1994-11-15A
CITY OF SOUTHLAKE, TEXAS
667 NORTH CARROLL AVENUE
SOUTHLAKE PARK DEVELOPMENT CORPORATION MEETING
NOVEMBER 15, 1994
MINUTES
MEMBERS PRESENT: Stephen Apple, Chairman; David Yelton, Secretary; LouAnn Heath,
Treasurer (ex-officio). Members: Janet Murphy, W. Ralph Evans, Jon Michael Franks, Gary
Fickes;
STAFF PRESENT: Curtis Hawk, City Manager; Shana Yelverton, Assistant City Manager;
Kim McAdams, Parks Coordinator; Jim Sabonis, First Southwest Company; Ed Esquival,
Bonding Agent; and, Sandra L. LeGrand, City Secretary.
The Southlake Park Development Corporation Meeting was called to order by Stephen Apple,
Chairman at 5:35 p.m.
Agenda Item #2, Approval of Minutes: August 15, 1994, October 3, 1994, and October 24,
1994
The Minutes of the Southlake Park Development Corporation meetings of August 15, 1994,
October 3, 1994, and October 24, 1994, were approved as presented.
Motion: Evans
Second: Franks
Ayes: Evans, Franks, Apple, Yelton, Murphy, Fickes
Nays: None
Approved: 6-0 vote
Agenda Item #3, Administrative Comments
The City Secretary was asked to place an item on the next Council agenda for appointment to
the Southlake Park Development Corporation to replace Larry Goldstein who has resigned.
Agenda Item #4-A, Executive Session
An executive session did not take place.
Southlake Park Development Corporation Minutes
(W November 15, 1994
page two
Agenda Item #5. Change Order #1 for Bicentennial Park Project, Phase I.
Kim McAdams, Park Coordinator explained the need for the change order to the members
present.
Janet Murphy asked if the SPDC has the funds necessary to pay for the increase. The Director
of Finance, LouAnn Heath explained that contingencies are available.
Motion was made to approve Change Order #1 as presented
Motion: Fickes
Second: Yelton
Ayes: Fickes, Yelton, Murphy, Franks, Evans, Apple
Nays: None
Approved: 6-0 vote
Agenda Item #6. Resolution No. 94-03, A Resolution Authorizing the issuance of "Southlake
Park Development Corporation Sales Tax Subordinate Lien Revenue Bonds, Series 1994".
tw LouAnn Heath, Director of Finance (Treasurer, SPDC) explained Resolution No. 94-03, is a
resolution authorizing the issuance of "Southlake Parks Development Corporation Sales Tax
Subordinate Lien Revenue Bonds, Series 1994" . This resolution will authorize the sale of $1
million dollars in subordinate sales tax revenue bonds, adding, this is something that has been
previously talked about when we were going through the process of the park development.
Knowing that we were at a point where we needed extra funds, but not at a point where were
able to issue the complete sales tax bonds that were issued. This will put us where we can meet
our project demands funding and move forward with our projects as we have them. First
Southwest Company staff is present to answer questions.
David Yelton asked when will the SPDC need the million
dollars. Ms. Heath stated delivery is set for December,
we will need funds the first part of 1995.
Motion was made to approve Resolution No. 94-03
Second: Fickes
Second: Evans
Ayes: Fickes, Evans, Murphy, Franks, Apple, Yelton
Nays: None
Approved: 6-0 vote
Southlake Park Development Corporation
November 15, 1994
page three
Agenda Item #7, Date for Next Meeting.
It was determined the next meeting of the SPDC will be held on December 19, 1994, at 6:00
p.m.
Agenda Item #8, Adjournment
The meeting was adjourned at 7:20 p.m. by Chairman, Stephen Apple.
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