05.08.2012 Town Council PacketPage 1 of 2
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1. Call to Order / Roll Call
2. Invocation, Pledge of Allegiance, and Pledge to the Texas Flag
3. Announcements of dates and times of upcoming community events.
4. Proclamation recognizing Peace Officer Memorial Week May 13th through May 19th.
CONSENT AGENDA
(Items placed on the Consent Agenda are considered routine in nature and are considered non-
controversial. The Consent Agenda can be acted upon in one motion. A majority vote of the Council
is required to remove any item for discussion and separate action. Council members may vote nay on
any single item without comment and may submit written comments as part of the official record.)
5. MINUTES, RESOLUTIONS AND OTHER ITEMS
5a. Consider and act upon minutes from the following Council meeting(s) (AP)
April 24, 2012 – Regular Town Council Meeting
5b. Consider and act upon Ordinance No. 12-12 rezoning 1.4± acres, located on the west side of
Preston Road, 1,600± feet south of Prosper Trail (787 N. Preston Road), from Commercial
(C) to Planned Development-Retail (PD-R). (Z12-0003). (CC)
5c. Consider and act upon the Quarterly Investment Portfolio for the period ending March 31,
2012. (MG)
5d. Consider and act upon Resolution No. 12-26, authorizing the Town Manager to hire a Special
Counselor to handle any matters involving Deion and/or Pilar Sanders in Municipal Court,
interviews of Prosper Police Officers and/or any other Police related matter which is the result
of the criminal matters pending or otherwise which relate to Deion and/or Pilar Sanders, as
well as any other purposes directed, and deemed necessary, by the Town Manager (ML)
6. CITIZEN’S COMMENT
(The public is invited to address the Council on any topic. However, the Council is unable to discuss
or take action on any topic not listed on this agenda. Please complete a “Public Comments Form” and
present it to the Town Secretary prior to the meeting.)
Other Comments by the Public
AGENDA
Regular Meeting of the Prosper Town Council
Prosper Municipal Chambers
108 W. Broadway, Prosper, Texas
Tuesday, May 8, 2012
6:00 p.m.
Page 2 of 2
REGULAR AGENDA
(If you wish to address the Council during the regular agenda portion of the meeting, please fill out a
“Speaker Request Form” and present it to the Town Secretary prior to the meeting. Citizens wishing
to address the Council for items listed as public hearings will be recognized by the Mayor.
Those wishing to speak on a non-public hearing related item will be recognized on a case-by-case
basis, at the discretion of the Mayor and Town Council.)
7. Consider and act upon Resolution No. 12-27 directing publication of notice of intent to issue Town of
Prosper Combination Tax and Revenue Certificates of Obligation. (MG)
8. EXECUTIVE SESSION
Recess into Closed Session in compliance with Section 551.001 et. seq. Texas Government Code, as
authorized by the Texas Open Meetings Act to deliberate regarding;
8a. Section 551.072. To deliberate the purchase, exchange, lease or value of real property located
south of Prosper Trail, east of the BNSF railroad, west of Custer, and north of Highway 380.
8b. Section 551.071. Meeting with Town Attorneys regarding a matter in which the duty of the
Town Attorneys under the Texas Disciplinary Rules of Professional Conduct of the State Bar
of Texas conflicts with the Open Meetings Act regarding legal issues relating to alleged
conflict of interest.
8c. Section 551.071. Meeting with Special Counsel regarding a matter in which the duty of the
Special Counsel under the Texas Disciplinary Rules of Professional Conduct of the State Bar
of Texas conflicts with the Open Meetings Act regarding legal issues relating to the Sanders
matters which involve the Town.
8d. To reconvene in Regular Session and take any action necessary as a result of the Closed
Session.
9. Possibly direct Town Staff to schedule topic(s) for discussion at a future meeting.
10. Adjourn
CERTIFICATION
I, the undersigned authority, do hereby certify that this Notice of Meeting was posted on the inside window at the Town Hall of the Town of Prosper, Texas, a place
convenient and readily accessible to the general public at all times, and said notice was posted at least 72 hours before said meeting was convened.
_________________________________ ________________ ____________________
Amy Piukana, TRMC
Town Secretary Date Notice Posted Date Noticed Removed
In addition to any specifically identified Executive Sessions, Council may convene into Executive Session under Section 551 of the Texas Government Code at any
point during the open meeting to discuss any item posted on this agenda. The Open Meetings Act provides specific exceptions that require that a meeting be open.
Should Council elect to convene into Executive Session, those exceptions will be specifically identified and announced. Any subsequent action, as a result of this
Executive Session, will be taken and recorded in open session.
NOTICE OF ASSISTANCE AT PUBLIC MEETINGS: The Prosper Town Council Meetings are wheelchair accessible. Persons with disabilities who plan to
attend this meeting and who may need auxiliary aids or services such as Interpreters for persons who are deaf or hearing impaired, readers, or large print, are
requested to contact the Town Secretary’s Office at (972) 569-1013. BRAILLE IS NOT AVAILABLE.
Mayoral Proclamation
Whereas, The Congress and President of the United States have designated May 15 as Peace Officers'
Memorial Day, and the week in which May 15 falls as National Police week; and
Whereas, the members of the Police Department for the Town of Prosper play an essential role in
safeguarding the rights and freedoms for the citizens of Prosper; and
Whereas, it is important that all citizens know and understand the duties, responsibilities, hazards, and
sacrifices of their law enforcement agency, and that members of our law enforcement agency recognize
their duty to serve the people by safeguarding life and property, by protecting them against violence
and disorder, and by protecting the innocent against deception and the weak against oppression; and
Whereas, the men and women of the Prosper Police Department unceasingly provide a vital public
service;
Now, therefore, I, Mayor Ray Smith for the Town of Prosper, Texas call upon all citizens of Prosper
and upon all patriotic, civic and educational organizations to observe the week of:
May 09 thru May 15, 2012,as Police Week
in which all of our citizens may join in commemorating law enforcement officers, past and
present, who, by their faithful and loyal devotion to their responsibilities, have rendered a
dedicated service to their communities.
. Witness my Hand and the Official Seal of
the Town of Prosper, Texas, on this the 8th
day of May, 2012
____________________________________
Mayor Ray Smith
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1. Call to Order / Roll Call – Mayor Ray Smith called the meeting to order at 6 p.m.
Council present included: Mayor Ray Smith; Mayor Pro Tem Kenneth Dugger, Deputy Mayor Pro
Tem Meigs Miller, Danny Wilson, Curry Vogelsang Jr., and Dave Benefield.
Council Member(s) absent: Jason Dixon
Staff present included: Mike Land, Town Manager; Amy Piukana, Town Secretary; Hulon Webb,
Director of Development Services; Frank Jaromin, Public Works Director; Chris Copple, Planning
Director; and Matthew Garrett, Finance Director.
2. Marc Rylander gave the Invocation. The Pledge of Allegiance and Pledge to the Texas Flag were
given.
3. Announcements of dates and times of upcoming community events. Town Manager Mike Land
reminded everyone that the Windmill Playground build starts on May 14 and continues until May
20th. Deputy Mayor Pro Tem announced that the ribbon cutting for the new park is scheduled on
May 20th at 5 p.m.
CONSENT AGENDA
(Items placed on the Consent Agenda are considered routine in nature and are considered non-
controversial. The Consent Agenda can be acted upon in one motion. A majority vote of the Council
is required to remove any item for discussion and separate action. Council members may vote nay on
any single item without comment and may submit written comments as part of the official record.)
4. MINUTES, RESOLUTIONS AND OTHER ITEMS
4a. Consider and act upon minutes from the following Council meeting(s) (AP)
April 10, 2012 – Regular Town Council Meeting
4b. Consider and act on the monthly financial reports for March 2012. (MG)
4c. Consider and act upon Resolution No. 12-25, amending the authorized representatives to
transact business with TexPool Participant Services. (MG)
Mayor Pro Tem Dugger made a motion to approve Consent Item 4a., as amended and 4b thru 4c, as
presented. Motion seconded by Deputy Mayor Pro Tem Miller. Motion approved 6-0.
Minutes
Regular Meeting of the Prosper Town Council
Prosper Municipal Chambers
108 W. Broadway, Prosper, Texas
Tuesday, April 24, 2012
Council Meeting
6:00 p.m.
Page 2 of 4
5. CITIZEN’S COMMENT
(The public is invited to address the Council on any topic. However, the Council is unable to discuss
or take action on any topic not listed on this agenda. Please complete a “Public Comments Form” and
present it to the Town Secretary prior to the meeting.)
