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2009-02-03 CC Packet CITY OF SOUTHLAKE TEXAS REGULAR CITY COUNCIL MEETING MINUTES: FEBRUARY 3, 2009 LOCATION: 1400 Main Street, Southlake, Texas Council Chambers in Town Hall CITY COUNCIL PRESENT: Mayor Andy Wambsganss, Mayor Pro Tem John Terrell, and Councilmembers Pamela Muller, Virginia M. Muzyka, and Vernon Stansell. CITY COUNCIL ABSENT: Deputy Mayor Pro Tern Gregory Jones and Councilmember Laura K. Hill. PLANNING AND ZONING COMMISSION PRESENT: Chairman Al Morin, Vice- Chairman Brandon Bledsoe, and Commissioners Darrell Faglie, Robert Hudson, Joe Lancor, Michael Springer and Jeff Wang. PLANNING AND ZONING COMMISSION ABSENT: None. lkw STAFF PRESENT: City Manager Shana Yelverton, Assistant City Manager / Director of Public Safety Jim Blagg, Assistant City Manager Ben Thatcher, Assistant to the City Manager Alison Ortowski, Community Relations Officer Pilar Schank, Director of Information Technology Dale Dean, Information Systems Technician Vicky Roche, Director of Community Services Chris Tribble, Deputy Director of Community Services Kerry McGeath, Recreation Superintendent Steve Moore, Director of Economic Development Greg Last, Director of Finance Sharen Jackson, Director of Human Resources Kevin Hugman, Director of Planning and Development Services Ken Baker, Chief Building Official Paul Ward, Planner II Clayton Comstock, Planner I Daniel Cortez, Administrative Secretary Stephanie Breitbarth, Chief of Police Services Robert Finn, Chief of Fire Services Mike Starr, Director of Public Works Robert H. Price, Deputy Director of Public Works Gordon Mayer, Civil Engineer Michael James, Civil Engineer Michelle McCullough, Civil Engineer Cheryl Taylor, Public Works Operations Manager Chuck Kendrick, Public Works Supervisor Joe Walsh, Environmental Coordinator Christi Upton, City Attorney Tim Sralla, and City Secretary Lori Payne. WORK SESSION: Agenda Item No. 1. Call to order. The joint work session of the City Council and the Planning and Zoning Commission was called to order by Mayor Wambsganss at 5:16 p.m. Agenda Item No. 2. Invocation. Chaplain of the Month Doug Allison gave the invocation. Mayor Wambsganss led the pledge of allegiance. REGULAR CITY COUNCIL MEETING MINUTES, FEBRUARY 3, 2009 Page 1 of 7 w I Agenda Item No. 3. Presentation: Storm Water Management and Erosion Control. City "'r Manager Yelverton introduced the item. Director Price presented this item to the Council and the Commission and answered their questions. Mayor Wambsganss closed the joint work session at 6:14 p.m. and called for a break. Mayor Wambsganss reconvened the City Council work session at 6:28 p.m. Agenda Item No. 4. Discuss all items on tonight's meeting agenda. City Council reviewed the consent agenda items with city staff. The following items were added to the consent agenda: to table items 6A and 6B to the February 17, 2009 City Council meeting and to approve item 9A. Mayor Wambsganss closed the work session at 6:37 p.m. REGULAR SESSION: Agenda Item No. 1. Call to order. The regular session was called to order by Mayor Wambsganss at 6:37 p.m. Agenda Item No. 2A. Executive Session. Mayor Wambsganss announced City Council would be going into Executive Session pursuant to the Texas Government Code lt Section 551.071, seek advice from the city attorney, and Section 551.087, deliberation regarding economic development negotiations. City Council adjourned for Executive Session at 6:37 p.m. Executive Session began at 7:12 p.m. and ended at 7:51 p.m. Agenda Item No. 2B. Reconvene. Mayor Wambsganss reconvened the regular meeting at 7:56 p.m. and asked if any action was necessary from Executive Session. No action was necessary. Agenda Item No. 3A1. Mayor's Report - update of upcomingmeetings and events. g v 9 Mayor Wambsganss announced upcoming meetings and events. Agenda Item No. 3B1. CityManager's Report — George Weidenhof recognition. 9 Director Tribble introduced George Weidenhof who has taught martial arts for the City since 2001 and has trained over 2000 participants in Southlake. He is a registered second-degree black belt in Tae Kwon Do and was promoted to Yodan (fourth degree black belt in Jiu-jitsu) in December 2008. Agenda Item No. 3C. Library Board Report. A written report was given to Council. Agenda Item No. 3D. Local Business Report. Director Last introduced Sarah Ricketts who introduced local business, Anderson's Furniture and Design Gallery, to Council. I REGULAR CITY COUNCIL MEETING MINUTES, FEBRUARY 3, 2009 • Page 2 of 7 p C CONSENT AGENDA: Consent agenda items are considered to be routine by the City Council and are enacted with one motion. Mayor Wambsganss read the items into the ... record. Agenda Item No. 4A. Approve minutes from the January 20, 2009 regular City Council meeting. The minutes were approved as presented. Agenda Item No. 4B. Resolution No. 09-002, Call a General Election and a Special Election for May 9, 2009. A presentation was not made on this item. In accordance with Section 4.21 of the City Charter, the caption for this item is listed as follows: A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SOUTHLAKE, TEXAS, CALLING FOR A GENERAL ELECTION TO BE HELD ON MAY 9, 2009; CALLING FOR A SPECIAL ELECTION TO BE HELD ON MAY 9, 2009; AND ESTABLISHING PROCEDURES FOR THOSE ELECTIONS; AND PROVIDING AN EFFECTIVE DATE. Agenda Item No. 4C. Award construction contract for Segments 'A' and 'F' of the T.W. King 30-inch water supply line to Circle C Construction, Ltd. in the amount of $2,635,235 and authorize construction phase contingencies. A presentation was not made on this item. Agenda Item No. 4D. Approve four T-Mobile water tower lease agreements for cellular C460 equipment on the Dove, Miron, Florence, and Bicentennial water towers. A presentation was not made on this item. Agenda Item No. 4E. Approve a scope of service agreement with the Southlake Chamber of Commerce for 2008-2009. A presentation was not made on this item. Agenda Item No. 4F. Approve the renewal of landscape maintenance contracts with TruGreen LandCare. A presentation was not made on this item. Agenda Item No. 4G. Approve an Interlocal Agreement and the Joint Purchase of a mobile stage with the City of Keller. A presentation was not made on this item. Agenda Item No. 4H. Resolution No. 09-004, Authorize the selection of the construction manager at risk method of delivery for construction of the DPS North Training facility. A presentation was not made on this item. In accordance with Section 4.21 of the City Charter, the caption for this item is listed as follows: A RESOLUTION AUTHORIZING THE SELECTION OF THE CONSTRUCTION MANAGER AT RISK METHOD OF DELIVERY FOR CONSTRUCTION OF THE DEPARTMENT OF PUBLIC SAFETY NORTH FACILITY; AND PROVIDING AN EFFECTIVE DATE. Agenda Item No. 41. Resolution No. 09-005, Approve and authorize publication of notice of intention to issue certificates of obligation for capital improvement projects. A REGULAR CITY COUNCIL MEETING MINUTES, FEBRUARY 3, 2009 Page 3 of 7 w C presentation was not made on this item. In accordance with Section 4.21 of the City Charter, the caption for this item is listed as follows: A RESOLUTION APPROVING AND AUTHORIZING PUBLICATION OF NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION. Agenda Item No. 4J. ZA07-144, Site Plan for Lot 1, Players Circle on property being legally described as Lot 1, Block 1, Players Circle Addition and being located at 1901 West Southlake Boulevard. Current Zoning: C3 General Commercial District. SPIN Neighborhood #16. This item was tabled to the February 17, 2009 City Council meeting. Agenda Item No. 4K. Ordinance No. 480-579, 1st Reading (ZA08-062), Zoning Change and Concept Plan for 520 South White Chapel Boulevard on property being described as Tract 3E, Hiram Granberry Survey, Abstract No. 581 and being located at 520 South White Chapel Boulevard. Current Zoning: AG Agricultural District. Requested Zoning: SF-20A Single Family Residential District. SPIN Neighborhood #14. This item was tabled to the February 17, 2009 City Council meeting. Agenda Item No. 6A. Ordinance No. 480-578, 2nd Reading (ZA08-075), Zoning Change and Development Plan for Ridgeview at Southlake being Tracts 2A, 2A1, 2A5C, and 2A6, W.R. Eaves Survey, Abstract No. 500 and Tracts 1 and 1C, Thomas J. Thompson Survey, Abstract No. 1502 and located at 505, 507, 511, 515, and 519 Davis Boulevard. Current Zoning: AG Agricultural District, S-P-1 Detailed Site Plan District, and SF-20A citio Single Family Residential District. Proposed Zoning: TZD Transition Zoning District. SPIN Neighborhood #16. This item was tabled to the February 17, 2009 City Council meeting. Agenda Item No. 6B. ZA08-102, Preliminary Plat for Ridgeview at Southlake being Tracts 2A, 2A1, 2A5C, and 2A6 W.R. Eaves Survey, Abstract No. 500 and Tracts 1 and 1 C, Thomas J. Thompson Survey, Abstract No. 1502 and being located at 505, 507, 511, 515, and 519 Davis Boulevard. Current Zoning: AG Agricultural District, S-P-1 Detailed Site Plan District, and SF-20A Single Family Residential District. Proposed Zoning: TZD Transition Zoning District. SPIN Neighborhood #16. This item was tabled to the February 17, 2009 City Council meeting. Agenda Item No. 9A. Approve the conceptual design for park monument signaqe. 9 pp P 9 Director Tribble presented this item during the work session and answered Council's questions. Motion was made to approve consent agenda items 4A; 4B; 4C; 4D; 4E; 4F; 4G; 4H; 41; to table item 4J to the February 17, 2009 City Council meeting; to table item 4K to the February 17, 2009 City Council meeting; to table item 6A to the February 17, 2009 City Council meeting; to table item 6B to the February 17, 2009 City Council meeting; and to approve item 9A. Motion: Muzyka Second: Terrell REGULAR CITY COUNCIL MEETING MINUTES, FEBRUARY 3, 2009 Page 4 of 7 C •C Ayes: Muller, Muzyka, Stansell, Terrell, Wambsganss ..• Nays: None Approved: 5-0 REGULAR AGENDA: Agenda Item No. 5. Public Forum. Mayor Wambsganss opened the public forum. No one spoke during public forum. Agenda Item No. 6C. Ordinance No. 480-197a, 2nd Reading (ZA08-111), Zoning Change and Site Plan for Snow's Gymnastics Center on property being described as Lot 9, J.G. Allen No. 18 Addition and being located at 401 and 407 South Pearson Lane. Current Zoning: S-P-1 Detailed Site Plan District. Requested Zoning: S-P-1 Detailed Site Plan District. SPIN Neighborhood #15. Director Baker presented this item in conjunction with item 6D to Council and answered their questions. Applicant Debbie Snow, 404 South Pearson Lane, Southlake, Texas answered Council's questions. In accordance with Section 4.21 of the City Charter, the caption for this item is listed as follows: AN ORDINANCE AMENDING ORDINANCE NO. 480, AS AMENDED, THE COMPREHENSIVE ZONING ORDINANCE OF THE CITY OF SOUTHLAKE, TEXAS; GRANTING A ZONING CHANGE ON A CERTAIN TRACT OR TRACTS OF LAND WITHIN THE CITY OF SOUTHLAKE, TEXAS, BEING APPROXIMATELY 3.00 ACRES [itar SITUATED IN JESSE G. ALLEN SURVEY, ABSTRACT NO. A-18, TRACTS 4A15, 4A16A, AND 4A18, AND MORE FULLY AND COMPLETELY DESCRIBED IN EXHIBIT "A" FROM "S-P-1" DETAILED SITE PLAN TO ALLOW GYMNASTICS, SWIMMING, DIVING, DANCE, MARTIAL ARTS INSTRUCTION, ARCHERY RANGE, AFTER- SCHOOL CARE, SUMMER CAMP PROGRAMS, PRO-SHOP, AND OTHER RELATED BUSINESSES TO "S-P-1" DETAILED SITE PLAN TO ALLOW GYMNASTICS, SWIMMING, DIVING, DANCE, MARTIAL ARTS INSTRUCTION, ARCHERY RANGE, AFTER-SCHOOL CARE, SUMMER CAMP PROGRAMS, PRO-SHOP, AND OTHER RELATED BUSINESSES AS DEPICTED UPON THE SITE PLAN ATTACHED HERETO AS EXHIBIT "B" AND SUBJECT TO THE SPECIFIC REQUIREMENTS CONTAINED IN THIS ORDINANCE; CORRECTING THE OFFICIAL ZONING MAP; PRESERVING ALL OTHER PORTIONS OF THE ZONING ORDINANCE; DETERMINING THAT THE PUBLIC INTEREST, MORALS AND GENERAL WELFARE DEMAND THE ZONING CHANGES AND AMENDMENTS HEREIN MADE; PROVIDING THAT THIS ORDINANCE SHALL BE CUMULATIVE OF ALL ORDINANCES; PROVIDING A SEVERABILITY CLAUSE; PROVIDING FOR A PENALTY FOR VIOLATIONS HEREOF; PROVIDING A SAVINGS CLAUSE; PROVIDING FOR PUBLICATION IN THE OFFICIAL NEWSPAPER; AND PROVIDING AN EFFECTIVE DATE. Motion was made to approve Ordinance No. 480-197a, 2nd Reading (ZA08-111), Zoning Change and Site Plan for Snow's Gymnastics Center subject to Site Plan Review Summary No. 1, dated December 26, 2008 granting the requested variances; stipulating Limy REGULAR CITY COUNCIL MEETING MINUTES, FEBRUARY 3, 2009 Page 5 of 7 p C that the applicant has agreed to grant the City a ten-foot easement; and further stipulating that once a site plan is submitted the sidewalk will need to be installed. 1..•v Motion: Stansell Second: Muzyka Ayes: Muller, Muzyka, Stansell, Terrell, Wambsganss Nays: None Approved: 5-0 Agenda Item No. 6D. ZA08-096, Plat Revision for Lots 9R1 and 9R2, J.G. Allen No. 18 Addition (Snow's Gymnastics Center) on property being a revision of Lot 9, J.G. Allen No. 18 Addition and being located at 401 and 407 South Pearson Lane. Current Zoning: S-P-1 Detailed Site Plan District. Proposed Zoning: S-P-1. SPIN Neighborhood #15. Director Baker presented this item in conjunction with item 6C to Council and answered their questions. Applicant Debbie Snow, 404 South Pearson Lane, Southlake, Texas answered Council's questions. Motion was made to approve ZA08-096, Plat Revision for Lots 9R1 and 9R2, J.G. Allen No. 18 Addition (Snow's Gymnastics Center) subject to Plat Review Summary No. 2, dated December 26, 2008 stipulating that the easements the applicant has agreed to will be noted on the plat revision. Motion: Stansell Second: Muzyka Et Ayes: Muller, Muzyka, Stansell, Terrell, Wambsganss Nays: None Approved: 5-0 Mayor Wambsganss called for a short break at 8:17 p.m. to wait for the applicant to Pp arrive for item 7A. Mayor Wambsganss reconvened the meeting at 8:24 p.m. Agenda Item No. 7A. Ordinance No. 480-187b, 1st Reading (ZA08-109), ZoningChange 9 9 and Site Plan for The Spanish Schoolhouse at the 280 Sports Complex on property being described as Lot 2R, Block B, Commerce Business Park Addition and being located at 280 Commerce Street. Current Zoning: S-P-1 Detailed Site Plan District. Requested Zoning: S-P-1 Detailed Site Plan District. SPIN Neighborhood #7. Director Baker presented this item to Council and answered their questions. Applicant Christie Abercrombie, 1420 Danbury Parks Drive, Keller, Texas answered Council's questions on this item. Council discussed this request. Motion was made to approve Ordinance No. 480-187b, 1st Reading (ZA08-109), Zoning Change and Site Plan for The Spanish Schoolhouse at the 280 Sports Complex specifically with the following requirements: this use will be limited to the 6,000 s.f. as proposed in the revised site plan received on February 3, 2009; the playground equipment must be installed to meet City code and requirements; the applicant has agreed to look at installing a six-foot wrought iron and stone column fence around the playground area and will present that information with the next reading as well as including the appropriate safety and support information. REGULAR CITY COUNCIL MEETING MINUTES, FEBRUARY 3, 2009 Page 6 of 7 C Motion: Stansell 1. 4w Second: Muzyka Mayor Wambsganss asked to see good representations of what the playground area will look like and asked for it to be received in time for Council to get it with their packet information. Ayes: Muzyka, Stansell, Terrell, Wambsganss Nays: Muller Approved: 4-1 Agenda Item No. 11. Meeting adjourned. Mayor Wambsganss adjourned the meeting at 8:47 p.m. *An audio recording of this meeting will be permanently retained in the City Secretary's Office. Andy Wambsganss Mayor ft ATTES • Lori Payne, TRMC } ' a _ City Secretary v iiii C C C REGULAR CITY COUNCIL MEETING MINUTES, FEBRUARY 3, 2009 Page 7 of 7 a 0;1 ._.. .. . .