02.11.2014 Town Council Packet
Page 1 of 3
]
Prosper is a place where everyone matters.
1. Call to Order/Roll Call.
2. Invocation, Pledge of Allegiance and Pledge to the Texas Flag.
3. Announcements of upcoming events.
4. Presentation.
GFOA Achievement of Excellence in Financial Reporting—for fiscal year ended
September 30, 2012. (KA)
5. CONSENT AGENDA:
(Items placed on the Consent Agenda are considered routine in nature and non-
controversial. The Consent Agenda can be acted upon in one motion. Items may be
removed from the Consent Agenda by the request of Council Members or staff.)
5a. Consider and act upon minutes from the following Town Council meeting. (RB)
Regular Meeting – January 28, 2014
Special Meeting – January 29, 2014
6. CITIZEN COMMENTS:
(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 Meeting Appearance Card” and present it to the Town Secretary prior to the
meeting.)
Other Comments by the Public -
REGULAR AGENDA:
(If you wish to address the Council during the regular agenda portion of the meeting,
please fill out a “Public Meeting Appearance Card” 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.)
AGENDA
Meeting of the Prosper Town Council
Prosper Municipal Chambers
108 W. Broadway, Prosper, Texas
Tuesday, February 11, 2014
6:00 p.m.
Page 2 of 3
PUBLIC HEARINGS:
7. Conduct a Public Hearing, and consider and act upon a request to rezone 6.5± acres,
located on the west side of Custer Road, 500± feet north of Prosper Trail, from
Agricultural (A) to Planned Development-Office (PD-O). (Z13-0009). (CC)
8. Conduct a Public Hearing, and consider and act upon a request to amend 6.6± acres of
Planned Development-57-Office (PD-57-O), located on the north side of Prosper Trail,
500± feet west of Custer Road. (Z13-0019). (CC)
DEPARTMENT ITEMS:
9. Consider and act upon adopting an ordinance amending Article 4.02 of Chapter 4 of the
Code of Ordinances related to the 2006 mixed beverage election and alcohol permit fees
to be collected by the Town. (RB)
10. Consider and act upon all matters incident and related to the issuance and sale of the
Town of Prosper, Texas, Combination Tax and Surplus Revenue Certificates of
Obligation, Series 2014, including the adoption of an ordinance authorizing the issuance
of such Certificates, approving an Official Statement, a Bond Purchase Agreement, a
Paying Agent/Registrar Agreement, and an engagement letter of Bond Counsel. (KA)
11. Consider and act upon the proposed park land dedication within the limits of the
preliminary plat of Brookhollow, on 158.5± acres, located on the north side of First
Street, 1,600± feet east of Coit Road. (D12-0013). (PN)
12. Discuss and provide update on status of proposed alignment of DNT Backer Road. (HW)
13. Discuss and provide direction to Town staff regarding the naming of future
thoroughfares. (CC)
14. 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:
14a. Section 551.087. To discuss and consider economic development incentives.
14b. Section 551.072. To discuss and consider purchase, exchange, lease or value
of real property for municipal purposes and all matters incident and related
thereto.
14c. Section 551.071. Consultation with Town Attorney regarding legal issues
associated with proposed extraterritorial jurisdiction release, and all matters
incident and related thereto.
15. Reconvene in Regular Session and take any action necessary as a result of the Closed
Session.
Page 3 of 3
16. Possibly direct Town staff to schedule topic(s) for discussion at a future meeting.
Possibly cancel March 11, 2014, Town Council meeting. (RB)
Update on 100-Year Celebration (RB)
17. Adjourn.
CERTIFICATION
I, the undersigned authority, do hereby certify that this Notice of Meeting was posted at the Town Hall of Prosper,
Texas, 121 W. Broadway Street, Prosper, Texas, a place convenient and readily accessible to the general public at
all times, and said Notice was posted on the following date and time:
On February 7, at 5:00 p.m. and remained so posted at least 72 hours before said meeting was convened.
________________________________________ ____________________
Robyn Battle, Town Secretary Date Noticed Removed
If during the course of the meeting covered by this Notice, the Town Council should determine that a closed or
executive meeting or session of the Town Council or a consultation with the attorney/special counsel for the Town
should be held or is required, then such closed or executive meeting or session or consultation with the
attorney/special counsel as authorized by the Texas Open Meetings Act, Texas Government Code, §551.001, et
seq., will be held by the Town Council at the date, hour and place given in this Notice or as soon after the
commencement of the meeting covered by this Notice as the Town Council may conveniently meet in such closed or
executive meeting or session or consult with the attorney/special counsel for the Town concerning any and all
subjects and for any and all purposes permitted by the Act, including, but not limited to, the following sections and
purposes:
Texas Government Code:
§551.071 - Consultation with the attorney/special counsel for the Town.
§551.072 - Discussion regarding the purchase, exchange, lease or value of real property.
§551.074 - Discussion regarding personnel matters.
NOTICE
Pursuant to Town of Prosper Ordinance No. 13-63, all speakers other than Town of Prosper Staff are limited to three
(3) minutes per person, per item, which may be extended for an additional two (2) minutes with approval of a majority
vote of the Town Council.
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) 569-1011. BRAILLE IS NOT AVAILABLE.
Page 1 of 7
]
Prosper is a place where everyone matters.
1. Call to Order/Roll Call.
The meeting was called to order at 6:00 p.m.
Council Members Present:
Mayor Ray Smith
Mayor Pro-Tem Meigs Miller
Deputy Mayor Pro-Tem Kenneth Dugger
Councilmember Michael Korbuly
Councilmember Curry Vogelsang, Jr.
Councilmember Danny Wilson
Councilmember Jason Dixon
Staff Members Present:
Harlan Jefferson, Town Manager
Robyn Battle, Town Secretary
Terrence Welch, Town Attorney
Hulon T. Webb, Jr., Executive Director of Development and Community Services
Chris Copple, Director of Development Services
Kent Austin, Finance Director
Doug Kowalski, Interim Police Chief
Gary McHone, Assistant Police Chief
Wayne Snell, Building Official
Trish Eller, Code Compliance Officer
2. Invocation, Pledge of Allegiance and Pledge to the Texas Flag.
Pastor Jason McConnell of Prosper United Methodist Church led the invocation.
The Pledge of Allegiance and the Pledge to the Texas Flag were led by Cub Scout Den
#4 from Pack 289.
3. Announcements of upcoming events.
Councilmember Vogelsang made the following announcements:
The Town Council welcomes Cub Scout Den #4, from Pack 289, to tonight’s meeting to
lead the pledge of allegiance and the Texas pledge. The scouts are working on their
“Law is a Big Job” badge.
Prosper’s Parks & Recreation Trout Derby will be held on Saturday, February 22, from
9:00 – 11:00 a.m. at Frontier Park. This free activity encourages youth to learn about
fishing, and provides a fun way for families to spend time together. Prizes for various
MINUTES
Regular Meeting of the
Prosper Town Council
Prosper Municipal Chambers
108 W. Broadway, Prosper, Texas
Tuesday, January 28, 2014
Page 2 of 7
age groups will be awarded, and raffle items and door prizes will be provided by local
sponsors. Contact Julie Shivers with the Parks & Recreation Department for more
information.
The North Texas Municipal Water District will conduct free chlorine maintenance of its
distribution system from February 17 through March 17. During this time, the Town’s
water may have an altered taste, but this will not affect the water’s quality or purity. The
Texas Commission on Environmental Quality allows water suppliers to perform this
maintenance, which reduces the need to flush systems during the warm weather
periods, thus conserving water. While a few water customers might detect a change in
the taste and odor of the water during the maintenance period, the water will continue to
be safe.
