13
378,910,00
578,477.50
578,637,50
578,387.50
607,112.50
609,710,00
606,795.00
613,265.00
609,120.00
609,462.50
609,190,00
608,302.50
606,800,00
609,580,00
611,540,00
607,782,50
608,307,50
608,012,50
611,795,00
614,552,50
611,387,50
612,300,00
$13,168,070.63
PV Analysis Summary (Net to Net)
Gross PV Debt Service Savings
Existing
DIS
8,312.50
230,968.75
29,531.25
32,812.50
30,937.50
$332,562.50
Net PV Cashflow Savings @ 4.271%(AIC)
Transfers from Prior Issue Debt Service Fund
Amount deposited into Construction Fund
Net Present Value Benefit
Net PV Benefit / $7,204,183 Refunded Principal
Refunding Bond Information
Refunding Dated Date
Refunding Delivery Date
-
Scenario 2 same lenn Ref I Issue Summary I 4/26/2005 I 3:57 PM
Net New DIS Old Net DIS Savings
86,955.63 87,138,13 182,50
609,878.75 602,620,01 (7,258,74)
608,008,75 601,057,51 (6,951.24)
611,450.00 603,838,76 (7,611.24)
609,325.00 600,851.26 (8,473,74)
607,112,50 602,051.26 (5,061.24)
609,710,00 602,336,26 (7,373,74)
606,795,00 601,650,01 (5,144,99)
613,265,00 604,905,63 (8,359,37)
609,120,00 602,197,50 (6,922,50)
609,462,50 603,531.25 (5,931,25)
609,190,00 603,751.88 (5,438,12)
608,302,50 602,868,13 (5,434,37)
606,800.00 600,921.25 (5,878,75)
609,580,00 602,515,00 (7,065,00)
611,540.00 602,487,50 (9,052,50)
607,782,50 601,058,75 (6,723,75)
608,307.50 603,077 ,50 (5,230,00)
608,012.50 602,030,00 (5,982.50)
611,795,00 602,696,25 (9,098.75)
614,552.50 605,000,00 (9,552.50)
611,387.50 605,000,00 (6,387.50)
612,300,00 605,000,00 (7,300,00)
$13,500,633.13 $13,348,583.84 (152,049.29)
8,766,37
8,766,37
(107,000,00)
940,000,00
$841,766,37
11,684%
5/24/2005
5/24/2005
First Southwest Company
Public Finance Department Page 2
-
Preliminary
$8,525,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & Improvement Bonds
Series 2005
Debt Service Schedule
Part 1 of2
Date Principal Coupon Interest Total P+I Fiscal Total
OS/24/2005
08/15/2005 78,643.13 78,643,13
09/30/2005 78,643,13
02/15/2006 30,000,00 4,100% 174,762,50 204,762,50
08/15/2006 174,147,50 174,147.50
09/30/2006 378,910.00
02/15/2007 235,000.00 4,100% 174,147,50 409,147.50
08/15/2007 169,330,00 169,330,00
09/30/2007 578,477,50
02/15/2008 245,000,00 4.100% 169,330,00 414,330,00
08/15/2008 164,307,50 164,307,50
09/30/2008 578,637,50
02/15/2009 255,000.00 4,100% 164,307,50 419,307.50
08/15/2009 159,080,00 159,080,00
09/30/2009 578,387.50
02/15/2010 295,000,00 4.100% 159,080.00 454,080,00
08/15/2010 153,032,50 153,032,50
09/30/2010 607,112,50
02/15/2011 310,000.00 4,100% 153,032,50 463,032.50
08/15/2011 146,677,50 146,677.50
09/30/2011 609,710,00
02/15/2012 320,000,00 4.100% 146,677,50 466,677 ,50
08/15/2012 140,117,50 140,117,50
09/30/2012 606,795,00
02/15/2013 340,000,00 4,100% 140,117,50 480,117.50
08/15/2013 133,147,50 133,147,50
09/30/2013 613,265,00
02/15/2014 350,000,00 4.100% 133,147,50 483,147,50
08/15/2014 125,972,50 125,972,50
09/30/2014 609,120,00
02/15/2015 365,000,00 4,100% 125,972,50 490,972,50
08/15/2015 118,490,00 118,490,00
09/30/2015 609,462,50
02/15/2016 380,000.00 4,100% 118,490,00 498,490.00
08/15/2016 110,700,00 110,700,00
09/30/2016 609,190.00
02/15/2017 395,000,00 4,100% 110,700,00 505,700,00
08/15/2017 102,602,50 102,602,50
09/30/2017 608,302,50
02/15/2018 410,000,00 4.100% 102,602,50 512,602.50
08/15/2018 94,197.50 94,197,50
09/30/2018 606,800,00
02/15/2019 430,000,00 4,100% 94,197,50 524,197,50
Scenario 2 same term Ref I Issue Summary I 4/2612005 I 3:57 PM
First Southwest Company
Public Finance Department Page 3
-
Preliminary
$8,525,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & Improvement Bonds
Series 2005
Debt Service Schedule
Part 2 of 2
Scenario 2 same term Ref I Issue Summary I 4/2612005 I 3:57 PM
First Southwest Company
Public Fmance Department Page 4
-
Preliminary
$8,525,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & Improvement Bonds
Series 2005
Pricing Summary
Maturity
02/15/2006
02/15/2007
02/15/2008
02/15/2009
02/15/20 I 0
02/15/20 II
02/15/2012
02/15/2013
02/15/2014
02/15/2015
02/15/2016
02/15/2017
02/15/2018
02/15/2019
02/15/2020
02/15/2021
02/15/2022
02/15/2023
02/15/2024
02/15/2025
02/15/2026
02/15/2027
Total
Bid Information
Par Amount of Bonds
Gross Production
Bid (100.000%)
Total Purchase Price
Bond Year Dollars
Average Life
Average Coupon
Type of
Bond
Serial Coupon
Serial Coupon
Serial Coupon
Serial Coupon
Serial Coupon
Serial Coupon
Serial Coupon
Serial Coupon
Serial Coupon
Serial Coupon
Serial Coupon
Serial Coupon
Serial Coupon
Serial Coupon
Serial Coupon
Serial Coupon
Serial Coupon
Serial Coupon
Serial Coupon
Serial Coupon
Serial Coupon
Serial Coupon
Net Interest Cost (NIC)
True Interest Cost (TIC)
Coupon
4,100%
4,100%
4,100%
4,100%
4,100%
4,100%
4,100%
4.100%
4.100%
4,100%
4,100%
4,100%
4,100%
4,100%
4,100%
4,100%
4.100%
4.100%
4,100%
4,100%
4,100%
4,100%
Scenario 2 same teffil Ref I Issue Summary I 4/2612005 I 3:57 PM
Yield
4,100%
4,100%
4,100%
4,100%
4,100%
4.100%
4.100%
4.100%
4.100%
4.100%
4,100%
4,100%
4,100%
4,100%
4.100%
4.100%
4.100%
4.100%
4,100%
4,100%
4,100%
4,100%
Maturity
Value
30,000,00
235,000,00
245,000,00
255,000,00
295,000,00
310,000,00
320,000,00
340,000,00
350,000,00
365,000,00
380,000,00
395,000.00
410,000.00
430,000,00
450,000,00
465,000,00
485,000,00
505,000,00
530,000,00
555,000.00
575,000.00
600,000,00
$8,525,000.00
Price
100,000%
100,000%
100,000%
100,000%
100,000%
100,000%
100,000%
100,000%
100,000%
100,000%
100.000%
100.000%
100,000%
100,000%
100,000%
100,000%
100,000%
100.000%
100.000%
100,000%
100.000%
100,000%
Dollar Price
30,000.00
235,000.00
245,000,00
255,000,00
295,000,00
310,000,00
320,000,00
340,000,00
350,000,00
365,000,00
380,000,00
395,000.00
410,000,00
430,000,00
450,000,00
465,000,00
485,000,00
505,000,00
530,000,00
555,000.00
575,000.00
600,000,00
$8,525,000.00
$8,525,000.00
$8,525,000.00
8,525,000,00
$8,525,000,00
$113,245.63
13.284 Years
4,1000000%
4,1000000%
4,1005237%
First Southwest Company
Public Finance Department Page 5
Preliminary
$7,570,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & Improvement Bonds
Series 2005 - Refunding Portion
Debt Service Comparison
Existing
Date Total P+I D/S
09/30/2005 69,833,25 8,312.50
09/30/2006 315,267,50 230,968,75
09/30/2007 510,962,50 29,531.25
09/30/2008 512,352,50 32,812.50
09/30/2009 513,332,50 30,937,50
09/30/2010 543,287,50
09/30/2011 542,217,50
09/30/2012 540,737,50
09/30/2013 543,745,00
09/30/2014 541,240,00
09/30/2015 543,222,50
09/30/2016 544,590,00
09/30/2017 545,342,50
09/30/2018 540,582,50
09/30/2019 545,207.50
09/30/2020 544,115.00
09/30/2021 542,407.50
09/30/2022 544,982.50
09/30/2023 541,840.00
09/30/2024 542,980,00
09/30/2025 548,197,50
_\1 09/30/2026 547,492,50
09/30/2027 545,967,50
Total $11,709,903.25 $332,562.50
PV Analysis Summary (Net to Net)
Gross PV Debt Service Savings
Net PV Cashflow Savings @ 4,270%(AIC)
Transfers from Prior Issue Debt Service Fund
Net Present Value Benefit
Net PV Benefit / $7,204,183 Refunded Principal
Refunding Bond Information
Refunding Dated Date
Refunding Delivery Date
Scenario 2 same term Ref I Refunding I 412612005 I 3:57 PM
Net New D/S Old Net D/S Savings
78,145.75 87,138,13 8,992,38
546,236,25 602,620,01 56,383,76
540,493,75 601,057,51 60,563,76
545,165,00 603,838.76 58,673,76
544,270,00 600,851.26 56,581.26
543,287,50 602,051,26 58,763,76
542,217,50 602,336,26 60,118,76
540,737,50 601,650.01 60,912,51
543,745,00 604,905,63 61,160,63
541,240,00 602,197,50 60,957,50
543,222,50 603,531.25 60,308,75
544,590,00 603,751.88 59,161.88
545,342,50 602,868.13 57,525.63
540,582,50 600,921.25 60,338,75
545,207,50 602,515,00 57,307.50
544,115,00 602,487,50 58,372,50
542,407.50 601,058,75 58,651.25
544,982.50 603,077,50 58,095,00
541,840,00 602,030,00 60,190,00
542,980.00 602,696,25 59,716,25
548,197,50 605,000,00 56,802,50
547,492,50 605,000,00 57,507,50
545,967,50 605,000,00 59,032,50
$12,042,465.75 $13,348,583.84 $1,306,118.09
948,626,77
948,626.77
(107,000,00)
$841,626,77
11,682%
5/24/2005
5/24/2005
First Southwest Company
Public Finance Department Page 6
Preliminary
$7,570,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & Improvement Bonds
Series 2005 - Refunding Portion
Debt Service Schedule
Part 1 of 2
Date Principal Coupon Interest Total P+I Fiscal Total
OS/24/2005
08/15/2005 69,833.25 69,833.25
09/30/2005 69,833.25
02/15/2006 5,000,00 4.100% 155,185.00 160,185.00
08/15/2006 155,082.50 155,082.50
09/30/2006 315,267,50
02/15/2007 205,000,00 4.100% 155,082.50 360,082.50
08/15/2007 150,880.00 150,880.00
09/30/2007 510,962,50
02/15/2008 215,000,00 4,100% 150,880.00 365,880.00
08/15/2008 146,472.50 146,472,50
09/30/2008 512,352,50
02/15/2009 225,000,00 4.100% 146,472.50 371,472.50
08/15/2009 141,860.00 141,860.00
09/30/2009 513,332,50
02/15/2010 265,000.00 4,100% 141,860,00 406,860,00
08/15/2010 136,427,50 136,427.50
09/30/2010 543,287,50
02/15/2011 275,000,00 4,100% 136,427,50 411,427,50
08/15/2011 130,790,00 130,790,00
09/30/2011 542,217.50
'. 02/15/2012 285,000,00 4.100% 130,790,00 415,790,00
08/15/2012 124,947,50 124,947,50
09/30/2012 540,737.50
02/15/2013 300,000,00 4.100% 124,947,50 424,947,50
08/15/2013 118,797.50 118,797,50
09/30/2013 543,745.00
02/15/2014 310,000,00 4,100% 118,797.50 428,797,50
08/15/2014 112,442.50 112,442.50
09/30/2014 541,240,00
02/15/2015 325,000,00 4,100% 112,442,50 437,442.50
08/15/2015 105,780,00 105,780,00
09/30/2015 543,222,50
02/15/2016 340,000,00 4,100% 105,780,00 445,780,00
08/15/2016 98,810,00 98,810,00
09/30/2016 544,590.00
02/15/2017 355,000,00 4.100% 98,810,00 453,810,00
08/15/2017 91,532,50 91,532,50
09/30/2017 545,342.50
02/15/2018 365,000.00 4,100% 91,532.50 456,532,50
08/15/2018 84,050,00 84,050.00
09/30/2018 540,582,50
02/15/2019 385,000,00 4,100% 84,050,00 469,050.00
Scenario 2 same lenn Ref I Refunding I 412612005 I 3:57 PM
First Southwest Company
Public Finance Department Page 7
Preliminary
$7,570,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refimding & Improvement Bonds
Series 2005 - Refimding Portion
Debt Service Schedule
Part 2 of 2
Scenario 2 same term Ref I Refunding I 412612005 I 3:57 PM
First Southwest Company
Public Fmance Department Page 8
Preliminary
$7,570,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & Improvement Bonds
Series 2005 - Refunding Portion
Escrow Fund Cashflow
Cash
Date Principal Rate Interest + Transfers Receipts Disbursements Balance
OS/24/2005 15.88 15,88
08/15/2005 57,986,00 2.630% 20,199,03 107,639.92 185,824.95 185,825,63 15.20
02/15/2006 5,168,810.00 3.140% 162,016.26 5,330,826,26 5,330,825,63 15.83
08/15/2006 4,504.00 3,270% 43,292,23 47,796,23 47,796.25 15,81
02/15/2007 4,577,00 3.470% 43,218,59 47,795,59 47,796.25 15,15
08/15/2007 4,657,00 3,670% 43,139,18 47,796,18 47,796,25 15,08
02/15/2008 4,743,00 3.760% 43,053,72 47,796.72 47,796,25 15,55
08/15/2008 4,832,00 3.840% 42,964.56 47,796,56 47,796,25 15.86
02/15/2009 2,192,930.00 3,910% 42,871,78 2,235,801.78 2,235,802,64 15,00
Total $7,443,039.00 $440,755.35 $107,639.92 $7,991,450.15 $7,991,435.15
Investment Parameters
Investment Model [PV, GIC, or Securities]
Default investment yield target
Securities
Bond Yield
Cost of Investments Purchased with Fund Transfers
107,000,00
Cash Deposit
Cost of Investments Purchased with Bond Proceeds
Total Cost of Investments
15,88
7,443,039,00
$7,550,054.88
Target Cost of Investments at bond yield
Actual positive or (negative) arbitrage
$7,394,209,64
(48,845,24)
Yield to Receipt
Yield for Arbitrage Purposes
3,6667941%
4,1005237%
State and Local Government Series (SLGS) rates for
4/08/2005
Scenario 2 same lann Ref I Refunding I 412612005 I 3:57 PM
First Southwest Company
Public Finance Department Page 9
Preliminary
$7,570,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & Improvement Bonds
Series 2005 - Refunding Portion
Summary Of Bonds Refunded
of Maturity Call
Issue Maturity Type Bond Coupon Value Call Date Price
Dated 8/15/2002 Delivered 8/15/2002
97 sales tax rev 02/15/2007 Serial Coupon 5,000% 205,000 02/15/2006 100,000%
97 sales tax rev 02/15/2008 Serial Coupon 5,000% 215,000 02/15/2006 100,000%
97 sales tax rev 02/15/2009 Serial Coupon 5,100% 225,000 02/15/2006 100,000%
97 sales tax rev 02/15/20 I 0 Serial Coupon 5,250% 240,000 02/15/2006 100,000%
97 sales tax rev 02/15/2011 Serial Coupon 5.300% 255,000 02/15/2006 100,000%
97 sales tax rev 02/15/2012 Serial Coupon 5.375% 270,000 02/15/2006 100,000%
97 sales tax rev 02/15/2013 Serial Coupon 5.375% 285,000 02/15/2006 100.000%
97 sales tax rev 02/15/2014 Serial Coupon 5,375% 300,000 02/15/2006 100.000%
97 sales tax rev 02/15/2015 Serial Coupon 5,375% 320,000 02/15/2006 100.000%
97 sales tax rev 02/15/2016 Serial Coupon 5,375% 335,000 02/15/2006 100.000%
97 sales tax rev 02/15/2017 Serial Coupon 5,375% 355,000 02/15/2006 100.000%
97 sales tax rev 02/15/2018 Serial Coupon 5,375% 380,000 02/15/2006 100,000%
97 sales tax rev 02/15/2019 Serial Coupon 5,500% 400,000 02/15/2006 100,000%
97 sales tax rev 02/15/2020 Serial Coupon 5,500% 425,000 02/15/2006 100,000%
97 sales tax rev 02/15/2021 Serial Coupon 5,500% 455,000 02/15/2006 100,000%
97 sales tax rev 02/15/2022 Serial Coupon 5,500% 480,000 02/15/2006 100,000%
Subtotal $5,145,000
Dated 4/25/2000 I Delivered 4/25/2000
2000 sales tax rev 2 02/15/20 I 0 Serial Coupon 5,500% 30,000 02/15/2009 100,000%
2000 sales tax rev 2 02/15/20 II Serial Coupon 5.550% 30,000 02/15/2009 100,000%
2000 sales tax rev 2 02/15/2012 Serial Coupon 5.600% 30,000 02/15/2009 100,000%
2000 sales tax rev 2 02/15/2013 Serial Coupon 5,650% 35,000 02/15/2009 100,000%
2000 sales tax rev 2 02/15/2014 Serial Coupon 5,700% 35,000 02/15/2009 100,000%
2000 sales tax rev 2 02/15/2015 Serial Coupon 5,750% 35,000 02/15/2009 100,000%
2000 sales tax rev 2 02/15/2016 Serial Coupon 5,850% 40,000 02/15/2009 100,000%
2000 sales tax rev 2 02/15/2017 Serial Coupon 5.850% 40,000 02/15/2009 100,000%
2000 sales tax rev 2 02/15/2018 Serial Coupon 5.850% 35,000 02/15/2009 100,000%
2000 sales tax rev 2 02/15/2019 Serial Coupon 5.850% 40,000 02/15/2009 100.000%
2000 sales tax rev 2 02/15/2020 Serial Coupon 5.850% 40,000 02/15/2009 100.000%
2000 sales tax rev 2 02/15/2021 Serial Coupon 6.050% 35,000 02/15/2009 100.000%
2000 sales tax rev 2 02/15/2022 Serial Coupon 6,050% 40,000 02/15/2009 100.000%
2000 sales tax rev 2 02/15/2023 Serial Coupon 6,050% 550,000 02/15/2009 100.000%
2000 sales tax rev 2 02/15/2024 Serial Coupon 6,050% 585,000 02/15/2009 100.000%
2000 sales tax rev 2 02/15/2025 Serial Zero 605,000 02/15/2009 100.000%
2000 sales tax rev 2 02/15/2026 Serial Zero 605,000 02/15/2009 100,000%
2000 sales tax rev 2 02/15/2027 Serial Zero 605,000 02/15/2009 100.000%
Subtotal $3,415,000
Total $8,560,000
Scenario 2 same term Ref I Refunding I 412612005 I 3:57 PM
First Southwest Company
Public Finance Department Page 10
Preliminary
City of Colleyville, Texas
Sales Tax Revenue Bonds, Series 1997
Debt Service To Maturity And To Call Part 1 of 2
Refunded Interest to Refunded
Date Bonds Call D/S To Call Principal Coupon Interest D/S
08/15/2005 138,029,38 138,029,38 138,029,38 138,029.38
02/15/2006 5,145,000,00 138,029,38 5,283,029,38 5.000% 138,029.38 138,029,38
08/15/2006 138,029.38 138,029.38
02/15/2007 205,000,00 5,000% 138,029.38 343,029.38
08/15/2007 132,904,38 132,904,38
02/15/2008 215,000.00 5,000% 132,904,38 347,904,38
08/15/2008 127,529,38 127,529,38
02/15/2009 225,000,00 5,100% 127,529,38 352,529,38
08/15/2009 121,791.88 121,791.88
02/15/2010 240,000,00 5,250% 121,791.88 361,791.88
08/15/2010 115,491.88 115,491.88
02/15/2011 255,000,00 5,300% 115,491.88 370,491.88
08/15/2011 108,734,38 108,734,38
02/15/2012 270,000,00 5.375% 108,734.38 378,734,38
08/15/2012 101,478.13 101,478.13
02/15/2013 285,000,00 5.375% 101,478,13 386,478,13
08/15/2013 93,818.75 93,818.75
02/15/2014 300,000,00 5.375% 93,818.75 393,818.75
08/15/2014 85,756.25 85,756.25
02/15/2015 320,000,00 5,375% 85,756.25 405,756.25
08/15/2015 77,156.25 77,156.25
02/15/2016 335,000,00 5,375% 77,156.25 412,156,25
08/15/2016 68,153,13 68,153,13
02/15/2017 355,000,00 5,375% 68,153,13 423,153,13
08/15/2017 58,612,50 58,612,50
02/15/2018 380,000,00 5,375% 58,612,50 438,612,50
08/15/2018 48,400,00 48,400,00
02/15/2019 400,000.00 5,500% 48,400,00 448,400,00
08/15/2019 37,400,00 37,400,00
02/15/2020 425,000.00 5,500% 37,400,00 462,400,00
08/15/2020 25,712,50 25,712,50
02/15/2021 455,000,00 5,500% 25,712,50 480,712,50
08/15/2021 13,200,00 13,200,00
02/15/2022 480,000,00 5,500% 13,200,00 493,200,00
Total $5,145,000.00 $276,058.76 $5,421,058.76 $5,145,000.00 $2,984,396.34 $8,129,396.34
97 sales tax rev I SINGLE PURPOSE I 4/2612005 I 3:57 PM
First Southwest Company
Public Finance Department Page 11
Preliminary
City of Colleyville, Texas
Sales Tax Revenue Bonds, Series 1997
Debt Service To Maturity And To Call
Part 2 of 2
Yield Statistics
Average Life
Weighted Average Maturity (Par Basis)
Average Coupon
10.426 Years
10.426 Years
5.4222099%
Refunding Bond Information
Refunding Dated Date
Refunding Delivery Date
5/24/2005
5/24/2005
97 sales tax rev I SINGLE PURPOSE I 412612005 I 3:57 PM
First Southwest Company
Public Finance Department Page 12
Preliminary
City of Colleyville, Texas
Sales Tax Revenue Bonds, Series 2000
Debt Service To Maturity And To Call Part 1 of 2
Refunded Interest to Refunded
Date Bonds Call D/S To Call Principal Coupon Interest D/S
08/15/2005 47,796.25 47,796.25 47,796,25 47,796.25
02/15/2006 47,796,25 47,796.25 6,250% 47,796,25 47,796.25
08/15/2006 47,796.25 47,796,25 47,796,25 47,796,25
02/15/2007 47,796,25 47,796.25 6.250% 47,796,25 47,796,25
08/15/2007 47,796,25 47,796,25 47,796,25 47,796,25
02/15/2008 47,796,25 47,796,25 6.250% 47,796,25 47,796,25
08/15/2008 47,796,25 47,796,25 47,796,25 47,796,25
02/15/2009 2,188,006.39 47,796,25 2,235,802,64 6.250% 47,796,25 47,796,25
08/15/2009 47,796,25 47,796,25
02/15/2010 30,000.00 5,500% 47,796,25 77,796,25
08/15/2010 46,971.25 46,971.25
02/15/2011 30,000,00 5.550% 46,971.25 76,971.25
08/15/2011 46,138,75 46,138,75
02/15/2012 30,000.00 5,600% 46,138.75 76,138,75
08/15/2012 45,298.75 45,298,75
02/15/2013 35,000.00 5,650% 45,298.75 80,298.75
08/15/2013 44,310,00 44,310.00
02/15/2014 35,000.00 5,700% 44,310.00 79,310.00
08/15/2014 43,312.50 43,312.50
02/15/2015 35,000,00 5,750% 43,312.50 78,312.50
08/15/2015 42,306.25 42,306.25
02/15/2016 40,000,00 5,850% 42,306.25 82,306.25
08/15/2016 41,136.25 41,136.25
02/15/2017 40,000,00 5,850% 41,136.25 81,136.25
08/15/2017 39,966,25 39,966,25
02/15/2018 35,000,00 5,850% 39,966,25 74,966.25
08/15/2018 38,942,50 38,942,50
02/15/2019 40,000,00 5,850% 38,942,50 78,942.50
08/15/2019 37,772,50 37,772,50
02/15/2020 40,000,00 5,850% 37,772,50 77,772,50
08/15/2020 36,602.50 36,602.50
02/15/2021 35,000,00 6,050% 36,602.50 71,602,50
08/15/2021 35,543.75 35,543,75
02/15/2022 40,000,00 6,050% 35,543,75 75,543.75
08/15/2022 34,333,75 34,333.75
02/15/2023 550,000,00 6,050% 34,333,75 584,333.75
08/15/2023 17,696,25 17,696.25
02/15/2024 585,000,00 6,050% 17,696,25 602,696.25
02/15/2025 163,324,16 6,750% 441,675,84 605,000,00
02/15/2026 152,837,33 6,750% 452,162,67 605,000,00
02/15/2027 143,021.03 6,750% 461,978,97 605,000,00
Total $2,188,006.39 $382,370.00 $2,570,376.39 $2,059,182.52 $2,934,442.48 $4,993,625.00
2000 sales tax rev 2 I SINGLE PURPOSE I 412612005 I 3:57 PM
First Southwest Company
Public Finance Department Page 13
Preliminary
City of Colleyville, Texas
Sales Tax Revenue Bonds, Series 2000
Debt Service To Maturity And To Call
Part 2 of 2
Yield Statistics
Average Life
Weighted Average Maturity (Par Basis)
Average Coupon
17,158 Years
17,158 Years
8.2311103%
Refunding Bond Information
Refunding Dated Date
Refunding Delivery Date
5/24/2005
5/24/2005
2000 sales tax rev 2 I SINGLE PURPOSE I 412612005 I 3:57 PM
First Southwest Company
Public Finance Department Page 14
I
Preliminary
$955,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & Improvement Bonds
Series 2005 - New Money Portion
Debt Service Schedule
Part 1 of 2
Date Principal Coupon Interest Total P+I Fiscal Total
OS/24/2005
08/15/2005 8,809,88 8,809,88
09/30/2005 8,809,88
02/15/2006 25,000,00 4,100% 19,577,50 44,577 ,50
08/15/2006 19,065,00 19,065,00
09/30/2006 63,642,50
02/15/2007 30,000,00 4,100% 19,065,00 49,065,00
08/15/2007 18,450,00 18,450,00
09/30/2007 67,515.00
02/15/2008 30,000,00 4,100% 18,450,00 48,450,00
08/15/2008 17,835,00 17,835,00
09/30/2008 66,285.00
02/15/2009 30,000,00 4,100% 17,835,00 47,835,00
08/15/2009 17,220,00 17,220,00
09/30/2009 65,055,00
02/15/2010 30,000,00 4,100% 17,220,00 47,220,00
08/15/2010 16,605,00 16,605,00
09/30/2010 63,825,00
02/15/2011 35,000,00 4,100% 16,605,00 51,605,00
08/15/2011 15,887,50 15,887,50
09/30/2011 67,492,50
02/15/2012 35,000,00 4,100% 15,887,50 50,887,50
08/15/2012 15,170,00 15,170,00
09/30/2012 66,057.50
02/15/2013 40,000,00 4.100% 15,170,00 55,170,00
08/15/2013 14,350.00 14,350,00
09/30/2013 69,520,00
02/15/2014 40,000.00 4.100% 14,350.00 54,350.00
08/15/2014 13,530.00 13,530.00
09/30/2014 67,880.00
02/15/2015 40,000,00 4.100% 13,530,00 53,530.00
08/15/2015 12,710.00 12,710.00
09/30/2015 66,240.00
02/15/2016 40,000.00 4.100% 12,710,00 52,710.00
08/15/2016 11,890.00 11,890.00
09/30/2016 64,600.00
02/15/2017 40,000.00 4.100% 11,890.00 51,890.00
08/15/2017 11,070,00 11,070,00
09/30/2017 62,960.00
02/15/2018 45,000,00 4,100% 11,070.00 56,070.00
08/15/2018 10,147.50 10,147,50
09/30/2018 66,217,50
02/15/2019 45,000,00 4,100% 10,147.50 55,147.50
Scenario 2 same tenn Ref I new money + 1 OK I 412612005 I 3:57 PM
First Southwest Company
Public Finance Department Page 15
Preliminary
$955,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & hnprovement Bonds
Series 2005 - New Money Portion
Debt Service Schedule
Part 2 of 2
Scenario 2 same tel1l1 Ref I new money +1 OK I 412612005 I 3:57 PM
First Southwest Company
Public Finance Department Page 16
Preliminary
$9,600,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refimding & Improvement Bonds
Series 2005
Total Issue Sources And Uses
Dated OS/24/2005 I Delivered OS/24/2005
Refunding
$2M
Issue
Summary
Sources Of Funds
Par Amount of Bonds
Transfers from Prior Issue Debt Service Funds
$7,570,000,00
92,000,00
$2,030,000,00
$9,600,000,00
92,000.00
Total Sources
$7 ,662,000.00
$2,030,000.00
$9,692,000.00
Uses Of Funds
Deposit to Net Cash Escrow Fund
Deposit to Project Construction Fund
Costs of Issuance
Rounding Amount
7,550,054,88
110,395,83
1,549,29
2,000,000,00
29,604,17
395,83
7,550,054,88
2,000,000,00
140,000.00
1,945,12
Total Uses
$7,662,000.00
$2,030,000.00
$9,692,000.00
Scenario 3 refunding and I Issue Summary I 412612005 I 3:58 PM
First Southwest Company
Public Finance Department Page 1
Preliminary
$9,600,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refimding & Improvement Bonds
Series 2005
Debt Service Comparison
Date
09/3012005
09/3012006
09/3012007
09/3012008
09/3012009
09/3012010
09/3012011
09/30/2012
09/3012013
09/3012014
09/3012015
09/3012016
09/30/2017
09/3012018
09/3012019
09/30/2020
09/30/2021
09/30/2022
09/30/2023
09/3012024
09/30/2025
09/3012026
09/3012027
09/3012028
09/3012029
Total
Total P+I
89,640,01
417,985,00
622,797,50
623,045,00
617,981.25
651,880,00
649,637.50
651,876.25
653,492.50
649,590.00
650,168.75
655,021.25
654,147.50
647,755,00
655,636,25
652,687,50
649,116.25
654,715.00
654,380,00
648,318,75
656,323,75
653,291.25
654,325,00
654,321.25
653,280,00
$15,421,412.51
PV Analysis Summary (Net to Net)
Gross PV Debt Service Savings
Existing
DIS
8,312.50
230,968,75
29,531.25
32,812.50
30,937,50
$332,562.50
Net PV Cashflow Savings @ 4,292%(AIC)
Transfers from Prior Issue Debt Service Fund
Amount deposited into Construction Fund
Net Present Value Benefit
Net PV Benefit / $7,204,183 Refunded Principal
Refunding Bond Information
Refunding Dated Date
Refunding Delivery Date
Scenario 3 refunding and I Issue Summary I 412612005 I 3:58 PM
Net New DIS Old Net DIS Savings
97,952.51 102,138.13 4,185,62
648,953.75 602,620.01 (46,333.74)
652,328.75 601,057.51 (51,271.24)
655,857.50 603,838.76 (52,018,74)
648,918.75 600,851.26 (48,067.49)
651,880.00 602,051.26 (49,828,74)
649,637.50 602,336.26 (47,301.24)
651,876,25 601,650.01 (50,226.24)
653,492,50 604,905.63 (48,586.87)
649,590,00 602,197,50 ( 4 7 ,392.50)
650,168.75 603,531.25 (46,637.50)
655,021.25 603,751.88 (51,269.37)
654,147,50 602,868,13 (51,279.37)
647,755,00 600,921.25 (46,833.75)
655,636,25 602,515,00 (53,121.25)
652,687,50 602,487,50 (50,200,00)
649,116,25 601,058,75 (48,057.50)
654,715,00 603,077 ,50 (51,637.50)
654,380,00 602,030,00 (52,350.00)
648,318,75 602,696,25 (45,622,50)
656,323,75 605,000,00 (51,323,75)
653,291.25 605,000,00 (48,291.25)
654,325,00 605,000,00 (49,325,00)
654,321.25 ( 654,321.25)
653,280.00 (653,280,00)
$15,753,975.01 $13,363,583.84 (2,390,391.17)
(1,083,193.71)
(1,083,193.71)
(92,000.00)
2,000,000,00
$824,806,29
11.449%
5/2412005
5/2412005
First Southwest Company
Public Finance Department Page 2
Preliminary
$9,600,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & Improvement Bonds
Series 2005
Debt Service Schedule
Part 1 of 3
Date Principal Coupon Interest Total P+I Fiscal Total
OS/24/2005
08/15/2005 89,640,01 89,640,01
09/30/2005 89,640,01
02/15/2006 20,000,00 4,150% 199,200,00 219,200,00
08/15/2006 198,785,00 198,785,00
09/30/2006 417,985,00
02/15/2007 230,000,00 4.150% 198,785,00 428,785,00
08/15/2007 194,012,50 194,012,50
09/30/2007 622,797,50
02/15/2008 240,000.00 4.150% 194,012,50 434,012,50
08/15/2008 189,032,50 189,032,50
09/30/2008 623,045,00
02/15/2009 245,000.00 4.150% 189,032,50 434,032,50
08/15/2009 183,948,75 183,948,75
09/30/2009 617,981.25
02/15/2010 290,000.00 4.150% 183,948,75 473,948,75
08/15/2010 177,931.25 177,931.25
09/30/2010 651,880.00
02/15/2011 300,000.00 4,150% 177,931.25 477,931.25
08/15/2011 171,706,25 171,706.25
09/30/2011 649,637,50
02/15/2012 315,000,00 4,150% 171,706,25 486,706.25
08/15/2012 165,170,00 165,170.00
09/30/2012 651,876,25
02/15/2013 330,000,00 4,150% 165,170,00 495,170,00
08/15/2013 158,322,50 158,322,50
09/30/2013 653,492,50
02/15/2014 340,000,00 4.150% 158,322,50 498,322,50
08/15/2014 151,267,50 151,267,50
09/30/2014 649,590,00
02/15/2015 355,000.00 4.150% 151,267,50 506,267,50
08/15/2015 143,901.25 143,901.25
09/30/2015 650,168,75
02/15/2016 375,000,00 4,150% 143,901.25 518,901.25
08/15/2016 136,120,00 136,120,00
09/30/2016 655,021.25
02/15/2017 390,000,00 4,150% 136,120.00 526,120.00
08/15/2017 128,027,50 128,027.50
09/30/2017 654,147,50
02/15/2018 400,000,00 4,150% 128,027,50 528,027,50
08/15/2018 119,727,50 119,727,50
09/30/2018 647,755,00
02/15/2019 425,000.00 4.150% 119,727,50 544,727.50
Scenario 3 refunding and I Issue Summary I 412612005 I 3:58 PM
-
First Southwest Company
Public Fmance Department Page 3
Preliminary
$9,600,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & Improvement Bonds
Series 2005
Debt Service Schedule
Part 2 of 3
Date Principal Coupon Interest Total P+I Fiscal Total
08/15/2019 110,908,75 110,908.75
09/30/2019 655,636,25
02/15/2020 440,000,00 4,150% 110,908,75 550,908.75
08/15/2020 101,778,75 101,778.75
09/30/2020 652,687,50
02/15/2021 455,000,00 4,150% 101,778,75 556,778.75
08/15/2021 92,337,50 92,337,50
09/30/2021 649,116,25
02/15/2022 480,000,00 4,150% 92,337.50 572,337,50
08/15/2022 82,377,50 82,377.50
09/30/2022 654,715,00
02/15/2023 500,000,00 4,150% 82,377,50 582,377.50
08/15/2023 72,002,50 72,002.50
09/30/2023 654,380,00
02/15/2024 515,000,00 4,150% 72,002,50 587,002.50
08/15/2024 61,316,25 61,316.25
09/30/2024 648,318,75
02/15/2025 545,000,00 4.150% 61,316,25 606,316.25
08/15/2025 50,007,50 50,007.50
09/30/2025 656,323,75
02/15/2026 565,000.00 4,150% 50,007,50 615,007.50
08/15/2026 38,283,75 38,283,75
09/30/2026 653,291.25
02/15/2027 590,000.00 4,150% 38,283,75 628,283,75
08/15/2027 26,041.25 26,041,25
09/30/2027 654,325.00
02/15/2028 615,000,00 4,150% 26,041.25 641,041.25
08/15/2028 13,280.00 13,280,00
09/30/2028 654,321.25
02/15/2029 640,000,00 4,150% 13,280.00 653,280,00
09/30/2029 653,280,00
Total $9,600,000.00 $5,821,412.51 $15,421,412.51
Scenario 3 refunding and I Issue Summary I 412612005 I 3:58 PM
First Southwest Company
Public Finance Department Page 4
Preliminary
$9,600,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & Improvement Bonds
Series 2005
Debt Service Schedule
Part 3 of 3
Yield Statistics
Bond Year Dollars
Average Life
Average Coupon
$140,275,00
14,612 Years
4.1500000%
Net Interest Cost (NIC)
True Interest Cost (TIC)
Bond Yield for Arbitrage Purposes
Alllnclusive Cost (AIC)
4,1500000%
4.1505027%
4.1505027%
4,2923556%
IRS Form 8038
Net Interest Cost
Weighted Average Maturity
4.1500000%
14,612 Years
Scenario 3 refunding and I Issue Summary I 412612005 I 3:58 PM
First Southwest Company
Public Finance Department Page 5
Preliminary
$9,600,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & Improvement Bonds
Series 2005
Pricing Summary
Type of Maturity
Maturity Bond Coupon Yield Value Price
02/15/2006 Serial Coupon 4,150% 4,150% 20,000,00 100,000%
02/15/2007 Serial Coupon 4,150% 4,150% 230,000.00 100,000%
02/15/2008 Serial Coupon 4,150% 4,150% 240,000.00 100,000%
02/15/2009 Serial Coupon 4,150% 4,150% 245,000.00 100,000%
02/15/20 I 0 Serial Coupon 4,150% 4,150% 290,000.00 100,000%
02/15/20 II Serial Coupon 4,150% 4,150% 300,000.00 100,000%
02/15/2012 Serial Coupon 4,150% 4,150% 315,000.00 100,000%