Other Comments by the Public-
Catherine Nordon spoke regarding a Bullying article she wrote for the Prosper Press. Ms. Nordon
explained that bullying is an issue in schools, giving examples of families that have been directly
affected by bullying, and noted that her goal is to make everyone aware of the issue.
REGULAR AGENDA
(If you wish to address the Council during the regular agenda portion of the meeting, please fill out a
“Speaker Request Form” and present it to the Town Secretary prior to the meeting. Citizens wishing
to address the Council for items listed as public hearings will be recognized by the Mayor.
Those wishing to speak on a non-public hearing related item will be recognized on a case-by-case
basis, at the discretion of the Mayor and Town Council.)
PUBLIC HEARING
6. A public hearing to consider and act upon a request to rezone 1.4± acres, located on the west side of
Preston Road, 1,600± feet south of Prosper Trail (787 N. Preston Road), from Commercial (C) to
Planned Development-Retail (PD-R). (Z12-0003). Planning Director Chris Copple briefed Council
regarding this item. Mr. Copple noted that the Planning and Zoning Commission recommended
approving the request with two stipulations: 1) Automobile repair uses shall not be permitted to
operate on Sunday, and 2) Automobile paid parking lot or garage, recycling collection point, private
club, and Laundromat shall be removed from the list of permitted uses. The applicant has revised
Exhibit C to reflect these changes.
Mayor Pro Tem Dugger made a motion to open the public hearing. Motion seconded by Council
Member Wilson. Motion approved by vote 6-0.
The following citizens were present in support and/or opposition to the case:
Jack Dixon, spoke in opposition to the proposed zoning case expressing his concerns of having a
collision auto repair which he considered an eye sore so close to residential homes. He also had
concerns with EPA regulations, environmental issues, and outdoor storage of vehicles.
Irwin Parry, spoke in opposition, stating in his opinion auto repair use doesn’t fit with the Town’s
long term vision.
Marco Orendain, spoke in opposition with concerns regarding environmental issues, EPA standards,
storage of chemicals, substandard building issues, sanitary sewer, screening, tow truck traffic, noise
and noted he feels the use doesn’t fit the location.
Kelly Cooper, spoke in opposition of the zoning case stating in her opinion the affects would be more
negative than positive with auto repair use at this location.
Page 3 of 4
Deputy Mayor Pro Tem Dugger made a motion to close the public hearing. Motion seconded by
Council Member Wilson. Motion approved by vote of 6-0.
Council discussed height limitations, noise issues, number of bays, signage and commercial use
verses non commercial uses.
Owner and applicant Issa Bouert briefed Council regarding his project. He noted that he has a Good
Year facility located in Allen, TX and he plans to maintain the property and will bring it up to code
and work with the Town to improve the property. He assured citizens and council that noise will not
be an issue, hours of operation will be 7a.m. to 7p.m. and closed on Sundays. Mr. Bouert explained
all Town requirements and EPA regulations would be met and noted he plans to install a fire
sprinkler system in order to bring the site into compliance.
Deputy Mayor Pro Tem Miller made a motion to approve a request to rezone 1.4± acres, located on
the west side of Preston Road, 1,600± feet south of Prosper Trail (787 N. Preston Road), from
Commercial (C) to Planned Development-Retail (PD-R). (Z12-0003). Motion seconded by Mayor
Pro Tem Dugger. Motion approved by vote of 5-1, Council Member Wilson voting in opposition.
DEPARTMENT RELATED ITEM
7. Presentation, discussion and possible direction regarding a proposed Adult Day Care Facility for
Prosper, Texas. Town Manager Mike Land introduced Michael Beaty who is proposing the project.
Mr. Beaty explained that this project is a non profit 501c3 for the purposes of owning and operating
an adult day care facility. He explained there is a need for full time live in caregivers in the Prosper
area. Mr. Beaty noted that this project would be funded through the USDA, however; the Town is
being requested to form a 501c3 Corporation and appoint the Board of Directors. He noted that these
are the requirements in order to qualify for the USDA funding. Mr. Beaty explained that the use and
location would require a Specific Use Permit, a site plan and public hearings would be presented to
the Planning and Zoning Commission and Town Council. Mr. Beaty explained that no funding
would be requested from the Town.
Ann Lieber and Kelly Cooper did not wish to speak on this item but filled out a speaker request form
in opposition to the case.
Council discussed types of funding and had concerns with possible Town liabilities. Council asked
that the Town’s attorney review the possibilities of any liability issues and asked the applicant to
provide more funding information indicating the type of loan and how it works.
8. Discuss Capital Improvement Projects and related Debt Financing options and give staff direction on
posting Notice of Intent to issue Certificate of Obligation Bonds in addition to preparing to issue
General Obligation Bonds. Town Manager Mike Land briefed Council regarding the capital
improvement project debt financing options.
At the conclusion of the presentation and after discussion Council advised staff to prepare the
necessary documentation to issue $5.5 million in General Obligation debt for roads and park
acquisition, and $10,680,000 in Certificates of Obligation for drainage, water utility improvements
and equipment purchases for consideration on May 8, 2012.
Mayor Pro Tem Dugger made a motion to recess into Executive Session at 7:34 p.m. Deputy Mayor
Pro Tem Miller seconded the motion. Motion approved by vote of 6-0.
Page 4 of 4
9. EXECUTIVE SESSION
Recess into Closed Session in compliance with Section 551.001 et. seq. Texas Government Code, as
authorized by the Texas Open Meetings Act deliberate regarding;
9a. Section 551.072. To deliberate the purchase, exchange, lease or value of real property located
south of Prosper Trail, east of the BNSF railroad, west of Custer, and north of Highway 380.
9b. To reconvene in Regular Session and take any action necessary as a result of the Closed
Session.
Mayor Pro Tem Dugger reconvened into open session at 8:25 p.m. Motion seconded by Mayor
Smith. Motion approved by vote of 6-0.
No action was taken as a result of closed session.
10. Possibly direct Town Staff to schedule topic(s) for discussion at a future meeting. No action was
taken on this item.
11. Adjourn- Mayor Pro Tem Dugger made a motion to adjourn. Motion seconded by Council Member
Wilson. Motion approved by vote of 6-0.
Meeting adjourned at 8:26 p.m.
APPROVED:
___________________________________
Ray Smith, Mayor
ATTEST:
_______________________________
Amy M. Piukana, TRMC
Town Secretary
To: Mayor and Town Council
From: Chris Copple, AICP, Planning Director
Cc: Mike Land, Town Manager
Hulon T. Webb, Jr., P.E., Director of Development Services/Town Engineer
Re: Town Council Meeting – May 8, 2012
Date: May 3, 2012
Agenda Item:
Consider and act upon an ordinance rezoning 1.4± acres, located on the west side of Preston
Road, 1,600± feet south of Prosper Trail (787 N. Preston Road), from Commercial (C) to Planned
Development-Retail (PD-R). (Z12-0003).
Description of Agenda Item:
On April 24, 2012, the Town Council approved zoning case Z12-0003, by a vote of 5-1. Town staff
has prepared an ordinance rezoning the property.
Budget Impact:
There are no significant budget implications associated with the approval of this zoning request.
Legal Obligations and Review:
Zoning Ordinance 05-20 requires that the Town Council hold a public hearing before approving a
zoning request and adopting an ordinance rezoning property. A public hearing has been held and
the Town Council approved the zoning case. The ordinance has been prepared. Review of the
ordinance by the Town Attorney is not required.
Attached Documents:
1. The ordinance rezoning the property is attached.
Town Staff Recommendation:
Town staff recommends the Town Council adopt the attached ordinance, rezoning 1.4± acres,
located on the west side of Preston Road, 1,600± feet south of Prosper Trail (787 N. Preston
Road), from Commercial (C) to Planned Development-Retail (PD-R).
Prosper is a place where everyone matters.
