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2009-08-04 CC Packet C CITY OF SOUTHLAKE TEXAS REGULAR CITY COUNCIL MEETING MINUTES: AUGUST 4, 2009 LOCATION: 1400 Main Street, Southlake, Texas City Council Chambers Special note: In addition to the regular meeting, a joint work session was held with the Planning and Zoning Commission to receive a joint presentation from staff on case ZA09-034. CITY COUNCIL PRESENT: Mayor John Terrell, Mayor Pro Tern Virginia M. Muzyka, Deputy Mayor Pro Tern Laura K. Hill, and Councilmembers Brandon Bledsoe, Gregory Jones, Carolyn Morris, and Pamela A. Muller. CITY COUNCIL ABSENT: None. STAFF PRESENT: City Manager er 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 k, Community Services Chris Tribble, Construction Manager Peter Kao, Director of Economic Development Greg Last, Director of Finance Sharen Jackson, Director of Human Resources Kevin Hugman, Director of Information Technology Dale Dean, Information Technology Technician Eric Lusk, Director of Planning and Development Services Ken Baker, Chief Building Official Paul Ward, Planner I Daniel Cortez, Administrative Secretary Stephanie Breitbarth, Chief of Police Services Robert Finn, Deputy Chief of Fire Services Bryan Thomas, Director of Public Works Robert Price, Deputy Director of Public Works Gordon Mayer, City Attorney E. Allen Taylor, and City Secretary Lori Payne. WORK SESSION: PLANNING AND ZONING COMMISSION MEMBERS PRESENT: Chairman Al Morin, Vice-Chairman Darrell Faglie, and Commissioners Robert Hudson, Joe Lancor, Brigham McCown, and Jeff C. Wang. PLANNING AND ZONING COMMISSION MEMBERS ABSENT: Commissioner Michael Springer. Agenda Item No. 1. Call to order. The joint work session was called to order by Mayor Terrell at 5:32 p.m. 4aw REGULAR CITY COUNCIL MEETING MINUTES, AUGUST 4, 2009 Page 1 of 8 C Item No. 2. Invocation. Chaplain of the Month, David Whitington,Agenda p , ave the gave Iinvocation. Mayor Terrell led the pledge of allegiance. ar Harry Bowden, 401 North Carroll Avenue, Southlake, Texas addressed the group regarding the Ridgeview at Southlake project which is no longer going forward. He thanked the elected and appointed officials and city staff for their assistance and direction throughout the initial phase of the project. Item 3A. Joint meeting with the Planning and Zoning Commission to consider the following item: Resolution No. 09-047 (ZA09-034), Site Plan for Southlake Town Square, Building GA- 2 for Storefront Modification on property described as Lot 4R, Block 3R2R, Southlake Town Square Addition and being located at 252 Grand Avenue. Current Zoning: DT Downtown District. SPIN Neighborhood #8. Director Baker presented this item to Council and the Commission. Applicant Jason Kasal of Southlake Town Square was present to answer any questions. Mayor Terrell closed the joint work session at 5:42 p.m. REGULAR SESSION: ELAgenda Item No. 1. Call to order. The regular session of the City Council was called to maw order by Mayor Terrell at 5:42 p.m. Agenda Item No. 2A. Executive Session. Mayor Terrell announced City Council would be going into Executive Session pursuant to the Texas Government Code Section 551.071, consultation with city attorney; Section 551.072, deliberation regarding real property; and Section 551.087, deliberation regarding economic development negotiations. City Council adjourned for Executive Session at 5:42 p.m. Executive Session began at 6:03 p.m. and ended at 6:27 p.m. Agenda Item No. 2B. Reconvene. Mayor Terrell reconvened the regular meeting at 6:52 p.m. and asked if any action was necessary from Executive Session. Motion was made to direct staff to proceed with the termination of the Robinson Landscape and Construction contract as discussed in the Executive Session. Motion: Muzyka Second: Jones Ayes: Bledsoe, Hill, Jones, Morris, Muller, Muzyka, Terrell Nays: None Approved: 7-0 Agenda Item No. 3A1. Mayor's Report - Update of upcoming meetings and events. Mayor Terrell announced upcoming meetings and events. L vow REGULAR CITY COUNCIL MEETING MINUTES, AUGUST 4, 2009 Page 2 of 8 C Mayor Terrell said that item 3A2 would be presented later in the meeting. -' Agenda Item No. 3B. City Manager's Report. City Manager Yelverton announced the kickoff meeting of the 2030 Plan on August 13, 2009. Agenda Item No. 3B1. City Manager's Report — Financial Report. City Manager Yelverton gave a Financial Report to Council. Agenda Item 3C. Parks and Recreation Board Report. A written report was provided to Council. CONSENT AGENDA: Consent agenda items are considered to be routine by the City Council and are enacted with one motion. Council also added items 8A, 8B, and 8C to the consent agenda. Agenda Item No. 4A. Approve minutes from the July 21, 2009 regular City Council meeting. The minutes were approved as presented. Agenda Item No. 4B. Award a construction contract for waterline relocation on F.M. 1938 to Pipeworks Construction, LLC in the amount of $112,701 and authorize i� construction phase contingencies. A presentation was not made on this item. ELAgenda Item No. 4C. Approve Amendment No. 3 to the interlocal agreement with , Tarrant County for allocation of Tarrant County bond funds being provided in conjunction with the F.M. 1938 project. A presentation was not made on this item. Agenda Item No. 4D. Resolution No. 09-045, Amend the City of Southlake Insurance Trust Agreement. 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 OF SOUTHLAKE, TEXAS, AMENDIN G THE CITY OF SOUTHLAKE INSURANCE TRUST. Agenda Item No. 4E. Approve SPDC Matching Funds request from BobJones 9 g q b o es Nature Center organization for $550 ($1,100 total cost) to purchase four benches for the nature center patio. A presentation was not made on this item. Agenda Item No. 4F. Approve professional services agreement with Dean Construction for Construction Manager at Risk services for Bicentennial Park, Phase I improvements. A presentation was not made on this item. Agenda Item No. 4G. Ordinance No. 961, 1st Reading, Amend Chapter 5, Article IV Contractor Registration Ordinance" of the Southlake City Code. A presentation was not LAP, made on this item. REGULAR CITY COUNCIL MEETING MINUTES, AUGUST 4, 2009 Page 3 of 8 C C Agenda Item No. 4H. Resolution No. 09-028, Approve the terms and conditions of a — program to promote economic development and stimulate business and commercial activity in the City; authorize the Mayor to execute an amended agreement with Southlake Land Holdings, L.P., a Texas limited partnership, by Southlake Land Holdings GP, L.L.C. a Texas limited liability company, its general partner for such purposes; and provide an effective date. 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 OF SOUTHLAKE, TEXAS, APPROVING THE TERMS AND CONDITIONS OF A PROGRAM TO PROMOTE ECONOMIC DEVELOPMENT AND STIMULATE BUSINESS AND COMMERCIAL ACTIVITY IN THE CITY; AUTHORIZING THE MAYOR TO EXECUTE AN AMENDED AGREEMENT WITH SOUTHLAKE LAND HOLDINGS, L.P., A TEXAS LIMITED PARTNERSHIP, BY SOUTHLAKE LAND HOLDINGS GP, L.L.C. A TEXAS LIMITED LIABILITY COMPANY, ITS GENERAL PARTNER FOR SUCH PURPOSES; AND PROVIDING AN EFFECTIVE DATE. Agenda Item No. 8A. Resolution No. 09-048, Authorize the cityattorneyto bring condemnation action for the purpose of obtaining a right-of-way easement for the Ellie purpose of constructing an 8 foot wide multi-purpose trail located on Tract 1A01, J.L. Chivers Survey, Abstract No. 348, located at 600 East Dove Road. A presentation was not made on this item. In accordance with Section 4.21 of the CityCharter, the caption for this item is listed as follows: A RESOLUTION OF THE CITY OF SOUTHLAKE, TEXAS AUTHORIZING THE CITY ATTORNEY TO BRING A CONDEMNATION ACTION FOR THE PURPOSE OF OBTAINING A RIGHT-OF-WAY EASEMENT FOR THE PURPOSE OF CONSTRUCTION OF A MULTIPURPOSE TRAIL OR FOR OTHER PUBLIC PURPOSES PERMITTED BY LAW. Mayor Terrell allowed thepublic to speak on this item. Y p John Koldus, 600 East Dove Road, Southlake, Texas spoke in opposition to this item. Patricia Gilliland, 680 East Dove Road, Southlake, Texas asked about the purpose of the trail. Jerry Gilliland, 680 East Dove Road, Southlake, Texas spoke regarding the sewer service in this area. REGULAR CITY COUNCIL MEETING MINUTES, AUGUST 4, 2009 Page 4 of 8 C ,, , N . 8B. Resolution No. 09-049, Authorize the city attorney Item o to bring condemnation action for the purpose of obtaining a right-of-way easement for the purpose of constructing an 8 foot wide multi-purpose trail located on Tract 2B1A, J.L. Chivers Survey, Abstract No. 348, located at 680 East Dove Road. 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 OF SOUTHLAKE, TEXAS AUTHORIZING THE CITY ATTORNEY TO BRING A CONDEMNATION ACTION FOR THE PURPOSE OF OBTAINING A RIGHT-OF-WAY EASEMENT FOR THE PURPOSE OF CONSTRUCTION OF A MULTIPURPOSE TRAIL OR FOR OTHER PUBLIC PURPOSES PERMITTED BY LAW. Agenda Item No. 8C. Resolution No. 09-050, Authorize the city attorney to bring condemnation action for the purpose of obtaining a right-of-way easement for the purpose of constructing an 8 foot wide multi-purpose trail located on Tract 2B, J.L. Chivers Survey, Abstract No. 348, located at 670 East Dove Road. 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 Et follows: A'" A RESOLUTION OF THE CITY OF SOUTHLAKE, TEXAS AUTHORIZING THE CITY ATTORNEY TO BRING A CONDEMNATION ACTION FOR THE PURPOSE OF OBTAINING A RIGHT-OF-WAY EASEMENT FOR THE PURPOSE OF CONSTRUCTION OF A MULTIPURPOSE TRAIL OR FOR OTHER PUBLIC PURPOSES PERMITTED BY LAW. Motion was made to approve consent agenda items 4A; 4B; 4C; 4D; 4E; 4F; 4G; 4H; 8A; 8B; and 8C. Motion: Muzyka Second: Hill Ayes: Bledsoe, Hill, Jones, Morris, Muller, Muzyka, Terrell Nays: None Approved: 7-0 REGULAR AGENDA: Agenda Item No. 5. Public Forum. No one spoke during the public forum. Agenda Item No. 3A2. Special recognition of Eric Wang. Mayor Terrell presented a proclamation to Eric Wang for his many years of service to the City. Limy REGULAR CITY COUNCIL MEETING MINUTES, AUGUST 4, 2009 Page 5 of 8 Agenda Item No. 6A. Ordinance No. 959, 2nd Reading, Approve a negotiated resolution between the Atmos Cities Steering Committee ("ACSC" or "Steering Committee") and I "' Atmos Energy Corp., Mid-Tex Division ("Atmos Mid-Tex" or "Company") regarding the company's rate review mechanism filing in all cities exercising original jurisdiction; declare existing rates to be unreasonable; requiring the company to reimburse cities' reasonable rate-making expenses; adopt tariffs that reflect rate adjustments consistent with the negotiated settlement and finding the rates to be set by the attached tariffs to be just and reasonable; approve Atmos' proof of revenues; adopt a savings clause; determine that this ordinance was passed in accordance with the requirements of the Texas Open Meetings Act; declare an effective date; and require delivery of this ordinance to the company and the steering committee's legal counsel. 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: AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SOUTHLAKE, TEXAS, ("CITY") APPROVING A NEGOTIATED RESOLUTION BETWEEN THE ATMOS CITIES STEERING COMMITTEE ("ACSC" OR "STEERING COMMITTEE") AND ATMOS ENERGY CORP., MID-TEX DIVISION ("ATMOS MID-TEX" OR "COMPANY") REGARDING THE COMPANY'S RATE REVIEW MECHANISM FILING IN ALL CITIES EXERCISING ORIGINAL JURISDICTION; DECLARING EXISTING RATES TO BE UNREASONABLE; REQUIRING THE COMPANY TO REIMBURSE CITIES' Eft., REASONABLE RATEMAKING EXPENSES; ADOPTING TARIFFS THAT REFLECT RATE ADJUSTMENTS CONSISTENT WITH THE NEGOTIATED SETTLEMENT AND FINDING THE RATES TO BE SET BY THE ATTACHED TARIFFS TO BE JUST AND REASONABLE; APPROVING ATMOS' PROOF OF REVENUES; ADOPTING A SAVINGS CLAUSE; DETERMINING THAT THIS ORDINANCE WAS PASSED IN ACCORDANCE WITH THE REQUIREMENTS OF THE TEXAS OPEN MEETINGS ACT; DECLARING AN EFFECTIVE DATE; AND REQUIRING DELIVERY OF THIS ORDINANCE TO THE COMPANY AND THE STEERING COMMITTEE'S LEGAL COUNSEL. No one spoke during the public hearing. Motion was made to approve Ordinance No. 959, 2nd Reading, Approve a negotiated resolution between the Atmos Cities Steering Committee ("ACSC" or "Steering Committee") and Atmos Energy Corp., Mid-Tex Division ("Atmos Mid-Tex" or "Company") regarding the company's rate review mechanism filing in all cities exercising original jurisdiction; declare existing rates to be unreasonable; requiring the company to reimburse cities' reasonable rate-making expenses; adopt tariffs that reflect rate adjustments consistent with the negotiated settlement and finding the rates to be set by the attached tariffs to be just and reasonable; approve Atmos' proof of revenues; adopt a savings clause; determine that this ordinance was passed in accordance with the requirements of the Texas Open Meetings Act; declare an effective date; and L4a- REGULAR CITY COUNCIL MEETING MINUTES, AUGUST 4, 2009 Page 6 of 8 E . of this ordinance to the company and the steeringcommittee's legal require delivery p y 9 counsel. L41- Motion: Hill Second: Muzyka Ayes: Bledsoe, Hill, Jones, Morris, Muller, Muzyka, Terrell Nays: None Approved: 7-0 Agenda Item No. 6B. Resolution No. 09-046 (ZA09-024) Specific Use Permit for a Solar Energy System for the Martin Residence on property being legally described as Lot 2, Block 5, Chapel Downs Addition and being located at 104 East Chapel Downs Drive. Current Zoning: SF-30 Single-Family Residential District. SPIN Neighborhood #7. Planner Cortez presented this item to Council. Applicant Tony Martin, 104 East Chapel Downs Drive, 