02/15/2013 Serial Coupon 4,150% 4,150% 330,000.00 100,000%
02/15/2014 Serial Coupon 4,150% 4,150% 340,000.00 100,000%
02/15/2015 Serial Coupon 4,150% 4,150% 355,000,00 100,000%
02/15/2016 Serial Coupon 4,150% 4,150% 375,000,00 100,000%
02/15/2017 Serial Coupon 4,150% 4,150% 390,000,00 100,000%
02/15/2018 Serial Coupon 4,150% 4,150% 400,000,00 100,000%
02/15/2019 Serial Coupon 4.150% 4.150% 425,000,00 100,000%
02/15/2020 Serial Coupon 4.150% 4,150% 440,000,00 100,000%
02/15/2021 Serial Coupon 4.150% 4.150% 455,000,00 100,000%
02/15/2022 Serial Coupon 4.150% 4.150% 480,000,00 100,000%
02/15/2023 Serial Coupon 4,150% 4.150% 500,000,00 100,000%
02/15/2024 Serial Coupon 4,150% 4.150% 515,000,00 100,000%
02/15/2025 Serial Coupon 4,150% 4.150% 545,000,00 100.000%
02/15/2026 Serial Coupon 4,150% 4.150% 565,000,00 100.000%
02/15/2027 Serial Coupon 4,150% 4.150% 590,000,00 100.000%
02/15/2028 Serial Coupon 4,150% 4,150% 615,000.00 100.000%
02/15/2029 Serial Coupon 4,150% 4,150% 640,000.00 100,000%
Total $9,600,000.00
Bid Information
Par Amount of Bonds
Gross Production
Bid (100,000%)
Total Purchase Price
Bond Year Dollars
Average Life
Average Coupon
Net Interest Cost (NIC)
True Interest Cost (TIC)
Scenario 3 refunding and I Issue Summary I 412612005 I 3:58 PM
Dollar Price
20,000,00
230,000,00
240,000,00
245,000,00
290,000,00
300,000,00
315,000,00
330,000,00
340,000,00
355,000,00
375,000,00
390,000,00
400,000,00
425,000,00
440,000,00
455,000,00
480,000.00
500,000.00
515,000.00
545,000.00
565,000.00
590,000.00
615,000,00
640,000,00
$9,600,000.00
$9,600,000,00
$9,600,000,00
9,600,000,00
$9,600,000,00
$140,275,00
14,612 Years
4,1500000%
4.1500000%
4.1505027%
First Southwest Company
Public Finance Department Page 6
Preliminary
$7,570,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & Improvement Bonds
Series 2005 - Refunding Portion
Debt Service Comparison
Date
09/30/2005
09/30/2006
09/30/2007
09/30/2008
09/30/2009
09/30/20 I 0
09/30/2011
09/30/2012
09/30/2013
09/30/2014
09/30/2015
09/30/2016
09/30/2017
09/30/2018
09/30/2019
09/30/2020
09/30/2021
09/30/2022
09/30/2023
09/30/2024
09/30/2025
09/30/2026
09/30/2027
Total
Total P+I
70,684,88
314,155,00
514,901.25
516,186.25
512,160,00
547,096,25
545,891.25
544,271.25
547,132,50
544,475,00
546,298,75
547,500,00
548,078.75
543,138.75
547,576.25
546,287,50
544,376.25
546,738.75
548,271.25
544,077 ,50
549,053,75
548,096,25
551,205,00
$11,767,652.38
PV Analysis Summary (Net to Net)
Gross PV Debt Service Savings
Existing
DIS
8,312,50
230,968,75
29,531,25
32,812,50
30,937,50
$332,562.50
Net PV Cashflow Savings @ 4.302%(AIC)
Transfers from Prior Issue Debt Service Fund
Net Present Value Benefit
Net PV Benefit / $7,204,183 Refunded Principal
Refunding Bond Information
Refunding Dated Date
Refunding Delivery Date
Scenario 3 refunding and I Refunding I 4/2612005 I 3:58 PM
Net New DIS Old Net DIS Savings
78,997,38 102,138.13 23,140,75
545,123,75 602,620.01 57,496,26
544,432,50 601,057.51 56,625,01
548,998,75 603,838,76 54,840,01
543,097,50 600,851.26 57,753.76
547,096,25 602,051.26 54,955,01
545,891.25 602,336.26 56,445,01
544,271.25 601,650,01 57,378,76
547,132,50 604,905,63 57,773,13
544,475,00 602,197.50 57,722,50
546,298,75 603,531.25 57,232,50
547,500,00 603,751.88 56,251,88
548,078,75 602,868,13 54,789.38
543,138,75 600,921.25 57,782.50
547,576,25 602,515,00 54,938.75
546,287,50 602,487.50 56,200,00
544,376,25 601,058.75 56,682.50
546,738,75 603,077.50 56,338.75
548,271.25 602,030,00 53,758.75
544,077 ,50 602,696,25 58,618.75
549,053,75 605,000,00 55,946,25
548,096,25 605,000,00 56,903,75
551,205,00 605,000,00 53,795,00
$12,100,214.88 $13,363,583.84 $1,263,368.96
909,837,56
909,837,56
(92,000.00)
$817,837.56
11.352%
5/24/2005
5/24/2005
First Southwest Company
PubliC Finance Department Page 7
Preliminary
$7,570,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & Improvement Bonds
Series 2005 - Refunding Portion
Debt Service Schedule
Part 1 of 2
Date Principal Coupon Interest Total P+I Fiscal Total
OS/24/2005
08/15/2005 70,684,88 70,684,88
09/30/2005 70,684,88
02/15/2006 157,077,50 157,077,50
08/15/2006 157,077,50 157,077,50
09/30/2006 314,155,00
02/15/2007 205,000,00 4,150% 157,077,50 362,077 ,50
08/15/2007 152,823,75 152,823,75
09/30/2007 514,901.25
02/15/2008 215,000.00 4,150% 152,823,75 367,823,75
08/15/2008 148,362,50 148,362,50
09/30/2008 516,186,25
02/15/2009 220,000,00 4,150% 148,362,50 368,362,50
08/15/2009 143,797,50 143,797,50
09/30/2009 512,160,00
02/15/2010 265,000,00 4,150% 143,797,50 408,797,50
08/15/2010 138,298,75 138,298,75
09/30/2010 547,096,25
02/15/2011 275,000,00 4,150% 138,298,75 413,298,75
08/15/2011 132,592,50 132,592,50
09/30/2011 545,891.25
02/15/2012 285,000,00 4,150% 132,592,50 417,592,50
08/15/2012 126,678,75 126,678,75
09/30/2012 544,271.25
02/15/2013 300,000,00 4,150% 126,678,75 426,678,75
08/15/2013 120,453,75 120,453,75
09/30/2013 547,132,50
02/15/2014 310,000,00 4.150% 120,453,75 430,453.75
08/15/2014 114,021.25 114,021.25
09/30/2014 544,475,00
02/15/2015 325,000,00 4.150% 114,021,25 439,021.25
08/15/2015 107,277.50 107,277.50
09/30/2015 546,298.75
02/15/2016 340,000.00 4,150% 107,277,50 447,277,50
08/15/2016 100,222,50 100,222,50
09/30/2016 547,500,00
02/15/2017 355,000.00 4,150% 100,222,50 455,222,50
08/15/2017 92,856,25 92,856,25
09/30/2017 548,078,75
02/15/2018 365,000,00 4,150% 92,856,25 457,856,25
08/15/2018 85,282,50 85,282,50
09/30/2018 543,138,75
02/15/2019 385,000,00 4.150% 85,282,50 470,282,50
Scenario 3 refunding and I Refunding I 4I26l2OO5 I 3:58 PM
First Southwest Company
Public Fmance Department Page 8
Preliminary
$7,570,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & Improvement Bonds
Series 2005 - Refunding Portion
Debt Service Schedule
Part 2 of 2
Scenario 3 refunding and I Refunding I 4/2612005 I 3:58 PM
First Southwest Company
Public Finance Department Page 9
Preliminary
$7,570,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & Improvement Bonds
Series 2005 - Refunding Portion
Escrow Fund Cashflow
Cash
Date Principal Rate Interest + Transfers Receipts Disbursements Balance
OS/24/2005 15.88 15.88
08/15/2005 72,986,00 2,630% 20,288,74 92,550.21 185,824.95 185,825,63 15.20
02/15/2006 5,168,810,00 3,140% 162,016,26 5,330,826,26 5,330,825,63 15.83
08/15/2006 4,504,00 3,270% 43,292,23 47,796,23 47,796,25 15,81
02/15/2007 4,577,00 3.470% 43,218,59 47,795,59 47,796,25 15.15
08/15/2007 4,657,00 3,670% 43,139.18 47,796,18 47,796,25 15.08
02/15/2008 4,743,00 3,760% 43,053,72 47,796,72 47,796,25 15.55
08/15/2008 4,832,00 3,840% 42,964,56 47,796,56 47,796,25 15.86
02/15/2009 2,192,930,00 3,910% 42,871.78 2,235,801.78 2,235,802,64 15,00
Total $7,458,039.00 $440,845.06 $92,550.21 $7,991,450.15 $7,991,435.15
Investment Parameters
Investment Model [PV, GIC, or Securities]
Default investment yield target
Securities
Bond Yield
Cost of Investments Purchased with Fund Transfers
92,000,00
Cash Deposit
Cost of Investments Purchased with Bond Proceeds
Total Cost of Investments
15,88
7,458,039,00
$7,550,054,88
Target Cost of Investments at bond yield
Actual positive or (negative) arbitrage
$7,403,576,10
(54,478,78)
Yield to Receipt
Yield for Arbitrage Purposes
3.6665017%
4,1505027%
State and Local Government Series (SLGS) rates for
4/08/2005
Scenario 3 refunding and I Refunding I 412612005 I 3:58 PM
First Southwest Company
Public Finance Department Page 10
Preliminary
$7,570,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & hnprovement Bonds
Series 2005 - Refunding Portion
Summary Of Bonds Refunded
of Maturity Call
Issue Maturity Type Bond Coupon Value Call Date Price
Dated 8/15/2002 Delivered 8/15/2002
97 sales tax rev 02/15/2007 Serial Coupon 5,000% 205,000 02/15/2006 100.000%
97 sales tax rev 02/15/2008 Serial Coupon 5,000% 215,000 02/15/2006 100.000%
97 sales tax rev 02/15/2009 Serial Coupon 5,100% 225,000 02/15/2006 100.000%
97 sales tax rev 02/15/20 I 0 Serial Coupon 5,250% 240,000 02/15/2006 100,000%
97 sales tax rev 02/15/20 II Serial Coupon 5,300% 255,000 02/15/2006 100.000%
97 sales tax rev 02/15/2012 Serial Coupon 5,375% 270,000 02/15/2006 100,000%
97 sales tax rev 02/15/2013 Serial Coupon 5.375% 285,000 02/15/2006 100,000%
97 sales tax rev 02/15/2014 Serial Coupon 5.375% 300,000 02/15/2006 100,000%
97 sales tax rev 02/15/2015 Serial Coupon 5,375% 320,000 02/15/2006 100,000%
97 sales tax rev 02/15/2016 Serial Coupon 5,375% 335,000 02/15/2006 100,000%
97 sales tax rev 02/15/2017 Serial Coupon 5,375% 355,000 02/15/2006 100,000%
97 sales tax rev 02/15/2018 Serial Coupon 5,375% 380,000 02/15/2006 100,000%
97 sales tax rev 02/15/2019 Serial Coupon 5,500% 400,000 02/15/2006 100,000%
97 sales tax rev 02/15/2020 Serial Coupon 5,500% 425,000 02/15/2006 100,000%
97 sales tax rev 02/15/2021 Serial Coupon 5,500% 455,000 02/15/2006 100,000%
97 sales tax rev 02/15/2022 Serial Coupon 5,500% 480,000 02/15/2006 100,000%
Subtotal $5,145,000
Dated 4/25/2000 I Delivered 4/25/2000
2000 sales tax rev 2 02/15/20 I 0 Serial Coupon 5,500% 30,000 02/15/2009 100,000%
2000 sales tax rev 2 02/15/2011 Serial Coupon 5,550% 30,000 02/15/2009 100,000%
2000 sales tax rev 2 02/15/2012 Serial Coupon 5,600% 30,000 02/15/2009 100,000%
2000 sales tax rev 2 02/15/2013 Serial Coupon 5,650% 35,000 02/15/2009 100,000%
2000 sales tax rev 2 02/15/2014 Serial Coupon 5,700% 35,000 02/15/2009 100,000%
2000 sales tax rev 2 02/15/2015 Serial Coupon 5,750% 35,000 02/15/2009 100,000%
2000 sales tax rev 2 02/15/2016 Serial Coupon 5,850% 40,000 02/15/2009 100.000%
2000 sales tax rev 2 02/15/2017 Serial Coupon 5,850% 40,000 02/15/2009 100.000%
2000 sales tax rev 2 02/15/2018 Serial Coupon 5,850% 35,000 02/15/2009 100.000%
2000 sales tax rev 2 02/15/2019 Serial Coupon 5,850% 40,000 02/15/2009 100.000%
2000 sales tax rev 2 02/15/2020 Serial Coupon 5,850% 40,000 02/15/2009 100.000%
2000 sales tax rev 2 02/15/2021 Serial Coupon 6,050% 35,000 02/15/2009 100.000%
2000 sales tax rev 2 02/15/2022 Serial Coupon 6,050% 40,000 02/15/2009 100,000%
2000 sales tax rev 2 02/15/2023 Serial Coupon 6,050% 550,000 02/15/2009 100,000%
2000 sales tax rev 2 02/15/2024 Serial Coupon 6,050% 585,000 02/15/2009 100,000%
2000 sales tax rev 2 02/15/2025 Serial Zero 605,000 02/15/2009 100,000%
2000 sales tax rev 2 02/15/2026 Serial Zero 605,000 02/15/2009 100,000%
2000 sales tax rev 2 02/15/2027 Serial Zero 605,000 02/15/2009 100,000%
Subtotal $3,415,000
Total $8,560,000
Scenario 3 refunding and I Refunding I 412612005 I 3:58 PM
First Southwest Company
Public Finance Department Page 11
Preliminary
City of Colleyville, Texas
Sales Tax Revenue Bonds, Series 1997
Debt Service To Maturity And To Call Part 1 of 2
Refunded Interest to Refunded
Date Bonds Call D/S To Call Principal Coupon Interest D/S
08/1 5/2005 138,029.38 138,029,38 138,029.38 138,029,38
02/1 5/2006 5,145,000,00 138,029,38 5,283,029,38 5,000% 138,029,38 138,029,38
08/15/2006 138,029.38 138,029,38
02/1 5/2007 205,000,00 5,000% 138,029.38 343,029,38
08/1 5/2007 132,904.38 132,904,38
02/1 5/2008 215,000,00 5,000% 132,904.38 347,904,38
08/1 5/2008 127,529.38 127,529,38
02/15/2009 225,000,00 5,100% 127,529,38 352,529.38
08/15/2009 121,791.88 121,791.88
02/1 5/2010 240,000,00 5,250% 121,791.88 361,791.88
08/1 5/2010 115,491.88 115,491.88
02/1 5/2011 255,000,00 5,300% 115,491.88 370,491.88
08/1 5/2011 108,734,38 108,734,38
02/15/2012 270,000,00 5,375% 108,734,38 378,734.38
08/1 5/20 12 101,478,13 101,478.13
02/1 5/2013 285,000,00 5,375% 101,478,13 386,478.13
08/15/2013 93,818,75 93,818.75
02/1 5/20 14 300,000,00 5,375% 93,818.75 393,818,75
08/1 5/20 14 85,756.25 85,756,25
02/1 5/2015 320,000,00 5,375% 85,756.25 405,756.25
08/1 5/2015 77,156.25 77,156.25
02/1 5/20 16 335,000,00 5,375% 77,156.25 412,156,25
08/1 5/20 16 68,153.13 68,153,13
02/15/2017 355,000,00 5,375% 68,153.13 423,153,13
08/1 5/2017 58,612.50 58,612.50
02/1 5/20 18 380,000,00 5,375% 58,612,50 438,612,50
08/15/2018 48,400.00 48,400,00
02/15/2019 400,000,00 5,500% 48,400,00 448,400,00
08/15/2019 37,400,00 37,400,00
02/15/2020 425,000,00 5,500% 37,400,00 462,400,00
08/1 5/2020 25,712,50 25,712,50
02/15/2021 455,000.00 5,500% 25,712,50 480,712,50
08/1 5/2021 13,200,00 13,200,00
02/15/2022 480,000,00 5,500% 13,200,00 493,200,00
Total $5,145,000.00 $276,058.76 $5,421,058.76 $5,145,000.00 $2,984,396.34 $8,129,396.34
97 sales tax rev I SINGLE PURPOSE I 4/2612005 I 3:58 PM
First Southwest Company
Public Finance Department Page 12
Preliminary
City of CoUeyville, Texas
Sales Tax Revenue Bonds, Series 1997
Debt Service To Maturity And To Call
Part 2 of 2
Yield Statistics
Average Life
Weighted Average Maturity (Par Basis)
Average Coupon
10.426 Years
10.426 Years
5.4222099%
Refunding Bond Information
Refunding Dated Date
Refunding Delivery Date
5/24/2005
5/2412005
97 sales tax rev I SINGLE PURPOSE I 412612005 I 3:58 PM
First Southwest Company
Public Finance Department Page 13
Preliminary
City of Colleyville, Texas
Sales Tax Revenue Bonds, Series 2000
Debt Service To Maturity And To Call Part 1 of 2
Refunded Interest to Refunded
Date Bonds Call D/S To Call Principal Coupon Interest D/S
08/15/2005 47,796,25 47,796,25 47,796,25 47,796.25
02/15/2006 47,796,25 47,796,25 6,250% 47,796,25 47,796.25
08/15/2006 47,796,25 47,796,25 47,796,25 47,796.25
02/15/2007 47,796,25 47,796,25 6,250% 47,796,25 47,796.25
08/15/2007 47,796,25 47,796.25 47,796,25 47,796.25
02/15/2008 47,796,25 47,796,25 6,250% 47,796,25 47,796.25
08/15/2008 47,796.25 47,796,25 47,796,25 47,796.25
02/15/2009 2,188,006.39 47,796.25 2,235,802,64 6,250% 47,796,25 47,796.25
08/15/2009 47,796,25 47,796.25
02/15/2010 30,000,00 5,500% 47,796,25 77,796.25
08/15/2010 46,971.25 46,971.25
02/15/2011 30,000,00 5,550% 46,971.25 76,971.25
08/15/2011 46,138.75 46,138,75
02/15/2012 30,000,00 5.600% 46,138,75 76,138,75
08/15/2012 45,298.75 45,298,75
02/15/2013 35,000,00 5,650% 45,298.75 80,298,75
08/15/2013 44,310.00 44,310,00
02/15/2014 35,000,00 5,700% 44,310.00 79,310,00
08/15/2014 43,312.50 43,312,50
02/15/2015 35,000,00 5,750% 43,312.50 78,312,50
08/15/2015 42,306,25 42,306,25
02/15/2016 40,000,00 5,850% 42,306,25 82,306,25
08/15/2016 41,136,25 41,136,25
02/15/2017 40,000.00 5,850% 41,136,25 81,136.25
08/15/2017 39,966,25 39,966.25
02/15/2018 35,000,00 5,850% 39,966,25 74,966.25
08/15/2018 38,942,50 38,942,50
02/15/2019 40,000,00 5,850% 38,942,50 78,942,50
08/15/2019 37,772,50 37,772,50
02/15/2020 40,000,00 5,850% 37,772.50 77,772,50
08/15/2020 36,602.50 36,602,50
02/15/2021 35,000,00 6,050% 36,602.50 71,602,50
08/15/2021 35,543.75 35,543,75
02/15/2022 40,000,00 6.050% 35,543,75 75,543,75
08/15/2022 34,333,75 34,333,75
02/15/2023 550,000.00 6,050% 34,333,75 584,333,75
08/15/2023 17,696,25 17,696.25
02/15/2024 585,000.00 6,050% 17,696,25 602,696.25
02/15/2025 163,324,16 6,750% 441,675,84 605,000,00
02/15/2026 152,837,33 6,750% 452,162,67 605,000,00
02/15/2027 143,021.03 6,750% 461,978,97 605,000,00
Total $2,188,006.39 $382,370.00 $2,570,376.39 $2,059,182.52 $2,934,442.48 $4,993,625.00
2000 sales tax rev 2 I SINGLE PURPOSE I 412612005 I 3:58 PM
First Southwest Company
Public Finance Department Page 14
Preliminary
City of Colleyville, Texas
Sales Tax Revenue Bonds, Series 2000
Debt Service To Maturity And To Call
Part 2 of 2
Yield Statistics
Average Life
Weighted Average Maturity (Par Basis)
Average Coupon
17,158 Years
17,158 Years
8,2311103%
Refunding Bond Information
Refunding Dated Date
Refunding Delivery Date
5/24/2005
5/24/2005
2000 sales tax rev 2 I SINGLE PURPOSE I 412612005 I 3:58 PM
First Southwest Company
Public Finance Department Page 15
Preliminary
$2,030,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & Improvement Bonds
Series 2005 - New Money Portion
Debt Service Schedule
Part 1 of 3
Date Principal Coupon Interest Total P+I Fiscal Total
OS/24/2005
08/15/2005 18,955,13 18,955,13
09/30/2005 18,955,13
02/15/2006 20,000,00 4,150% 42,122,50 62,122.50
08/15/2006 41,707.50 41,707,50
09/30/2006 103,830,00
02/15/2007 25,000,00 4,150% 41,707,50 66,707,50
08/15/2007 41,188,75 41,188.75
09/30/2007 107,896,25
02/15/2008 25,000,00 4,150% 41,188,75 66,188,75
08/15/2008 40,670,00 40,670,00
09/30/2008 106,858,75
02/15/2009 25,000,00 4,150% 40,670,00 65,670,00
08/15/2009 40,151.25 40,151.25
09/30/2009 105,821.25
02/15/2010 25,000,00 4.150% 40,151.25 65,151.25
08/15/2010 39,632,50 39,632,50
09/30/2010 104,783.75
02/15/2011 25,000.00 4.150% 39,632,50 64,632,50
08/15/2011 39,113,75 39,113,75
09/30/2011 103,746,25
02/15/2012 30,000.00 4,150% 39,113,75 69,113,75
08/15/2012 38,491.25 38,491.25
09/30/2012 107,605.00
02/15/2013 30,000,00 4,150% 38,491.25 68,491.25
08/15/2013 37,868,75 37,868.75
09/30/2013 106,360,00
02/15/2014 30,000,00 4,150% 37,868.75 67,868.75
08/15/2014 37,246.25 37,246.25
09/30/2014 105,115,00
02/15/2015 30,000,00 4,150% 37,246,25 67,246,25
08/15/2015 36,623,75 36,623,75
09/30/2015 103,870,00
02/15/2016 35,000.00 4,150% 36,623,75 71,623,75
08/15/2016 35,897,50 35,897,50
09/30/2016 107,521.25
02/15/2017 35,000.00 4.150% 35,897,50 70,897,50
08/15/2017 35,171.25 35,171.25
09/30/2017 106,068,75
02/15/2018 35,000,00 4,150% 35,171.25 70,171.25
08/15/2018 34,445,00 34,445,00
09/30/2018 104,616,25
02/15/2019 40,000,00 4,150% 34,445,00 74,445.00
Scenario 3 refunding and I $2M I 4/26/2005 I 3:58 PM
First Southwest Company
Public Finance Department Page 16
Preliminary
$2,030,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & Improvement Bonds
Series 2005 - New Money Portion
Debt Service Schedule
Part 2 of 3
Date Principal Coupon Interest Total P+I Fiscal Total
08/15/2019 33,615,00 33,615,00
09/30/2019 108,060.00
02/15/2020 40,000,00 4,150% 33,615,00 73,615.00
08/15/2020 32,785,00 32,785,00
09/30/2020 106,400,00
02/15/2021 40,000.00 4.150% 32,785,00 72,785,00
08/15/2021 31,955,00 31,955,00
09/30/2021 104,740,00
02/15/2022 45,000,00 4,150% 31,955,00 76,955,00
08/15/2022 31,021.25 31,021.25
09/30/2022 107,976.25
02/15/2023 45,000,00 4,150% 31,021,25 76,021,25
08/15/2023 30,087,50 30,087,50
09/30/2023 106,108,75
02/15/2024 45,000,00 4.150% 30,087,50 75,087,50
08/15/2024 29,153,75 29,153,75
09/30/2024 104,241.25
02/15/2025 50,000,00 4.150% 29,153.75 79,153,75
08/15/2025 28,116.25 28,116,25
09/30/2025 107,270,00
02/15/2026 50,000,00 4.150% 28,116.25 78,116,25
08/15/2026 27,078.75 27,078,75
09/30/2026 105,195,00
02/15/2027 50,000,00 4,150% 27,078,75 77,078,75
08/15/2027 26,041.25 26,041.25
09/30/2027 103,120,00
02/15/2028 615,000,00 4,150% 26,041.25 641,041.25
08/15/2028 13,280,00 13,280.00
09/30/2028 654,321.25
02/15/2029 640,000.00 4,150% 13,280,00 653,280,00
09/30/2029 653,280.00
Total $2,030,000.00 $1,623,760.13 $3,653,760.13
Scenario 3 refunding and I $2M I 412612005 I 3:58 PM
First Southwest Company
Public Finance Department Page 17
Preliminary
$2,030,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & Improvement Bonds
Series 2005 - New Money Portion
Debt Service Schedule
Part 3 of 3
Yield Statistics
Bond Year Dollars
Average Life
Average Coupon
$39,126,75
19,274 Years
4,1500000%
Net Interest Cost (NIC)
True Interest Cost (TIC)
Bond Yield for Arbitrage Purposes
All Inclusive Cost (AIC)
4,1500000%
4,1504097%
4,1505027%
4,2659798%
IRS Form 8038
Net Interest Cost
Weighted Average Maturity
4,1500000%
19.274 Years
Scenario 3 refunding and I $2M I 4/2612005 I 3:58 PM
First Southwest Company
PubliC Finance Department Page 18
Preliminary
$9,900,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & Improvement Bonds
Series 2005
Total Issue Sources And Uses
Dated OS/24/2005 I Delivered OS/24/2005
Refunding
new money
+10K
Issue
Summary
Sources Of Funds
Par Amount of Bonds
Transfers from Prior Issue Debt Service Funds
$7,570,000,00
92,000,00
$2,330,000,00
$9,900,000,00
92,000,00
Total Sources
$7 ,662,000.00
$2,330,000.00
$9,992,000.00
Uses Of Funds
Deposit to Net Cash Escrow Fund
Deposit to Project Construction Fund
Costs of Issuance
Rounding Amount
7,550,054,88
107,050,51
4,894,61
2,300,000,00
32,949.49
(2,949.49)
7,550,054,88
2,300,000,00
140,000.00
1,945,12
Total Uses
$7 ,662,000.00
$2,330,000.00
$9,992,000.00
^-
Scenario 3 refunding and I 4/27/2005 I 2:21 PM
First Southwest Company
Public Finance Department Page 1
Preliminary
$9,900,000
CoIleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refimding & Improvement Bonds
Series 2005
Debt Service Comparison
Date
09/30/2005
09/30/2006
09/30/2007
09/30/2008
09/30/2009
09/30/20 I 0
09/30/2011
09/30/2012
09/30/2013
09/30/2014
09/30/2015
09/30/2016
09/30/2017
09/30/2018
09/30/2019
09/30/2020
09/30/2021
09/30/2022
09/30/2023
09/30/2024
09/30/2025
09/30/2026
09/30/2027
09/30/2028
09/30/2029
09/30/2030
Total
Total P+I
93,555.00
430,485,00
630,550,00
626,205,00
631,440,00
660,520,00
658,550,00
661,055,00
658,035,00
659,490,00
660,315,00
660,510,00
660,075,00
659,010,00
662,210,00
659,675.00
661,405,00
657,400,00
657,660.00
661,975,00
660,345,00
662,770.00
659,250.00
649,995.00
654,795.00
653,440.00
$16,250,715.00
PV Analysis Summary (Net to Net)
Gross PV Debt Service Savings
Existing
D/S
8,312,50
230,968.75
29,531,25
32,812,50
30,937,50
$332,562.50
Net PV Cashflow Savings @ 4.334%(AIC)
Transfers from Prior Issue Debt Service Fund
Amount deposited into Construction Fund
Net Present Value Benefit
Net PV Benefit / $7,204,183 Refunded Principal
Refunding Bond Information
Refunding Dated Date
Refunding Delivery Date
Scenario 3 refunding and I 412712005 I 2:21 PM
Net New D/S
101,867,50
661,453.75
660,081.25
659,017.50
662,377.50
660,520.00
658,550.00
661,055.00
658,035.00
659,490.00
660,315.00
660,510.00
660,075.00
659,010.00
662,210,00
659,675,00
661,405.00
657,400.00
657,660.00
661,975.00
660,345,00
662,770.00
659,250.00
649,995.00
654,795,00
653,440,00
$16,583,277.50
Old Net D/S
102,138,13
602,620,0 I
601,057,51
603,838,76
600,851.26
602,051.26
602,336,26
601,650,01
604,905.63
602,197,50
603,531.25
603,751.88
602,868.13
600,921.25
602,515,00
602,487,50
601,058,75
603,077,50
602,030,00
602,696,25
605,000,00
605,000,00
605,000,00
$13,363,583.84
Savings
270,63
(58,833,74)
(59,023,74)
(55,178,74)
( 61,526,24)
(58,468,74)
(56,213,74)
(59,404,99)
(53,129,37)
(57,292,50)
(56,783,75)
(56,758,12)
(57,206,87)
(58,088,75)
(59,695,00)
(57,187,50)
( 60,346,25)
(54,322,50)
(55,630,00)
(59,278,75)
(55,345,00)
(57,770,00)
(54,250,00)
(649,995,00)
(654,795,00)
(653,440,00)
(3,219,693.66)
(1,416,651.57)
(1,416,651.57)
(92,000,00)
2,300,000,00
$791,348.43
10,985%
5/24/2005
5/24/2005
First Southwest Company
Public Finance Department Page 2
Preliminary
$9,900,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & Improvement Bonds
Series 2005
Debt Service Schedule
Part 1 of 3
Date Principal Coupon Interest Total P+I Fiscal Total
OS/24/2005
08/15/2005 93,555,00 93,555.00
09/30/2005 93,555,00
02/15/2006 15,000,00 4,200% 207,900,00 222,900.00
08/15/2006 207,585,00 207,585.00
09/30/2006 430,485,00
02/15/2007 220,000.00 4,200% 207,585,00 427,585.00
08/15/2007 202,965,00 202,965,00
09/30/2007 630,550,00
02/15/2008 225,000.00 4.200% 202,965,00 427,965,00
08/15/2008 198,240,00 198,240,00
09/30/2008 626,205,00
02/15/2009 240,000.00 4,200% 198,240,00 438,240,00
08/15/2009 193,200,00 193,200,00
09/30/2009 631,440,00
02/15/2010 280,000.00 4,200% 193,200,00 473,200,00
08/15/2010 187,320,00 187,320,00
09/30/2010 660,520.00
02/15/2011 290,000.00 4,200% 187,320,00 477,320,00
08/15/2011 181,230,00 181,230,00
09/30/2011 658,550,00
02/15/2012 305,000,00 4,200% 181,230,00 486,230,00
08/15/2012 174,825,00 174,825.00
09/30/2012 661,055,00
02/15/2013 315,000.00 4,200% 174,825,00 489,825,00
08/15/2013 168,210,00 168,210.00
09/30/2013 658,035,00
02/15/2014 330,000,00 4,200% 168,210,00 498,210.00
08/15/2014 161,280,00 161,280.00
09/30/2014 659,490,00
02/15/2015 345,000,00 4,200% 161,280,00 506,280.00
08/15/2015 154,035,00 154,035,00
09/30/2015 660,315,00
02/15/2016 360,000,00 4,200% 154,035.00 514,035,00
08/15/2016 146,475,00 146,475,00
09/30/2016 660,510.00
02/15/2017 375,000,00 4.200% 146,475,00 521,475,00
08/15/2017 138,600,00 138,600,00
09/30/2017 660,075.00
02/15/2018 390,000.00 4,200% 138,600,00 528,600,00
08/15/2018 130,410,00 130,410,00
09/30/2018 659,010,00
02/15/2019 410,000,00 4,200% 130,410,00 540,410,00
Scenario 3 refunding and I 4f2.712OO5 I 2:21 PM
First Southwest Company
Public Finance Department Page 3
Preliminary
$9,900,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refimding & Improvement Bonds
Series 2005
Debt Service Schedule
Part 2 of 3
Date Principal Coupon Interest Total P+I Fiscal Total
08/15/2019 121,800,00 121,800.00
09/30/2019 662,210,00
02/15/2020 425,000,00 4,200% 121,800,00 546,800.00
08/15/2020 112,875,00 112,875.00
09/30/2020 659,675.00
02/15/2021 445,000,00 4,200% 112,875,00 557,875,00
08/15/2021 103,530,00 103,530,00
09/30/2021 661,405,00
02/15/2022 460,000,00 4.200% 103,530,00 563,530,00
08/15/2022 93,870,00 93,870,00
09/30/2022 657,400,00
02/15/2023 480,000,00 4.200% 93,870.00 573,870,00
08/15/2023 83,790.00 83,790,00
09/30/2023 657,660,00
02/15/2024 505,000,00 4,200% 83,790.00 588,790,00
08/15/2024 73,185.00 73,185,00
09/30/2024 661,975,00
02/15/2025 525,000,00 4,200% 73,185,00 598,185,00
08/15/2025 62,160,00 62,160,00
09/30/2025 660,345,00
02/15/2026 550,000,00 4.200% 62,160.00 612,160,00
08/15/2026 50,610.00 50,610,00
09/30/2026 662,770,00
02/15/2027 570,000,00 4,200% 50,610.00 620,610,00
08/15/2027 38,640,00 38,640,00
09/30/2027 659,250,00
02/15/2028 585,000,00 4,200% 38,640.00 623,640,00
08/15/2028 26,355.00 26,355,00
09/30/2028 649,995,00
02/15/2029 615,000,00 4.200% 26,355,00 641,355,00
08/15/2029 13,440.00 13,440,00
09/30/2029 654,795.00
02/15/2030 640,000.00 4,200% 13,440,00 653,440.00
09/30/2030 653,440.00
Total $9,900,000.00 $6,350,715.00 $16,250,715.00
Scenario 3 refunding and I 4f27/2005 I 2:21 PM
First Southwest Company
Public Finance Department Page 4
Preliminary
$9,900,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & Improvement Bonds
Series 2005
Debt Service Schedule
Part3 of 3
Yield Statistics
Bond Year Dollars
Average Life
Average Coupon
$151,207,50
15.273 Years
4,2000000%
Net Interest Cost (NIC)
True Interest Cost (TIC)
Bond Yield for Arbitrage Purposes
All Inclusive Cost (AIC)
4,2000000%
4,2005009%
4,2005009%
4,3343223%
IRS Form 8038
Net Interest Cost
Weighted Average Maturity
4.2000000%
15,273 Years
Scenario 3 refunding and I 4/2712005 I 2:21 PM
First Southwest Company
Public Finance Department Page 5
Preliminary
$9,900,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & hnprovement Bonds
Series 2005
Pricing Summary
Type of
Maturity Bond Coupon Yield
02/15/2006 Serial Coupon 4,200% 4.200%
02/15/2007 Serial Coupon 4,200% 4,200%
02/15/2008 Serial Coupon 4,200% 4.200%
02/15/2009 Serial Coupon 4,200% 4.200%
02/15/20 I 0 Serial Coupon 4,200% 4.200%
02/15/20 II Serial Coupon 4,200% 4.200%
02/15/2012 Serial Coupon 4,200% 4.200%
02/15/2013 Serial Coupon 4,200% 4,200%
02/15/2014 Serial Coupon 4,200% 4,200%
02/15/2015 Serial Coupon 4,200% 4,200%
02/15/2016 Serial Coupon 4,200% 4,200%
02/15/2017 Serial Coupon 4,200% 4,200%
02/15/2018 Serial Coupon 4,200% 4,200%
02/15/2019 Serial Coupon 4,200% 4,200%
02/15/2020 Serial Coupon 4.200% 4,200%
02/15/2021 Serial Coupon 4,200% 4,200%
02/15/2022 Serial Coupon 4,200% 4.200%
02/15/2023 Serial Coupon 4,200% 4.200%
02/15/2024 Serial Coupon 4,200% 4.200%
02/15/2025 Serial Coupon 4,200% 4.200%
02/15/2026 Serial Coupon 4,200% 4,200%
02/15/2027 Serial Coupon 4,200% 4.200%
02/15/2028 Serial Coupon 4,200% 4.200%
02/15/2029 Serial Coupon 4,200% 4,200%
02/15/2030 Serial Coupon 4,200% 4.200%
Total
Bid Information
Par Amount of Bonds
Gross Production
Bid (100,000%)
Total Purchase Price
Bond Year Dollars
Average Life
Average Coupon
Net Interest Cost (NIC)
True Interest Cost (TIC)
Scenario 3 refunding and I 4/2712005 I 2:21 PM
Maturity
Value Price Dollar Price
15,000,00 100.000% 15,000,00
220,000,00 100.000% 220,000,00
225,000,00 100.000% 225,000,00
240,000,00 100.000% 240,000,00
280,000,00 100,000% 280,000,00
290,000,00 100,000% 290,000,00
305,000,00 100,000% 305,000,00
315,000,00 100,000% 315,000.00
330,000,00 100,000% 330,000.00
345,000.00 100,000% 345,000.00
360,000,00 100,000% 360,000.00
375,000,00 100,000% 375,000,00
390,000,00 100,000% 390,000.00
410,000.00 100,000% 410,000,00
425,000.00 100,000% 425,000.00
445,000,00 100,000% 445,000.00
460,000,00 100,000% 460,000.00
480,000,00 100,000% 480,000,00
505,000,00 100,000% 505,000,00
525,000,00 100,000% 525,000,00
550,000,00 100.000% 550,000,00
570,000,00 100.000% 570,000,00
585,000,00 100.000% 585,000,00
615,000,00 100.000% 615,000,00
640,000,00 100,000% 640,000,00
$9,900,000.00 $9,900,000.00
$9,900,000,00
$9,900,000,00
9,900,000,00
$9,900,000,00
$151,207,50
15,273 Years
4,2000000%
4,2000000%
4.2005009%
First Southwest Company
Public Finance Department Page 6
Preliminary
$7,570,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & Improvement Bonds
Series 2005 - Refunding Portion
Debt Service Comparison
Date
09/30/2005
09/30/2006
09/30/2007
09/30/2008
09/30/2009
09/30/2010
09/30/2011
09/30/2012
09/30/2013
09/30/2014
09/30/2015
09/30/2016
09/30/2017
09/30/2018
09/30/2019
09/30/2020
09/30/2021
09/30/2022
09/30/2023
09/30/2024
09/30/2025
09/30/2026
09/30/2027
Total
Total P+I
71,536,50
317,940,00
518,635,00
514,920,00
515,890,00
545,810,00
549,575,00
547,815.00
550,530.00
547,720.00
549,385.00
550,420.00
550,825.00
545,705.00
549,955.00
548,470.00
546,355.00
548,505.00