„ . ' „. .___ .,.., !I IL AKE c I Storm Water Management I A presentation to • • City Council ,nt Planning & Zoning Commission egrity Innovation bythe AccountabilityQuality Development Focus Area Cabinet Commitment to Excellence January 27, 2009 Teamwork — I © City of Southlake Strategy Map li of The City of Southlake provides municipal services that support the highest quality Fulfill Our life for our residents and businesses. We do this by delivering outstanding value and Mission unrivaled quality in everything that we do. Deliver on Our and Security Mobility Infrastructure Performance Service Deageement ry Devvelopment andartners Partnerships or Focus Areas C1 Achieve the C2 Provide travel C3 Provide attractive C4 Attract and keep top-tier Serve Our highest standards of convenience within and unique spaces for businesses to drive a Customers safety and security city and region enjoyment of personal dynamic and sustainable interests economic environment B1 Implement and ii 2 Collaborate vvit'S B3 Purr sue B4 Provide high B5 Optimize Manage the share best practices select partners to innovative service quality customer use of Business lit, all departure implement service delivery options service technology `solution • ` Provide F1 Achieve F2 Maintain or F3 Invest to provide an• F4 Maximize return Financial competitive financial improve AA bond maintain high quality on investments Stewardship benchmarks rating `public assets Promote L1 Ensure our L2 Enhance L3 Attract, L4 Recognize L5 Actively promote people understand leadership develop and and opportunities for partnerships Learning he strategy and ho capabilities to retain a skilled reward high and volunteer involvement I and Growth they contribute to it deliver results workforce •-rformers (individual and group) Live Our ore T: :: Integrity • Innovation•Accountability• Commitment to Excellence• Teamwork IF°11) 1 Presentation • Review fundamentals • Overview regulatory environment • Identify roles and responsibilities • Outline strategy and funding • Discuss public policy issues - r-q • Answer legal questions - b - OUTH LAKE Fundamentals • C I(Y CAI SOUTHLAKE 2 Fundamentals: FAQs National Flood Insurance Program ' Frequently Asked Questions • l QSOUTHLAKE I Fundamentals: Key Terms I lb • Glossary of Terms • Examples: — Hydrology — Hydraulics r — Impervious CoverageI lb — Storm Water Runoff r h Q SOUTHLAKE it R 3 i Fundamentals: Key Terms • 100 yr Storm — a storm that has 1 in 100 or 1 % chance of occurrence in any year • 10 yr Storm - a storm that has 1 in 10 or 10% chance of occurrence in any year • 2 yr Storm - a storm that has 1/2 or 50% chance of occurrence in any year ,I I1'lf SOUTHLAKE 100-Year Flood Plain < >< >< > Flood Floodway Flood Fringe Fringe ram r.-- FIRM n1M I MMO MI■• :wr , Twa Mm mmnronaa�noeu rarer Ir•NMI 41111101111 �Li �' Flood Plain Graphic 4 Fundamentals: Detention vs. Retention • Designed for 100 year storm • Retention — Permanently restrains flow of water. tGenerally provided for aesthetic purposes • Detention — Temporarily restrains flow of water ' to reduce downstream impact • Staged Discharge tQ SOUTHLAKE • 0 Retention Pond (with detention) I . Outfall Structure(High Flow) Outfall Structure(Low Flow) • Detention Component(City) Retention Component(HOA) ' HOA Responsibility City Responsibility Public Drainage Easement(City Responsibility) < Private Amenity—Retention Pond (HOA Direction of Flow kb . �. I III• Detention component (City Responsibility) I Ouffall Structure Retention component (HOA/POA Responsibility) I Developer Agreement(Amenity) 4 I Allit- Funda a tals: Major Basins N 1 i .� u,..p s Ij. --A\ '1 . s\.' a Legend := p r v .!. . ---�.1 _I-- Lake Grapevine Ann . ......Drainage Divide ' ' l'''' -411-11L- ' w-V, -# -•-...-41,--IrrArd":•:j _i 6 Regulatory Environment st 1 I - � Regulatory Environment National Flood Insurance Program (NFIP) Administered by FEMA Southlake — NFIP participant since Feb 1974 Floodplain development/enforcement Administered by FEMA (USACOE possible involvement) City of Southlake — Enforcement Authority Environmental Quality of Creeks/Streams EPA TCEQ Ci of Southlake Phase I I munici•alit 0 CIIY OF SOUTHLAKE I I. + 1 Regulatory Environment • Texas Water Law ' — Cannot divert or block natural flow of water — Cannot adversely impact other property ' owners 411 (II l)F v - SOUTHLAKE I Regulatory Environment City Ordinances — Drainage Ordinances (217, 461 and 605) — Storm Water Utility (900 and 901 ) — Critical Drainage Structure Report — Storm Water Management Plan — Erosion Control Ordinance for Construction — Illicit Discharge Ordinance (Future) — Post Construction BMP Ordinance (Future) III' OI SOUTHLAKE 8 1 . I I Roles & Responsibilities p n ,rot ▪ MI I ■ Roles & Responsibilities ■ City Council and P&Z Pre-Plans Site Plan/Zoning Released ■ I I I I I DRC Construction Inspection& ■ Documents Certification Staff Staff ■ . 1 I Roles & Responsibilities: Staff • Draft/recommend proposed policy • NFIP/Floodplain administrator/ Enforcement ' • Review developments for compliance ' • Administer Storm Water Management Plan • Master Drainage Plan ' • CIP Implementation • Education outreach/ Information source • Storm water system maintenance Roles & Responsibilities: Elected/Appointed Officials • Consider/adoption/establishment of — City drainage policy/ ordinances — Master Drainage Plan • Ensure proposed land development is consistent with Master Plans, ordinances and regulations • City Council adopts budget for CIP drainage related projects • Adopt storm water utility operating budget 10 Roles & Responsibilities: Property Owner Per Section 9.02, Ordinance 605: • Maintain all creeks/natural drainage ways and all ' unimproved drainage easements on private property • Maintain borrow ditches and culverts — Periodic removal of underbrush, trash and debris, mowing and general upkeep of borrow ditch to maintain positive flow of storm water within ditch and culvert is lR I Storm Water Management In Southlake Strategies & Funding ft aGo. N fi 411)11 Storm Water Management and Funding 402 Localized $ 26,482,772 A__. 17 Secondary $ 5,753,810 WLp 20 Primary $ 19,679,074 � - .„ $ 51,915,656* �„at i. ,.�' r aWNk av,Atier 1 �. .r 2006 estimate jr41144M'Fr ty _ iJ ' 't Storm Water Management and Funding Storm Water Utility District — Adopted October 2006 — Residential Parcels: • $8/month fee — Non-Residential Parcels: • Fee = Allocated Portion of Parcel in square feet (SF) times residential monthly rate/s.f. 12 Storm Water Management and Funding ' Cost-of-Service • Operations and Maintenance • Flood Control • Water Quality Broad Use of Funds • Existing Stormwater Problems • Future Improvements in Bond Capacity I Storm Water Management and Funding Drainage Projects Funded 13.4% . Additional Drainage Projects Remaining 86.6% . I 13 6111 Storm Water Management and Funding Storm Water Utility District Collections Fiscal Year Residential Commercial TOTAL 2007 $687,899 $329,871 $1,017,770 2008 $795,611 406,327 $1,201,938 2009 *$257,116 *$149,271 *$406,387 $2,626,095 *To Date Storm Water Management and Funding • Capital Projects — Dove Drainage - $2.5 million • 2300 L.F. of 8' x 5' Box culvert— 100 yr storm • Debt service - $225,000/year • Operational Items — Borrow Ditch cleaning:10,000 LF — Culvert Installations: 1500 LF (various sizes). — Culverts cleaned and jetted: 3000 LF — Cubic yards sediment and debris removed: 15,000 CY 14 Operational Issues (Cont'd) • Sod and hydro-mulch installed/cast: 11 ,000 SY • Rip rap material used for erosion in drainage channels/Creeks: 800 TON • Silt fence installed: 3000 LF • Catch basins installed: 5 units. • Exposed aggregate concrete flumes installed: 8,500 SF • Concrete channels cleaned: 3,000 LF Public Policy Issues 15 Public Policy Issues • Public Versus Private Water — An Issue of Responsibility • Funding Challenges — Project Prioritization — Storm Water Utility District — Supplemental Funding Sources • Community Rating System Legal Framework 16 I r I r Discussion r C. a Z .. _ I p r p I I r r I r17 I ' 6000 WESTERN PLACE,SUITE 200 carr Olso Adkins Sralla Elam TELEPHONE:(817)332-2580 I or AT oxra,TEXAS ROAD TOLL FREE:(800)318-3400 FORT WORTH,TEXAS 76107 4654 FACSIMILE:(817)332-4740 o :TOASE@TOASE.COM Attorneys 4 Counselors WEBSITE:WWW.TOASE.COM ITIM G.SRALLA Certified Civil Appellate Law Specialist extension 228 Texas Board of Legal Specialization tsralla@toase.com IFebruary 3, 2009 I CONFIDENTIAL ATTORNEY/CLIENT PRIVILEGE VIA HAND DELIVERY IMayor and City Councilmembers City of Southlake I 1400 Main Street Southlake, Texas 76092 IRe: Legality of Executive Session Posting Dear Mayor and Councilmembers: 11110 You have asked our office to review the executive session posting for the October 7,2008, regular city council meeting. It is my understanding that the following executive session has been posted for the requisite time: IA. Executive Session: Pursuant to the Open Meetings Act, Chapter 551, Texas Government Code, Sections 551.071, 551.072, 551.073, 551.074, 551.076, 551.087, 418.183(f), I and 418.106(d) & (e). Refer to posted list attached hereto and incorporated herein. Executive Session may be held,under these exceptions,at the end of the Regular Session or at any time during the meeting that a need arises for the City Council to seek advice from the City IAttorney as to the posted subject matter of this City Council meeting. 1. Section 551.071: Consultation with attorney a. Seek advice of the city attorney on city-initiated rezonings. I2. Section 551.072: Deliberation regarding personnel matters a. Deliberation of appointments of city board and commission Imembers. 3. Section 551.087: Deliberation regarding economic development I negotiations a. Economic incentives for businesses. I Section 551.071: Consultation with attorney. The City Council may conduct a private consultation with its attorney when the City Council seeks the advice of its attorney concerning any item on this agenda,about pending and contemplated litigation,or a settlement offer,or on a matter 0 in which the duty of the attorney to the City Council under the Texas Disciplinary Rules of ' February 3, 2009 Page 2 riv ' Professional Conduct of the State Board of Texas clearly conflicts with Chapter 551.This includes the following pending and/or contemplated litigation subjects: 1. James Lancaster and wife, Catherine Lancaster vs. Gary M. Gordon d/b/a Gordon Taylor Custom Homes,Carleo A.Capili and wife,Regina Capili and John R.Griggs and wife,Sally ' 2. Griggs,Jill T. Gordon, and City of Southlake. July 2004. Michael Kenny vs. City of Southlake. April 2008 3. Jayson Steele vs. City of Southlake. August 2008. ' Section 551.072: Deliberation regarding real property. The City Council may conduct a closed meeting to deliberate the purchase, exchange, lease or value of real property. ' Section 551.073: Deliberation regarding prospective gift or donation. The City Council may conduct a closed meeting to deliberate a negotiated contract for a prospective gift or donation to the City. Section 551.074:Deliberation regarding personnel matters. The City Council may deliberate the appointment, employment, evaluation, reassignment, duties, discipline, or dismissal of public officers,including the City Manager,City Secretary,City Attorney,Municipal Judge and city boards and commission members. A complete list of the city boards and commissions is on file in the City Secretary's Office. ' Section 551.076: Deliberation regarding security devices. The City Council may deliberate the deployment, or specific occasions for implementation of security personnel or devices. Section 551.087:Deliberation regarding economic development negotiations. The City Council may discuss or deliberate regarding commercial or financial information received from a business prospect that the city seeks to have locate, stay, or expand in or near the city and which the City is ' conducting economic development negotiations; or to deliberate the offer of a financial or other incentive to a business prospect as described above. Section 418.183(f): Texas Disaster Act. The City Council may deliberate information: 1) for ' purposes of preventing,investigating,or responding to an act of terrorism or related criminal activity and involving emergency response providers,their staffing,contact information and tactical plans; ' 2)that relates to the risk or vulnerability of persons or property, including infrastructure, to an act of terrorism; 3)that relates to the assembly of an explosive weapon,the location of a material that maybe used in a chemical,biological or radioactive weapon,or unpublished information pertaining ' to vaccines or devices to detect biological agents or toxins;4)that relates to details of the encryption codes or security keys for a public communication system;5)that relates to a terrorism-related report to an agency of the United States; 6)that relates to technical details of particular vulnerabilities of ' critical infrastructure to an act of terrorism;7)that relates to information regarding security measures or security systems intended to protect public and private property from an act of terrorism. The Texas Disaster Act specifically requires that a tape recording of the closed meeting be made. ,® le February 3, 2009 Page 3 i Section 418.106(d) & (e): Local meetings to discuss emergency management plans retarding pipeline safety. The City Council may discuss emergency management plans involving pipeline safety and/or security of pipeline infrastructures or facilities when those plans or discussions contain such sensitive information. If you have any additional questions or concerns,pl e feel free to contact our office. Sincerely, C '141 L Tim G. Sralla TGS/as cc: Ms. Shana Yelverton City of Southlake 1400 Main Street kr Suite 460 Southlake, Texas 76092 Ms. Lori Payne City of Southlake 1400 Main Street Suite 270 Southlake, Texas 76092 I r II I 11 41 1 Sao Iwpi ® Nis ME Mil ® ® ® r ® I I MI IIIII OM ■ SOUTHLAKE rtS1 Finance { Quarterly Review For the period ended Integrity I December 31 2008 Innovation Accountability Commitment to Excellence Teamwork r 1 7 CITY OF i ". il t TEXAS 1 1 I Finance Department's Quarterly , I For the period ended December 31 , 2008 I /Li, L E L City of Southlake L January 2009 L 7Integrity♦ Innovation • Accountability ♦ Commitment to Excellence ♦ Teamwork j I I To: Shana Yelverton, City Manager Jim Blagg, Assistant City Manager From: Sharen Jackson, Finance Director Re: First Quarter FY 2009 Financial Report Date: January 28, 2009 b r The finance department is pleased to submit a financial report for the first quarter of FY 2009 for the period ended December 31, 2008. This report contains financial statements for the City's operating funds, status reports of the Capital Projects and a report of the City's Investment portfolio. t � GENERAL FUND REVENUES Property tax. In the General Fund, $6,340,509 of $15,847,240 or 40.0% of budgeted property tax has been collected. Since property tax bills are delinquent as of February 1, most tax collections are received in the first four months of the fiscal year. It is anticipated that collections will meet projections. Tarrant County has collected the City's taxes since 1982. he Sales tax. Sales tax budgeted for Fiscal Year 2009 is $8,955,000. For FY 2009 first quarter (October and November) the City has collected $1,561,048 in sales tax. This is 17.4% or $206,767 above the projected amounts to date. The significant increase is due o" to budget collections are net Grand Avenue 380 agreement and actual collections include 100% of Grand Avenue collections sales tax. t" Franchise fees. Franchise fees include amounts received for use of public rights of way from utility companies. To date the City has received $166,329 of$2,699,848 budgeted. FY 2009 collections are comparable to prior year's collections. A large portion of the franchise fees are collected in the fourth quarter of the fiscal year. Tri-County pays their second semi-annual payment in July. Historically, Oncor made an annual payment in September but recently Oncor began making quarterly payments. Fines/Forfeitures. Revenues from Fines and Forfeitures are $194,092,which is 19.4% of the $1,000,000 budgeted. This revenue source depends on many variables, such as the I number of citations issued, warrants issued and collected, plus the number of cases Lassigned to deferred adjudication. Citation volume is higher for first quarter FY 2009 compared to first quarter FY 2008. Citation volume is expected to remain consistent and revenues from fines are anticipated to meet budget. Charges for services. This category includes revenue from ambulance transport, recreation class fees, and amounts received from the Cities of Grapevine and Colleyville for participation in the Teen Court program. Revenues to date total $132,677, compared with $114,113 collected for the same period in the prior year. The majority of the revenue for this category is seasonal and collected during the summer months. It is Ianticipated that revenue from Charges for Services will be within budgeted amounts. Permits/fees. Revenues from permits and fees are $421,812 or 30.3% of the budgeted Iamount of $1,392,750. This is more than $381,362 collected as of December 31, 2007. 