HomeMy WebLinkAboutColleyville Economic Development Corporation (CEDC)-Minutes-4/28/2005
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PUBLIC NOTICE
ON THURSDAY, APRIL 28,2005, AT 6:30 P.M., AT CITY HALL, 100 MAIN STREET,
COUNCIL CHAMBERS, THIRD FLOOR, THE COLLEYVILLE ECONOMIC
DEVELOPMENT CORPORATION BOARD OF DIRECTORS WILL HOLD A MEETING
FOR THE FOLLOWING PURPOSE:
1. CALL TO ORDER
CONSENT:
2. CONSIDERATION OF CONSENT RESOLUTION R-05-69 - CONSENT ITEMS:
a, Approval of minutes of the Colleyville Economic Development Corporation
Board of Directors meeting held December 1, 2004
b. Approval of Pledge Agreement with the Federal Reserve Bank for bank
depository account collateral
3. READING AND PUBLIC HEARING - RESOLUTION R-05-70 - Approval of
authorized depository signatures
4. REVIEW AND DISCUSSION OF FUNDING FOR ECONOMIC DEVELOPMENT
PROJECTS
5. AUTHORIZATION FOR THE GENERAL MANAGER TO INITIATE
PROCEEDINGS FOR THE REFUNDING OF THE OUTSTANDING 1997 AND
2000 SALES TAX REVENUE BONDS
6. READING AND PUBLIC HEARING - RESOLUTION R-05-71 - Discussion and
Consideration of a Resolution ratifying Corporate Board action for the meeting of
April 28, 2005
ADJOURNMENT:
7. ADJOURNMENT
I certify that the above notice was posted on the Bulletin Board at City Hall on Monday,
April 25, 2005, at 8:30 a.m,
~ ~
Cynthia Singleton, TRM
City Secretary
100 MAIN STREET COLLEYVILLE, TEXAS 76034 (817) 503-1000
MINUTES OF THE
COLLEYVILLE ECONOMIC DEVELOPMENT
CORPORATION BOARD OF DIRECTORS MEETING
APRIL 28, 2005
The meeting of the Colleyville Economic Development Corporation Board of Directors
was called to order by President John Ayers on April 28, 2005, at 6:35 p,m,
ROLL CALL:
Directors Elaine Dolan, John Gray, Rich Hendler and John
Terhoeve were present. President Jon Ayers, General Manager
Bill Lindley, Finance Manager Terry Leake, Economic Development
Manager Scott Welmaker and Secretary Cynthia Singleton were
also present.
Director Mark Skinner was absent.
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Mr, Jim Sabonis of First Southwest Company also attended.
CONSENT:
2. CONSIDERATION OF CONSENT RESOLUTION R-05-69 - CONSENT ITEMS:
a, Approval of minutes of the Colleyville Economic Development Corporation
Board of Directors meeting held December 1, 2004
b. Approval of Pledge Agreement with the Federal Reserve Bank for bank
depository account collateral
President Ayers opened the public hearing and read Resolution R-05-69 in its entirety,
There was no one present wishing to speak concerning this item and President Ayers
closed the public hearing.
Director Hendler moved to approve Resolution R-05-69,
Director Dolan seconded the motion,
Ayes: Directors Dolan, Terhoeve, Gray, Hendler and Ayers
Nays: None
President Ayers declared the motion carried,
CEDC MINUTES
APRIL 28,2005
3. READING AND PUBLIC HEARING - RESOLUTION R-05-70 - Approval of
authorized depository signatures
President Ayers opened the public hearing and read Resolution R-05-70 in its entirety.
There was no one present wishing to speak concerning this item and President Ayers
closed the public hearing,
Director Dolan moved to approve Resolution R-05-70.
Director Terhoeve seconded the motion.
Ayes: Directors Dolan, Terhoeve, Gray, Hendler and Ayers
Nays: None
President Ayers declared the motion carried,
4. REVIEW AND DISCUSSION OF FUNDING FOR ECONOMIC DEVELOPMENT
PROJECTS
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Economic Development Manager Scott Welmaker reviewed projects acceptable for
funding with CEDC revenue.
There was general discussion regarding various economic development projects that
may be funded with CEDC funds, including City festivals, a summer concert series,
traveling exhibits, an art gallery hosted at City facilities and entryway monuments.
Discussion continued regarding the development of a merchant's association, marketing
venues for new and existing businesses and festivals, development of a cultural theme
for the City and the cost and location of City entryway monuments.
The CEDC Board requested that staff present advertising options to City boards,
commissions and committees that organize City events and provide information related
to the design, cost and location of entryway monuments,
5. AUTHORIZATION FOR THE GENERAL MANAGER TO INITIATE
PROCEEDINGS FOR THE REFUNDING OF THE OUTSTANDING 1997 AND
2000 SALES TAX REVENUE BONDS
Finance Director Terry Leake provided an overview of the bond refunding scenarios and
answered questions of the Council.
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CEDC MINUTES
APRIL 28, 2005
Mr. Jim Sabonis of First Southwest Company reviewed the proposed schedule of
events for refunding and related costs associated with the issuance and was present to
answer questions of the Council.
Discussion ensued regarding refunding and the CIP funding program.
Board members requested information regarding interest rates and that staff provide
additional information regarding the refunding of the outstanding 1997 and 2000 sales
tax revenue bonds.
The CEDC Board determined that a Colleyville Economic Development Corporation
meeting would be held May 11, 2005, at 9:30 a,m,
6. READING AND PUBLIC HEARING - RESOLUTION R-05-71 - Discussion and
Consideration of a Resolution ratifying Corporate Board action 'for the meeting of
April 28, 2005
This item was not needed.
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ADJOURNMENT:
6. ADJOURNMENT
There being no further business before the Board, President Ayers declared the
meeting adjourned at 8:35 p.m.
APPROVED THIS
tp AYES
//);{ DAY OF
o NAYS AND
)'?7 '?::::J 2005, BY A VOTE OF
o ABSTENTIONS,
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Cynthia Singleton, TRMC
Secretary
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