PLANNING
TOWN OF PROSPER, TEXAS ORDINANCE NO. 12-12
AN ORDINANCE AMENDING PROSPER’S ZONING ORDINANCE NO. 05-20
AND ORDINANCE NO. 96-22; REZONING A TRACT OF LAND CONSISTING
OF 1.441 ACRES, MORE OR LESS, SITUATED IN THE JOHN R. TUNNEY
SURVEY, ABSTRACT NO. 916, IN THE TOWN OF PROSPER, COLLIN
COUNTY, TEXAS, HERETOFORE ZONED COMMERCIAL (C) IS HEREBY
REZONED AND PLACED IN THE ZONING CLASSIFICATION OF PLANNED
DEVELOPMENT-RETAIL (PD-R); DESCRIBING THE TRACT TO BE
REZONED; PROVIDING FOR A PENALTY FOR THE VIOLATION OF THIS
ORDINANCE; PROVIDING FOR REPEALING, SAVING AND SEVERABILITY
CLAUSES; PROVIDING FOR AN EFFECTIVE DATE OF THIS ORDINANCE;
AND PROVIDING FOR THE PUBLICATION OF THE CAPTION HEREOF.
WHEREAS, the Town Council of the Town of Prosper, Texas (the “Town Council”) has
investigated and determined that Zoning Ordinance No. 05-20 and Ordinance No. 96-22 should be
amended; and
WHEREAS, the Town of Prosper, Texas (“Prosper”) has received a request from Lord Ganesh,
Inc. (“Applicant”) to rezone 1.441 acres of land, more or less, situated in the John R. Tunney Survey,
Abstract No. 916 (Boueri Addition, Block A, Lot 1), in the Town of Prosper, Collin County, Texas; and
WHEREAS, the Town Council has investigated into and determined that the facts contained in
the request are true and correct; and
WHEREAS, all legal notices required for rezoning have been given in the manner and form set
forth by law, and public hearings have been held on the proposed rezoning and all other requirements of
notice and completion of such zoning procedures have been fulfilled; and
WHEREAS, the Town Council has further investigated into and determined that it will be
advantageous and beneficial to Prosper and its inhabitants to rezone this property as set forth below.
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF
PROSPER, TEXAS:
SECTION 1: Findings Incorporated. The findings set forth above are incorporated into the body
of this Ordinance as if fully set forth herein.
SECTION 2: Amendments to Zoning Ordinance No. 05-20 and Ordinance No. 96-22. Zoning
Ordinance No. 05-20 and Ordinance No. 96-22 is amended as follows: The zoning designation of the
below-described property containing 1.441 acres of land, more or less, situated in the John R. Tunney
Survey, Abstract No. 916 (Boueri Addition, Block A, Lot 1), in the Town of Prosper, Collin County,
Texas, (the “Property”) and all streets, roads and alleyways contiguous and/or adjacent thereto is hereby
rezoned as Planned Development-Retail (PD-R). The property as a whole and the boundaries for each
zoning classification are more particularly described in Exhibit “A” attached hereto and incorporated
herein for all purposes as if set forth verbatim.
The development plans, standards, and uses for the Property in this Planned Development District
shall conform to, and comply with 1) the statement of intent and purpose, attached hereto as Exhibit “B”;
2) the planned development standards, attached hereto as Exhibit “C”; 3) the concept plan, attached
hereto as Exhibit “D”; 4) the development schedule, attached hereto as Exhibit “E”, 5) and the conceptual
elevations, attached hereto as Exhibit “F” which are incorporated herein for all purposes as if set forth
verbatim. Except as amended by this Ordinance, the development of the Property within this Planned
Development District must comply with the requirements of all ordinances, rules, and regulations of
Prosper, as they currently exist or may be amended.
Three original, official and identical copies of the zoning exhibit map are hereby adopted and
shall be filed and maintained as follows:
a. Two (2) copies shall be filed with the Town Secretary and retained as original records and
shall not be changed in any matter.
b. One (1) copy shall be filed with the Building Official and shall be maintained up-to-date by
posting thereon all changes and subsequent amendments for observation, issuing building
permits, certificates of compliance and occupancy and enforcing the Zoning Ordinance.
Reproduction for information purposes may from time-to-time be made of the official zoning
district map.
Written notice of any amendment to this Planned Development District shall be sent to all
property owners within two hundred feet (200’) of the specific area to be amended.
SECTION 3: No Vested Interest/Repeal. No developer or property owner shall acquire any vested
interest in this Ordinance or in any other specific regulations contained herein. Any portion of this
Ordinance may be repealed by the Town Council in the manner provided for by law.
SECTION 4: Unlawful Use of Premises. It shall be unlawful for any person, firm or corporation
to make use of said premises in some manner other than as authorized by this Ordinance, and shall be
unlawful for any person, firm or corporation to construct on said premises any building that is not in
conformity with the permissible uses under this Zoning Ordinance.
SECTION 5: Penalty. Any person, firm, corporation or business entity violating this Ordinance or
any provision of Prosper’s Zoning Ordinance No. 05-20, or as amended, shall be deemed guilty of a
misdemeanor, and upon conviction thereof shall be fined any sum not exceeding Two Thousand Dollars
($2,000.00). Each continuing day’s violation under this Ordinance shall constitute a separate offense.
The penal provisions imposed under this Ordinance shall not preclude Prosper from filing suit to enjoin
the violation. Prosper retains all legal rights and remedies available to it pursuant to local, state and
federal law.
SECTION 6: Severability. Should any section, subsection, sentence, clause or phrase of this
Ordinance be declared unconstitutional or invalid by a court of competent jurisdiction, it is expressly
provided that any and all remaining portions of this Ordinance shall remain in full force and effect.
Prosper hereby declares that it would have passed this Ordinance, and each section, subsection, clause or
phrase thereof irrespective of the fact that any one or more sections, subsections, sentences, clauses and
phrases be declared unconstitutional or invalid.
SECTION 7: Savings/Repealing Clause. Prosper’s Zoning Ordinance No. 05-20 shall remain in
full force and effect, save and except as amended by this or any other Ordinance. All provisions of any
ordinance in conflict with this Ordinance are hereby repealed to the extent they are in conflict; but such
repeal shall not abate any pending prosecution for violation of the repealed ordinance, nor shall the appeal
prevent a prosecution from being commenced for any violation if occurring prior to the repealing of the
ordinance. Any remaining portions of said ordinances shall remain in full force and effect.
SECTION 8: Effective Date. This Ordinance shall become effective from and after its adoption
and publications as required by law.
DULY PASSED AND APPROVED BY THE TOWN COUNCIL OF THE TOWN OF
PROSPER, TEXAS ON THIS 8th DAY OF MAY, 2012.
APPROVED AS TO FORM:
______________________________
Ray Smith, Mayor
ATTESTED TO AND
CORRECTLY RECORDED BY:
____________________________
Amy Piukana, Town Secretary
DATE OF PUBLICATION: ____________________________, Prosper Press
EXHIBIT “B”
STATEMENT OF INTENT & PURPOSE
BUMPER TO BUMPER AUTO SERVICE
Prosper, Texas
Intent
It is our intention to show the improvements we have planned for the exterior of
the building, show the living screen we will provide along the western and
northern boundaries, and request the ability to use the entire building as a major
automotive repair use. We ensure that no bay doors will face residential areas.
We are requesting to rezone the property from Commercial (C) to Planned
Development-Retail (PD-R).
Purpose
The services provided by Bumper to Bumper Auto Service include: Tire
Service, Auto Collision Service, and Transmission and Engine Repair.
The purpose of this development is to provide the best possible automobile
repair service to the citizen. Face lifting of the building, landscaping, and other
related improvements will enhance the appearance of the surrounding
neighborhood. This development will generate revenue for the town and will be
a part of the current and future economic growth of Prosper.