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; AS IT PERTAINS TO SOLAR ENERGY SYSTEMS; PROVIDING THAT THIS ORDINANCE SHALL BE CUMULATIVE OF ALL ORDINANCES; PROVIDING A SEVERABILITY CLAUSE; PROVIDING FOR A PENALTY FOR VIOLATIONS Ektar HEREOF; PROVIDING A SAVINGS CLAUSE; PROVIDING FOR PUBLICATION IN PAMPHLET FORM; PROVIDING FOR PUBLICATION IN THE OFFICIAL NEWSPAPER; AND PROVIDING AN EFFECTIVE DATE. No one spoke during the public hearing. Motion was made to approve Resolution No. 09-046 (ZA09-024) Specific Use Permit for a Solar Energy System for the Martin Residence subject to Review Summary No. 1, dated June 25, 2009. Motion: Hill Second: Muzyka Ayes: Bledsoe, Hill, Jones, Morris, Muller, Muzyka, Terrell Nays: None Approved: 7-0 Agenda Item 6C. Resolution No. 09-047 (ZA09-034), Site Plan for Southlake Town Square, Building GA-2 for Storefront Modification on property described as Lot 4R, Block 3R2R, Southlake Town Square Addition and being located at 252 Grand Avenue. Current Zoning: DT Downtown District. SPIN Neighborhood #8. Director Baker presented this item during the joint work session with the Planning and Zoning Commission earlier in the evening. I. 4aw REGULAR CITY COUNCIL MEETING MINUTES, AUGUST 4, 2009 Page 7 of 8 I . - i Charter, the caption for this item is listed as In accordance with Section 4.21 of the City follows: Ay' A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SOUTHLAKE, TEXAS, GRANTING A SITE PLAN APPROVAL REVISING THE STOREFRONT ELEVATIONS FOR A PORTION OF BUILDING GA-2, SOUTHLAKE TOWN SQUARE GRAND AVENUE DISTRICT, BEING WITHIN THE CITY OF SOUTHLAKE, TEXAS, LOCATED AT 252 GRAND AVENUE, BEING DESCRIBED AS LOT 4R, BLOCK 3R2R, SOUTHLAKE TOWN SQUARE ADDITION, AS DEPICTED ON THE APPROVED SITE PLAN ATTACHED HERETO AND INCORPORATED HEREIN AS EXHIBIT "A" AND PROVIDING AN EFFECTIVE DATE. No one spoke during the public hearing. Motion was made to approve Resolution No. 09-047 (ZA09-034), Site Plan for Southlake Town Square, Building GA-2, for Storefront Modification. Motion: Hill Second: Muzyka Ayes: Bledsoe, Hill, Jones, Morris, Muller, Muzyka, Terrell Nays: None Approved: 7-0 Agenda Item No. 11. Meeting adjourned. Mayor Terrell adjourned the meeting at 7:44 p.m. *An audio recording of this meeting will be permanently retained in the City Secretary's Office. C John Terrell Mayor �r ATTEST: 77!7 f77 j,I ®a � Lori Payne "/r-- °• City Secretary = �• �`�" •• •°• / .... 411, REGULAR CITY COUNCIL MEETING MINUTES, AUGUST 4, 2009 Page 8 of 8 E. Description SPDC at 4:00 p.m /TIRZ at 5:00 p.m. / City Council at 5:30 p.m. with a joint work I session with P&Z Commission Date 8/4/2009 Location Southlake Council Chambers C C C C C C C C C C C C C L 'av E SPDC at 4:00 p.m /TIRZ at 5:00 p.m. /City Council at 5:30 p.m. viSouthlake Council Chambers Time Speak Note 4:05:55 PM Carolyn called the SPDC meeting to order .av Morris 4:06:27 PM public 'no one spoke forum 4:06:49 PM Morris considered the minutes, item 6A 4:06:55 PM Sherry was not at meeting -did not make a motion for matching funds - someone Berman else did - please correct 4:07:41 PM Virginia motion to approve minutes with change noted Muzyka 4:07:43 PM Pamela second - approved 6A 4-0 Muller 4:08:46 PM Debora h Frazi er arrived 4:08:53 PM Director presented item 7A- matching funds request Chris Ec Tribble 4:10:52 PM Gregor y Jones arrived • 4:11:10 PM Berman motion to approve 7A to the Board 4:11:25 PM Frazier 'second - approved 6-0 4:12:01 PM Chris presented item 7B to the Board Tribble 4:21:09 PM Berman meeting with Love Henry neighbors 4:21:27 PM Morris clarified that it is for phase one only 4:23:34 PM Jones excellent work on staffs background work on this item 4:24:24 PM Muzyka motion to approve item 7b 4:24:38 PM Jones second - approved 7b 6-0 • 4:25:29 PM Berman asked about the financial forecast for the near future 4:27:10 PM Muzyka motion to adjourn 4-9 8/4/2009 2 of 5 E . SPDC at 4:00 p.m /TIRZ at 5:00 p.m. /City Council at 5:30 p.m. mSouthlake Council Chambers CTime Speak Note , 4:27:17 PM Jones second - no vote taken I 4w. 4:27:24 PM Morris adjourned meeting 5:32:21 PM Mayor called the regular meeting of the City Council and the joint meeting of the Council and P&Z C5:32:38 PM Mayor led the pledge of allegiance 5:34:47 PM Mayor introduced the agenda for the meeting C 5:35:27 PM Harry addressed the group regarding Ridgeview at Southlake Bowde n, 401 North E Carroll Avenue , Southl E ake i 5:37:20 PM Ken presented item 3A and 6C to Council and P&Z E *Baker 5:41:53 PM Applica answered questions of the group : , nt C Jason Kasal 5:42:51 PM Mayor concluded the joint work session and opened the regular session and called C for an executive session 5:46:31 PM 'Chairm "Conviened Meeting an IE Morin 5:46:50 PM Chairm Consider ZA09-034, Site Plan for Southlake Town Square, Building GA-2, an Storefront Modification for Metropark •IE Morin • 5:46:59 PM Chairm Called for applicant an IE Morin 5:47:10 PM Jason With Inland Mgmt, Answered questions from the commission concerning E Kasal signage and fit of store into SLTS. Looking to open in Mid November 2009. . . . • 5:51:35 PM Frank Cooper& Stebbins, answered questions from the commission concerning • Litz? the placement of this store into SLTS (storefront design). Commissioner E Lancor inquired about signage, Ken Baker, Director of PDS, stated SLtS special sign Ord. 5:55:54 PM Morin Opened PH C 5:56:01 PM Morin Closed PH 5:56:04 PM Morin Further Discussion 5:56:08 PM Morin Hudson, Motion; Lancor 2nd; Approved 6-0 5:56:49 PM Morin Adjourned Special P&Z Meeting • L4-- 8/4/2009 3 of 5 C E. SPDC at 4:00 p.m /TIRZ at 5:00 p.m. /City Council at 5:30 p.m. vSouthlake Council Chambers Time Speak Note 6:52:59 PM Mayor reconvened the meeting and asked if there is a motion out of executive ... session 6:53:05 PM Muzyka motion to direct staff to proceed with the termination of the Robinson Landscape and Construction contract as discussed in the executive session 6:53:34 PM Jones second - approved 7-0 6:54:08 PM Mayor reported on upcoming meetings and events and upcoming Citizens Academy; due to the early time frame of Council returning from executive session, the Mayor said the proclamation for Eric Wang will be taken up when he arrives in a few minutes 6:55:24 PM City gave a brief Financial Report to Council and announced the upcoming Manag kickoff meeting of the 2030 Plan on August 13 er Yelvert on 6:57:02 PM Parks Ken Goodman was not present but Chris Tribble said there were written Board notes in the Council packet Report 6:58:30 PM Mayor read the consent agenda items into the record and Council agreed to added items 8A, 8B, and 8C 6:59:57 PM Mayor allowed a resident to speak on item 8a 7:00:30 PM John spoke on the Dove Trail condemnations, sewage easement Koldus, 600 E. Nir Dove Road 7:09:18 PM Patricia asked the purpose of this trail Gilliand , 680 E. Dove Road 7:11:09 PM Morris asked where we are on the sewer system in this area 7:12:05 PM John quoted a letter from the former city manager regarding sewer service to this Koldus area 7:12:42 PM Gerry spoke regarding the sewer service in this area Gilliand , 680 E. Dove Road 7:14:41 PM Muzyka motion to approve consent agenda as read into the record including items 8a, 8b, and 8c 7:14:48 PM Hill 'second - approved consent agenda 7-0 8/4/2009 4 of 5 I C.. SPDC at 4:00 p.m /TIRZ at 5:00 p.m. /City Council at 5:30 p.m. vSouthlake Council Chambers Time Speak Note 7:16:03 PM Mayor presented proclamation to Eric Wang for his outstanding achievements and .s, volunteer service 7:18:58 PM Eric thanked everyone in the City for being good role models Wang 7:20:16 PM Council thanked Eric for his service 7:22:08 PM Mayor opened item 6a and 7:22:19 PM PH no one spoke opened 7:22:25 PM Hill motion to approve item 6a 7:22:40 PM Muzyka second - approved 6a 7-0 7:22:57 PM Daniel presented item 6b to Council Cortez 7:25:57 PM Council asked questions of staff 7:28:11 PM pApplica answered Council's questions nt Tony Martin, 104 E. Chapel Downs Drive 7:36:09 PM 'PH 'no one spoke opened 7:36:28 PM Hill 'motion to approve item 6b subject to review#1 7:36:58 PM *Muzyka second - approved 7-0 7:37:23 PM Ken was available for questions since he previously made a presentation Baker 7:38:11 PM 'Applica'answered Council's questions nt Jason Kasal 7:42:30 PM PH no one spoke opened 7:43:27 PM ,Hill motion to approve item 6c 7:43:45 PM Muzyka second - approved 7-0 7:44:04 PM *Mayor 'adjourned meetng Y 1 8/4/2009 5 of 5 L outhlake City Council meeting Public Comment Form Please print. Return completed form to City Secretary prior to start of regular session. Name: //At A 13eR 00 Date: y Q Address: *J©/ C,W,4,1/ Phone: 7$ v 7913 flI wish to share my views on an Agenda Item: Agenda Item# I will speak in SUPPORT of this item I will speak in OPPOSITION to this item I do not wish to speak, but please record my SUPPORT OPPOSITION LVI I wish to speak during Public Forum on an item not on tonight's agenda Topic: Note: To allow everyone an opportunity to be heard,please limit your comments to 3 minutes. bum.- iimme %moll lona Iowa lama -.ea ummir mik Southlake CityCouncil meeting g Public Comment Form Please print. Return completed form to City Secretary prior to start of regular session. Name: J Date: Address: O d _ t ?) IT Phone: j i 7 70`( 7 6 8.r EiI wish to share my views on an Agenda Item: 7)sov Agenda Item# /A- g p 4 ( l_ I will speak in SUPPORT of this item I will speak in OPPOSITION to this item I do not wish to speak, but please record my SUPPORT OPPOSITION i wish to speak during Public Forum on an item not on tonight's agenda Topic: Note: To allow everyone an opportunity to be heard,please limit your comments to 3 minutes. 6000 WESTERN PLACE,SUITE 200 Taylor Olsol Adkins TELEPHONE:(817)332-2580 I-30 AT BRYANT-IRVIN ROAD LI,p. TOLL FREE:(800)318-3400 FORT WORTH,TEXAS 76107-4654 FACSIMILE:(817)332-4740 EMAIL:TOASE@TOASE.COM Attorneys 1 Counselors WEBSITE:WWW.TOASE.COM TIM G.SRALLA Certified Civil Appellate Law Specialist extension 228 Texas Board of Legal Specialization tsralla@toase.com August 4, 2009 CONFIDENTIAL ATTORNEY/CLIENT PRIVILEGE VIA HAND DELIVERY Mayor and City Councilmembers City of Southlake 1400 Main Street Southlake, Texas 76092 Re: Legality of Executive Session Posting 1E- Dear Mayor and Councilmembers: Et 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 Nor posted for the requisite time: 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 city attorney a. Seek advice of the city attorney regarding Robinson contract. b. Seek advice of the city attorney regarding condemnation action for Dove Trail project. 2. Section 551.072: Deliberation regarding real proeprty a. Discuss the potential purchase or lease of real property for city facilities. 3. Section 551.087: Deliberation regarding economic development negotiations a. Economic incentives for businesses. C C August 4, 2009 Page 2 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 realproperty. The Council mayconduct g g City 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 Et 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. Th e 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(0: 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 C August 4, 2009 Page 3 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. 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. If you have any additional questions or concerns,please feel free to contact our office. Sincerely, Tim G. Sralla TGS/as cc: Ms. Shang Yelverton City of Southlake 1400 Main Street Suite 460 Southlake, Texas 76092 Ms. Lori Payne City of Southlake 1400 Main Street Suite 270 Southlake, Texas 76092 C C C C I I I (0 I ''''" 400 Ti 0 17 I 0o) 0... I 0 0 ily 0 1CC1 tZ aCIL ,),,,,, dr ., I 0 awn 0 09 C:11 0 Cie 0 it 0 C I 0 RIiC = 0 = ism. "1 a ... 1 41C ILL IMOM lillIP I I _ �t I .� iL II 1I ! 3 k ° D> e 8 t- E ;4 O ~ Q U o I �' al . N CITY OF • SOUTHLAKE , S. TEXAS , Finance Department's Isr 1 1111 Quarterly ,1 ,1 For the period ended June 30, 2009 11 i 1 1 1 1 r i City of Southlake July 2009 , 4 ' 1 , t a 1 li..,_ Integrity-♦ Innovation • Accountability ♦ Commitment to Excellence ♦ Teamwork li i I To: Shana Yelverton, City Manager Jim Blagg, Assistant City Manager From: Sharen Jackson, Finance Director Re: Third Quarter FY 2009 Financial Report Date: July 30, 2009 The finance department is pleased to submit a fmancial report for the third quarter of FY 2009 for the period ended June 30, 2009. 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. GENERAL FUND REVENUES Property tax. In the General Fund, $15,627,132 of $15,688,588 or 99.6% 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. Sales tax. Sales tax budgeted for Fiscal Year 2009 is $7,848,000 after administrative adjustment. For FY 2009 third quarter (October through May) the City has collected $5,363,273 in sales tax. This is 68.3% of the revised budgeted amount. City staff will continue to monitor the economic environment make any necessary budget amendments during the budget process this summer. Franchise fees. Franchise fees include amounts received for use of public rights of way from utility companies. To date the City has received $2,129,485 of $2,699,848 budgeted. FY 2009 collections are comparable to prior year's collections. Tri-County pays their second semi-annual payment in July therefore revenues are anticipated to meet budget. Fines/Forfeitures. Revenues from Fines and Forfeitures are $692,917, which is 69.3%of the $1,000,000 budgeted. This revenue source depends on many variables, such as the number of citations issued, warrants issued and collected, plus the number of cases C p II assigned to deferred adjudication. Citation volume is higher for third quarter FY 2009 f� compared to third 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 �I for participation in the Teen Court program. Revenues to date total $726,549, compared with $715,305 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 anticipated that revenue from Charges for Services will be within budgeted amounts. Permits/fees. Revenues from permits and fees are $1,031,724 or 79.8% of the budgeted 1 amount of $1,292,750. This is less than $1,264,213 collected as of June 30, 2008. 