For the second time in three years, the Town of Prosper has been granted the Gold
Level award from the Texas Comptroller Leadership Circle. This is the highest award for
online financial transparency from the Texas Comptroller of Public Accounts. Prosper
attained a perfect 20 out of 20 score. The Town was judged on criteria including the
officially adopted budget, annual financial report, check register, and web page.
Congratulations to Town Manager Harlan Jefferson, Finance Director Kent Austin, and
the Finance Department staff for their commitment to openness and transparency in
keeping residents informed of the Town’s financial picture.
4. Proclamation.
Presentation of a Proclamation declaring February 7-14, 2014, as Congenital
Heart Defect Awareness Week.
Mayor Smith presented a Proclamation to Melissa Hansen and another member of
Mended Little Hearts of Dallas, a support group for families of children affected by
congenital heart defects.
5. CONSENT AGENDA:
(Items placed on the Consent Agenda are considered routine in nature and non-
controversial. The Consent Agenda can be acted upon in one motion. Items may be
removed from the Consent Agenda by the request of Council Members or staff.)
5a. Consider and act upon minutes from the following Town Council meeting.
(RB)
Regular Meeting – January 14, 2014
5b. Receive the November 2013 financial report. (KA)
5c. Receive the December 2013 financial report. (KA)
5d. Consider and act upon whether to direct staff to submit a written notice of
appeal on behalf of the Town Council to the Development Services
Department, pursuant to Chapter 4, Section 1.5(C)(7) and 1.6(B)(7) of the
Town’s Zoning Ordinance, regarding action taken by the Planning & Zoning
Commission on any site plan or preliminary site plan. (CC)
Page 3 of 7
Mayor Pro-Tem Miller made a motion and Deputy Mayor Pro-Tem Dugger seconded the
motion to approve all items on the Consent Agenda. The motion was approved by a
vote of 7-0.
6. CITIZEN COMMENTS:
(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 Meeting Appearance Card” and present it to the Town Secretary prior to the
meeting.)
Mayor Smith recognized the following individuals who requested to speak:
Dr. Phyllis Hoffschwelle, 2640 Glen Haven Court, Prosper, spoke regarding the Prosper
Ladies Association, which was formed in 2013. She presented information on the
Association’s membership, activities and fundraisers, including their Boots & Bling event
to be held on Saturday, March 29.
There were no other Citizen Comments.
REGULAR AGENDA:
(If you wish to address the Council during the regular agenda portion of the meeting,
please fill out a “Public Meeting Appearance Card” 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.)
DEPARTMENT ITEMS:
7. Consider and act upon awarding Bid No. 2014-29-B to Quality Excavation LTD.,
related to the construction services for the 2nd Upper Plane 30/24-Inch Treated
Water Pipeline; and authorizing the Town Manager to execute same. (HW)
Hulon Webb, Executive Director of Development and Community Services, presented
this item before the Town Council. This project will create a second water transmission
line out of the newly expanded Custer Road Pump Station, to the corner of First Street
and Coit Road. The existing water line at first and Coit will be extended north to connect
to the line feeding the Quail Lake subdivision.
After discussion, Deputy Mayor Pro-Tem Dugger made a motion and Councilmember
Korbuly seconded the motion to award Bid No. 2014-29-B to Quality Excavation LTD., in
the amount of $3,599,581.00; and authorize the Town Manager to execute a
Construction Services Contract Agreement between Quality Excavation LTD., and the
Town of Prosper related to construction services for the 2nd Upper Plane 30/24-Inch
Treated Water Pipeline. The motion was approved by a vote of 7-0.
8. Consider and act upon an ordinance repealing and replacing Chapter 2 of the
Code of Ordinances regarding Animal Control. (TE)
Page 4 of 7
Code Compliance Officer Trish Eller presented this item before the Town Council. The
proposed ordinance would update the Town’s animal control standards to include
several regulations typically found in animal control ordinances from surrounding cities.
During the 2013 Strategic Planning Session, updating the Town’s animal control
ordinance was identified as a major initiative related to maintaining safety and security
within the Town. Ms. Eller reviewed some of the proposed amendments to the
ordinance, and answered questions from the Town Council related to the number of
animals allowed on a piece of property and regulations regarding the keeping of
livestock. Terry Welch confirmed that all residents would be required to be in
compliance with the ordinance once it has been adopted and published. Misty Brown
from Collin County Animal Services was present and answered questions about animal
control services provided by the county, and reported that the county receives
approximately 20-40 animal complaint calls per month from Prosper residents. The
county works with the Town’s Code Compliance Officer to respond to animal complaints
and issues.
Mayor Smith recognized the following individual who requested to speak:
Janet Tharp, 1227 Chandler Circle, Prosper, spoke in favor of this item. She explained
her concerns regarding livestock being kept on her neighbor’s property.
After discussion, Mayor Pro-Tem Miller made a motion and Deputy Mayor Pro-Tem
Dugger seconded the motion to approve Ordinance No. 14-05 repealing and replacing
Chapter 2 of the Code of Ordinances regarding Animal Control. The motion was
approved by a vote of 7-0.
9. Update on threat analysis for Prosper ISD campuses. (DK)
Interim Police Chief Doug Kowalski presented this item before the Town Council. A
threat assessment will be conducted at each Prosper ISD campus and facility located
within the Town. This is the first joint effort between the Town of Prosper Police
Department and Prosper ISD personnel to conduct this type of assessment, which will
be conducted on a regular basis going forward.
This was an informational item only, and no action was taken.
10. Discussion on Collin County Discretionary Funding Call for Projects. (HW)
Hulon Webb, Executive Director of Development and Community Services, presented
this item before the Town Council. Collin County has identified $15 million of
discretionary funding from the 2007 transportation bond program that is available to
municipalities for transportation improvements. The Town is required to provide
matching funds for any projects that receive funding. Town staff recommended two
projects: the reconstruction of Coleman Street from Prosper Trail to Prosper High
School, and the widening of Coleman Street across the south edge of Prosper High
School resulting in a four-lane divided roadway. Mr. Webb presented an additional
option to request funding for the design of improvements to the southbound service road
of the Dallas North Tollway. Council also discussed other options, including extending
Coleman Street to Preston Road.
Page 5 of 7
Mayor Smith recognized the following individual who requested to speak:
Chris Blair, 841 Sibyl Lane, Prosper, asked about other options that Town staff
considered, and recommended that the Council pursue projects other than the Dallas
North Tollway that would have more of a local impact.
Ann Lieber, 1190 Crooked Stick Drive, Prosper, questioned whether funding from SH
121 could be used to fund improvements to the Dallas North Tollway service road, rather
than County funding.
Matt Richardson, Senior Engineer addressed the question by stating that there has not
been a call for projects to use SH 121 toll money, and explained the benefits of
requesting funding for the design of the Dallas North Tollway service road.
Jack Dixon, 810 Long Valley Court, Prosper, inquired about future plans for Talon Lane,
and Mr. Webb responded.
Town staff was directed to submit the following projects to Collin County in response to
the Collin County Discretionary Funding Call for Projects:
Coleman Street (Prosper Trail to Prosper High School & Prosper High School
to Preston Road): Reconstruct an existing two-lane 20' wide asphalt roadway as a
two-lane 24' wide undivided (one-half of ultimate four-lane divided) concrete roadway
from Prosper Trail to the southern boundary of Prosper High School. Construct a
new two-lane 24' wide undivided (one-half of ultimate four-lane divided) concrete
roadway on a new alignment from the east boundary of Prosper High School to
Preston Road.