21 residential permits have been issued to date compared to 34 issued in the prior fiscal year's first quarter. The largest increase in permits/fees revenue is due to the increased Ivalue in commercial permits issued during the first quarter FY 2009. 7 and 2 commercial permits were issued for the first quarter December 31, 2008 and December 31, 2007, respectively. Miscellaneous. This o s category includes amounts from tower leases, the 10/o administrative fee retained from Municipal Court State taxes remitted quarterly to the kr Comptroller, and library fees/fines. The City has received $127,874 to date. Revenues from miscellaneous income will meet the $746,238 budgeted. IInterest income. Interest earnings to date total $65,492. It is anticipated that interest income will be within budgeted amounts. II GENERAL FUND EXPENDITURES I ip For the first quarter ended December 31, 2008 of the fiscal year, General Fund total expenditures are $7,536,384 or 23.8% of the $31,713,160 budget. A brief discussion of each department will follow, providing a summary explanation of major expenditures I trends. General government department. Department expenditures for the City Secretary's COffice, Human Resources, City Manager's Office and Support Services total $1,603,593 which is 26.8% of budget. Personnel, legal services and utility expenditures are on target with budget. Therefore it is anticipated that expenditures in General Government will be Iwithin the amount budgeted. IFinance department. For the Finance, Municipal Court, Teen Court Divisions, total expenditures to date are $337,379 or 17.2% of the $1,959,270 budgeted. Personnel, operations and capital expenditures are within budget. I 4L LI Public safety department. Total expenditures for Police Services, Fire Services, and L Public Safety Support, are $3,390,249, which is 27.2% of the $12,486,768 budgeted. Currently,public safety expenditures are within budget and on target for the fiscal year. Public works department. Budgeted within this department are Streets/Drainage and Public Works Administration. Expenditures to date are $605,481 or 20.8% of the $2,910,285 budgeted. Personnel, operations and capital expenditures are within budget. Planning and development department. Total expenditures for Planning and building inspections are $427,874 or 20.6% of the $2,079,589 budgeted for the year. Expenditures in the Department are within budgeted. Economic development department. The department has expended $101,450, or 28.4% of the $357,302 budgeted for the year. Expenditures in the Department are within budget. Community services department. Total expenditures for Community Services, Parks and Recreation, and Library Services are $1,070,358 or 18.0% of the $5,938,877 budgeted. Personnel expenditures are on target with budget. There is $259,240 allocated for contract landscape/mowing for parks and municipal sites with the majority of the mowing during the summer months, consequently minimal expenditures have been made on this line item. Many of the recreation programs are planned for the summer months, therefore minimum expenditures for revenue-supported contract instructors have been spent through December. Expenditures in the Department are expected to be within budget projections. WATER AND SEWER ENTERPRISE FUND I Revenues. As of December 31, 2008, the City has received $4,659,797 or 23.4% in revenues of the $19,948,000 estimated. This is comparable to $4,528,708 received through December of last year. The majority of revenue is received in the summer months. Total revenues for the year will most likely be within budget or slightly higher. Expenses. The City has expended $1,341,927 or 10.7% of the $19,823,956 budgeted for personnel, operations, capital, and debt services. Of the total expenses, $1,243,389 has been paid to the City of Fort Worth for treated water. STORMWATER ENTERPRISE FUND Revenues. On October 17, 2006, City Council approved Ordinance No. 900 and 901 establishing the Storm Water Drainage Utility System and establishing the fee respectively. As of December 31, 2008, the City has received $308,894 or 25.4% in revenue of the $1,215,000 estimated. C 1 I Expenses. The City has expended $264,326 or 31.17% of the $847,989 budgeted for ' personnel and operations. $107,600 expended for engineering contract services. DEBT SERVICE FUND Revenues. The City has received $2,848,636 in current and delinquent property taxes through December 31, 2008. This fund pays the property tax supported debt requirements for the City. The first semi-annual payments are due beginning February 2009. SOUTHLAKE PARKS DEVELOPMENT CORPORATION(SPDC) Operating Fund. As of December 31, 2008, $768,874 in the 1/2 cent sales tax has been II collected. SPDC sales tax receipts are 7.3% above estimates, or$52,022. I I CRIME CONTROL AND PREVENTION DISTRICT (CCPD) Operating Fund. As of December 31, 2008, $756,259 in the Y2 cent sales tax has been IIL collected. Sales tax receipts are 4.9% above estimates, or$36,421. IPARK DEDICATION FEE FUND Revenues. The City has collected $6,056 of the $60,000 budgeted for the year. This Irevenue source varies depending on the number of developments during a fiscal year, and the park dedication fee credits given, if any, for open space and amenities. ' INCREMENT FINANCIAL DISTRICT (TIF) TAX (T II Revenues. To date TIF has not received any revenues for the fiscal year. Historically, the TIF revenues are not collected until the third quarter of the fiscal year. STRATEGIC INITIATIVE FUND 4 I Expenditures. As of December 31, 2008, the expenditures were $110,541 for urban design and software conversion. Ii ` HOTEL OCCUPANCY FUND Revenues. The City has collected $78,619 or 12.2% in revenue of the $646,313 ' budgeted for the year. The Hotel Occupancy Tax is authorized under the Texas Tax Code, Chapter 351. The City of Southlake adopted Ordinance No. 769 in February 2000, levying a 7% tax on room receipts. The Hilton Hotel in Town Square opened in June ' 2007. Expenditures. As of December 31, 2008, the expenditures were $21,150 for marketing and promotion. ' I II 1 � , I L I GENERAL FUND I Statement of Revenues,Expenditures and Changes in Fund Balance for the period ended December 31,2008 with comparative actual amounts for the period ended December 31,2007 li4) (fiscal month 3-25.00%) Percen I Year to Date 2009 Collecte• Year to Date REVENUES 12/31/2008 Budget Expended 12/31/2007 Ad Valorem Taxes $6,340,509 $15,847,240 40.0% $5,456,711 I Sales Tax 1,561,048 8,955,000 17.4% 1,543,868 Franchise Fees 169,329 2,699,848 6.3% 122,325 Fines 194,092 1,000,000 19.4% 155,281 Charges for Services 132,677 912,686 14.5% 114,113 IPermits/Fees 421,812 1,392,750 30.3% 381,362 Miscellaneous 127,874 746,238 17.1% 98,745 Interest Income 65,492 500,000 13.1% 86,052 I Total Revenues $9,012,833 $32,053,762 28.1% $7,958,457 EXPENDITURES City Secretary $81,288 $398.346 20.4% $80,601 Human Resources 118,726 66,154 21.0% 125,731 ICity Manager 129,320 562,308 23.0% 115,574 Support Services 1.274.259 4,454.261 28.6% 1.211.877 General Government Total 1,603,593 5,981,069 26.8% 1.533,783 I Finance 174,047 1,162,978 15.0% 397,881 Municipal Court 137,751 670,163 20.6% 116,948 Municipal Court-Teen Court 25,581 126.129 20.3% 27.251 Finance Total 337,379 1,959,270 17.2% 542,080 Fire 1,201,778 5,201,831 23.1% 1,007,437 Police 1,205,968 5,405,817 22.3% 1,321,757 Public Safety Support 982.503 1,879,120 52.3% 377.126 I Public Safety Total 3,390,249 12,486,768 27.2% 2,706,320 Streets/Drainage 365,388 1,763,996 20.7% 511,279 Public Works Administration 240.093 1.146.289 20.9% 227.555 I Public Works Total 605,481 2,910,285 20.8% 738,834 Building Inspections 217,134 1,057,610 20.5°/ 158,154 Planning 210.740 1,021,979 20.6% 163.190 I Planning and Dev Total 427.874 2,079.589 20.6% 321,344 Economic Development 101,450 357,302 28.4% 71,896 Economic Development Total 101,450 357,302 28.4% 71,896 Community Services 72,616 568,472 12.8°/ 103,003 I Parks and Recreation 849,073 4,728,851 18.0% 934,211 Library Services 148,669 641.554 23.2% 153.480 Community Services Total 1,070,358 5.938.877 18.0% 1,190,694 I Total Expenditures $7,536,384 S31.713.160 23.8% $7,104,951 Excess(deficiency)of Revenue over Expenditures $1,476,449 $340.602 $853,506 OTHER FINANCING I SOURCES AND(USES) Proceeds from lease/CO(net) $0 $0 $0 Transfer In-Other Funds 0 424,465 0 I Transfer To-Other Funds 0 0 0 Total Other Sources/(Uses) $0 $424,465 $0 Excess(deficiency)of IP Revenues/other sources over Exp. $1.476.449 $765,0$0 $853.506 FUND BALANCE OCT 1 $7,347,683 Change in reserved fund balance $0 ENDING FUND BALANCE $8.112,750 I fund balance percentage 25.58% I WATER ANT)SEWER ENTERPRISE FUND I Comparative Statement of Revenues and Expenses for the period ended December 31.2008 and December 31,2007 (fiscal month 3-25.00%) 10.6 ' ill Percen Year to Date e I REVENUES 12/31/2008 Budget2009 Coll Expendeette Year l2/31to/2Dat007 Water Sales-residential $2.394,041 $10,600,000 22.6°/ $2,310,041 Water Sales-commercial 841.150 3,400,000 24.7°/ 797,996 0 1 Sewer Sales 1,093,377 4,100,000 26.7°/ 1,031,135 Sanitation Sales 246,701 1,100,000 22.4°/ 252,479 Other utility charges 5.802 342.000 1.7°/ 75,038 Miscellaneous 13,268 106,000 12.5°/ 13,774 Interest Income 65.458 300.000 21.8°/ 48.245 Total Revenues $4,659,797 $19,948,000 23.4°/ $4,528,708 EXPENSES Water $1,341,927 $10,494,144 12.8°/ $1,299,315 Utility Billing 95,064 429,981 22.1°/ 127,239 Sewer 525,738 2,062,331 25.5°/ 396,461 Sanitation 161,038 862,970 18.7°/ 85,569 I Debt Service 0 5.974.530 0.0°/ 0 Total Expenses $2,123,767 $19,823,956 10.7°/ $1,908,584 Excess(deficiency)of C Revenue over Expenses $2.536.030 $124.044 $2.620.124 OTHER FINANCING SOURCES AND(USES) Transfer In-Other Funds $0 $0 IL Developer Contributions $0 $50,000 $0 Transfer Out-Other Funds 0 (388.038) 0 Total Other Sources/(Uses) $0 ($338,038) $0 IExcess(deficiency)of Revenues and other sources over Expenses $2.536.030 ($213.994) $2.620.124 4 E ' I I I I L CITY OF SOUTHLAKE 1% SALES TAX REPORT 2009 Collected Budget Balance L - Budget to Date Balance Percent $ 8,755,000 $1,561,048 ($7,193,952) -82.17% LFISCAL FISCAL FISCAL YEAR % Inc YEAR % Inc YEAR %Inc MONTH 2007 -Dec 2008 -Dec 2009 -Dec L October 674,934 -27.7% 686,499 1.7% 789,287 15.0% November 619,509 19.0% 802,417 29.5% 771,761 -3.8% December 1,106,026 34.4% 1,174,260 6.2% 0 -100.0% C January February 559,469 11.9% 760,276 619,828 35.9% 0 -100.0% 611,242 28.1% 1.4% 0 -100.0% March 804,752 9.7% 856,010 6.4% 0 -100.0% April 664,768 7.3% 749,508 12.7% 0 -100.0% May 744,258 17.6% 787,336 5.8% 0 -100.0% June 828,321 -7.9% 917,099 10.7% 0 -100.0% July 715,342 40.3% 751,045 5.0% 0 -100.0% 1 August 672,614 4.7% 657,387 -2.3% 0 -100.0% September 810,258 4.8% 863,712 6.6% 0 -100.0% TOTAL $8,811,494 $9,625,378 $1,561,048 I Three Year Revenue Comparison by Month 1,200,000 i - 1411 1,000,000 800,000 I 600,00o I I r I I I II I II 1 I 400,000 1 t 1 I II I : I I I 200,000 0 00 00 00 00 � o,:b o0 00 00 0°' o0 00 O°~I °, p�C lac ' ,§ PQ `°� �s� �J\ PsP �eQ 0 FISCAL YEAR 2007 ■FISCAL YEAR 2008 II FISCAL YEAR 2009 Actual Budget Actual Estimated (budget-est.) Month 2008 2009 2009 2009 Difference Change October(*) $686,499 $624,422 $789,287 $ 789,287 $ 164,864 26.40% November(*) $802,417 $729,858 $771,761 $ 771,761 $ 41,903 5.74% December(*) $1,174,260 $1,068,077 $0 $ 1,068,077 $ 0.00% January(*) $760,276 $691,528 $0 $ 691,528 $ - 0.00% L February(*) $619,828 $563,780 $0 $ 563,780 $ - 0.00% March(*) $856,010 $778,605 $0 $ 778,605 $ 0.00% April(*) $749,508 $681,734 $0 $ 681,734 $ 0.00% May(*) $787,336 $716,141 $0 $ 716,141 $ - 0.00% I June(*) $917,099 $834,170 $0 $ 834,170 $ - 0.00% July(*) $751,045 $683,132 $0 $ 683,132 $ 0.00% August(*) $657,387 $597,943 $0 $ 597,943 $ - 0.00% September(*) $863,712 $785,611 Q $ 785,611 $ - 0.00% i Ifr TOTAL $ 9,625,378 $ 8,755,000 $ 1,561,048 $ 8,961,767 $ 206,767 *Beginning April 2006 includes Grand Avenue sales tax collections per 380 agreement I 80%of collections will be distributed to Cooper&Stebbins i ( m L r SOUTHLAKE PARKS DEVELOPMENT CORPORATION L - 1/2% SALES TAX REPORT 2009 Collected Budget Balance LBudget to Date Balance Percent $ 4,634.228 $768.874 ($3,865,354) -83.41% L FISCAL FISCAL FISCAL YEAR %Inc YEAR %Inc YEAR %Inc MONTH 2007 -Dec 2008 -Dec 2009 -Dec October $332,430 -27.7% $338,127 1.7% $388,753 15.0% rs November 305,131 19.0% 395,220 29.5% $380,121 -3.8% December 544,759 34.4% 578,367 6.2% $0 -100.0% January 275,560 11.8% 374,464 35.9% $0 -100.0% February 301,059 28.1% 305,289 1.4% $0 -100.0% March 396,371 9.7% 421,617 6.4% $0 100.0% April 327,423 7.3% 369,161 12.7% $0 -100.0% May 366,575 17.6% 387,792 5.8% $0 -100.0% June 407,979 -7.9% 451,705 10.7% $0 -100.0% July 352,333 40.3% 369,918 5.0% $0 -100.0% August 331,288 4.7% 323,788 2.3% $0 -100.0% September 399,082 4.8% 425,411 6.6% IQ -100.0% L TOTAL $4,339,989 $4,740,858 $768,874 Three Year Revenue Comparison by Month cry $600,000 E $500,000 1 $400,000 { l $2DO,DDO 11111 m _ i $100,000 00 0`b ocb 00 00 0 00 0 00 00 0 0O°� dos OeCr )ce QeV �eC: PQt" �a� �s. �� P,A e9 ' 1❑FISCAL YEAR 2007 ■FISCAL YEAR 2008 ■FISCAL YEAR 2009 Actual Budget Actual Estimated (budget-est.) % 2008 2009 2009 2009 Difference Change October $338,127 $330,522 $388,753 $ 388,753 $ 58,232 16.40% November $395,220 $386,331 $380,121 $ 380,121 $ (6,210) -1.91% December $578,367 $565,358 $0 $ 565,358 $ 0.00% January $374,464 $366,042 $0 $ 366,042 $ - 0.00% February $305,289 $298,422 $0 $ 298,422 $ - 0.00% March $421,617 $412,134 $0 $ 412,134 $ 0.00% April $369,161 $360,858 $0 $ 360,858 $ 0.00% May $387,792 $379,070 $0 $ 379,070 $ - 0.00% C June $451,705 $441,546 $0 $ 441,546 $ - 0.00% July $369,918 $361,598 $0 $ 361,598 $ 0.00% August $323,788 $316,505 $0 $ 316,505 $ 0.00% September $425,411 $415,842 K) $ 415,842 $ - 0.00% LIMV TOTALS $ 4,740,858 $ 4,634,228 $ 768,874 $ 4,686,250 $ 52,022 I C SOUTHLAKE CRIME CONTROL AND PREVENTION DISTRICT 1/2% SALES TAX REPORT 2009 Collected Budget Balance I - Budget to Date Balance Percent $ 4,601,783 $756.259 (3.845.524) -83.57% I Fiscal Year Percent Fiscal Year Percent Fiscal Year Percent 2007 Increase/ 2008 Increase/ 2009 Increase/ MONTH Actual (Decrease) Actual (Decrease) Actual (Decrease) October $304,276 -34.01% $334,143 9.82% $352,123 5.38% November 308,020 19.01% 376,231 22.14% 404,136 7.42% December 523,323 40.69% 536,434 2.51% - -100.00% January 290,761 18.11% 362,682 24.74% - -100.00% L February 301,199 27.64% 299,335 0 62% - -100.00% March 382,088 13.60% 382,776 0.18% -100.00% April 311,411 2.68% 363,054 16.58% - -100.00% II May 359,218 14.26% 388,216 8.07% _ -100.00% June 389,658 7.73% 421,448 8.16% -100.00% July 348,010 36.36% 362,334 4.12% - -100.00% August 329,686 5.96% 318,847 -3.29% - -100.00% I September 374,527 10.05% 395,781 5.67% 100.00% TOTAL $4,222,177 $4,541,281 $756,259 — Three Year Revenue Comparison Iby Month $600,000 1111) $500,000 '$400,000 -! oe— li o .