55 residential permits have been issued to date compared to 115 issued in the prior fiscal year. The largest decrease in permits/fees revenue is due to the reduced number of permits and decreased value in commercial permits issued during the third quarter FY 2009. 11 and 7 commercial permits were issued for the third quarter June 30, 2009 and June 30, 2008, respectively. Miscellaneous. This category includes amounts from tower leases, the 10% 1 administrative fee retained from Municipal Court State taxes remitted quarterly to the Comptroller, and library fees/fines. The City has received $420,575 to date. Revenues from miscellaneous income will meet the $863,283 budgeted. Interest income. Interest earnings to date total $166,485. It is anticipated that interest income will be below budgeted amounts due to the declining economy, staff will continue to monitor revenues and make the necessary budget amendments this summer during the budget process. GENERAL FUND EXPENDITURES For the third quarter ended June 30, 2009 of the fiscal year, General Fund total expenditures are $20,824,168 or 68.1% of the $30,589,793 budget after administrative Fj adjustments at mid-year. A brief discussion of each department will follow, providing a !j summary explanation of major expenditures trends. General government department. Department expenditures for the City Secretary's Office, Human Resources, City Manager's Office and Support Services/Information Technology total $3,647,964 which is 62.3% of budget. Personnel and legal services expenditures are on target with budget. Therefore it is anticipated that expenditures in General Government will be within the amount budgeted. Finance department. For the Finance, Municipal Court, Teen Court Divisions, total expenditures to date are $1,299,740 or 68.0% of the $1,911,963 budgeted. Personnel and operations expenditures are within budget. I � I � Public safety department. Total expenditures for Police Services, Fire Services, and Public Safety Support, are $8,976,910, which is 74.1% of the $12,115,052 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 $1,995,904 or 71.5% of the $2,793,234 budgeted. Personnel, operations and capital expenditures are within budget. Planning and development department. Total expenditures for Planning and building inspections are $1,373,891 or 68.9% of the $1,994,128 budgeted for the year. Expenditures in the Department are within budgeted. Economic development department. The department has expended $234,722, or 71.7% of the $327,455 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 $3,295,037 or 58.9% of the $5,591,868 budgeted. Personnel expenditures are on target with budget. Expenditures in the Department are expected to be within budget projections. WATER AND SEWER ENTERPRISE FUND Revenues. As of June 30, 2009, the City has received $12,596,204 or 63.1% in revenues of the $19,948,000 estimated. This is slightly lower when compared to $12,926,223 received through June 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 $12,663,433 or 63.9% of the $19,823,956 budgeted for personnel, operations, capital, and debt services. Of the total expenses, $3,624,636 has been paid to the City of Fort Worth for treated water. STORM WATER 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 June 30, 2009, the City has received $931,190 or 76.6% in revenue of the $1,215,000 estimated. Expenses. The City has expended $290,701 or 27.3% of the $847,989 budgeted for personnel and operations. $167,511 was expended for drainage materials. C DEBT SERVICE FUND Revenues. The City has received $7,047,252 in current and delinquent property taxes through June 30, 2009. This fund pays the property tax supported debt requirements for the City. The first semi-annual payments were paid February 2009 totaling $6,764,245. SOUTHLAKE PARKS DEVELOPMENT CORPORATION(SPDC) i 1 Operating Fund. As of June 30, 2009, $2,968,700 in the V2 cent sales tax has been collected. SPDC sales tax receipts are 4.2% below estimates, or$130,037. City staff will 1 continue to monitor the economic environment make any necessary budget amendments during the budget process this summer. ^� CRIME CONTROL AND PREVENTION DISTRICT (CCPD) I' Operating Fund. As of June 30, 2009, $2,914,810 in the %2 cent sales tax has been collected. Sales tax receipts are 5.4% below estimates, or $168,600. City staff will 1! continue to monitor the economic environment make any necessary budget amendments during the budget process this summer. 1 III PARK DEDICATION FEE FUND Revenues. The City has collected $26,816 of the $60,000 budgeted for the year. This revenue 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. Staff will 'I continue to monitor revenues and make any necessary budget amendments this summer during the budget process. TAX INCREMENT FINANCIAL DISTRICT (TIF) I � 1 Revenues. To date TIF received $7,784,162 in revenues for the fiscal year. Historically, the TIF revenues are not collected until the third and fourth quarter of the fiscal year. STRATEGIC INITIATIVE FUND Expenditures. As of June 30, 2009,the expenditures were $1,090,557 for a fire engine to replace Engine 403, and software conversion. .... C l 4. HOTEL OCCUPANCY FUND Revenues. The City has collected $438,392 or 67.8% 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 June 30, 2009, the expenditures were $204,851 for marketing and promotion. Li E GENERAL FUND LStatement of Revenues,Expenditures and Changes in Fund Balance for the period ended June 30,2009 with comparative actual amounts for the period ended June 30,2008 L -, (fiscal month 9-75.00%) E, Percen' Year to Date 2009 Collecte• Year to Date REVENUES 6/30/2009 Budget(*) Ex I ended 6/30/08 Ad Valorem Taxes $15,627,132 $15,688,588 99.6%/ $14,593,384 E. Sales Tax 5,363,273 7,848,000 68.3% 5,817,656 Franchise Fees 2,129,485 2,699,848 78.9% 1,978,029 Fines 692,917 1,000,000 69.3% 622,670 L Charges for Services 726,549 912,686 79.6% 715,305 Permits/Fees 1,031,724 1,292,750 79.8°/ 1,264,213 Miscellaneous 420,575 863,283 48.7% 585,612 Interest Income 166,485 450,000 37.0% 299,418 L Total Revenues $26,158,140 $30,755,155 85.1% $25,876,287 EXPENDITURES City Secretary $259,733 $390,021 66.6% $233,332 L Human Resources 378,454 538,678 70.3% 289,741 City Manager 412,292 551,413 74.8°/ 390,297 Support Services/Information Technology 2,597,485 4,375,981 59.4% 2,376,796 General Government Total 3,647,964 5,856,093 62.3% 3,290,166 L Finance 761,457 1,128,671 67.5% 704,560 Municipal Court 452,807 657,163 68.9°/ 410,061 Municipal Court-Teen Court 85,476 126,129 67.8°/ 83,949 Finance Total 1,299,740 1,911,963 68.0% 1,198,570 Fire 3,521,887 5,081,853 69.3% 3,114,823 �, Police 3,827,870 5,243,294 73.0% 3,649,441 L Public Safety Support 1,627,153 1,789,905 90.9% 969,564 Public Safety Total 8,976,910 12.115.052 74.1% 7,733,828 Streets/Drainage 1,204,048 1,670,233 72.1% 1,295,344 Public Works Administration 791,856 1,123,001 70.5% 741,584 r Public Works Total 1,995,904 2,793,234 71.5% 2,036,928 Building Inspections 662,662 981,819 67.5°/ 599,363 Planning 711,229 1,012,309 70.3% 611.745 I Planning and Dev Total 1,373,891 1,994,128 68.9 1,211,108 Economic Development 234,722 327,455 71.7% 208,958 Economic Development Total 234,722 327,455 71.7% 208,958 Community Services 232,897 537,703 43.3°/ 261,332 L Parks and Recreation 2,591,258 4,418,911 58.6% 2,754,255 Library Services 470,882 635,254 74.1% 398,481 Community Services Total 3,295,037 5,591,868 58.9% 3,414,068 I Total Expenditures $20,824,168 $30,589,793 68.1% $19.093,626 Excess(deficiency)of Revenue over Expenditures $5,333,972 $165,362 $6,782,661 OTHER FINANCING I SOURCES AND(USES) Proceeds from lease/CO(net) $0 $0 $0 Transfer In-Other Funds 0 424,465 0 L Transfer To-Other Funds 0 0 0 Total Other Sources/(Uses) $0 $424,465 $0 Excess(deficiency)of Revenues/other sources over Exp. $5,333,972 $589,827 $6,782,661 i„.,, FUND BALANCE OCT 1 $7,347,683 Change in reserved fund balance $0 ENDING FUND BALANCE $7,937,510 L fund balance percentage 25.95% (*)includes administrative budget adjustments so C. L WATER AND SEWER ENTERPRISE FUND Comparative Statement of Revenues and Expenses for the period ended June 30,2009 and June 30,2008 (fiscal month 9-75.00%) L - Percen L Year to Date 2009 Collectes Year to Date REVENUES 6/30/09 Budget Expended 6/30/08 Water Sales-residential $6,210,746 $10,600,000 58.6% $6,737,974 Water Sales-commercial 1,961,288 3,400,000 57.7% 1,630,938 Sewer Sales 3,332,359 4,100,000 81.3% 3,255,410 Sanitation Sales 861,414 1,100,000 78.3°/ 788,944 L Other utility charges 52,000 342,000 15.2% 234,457 Miscellaneous 33,710 106,000 31.8% 93,515 Interest Income 144,687 300,000 48.2°/ 184,985 LTotal Revenues $12,596,204 $19,948,000 63.1% $12,926,223 EXPENSES Water $5,491,801 $10,494,144 52.3% $4,697,160 L Utility Billing 248,035 429,981 57.7% 553,627 Sewer 1,590,583 2,062,331 77.1% 1,632,163 Sanitation 438,139 862,970 50.8% 402,648 L Debt Service 4,894,875 5,974,530 81.9% 4,386,789 Total Expenses $12,663,433 $19,823,956 63.9% $11,672,387 Excess(deficiency)of iliiiyRevenue over Expenses ($67,229) $124,044 $1,253,836 OTHER FINANCING SOURCES AND(USES) Transfer In-Other Funds $0 $0 Developer Contributions $50,000 $50,000 $0 Transfer Out-Other Funds 0 (388,038) 0 ITotal Other Sources/(Uses) $50,000 ($338,038) $0 Excess(deficiency)of L Revenues and other sources over Expenses ($17,229) ($213,994) $1,253,836 CI CI I CI t I f CITY OF SOUTHLAKE 1% SALES TAX REPORT 2009 Collected Budget Balance Budget to Date Balance Percent $ 8,755,000 $6,027,362 ($2,727,638) -31.16% FISCAL FISCAL FISCAL YEAR %Inc YEAR %Inc YEAR %Inc MONTH 2007 -Dec 2008 -Dec 2009 -Dec 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% 1,060,018 -9.7% January 559,469 11.9% 760,276 35.9% 591,513 -22.2% February 611,242 28.1% 619,828 1.4% 638,087 2.9% March 804,752 9.7% 856,010 6.4% 799,515 -6.6% April 664,768 7.3% 749,508 12.7% 760,920 1.5% May 744,258 17.6% 787,336 5.8% 616,261 -21.7% June 828,321 -7.9% 917,099 10.7% 0 -100.0% July 715,342 40.3% 751,045 5.0% 0 -100.0% 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 $6,027,362 U Three Year Revenue Comparison by Month 1,200,000 i 16 - 1,000,000 800,000 . - - 600,000 ( �- Ii F - I I I I 200,000 L I, 0 II II II II II 1111 O& boa O°G ,a0 �e'P 4a` '2" �e� ,Jc ,J\ \>• 0e� 0 FISCAL YEAR 2007 •FISCAL YEAR 2008 E FISCAL YEAR 2009 Actual Budget Actual Estimated I(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 $1,060,018 $ 1,060,018 $ (8,059) -0.75% January(*) $760,276 $691,528 $591,513 $ 591,513 $ (100,015) -14.46% February(*) $619,828 $563,780 $638,087 $ 638,087 $ 74,307 13.18% March(*) $856,010 $778,605 $799,515 $ 799,515 $ 20,910 2.69% April(*) $749,508 $681,734 $760,920 $ 760,920 $ 79,186 11.62% May(*) $787,336 $716,141 $616,261 $ 616,261 $ (99,880) -13.95% 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% TOTAL $ 9,625,378 $ 8,755,000 $ 6,027,362 $ 8,928,217 $ 173,217 *Beginning April 2006 includes Grand Avenue sales tax collections per 380 agreement 80%of collections will be distributed to Cooper&Stebbins SOUTHLAKE PARKS DEVELOPMENT CORPORATION 1/2% SALES TAX REPORT 2009 Collected Budget Balance Budget to Date Balance Percent $ 4,634,228 $2,968,700 ($1,665,528) -35.94% 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% November 305,131 19.0% 395,220 29.5% $380,121 -3.8% December 544,759 34.4% 578,367 6.2% $522,099 -9.7% January 275,560 11.8% 374,464 35.9% $291,342 -22.2% February 301,059 28.1% 305,289 1.4% $314,282 2.9% L. March 396,371 9.7% 421,617 6.4% $393,791 6.6% April 327,423 7.3% 369,161 12.7% $374,781 1.5% May 366,575 17.6% 387,792 5.8% $303,531 -21.7% I June July 407,979 -7.9% 451,705 10.7% $0 -100.0% 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% $0 -100.0% TOTAL $4,339,989 $4,740,858 $2,968,700 Three Year Revenue Comparison Ill by Month $600,000 - $500,000 I $400,000 $300,000 ,' $200,000illttlittil 11 I I $100,000 -'' 4 0 C 0 9 00 0 0 0 0 0 000 •000 00 o �o o �o I & ' g c� o ac Q� �� eo �oDe LmP �. \Z" 0 FISCAL YEAR 2007 ■FISCAL YEAR 2008 ■FISCAL YEAR 2009 I Actual Budget Actual Estimated I(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 $522,099 $ 522,099 $ (43,260) -7.44% January $374,464 $366,042 $291,342 $ 291,342 $ (74,700) -25.39% T February $305,289 $298,422 $314,282 $ 314,282 $ 15,860 4.93% March $421,617 $412,134 $393,791 $ 393,791 $ (18,343) -4.33% April $369,161 $360,858 $374,781 $ 374,781 $ 13,924 3.98% May $387,792 $379,070 $303,531 $ 303,531 $ (75,539) -19.30% 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 $0 $ 415,842 $ - 0.00% TOTALS $ 4,740,858 $ 4,634,228 $ 2,968,700 $ 4,504,191 $ (130,037) - -4% lw SOUTHLAKE CRIME CONTROL AND PREVENTION DISTRICT 1/2% SALES TAX REPORT 2009 Collected Budget Balance Budget to Date Balance Percent $ 4,601,783 $2,914,810 (1,686,973) -36.66% 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% 524,522 -2.22% January 290,761 18.11% 362,682 24.74% 291,077 -19.74% February 