Coleman Street (at Prosper High School): Widen an existing two-lane 24' wide
undivided (one-half of ultimate four-lane divided) concrete roadway to a four-lane
divided roadway across the frontage of Prosper High School.
Dallas North Tollway Southbound Frontage Road (US 380 – Frontier Parkway),
Engineering Only: Conduct engineering design for two southbound lanes of the
Dallas North Tollway Frontage Roads from Frontier Parkway to US 380, including
intersection improvements at Frontier Parkway, Prosper Trail, and First Street.
11. Discussion on street light standards for the Town’s thoroughfares and the
Downtown Enhancements Project. (HW)
Hulon Webb, Executive Director of Development and Community Services, presented
this item before the Town Council. Town staff has researched options for decorative
street light options to be placed in the medians of the Town’s thoroughfares, as well as
lighting options for the downtown area through the Downtown Enhancements Project.
The Town Council selected the “Omega” design for thoroughfare lighting. Bill Hays from
the Prosper Historical Society was present, and recommended the “Heritage” style for
the downtown area. The Town Council directed staff to move forward with the “Omega”
style for thoroughfare lighting and the “Heritage” style for the downtown area.
12. Discussion on Alcohol Permit Fees. (RB)
Town Secretary Robyn Battle presented this item before the Town Council. The Town’s
local option elections allow for the sale of alcohol in permitted areas within the Town.
Page 6 of 7
The current Town ordinance authorizing a local permit fee was adopted in 2006. Ms.
Battle reviewed the fees that a typical establishment in the Town of Prosper would pay to
TABC and to the Town for alcohol permits under the current TABC fee schedule, and
presented the results of a survey to determine which municipalities in the area also
charge local permit fees. The benefits of charging a fee versus not charging a fee were
discussed. Town staff was directed to bring the item and proposed ordinances to either
amend the fee ordinance or discontinue the fees back to the Town Council at the
February 11 Town Council meeting.
Mayor Smith recognized the following individuals who requested to speak:
Chris Blair, 841 Sibyl Lane, Prosper, encouraged the Town Council to consider the effect
the ordinance may have on small business owners.
Ann Lieber, 1190 Crooked Stick, Prosper, spoke in opposition to continuing the permit
fee.
13. 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:
13a. Section 551.087. To discuss and consider economic development incentives.
13b. Section 551.072. To discuss and consider purchase, exchange, lease or value
of real property for municipal purposes and all matters incident and related
thereto.
13c. Section 551.071. Consultation with Town Attorney regarding legal issues
associated with proposed extraterritorial jurisdiction release, and all matters
incident and related thereto.
The Town Council recessed into Executive Session at 7:48 p.m.
Mayor Smith left the Executive Session at 8:15 p.m.
14. Reconvene in Regular Session and take any action necessary as a result of the
Closed Session.
The Regular Session was reconvened at 8:30 p.m.
No action was taken as a result of Executive Session.
15. Possibly direct Town staff to schedule topic(s) for discussion at a future meeting.
Update to Building Codes. (WS)
Wayne Snell, Building Official, presented information on increasing the wind load
requirement for new residential construction with the adoption of the 2012 Building
Codes. Staff was directed to increase the wind load requirement in the proposed
update to the Building Codes.
Page 7 of 7
Cement Truck Ordinance Discussion. (DK)
Interim Police Chief Doug Kowalski updated the Town Council on a proposed
ordinance related to the spillage of concrete from concrete truck on Town roadways.
Chief Kowalski reviewed the details of the ordinance. Two representatives from local
concrete companies were present to answer questions related to their current
procedures. Both representatives support the ordinance, with the exception of the
requirement for a reflective surface on the chute of the truck. The Town Council
directed staff to change the ordinance to reflect this suggestion, and to bring the
ordinance back to the Town Council for adoption at a future meeting.
16. Adjourn.
The meeting was adjourned at 8:45 p.m., on Tuesday, January 28, 2014.
These minutes approved on the 11th day of February, 2014.
APPROVED:
Ray Smith, Mayor
ATTEST:
Robyn Battle, Town Secretary
Page 1 of 3
]
Prosper is a place where everyone matters.
1. Call to Order/Roll Call.
The meeting was called to order at 9:00 a.m.
Council Members Present:
Mayor Ray Smith
Mayor Pro-Tem Meigs Miller
Deputy Mayor Pro-Tem Kenneth Dugger
Councilmember Michael Korbuly
Councilmember Curry Vogelsang, Jr.
Councilmember Danny Wilson
Councilmember Jason Dixon
Staff Members Present:
Harlan Jefferson, Town Manager
Robyn Battle, Town Secretary
Carol Myers, Executive Assistant/Deputy Town Secretary
Hulon T. Webb, Jr., Executive Director of Development and Community Services
Chris Copple, Director of Development Services
Frank Jaromin, Public Works Director
Baby Raley, Human Resources Director
Kent Austin, Finance Director
Robert Winningham, Executive Director, Prosper Economic Development Corporation
Ronnie Tucker, Fire Chief
Doug Kowalski, Interim Police Chief
Gary McHone, Assistant Police Chief
Facilitator:
Randy Pennington, Pennington Performance Group
2. The Town Council will hold a strategic planning workshop to discuss successes
and accomplishments since the last planning workshop and to prioritize future
strategic goals.
Mr. Pennington reviewed the discussion topics for the day, and the list of
accomplishments from the previous year that Town staff had submitted. He asked the
Town Council to state some of the accomplishments from the previous year that they
were most proud of. Some of the accomplishments included the quality of the staff that
Town Manager Harlan Jefferson has put in place, and the overall quality of Town staff,
improvements to roadways and infrastructure, the formation of the Executive
Development team, and the 380 Forum.
MINUTES
Special Meeting of the
Prosper Town Council
Prosper Municipal Chambers
108 W. Broadway, Prosper, Texas
Wednesday, January 29, 2014
Page 2 of 3
Areas for continued improvement include bringing additional jobs to the Town, recruiting
a grocery store, managing growth as population increases, and executing the plans that
the Town Council and Town staff have already put in place.
Mr. Pennington reviewed the Town’s Vision and Values, and the Town Council
discussed potential long-term changes for future services and programs based on the
current vision for the Town. Other discussion items included a SWOT Analysis
(Strengths, Weaknesses, Opportunities, and Threats) that were identified by Town staff.
Mr. Pennington reviewed the Town’s Strategic Goals:
Recruit Targeted and Maintainable Economic Development: Promote diversity in
economic growth and community development for Prosper’s current and future
residents.
Ensure Quality Residential Development: Ensure quality residential development
and re-development that supports the Town’s vision and enhances the quality of life
of Prosper’s current and future residents.
Maintain Safety and Security: Ensure the safety and security of individuals and
property for those who live, work, and play in Prosper.
Provide First Rate Utilities: Provide high quality water and sewer services to meet
the Town’s current and future needs.
Provide Efficient and Effective Roads and Infrastructure: Provide high
transportation corridors that promote mobility to meet the Town’s current and future
needs.
Maximize Recreation and Leisure Opportunities: Provide citizens and visitors with
opportunities to participate in experiences that meet their recreation and leisure
needs. Promote diversity in leisure services, and experiences for Prosper’s current
and future residents.
Maintain Community Character: Maintain Prosper’s unique feel and distinctive look
through extensive use of trees and open space as well as high development
standards that provide vibrant neighborhoods and development.
Ensure Fiscal Stewardship: Ensure Propser’s long-term financial viability and
integrity of the Town’s financial controls and processes.