549,815.00
550,285.00
549,915.00
553,600.00
551,340.00
$11,824,946.50
PV Analysis Summary (Net to Net)
Gross PV Debt Service Savings
Existing
D/S
8,312.50
230,968,75
29,531.25
32,812,50
30,937,50
$332,562.50
Net PV Cashflow Savings @ 4.347%(AIC)
Transfers from Prior Issue Debt Service Fund
Net Present Value Benefit
Net PV Benefit / $7,204,183 Refunded Principal
Refunding Bond Information
Refunding Dated Date
Refunding Delivery Date
Scenario 3 refunding and I 4/27/2005 I 2:21 PM
Net New D/S Old Net D/S Savings
79,849,00 102,138.13 22,289,13
548,908.75 602,620.01 53,711.26
548,166,25 601,057.51 52,891.26
547,732,50 603,838,76 56,106,26
546,827.50 600,851.26 54,023,76
545,810,00 602,051,26 56,241.26
549,575.00 602,336,26 52,761.26
547,815.00 601,650,01 53,835.01
550,530.00 604,905,63 54,375.63
547,720.00 602,197,50 54,477.50
549,385,00 603,531.25 54,146.25
550,420,00 603,751.88 53,331,88
550,825,00 602,868,13 52,043,13
545,705,00 600,921.25 55,216,25
549,955,00 602,515,00 52,560,00
548,470,00 602,487,50 54,017,50
546,355,00 601,058,75 54,703,75
548,505,00 603,077,50 54,572,50
549,815,00 602,030,00 52,215,00
550,285,00 602,696,25 52,411,25
549,915,00 605,000,00 55,085.00
553,600.00 605,000,00 51,400,00
551,340,00 605,000,00 53,660,00
$12,157,509.00 $13,363,583.84 $1,206,074.84
870,110.49
870,110.49
(92,000,00)
$778,110.49
10.801%
5/24/2005
5/24/2005
First Southwest Company
Public Finance Department Page 7
Preliminary
$7,570,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & Improvement Bonds
Series 2005 - Refunding Portion
Debt Service Schedule
Part 1 of 2
Date Principal Coupon Interest Total P+I Fiscal Total
OS/24/2005
08/15/2005 71,536,50 71,536,50
09/30/2005 71,536,50
02/15/2006 158,970,00 158,970,00
08/15/2006 158,970,00 158,970,00
09/30/2006 317,940.00
02/15/2007 205,000,00 4.200% 158,970,00 363,970.00
08/15/2007 154,665,00 154,665.00
09/30/2007 518,635.00
02/15/2008 210,000,00 4.200% 154,665.00 364,665,00
08/15/2008 150,255.00 150,255,00
09/30/2008 514,920,00
02/15/2009 220,000,00 4,200% 150,255,00 370,255,00
08/15/2009 145,635.00 145,635,00
09/30/2009 515,890,00
02/15/2010 260,000,00 4.200% 145,635.00 405,635,00
08/15/2010 140,175.00 140,175,00
09/30/2010 545,810,00
02/15/2011 275,000,00 4,200% 140,175.00 415,175,00
08/15/2011 134,400.00 134,400,00
09/30/2011 549,575,00
02/15/2012 285,000,00 4,200% 134,400.00 419,400,00
08/15/2012 128,415.00 128,415,00
09/30/2012 547,815,00
02/15/2013 300,000,00 4,200% 128,415.00 428,415,00
08/15/2013 122,115.00 122,115,00
09/30/2013 550,530,00
02/15/2014 310,000,00 4.200% 122,115,00 432,115,00
08/15/2014 115,605.00 115,605,00
09/30/2014 547,720,00
02/15/2015 325,000,00 4.200% 115,605,00 440,605,00
08/15/2015 108,780.00 108,780,00
09/30/2015 549,385,00
02/15/2016 340,000,00 4.200% 108,780,00 448,780,00
08/15/2016 101,640,00 101,640,00
09/30/2016 550,420.00
02/15/2017 355,000,00 4.200% 101,640,00 456,640,00
08/15/2017 94,185,00 94,185.00
09/30/2017 550,825,00
02/15/2018 365,000.00 4,200% 94,185,00 459,185,00
08/15/2018 86,520,00 86,520.00
09/30/2018 545,705.00
02/15/2019 385,000.00 4,200% 86,520,00 471,520,00
Scenario 3 refunding and I 4/2712005 I 2:21 PM
First Southwest Company
Public Finance Department Page 8
Preliminary
$7,570,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & Improvement Bonds
Series 2005 - Refunding Portion
Debt Service Schedule
Part 2 of 2
Scenario 3 refunding and I 412712005 I 2:21 PM
First Southwest Company
Public Finance Department Page 9
Preliminary
$7,570,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & Improvement Bonds
Series 2005 - Refunding Portion
Escrow Fund Cashflow
Cash
Date Principal Rate Interest +Transfers Receipts Disbursements Balance
OS/24/2005 15,88 15,88
08/15/2005 72,986,00 2.630% 20,288,74 92,550,21 185,824,95 185,825.63 15,20
02/15/2006 5,168,810,00 3.140% 162,016,26 5,330,826,26 5,330,825,63 15,83
08/15/2006 4,504,00 3,270% 43,292,23 47,796,23 47,796.25 15,81
02/15/2007 4,577,00 3.470% 43,218,59 47,795,59 47,796.25 15,15
08/15/2007 4,657.00 3.670% 43,139,18 47,796,18 47,796.25 15,08
02/15/2008 4,743.00 3.760% 43,053,72 47,796,72 47,796,25 15,55
08/15/2008 4,832.00 3,840% 42,964,56 47,796,56 47,796,25 15,86
02/15/2009 2,192,930.00 3.910% 42,871.78 2,235,801.78 2,235,802,64 15,00
Total $7,458,039.00 $440,845.06 $92,550.21 $7,991,450.15 $7,991,435.15
Investment Parameters
Investment Model [PV, GIC, or Securities]
Default investment yield target
Securities
Bond Yield
Cost of Investments Purchased with Fund Transfers
92,000.00
Cash Deposit
Cost of Investments Purchased with Bond Proceeds
Total Cost ofInvestments
15,88
7,458,039,00
$7,550,054,88
Target Cost of Investments at bond yield
Actual positive or (negative) arbitrage
$7,397,996,58
(60,058,30)
Yield to Receipt
Yield for Arbitrage Purposes
3,6665017%
4,2005009%
State and Local Government Series (SLGS) rates for
4/08/2005
Scenario 3 refunding and I 4/2712005 I 2:21 PM
First Southwest Company
Public Finance Department Page 10
Preliminary
$7,570,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & Improvement Bonds
Series 2005 - Refunding Portion
Summary Of Bonds Refunded
of Maturity Call
Issue Maturity Type Bond Coupon Value Call Date Price
Dated 8/15/2002 Delivered 8/15/2002
97 sales tax rev 02/1512007 Serial Coupon 5,000% 205,000 02/1512006 100,000%
97 sales tax rev 02/1512008 Serial Coupon 5,000% 215,000 02/1512006 100,000%
97 sales tax rev 02/1512009 Serial Coupon 5,100% 225,000 02/1512006 100,000%
97 sales tax rev 02/15120 I 0 Serial Coupon 5,250% 240,000 02/15/2006 100,000%
97 sales tax rev 02/15120 II Serial Coupon 5,300% 255,000 02/1512006 100,000%
97 sales tax rev 02/1512012 Serial Coupon 5,375% 270,000 02/1512006 100,000%
97 sales tax rev 02/1512013 Serial Coupon 5,375% 285,000 02/15/2006 100,000%
97 sales tax rev 02/1512014 Serial Coupon 5,375% 300,000 02/1512006 100,000%
97 sales tax rev 02/1512015 Serial Coupon 5,375% 320,000 02/1512006 100,000%
97 sales tax rev 02/1512016 Serial Coupon 5,375% 335,000 02/15/2006 100,000%
97 sales tax rev 02/1512017 Serial Coupon 5.375% 355,000 02/15/2006 100,000%
97 sales tax rev 02/1512018 Serial Coupon 5,375% 380,000 02/15/2006 100,000%
97 sales tax rev 02/1512019 Serial Coupon 5,500% 400,000 02/15/2006 100,000%
97 sales tax rev 02/15/2020 Serial Coupon 5,500% 425,000 02/15/2006 100,000%
97 sales tax rev 02/1512021 Serial Coupon 5,500% 455,000 02/1512006 100,000%
97 sales tax rev 02/1512022 Serial Coupon 5.500% 480,000 02/1512006 100,000%
Subtotal $5,145,000
Dated 4/25/2000 I Delivered 4125/2000
2000 sales tax rev 2 02/15/2010 Serial Coupon 5,500% 30,000 02/1512009 100,000%
2000 sales tax rev 2 02/15/20 II Serial Coupon 5,550% 30,000 02/1512009 100,000%
2000 sales tax rev 2 02/15/2012 Serial Coupon 5,600% 30,000 02/15/2009 100,000%
2000 sales tax rev 2 02/1512013 Serial Coupon 5,650% 35,000 02/1512009 100,000%
2000 sales tax rev 2 02/1512014 Serial Coupon 5,700% 35,000 02/15/2009 100,000%
2000 sales tax rev 2 02/1512015 Serial Coupon 5,750% 35,000 02/1512009 100.000%
2000 sales tax rev 2 02/1512016 Serial Coupon 5,850% 40,000 02/1512009 100.000%
2000 sales tax rev 2 02/1512017 Serial Coupon 5,850% 40,000 02/1512009 100.000%
2000 sales tax rev 2 02/1512018 Serial Coupon 5,850% 35,000 02/1512009 100.000%
2000 sales tax rev 2 02/1512019 Serial Coupon 5,850% 40,000 02/1512009 100.000%
2000 sales tax rev 2 02/1512020 Serial Coupon 5,850% 40,000 02/15/2009 100,000%
2000 sales tax rev 2 02/1512021 Serial Coupon 6,050% 35,000 02/1512009 100,000%
2000 sales tax rev 2 02/1512022 Serial Coupon 6.050% 40,000 02/1512009 100,000%
2000 sales tax rev 2 02/1512023 Serial Coupon 6.050% 550,000 02/1512009 100,000%
2000 sales tax rev 2 02/1512024 Serial Coupon 6.050% 585,000 02/15/2009 100,000%
2000 sales tax rev 2 02/1512025 Serial Zero 605,000 02/1512009 100,000%
2000 sales tax rev 2 02/1512026 Serial Zero 605,000 02/15/2009 100,000%
2000 sales tax rev 2 02/15/2027 Serial Zero 605,000 02/1512009 100,000%
Subtotal $3,415,000
Total $8,560,000
Scenario 3 refunding and I 4/27/2005 I 2:21 PM
First Southwest Company
Public Finance Department Page 11
Preliminary
City of Colleyville, Texas
Sales Tax Revenue Bonds, Series 1997
Debt Service To Maturity And To Call
Refunded Interest to Refunded
Date Bonds Call DIS To Call Principal Coupon Interest DIS
08/15/2005 138,029,38 138,029,38 138,029,38 138,029,38
02/15/2006 5,145,000.00 138,029,38 5,283,029,38 5.000% 138,029,38 138,029,38
08/15/2006 138,029,38 138,029,38
02/15/2007 205,000,00 5.000% 138,029,38 343,029,38
08/15/2007 132,904,38 132,904,38
02/15/2008 215,000,00 5,000% 132,904,38 347,904,38
08/15/2008 127,529,38 127,529,38
02/15/2009 225,000,00 5,100% 127,529,38 352,529.38
08/15/2009 121,791.88 121,791.88
02/15/2010 240,000,00 5,250% 121,791.88 361,791.88
08/15/2010 115,491.88 115,491.88
02/15/2011 255,000,00 5,300% 115,491.88 370,491.88
08/15/2011 108,734,38 108,734,38
02/15/2012 270,000,00 5,375% 108,734.38 378,734,38
08/15/2012 101,478.13 101,478,13
02/15/2013 285,000.00 5,375% 101,478.13 386,478,13
08/15/2013 93,818,75 93,818,75
02/15/2014 300,000.00 5,375% 93,818,75 393,818,75
08/15/2014 85,756,25 85,756,25
02/15/2015 320,000,00 5.375% 85,756,25 405,756,25
08/15/2015 77,156,25 77,156,25
02/15/2016 335,000,00 5,375% 77,156,25 412,156.25
08/15/2016 68,153,13 68,153,13
02/15/2017 355,000,00 5,375% 68,153,13 423,153,13
08/15/2017 58,612,50 58,612,50
02/15/2018 380,000,00 5,375% 58,612,50 438,612,50
08/15/2018 48,400,00 48,400,00
02/15/2019 400,000,00 5,500% 48,400,00 448,400,00
08/15/2019 37,400,00 37,400,00
02/15/2020 425,000.00 5.500% 37,400,00 462,400,00
08/15/2020 25,712,50 25,712,50
02/15/2021 455,000,00 5.500% 25,712,50 480,712,50
08/15/2021 13,200,00 13,200,00
02/15/2022 480,000,00 5,500% 13,200,00 493,200.00
Total $5,145,000.00 $276,058.76 $5,421,058.76 $5,145,000.00 $2,984,396.34 $8,129,396.34
Yield Statistics
Average Life 10.426 Years
Weighted Average Maturity (Par Basis) 10.426 Years
Average Coupon 5.4222099%
Refunding Bond Information
-. Refunding Dated Date 5/24/2005
Refunding Delivery Date 5/24/2005
97 sales tax rev I 4/27/2005 I 2:21 PM
First Southwest Company
Public Finance Department Page 12
-
Preliminary
City of Colleyville, Texas
Sales Tax Revenue Bonds, Series 2000
Debt Service To Maturity And To Call
Refunded Interest to Refunded
Date Bonds Call DIS To Call Principal Coupon Interest DIS
08/15/2005 47.796.25 47,796.25 47,796.25 47,796.25
02/15/2006 47,796,25 47,796.25 6.250% 47,796.25 47.796.25
08/15/2006 47,796,25 47,796.25 47,796.25 47.796.25
02/15/2007 47.796,25 47,796.25 6,250% 47,796.25 47,796.25
08/15/2007 47,796.25 47,796.25 47,796,25 47.796.25
02/15/2008 47,796,25 47,796,25 6,250% 47,796.25 47,796.25
08/15/2008 47,796.25 47.796,25 47,796.25 47,796,25
02/15/2009 2,188,006.39 47,796.25 2,235,802,64 6.250% 47,796,25 47,796.25
08/15/2009 47,796.25 47,796.25
02/15/2010 30,000,00 5.500% 47,796.25 77.796.25
08/15/2010 46,971.25 46,971.25
02/15/2011 30,000,00 5.550% 46.971.25 76,971.25
08/15/2011 46,138,75 46.138.75
02/15/2012 30,000.00 5,600% 46,138.75 76.138.75
08/15/2012 45,298.75 45,298.75
02/15/2013 35,000,00 5.650% 45,298,75 80,298.75
08/15/2013 44,310,00 44,310.00
02/15/2014 35,000.00 5,700% 44,310.00 79,310,00
08/15/2014 43,312.50 43,312,50
02/15/2015 35,000.00 5,750% 43,312.50 78,312,50
08/15/2015 42.306,25 42,306.25
02/15/2016 40.000.00 5.850% 42,306.25 82,306,25
08/15/2016 41.136.25 41,136.25
02/15/2017 40,000.00 5.850% 41,136.25 81.136,25
08/15/2017 39,966.25 39,966.25
02/15/2018 35,000.00 5.850% 39,966.25 74.966.25
08/15/2018 38,942.50 38.942.50
02/15/2019 40,000,00 5.850% 38,942,50 78,942.50
08/15/2019 37,772.50 37,772.50
02/15/2020 40,000,00 5.850% 37,772,50 77,772.50
08/15/2020 36,602.50 36,602,50
02/15/2021 35,000,00 6,050% 36,602.50 71,602.50
08/15/2021 35.543.75 35,543,75
02/15/2022 40.000,00 6.050% 35.543,75 75,543.75
08/15/2022 34,333.75 34,333,75
02/15/2023 550,000.00 6,050% 34,333.75 584,333.75
08/15/2023 17,696,25 17,696,25
02/15/2024 585,000,00 6,050% 17,696.25 602,696,25
02/15/2025 163,324,16 6.750% 441.675.84 605,000.00
02/15/2026 152,837.33 6.750% 452,162.67 605,000,00
02/15/2027 143,021.03 6.750% 461.978.97 605,000,00
Total $2,188,006.39 $382,370.00 $2,570,376.39 $2,059,182.52 $2,934,442,48 $4,993,625.00
Yield Statistics
A verag;e Life 17.158 Years
Weig;hted Averag;e Maturity (Par Basis) 17.158 Years
Average Coupon 8.2311103%
Refunding Bond Information
-
Refunding; Dated Date 5/24/2005
Refunding Delivery Date 5/24/2005
2000 sales tax rev 2 I 4/27/2005 I 2:21 PM
First Southwest Company
Public Finance Department Page 13
...
Preliminary
$2,330,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & Improvement Bonds
Series 2005 - New Money Portion
Debt Service Schedule
Part 1 of 3
Date Principal Coupon Interest Total P+I Fiscal Total
OS/24/2005
08/15/2005 22,018,50 22,018,50
09/30/2005 22,018,50
02/15/2006 15,000,00 4,200% 48,930,00 63,930,00
08/15/2006 48,615,00 48,615,00
09/30/2006 112,545,00
02/15/2007 15,000,00 4,200% 48,615,00 63,615,00
08/15/2007 48,300,00 48,300,00
09/30/2007 111,915,00
02/15/2008 15,000,00 4.200% 48,300,00 63,300,00
08/15/2008 47,985,00 47,985,00
09/30/2008 111,285,00
02/15/2009 20,000.00 4.200% 47,985.00 67,985.00
08/15/2009 47,565,00 47,565,00
09/30/2009 115,550,00
02/15/2010 20,000.00 4,200% 47,565,00 67,565,00
08/15/2010 47,145,00 47,145,00
09/30/2010 114,710,00
02/15/2011 15,000,00 4,200% 47,145,00 62,145,00
08/15/2011 46,830,00 46,830,00
09/30/2011 108,975,00
02/15/2012 20,000,00 4.200% 46,830.00 66,830,00
. 08/15/2012 46,410.00 46,410,00
09/30/2012 113,240.00
02/15/2013 15,000.00 4,200% 46,410.00 61,410,00
08/15/2013 46,095,00 46,095,00
09/30/2013 107,505,00
02/15/2014 20,000,00 4,200% 46,095,00 66,095,00
08/15/2014 45,675,00 45,675,00
09/30/2014 111,770,00
02/15/2015 20,000,00 4,200% 45,675,00 65,675,00
08/15/2015 45,255,00 45,255,00
09/30/2015 110,930.00
02/15/2016 20,000.00 4,200% 45,255.00 65,255,00
08/15/2016 44,835,00 44,835.00
09/30/2016 110,090,00
02/15/2017 20,000,00 4,200% 44,835,00 64,835.00
08/15/2017 44,415,00 44,415,00
09/30/2017 109,250,00
02/15/2018 25,000,00 4,200% 44,415,00 69,415,00
08/15/2018 43,890,00 43,890.00
09/30/2018 113,305.00
02/15/2019 25,000.00 4,200% 43,890.00 68,890,00
Scenario 3 refunding and I 412712005 I 2:21 PM
First Southwest Company
Public Finance Department Page 14
Preliminary
$2,330,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & Improvement Bonds
Series 2005 - New Money Portion
Debt Service Schedule
Part 2 of 3
Date Principal Coupon Interest Total P+I Fiscal Total
08/15/2019 43,365,00 43,365,00
09/30/2019 112,255.00
02/15/2020 25,000,00 4.200% 43,365,00 68,365,00
08/15/2020 42,840,00 42,840,00
09/30/2020 111,205.00
02/15/2021 30,000,00 4.200% 42,840,00 72,840,00
08/15/2021 42,210,00 42,210,00
09/30/2021 115,050,00
02/15/2022 25,000.00 4,200% 42,210,00 67,210,00
08/15/2022 41,685,00 41,685,00
09/30/2022 108,895,00
02/15/2023 25,000,00 4,200% 41,685,00 66,685.00
08/15/2023 41,160,00 41,160,00
09/30/2023 107,845,00
02/15/2024 30,000,00 4,200% 41,160,00 71,160.00
08/15/2024 40,530,00 40,530,00
09/30/2024 111,690,00
02/15/2025 30,000,00 4,200% 40,530.00 70,530,00
08/15/2025 39,900.00 39,900,00
09/30/2025 110,430,00
02/15/2026 30,000,00 4,200% 39,900.00 69,900,00
08/15/2026 39,270,00 39,270,00
09/30/2026 109,170,00
02/15/2027 30,000,00 4,200% 39,270,00 69,270,00
08/15/2027 38,640,00 38,640,00
09/30/2027 107,910,00
02/15/2028 585,000,00 4,200% 38,640,00 623,640,00
08/15/2028 26,355,00 26,355,00
09/30/2028 649,995,00
02/15/2029 615,000,00 4,200% 26,355,00 641,355,00
08/15/2029 13,440,00 13,440.00
09/30/2029 654,795,00
02/15/2030 640,000,00 4,200% 13,440.00 653,440,00
09/30/2030 653,440,00
Total $2,330,000.00 $2,095,768.50 $4,425,768.50
Scenario 3 refunding and I 4/2712005 I 2:21 PM
First Southwest Company
Public Finance Department Page 15
Preliminary
$2,330,000
Colleyville Economic Development Corporation
Junior Lien Sales Tax Revenue Refunding & hnprovement Bonds
Series 2005 - New Money Portion
Debt Service Schedule
Part 3 of 3
Yield Statistics
Bond Year Dollars
Average Life
Average Coupon
$49,899,25
21.416 Years
4,2000000%
Net Interest Cost (NIC)
True Interest Cost (TIC)
Bond Yield for Arbitrage Purposes
All Inclusive Cost (AIC)
4,2000000%
4,2003895%
4,2005009%
4,3043874%
IRS Form 8038
Net Interest Cost
Weighted Average Maturity
4,2000000%
21.416 Years
Scenario 3 refunding and I 4/27/2005 I 2:21 PM
-
First Southwest Company
Public Finance Department Page 16
PRE COUNCIL cae'"
IL~.X~:;
AGENDA BRIEFING
MEETING DATE: 05/03/05 CITY MANAGER .~
ITEM#: PC-4 DEPARTMENT HEAD ~
REPORT: ! FINANCE REVIEW I~ ~ N/A
Previous Action: None
DEPARTMENT: FINANCE
SUBJECT: Presentation of the Quarterly Investment Report
During the period January 1, 2005 through March 31, 2005, the City of Colleyville had an
average of $33,972,075 invested on a daily basis, which earned $183,033 with an average
yield of 2.17%. The average yield on investments for this quarter is up .18% from prior
quarter's average yield of 1.99%. The City had 99.7% of idle funds invested daily and the
amount held in the depository account earned interest at an average of .15%.
As of March 31, 2005, the City had $34,077,634 invested in the LOGIC investment Pool and
various debt instruments in the following percentages:
LOGIC Investment Pool
Treasury Notes
FNMA Notes
FHLB Notes
FH LB Bond
FHLMC Notes
27.86%
23.78%
17.34 %
15.79%
11.88%
3.35%
These percentages are within the guidelines for portfolio diversification in the City's investment
policy. The market value of the City's investments including accrued interest at March 31,
2005, was $24,563,563, as compared to a purchase price of $24,562,927 (this excludes
LOGIC Investment Pool).
The Colleyville Economic Development Corporation currently holds a Treasury Note
($500,000) with a market value including accrued interest of $499,585. Additionally, $861,458
was invested in the Corporation's name in the LOGIC Investment Pool. These funds earned
interest of $8,231 for the quarter.
Attached is the allocation of the City's investments and LOGIC Investment Pool by fund and
investments held during the quarter and quarterly interest earnings by investment. Also
attached is the quarterly investment information compiled by the LOGIC Investment Pool to
meet investment legislation requirements.
OUTSTANDING INVESTMENTS AT MARCH 31, 2005
PURCHASE
PRICE
PAR
VALUE
MARKET VALUE
@ 3131105
MATURITY
DATE
YIELD ON
INVESTMENT
FHLB BOND $1,295,937 $1,300,000 $1,308,876 411512005 2,033%
TREASURY NOTE $1,099,226 $1,100,000 $1,106,414 413012005 1.700%
TREASURY NOTE $1,300,834 $1,300,000 $1,307,580 413012005 1.560%
FHLB NOTE $850,000 $850,000 $854,412 511712005 1,800%
FNMA NOTE $798,616 $800,000 $804,504 512712005 2.050%
FHLB BOND $1,650,000 $1,650,000 $1,656,567 611512005 1.625%
FNMA NOTE $1,045,734 $1,050,000 $1,053,665 71612005 1.783%
FHLB NOTE $1,464,963 $1,450,000 $1,450,442 9112/2005 1.520%
FHLB NOTE $1,314,435 $1,330,000 $1,320,413 911512005 2.400%
FNMA NOTE $1,262,238 $1,260,000 $1,255,556 912112005 1.380%
TREASURY NOTE $1,241,407 $1,250,000 $1,247,376 1013112005 2.187%
FHLB NOTE $1,253,384 $1,250,000 $1,249,811 1111512005 1.950%
FHLMC NOTE $1,137,506 $1,140,000 $1,134,987 12/1512005 2.362%
FNMA NOTE $897,188 $900,000 $898,926 12/1512005 2.664%
TREASURY NOTE $1,099,160 $1,110,000 $1,103,670 12/3112005 2.543%
FNMA NOTE $827,360 $800,000 $818,004 2/1512006 2.725%
TREASURY NOTE $1,163,210 $1,172,000 $1,154,905 2/2812006 2.136%
TREASURY NOTE $980,938 $1,000,000 $980,938 313112006 3.456%
TREASURY NOTE $1,172,000 $1,172,000 $1,167,376 413012006 2.249%
FHLB BOND $1,108,103 $1,100,000 $1,103,091 51512006 2.560%
FNMA NOTE $1,100,688 $1,100,000 $1,090,071 712812006 2.885%
FHLB NOTE $500,000 $500,000 $495,978 813012006 3.092%
TOTAL OUTSTANDING INVESTMENTS $24,562,927 $24,584,000 $24,563,563
CITY OF COLLEYVILLE BALANCES AT MARCH 31, 2005
INVESTMENT PURCHASES
$24,584,000
LOGIC INVESTMENT POOL
$9,493,634
TOTAL CITY INVESTMENTS HELD AT MARCH 31, 2005
COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION BALANCES AT MARCH 31, 2005
INVESTMENT PURCHASES
$498,672
LOGIC INVESTMENT POOL
$861,459
TOTAL CEDC INVESTMENTS HELD AT MARCH 31, 2005
TOTAL INVESTMENTS HELD BY CITY OF COLLEYVILLE
AND COLLEYVILLE ECONOMIC DEVELOPMENT CORP AT MARCH 31, 2005
$35,437,764
INTEREST EARNINGS ON CITY OF COLLEYVILLE INVESTMENTS JANUARY 1 - MARCH 31,2005
PURCHASE PAR MATURITY YIELD ON INTEREST
PRICE VALUE DATE INVESTMENT EARNED
TREASURY NOTE $1,000,937 $1,000,000 3/31/2005 1,521% $3,750
FHLB BOND $1,295,937 $1,300,000 4/15/2005 2.033% $6,517
TREASURY NOTE $1,099,226 $1,100,000 4/30/2005 1.700% $4,611
TREASURY NOTE $1,300,834 $1,300,000 4/30/2005 1,560% $5,001
FHLB NOTE $850,000 $850,000 5/17/2005 1,800% $3,773
FNMA NOTE $798,616 $800,000 5/27/2005 2.050% $4,044
FHLMC NOTE $1,650,000 $1,650,000 6/15/2005 1.625% $6,611
FHLB BOND $1,045,734 $1,050,000 7/6/2005 1.783% $4,616
FFCB DISCOUNT $1,399,986 $1,415,000 9/12/2005 1,520% $5,303
FHLB NOTE $1,314,435 $1,330,000 9/15/2005 2.400% $7,871
FNMA NOTE $1,262,237 $1,260,000 9/21/2005 1.380% $4,287
TREASURY NOTE $1,241,406 $1,250,000 10/31/2005 2.187% $6,741
FHLB NOTE $1,253,384 $1,250,000 11/15/2005 1.950% $6,010
FHLMC NOTE $1,137,506 $1,140,000 12/15/2005 2,362% $6,639
FNMA NOTE $897,188 $900,000 12/15/2005 2,664% $5,912
TREASURY NOTE $1,099,160 $1,110,000 12/31/2005 2.543% $6,960
FNMA NOTE $827,360 $800,000 2/15/2006 2.725% $5,375
TREASURY NOTE $1,163,210 $1,172,000 2/28/2006 2,136% $6,173
TREASURY NOTE $1,172,000 $1,172,000 4/30/2006 2.249% $6,499
FHLB BOND $1,108,103 $1,110,000 5/5/2006 2.560% $7,007
FNMA NOTE $1,100,688 $1,100,000 7/28/2006 2,885% $7,825
FHLB NOTE $500,000 $500,000 8/30/2006 3.092Ok $3,812
TOTAL INTEREST EARNED ON CITY INVESTMENTS HELD 1-1-05 THROUGH 3-31-05 $125,338
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LISTING OF INVESTMENTS
BY GENERAL LEDGER
ACCOUNT NUMBER
OUTSTANDING INVESTMENTS AT 3-31-05
ACCOUNT ALLOCATION OF INVESTMENT INVESTMENT G/L TOTAL
001-1172 GENERAL FUND OPERATING $6,450,251.45
002-1166 UTILITY DEBT SERVICE RESERVE $858,894.70
002-1169 98 REVENUE BONDS $590,000.00
002-1172 UTILITY FUND OPERATING $6,342,757.44
002-1174 WATER IMPACT FEE $1,777,031.06
002-1178 CUSTOMER DEPOSITS $350,905.00
003-1173 SERVICE AREA I - IMP FEES $1,474,141.51
003-1180 BEDFORD BRIDGE ESCROW $31.435.84
003-1182 PLEASANT RUN LAUREL OAKS $52,85730
003-1188 TOWN CENTER/HWY26 $32,136.00
003-1192 MCDONWELL WOODS EST ESCROW $9,123.76
003-1200 LONGWOOD-PARKING ESCROW $12,138.18
003-1203 SERVICE AREA II - IMP FEES $239,058.87
003-1204 BEDFORD LAKES/SOMERSET $206,818.99
003-1209 PECAN PARK II DRAINAGE ESCROW $3,263.94
003-1212 GLADE RD/PLEAS RUN CHURCH ESCROW $29,470.41
003-1216 BOGART/HIDDEN OAKS/SANDLIN $245,743.22
003-1217 CHURCH STREET CULVERT ESCROW $7,856.91
003-1228 PLEASANT RUN HARDAGE ESTATESIESC $40,935.60
003-1229 GLADE RD SUMMER BROOK $52,444.91
003-1231 LAKEWOOD ESCROW $23,109.88
003-1236 E. GLADE CRANBROOK ESCROW $106,86127
003-1237 E. GLADE ASHMORE I ESCROW $47,660.01
003-1239 GLADE POINTS LANDSCAPE ESCROW $4,166.35
003-1247 GLADEIWAYSIDE ESCROW $38,482.88
003-1250 REATTA PLACE $87,104.04
003-1257 ASHMORE II A GLADE RD ESCROW $25,489.55
003-1268 MILL CREEK! GLADE ESCROW $27,731.18
003-1271 ASHMORE 1111 GLADE ESCROW $58,628.22
003-1278 GLADE RD/ASHMORE liB ESCROW $32,649.95
003-1301 LAKEWOOD PH IV $71,28905
003-1303 OAKBROOK HILLS $56,14828
003-1304 VILLAS DEL MAR $53,365.53
003-1307 SPRING GARDEN $86,319.83
003-1313 APPLEBEE'S $41,128.24
003-1319 REMINGTON PARK $150,246.27
003-1323 SHAll MAR $65,365.81
003-1325 PECAN GARDENS $27,659.41
003-1330 REMINGTON PARK $69,23022
003-1357 CITGO/LD LOCKETT $52,36327
003-1360 REMINGTON PARK PH III $72,604.30
003-1392 CLAIRMONT-PHI $102,697.76
003-1404 TANGLEWOOD $24,067.77
003-1418 CLAIRMONT-PH II $135,212.23
003-1421 OLD GROVE TRAIL $64,584.00
004-1172 DEBT SERVICE FUND $521,024.43
005-1172 VOLUNTARY PARK FUND $573,695.87
011-1172 LIBRARY DONATIONS FUND $309,454.31
012-1172 PARK LAND DEDICATION FUND $1,874,856.79
017-1136 95 BONDS-DRAINAGE $223,425.04
017-1172 DRAINAGE FUND OPERATING $521,051.54
024-1172 CEDC OPERATING $498.671.88
026-1172 TIF OPERATING $199,196.43
PER GENERAL LEDGER $25,052,806.68
PURCHASE PRICE $25,061,596.68
VALUE AT MATURITY $25,084,000.00
INTEREST RECEIVED AT MATURITY $723,61389
OUTSTANDING INVESTMENTS AT 3-31-05
INVESTMENT FHLB FHLMC FHLB FNMA FHLB FNMA
NOTE NOTE BOND NOTE NOTE NOTE
DATE ACQUIRED 17-Nov-03 1S-Dec-03 15-Dec-03 31.Dec-03 27 -Feb-04 19..Mar-04
MATURITY DATE 17 -May-OS 15-0ec-05 15-Jun-05 06-Jul-05 12-Sep-OS 21-Sep-05
26 WEEK T-BILL AUCTION DISCOUNTIWEEK OF PURCHASE 1.010% 0.980% 0.980% 0.995% 0.935% 0,990%
YIELD TO MATURITY 1.800% 2.362% 1.625% 1.783% 1.520% 1.380%
ACCOUNT ALLOCATION OF INVESTMENT
001-1172 GENERAL FUND OPERATING 850,000.00 1,045,734.38 137,502.68
002-1166 UTILITY DEBT SERVICE RESERVE 29,460.61 307,771.38
002-1169 98 REVENUE BONDS 590,000.00
002-1172 UTILITY FUND OPERATING 237,586.36 953,891.04 319,608.11
002-1174 WATER IMPACT FEE 200,579.90 633,474.24
002-1178 CUSTOMER DEPOSITS 241.48831 45.747.49
003-1173 SERVICE AREA I - IMP FEES 37,987.89 187,757.68 5,560.00
003-1180 BEDFORD BRIDGE ESCROW
003-1182 PLEASANT RUN LAUREL OAKS
003-1188 TOWN CENTERlHWY28
003-1192 MCDONWELL WOODS EST ESCROW
003-1200 LONG WOOD-PARKING ESCROW
003-1203 SERVICE AREA II - IMP FEES
003-1204 BEDFORD LAKES/SOMERSET
003-1209 PECAN PARK II DRAINAGE ESCROW
003-1212 GLADE RDIPLEAS RUN CHURCH ESCROW
003-1216 BOGARTIHIDDEN OAKS/SANDLIN
003-1217 CHURCH STREET CULVERT ESCROW
003-1228 PLEASANT RUN HARDAGE ESTATES/ESC
003-1229 GLADE RD SUMMERBROOK
003-1231 LAKEWOOD ESCROW
003-1236 E. GLADE CRANBROOK ESCROW
003-1237 E. GLADE ASHMORE I ESCROW
003-1239 GLADE POINTS LANDSCAPE ESCROW
003-1247 GLADEIWAYSIDE ESCROW
003-1250 REA TT A PLACE
003-1257 ASHMORE II A GLADE RD ESCROW
003-1288 MILL CREEK! GLADE ESCROW
003-1271 ASHMORE III/ GLADE ESCROW 58,628.22
003-1278 GLADE RD/ASHMORE liB ESCROW
003-1301 LAKEWOOD PH IV 71,289.05
003-1303 OAKBROOK HILLS 56,148.28
003-1304 VILLAS DEL MAR
003-1307 SPRING GARDEN 86,319.83
003-1313 APPLEBEE'S
003-1319 REMINGTON PARK 150,246.27
003-1323 SHALlMAR
003-1325 PECAN GARDENS
003-1330 REMINGTON PARK
003-1357 CITGO/LD LOCKETT
003-1380 REMINGTON PARK PH III
003-1392 CLAIRMONT-PHI
003-1404 TANGLEWOOD
003-1418 CLAIRMONT-PH II 135,212.23
003-1421 OLD GROVE TRAIL
004-1172 DEBT SERVICE FUND 306,358.22
005-1172 VOLUNTARY PARK FUND 71,137.50
011-1172 LIBRARY DONATIONS FUND 28,101.18 102,793.37
012-1172 PARK LAND DEDICATION FUND 218,000.00 173,764.51
017-1136 95 BONDS-DRAINAGE
017-1172 DRAINAGE FUND OPERATING 128,29221
024-1172 CEDC OPERATING
026-1172 TIF OPERATING
PER GENERAL LEDGER $850,000.00 $1,137,506.25 $1,650,000.00 $1,045,734.38 $1,464,962.55 $1,262,237.76
PURCHASE PRICE $850,000.00 $1,137,506.25 $1,650,000.00 $1,045,734.38 $1,464,962.55 $1,262,237.76
VALUE AT MATURITY $850,000.00 $1,140,000.00 $1,650,000.00 $1,050,000.00 $1.450,000.00 $1,260,000.00
INTEREST RECEIVED AT MATURITY $22,950.00 $53,793.75 $40,218.75 $28,287.03 $34,216.62 $26,112.24
----_.._".~.._-
OUTSTANDING INVESTMENTS AT 3-31-05
INVESTMENT TREASURY FNMA FHLB TREASURY TREASURY FNMA
NOTE NOTE BOND NOTE NOTE NOTE
DATE ACQUIRED 02-Aug-04 06-Aug.04 13-Aug-04 31-Aug-04 31-Aug-04 15-Sep-04
MATURITY DATE 31-0ct-05 28-Jul-06 05-May.06 28-Feb-06 30-Apr-06 27 -May-05
26 WEEK T-BILL AUCTION DISCOUNTIWEEK OF PURCHASE 1.735% 1.735% 1.665% 1.750% 1.750% 1.860%
YIELD TO MATURITY 2.187% 2.885% 2.560% 2.136% 2.249% 2.050%
ACCOUNT ALLOCATION OF INVESTMENT
001-1172 GENERAL FUND OPERATING 179,180.17 1,100,000.00 75,053.57 734,572.67
002-1166 UTILITY DEBT SERVICE RESERVE 35,387.52 14,289.83
002-1169 98 REVENUE BONDS
002-1172 UTILITY FUND OPERATING 606,739.21 170,060.96 675,841.00 39,158.00 174,481.10
002-1174 WATER IMPACT FEE 236,425.89 392,707.15 285,000.00
002-1178 CUSTOMER DEPOSITS 17,328.39
003-1173 SERVICE AREA I - IMP FEES 537,231.89 183,119.00
003-1180 BEDFORD BRIDGE ESCROW
003-1182 PLEASANT RUN LAUREL OAKS
003-1188 TOWN CENTERlHWY26 32,136.00
003-1192 MCDONWELL WOODS EST ESCROW
003-1200 LONGWOOD-PARKING ESCROW
003-1203 SERVICE AREA II - IMP FEES 135,212.23
003-1204 BEDFORD LAKES/SOMERSET
003-1209 PECAN PARK II DRAINAGE ESCROW
003-1212 GLADE RD/PLEAS RUN CHURCH ESCROW
003-1216 BOGART/HIDDEN OAKS/SANDLIN
003-1217 CHURCH STREET CULVERT ESCROW
003-1228 PLEASANT RUN HARDAGE ESTATES/ESC
003-1229 GLADE RD SUMMERBROOK
003-1231 LAKEWOOD ESCROW
003-1236 E. GLADE CRANBROOK ESCROW
003-1237 E. GLADE ASHMORE I ESCROW
003-1239 GLADE POINTS LANDSCAPE ESCROW
003-1247 GLADEIWAYSIDE ESCROW
003-1250 REA TT A PLACE 87,104.04
003-1257 ASHMORE ILA GLADE RD ESCROW
003-1268 MILL CREEK! GLADE ESCROW
003-1271 ASHMORE III/ GLADE ESCROW
003-1278 GLADE RD/ASHMORE liB ESCROW
003-1301 LAKEWOOD PH IV
003-1303 OAKBROOK HILLS
003-1304 VILLAS DEL MAR 53,365.53
003-1307 SPRING GARDEN
003-1313 APPLEBEE'S 41,128.24
003-1319 REMINGTON PARK
003-1323 SHAll MAR 65,365.81
003-1325 PECAN GARDENS
003-1330 REMINGTON PARK
003-1357 CITGOILD LOCKETT 52,363.27
003-1360 REMINGTON PARK PH III 72,604.30
003-1392 CLAIRMONT-PHI 102,697 76
003-1404 T ANGLEWOOD 24,067.77
003-1418 CLAIRMONT -PH II
003-1421 OLD GROVE TRAIL 64,584.00
004-1172 DEBT SERVICE FUND
005-1172 VOLUNTARY PARK FUND 61,130.01
011-1172 LIBRARY DONATIONS FUND
