1994-02-21SOUTHLARE PARR DEVELOPMENT CORPORATION MEETING
667 NORTH CARROLL AVENUE, SOUTHLARE, TEXAS
FEBRUARY 21, 1994
6:00 P.M.
MINUTES
MEMBERS PRESENT: Chairman, Stephen Apple; Secretary, David Yelton,
LouAnn Heath, Treasurer. Members: Gary Fickes and W. Ralph Evans.
MEMBERS ABSENT: Larry Goldstein, Vice -Chairman; Janet Murphy and
Jon Michael Franks.
STAFF PRESENT: Curtis E. Hawk, City Manager; Shana Rice, Assistant
City Manager; and, Sandra L. LeGrand, City Secretary.
Agenda Item #1, Call To Order.
Stephen Apple, Chairman of the Southlake Park Development
Corporation, called the meeting to order at 6:00 p.m.
Agenda Item #2, SPDC Resolution No. 94-01, Setting Public Hearing
in regard to Bonds.
Resolution No. 94-01, setting the date of a public hearing to
determine involvement of Southlake Economic Development Corporation
in financing project, was approved, setting the public hearing for
May 3, 1994, at 5:30 p.m.
Motion: Fickes
Second: Yelton
Ayes: Fickes, Yelton, Apple, Evans
Nays: None
Approved: 4-0 vote
Agenda Item #3, Adiournment
The meeting of the Southlake Park Development Corporation was
adjourned at 6:10 p.m.
Motion: Fickes
Second: Evans
Ayes: Fickes, Evans, Yelton, Apple
Nays: None
Approved:4-0 vote
tfully, Submi
D vid YAXton -
Secret y_
A RESOLUTION setting a public hearing on the expenditure
of corporation funds relating to the Bicentennial
Park expansion and development, the purchase of
land adjacent to the Corp of Engineers' property
and a gymnasium facility; and approving and
authorizing notice of such public hearing.
WHEREAS, the Board of Directors of the Southlake Parks
Development Corporation hereby finds and determines the bonds
should be issued for (i) the expansion and development of
Bicentennial Park, including baseball and softball fields, soccer
fields, playgrounds, parking lot and utilities development, access
roads, and the acquisition of land and rights -of -way, (ii) the
purchase of land adjacent to the Corp of Engineers' property for
park purposes and (iii) a gymnasium facility suitable for use for
amateur (including children's) sports, athletic and entertainment
purposes and events; and
WHEREAS, prior to the expenditure of funds for such projects,
the Board of Directors is required to hold a public hearing on such
matter; now, therefore,
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE SOUTHLAKE
PARKS DEVELOPMENT CORPORATION THAT a public hearing on the
expenditure of corporate funds for the expansion and development of
Bicentennial Park, the purchase of land adjacent to the Corp of
Engineers' property and a gymnasium facility shall be and is hereby
resolved to the held on 3rd day of May, 1994, during a meeting of
the Board of Directors to the held at 5:30 o'clock P.M. at the
City Hall of Southlake, Texas, 667 North Carroll Avenue, and the
Secretary of the Board of Directors is hereby authorized and
directed to cause a notice of such public hearing, substantially in
the form and content of Exhibit A hereto attached and incorporated
herein by reference as a part of this resolution for all purposes,
to be published in one or more newspapers having a general
circulation in the City of Southlake, Texas with the publication of
such notice to appear in such newspaper at least 60 days prior to
the date of said public hearing.
PASSED AND ADOPTED, this February 21, 1994.
SOUTHLAKE PARKS DEVELOPMENT
CORPORATION
Presid nt, Board of Difectors
(District Seal)
0151951
64
CERTIFICATE OF SECRETARY
THE STATE OF TEXAS §
§ SOUTHLAKE PARKS DEVELOPMENT
COUNTIES OF TARRANT AND DENTON S CORPORATION
I, the undersigned, Secretary of the Board of Directors of
the Southlake Parks Development Corporation, DO HEREBY CERTIFY as
follows:
1. On the 21st day of February, 1994, a regular meeting
of the Board of Directors of the Southlake Parks Development
Corporation, was held at a meeting place; the duly constituted
members of the Board being as follows:
STEPHEN APPLE
LARRY GOLDSTEIN
DAVID YELTON
GARY FICKES
JON MICHAEL FRANKS
W. RALPH EVANS
JANET MURPHY
PRESIDENT
VICE PRESIDENT
SECRETARY
DIRECTORS
and all of said persons were present at said meeting, except the
following: Goldstein, Murphy, Franks Among other
business considered at said meeting, the attached resolution
entitled:
"A RESOLUTION setting a public hearing on the
expenditure of corporation funds relating to
the Bicentennial Park expansion and
development; and approving and authorizing
notice of such public hearing".
was introduced and submitted to the Board for passage and adoption.