---- ' $300,000 A —"�' $200,000 , $100,000 lir I c§:) Ocb Ob 66 00 O°' O°' O°' Ocb �,' °' O°' O°` �o4 pec )ao Qe? jai PQk `1`a� �Ji �J PJO `�eQ ■Fiscal Year 2007 Actual 0 Fiscal Year 2008 Actual ■Fiscal Year 2009 Actual Actual Budget Actual Estimated (budget-est.) 2008 2009 2009 2009 Difference Change October $ 334,143 $ 338,595 $ 352,123 $ 352,123 $ 13,528 4.00% C. November $ 376,231 $ 381,243 $ 404,136 $ 404,136 $ 22,893 6.00% December $ 536,434 $ 543,581 $ $ 543,581 $ 0.00% January $ 362,682 $ 367,514 $ $ 367,514 $ 0.00% February $ 299,335 $ 303,323 $ - $ 303,323 $ - 0.00% March $ 382,776 $ 387,876 $ - $ 387,876 $ _ 0.00% April $ 363,054 $ 367,891 $ $ 367,891 $ 0.00% May $ 388,216 $ 393,388 $ - $ 393,388 $ - 0.00% June $ 421,448 $ 427,063 $ - $ 427,063 $ - 0.00% L July $ 362,334 $ 367,161 $ - $ 367,161 $ _ 0.00% August $ 318,847 $ 323,095 $ $ 323,095 $ 0.00% September $ 395,781 $ 401,054 $ - $ 401,054 $ - 0.00% TOTAL $ 4,541,281 $ 4,601,783 $ 756,259 $ 4,638,204 $ 36,421 L -- I I /' MN MN M r r r r - l - r r I r ' r r r r r t SOUTHLAKE Investment Portfolio Summary For the Quarter Ended December 31, 2008 Prepared By First Southwest Asset Management 7i MI I M lib IIIIII M City of South lake Quarterly Investment Report Investment Officers' Certification For the Quarter Ended December 31,2008 This report is prepared for the City of Southlake(the "City")in accordance with Chapter 2256 of the Public Funds Investment Act("PFIA"). Section 2256.023(a) of the PFIA states that "Not less than quarterly, the investment officer shall prepare and submit to the governing body of the entity a written report of the investment transactions for all funds covered by this chapter for the preceding reporting period." This report is signed by the City's investment officers and includes the disclosures required in the PFIA. Market prices were obtained from independent pricing sources, including Interactive Data Corporation and Bloomberg L.P. The investment portfolio complied with the PFIA and the City's approved Investment Policy and Strategy throughout the period. All investment transactions made in the portfolio during this period were made on behalf of the City and were made in full compliance with the PFIA and the City's approved Investment Policy. First Southwest Asset Management I'agc 2 of 13 411111111 I I= Ill MB OM MI OM MINI =I NM erial UM IIMI MIN Mill MIN MINI lib MIMI NM City of Southlake FIXED INCOME DISTRIBUTION December 31,2008 Summary Information Totals Weighted Averages Par Value 119,171,360.67 Average YTM 2.245 Market Value 120,080,851.96 Average Maturity (yrs) 0.7 Adjusted Cost 119,370,749.77 Average Coupon(%) 2.295 Net Gain/Loss 710,102.19 Average Duration 0.6 Annual Income 2,717,151.25 Number of Issues 27 Distribution by Maturity %Bond Average Average Average Maturity Number Mkt Value Holdings Y T M Coupon Duration 0-3 Months 4 48,827,445.54 40.7 1.627 1.486% 0.032 3-6 Months 5 12,111,436.50 10.1 2.474 3.047% 0.356 6-9 Months 9 24,912,316.25 20.7 2.795 2.981% 0.643 9-12 Months 3 15,126,975.00 12.6 2.482 1.582% 0.864 1-2 Years 3 9,136,410.62 7.6 2.801 3.568% 1.766 2-3 Years 2 5,880,018.04 4.9 2.883 3.122% 2.585 3 Years and Over 1 4,086,250.00 3.4 3.093 4.150% 2.786 First Southwest Asset Management Page 3 of 13 V' r-- - r r--,, r-. r--, r--. r' r -1 e -, IF --. r-- r---* r I 1 City of Southlake Portfolio Composition December 31, 2008 Portfolio Composition by Security Type Portfolio Composition by Issuer ❑FHLMC ■ Agency 18.1% ■FHLB Securities 57.7% 11.8% 0 Commercial / Paper ❑FFCB 2 5% ■FNMA 8.4% 19.4%N . iiiill • /J. . . leer - -: N •Commercial Paper 2.5% ®Pools& 0 US Treasury :. ❑Government Money 5.1% ®TexStar 17.7% Securities Markets ❑TexPool 5.1% 34.7% 17.0% Portfolio Composition by Maturity (Percentage) Portfolio Composition by Maturity (Amount) ■0-3 Months $60 - 40.7% ❑3-6 Months 10.1% $50 $40 0 $30 — $20 I---- DOver3YearsiNNN .59Moflths 3.4% $10 20.7% — — --I ■2-3 Years_i n J11111_TD 4.9% $ 0-3 Months 3-6 Months 6-9 Months 9-12 1 - 2 2 - 3 Over 3 ❑1-2 Years ■9-12 Months Months Years Years Years 7.6% 0 12.6% g i First Southwest Asset Management Page 4 of 13 Mr r .a I NM et - MI - ME - = - tie r MO M M NM I 117 M IIIIIII City of South lake Benchmark Comparison December 31,2008 6.000% - 5.000% - 4.000% ` 3.000% - Southlake Portfolio Month-End Wtd Avg Yld 2.000% - —s---TexPool Monthly Average —4,-3-Mo CMT(3-Month Moving Avg) �x 1.000% - —ki- 6-Mo CMT(6-Month Moving Avg) —ttt--1-Yr CMT(12-Month Moving Avg) 0.000% - I I I I I I 1 I I I I I I I I I i N- N. N. N. N. N. CO CO CO Co CO CO CO OD CO CO OD CO 0 0 0 0 0 0 9 0 0 0 0 00, 0 0 0 0 0 D co a t > u c a T co 0 > ci Q v) Z 0 -co-) tip.. Q co � Q in Z 0 Notes: 1.)Benchmark data for TexPool is the monthly average yield. 2.)CMT stands for Constant Maturity Treasury. This data is published in Fedetal Reserve Statistical Release 1-1.15 and represents an average of all actively traded Treasury securities having that time remaining until maturity.This is a standard industry benchmark for Treasury securities. 3.)The CMT benchmarks are moving averages.The 3-month CMT is the daily average for the previous 3 months,the 6-month CMT is the daily average for the previous 6 months,and the 1-year CMT is the daily average for the previous 12-months. j First Southwest Asset Management 1'age 5 of l 1 1 E Ma En MB N 1 1 N - - NM N OM 1 - Sib IMP .. City of Southlake DETAIL OF SECURITY HOLDINGS As of December 31,2008 Security Security Settlement Maturity Next Call Purchase Purchase Market Market Accrued Days to Days to Yield to Yield to Description CUSIP Coupon Dale Date Date Par Value Price Cost Book Value Price Value Interest Maturity Next Call Maturity Next Call General Operating TexSTAR texstar 1.379 18,827,073.36 100.000 18,827,073.36 18,827,073.36 100.000 18,827,073.36 0.00 1 1.379 TexPool texpool 1.485 10,909,421.05 100.000 10,909,421.05 10,909,421.05 100.000 10,909,421.05 0.00 I 1.485 FNMA 31359MUQ4 3.125 06-10-08 03-16-09 4,102,000.00 100.451 4,120,500.02 4,106,906.82 100.531 4,123,791.117 37,388.02 75 2.524 GE Capital Corp CP 36959HQP5 0.000 06-26-08 03-23-09 3,000,000.00 97.765 2,932,950.00 2,979,885.00 99.943 2,998,293.00 0.00 82 3.090 FHLMC 3128X7JW5 2.265 05-29-08 04-14-09 3,000,000.00 99.704 2,991,120.00 2,997,141.75 100.496 3,014,874.00 14,533.75 104 2.608 FHLMC 3134A4UQ5 3.375 04-16-08 04-15-09 1,500,000.00 101.065 1,515,975.00 1,504,564.29 100.812 1,512,187.50 10,687.50 105 2.289 U.S.T-Note 912828GP9 4.500 08-06-08 04-30-09 3,000,000.00 101.656 3,049,687.50 3,022,145.37 101.406 3,042,187.50 23,121.55 120 2.208 FHLB 3133XRD98 2.375 05-27-08 05-27-09 3,000,000.00 99.870 2,996,100.00 2,998,440.00 100.844 3,025,312.50 6,729.17 147 2.507 FHLB 3133XREU0 2.700 05-30-08 06-30-09 1,500,000.00 99.988 1,499,820.00 1,499,918.08 101.125 1,516,875.00 23,737.50 181 2.711 FFCB 31331YZ37 3.125 07-01-08 07-01-09 3,000,000.00 100.113 3,003,390.00 3,001,681.07 101.375 3,041,250.00 46,875.00 182 3.009 FFCB 31331Y2K5 3.090 11-05-08 07-02-09 01-02-09 1,050,000.00 100.244 1,052,562.00 1,050,044.17 100.000 1,050,000.00 16,132.37 183 2 2.710 1.529 FHLB 3133XFYK6 5.375 05-29-08 07-17-09 1,500,000.00 102.935 1,544,025.00 1,520,952.39 102.656 1,539,843.75 36,729.17 198 2.724 U.S.T-Note 912828GY0 4.625 08-06-08 07-31-09 3,000,000.00 102.234 3,067,031.25 3,039,397.20 102.500 3,075,000.00 58,063.86 212 2.314 FHLB Disc Note 313385KZ8 0.000 09-08-08 08-28-09 2,500,000.00 97.197 2,429,937.50 2,452,697.92 99.670 2,491,750.00 0.00 240 2.973 FHLB Disc Note 313385LG9 0.000 09-08-08 09-04-09 2,500,000.00 97.142 2,428,552.08 2,451,312.50 99.630 2,490,750.00 0.00 247 2.975 FHLMC 3128X3WY5 4.000 11-05-08 09-22-09 5,000,000.00 101.192 5,059,580.00 5,049,000.37 102.281 5,114,035.00 55,000.00 265 2.620 FFCB 31331GCE7 2.700 10-10-08 09-23-09 3,000,000.00 100.449 3,013,467.00 3,010,255.04 101.562 3,046,875.00 22,050.00 266 2.221 FHLB 3133XSDPO 3.375 09-29-08 09-29-09 3,000,000.00 99.977 2,999,310.00 2,999,487.70 102.094 3,062,812.50 25,875.00 272 3.399 FNMA Disc Note 313589MR1 0.000 10-17-08 10-07-09 3,000,000.00 96.844 2,905,333.33 2,925,600.00 99.540 2,986,200.00 0.00 280 3.350 FNMA Disc Note 313589NX7 0.000 11-18-08 11-06-09 6,000,000.00 97.941 5,876,450.00 5,891,850.00 99.440 5,966,400.00 0.00 310 2.174 FNMA 31398AJX1 3.875 11-10-08 12-10-09 6,000,000.00 101.705 6,102,300.00 6,088,846.85 102.906 6,174,375.00 13,562.50 344 2.271 FHLMC 3128X4KF7 4.750 12-17-08 09-22-10 3,000,000.00 104.729 3,141.870.00 3,138,563.81 105.603 3,168,096.00 39,187.50 630 2.006 FFCB 31331GDD8 3.900 10-14-08 10-14-10 01-14-09 2,950,000.00 100.000 2,950,000.00 2,950,000.00 100.094 2,952,765.62 24,607.92 652 14 3.900 3.900 FHLMC 3128X813X9 2.000 12-30-08 12-30-10 12-30-09 3,000,000.00 100.000 3,000,000.00 3,000,000.00 100.518 3,015,549.00 166.67 729 364 2.516 3.023 FHLMC 3128X4N56 5.250 05-12-08 02-24-11 02-24-09 1,864,000.00 101.970 1,900,720.80 1,870,885.15 100.623 1,875,622.04 34,522.83 785 55 4.486 2.686 FHLMC 3128X8CK6 2.125 12-22-08 12-22-11 12-22-09 4,000,000.00 100.000 4,000,000.00 4,000,000.00 100.110 4,004,396.00 2,125.00 1,086 356 2.125 2.125 FNMA 31398AST0 4.150 12-18-08 01-13-12 01-13-10 4,000,000.00 103.003 4,120,120.00 4,115,813.64 102.156 4,086,250.00 77,005.56 1,108 378 3.116 1.312 2.387 107,202,494.41 100.239 107,437,295.89 107,401,883.51 100.863 108,111,985.70 568,100.86 272 2.333 Parks Development Corporation TexSTAR Icxslar 1.379 2,476,491.76 100.000 2,476,491.76 2,476,491.76 100.000 2,476,491.76 0.00 1 1.379 TexPool texpool 1.485 9,492,374.50 100.000 9,492,374.50 9,492,374.50 100.000 9,492,374.50 0.00 I 1.485 1.464 11,968,866.26 100.000 11,968,866.26 11,968,866.26 100.000 11,968,866.26 0.00 1 1.464 GRAND TOTAL 2/94 119,171,360.67 100.215 119,406,162.15 119,370,749.77 100.776 120,080,851.96 568,100.86 244 2.245 Page 6 of 13 ^ First Southwest Asset Management I I _ 7� _ _ _ _ _ .. _ �. � - F - F .. _ .M, � _ _ City of Southiake CHANGE IN VALUE From 09-30-08 To 12-31-08 Security Maturity 09-30-08 09-30-08 Additions Withdrawals Interest Accwed 12-31-08 12-31-08 Description CUSIP Coupon Date Book Value Market Value Purchases Sales Received Interest Book Value Markel Value General Operalinn TexPool texpool 1.485 25,224,182.57 25,224,182.57 0.00 -14,314,761.52 68,504.21 0.00 10,909,421.05 10,909,421.05 TexSTAR texstar 1.379 18,752,494.64 18,752,494.64 74,578.72 0.00 74,578.72 0.00 18,827,073.36 18,827.073.36 GE Capital Services CP 36959RKA2 0.000 10-10-08 1,998,730.00 1,998,722.00 0.00 -2,000,000.00 0.00 0.00 0.00 0.00 FHLB 3133XBJP1 4.570 10-17-08 2,999,819.66 3,001,875.00 0.00 -3,068,550.00 0.00 0.00 0.00 0.00 FNMA 31398AAF9 4.900 11-03-08 3,000,530.89 3,004,687.50 0.00 -3,073,500.00 0.00 0.00 0.00 0.00 GE Capital Services CP 36959RMJ I 0.000 12-18-08 3,977,033.34 3,968,752.00 0.00 -4,000,000.00 0.00 0.00 0.00 0.00 FNMA 31359MUQ4 3.125 03-16-09 4,113,007.18 4,098,154.37 0.00 0.00 0.00 37,388.02 4,106,906.82 4,123,791.87 GE Capital Corp CP 36959HQP5 0.000 03-23-09 2.957,038.33 2,946,351.00 0.00 0.00 0.00 0.00 2,979,885.00 2,998,293.00 FHLMC 3128X7JW5 2.265 04-14-09 2,994,588.75 2,981,955.00 0.00 0.00 33,975.00 14,533.75 2,997,141.75 3,014,874.00 FHLMC 3134A4UQ5 3.375 04-15-09 1,508,601.92 1,499,531.25 0.00 0.00 25,312.50 10,687.50 1,504,564.29 1,512,187.50 U.S.T-Note 912828GP9 4.500 04-30-09 3,039,266.15 3.048,750.00 0.00 0.00 67,500.00 23,121.55 3,022,145.37 3,042,187.50 FHLB 3133XRD98 2.375 05-27-09 2,997,456.99 2,984,062.50 0.00 0.00 35,625.00 6,729.17 2,998,440.00 3,025,312.50 FHLMC 3128X7TV6 2.625 06-12-09 4,000,000.00 3,978,892.00 0.00 -4,052,500.00 0.00 0.00 0.00 0.00 FHLB 3133XREU0 2.700 06-30-09 1.499,876.31 1,494,375.00 0.00 0.00 0.00 23,737.50 1,499,918.08 1,516,875.00 FFCB 31331YZ37 3.125 07-01-09 3,002,535.53 3,000,937.50 0.00 0.00 0.00 46,875.00 3,001,681.07 3,041,250.00 FFCB 31331Y2K5 3.090 07-02-09 0.00 0.00 1,063,647.38 0.00 0.00 16,132.37 1,050,044.17 1.050,000.00 FHLB 3133XFYK6 5.375 07-17-09 1,530,734.33 1,525,781.25 0.00 0.00 0.00 36,729.17 1,520,952.39 1,539,843.75 U.S.T-Note 912828GY0 4.625 07-31-09 3,056,575.12 3,068,437.50 0.00 0.00 0.00 58,063.86 3,039,397.20 3,075,000.00 FHLB Disc Note 3133851(28 0.000 08-28-09 2,434,489.58 2,430,250.00 0.00 0.00 0.00 0.00 2,452,697.92 2,491,750.00 FHLB Disc Note 313385LG9 0.000 09-04-09 2,433,104.16 2,428,750.00 0.00 0.00 0.00 0.00 2,451,312.50 2,490,750.00 FHLMC 3128X3WY5 4.000 09-22-09 0.00 0.00 5,083,468.89 0.00 0.00 55,000.00 5,049,000.37 5,114,035.00 FFCB 31331GCE7 2.700 09-23-09 0.00 0.00 3,017,292.00 0.00 0.00 22,050.00 3,010,255.04 3,046,875.00 FHLB 3133XSDP0 3.375 09-29-09 2,999,313.78 3,006,562.50 0.00 0.00 0.00 25,875.00 2,999,487.70 3,062,812.50 FNMA Disc Note 313589MR1 0.000 10-07-09 0.00 0.00 2,905,333.33 0.00 0.00 0.00 2,925,600.00 2,986,200.00 FNMA Disc Note 313589NX7 0.000 11-06-09 0.00 0.00 5.876,450.00 0.00 0.00 0.00 5,891,850.00 5,966,400.00 FNMA 31398AJXI 3.875 12-10-09 0.00 0.00 6,199,175.00 0.00 116,250.00 13,562.50 6,088,846.85 6,174,375.00 FHLB 3133XNSD2 4.250 12-18-09 3,000,000.00 3,007,500.00 0.00 -3,063,750.00 0.00 0.00 0.00 0.00 FHLMC 3128X4KF7 4.750 09-22-10 0.00 0.00 3,175,515.83 0.00 0.00 39,187.50 3,138,563.81 3,168,096.00 FFCB 31331GDD8 3.900 10-14-10 0.00 0.00 2,950,000.00 0.00 0.00 24,607.92 2,950,000.00 2,952,765.62 FNMA 31398AHX3 5.020 10-15-10 3,000,000.00 3,002,812.50 0.00 -3,075,300.00 0.00 0.00 0.00 0.00 FHLB 3133XHKE1 5.320 11-10-10 3,012,013.15 3,007,500.00 0.00 -3,010,196.67 79,800.00 0.00 0.00 0.00 FHLMC 3128X8BX9 2.000 12-30-10 0.00 0.00 3,000,000.00 0.00 0.00 166.67 3,000,000.00 3,015,549.00 FHLMC 3128X4N56 5.250 02-24-11 1,882,615.41 1,878,714.42 0.00 0.00 0.00 34,522.83 1,870,885.15 1,875,622.04 FHLMC 3128X8CK6 2.125 12-22-11 0.00 0.00 4,000,000.00 0.00 0.00 2,125.00 4,000,000.00 4,004,396.00 FNMA 31398AST0 4.150 01-13-12 0.00 0.00 4,191,131.11 0.00 0.00 77,005.56 4,115,813.64 4,086,250.00 105,414.007.80 105,340,030.50 41,536,592.26 -39,658.558.19 501,545.43 568,100.86 107,401,883.51 108.111,985.70 Parks Development Corporation Tcxl'ool lexpool 1.485 9,450,371.01 9,450,371.01 42,003.49 0.00 42,003.49 0.00 9,492,374.50 9,492,374.50 'I'exSTAR texslar 1.379 2,466,681.76 2,466,681.76 9,810.00 0.00 9,810.00 0.00 2,476,491.76 2,476,491.76 11,917,052.77 11,917,052.77 51,813.49 0.00 51,813.49 0.00 11,968,866.26 11,968,866.26 GRAND TOTAI, 117,331,060.57 117,257,083.27 41,588,405.75 -39,658,558.19 553,358.92 568,100.86 119,370,749.77 120,080,851.96 First Southwest Asset Management Page 7 of 13 I MI 1170 I MN E MN M 1 - r - 1 N MN En N N 111111 City of