EXHIBIT “C”
PLANNED DEVELOPMENT STANDARDS
BUMPER TO BUMPER AUTO SERVICE
Prosper, Texas
The tract shall develop under the regulations of the Retail (R) District as
outlined in the Town’s Zoning Ordinance No. 05-20, as it exists or may be
amended, with the following conditions:
1.0 Permitted Uses
1.1 The land uses followed with an “S” are only permitted with a
Specific Use Permit and uses followed by a “C” are only permitted
subject to the conditional development standards set forth in the
Town’s Zoning Ordinance. The permitted land uses within this
Planned Development-Retail District are as follows:
• Administrative, Medical, or Professional Office
• Antenna and/or Antenna Support Structure, Non-Commercial C
• Antique Shop and Used Furniture
• Artisan’s Workshop
• Auto Parts Sales, Inside
• Automobile Repair, Minor, subject to development standards
below in 2.0
• Automobile Repair, Major, subject to development standards
below in 2.0
• Bank, Savings and Loan, or Credit Union
• Beauty Salon/Barber Shop
• Bed and Breakfast Inn
• Beer & Wine Package Sales C
• Building Material and Hardware Sales, Minor
• Business Service
• Civic/Convention Center
• Convenience Store without Gas Pumps
• Dry Cleaning, Minor
• Equipment and Machinery Sales and Rental, Minor
• Farmer’s Market
• Feed Store
• Fraternal Organization, Lodge, Civic Club, Fraternity, or Sorority
• Furniture, Home Furnishings and Appliance Store
• Governmental Office
• Gunsmith
• Gymnastics/Dance Studio
• Health/Fitness Center
• Homebuilding Market Center
• House of Worship
• Household Appliance Service and Repair
• Insurance Office
• Locksmith/Security System Company
• Massage Therapy, Licensed
• Mobile Food Vendor C
• Municipal Uses Operated by the Town of Prosper
• Museum/Art Gallery
• Nursery, Minor
• Park of Playground
• Pet Day Care C
• Print Shop, Minor
• Private Recreation Center
• Private Utility, other than Listed
• Restaurant, Drive In
• Retail Stores and Shops
• Retail/Service Incidental Use
• School, Private or Parochial
• School, Public
• Small Engine Repair Shop
• Stealth Antenna, Commercial C
• Telephone Exchange
• Temporary Building C
• Theater, Neighborhood
• Veterinarian Clinic and/or Kennel, Indoor
2.0 Development Standards for Automobile Repair Uses
2.1 All buildings, gasoline pump islands, vacuums, outdoor speakers,
gasoline or fuel storage tanks, air and water dispensers, and other
structures in conjunction with any automotive use shall be located a
minimum of one hundred fifty (150) feet from the western property
line, as shown on Exhibit D. No service bay shall face a residential
zoning district. An automotive use shall be defined as the sales,
leasing, renting, servicing, repair, or washing of automobiles, boats,
motorcycles, trucks, or any other motor vehicle.
2.2 Daily operation of any automobile repair use shall begin no earlier than
7:00 a.m. and cease no later than 7:00 p.m. An automobile repair use
is not permitted to operate on Sunday.
3.0 Land Use Screening Standards
3.1 In place of a masonry wall along the western and northern property
boundaries, a solid evergreen living screen shall be planted as shown
on Exhibit D. The solid evergreen living screen shall contain a
minimum of 4” caliper eastern red cedars spaced on 10 foot centers, 6
feet at the time of planting, in addition to the existing large trees.
4. 0 Exterior Building Material Standards
4.1 The existing façade shall be improved to include a masonry façade on
the east and south elevations as conceptually shown on Exhibit F.
Exhibit F shows architectural elements on the east and south elevation,
where the building is clearly visible from Preston Road. Exhibit F
shows the existing cementitious fiber board siding on the west and
north elevations to be painted to match the brick veneer. All façade
improvements shall be completed prior to Town issuance of a
Certificate of Occupancy.
EXHIBIT “E”
DEVELOPMENT SCHEDULE
BUMPER TO BUMPER AUTO SERVICE
Prosper, Texas
Following Town approval and receipt of a building permit, it is estimated that
the construction of Bumper to Bumper Auto Service will be completed within
twelve months or less.
"A PLACE WHERE EVERYONE MATTERS"
Investment Portfolio Summary
For the Quarter Ended
March 31, 2012
Prepared By
Lori Heikkinen
Accounting Manager
Town of Prosper
This report is prepared for the Town of Prosper ("Town") in accordance with Chapter 2256 of the Public Investment Act ("PFIA"), Section
2256.023(a). 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 Town's Investment Officers and includes the disclosures required in the PFIA. Market values were obtained
from TexPool, TexStar, and Independent Bank statements.
The investment portfolio complied with the PFIA and the Town'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 Town and were made in full compliance
with the PFIA and the Town's approved Investment Policy.
March 31, 2012
Town of Prosper
Quarterly Investment Report
Investment Officers' Certification
For the Quarter Ended
This report is prepared for the Town of Prosper ("Town") in accordance with the Town's Investment Policy and reporting requirements.
In accordance with the Investment Policy, the Town's Investment Officer shall prepare and submit to the governing body of the entity
a written report of the investment transactions for all funds.
For the quarter ending March 31, 2012, the Town has twenty-eight (28) accounts with a total market value of $36,055,321.84
and total interest earned on these accounts for the quarter is $53,532.53. The Town has five (5) Certificate of Deposit accounts
totaling $6.8 million dollars with maturity dates ranging from twelve (12) months to twenty-four (24) months.
The distribution of these funds are as follows:
General Fund - Par value and market value of $7,924,376.63.
Water Sewer Fund - Par value and market value of $7,773,197.45.
I & S Fund - Par value and market value of $1,761,137.95.
Internal Service Fund - Par value and market value of $84,423.53
Storm Drainage Fund - Par value and market value of $207,671.48.
Parks Fund - Par value and market value of $1,654,003.13.
Impact Fees Fund - Par value and market value of $7,203,599.21.
Special Revenue Fund - Par value and market value of $2,334,592.77.
Capital Projects Fund - Par value and market value of $7,092,319.69.
The Certificates of Deposits are listed below with maturity date and percent of interest:
The twelve (12) month certificate has a maturity date of June 10, 2012 earning 0.85% interest.
The eighteen (18) month certificates have maturity dates of December 10, 2012 and June 12, 2013 earning 1.20% and 1.15% interest.
The twenty-four (24) month certificates have maturity dates of June 10, 2013 and December 10, 2013 earning 1.40% and 1.34% interest.
The Economic Development Corporation has accounts with total par and market value of $2,005,683.40 and interest earnings
for the quarter were $5,751.99. EDC had $128,957.66 in additions and $29,065.65 in withdrawals for the quarter.
The composition, by security types, for these funds is 29% Government Pools, 53% Local Bank deposits and 18% in certificates
of deposit. This consists of : 22% is in TexStar, 7% in TexPool, 53% in the local bank and 18% certificates of deposit. TexStar
and TexPool are Texas Local Government Investment Pools and the certificates are with the Collin Bank at Frisco, Texas.
The change in value from January 1, 2012 through March 31, 2012 for The Town of Prosper funds is $18,437,023.63 in additions and
$15,841,410.33 in withdrawals. The breakdown per fund can be found on the CHANGE IN VALUE sheet of the portfolio.
The investment portfolio complied with the PFIA and the Town'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 Town and were made in full compliance
with the PFIA and the Town's approved Investment Policy.
The U.S. Treasury yield curve is presented on a graph to serve as a benchmark comparison.