Maintain A Quality Workforce: Ensure Prosper’s long-term success by attracting,
retaining, equipping, and empowering a workforce that delivers excellent service for
an excellent value.
Improve Town Facilities: Maintain quality public facilities that represent the brand
image of Prosper; meet the needs of the citizens and staff; and promote effective
and efficient Town services.
The Town Council discussed action items associated with each of the above goals and
provided direction to Town staff, as necessary.
The Town Council heard presentations by staff on the following items:
Facility Update on Fire Station #2 and Town Hall
Discussion Topics for a possible Joint meeting with Prosper ISD
Dispatch Equipment & Options
Evaluation of Police Staffing Levels
Page 3 of 3
Deed Restriction on Lights of Frontier Park
Revenue Enhancements to Address Fire Station #2 O&M Cost
Prosper’s 100-Year Anniversary Celebration
In closing, Mr. Pennington explained that the discussion items and suggestions would be
compiled into a report for the Town Council that would be finalized in approximately two
weeks.
3. 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:
3a. Section 551.072. To discuss and consider purchase, exchange, lease or
value of real property for municipal purposes and all matters incident and related
thereto.
The Executive Session was not held.
4. Reconvene in Regular Session and take any action necessary as a result of the
Closed Session.
5. Adjourn.
Deputy Mayor Pro-Tem Dugger made a motion and Mayor Pro-Tem Miller seconded the
motion to adjourn the meeting at 4:16 p.m., on Wednesday, January 29, 2014. The
motion was approved by a vote of 7-0.
These minutes approved on the 11th day of February, 2014.
APPROVED:
Ray Smith, Mayor
ATTEST:
Robyn Battle, Town Secretary
Page 1 of 4
To: Mayor and Town Council
From: Chris Copple, AICP, Director of Development Services
Through: Harlan Jefferson, Town Manager
Re: Town Council Meeting – February 11, 2014
Agenda Item:
Conduct a Public Hearing, and consider and act upon a request to rezone 6.5± acres, located
on the west side of Custer Road, 500± feet north of Prosper Trail, from Agricultural (A) to
Planned Development-Office (PD-O). (Z13-0009).
Description of Agenda Item:
The zoning and land use of the surrounding properties are as follows:
Zoning
Current Land Use Future Land Use Plan
Subject
Property Agricultural Landscape Business Low Density Residential
North Single Family-15 Single Family Residential
(Rhea Mills Estates) Low Density Residential
East City of McKinney Undeveloped City of McKinney
South
Planned Development-
57-Office
House of Worship
(Lighthouse Christian
Fellowship)
Low Density Residential
West
Planned Development-
57-Office /
Single Family-15
Private School
(Grace Academy) /
Single Family Residential
(Rhea Mills Estates)
Low Density Residential
Requested Zoning – Z13-0009 is a request to rezone 6.5± acres, located on the west side of
Custer Road, 500± feet north of Prosper Trail, from Agricultural (A) to Planned Development-
Office (PD-O). The Planned Development regulations are attached. The property consists of
an existing building and landscape business, which was constructed in 1997 and 2004, prior to
the property being annexed into the Town in 2009.
The proposed PD-O District’s purpose is to rezone the property to allow for non-residential
development and to reduce the list of permitted uses from those allowed under straight Office
Prosper is a place where everyone matters.
PLANNING
Item 7
Page 2 of 4
zoning. Rezoning the property to PD-O, instead of straight Office zoning, eliminates the
following uses from being permitted on the property:
Antenna and/or Antenna Support Structure, Non-Commercial C
Athletic Stadium or Field, Private S
Athletic Stadium or Field, Public
Automobile Paid Parking Lot/Garage S
Automobile Parking Lot/Garage
Cemetery or Mausoleum S
Commercial Amusement, Indoor
Golf Course and/or Country Club
Helistop S
Hospital
Private Club S
Recycling Collection Point
School District Bus Yard C
Sewage Treatment Plant/Pumping Station S
Temporary Building C
Utility Distribution/Transmission Facility S
Water Treatment Plant S
Future Land Use Plan – The Future Land Use Plan (FLUP) recommends Low Density
Residential uses for the property. The zoning request for Planned Development-Office (PD-O)
deviates from the FLUP. The Comprehensive Plan provides questions that should be
considered when a zoning request deviates from the FLUP. These questions, as well as staff’s
responses to each, are below:
1. Will the proposed change enhance the site and the surrounding area?
The existing structures and uses have been in place since 1997 and 2004, prior to the Town
annexing the property in 2009. The rezoning will allow the property to redevelop. Any new
development will be required to meet the Town’s development and landscape standards,
which will enhance the site and improve the view from the surrounding area.
2. Is the proposed change a better use than that originally envisioned and originally depicted
on the Future Land Use Plan map?
The property has direct access to Custer Road, a future six-lane divided thoroughfare and
cross access from the adjacent single family development (Rhea Mills Estates) is not
provided for. The existing landscape business is a non-residential use and any future
development will be separated from the Rhea Mills Estates subdivision by a 170-foot-wide
overhead electric easement. Office District uses are appropriate for the property.
3. Will the proposed use impact adjacent residential areas in a negative manner?
The Office District is the most restrictive non-residential district in the Town’s Zoning
Ordinance. The property has direct access to Custer Road, a future six-lane divided
thoroughfare, so traffic will not impact adjacent residential areas. Any new development on
the property would be required to comply with the Town’s screening and landscape
standards.
4. Will the proposed use be compatible with and/or enhance adjacent residential uses?
The Office District is the most restrictive non-residential district in the Town’s Zoning
Ordinance. The proposed PD-O District reduces the list of uses from those permitted in
straight Office zoning. The property has direct access to Custer Road, a future six-lane
Item 7
Page 3 of 4
divided thoroughfare. Any new development on the property would be required to comply
with the Town’s screening and landscape standards. Office District uses are appropriate
adjacent to single family use.
5. Are uses adjacent to the proposed use similar in nature in terms of appearance, hours of
operation, and other general aspects of compatibility?
The property adjacent to the western and southern boundary is non-residential in nature.
The property is zoned Planned Development-Office and the existing uses are Private School
and House of Worship.
6. Does the proposed use present a significant benefit to the public health, safety, welfare,
and/or social well-being of the community?
The existing structures and uses have been in place since 1997 and 2004. The rezoning
will allow the property to redevelop. Future office development would provide additional
services and employment opportunities to residents in the Town.
7. Would the proposed use contribute to the Town’s long-term economic stability?
The existing structures and uses have been in place since 1997 and 2004. The rezoning
will allow the property to redevelop. Any new development will be required to meet the
Town’s development and landscape standards, which will enhance the site and improve the
view from the surrounding area. Future office development would provide additional
services and employment opportunities to residents in the Town.
The FLUP is a guide. Zoning requests that deviate from the FLUP should be evaluated on their
own merit.
Thoroughfare Plan – The property is adjacent to Custer Road, a future six-lane divided
thoroughfare. The zoning exhibit complies with the Thoroughfare Plan.
Water and Sanitary Sewer Services – Water and sanitary sewer service have been extended to
the property.
Access – Access to the property is provided from Custer Road. Adequate access is provided to
the property.
Schools – This property is located within the Prosper Independent School District (PISD).
Parks – It is not anticipated that this property will be needed for the development of a park.
Environmental Considerations – There is no 100-year floodplain located on the property.
Legal Obligations and Review:
Zoning is discretionary. Therefore, the Town Council is not obligated to approve the request.