Southlake General Operating INVESTMENT TRANSACTIONS From 10-01-08 To 12-31-08 Settle Mature Call Unit Date Security CUSII' Coupon Date Date Quantity Price Amount PURCHASES 10-10-08 FFCB 31331GCE7 2.700 09-23-09 3,000,000 100.449 3,013,467.00 Accrued Interest 3,825.00 10-14-08 FFCB 3133IGDD8 3.900 10-14-10 01-14-09 2,950,000 100.000 2,950,000.00 10-17-08 FNMA Disc Note 313589MR1 0.000 10-07-09 3,000,000 96.844 2,905,333.33 11-05-08 FFCB 31331Y2K5 3.090 07-02-09 01-02-09 1,050,000 100.244 1,052,562.00 Accrued Interest 11,085.38 11-05-08 FHLMC 3128X3WY5 4.000 09-22-09 09-22-06 5,000,000 101.192 5,059,580.00 Accrued Interest 23,888.89 11-10-08 FNMA 31398AJX1 3.875 12-10-09 6,000,000 101.705 6,102,300.00 Accrued Interest 96,875.00 11-18-08 FNMA Disc Note 313589NX7 0.000 11-06-09 6,000,000 97.941 5,876,450.00 12-17-08 FHLMC 3128X4KF7 4.750 09-22-10 3,000,000 104.729 3,141,870.00 Accrued Interest 33,645.83 12-18-08 FNMA 31398AST0 4.150 01-13-12 01-13-10 4,000,000 103.003 4,120,120.00 Accrued Interest 71,011.11 12-22-08 FHLMC 3128X8CK6 2.125 12-22-11 12-22-09 4,000,000 100.000 4,000,000.00 12-30-08 FHLMC 3128X8BX9 2.000 12-30-10 12-30-09 3,000,000 100.000 3,000,000.00 41,462,013.54 CALLS 10-15-08 FNMA 31398AHX3 5.020 10-15-10 10-15-08 3,000,000 100.000 3,000,000.00 Accrued Interest 75,300.00 I1-16-08 FHLMC 3128X7TV6 2.625 06-12-09 11-16-08 4,000,000 100.000 4,000,000.00 Accrued Interest 52,500.00 12-03-08 FHLB 3133XHKE1 5.320 11-10-10 12-03-08 3,000,000 100.000 3,000,000.00 Accrued Interest 10,196.67 12-18-08 FHLB 3133XNSD2 4.250 12-18-09 12-18-08 3,000,000 100.000 3,000,000.00 Accrued Interest 63,750.00 13,201,746.67 MATURITIES 10-10-08 GE Capital Services CP 36959RKA2 0.000 10-10-08 2,000,000 100.000 2,000,000.00 10-17-08 FHLB 3133X8JP1 4.570 10-17-08 3,000,000 100.000 3,000,000.00 Accrued Interest 68,550.00 11-03-08 FNMA 31398AAF9 4.900 11-03-08 3,000,000 100.000 3,000,000.00 Accrued Interest 73,500.00 12-18-08 GE Capital Services CP 36959RMJ1 0.000 12-18-08 4,000,000 100.000 4,000,000.00 12,142,050.00 Page 8 of 13 First Southwest Asset Management 1 V OM MN - EN EN MN - En ell r 1 - - - NM M\ Mill an ( ) t City of Southlake EARNED INCOME From 09-30-08 To 12-31-08 Beginning Ending Adjusted Accrued Purchased Sold Interest Earned Accrued Amortization/ Earned lulcrest Interest Interest Received Interest Interest Accretion Income General Operating TexSTAR (lexstar) 0.00 0.00 0.00 74,578.72 74,578.72 0.00 0.00 74,578.72 TexPool (texpool) 0.00 0.00 0.00 68,504.21 68,504.21 0.00 0.00 68,504.21 GE Capital Services CP 0.000%Due 10-10-08(36959rka2) 0.00 0.00 0.00 0.00 0.00 0.00 1,270.00 1,270.00 FHLB 4.570%Due 10-17-08(3133xbjp1) 62,456.67 0.00 68,550.00 0.00 6,093.33 0.00 180.34 6,273.67 FNMA 4.900%Due 11-03-08(31398aa19) 60,433.33 0.00 73,500.00 0.00 13,066.67 0.00 -530.89 12,535.78 GE Capital Services CP 0.000%Due 12-18-08(36959rmj I) 0.00 0.00 0.00 0.00 0.00 0.00 22,966.66 22,966.66 FNMA 3.125%Due 03-16-09(31359muq4) 5,341.15 0.00 0.00 0.00 32,046.87 37,388.02 -6,100.37 25,946.50 GE Capital Corp CP 0.000%Due 03-23-09(36959hqp5) 0.00 0.00 0.00 0.00 0.00 0.00 22,846.67 22,846.67 FHLMC 2.265%Due 04-14-09(3128x7jw5) 31,521.25 0.00 0.00 33,975.00 16,987.50 14,533.75 2,553.00 19,540.50 FHLMC 3.375%Due 04-15-09(3134a4uq5) 23,343.75 0.00 0,00 25,312.50 12,656.25 10,687.50 -4,037.64 8,618.61 U.S.T-Note 4.500%Duc 04-30-09(9I2828gp9) 56,494.57 0.00 0.00 67,500.00 34,126.98 23,121.55 -17,120.79 17,006.19 FHLB 2.375%Due 05-27-09(3133xrd98) 24,541.67 0.00 0.00 35,625.00 17,812.50 6,729.17 983.01 18,795.51 FHLMC 2.625%Duc 06-12-09(3128x7tv6) 39,375.00 0.00 52,500.00 0.00 13,125.00 0.00 0.00 13,125.00 FHLB 2.700%Due 06-30-09(3133xreu0) 13,612.50 0.00 0.00 0.00 10,125.00 23,737.50 41.78 10,166.78 FFCB 3.125%Due 07-01-09(3133 1yz37) 23,437.50 0.00 0.00 0.00 23,437.50 46,875.00 -854.47 22,583.03 FFCB 3.090%Due 07-02-09(31331y2k5) 0.00 11,085.38 0.00 0.00 5,046.99 16,132.37 -2,517.83 2,529.16 FHLB 5.375%Due 07-17-09(3133xfyk6) 16,572.92 0.00 0.00 0.00 20,156.25 36,729.17 -9,781.94 10,374.31 U.S.T Note 4.625%Due 07-31-09(912828gy0) 23,376.36 0.00 0.00 0.00 34,687.50 58,063.86 -17,177.92 17,509.58 FHLB Disc Note 0.000%Due 08-28-09(313385kz8) 0.00 0.00 0.00 0.00 0.00 0.00 18,208.33 18,208.33 FHLB Disc Note 0.000%Due 09-04-09(3133851g9) 0.00 0.00 0.00 0.00 0.00 0.00 18,208.33 18,208.33 FHLMC 4.000%Due 09-22-09(3128x3wy5) 0.00 23,888.89 0,00 0.00 31,111.11 55,000.00 -10,579.63 20,531.48 FFCB 2.700%Duc 09-23-09(31331gce7) 0.00 3,825.00 0.00 0.00 18,225.00 22,050.00 -3,211.96 15,013.04 FHLB 3.375%Due 09-29-09(3133xsdp0) 562.50 0.00 0.00 0.00 25,312.50 25,875.00 173.92 25,486.42 FNMA Disc Note 0.000%Due 10-07-09(313589mr1) 0.00 0.00 0.00 0.00 0.00 0.00 20,266.67 20,266.67 FNMA Disc Note 0.000%Due 11-06-09(313589nx7) 0.00 0.00 0.00 0.00 0.00 0.00 15,400.00 15,400.00 FNMA 3.875%Due 12-10-09(31398ajx1) 0.00 96,875.00 0.00 116,250.00 32,937.50 13,562.50 -13,453.15 19,484.35 FHLB 4.250%Due 12-18-09(3133xnsd2) 36,479.17 0.00 63,750.00 0.00 27,270.83 0.00 0.00 27,270.83 FHLMC 4.750%Due 09-22-10(3128x4kf1) 0.00 33,645.83 0.00 0.00 5,541.67 39,187.50 -3,306.19 2,235.48 FFCB 3.900%Due 10-14-10(31331gdd8) 0.00 0.00 0.00 0.00 24,607.92 24,607.92 0.00 24,607.92 FNMA 5.020%Due 10-15-10(31398ahx3) 69,443.33 0.00 75,300.00 0.00 5,856.67 0.00 0.00 5,856.67 FHLB 5.320%Due 11-10-10(3133xhke1) 62,510.00 0.00 10,196.67 79,800.00 27,486.67 0.00 -8,279.55 19,207.12 FHLMC 2.000%Due 12-30-10(3I28x8bx9) 0.00 0.00 0.00 0.00 166.67 166.67 0.00 166.67 FHLMC 5.250%Due 02-24-11(3128x4n56) 10,057.83 0.00 0.00 0.00 24,465.00 34,522.83 -11,730.26 12,734.74 FHLMC 2.125%Due 12-22-11(3128x8ck6) 0.00 0.00 0.00 0.00 2,125.00 2,125.00 0.00 2,125.00 FNMA 4.150%Due 01-13-12(31398ast0) 0.00 71,011.11 0.00 0.00 5,994.45 77,005.56 -4,306.36 1,688.09 559,559.50 240,331.21 343,796.67 501,545.43 613,552.26 568,100.87 10,109.76 623,662.02 First Southwest Asset Management Page 9 of 13 E It MO OM roll PM roe gm — imp me I i IFIEN N I IMP = NM City of Southlake EARNED INCOME Front 09-30-08 To 12-31-08 Beginning Ending Adjusted Accrued Purchased Sold Interest Earned Accrued Amortizalion/ Earned Interest Interest Interest Received Interest luleresi Accretion lucome Parks Development Corporation TexSTAR (texstar) 0.00 0.00 0.00 9,810.00 9,810.00 0.00 0.00 9,810.00 TexPool (texpool) 0.00 0.00 0.00 42,003.49 42,003.49 0.00 0.00 42,003.49 0.00 0 00 0.00 51,813.49 51,813.49 0.00 0.00 51.813.49 GRAND TOTAL 559,559.511 2411,331.21 343,796.67 553,358.92 665,365.75 568,100.87 10,109.76 675,475.51 1 First Southwest Asset Management Page 10 id.13 I MINI sit MINI 11111 UM =I all NMI MN 111111 Will 1 i 4 1 ;1;7 City ofsouthrake AMORTIZATION AND ACCRETION From 09-30-08 To 12-31-08 Purchase Information I Anaorli,alion/Accretion Information Purchase hale Total Adjusted (luantit3 Date Price Total('osi Ib Dale To Dale Balance ('oat General Operating GE Capital Services CP 0.000%Due 10-10-08(36959rka2) 0.00 4/16/2008 0.000 0.00 1,270.00 24,976.67 0.00 FHLB 4.570%Due 10-17-08(3133xbjp1) 0.00 9/18/2007 0.000 0.00 180.34 4,380.00 0.00 FNMA 4.900%Due 11-03-08(31398aaf9) 0.00 9/13/2007 0.000 0.00 -530.89 -6,690.00 0.00 GE Capital Services CP 0.000%Due 12-18-08(36959rmj I) 0.00 8/20/2008 0.000 0.00 22,966.66 35,333.33 0.00 FNMA 3.125%Due 03-16-09(31359mug4) 4,102,000.00 6/10/2008 100.451 4,120,500.02 -6,100.37 -13,593.20 -4,906.82 4,106,906.82 GE Capital Corp CP 0.000%Due 03-23-09(36959hqp5) 3,000,000.00 6/26/2008 97.765 2,932,950.00 22,846.67 46,935.00 20,115.00 2,979,885.00 FHLMC 2.265%Due 04-14-09(3128x7jw5) 3,000,000.00 5/29/2008 99.704 2,991,120.00 2,553.00 6,021.75 2,858.25 2,997,141.75 FHLMC 3.375%Duc 04-15-09(3134a4uq5) 1,500,000.00 4/16/2008 101.065 1,515,975.00 -4,037.64 -11,410.71 -4,564.29 1,504,564.29 U.S.T-Note 4.500%Due 04-30-09(9I2828gp9) 3,000,000.00 8/6/2008 101.656 3,049,687.50 -17,120.79 -27,542.13 -22,145.37 3,022,145.37 FHLB 2.375%Due 05-27-09(3133xrd98) 3,000,000.00 5/27/2008 99.870 2,996,100.00 983.01 2,340.00 1,560.00 2,998,440.00 FHLMC 2.625%Duc 06-12-09(3128x7tv6) 0.00 5/19/2008 0.000 0.00 0.00 0.00 0.00 FHLB 2.700%Due 06-30-09(3133xreu0) 1,500,000.00 5/30/2008 99.988 1,499,820.00 41.78 98.08 81.92 1,499,918.08 FFCB 3.125%Due 07-01-09(31331yz37) 3,000,000.00 7/1/2008 100.113 3,003,390.00 -854.47 -1,708.93 -1,681.07 3,001,681.07 FFCB 3.090%Due 07-02-09(31331y2k5) 1,050,000.00 11/5/2008 100.244 1,052,562.00 -2,517.83 -2,517.83 -44.17 1,050,044.17 FHLB 5.375%Due 07-17-09(3133xfyk6) 1,500,000.00 5/29/2008 102.935 1,544,025.00 -9,781.94 -23,072.61 -20,952.39 1,520,952.39 U.S.T-Note 4.625%Due 07-31-09(912828gy0) 3,000,000.00 8/6/2008 102.234 3,067,031.25 -17,177.92 -27,634.05 -39,397.20 3,039,397.20 FHLB Disc Note 0.000%Due 08-28-09(3133851cz8) 2,500,000.00 9/8/2008 97.197 2,429,937.50 18,208.33 22,760.42 47,302.08 2,452,697.92 FHLB Disc Note 0.000%Due 09-04-09(3133851g9) 2,500,000.00 9/8/2008 97.142 2,428,552.08 18,208.33 22,760.42 48,687.50 2,451,312.50 FHLMC 4.000%Due 09-22-09(3128x3wy5) 5,000,000.00 11/5/2008 101.192 5,059,580.00 -10,579.63 -10,579.63 -49,000.37 5,049,000.37 FFCB 2.700%Due 09-23-09(31331gce7) 3,000,000.00 10/10/2008 100.449 3,013,467.00 -3,211.96 -3,211.96 -10,255.04 3,010,255.04 FHLB 3.375%Due 09-29-09(3133xsdp0) 3,000,000.00 9/29/2008 99.977 2,999,310.00 173.92 177.70 512.30 2,999,487.70 FNMA Disc Note 0.000%Due 10-07-09(313589mr1) 3,000,000.00 10/17/2008 96.844 2,905,333.33 20,266.67 20,266.67 74,400.00 2,925,600.00 FNMA Disc Note 0.000%Due 11-06-09(313589nx7) 6,000,000.00 11/18/2008 97.941 5,876,450.00 15,400.00 15,400.00 108,150.00 5,891,850.00 FNMA 3.875%Due 12-10-09(31398ajx1) 6,000,000.00 11/10/2008 101.705 6,102,300.00 -13,453.15 -13,453.15 -88,846.85 6,088,846.85 FHLB 4.250%Duc 12-18-09(3133xnsd2) 0.00 12/18/2007 0.000 0.00 0.00 0.00 0.00 FHLMC 4.750%Due09-22-10(3128x4kf7) 3,000,000.00 12/17/2008 104.729 3,141,870.00 -3,306.19 -3,306.19 -138,563.81 3,138,563.81 FFCB 3.900%Due 10-14-10(31331gdd8) 2,950,000.00 10/14/2008 100.000 2,950,000.00 0.00 0.00 0.00 2,950,000.00 FNMA 5.020%Due 10-15-10(31398ahx3) 0.00 10/15/2007 0.000 0.00 0.00 0.00 0.00 FHLB 5.320%Duc 11-10-10(3133xhkel) 0.00 2/15/2008 0.000 0.00 -8,279.55 -55,680.00 0.00 FHLMC 2.000%Due 12-30-10(3128x8bx9) 3,000,000.00 12/30/2008 100.000 3,000,000.00 0.00 0.00 0.00 3,000,000.00 FHLMC 5.250%Due 02-24-11(3128x4n56) 1,864,000.00 5/12/2008 101.970 1,900,720.80 -11,730.26 -29,835.65 -6,885.15 1,870,885.15 FHLMC 2.125%Due 12-22-11(3128x8ck6) 4,000,000.00 12/22/2008 100.000 4,000,000.00 0.00 0.00 0.00 4,000,000.00 FNMA 4.150%Due 01-13-12(31398ast0) 4,000,000.00 12/18/2008 103.003 4,120,120.00 -4,306.36 -4,306.36 -115,813.64 4,115,813.64 GRAND TOTAL 77,700,801.48 10,109.76 -33,092.36 -199,389.12 77,665,389.12 First Southwest Asset Management Page I 1 of 13 1 — 1116 1 s NE EN NM N — r NM En EN N MN S Nib — 11111 City of Southlake PROJECTED FIXED INCOME CASH FLOWS Beginning January 1,2009 SECURITY DESCRIPTION JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TOTAL AGENCY COUPON SECURITIES FNMA 3.125%Due 03-16-09(31359mug4) 4,166,093.75 4,166,093.75 FHLMC 2.265%Due 04-14-09(3128x7jw5) 3,033,975.00 3,033,975.00 FHLMC 3.375%Due 04-15-09(3134a4uq5) 1,525,312.50 1,525,312.50 FHLB 2.375%Due 05-27-09(3133xrd98) 3,035,625.00 3.035.625.00 FHLB 2.700%Due 06-30-09(3133xreu0) 1,543,875.00 1,543,875.00 FFCB 3.125%Due 07-01-09(31331yz37) 46,875.00 3,046,875.00 3,093,750.00 FFCB 3.090%Due 07-02-09(3133 Iy2k5) 16,222.50 1,066,222.50 1,082,445.00 FHLB 5.375%Due 07-17-09(3133xfyk6) 40,312.50 1,540,312.50 1,580,625.00 FHLMC 4.000%Due 09-22-09(3128x3wy5) 100,000.00 5,100,000.00 5,200,000.00 FFCB 2.700%Due 09-23-09(31331gce7) 40,500.00 3,040,500.00 3,081,000.00 FHLB 3.375%Due 09-29-09(3133xsdp0) 50,625.00 3,050,625.00 3,101,250.00 FNMA 3.875%Due 12-10-09(31398ajx1) 116,250.00 6,116,250.00 6,232,500.00 FHLMC 4.750%Due 09-22-10(3128x4kf7) 71,250.00 71,250.00 142,500.00 FFCB 3.900%Due 10-14-10(31331gdd8) 57,525.00 57,525.00 115,050.00 FI-ILMC 2.000%Due 12-30-10(3128x8bx9) 30,000.00 30,000.00 60,000.00 FHLMC 5.250%Due 02-24-11(3128x4n56) 48,930.00 48,930.00 97,860.00 FHLMC 2.125%Due 12-22-11(3128x8ck6) 42,500.00 42,500.00 85,000.00 FNMA 4.150%Due 01-13-12(31398ast0) 82,538.89 83,000.00 165,538.89 Total 185,948.89 48,930.00 4,428,468.75 4,616,812.50 3,035,625.00 1,732,625.00 5,736,410.00 48,930.00 11,262,375.00 57,525.00 6,188,750.00 37,342,400.14 AGENCY DISCOUNT NOTES FHLB Disc Note 0.000%Due 08-28-09(313385kz8) 2,500,000.00 2,500,000.00 FHLB Disc Note 0.000%Due 09-04-09(3133851g9) 2,500,000.00 2,500,000.00 FNMA Disc Note 0.000%Due 10-07-09(313589mr1) 3,000,000.00 3,000,000.00 FNMA Disc Note 0.000%Due 11-06-09(313589nx7) 6,000,000.00 6,000,000.00 Total 2,500,000.00 2,500,000.00 3,000,000.00 6,000,000.00 14,000,000.00 First Southwest Asset Management Page 12 a 13 I — - - M NM I = - - - - OM I M M 17) _ M City of Southlake PROJECTED FIXED INCOME CASH FLOWS Beginning January/,2009 SECURITY DESCRIPTION JAN FED MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TOTAL COMMERCIAL PAPER GE Capital Corp CI'0.000%Due 03-23-09 3,000,000.00 3,000,000.00 (36959hqp5) Total 3,000,000.00 3,000,000.00 TREASURY NOTES U.S.T-Note 4.500%Due 04-30-09(912828gp9) 3,067,500.00 3,067,500.00 U.S.T-Nole 4.625%Due 07-31-09(912828gy0) 69,375.00 3,069,375.00 3,138,750.00 Total 69,375.00 3,067,500.00 3,069,375.00 6,206,250.00 Grand Total 255,323.89 48,930.00 7,428,468.75 7,684,312.50 3,035,625.00 1,732,625.00 8,805,785.00 2,548,930.00 13,762,375.00 3,057,525.00 6,000,000.00 6,188,750.00 60,548,650.14 Page 13 of 13 First Southwest Asset Management 1 1 CiTY OF SOUTHLAKE FINANCE DEPARTMENT CITY OF SOUTHLAKE CAPITAL IMPROVEMENTS PROGRAM QUARTERLY STATUS REPORT December 31, 2008 The Capital Improvements Plan (CIP) establishes a five (5) year funding schedule for the purchase, construction or replacement of physical assets of the City. Capital improvements typically have a useful life of over ten (10) years and a value greater than $10,000. Most CIP projects typically involve major infrastructure development and improvement. CIP projects are primarily funded through General Obligation (GO) bonds and Revenue Certificates of Obligation. The City of Southlake's CIP Quarterly Status Report has been designed as a resource ' tool to be utilized by City staff, citizens of Southlake, and the community at large. The objective of this report is to provide timely and accurate information in a user friendly format regarding construction and other improvement projects in the City of Southlake. Projects within the City's CIP are categorized as follows: Street and Drainage Improvements, Traffic Management Projects, Water System Improvements, Sewer System Improvements, Crime Control Projects and Southlake Parks Development Corp. Improvement Projects. I 1 1400 Main Street Suite 440•Southlake,TX 76092 (817)748-8042•www.ci.southlake.tx.us TABLE OF CONTENTS Page Streets and Drainage Improvements 1 Traffic Management Projects 5 r Water System Improvements 6 Sewer System Improvements 8 Crime Control Projects 10 Southlake Parks Development Corp Improvements 12 1 I CITY OF SOUTHLAKE, TEXAS I FY 2007-08 CAPITAL IMPROVEMENTS PLAN --Street& Drainage Improvement Projects -- fp) Report Date: December 31, 2008 Title: Location: Proiect Description: . EFM 1938 Right-of-Way East side of Randol Mill from On December 31,2001,the TCC approved a Minute FM 1709 north to the city limits Order giving the extension of FM 1938(FM 1709 to SH 114)along the Randol Mill ROW Priority li funding status I and Farm to Market designation. This means the FM 1938 extension project will likely be funded. Tarrant County will be acquiring 120'of ROW for the project. An I additional 16'-20'will need to be acquired