301,199 27.64% 299,335 -0.62% 301,800 0.82% March 382,088 13.60% 382,776 0.18% 369,206 -3.55% April 311,411 2.68% 363,054 16.58% 369,637 1.81% May 359,218 14.26% 388,216 8.07% 302,309 -22.13% 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% September 374,527 10.05% 395,781 5.67% - -100.00% 111 TOTAL $4,222,177 $4,541281 $2,914,810 r- ' Three Year Revenue Comparison by Month 111111) $600,000 $500,000 $400,000 - _ - - - I $300,000 [ 1111111 $100,000 $0 I I IL_ IIi_ _ o� oD o� 0 0 op 0 0 0 o0i of 0 06, �o, eC ,Qc (< ��` PQc 46\ 1 ,J P�� coeQ ®Fiscal Year 2007 Actual ❑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% November $ 376,231 $ 381,243 $ 404,136 $ 404,136 $ 22,893 6.00% December $ 536,434 $ 543,581 $ 524,522 $ 524,522 $ (19,059) -3.51% January $ 362,682 $ 367,514 $ 291,077 $ 291,077 $ (76,437) -20.80% February $ 299,335 $ 303,323 $ 301,800 $ 301,800 $ (1,523) -0.50% March $ 382,776 $ 387,876 $ 369,206 $ 369,206 $ (18,670) -4.81% April $ 363,054 $ 367,891 $ 369,637 $ 369,637 $ 1,746 0.47% May $ 388,216 $ 393,388 $ 302,309 $ 302,309 $ (91,079) -23.15% June $ 421,448 $ 427,063 $ - $ 427,063 $ - 0.00% 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 $ 2,914,810 $ 4,433,183 $ (168,600) r--' r u9 r--* 1--* r--• r ' am I - r - r r - r r - r ' r r ' II— CITY OF SOUTH LAKE Investment Portfolio Summary For the Quarter Ended June 30, 2009 Prepared By rf First Southwest Asset Management City of Southlake Quarterly Investment Report Investment Officers' Certification For the Quarter Ended June 30,2009 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. SktCOIDI )41)17373 C)41-4-6.44-4 1 First Southwest Asset Management Page 2 of 13 roll (Ns =I 1 WO \ we MI NM MINI EMI MINI Mir 141 II= MIMI t City of Southlake FIXED INCOME DISTRIBUTION June 30,2009 Summary Information Totals Weighted Averages Par Value 131,843,145.11 Average YTM 1.544 Market Value 132,538,053.36 Average Maturity (yrs) 0.6 Adjusted Cost 132,102,864.38 Average Coupon(%) 1.652 Net Gain/Loss 435,188.98 Average Duration 0.6 Annual Income 2,164,346.99 Number of Issues 28 Distribution by Maturity %Bond Average Average Average Maturity Number Mkt Value Holdings Y T M Coupon Duration 0-3 Months 10 65,437,016.36 49.4 1.239 1.310% 0.058 3-6 Months 4 18,091,200.00 13.6 2.289 1.538% 0.368 6-9 Months 2 6,049,375.00 4.6 1.067 1.757% 0.647 9-12 Months 4 12,514,062.50 9.4 1.269 1.226% 0.848 l-2 Years 6 22,360,079.50 16.9 1.772 2.412% 1.362 2-3 Years 2 8,086,320.00 6.1 2.633 3.145% 2.376 First Southwest Asset Management Page 3 of 13 i i I I I I I I I (' I i I I I I 1 l rue we City of Southlake Portfolio Composition June 30, 2009 Portfolio Composition by Security Type Portfolio Composition by Issuer ■FFCB 8.3% ®Pools& 0 FHLB ❑TexStar Money 18.2% 19.5% Markets 31.6% ❑ Agency NI FHLMC ®TexPool Securities 11.5% 12.0% 60.1% III CD's 6.0% ill 11 ■CD's 6.0% III Government ❑FNMA Securities 22 1% ❑US Treasury 2.3% 2.3% Portfolio Composition by Maturity (Percentage) Portfolio Composition by Maturity (Amount) El 0-3 Months 49.4% $80 , $60 a `o $40loppiplI, - ❑3-6 Months 13.6% $20 — ®2-3 Years 6.1% n ~ ■6-9 Months $- 4.6% 0-3 Months 3-6 Months 6-9 Months 9-12 1 - 2 2 - 3 Over 3 ■1-2 Years, 09-12 Months Months Years Years Years 16.9% 9.4% First Southwest Asset Management Page 4 of 13 I IFw w- .. 110041 IMI■ v., r r r"91 r r... r—, r", rs, trig role milt, um mu City of Southlake Benchmark Comparison June 30, 2009 6.000% —4 Southlake Portfolio Month-End Wtd Avg Yld t TexPool Monthly Average 5.000% - —I —Ar—3-Mo CMT(3-Month Moving Avg) 4.000% - —* 6-Mo CMT(6-Month Moving Avg) —*-1-Yr CMT(12-Month Moving Avg) 3.000% :11:'-'111111141411111111111M11101111111111.- 2.000% - 1.000% Lop ! 0.000% I 1 i i i I I I I 1.— I I I I I I I CO CO CO CO CO CO CO CO CO CO CO CO CM 0) a) a) 0) a) 0 o q o 9 9 0 0 0 0 0 0 0 0 9 o 9 o ti 2 4 - 2 - Q u) z a i co i Q g --) Notes: 1.) Benchmark data for TexPool is the monthly average yield. 2.)CMT stands for Constant Maturity Treasury. This data is published in Federal Reserve Statistical Release H.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. First Southwest Asset Management Page 5 of 13 i ..... .r, IMO IIIIIII MINI MIN 11", 1'1 r", CI WM NMI MI MIN Mil Mill IP=.„k, MO MIN 1111 City of Southlake DETAIL OF SECURITY HOLDINGS As of June 30,2009 Security Security Settlement Maturity Next Call Purchase Purchase Market Market Accrued Days to Days to Yield to Yield to Description CUSIP Coupon Date Date Date Par Value Price Cost Book Value Price Value Interest Maturity Next Call Maturity Next Call General Operating TexSTAR texstar 0.369 23,423,477.84 100.000 23,423,477.84 23,423,477.84 100.000 23,423,477.84 0.00 1 0.369 TexPool texpool 0.394 7,167,638.95 100.000 7,167,638.95 7,167,638.95 100.000 7,167,638.95 0.00 1 0.394 FFCB 31331YZ37 3.125 07-01-08 07-01-09 3,000,000.00 100.113 3,003,390.00 3,000,000.00 100.000 3,000,000.00 46,875.00 1 3.009 FHLB 3133XFYK6 5.375 05-29-08 07-17-09 1,500,000.00 102.935 1,544,025.00 1,501,703.26 100.219 1,503,281.25 36,729.17 17 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 3,005,601.50 100.375 3,011,250.00 57,876.38 31 2.314 FHLB Disc Note 313385KZ8 0.000 09-08-08 08-28-09 2,500,000.00 97.197 2,429,937.50 2,488,520.83 99.980 2,499,500.00 0.00 59 2.973 FHLB Disc Note 313385LG9 0.000 09-08-08 09-04-09 2,500,000.00 97.142 2,428,552.08 2,487,135.42 99.970 2,499,250.00 0.00 66 2.975 FHLMC 3128X3WY5 4.000 11-05-08 09-22-09 5,000,000.00 101.192 5,059,580.00 5,015,405.42 100.824 5,041,215.00 55,000.00 84 2.620 FFCB 31331GCE7 2.700 10-10-08 09-23-09 3,000,000.00 100.449 3,013,467.00 3,003,250.66 100.562 3,016,875.00 22,050.00 85 2.221 FHLB 3133XSDPO 3.375 09-29-08 09-29-09 3,000,000.00 99.977 2,999,310.00 2,999,829.86 100.750 3,022,500.00 25,875.00 91 3.399 FNMA Disc Note 313589MR1 0.000 10-17-08 10-07-09 3,000,000.00 96.844 2,905,333.33 2,973,866.67 99.950 2,998,500.00 0.00 99 3.350 PlainsCapital Bank CD 6000103 1.400 06-02-09 11-02-09 3,000,000.00 100.000 3,000,000.00 3,000,000.00 100.000 3,000,000.00 3,336.99 125 1.400 FNMA Disc Note 313589NX7 0.000 11-18-08 11-06-09 6,000,000.00 97.941 5,876,450.00 5,955,200.00 99.920 5,995,200.00 0.00 129 2.174 FNMA 31398AJX1 3.875 11-10-08 12-10-09 6,000,000.00 101.705 6,102,300.00 6,042,019.54 101.625 6,097,500.00 13,562.50 163 2.271 FNMA 31398AKX9 3.250 02-04-09 02-10-10 2,000,000.00 102.197 2,043,940.00 2,026,524.51 101.719 2,034,375.00 25,458.33 225 1.071 FHLB 3133XSZ84 1.000 02-04-09 03-02-10 4,000,000.00 99.938 3,997,520.00 3,998,446.56 100.375 4,015,000.00 16,555.56 245 1.058 PlainsCapital Bank CD 6000102 1.500 06-02-09 04-01-10 5,000,000.00 100.000 5,000,000.00 5,000,000.00 100.000 5,000,000.00 5,958.90 275 1.500 FHLB 3I33XTJ23 0.875 04-21-09 04-15-10 1,500,000.00 99.990 1,499,850.00 1,499,879.67 100.312 1,504,687.50 2,552.08 289 0.885 FHLB 3133XT4S2 1.050 03-23-09 05-28-10 3,000,000.00 99.964 2,998,920.00 2,999,170.73 100.500 3,015,000.00 2,887.50 332 1.081 FHLB 3133XSYB8 1.120 02-20-09 06-30-10 3,000,000.00 99.817 2,994,510.00 2,995,955.73 99.812 2,994,375.00 93.33 365 1.256 FHLB 3133XTHRO 1.060 04-20-09 07-13-10 3,000,000.00 100.037 3,001,110.00 3,000,932.16 100.531 3,015,937.50 6,271.67 378 1.030 FNMA 31398ASU7 3.250 01-07-09 08-12-10 5,000,000.00 103.072 5,153,585.00 5,107,469.12 102.937 5,146,875.00 62,743.06 408 1.300 FHLMC 3128X4KF7 4.750 12-17-08 09-22-10 3,000,000.00 104.729 3,141,870.00 3,098,669.09 104.567 3,137,007.00 39,187.50 449 2.006 FHLMC 3128X8BX9 2.000 12-30-08 12-30-10 12-30-09 3,000,000.00 100.000 3,000,000.00 3,000,000.00 100.592 3,017,760.00 166.67 548 183 2.516 3.023 FFCB 31331GMU0 1.850 02-17-09 02-17-11 02-17-10 5,000,000.00 100.000 5,000,000.00 5,000,000.00 100.719 5,035,937.50 34,430.56 597 232 1.850 1.850 FNMA Step-up 3136FHPL3 1.250 05-20-09 05-20-11 05-20-10 3,000,000.00 100.000 3,000,000.00 3,000,000.00 100.219 3,006,562.50 4,270.83 689 324 2.115 1.872 FHLMC 3128X8CK6 2.125 12-22-08 12-22-11 12-22-09 4,000,000.00 100.000 4,000,000.00 4,000,000.00 100.283 4,011,320.00 2,125.00 905 175 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 4,060,138.55 101.875 4,075,000.00 77,466.67 927 197 3.116 1.312 1.766 120,591,116.79 100.327 120,971,917.95 120,850,836.06 100.583 121,286,025.04 541,472.69 231 1.652 Parks Development Corporation TexSTAR texstar 0.369 2,483,689.43 100.000 2,483,689.43 2,483,689.43 100.000 2,483,689.43 0.00 I 0.369 TexPool texpool 0.394 8,768,338.89 100.000 8,768,338.89 8,768,338.89 100.000 8,768,338.89 0.00 1 0.394 0.388 11,252,028.32 100.000 11,252,028.32 11,252,028.32 100.000 11,252,028.32 0.00 1 0.388 GRAND TOTAL 1.649 131,843,145.11 100.299 132,223,946.27 132,102,864.38 100.534 132,538,053.36 541,472.69 211 1.544 First Southwest Asset Management Page 6 of 13 um /""''\. !A A N No rim vs r' r` r, ` 1 NMI NMI City of Southlake CHANGE IN VALUE From 03-31-09 To 06-30-09 Security Maturity 03-31-09 03-31-09 Additions Withdrawals Interest Accrued 06-30-09 06-30-09 Description CUSIP Coupon Date Book Value Market Value Purchases Sales Received Interest Book Value Market Value General Operating TexPool texpool 0.394 7,026,156.90 7,026,156.90 141,482.05 0.00 7,675.54 0.00 7,167,638.95 7,167,638.95 TexSTAR texstar 0.369 5,850,852.51 5,850,852.51 25,565,431.18 -7,992,805.85 14,909.41 0.00 23,423,477.84 23,423,477.84 FHLMC 3128X7JW5 2.265 04-14-09 2,999,639.25 3,001,686.00 0.00 -3,033,975.00 0.00 0.00 0.00 0.00 FHLMC 3134A4UQ5 3.375 04-15-09 1,500,614.42 1,501,406.25 0.00 -1,525,312.50 0.00 0.00 0.00 0.00 U.S.T-Note 912828GP9 4.500 04-30-09 3,005,396.77 3,010,312.50 0.00 -3,067,500.00 0.00 0.00 0.00 0.00 FHLB 3133XRD98 2.375 05-27-09 2,999,401.64 3,008,437.50 0.00 -3,035,625.00 0.00 0.00 0.00 0.00 FHLB 3133XREU0 2.700 06-30-09 1,499,958.95 1,507,968.75 0.00 -1,543,875.00 0.00 0.00 0.00 0.00 FFCB 31331YZ37 3.125 07-01-09 3,000,845.18 3,020,625.00 0.00 0.00 0.00 46,875.00 3,000,000.00 3,000,000.00 FHLB 3133XFYK6 5.375 07-17-09 1,511,383.10 1,521,562.50 0.00 0.00 0.00 36,729.17 1,501,703.26 1,503,281.25 U.S.T-Note 912828GY0 4.625 07-31-09 3,022,592.71 3,043,125.00 0.00 0.00 0.00 57,876.38 3,005,601.50 3,011,250.00 FHLB Disc Note 313385KZ8 0.000 08-28-09 2,470,510.42 2,497,000.00 0.00 0.00 0.00 0.00 2,488,520.83 2,499,500.00 FHLB Disc Note 313385LG9 0.000 09-04-09 2,469,125.00 2,496,750.00 0.00 0.00 0.00 0.00 2,487,135.42 2,499,250.00 FHLMC 3128X3WY5 4.000 09-22-09 5,032,295.70 5,073,355.00 0.00 0.00 0.00 55,000.00 5,015,405.42 5,041,215.00 FFCB 31331GCE7 2.700 09-23-09 3,006,772.20 3,027,187.50 0.00 0.00 0.00 22,050.00 3,003,250.66 3,016,875.00 FHLB 3133XSDP0 3.375 09-29-09 2,999,657.84 3,036,562.50 0.00 0.00 0_00 25,875.00 2,999,829.86 3,022,500.00 FNMA Disc Note 313589MR1 0.000 10-07-09 2,949,600.00 2,994,600.00 0.00 0.00 0.00 0.00 2,973,866.67 2,998,500.00 PlainsCapital Bank CD 6000103 1.400 11-02-09 0.00 0.00 3,000,000.00 0.00 0.00 3,336.99 3,000,000.00 3,000,000.00 FNMA Disc Note 313589NX7 0.000 11-06-09 5,923,350.00 5,985,600.00 0.00 0.00 0.00 0.00 5,955,200.00 5,995,200.00 FNMA 31398AJX1 3.875 12-10-09 6,065,562.55 6,123,750.00 0.00 0.00 116,250.00 13,562.50 6,042,019.54 6,097,500.00 FNMA 31398AKX9 3.250 02-10-10 2,037,305.53 2,039,375.00 0.00 0.00 0.00 25,458.33 2,026,524.51 2,034,375.00 FHLB 3133XSZ84 1.000 03-02-10 3,997,872.98 4,001,250.00 0.00 0.00 0.00 16,555.56 3,998,446.56 4,015,000.00 PlainsCapital Bank CD 6000102 1.500 04-01-10 0.00 0.00 5,000,000.00 0.00 0.00 5,958.90 5,000,000.00 5,000,000.00 FHLB 3133XTJ23 0.875 04-15-10 0.00 0.00 1,499,850.00 0.00 0.00 2,552.08 1,499,879.67 1,504,687.50 FHLB 3133XT4S2 1.050 05-28-10 2,998,942.57 3,000,000.00 0.00 0.00 8,837.50 2,887.50 2,999,170.73 3,015,000.00 FHLB 3133XSYB8 1.120 06-30-10 2,994,951.44 3,010,312.50 0.00 0.00 14,093.33 93.33 2,995,955.73 2,994,375.00 FHLB 3133XTHR0 1.060 07-13-10 0.00 0.00 3,001,110.00 0.00 0.00 6,271.67 3,000,932.16 3,015,937.50 FNMA 31398ASU7 3.250 08-12-10 5,131,449.38 5,142,187.50 0.00 0.00 0.00 62,743.06 5,107,469.12 5,146,875.00 FHLMC 3128X4KF7 4.750 09-22-10 3,118,726.66 3,142,572.00 0.00 0.00 0.00 39,187.50 3,098,669.09 3,137,007.00 FHLMC 3128X8BX9 2.000 12-30-10 3,000,000.00 3,010,083.00 0.00 0.00 30,000.00 166.67 3,000,000.00 3,017,760.00 FFCB 31331GMU0 1.850 02-17-11 5,000,000.00 5,014,062.50 0.00 0.00 0.00 34,430.56 5,000,000.00 5,035,937.50 FNMA Step-up 3136FHPL3 1.250 05-20-11 0.00 0.00 3,000,000.00 0.00 0.00 4,270.83 3,000,000.00 3,006,562.50 FHLMC 3128X8CK6 2.125 12-22-11 4,000,000.00 3,998,924.00 0.00 0.00 42,500.00 2,125.00 4,000,000.00 4,011,320.00 FNMA 31398AST0 4.150 01-13-12 4,088,129.89 4,095,000.00 0.00 0.00 0.00 77,466.67 4,060,138.55 4,075,000.00 99,701,093.58 100,180,704.41 41,207,873.23 -20,199,093.35 234,265.78 541,472.69 120,850,836.06 121,286,025.04 Parks Development Corporation TexPool texpool 0.394 8,758,853.20 8,758,853.20 26,647.57 -17,161.88 9,485.69 0.00 8,768,338.89 8,768,338.89 TexSTAR texstar 0.369 2,480,978.80 2,480,978.80 2,710.63 0.00 2,710.63 0.00 2,483,689.43 2,483,689.43 11,239,832.00 11,239,832,00 29,358.20 -17,161.88 12,196.32 0.00 11,252,028.32 11,252,028.32 GRAND TOTAL 110,940,925.58 111,420,536.41 41,237,231.43 -20,216,255.23 246,462.10 541,472.69 132,102,864.38 132,538,053.36 First Southwest Asset Management Page 7 of 13 !w , we pm r`'' r /"" r"! WO f 1 rm. ran am mu A !m rim we um City of Southlake General Operating INVESTMENT TRANSACTIONS From 04-01-09 To 06-30-09 Settle Mature Call Unit Date Security CUSIP Coupon Date Date Quantity Price Amount PURCHASES 04-20-09 FHLB 3133XTHR0 1.060 07-13-10 3,000,000 100.037 3,001,110.00 04-21-09 FHLB 3133XTJ23 0.875 04-15-10 1,500,000 99.990 1,499,850.00 05-20-09 FNMA Step-up 3136FHPL3 