Notification was provided to neighboring property owners as required by state law. Town staff
has received four public hearing notice reply forms; three in opposition to the request. The
property owners in opposition to the request represent an area greater than twenty percent
(20%) of the land area within two hundred feet (200’) of the subject property. Therefore, an
affirmative vote of three-fourths (3/4) of all members of the Town Council is required to approve
the zoning request.
Attached Documents:
1. Zoning Exhibits A, B, C, D, and E.
Item 7
Page 4 of 4
2. Zoning map of the surrounding area.
3. The Future Land Use Plan.
4. Public hearing notice reply forms.
Planning & Zoning Commission Recommendation:
At their January 7, 2014, meeting, the Planning & Zoning Commission recommended the Town
Council approve a request to rezone 6.5± acres, located on the west side of Custer Road, 500±
feet north of Prosper Trail, from Agricultural (A) to Planned Development-Office (PD-O), by a
vote of 5-0.
Town Staff Recommendation:
Town staff recommends the Town Council approve the request to rezone 6.5± acres, located on
the west side of Custer Road, 500± feet north of Prosper Trail, from Agricultural (A) to Planned
Development-Office (PD-O).
Proposed Motion:
I move to approve the request to rezone 6.5± acres, located on the west side of Custer Road,
500± feet north of Prosper Trail, from Agricultural (A) to Planned Development-Office (PD-O).
Item 7
Item 7
C:\DWG13\ZOLLER\ZOLLER PD CD 4-8-2013\EXHIBIT B 4-8-2013 intent.doc
EXHIBIT “B”
Statement of Intent & Purpose
4855 North Custer Road
James Zoller and Gail Lebovic
4-8-2013
Prosper, Texas
The tract shall develop and operate under the regulations of the Office (O)
District as outlined in the Town’s Zoning Ordinance No. 05-20, as it exists or may
be amended, with the following conditions listed in Exhibit “C”.
We propose to change the Zoning from Agriculture to PD – O to make our
property more useable and sellable.
Sincerely,
James Zoller and Gail Lebovic
Item 7
EXHIBIT “C”
PLANNED DEVELOPMENT STANDARD
4855 North Custer Road
James Zoller and Gail Lebovic
4-8-2013
Prosper, Texas
The tract shall develop and operate under the regulations of the Office (O) District as
outlined in the Town’s Zoning Ordinance No. 05-20, as it exists or may amended, with
the following conditions:
1.0 Permitted Uses
The land uses following 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-Office District are:
Accessory Building
Administrative, Medical, or Professional Office
Assisted care or Living Facility S
Bank, Savings and Loan, or Credit Union
Bed and Breakfast Inn S
Business Service
Caretaker’s/Guard’s Residence
Civic/Convention Center
College, University, trade, or Private Boarding School S
Community Center
Day Care Center, Adult S
Day Care Center, Child C
Day Care Center, Incidental S
Dry Cleaning, Minor
Farm, Ranch, Stable, Garden, or Orchard
Fraternal Organization, Lodge, Civic Club. Fraternity, or Sorority
Governmental Office
Health/Fitness Center
Homebuilder Marketing Center
House of Worship
Insurance Office
Municipal Uses Operated by the Town of Prosper
Museum/Art Gallery
Park or Playground
Print Shop, Minor
Private Recreation Center
Private Utility, Other Than Listed
Rehabilitation Center Institution S
Restaurant or Cafeteria C
Item 7
Retail/Service Incidental Use
School, Private or Parochial
School, Public
Stealth Antenna, Commercial C
Telephone Exchange
2.0 Perimeter Landscaping
2.01 Due to the 170’ wide overhead electric transmission line easement, the required
perimeter plantings shall be permitted to be located interior to the property,
generally located between Rhea Mills Estates and any new development.
Item 7
Item 7
EXHIBIT E
There is no construction schedule at this time for this proposed Concept Plan. No construction is
planned or may ever be planned.
Jim Zoller
Item 7
Z13-0009
SF-15
A
A
OPD-57
SF-10/12.5/15/22/EPD-9
CR 123N CUSTER RDE PROSPER TRLRHEA MILLS CIRGRINDSTONE DRESCALANTE TRL0 125 250 375
Feet
1 inch = 250 feet
Item 7
Z
0 0.5 1 1.50.25
Miles Plate 2
FutureLand UsePlan
July 2012
kj
kj kj
kj
kj
kj
kj
kj kj kj
kj kj
kjkj
kj
Parvin Rd.F.M. 1385GeeFish Trap Rd.
U.S. 380 Dallas North TollwayProsper Trail
First St.La Cima
Blvd.
Frontier Pkwy.Preston Rd.Coit Rd.F.M. 1461 F.M. 2478F.M. 2478Custer Rd.F.M. 423Teel Pkwy.Legacy Dr.Legacy Dr.Virginia Pkwy.BNSF RRS. ColemanN. ColemanLovers Ln Hays RdLegend
Low Density Residential
Medium Density Residential
High Density Residential
Retail & Neighborhood Services
Business Park
Old Town District
Town Center
Tollway District
US 380 District
100 Year Floodplain
kjMajor Gateway
kj Minor Gateway
Town of Prosper
ETJ
Note: A comprehensive plan shall not constitute
zoning regulations or establish zoning district
boundaries.
Item 7
Item 7
Item 7
Item 7
Item 7
Item 7
Page 1 of 3
To: Mayor and Town Council
From: Chris Copple, AICP, Director of Development Services
Through: Harlan Jefferson, Town Manager
Re: Town Council Meeting – February 11, 2014
Agenda Item:
Conduct a Public Hearing, and consider and act upon a request to amend 6.6± acres of
Planned Development-57-Office (PD-57-O), located on the north side of Prosper Trail, 500± feet
west of Custer Road. (Z13-0019).
Description of Agenda Item:
The zoning and land use of the surrounding properties are as follows:
Zoning
Current Land Use Future Land Use Plan
Subject
Property
Planned Development-
57-Office
Private School
(Grace Academy) Low Density Residential
North
Single Family-15
Single Family
Residential (Rhea Mills
Estates)
Low Density Residential
East
Planned Development-
57-Office / Agricultural
House of Worship
(Lighthouse) /
Landscape Business
Low Density Residential
South
Planned Development-9-
Single Family
Public School (Cockrell
Elementary) / Single
Family Residential
(Whitley Place)
Low Density Residential
West
Single Family-15 /
Agricultural / Prosper
ETJ
Single Family
Residential (Rhea Mills
Estates)
Low Density Residential
Requested Zoning – Z13-0019 is a request to amend 6.6± acres of Planned Development-57-
Office (PD-57-O), located on the north side of Prosper Trail, 500± feet west of Custer Road. The
property consists of an existing private school building. The proposed amendment would retain
the existing PD standards and allow for the addition of two temporary buildings to be located
north of the existing building.
Prosper is a place where everyone matters.
PLANNING
Item 8
Page 2 of 3
The use of temporary buildings is proposed to be in conformance to the Zoning Ordinance, with
the exception that a letter in lieu of a preliminary site plan describing the applicant’s plan for
providing for a permanent solution to the immediate need for new temporary buildings would be
required. The proposed PD standards and a letter describing the applicant’s plan are attached.
Future Land Use Plan – While the Future Land Use Plan (FLUP) recommends Low Density
Residential uses for the property, on August 28, 2012 the property was rezoned Planned
Development-57-Office (PD-O) after consideration of the criteria outlined in the Comprehensive
Plan regarding zoning requests that deviate from the FLUP.
Thoroughfare Plan – The property has direct access to Prosper Trail, a future four-lane divided
thoroughfare, and cross-access to Custer Road, a future six-lane divided thoroughfare. The
zoning exhibit complies with the Thoroughfare Plan.