by the City of Southlake to provide a buffer,landscaping,a trail,and a 24"water line. 1 Total Estimated Cost: LTD Actual Cost: Cost to Complete: $ 580,000 $ 253,664 $ 326,336 Funding Source(s): Status: G.O. Bonds,G.O Bond Interest Waiting on TXDOT and FEDs to complete environmental 4 studies.Tarrant County,through an interlocal agreement with the City,is in the process of obtaining right-of-way on I L the City's behalf. Completion Date: I Title: Location: Proiect Description: N.White Chapel Ultimate N.White Chapel from Emerald This project is for the design of the ultimate roadway I ' Roadway to State Hwy. 114 section(4 lane divided)as depicted by the Thoroughfare Plan.This project also includes necessary drainage improvements. Total Estimated Cost: LTD Actual Cost: Cost to Complete: $ 7,095,000 $ 202,869 $ 6,892,131 W Funding Source(s): Status: I G.O. Bonds,G.O Bond Interest,Roadway Impact funds Design and engineering are in progress. Completion Date: Spring 2010 1 I I Pli Page 1 C CITY OF SOUTH LAKE, TEXAS C FY 2007-08 CAPITAL IMPROVEMENTS PLAN --Street& Drainage Improvement Projects -- i, Report Date: December 31,2008 Title: Location: Project Description: ESidewalks throughout the city Various locations Construction of sidewalks in areas where staff has received requests for the installation of sidewalks,primarily around schools and areas where sidewalks would improve pedestrian safety. Total Estimated Cost: LTD Actual Cost: Cost to Complete: ri $ 924,070 $ 304,839 $ 619,231 IFundinq Source(s): Status: G.O. Bonds,Strategic Initiative Fund transfer In progress I Completion Date: When funds are depleted iTitle: Location: Project Description: Roadway and drainage Shumaker Lane& Construct paving and drainage on Shumaker Lane. This IL improvements Sunshine street is a gravel street with storm water run-off that floods property to the west in Hunter's Ridge subdivision. On Sunshine the project will scarify,reclaim,and reshape I the existing pavement and subgrade. Existing bar ditches will be regraded and reshaped to improve drainage. Total Estimated Cost: LTD Actual Cost: Cost to Complete: $ 1,003,148 $ 23,460 $ 979,688 I Fundinq Source(s): Status: Strategic Initiative Fund transfer Contract has been awarded and construction has begun. ICompletion Date: Spring 2009 I Title: Location: Project Description: Roundabout construction White Chapel at Continental Reconstruct the intersection to improve traffic flow and drainage. The design will include a traffic analysis to Idetermine the optimal intersection. Total Estimated Cost: LTD Actual Cost: Cost to Complete: II $ 750,000 $ 212,521 $ 537,479 Fundinq Source(s): Status: Strategic initiative fund transfer, Roadway Impact fund Engineering is currently underway. I Completion Date: Spring 2009 Page 2 C CITY OF SOUTHLAKE, TEXAS C FY 2007-08 CAPITAL IMPROVEMENTS PLAN --Street& Drainage Improvement Projects -- i. Report Date: December 31,2008 Title: Location: Protect Description: Roundabout construction Dove at N.White Chapel Reconstruct the intersection to improve traffic flow and I drainage. The design will include a traffic analysis to determine the optimal intersection. 1 Total Estimated Cost: LTD Actual Cost: Cost to Complete: $ 805,000 $ 48,841 $ 756,159 1 Funding Source(s): Status: Strategic Initiative Fund transfer,Roadway Impact fund Engineering is currently underway. I Completion Date: Spring 2009 Title: Location: Project Description: L, Roundabout construction Dove at N. Carroll Reconstruct the Dove St.and N.Carroll Ave intersection to improve traffic flow and drainage. The design will include a �` traffic analysis to determine the optimal intersection. E. Total Estimated Cost: LTD Actual Cost: Cost to Complete: $ 745,000 $ 48,841 $ 696,159 Funding Source(s): Status: EStrategic initiative fund transfer, Roadway Impact fund Engineering is currently underway. I1 Completion Date: Spring 2009 Title: Location: Project Description: Trail improvements East Dove Road from White Chapel Trail system implementation in key, high-use areas to to Estes Park entrance to Carroll compliment existing trails,make critical connections,or 4 I Middle School. construction as part of other capital projects. Total Estimated Cost: LTD Actual Cost: Cost to Complete: E. $ 347,000 $ 17,344 $ 329,656 Ii• Funding Source(s): Status: G.O.Bonds,Strategic Initiative Fund transfer Design is complete and project will be bid this summer ll I Completion Date: Summer 2009 Page 3 1 CITY OF SOUTHLAKE, TEXAS ' FY 2007-08 CAPITAL IMPROVEMENTS PLAN --Street& Drainage Improvement Projects -- Report Date: December 31, 2008 Title: Location: Project Description: N. Kimball Avenue N.Kimball Ave from SH 114 to Reconstruct ultimate section(4 lanes divided)of N. Kimball Dove Rd. Ave from SH 114 to Dove Rd. Ultimate section would add traffic lanes to encourage re-development of the Mesco site and alleviate traffic congestion. Total Estimated Cost: LTD Actual Cost: Cost to Complete: �r $ 1,100,000 $ 388,525 $ 711,475 Funding Source(s): Status: Roadway Impact fees,G.O.Bonds Design and engineering currently underway Completion Date: FY 2010-11 L i 1 1 1 1 1 � 1 1 Page 4 1 CITY OF SOUTHLAKE,TEXAS I FY 2007-08 CAPITAL IMPROVEMENTS PLAN --Traffic Management Projects -- Report Date: December 31, 2008 Title: Location: Protect Description: C Agreement with TXDOT for Jellico Court East and West Construction of intersection improvements with construction of deceleration Brock Dr.,Meadowlark Ln., deceleration lanes along FM 1709 from Jellico Circle lanes at various locations Southridge Lakes Pkwy& West to Bank Street. C along FM 1709. Waterford Dr.,Ginger Ct.,Stone Lakes Pl.,Timber Lake PI.,Lake Crest Dr.,Bicentennial Park, Diamond Blvd./Byron Nelson Pkwy.,Foxborough Ln.,Miron Dr., Westwood Dr.,Commerce St., IBank St. Total Estimated Cost: LTD Actual Cost: Cost to Complete: I II $ 500,000 $ 5,976 $ 494,025 ift Funding Source(s): Status: EG.O.Bonds,G.O Bond Interest Working to obtain TXDOT approval of the design. Completion Date: i i j E Title: Location: Project Description: Design of right turn deceleration Various locations on Southlake Professional services agreement with TranSystems lanes Blvd. Corporation.Services will include design, right-of-way surveying with digital aerial photogrammertry,preparation of 4 E construction plans and specifications,and preparation of construction documents.The project will also address 0 idrainage and culvert issues that are necessary to accommodate the widening. LTotal Estimated Cost: LTD Actual Cost: Cost to Complete: $ 343,123 $ 268,979 $ 74,144 Funding Source(s): Status: 4 i G.O.Bonds,G.O Bond Interest Close to completion ICompletion Date: Summer 2009 I Page 5 L CITY OF SOUTHLAKE,TEXAS r FY 2007-08 CAPITAL IMPROVEMENTS PLAN --Water System Improvement Projects -- Report Date: December 31, 2008 i illia Title: Location: Project Description: L 12"waterline Along E.Continental Blvd.from Replace existing 8"water main with approximately 1,200 Byron Nelson Pkwy.to LF of 12"water main.Tie in existing 8"at Wyndsor Champion's Way Creek,tie in existing 8"at Sarah Park Trail, and tie in rexisting 6"at W.Perry&E.Perry. ir Total Estimated Cost: LTD Actual Cost: Cost to Complete: I $ 276,650 $ 144,426 $ 132,224 ILFundinq Source(s): Status: Tax&Revenue Certificates of Obligation Contract has been awarded and construction has begun. (issued in 2006) ECompletion Date: Spring 2009 LTitle: Location: Project Description: L Florence 1.5 MG elevated Brewer Dr.just south of Construction of a 1.5 million gallon water tower to replace water tank Florence Rd. the existing 0.5 million gallon tank on Florence Dr.The capacity of the existing tank is inadequate and has to be refilled many times per day, resulting in cost of pumping, electricity and shortage of supply to the customers. Total Estimated Cost: LTD Actual Cost: Cost to Complete: L $ 2,860,000 $ 2,622,087 $ 237,913 CFundinq Source(s): Status: Tax&Revenue Certificates of Obligation Construction 97%complete. ICompletion Date: Spring 2009 ITitle: Location: Project Description: 30"water supply line to TW King TW King Pump Station#2 Construct approximately 32,000 linear feet of 24"water I Pump Station#2 transmission line in order to fully utilize pump station#2 and the ground storage tanks. Currently,this pump station is not connected to the Fort Worth supply line. It has to be back I fed from pump station#1. This process is inefficient and reduces the City's ability to pump water throughout the irail, system. Total Estimated Cost: LTD Actual Cost: Cost to Complete: 5,476,000 $ 241,419 $ 5,234,581 Is Page 6 I CITY OF SOUTHLAKE, TEXAS L FY 2007-08 CAPITAL IMPROVEMENTS PLAN --Water System Improvement Projects -- Report Date: December 31,2008 Funding Source(s): Status: LTax&Revenue Certificates of Obligation Project is currently in preliminary design and engineering. Completion Date: FY 2009/10 L L ITitle: Location: Project Description: 12"water line along Randol Mill from Randol Mill Bend This project involves replacing 8300 linear feet of existing 6" Randol Mill to FM 1709 water line along this portion of Randol Mill. The design was Ccompleted during FY 01-02 from FM 1709 to Florence. Total Estimated Cost: LTD Actual Cost: Cost to Complete: L $ 430,000 $ 95,000 $ 335,000 L Funding Source(s): Status: Tax&Revenue Certificates of Obligation 'L Completion Date: Fall 2009 LTitle: Location: Project Description: 12"water line along Highland from Shady Oaks This project involves upgrading 5500 LF of 6"pipe with 12" CHighland to SH114 water main. Total Estimated Cost: LTD Actual Cost: Cost to Complete: C $ 500,000 $ 34,125 $ 465,875 Funding Source(s): Status: Tax&Revenue Certificates of Obligation Engineering and design are in progress Completion Date: Summer 2009 I I- L Page 7 I CITY OF SOUTHLAKE, TEXAS I FY 2007-08 CAPITAL IMPROVEMENTS PLAN --Sewer System Improvement Projects -- ir- Report Date: December 31, 2008 Title: Location: Project Description: C Neighborhood sanitary sewer Quail Creek Estates,Woodland Install 8"sanitary sewer lines to convert neighborhoods installation,convert from septic Heights,and Shumaker Lane from septic to sewer. 7,000 LF in Quail Creek and Woodland Heights,930 LF on Shumaker Lane from EHunter's Creek to Sunshine Ln. Total Estimated Cost: LTD Actual Cost: Cost to Complete: $ 2,254,735 $ 854,914 $ 1,399,821 LFundinq Source(s): Status: Tax&Revenue Certificates of Obligation Project is under construction,26%complete (issued in 2006) Completion Date: Spring 2008 Title: Location: Project Description: N-1 sewer analysis and meter N-1 sewer line from Southlake and Sewer system capacity and structural integrity evaluation LL station improvements for TRA Westlake border to north of and miscellaneous meter station improvements necessary improvements Kirkwood Blvd. to satisfy TRA requirements for tumover of ownership and maintenance of the N-1 line north of the Southlake city limit. Completion of the turnover will shift Westlake billing responsibility to TRA. ITotal Estimated Cost: LTD Actual Cost: Cost to Complete: 200,000 $ 37,191 $ 162,809 Is Fundinq Source(s): Status: I Residual funds from other projects Professional services contract has been awarded to RJN Group, Inc.for the evaluation of the condition and capacity of the N-1 sewer line. I Completion Date: Contract with RJN is complete I Title: Location: Project Description: 8"sewer line Heatherwood Estates This project involves providing sanitary sewer service to the I Royal Oaks Estates Twin Creek Estates indicated neighborhoods which are experiencing problems with septic systems;also to improve groundwater quality within the city. irTotal Estimated Cost: LTD Actual Cost: Cost to Complete: 1,000,000 $ 81,313 $ 918,687 Is Page 8 CITY OF SOUTHLAKE,TEXAS FY 2007-08 CAPITAL IMPROVEMENTS PLAN --Sewer System Improvement Projects -- Report Date: December 31, 2008 Funding Source(s): Status: Tax&Revenue Certificates of Obligation Engineering and design in progress (issued in 2008) Completion Date: Summer 2009 I t ' Page 9 I CITY OF SOUTHLAKE, TEXAS I FY 2007-08 CAPITAL IMPROVEMENTS PLAN --Crime Control Fund Projects -- irReport Date: December 31, 2008 Title: Location: Project Description: EDPS East facility Central DPS facility to be located Design and construction of a centrally located DSP facility. at 667 N.Carroll Ave. E ITotal Estimated Cost: LTD Actual Cost: Cost to Complete: $ 13,211,950 $ 8,888,806 $ 4,323,144 EFunding Source(s): Status: Crime Control sales tax Construction is in progress Completion Date: Fall 2009 I ir Title: Location: Project Description: Town Square video surveillance Town Square To strategically place fixed and moveable video cameras at lir Town Square and Grand Ave. Cameras will be monitored and recorded. Will help provide a sense of safety and I I security in Town Square,as well as provide a valuable tool in the prevention and investigation of crime. Total Estimated Cost: LTD Actual Cost: Cost to Complete: $ 650,000 $ 292,868 $ 357,132 Funding Source(s): Status: Crime Control sales tax 31 cameras are installed at the East and West parking r garages, Hilton Hotel,Harkins Theatre and Town Hall. Completion Date: Summer 2009 r lib I i.... 4 r lift Page 10 C CITY OF SOUTHLAKE,TEXAS FY 2007-08 CAPITAL IMPROVEMENTS PLAN --Crime Control Fund Projects -- iii..- Report Date: December 31,2008 Title: Location: Project Description: C DPS East facility Central DPS facility to be located Design and construction of a centrally located DSP facility. at 667 N.Carroll Ave. E • ETotal Estimated Cost: LTD Actual Cost: Cost to Complete: $ 13,211,950 $ 8,888,806 $ 4,323,144 LFundinq Source(s): Status: Crime Control sales tax Construction is in progress ECompletion Date: Fall 2009 ETitle: Location: Project Description: L Town Square video surveillance Town Square To strategically place fixed and moveable video cameras at Town Square and Grand Ave. Cameras will be monitored and recorded. Will help provide a sense of safety and security in Town Square,as well as provide a valuable tool in the prevention and investigation of crime. Total Estimated Cost: LTD Actual Cost: Cost to Complete: E $ 650,000 $ 292,868 $ 357,132 EFundinq Source(s): Status: Crime Control sales tax 31 cameras are installed at the East and West parking C garages,Hilton Hotel,Harkins Theatre and Town Hall. Completion Date: Summer 2009 L L L 6. lr Page 11 I CITY OF SOUTHLAKE, TEXAS I FY 2007-08 CAPITAL IMPROVEMENTS PLAN --Southlake Parks Development Corp. Improvement Projects -- IPReport Date: December 31,2008 Title: Location: Protect Description: IRoyal&Annie Smith Park 3001 Johnson Rd. Design,engineering and construction of an asphalt drive developments P and parking area off Johnson Road,24'pavilion, irrigation, amenities such as benches,etc.farm implement display, 4 I fine grading, landscaping,trail additions and playground. 41 / Total Estimated Cost: LTD Actual Cost: Cost to Complete: $ 451,652 $ 212,154 $ 239,498 4 L Funding Source(s): Status: Sales Tax Revenue Bonds Construction is in progress ECompletion Date: Spring 2009 1 i Title: Location: Project Description: L Liberty Park at Sheltonwood Dove at Ridgecrest Design,engineering and construction of crushed granite drive and parking,2-24'pavilions, irrigation,amenities, landscape improvements, utility upgrades,basic I 1 remodeling of existing pavilion,trails(2,300 I.f.), playground, sand volleyball and horshoes. Total Estimated Cost: LTD Actual Cost: Cost to Complete: I : $ 837,348 $ 356,008 $ 481,340 Funding Source(s): Status: Sales Tax Revenue Bonds Construction is in progress ECompletion Date: Spring 2009 Title: Location: Project Description: Land acquisition for multi-use Various Purchase of approximately 40-acres for lighted sports facility complex.A new Community Park would be ideal to house a C large number of the fields and minimize the alternative of decentralizing lighted facilities. 