012-1172 PARK LAND DEDICATION FUND 16,049.40 81,651.11
017-1136 95 BONDS-DRAINAGE
017-1172 DRAINAGE FUND OPERATING 30,000.00
024-1172 CEDC OPERATING
026-1172 TIF OPERATING 199,196.43
PER GENERAL LEDGER $1,241,406.25 $1,100,000.00 $1,100,000.00 $1,163,210.00 $1,172,000.00 $798,616.00
PURCHASE PRICE $1,241,406.25 $1,100,687.50 $1,108,102.60 $1,163,210.00 $1,172,000.00 $798,616.00
VALUE AT MATURITY $1,250,000.00 $1,100,000.00 $1,100,000.00 $1,172,000.00 $1,172,000.00 $800,000.00
INTEREST RECEIVED AT MATURITY $39,062.50 $32,548.89 $60,058.35 $37,357.50 $43,950.00 $11,367.67
'---'--
OUTSTANDING INVESTMENTS AT 3-31-05
INVESTMENT FHLB TREASURY TREASURY FHLB FHLB TREASURY
NOTE NOTE NOTE BOND NOTE NOTE
DATE ACQUIRED 15-Apr.04 30~Apr-04 20-May-04 14-Jun-04 15-Jun-04 30-Jun-04
MATURITY DATE 15-Nov-Q5 30-Apr-05 3D-Apr-OS 15-Apr-05 15-Sep-05 31-Dec-OS
26 WEEK T-BILL AUCTION DISCOUNTIWEEK OF PURCHASE 1.025% 1.175% 1.175% 1.335% 1.505% 1.675%
YIELD TO MATURITY 1.950% 1.560% 1.700% 2.003% 2.400% 2.543%
ACCOUNT ALLOCATION OF INVESTMENT
001-1172 GENERAL FUND OPERATING 525,093,67 600,696.29
002-1166 UTILITY DEBT SERVICE RESERVE 137,114,21 334,871.15
002-1169 98 REVENUE BONDS
002-1172 UTILITY FUND OPERATING 855,35056 357,819.35 274,05408 637,828.82 394,617.23
002-1174 WATER IMPACT FEE 28,843.88
002-1178 CUSTOMER DEPOSITS
003-1173 SERVICE AREA I - IMP FEES 44,86036 267,187.33 58,451.88
003-1180 BEDFORD BRIDGE ESCROW 31,435,84
003-1182 PLEASANT RUN LAUREL OAKS 52,857,30
003-1188 TOWN CENTERlHWY26
003-1192 MCDONWELL WOODS EST ESCROW 9,123.76
003-1200 LONGWOOD-PARKING ESCROW 12,138.18
003-1203 SERVICE AREA II - IMP FEES 103,846.84
003-1204 BEDFORD LAKES/SOMERSET 206,818.99
003-1209 PECAN PARK II DRAINAGE ESCROW 3,263,94
003-1212 GLADE RD/PLEAS RUN CHURCH ESCROW 29,470.41
003-1216 BOGART/HIDDEN OAKS/SANDLIN 245,743.22
003-1217 CHURCH STREET CULVERT ESCROW 7,856.91
003-1228 PLEASANT RUN HARDAGE EST A TES/ESC 40,935.60
003-1229 GLADE RD SUMMERBROOK
003-1231 LAKEWOOD ESCROW 23,109.88
003-1236 E, GLADE CRANBROOK ESCROW 106,861.27
003-1237 E. GLADE ASHMORE I ESCROW 47,660.01
003-1239 GLADE POINTS LANDSCAPE ESCROW
003-1247 GLADElWA YSIDE ESCROW 38,482.88
003-1250 REATTA PLACE
003-1257 ASHMORE II A GLADE RD ESCROW 25.489.55
003-1268 MILL CREEK! GLADE ESCROW 27,731,18
003-1271 ASHMORE 1111 GLADE ESCROW
003-1278 GLADE RD/ASHMORE liB ESCROW 32,649.95
003-1301 LAKEWOOD PH IV
003-1303 OAKBROOK HILLS
003-1304 VILLAS DEL MAR
003-1307 SPRING GARDEN
003-1313 APPLEBEE'S
003-1319 REMINGTON PARK
003-1323 SHALlMAR
003-1325 PECAN GARDENS 27,659.41
003-1330 REMINGTON PARK 69,230.22
003-1357 CITGO/LD LOCKETT
003-1360 REMINGTON PARK PH 11\
003-1392 CLAIRMONT-PHI
003-1404 TANGLEWOOD
003-1418 CLAIRMONT-PH II
003-1421 OLD GROVE TRAIL
004-1172 DEBT SERVICE FUND 214,666,21
005-1172 VOLUNTARY PARK FUND 17,028,28
011-1172 LIBRARY DONATIONS FUND 10,540.45 39,035.47
012-1172 PARK LAND DEDICATION FUND 210,808.68 3,622.49 741,406.25 45,95997
017-1136 95 BONDS-DRAINAGE 223.425.04
017-1172 DRAINAGE FUND OPERATING 154,142.49 3,770.30 39,417.03
024.1172 CEDC OPERATING
026-1172 TIF OPERATING
PER GENERAL LEDGER $1,253,383.75 $1,300,834.60 $1,099,225,60 $1,295,937,49 $1,314,435,01 $1,099,160.16
PURCHASE PRICE $1,253,383,75 $1,300,834,50 $1,099,225.60 $1,295,937.49 $1,314,435.01 $1,099,160.16
VALUE AT MATURITY 1,250,000,00 $1,300,000,00 $1,100,000,00 $1,300,000,00 $1,330,000,00 $1,110,000.00
INTEREST RECEIVED AT MATURITY $34,531,76 $20,280,62 $17,147,72 $21,695,70 $39,913,30 $42,335.37
--_._._----,~..-
OUTSTANDING INVESTMENTS AT 3-31-05
INVESTMENT TREASURY FNMA FNMA FHLB TREASURY
NOTE NOTE NOTE NOTE NOTE
DATE ACQUIRED 21-Sep-04 09-Nov-04 10.Nov-04 30-Nov-04 31-Mar-05
MATURITY DATE 31-Dec-OS 15-Dec-OS 15-Felr06 30-Aug-06 31-Mar-06
26 WEEK T-BILL AUCTION DISCOUNTIWEEK OF PURCHASE 1.840% 2.155% 2.155% 2.365% 3.090%
YIELD TO MATURITY 2.249% 2.664% 2.725% 3.092% 3.456%
ACCOUNT ALLOCATION OF INVESTMENT
001-1172 GENERAL FUND OPERATING 71,460.52 150,000.00 980.937.50
002-1166 UTILITY DEBT SERVICE RESERVE
002-1169 96 REVENUE BONDS
002-1172 UTILITY FUND OPERATING 359,256.31 36,465.31 250,000.00
002-1174 WATER IMPACT FEE
002-1178 CUSTOMER DEPOSITS 46,340.81
003-1173 SERVICE AREA I - IMP FEES 151,985.48
003-1180 BEDFORD BRIDGE ESCROW
003-1182 PLEASANT RUN LAUREL OAKS
003-1188 TOWN CENTER/HWY26
003-1192 MCDONWELL WOODS EST ESCROW
003-1200 LONGWOOD-PARKING ESCROW
003-1203 SERVICE AREA 11 - IMP FEES
003-1204 BEDFORD LAKES/SOMERSET
003-1209 PECAN PARK 11 DRAINAGE ESCROW
003-1212 GLADE RD/PLEAS RUN CHURCH ESCROW
003-1216 BOGARTIHIDDEN OAKS/SANDLIN
003-1217 CHURCH STREET CULVERT ESCROW
003-1228 PLEASANT RUN HARDAGE EST A TES/ESC
003-1229 GLADE RD SUMMERBROOK 52,444.91
003-1231 LAKEWOOD ESCROW
003-1236 E. GLADE CRANBROOK ESCROW
003-1237 E. GLADE ASHMORE I ESCROW
003-1239 GLADE POINTS LANDSCAPE ESCROW 4,166.35
003-1247 GLADElWAYSIDE ESCROW
003-1250 REA TT A PLACE
003-1257 ASHMORE 11 A GLADE RD ESCROW
003-1268 MILL CREEK! GLADE ESCROW
003-1271 ASHMORE III/ GLADE ESCROW
003-1278 GLADE RD/ASHMORE liB ESCROW
003-1301 LAKE WOOD PH IV
003-1303 OAKBROOK HILLS
003-1304 VILLAS DEL MAR
003-1307 SPRING GARDEN
003-1313 APPLEBEE'S
003-1319 REMINGTON PARK
003-1323 SHAll MAR
003-1325 PECAN GARDENS
003-1330 REMINGTON PARK
003-1357 CITGOILD LOCKETT
003-1360 REMINGTON PARK PH 111
003-1392 CLAIRMONT-PHI
003-1404 TANGLEWOOD
003-1418 CLAIRMONT-PH 11
003-1421 OLD GROVE TRAIL
004-1172 DEBT SERVICE FUND
005-1172 VOLUNTARY PARK FUND 282,131.32 142,268.76
011-1172 LIBRARY DONATIONS FUND 25,977.71 103.006.13
012-1172 PARK LAND DEDICATION FUND 55,389.57 328,204.81
017-1136 95 BONDS-DRAINAGE
017-1172 DRAINAGE FUND OPERATING 65,429.51 100,000.00
024-1172 CEDe OPERA TlNG 498,671.88
026-1172 TIF OPERATING
PER GENERAL LEDGER $496,671.88 $897,187.50 $827,360.00 $500,000.00 $980,937.50
PURCHASE PRICE $498,671.88 $897,187.50 $827,360.00 $500,000.00 $980,937.50
VALUE AT MATURITY $500,000.00 $900,000.00 $800,000.00 $500,000.00 $1,000,000.00
INTEREST RECEIVED AT MATURITY $18,750.00 $26,325.00 $11,611.11 $27,037.50 $34,062.50
___._._..__.__.'""n._'_'_'___ ~--"---'-"- "-
LOGIC INVESTMENT POOL ALLOCATION
AND GENERAL INFORMATION
LOCAL GOVERNMENT INVESTMENT
COOPERATIVE / "LOGIC"
ACCOUNT ALLOCATION AT MARCH 31,2005
ACCT # DESCRIPTION BALANCE
GENERAL FUND
1,1115 GENERAL OPERATING $919,424,94
UTILITY FUND
2.1115 UTILITY OPNS $2,164,466,77
2,1116 IMPACT FEES WATER $1,105,742.88
2,1130 UTILITY INTEREST & SINKING FUND $967,208,14
2,1177 94 BONDS $39,280.90
2.1294 IMPACT FEES SEWER $166,020.87
CAPITAL PROJECTS FUND
3.1113 IMPACT FEES/SA I $87,655,39
3.1396 2002 CERTIFICATES OF OBLIGATION $94,615.97
DEBT SERVICE FUND
4.1115 DEBT SERVICE OPERATING $499,073.30
TIF FUND
17.1115 DRAINAGE OPERATING $253,080.59
17.1159 DRAINAGE INT & SINKING FUND $118,010.21
17,1380 2001 DRAINAGE BONDS $450,154,08
TIF FUND
26.1115 TIF OPERATING $1,316,019.06
26.1119 2000 TIF BONDS $914.19
26.1383 2001 TIF BONDS $1,058,123.08
CCCPD FUND
27.1115 CCCPD OPERATING $124,515.65
27,1147 99 POLICE/COURT BLDG FUND $129,327.69
TOTAL LOGIC POOL BALANCE
$9,493,633.71
LOGIC Local Government Investment Cooperative
Monthly Newsletter - March 2005
Allocation Daily Daily LOGIC Net Asset
Date Factor Rate Interest Balance WAM Value
3/1/2005 0,000070666 2,5793% 79,916.93 1,130,905,640,78 89,34 0.9998
3/2/2005 0,000070625 2,5778% 80,716,13 1,142,886,052,56 87,77 0,9998
3/3/2005 0,000070736 2,5819% 80,193,02 1,133,688,570,93 87.47 0,9998
3/4/2005 0,000070786 2,5837% 79,925,74 1,129,125,148.75 85.37 0,9997
3/5/2005 0.000070786 2,5837% 79,925,74 1,129,125,148,75 85,37 0,9997
3/6/2005 0,000070786 2,5837% 79,925,74 1,129,125,148,75 85,37 0,9997
3/7/2005 0,000070321 2,5667% 79,585,56 1,131,745,785,29 84,97 0,9998
3/8/2005 0,000070400 2,5696% 79,987,88 1,136,186,673,04 84,51 0,9998
3/9/2005 0,000070425 2,5705% 80,261,05 1,139,659,597.44 83.47 0,9998
3/10/2005 0,000070832 2,5854% 80,564,03 1,137,401,197,13 84,50 0,9998
3/11/2005 0,000070877 2,5870% 78,193,62 1,103,223,577 ,64 83.75 0,9997
3/12/2005 0,000070877 2,5870% 78,193,62 1,103,223,577.64 83,75 0,9997
3/13/2005 0,000070877 2,5870% 78,193,62 1,103,223,577 ,64 83,75 0,9997
3/14/2005 0,000070939 2,5893% 79,939,64 1,126,886,383,73 81,55 0,9998
3/15/2005 0,000071291 2,6021% 79,021,27 1,108,428,487.30 82,31 0,9998
3/16/2005 0,000072395 2.6424% 78,956.29 1,090,627,524.04 83,59 0,9998
3/17/2005 0,000072392 2,6423% 79,338,24 1,095,959,876,88 82,20 0.9998
3/18/2005 0,000072521 2,6470% 81,419,60 1,122,707,914,37 78,24 0,9997
3/19/2005 0,000072521 2,6470% 81,419,60 1,122,707,914,37 78,24 0,9997
3/20/2005 0,000072521 2.6470% 81,419,60 1,122,707,914.37 78.24 0,9997
3/21/2005 0,000072886 2,6603% 82,462.81 1,131,397,907,89 80,04 0,9998
3/22/2005 0.000074436 2,7169% 84,518,30 1,135,447,083,33 93,33 0,9997
3/23/2005 0,000075096 2,7410% 85,977,15 1,144,888,961,94 94,68 0.9997
3/24/2005 0,000075414 2,7526% 85,178,01 1,129,464,722.18 93.52 0,9996
3/25/2005 0,000075414 2,7526% 85,178.01 1,129,464,722.18 93,52 0,9996
3/26/2005 0.000075414 2,7526% 85,178,01 1,129,464,722,18 93,52 0,9996
3/27/2005 0,000075414 2,7526% 85,178,01 1,129,464,722,18 93,52 0,9996
3/28/2005 0,000075156 2,7432% 85,256,64 1,134,390,616,17 92,14 0,9997
3/29/2005 0,000075549 2.7576% 84,942,31 1,124,327,559.26 91,99 0,9997
3/30/2005 0,000075746 2,7647% 84,490,08 1,115,443,607,90 93,74 0,9997
3/31/2005 0,000076449 2,7904% 83,657.49 1,094,291,755,01 96,75 0,9997
Totals 0.000072598 2.6498% 2,529,113.75 1,123,793,293.28 86.79 0.9997
f
c
4/01/2005
M t O. t I 0
Port olio omposltlon - a. IS. n ays
Security Type Number Percentaae Book Value Market Value 1 Day 0,00%
AQeney See, 25 48,20% 530,972,686 530,810,241 2 to 7 8.45%
Comm, Paoer 44 49,25% 542,559,861 542,337,646 8 to 30 14,12%
MM Funds 1 0,00% 32,819 32,819 31 to 90 40.08%
Repos 1 0,30% 3,338,000 3,338,000 91 to 180 22,60%
T-Bills 1 2,25% 24,757,901 24,731,500 180 to 365 14,76%
Totals 72 100.0% 1,101,661,267 1,101,250,206 365+ 0,00%
1201 Elm Street, Suite 3500 Dallas, Texas 75270 (800) 895-6442 - (214) 859-6775 Fax - www.lOl!ic.orl!
LOGIC Local Government Investment Cooperative
LOGIC Board of Directors
Philio G, Roberson President IArlington I.S,D,
Fred L. Werner Vice President. City of Graoevine
Judd R. Sanderson Treasurer I Investment Officer North Texas Municioal Water District
DeeAnn LeVar Cheatham Secretary Evare LLC
Robb Dean Asst. Secretary Dallas Co, Communitv Colleae District
Kandv Daniel Board Member City of Beaumont
Don A. Buchholz Advisorv Director SWS Grouo, Inc.
LOGIC Information
$1,00 Net Asset Value Tolerance Ranae $,9965 to $1,0035
LOGIC Fee Variable Basis Points based on overall 0001 balance
General ManaQer SWS Caoital Corooration
Portfolio Manaaer Citibank, N,A, throuah Citiarouo Asset Management
Indeoendent Auditor KPMG LLP
Aaa/MR1+ Ratina Moodv's Investors Service
Custodial Bank JPMorQan Bank
LOGIC Clients
Type Count
City 109
County 37
Higher Ed. 10
Other 23
School 147
Utility 45
Total 371
lD LOGIC Daily Rates For March 2005
2.8500%
2.8000%
2.7500%-~---~
2.7000% -
2.6500% -~----~~
2.6000%
2.5500% ----~-
2.5000%-~-~-----~-~
2.4500%
3/1/05
3/5/05
3/9/05
Contact Information
Contact Number
Patrick Shinkle (214) 859-6784
Buddy Tarpley (214) 859-6778
Veter Johnson (214) 859-6780
Fax (214) 859-6775
A VT System (800) 895-6442
Web Address www,loaic,ora
_..------_..._._~-----_._----_.~-~--_._..."._----_...---"
_._-_.._---,----_..__.~~.----_......_-_...._--------
3/13/05
3/17/05
3/21/05
3/25/05
3/29/05
1201 Elm Street, Suite 3500 Dallas, Texas 75270 (800) 895-6442 - (214) 859-6775 Fax - www.lol!ic.orl!
PRE COUNCIL
ca0", AGENDA BRIEFING
fC':'o::'\S
MEETING DATE:
ITEM#:
05/03/05
PC-5
CITY MANAGER I
DEPARTMENT HEAD !
FINANCE REVIEW! N/A
Previous Action: None
DEPARTMENT: CITY COUNCIL
SUBJECT: Discussion of the May 3, 2005, City Council regular
agenda items
This item provides the opportunity for the City Council to discuss the regular City Council
agenda items.
CITY COUNCIL
~'" AGENDA BRIEFING
'j(,'X~3
MEETING DATE:
ITEM#:
RESOLUTION #:
05/03/05
1
N/A
CITY MANAGER '
DEPARTMENT HEAD i
FINANCE REVIEW :
N/A
Previous Action: None
DEPARTMENT: CITY COUNCIL
SUBJECT: Executive Session - I n accordance with Texas
Government Code Chapter 551, Subchapter D
EXECUTIVE SESSION - In accordance with Texas Government Code Chapter 551,
Subchapter D
Sec. 551.071 -
Sec. 551.071 -
Sec. 551.071 -
Sec. 551.072 -
Sec. 551.072 -
Sec. 551.072-
Sec. 551.074 -
Sec. 551.087 -
Consultation with Attorney on Legal Issues Raised by Public
Hearing or Action Items on the Agenda
Brian K. Meroney vs. City of Colleyville
Legal - Potential Litigation - Pecan Village Partners
Property Acquisition
Proposed Sale of Property - 5500 Colleyville Boulevard
Proposed Sale of Property - 5100 Colleyville Boulevard
Personnel - Deliberate the assignment, duties, performance and
evaluation of the City Manager
Economic Development Conference with City Manager and staff to
discuss and deliberate commercial and financial information
received from business prospect{s) the City seeks to have locate,
stay, or expand within the City; with which business(es) the City is
pursuing and conducting economic development negotiations
CITY COUNCIL
ca@~'" AGENDA BRIEFING
11::0.:,,$
MEETING DATE:
ITEM#:
RESOLUTION #:
05/03/05
2
N/A
CITY MANAGER :
DEPARTMENT HEAD i
FINANCE REVIEW :
N/A
Previous Action: None
DEPARTMENT: CITY COUNCIL
SUBJECT: CORRESPONDENCE, MISCELLANEOUS
REPORTS OF MEETINGS ATTENDED BY THE
COUNCIL AND CITY OFFICIALS AND
ANNOUNCEMENTS, PROCLAMATIONS OR
PRESENT A TIONS
PROCLAMATION - In recognition of Covenant Christian Academy (CCA) Fine Arts
Department 2005 TAPPS 2A State Art Championship - Mr. Ted
Rose, CCA Director of Fine Arts
PROCLAMATION - In recognition of Motorcycle Safety and Awareness Month - Chris
Fisher, Texas Motorcycle Roadriders Association
PLAQUES - In recognition of service on the Celebrate Colleyville Steering
Committee - Dezann Korbuly, Linda Newton and Marcus Miller
PRESENTATION - In recognition for receiving the Government Finance Officers
Association Distinguished Budget Presentation Award for the
Fiscal Year Beginning October 1, 2004 - Terry Leake, Finance
Director and Finance Department staff
PROCLAMATION - In recognition of National Memorial Police Week, May 15-21, 2005
- Police Chief Tommy Ingram and Officer Bill Hudgins
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Presented To
DEZA;\N KOR8ULY
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111 Appreciation for
Dedication and Service
on the
Ce/ebrtlte Colle,.vville Steering COlnmittee
2003 - 2005
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Presented To
LINDA NEWTON
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In Appreciation for
Dedication and Service
on the
Celebrate Colleyville Steering COlnlllittee
2003 - 2005
1<.:us
Presented To
MARCUS MILLER
;". (~:~:.-::-:::-,~(:-'~:: -. -'~-':)
/11 Appreciation fol'
Dedication and Service
on the
Celebrate Colleyville Steering Committee
2003 - 2005
'I'M
GOVERNMENT FINANCE OFFICERS ASSOCIATION
Distinguished
Budget Presentation
Award
PRESENTED TO
City of Colleyville
Texas
President
Executive Director
For the Fiscal Year Beginning
October 1, 2004
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RESOLUTION R-05-2539
A RESOLUTION APPROVING COUNCIL ACTION
UNDER CONSENT ITEMS AT THE REGULAR
COUNCIL MEETING MAY 3, 2005
WHEREAS, Council has taken action on certain items on the agenda under Consent
Items.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
COLLEYVILLE, TEXAS:
Sec. 1.
THAT the agenda decisions approved by Council action under Consent
Items as follows are hereby adopted:
a.
Approval of Minutes of the regular City Council meeting of April 19, 2005
b.
Approval of broker/dealer firms for investment purchases
AND IT IS SO RESOLVED.
APPROVED ON THIS THE
VOTE OF AYES,
DAY OF
NAYS AND
2005, BY A
ABSTENTIONS.
ATTEST:
CITY OF COLLEYVILLE
Cynthia Singleton, TRMC
City Secretary
Joe Hocutt
Mayor
MINUTES OF THE
CITY COUNCIL MEETING
APRIL 19, 2005
The Pre Council meeting of the Colleyville City Council was called to order by Mayor
Hocutt on April 19, 2005, at 5:17 p.m.
ROLL CALL:
Councilpersons Elaine Dolan, Mark Skinner, Rich Hendler, Tom
Hart and Mayor Pro Tem Jon Ayers were present. Mayor Joe
Hocutt, City Manager Bill Lindley, Assistant City Manager Paul
Frederiksen, Police Chief Tommy Ingram, Fire Chief Mike
Johnston, Finance Director Terry Leake, Community Development
Manager Barry LeBaron, Public Works Director Keith Fisher,
Economic Development Manager Scott Welmaker, Parks and
Recreation Director Monica Walsh, Financial Analyst Kacey Bess,
City Attorney Matthew Boyle and City Secretary Cynthia Singleton
were also present.
PC-1. Discussion of the 2005 Bond Election
City Manager Bill Lindley provided an update regarding the engineering design and
funding options for the installation of a French drain system in the Tara Subdivision.
PC-2. Discussion of City Purchasing Policy
Finance Director Terry Leake provided an overview of the City's Purchasing Policy and
answered questions of the Council.
Discussion ensued regarding the criteria and process for the selection of a firm for
professional services.
Council requested that the following statement be added to all areas of purchasing in
the Purchasing Policy: "When possible, a Colleyville vendor should be contacted for bid
quotations".
CITY COUNCIL MINUTES
APRIL 19,2005
PC-3. Discussion of parking arrangements for City Park
Mr. Ed Hardesty, 5003 Shadowood, spoke regarding the parking and traffic flow at City
Park and the impact to the Shadowood Subdivision.
Parks and Recreation Director Monica Walsh presented an overview of the possible
rearrangement of facilities and recommendations by GSBS Batenhorst to address
concerns related to the traffic flow and parking in the Shadowood Subdivision.
There was general discussion regarding options for parking at City Park, which would
minimize the impact to the Shadowood Subdivision.
Council requested that staff provide design options and cost estimates for the
rearrangement of parking at City Park to the Parks and Recreation Advisory Board, and
subsequently, the Board will present a recommendation to Council for consideration.
PC-4 Discussion of Election Information Program
The meeting was adjourned prior to this item being discussed.
PC-5. Discussion of the McPherson Park Trail Design
City Manager Bill Lindley provided information related to the McPherson Park trail
design, cost estimates and bidding schedule.
Councilman Hendler requested that staff schedule a work day for the removal of surplus
materials at McPherson Park.
PC-5. Discussion and nomination of a Councilmember to submit an application for
consideration to serve on the North Central Texas Council of Governments'
(NCTCOG) 2005-2006 Executive Board
Council requested that staff contact the City of North Richland Hills regarding the
nomination of Mayor Oscar Trevino to the North Central Texas Council of Governments
(NCTCOG) 2005-2006 Executive Board.
PC-7. Presentation of the Monthly Financial Report
The meeting was adjourned prior to this item being discussed.
2
CITY COUNCIL MINUTES
APRIL 19,2005
PC-B. Update of the Economic Development Initiatives
The meeting was adjourned prior to this item being discussed.
PC-g. Discussion of the April 19, 2005, City Council regular agenda items
The meeting was adjourned prior to this item being discussed.
There being no further business, Mayor Hocutt declared the meeting adjourned at 6:40
p.m.
The regular meeting of the Colleyville City Council was called to order by Mayor Hocutt
on April 19, 2005, at 6:47 p.m.
ROLL CALL:
Councilpersons Mark Skinner, Elaine Dolan, Rich Hendler, Tom
Hart and Mayor Pro Tem Ayers were present. Mayor Joe Hocutt,
City Manager Bill Lindley, Assistant City Manager Paul Frederiksen,
Police Chief Tommy Ingram, Fire Chief Mike Johnston, Community
Development Manager Barry LeBaron, Community Development
Coordinator Chris Fuller, Public Works Director Keith Fisher,
Economic Development Manager Scott Welmaker, Parks and
Recreation Director Monica Walsh, Financial Analyst Kacey Bess,
City Attorney Matthew Boyle and City Secretary Cynthia Singleton
were also present.
1. EXECUTIVE SESSION - In accordance with Texas Government Code Chapter
551, Subchapter D
Sec. 551.071 -
Sec. 551.071 -
Sec. 551.071 -
Sec. 551.071 -
Sec. 551.072 -
Sec. 551.072 -
Sec. 551.074 -
Consultation with Attorney on Legal Issues Raised by Public
Hearing or Action Items on the Agenda
Rachel Beveridge, Plaintiff vs. City of Colleyville, Defendant
Brian K. Meroney vs. City of Colleyville
Legal - Potential Litigation - Pecan Village Partners
Property Acquisition
Proposed Sale of Property - 5500 Colleyville Boulevard
Personnel - Deliberate the assignment, duties, performance
and evaluation of the City Manager
3
CITY COUNCIL MINUTES APRIL 19,2005
Sec. 551.087 - Economic Development Conference with City Manager and
staff to discuss and deliberate commercial and financial
information received from business prospect(s) the City
seeks to have locate, stay, or expand within the City; with
which business(es) the City is pursuing and conducting
economic development negotiations
Mayor Hocutt explained that the Executive Session had been called in accordance with
the Texas Government Code Chapter 551, Subchapter D, Section 551.072, Property
and Section 551.074, Personnel. He further explained that there would be no decisions
made or action taken during this time. The meeting was recessed at 6:48 p.m. and
reconvened at 7:42 p.m.
The invocation was given by Councilman Mark Skinner and City Attorney Matthew
Boyle led the Pledge of Allegiance.
2. CORRESPONDENCE, MISCELLANEOUS REPORTS OF MEETINGS
ATTENDED BY THE COUNCIL AND CITY OFFICIALS AND
ANNOUNCEMENTS, PROCLAMATIONS OR PRESENTATIONS
Mayor Hocutt presented a Proclamation to Chantz Cottrell for increasing awareness of
and promoting organ donation.
Mayor Hocutt presented Proclamations to Eagle Scouts Warnie Meisetschleager III and
Kory Meisetschleager.
Mayor Hocutt presented Proclamations to Eagle Scouts Turner Gauntt IV, James
Holmstrom, Andrew Justin Kussmaul, John William Lee, Dustin Samuel Mann, David
Thomas Newman, Preston Lord Phillips, Michael Todd Robertson and James Kory
Wakefield.
Mayor Hocutt presented a Proclamation to Eagle Scout Andrew Sylvester.
Mayor Hocutt presented a Proclamation to Barbara Boener, Current President and
Becky Meadows, Incoming President of the Colleyville Garden Club, in recognition of
the "2005 Promenade Garden Tour" on May 1,2005.
Ms. Boener invited everyone to attend the Promenade Garden Tour on May 1,2005.
Mayor Hocutt presented a Proclamation to Roger Nelson, Colleyville Proud Chairman,
in recognition of Colleyville Trash Off, Tree City USA and Arbor Day Celebration on
April 30, 2005.
4
CITY COUNCIL MINUTES
APRIL 19,2005
Mr. Nelson invited everyone to participate in the Arbor Day celebration and the City's
spring housecleaning event on April 30, 2005, from 8:30 a.m. to noon at City Park. Mr.
Nelson recognized City volunteers and staff for organizing the event.
Mayor Hocutt announced Early Voting and Election Day locations and times.
CONSENT:
3. READING AND PUBLIC HEARING - Resolution R-05-2534 - Consent Items:
a. Approval of Minutes of the regular City Council meeting of April 5, 2005
b. Approval of an updated Pledge Agreement with the Federal Reserve Bank
of Boston
c. Approval of a Donation of $1,400, to the Colleyville Police Department, for
the purchase of Intermediate and Advanced Firearms Training materials
d. Approval of a Contract with Walsworth Publishing Company/Neal Kimmel
& Associates, for the printing and production of the Colleyville History
Book, in an amount not to exceed $45,000
Mayor Hocutt opened the public hearing and read Resolution R-05-2534 in its entirety.
There was no one present wishing to speak concerning this item and Mayor Hocutt
closed the public hearing.
Councilman Skinner moved to approve Resolution R-05-2534.
Councilman Dolan seconded the motion.
Ayes: Councilpersons Skinner, Dolan, Hendler, Hart and Mayor Pro Tem Ayers
Nays: None
Mayor Hocutt declared the motion carried.
PUBLIC HEARINGS:
4. SECOND READING AND PUBLIC HEARING - Ordinance 0-05-1519 -
Approval of a Zoning Change from AG to R40 on 4 acres located at 512 and 600
Shelton Drive, Case Z-05-01 0
Mayor Hocutt opened the public hearing and read the caption of Ordinance 0-05-1519.
5
CITY COUNCIL MINUTES
APRIL 19,2005
There was no one present wishing to speak concerning this item and Mayor Hocutt
closed the public hearing.
Mayor Pro Tem Ayers moved to approve Ordinance 0-05-1519.
Councilman Hart seconded the motion.
Ayes: Councilpersons Skinner, Dolan, Hendler, Hart and Mayor Pro Tem Ayers
Nays: None
Mayor Hocutt declared the motion carried.
5. SECOND READING AND PUBLIC HEARING - Ordinance 0-05-1520 -
Approval of an Amendment to Chapter 46, Article 2, of the Colleyville Code of
Ordinances regarding the adoption of the 2003 International Fire Code
Mayor Hocutt opened the public hearing and read the caption of Ordinance 0-05-1520.
There was no one present wishing to speak concerning this item and Mayor Hocutt
closed the public hearing.
Mayor Pro Tem Ayers moved to approve Ordinance 0-05-1520.
Councilman Skinner seconded the motion.
Ayes: Councilpersons Skinner, Dolan, Hendler, Hart and Mayor Pro Tem Ayers
Nays: None
Mayor Hocutt declared the motion carried.
6. SECOND READING AND PUBLIC HEARING - Ordinance 0-05-1521 -
Approval of an Amendment to the Master Thoroughfare Plan, Case G-05-006
Mayor Hocutt opened the public hearing and read the caption of Ordinance 0-05-1521.
Ms. Judy Ruggere, 1013 West Lavaca Trail, spoke regarding the cost of the
development of a road over the waterway, in opposition to a north/south thoroughfare
and to the proposed ordinance.
Mr. Marty Stajduhar, 101 Williamsburg Court, spoke regarding the results of a petition,
traffic and in opposition to the proposed ordinance.
6
CITY COUNCIL MINUTES
APRIL 19,2005
Ms. Lisa Stajduhar, 101 Williamsburg Court, spoke in opposition to a north/south
thoroughfare and to the proposed ordinance.
Mr. Kipp Whitman, 3402 Crossgate Circle South, spoke in opposition to the proposed
ordinance and regarding commercial development along Precinct Line.
Mr. Danny Ogle, 1009 West Lavaca Trail, spoke in opposition to the proposed
ordinance.
Mr. Greg Van Nieuwenhuize, 3930 Glade Road, spoke in opposition to the proposed
ordinance and regarding the future development of Precinct Line Road.
Mr. Marty Gohr, 809 West Lavaca Trail, spoke in opposition to the proposed ordinance.
Mr. Jim Moore, 1416 Glade Road, spoke regarding the Master Thoroughfare Plan and
commercial development.
M. Jimmie Archie, 34 Piazza Lane, Colleyville, representing Realty Capital Corporation,
spoke regarding the flood plain along Precinct Line Road, future commercial
development on Precinct Line Road, sales tax revenue and in opposition to the
proposed ordinance.
Ms. Linda Baker, 4900 Behrens Road, spoke in opposition to the proposed ordinance
and regarding the original Master Thoroughfare Plan and traffic flow.
Mr. Steve Martin, 813 Lavaca Trail, spoke regarding the results of the Bond Election
and in opposition to the proposed ordinance.
Mr. Andrew Mittag, 901 West Lavaca Trail, spoke regarding the future development of
Precinct Line Road, the rural quality of life and a petition signed by residents in
opposition to the proposed ordinance.
Mr. Jeff Zimmerman, 501 Lavaca Trail, spoke regarding the commercial development of
Precinct Line Road and in opposition to the proposed ordinance.
Mr. Prince Panchal, 6024 Sterling Drive, spoke in opposition to the proposed ordinance.
There were no others present wishing to speak concerning this item and Mayor Hocutt
closed the public hearing.
Mayor Pro Tem Ayers moved to deny Ordinance 0-05-1521 in its entirety and not make
any changes to the Plan.
Councilman Skinner seconded the motion.
7
CITY COUNCIL MINUTES
APRIL 19,2005
Discussion ensued regarding reasons for deleting the existing roadway from the
thoroughfare plan.
Mayor Pro Tem Ayers made a friendly amendment to delete the existing roadway from
the current Master Plan.
Councilman Skinner accepted the friendly amendment.
The City Attorney concluded that the amended motion was a motion to approve
Ordinance 0-05-1521, with such Ordinance amended to reflect the deletion of the
subject, existing roadway from the thoroughfare plan.
Ayes: Councilpersons Skinner, Dolan, Hart and Mayor Pro Tem Ayers
Nays: Councilman Hendler
Mayor Hocutt declared the motion carried.
7. FIRST READING AND PUBLIC HEARING - Ordinance 0-05-1522 - Approval
of a Zoning Change from AG to R40 on 1.155 acres, out of the S.C.H. Witten
Survey, Abstract 1619, located at 5500 Montclair Drive, Case Z-05-009
Mayor Hocutt opened the public hearing and read the caption of Ordinance 0-05-1522.
There was no one present wishing to speak concerning this item and Mayor Hocutt
closed the public hearing.
8. FIRST READING AND PUBLIC HEARING - Ordinance 0-05-1523 - Approval
of a Zoning Change from AG to R40 and R20 on 24.108 acres, out of the William
Dunn Survey, Abstract 404, located at 6805 Pleasant Run Road, Case Z-05-008
Mayor Hocutt opened the public hearing and read the caption of Ordinance 0-05-1523.