Town of Prosper
Quarterly Investment Report
Summary Information
For the Quarter Ended
March 31, 2012
Town of Prosper
Portfolio Composition
March 31, 2012
Bank Deposits
20,182,245
53%
Gov't Pools
11,025,027
29%
CD's
6,800,756
18%
Portfolio Composition by Security Types
Bank
20,182,245
53% TexPool
2,500,840
7%
TexStar
8,524,187
22%
CD's
6,800,756
18%
Portfolio Composition By Issuer
Town of Prosper
Par Value 36,055,321.84
Market Value 36,055,321.84
Adjusted Cost
Net Gain/Loss
Annual Income
Prosper Economic Development
Par Value 2,005,683.40
Market Value 2,005,683.40
Adjusted Cost
Net Gain/Loss
Annual Income
Combined Totals
Par Value 38,061,005.24
Market Value 38,061,005.24
Adjusted Cost
Net Gain/Loss
Annual Income
Town of Prosper
FIXED INCOME DISTRIBUTION
March 31, 2012
Summary Information
Totals
Security Security Purchase Purchase Book Market Market Days to
Description CUSIP Institution Par Value Price Cost Value Price Value Maturity Yield
General Fund
Bank - Payroll Independent Bank 8,220.80 100.00 8,220.80 8,220.80 100.00 8,220.80 1 1.1600%
Bank - Operating Independent Bank 5,479,659.64 100.00 5,479,659.64 5,479,659.64 100.00 5,479,659.64 1 1.1600%
TexPool TexPool 84,087.52 100.00 84,087.52 84,087.52 100.00 84,087.52 1 0.0793%
TexSTAR TexSTAR 328,979.04 100.00 328,979.04 328,979.04 100.00 328,979.04 1 0.1148%
Bank - FSA Independent Bank 9,634.28 100.00 9,634.28 9,634.28 100.00 9,634.28 1 1.1600%
Bank - State Fines Independent Bank 12,479.24 100.00 12,479.24 12,479.24 100.00 12,479.24 1 1.1600%
Bank - Clearing Account Independent Bank 0.01 100.00 0.01 0.01 100.00 0.01 1 0.0000%
MXSourceCredit Card MX Account 1,316.10 100.00 1,316.10 1,316.10 100.00 1,316.10 1 0.0000%
Certificate of Deposit 24 mos Collin Bank 1,000,000.00 100.00 1,000,000.00 1,000,000.00 100.00 1,000,000.00 436 1.4000%
Certificate of Deposit 18 mos Collin Bank 1,000,000.00 100.00 1,000,000.00 1,000,000.00 100.00 1,000,000.00 254 1.2000%
7,924,376.63 100.00 7,924,376.63 7,924,376.63 100.00 7,924,376.63
Water/Sewer Fund
Bank - Operating Independent Bank 3,198,168.23 100.00 3,198,168.23 3,198,168.23 100.00 3,198,168.23 1 1.1600%
Bank - Operating Prosper Bank 69,568.49 100.00 69,568.49 69,568.49 100.00 69,568.49 1 0.1000%
TexPool TexPool 4,704.57 100.00 4,704.57 4,704.57 100.00 4,704.57 1 0.0793%
Certificate of Deposit 12 mos Collin Bank 500,756.16 100.00 500,756.16 500,756.16 100.00 500,756.16 71 0.8500%
Certificate of Deposit 18 mos Collin Bank 1,500,000.00 100.00 1,500,000.00 1,500,000.00 100.00 1,500,000.00 254 1.2000%
Certificate of Deposit 24 mos Collin Bank 1,500,000.00 100.00 1,500,000.00 1,500,000.00 100.00 1,500,000.00 436 1.4000%
Certificate of Deposit 24 mos Collin Bank 1,000,000.00 100.00 1,000,000.00 1,000,000.00 100.00 1,000,000.00 619 1.3400%
7,773,197.45 100.00 7,773,197.45 7,773,197.45 100.00 7,773,197.45
Interest & Sinking Fund
Bank - Debt Payments Independent Bank 1,423,566.23 100.00 1,423,566.23 1,423,566.23 100.00 1,423,566.23 1 1.1600%
TexPool TexPool 37,571.72 100.00 37,571.72 37,571.72 100.00 37,571.72 1 0.0793%
Certificate of Deposit 12 mos Collin Bank 100,000.00 100.00 100,000.00 100,000.00 100.00 100,000.00 71 0.8500%
Certificate of Deposit 18 mos Collin Bank 100,000.00 100.00 100,000.00 100,000.00 100.00 100,000.00 254 1.2000%
Certificate of Deposit 18 mos Collin Bank 100,000.00 100.00 100,000.00 100,000.00 100.00 100,000.00 436 1.1500%
1,761,137.95 100.00 1,761,137.95 1,761,137.95 100.00 1,761,137.95
Internal Service Fund
Bank-Internal Service Fund Independent Bank 84,423.53 100.00 84,423.53 84,423.53 100.00 84,423.53 1 1.1600%
Storm Drainage Fund
Bank - Operating Independent Bank 207,671.48 100.00 207,671.48 207,671.48 100.00 207,671.48 1 1.1600%
Parks Fund
Bank - Parks Dedication Independent Bank 279,468.11 100.00 279,468.11 279,468.11 100.00 279,468.11 1 1.1600%
Bank - Parks Improvement Independent Bank 156,859.17 100.00 156,859.17 156,859.17 100.00 156,859.17 1 1.1600%
TexSTAR -Park Dedication TexStar 849,197.88 100.00 849,197.88 849,197.88 100.00 849,197.88 1 0.1148%
TexSTAR - Park Improvement TexStar 388,477.97 100.00 388,477.97 388,477.97 100.00 388,477.97 1 0.1148%
1,674,003.13 100.00 1,674,003.13 1,674,003.13 100.00 1,674,003.13
Impact Fees Fund
Bank - Operating(Thoroughfare)Independent Bank 1,845,872.61 100.00 1,845,872.61 1,845,872.61 100.00 1,845,872.61 1 1.1600%
Bank - Operating(Water)Independent Bank 319,961.98 100.00 319,961.98 319,961.98 100.00 319,961.98 1 1.1600%
Bank - Operating(Water)Independent Bank 297,161.50 100.00 297,161.50 297,161.50 100.00 297,161.50 1 1.1600%
Bank - Operating(W Thoroughfare)Independent Bank 52,977.16 100.00 52,977.16 52,977.16 100.00 52,977.16 1 1.1600%
TexPool - Operating(Thoroughfare)TexPool 674,654.86 100.00 674,654.86 674,654.86 100.00 674,654.86 1 0.0793%
TexPool - Operating(Water)TexPool 849,789.19 100.00 849,789.19 849,789.19 100.00 849,789.19 1 0.0793%
TexPool - Operating(Sewer)TexPool 682,920.08 100.00 682,920.08 682,920.08 100.00 682,920.08 1 0.0793%
TexStar - Operating(Thoroughfare)TexStar 1,180,567.11 100.00 1,180,567.11 1,180,567.11 100.00 1,180,567.11 1 0.1148%
TexStar - Operating(Water)TexStar 994,649.15 100.00 994,649.15 994,649.15 100.00 994,649.15 1 0.1148%
TexStar - Operating(Sewer)TexStar 305,045.57 100.00 305,045.57 305,045.57 100.00 305,045.57 1 0.1148%
7,203,599.21 100.00 7,203,599.21 7,203,599.21 100.00 7,203,599.21
Town of Prosper
DETAIL OF SECURITY HOLDINGS
As of March 31, 2012
Security Security Purchase Purchase Book Market Market Days to
Description CUSIP Institution Par Value Price Cost Value Price Value Maturity Yield
Town of Prosper
DETAIL OF SECURITY HOLDINGS
As of March 31, 2012
Special Revenue Fund
Bank - Escrow Independent Bank 1,362,906.47 100.00 1,362,906.47 1,362,906.47 100.00 1,362,906.47 1 1.1600%
TexStar TexStar 971,686.30 100.00 971,686.30 971,686.30 100.00 971,686.30 1 0.1148%
2,334,592.77 100.00 2,334,592.77 2,334,592.77 100.00 2,334,592.77
Capital Projects Fund
Bank - 2004 Bond Independent Bank 257,905.56 100.00 257,905.56 257,905.56 100.00 257,905.56 1 1.1600%
TexPool - 2004 Bond TexPool 165,788.52 100.00 165,788.52 165,788.52 100.00 165,788.52 1 0.0793%
TexStar - 2006 Bond TexStar 881,125.91 100.00 881,125.91 881,125.91 100.00 881,125.91 1 0.1148%
TexStar - 2008 Bond TexStar 2,623,269.64 100.00 2,623,269.64 2,623,269.64 100.00 2,623,269.64 1 0.1148%
Bank - 2008 Bond Independent Bank 2,938,545.05 100.00 2,938,545.05 2,938,545.05 100.00 2,938,545.05 1 1.1600%
Bank - 2010 Tax Note Independent Bank 34,690.77 100.00 34,690.77 34,690.77 100.00 34,690.77 1 1.1600%
Bank - 2011 Refind Bond Independent Bank 190,994.24 100.00 190,994.24 190,994.24 100.00 190,994.24 1 1.1600%
7,092,319.69 100.00 7,092,319.69 7,092,319.69 100.00 7,092,319.69