Water and Sanitary Sewer Services – Water and sewer service have been extended to the
property. The Engineering Department has confirmed that the existing utilities are adequate to
serve the proposed development.
Access – Access to the property is provided from Prosper Trail and through cross-access to
Custer Road. Adequate access is provided to the property.
Schools – This property is located within the Prosper Independent School District (PISD).
Parks – It is not anticipated that this property will be needed for the development of a park at
this time.
Environmental Considerations – There is no 100-year floodplain located on the property.
Summary – The existing structure has been in place since 2004, prior to the Town annexing the
property in 2009. The structure was originally used as a church and converted into a private
school in 2011. The proposed temporary buildings will be located behind the existing structure,
and will be separated from the adjacent single family development by a 170-foot-wide overhead
electric easement. The rezoning is not proposing to add additional permanent uses to the
property.
Legal Obligations and Review:
Zoning is discretionary. Therefore, the Town Council is not obligated to approve the request.
Notification was provided to neighboring property owners as required by state law. Town staff
has received three public hearing notice reply forms; one in opposition to the request.
Attached Documents:
1. Zoning Exhibits A, B, C, and D.
2. Planned Development-57 (Ord.12-24).
3. Zoning map of the surrounding area.
4. Letter from the applicant describing current need and permanent solution.
5. Public hearing notice reply forms.
Planning & Zoning Commission Recommendation:
At their January 21, 2014, meeting, the Planning & Zoning Commission recommended the Town
Council approve a request to amend 6.6± acres of Planned Development-57-Office (PD-57-O),
located on the north side of Prosper Trail, 500± feet west of Custer Road, by a vote of 6-0,
subject to landscaping being planted between the temporary buildings and the Rhea Mills
Item 8
Page 3 of 3
subdivision. The applicant has revised Exhibit C and D to reflect the Planning & Zoning
Commission’s recommendation.
Town Staff Recommendation:
Town staff recommends the Town Council approve the request to amend 6.6± acres of Planned
Development-57-Office (PD-57-O), located on the north side of Prosper Trail, 500± feet west of
Custer Road.
Proposed Motion:
I move to approve the request to amend 6.6± acres of Planned Development-57-Office (PD-57-
O), located on the north side of Prosper Trail, 500± feet west of Custer Road.
Item 8
Item 8
EXHIBIT ‘B’
PLANNED DEVELOPMENT
STATEMENT OF INTENT
6.6 Acres, 4255 Prosper Trail
TOWN OF PROSPER, TX
The intent of this Revision to the existing Planned Development Zoning (PD 57)
currently in place for this property is to allow for temporary buildings on a portion
of the property, owned by Collin County Lighthouse Christian Fellowship.
The change affects the 6.6 acre tract described in the Exhibit ‘A’ of this PD
Zoning Request and allows for Temporary Buildings in the approximate location
shown on Exhibit ‘D’ of this PD Zoning Request. The Permitted Use of
Temporary Buildings would be allowed for a term of three (3) years from the date
of Certificate of Occupancy of the first building, and would allow for an extension
of One (1) year, one time prior to expiration of the permitted use.
Item 8
EXHIBIT ‘C’
PLANNED DEVELOPMENT STANDARDS
6.6 Acres, 4255 Prosper Trail
Town of Prosper, Texas
Planned Development-57 Amendment
Except as otherwise set forth in the development standards below, the property, as
described in Exhibit A, shall develop under Ordinance No. 12-24 (PD-57).
1.0 Permitted Uses
• Permitted uses listed in Ordinance Number 12-24 (PD-57)
• Temporary Buildings, subject to the conditions below:
A. The temporary buildings shall be located north of the main buildings, as
conceptually shown on Exhibit D.
B. A permit to erect a temporary building may be issued for an initial period of
three (3) years provided the applicant submits:
1) an application with documented evidence of an immediate need for space
to the Building Official, who shall evaluate each application for a
temporary building based on the following criteria:
a) capacity of the existing permanent building(s), which is located or
planned to be located on the same property for which the temporary
building permit is being sought, compared to the enrollment,
employment, and/or number of people attending the existing
permanent building(s) at one time;
b) total enrollment, employment, and/or membership size;
c) documentation of growth records depicting the number of people in the
congregation, school and/or office;
d) whether the facility is a start-up or new facility;
e) indication of alternative options that were explored before a temporary
building application was considered;
f) acts of nature; and/or
g) any other evidence which is reasonably related to the immediate need
for additional space;
2) A letter describing the applicant’s plan for providing for a permanent
solution to the immediate need for a new temporary building(s) showing
the permanent building(s); and
Item 8
3) a site plan for the temporary building(s) to the Planning Department, which
is subject to the review and approval of the Planning & Zoning
Commission
C. The temporary building(s) shall be removed within thirty (30) days of the date:
1) a Certificate of Occupancy is issued for the permanent building; or
2) the permit for the temporary building expires, whichever occurs first.
D. A request for a one (1) year extension of the temporary building permit may
be granted by the Planning & Zoning Commission provided the applicant:
1) has an approved and valid preliminary site plan for the permanent
building(s) and an approved and valid site plan for the temporary
building(s);
2) has a specific plan of how an additional year would allow the applicant to
construct the permanent building(s) by providing:
a) evidence of numeric growth, beyond that which was specifically
anticipated by the applicant;
b) membership, enrollment, and/or employment growth records;
c) evidence that alternative options were explored before an extension of
the temporary building permit was requested; and
d) any other criteria reasonably deemed appropriate by the Planning &
Zoning Commission.
E. The applicant may challenge a decision of the Building Official or Planning &
Zoning Commission, by appealing, in writing, to the Town Council within
fourteen (14) days of a decision of the Building Official or the Planning &
Zoning Commission. The Town Council’s decision is final.
2.0 Landscaping
A. Landscaping shall be located between the temporary buildings and the Rhea
Mills subdivision, as conceptually shown on Exhibit D, and shall consist of
one (1) small evergreen tree and one (1) five (5) gallon evergreen shrub
planted every fifteen (15) linear feet.
Item 8
Item 8
TOWN OF PROSPER, TEXAS ORDINANCE NO. 12-24
AN ORDINANCE AMENDING PROSPER'S ZONING ORDINANCE NO. 05-20;
REZONING A TRACT OF LAND CONSISTING OF 10.636 ACRES, MORE OR
LESS, SITUATED IN THE GEORGE HORN SURVEY, ABSTRACT NO. 412, IN
THE TOWN OF PROSPER, COLLIN COUNTY, TEXAS, HERETOFORE
ZONED AGRICULTURAL (A) IS HEREBY REZONED AND PLACED IN THE
ZONING CLASSIFICATION OF PLANNED DEVELOPMENT-OFFICE (PD-O);
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 should be amended; and
WHEREAS, the Town of Prosper, Texas ("Prosper") has received a request from Collin County
Lighthouse Christian Fellowship ("Applicant") to rezone 10.636 acres of land, more or less, situated in
the George Horn Survey, Abstract No. 412, 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. Zoning Ordinance No. 05-20 is
amended as follows: The zoning designation of the below-described property containing 10.636 acres of
land, more or less, situated in the George Horn Survey, Abstract No. 412, 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-Office (PD-O). The property as a whole and the boundaries for
Item 8
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 the planned development standards, attached hereto as Exhibit "B",
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
Item 8
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.