1.250 05-20-1 l 05-20-10 3,000,000.00 100.000 3,000,000.00 06-02-09 PlainsCapital Bank CD 6000103 1.400 11-02-09 3,000,000 100.000 3,000,000.00 06-02-09 PlainsCapital Bank CD 6000102 1.500 04-01-10 5,000,000 100.000 5,000,000.00 15,500,960.00 MATURITIES 04-14-09 FHLMC 3128X7JW5 2.265 04-14-09 3,000,000 100.000 3,000,000.00 Accrued Interest 33,975.00 04-15-09 FHLMC 3134A4UQ5 3.375 04-15-09 1,500,000 100.000 1,500,000.00 Accrued Interest 25,312.50 04-30-09 U.S.T-Note 912828GP9 4.500 04-30-09 3,000,000 100.000 3,000,000.00 Accrued Interest 67,500.00 05-27-09 FHLB 3133XRD98 2.375 05-27-09 3,000,000 100.000 3,000,000.00 Accrued Interest 35,625.00 06-30-09 FHLB 3133XREU0 2.700 06-30-09 1,500,000 100.000 1,500,000.00 Accrued Interest 43,875.00 12,206,287.50 L'IFirst Southwest Asset Management Page 8 of 13 I - 1111r) - M I I 1 NE - NM - NM - r - r NM N CI 11, City of Southlake EARNED INCOME From 03-31-09 To 06-30-09 Beginning Ending Adjusted Accrued Purchased Sold Interest Earned Accrued Amortization/ Earned Interest Interest Interest Received Interest Interest Accretion Income General Operating TexSTAR (texstar) 0.00 0.00 0,00 14,909.41 14,909.41 0.00 0.00 14,909.41 TexPool (texpool) 0.00 0.00 0.00 7,675.54 7,675.54 0.00 0.00 7,675.54 FHLMC 2.265%Due 04-14-09(3128x7jw5) 31,521.25 0.00 33,975.00 0.00 2,453.75 0.00 360.75 2,814.50 FHLMC 3.375%Due 04-15-09(3134a4uq5) 23,343.75 0.00 25,312.50 0.00 1,968.75 0.00 -614.42 1,354.33 U.S.T-Note 4.500%Due 04-30-09(912828gp9) 56,685.08 0.00 67,500.00 0.00 10,814.92 0.00 -5,396.77 5,418.15 FHLB 2.375%Due 05-27-09(3133xrd98) 24,541.67 0.00 35,625.00 0.00 11,083.33 0.00 598.36 11,681.69 FHLB 2.700%Due 06-30-09(3133xreu0) 33,862.50 0.00 43,875,00 0.00 10,012.50 0.00 41.05 10,053.55 FFCB 3.125%Due 07-01-09(31331yz37) 23,437.50 0.00 0.00 0.00 23,437.50 46,875.00 -845.18 22,592.32 FHLB 5.375%Due 07-17-09(3133xfyk6) 16,572.92 0.00 0.00 0.00 20,156.25 36,729.17 -9,679.85 10,476.40 U.S.T-Note 4.625%Due 07-31-09(912828gy0) 22,997.24 0.00 0.00 0.00 34,879.14 57,876.38 -16,991.21 17,887.94 FHLB Disc Note 0.000%Due 08-28-09(313385kz8) 0.00 0.00 0.00 0.00 0.00 0.00 18,010.42 18,010.42 FHLB Disc Note 0.000%Due 09-04-09(313385Ig9) 0.00 0.00 0.00 0.00 0.00 0.00 18,010.42 18,010.42 FHLMC 4.000%Due 09-22-09(3128x3wy5) 5,000.00 0.00 0.00 0.00 50,000.00 55,000.00 -16,890.28 33,109.72 FFCB 2.700%Due 09-23-09(31331gce7) 1,800.00 0.00 0.00 0.00 20,250.00 22,050.00 -3,521.54 16,728.46 FHLB 3.375%Due 09-29-09(3133xsdp0) 562.50 0.00 0.00 0.00 25,312.50 25,875.00 172.03 25,484.53 FNMA Disc Note 0.000%Due 10-07-09(313589mr1) 0.00 0.00 0.00 0.00 0.00 0.00 24,266.67 24,266.67 PlainsCapital Bank CD 1.400%Due 11-02-09(6000103) 0.00 0.00 0.00 0.00 3,336.99 3,336.99 0.00 3,336.99 FNMA Disc Note 0.000%Due 11-06-09(313589nx7) 0.00 0.00 0.00 0.00 0.00 0.00 31,850.00 31,850.00 FNMA 3.875%Due 12-10-09(31398ajx1) 71,687.50 0.00 0.00 116,250.00 58,125.00 13,562.50 -23,543.01 34,581.99 FNMA 3.250%Due 02-10-10(31398ak(9) 9,208.33 0.00 0.00 0.00 16,250.00 25,458.33 -10,781.02 5,468.98 FHLB 1.000%Due 03-02-10(3133xsz84) 6,555.56 0.00 0.00 0.00 10,000.00 16,555.56 573.59 10,573.59 PlainsCapital Bank CD 1.500%Due 04-01-10(6000102) 0.00 0.00 0.00 0.00 5,958.90 5,958.90 0.00 5,958.90 FHLB 0.875%Due 04-15-10(3133xtj23) 0.00 0.00 0.00 0.00 2,552.08 2,552.08 29.67 2,581.75 FHLB 1.050%Due 05-28-10(3133xt4s2) 3,850.00 0.00 0,00 8,837.50 7,875.00 2,887.50 228.17 8,103.17 FHLB 1.120%Due 06-30-10(3133xsyb8) 5,786.67 0.00 0.00 14,093.33 8,400.00 93.33 1,004.28 9,404.28 FHLB 1.060%Due 07-13-10(3133xthr0) 0.00 0.00 0.00 0.00 6,271.67 6,271.67 -177.84 6,093.82 FNMA 3.250%Due 08-12-10(31398asu7) 22,118.06 0.00 0.00 0.00 40,625.00 62,743.06 -23,980.26 16,644.74 FHLMC 4.750%Due 09-22-10(3128x4kf7) 3,562.50 0.00 0.00 0.00 35,625.00 39,187.50 -20,057.56 15,567.44 FHLMC 2.000%Due 12-30-10(3128x8bx9) 15,166.67 0.00 0.00 30,000.00 15,000.00 166.67 0.00 15,000.00 FFCB 1.850%Due 02-17-11(31331gmu0) 11,305.56 0.00 0.00 0.00 23,125.00 34,430.56 0.00 23,125.00 FNMA Step-up 1.250%Due 05-20-11(3136thp13) 0.00 0.00 0.00 0.00 4,270.83 4,270.83 0.00 4,270.83 FHLMC 2.125%Due 12-22-11(3128x8ck6) 23,375.00 0.00 0.00 42,500.00 21,250.00 2,125.00 0.00 21,250.00 FNMA 4.150%Due 01-13-12(31398ast0) 35,966.67. 0.00 0.00 0.00 41,500.00 77,466.67 -27,991.34 13,508.66 448,906.90 0.00 206,287.50 234,265.78 533,119.06 541,472.69 -65,324.90 467,794.16 Parks Development Corporation TexSTAR (texstar) 0.00 0.00 0,00 2,710.63 2,710.63 0.00 0.00 2,710.63 TexPool (texpool) 0.00 0.00 0.00 9,485.69 9,485.69 0.00 0.00 9,485.69 0.00 0.00 0.00 12,196.32 12,196.32 0.00 0.00 12,196.32 GRAND TOTAL 448,906.90 0.00 206,287.50 246,462.10 545,315.38 541,472.69 -65,324.90 479,990.48 First Southwest Asset Management Page 9 of 13 roe rum, Pm MINI r", r-iii rit v." rim, c r-1 r, rms rue rue rum r-• r-v ros City of Southlake AMORTIZATION AND ACCRETION From 03-31-09 To 06-30-09 Purchase Information Amortization/Accretion Information Purchase Date Total Adjusted Quantity Date Price Total Cost To Date To Date Balance Cost General Operating FHLMC 2.265%Due 04-14-09(3128x7jw5) 0 05-29-08 0.000 0.00 360.75 8,880.00 0.00 FHLMC 3.375%Due 04-15-09(3134a4uq5) 0 04-16-08 0.000 0.00 -614.42 -15,975.00 0.00 U.S.T-Note 4.500%Due 04-30-09(912828gp9) 0 08-06-08 0.000 0.00 -5,396.77 -49,687.50 0.00 FHLB 2.375%Due 05-27-09(3133xrd98) 0 05-27-08 0.000 0.00 598.36 3,900.00 0.00 FHLB 2.700%Due 06-30-09(3133xreu0) 0 05-30-08 0.000 0.00 41.05 180.00 0.00 FFCB 3.125%Due 07-01-09(3133 1yz37) 3,000,000 07-01-08 100.113 3,003,390.00 -845.18 -3,390.00 0.00 3,000,000.00 FHLB 5.375%Due 07-17-09(3133xfyk6) 1,500,000 05-29-08 102.935 1,544,025.00 -9,679.85 -42,321.74 -1,703.26 1,501,703.26 U.S.T-Note 4.625%Due 07-31-09(912828gy0) 3,000,000 08-06-08 102.234 3,067,031.25 -16,991.21 -61,429.75 -5,601.50 3,005,601.50 FHLB Disc Note 0.000%Due 08-28-09(313385kz8) 2,500,000 09-08-08 97.197 2,429,937.50 18,010.42 58,583.33 11,479.17 2,488,520.83 FHLB Disc Note 0.000%Due 09-04-09(313385Ig9) 2,500,000 09-08-08 97.142 2,428,552.08 18,010.42 58,583.34 12,864.58 2,487,135.42 FHLMC 4.000%Due 09-22-09(3128x3wy5) 5,000,000 11-05-08 101.192 5,059,580.00 -16,890.28 -44,174.58 -15,405.42 5,015,405.42 FFCB 2.700%Due 09-23-09(31331gce7) 3,000,000 10-10-08 100.449 3,013,467.00 -3,521.54 -10,216.34 -3,250.66 3,003,250.66 FHLB 3.375%Due 09-29-09(3133xsdp0) 3,000,000 09-29-08 99.977 2,999,310.00 172.03 519.86 170.14 2,999,829.86 FNMA Disc Note 0.000%Due 10-07-09(313589mr1) 3,000,000 10-17-08 96.844 2,905,333.33 24,266.67 68,533.34 26,133.33 2,973,866.67 PlainsCapital Bank CD 1.400%Due 11-02-09(6000103) 3,000,000 06-02-09 100.000 3,000,000.00 0.00 0.00 0.00 3,000,000.00 FNMA Disc Note 0.000%Due 11-06-09(313589nx7) 6,000,000 11-18-08 97.941 5,876,450.00 31,850.00 78,750.00 44,800.00 5,955,200.00 FNMA 3.875%Due 12-10-09(31398ajx1) 6,000,000 11-10-08 101.705 6,102,300.00 -23,543.01 -60,280.46 -42,019.54 6,042,019.54 FNMA 3.250%Due 02-10-10(31398akx9) 2,000,000 02-04-09 102.197 2,043,940.00 -10,781.02 -17,415.49 -26,524.51 2,026,524.51 FHLB 1.000%Due 03-02-10(3133xsz84) 4,000,000 02-04-09 99.938 3,997,520.00 573.59 926.56 1,553.44 3,998,446.56 PlainsCapital Bank CD 1.500%Due 04-01-10(6000102) 5,000,000 06-02-09 100.000 5,000,000.00 0.00 0.00 0.00 5,000,000.00 FHLB 0.875%Due 04-15-10(3133xtj23) 1,500,000 04-21-09 99.990 1,499,850.00 29.67 29.67 120.33 1,499,879.67 FHLB 1.050%Due 05-28-10(3133xt4s2) 3,000,000 03-23-09 99.964 2,998,920.00 228.17 250.73 829.27 2,999,170.73 FHLB 1.120%Due 06-30-10(3133xsyb8) 3,000,000 02-20-09 99.817 2,994,510.00 1,004.28 1,445.73 4,044.27 2,995,955.73 First Southwest Asset Management Page 10 of 13 I PPM IPIP"‘ A I UI p- ' f 1 r--* r-, / " r-, r--i PRI MIN OM NM IPPIP NMI 1•111 a Ilk City of Southlake AMORTIZATION AND ACCRETION From 03-31-09 To 06-30-09 Purchase Information Amortization/Accretion Information Purchase Date Total Adjusted Quantity Date Price Total Cost To Date To Date Balance Cost FHLB 1.060%Due 07-13-10(3133xthr0) 3,000,000 04-20-09 100.037 3,001,110.00 -177.84 -177.84 -932.16 3,000,932.16 FNMA 3.250%Due 08-12-10(31398asu7) 5,000,000 01-07-09 103.072 5,153,585.00 -23,980.26 -46,115.88 -107,469.12 5,107,469.12 FHLMC 4.750%Due 09-22-10(3128x4kf7) 3,000,000 12-17-08 104.729 3,141,870.00 -20,057.56 -43,200.91 -98,669.09 3,098,669.09 FHLMC 2.000%Due 12-30-10(3128x8bx9) 3,000,000 12-30-08 100.000 3,000,000.00 0.00 0.00 0.00 3,000,000.00 FFCB 1.850%Due 02-17-11 (31331gmu0) 5,000,000 02-17-09 100.000 5,000,000.00 0.00 0.00 0.00 5,000,000.00 FNMA Step-up 1.250%Due 05-20-11(3136thp13) 3,000,000.00 05-20-09 100.000 3,000,000.00 0.00 0.00 0.00 3,000,000.00 FHLMC 2.125%Due 12-22-11(3128x8ck6) 4,000,000 12-22-08 100.000 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 12-18-08 103.003 4,120,120.00 -27,991.34 -59,981.45 -60,138.55 4,060,138.55 PORTFOLIO TOTAL 90,380,801.16 -65,324.90 -173,784.39 -259,719.27 90,259,719.27 GRAND TOTAL 90,380,801.16 -65,324.90 -173,784.39 -259,719.27 90,259,719.27 j First Southwest Asset Management Page 11 of 13 City of Southlake PROJECTED FIXED INCOME CASH FLOWS Beginning July 1,2009 SECURITY DESCRIPTION JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN TOTAL AGENCY COUPON SECURITIES FFCB 3.125%Due 07-01-09(3133 Iyz37) 3,046,875.00 3,046,875.00 FHLB 5.375%Due 07-17-09(3133xfyk6) 1,540,312.50 1,540,312.50 FHLMC 4.000%Due 09-22-09(3128x3wy5) 5,100,000.00 5,100,000.00 FFCB 2.700%Due 09-23-09(31331gce7) 3,040,500.00 3,040,500.00 FHLB 3.375%Due 09-29-09(3133xsdp0) 3,050,625.00 3,050,625.00 FNMA 3.875%Due 12-10-09(31398ajx1) 6,116,250.00 6,116,250.00 FNMA 3.250%Due 02-10-10(31398akx9) 32,500.00 2,032,500.00 2,065,000.00 FHLB 1.000%Due 03-02-10(3133xsz84) 4,043,333.33 4,043,333.33 FHLB 0.875%Due 04-15-10(3133xtj23) 6,562.50 1,506,343.75 1,512,906.25 FHLB 1.050%Due 05-28-10(3133xt4s2) 15,750.00 3,015,750.00 3,031,500.00 FHLB 1.120%Due 06-30-10(3133xsyb8) 16,800.00 3,016,800.00 3,033,600.00 FHLB 1.060%Due 07-13-10(3133xthr0) 15,900.00 15,900.00 31,800.00 FNMA 3.250%Due 08-12-10(31398asu7) 81,250.00 81,250.00 162,500.00 FHLMC 4.750%Due 09-22-10(3128x4kf7) 71,250.00 71,250.00 142,500.00 FHLMC 2.000%Due 12-30-10(3128x8bx9) 30,000.00 30,000.00 60,000.00 FFCB 1.850%Due 02-17-11(3133lgmu0) 46,250.00 46,250.00 92,500.00 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) 83,000.00 83,000.00 166,000.00 Total 4,670,187.50 160,000.00 11,262,375.00 22,462.50 15,750.00 6,205,550.00 83,000.00 2,160,000.00 4,114,583.33 1,522,243.75 3,015,750.00 3,089,300.00 36,321,202.08 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 of 13 1 gm roe MIN OM I /r", r^+ i ' r-4 c r--9 r-w wMINI Mlle NM WIPP‘ IMO NMI City of Southlake PROJECTED FIXED INCOME CASH FLOWS Beginning July 1,2009 SECURITY DESCRIPTION JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN TOTAL Agency Floating Rate Note FNMA Step-up 1.250%Due 05-20-11(3136thp13) 18,750.00 37,500.00 56,250.00 Total 18,750.00 37,500.00 56,250.00 CERTIFICATES OF DEPOSIT PlainsCapital Bank CD 1.400%Due 11-02-09 3,017,605.48 3,017,605.48 (6000103) PlainsCapital Bank CD 1.500%Due 04-01-10 5,062,260.27 5,062,260.27 (6000102) Total 3,017,605.48 5,062,260.27 8,079,865.75 TREASURY NOTES U.S.T-Note 4.625%Due 07-31-09(912828gy0) 3,069,375.00 3,069,375.00 Total 3,069,375.00 3,069,375.00 Grand Total 7,739,562.50 2,660,000.00 13,762,375.00 3,022,462.50 9,052,105.48 6,205,550.00 83,000.00 2,160,000.00 4,114,583.33 6,584,504.02 3,053,250.00 3,089,300.00 61,526,692.84 First Southwest Asset Management Page 13 of 13 C CITY OF SOUTHLAKE FINANCE DEPARTMENT CITY OF SOUTHLAKE CAPITAL IMPROVEMENTS PROGRAM QUARTERLY STATUS REPORT June 30, 2009 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. C C C Law 1400 Main Street Suite 440•Southlake,TX 76092 (817)748-8042•www.ci.southlake.tx.us C C TABLE OF CONTENTS 1 1,1 Page Street and Drainage Improvements 1 Traffic Management Projects 5 Water System Improvements 6 Sewer System Improvements 8 Crime Control Projects 10 Southlake Parks Development Corp Improvements 11 kar C C I C I C C II I CITY OF SOUTHLAKE,TEXAS FY 2008-09 CAPITAL IMPROVEMENTS PLAN —Street& Drainage Improvement Projects— s Report Date: June 30,2009 Title: Location: Project Description: IIFM 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 II 114)along the Randol Mill ROW Priority II funding status 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 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. Total Estimated Cost: LTD Actual Cost: Cost to Complete: $ 980,000 $ 253,664 $ 726,336 Fundinci Source(s): Status: IIG.O.Bonds,G.O.Bond Interest Tarrant County,through an interlocal agreement with the City,is in the process of obtaining right-of-way on chw the City's behalf. This is part of Phase 2 of the project. Completion Date: Pending completion of Phase I Title: Location: Project Description: N.White Chapel Ultimate N.White Chapel from Emerald This project is for the design of the ultimate roadway 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: $ 7,695,000 $ 376,483 $ 7,318,517 ilFunding Source(s): Status: G.O.Bonds,G.O.Bond Interest,Roadway Impact funds Design is currently underway. Construction is tentatively scheduled to begin first quarter 2010. Completion Date: Fall 2010 II Title: Location: Project Description: Sidewalks 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: $ 1,117,168 $ 101,538 $ 1,015,631 Page 1 I CITY OF SOUTHLAKE,TEXAS FY 2008-09 CAPITAL IMPROVEMENTS PLAN —Street&Drainage Improvement Projects— Ls Report Date: June 30,2009 Funding Source(s): Status: G.O.Bonds,Strategic Initiative Fund transfer In progress Completion Date: When funds are depleted Title: Location: Project Description: Roadway and drainage Shumaker Lane& Construct paving and drainage on Shumaker Lane. This I 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 E the existing pavement and subgrade. Existing bar ditches will be regraded and reshaped to improve drainage. ITotal Estimated Cost: LTD Actual Cost: Cost to Complete: $ 945,858 $ 690,391 $ 255,467 kip, Funding Source(s): Status: Strategic Initiative Fund transfer This project has been awarded and construction began in November 2008. Project is substantially complete. Completion Date: Summer 2009 Title: Location: Proiect Description: I Roundabout construction White Chapel at Continental Reconstruct the intersection to improve traffic flow and drainage. The design will include a traffic analysis to determine the optimal intersection. Total Estimated Cost: LTD Actual Cost: Cost to Complete: $ 830,000 $ 178,230 $ 651,770 Funding Source(s): Status: I Strategic Initiative Fund transfer,Roadway Impact fund Project design is complete and the right-of-way acquisition is underway. The project was awarded May 2009 with construction to begin June 2009. Completion Date: Fall 2009 Title: Location: Project Description: i ... Roundabout construction Dove at N.White Chapel Reconstruct the intersection to improve traffic flow and drainage. The design will include a traffic analysis to IIdetermine the optimal intersection. Page 2 C CITY OF SOUTHLAKE,TEXAS FY 2008-09 CAPITAL IMPROVEMENTS PLAN --Street& Drainage Improvement Projects- L,i Report Date: June 30,2009 IITotal Estimated Cost: LTD Actual Cost: Cost to Complete: $ 805,000 $ 94,534 $ 710,466 Funding Source(s): Status: Strategic Initiative Fund transfer,Roadway Impact fund The project design is complete,right of way and utility relocations are underway,and the project is scheduled to be awarded in April 2009. Completion Date: Winter 2009 I Title: Location: Proiect Description: IIRoundabout 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. Total Estimated Cost: LTD Actual Cost: Cost to Complete: Icip, $ 2,948,676 $ 393,404 $ 2,555,272 Funding Source(s): Status: Strategic Initiative Fund transfer,Roadway Impact fund The project design is complete,right of way and utility Storm Water Drainage funds relocations are underway,and the project is scheduled to be awarded in April 2009.Construction will begin May 2009. Completion Date: Fall 2009 11 Title: Location: Proiect 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 Middle School. construction as part of other capital projects. Total Estimated Cost: LTD Actual Cost: Cost to Complete: $ 417,000 $ 57,042 $ 359,958 Funding Source(s): Status: G.O.Bonds,Strategic Initiative Fund transfer Design is complete and project will be bid this summer Completion Date: Fall 2009 L iliw Page 3 C CITY OF SOUTHLAKE,TEXAS FY 2008-09 CAPITAL IMPROVEMENTS PLAN —Street&Drainage Improvement Projects -- L,.. Report Date: June 30,2009 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 C traffic lanes to encourage re-development of the Mesco site and alleviate traffic congestion. Total Estimated Cost: LTD Actual Cost: Cost to Complete: $ 1,880,000 $ 583,945 $ 1,296,055 Fundinq Source(s): Status: Roadway Impact fees,G.O.Bonds The project design is currently 90%complete and construction is estimated to begin in 2010. Completion Date: FY 2010-11 Title: Location: Project Description: chow Roadway repair due to 12"water Highland from Shady Oaks This project involves upgrading 5500 LF of 6"pipe with 12" line construction along Highland to SH114 water line under Highland Street. The pavement will be reconstructed and will also add left turn lanes for the proposed hospital development from White Chapel to SH 114. Also included is the overlay of Westwood Drive and Eastwood Drive. Total Estimated Cost: LTD Actual Cost: Cost to Complete: $ 630,500 $ 29,032 $ 601,468 Fundina Source(s): Status: G.O.Bonds Engineering is complete and project has been awarded. Construction is currently underway. Completion Date: Fall 2009 C C • L ...w lc Page 4 I CITY OF SOUTHLAKE,TEXAS IIFY 2008-09 CAPITAL IMPROVEMENTS PLAN —Traffic Management Projects — f ,► Report Date: June 30,2009 Title: Location: Proiect Description: IIAgreement 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. along FM 1709. Waterford Dr.,Ginger Ct.,Stone Lakes PI.,Timber Lake PI.,Lake I 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: II $ 500,000 $ 5,976 $ 494,025 IFunding Source(s): Status: G.O.Bonds,G.O.Bond Interest The design is complete,TXDOT has approved the plans kile and construction is scheduled to begin Fall 2009. Completion Date: Summer 2010 Title: Location: Project Description: Design of right turn deceleration Various locations on Southlake Professional services agreement with TranSystems I lanes Blvd. Corporation.Services will include design,right-of-way surveying with digital aerial photogrammetry,preparation of construction plans and specifications,and preparation of I construction documents.The project will also address drainage and culvert issues that are necessary to accommodate the widening. Total Estimated Cost: LTD Actual Cost: Cost to Complete: $ 343,123 $ 294,176 $ 48,947 Funding Source(s): Status: C G.O.Bonds,G.O.Bond Interest Utility relocation plans are complete and right of way acquisition is underway.Utility construction will begin in June 2009. The design of the deceleration lanes is complete and plans have been approved by TXDOT.Construction is anticipated to begin Fall 2009. Completion Date: Summer 2010 Limy Page 5 II CITY OF SOUTHLAKE,TEXAS FY 2008-09 CAPITAL IMPROVEMENTS PLAN —Water System Improvement Projects-- s Report Date: June 30,2009 Title: Location: Project Description: 111 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 I 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: $ 2,860,000 $ 2,691,533 $ 168,467 Funding Source(s): Status: Tax&Revenue Certificates of Obligation Construction 98%complete. The new tank is operational. I Final paving and landscaping are nearing completion. Completion Date: Summer 2009 I Title: Location: Proiect Description: 30"water supply line to TW King TW King Pump Station#2kir Construct approximately 32,000 linear feet of 24"water Pump Station#2 transmission line in order to fully utilize pump station#2 and the ground storage tanks. Currently,this pump station is not I connected to the Fort Worth supply line. It has to be back fed from pump station#1. This process is inefficient and reduces the City's ability to pump water throughout the Isystem. Total Estimated Cost: LTD Actual Cost: Cost to Complete: II $ 10,066,000 $ 408,968 $ 9,657,032 Funding Source(s): Status: Tax&Revenue Certificates of Obligation This part of the project is for 7,500 LF for Segments A and F. The design phase is complete and construction began June 2009. I Completion Date: FY 2009/10 Title: 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 completed during FY 01-02 from FM 1709 to Florence. ILr Total Estimated Cost: LTD Actual Cost: Cost to Complete: $ 930,000 $ 95,000 $ 835,000 II Page 6 11 CITY OF SOUTHLAKE,TEXAS FY 2008-09 CAPITAL IMPROVEMENTS PLAN —Water System Improvement Projects-- L.r Report Date: June 30,2009 Funding Source(s): Status: 11 Tax&Revenue Certificates of Obligation Construction of the water line is on hold until the right-of-way has been acquired. This will be done in conjunction with IIPhase I I of the FM 1938 improvement project. Completion Date: September 2010 Title: Location: Project Description: II 12"water line along Highland from Shady Oaks This project involves upgrading 5500 LF of 6"pipe with 12" Highland to SH114 water line. Total Estimated Cost: LTD Actual Cost: Cost to Complete: $ 433,208 $ 334,750 $ 98,458 Funding Source(s): Status: Tax&Revenue Certificates of Obligation Engineering is complete and project has been awarded. cov, Construction is currently underway. Completion Date: Fall 2009 Title: Location: Project Description: City of Fort Worth North Beach,Caylor,Southlake Meter station improvements required for Fort Worth to meter modifications Pearson and Keller pump stations assume meter reading responsibility and to bill the City of Keller and the City of Southlake separately C Total Estimated Cost: LTD Actual Cost: Cost to Complete: $ 818,501 $ 228,107 $ 590,394 IIFunding Source(s): Status: Contract has been awarded and construction began in CTax&Revenue Certificates of Obligation January 2009. Completion Date: Winter 2009-10 C L Alpo 11 Page 7 II IC CITY OF SOUTHLAKE,TEXAS FY 2008-09 CAPITAL IMPROVEMENTS PLAN —Sewer System Improvement Projects-- L.' Report Date: June 30,2009 Title: Location: Project Description: 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 Hunter's Creek to Sunshine Ln. Total Estimated Cost: LTD Actual Cost: Cost to Complete: I $ 2,254,735 $ 976,981 $ 1,277,754 Funding Source(s): Status: Tax&Revenue Certificates of Obligation The Woodland Heights and Shumaker Lane projects are I (issued in 2006) complete.Construction on Quail Creek Estates is anticipated to begin Fall 2009. Completion Date: Spring 2010 I Title: Location: Project Description: N-1 sewer analysis and meter N-1 sewer line from Southlake and Sewer system capacity and structural integrity evaluation station improvements for TRA Westlake border to north of and miscellaneous meter station improvements necessary improvements Kirkwood Blvd. to satisfy TRA requirements for turnover of ownership and I maintenance of the N-1 line north of the Southlake city limit. Completion of the turnover will shift Westlake billing responsibility to TRA. Total Estimated Cost: LTD Actual Cost: Cost to Complete: $ 200,000 $ 37,191 $ 162,809 Funding Source(s): Status: 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. Completion Date: Contract with RJN is complete I C L am" 1 Page 8 C CITY OF SOUTHLAKE,TEXAS FY 2008-09 CAPITAL IMPROVEMENTS PLAN —Sewer System Improvement Projects— Report Date: June 30,2009 Title: Location: Project Description: 8"sewer line Heatherwood Estates This project involves providing sanitary sewer service to the Royal Oaks Estates indicated neighborhoods which are experiencing problems Twin Creek Estates with septic systems;also to improve groundwater quality within the city. Total Estimated Cost: LTD Actual Cost: Cost to Complete: $ 2,700,000 $ 107,509 $ 2,592,491 Funding Source(s): Status: Tax&Revenue Certificates of Obligation The project design is currently 90%complete and (issued in 2008) construction is estimated to begin in 2010. Completion Date: Summer 2010 City I I C C w C Page 9 C CITY OF SOUTHLAKE,TEXAS FY 2008-09 CAPITAL IMPROVEMENTS PLAN —Crime Control Fund Projects Ls Report Date: June 30,2009 Title: Location: Proiect Description: DPS East facility Central DPS facility to be located Design and construction of a centrally located DPS facility. at 667 N.Carroll Ave. Total Estimated Cost: LTD Actual Cost: Cost to Complete: $ 28,227,104 $ 18,799,335 $ 9,427,769 Funding Source(s): Status: IICrime Control sales tax Construction is approximately 68%complete Completion Date: Winter 2009 I Title: Location: Project Description: 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 CIIIF security in Town Square,as well as provide a valuable tool in the prevention and investigation of crime. IITotal 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 garages,Hilton Hotel,Harkins Theatre and Town Hall. Completion Date: FY 2009-10 Title: Location: Project Description: North DPS Facility Dove Road and Fire station to support fire and EMS services for north White Chapel part of the city.The facility will also double as a Police and Fire Services training facility. Total Estimated Cost: LTD Actual Cost: Cost to Complete: $ 968,300 $ 104,856 $ 863,444 Funding Source(s): Status: L +r' Crime Control sales tax The project is currently in the design stage. Completion Date: FY 2011-12 II Page 10 I CITY OF SOUTHLAKE,TEXAS IIFY 2008-09 CAPITAL IMPROVEMENTS PLAN —Southlake Parks Development Corp. Improvement Projects— Ls Report Date: June 30,2009 Title: Location: Project Description: Royal&Annie Smith Park 3001 Johnson Rd. Design,engineering and construction of an asphalt drive II developments and parking area off Johnson Road,24'pavilion,irrigation, amenities such as benches,etc.farm implement display, fine grading, landscaping,trail additions and playground. Total Estimated Cost: LTD Actual Cost: Cost to Complete: $ 451,652 $ 332,408 $ 119,244 Fundina Source(s): Status: Sales Tax Revenue Bonds Construction is approximately 70%complete. Completion Date: Fall 2009 1 Title: Location: Project Description: kw 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 II remodeling of existing pavilion,trails(2,300 I.f.),playground, sand volleyball and horseshoes. Total Estimated Cost: LTD Actual Cost: Cost to Complete: $ 977,348 $ 629,370 $ 347,978 Fundinq Source(s): Status: Sales Tax Revenue Bonds Construction is approximately 78%complete. Completion Date: Fall 2009 Title: Location: Project Description: I 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 large number of the fields and minimize the alternative of decentralizing lighted facilities. Total Estimated Cost: LTD Actual Cost: Cost to Complete: L ..... $ 2,238,000 $ 1,095,586 $ 1,142,414 I Page 11 I! I CITY OF SOUTHLAKE,TEXAS FY 2008-09 CAPITAL IMPROVEMENTS PLAN —Southlake Parks Development Corp. Improvement Projects— L...., Report Date: June 30,2009 Funding Source(s): Status: 11 Sales Tax Revenue Bonds Expenditures to date have been for Miles property at Bob Jones Park. Completion Date: When funds are depleted Title: Location: Proiect