After presentation and due consideration of the resolution, and
upon a motion being made by Fickes and seconded
by Yelton , the resolution was finally passed and
adopted by the Board to be effective immediately by the following
vote:
4 voted "For" 0 voted "Against" 0 abstained
all as shown in the official Minutes of the Board for the meeting
held on the aforesaid date.
0152112
2. The attached resolution is a true and correct copy
of the original on file in the official records of the
Corporation; the duly qualified and acting members of the Board of
Directors of said Corporation on the date of the aforesaid meeting
are those persons shown above and, according to the records of my
office, advance notice of the time, place and purpose of the
meeting was given to each member of the Board; and that said
meeting and the deliberation of the aforesaid public business was
open to the public and written notice of said meeting, including
the subject of the above entitled resolution, was posted and given
in advance thereof in compliance with the provisions of V.T.C.A.,
Government Code, Chapter 551, as amended.
IN WITNESS WHEREOF, I have hereunto signed my name
officially and affixed the seal of said Corporation, this the 21st
day of February, 1994.
Secretary, B90d of Directors
Southlake Pah6ks Development
Corporation
0152112
-2-
SPpC RESOLUTION NO. 94.-01
A RESOLUTION setting a public hearing on the expenditure
of corporation funds relating to the Bicentennial
Park expansion and development; and approving and
authorizing notice of such public hearing.
WHEREAS, the Board of Directors of the Southlake Parks
Development Corporation hereby finds and determines the bonds
should be issued for the expansion and development of Bicentennial
Park, including baseball and softball fields, soccer fields,
playgrounds, parking lot and utilities development, access roads
and the acquisition of land and rights -of -way; and
WHEREAS, prior to the expenditure of funds for such project,
the Board of Directors is required to hold a public hearing on such
matter; now, therefore,
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE SOUTHLAKE
PARKS DEVELOPMENT CORPORATION THAT a public hearing on the
expenditure of corporate funds for the expansion and development of
Bicentennial Park shall be and is hereby resolved to the held on
3rd day of May, 1994, during a meeting of the Board of Directors to
the held at o'clock P.M. at the City Hall of Southlake,
Texas, 667 North Carroll Avenue, and the Secretary of the Board of
Directors is hereby authorized and directed to cause a notice of
such public hearing, substantially in the form and content of
Exhibit A hereto attached and incorporated herein by reference as
a part of this resolution for all purposes, to be published in one
or more newspapers having a general circulation in the City of
Southlake, Texas with the publication of such notice to appear in
such newspaper at least 60 days prior to the date of said public
hearing.
PASSED AND ADOPTED, this February 21, 1994.
SOUTHLAKE PARKS DEVELOPMENT
CORPORATION
President, Board of Directors
ATTEST:
Secretary, Board of Directors
(District Seal)
k0151951
�l
EX�i�li A
NOTICE OF PUBLIC HEARING/
EXPENDITURE OF SOUTHLAKE PARKS
DEVELOPMENT CORPORATION FUNDS RE: BICENTENNIAL PARK
NOTICE IS HEREBY GIVEN that the Southlake Parks Development
Corporation intends to participate in a project involving the
expansion and development of Bicentennial Park, including baseball
and softball fields, soccer fields, playgrounds, parking lot and
utilities development, access roads and the acquisition of land and
rights -of -way. It is estimated the total project cost will not
exceed $4,000,000. A public hearing on the expenditure of funds
for such project will be held by the Board of Directors of the
Southlake Parks Development Corporation during a meeting to be held
at o'clock _.M. on May 3, 1994 at the City Hall, 667 North
Carroll Avenue, Southlake, Texas.
Secretary, Board of Directors
Southlake Parks Development
Corporation
LW 0151948
City of Southlake, Texas
SOUTHLAKE PARKS DEVELOPMENT CORPORATION (SPDC)
Sales Tax Revenue Bonds, Series 1994
Schedule of Events
February 21 SPDC Meeting
• Passes resolution setting date of public hearing to determine
involvement of Southlake Parks Development Corporation in
financing project
February 24 Publish notice of public hearing in local newspaper
February 25 Prepare and send list of information required to prepare official statement
for bond sale
March 11 Receive required information from Southlake
April 13 Draft official statement sent to Southlake, SPDC, Bond Counsel, Rating
Services and Insurance companies
April 15 Receive comments on official statement
April 19 Distribute official statement to prospective purchasers
May 2 Receive ratings and insurance qualification
May 3 1) SPDC Meeting
A. Public hearing on project
B. SPDC opens bids for competitive sale of bonds
C. SPDC adopts bond issuance
2) Southlake City Council Meeting
A. Southlake City Council passes resolution approving
bond sale by SPDC
May 4 - 31 Attorney General's office reviews and approves bond transaction (review
of all legal documents)
June 1 Deliver bonds to Purchaser and SPDC receives funds
Note: Bold items indicate formal action by either the City of Southlake or the Southlake Parks
Development Corporation (SPDC)