4 Total Estimated Cost: LTD Actual Cost: Cost to Complete: $ 2,238,000 $ 1,095,586 $ 1,142,414 Funding Source(s): Status: CSales Tax Revenue Bonds Expenditures to date have been for Miles property at Page 12 L CITY OF SOUTHLAKE, TEXAS L FY 2007-08 CAPITAL IMPROVEMENTS PLAN --Southlake Parks Development Corp. Improvement Projects -- i - Report Date: December 31, 2008 Bob Jones Park. 1 Completion Date: When funds are depleted ICTitle: Location: Project Description: Texas Parks and Wildlife trail Walnut Grove trail system Improvements to the Walnut Grove trail system. C restoration grant,matching fund participation Bob Jones Trailhead 4 covered picnic tables and corral fencing. Walnut Grove Trailhead-2 covered picnic tables. Erosion control and improvements to trail surfaces and p natural water crossings. III Total Estimated Cost: LTD Actual Cost: Cost to Complete: F $ 44,950 $ 6,736 $ 38,214 116 Funding Source(s): Status: ISales Tax Revenue Bonds, On hold Matching Funds from Southlake Mounted Patrol I i Completion Date: Fa112008/Spring 2009,weather permitting CTitle: Location: Proiect Description: Bicentennial Park design and Bicentennial Park Phase I improvements as part of the Bicentennial Park development schematic design include: Shady Oak entrance/road/round-a-bout;west baseball four-plex and parking;drainage improvements with pond enhancements; I FM 1709 entrance improvements;Evans house modifications;Tennis Courts(from Phase III) Total Estimated Cost: LTD Actual Cost: Cost to Complete: $ 1,200,000 $ 943,562 $ 256,438 4, I Funding Source(s): Status: SPDC Operating Fund Design is 95%complete,construction documents are 70% C complete Completion Date: Spring 2009 4 E 11 Page 13 r ''' :1;. .-. '. :t MID , 74 ,,, i t, • k . -- ' -..-' S' -ii tif1111111 N. _ ),\ , 0....-- %, 6 Ptak V- . - \\14;t4.,4 ..,,c ; - ' .iC€ l First Southwest Asset Management Economic Summary 4th Quarter 2008 MAJOR EVENTS yields down by 25 to 30 basis points and making it cheaper for A major theme in the third quarter was the series of unexpected Fannie, Freddie and the Federal Home Loan Banks to borrow funds. financial events that shattered investor confidence, ushered in The more desired effect was that mortgage lending rates began certain recession and prompted an abrupt shift in expected Fed moving significantly lower, opening the door for refinancing and policy. The fourth quarter theme was recession, as virtually all providing some financial incentive for those borrowers who were economic data releases were terrible,sending the media scrambling still considered credit worthy. to history books searching for data comparisons to the Great Depression. The quarter began with Congress fiercely debating On December 1st, the National Bureau of Economic Research the proposed financial market bailout During the second week of (NBER)officially declared that a recession had begun ...a year ago. L October as critics showed disdain for what they viewed as a vague Usually, by the time a recession has been identified, it's just about and hastily constructed plan, the DOW dove an astonishing 1,874 over. Not this time.The November employment report showed that points. At one point,the index was down 2,440 points,a 24%plunge 533k jobs were lost during the month,the largest drop in 34 years, in only five days time. By contrast, the infamous 1929 crash was bringing payroll losses to 1.9 million for the year.Adding sympathetic kro track-to-back declines of 12.8%and 11.7%. The panic as felt support for an auto bailout, the Center for Automotive Research n a global scale as equity markets around the world tumbledumbled along projected that a total collapse of the U.S.auto industry could lead to with the United States. At week's end,the U.S. Central Bank along the loss of another 2.5 million jobs.Before the year ended,$13 billion with the European Central Bank, England, Canada and Sweden all in TARP funds would be allocated to Chrysler and GM;tiding them cut key short-term interest rates by 50 bps in a rare coordinated over for the time being. On December 11th, market confidence was emergency move.Over the next two days,185 member nations of the dealt another severe blow as authorities learned that Bernie Medoff, IMF met and pledged to use "all available tools"to ensure that"no the former President of the NASDAQ stock exchange,had operated systemically important financial institution failed." This bold unified a Ponzi scheme disguised as a hedge fund that had reportedly lost action seemed to stop the bleeding but not the extreme volatility. a staggering $50 billion in investor cash. In its final FOMC meeting Investor trust was severely damaged.Only two weeks after gaining of the year,the Fed cut overnight rates yet again to a historical low approval for the$700 billion rescue plan,referred to as the Troubled range of zero to 0.25%.If there was a bright spot during the quarter, Asset Relief Program(TARP),the Treasury department announced it was that inflation all but evaporated amid the deteriorating global that it would direct$250 billion in TARP funds to shore up the nation's economy with crude oil dropping below$40 per barrel and gas prices banks, a sharp deviation from the original plan to purchase toxic falling to$1.50 per gallon. financial assets.At the same time,the FDIC announced that it would begin insuring all non-interest bearing deposits and would begin a temporary program to insure new bank debt. These actions were H OUSIII • intended to encourage banksto lend more freely.Unfortunately,most banks simply sat on the money.Although it may be too early to get an Last December, the National Association of Realtors issued a accurate reading,the October Senior Loan Officer Survey revealed press release entitled "Existing Home Sales to Trend Up in 2008". I that 70% of banks said they'd made it more difficult to obtain prime mortgages while 65% tightened standards on consumer loans. By You can't blame the Realtors for trying, but this optimism turned out to be wishful thinking as an 8.6% drop in November 2008 sales the end of October,consumer confidence had plunged to the lowest hammered home the point that the housing market was still in level since recordkeeping began in 1967 and the Fed had cut the terrible shape.Since reaching a peak in the summer of 2005,existing L overnight rate by another 50 bps to 1.0%. home sales have fallen by 38%,while new home sales dropped a massive 71%.This has driven home inventories to record highs at On November 25th,the Fed announced even more massive initiatives the same time the number of qualified buyers has shrunk by nearly intended to increase market liquidity and encourage borrowing.L two thirds.New home inventories are at a staggering 11.5 months �'They proposed to lend up to $200 billion to holders of consumer supply while the supply of unsold condos has reached 16.7 months. related asset-backed securities, purchase up to$100 billion in GSE New construction has virtually ceased. Housing starts fell by 18% debt and up to $500 billion in agency mortgage-backed securities. in November to the lowest level since recordkeeping began.With The announcement had an immediate effect on agency debt,driving homeownership near a record high of 68%,the question becomes, I 1300 was 6.7%,but was largely expected to reach 7% in December. Most E ,zoo— _- experts predicted that later in 2009 unemploymentwould reach 8%for the first time in 25 years.The WSJ reported that a broader measure Al, 70D— of unemployment,which includes those who want to work but are no 11.,"Imo— - _ ` longer seeking employment,jumped to 12.5%in November. ° _ 1- 900— Ty ir w B°0— ir onsumer ' en . in • • n - C goo- Clearly, consumers aren't spending money on housing, nor are they 1 ; swam Existing"ome Sales spending money on automobiles. Auto sales fell by an astonishing Boo— New Home Sales 30% in November to an annualized pace of only 10.2 million units, Boo— — a sharp decline from 2007's pace of over 16 million. The decline 400 + + + + + ) + ( + + + + + + + + + + + + + ( „ + + , + , „5, was led by Chrysler at 49%, followed closely by GM at 41%. The possibility that one, if not all, of the big three automakers could gg g m t t t t t m m m declare bankruptcy dominated headlines in December. New and Existing Home Sales Annualized by Month The lack of spending is an interesting paradox.The U.S. economy is consumer-driven.This means that for economic growth to pick up,the exactly who will purchase this bloated inventory of available consumer has to start spending money again.Until recently,borrowed homes? With an imbalance of sellers and buyers, prices have money fueled much of the spending.Saving rates were near zero.For dropped at an alarming rate —the Case Shiller home price index years,cash-out refinancing injected hundreds of billions into consumer's fell another 2.2% in October and is now down 18%year-over-year pockets.The labor market was growing and confidence was high.But and more than 23% from its peak. CNN Money reported that a all of that has changed. Consumer confidence dropped to a historical record 1.35 million homes were in foreclosure in the third quarter, low of 38 in December. People are fearful of losing their jobs, credit I pushing the foreclosure rate to 2.97%,while the WSJ reported that standards have tightened,home equity has been fully drained and there one in ten American mortgages are either delinquent or already in are no rainy-day savings to draw on.So,the consumer is finally starting foreclosure. On a bright note,the last weekly Mortgage Banker's to act responsibly...which ironically has stifled economic growth.The Association survey of the year showed an average 30-year fixed savings rate has jumped from 0.8%to 2.8%in justfour months while retail rate of 5.03%, down from 5.99%five weeks earlier and well belowkr sales have collapsed,posting a record five straight negative months.All he Q3 average of 6.31°/D. hope for a yearend holiday spending rally has been snuffed out.Master Card's"Spending Pulse Index"is indicating as much as an 8%decline II I m in year-over-year holiday spending.Many experts believe that the 2008 • o me nt holiday season was the worst in decades for retailers. Unemployment Rote(Left Hand Scale) Change in Non-Farm Payrolls(Rip ht Hand Scale) I200 1-1 n ' n atton ri 6.0'� ILJ1 .� ;� ...IOC 5.0�. B.o— i --200 4.5� e.D— 4- 4.0� —-300 3.5 1 3.0— —t aoo 3.0-4' z.D— 2.5 p ,0- - — soD 1.5 y • 111 Do., �'-700 .0'� . �. w o z v m m a i _ a v z v 0.5'' �; I.,. b m m m t m bm .. m � m �, m m 0.0 t I ®Changein Non,arm Payrolls Unem ploym entR ate -0.5y o 0 0 0 _ o o c m -1.00 1'`f 'r , 1` r T, T Y 1 S -a-1' T r.�1 lo izr Employment d ' m ' Unemployment Rate and Change in Non-Farm Payrolls m m m °° m m m 14 ■CPI■Core Payroll growth had been negative each month in 2008, an abrupt Consumer Price Index: change from 2007 which experienced nothing but positive growth. Core and All Items, Year over Year But the decline had been fairly marginal until the fourth quarter.The I November payroll report was a disaster with 533k jobs lost,the most The shift in inflationary pressure during the quarter has been in 34years.Downward revisions increased job losses by an additional unexpected, unprecedented and welcomed. Just six months ago, 383k in the four months prior. Through November, 1.9 million jobs the June ISM prices paid index surged to a shocking 30-year high had been lost during the year with most experts calling for another 500k drop in the final month. The unemployment rate for November of 91.5. Following a CPI report in which food prices soared to their highest level in 18 years, Dallas Fed President Fisher claimed that I he"didn't know a single person on the FOMC that wasn't concerned they're saving their money. The savings rate in the U.S. has Iabout inflation" while Philadelphia Fed President Plosser said that risen sharply for four months in a row, moving from 0.8% in "it was clear rates would have to rise".The minutes to the August August to 2.8% in November. Personal savings had been on a 1 '-OMC meeting clearly stated the Fed's next intended move would be steady decline since 1982 when it was 10.9%. By contrast, in k.,,,„J tighten rates.They were wrong. 2005 the rate was actually negative.By hoarding cash,instead of spending, the now thrifty consumer isn't cooperating in By December,the ISM prices paid index had dropped all the way to the recovery effort. President-elect Obama hopes to change 18,the lowest level since 1949. Overall CPI fell by 1.7% in November, this through the introduction of a massive stimulus package Ithe biggest single month drop since recordkeeping began in 1947.On to be unveiled after the January inauguration. Details are still a year-over-year basis,CPI had declined from an inflationary 5.4%rate being hatched, but the likely plan will involve large-scale job in July to a very deflationary rate of 1.1%in November.The key to the creation through a New Deal-like series of infrastructure and 1 drop in price pressures was energy.Oil prices plunged from a record technology projects. high of$147 per barrel in July to below$40,while gas prices fell from an average of$4.17 per gallon to$1.68 by the end of the year. The good news will eventually come,although things will likely appear worse before they get better. Falling commodities I prices, in particular gasoline, will help ease the pain of StOC ' ar et recession. Most experts predict further price decreases in 2009. Few expect the housing market to bottom out until later IThe DOW,S&P and NASDAQ lost 19%,23%and 25%in the final quarter in 2009,although 30-year mortgage rates near 4.50%and home to reach total losses of 37%,38% and 41% during the year. From the prices 25%to 30%below their highs will be nice enticements low point in October, all major indices rallied significantly with the to buyers and potential investors. There will be refinancing DOW,S&P and NASDAQ rebounding by 16%,20%and 20%in the finalI opportunities and many floating rate loans will reset in 2009 two months. Some-widely held notions have been challenged this at significantly lower levels.Auto credit will be looser in 2009. year,threatening to limit the equity rebound.The idea that stocks act GMAC, after accepting$5 billion in TARP funds in December, as an inflation hedge,and that equities have a place in the portfolios of promptly lowered the minimum qualifying FICO score from 700 Iretirees might be tough to re-establish in the near term. to 621.