Mr. Earl Morse, 1207 Hardage Lane, spoke in support of the proposed ordinance.
Mr. Bob McCormack, 6802 Pleasant Run Road, spoke in support of the proposed
ordinance and regarding the flow of traffic from the proposed subdivision.
Ms. Becky Meadows, 6901 Pleasant Run Road, also representing her husband Tim,
spoke regarding letters from neighbors, meetings with developer Mr. Fagan, traffic flow
and in support of Stonebridge Parc as a gated community.
8
CITY COUNCIL MINUTES
APRIL 19,2005
Ms. Joan Quinn, 6817 Pleasant Run Road, commended developer Mr. Fagan for
working with the neighbors, in support of Stonebridge Parc as a gated community and
regarding the construction of a rock or stone wall and one acre lots.
Mr. Thomas Quinn, 6817 Pleasant Run Road, spoke in support of the views of the two
previous speakers.
There were no others present wishing to speak concerning this item and Mayor Hocutt
closed the public hearing.
Discussion ensued regarding traffic flow in the area and the process and ability to
require a gate, location and number of gates and a fire and emergency entrance to the
development.
Mr. John Fagan, 1303 Bellefonte Lane, applicant, was present to answer questions of
the Council.
9. FIRST READING AND PUBLIC HEARING - Ordinance 0-05-1524 - Approval
to amend Section 2 of Ordinance 0-04-1493 relating to the Fiscal Year 2004-
2005 Budget, to authorize the expenditure of $975,000 of unappropriated fund
balance of the General Fund for the construction of the Senior Citizen's Center
on the site of the former City Hall Building at 5400 Bransford Road
Mayor Hocutt opened the public hearing and read the caption of Ordinance 0-05-1524.
Mr. Dick Oliver, 3904 Magnolia Court, spoke regarding the condition of the streets in
Tara Plantation and funding for repair of the streets and regarding the expenditure of
funds for a Senior Center.
Ms. Connie Hampton, 5804 Pleasant Run Road, spoke in favor of the proposed
ordinance and presented a petition in support of the construction of a Senior Center.
Discussion ensued regarding funding sources for street repair and the construction of a
Senior Citizen's Center.
There were no others present wishing to speak concerning this item and Mayor Hocutt
closed the public hearing.
Councilman Hendler stated for the record, "I am for a Senior Citizen's Center and for the
appropriate use of the funds we have."
Councilman Hart stated for the record, "I am not anti Senior Citizen's Center and that
there will be a Senior Citizen's Center."
9
CITY COUNCIL MINUTES
APRIL 19,2005
10. READING AND PUBLIC HEARING - Resolution R-05-2535 - Consideration of
reinstating the membership to nine and appointing members to the Celebrate
Colleyville Steering Committee
Mayor Hocutt read Resolution R-05-2535 in its entirety and opened the public hearing.
There was no one present wishing to speak concerning this item and Mayor Hocutt
closed the public hearing.
Mayor Pro Tem Ayers moved to approve Resolution R-05-2535, appointing Michael
Muhm, Ed Baker, Stanley Hall and Richard Myers to the Celebrate Colleyville Steering
Committee.
Councilman Hendler seconded the motion.
Ayes: Councilpersons Skinner, Dolan, Hendler, Hart and Mayor Pro Tem Ayers
Nays: None
Mayor Hocutt declared the motion carried.
11. READING AND PUBLIC HEARING - Resolution R-05-2536 - Approval of the
FY2005 Water Meter Annual Purchase bid award to B20 & Associates, in the
amount of $65,820.78
Mayor Hocutt read Resolution R-05-2536 in its entirety and opened the public hearing.
There was no one present wishing to speak concerning this item and Mayor Hocutt
closed the public hearing.
Councilman Skinner moved to approve Resolution R-05-2536.
Mayor Pro Tem Ayers seconded the motion.
Ayes: Councilpersons Skinner, Dolan, Hendler, Hart and Mayor Pro Tem Ayers
Nays: None
Mayor Hocutt declared the motion carried.
12. READING AND PUBLIC HEARING - Resolution R-05-2537 - Approval to
implement the Public Utilities Commission authorized CPI increase of
telecommunication line access charges
10
CITY COUNCIL MINUTES
APRIL 19,2005
Mayor Hocutt read Resolution R-05-2537 in its entirety and opened the public hearing.
There was no one present wishing to speak concerning this item and Mayor Hocutt
closed the public hearing.
Discussion ensued regarding the amount of revenue increase, if approved.
Councilman Skinner moved to approve Resolution R-05-2537.
Councilman Hart seconded the motion.
Ayes: Councilpersons Skinner, Hendler, Hart and Mayor Pro Tem Ayers
Nays: Councilperson Dolan
Mayor Hocutt declared the motion carried.
REPORTS:
13. TRAFFIC SAFETY ADVISORY COMMITTEE MINUTES - February 21,2005
PARKS AND RECREATION ADVISORY BOARD MINUTES - March 7, 2005
PLANNING AND ZONING COMMISSION MINUTES - March 14,2005
LIBRARY BOARD MINUTES - March 14,2005
There was no action taken on this item.
CITIZEN COMMENTS:
14. CITIZEN COMMENTS/PRESENTATIONS REGARDING ITEMS NOT ON THE
AGENDA
Mr. Jim Moore, 1416 Glade Road, stated that, upon request, he will coordinate
informational meetings regarding the proposed Charter Amendments.
ACTION/RESOLUTION:
15. DISCUSSION AND CONSIDERATION OF A RESOLUTION RATIFYING
COUNCIL AGENDA ACTION FOR THE MEETING OF APRIL 19, 2005 -
Reading and Public Hearing - Resolution R-05-2538
This item was not needed.
ADJOURNMENT:
16. ADJOURNMENT
11
CITY COUNCIL MINUTES
APRIL 19,2005
There being no further business before the City Council, Councilman Hart moved to
adjourn.
Councilman Skinner seconded the motion.
Ayes: Councilpersons Skinner, Dolan, Hendler, Hart and Mayor Pro Tem Ayers
Nays: None
Mayor Hocutt declared the meeting adjourned at 9:38 p.m.
APPROVED THIS
AYES,
DAY OF
NAYS AND
2005, BY A VOTE OF
ABSTENTIONS.
Minutes taken and prepared by:
Cynthia Singleton, TRMC
City Secretary
12
Ci1r Of
~
CITY COUNCIL CC~~il0 AGENDA BRIEFING
Il~X~$
MEETING DATE: I 05/03/05 CITY MANAGER,
ITEM # : 3b DEPARTMENT HEA I
RESOLUTION #:! R-05-2539
Previous Action: None
DEPARTMENT: FINANCE
SUBJECT : Approval of broker/dealer firms for investment
purchases - by Consent
Reading and Public Hearing
The City's Investment Policy provides that the City Council shall annually approve
broker/dealer firms to receive quotes for investment purchases. Staff received replies to our
broker/dealer questionnaires from the following firms: Coastal Securities, Duncan-Williams,
Inc., Merrill Lynch and Southwest Securities. These are firms the City has approved in the
past and is currently using. Attached is a recap of the responses received from the proposed
firms, and based upon this information, it is recommended that the following firms be approved
broker/dealers: Coastal Securities, Duncan-Williams, Inc., Merrill Lynch and Southwest
Securities.
Financial Impact
None
Recommendation
Approval
Attachments
. Recap of Broker/dealer Questionnaire Responses
. City of Colleyville Investment Policy
RECAP OF BROKER/DEALER QUESTIONNAIRE RESPONSES
COASTAL
SECURITIES
PRIMARY DEALER?
NO
HAVE FIRM'S PERSONNEL READ
CITY'S INVESTMENT POLICY?
YES
ANY PUBLIC SECTOR LOSSES OVER 10%
DUE TO MISUNDERSTANDING
OR MISREPRESENTATION?
NO
DOES FIRM COMPLY WITH FEDERAL
RESERVE CAPITAL ADEQUACY
GUIDELINES?
YES
DOES FIRM PARTICIPATE IN SPIC
INSURANCE PROGRAM?
YES
WHAT % OF FIRMS TRANSACTIONS
FAILED LAST YEAR?
UNDER 1 %
FINANCIAL STATEMENTS SUBMITTED?
YES
CURRENT LICENSES SUBMITTED
YES
DUNCAN
WILLIAMS
NO
YES
NO
YES
YES
UNDER 1 %
YES
YES
MERRILL
LYNCH
YES
YES
NO
YES
YES
UNDER 1 %
YES
YES
SOUTHWEST
SECURITIES
NO
YES
NO
YES
YES
UNDER 1 %
YES
YES
CITY OF COLLEYVILLE INVESTMENT POLICY
Policy
It is the policy of the City of Colleyville (the City) to invest public funds in a manner which
will provide the highest investment return with the maximum security while meeting the
daily cash flow demands of the entity and conforming to all State of Texas statutes and
City ordinances.
Scope
This investment policy applies to all financial assets ofthe City. These funds are accounted
for in the City's Comprehensive Annual Financial Report and include:
General Fund
Utility Fund
Debt Service Fund
Capital Projects Fund
Voluntary Park Fund
Sesquicentennial Fund
Special Donation Fund
Park Land Dedication Fund
Crime District Fund
Drainage Utility Fund
Tree Preservation Fund
Library Donation Fund
Community Center Building Fund
Recycling Fund
Police Asset Forfeiture Fund
Voluntary Library Fund
TIF Fund
Kidsville Maintenance Fund
and any new fund created by the City Council, unless specifically exempted by the City
Council.
Objectives
The primary objectives, in priority order, of the City's investment activities shall be:
Safety: Safety of principal is the foremost objective of the City in managing its portfolio.
Investments of the City shall be undertaken in a manner that seeks to ensure the
preservation of capital in the overall portfolio. To attain this objective the City will diversify
its investments by investing funds among a variety of securities offering independent
returns and financial institutions.
Liquidity: The City will also maintain sufficient liquidity to provide adequate and timely
working funds.
Return on Investments: The investment portfolio shall be designed with the objective of
obtaining a rate of return throughout budgetary and economic cycles, commensurate with
the investment risk constraints and cash flow needs. The City investment strategy is
passive and the portfolio shall be designed with the objective of regularly exceeding the
weighted average return on thirteen-week Treasury bills. This is considered a benchmark
for riskless investment transactions, and therefore, is a minimum standard for the portfolio's
rate of return. For bond funds that fall under the arbitrage provisions ofthe Tax Reform Act
of 1986, the City will attempt to earn allowable bond yield with market conditions permitting.
Delegation of Authority
The City designates the Investment Officers to be the City Manager with overall
responsibilities to see that investment objectives are accomplished and the Finance
Director with the specific day-to-day performance of managing the funds of the City.
Ethics and Conflict of Interest
All investment Officers and employees involved in the investment process shall refrain from
personal business activity that could conflict with proper execution of the investment
program, or that could impair their ability to make impartial investment decisions.
Employees shall disclose to the City of Colleyville and Texas Ethics Commission a
statement under the following conditions:
A. If they have a personal business relationship with a business organization offering
to engage in an investment transaction with the entity. Under the Public Funds
Investment Act, a personal business relationship is defined as:
1. The investment officer owns 10 percent or more of the voting stock or shares
of the business organization or owns $5,000 or more of the fair market value
of the business organization:
2. Funds received by the investment officer from the business organization
exceed 10 percent of the investment officer's gross income for the previous
year; or
3. The investment officer has acquired from the business organization during
the previous year, investments with a book value of $2,500 or more for the
personal account of the investment officer.
B. If they are related within the second degree by affinity or consanguinity, as
determined by Chapter 573 V.A.T.C.S. to an individual seeking to sell an investment
to the City of Colleyville.
Prudence
Investments shall be made with judgement and care - under circumstances then prevailing
_ which persons of prudence, discretion, and intelligence exercise in the management of
their own affairs, not for speculation, but for investment, considering the probable safety of
their capital as well as the probable income to be derived.
The standard of prudence to be used by investment officials shall be the "prudent person",
which means the officer may not be an expert but is obligated to act responsibly and shall
be applied in the context of managing an overall portfolio. Investment officers acting in
accordance with written procedures and exercising due diligence shall be relieved of
personal responsibility for an individual security's credit risk or market price changes,
provided deviations from expectations are reported in a timely fashion and appropriate
action is taken to control adverse developments.
Investment officers shall notify the City Council in writing of any conflicts of interest, as
defined by the Public Funds Investment Act, no later than the next regularly scheduled
Council meeting.
It is the policy of the City that the Investment Officers perform their duties in accordance
with the policies and procedures set forth in this policy. The Investment Officers of the City
(City Manager and Finance Director and the Assistant to the Finance Director (acting in the
Finance Director's absence)) shall be personally indemnified in the event of investment
loss provided the Investment Policy is followed.
Internal Controls
The Finance Director shall establish a system of written internal controls which shall be
reviewed annually by the independent auditor. The controls shall be designed to prevent
the loss of public funds due to fraud, error, misrepresentation, unanticipated market
changes or imprudent actions.
Permissible Instruments
The following is a list of permissible instruments as authorized by the 70th Texas
Legislature in the Public Funds Investment Act (TEX. REV. CIV. STAT. ANN. ACT 842A-2)
and amended by the 71 st Legislature:
1. Obligations of the United States or its agencies or instrumentalities;
2. Direct obligations of the State of Texas or its agencies;
3. Other obligations, the principal of and interest on which are unconditionally
guaranteed or insured by the State of Texas or the United States or its agencies or
instrumentalities;
4. Obligations of states, agencies, counties, cities, and other political subdivisions of
any state having been rated as to investment quality by nationally recognized
investment rating firm and having received a rating of not less than "A" or its
equivalent;
5. Certificates of deposit issued by state and national banks and domiciled in the state
that are:
a. Guaranteed or insured by the Federal Deposit Insurance City, FSLlC or its
successors; or
b. Secured by obligations that are described by subdivisions (1) through (4)
of this subsection, which are intended to include all direct federal agency
or instrumentality issued mortgage backed securities, and which have a
market value of not less than the principal amount of the certificates or in
any other manner and amount provided by law for deposits of the
investing entities;
6. Invest in a local government investment pool as authorized by the Interlocal
Cooperation Act (TEX. REV. CIV. STAT. ANN. ACT. 4413 (32c), as amended, and
the Public Funds Investment Act (TEX. REV. CIV. STAT. ACT. 842a-2), as
amended. The investment pool must comply with the requirements of the Public
Funds Investment Act, as amended, as follows:
a. The investment pool maintains a stable asset value as defined in the
Public Funds Investment Act;
b. The investment pool maintains a AAA rating by one of the nationally
recognized rating agencies;
c. The investment pool's maximum average dollar weighted maturity does
not exceed 90 days; and
d. The investment pool's continued compliance with the remaining
provisions of the Public Funds Investment Act.
e. The eligible investments of the pool are as follows: obligations of the
United States or its agencies and instrumentalities, other obligations, the
principal of and interest on which are unconditionally guaranteed or
insured by the United States, fully collateralized repurchase agreements
with a defined termination date secured by obligations of the United
States or its agencies and instrumentalities, other obligations, the
principal of and interest on which are unconditionally guaranteed or
insured by the United States, and SEC registered money market funds
authorized by the Public Funds Investment Act and rated in the highest
category by at least one nationally recognized rating agency, reverse
repurchase agreements with a term of no longer than 90 days.
f. Include in its investment policy and/or operating procedures the following
information: a description of eligible investment securities and
unacceptable investments, a written statement on investment policy and
objectives, a description of interest calculations, distribution, and
treatment of gains and losses, security safeguarding, valuation
collateralization and auditing, and a fee schedule.
7. Direct repurchase agreements with primary security dealers or financial institutions
doing business in the State of Texas having a defined termination date, and
secured by U.S. Government or federal agency securities, provided that the
ownership of collateral for the repurchase agreement is transferred to the City, and
deposited with a safekeeping agent for the duration of the contract and a signed
master repurchase agreement has been executed with the counterparty.
8. SEC-registered no-load money market mutual funds with a dollar weighted average
portfolio of 90 days or less whose assets consist exclusively of United States
Government Securities whose investment objectives include seeking to maintain a
stable net asset value of $1.00 per share. Investment in mutual funds shall be
limited to a maximum of ten percent (10%) of the City's available funds.
Unacceptable Investment Instruments
The following securities, although authorized by the Public Funds Investment Act, are not
eligible investments for the City:
1. Collateralized mortgage obligations
2. Commercial paper
3. Banker's acceptances
4. Reverse repurchase agreements (Local Government Investment Pools which
the City participates in may engage in reverse repurchase agreements if the
term is 90 days or less)
5. No-load mutual funds other than SEC-registered no-load money market
mutual funds with a dollar weighted average portfolio of 90 days or less
whose assets consist exclusively of United States Government Securities
whose investment objectives include seeking to maintain a stable net asset
value of $1.00 per share.
6. Guaranteed investment contracts
7. Share certificates of qualifying credit unions
Investment Strategy
The investment strategy by type of fund is as follows:
(1) Operating Funds
The investment strategy for operating fund(s) is to assure that anticipated cash flows are
matched with adequate investment liquidity. A secondary objective is to create a portfolio,
which will experience minimum volatility during economic cycles. These funds shall not
have an investment with a stated maturity greater than eighteen (18) months.
(2) Debt Service Funds
The investment strategy for debt service fund(s) is the assurance of investment liquidity to
cover the debt service obligations on the required payment date. Investments purchased
shall not have a stated final maturity date which exceeds the corresponding debt service
payment date.
(3) Reserve Funds
The investment strategy for reserve fund(s) is the assurance of investment liquidity
adequate to cover the debt service obligations not funded by debt service funds on the
required payment date. Investment of reserve funds are controlled by their ordinance,
resolution or indenture, and Federal and State law. Bond documents must be examined
for each issue, for potential differences with this policy concerning investment instruments,
maximum maturity or average life restrictions, call dates or sinking fund redemptions, and
applicable arbitrage yields and rebate liability. Provisions contained in the bond documents
will supersede provisions of this policy.
Reserve funds will be invested using a more conservative approach than the current
standard investment strategy when arbitrage rebate rules require refunding excess
earnings. All excess earnings received will be segregated to allow a proper determination
of interest income to be used in the arbitrage calculation.
(4) Special Project or Special Purpose Funds
The investment strategy for special projects or special purpose fund portfolio(s) will have
as their primary objective to assure that anticipated cash flows are matched with adequate
investment liquidity. The states final maturity dates of securities held shall not exceed the
estimated project completion date. Funds in excess of defined construction payment
schedules shall be limited to a maximum final maturity date of three years.
Maturity limitations for single issue reserve funds shall not exceed the sooner of five (5)
years, the call provisions of the bond ordinance, or the final maturity of the bond issue.
A. Diversification
The City will attempt to limit the risk of loss through diversification of its portfolio and to
achieve the aforementioned investment strategies by diversification of instruments.
Maximum Percent
Diversification by Instrument of Portfolio
U.S. Treasury Obligations (Bills, Notes and Bonds),
U.S. Government Agency Securities,
and Instrumentalities of Government
Sponsored Corporations
100%
75%
Certificates of Deposit (CD's)
Commercial Bank's
75%
Local Government Investment Pool
75%
Tri-Party Repurchase Agreement
75%
SEC registered, no-load mutual fund
10%
Investment Procedures
The City shall enter the following agreements (if applicable): safekeeping, PSA repurchase
agreements, wire transfer agreements, banking services contracts, and
collateral/depository agreements. These contracts shall include the explicit delegation of
authority to persons responsible for the transactions involving these agreements. No
person except those designated in the contract may engage in any investment
transactions.
On all funds invested in instruments as listed in "Permissible Investments" numbers one
through five, oral bids shall be requested from at least two broker/dealers or national
banks. The City will accept the bid that provides the highest rate of return within the
maturity required and within the parameters of this policy. Records will be kept of the bids
offered, bids accepted, and a brief explanation of the decision that was made regarding the
investment.
Qualified Institutions
Annually, the City Council shall approve four financial institutions for investment purposes
as recommended by the Finance Director. All firms shall answer the Broker/Dealer
questionnaire (Appendix A) and submit their most recent audited financial statements to
the City Council for evaluation of credit worthiness. All personnel in the firms who will be
trading or quoting securities to the City Council must maintain a current NASD license and
be registered to deal securities in the State of Texas. An investment certification form
(Appendix B) on the firm's letterhead signed by a principal of the firm must be on file with
the City.
Safekeeping
All marketable securities purchased by the City shall be held in third party safekeeping by
an institution designated as primary agent. All securities will be delivered to the third party
institution by seller. Personnel in the third party institution will verify the correct security was
delivered by the seller ("delivery vs payment"). The third party institution shall issue a
safekeeping receipt to the City listing the specific instrument, rate/yield, maturity, CUSIP,
and other pertinent information. Collateral on deposit type securities which exceed the
FDIC coverage shall be held in a third party safekeeping institution. In the event a third
party safekeeping institution is used, a collateral agreement shall be executed between the
City Council, depository which pledged the collateral, and the third party custodian of the
collateral. The City will retain possession of all original safekeeping receipts and the
receipts will state the security is pledged to the City. Either the City Manager or the
Finance Director must approve release of collateral in writing prior to its removal from the
safekeeping account.
Collateral Securities for Certificates of Deposit and Demand Accounts
The City will accept as collateral for its Certificates of Deposit and demand accounts the
following securities:
A. FDIC coverage
B. U.S. Treasury bills, notes and bonds
C. United States Agency and instrumentalities bills or notes
D. GNMA mortgage backed fully modified pass through securities
E. Texas state, city county or school bonds with a remaining maturity of seven years
or less and a rating of "A" or better by Moody's, Fitch ICBA, and Standard and
Poor's.
F. Surety Bond
Collateral shall be "marked to market" monthly by the Finance Director. The following
percentages constitute the minimum market value for collateral instruments that are
pledged for the City's Certificates of Deposit and demand deposits.
Form of Collateral Pledged Collateral
Ratio
1. U.S. Treasury bills, notes, and bonds
a. maturing within 1 year
b. maturing in 1-5 years
c. maturing in more than 5 years
102%
105%
110%
2. Actively traded U.S. Government Agency securities
a. maturing in less than 1 year
b. maturing in 1-5 years
c. maturing in more than 5 years
103%
107%
115%
3. GNMA mortgage pass through securities
115%
4. Entities in the State of Texas bonds
General Obligation Bonds
a. maturing in less than 1 year
b. maturing in 1-5 years
c. maturing in more than 5 years
102%
105%
107%
Revenue Bonds
a. maturing in less than 1 year
b. maturing in 1-5 years
c. maturing in more than 5 years
105%
110%
115%
Collateral shall be audited annually be the City's independent auditor and may be audited
by the City at anytime during normal business hours of the safekeeping bank.
Arbitrage
The Tax Reform Act of 1986 places limitations on the City's yield from investing certain tax-
exempt bond proceeds, debt service funds and reserve funds. The rebate provisions
require that the City compute earnings on investments from certain issues of bonds on a
periodic basis to determine if rebate is required.
To determine the City's arbitrage position, the City is required to calculate the actual yield
earned on the investment of the funds and compare it to the yield that would have been
earned if the funds had been invested at a rate equal to the yield on the applicable bonds
sold by the City. The rebate provisions state that periodically (not less than once every five
years and not later than sixty days after maturity of the bonds), the City is required to pay
the United States Treasury a rebate of any excess earnings. These restrictions require
extreme precision in the monitoring and record keeping of investments, particularly in
computing yields to ensure compliance. Failure to comply can dictate that the bonds
become taxable, retroactively from the date of issuance.
The investment strategy for bond funds which fall under the arbitrage provisions of the Tax
Reform Act of 1986, is that the City will attempt to earn maximum allowable bond yield with
market conditions permitting.
Reporting Requirements
The Finance Director shall issue a written report quarterly to the City Council concerning
the City's investment transactions for the preceding quarter and describing in detail the
investment position of the City as of the end of the quarter indicating the market values of
all investments held during the quarter. The report shall list for each investment held
during the quarter: the purchase price of the investment, the par value of the investment,
the market value of the investment at the beginning of the quarter, market value of the
investment at the end of the quarter, the market change from the beginning until the end of
the quarter, and fully accrued interest for the period. This report shall be in compliance
with provisions of the Public Funds Investment Act, as amended. The report shall be
signed by the City Manager and Finance Director.
Training Requirements
Both the Finance Director and Assistant to the Finance Director shall complete ten hours of
training every two years as required by the Public Funds Investment Act. This training may
be obtained from the following sources: North Central Texas Council of Governments,
Government Treasurer's Organization of Texas, Government Finance Officer's of Texas, or
Texas Municipal League. The training must include education in investment controls,
security risks, strategy risks, market risks, and any other topics as required by the Public
Funds Investment Act.
CITY COUNCIL
cc0", AGENDA BRIEFING
"'l~:("S
MEETING DATE: I 05/03/05
ITEM #: ! 4
ORDINANCE #: ! 0-05-1522
CITY MANAGER '
DEPARTMENT HEAD I
FINANCE REVIEW !
Previous Action: 04/19/05
DEPARTMENT: COMMUNITY DEVELOPMENT
SUBJECT : Approval of a Zoning Change from AG to R40 on
1 .155 acres, out of the S.C.H. Witten Survey,
Abstract 1619, located at 5500 Montclair Drive,
Case Z -05-009
Second Reading and Public Hearing
First Reading and Public Hearing
Thomas and Faye McCurry are the potential developers of a 1.155-acre parcel of property
located at 5500 Montclair Drive. The applicants have submitted a request to change the
zoning of the property from AG Agricultural to R40 Single Family Residential. The owners are
seeking a zoning change in order to develop the property as a single family residence.
The developers propose to construct one single family dwelling on this one lot parcel. The
property is not currently platted and will require approval of a subdivision plat at a later date,
upon approval of the rezoning request. The existing property has 180 feet of frontage along
Montclair Drive and is approximately 280 feet deep. The R40 zoning district requires a
minimum lot width of 150 feet, a minimum lot depth of 150 feet, and a minimum lot area of
40,000 square feet. The developers have submitted a conceptual layout of the property
showing the potential lot configuration. The proposed lot, as shown on the zoning exhibit,
appears to meet the R40 zoning requirements. Approval of the rezoning request does not
constitute approval of the proposed lot layout.
The surrounding property is primarily single family residential in nature. Properties to the north
are zoned AG, and are currently used for single family residences. Properties to the west are
zoned R20, and are developed as the Montclair Parc single family subdivision. The properties
to the south and east, are zoned R40 and are developed as single family residences.
The following is an analysis of the major issues associated with this rezoning request.
Master Plan. The Colleyville Plan contains as a goal to "preserve the superior quality of
Colleyville's residential neighborhoods". This particular goal includes several objectives
relative to this zoning change request:
· Continue development of luxury residential areas while maintaining the "country feel"
along major collector streets
· Encourage redevelopment of older properties located along major collector streets into
estate settings
Agenda Briefing
Ordinance 0-05-1522
Page 2 of 3
· Preserve larger lot sizes, i.e., 30,000 sq. ft. and up, and promote the redevelopment or
combination of smaller lots into larger estate lots
Residential Density. The Master Plan suggests a maximum residential density of 1.8
dwelling units per acre in most situations. The maximum residential density for the R40 zoning
district is 1.25 dwelling units per acre. The applicant's proposed density is in compliance with
the Master Plan.
Lot Sizes & Widths. The R40 standards allow for a minimum lot size of 40,000 square feet.
The applicant proposes to create one single family lot that adheres to the lot area required by
the R40 zoning district.
Perimeter Street Improvement Requirements. Perimeter street improvements are not
required for this property. The Land Development Code provides for an exemption for any
tract or lot occupied by an existing residence. If vacant lots are created in the future, this
requirement will be reevaluated at that time.
IMPACT ISSUES
1. Master Plan. This request is consistent with the goals and objectives of the Master Plan.
2. Surrounding Properties. The surrounding properties are developed as single family uses.
3. Development Trends. The development trends in this area primarily focus on single
family development.
4. Infrastructure. Water and sanitary sewer service are available along adjacent rights-of-
way. The developer is responsible for the extension of water and sewer service lines to the
individual lots.
5. Property Taxes. According to information available from the Tarrant Appraisal District, the
1.55-acre parcel is valued at $196,900. The estimated City property tax revenue for the
undeveloped property is $684 annually. The future property tax revenue would depend
upon the value of the individual lot and the value of the house built on the lot.
6. Traffic Generation. The Institute of Transportation Engineers publication Trip Generation
provides estimates of expected traffic generation based on land use. Data has been
collected in the United States and Canada since the 1960's, primarily in suburban
locations. Single-family residences are expected to generate 9.57 trips per day, on
average.
7. Public Notification. Staff mailed notices to 15 adjacent property owners regarding this
request. Notice was published in the Fort Worth Star-Telegram as required by state law
and the Land Development Code. No correspondence has been received regarding this
request.
Agenda Briefing
Ordinance 0-05-1522
Page 3 of 3
Planning and Zoning Commission Recommendation. The Planning and Zoning
Commission considered this rezoning request on March 28, 2005, and recommended approval
by a unanimous vote.
Recommendation
Approval
Attachments
· Comparison of Existing and Proposed Zoning District Regulations
· Location and Zoning Map
· Information and Drawings from Applicant
· Ordinance 0-05-1522
Comparison of Existing and Proposed Zoning District Regulations
REGULATIONS EXISTING AG PROPOSED R40
Maximum Density 0.3 DU/AC 1.25 DU/AC
Minimum Lot Area 130,680 SF 40,000 SF
Minimum Lot Width 200 FT 150 FT
Minimum Lot Depth 300 FT 150 FT
Minimum Front 40 FT 40 FT
Yard Setback
Minimum Rear Yard 40 FT 25 FT
Setback
Minimum Side Yard 25 FT 15 FT
Setback
Maximum Lot 20% 20%
Coverage
Maximum Number 2.5 2.5
of Stories
Maximum Building 35 FT 35 FT
Height
Location and Zoning Map
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LOT 17
Current
Zoning: R-20
Information and Drawings from Applicant
5 89~42'38" E 280.33'
ELEOW HUNT AND
UNDA HUNT
147201287
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ZONING EXHIBIT FOR ZONING CHANGE
REQUEST FROM AG TO R-20
for
1.155 ACRES
Situated in the
S. C. H. WITTEN SURVEY, Abstract Number 1619,
City of Colleyville. Tarrant County, Texas
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Project Name 102259
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ORDINANCE NO. 0-05-1522
AN ORDINANCE OF THE CITY OF COLLEYVILLE, TEXAS, AMENDING THE
COMPREHENSIVE ZONING ORDINANCE OF THE CITY OF COLLEYVILLE,
TEXAS, AS HERETOFORE AMENDED; BY AMENDING THE OFFICIAL
ZONING MAP AND CHANGING THE ZONING ON 1.155 ACRES OUT OF THE
S.C.H. WITTEN SURVEY, ABSTRACT 1619, FROM THE AG-AGRICULTURAL
DISTRICT TO THE R40 SINGLE FAMILY RESIDENTIAL DISTRICT;
PROVIDING A SAVINGS CLAUSE; PROVIDING FOR INJUNCTIVE RELIEF;
PROVIDING A SEVERABILITY CLAUSE; PROVIDING FOR A PENALTY OF
FINE NOT TO EXCEED TWO THOUSAND DOLLARS ($2,000.00); AND
PROVIDING AN EFFECTIVE DATE
WHEREAS, an application for a zoning change was filed by Thomas and Faye
McCurry on March 4, 2005, under Case No. Z-05-009; and
WHEREAS, the City of Colleyville deems it necessary, for the purpose of promoting the
health, safety, morals, or general welfare of the City to enact a new zoning
ordinance; and
WHEREAS, the City Council has appointed a Planning and Zoning Commission to
recommend the boundaries of the various original zoning districts and
appropriate regulations be enforced therein and to recommend a new
zoning ordinance; and
WHEREAS, the Planning and Zoning Commission has divided the City into districts
and has prepared regulations pertaining to such districts in accordance
with a comprehensive plan and designed to lessen congestion in the
streets; to secure safety from fire, panic, and other dangers; to promote
health, general welfare; to provide adequate light and air; to prevent the
overcrowding of land; to avoid undue concentration of population; to
facilitate the adequate provision of transportation, water, sewerage,
schools, parks, and other public requirements; and
WHEREAS, the Planning and Zoning Commission, has given reasonable consideration,
among other things, the character of the districts and their peculiar
suitability for particular uses, with a view to conserving the value of
buildings and encouraging the most appropriate use of land throughout
the City; and
WHEREAS, the Planning and Zoning Commission of the City of Colleyville and the City
of Colleyville City Council, in compliance with the Charter of the City of
Colleyville, and State Law with reference to changes to zoning
classifications under the Zoning Ordinance Regulations and Zoning Map,
having given the requisite notices by publication and otherwise, and after
holding due hearings and affording a full and fair hearing to all the
property owners generally, and to the persons interested and situated in
Ordinance 0-05-1522
Page 2 of 3
the affected area and in the vicinity thereof, the governing body of the City
of Colleyville is of the opinion that said change in zoning should be made.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
COLLEYVILLE, TEXAS:
Sec. 1.
Sec. 2.
Sec. 3.
Sec. 4.
Sec. 5.
Sec. 6.
Sec. 7.
THAT all the foregoing premises and findings are found to be true
and correct and are incorporated into the body of this ordinance as if
copied in their entirety.
THAT the Comprehensive Zoning Ordinance of the City of
Colleyville, Texas, be, and the same is hereby amended by changing
the zoning of said property from the AG-Agricultural district to the
R40 Single Family Residential district, as depicted on the attached
Exhibit "A" and as described in the attached Exhibit "B".
THAT the above described tract of land shall be used only in the
manner and for the purposes provided by the Comprehensive Zoning
Ordinance of the City of Colleyville as heretofore amended, and as
amended herein.
THAT any person, firm or corporation violating any of the provisions
or terms of this ordinance shall be subject to the same penalty as
provided for in the Comprehensive Zoning Ordinance of the City of
Colleyville, and upon conviction shall be punishable by a fine not to
exceed the sum of Two Thousand Dollars ($2,000.00) for each
offense.
THAT if any section, paragraph, subdivision, clause, phrase or
provision of this ordinance shall be judged invalid or unconstitutional,
the same shall not affect the validity of this ordinance as a whole or
any portion thereof other than that portion so decided to be invalid or
unconstitutional.
THAT in addition to and accumulative of all other penalties, the City
shall have the right to seek injunctive relief for any and all violations
of this ordinance.
THAT it has been found that there has been a change in conditions
in the above described property, it is now necessary that it be given
the above zoning classification in order to permit its proper
development and in order to protect the public interest, comfort and
general welfare, and requires that this ordinance shall take effect
immediately from and after its passage.
Ordinance 0-05-1522
Page 3 of 3
AND IT IS SO ORDERED.
The first reading and public hearing being conducted on the
2005.
day of
The second reading and public hearing being conducted on the
2005.
day of
ATTEST:
CITY OF COLLEYVILLE
Cynthia Singleton, TRMC
City Secretary
Joe Hocutt
Mayor
APPROVED AS TO FORM AND LEGALITY:
Matthew C. G. Boyle
City Attorney
EXHIBIT A - ZONING MAP
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EXHIBIT B - METES AND BOUNDS DESCRIPTION
Being a tract of land situated in the S. C. H. Witten Survey, Abstract Number 1619, City of
COlleyville, Tarrant County, Texas and being all of that certain tract of land described to
Eleow Hunt and Linda Hunt by instrument recorded in Volume 14720, Page 287, Deed
Records of Tarrant County I Texas (DRTCT), said tract of land being more particularly
described by metes and bounds as follows:
BEGINNING at a point in the westerly right-of-way line of Montclair Drive for the northeast
corner of said Hunt tract and also being the southeast corner of that certain tract of land
conveyed to Amin Chitsazan by instrument recorded in Volume 14915, Page 18, DRTCT;
THENCE South 00014'54" East, along the common easterly line of said Hunt tract and
said westerly right-of-way line, a distance of 180.01 feet to a point for the southeast
corner of said Hunt tract;
THENCE North 89031'47" West, along the southerly line of said Hunt tract and joining the
northerly line of Lot 1, Block 1, BARKE ADDITION, an addition to the City of CoUeyville as
recorded in Cabinet A, Slide 3470, Plat Records of Tarrant County, Texas (PRTCT), a
distance of 280.22 feet to a point in the easterly line of Lot 17, Block 1, MONTCLAIR
PARC ADDITION, an addition to the City of Colleyville as recorded in Cabinet A, Slide
1194, PRTCT for the common southwest comer of said Hunt tract and the northwest
corner of said Lot 1;
THENCE North 00017'10" West, along the common westerly line of said Hunt tract and
the easterly line of said Lot 17 and Lot 16 in said Block 1 of MONTCLAIR PARC
ADDITION, a distance of 179.13 feet to a point for the common northwest corner of said
Hunt tract and the southwest comer of the aforementioned Chitsazan tract;
THENCE South 89042'38" East, along the common northerly line of said Hunt tract and
the southerly line of said Chitsazan tract, a distance of 280.33 feet to the POINT OF
BEGINNING and CONTAINING 1.155 acres of land, more or less.
CITY COUNCIL
cc~n(/) AGENDA BRIEFING
11"X;:,$
MEETING DATE: I 05/03/05
ITEM #: ! 5
ORDINANCE #: I 0-05-1523
CITY MANAGER I
DEPARTMENT HEAD i
FINANCE REVIEW I
Previous Action: 04/19/05
DEPARTMENT: COMMUNITY DEVELOPMENT
SUBJECT : Approval of a Zoning Change from AG to R40 and
R20 on 24.108 acres out of the William Dunn
Survey, Abstract 404, located at 6805 Pleasant Run
Road, Case Z-05-008
Second Reading and Public Hearing
First Reading and Public Hearing
Stonebridge Development is the potential developer of a 24.1-acre parcel of property located
on the east side of Pleasant Run Road, south of John McCain Road. The applicant has
submitted a request to change the zoning of the property from AG-Agricultural to the R40 and
R20 Single Family Residential districts. The owner is seeking a zoning change in order to
develop the property as single family residences.
The property has 580 feet of frontage along Pleasant Run Road and is approximately 1,489
feet deep. The developer has submitted a conceptual layout of the property showing a
potential lot configuration. The proposed lots, as shown on the zoning exhibit, appear to meet
the R40 and R20 zoning requirements. Approval of the rezoning request does not constitute
approval of the proposed lot layout and does not bind the developer to any particular lot
arrangement. The property is not currently platted and will require approval of a subdivision
plat at a later date, upon approval of the rezoning request. However, the developer has
submitted a preliminary plat of the property for the purpose of addressing concerns from
neighbors that the layout could change once the rezoning request has been approved. The
preliminary plat will be a separate agenda item for consideration by the City Council at a future
date.
If the rezoning request is approved, the developer proposes to plat 29 single family lots and
three open space lots. The density of the proposed development is 1.2 dwelling units per acre.
The zoning exhibit shows eight R40 lots within the development. Three of the R40 lots have
frontage along Pleasant Run Road, with the remaining R40 lots extending eastward into the
proposed subdivision. There are 21 R20 lots situated on the east side of the development,
which is adjacent to the Warwick Parc addition. The Warwick Parc addition is zoned R20.