Description: Texas Parks and Wildlife trail Walnut Grove trail system Improvements to the Walnut Grove trail system. I restoration grant,matching fund Bob Jones Trailhead-4 covered picnic tables and corral participation fencing. Walnut Grove Trailhead-2 covered picnic tables. Erosion control and improvements to trail surfaces and 111 natural water crossings. Total Estimated Cost: LTD Actual Cost: Cost to Complete: $ 44,950 $ 22,049 $ 22,901 Funding Source(s):kw Status: Sales Tax Revenue Bonds, Project is approximately 50%complete Matching Funds from Southlake Mounted Patrol Completion Date: Fall 2009 Title: Location: Proiect Description: I Bicentennial Park design and Bicentennial Park Phase I improvements as part of the Bicentennial Park development schematic design include: Shady Oaks entrance/road/round-a-bout;west baseball four-plex and parking;drainage improvements with pond enhancements; I FM 1709 entrance improvements;Evan's house modifications;Tennis Courts(from Phase Ill) 11 Total Estimated Cost: LTD Actual Cost: Cost to Complete: $ 7,250,000 $ 968,046 $ 6,281,954 CFunding Source(s);_ Status: SPDC Operating Fund Design is complete and project is ready to be bid. Completion Date: FY 2010-11 Le Page 12 ot C CITY OF SOUTHLAKE,TEXAS FY 2008-09 CAPITAL IMPROVEMENTS PLAN —Southlake Parks Development Corp. Improvement Projects.... L.... Report Date: June 30,2009 Title: Location: Project Description: North Park Development Phase I Dove Road and Development of park area for lacrosse fields with potential White Chapel shared use for youth football and flag football.Improvements I include lighted athletic fields,trails,open space,playground, parking,concession/restroom building,exercise equipment, landscaping,irrigation,etc. Total Estimated Cost: LTD Actual Cost: Cost to Complete: $ 1,227,000 $ - $ 1,227,000 Funding Source(s): Status: CSPDC Operating Fund Design contract has been awarded. Completion Date: FY 2009/10 II Title: Location: Project Description: chie Lonesome Dove Park Lonesome Dove park Replacement of park playground including shade structure playground improvements and rubberized surfacing;park amenities such as benches, tables,water fountain and trash receptacles. Total Estimated Cost: LTD Actual Cost: Cost to Complete: $ 175,000 $ - $ 175,000 Funding Source(s): Status: SPDC Operating Fund Park design is complete and bid has been awarded for construction and the play structure. Completion Date: Fall 2009 • C C 1 - I Page 13 MI FIRST SOUTHWEST ASSET - MANAGEMENT STRENGTH STABILITY EXPERTISE .40 Pio First Southwest Asset Management ECONOMIC SUMMARY — 2ND QUARTER 2009 Major Events Revenue is down to 1999 levels and is still declining.Other states are facing similar crisis on smaller scales.Michigan was already reeling but their By the beginning of the second quarter of 2009,the US.economy had problems appeared to worsen when Chrysler was forced into bankruptcy been in recession for 16 months,equalling the length of the 1981-82 and at the end of April followed by General Motors on June 1st. Days later, Il97173 downturns.The Fed had already cut the overnight funds rate the Obama administration announced that it would not grant auto parts to zero in December.A desperate$700 billion financial system rescue in manufacturers the$10 billion they had requested to save themselves from October and nearly$800 billion in stimulus money granted in February financial ruin. All in all,the market may have jumped the gun as the bad had yet to show verifiable results.Even the myriad of creative Fed programsI news overwhelmed the good during the second quarter while the 2007 designed to restore market liquidity had done little to halt the slide.But with 2009 recession became the longest in the post depression era. all the stimulus in place,recovery seemed almost certain to be on the way d by spring investors were watching for`green shoots",the latest media ilie phrase to describe signs of economic recovery during a recession. Housing enough the economic data improved during the spring months,it could ardly be categorized as good Both the manufacturing and service sectorLI '4$0 3, SM reports rose from record lows,while continuing to show contraction. 5 kik New and existing home sales finally established what appeared to be a 1250-r _ o ttom and began chipping away at the massive inventory of homes for sale. x e labor market,although still shedding huge numbers of jobs decelerated „'050- +s 5 a bit from the alarming layoff pace of the first quarter.Meanwhile,the stockt. -6 0 arkets produced double digit quarterly gains which gave a nice boost to 850 55 m onsumer confidence.Unfortunate),the antra anon of near term recove m `- atelyi p ry a — Existing Home Sales 4 to sparked fears of inflation,which in turn drove interest rates higher,which m 650- — New Home Sales +5 0 • onically could damage any recovery that might have occurred.And in fact, Z 4 5!Iam 'd few green shoots,there were already plenty of dead limbs. 450- —40 e charge-off rate for U.S.credit cards topped 10%for the first time in zso i i i t i t t i t t i i t i i s i i i E t i i i t i i l i t i i t i l i l F i i t i s 5 e history of the Moody's Credit Card Index and Moody's predicted a =' Z T n Z r n Z T n z m p m 1 o m q m m c o w f= < Q (0 Q .� m G Q K t� Q K 0O 1 CST m . CO OJ r O OJ 05 , d CO . %charge off rate by the second quarter of 2010.The U S.Postal Service announced that it would consider ending Saturday mail delivery.USA New and Existing Home Sales day reported that Federal tax revenue had dropped by 34%in April Annualized by Month rsus a year ago,translating into revenue lost of$138 billion.The paper went on to point out that income tax collections had fallen by 44%from The housing market began the quarter with a vastly improved outlook e prior year.With an estimated$3.5 trillion in U.S.Treasury debt likely In late March,the long anticipated Term Asset Backed Loan Facility be issued in 2009,there was growing concern about the Country's ability (TALF)was launched,the Public Private Investment program(PPIP)was to,---iv its future obligations. After S&P lowered its outlook on the United unveiled and the Fed announced that it would buy up to$300 billion in .00,..oms AAA debt rating to negative in May,concerns arose about the L bt rating of the United States,but Moody's quickly reaffirmed the U.S. Treasury securities.All of these programs helped drive 30-year mortgage rates down to a record low of 4.61%the last week in March.Historically AAA rating.California,which according to the IMF would be ranked low lending rates,combined with more than a 30%decline in home prices in terms of GDP if it were an independent country,is facing a budget nationwide,brought the affordability index to record levels.But even this ficit that could approach$42 billion by the end of the next fiscal year. wasn't enough to jump start the battered housing market.New home ales rose Y sli htl in April before falling again in May.New and existing Consumer Spending g home sales are down 75%and 34%respectively from the peak in summer It005.Housing starts fell 13%in April,establishing a new record low and It's become common knowledge that the U.S.economy is driven by ailing below the rate new households were being created.Although starts spending.In fact,a good case can be made that much of the economic rill nded in May,mortgage rates have since jumped nearly a full point prosperity enjoyed during the past 25 years can be attributed to a shift Lrtivlarch lows while swollen home inventory levels,supplemented by from a nation of savers to a nation of spenders.For better or for worse, steady stream of foreclosures,suggest that a healthy rebound could take this trend has now reversed itself.Business Week reported that since the much longer than many had hoped when the quarter began. third quarter of 2008,households have reduced their debt by more than $420 billion and for the first time ever,households paid off more debt than they took on for two straight quarters.Nine months ago,in August Employment 2008,the savings rate was 0.8%.Four months earlier,it was zero.By May I 2009,it had risen to 6.9%,the highest since 1993.Some speculate that Unemployment Rate(Left Hand Scale) Change in Non-Farm Payrolls(Right Hand Scale) the savings rate could soon top 10%. Although savings is a necessary 1 r 1 1 1 .. I 1 1 I ! if l 1 I _ 1 , I , o t 2l part of the deleveraging process and a prudent measure in response to 9— _111 x — goo the most severe recession in 60 years,overly thrifty shoppers could delay —-zoo or eventually derail any fragile economic rebound.Another damper _ _ —-300 on consumer spending has been gasoline prices,which continued to s _ climb. By late June,pump prices had risen over$1 per gallon since the --aoo i_ beginning of the year.Nevertheless,there were signs of life as retail sales g :': - --soo managed to post a slight 0.5%gain in May,while consumer sentiment s = e —-soo according to the University of Michigan survey,rose for the fifth straight — —-roo month to the highest level since February 2008. o -800 D 3 '5 m �> m O Z O m 3 IS 8 m 8 ' ' m Inflation 8 8 8 8 8 8 8 = Change in Nonfarm Payrolls — Unemployment Rate Employment 6.0 cibeUnemployment Rate and Change in Non-Farm Payrolls 5.5 5.0 4.5 labor market,typically considered a lagging economic indicator,l:. 40 •i �__6 rprised market participants in early June with a better than expected or 3p a�,•more precisely,a not-as-bad-as-forecast May employment report.Experts 2 5 1','1h U1 7117;1 1.; d predicted that another 520k jobs would be lost,but when only 345k 2'1.S `'� 1 1. �" 1 J' ; 1' 1 allydisappeared,the bond marketguessed recoveryand launched 1 0 t 1 I i j I I Iwo'I ,' 1 l ' • U U • • U •U 1 PP 1 11I IjIwo' o. 1, oi op ■ ■ ■ ■ ■ ■ 1 a uge selloff;this despite May unemployment rocketing upward from 0_5 L 1 1 i d L � 11 ' _• 1_� • • • 1 %to 9.4%,the highest since 1983.The June report(released on July -0 5 j eY�-I. )told a much different story.The Bloomberg median forecast was for -1.0 { s of 365k jobs,but the actual non farm payroll decline was a much _2.0 {_ �t g D gL D rn O Z O m m g D g larger 467k while unemployment rose to 9.5%.Total payroll losses since Q m a , - 9 4 _ g g 3 Q N - beginning of the recession 19 months ago now stand at 6.5 million. m 0 cording to the L.A.Times,the total jobs lost during this recession have CI CPI■Core already wiped out the entire employment gains from the prior nine years Consumer Price Index: bined.In fact,there are less people working now than nine years earlier Core and All Items, Ye a r over Year pite another 12.5 million joining the workforce.Some of the lesser June numbers were also quite weak-average hourly earnings rose by only$0.03 2009 Treasury debt issuance is up over 21/2 times from the same six- een April and June,the smallest percentage since the series beganItw month period in 2008 and the Fed balance sheet has more than doubled years ago;while the average workweek fell to 33 hours,the lowest ever to$2 trillion since the recession began.To many investors,both foreign recorded.The Bureau of Labor Statistics reported that almost half of all and domestic,this sounds like a long term recipe for inflation.But Fed finesses are freezing wages,furloughing workers or cutting hours this officials and many experts are more concerned with global deflation.The r.The significance of these alternate labor reductions is that companies official statement from the June FOMC meeting revealed that Fed officials will likely increase hours of existing employees before hiring additional believe"substantial resource slack"is expected to"dampen inflation"San s. In fact,before hiring permanent workers,employers usually Francisco Fed president Janet Yellen noted that the connection between 'Ky increasing the use of temporary help.Unfortunately,temp worker runaway fiscal deficits and high inflation only exists in developing layoffs accelerated in June from 8k to 38k. Significant labor market slack countries,not countries with advanced financial systems.Others, • ected to hinder economic growth for years to come.In fact,the San including economist Lacy Hunt,have pointed out that although the M2 Fcisco Fed pointed out in a newsletter in June that the recovery(when money supply is expanding at record levels,what's missing from the it appens)could be a jobless one. equation is the accustomed turnover,or velocity,of money.In past years, fin ancial innovation and massive amounts of leverage have combined to program.Nearly one in 10 Americans were out of work by quarter ramp up velocity and thereby exponentially increase dollars in the system. end,and one in six was either unemployed or underemployed. the tragedy(or perhaps triumph)of the recent financial collapse is that ie U.S.has entered a period of great deleveraging.Banks aren't lending. Second quarter GDP growth estimates don't appear to be as bad as Cncumers are buying fewer products and services and this reduced the first,but early forecasts still suggest another 2%to 3%negative ..