TOTAL TOWN OF PROSPER 36,055,321.84 100.00 36,055,321.84 36,055,321.84 100.00 36,055,321.84
Economic Development
Bank - Operating (EDC)Independent Bank 2,003,171.66 100.00 2,003,171.66 2,003,171.66 100.00 2,003,171.66 1 1.1600%
TexPool - EDC TexPool 1,323.37 100.00 1,323.37 1,323.37 100.00 1,323.37 1 0.0793%
TexStar - EDC TexStar 1,188.37 100.00 1,188.37 1,188.37 100.00 1,188.37 1 0.1148%
TOTAL EDC 2,005,683.40 100.00 2,005,683.40 2,005,683.40 100.00 2,005,683.40
- - - - - -
TOTAL TOWN OF PROSPER & EDC 38,061,005.24 38,061,005.24 38,061,005.24 38,061,005.24
Security Maturity 12/31/11 12/31/11 Additions Interest Accrued 03/31/12 03/31/12
Description CUSIP Institution Date Book Value Market Value Purchases Withdrawal Received Interest Book Value Market Value Yield
General Fund
Bank - Payroll Independent Bank 12,628.92 12,628.92 743,165.38 747,672.86 99.36 - 8,220.80 8,220.80 1.1600%
Bank - Operating Independent Bank 3,771,291.92 3,771,291.92 11,829,483.57 10,139,602.51 18,486.66 - 5,479,659.64 5,479,659.64 1.1600%
TexPool TexPool 84,066.40 84,066.40 - - 21.12 - 84,087.52 84,087.52 0.0793%
TexSTAR TexSTAR 309,202.49 309,202.49 19,693.81 - 82.74 - 328,979.04 328,979.04 0.1148%
Bank - FSA Independent Bank 13,559.11 13,559.11 14,552.67 18,509.34 31.84 - 9,634.28 9,634.28 1.1600%
Bank - State Fines Independent Bank 9,424.50 9,424.50 23,025.22 20,000.00 29.52 - 12,479.24 12,479.24 1.1600%
Bank - Clearing Account Independent Bank 0.01 0.01 32,293.46 32,293.46 - - 0.01 0.01 0.0000%
MXSourceCredit Card MX Account 2,994.72 2,994.72 4,000.00 5,678.62 - - 1,316.10 1,316.10 0.0000%
Certificate of Deposit 24 mos Collin Bank 6/10/2013 1,000,000.00 1,000,000.00 - - - - 1,000,000.00 1,000,000.00 1.4000%
Certificate of Deposit 18 mos Collin Bank 12/10/2013 1,000,000.00 1,000,000.00 - - - - 1,000,000.00 1,000,000.00 1.2000%
6,203,168.07 6,203,168.07 12,666,214.11 10,963,756.79 18,751.24 - 7,924,376.63 7,924,376.63
Water/Sewer Fund
Bank - Operating Independent Bank 3,450,012.75 3,450,012.75 1,411,618.25 1,672,859.28 9,396.51 - 3,198,168.23 3,198,168.23 1.1600%
Bank - Operating Prosper Bank 61,632.29 61,632.29 7,920.40 - 15.80 - 69,568.49 69,568.49 0.1000%
TexPool TexPool 4,703.44 4,703.44 - - 1.13 - 4,704.57 4,704.57 0.0793%
Certificate of Deposit 12 mos Collin Bank 6/10/2012 500,756.16 500,756.16 - - - - 500,756.16 500,756.16 0.8500%
Certificate of Deposit 18 mos Collin Bank 12/10/2013 1,500,000.00 1,500,000.00 - - - - 1,500,000.00 1,500,000.00 1.2000%
Certificate of Deposit 24 mos Collin Bank 6/10/2013 1,500,000.00 1,500,000.00 - - - - 1,500,000.00 1,500,000.00 1.4000%
Certificate of Deposit 24 mos Collin Bank 12/12/2013 1,000,000.00 1,000,000.00 - - - - 1,000,000.00 1,000,000.00 1.3400%
8,017,104.64 8,017,104.64 1,419,538.65 1,672,859.28 9,413.44 - 7,773,197.45 7,773,197.45
Interest & Sinking Fund
Bank - Debt Payments Independent Bank 1,372,302.28 1,372,302.28 1,467,308.35 1,420,604.24 4,559.84 - 1,423,566.23 1,423,566.23 1.1600%
TexPool TexPool 37,562.55 37,562.55 - - 9.17 - 37,571.72 37,571.72 0.0793%
Certificate of Deposit 12 mos Collin Bank 6/10/2012 100,000.00 100,000.00 - - - - 100,000.00 100,000.00 0.8500%
Certificate of Deposit 18 mos Collin Bank 12/10/2013 100,000.00 100,000.00 - - - - 100,000.00 100,000.00 1.2000%
Certificate of Deposit 18 mos Collin Bank 6/12/2013 100,000.00 100,000.00 - - - - 100,000.00 100,000.00 1.1500%
1,709,864.83 1,709,864.83 1,467,308.35 1,420,604.24 4,569.01 - 1,761,137.95 1,761,137.95
Internal Service Fund
Bank-Internal Service Fund Independent Bank 77,950.50 77,950.50 9,180.00 2,941.20 234.23 - 84,423.53 84,423.53 1.1600%
Storm Drainage Fund
Bank - Operating Independent Bank 216,688.80 216,688.80 53,440.15 63,095.82 638.35 - 207,671.48 207,671.48 1.1600%
Parks Fund
Bank - Parks & Recreation Independent Bank 444,330.05 444,330.05 53,276.06 62,527.30 1,248.47 - 436,327.28 436,327.28 1.1600%
Bank - Parks & Recreation TexSTAR 1,237,363.63 1,237,363.63 - - 312.22 - 1,237,675.85 1,237,675.85 0.1148%
1,681,693.68 1,681,693.68 53,276.06 62,527.30 1,560.69 - 1,674,003.13 1,674,003.13
Impact Fees Fund
Bank - Operating(Impact Fees)Independent Bank 2,423,958.63 2,423,958.63 600,354.89 515,328.66 6,988.39 - 2,515,973.25 2,515,973.25 1.1600%
TexPool - Operating(Impact Fees)TexPool 2,206,826.94 2,206,826.94 - - 537.19 - 2,207,364.13 2,207,364.13 0.0793%
TexStar - Operating(Impact Fees)TexStar 2,479,635.89 2,479,635.89 - - 625.94 - 2,480,261.83 2,480,261.83 0.1148%
7,110,421.46 7,110,421.46 600,354.89 515,328.66 8,151.52 - 7,203,599.21 7,203,599.21
Special Revenue Fund
Bank - Escrow Independent Bank 1,464,947.37 1,464,947.37 2,063.22 108,230.75 4,126.63 - 1,362,906.47 1,362,906.47 1.1600%
Bank - Escrow TexSTAR 971,442.10 971,442.10 - - 244.20 - 971,686.30 971,686.30 0.1148%
2,436,389.47 2,436,389.47 2,063.22 108,230.75 4,370.83 - 2,334,592.77 2,334,592.77
Capital Projects Fund
Bank - 2004 Bond Independent Bank 257,167.52 257,167.52 - - 738.04 - 257,905.56 257,905.56 1.1600%
TexPool - 2004 Bond TexPool 165,748.16 165,748.16 - - 40.36 - 165,788.52 165,788.52 0.0793%
TexStar - 2006 Bond TexStar 900,595.90 900,595.90 - 19,693.81 223.82 - 881,125.91 881,125.91 0.1148%
TexStar - 2008 Bond TexStar 2,622,607.60 2,622,607.60 - - 662.04 - 2,623,269.64 2,623,269.64 0.1148%
Bank - 2008 Bond Independent Bank 1,630,017.93 1,630,017.93 2,145,837.42 840,843.42 3,533.12 - 2,938,545.05 2,938,545.05 1.1600%
Bank - 2010 Tax Note Independent Bank 55,926.62 55,926.62 10,985.51 32,221.36 - - 34,690.77 34,690.77
Bank - 2011 Refind Bond Independent Bank 320,830.83 320,830.83 8,825.27 139,307.70 645.84 - 190,994.24 190,994.24
5,952,894.56 5,952,894.56 2,165,648.20 1,032,066.29 5,843.22 - 7,092,319.69 7,092,319.69
TOTAL TOWN OF PROSPER 33,406,176.01 33,406,176.01 18,437,023.63 15,841,410.33 53,532.53 - 36,055,321.84 36,055,321.84
Town of Prosper
CHANGE IN VALUE
From 01/01/12 to 03/31/12
Security Maturity 12/31/11 12/31/11 Additions Interest Accrued 03/31/12 03/31/12
Description CUSIP Institution Date Book Value Market Value Purchases Withdrawal Received Interest Book Value Market Value Yield
Town of Prosper
CHANGE IN VALUE
From 01/01/12 to 03/31/12
Economic Development
Bank - Operating (EDC)Independent Bank 1,897,528.01 1,897,528.01 128,957.66 29,065.65 5,751.64 - 2,003,171.66 2,003,171.66 1.1600%
TexPool - EDC TexPool 1,323.32 1,323.32 - - 0.05 - 1,323.37 1,323.37 0.0793%
TexStar - EDC TexStar 1,188.07 1,188.07 - - 0.30 - 1,188.37 1,188.37 0.1148%
TOTAL EDC 1,900,039.40 1,900,039.40 128,957.66 29,065.65 5,751.99 - 2,005,683.40 2,005,683.40
TOTAL TOWN OF PROSPER & EDC 35,306,215.41 35,306,215.41 18,565,981.29 15,870,475.98 59,284.52 - 38,061,005.24 38,061,005.24
Ending Adjusted
Security Purchased Sold Interest Earned Accrued Accrued Earned
Description CUSIP Institution Interest Interest Received Interest Interest Interest Income Yield