The applicant is proposing three open space lots. However, open space is not required by the
Land Development Code for straight R40 and R20 zoning. The primary open space lot (Lot
16, Block 1) will contain a detention pond. As proposed on the zoning exhibit, the remaining
two open space lots will extend north and south along the eastern edge of the development
and will function as a location for a future trail system route, which will eventually provide a trail
connection between John McCain Road and the Cottonbelt Trail. A 10-foot wide trail is
Agenda Briefing
Ordinance 0-05-1523
Page 2 of 4
required by the Colleyville Pathways Plan along the east side of Pleasant Run Road, but the
developer has been working with staff to provide the trail between the subject property and the
Warwick Parc addition.
The surrounding properties are single family residential in nature. Properties to the north are
zoned R40 and AG, and are currently used for single family residences. Properties to the east
are zoned R20, and are under development as single family residences. The property to the
south, which is owned by the City, is zoned AG and is used for practice soccer fields.
Properties to the west, across Pleasant Run Road, are zoned AG and RE and are developed
as single family residences.
During the public hearing process, there were concerns from neighbors in the area regarding
possible cut-through traffic, due to the proposed street connection with the Warwick Parc
addition. In response to those concerns, the developer has proposed to make this
development a gated subdivision with the entrance located on Pleasant Run Road, which
would be determined at time of platting and not a condition of this rezoning request. The
developer proposes to have a secondary emergency access on the east side of the
development which will connect with an existing street stub-out in the Warwick Parc addition.
At the Planning and Zoning Commission meeting on March 28, 2005, the Commission
considered a preliminary plat of this development. The purpose of submitting the preliminary
plat to the Commission at that time was to address concerns from citizens in the area that the
developer could alter the layout of the development once the zoning had been approved. The
Commission approved the preliminary plat, but did not approve the plat as a gated
development. It was the consensus of the Commission that the street through this
development should be a public street to allow for better traffic circulation for the residents of
this development and the adjacent Warwick Parc Addition. The preliminary plat will be placed
on the City Council agenda for consideration at the May 3,2005 meeting.
The following is an analysis of the major issues associated with this rezoning request.
Master Plan. The Colleyville Plan contains as a goal to "preserve the superior quality of
Colleyville's residential neighborhoods". This particular goal includes several objectives
relative to this zoning change request:
. Promote greenbelts and buffer areas in front of subdivisions adjacent to major
thoroughfares.
. Continue development of luxury residential areas while maintaining the "country feel"
along major collector streets
. Encourage redevelopment of older properties located along major collector streets into
estate settings
Residential Density. The Master Plan suggests a maximum residential density of 1.8
dwelling units per acre in most situations. Based on 29 residential lots, the applicant's
proposed density is 1.2 dwelling units per acre.
Agenda Briefing
Ordinance 0-05-1523
Page 3 of 4
Lot Sizes & Widths. The R40 regulations require a minimum lot size of 40,000 square feet.
The R20 standards allow for a minimum lot size of 20,000 square feet. The applicant
proposes to create 29 single family lots, each adhering to the lot area required by the
respective zoning districts.
Open Space. No open space is required for the R40 and R20 districts; however this project
provides three open space lots. The primary open space lot will be located within the
neighborhood, Lot 16, Block 1, and will contain a detention pond. The other two open space
lots will extend from John McCain Road to the southern boundary of the property and will
contain a 10-foot wide trail.
Log Barn. This paragraph has been included for information purpose and is not related to this
rezoning case. Located on this property is an old log barn that there has been interest shown
in trying to preserve the structure. There have been discussions between the developer and
staff regarding a strategy for relocating the structure to a new site to allow full development of
the property in question. Attached to this agenda briefing is a copy of a staff memo which
summarizes the status of the log barn.
Sidewalks and Trails. Sidewalks are required to be constructed on each individual lot within
the development at the time homes are constructed on the lots. The Development Code
requires these sidewalks be four feet in width. The Colleyville Pathways Plan shows a 10-foot
trail along the frontage of Pleasant Run Road; however the precise location of the trail will be
determined at the time of platting. Staff has had discussions with the developer to locate the
1 O-foot wide trail on the eastern border of the property, adjacent to the Warwick Parc addition.
IMPACT ISSUES
1. Master Plan. This request is consistent with the goals and objectives of the Master Plan.
2. Surrounding Properties. The surrounding properties are developed as single family uses.
3. Development Trends. The development trends in this area primarily focus on single
family development.
4. Infrastructure. Water and sanitary sewer service are available along adjacent rights-of-
way. The developer is responsible for the extension of water and sewer service lines to the
individual lots.
5. Property Taxes. According to information available from the Tarrant Appraisal District, the
24.1-acre parcel is valued at $1,051,900. The estimated City property tax revenue for the
undeveloped property is $3,654 annually. The future property tax revenue would depend
upon the value of each individual lot and the value of the house built on the lot.
6. Traffic Generation. The Institute of Transportation Engineers publication Trip Generation
provides estimates of expected traffic generation based on land use. Data has been
collected in the United States and Canada since the 1960's, primarily in suburban
Agenda Briefing
Ordinance 0-05-1523
Page 4 of 4
locations. Single-family residences are expected to generate 9.57 trips per day, on
average. Based on this average, the 29 proposed residences would add 277.5 vehicle trips
per day to the surrounding roadways.
7. Public Notification. Staff mailed notices to 20 adjacent property owners regarding this
request. Notice was published in the Fort Worth Star-Telegram as required by state law
and the Land Development Code. No correspondence has been received regarding this
request.
Planning and Zoning Commission Recommendation. The Planning and Zoning
Commission considered this rezoning request on March 28, 2005, and recommended approval
by a unanimous vote.
Recommendation
Approval
Attachments
. Comparison of Existing and Proposed Zoning District Regulations
· Location and Zoning Map
. Information and Drawings from Applicant
· Memorandum
· Ordinance 0-05-1523
Comparison of Existing and Proposed Zoning District Regulations
REGULATIONS EXISTING PROPOSED PROPOSED
AG R20 R40
Maximum Density 0.3 DUlAC 2.1 DU/AC 1.25 DU/AC
Minimum Lot Area 130,680 SF 20,000 SF 40,000 SF
Minimum Lot Width 200 FT 100 FT 150 FT
Minimum Lot Depth 300 FT 125 FT 150 FT
Minimum Front 40 FT 30 FT 40 FT
Yard Setback
Minimum Rear 40 FT 25 FT 25 FT
Yard Setback
Minimum Side Yard 25 FT 10 FT 15 FT
Setback
Maximum Lot 20% 30% 20%
Coverage
Maximum Number 2.5 2.5 2.5
of Stories
Maximum Building 35 FT 35 FT 35 FT
Height
Location and Zoning Map
D
NORTH
R-40
AG
R-20
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STONEBRIDGE PARe
BJ:ING 24... Aau:s
Ol'1'Ofl'lBE
WRUAM DUNN SURVEY,
ABSTRACT No. 404,
lII1IA.lD 1N1IIIaTYCII'ClIIU&Y'fII,UI, TABAN1'(IJ(IHft.1DAI
tSEE ATT.~CHEDFIF.I,D SOTE DESCRIPTIO'S)
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MEMORANDUM
TO:
Mayor and Members of the City Council
Bill Lindley, City Manager
FROM:
Paul Frederiksen, Assistant City Manager
DATE:
April 27, 2005
RE:
DunnlTirk Log Barn located at the 900 Block of John McCain Road
On April 4, 2001 representatives with the City of Colleyville, Colleyville Historic
Preservation Committee (HPC), Weldon Nash of HLM Design, Karl Von Bieberstein of
NJB, Inc. and the Southwest office of the National Trust for Historic Preservation
performed a tour of seven likely historic structures within the City of Colleyville.
The findings from the 2001 tour indicate that the condition of the Dunn/Tirk Log Barn is
restorable and in reasonably good condition. In fact, this log structure is very significant
- probably one of the last intact and in existence - log buildings in Tarrant County.
Approximately 40% of the logs would probably need to be replaced with historically
accurate replications. The roof and related framing would also need to be replaced.
Since the structure has already been moved from its original location on the site, it may
already be disqualified for National Register status however, restored log structures
usually are of interest to the general public.
Since that time the property surrounding the site of the log barn has either been platted
or is under consideration for development. According to the plat submitted for the
proposed Stonebridge Park development located on Pleasant Run Drive, the structure
will have to be relocated. Since April 2004, City staff has been in discussions with Mr.
John Fegan regarding the possible acquisition and rehabilitation of the Dunn/Tirk Log
Barn located at the 900 Block of John McCain Road. Mr. Fegan is the developer of two
subdivisions that encompass the site of the log barn, Warwick Park and the proposed
Stonebridge Park. At the Planning and Zoning Commission meeting, Tuesday, March
28, 2005 Mr. John Fegan, stated he was working with the Parks Department, having
agreed to pay to move the cabin to wherever the city wants the cabin, leaving that to the
city.
At their meeting Tuesday, April 12, 2005 the Historic Preservation Committee passed a
resolution expressing support to have the Log Barn relocated to Bransford Park to a site
adjacent to the Webb House. A question was raised previously as to whether locating
the Dunn/Tirk Log Barn structure at Bransford Park would jeopardize the application for
the Webb House on the National Registry. Mr. Gregory W. Smith, National Register
Coordinator with the Texas Historical Commission has confirmed with staff that as long
as the structure keeps the appropriate distance from the Webb House and no other
structures are located at the site then there would be no risk to the application for the
Webb House on the National Registry.
The contractor with the lower estimate mentioned if he is available it is estimated that
the rehab and site development could take up to three to four months to complete. I
have attached for your review a proposed breakdown of revenues and expenses
associated with this project. Staff would need to go out for bids, requiring pre-
qualification to those firms that specialize in this form of historic relocation and
rehabilitation.
The Historic Preservation Committee would forward a recommendation, updating the
Bransford Park Master Plan to account for the relocation of the Dunn/Tirk Log Barn, to
City Council for your consideration and approval. Concurrently, staff will schedule a
meeting with the Parkland Dedication Committee for their recommendation pertaining to
the allocation of parkland dedication funds for this project. Their recommendation would
be forwarded to the Parks and Recreation Advisory Board and City Council requiring
your consideration and approval as well.
Please let me know if I can provide any further information.
cc: Monica Walsh, Director, Parks and Recreation Department
Dixie Cawthorne, Communications Manager
Attachments
. Proposed Project Budget - Dunn/Tirk Log Barn
. Pictures - Dunn/Tirk Log Barn
. Map - Webb House/Log Barn Location
Proposed Project Budget: DunnlTirk Log Barn
Revenues
Parkland Dedication Fees No. of Lots
Development - Warwick Park (John McCain Road) $ 73,576 68
Development - Proposed Stonebridge Park (Pleasant Run) $ 31,378 29
Total $ 104,954
Expenses
Acquisition TBD
Relocation $ 11,000
Rehabilitation $ 122,000
Site Grading $ 5,000
Irrigation $ 3,000
Electrical - Security Lighting $ 5,000
Sidewalk $ 2,000
Contingency $ 10,000
Total $ 158,000
Remaining Amount to be Funded $ (53,046)
Note: There are no funds budgeted for this project at this time.
The difference from the park land dedication fees from the two
developments and the remaining amount of $53,046 is proposed
to come from parkland dedication fund. This calculation is based
on number of lots multiplied by $1,080 per lot. As of 4-15-05, Mr.
Fegan has not submitted a donation form for the DunnlTirk Log
Barn for City Council approval.
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ORDINANCE NO. 0-05-1523
AN ORDINANCE OF THE CITY OF COLLEYVILLE, TEXAS, AMENDING THE
COMPREHENSIVE ZONING ORDINANCE OF THE CITY OF COLLEYVILLE,
TEXAS, AS HERETOFORE AMENDED; BY AMENDING THE OFFICIAL
ZONING MAP AND CHANGING THE ZONING ON 24.01 ACRES OUT OF THE
WILLIAM DUNN SURVEY, ABSTRACT 404, FROM THE AG-AGRICUL TURAL
DISTRICT TO THE R40 AND R20 SINGLE FAMILY RESIDENTIAL
DISTRICTS; PROVIDING A SAVINGS CLAUSE; PROVIDING FOR
INJUNCTIVE RELIEF; PROVIDING A SEVERABILITY CLAUSE; PROVIDING
FOR A PENALTY OF FINE NOT TO EXCEED TWO THOUSAND DOLLARS
($2,000.00); AND PROVIDING AN EFFECTIVE DATE
WHEREAS, an application for a zoning change was filed by Stonebridge Development
on March 4, 2005, under Case No. Z-05-008; and
WHEREAS, the City of Colleyville deems it necessary, for the purpose of promoting the
health, safety, morals, or general welfare of the City to enact a new zoning
ordinance; and
WHEREAS, the City Council has appointed a Planning and Zoning Commission to
recommend the boundaries of the various original zoning districts and
appropriate regulations be enforced therein and to recommend a new
zoning ordinance; and
WHEREAS, the Planning and Zoning Commission has divided the City into districts
and has prepared regulations pertaining to such districts in accordance
with a comprehensive plan and designed to lessen congestion in the
streets; to secure safety from fire, panic, and other dangers; to promote
health, general welfare; to provide adequate light and air; to prevent the
overcrowding of land; to avoid undue concentration of population; to
facilitate the adequate provision of transportation, water, sewerage,
schools, parks, and other public requirements; and
WHEREAS, the Planning and Zoning Commission, has given reasonable consideration,
among other things, the character of the districts and their peculiar
suitability for particular uses, with a view to conserving the value of
buildings and encouraging the most appropriate use of land throughout
the City; and
WHEREAS, the Planning and Zoning Commission of the City of Colleyville and the City
of Colleyville City Council, in compliance with the Charter of the City of
Colleyville, and State Law with reference to changes to zoning
classifications under the Zoning Ordinance Regulations and Zoning Map,
having given the requisite notices by publication and otherwise, and after
holding due hearings and affording a full and fair hearing to all the
property owners generally, and to the persons interested and situated in
Ordinance 0-05-1523
Page 2 of 3
the affected area and in the vicinity thereof, the governing body of the City
of Colleyville is of the opinion that said change in zoning should be made.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
COLLEYVILLE, TEXAS:
Sec. 1.
Sec. 2.
Sec. 3.
Sec. 4.
Sec. 5.
Sec. 6.
Sec. 7.
THAT all the foregoing premises and findings are found to be true
and correct and are incorporated into the body of this ordinance as if
copied in their entirety.
THAT the Comprehensive Zoning Ordinance of the City of
Colleyville, Texas, be, and the same is hereby amended by changing
the zoning of said property from the AG-Agricultural district to the
R40 and R20 Single Family Residential districts, as depicted on the
attached Exhibit "A" and as described in the attached Exhibit "B".
THAT the above described tract of land shall be used only in the
manner and for the purposes provided by the Comprehensive Zoning
Ordinance of the City of Colleyville as heretofore amended, and as
amended herein.
THAT any person, firm or corporation violating any of the provisions
or terms of this ordinance shall be subject to the same penalty as
provided for in the Comprehensive Zoning Ordinance of the City of
Colleyville, and upon conviction shall be punishable by a fine not to
exceed the sum of Two Thousand Dollars ($2,000.00) for each
offense.
THAT if any section, paragraph, subdivision, clause, phrase or
provision of this ordinance shall be judged invalid or unconstitutional,
the same shall not affect the validity of this ordinance as a whole or
any portion thereof other than that portion so decided to be invalid or
unconstitutional.
THAT in addition to and accumulative of all other penalties, the City
shall have the right to seek injunctive relief for any and all violations
of this ordinance.
THAT it has been found that there has been a change in conditions
in the above described property, it is now necessary that it be given
the above zoning classification in order to permit its proper
development and in order to protect the public interest, comfort and
general welfare, and requires that this ordinance shall take effect
immediately from and after its passage.
Ordinance 0-05-1523
Page 3 of 3
AND IT IS SO ORDERED.
The first reading and public hearing being conducted on the
2005.
day of
The second reading and public hearing being conducted on the
2005.
day of
ATTEST:
CITY OF COLLEYVILLE
Cynthia Singleton, TRMC
City Secretary
Joe Hocutt
Mayor
APPROVED AS TO FORM AND LEGALITY:
Matthew C. G. Boyle
City Attorney
EXHIBIT A - ZONING MAP
EXHIBIT B - METES AND BOUNDS DESCRIPTION
R20 Zoning
ALL of that certain tria or pIlI'c.e1 of land situated in the 'WlLLlA.\4 DUf\i'N SURVEY, A~ No. 2)4,
Tamnt Cooof)i, 1'~ and being a. ponton of that lIim1C tm;t dncribed to John Fegan &S recorded In lnstrum.eftt
No. 0204335196, Deed Records, Tamm County, TCKU tINl beiDa more pMticu1ady dcaribed by metes. atJd
bou.nd$ 8$ fellows:
BEOIJ'lo'NING at a 112 Incb capp:d ~ rod itamped ~MOAK SliRV lNC" found for the sol"w)'west corfJ(;r of
lot 5,Qlock !, AdUr &, Brown Es.wa. .... Addition to the City of CoU"yviUe, Tarrant COllnty, Texas a::>
rec~ in VoIumt 318-121, p. 55. Plat ~ Tarrant County. Texas:
lHENCE North 89 ~ 51 minutes 24 s<<onds East wjth tbe sout.bct'ly boundary liDe Qf said Lot S. a
dis.tmce ot' 4!O.OO lcct to a 111 inch capped ~Ilel rod stamped "MOAK SURV !Ne" found fur flu: southcast
comer of $8iUlC: :
THENCE North 00 dearees 08 minutes 43secoods 'Wc:st with said easterly boundll)' hne of the same, 612.09
feel. to II nail found In 1M approximate! centft"liae of John McCain Road.
THENCE NoRb 19 ~ 51 mlDUfti 14 ~ East wir.h said .proKimate ~ine, 40_26 fee:t to It nail
found fOf me most hOtIberty nortbcasl ooma of said Fegan 1laCt;
THENCE South 00 degrees 11 minuld S9 licoond$ East with lhe c~rly boundary line of said Fegan tl1I.Cl.
] 465.50 feet to a 518 inch stcelrod found fer the: southea.'" comer of ~~
'1 HENCE Notdll9 degrees 41 minutes 01 ~ West wida the sou&baty boundary line of _d Fegan II11II:;(. a
di~ of962,26 feet:
'nmNCE North 00 ~ t 8 mmutes 59 ~., f;a.";t. a clistl!lnU' of 171 30 fcc:c,
fHENCE North 61 ~ 2l oUmtleS 24 sr(:oods East, . d.islance of 133,90 feet;
THENCE North 00 ~ 18 mlOl.ltes 59 SlXOQIh East, adisWl<< 0(263.74 f~
THENCF. SouI:b 12 ~ II miautes S2 sec~ East. . disIaDoe of 11 '1.91 feet to the: be~ of. <:!.irW to
the ri8ht whoge c:enler bca.rs South &2 dq.rr:cs 3.3 mmull5 S2 ~ Ed at 50.00 feet~
fHENCE northeasterly with $aid CUJ'\'C to lbe right. havlns an lite leIlgtb of L 15.~ foel_ an cenval angle of 1}2
degrees 20 miMUes 5 S seconds and a chord beanor. North 71 defrees 36 minutes 36 seconds f.a:st at 91.48 r.,.~~
THENCBNtda49....47......OJ..:J..,...lifU *ofI2l.'I_
1'1tEMCB ... 29 .... ..... -II 31 lit'll." W.... . ill. IIr vi 1"1 .... .. 1"'" .. " .....,
1iaetJI LoI4. BIodc'."'_ AidIir AddV..-.;
1HINC8 ........ ~ .111J1" _:-.~ 22 "tlM"'l4.1111t -willa IIid ......, ....~ ... . ~~ vi 1.t6.1 S
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EXHIBIT B - METES AND BOUNDS DESCRIPTION
R40 Zoning
ALL of that certain traCt or pucel (lt'1and $huated in me \VILL1AM DUNN SURVEY, AbsottBCt No. 234,
Tarrant County, T~l(U and beintJ a portion of that AllIe tract described to John Fegan as rc:c;orded in lnnrumem:
No,OO0433S196, ~ Records., T3I'1'am CQt.dy, Texas and beinc more part~l.Ilarty desu,bed by metes and
bounds as mOow!:
BEOINNlNG at . nail fulfti for the ~ corner of said Feglln trw;t. also being in the .pprQ~
oen.cetW ofP~ Run Road~
THENCE South &9 dettees 21 minutes ]6 seconds East with the north bolJ1td.ary liDc of said lfad., 669.96 feci to
a 112 incb steel J'()d ibund fur dx Imst soutbtrly southeut comet of Lot 4, Ad.a.iT &: 8rown Estates., an Addition
(I,) the (~ity QfCoUe)'\'i1Je. Tammr COlIMy. Texas as reconkd in V ohuDe 381-120, Pasc 8, Plat Records, Tarrant
Councy, Te:JtllS;
THENCE North 60 ckgrees SO miALR.es 22 seconds East with the southcrl)' boundary line of said Lot 4, a
distance of 256, ,. k1:;
THENCE SOlJth 19 degrees 09 mm1it~ 38 soconds fa-'ll. adLanceof 140,8' feet~
THE..NCI! South 4~ dcsrecs 47 minuu:s (J~ ieCOOI:b \Vest, . distance of 128.31 feet to t.hc begimUng of a cW"..-e kl
the left v,'bose CfII'.Mt bMrlii South 49 de~teeS.' _utes OJ ~TKb We$ at 50.00 feet;
THENCE southwesterly with .5IUd curve to the left. ha"ing an arc; length of t. S.S4J fee:t, a c:er..~ angM: of 132
d~ 7.0 m!nY4(>'$ '\~ ~M' And .. dIiord. be.~ Sol41a TJ titare116 36 !'l"Iintllfl5 36 ~nd3 West 11l 91.48 ~t,
THENCE North 82 degl"t:C:S H I~l~ 52 second..s ';Vcst, a dkt:ance of 117,91 fec1;
THF.NCF South 00 degrMS 18 minlJte$ 59 ~ We~~ a d:i&t.am;;;e of263.74 fM~
flU,NeE S",uth 61 dqnu 23 mint.l.. 24 ~ W1dISt, a ~ of133.90 teet;
-THENCE Sooth 00 degrees II miIlule5 )9 secoam. West, a distance of 171 .]0 feet to tile southerty bo~&t)'
line of saki f e.pA tratt:
THE.NCE NQrth 19 ~ 41 mmu.es 0 l ~ Weu ~iti. said southerly boundary 1ir1.Et. a distance of 527 - 06
fttt to a nail found for the southwest comer of ~ Fepn Uj,Ct. .k.o beu~ I" dlC approJf.imfIIe centerline of said
Pl~ Run Road;
THINCB ... 00 1._ 36 nJLlr A. 05 ..w" ... ...... JIj 'Alii)' .---, ... 01..... ..... DI:t. .
d._~ofSlO.25 MID.... 01.... .! ..~ t.Gldl_ar........ or....
WE, AS SENIOR CITIZENS OF COLLEYVILLE, URGE THE MAYOR AND CITY COUNCIL
TO PROCEED WITH BUILDING A SENIOR CENTER ON THE OLD CITY HALL PROPERTY.
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_______~l:_' AS SENIOR CITIZENS WHQBE9_~~~_L Y PARTICIPATE IN COLLEYVI~~_l:___ _
un ~_I:NI~~_~~!!Y~l"I~~~_lJ~~I:_!tI_1: M~,!,OR AN~ CITY ~QlJ~_~I~,..Q f)~Q~I:I:~ ~!!i___
BUILDING A SENIOR CENTER ON THE OLD CITY HALL PROPERTY.
NAME ADDRESS
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WE, AS SENIOR CITIZENS OF COLLEYVILLE, URGE THE MA VOR AND CITY COUNCIL
TO PROCEED WITH BUILDING A SENIOR CENTER ON THE OLD CITY HALL PROPERTY.
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WE, AS SENIOR CITIZENS OF COLLEYVlLLE, URGE THE MAYOR AND CITY COUNCIL
TO PROCEED WITH BUILDING A SENIOR CENTER ON THE OLD CITY HALL PROPERTY.
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citr Of
CITY COUNCIL cce", AGENDA BRIEFING
Tl.'"X~~
MEETING DATE: 05/03/05 CITY MANAGER
ITEM # : 6 DEPARTMENT HEAD
RESOLUTION #: I 0-05-1524 FINANCE REVIEW! N/A
Previous Action: None
DEPARTMENT: FINANCE
SUBJECT: Approval to amend Section 2 of Ordinance 0-04-
1493 relating to the Fiscal Year 2004-2005 Budget,
to authorize the expenditure of $975,000 of
unappropriated fund balance of the General Fund
for the construction of the Senior Citizen's Center on
the site of the former City Hall Building at 5400
Bransford Road
Second Reading and Public Hearing
First Reading and Public Hearing
As requested by a member of the City Council, this item has been placed on the City Councjl
agenda for consideration. At the June 30, 2004 Council Worksession, the City CounLII
requested that staff pursue the selection of an architectural firm for the design and construction
of a new Colleyville Senior Center. In September 2004, the City Council approved a contract
with Brinkley Sargent Architects (BSA) for architectural design services. BSA completed
Phase I of the design, which included programming, master planning and budgeting for the
facility. Phase II, which is currently on hold, is to include basic services to develop design and
construction documents, on-site civil, landscape design fees and interior design.
The programming and master plan study for the Senior Center provides for an approximately
6,000 square foot facility, replacing the former City Hall building due to its age and condition.
The new building will be designed for program elements including such activities as arts and
crafts, billiards, banquets and special events. The area adjacent to the proposed facility will
allow for future historical building pad sites to be relocated.
The overall design-construction-furnishings for the building is approximately $1,200,000. At
the August 24, 2004 meeting of the Colleyville Economic Development Corporation, the Boarrl
of Directors approved $225,000 for Senior Center design and furnishings as part of the
Economic Development Capital Improvement Plan.
Financial Impact
Amendment of the General Fund Budget by $975,000 by using the unappropriated fund
balance.
Agenda Briefing
Ordinance 0-05-1524
Page 2 of -:..
The estimated operational budget for the first year of the Senior Center's operation, including
start-up costs, is $171,425. This amount includes a total of $17,475 for start-up costs, which
will not be included in future operational budgets. Start-up items include office and program
supplies and office, computer and operating equipment. The current Parks and Recreation
Department budget includes one full-time position, contractual services and supplies for a total
of $45,084. The remaining $108,866 provides for operational services related to the new
facility.
Recommendation
A draft Ordinance is provided for Council consideration allocating use of Fund Balance.
Attachments
. Ordinance 0-05-1524
ORDINANCE 0-05-1524
AN ORDINANCE AMENDING SECTION 2 OF ORDINANCE 0-04-1493 RELATING TO
THE FISCAL YEAR 2004-2005 BUDGET, TO AUTHORIZE THE EXPENDITURE OF
$975,000 OF UNAPPROPRIATED FUND BALANCE OF THE GENERAL FUND FOR THE
CONSTRUCTION OF THE SENIOR CITIZEN'S CENTER ON THE SITE OF THE
FORMER CITY HALL BUILDING AT 5400 BRANSFORD ROAD; AND PROVIDING FOR
AN EFFECTIVE DATE.
WHEREAS, the City Council desires that additional funding be added to the Parks
Department budget (line item Account 001-32-6620) in the amount of
$975,000 for the construction of a Senior Citizen's Center on the site of the
former City Hall building at 5400 Bransford Road and the source of the
funding is the unappropriated fund balance; and
WHEREAS, the appropriation was not included in the Fiscal Year 2004-2005 Budget
approved by the City Council; and
WHEREAS, the City Council finds that the adoption of this Ordinance is in the best
interests of the health, safety, and welfare of the public.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
COLLEYVILLE, TEXAS:
Sec.1.
THAT all of the above premises are found to be true and correct and are
hereby incorporated into the body of this ordinance as if copied in their
entirety herein.
Sec. 2.
THAT appropriations in the annual budget for Fiscal Year 2004-2005 as
adopted by Ordinance 0-04-1493 are amended to read as follows:
General Fund
Utility Fund (Water & Wastewater)
Debt Service Fund
Drainage Utility Fund
$15,270,071
$ 8,468,927
$ 2,132,271
$ 672,036
The additional $975,000 being added to the General Fund shall come from
the unappropriated fund balance.
Sec.3.
THAT the City Manager be and is hereby authorized to make the appropriate
change to the budget to reflect the changes noted above.
Sec.4.
THAT the effective date of this ordinance shall be immediate upon its
passage.
AND IT IS SO ORDERED.
The first reading and public hearing being conducted on the
2005.
The second reading and public hearing being conducted on the
2005.
Ordinance 0-05-1524
Page 2 of 2
ATTEST:
CITY OF COLLEYVILLE
Cynthia Singleton, TRMC
City Secreta ry
Joe Hocutt
Mayor
APPROVED AS TO FORM AND LEGALITY:
Matthew C.G. Boyle
City Attorney
day of
day of
CITY COUNCIL
cc@n0 AGENDA BRIEFING
il~X:\$
MEETING DATE: i 05/03/05
ITEM #: i 7
ORDINANCE #: I 0-05-1525
!
CITY MANAGER I
i
DEPARTMENT HEAD i
FINANCE REVIEW i
Previous Action: none
DEPARTMENT: COMMUNITY DEVELOPMENT
SUBJECT : Approval of a Zoning Change from AG and R30 to
R40 on 2.55 acres located at 6112 and 6115 Hunter
Lane, Case Z-05-011
First Reading and Public Hearing
C.L. Madden has submitted a request to change the zoning of 2.55-acres, located at 6112 and
6115 Hunter Lane, from AG Agricultural and R30 Single Family Residential to R40 Single
Family Residential. The applicant is seeking a zoning change in order to develop the property
as single family residences.
The properties are located at the northern end of Hunter Lane. The applicant proposes to
rezone the properties in order to construct two single family lots. The properties are currently
platted but the current lot configuration does not meet the developers proposed plans.
In order to subdivide the property, approval of a subdivision replat will be required at a later
date, upon approval of the rezoning request.
The R40 zoning district requires a minimum lot area of 40,000 square feet. Both properties
exceed 40,000 square feet and meet the minimum requirements of the R40 zoning district.
The developer has submitted a zoning exhibit illustrating the areas to be rezoned as well as a
potential lot configuration. The proposed lots, as shown on the zoning exhibit, appear to meet
the R40 zoning requirements. Approval of the rezoning request does not constitute approval
of the proposed lot layout.
The surrounding properties are primarily single family residential in nature. Property to the
north is zoned AG, and is currently used for single family residences. Property to the west is
zoned R30, and consists of single family residences. The properties to the south and east are
zoned R30 and R40 and are developed as single family residences.
The following is an analysis of the major issues associated with this rezoning request.
Master Plan. The Colleyville Plan contains as a goal to "preserve the superior quality of
Colleyville's residential neighborhoods". This particular goal includes objectives relative to this
zoning change request:
. Maintain the current leve/ of housing quality and density
Agenda Briefing
Ordinance 0-05-1525
Page 2 of 3
. Preserve larger lot sizes, i.e., 30,000 sq. ft. and up, and promote the redevelopment or
combination of smaller lots into larger estate lots
Residential Density. The Master Plan suggests a maximum residential density of 1.8
dwelling units per acre in most situations. The maximum residential density for the R40 zoning
district is 1.25 dwelling units per acre. The applicant's proposed density is in compliance with
the Master Plan.
Lot Sizes & Widths. The R40 standards allow for a minimum lot size of 40,000 square feet.
The applicant proposes to create two single family lots that adhere to the lot area required by
the R40 zoning district.
IMPACT ISSUES
1. Master Plan. This request is consistent with the goals and objectives of the Master Plan.
2. Surrounding Properties. The surrounding properties are developed as single family uses.
3. Development Trends. The development trends in this area primarily focus on single
family development.
4. Infrastructure. Water and sanitary sewer service are available along adjacent rights-of-
way. If required for the development, the developer is responsible for the extension of
water and sewer service lines to the individual lots.
5. Property Taxes. According to information available from the Tarrant Appraisal District, the
2.55-acre parcel is valued at $315,380. The estimated City property tax revenue for the
undeveloped property is approximately $1,095 annually. The future property tax revenue
would depend upon the value of the individual lot and the value of the house built on the lot.
6. Traffic Generation. The Institute of Transportation Engineers publication Trip Generation
provides estimates of expected traffic generation based on land use. Data has been
collected in the United States and Canada since the 1960's, primarily in suburban
locations. Single-family residences are expected to generate 9.57 trips per day, on
average.
7. Public Notification. Staff mailed notices to 15 adjacent property owners regarding this
request. Notice was published in the Fort Worth Star-Telegram as required by state law
and the Land Development Code. No correspondence has been received regarding this
request.
Agenda Briefing
Ordinance 0-05-1525
Page 3 of 3
Planning and Zoning Commission Recommendation. The Planning and Zoning
Commission considered this rezoning request on April 11, 2005, and recommended approval
(5-0).
Recommendation
Approval
Attachments
· Comparison of Existing and Proposed Zoning District Regulations
· Zoning and Location Map
· Information and Drawings from Applicant
· Ordinance 0-05-1525
Comparison of Existing and Proposed Zoning District Regulations
REGULATIONS EXISTING AG EXISTING R30 PROPOSED R40
Maximum Density 0.3 DU/AC 1.5 DU/AC 1.25 DU/AC
Minimum Lot Area 130,680 SF 30,000 SF 40,000 SF
Minimum Lot Width 200 FT 125 FT 150 FT
Minimum Lot Depth 300 FT 125 FT 150 FT
Minimum Front 40 FT 35 FT 40 FT
Yard Setback
Minimum Rear Yard 40 FT 25 FT 25 FT
Setback
Minimum Side Yard 25 FT 10 FT 15 FT
Setback
Maximum Lot 20% 25% 20%
Coverage
Maximum Number 2.5 2.5 2.5
of Stories
Maximum Building 35 FT 35 FT 35 FT
Height
Zoning and Location Map
D
NORTH
Information and Drawings from Applicant
,////
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ORDINANCE NO. 0-05-1525
AN ORDINANCE OF THE CITY OF COLLEYVILLE, TEXAS, AMENDING THE
COMPREHENSIVE ZONING ORDINANCE OF THE CITY OF COLLEYVILLE,
TEXAS, AS HERETOFORE AMENDED; BY AMENDING THE OFFICIAL
ZONING MAP AND CHANGING THE ZONING ON 2.55 ACRES LOCATED AT
6112 AND 6115 HUNTER LANE, FROM THE AG-AGRICULTURAL DISTRICT
AND R30 SINGLE FAMILY RESIDENTIAL DISTRICT TO THE R40 SINGLE
FAMILY RESIDENTIAL DISTRICT; PROVIDING A SAVINGS CLAUSE;
PROVIDING FOR INJUNCTIVE RELIEF; PROVIDING A SEVERABILITY
CLAUSE; PROVIDING FOR A PENALTY OF FINE NOT TO EXCEED TWO
THOUSAND DOLLARS ($2,000.00); AND PROVIDING AN EFFECTIVE DATE
WHEREAS, an application for a zoning change was filed by C.L. Madden on March 17,
2005, under Case No. Z-05-011 ; and
WHEREAS, the City of Colleyville deems it necessary, for the purpose of promoting the
health, safety, morals, or general welfare of the City to enact a new zoning
ordinance; and
WHEREAS, the City Council has appointed a Planning and Zoning Commission to
recommend the boundaries of the various original zoning districts and
appropriate regulations be enforced therein and to recommend a new
zoning ordinance; and
WHEREAS, the Planning and Zoning Commission has divided the City into districts
and has prepared regulations pertaining to such districts in accordance
with a comprehensive plan and designed to lessen congestion in the
streets; to secure safety from fire, panic, and other dangers; to promote
health, general welfare; to provide adequate light and air; to prevent the
overcrowding of land; to avoid undue concentration of population; to
facilitate the adequate provision of transportation, water, sewerage,
schools, parks, and other public requirements; and
WHEREAS, the Planning and Zoning Commission, has given reasonable consideration,
among other things, the character of the districts and their peculiar
suitability for particular uses, with a view to conserving the value of
buildings and encouraging the most appropriate use of land throughout
the City; and
WHEREAS, the Planning and Zoning Commission of the City of Colleyville and the City
of Colleyville City Council, in compliance with the Charter of the City of
Colleyville, and State Law with reference to changes to zoning
classifications under the Zoning Ordinance Regulations and Zoning Map,
having given the requisite notices by publication and otherwise, and after
holding due hearings and affording a full and fair hearing to all the
property owners generally, and to the persons interested and situated in
Ordinance 0-05-1525
Page 2 of 3
the affected area and in the vicinity thereof, the governing body of the City
of Colleyville is of the opinion that said change in zoning should be made.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
COLLEYVILLE, TEXAS:
Sec. 1.
Sec. 2.
Sec. 3.
Sec. 4.
Sec. 5.
Sec. 6.
Sec. 7.
THAT all the foregoing premises and findings are found to be true
and correct and are incorporated into the body of this ordinance as if
copied in their entirety.
THAT the Comprehensive Zoning Ordinance of the City of
Colleyville, Texas, be, and the same is hereby amended by changing
the zoning of said property from the AG-Agricultural district and R30
Single Family Residential district to the R40 Single Family
Residential district, as depicted in the attached Exhibit "A" and as
described on attached Exhibit "B".
THAT the above described tract of land shall be used only in the
manner and for the purposes provided by the Comprehensive Zoning
Ordinance of the City of Colleyville as heretofore amended, and as
amended herein.
THAT any person, firm or corporation violating any of the provisions
or terms of this ordinance shall be subject to the same penalty as
provided for in the Comprehensive Zoning Ordinance of the City of
Colleyville, and upon conviction shall be punishable by a fine not to
exceed the sum of Two Thousand Dollars ($2,000.00) for each
offense.
THAT if any section, paragraph, subdivision, clause, phrase or
provision of this ordinance shall be judged invalid or unconstitutional,
the same shall not affect the validity of this ordinance as a whole or
any portion thereof other than that portion so decided to be invalid or
unconstitutional.
THAT in addition to and accumulative of all other penalties, the City
shall have the right to seek injunctive relief for any and all violations
of this ordinance.
THAT it has been found that there has been a change in conditions
in the above described property, it is now necessary that it be given
the above zoning classification in order to permit its proper
development and in order to protect the public interest, comfort and
general welfare, and requires that this ordinance shall take effect
immediately from and after its passage.
Ordinance 0-05-1525
Page 3 of 3
AND IT IS SO ORDERED.