01111'
D LY PASSED AND APPROVED BY THE TOWN COUNCIL OF THE TOWN OF
PocSI T`N\S ON THIS 28`x' DAY OF AUGUST, 2012.
sti°
T fib APPROVED AS TO FORM:
ti
t *
C'
1
opt
Ray Smith, ayor
AT M. TQ*ND
C30_' , ECORDED BY:
Amy iukana,, own' ecretary
DATE OF PUBLICATION: I Prosper Press
Item 8
DESCRIPTION 10.636 ACRES
SITUATED in Collin County, Texas, in the George Horn survey, abstract no. 412,
being survey of the 4.594 acre tract described in a deed from Jerry R. Long to Collin
County Lighthouse Christian Fellowship, dated January 15, 2003 and recorded in
volume 5339, page 7561, a survey of the 2.000 acre tract described in a deed from
Jerry R. Long to Collin County Lighthouse Christian Fellowship, dated December 31,
2002 and recorded in volume 5339, page 7558, both deeds of the Collin County deed
records and a survey of Lot 1, Block A of the Lighthouse Church Addition recorded in
volume 2010, page 142 of the Collin County plat records, being described by metes and
bounds as follows:
BEGINNING at a 3/8" iron pin found at the north corner of said 4.594 acre tract;
THENCE South 01°50'57" West, with the east line of said 4.594 acre tract,
327.39 feet to a %-inch iron pin set at the northwest corner of said Lot 1;
THENCE South 88°13'07" East, with the north line of said Lot 1, 463.84 feet to a
inch iron pin set at the northeast corner of said Lot 1; same being in the west right-of-
way line of Farm Road No. 2478(Custer Road)(north-south asphalt highway);
THENCE southerly with the east line of said Lot 1 and the west right-of-way line
of said Farm Road No. 2478 as follows:
South 01°45'29"West, 4.05 feet to a 1/2-inch iron pin set;
South 04°56'44"West, 179.88 feet to a 1/2-inch iron pin set;
South 01°45'29"West, 169.40 feet to a %-inch iron pin set at the east-
southeast corner of said Lot 1;
THENCE South 46°52'10"West, with the southeast line of said Lot 1, 43.26 feet
to a %-inch Iron pin set at the south-southeast corner of said Lot 1; same being in the
north right-of-way line of Prosper Trail(County Road No. 122)(east-west asphalt road);
THENCE westerly with the north right-of-way line of said Prosper Trail as follows:
North 88°05'39"West, with the south line of said Lot 1, 120.35 feet to a %-
inch Iron pin set;
South 88°05'12"West, with the south line of said Lot 1, 75.00 feet to a %-
inch iron pin set;
North 88°05'39"West, with the south line of said Lot 1, passing the
southwest corner of said Lot 1 and the southeast corner of said 2.000 acre tract at
228.61 feet and continuing with the south line of said 2.000 acre tract, passing the
southwest corner of said 2.000 acre tract and the south-southwest corner of said 4.594
acre tract at 523.77 feet and continuing with the south line of said 4.594 acre tract, in all,
844.65 feet to a %-inch iron pin set;
THENCE North 87°48'07"West, with the south line of said 4.594 acre tract,
113.87 feet to a %-inch iron pin set at the southwest corner of said 4.594 acre tract;
THENCE North 01°56'05" East, with the west line of said 4.594 acre tract, 55.46
feet to a %-inch iron pin found at the west-northwest corner of said 4.594 acre tract;
Item 8
THENCE South 88° 13'55" East, with a north line of said 4.594 acre tract, 186.89
feet to a 1A-inch iron pin set at an inside corner of said 4.594 acre tract;
THENCE North 23°29'05"West, with a west line of said 4.594 acre tract, 175.02
feet to a 3/8" iron pin found at the north-northwest corner of said 4.594 acre tract;
THENCE North 52°52'26" East, with the northwest line of said 4.594 acre tract,
794.69 feet to the PLACE OF BEGINNING and containing 10.636 acres.
6aee
Bruce Geer, Registered Professional Land Surveyor, No. 4117
1514 N. McDonald Street
McKinney, Texas 75071 3 ^ 2
972-562-3959 Q
972-542-5751-fax e y r f 5 - 18 - 20 f 1
OF
4 _ :
4'LICE GE-ER •1
to ;po 4117 a,.:/
Item 8
as
avoa aJiSnn BL42 UN avoa/Nd J
z °
m
k 6--b69
a 0 w s
r
19J
c o ,,
a w z I
a 1
a z z h iz
c rcww- z z Im
dz
I
r I —I m I 0ww
IIIwaoo ..a w a ary
I w
n
I Iw
mom ., ., .w> .w . :0 .w w o
I %
T
1 L-. 1 HI IC - -.- - ,-,1 [ 1
1
I
w
r z / r__ 5
3qqor
1 VI/o
I I N7
i\ i
olz1 oo ,'' " ' 'R D o
a
1 — i' ` z1 aJ rc of
I--- J,rva L— /tea p, I_—— Z "
JE
1I 0
ff
3 z—s y
d.
a,.l s
T — rte__ L 1_ 3
o
K
a9 rI
w
u
I
KQIIs -51141 _
a
I • r
A 'L'N \ noel,
w _ - 9I
IJ asaJ J
Q
Iii
I 1- t
I Im sli
Pw c o0 3I6
i aos \ z'a<
I
r wg wIIii1ili-,,
Te,
eJ,
i>,9 7 b
lit
1
T
AA
I I'hI," n
I
goIII
i
ICI V 7w
1 f\J i=4„.qq °-A'L :
41111111 jj nj s sii1i $;
a_ ij'j'1 1111; 1 jii I $ a $! i 11111'1
a1
8
6 I v m -
l i 1 4 "4 113 § i i # ti 1
L
llilvilr J 1jhln:11 11! Il!hillTIY' g114 9
fll >
z
fw
G1
6w _ Is
lli
g tvkl,f'z! ,a 4 e-€ 1q it0i f g6
iI
8 ialiil ;1110oa1t id i
1l11t11Iie i!!iji 18 .
tr t iS1 111 I I# x;
I 1 e\ =r
Item 8
EXHIBIT "B"
PLANNED DEVELOPMENT STANDARDS
Lighthouse Christian Fellowship
Prosper, Texas
The tract shall develop and operate under the regulations of the Office (0) 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
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-Office District are:
Administrative, Medical, or Professional Office (use is only permitted within
the existing buildings on the property at the time of ordinance adoption)
Athletic Field S
Business Service (use is only permitted within the existing buildings on the
property at the time of ordinance adoption)
Community Center (use is only permitted within the existing buildings on the
property at the time of ordinance adoption)
Day Care Center, Child C
Day Care Center, Incidental S
Health/Fitness Center (use is only permitted within the existing building on the
property at the time of ordinance adoption)
House of Worship
Park or Playground
School, Private or Parochial
Item 8
Z13-0019
SF-15
A
A
SF-10/12.5/15/22/EPD-9
OPD-57 N CUSTER RDE PROSPER TRL CR 123RHEA MILLS CIRGRINDST
O
N
E
D
R
MESA DR
RED WING DR
ESCALANTE TRLCASTLETON DRCLIFF CREEK DR±0 150 300 450
Feet
1 inch = 300 feet
Item 8
4255 E. Prosper Trail * P.O. Box 940 * Prosper TX 75078 * 469-287-7111 * www.graceacademy-nt.org
Grace Academy of North Texas
Case for Expansion- Modular Buildings
1/16/2014
Dear P&Z Committee Members:
Thank you for your consideration for the placement of 2 modular buildings on the designated
property. I’ve elucidated the case for this below in accordance to Ordinance No. 12-24 (PD-57)
Current State:
- The capacity of our current building is at maximum. We have already reconfigured
and reclaimed classroom space (4) each of the last two summers and there is no
more space to be had.