General Fund
Bank - Payroll Independent Bank - - 99.36 99.36 - - 99.36 1.1600%
Bank - Operating Independent Bank - - 18,486.66 18,486.66 - - 18,486.66 1.1600%
TexPool TexPool - - 21.12 21.12 - - 21.12 0.0793%
TexSTAR TexSTAR - - 82.74 82.74 82.74 0.1148%
Bank - FSB Independent Bank 31.84 31.84 31.84 1.1600%
Bank - State Fines Independent Bank - - 29.52 29.52 - - 29.52 1.1600%
MXSourceCredit Card MX Account - - - - - - - 0.0000%
Certificate of Deposit 24 mos Collin Bank - - - - - - -
Certificate of Deposit 18 mos Collin Bank - - - - - - -
- - 18,751.24 18,751.24 - - 18,751.24
Water/Sewer Fund
Bank - Operating Independent Bank - - 9,396.51 9,396.51 - - 9,396.51 1.1600%
Bank - Operating Prosper Bank - - 15.80 15.80 - - 15.80 0.1000%
TexPool TexPool - - 1.13 1.13 - - 1.13 0.0793%
Certificate of Deposit 12 mos Collin Bank - - - - - - -
Certificate of Deposit 18 mos Collin Bank - - - - - - -
Certificate of Deposit 24 mos Collin Bank - - - - - - -
Certificate of Deposit 24 mos Collin Bank - - - - - - -
- - 9,413.44 9,413.44 - - 9,413.44
Interest & Sinking Fund
Bank - Debt Payments Independent Bank - - 4,559.84 4,559.84 - - 4,559.84 1.1600%
TexPool TexPool - - 9.17 9.17 - - 9.17 0.0793%
Certificate of Deposit 12 mos Collin Bank - - - - - - -
Certificate of Deposit 18 mos Collin Bank - - - - - - -
Certificate of Deposit 18 mos Collin Bank - - - - - - -
- - 4,569.01 4,569.01 - - 4,569.01
Internal Service Fund
Bank-Internal Service Fund Independent Bank - - 234.23 234.23 - - 234.23 1.1600%
Storm Drainage Fund
Bank - Operating Independent Bank - - 638.35 638.35 - - 638.35 1.1600%
Parks Fund
Bank - Parks & Recreation Independent Bank - - 1,248.47 1,248.47 - - 1,248.47 1.1600%
Bank - Parks & Recreation TexSTAR - - 312.22 312.22 - - 312.22 0.1148%
- - 1,560.69 1,560.69 - - 1,560.69
Impact Fees Fund
Bank - Operating(Impact Fees)Independent Bank - - 6,988.39 6,988.39 - - 6,988.39 1.1600%
TexPool - Operating(Impact Fees)TexPool - - 537.19 537.19 537.19 0.0793%
TexStar - Operating(Impact Fees)TexStar - - 625.94 625.94 - - 625.94 0.1148%
- - 8,151.52 8,151.52 - - 8,151.52
Special Revenue Fund
Bank - Escrow Independent Bank - - 4,126.63 4,126.63 - - 4,126.63 1.1600%
Bank - Escrow TexSTAR - - 244.20 244.20 - - 244.20 0.1148%
- - 4,370.83 4,370.83 - - 4,370.83
Capital Projects Fund
Bank - 2004 Bond Independent Bank - - 738.04 738.04 - - 738.04 1.1600%
TexPool - 2004 Bond TexPool - - 40.36 40.36 - - 40.36 0.0793%
TexStar - 2006 Bond TexStar - - 223.82 223.82 - - 223.82 0.1148%
TexStar - 2008 Bond TexStar - - 662.04 662.04 - - 662.04 0.1148%
Bank - 2008 Bond Independent Bank - - 3,533.12 3,533.12 - - 3,533.12 1.1600%
Bank - 2010 Tax Note Independent Bank - - - - - - -
Bank - 2011 Refund Bond Independent Bank - - 645.84 645.84 - - 645.84
- - 5,843.22 5,843.22 - - 5,843.22
TOTAL TOWN OF PROSPER - - 53,532.53 53,532.53 - - 53,532.53
Town of Prosper
EARNED INCOME
From 01/01/12 to 03/31/12
Ending Adjusted
Security Purchased Sold Interest Earned Accrued Accrued Earned
Description CUSIP Institution Interest Interest Received Interest Interest Interest Income Yield
Town of Prosper
EARNED INCOME
From 01/01/12 to 03/31/12
Economic Development
Bank - Operating (EDC)Independent Bank - - 5,751.64 5,751.64 5,751.64 1.1600%
TexPool - EDC TexPool - - 0.05 0.05 - - 0.05 0.0793%
TexStar - EDC TexStar - - 0.30 0.30 - - 0.30
TOTAL EDC - - 5,751.99 5,751.99 - - 5,751.99
TOTAL TOWN OF PROSPER & EDC - - 59,284.52 59,284.52 - - 59,284.52
U. S. Treasury Yield Curve as Benchmark
March 31, 2011 versus March 31, 2012
3 month 6 month 1 year 2 year 3 year 5 year 10 year 30 year
3/31/11 0.09% 0.17% 0.30% 0.80% 1.29% 2.24% 3.47% 4.34%
3/31/12 0.02% 0.06% 0.12% 0.25% 0.36% 0.83% 1.89% 2.89%
0.00%
1.00%
2.00%
3.00%
4.00%
5.00% Yield Maturity
3/31/11 3/31/12
Agenda Item No. __ - Page 1 of 1
To: Mayor and Town Council
From: Mike Land, Town Manager
Re: Town Council Meeting – May 8, 2012
Date: May 4, 2012
Agenda Item:
Consider and act upon a resolution authorizing the Town Manager to hire a Special Counselor
to handle any matters involving Deion and/or Pilar Sanders in Municipal Court, of Prosper Police
Officers and/or any other Police related matter which is the result of the criminal matters
pending or otherwise which relate to Deion and/or Pilar Sanders, as well as any other purposes
directed, and deemed necessary, by the Town Manager.
Description of Agenda Item:
This item formally accepts the hiring of Attorney Charlie Philips of Philips and Epperson to serve
as the Town’s Special Council in the above referenced matters.
Budget Impact:
The hourly rate for services rendered is $200 per hour for Mr. Philips.
Legal Obligations and Review:
The attached letter of engagement was provided by Mr. Philips.
Attached Documents:
1. Resolution authorizing the Town Manager to hire a Special Counselor to handle any
matters involving Deion and/or Pilar Sanders in Municipal Court, of Prosper Police
Officers and/or any other Police related matter which is the result of the criminal matters
pending or otherwise which relate to Deion and/or Pilar Sanders, as well as any other
purposes directed, and deemed necessary, by the Town Manager.
2. Letter of Engagement for the law firm of Philips and Epperson between it and the Town
of Prosper.
Town Staff Recommendation:
Town staff recommends the Town Council to approve said resolution authorizing the Town
Manager to hire a Special Counselor to handle any matters involving Deion and/or Pilar
Sanders in Municipal Court, of Prosper Police Officers and/or any other Police related matter
which is the result of the criminal matters pending or otherwise which relate to Deion and/or
Pilar Sanders, as well as any other purposes directed, and deemed necessary, by the Town
Manager.
Prosper is a place where everyone matters.
ADMINISTRATION
TOWN OF PROSPER, TEXAS RESOLUTION NO. 12-26
A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF
PROSPER, TEXAS, AUTHORIZING THE TOWN MANAGER TO ENTER
INTO AGREEMENT WITH PHILIPS AND EPPERSON LAW FIRM TO
HANDLE ANY MATTERS INVOLVING DEION AND/OR PILAR
SANDERS, AS WELL AS ANY OTHER PURPOSES DIRECTED, AND
DEEMED NECESSARY, BY THE TOWN MANAGER.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN
OF PROSPER, TEXAS:
SECTION 1. The Town Council hereby authorizes the Town Manager to hire a
Special Counselor to handle any matters involving Deion and/or Pilar Sanders in
Municipal Court, interviews of Prosper Police Officers and/or any other Police
related matter which is the result of the criminal matters pending or otherwise
which relate to Deion and/or Pilar Sanders, as well as any other purposes
directed, and deemed necessary by the Town Manager.
SECTION 2. This Resolution is effective immediately upon its passage.