(The median FICO score in the U.S.is 723.) S&P Interest rates,which are now at unimaginably low levels, are DOW 500 NASDAQ expected to remain low for a similar period. In fact,when the icilv 9/30/08 10,850 1,166 2,092 Fed lowered the overnight funds rate to near zero in December, 12/31/08 8,776 903 1,577 they pledged to keep it there for an extended period of time. Normally,when the economy enters recession,the Fed lowers ( %Change for Q4-2008 -19% -23% -25% borrowing costs which discourages savings and encourages borrowing among both consumers and businesses seeking to expand.The problem this time is obvious;the Fed has run out nterest ates of ammunition,at least on the traditional monetary policy side. I The alternative is to concentrate on new and existing lending programs as well as direct purchases of mortgage-backed and Fed 3 mo 6 mo 2 yr 3 yr 10 yr other illiquid securities.Since Q4 began,this costly method of C Funds T-bill T-bill T-note T-note T-note creating liquidity has more than doubled the Fed's balance Last 9/30/08 2.00% 0.53% 1.46% 1.71% 2.75% 3.63% sheet from$900 billion to$2 trillion ...and counting. High 1.08% 1.61% 1.82% 3.01% 4.08% During the quarter, the 10-year Treasury-note yield fell by II Low -0.02% 0.14% 0.68% 1.26% 2.05% 142 basis points to the lowest yield in more than 50 years. On several occasions, 1-month and 3-month Treasury-bills End 12/31/08 0.25% 0.08% 0.26% 0.77% 1.55% 2.21% traded at negative yields, meaning that investors accepted II zero interest and actually received back less principal than they had invested.The Fed cut the overnight target to a range of 0% to 0.25% in December as repo rates traded at 0.05%. S 11 11 • 0 Ut 00 Unfortunately,there is little reason to expect a return to higher 111 rates in 2009. That would imply that the Fed was tightening There have been 11 U.S. recessions declared since the Great credit and in order for that to occur,the Fed would have to Depression. The typical length is about 10 months. The two most sense inflation or that a significant economic recovery was severe lasted 16 months.Butthis one is quite a bit different.Forecasts underway.Neither of which is likely to happen anytime soon. for a quick turnaround are few and far between. Most experts The best advice at this point is to take whatthe market offers; now predict that GDP fell by as much as 6.5% in the fourth quarter don't take on additional credit risk and don't extend maturities Land that the economy will stay in recession for much, if not all of beyond cash flow expectations.Take a deep breath and take .,. 2009. There is a major inventory overhang in durable goods which solace in the fact that we're all in this together. suggests a significant cut in industrial production in the coming quarter. The labor market has fallen off a cliff in recent months Scott McIntyre,CFA and job loss can be self-perpetuating. Unemployment is generally Senior Portfolio Manager expected to rise to 8% or higher in 2009.Consumers are scared and January 5,2009 L ' CITY OF SOUTHLAKE a, TEXAS REGULAR CITY COUNCIL MEETING: FEBRUARY 3, 2009 LOCATION: 1400 Main Street, Southlake, Texas 76092 Council Chambers in Town Hall WORK SESSION: 5:00 P.M. 1. Call to order. 2. Invocation: Doug Allison, Chaplain of the Month 3. Presentation: Storm Water Management and Erosion Control (There may be a quorum of the Planning and Zoning Commission for this discussion.) L 4. Discuss all items on tonight's meeting agenda. No action will be taken and each item will be considered during the Regular Session. I [ REGULAR SESSION: 6:00 P.M. or immediately following the work session 1 . Call to order. 2. A. Executive Session: Pursuant to the Open Meetings Act, Chapter 551, Texas Government Code, Sections 551.071, 551.072, 551.073, 551.074, 551.076, 551 .087, 418.183(f), and 418.106(d) & (e). Refer to posted list attached hereto and incorporated herein. Executive Session may be held, under these exceptions, at the end of the Regular Session or at any time during the meeting that a need arises for the City Council to seek advice from the City Attorney as to the posted subject matter of this City Council meeting. 1 . Section 551.071: Consultation with attorney a. Seek the advice of the city attorney regarding legal issues related to storm water management and erosion control. 2. Section 551.087: Deliberation regarding economic development negotiations a. Economic incentives for businesses. B. Reconvene: Action necessary on items discussed in Executive Session. 3. REPORTS: A. Mayor's Report 1. Update of upcoming meetings and events 'I B. City Manager's Report City of Southlake values: Integrity♦ Innovation ♦ Accountability♦ Commitment to Excellence ♦ Teamwork City of Southlake City Council meeting agenda February 3, 2009 Page 2 of 6 1 . George Weidenhof recognition C. Library Board Report D. Local Business Report CONSENT AGENDA: All items listed below are considered to be routine by the City Council and will be enacted with one motion. There will be no separate discussion of items unless a Councilmember or citizen so requests, in which event the item will be removed from the general order of business and considered in its normal sequence. ' 4. Consent: A. Approve minutes from the January 20, 2009 regular City Council meeting. ' B. Resolution No. 09-002, Call a General Election and a Special Election for May 9, 2009. P C. Award construction contract for Segments 'A' and `F' of the T.W. King 30- inch water supply line to Circle C Construction, Ltd. in the amount of $2,635,235 and authorize construction phase contingencies. b D. Approve four T-Mobile water tower lease agreements for cellular equipment on the Dove, Miron, Florence, and Bicentennial water towers. E. Approve a scope of service agreement with the Southlake Chamber of Commerce for 2008-2009. F. Approve the renewal of landscape maintenance contracts with TruGreen LandCare. G. Approve an Interlocal Agreement and the Joint Purchase of a mobile stage with the City of Keller. Resolution No. 09-004, Authorize the selection of the construction NH.I manager at risk method of delivery for construction of the DPS North Training facility. Resolution No. 09-005, Approve and authorize publication of notice of intention to issue certificates of obligation for capital improvement projects. J. ZA07-144, Site Plan for Lot 1 , Players Circle on property being legally described as Lot 1, Block 1, Players Circle Addition and being located at 1901 West Southlake Boulevard. Current Zoning: C3 General Commercial I District. SPIN Neighborhood #16. THIS ITEM HAS BEEN TABLED TO THE FEBRUARY 17, 2009 CITY COUNCIL MEETING. L City of Southlake values: Integrity♦ Innovation ♦ Accountability• Commitment to Excellence ♦ Teamwork City of Southlake City Council meeting agenda February 3, 2009 Page 3 of 6 F K. Ordinance No. 480-579, 1st Reading (ZA08-062), Zoning Change and Concept Plan for 520 South White Chapel Boulevard on property being described as Tract 3E, Hiram Granberry Survey, Abstract No. 581 and being located at 520 South White Chapel Boulevard. Current Zoning: AG Agricultural District. Requested Zoning: SF-20A Single Family Residential District. SPIN Neighborhood #14. THIS ITEM HAS BEEN TABLED TO THE FEBRUARY 17, 2009 CITY COUNCIL MEETING. REGULAR AGENDA: 5. Public Forum. (The Public Forum will not begin prior to 7:00 p.m.) 6. Ordinances, second readings, public hearings, and related items: A. Ordinance No. 480-578, 2nd Reading (ZA08-075), Zoning Change and Development Plan for Ridgeview at Southlake being Tracts 2A, 2A1, 4 2A5C, and 2A6, W.R. Eaves Survey, Abstract No. 500 and Tracts 1 and 1C, Thomas J. Thompson Survey, Abstract No. 1502 and located at 505, 507, 511, 515, and 519 Davis Boulevard. Current Zoning: AG Agricultural '1 lib District, S-P-1 Detailed Site Plan District, and SF-20A Single Family Residential District. Proposed Zoning: TZD Transition Zoning District. SPIN Neighborhood #16. PUBLIC HEARING I L B. ZA08-102, Preliminary Plat for Ridgeview at Southlake being Tracts 2A, 2A1, 2A5C, and 2A6 W.R. Eaves Survey, Abstract No. 500 and Tracts 1 and 1 C, Thomas J. Thompson Survey, Abstract No. 1502 and being located at 505, 507, 511, 515, and 519 Davis Boulevard. Current Zoning: AG Agricultural District, S-P-1 Detailed Site Plan District, and SF-20A 4 Single Family Residential District. Proposed Zoning: TZD Transition Zoning District. SPIN Neighborhood #16. C. Ordinance No. 480-197a, 2nd Reading (ZA08-111), Zoning Change and Site Plan for Snow's Gymnastics Center on property being described as Lot 9, J.G. Allen No. 18 Addition and being located at 401 and 407 South Pearson Lane. Current Zoning: S-P-1 Detailed Site Plan District. Requested Zoning: S-P-1 Detailed Site Plan District. SPIN Neighborhood #15. PUBLIC HEARING y D. ZA08-096, Plat Revision for Lots 9R1 and 9R2, J.G. Allen No. 18 Addition (Snow's Gymnastics Center) on property being a revision of a Lot 9, J.G. Allen No. 18 Addition and being located at 401 and 407 South Pearson Lane. Current Zoning: S-P-1 Detailed Site Plan District. Proposed Zoning: I L S-P-1. SPIN Neighborhood #15. 7. Ordinances, first readings, and related items: ibb City of Southlake values: Integrity♦ Innovation ♦ Accountability♦ Commitment to Excellence ♦ Teamwork City of Southlake City Council meeting agenda February 3, 2009 Page 4 of 6 IFA. Ordinance No. 480-187b, 1st Reading (ZA08-109), Zoning Change and Site Plan for The Spanish Schoolhouse at the 280 Sports Complex on property being described as Lot 2R, Block B, Commerce Business Park Addition and being located at 280 Commerce Street. Current Zoning: S- P-1 Detailed Site Plan District. Requested Zoning: S-P-1 Detailed Site I Plan District. SPIN Neighborhood #7. (If approved at first reading, the public hearing will be held February 17, 2009.) P 8. Resolutions: (There are no items on this agenda.) 9. Other items for consideration: • A. Approve the conceptual design for park monument signage. . k10. Other items for discussion: (There are no items on this agenda.) 11. Meeting adjourned. li CERTIFICATE I I hereby certify that the above agenda was posted on the official bulletin boards at Town Hall, 1400 Main Street, Southlake, Texas, on Friday, January 30, 2009, by 6:00 p.m., pursuant to the Texas Government Code, Chapter 551. 1. hot: P . .. ,,,,,,,, c),:.!... ici,.,,,,..:. ..,-..(f ..... - -.:, •• rti •...AI:. m� Lori Payne, TRMC • .o s • City Secretary : o :o If you plan to attend this public mei3ting.>. hau2"a disability that requires special needs, please lb advise the City Secretary's Office 48`hbt)Ys in advance at 817-748-8016 and reasonable accommodations will be made to assist you. kir I -tow City of Southlake values: Integrity♦ Innovation • Accountability♦ Commitment to Excellence ♦ Teamwork ibb City of Southlake City Council meeting agenda February 3, 2009 Page 5 of 6 EXECUTIVE SESSION Section 551.071: Consultation with attorney The City Council may conduct a private consultation with its attorney when the City Council seeks the advice of its attorney concerning any item on this agenda, about pending and contemplated litigation, or a settlement offer, or on a matter in which the duty of the attorney to the City Council under the Texas Disciplinary Rules of Professional Conduct of the State Board of Texas clearly conflicts with Chapter 551. This includes the following pending and/or contemplated litigation subjects: 1. James Lancaster and wife, Catherine Lancaster vs. Gary M. Gordon d/b/a Gordon Taylor Custom Homes, Carleo A. Capili and wife, Regina Capili and John R. Griggs and wife, Sally Griggs, Jill T. Gordon, and City of Southlake. July 2004. 2. Michael Kenny vs. City of Southlake. April 2008. 3. Jayson Steele vs. City of Southlake. August 2008. Section 551.072: Deliberation regarding real property The City Council may conduct a closed meeting to deliberate the purchase, exchange, lease or value of real property. I _ Section 551.073: Deliberation regarding prospective gift or donation The City Council may conduct a closed meeting to deliberate a negotiated contract for a prospective gift or donation to the City. Section 551.074: Deliberation regarding personnel matters The City Council may deliberate the appointment, employment, evaluation, reassignment, duties, discipline, or dismissal of public officers, including the City Manager, City Secretary, City Attorney, Municipal Judge and city boards and commission members. A complete list of the city boards and commissions is on file in the City Secretary's Office. Section 551.076: Deliberation regarding security devices The City Council may deliberate the deployment, or specific occasions for implementation of security personnel or devices. Section 551.087: Deliberation regarding economic development negotiations The City Council may discuss or deliberate regarding commercial or financial information received from a business prospect that the city seeks to have locate, stay, or expand in or near the city and which the City is conducting economic development negotiations; or to deliberate the offer of a financial or other incentive to a business prospect as described above. I II 11v City of Southlake values: F Integrity ♦ Innovation ♦ Accountability♦ Commitment to Excellence ♦ Teamwork City of Southlake City Council meeting agenda February 3, 2009 Page 6 of 6 IP° Section 418.183(f): Texas Disaster Act The City Council may deliberate information: 1) for purposes of preventing, investigating, or responding to an act of terrorism or related criminal activity and involving emergency response providers, their staffing, contact information and tactical plans; 2) that relates to the risk or vulnerability of persons or property, including infrastructure, to an act of terrorism; 3) that relates to the assembly of an explosive weapon, the location of a material that may be used in a chemical, biological or radioactive weapon, or unpublished information pertaining to vaccines or devices to detect biological agents or toxins; 4) that relates to details of the encryption codes or security keys for a public communication system; 5) that relates to a terrorism-related report to an agency of the United States; 6) that relates to technical details of particular vulnerabilities of critical infrastructure to an act of terrorism; 7) that relates to information regarding security measures or security systems intended to protect public and private 111 property from an act of terrorism. The Texas Disaster Act specifically requires that a tape recording of the closed meeting be made. Section 418.106(d) & (e): Local meetings to discuss emergency management plans regarding pipeline safety The City Council may discuss emergency management plans involving pipeline safety and/or security of pipeline infrastructures or facilities when those plans or discussions contain such sensitive information. • I ILCity of Southlake values: Integrity♦ Innovation • Accountability• Commitment to Excellence ♦ Teamwork STATE OF TEXAS § CITY OF SOUTHLAKE § CERTIFIED AGENDA CITY COUNCIL I, Mayor Andy Wambsganss, CITY OF SOUTHLAKE, TEXAS, HEREBY CERTIFY AS FOLLOWS: 1. That notice of an executive session in accordance with Chapter 551 of the Texas Government Code was duly posted along with the Regular Agend. • the 2-—3 , City Council meeting on , by (o'•(D a.m./OP 2. That the City Council convened in executive session on Z 3—01 , at 1112- , a.m. with the following Councilmembers and staff members present: Mayor Andy Wambsganss Shana Yelverton, City Manager John Terrell Jim Blagg, Assistant City Manager Virginia M. Muzyka Ben Thatcher, Assistant City Manager -Laura K. Hill Able, 4 Lori Payne, City Secretary CFe -Jeees- City Attorney 'r►vk Spa I(a- Vernon Stansell Other staff members: Pamela Muller 3. That the matters discussed by the City Council were as follow (1) AeletAit& -(- A toe S14'2 4r. ljv►c (S wwr,66 Other staff members present for (1): J-er &Pcice} C.t,nS Other staff members present for (2): C ) ATNia 14 , 1 s,-ie P� -&- Q SPA 1z0( Other staff members present for (3): 4 km.-- &i.4?-f , 0,tvr s ( t(.ei n(3) Ecoor►�.i.e, (AC ves �or lousfnes5e5— ;.�5 �� J Other staff members present for (4):\ & J 9 eb Lo Rfce)e)A,fi (rdooe) N (5) 1�,c j cs(") -e Other staff members present for (5): 4. No formal action was taken by the Council during executive session. 5. That the executive session ended on 2'�j�a�] at 7 SI a.m.O Pa.m(Lori Payne Andy Wambsganss City Secretary Mayor N:\City Secretary\Forms\certified agenda 2008.doc