2004-12-07 SPDC Meeting
City of Southlake, Texas
SOUTHLAKE PARKS DEVELOPMENT CORPORATION BOARD
MEETING
December 7, 2004
LOCATION: Town Hall Council Chamber
1400 Main Street, Southlake, Texas
REGULAR SESSION 4:30 P.M.:
1. Call to order.
2. Executive Session: Pursuant to the Open Meetings Act, Chapter 551 of the Texas
Government Code, Section 551.071, consultation with attorney, Section 551.072,
deliberation regarding real property, and/or Section 551.073, deliberation regarding
prospective gift.
3. Reconvene Action necessary on item discussed in Executive Session.
4. PUBLIC FORUM
5. ADMINISTRATIVE COMMENTS - No items this agenda.
CONSENT AGENDA:
All items listed below are considered to be routine by the Southlake Parks Development Corporation
Board and will be enacted with one motion. There will be no separate discussion of items unless a
Board member or citizen so requests, in which event the item will be removed from the general order
of business and considered in its normal sequence.
6. Consent: Approval of the minutes for the SPDC meeting held October 5, 2004.
REGULAR AGENDA:
7. Consider
A. Resolution No. 04-002-SPDC, a resolution authorizing the issuance of "Southlake Parks
Development Corporation Sales Tax Third Lien Revenue Bonds, Series 2004," dated
December 1, 2004, including the holding of a public hearing. PUBLIC HEARING.
B. Resolution No. 04-003-SPDC, a resolution authorizing the redemption of certain
outstanding "Southlake Parks Development Corporation Sales Tax Subordinate Lien
Revenue Bonds, Series 2000". PUBLIC HEARING.
8. Adjournment
SPDC Meeting
December 7, 2004
Page 2 of 2
CERTIFICATE
I hereby certify that the above agenda was posted on the Official Bulletin Boards at Town Hall, 1400 Main
Street, on Friday, December 3, 2004, by 5:00 p.m. pursuant to the Texas Government Code, Chapter 551.
,yµnnnate°n,ry~
uTH
C6 Ile
Lori A. Farwell TRMC O~ A
s
City Secretary _ If you plan to attend this meeting and ~1$gve'v, disa, fly (fat requires special needs, please advise the City
Secretary's Office 48 hours in advance avreasonable accommodations will be made to assist
you. off I t%
EXECUTIVE SESSION
SECTION 551.071 CONSULTATION WITH ATTORNEY
The Southlake Parks Development Corporation Board may conduct a private consultation with its attorney when the Board
seeks the advise of its attorney concerning any item on this agenda, about pending and contemplated litigations, or a
settlement offer, or on a matter in which the duty of the attorney to the Southlake Parks Development Board under the
Texas Disciplinary Rules of Professional Conduct of the State Board of Texas clearly conflicts with Chapter 551.
SECTION 551.072 DELIBERATION REGARDING REAL PROPERTY
The Southlake Parks Development Corporation Board may conduct a closed meeting to deliberate the
purchase, exchange, lease or value of real property.
SECTION 551.073 DELIBERATION REGARDING PROSPECTIVE GIFT
The Southlake Parks Development Corporation Board may conduct a closed meeting to deliberate a
negotiated contract for a prospective gift or donation to the City.
A FINAL ACTION, DECISION, OR VOTE ON A MATTER DELIBERATED IN A CLOSED
MEETING MAY ONLY BE MADE IN OPEN SESSION.
SOUTHLAKE PARKS DEVELOPMENT CORPORATION MEETING December 7, 2004
LOCATION: 1400 Main Street, Southlake, Texas
Council Chambers in Town Hall
Board Members Present: President Keith Shankland, Secretary Sherry Berman, and Members Michael
Mills, Virginia M. Muzyka, and Andy Wambsganss.
Board Members Absent: Vice-President Cara White and Member Carolyn Morris.
Staff Present: Director of Community Services Malcolm Jackson, Deputy Director of Community
Services Steve Polasek, Director of Finance Sharen Elam, and Deputy City Secretary Tara Brooks.
Agenda Item No. 1. Call to order. The meeting was called to order by President Shankland at 4:33
p.m.
Agenda Items No. 2. Executive Session/Agenda Item No. 3. Reconvene. No executive session was
necessary.
Agenda Item No. 4. Public Forum. No one spoke during the public forum.
Agenda Item No. 5. Administrative Comments. There were no administrative comments.
Agenda Item No 6 Approval of the minutes of the SPDC meeting held October 5, 2004.
Motion was made to approve the minutes of the SPDC meeting held October 5, 2004 as presented.
Motion: Wambsganss
Second: Muzyka
Ayes: Berman, Mills, Muzyka, Wambsganss, and Shankland
Nays: None
Approved: 5-0
Agenda Item No 7A Resolution No 04-002-SPDC, a resolution authorizing the issuance of
"Southlake Parks Development Corporation Sales Tax Third Lien Revenue Bonds, Series 2004,"
dated December 1, 2004, including the holding of a public hearing. Jim Saboms, First Southwest
Company, presented this item to the Commission along with Agenda Item No. 7B. Mr. Sabonis
explained to the Commission how the issuance of this bond will allow the Commission to pay off high
coupon debt and take on a low coupon debt to fund the acquisition of park property.
Pres:: -,nt Shankland thanked Director Elam for her work and ability to watch out for the City's money.
No c.ie spoke during the public hearing.
Moti; :i was made to approve Resolution No. 04-002-SPDC, authorizing the issuance of "Southlake
Parks Development Corporation Sales Tax Third Lien Revenue Bonds, Series 2004," as presented.
Moti 1: Muzyka
Secc1: Berman
Southlake Parks Development Corporation Meeting Minutes from December 7, 2004
Page 1 of 2
Ayes: Berman, Mills, Muzyka, Wambsganss, and Shankland
Nays: None
Approved: 5-0
Agenda Item No 7B Resolution No 04-003-SPDC, a resolution authorizing the redemption of
certain outstanding "Southlake Parks Development Corporation Sales Tax Subordinate Lien
Revenue Bonds, Series 2000." Jim Sabonis, First Southwest Company, presented this item to the
Commission along with Agenda Item No. 7A. Mr. Sabonis explained to the Commission how the
issuance of this bond will allow the Commission to pay off high coupon debt and take on a low coupon
debt to fund the acquisition of park property.
No o ie spoke during the public hearing.
Motion was made to approve Resolution No. 04-003-SPDC, authorizing the issuance of "Southlake
Parks Development Corporation Sales Tax Subordinate Lien Revenue Bonds, Series 2000."
Motion: Mills
Second: Muzyka
Ayes: Berman, Mills, Muzyka, Wambsganss, and Shankland
Nays : None
App- >ved: 5-0
Ag!"Aa Item No. 8. Adjournment.
Witli there being no other business to discuss, President Shankland adjourned the meeting at 4:42 p.m.
xz""~
eith Shanklan
AT1 ' ST: President
Tara Brooks
Dept, t y City Secretary
Southlake Parks Development Corporation Meeting Minutes from December 7, 2004
Page 2 of 2