The first reading and public hearing being conducted on the
2005.
day of
The second reading and public hearing being conducted on the
2005.
day of
ATTEST:
CITY OF COLLEYVILLE
Cynthia Singleton, TRMC
City Secretary
Joe Hocutt
Mayor
APPROVED AS TO FORM AND LEGALITY:
Matthew C. G. Boyle
City Attorney
EXHIBIT A - ZONING MAP
EXHIBIT B - METES AND BOUNDS DESCRIPTION
PROPOSED LOT 2R 1
PROPOSED R-40 ZONING:
The following described tract or parcel of land being a portion of Lot 2R, Block 1, Davis
Place, an addition to the City of Colleyville, Tarrant County, Texas, according to the
revised plat recorded in Cabinet A, Slide 2786, Plat Records, Tarrant County, Texas,
and being more particularly described as follows:
BEGINNING at the southwest corner of said Lot 2R, and being the northwest corner of
Lot 3, said Block of said Davis Place and being in the east line of Hunter Lane;
THENCE North 0 degrees 02 minutes 50 seconds East, with said east line of Hunter
Lane, a distance of 13.32 feet to a point on a non-tangent curve to the left having a
radius of 50 feet, a delta angle of 132 degrees 32 minutes 33 seconds, the long chord of
which bears North 06 degrees 13 minutes 26 seconds West, a distance of 91.55 feet,
said point being on the proposed right-of-way line of Hunter Lane;
THENCE with proposed right-of-way line of Hunter Lane along said curve, a distance of
115.67 feet to a point in said east right-of-way line;
THENCE North 0 degrees 02 minutes 50 seconds East, with said east right-of-way line,
a distance of 40.33 feet to a point for corner;
THENCE North 47 degrees 36 minutes 14 seconds East, a distance of 29.84 feet to
point for corner;
THENCE South 89 degrees 36 minutes 46 seconds East, a distance of 504.12 feet to a
point for corner;
THENSE South 0 degrees 00 minutes 14 seconds West, a distance of 105.00 feet to a
point for corner;
THENCE North 89 degrees 34 minutes 46 seconds West, a distance of 210.00 feet to
an ell corner of said Lot 2R.
THENCE South 0 degrees 01 minutes 40 seconds East, a distance of 59.80 feet to a
point for corner;
THENCE North 89 degrees 37 minutes 50 seconds West, along the north line of said
Lot 3, a distance of 306.30 feet to the POINT OF BEGINNING.
EXHIBIT B - METES AND BOUNDS DESCRIPTION
PROPOSED LOT 1 R2
PROPOSED R-40 ZONING:
The following described tract or parcel of land being a portion of Lot 1-R, Block 1,
Jennings Estates, an addition to the City of Colleyville, Tarrant County, Texas according
to the plat recorded in Cabinet A, Slide 6544, Plat Records, Tarrant County, Texas, and
being more particularly described as follows:
BEGINNING at the northeast corner of said Lot 1-R, said point being in the
southeasterly right-of-way line of the Fort Worth and Western Railroad;
THENCE South 0 degrees 02 minutes 50 seconds West, along the west line of Lot 1,
Block 1, Davis Place, as recorded in Volume 388-209, page 96 of said Plat Records, at
351.33 feet passing the southwest corner of said Lot 1 and the northwest corner of Lot
2R, Block 1, as recorded in Cabinet A, Slide 2786 of said Plat Records, continuing a
total distance of 391.58 feet to a point on a non-tangent curve to the left having a radius
of 50 feet, a delta angle of 67 degrees 08 minutes 57 seconds, the long chord of which
bears South 73 degrees 55 minutes 49 seconds West a distance of 55.30 feet, said
point being on the proposed right-of-way line of Hunter Lane;
THENCE with proposed right-of-way line of Hunter Lane along said curve a distance of
58.60 feet to a point;
THENCE North 65 degrees 52 minutes 19 seconds West, departing said proposed
right-of-way line a distance of 59.02 feet to a point;
THENCE North 04 degrees 34 minutes 22 seconds West, a distance of 266.36 feet to a
point in said southeasterly railroad right-of-way.
THENCE North 47 degrees 38 minutes 04 seconds East, along said railroad right-of-
way line, a distance of 174.00 feet to the POINT OF BEGINNING.
CITY COUNCIL
cce0 AGENDA BRIEFING
;(":'(<\$
MEETING DATE: 1
ITEM#: '
RESOLUTION #: !
05/03/05
8
R-05-2540
CITY MANAGER I
DEPARTMENT HEAD I
FINANCE REVIEW I
Previous Action: None
DEPARTMENT: COMMUNITY DEVELOPMENT
SUBJECT: Approval of a Preliminary Plat on 24.108 acres, out
of the William Dunn Survey, Abstract 404, located at
6805 Pleasant Run Road, Case P-05-011
Reading and Public Hearing
Stonebridge Development is the potential developer of a 24.1-acre parcel of property located
on the east side of Pleasant Run Road, south of John McCain Road. The developer has
submitted a preliminary plat to divide the property into 32 lots for the construction of twenty-
nine new single-family residences and three open space lots.
Zoning. A zoning application (Ordinance 05-1523) is being considered concurrently on the
City Council agenda with this plat application in order to ensure the proposed lot configuration.
The applicant submitted the preliminary plat concurrently with the rezoning request in order to
assure the City and the citizens of Colleyville that the proposed lot configuration will be
developed accordingly. The applicant is proposing to rezone the property from AG-Agricultural
to R40 and R20 Single Family Residential zoning designations. Eight lots will be zoned R40
and 21 lots will be zoned R20. The proposed lots meet the dimensional standards for the
applicable zoning district.
Gated Development. The developer proposes a private gated community. On March 28,
2005, the Planning and Zoning Commission recommended approval of the plat with the
condition that the subdivision not be gated. The Commission indicated the gated community
would limit accessibility in the area and would add to the amount of traffic along the Pleasant
Run Road and John McCain Road intersection. By denying the gated access provision, the
Commission attempted to provide an alternative means of ingress and egress for residents in
the Warwick Parc subdivision, thereby providing greater connectivity throughout the area and
alleviating additional traffic at the intersection. The preliminary plat indicates the entrance to
the subdivision will be along Pleasant Run Road, with the street, Fegans Path, continuing
through the development to a proposed street connection with the Warwick Parc subdivision,
which is currently under development to the east of the site. An emergency access gate will
separate the two subdivisions.
Chapter 10 of the Land Development Code contains requirements for the development of
private gated communities. This subdivision meets the 25 lot minimum residential lot
requirement as mandated by the Land Development Code. The street within the subdivision
shall become a private lot owned by the homeowners association, which is responsible for
maintenance of the street. The gates would be operated by an automatic opening system.
Agenda Briefing
Resolution R-05-2540
Page 2 of 3
Open Space. No open space is required for the R40 and R20 districts; however this project
provides three open space lots. The primary open space lot will be centrally located within the
neighborhood, Lot 16, Block 1, and will contain a detention pond. The other two open space
lots will extend from John McCain Road to the southern boundary of the property and will
contain the 10-foot required trail.
There is an existing log cabin situated on one of the open space lots. Staff and the developer
are in the process of drafting a City-Developer Agreement regarding ownership, transport, and
maintenance of the log cabin. A notation on the plat exhibit indicates that all structures will be
removed prior to development.
Right-of-Way Dedication. Pleasant Run Road is classified as a Minor Arterial roadway on
the Master Thoroughfare Plan, which requires an ultimate right-of-way width of 75 feet. The
developer is dedicating approximately 50 feet of additional right-of-way along Pleasant Run
Road in order to provide the required right-of-way dedication.
Perimeter Street Improvement Requirements. Perimeter street improvements are required
for this property since Pleasant Run Road and John McCain Road are considered unimproved
streets and the plat contains more than one residential lot. The owner is required to construct
one-half of the streets adjacent to this property, or provide an equivalent amount of cash
escrow for future improvement by the City.
Sidewalks and Trails. The Land Development Code requires a 10-foot wide trail along
Pleasant Run Road, and sidewalks along John McCain Road and all interior streets. The
internal sidewalks must be installed when a new residence is constructed on the property. The
internal sidewalks must be at least 4-feet wide. The sidewalk along John McCain Road is
required to be 5-feet wide, and the developer is required to construct the sidewalk as part of
the public improvements for this property.
The Colleyville Pathways Plan requires a trail adjacent to Pleasant Run. However, staff has
been working with the developer to locate the 10-foot wide trail within Lot 17, Block 1 and Lot
15, Block 2, which are designated as public access easements and trail areas. The lots are
located on the eastern border of the property, adjacent to Warwick Parc, and will provide better
pedestrian circulation than the route adjacent to Pleasant Run Road. Placement of the trail
within these lots will provide a trail connection from John McCain Road to the City of Colleyville
soccer fields, located to the south of the proposed development. The transition of the
subdivision to a private gated community will not disrupt or disconnect the proposed 10-foot
wide trail.
Impact Fees. Water, sewer and roadway impact fees are due at the time a building permit is
issued for a new structure on a newly platted lot. The fees listed below are intended to provide
general information on the fees that could be assessed for this project. The actual fee paid
may be different depending upon the specific plans for construction or other arrangements
provided for by a City-Developer Agreement.
Agenda Briefing
Resolution R-05-2540
Page 3 of 3
ROADWAY
$1,589 per dwelling unit for SINGLE FAMILY RESIDENTIAL uses. Details are
available in Chapter 13 of the Land Development Code.
$2,666 for a 1-inch meter. Actual fee depends on water meter size and/or if a
new meter is installed.
$200 for a 1-inch meter. Actual fee depends on water meter size and/or if a
new meter is installed.
WATER
SEWER
Parkland Dedication Fees. Parkland dedication fees are due at the time of approval of the
final plat. The fee for residential uses is $1,802 per residential lot. This fee must be paid
before the plat is recorded with the County Clerks Office.
Planning and Zoning Commission Recommendation. The Planning and Zoning
Commission considered this request at the March 28, 2005 meeting. The Planning and Zoning
Commission recommended approval with the condition that the subdivision not be gated (5-2).
Recommendation
Approval
Attachments
· Zoning and Location Map
· Plat
· Resolution R-05-2540
Zoning and Location Map
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STONEBRIDGE PARe
BElNG U.:I"AatES
ot'T Ol! TuV
WILLIAM DUNN SURVEY,
ABSTRA(;T No. 404,
8IWATlDlN.TREarfavau.t.I'fVIU.I. TAUANTamNn~ 'tUA.S
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RESOLUTION R-05-2540
A RESOLUTION APPROVING THE PRELIMINARY PLAT OF STONEBRIDGE
PARC ADDITION
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
COLLEYVILLE, TEXAS:
Sec. 1.
THAT the preliminary plat of Stonebridge Parc Addition is hereby approved.
AND IT IS SO RESOLVED.
PASSED BY A VOTE OF
THIS THE DAY OF
AYES,
NAYS AND
2005.
ABSTENTIONS ON
ATTEST:
CITY OF COLLEYVILLE
Cynthia Singleton, TRMC
City Secretary
Joe Hocutt
Mayor
CITY COUNCIL
CCe<1l AGENDA BRIEFING
1(":<,,50
MEETING DATE:
ITEM#:
RESOLUTION #:
05/03/05
9
R-05-2541
CITY MANAGER ;
DEPARTMENT HEAD:
FINANCE REVIEW I
Previous Action: None
DEPARTMENT: ECONOMIC DEVELOPMENT
SUBJECT: Approval of three Retail Development Agreements
by and between the City of Colleyville and Melvin &
Martindale II, Ltd.
Reading and Public Hearing
Staff has discussed with Melvin & Martindale II, Ltd., to develop an Incentive Agreement
whereby Melvin & Martindale II, Ltd., will construct, or cause to be constructed, Phase II
of Colleyville Town Center on approximately 11.8 acres of property at the southeast
corner of Hall Johnson Road and SH26. The project includes two anchor tenants. The
developer has advised that the anchor tenant leases have co-tenancy clauses requiring
certain performance from each other. The project is dependent on the City of Colleyville
providing certain incentives to the developer and to each of the tenants. The developer
has advised that the project would not go forward without the incentive agreement. The
three agreements are attached as Exhibits "B", "C" and "0".
Financial Impact
The incentive will be generated by new revenue in Phase II and incremental revenue in
Phase I. The total incentive requested over the term of the agreement is estimated to
be $1,226,890. The sales tax and business personal tax revenue projected over the
term of the agreement from Phase II is $1,850,360.
Exhibit "B" - This Incentive Agreement requires that the City provide a sales tax
incentive of the general fund sales tax (1 % of sales) reported and paid by "Tenant B"
during the first two years of operation. This amount is projected to be approximately
$50,140 in Year 1 and $51,750 in Year 2.
Exhibit "C" - This Incentive Agreement requires that the City provide an incentive to
"Tenant e" of $62,500 per year for a period of ten years, derived from a combination of
general fund sales tax (1 % of sales) and associated business personal tax revenue
projected over the term from Phase II and incremental revenue from Phase I.
Exhibit "D" - This Incentive Agreement requires that the City provide an incentive to
Melvin & Martindale II, Ltd., of $50,000 per year for a period of ten years, derived from a
combination of general fund sales tax (1 % of sales) and associated business personal
Agenda Briefing
Resolution R-05-2541
Page 2 of 2
tax revenue projected over the term from Phase II and incremental revenue from Phase
I. The incentive allocated to Melvin and Martindale II, Ltd., is for related finish out costs
associated with "Tenant e".
The incentive will not impact current City revenues generated from business within the
Colleyville Town Center. Prior to construction of Phase II, a baseline will be established
of the sales tax and business personal property tax currently collected in an area
bounded by SH26, Hall Johnson Road, Riverwalk and Church Street. The combined
agreements in Exhibit "C" and Exhibit "D" will be capped at the incremental general fund
sales tax revenue and the business personal property tax revenue produced after
construction of Phase II. The time frame of the agreement may be extended to provide
the intended total dollar amount of the incentive in the event that Phase II falls short of
revenue projections in any given year.
Public announcement of Tenant B and Tenant C is pending final negotiations with the
developer. Upon execution of final leasing documents, the incentive agreements for
Tenant B and Tenant C will be assigned by the developer. In conjunction with Phase II,
the developer anticipates constructing new retail space as a part of Colleyville Town
Center (Phase II). Pending final negotiations between the developer and Tenant Band
C, construction of the additional retail space is expected to be completed in December
2006.
Recommendation
Approval. Both the adopting resolution and the incentive agreement have been
reviewed and approved by the City Attorney.
Attachments
. Resolution R-05-2541
. Exhibit "A" - Tax Abatement Policy, Application and Site Plan
. Exhibit "B" - Retail Development Agreement for Tenant "B"
. Exhibit "C" - Retail Development Agreement for Tenant "C"
. Exhibit "D" - Retail Development Agreement for Melvin and Martindale II, Ltd.
RESOLUTION R-05-2541
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLLEYVILLE, TEXAS,
APPROVING THREE RETAIL DEVELOPMENT AGREEMENTS BY AND BETWEEN
THE CITY OF COLLEYVILLE, TEXAS, AND MELVIN & MARTINDALE II, LTD.;
PROVIDING A SEVERABILITY CLAUSE AND DECLARING AN EFFECTIVE DATE
WHEREAS, the City is authorized by Chapter 380 of the Texas Local Government
Code to provide economic development incentives to support the
expansion of local business activity, employment and development; and
WHEREAS, the City has approved a policy on local economic development and
business incentives pursuant to Chapter 380 of the Texas Local
Government Code (the "Policy"); and
WHEREAS, Melvin & Martindale II, Ltd., a Texas Limited Partnership authorized to do
business in the State of Texas ("M&M"), has applied for the Incentives in
accordance with the Policy (the "Policy") and Application which includes a
Site Plan, as shown on the attached Exhibit "A", which exhibit is
incorporated herein by reference (the "Application"); and
WHEREAS, the City desires to enter into Retail Development Agreements (the
"Agreements") with M&M to provide for incentives to promote economic
development in accordance with the Application, which Agreement is
shown on the attached Exhibits "B", "C", and "D", which exhibits are
incorporated herein by reference; and
WHEREAS, the Economic Development Manager has reviewed the Application and
Agreements and has determined that both are in conformance with the
Policy, with the exception of Section 2.0, in Exhibits "B", "C" and "D"; and
WHEREAS, the Agreement and the incentives provided for therein are authorized by,
and in accordance with, the Policy and Chapter 380 of the Texas Local
Government Code; and
WHEREAS, the enhancement of the local economy is in the best interest of citizens of
the City; and
WHEREAS, the economic development incentives provided in the Agreement
encourage businesses and companies to locate or expand operations in
the City and will enhance the local economy of the City, and as such, are
in the best interests of the public.
Resolution R-05-2541
Page 2 of 2
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
COLLEYVILLE, TEXAS:
Sec. 1.
Sec. 2.
Sec. 3.
Sec. 4.
THAT all matters set forth hereinabove are found to be true and correct,
are incorporated herein by reference, and are adopted by the City.
THAT the City hereby approves the Agreements.
THAT it is hereby declared to be the intention of the City, that
sections, paragraphs, clauses, and phrases of this Resolution are
severable, and if any phrase, clause, sentence or section of this
Resolution shall be declared unconstitutional or illegal by the valid
judgment or decree of any court of competent jurisdiction, such
unconstitionality or illegality shall not affect any of the remaining
phrases, clauses, sentences, paragraphs or sections of this
Resolution since the same would have been enacted by the City
without the incorporation in this Resolution of any such
unconstitutional or illegal phrase, clause, sentence, paragraph or
section.
THAT this Resolution shall be in full force and effect from and after
the date of its passage.
DAY
NAYS AND
2005, BY A
ABSTENTIONS.
APPROVED ON THIS THE
VOTE OF AYES,
ATTEST:
Cynthia Singleton
City Secretary
CITY OF COLLEYVILLE
Joe Hocutt
Mayor
EXHIBIT "A"
EXHIBIT "An
CITY OF COLLEYVILLE
POLICY STATEMENT FOR DEVELOPMENT INCENTIVES
GENERAL PURPOSE AND OBJECTIVES
The City of Colleyville Economic Development Department is charged with
expanding the City's taxable base. In keeping with this overall mission, the City
has implemented a three point strategy in order to accomplish this important
revenue generating task:
. To identify and assist retail developers to commit, invest and build new
high quality sales tax generating projects in Colleyville;
. To assist landowners in the sale and development of potential retail, office
and hotel sites to their highest and best use; and
. To recruit new, and retain existing, Colleyville retailers, restaurants and
other sales tax generating businesses compatible with Colleyville's
available land, land use plan and demographics.
To achieve this goal, the City wishes to enhance its economic development
efforts by developing an incentive policy to promote retention and expansion of
existing industry and to attract new retail businesses.
Within the context of these goals, the City of Colleyville will give consideration to
providing reasonable incentives as a stimulus for new development and
redevelopment on a case-by-case basis. Nothing herein implies or suggests that
the City of Colleyville is under any obligation to provide any incentive to any
applicant.
ENABLING LEGISLATION TO PROVIDE INCENTIVES
According to the Property Redevelopment and Tax Abatement Act 9 312.204 of
the Texas Tax Code, the governing body of a municipality eligible to enter into
tax abatement agreements under Section 312.002 may agree in writing with the
owner of taxable real property that is located in a reinvestment zone, but that is
not in an improvement project financed by tax increment bonds, to exempt from
taxation a portion of the value of the real property or of tangible personal property
located on the real property, or both, for a period not to exceed 10 years, subject
to the rights of holders of outstanding bonds of the municipality, on the condition
that the owner of the property make specific improvements or repairs to the
property.
Under 9 380.002 (b) of the Texas Local Government Code, a home-rule
municipality may, under a contract with a development corporation created by the
municipality under the Development Corporation Act of 1979 (Article 5190.6,
Vernon's Texas Civil Statutes), grant public money to the corporation. The
development corporation shall use the grant money for the development and
diversification of the economy of the state, elimination of unemployment or
underemployment in the state, and development and expansion of commerce in
the state. The funds granted by the municipality under this section shall be
derived from any source lawfully available to the municipality under its charter or
other law, other than from the proceeds of bonds or other obligations of the
municipality payable from ad valorem taxes.
Under 9 378.004 of the Texas Local Government Code a municipality may create
a neighborhood empowerment zone covering a part of the municipality if the
municipality determines the creation of the zone would promote an increase in
economic development in the zone. In addition to other powers that a
municipality may exercise, a municipality may:
(1) Waive or adopt fees related to the construction of buildings in the zone,
including fees related to the inspection of buildings and impact fees;
(2) Enter into agreements, for a period of not more than 10 years, for the
purpose of benefiting the zone, for refunds of municipal sales tax on sales made
in the zone;
(3) Enter into agreements abating municipal property taxes on property in the
zone subject to the duration limits of Section 312.204, Tax Code; and
(4) Set baseline performance standards, such as the Energy Star Program as
developed by the Department of Energy, to encourage the use of alternative
building materials that address concerns relating to the environment or to the
building costs, maintenance, or energy consumption.
NON TAX INCENTIVES
The City of Colleyville may elect to reduce development fees or other fees or to
participate in infrastructure costs of a development. The permitting and inspection
process of all approved developments and expansions will be expedited for all
businesses.
REVIEW CRITERIA
Any consideration for incentives shall be reviewed by the Colleyville City Council.
The review process is considered on the "Value Added" elements of the project.
A sales tax rebate applies only to new construction activities, whether a new
facility or expansion of an existing building.
VALUE OF NEW CONSTRUCTION INCENTIVES
The subjective criteria for applicants' project outlined under Review Criteria will
be used by the City Council in determining whether or not it is in the best interest
of the City to recommend that a sales tax rebate be offered to a particular
applicant planning to construct a new facility. Specific considerations will include
the degree to which the individual project furthers the goals and objectives of
community, as well as the relative impact of the project.
After it has been determined that a sales tax rebate be offered, the approximate
value of that incentive can be calculated from the following table. However, this
table should only be used as a guide for incentives, since each project is
evaluated individually.
~alueofProjectiTerm of Rebate
f$50,OOO~OOO
:$35,000,000
:$20,000,000
10,000,000
5,000,000
o years
:9 years
years
15 years
years
% of Rebate
50%
50%
50%
50%
30%
EXPANSION OR REDEVELOPMENT OF EXISTING FACILITIES
A sales tax rebate will only be considered for the increase in valuation above the
existing valuation of that property. This reduction will be a maximum of ten years.
The amount and terms to be determined by factors such as: costs to the City,
project's increased valuation to the tax base, new jobs and business expansion
to the City as a result of the proposed project. Minimum standards proposed for
an expansion project are:
. Expansion or modernization increases the valuation of existing facility by a
minimum of 30%,
. 5-Year lease, and not occupied by the owner.
. Compliance with all applicable zoning requirements.
REINVESTMENT ON STATE HIGHWAY 26
For expansion or modernization of existing sites or facilities on Highway 26
Colleyville Blvd., a sales tax rebate will be considered only for the increase in
collection resulting from the reinvestment, and for a maximum of 5 years. Special
consideration may be given to those sites or facilities impacted by the
reconstruction of State Highway 26 Colleyville Blvd. The amount and terms of the
reduction will be determined on a "case by case" basis, considering factors such
as age of the facility or site, the value of the reinvestment as a percentage of the
previous year's assessed value, and the potential impact of the reinvestment
project on the surrounding neighborhood.
RESTAURANT I RETAIL I OFFICE INCENTIVES
Colleyville specifically targets sit-down restaurants, certain retailers and office
campus projects. As an incentive for new investment, a refund of a portion of the
added sales and liquor tax may be considered. Incentives are designed to
stimulate the development of restaurants and offices in accordance with the
following prescribed design and size:
. Minimum of 5,000 square feet of floor space;
. No drive-thru windows or service;
. Maximum incentive length of five years;
. Maximum sales tax rebate of 30 percent;
. Must meet all zoning and other City requirements.
RECAPTURE
In the event a business receiving incentives from the City of Colleyville fails to
perform under the agreement executed between the City and the business, the
incentive obligation on the part of the City will be void. Any incentive paid to the
business up to the point of failure shall be returned to the City of Colleyville in full.
APPLICATION STEPS
The applicant should present a formal request for incentives to include the
following:
. Cover letter and executive summary describing the project and the
request;
. Plat showing the precise location of the property, all roadways within 500
feet of the site and all existing zoning and uses within 500 feet of the site;
. A complete legal description of the property;
. A financial analysis detailing best-case, worst case and probable case
scenarios.
...<.-..-----r-----'~-".-.~....~~.~'---'--,.-
MELVIN & MARTINDALE II, LTD.
Tel: (970) 387-1000
13642 Omega, Dallas, Texas 75244
Fax: (972) 385-8747
April 29, 2005
City of Colleyville
Economic Development Manager
100 Main Street
Colleyville, Texas 76034
Re: Application for Economic Development Incentives
Dear Mr. Welmaker:
This letter constitutes an application for financial incentives from the City of Colleyville.
In support of this application, we are furnishing the following information and supporting
documentation:
1. The property owner: Melvin & Martindale, Ltd., a Texas limited partnership
("M&M")
2. The owner's mailing address: 13642 Omega, Dallas, Texas 75244
3. The owner's telephone number: (972) 387-1000
4. The owner's representative: Charles M. Hodges
5. Representative's email address:chodges@hodgesusa.com
6. Representative's mailing address: 13642 Omega, Dallas, Texas 75244
7. Property Address: 5701 Colleyville Blvd Colleyville, Texas 76034
8. Property Legal Description: Approximately 11.8 acres, Town Center Colleyville
(See metes and bounds description attached hereto)
9. Located in Grapevine-Colleyville ISD
10. Description of Project: approximately 70,000 square feet of retail, entertainment,
restaurant and/or office space that is heated, ventilated
and air conditioned as set forth on the Site Plan attached
hereto
11. Date projected for Project occupation/initiation of operations: December 1, 2006
I
12. Response to criteria in Section 2 of the City of Colleyville Economic
Development Incentive Policy:
Employment Impact
. Employ up to 10 full time and 5 part time positions
Fiscal Impact
. Total real and personal property value to be added to the tax rolls.
o The existing properties in Phase I are valued by TAD at an average of
$74 per square foot for real property and $53 per square foot for
personal property. Phase II is expected to add 95,500 square feet.
· Real property value 95,500 square feet @ $74 = $7,067,000
· BPP 95,500 @ $53 = $5,061,500
. Anticipated direct sales tax generated at one percent (1 %) of taxable sales;
o Over the ten year term of the agreement, the sales tax estimated to be
generated by Phase II will be $1,746,140
. Other revenues generated for the city: franchise payments, occupancy taxes,
utility revenues, etc;
o Based on 95,500 square feet of new construction at a cost of $75 per
square foot, approximately $143,750 in impact, permit, tap, parkland
and plan review fees would be generated.
. City infrastructure construction required;
o No City participation in infrastructure construction IS requested for
Phase II
. Proj ected total annual operating budget of the facility.
o The annual operating budget of the projected facilities should not impact
the decision to provide incentives to these two anchor tenants.
Community Impact
. The expected effect the project have on the local housing market;
o The project is not expected to have any direct impact on the Colleyville
housing market.
. The expected environmental impact, if any, created by the project;
o The project is not expected to generate any negative environmental
impact.
. The compatibility of the project with the City's comprehensive plan.
o The project is compatible with the City's comprehensive plan.
Competitive Impact
. The effect the project would have on existing businesses in Colleyville;
o The project is expected to generate significant additional retail traffic to
Colleyville resulting in a positive impact on existing Colleyville
businesses.
. A list of the types of products or services to be sold by the applicant which are
currently sold by existing Colleyville merchants;
2
o While a limited selection of books are available at grocery and drug
stores in Colleyville, the competitive impact on these businesses of a full
service bookstore is expected to be negligible.
o There is currently no direct competitor to a motion picture theater in
Colleyville.
. A list of specific businesses seen as direct competitors to the applicant.
o There are no direct competitors to these to anchor tenants in Colleyville.
We propose that the requested incentives be established pursuant to three
agreements in the forms attached hereto, viz., M&M Retail Development
Agreement, Tenant B Retail Development Agreement and Tenant C Retail
Development Agreement.
We appreciate your consideration of this application. Please advise if further
information is needed.
MELVIN & MARTINDALE II, LTD.
By: R. M. Farrell, Inc., general partner
By:
Robert M. Farrell, President
3
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EXHIBIT "B"
EXHIBIT "B"
RETAIL DEVELOPMENT AGREEMENT
This Agreement (the "Agreement") is entered into as of the by and
between The City of Colleyville, Texas, a municipal corporation (the "City"), and
Melvin & Martindale II, Ltd., a Texas Limited Partnership ("Tenant B").
RECITALS:
WHEREAS Melvin & Martindale II, Ltd., a Texas Limited Partnership ("M&M)
owns approximately 11.8 acres of property as more particularly described in
Exhibit "A" (the "Colleyville Town Center Parcel") on which M&M plans to
construct or cause to be constructed at least 70,000 square feet of retail,
entertainment, restaurant and/or office space that is heated, ventilated and air
conditioned as set forth on the Site Plan described in Exhibit "A" (or such other
square footage that is the tax generating equivalent thereof based upon the
"Fiscal Impact" section of M&M Application for Economic Development Incentives
dated April _' 2005) (herein collectively referred to as the "Retail Space"); and
WHEREAS, M&M has requested that the City authorize and pay certain cash
incentives and grants as provided herein (collectively referred to as the
"Incentives") with respect to a portion of the Retail Space which is to be
constructed for one of the tenants (hereinafter called "Tenant B"), as hereinafter
more particularly described; and
WHEREAS, for the public purpose of promoting economic development and
diversity, increasing employment, reducing unemployment and
underemployment, expanding commerce and stimulating business and
commercial activity in the State of Texas, Tarrant County and the City, the City
desires to offer the Incentives and grants to Tenant B as more particularly
described in this Agreement; and
WHEREAS, M&M has applied for the Incentives in accordance with the City's
Policy Statement for Development Incentives (the "Policy"); and
WHEREAS, the Agreement and Incentives are authorized by, and in accordance
with, the Policy and Chapter 380 of the Texas Local Government Code.
NOW, THEREFORE, for and in consideration of the promises, covenants and
agreements set forth herein, the receipt and sufficiency of which are hereby
acknowledged, the City and M&M agree as follows:
Project Subject to this Agreement. M&M plans to construct or cause to be
constructed, as a part of the overall Retail Space, an approximately 23,000
square foot facility for Tenant B (or such other square footage that is the tax-
1
generating equivalent thereof) that is heated, ventilated and air conditioned,
substantially as set forth on the Site Plan described in Exhibit "A" (the liT enant B
Space"), which may be modified from time to time as approved by the City, such
approval not to be unreasonably withheld, and on the land that is described in
Exhibit "A", which is attached hereto and incorporated herein for all purposes.
1. Grant to Tenant B. Subject to the terms and conditions of this
Agreement, the City desires to grant to Tenant B the one percent (1 %)
sales tax paid to the City's General Fund for two years. To qualify for the
Grant, Tenant B must:
a. Obtain a certificate of occupancy for the Tenant B Space and be
open to the public and begin taxable sales by December 1,
2006 (subject to delays in completion of construction of the
Tenant B Space due to material shortages, weather, acts of
God, labor disputes or other causes beyond the reasonable
control of Tenant B or M&M); and
b. Operate the Tenant B Space, or cause the Tenant B Space to
be operated, for a period of no less than two continuous years
(subject to interruption due to damage or casualty, as
hereinafter provided).
c. The City shall have the right to terminate this Agreement if
Tenant B fails to occupy the Tenant B Space by the deadline
specified in Paragraph 1 (a), by giving written notice thereof to
M&M and Tenant B at any time prior to such occupancy. If this
Agreement is not terminated pursuant to the foregoing
sentence, this Agreement may not be terminated after
occupancy of the Tenant B Space for failure of Tenant B to
meet any of the qualifications for the Tax Grant unless Tenant B
fails to cause the failure to be cured within sixty days following
receipt of written notice from the City of such failure, and
provided that if the failure is due to damage or casualty to the
Tenant B Space, Tenant B shall have up to eighteen (18)
months following the damage or casualty to cause the Tenant B
Space to be restored and reopened before the City shall have
the right to terminate this Agreement, provided Tenant B causes
restoration to be commenced within a reasonable time and
completed with all due diligence. Notwithstanding anything in
this Agreement to the contrary, the sole remedy of the City with
respect to any failure of Tenant B to meet any conditions of the
Grant shall be termination of this Agreement in accordance with
and subject to the foregoing.
2
d. Term of the Sales Tax Incentive Grant. Subject to the terms and
conditions of this Agreement, the sales tax incentive Grant is
available for a period of two (2) years beginning on the date the
Retail space receives a certificate of occupancy, opens for
business and begins taxable sales, provided that unless
terminated in accordance with its express terms, this Agreement
shall not end before the sales tax incentive Grant is fully paid
with respect to twenty-four months during which sales
operations are conducted in the Tenant B Space (the "Term").
e. Payment of Grant. The City will pay the sales tax incentive Grant
to Tenant B on an annual basis beginning one year from the
date of the first reported sale and continuing thereafter until the
Term ends. If the qualifications for the Sales Tax Incentive are
not met for part of any year, the payment shall be based on the
actual sales during the portion of the year during which the
qualifications were met.
f. Calculation of Sales Tax Incentive Grant. The parties agree that
the dollar amount of retail sales eligible for the Sales Tax
Incentive payable to Tenant B will be derived from sales and
sales tax information furnished by Tenant B and verified by the
Comptroller's Office of the State of Texas or any successor
agency charged with collecting such information and preparing
such reports.
g. Tenant B will provide to the City annually all documents
necessary for the City to calculate the sales tax incentive Grant
(the "Annual Reports"). The Annual Reports must be filed with
the City no later than thirty (30) days following the date in which
the Annual Reports are filed with the Comptroller's Office of the
State of Texas.
h. Default. In the event Tenant B or the City fails to comply with
any covenants or obligations of this Agreement (exclusive of
satisfying the express conditions for the Grant, which is
governed by Paragraph 1(c) above), the non-failing party may
pursue any remedy available at law or in equity; provided that
neither party shall be in default unless and until such party fails
to cure any failure within sixty days (30 days for money
payments) following its receipt of written notice thereof from the
other party. The prevailing party to any dispute arising out of
the enforcement of this Agreement shall be entitled to recover
from the losing party reasonable attorney's fees, expenses and
costs.
3
2. Miscellaneous.
a. All construction will be in accordance with applicable codes,
regulations and ordinances of the City.
b. This Agreement may not be assigned by any party without the
written consent of the other parties, such approval not to be
unreasonably withheld; provided that M&M shall have the right,
without any consent being required, to assign this Agreement to
Tenant B, and upon such assignment, M&M shall be released
from all obligations thereafter accruing under this Agreement
and Tenant B shall be substituted for M&M in the same manner
as if this Agreement had been originally executed between the
City and Tenant B. In the event of assignment, the assigning
party shall provide written notice of the assignee, including
assignee's address and contact information.
c. This Agreement contains the entire agreement of the parties
with respect to the matters contained herein and may not be
modified or terminated except upon the provisions hereof or by
the mutual written agreement of the parties hereto.
d. This Agreement shall be construed in accordance with the laws
of the State of Texas and shall be performable in Tarrant
County, Texas.
e. This Agreement shall be binding upon and inure to the benefit of
the parties hereto and their respective successors and assigns.
f. The individuals executing this Agreement on behalf of the
respective parties below represent to each other and to others
that all appropriate and necessary action has been taken to
authorize the individual who is executing this Agreement to do
so for and on behalf of the party for which his or her signature
appears, that there are no other parties or entities required to
execute this Agreement in order for the same to be an
authorized and binding agreement on the party for whom the
individual is signing this Agreement and that each individual
affixing his or her signature hereto is authorized to do so, and
such authorization is valid and effective on the date hereof.
g. This Agreement is executed by the parties hereto without
coercion or duress and for substantial consideration, the
sufficiency of which is forever confessed.
4
h. Any notice provided for under the terms of this Agreement by
either party to the other shall be in writing and may be effected
by registered or certified mail, return receipt requested. Notice
to the City shall be sufficient if made or addressed to City
Manager, 100 Main Street Colleyville, Texas 76034, with a copy
to the City Attorney, Matthew C. G. Boyle, Boyle & Lowry,
L.L.P., 4201 Wingren, Suite 108, Irving, Texas 75062. Notice to
Tenant B shall be sufficient if made or addressed t013642
Omega, Dallas, Texas 75244, Attn: Charles M. Hodges. Each
party may change the address to which notice may be sent to
that party by giving notice of such change to the other parties in
accordance with the provisions of this Agreement.
I. This Agreement may be executed in a number of identical
counterparts, each of which shall be deemed an original for all
purposes.
J. In case anyone 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 provision
thereof, and this agreement shall be construed as if such
invalid, illegal or unenforceable provision had never been
contained herein.
k. Each signatory represents this Agreement has been read by the
party for which this Agreement is executed and that such party
has had an opportunity to confer with its counsel.
I. Time is of the essence in this Agreement.
m. The parties agree this Agreement has been drafted jointly by the
parties and their legal representatives.
n. Each party agrees to deliver estoppel certificates regarding the
status of this Agreement from time to time upon written request
of the other party.
o. Notwithstanding the Policy provisions, there will be no recapture
right on the part of the City with respect to any incentive
payments made prior to any default or failure of Tenant B
hereunder, whether or not this Agreement is terminated.
5
IN WITNESS WHEREOF, the parties have executed this Agreement and caused
this Agreement to be effective on the latest date as reflected by the signatures
below.
CITY OF COLLEYVILLE
MELVIN & MARTINDALE II, LTD.,
a Texas limited partnership
By:
By: R. M. Farrell, Inc., its general
partner
Name:
Title:
By:
Robert M. Farrell, President
Approved:
City Attorney
CORPORATE ACKNOWLEDGMENT:
The State of Texas
County of
Before me, the undersigned, on this day personally appeared
of ,
proved to me through the presentation of a valid Texas Driver's License to be the person
whose name is subscribed to the foregoing instrument and acknowledged to me that
he/she executed the same for the purposes and consideration therein expressed. Mr./Ms.
furthermore attested that he/she is signing this in his/her capacity as
of , and that such capacity makes his signature valid to
bind the company,
Seal:
GIVEN UNDER MY HAND AND SEAL OF OFFICE, this
,2005.
day of
My Commission Expires:
Notary Public in and for the State of Texas
6
EXHIBIT "C"
EXHIBIT "C"
RETAIL DEVELOPMENT AGREEMENT
This Agreement (the "Agreement") is entered into as of the by and
between The City of Colleyville, Texas, a municipal corporation (the "City") and
Melvin & Martindale II, Ltd., a Texas Limited Partnership ("M&M").
RECITALS:
WHEREAS M&M owns approximately 11.8 acres of property as more particularly
described in Exhibit "A" (the "Colleyville Town Center Parcel") on which M&M
plans to construct or cause to be constructed at least 70,000 square feet of retail,
entertainment, restaurant and/or office space that is heated, ventilated and air
conditioned as set forth on the Site Plan described in Exhibit "A" (or such other
square footage that is the tax generating equivalent thereof based upon the
"Fiscal Impact" section of M&M Application for Economic Development Incentives
dated April _' 2005) (herein collectively referred to as the "Retail Space"); and
WHEREAS, M&M has requested that the City authorize and pay certain cash
incentives and grants as provided herein (collectively referred to as the
"Incentives") with respect to a portion of the Retail Space which is to be
constructed for one of the Retail Space tenants (hereinafter called "Tenant C"),
as hereinafter more particularly described; and
WHEREAS, for the public purpose of promoting economic development and
diversity, increasing employment, reducing unemployment and
underemployment, expanding commerce and stimulating business and
commercial activity in the State of Texas, Tarrant County and the City, the City
desires to offer the incentives and grants to M&M as more particularly described
in this Agreement; and
WHEREAS, M&M has applied for the Incentives in accordance with the City's
Policy Statement for Development Incentives (the "Policy"); and
WHEREAS, the Agreement and Incentives are authorized by, and in accordance
with, the Policy and Chapter 380 of the Texas Local Government Code.