�fir+d has dramatically lowered prices.Deflation is a concern already number.So,the recession is now unofficially 19 months old.The �ident in the economic data.Overall CPI was down 1.3%year-over-year financial markets may have gotten ahead of themselves in the 44m May,the biggest drop in 60 years,while overall PPI fell 5%in May,the second quarter,as sustainable recovery could still be many months ost in 50 years.These deflationary numbers should allow the Fed to away and the GDP outlook,though improved,is likely to fall short °ep rates low for a prolonged period of time while gradually reducing its of the typical recovery.Large monthly losses in nonfarm payrolls alance sheet. are expected to turn into very small gains late this year,but the unemployment rate is still forecasted to rise above 10%as newly encouraged workers resume postponed job hunts.Unprecedented tack Markets labor market slack could keep unemployment at uncomfortably high levels for years and since the cost of labor constitutes roughly Consumer confidence rose sharply in the second quarter in spite of the 2/3rds of the total cost of production,price pressure should remain ambling labor market Instead,the driving force for the increase seemed low for the foreseeable future.Although housing prices may have to be the equity markets,which gained back most of the losses experienced finally found a bottom,the high rate of sustained unemployment g the first quarter.From April through June the DOW rose 11%,thetrill is likely to hinder home sales and push back construction hires.A P 500 climbed 15%,and the NASDAQ was up 20%.The stock markets jump in mortgage lending rates from a low of 4.61%in late March apparently reacted to both expectations for future economic growth as well to a quarter ending 5.34%won't help. the announcement of better-than-expected first quarter corporate profits. cording to the Bureau of Economic Analysis,corporate profits rose by$48 But if the experts are right,the recession may have technically billion in the initial quarter of 2009 after plunging by$250 billion in the final ended already.The most recent Bloomberg economist survey er of 2008.With the direction of the economy expected to turn later in taken in early June showed a median GDP projected increase of year,there is cause for some degree of optimism. 0.50%for the third quarter and a 2.0%rise in the final quarter of the year.The rest of the world isn't expected to fare quite as well. S&P On June 22,the World Bank predicted that the global economy DOW 500 NASDAQ would drop by 2.9%,a sharp decrease from its earlier prediction 3 /00 7,609 795 1,529 for a lesser 1.7%decline. /30/09 8,447 916 1,835 o Change for Q2-2009 +11% +15% +20% As GDP moves into positive territory later this year,investors will anticipate when the Fed will begin raising overnight rates.Although this will be a much debated point until Fed officials actually start, there's plenty of support for expectations that the starting point is a Fed 3 mo 6 mo 2 yr 3 yr 10 yr long way away.At the June FOMC meeting,Fed officials said that Funds T-bill T-bill T-note T-note T-note "economic conditions are likely to warrant exceptionally low levels of 13 3/31/09 0.25% 0.21% 0.42% 0.80% 1.66% 2.67% the federal funds rate for an extended period"The latest Bloomberg igh 0.21% 0.41% 1.40% 2.92% 3.95% economist survey showed that the median forecast of more than 60 1121_- 0.09% 0.25% 0.81% 1.64% 2.66% top economists was for no change in the funds rate for at least the next four quarters.Nearly a third of these surveyed economists don't nd 6/30/09 0.25% 0.19% 0.35% 1.11% 2.56% 3.54% expect to see an increase before 2011. The bright side to an extended period of low interest rates in the E midst of controlled inflation is that the economy will be given a prolonged chance to grow. Companies and consumers will likely continue to deleverage and repair balance sheets for much of 2009. gonomic and Interest Rate Outlook If the Fed were to abruptly begin tightening credit before businesses and consumers actually wanted to borrow,they'd increase the real • t quarter growth was calculated and reported as a 5.5%annualized risk of a"double dip recession:It's becoming increasingly dear that P lass.Despite all the talk of"green shoots"during the quarter, the damage inflicted on both the US.and global economy over weaker economic news eventually dominated-the Mortgage Bankers many years was severe,and the time and money spent on repairing 10 ation(MBA)reported in May that 9.1%of all mortgages were this damage could dwarf all initial forecasts. Aq aent and that the percentage of loans entering foreclosure had en to nearly 1.4%,both new records.The MBA also reported that Scott McIntyre,CFA e in eight Americans was either late on a payment or already in o Senior Portfolio Manager closure.Reuters reported that one in nine Americans were using July 3,2009 d stamps to buy groceries with more than 33 million enrolled in the ma CITY OF SOUTHLAKE TEXAS REGULAR CITY COUNCIL MEETING: AUGUST 4, 2009 LOCATION: 1400 Main Street, Southlake, Texas 76092 Council Chambers in Town Hall WORK SESSION: 5:30 P.M. (The work session will be held jointly with the Planning and Zoning Commission.) 1. Call to order. 2. Invocation: David Whitington, Chaplain of the Month 3. Joint meeting with the Planning and Zoning Commission to consider the following item: A. Resolution No. 09-047 (ZA09-034), Site Plan for Southlake Town Square, Building GA-2 for Storefront Modification on property described as Lot 4R, Block 3R2R, Southlake Town Square Addition and being located at 252 Grand Avenue. Current Zoning: DT Downtown District. SPIN Neighborhood #8. Et 4. Joint meeting with the Planning and Zoning Commission closed. City Council will open their regular session. REGULAR SESSION: 6:30 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 city attorney a. Seek advice of the city attorney regarding Robinson contract. b. Seek advice of the city attorney regarding condemnation action for Dove Trail project. City of Southlake values: Integrity♦ Innovation • Accountability♦ Commitment to Excellence ♦ Teamwork C City of Southlake City Council meeting agenda August 4,2009 Page 2 of 6 ,r, 2. Section 551.072: Deliberation regarding real property a. Discuss the potential purchase or lease of real property for city facilities. 3. 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 2. Special recognition of Eric Wang B. City Manager's Report 1. Financial Report C. Parks and Recreation Board 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 Et removed from the general order of business and considered in its normal sequence. Nrr 4. Consent: A. Approve minutes from the July 21, 2009 regular City Council meeting. B. Award a construction contract for waterline relocation on F.M. 1938 to Pipeworks Construction, LLC in the amount of $112,701 and authorize construction phase contingencies. C. Approve Amendment No. 3 to the interlocal agreement with Tarrant PP 9 County for allocation of Tarrant County bond funds being provided in conjunction with the F.M. 1938 project. D. Resolution No. 09-045, Amend the City of Southlake Insurance Trust Agreement. E. Approve SPDC Matching Funds request from Bob Jones Nature Center organization for $550 ($1,100 total cost) to purchase four benches for the nature center patio. F. Approve professional services agreement with Dean Construction for Construction Manager at Risk services for Bicentennial Park, Phase I improvements. ..r City of Southlake values: Integrity♦ Innovation •Accountability• Commitment to Excellence ♦ Teamwork so C City of Southlake City Council meeting agenda August 4,2009 Page 3 of 6 sir G. Ordinance No. 961, 1st Reading, Amend Chapter 5, Article IV "Contractor Registration Ordinance" of the Southlake City Code. (If approved at first reading, the public hearing will be held August 18, 2009.) H. Resolution No. 09-028, Approve the terms and conditions of a program to promote economic development and stimulate business and commercial activity in the City; authorize the Mayor to execute an amended agreement with Southlake Land Holdings, L.P., a Texas limited partnership, by Southlake Land Holdings GP, L.L.C. a Texas limited liability company, its general partner for such purposes; and provide an effective date. REGULAR AGENDA: 5. Public Forum. (The Public Forum will not begin prior to 7:30 p.m.) 6. Ordinances, second readings, public hearings, and related items: A. Ordinance No. 959, 2nd Reading, Approve a negotiated resolution between the Atmos Cities Steering Committee ("ACSC" or "Steering Committee") and Atmos Energy Corp., Mid-Tex Division ("Atmos Mid-Tex" or E, "Company") regarding the company's rate review mechanism filing in all cities exercising original jurisdiction; declare existing rates to be unreasonable; requiring the company to reimburse cities' reasonable rate- making expenses; adopt tariffs that reflect rate adjustments consistent with the negotiated settlement and finding the rates to be set by the attached tariffs to be just and reasonable; approve Atmos' proof of revenues; adopt a savings clause; determine that this ordinance was passed in accordance with the requirements of the Texas Open Meetings Act; declare an effective date; and require delivery of this ordinance to the company and the steering committee's legal counsel. PUBLIC HEARING B. Resolution No. 09-046 (ZA09-024) Specific Use Permit for a Solar Energy System for the Martin Residence on property being legally described as Lot 2, Block 5, Chapel Downs Addition and being located at 104 East Chapel Downs Drive. Current Zoning: SF-30 Single-Family Residential District. SPIN Neighborhood #7. PUBLIC HEARING C. Resolution No. 09-047 (ZA09-034), Site Plan for Southlake Town Square, Building GA-2 for Storefront Modification on property described as Lot 4R, Block 3R2R, Southlake Town Square Addition and being located at 252 Grand Avenue. Current Zoning: DT Downtown District. SPIN Neighborhood #8. PUBLIC HEARING I 41IV City of Southlake values: Integrity♦ Innovation •Accountability♦ Commitment to Excellence • Teamwork p , City of Southlake City Council meeting agenda August 4,2009 Page 4 of 6 7. Ordinances, first readings, and related items: (There are no items on this agenda.) 8. Resolutions: A. Resolution No. 09-048, Authorize the city attorney to bring condemnation action for the purpose of obtaining a right-of-way easement for the purpose of constructing an 8 foot wide multi-purpose trail located on Tract 1A01, J.L. Chivers Survey, Abstract No. 348, located at 600 East Dove Road. B. Resolution No. 09-049, Authorize the city attorney to bring condemnation action for the purpose of obtaining a right-of-way easement for the purpose of constructing an 8 foot wide multi-purpose trail located on Tract 2B1A, J.L. Chivers Survey, Abstract No. 348, located at 680 East Dove Road. C. Resolution No. 09-050, Authorize the city attorney to bring condemnation action for the purpose of obtaining a right-of-way easement for the purpose of constructing an 8 foot wide multi-purpose trail located on Tract 2B, J.L. Chivers Survey, Abstract No. 348, located at 670 East Dove tk Road. %r 9. Other items for consideration: (There are no items on this agenda.) 10. Other items for discussion: (There are no items on this agenda.) 11. Meeting adjourned. CERTIFICATE I hereby certify that the above agenda was posted on the official bulletin boards at Town Hall, 1400 Main Street, Southlake, Texas, on Friday, July 31, 2009, by 6:00 p.m., pursuant to the Texas Government Code, Chapter 551. o:• • ••:� • ir— • • Lori Payne, TRM _ cn1. City Secretary 0 , •••,,,,,,•.••• If you plan to attend this public meetiiitf,pdklidkeoa disability that requires special needs, please advise the City Secretary's Office 48 hours in advance at 817-748-8016 and reasonable accommodations will be made to assist you. Aso City of Southlake values: Integrity♦ Innovation ♦Accountability♦ Commitment to Excellence • Teamwork • • City of Southlake City Council meeting agenda August 4,2009 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. Section 551.073: Deliberation regarding prospective gift or donation The City Council may conduct a closed meeting to deliberate a negotiated contract for a Nor 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. C I ..- City of Southlake values: Integrity♦ Innovation ♦Accountability• Commitment to Excellence ♦ Teamwork so • . City of S uthlake o City Council meeting agenda August 4,2009 Page 6 of 6 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 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. [th r I 'ow C C C C City of Southlake values: Integrity♦ Innovation •Accountability• Commitment to Excellence ♦ Teamwork STATE OF TEXAS § § CITY OF SOUTHLAKE § CERTIFIED AGENDA CITY COUNCIL I, Mayor John Terrell, 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 for the 8-N-0 , City Council meeting on '7- 31-0q , by (a' CEO a.m. m. 2. That the City Council convened in executive session on B -Li-09 , at (o 0 3 , a.m. p.m. ith the following Councilmembers and staff members present: Mayor Terrell Shana Yelverton, City Manager Carolyn Morris Jim Blagg, Assistant City Manager Virginia M. Muzyka Ben Thatcher, Assistant City Manager Laura K. Hill Lori Payne, City Secretar _r Greg Jones City Attorney Ic((et& (44Or Brandon Bledsoe Other staff members: Pamela Muller 3. That the matters discussed by the City Council were as follows: _ -CP Pfrt- (1) �1Adekkrla-(1'�i� a�ch a4 -crr- W ye_ T�1 ( ec-�, ` ) ) P Other staff members sent for (1): e,14r:c'T -iL1de) PC'.-('e'' o) viii) (2) Roc i 46 Oik C04rotc.,4 -[ervi4 iylGtT Other staff members present for (2): n 0S I /'i'lo e i Pe4r I<ao (3) Other staff members present for (3): (4) Other staff members present for (4): (5) Other staff members present for (5): 4. No formal action was taken by the Council during executive session. �1 !' 5. That the executive session ended on CS--(4-D j at 6 - / a.m.,(C. Par--- Lori Payne John Terrell City Secretary Mayor N:\City Secretary\Forms\certified agenda 2008.doc