DULY PASSED AND APPROVED BY THE TOWN COUNCIL OF THE TOWN OF
PROSPER, TEXAS on this 8th day of May, 2012.
____________________________
Ray Smith, Mayor
ATTEST TO:
_________________________
Amy Piukana, Town Secretary
Exhibit “A”
(Agreement)
Page 1 of 2
To: Mayor and Town Council
From: Matthew B. Garrett, Finance Director
CC: Mike Land, Town Manager
Re: Town Council Meeting – May 08, 2012
Date: May 02, 2012
Agenda Item:
A resolution directing publication of notice of intent to issue Town of Prosper Combination Tax
and Revenue Certificates of Obligation.
Description of Agenda Item:
The Town has discussed plans to issue debt outside of the General Obligation authority in the
near future calendar year to facilitate approximately $9.1 million in water projects, $1.03 million
in storm water drainage projects and $550,000 to purchase a replacement fire engine. This is
the first required step to that end. The notice provides that “the Town Council intends to
consider for passage at a meeting to be held at 6:00 P.M. on June 26, 2012” (which is a
regularly-scheduled meeting) “an ordinance authorizing the issuance of Combination Tax and
Revenue Certificates of Obligation.”
Budget Impact:
The net impact to the budget for this year will only be some minor publication expenses.
Passing the attached resolution does not obligate the Council to issue CO’s, but rather allows
staff to properly notify the public of its intent to consider an amount not to exceed the stated
$10,680,000 later in June.
If CO’s are approved via ordinance on June 26, the preliminary schedule calls for payments in
2012 (mostly interest-only) totaling approximately $462,000. The funding sources for this debt
would be about $368,000 from the Water Fund, $77,000 from the Storm Drainage Fund and
$17,000 from Debt Service. The portion of interest only payments would be for three years with
year four repayments increasing to about $957,000 reflecting full principal and interest
payments. This timing and amount will vary slightly depending on the final schedule and actual
interest rate the Town receives.
Our Financial Advisor is also running a few scenarios that may allow for the bonds to be split
over 2012 and 2013. In doing so, an entity that issues less than $10M per year can have the
bonds deemed bank qualified. These savings on the taxability help lower the Town’s required
interest possibly saving thousands of dollars over bundling the issue into a single, non-bank
qualified issuance. As we consider a refunding, bond administrative expenses and the timing of
project funding requirements, this may not be a viable option.
Prosper is a place where everyone matters.
Administration
Page 2 of 2
Legal Obligations and Review:
McCall, Parkhurst & Horton L.L.P., serves as the Town’s Bond Counsel and Jeff Gulbas has
created the resolution and notice of intent with input from Town Staff.
Attached Documents:
Resolution Directing Publication of the Notice of Intent
Notice of Intent to Issue Combination Tax and Revenue Certificates of Obligation
Board, Committee and/or Staff Recommendation:
Town staff recommends that the Town Council approve the resolution directing publication of
notice of intent to issue Town of Prosper Combination Tax and Revenue Certificates of
Obligation.
CERTIFICATE REGARDING ADOPTION OF RESOLUTION
THE STATE OF TEXAS §
COUNTY OF COLLIN §
TOWN OF PROSPER §
We, the undersigned officers of the Town, hereby certify as follows:
1. The Town Council of the Town convened in REGULAR MEETING ON THE 8TH DAY OF
MAY, 2012, at the Town Hall, and the roll was called of the duly constituted officers and members of the
Town Council, to-wit:
Ray Smith, Mayor
Kenneth Dugger, Mayor Pro-Tem
Meigs Miller, Deputy Mayor Pro-Tem
Dave Benefield
Jason Dixon
Curry Vogelsang, Jr.
Danny Wilson
Amy Piukana, Town Secretary
and all of said persons were present, except the following absentees: _________________________, thus
constituting a quorum. Whereupon, among other business, the following was transacted at said Meeting:
a written
RESOLUTION DIRECTING PUBLICATION OF NOTICE OF INTENTION TO ISSUE
COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION
was duly introduced for the consideration of the Town Council. It was then duly moved and seconded that
said Resolution be adopted and, after due discussion, said motion, carrying with it the adoption of said
Resolution, prevailed and carried by the following vote:
AYES: All members of the Town Council shown present above voted "Aye," except as shown
below:
NOES: ABSTAIN: _______________
2. That a true, full and correct copy of the aforesaid Resolution adopted at the Meeting described
in the above and foregoing paragraph is attached to and follows this Certificate; that said Resolution has
been duly recorded in said Town Council's minutes of said Meeting; that the above and foregoing
paragraph is a true, full and correct excerpt from the Town Council's minutes of said Meeting pertaining
to the adoption of said Resolution; that the persons named in the above and foregoing paragraph are the
duly chosen, qualified and acting officers and members of the Town Council as indicated therein; that
each of the officers and members of the Town Council was duly and sufficiently notified officially and
personally, in advance, of the time, place and purpose of the aforesaid Meeting, and that said Resolution
would be introduced and considered for adoption at said Meeting, and each of said officers and members
consented, in advance, to the holding of said Meeting for such purpose, and that said Meeting was open to
the public and public notice of the time, place and purpose of said meeting was given, all as required by
Chapter 551, Texas Government Code.
3. That the Mayor of the Town has approved and hereby approves the aforesaid Resolution; that
the Mayor and the Town Secretary of the Town have duly signed said Resolution; and that the Mayor and
the Town Secretary of the Town hereby declare that their signing of this Certificate shall constitute the
signing of the attached and following copy of said Resolution for all purposes.
SIGNED this, the 8th day of May, 2012.
______________________________ ________________________________
Town Secretary Mayor
RESOLUTION NO. 12-27
DIRECTING PUBLICATION OF NOTICE OF INTENTION TO ISSUE
COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION
THE STATE OF TEXAS §
COUNTY OF COLLIN §
TOWN OF PROSPER §
WHEREAS, this Town Council deems it advisable to give notice of intention to issue certificates
of obligation of the Town of Prosper, Texas, as hereinafter provided; and
WHEREAS, it is hereby officially found and determined that the meeting at which this
Resolution was passed was open to the public and public notice of the time, place and purpose of said
meeting was given, all as required by Chapter 551, Texas Government Code.
THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF
PROSPER:
1. Attached hereto is a form of the Notice of Intention to issue Certificates of Obligation,
the form and substance of which is hereby adopted and approved.
2. The Town Secretary shall cause said notice to be published in substantially the form
attached hereto, in a newspaper of general circulation in the Town, and published in the Town, on the
same day in each of two consecutive weeks, the date of the first publication thereof to be at least 30 days
prior to the time set for the first reading of the ordinance authorizing the issuance of such certificates of
obligation as shown in said notice.
3. This Resolution shall become effective immediately upon adoption.
______________________________ ________________________________
Town Secretary Mayor
TOWN OF PROSPER, TEXAS
NOTICE OF INTENTION TO ISSUE COMBINATION TAX AND REVENUE
CERTIFICATES OF OBLIGATION
The Town of Prosper does hereby give notice of intention to issue one or more series of Combination Tax
and Revenue Certificates of Obligation, in the maximum principal amount not to exceed $10,680,000 for
paying all or a portion of the Town's contractual obligations incurred in connection with (1) extending,
constructing and improving the Town's water system, including the construction of water storage
facilities, constructing improvements to a water intake point for water purchased from the North Texas
Municipal Water District and constructing improvements to pump stations, (2) developing and
constructing drainage improvements in the Town, including improvements to water retention ponds and
culvert and drainage channel improvements, (3) acquiring a fire engine, and (4) paying legal, fiscal,
engineering and architectural fees in connection with these projects. The Town proposes to adopt an
ordinance that will provide for the Certificates of Obligation to be secured by a pledge of funds received
from the levy and collection of ad valorem taxes in the Town, as provided by law, and from a pledge of
the surplus net revenues of the Town's water and sewer system (the "System") that remain after payment
of all operation and maintenance expenses thereof, and after all debt service, reserve, and other
requirements in connection with all revenue bonds or other obligations (now or hereafter outstanding) of
the Town have been met, to the extent that such obligations are payable from all or any part of the net
revenues of the System. The Town Council intends to consider for passage at a meeting to be held at 6:00
P.M. on June 26, 2012, at the Prosper Municipal Chambers, 108 W. Broadway, Prosper, Texas, an
ordinance authorizing the issuance of Combination Tax and Revenue Certificates of Obligation.
TOWN OF PROSPER, TEXAS
By: /s/ Ray Smith, Mayor