NOW, THEREFORE, for and in consideration of the promises, covenants and
agreements set forth herein, the receipt and sufficiency of which are hereby
acknowledged, the City and M&M agree as follows:
Project Subject to this Agreement. M&M plans to construct, or cause to be
constructed, as a part of the overall Retail Space, an approximately 25,000
square foot facility for Tenant C (or such other square footage that is the tax-
generating equivalent thereof) that is heated, ventilated and air conditioned,
1
substantially as set forth on the Site Plan described in Exhibit "A" (the "Tenant C
Space"), which may be modified from time to time as approved by the City, such
approval not to be unreasonably withheld or delayed, and on the land that is
described in Exhibit "A", attached hereto and incorporated herein for all
purposes.
1. Grant to Tenant C. For the aforesaid public purposes, the City desires to
grant to Tenant C $62,500 per year for ten years, for a total grant amount
of $625,000 (the "Grant"). To qualify for the Grant, Tenant C must meet
the conditions set forth in the following subparagraphs (a) - (d):
a. Obtain a certificate of occupancy for the Tenant C Space and
be open to the public and begin taxable sales on or about
December 1, 2006 (subject to delays in completion of
construction of the Tenant C Space due to material shortages,
weather, acts of God, labor disputes or other causes beyond the
reasonable control of Tenant Cor M&M); and
b. Operate the Tenant C Space for a period of no less than the full
term of this Agreement (subject to interruption due to damage or
casualty, as hereinafter provided); and
c. Cause the Tenant C Space to include a full-service beverage
and restaurant facility serving a limited menu of entrees and
desserts; and
d. Hold at least two festivals annually, including a live musIc
venue, subject to City promotional funding.
e. The City will have the right to terminate this Agreement if the
Tenant C Space is not completed in accordance with the
requirements of Paragraphs 1 (a)-(c) by the deadline specified in
Paragraph 1 (a), by giving written notice thereof to Tenant C at
any time prior to such completion. If this Agreement is not
terminated pursuant to the foregoing sentence, this Agreement
may not be terminated after completion of the Tenant C Space
for failure of Tenant C to meet any of the qualifications for the
Grant unless Tenant C fails to cause the failure to be cured
within sixty days following receipt of written notice from the City
of such failure; provided that if the failure is due to cessation of
operations by the operator of the retail space, the City may only
terminate this Agreement if the Tenant C Space is not reopened
within twelve (12) months, by giving written notice thereof to
Tenant C at any time prior to reopening; and further provided
that if the failure is due to damage or casualty to the retail
space, Tenant C shall have up to eighteen (18) months
2
following the damage or casualty to cause the Tenant C Space
to be restored and reopened before the City shall have the right
to terminate this Agreement, provided Tenant C causes
restoration to be commenced within a reasonable time and
completed with all due diligence. Notwithstanding anything in
this Agreement to the contrary, the sole remedy of the City with
respect to any failure of Tenant C to meet any conditions of the
Grant shall be termination of this Agreement in accordance with
and subject to the foregoing.
f. Term of Grant. Subject to the terms and conditions of this
Agreement, the Grant is available for a period of ten (10) years
beginning on the date the Tenant C Space opens for business,
provided that unless earlier terminated in accordance with its
express terms, this Agreement shall not end before the
$625,000.00 Grant is fully paid (the "Term").
g. Payment of Grant. The City will pay the Grant on an annual
basis beginning one year from the date of the first reported
taxable sale and continuing each year thereafter until the Term
ends or this Agreement is earlier terminated in accordance with
its express terms.
h. Amount of the Grant. The parties agree that the annual dollar
amount of the Grant payable to Tenant C will be $62,500.00. If
the qualifications for the Grant, as set forth in Paragraph 1 (b)-
(d), are not met for part of any year, the payment shall be
prorated based on the portion of the year during which the
qualifications were met.
i. Tenant C will provide annually all documents necessary for the
City to validate the Grant.
j. Default. In the event either party fails to comply with any
covenants or obligations of this Agreement (exclusive of
satisfying the express conditions for the Grant, which is
governed by Paragraph 1 (e) above), the other party may
pursue any remedy available at law or in equity; provided that
neither party shall be in default unless and until such party fails
to cure any failure within sixty days (30 days for money
payments) following its receipt of written notice thereof from the
other party (a "Default Notice"). The prevailing party to any
dispute arising out of the enforcement of this Agreement shall
be entitled to recover from the losing party reasonable attorney's
fees, expenses and costs.
3
2. Miscellaneous.
a. All construction will be in accordance with applicable codes,
regulations and ordinances of the City.
b. This Agreement may not be assigned by either party without the
written consent of the other party, not to be unreasonably
withheld; provided that M&M shall have the right, without any
consent being required, to assign this Agreement to Tenant C,
and upon such assignment, M&M shall be released from all
obligations thereafter accruing under this Agreement and
Tenant C shall be substituted for M&M in the same manner as if
this Agreement had been originally executed between the City
and Tenant C. In the event of assignment, the assigning party
shall provide written notice of the assignee, including assignee's
address and contact information.
c. This Agreement contains the entire agreement of the parties
with respect to the matters contained herein and may not be
modified or terminated except upon the provisions hereof or by
the mutual written agreement of the parties hereto.
d. This Agreement shall be construed in accordance with the laws
of the State of Texas and shall be performable in Tarrant
County, Texas.
e. This Agreement shall be binding upon and inure to the benefit of
the parties hereto and their respective successors and (subject
to Paragraph 2(b)) assigns.
f. The individuals executing this Agreement on behalf of the
respective parties below represent to each other and to others
that all appropriate and necessary action has been taken to
authorize the individual who is executing this Agreement to do
so for and on behalf of the party for which his or her signature
appears, that there are no other parties or entities required to
execute this Agreement in order for the same to be an
authorized and binding agreement on the party for whom the
individual is signing this Agreement and that each individual
affixing his or her signature hereto is authorized to do so, and
such authorization is valid and effective on the date hereof.
g. This Agreement is executed by the parties hereto without
coercion or duress and for substantial consideration, the
sufficiency of which is forever confessed.
4
h. Any notice provided for under the terms of this Agreement by
either party to the other shall be in writing and may be effected
by registered or certified mail, return receipt requested. Notice
to the City shall be sufficient if made or addressed to City
Manager, 100 Main Street Colleyville, Texas 76034, with a copy
to the City Attorney, Matthew C. G. Boyle, Boyle & Lowry,
L.L.P., 4201 Wingren, Suite 108, Irving, Texas 75062. Notice to
M&M shall be sufficient if made or addressed to 13642 Omega,
Dallas, Texas 75244, Attn: Charles M. Hodges. Each party
may change the address to which notice may be sent to that
party by giving notice of such change to the other parties in
accordance with the provisions of this Agreement.
I. This Agreement may be executed in a number of identical
counterparts, each of which shall be deemed an original for all
purposes.
J. In case anyone 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 provision
thereof, and this agreement shall be construed as if such
invalid, illegal or unenforceable provision had never been
contained herein.
k. Each signatory represents this Agreement has been read by the
party for which this Agreement is executed and that such party
has had an opportunity to confer with its counsel.
I. Time is of the essence in this Agreement.
m. The parties agree this Agreement has been drafted jointly by the
parties and their legal representatives.
n. Each party agrees to deliver estoppel certificates regarding the
status of this Agreement from time to time upon written request
of the other party.
o. Notwithstanding the Policy provisions, there will be no recapture
right on the part of the City with respect to any incentive
payments made prior to any default or failure of Tenant C
hereunder, whether or not this Agreement is terminated.
5
IN WITNESS WHEREOF, the parties have executed this Agreement and caused
this Agreement to be effective on the latest date as reflected by the signatures
below.
CITY OF COLLEYVILLE
MELVIN & MARTINDALE II, LTD.,
a Texas limited partnership
By:
By: R. M. Farrell, Inc., its general
partner
Name:
Title:
By:
Robert M. Farrell, President
Approved:
City Attorney
CORPORATE ACKNOWLEDGMENT:
The State of Texas
County of
Before me, the undersigned, on this day personally appeared
of ,
proved to me through the presentation of a valid Texas Driver's License to be the person
whose name is subscribed to the foregoing instrument and acknowledged to me that
he/she executed the same for the purposes and consideration therein expressed. Mr./Ms.
furthermore attested that he/she is signing this in his/her capacity as
of , and that such capacity makes his signature valid to
bind the company,
Seal:
GIVEN UNDER MY HAND AND SEAL OF OFFICE, this
,2005.
day of
My Commission Expires:
Notary Public in and for the State of Texas
6
EXHIBIT "0"
EXHIBIT "D"
RETAIL DEVELOPMENT AGREEMENT
This Agreement (the "Agreement") is entered into as of the by and
between The City of Colleyville, Texas, a municipal corporation (the "City") and
Melvin & Martindale II, Ltd., a Texas Limited Partnership ("M&M").
RECITALS:
WHEREAS M&M owns approximately 11.8 acres of property as more particularly
described in Exhibit "A" (the "Colleyville Town Center Parcel") on which M&M
plans to construct or cause to be constructed at least 70,000 square feet of retail,
entertainment, restaurant and/or office space that is heated, ventilated and air
conditioned as set forth on the Site Plan described in Exhibit "A" (or such other
square footage that is the tax generating equivalent thereof based upon the
"Fiscal Impact" section of M&M Application for Economic Development Incentives
dated April _' 2005), which 70,000 square feet includes the "Tenant B Space"
and the "Tenant C Space" as described in those other two certain Retail
Development Agreements of even date herewith between the City and M&M, and
which 70,000 square feet is herein collectively referred to as the "Retail Space");
and
WHEREAS, M&M has requested that the City authorize and pay certain cash
incentives and grants as provided herein (collectively referred to as the
"Incentives") with respect to the construction of the Retail Space; and
WHEREAS, for the public purpose of promoting economic development and
diversity, increasing employment, reducing unemployment and
underemployment, expanding commerce and stimulating business and
commercial activity in the State of Texas, Tarrant County and the City, the City
desires to offer the incentives and grants to M&M as more particularly described
in this Agreement; and
WHEREAS, M&M has applied for the Incentives in accordance with the City's
Policy Statement for Development Incentives (the "Policy"); and
WHEREAS, the Agreement and Incentives are authorized by, and in accordance
with, the Policy and Chapter 380 of the Texas Local Government Code.
NOW, THEREFORE, for and in consideration of the promises, covenants and
agreements set forth herein, the receipt and sufficiency of which are hereby
acknowledged, the City and M&M agree as follows:
Project Subject to this Agreement. M&M plans to construct the Retail Space,
or cause the Retail Space to be constructed, substantially as set forth on the Site
1
Plan described in Exhibit "A", which may be modified from time to time as
approved by the City, such approval not to be unreasonably withheld or delayed,
and on the land that is described in Exhibit "A", which Exhibits are attached
hereto and incorporated herein for all purposes (the "Project").
1. Grant to M&M. For the aforesaid public purposes, the City desires to
grant to M&M $50,000 per year for ten years, for a total grant amount of
$500,000 (the "Grant"). To qualify for the Grant, M&M must meet the
conditions set forth in the following subparagraphs (a) - (e):
a. Obtain a certificate of occupancy for at least 70,000 square feet
of Retail Space and have at least 50,000 square feet of the
Retail Space (or the tax-generating equivalent) open to the
public with taxable sales commenced on or about December 1,
2006 (subject to delays in completion of construction of the
Retail Space due to material shortages, weather, acts of God,
labor disputes or other causes beyond the reasonable control of
M&M).
b. The City will have the right to terminate this Agreement if M&M
fails to cause the Retail Space to be completed and occupied in
accordance with and to the extent of the requirements of
Paragraph 1 (a), by giving written notice thereof to M&M at any
time prior to such completion and occupancy. If this Agreement
is not terminated pursuant to the foregoing sentence, this
Agreement may not be terminated after the initial completion of
the Retail Space and satisfaction of the Paragraph 1 (a)
occupancy requirement, regardless of subsequent occupancy
levels of the Retail Space. However, if due to casualty damage,
there is at any time less than 70,000 square feet of Retail
Space(or the tax-generating equivalent thereof) occupied and/or
available (subject to tenant finish) for occupancy, the City shall
have the right to terminate this Agreement unless M&M causes
restoration of the Retail Space at least to the extent necessary
to have 70,000 square feet of Retail Space so available within
eighteen months from the date of the casualty. Notwithstanding
anything in this Agreement to the contrary, the sole remedy of
the City with respect to any failure of M&M to meet any
conditions of the Grant shall be termination of this Agreement in
accordance with and subject to the foregoing.
c. Term of the Grant. Subject to the terms and conditions of this
Agreement, the Grant is available for a period of ten (10) years
beginning on the date the condition in Paragraph 1 (a) is
satisfied, provided that unless earlier terminated in accordance
2
with its express terms, this Agreement shall not end before the
entire $500,000.00 Grant is fully paid (the "Term").
d. Payment of Grant. The City will pay the Grant to M&M on an
annual basis beginning one year from the date of satisfaction of
the Paragraph 1 (a) conditions and continuing each year
thereafter until the Term ends or this Agreement is earlier
terminated in accordance with its express terms.
e. Amount of the Grant. The parties agree that the annual dollar
amount of the Grant payable to M&M will be fifty thousand
dollars ($50,000). If due to casualty damage the daily average
amount of Retail Space occupied and/or available (subject to
tenant finish) for occupancy during any year is less than 70,000
square feet (or its tax-generating equivalent), the annual Grant
amount shall be prorated based upon the actual number of
square feet of Retail Space occupied and/or available for
occupancy during such year, as compared to 70,000 square
feet (or its tax-generating equivalent).
f. M&M will provide annually all documents necessary for the City
to validate the Grant.
g. Default. In the event either party fails to comply with any
covenants or obligations of this Agreement (exclusive of
satisfying the express conditions for the Grant, which is
governed by Paragraph 1 (b) above), the other party may
pursue any remedy available at law or in equity; provided that
neither party shall be in default unless and until such party fails
to cure any failure within sixty days (30 days for money
payments) following its receipt of written notice thereof from the
other party (a" Default Notice"). The prevailing party to any
dispute arising out of the enforcement of this Agreement shall
be entitled to recover from the losing party reasonable attorney's
fees, expenses and costs.
2. Miscellaneous.
a. All construction will be in accordance with applicable codes,
regulations and ordinances of the City.
b. This Agreement may not be assigned by either party without the
written consent of the other party, such approval not to be
unreasonably withheld. In the event of assignment, the
3
assigning party shall provide written notice of the assignee,
including assignee's address and contact information.
c. This Agreement contains the entire agreement of the parties
with respect to the matters contained herein and may not be
modified or terminated except upon the provisions hereof or by
the mutual written agreement of the parties hereto.
d. This Agreement shall be construed in accordance with the laws
of the State of Texas and shall be performable in Tarrant
County, Texas.
e. This Agreement shall be binding upon and inure to the benefit of
the parties hereto and their respective successors and assigns.
f. The individuals executing this Agreement on behalf of the
respective parties below represent to each other and to others
that all appropriate and necessary action has been taken to
authorize the individual who is executing this Agreement to do
so for and on behalf of the party for which his or her signature
appears, that there are no other parties or entities required to
execute this Agreement in order for the same to be an
authorized and binding agreement on the party for whom the
individual is signing this Agreement and that each individual
affixing his or her signature hereto is authorized to do so, and
such authorization is valid and effective on the date hereof.
g. This Agreement is executed by the parties hereto without
coercion or duress and for substantial consideration, the
sufficiency of which is forever confessed.
h. Any notice provided for under the terms of this Agreement by
either party to the other shall be in writing and may be effected
by registered or certified mail, return receipt requested. Notice
to the City shall be sufficient if made or addressed to City
Manager, 100 Main Street Colleyville, Texas 76034, with a copy
to the City Attorney, Matthew C. G. Boyle, Boyle & Lowry,
L.L.P., 4201 Wingren, Suite 108, Irving, Texas 75062. Notice to
M&M shall be sufficient if made or addressed to 13642 Omega,
Dallas, Texas 75244, Attn: Charles M. Hodges. Each party may
change the address to which notice may be sent to that party by
giving notice of such change to the other parties in accordance
with the provisions of this Agreement.
4
I. This Agreement may be executed in a number of identical
counterparts, each of which shall be deemed an original for all
purposes.
J. In case anyone 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 provision
thereof, and this agreement shall be construed as if such
invalid, illegal or unenforceable provision had never been
contained herein.
k. Each signatory represents this Agreement has been read by the
party for which this Agreement is executed and that such party
has had an opportunity to confer with its counsel.
I. Time is of the essence in this Agreement.
m. The parties agree this Agreement has been drafted jointly by the
parties and their legal representatives.
n. Each party agrees to deliver estoppel certificates regarding the
status of this Agreement from time to time upon written request
of the other party.
o. Notwithstanding the Policy provisions, there will be no recapture
right on the part of the City with respect to any incentive
payments made prior to any default or failure of M&M
hereunder, whether or not this Agreement is terminated.
5
IN WITNESS WHEREOF, the parties have executed this Agreement and caused
this Agreement to be effective on the latest date as reflected by the signatures
below.
CITY OF COLLEYVILLE
MELVIN & MARTINDALE II, LTD.,
a Texas limited partnership
By:
By: R. M. Farrell, Inc., its general
partner
Name:
Title:
By:
Robert M. Farrell, President
Approved:
City Attorney
CORPORATE ACKNOWLEDGMENT:
The State of Texas
County of
Before me, the undersigned, on this day personally appeared
, of
proved to me through the presentation of a valid Texas Driver's License to be the person
whose name is subscribed to the foregoing instrument and acknowledged to me that
he/she executed the same for the purposes and consideration therein expressed. Mr./Ms.
furthermore attested that he/she is signing this in his/her capacity as
of , and that such capacity makes his signature valid to
bind the company,
Seal:
GIVEN UNDER MY HAND AND SEAL OF OFFICE, this
,2005.
day of
My Commission Expires:
Notary Public in and for the State of Texas
6
.~
'texas
PLANNING AND ZONING COMMISSION
MEETING MINUTES - March 28, 2005
CALL TO ORDER
Chairman Byerly called the meeting to order at 7:10 p.m.
ROLL CALL
Commissioners Thomas Dolan, Dave Dudziak,
Thomas Bartkowski, Luann Edwards, John
Blassingame, Denis Duffy and Jeff Byerly were
present.
Barry LeBaron, Chris Fuller, Amy Shelley and Robert
Woods from staff were present.
INVOCATION
The invocation was given by Commissioner Dolan.
PLEDGE OF ALLEGIANCE
APPROVAL OF MINUTES
Commissioner Edwards moved to approve the minutes of the March 14, 2005, meeting
Commissioner Duffy seconded.
The motion was approved by the following vote:
Aye: Dolan, Dudziak, Bartkowski, Edwards, Blassingame, Duffy and Byerly
Nay: None
CITIZEN COMMENTS REGARDING ITEMS NOT ON THE AGENDA
None
REGULAR AGENDA ITEMS
1. Case P-05-009 - Final Plat of Lot 1 R and Lot 2, Block 1 of the Baum Addition,
being a replat of Lot 1, Block 1, Baum Addition, 3.16 acres located on the west side
of Behrens Road, south of Glade Road
Chris Fuller presented the case and briefed the Commission.
Commissioner Edwards asked staff to clarify the escrow for the perimeter street fee.
Chris Fuller responded that it was an approximate amount of $135 per square foot.
Commissioner Bartkowski questioned staff about the line going west of the east
property line, for clarity, what is the line? Barry LeBaron responded an error in the
drawing.
Commissioner Byerly opened the public hearing at 7:20 p.m.
There being no one wishing to speak the public hearing was closed at 7:21 p.m.
Planning & Zoning Commission
Minutes - March 28, 2005
Page 1 0'9
Commissioner Byerly made motion to approve case P-05-009. Commissioner
Blassingame seconded.
The motion was approved by the following vote:
Aye: Dolan, Dudziak, Bartkowski, Edwards, Blassingame, Duffy and Byerly
Nay: None
PUBLIC HEARING AGENDA ITEMS
3. Case Z-OS-008- PUBLIC HEARING - Request for a zoning change from AG
to R40 and R20 on 24.108 acres, out of the William Dunn Survey, Abstract 404,
located at 6805 Pleasant Run Road
Chris Fuller presented the case and briefed the Commission.
Commissioner Byerly questioned if the aspect of this being a gated subdivision
would be a platting issue? Chris Fuller responded correct.
Commissioner Edwards questioned staff if Lot 16 is just for open space not for a
home? Chris Fuller replied correct, that lot is going to be used for detention.
Commissioner Edwards questioned staff what could stop a home from being built on
that lot in the future since this will be R20 zoning? Chris Fuller stated this lot will be
dedicated as open space to be maintained privately. The lot frontage would not
conform to the R20 zoning; therefore a home could not be built on that lot.
Barry LeBaron stated the applicant has submitted the preliminary plat so that the
developer would be bound to the lot configuration, hence that is why the zoning and
preliminary plat are on this agenda.
Commissioner Edwards stated liking having the zoning and preliminary, however,
because this is straight zoning, if this property were to be sold, it does not mean a
new developer would use the same lot configuration. Barry LeBaron stated the
preliminary plat would be good for up to 12 months, therefore a final plat would have
to be submitted that was consistent with the preliminary plat presented to the
Planning and Zoning Commission and City Council for approval.
Commissioner Byerly questioned staff if the 40-foot strip to John McCain is included
on this? Barry LeBaron stated correct.
Commissioner Dudziak questioned staff if the strip is considered open space?
Barry LeBaron replied correct. Commissioner Dudziak questioned staff if it could
be sold at a later time? Barry replied correct, since this is not a PUD, it is not
required open space therefore it could be sold. However, the intention of the
developer for this open strip is to be maintained as open space and the HOA would
maintain. Commissioner Dudziak questioned if the HOA could sell the strip? Barry
LeBaron stated these are platting questions and at this point the zoning case is
what is being presented, however, the developer has stated dedicating the open
strip to the city for the use of the trail system.
Commissioner Dudziak questioned staff if the trail would go down the length of the
open space? Barry LeBaron responded correct, the trail would go down from John
Planning & Zoning Commission
Minutes - March 28, 2005
Page 2 of 9
McCain and out the southeast corner of this development.
Commissioner Duffy questioned staff if once the platting is complete; the 40-foot
strip would then become a 30-foot strip, and would not be for sale? Barry LeBaron
stated there would be a trail easement along that property so no matter who owned
the property; the city would still have the easement. Commissioner Duffy
questioned staff if the developer has been briefed on the requirements of Chapter
10 of the Land Development Code for the gate and HOA? Barry LeBaron replied
the developer is aware of all the requirements for the gate details and HOA
information, but for the preliminary plat all the requirements have been met.
Commissioner Byerly opened the public hearing at 7:26 p.m.
John Fegan, the applicant, presented his request and briefed the Commission and
stated the neighbors wish to have this as a gated community with the trail system
outside the gate.
Commissioner Duffy questioned the applicant if the emergency access gate would
be west of the 10-foot trail on the eastern side of the property? Mr. Fegan
responded correct.
Commissioner Dolan questioned the applicant if the intention of the gated
community is to eliminate the traffic cut through from John McCain to Pleasant Run
Road? Mr. Fegan responded yes, he stated did not have plans to do the gate at
first but after having meetings with the neighbors, they all wanted that gate to cut off
the access between the two additions.
Commissioner Edwards questioned the applicant if he is putting up the gate
because that is what the neighbors wanted? Mr. Fegan responded correct, he
stated already paying the fee and committing to the gate.
Robert Pool, 6905 Pleasant Run Road, stated opposing the R20 portion of the
zoning request and stated having issues with traffic this density would create.
Roy Erwin, 6908 Pleasant Run Road, stated opposing the R20 portion of the zoning
request and stated having issues with traffic and drainage.
Dinah Stephens, 612 Shelton Drive, stated opposing the R20 portion of this request
for all the reasons previously stated.
Bill Stephens, 612 Shelton Drive, stated opposing the R20 portion of this request
and stated having issues with traffic and density.
Rhonda Berry, 2003 Kyle Court, stated liking the mixed zoning of R20 and R40.
Tony Johann, 2212 Collins Path, stated supporting the growth in Colleyville. He
stated liking the developer's use of R40 and R20. Mr. Johann stating liking and
using the bike trail and the fact that this developer wants to keep the bike trail off of
the main roads.
Steve Stallard, 5100 Fry Lane, stated supporting the developer and liking the
growth of Colleyville. Mr. Stallard stated this development is being done correctly.
James Day, 805 Shelton Drive, stated opposing the R20 zoning and the connector
Planning & Zoning Commission
Minutes - March 28, 2005
Page 3of9
road with the Warwick Parc addition. Mr. Day stated if the connector street is not
allowed, it would help this addition.
Earl Morse, 1207 Hardage Lane, stated supporting the developer and the concept
of this development by working with the neighbors. Mr. Morse stated by using the
R40 and R20 mixed zoning seems to be a good blend for this area.
Tom Quinn, 6817 Pleasant Run Road, stated supporting the plat in the revised form
and supports the gated community idea to avoid the cut through traffic.
Becky Meadows, 6901 Pleasant Run Road, stated supporting Mr. Fegan's concept
and the fact that Mr. Fegan has worked with the surrounding neighbors; however
the R20 zoning does not compliment this part of Colleyville. Ms. Meadows stated
supporting the R20 on this plat because the R20 lots will be on the same side as the
soccer fields and can be used as a transitional area. Ms. Meadows stated having
concerns with traffic being diverted from John McCain to Pleasant Run Road which
would make the neighborhoods less desirable.
Joan Quinn, 6817 Pleasant Run Road, stated supporting the plat in the revised form
and supports the gated community idea to avoid the cut through traffic from John
McCain to Pleasant Run Road. Ms. Quinn stated appreciating Mr. Fegan's
willingness to work with the neighbors.
Swift Lindley, 2002 Kyle Court, stated supporting this plan because Colleyville is
built out on this type of development. Mr. Lindley stated liking the dedication of Mr.
Fegan.
There being no one wishing to speak the public hearing was closed at 7:46 p.m.
Commissioner Edwards stated liking the R20 lots being next to the soccer fields and
pleased with the R40 lots being placed next to the existing neighbors.
Commissioner Byerly concurred with Commissioner Edwards.
Commissioner Bartkowski concurred with Commissioner Edwards.
Commissioner Duffy questioned staff for platting purposes; does the location of the
housing need to be on the plat for the flood information? Barry LeBaron replied at
the time of platting the pad sites could be determined by the building set back lines.
Commissioner Duffy stated since Lot 16 is in the floodway, as well as some of the
other lots, and the flow pattern is from lower right to upper left, the detention pond is
necessary in that area. Barry LeBaron stated correct and the limits of the 100 year
flood are on the preliminary plat and will be finalized at the final plat. Robert
Woods, city engineer, stated during the final platting, the flood plain issues will be
addressed at that time.
Commissioner Bartkowski stated during the preliminary plat review, the procedure
states there should be a preliminary drainage analysis that the Planning and Zoning
Commission has an opportunity to review, therefore he would like to see the
analysis before approval of the plat.
Commissioner Dolan made motion to approve case Z-05-008. Commissioner
Planning & Zoning Commission
Minutes - March 28, 2005
Page 4 of9
Bartkowski seconded.
The motion was approved by the following vote:
Aye: Dolan, Dudziak, Bartkowski, Edwards, Blassingame, Duffy and Byerly
Nay: None
2. Case P-OS-011 - Preliminary Plat on 24.108 acres, out of the William Dunn
Survey, Abstract 404, located at 6805 Pleasant Run Road
Staff made recommended to move this item to after item #3.
Chris Fuller presented the case and briefed the Commission.
Commissioner Bartkowski questioned staff about the two drainage easements not
being centered on the lot line? Robert Woods responded the developer is doing a
split lot easement. Commissioner Bartkowski questioned if a storm drain would be
provided? Robert Woods responded a storm drain is on the preliminary plat
presented for review. Commissioner Bartkowski questioned staff what would
happen if the drain would have to be dug up, typically that is why the drainage is
done down the center of the lot line? Robert Woods replied it being standard
procedure to do a split lot easement of a total of 15 feet depending on the site
layout. At this time, the easements can adjust during the design process.
Commissioner Bartkowski stated parts of the lots are in the floodway and part of the
preliminary plat review procedure states the developer should submit a preliminary
drainage analysis and utility layout, therefore he stated wanting to see those
analysis before approving the preliminary plat.
Commissioner Edwards questioned staff, if on a straight zoning, are those studies
required? Chris Fuller replied not on zoning only at platting.
Commissioner Edwards questioned staff if the easement for the trail has already
been provided? Chris Fuller replied correct, the developer has submitted a revised
copy that complied with the trail.
Commissioner Edwards stated the engineering department will not allow any thing
to be done on any development that would endanger the lots with drainage and not
having the drainage study at this time should not hold this plat back from being
approved.
Commissioner Bartkowski concurred with Commissioner Edwards, however he
stated Chapter 9 of the Land Development Code state that no land subject to the
100 year flood should be subdivided. Commissioner Edwards stated FEMA will
assure the layout of the lots and the drainage before building permits will be issued.
Commissioner Dolan questioned staff if engineering would make sure FEMA had
released before the issuing of the permits? Robert Woods replied correct. Barry
LeBaron stated those issues are addressed during final plat process. Robert
Woods stated FEMA would provide a detailed study at the time of final design.
Commissioner Edwards stated opposing the gated community because the
connector street was approved during the Warwick Parc approval. She stated
Planning & Zoning Commission
Minutes - March 28, 2005
Page 5of9
being concerned with causing problems with entry and exit of the Stonebridge Parc
residents.
Commissioner Byerly concurred with Commissioner Edwards the stub out was to
provide relief from John McCain.
Commissioner Bartkowski concurred these residents would only be able to enter
and exit on to Pleasant Run Road which would compound the traffic congestion on
Pleasant Run Road.
Commissioner Dolan stated getting on to Pleasant Run Road is a problem; however
this has been a problem for a while, but not a problem this developer caused.
Commissioner Byerly questioned staff if it would be ok to approve this preliminary
plat without the gated aspect, or should it be denied? Barry LeBaron stated the plat
could be approved with conditions to be addressed when the final plat comes
forward which would require approval by the City Council.
Commissioner Duffy stated there are several items to be submitted with the
preliminary plat. Has a tree replacement plan been submitted and does the
Commission have what is necessary to approve this preliminary plat? Barry
LeBaron replied not sure about the tree replacement plan, it is usually submitted at
time of building permit. Commissioner Duffy stated needing to have a work session
to go through the checklist chapter.
Commissioner Byerly concurred with Commissioner Edwards that submitting this
plat at the same time of zoning is great, to be able to lock the lots. However, having
the developer cross and dot every T and I are not required at this time, only at the
time of final plat.
Commissioner Edwards questioned staff if the Commission could split the voting for
the gated aspect and the preliminary plat? Matthew Boyle, City Attorney, stated
yes.
Commissioner Dolan stated not being in favor of splitting the vote.
Commissioner Duffy questioned staff about the procedure for splitting the vote?
Commissioner Edwards stated it being important, for the comfort level of the
neighbors, for the plat to pass; however, she stated not having a good feel for the
gate. Commissioner Edwards stated splitting the vote would make it easier for the
council to consider.
Commissioner Dolan stated the speakers, who spoke during the public hearing,
were comfortable with the plan that was presented and that plan included the gate
on Pleasant Run Road. The developer addressed the issue of the cut through road
with the neighbors and that is what was decided, therefore Commissioner Dolan
stated not being in favor of splitting the vote.
Commissioner Dudziak stated being in favor of splitting the vote and questioned
staff about the log cabin, is there an agreement in the works? Chris Fuller replied
correct, however there is no set location for the cabin. Commissioner Dudziak
questioned how could there be a public facility in a gated community? How would
Planning & Zoning Commission
Minutes - March 28, 2005
Page 6of9
the public access the facility? Chris Fuller replied the cabin will be moved on to city
property and a developer's agreement is being drafted.
Mr. Boyle questioned Commissioners how is this relevant to the approval of the
preliminary plat? Commissioner Dudziak replied that if the cabin is a public facility
how can it be placed in a private gated community? Mr. Boyle stated it not being
shown on the plat as a dedicated public area.
Mr. Fegan stated working with the Parks Department and having agreed to pay to
move the cabin to where ever the city wants the cabin and he stated leaving that to
the city. Barry LeBaron stated as far as public access, there will be pedestrian
access through this development's gates for the use of the Cotton belt Trail.
Commissioner Edwards questioned staff about how they might feel about closing
the access from Warwick Parc? Barry LeBaron stated staff suggested putting the
stub out street from Warwick Parc to provide for circulation from neighborhood to
neighborhood.
Mr. Fegan stated originally on the Warwick Parc addition, there was not a plan to
put the stub out street there because it caused the loss of a lot; however, it was
placed there by the advisory of staff and city council to provide for the relief of
traffic. Mr. Fegan stated agreeing with the neighbors about the gated access, but
the stub out would still be there for emergency access only. Mr. Fegan stated
adding a gate next to the front for pedestrian access to the path. Also, he states
already having worked with FEMA about the flood area which will take about four to
six months with strict standards to meet. Mr. Fegan stated placing the streets as to
prevent damage to very few trees.
Commissioner Edwards questioned staff if the ROW along Pleasant Run Road is
tied down to on the other side of the road to insure going from the middle of the
existing roadway. Robert Woods replied having dedicated the centerline on this
area at the time of final. Barry LeBaron stated the centerline is the assumed center.
Mr. Fegan stated the drainage ditches would be cleaned for better flow.
Commissioner Bartkowski stated wanting to see the preliminary drainage analysis
before approving this, because the developer is taking open land, putting
impervious coverage, collecting it in a detention area, and there will be some kind of
point discharge in someone's backyard, the way it appears now. He stated it is
prudent to see that information and it is reviewed as part of the plat procedure.
Robert Woods stated the developer has provided plans for this drainage, as
outlined in the code, and it shows the detention requirements, and not allowing
extra flow in the existing conditions. The final calculations will be done during the
final plat procedure. Commissioner Bartkowski stated it being important to show
adequate facilities in the area for the drainage.
Commissioner Byerly made motion to approve the preliminary plat case P-05-011
with the deletion of the gated access. Commissioner Dudziak seconded.
The motion was approved by the following vote:
Aye: Dudziak, Edwards, Blassingame, Duffy and Byerly
Planning & Zoning Commission
Minutes - March 28, 2005
Page 7of9
Nay: Dolan, Bartkowski
4. Case Z-OS-009 - PUBLIC HEARING - Request for a zoning change from AG
to R40 on 1.155 acres, out of the S.C.H. Witten Survey, Abstract 1619, located at
5500 Montclair Drive
Chris Fuller presented the case and briefed the Commission.
Commissioner Byerly opened the public hearing at 8:25 p.m.
There being no one wishing to speak, the public hearing was closed at 8:25 p.m.
Commissioner Edwards made motion to approve case Z-05-009. Commissioner
Duffy seconded.
The motion was approved by the following vote:
Aye: Dolan, Dudziak, Bartkowski, Edwards, Blassingame, Duffy and Byerly
Nay: None
S. Case Z-OS-010 - PUBLIC HEARING - Request for a zoning change from AG
to R40 on 4.0 acres, out of the Joseph White Survey, Abstract 1692, located at 512
and 600 Shelton Drive
Barry LeBaron presented the case and briefed the Commission.
Commissioner Byerly opened the public hearing at 8:26 p.m.
Jeff Vanderpool, 512 Shelton Drive, the applicant, presented the case and briefed
the Commission.
Dinah Stephens, 612 Shelton Drive, spoke in favor of the R40 zoning.
Bill Stephens, 612 Shelton Drive, spoke in favor of the R40 zoning.
James Day, 805 Shelton Drive, spoke in favor of the R40 zoning.
There being no one wishing to speak, the public hearing was closed at 8:30 p.m.
Commissioner Edwards made motion to approve case Z-05-010. Commissioner
Dolan seconded.
The motion was approved by the following vote:
Aye: Dolan, Dudziak, Bartkowski, Edwards, Blassingame, Duffy and Byerly
Nay: None
STAFF REPORTS
Barry LeBaron stated the PUD recommendations are moving forward. Barry LeBaron
stated after getting through the budget process, there will be more work shops
scheduled.
COMMISSIONER COMMENTS
Commissioner Dudziak stated having confusion about the documents needed for the
preliminary plats.
Planning & Zoning Commission
Minutes - March 28, 2005
Page 8 of 9
Commissioner Duffy stated wanting a clear checklist so that we are sure to have
everything in place for fairness to the developer and council.
Commissioner Byerly concurred with Commissioner Duffy about clear checklists for
plats and could be addressed in a work shop.
Commissioner Edwards stated wanting us to move away from approving the drainage
on a property, the engineering department is very capable and accessible for reviewing
those plans.
Commissioner Duffy stated the Commissioners need the documents so that the
Commissioners can do the homework so that the council can do their job easier.
Commissioner Byerly stated stream lining the drainage process for the benefit of the
citizens since drainage is an issue for the citizens.
Commissioner Dolan stated the loop being closed with a clear cut check list and sign off
by the appropriate department.
Commissioner Byerly stated streamlining the whole process by a recommendation by
staff for approval or denial of a plat.
Commissioner Duffy stated he will be absent for the two meetings in April.
Commissioner Edwards stated she might possibly miss the two dates in April.
ADJOURNMENT
The Commission adjourned the meeting at 8:40 p.m. by acclamation.
Respectfully Submitted,
Amy Shelley
Planning and Zoning Assistant
Approved on: April 11 ,2005
Planning & Zoning Commission
Minutes - March 28, 2005
Page 9of9
RESOLUTION R-05-2542
A RESOLUTION APPROVING COUNCIL ACTION
UNDER BUSINESS AT THE REGULAR
COUNCIL MEETING OF
MAY 3, 2005
WHEREAS, Council has taken action on certain items on the agenda under Business.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
COLLEYVILLE, TEXAS:
Sec. 1.
THAT the agenda decisions approved by Council action under Business
this date and not otherwise adopted by Ordinance and/or separate
Resolution as follows are hereby adopted:
a.
THAT
AND IT IS SO RESOLVED.
APPROVED THIS DAY OF
AYES, NAYS AND ABSTENTIONS.
2005, BY A VOTE OF
ATTEST:
CITY OF COLLEYVILLE
Cynthia Singleton, TRMC
City Secretary
Joe Hocutt
Mayor