- The school enrollment history
o 2011: 52
o 2012: 94
o 2013: 142
o 2014 Projection: 188 if we can add the space.
- The school started as K-7 and we are adding a grade each year. Currently the school
is K-9 and in 2014 will be K-10 so in order to accommodate this we will need to add
space regardless of any organic growth in the other grades.
- Fire Marshall Max Occupancy is 216. With current 142 enrollment plus 25 teachers
and staff we are pushing that limit. Any more students and staff would start being a
barrier to parental visitation and programs. (Which we already have to rely on the
generosity of Lighthouse Christian Fellowship to use their big sanctuary for large
productions.)
Alternatives Explored:
- Explored working with LCF to finish the second floor of their building but not
financially feasible.
- Explored placing permanent structure on current property but without ownership
would not want to invest that amount of money.
- Have explored purchase of other properties/buildings –
o Submitted offers on two different pieces of raw land to build on:
One we could not agree on price.
One we are waiting for response from current owner
o Submitted offer on another property with appropriate structures already in
place. Owners pulled off the market.
Item 8
Current Plan
- The purpose of putting modular buildings on this property is to provide a bridge
from our current state to our future campus.
- We are still diligently searching for a piece of property that would allow the
construction of our future campus complete with athletic facilities and educational
buildings.
- We expect purchasing that property and constructing the first educational building
will take 3-4 years.
- Once we accomplish this, we can continue to use the current permanent structure
for the Lower School (K-5th) but will have shifted the Upper School (grades 6-12) to
the new property and won’t need the extra capacity of the modular buildings and
will remove those from the property.
- We will continue to use the permanent structure we currently use until the entire
school has been relocated to the new campus and we expect would take a total of 6-
7 years from now.
Thank you again for your consideration of this matter.
In His Service
Mitch
Mitchell S. Moses DVM, MBA
Chairman; Board of Trustees
Grace Academy of North Texas
Mitchell.Moses@GraceAcademy-NT.org
469-766-2552
Item 8
Item 8
Item 8
Item 8
Item 8
Item 8
Item 8
Page 1 of 3
To: Mayor and Town Council
From: Robyn Battle, Town Secretary
Through: Harlan Jefferson, Town Manager
Re: Town Council Meeting – January 28, 2014
Agenda Item:
Consider and act upon adopting an ordinance amending Article 4.02 of Chapter 4 of the Code of
Ordinances related to the 2006 mixed beverage election and alcohol permit fees to be collected
by the Town.
Description of Agenda Item:
At the January 28, 2014, Town Council meeting, the Town Council was provided with an update
on the TABC fees for alcohol permits. The Town’s ordinance currently allows for the collection
of local permit fees.
The chart below outlines the fees a typical establishment in the Town of Prosper would pay for
alcohol permits under the current TABC fee schedule:
Permit
Applicant Type of Permit Operating Year Fees Due
to TABC
Fees Due to
Town of
Prosper
Convenience
Store, Grocery
Store
BQ – Wine and Beer
Retailer’s Off-Premise
Permit
Original and
Renewals
(every two years)
$120 $60
Restaurant
serving Mixed
Beverages
RM – Mixed Beverage
Restaurant Permit with FB
(Food and Beverage
Certificate)
Original
(first 2 years) $6,000 $0
1st Renewal
(2 years) $4,500
$1,125
(half of first
renewal)
2nd Renewal
(2 years) $3,000 $1,500
3rd and Subsequent
Renewals
(2 years each)
$1,500 $750
Restaurant
serving Beer &
Wine
BG – Wine and Beer
Retailer’s Permit (must
have Food and Beverage
Certificate)
Original and
Renewals
(every two years)
$350 $175
Prosper is a place where everyone matters.
ADMINISTRATION
Item 9
Page 2 of 3
Town staff has compiled information on the staff time required to process an alcohol permit.
The breakdown of staff time for certifying and processing permit payments is as follows:
Initial Application
Town Secretary
Review and certify application
Verify location on wet/dry map 15 minutes
Development Services
Verify zoning and distance requirements 1 hour, 30 minutes
Total: 1 hour, 45 minutes
Additional Time for Permit Processing
Town Secretary
Collect and record payment
Create and issue permit
Send reminder notice when renewal permit is due 15 minutes
Finance Staff
Record and process payment for deposit 10 minutes
Total: 25 minutes
Total staff time to process alcohol permit fee: 2 hours, 10 minutes per permit
Total staff time to certify an initial application is approximately 1 hour, 45 minutes. The
additional time required by staff to issue a local permit is 25 minutes. This brings the total staff
time to about 2 hours, 10 minutes per permit.
Legal Obligations and Review:
Terry Welch with Brown & Hofmeister, L.L.P., has reviewed the attached ordinances as to form
and legality.
Attached Documents:
1. Ordinance to amend
2. Ordinance to repeal
Town Staff Recommendation:
Town staff recommends the Town Council adopt an ordinance amending Article 4.02 of Chapter
4 of the Code of Ordinances related to the 2006 mixed beverage election and alcohol permit
fees to be collected by the Town.
Proposed Motion to Amend the Current Ordinance:
I move to adopt an ordinance amending Article 4.02 of Chapter 4 of the Code of Ordinances
related to the 2006 mixed beverage election and alcohol permit fees to be collected by the
Town.
or
Item 9
Page 3 of 3
Proposed Motion to Repeal the Current Ordinance:
I move to adopt an ordinance amending Article 4.02 of Chapter 4 of the Code of Ordinances
related to the 2006 mixed beverage election and to repeal Ordinance No. 06-102, and to repeal
Division 2 of Article 4.02 of Chapter 4 of the Code of Ordinances related to alcohol permit fees
to be collected by the Town.
Item 9
TOWN OF PROSPER, TEXAS ORDINANCE NO. 14-__
AN ORDINANCE OF THE TOWN COUNCIL OF THE TOWN OF PROSPER,
TEXAS, AMENDING DIVISION 1, “GENERALLY,” OF ARTICLE 4.02,
“ALCOHOLIC BEVERAGES,” OF CHAPTER 4, “BUSINESS REGULATIONS,”
BY ADDING A NEW SECTION 4.02.002, ENTITLED “SALE OF MIXED
BEVERAGES;” REPEALING ORDINANCE NO. 06-102 IN ITS ENTIRETY;
REPEALING EXISTING DIVISION 2, “PERMITS AND LICENSES,” OF
ARTICLE 4.02, “ALCOHOLIC BEVERAGES,” OF CHAPTER 4, “BUSINESS
REGULATIONS,” OF THE CODE OF ORDINANCES OF THE TOWN OF
PROSPER, TEXAS, AND REPLACING SAME BY ADDING A NEW DIVISION
2, “PERMITS AND LICENSES,” OF ARTICLE 4.02, “ALCOHOLIC
BEVERAGES,” OF CHAPTER 4, “BUSINESS REGULATIONS;” MAKING
FINDINGS RELATED THERETO; PROVIDING A PENALTY FOR THE
VIOLATION OF THIS ORDINANCE; PROVIDING REPEALING, SAVINGS AND
SEVERABILITY CLAUSES; PROVIDING FOR AN EFFECTIVE DATE; AND
PROVIDING FOR THE PUBLICATION OF THE CAPTION HEREOF.
WHEREAS, on or about May 13, 2006, voters in the Town of Prosper, Texas, approved
a proposition to permit the sale of mixed beverages in restaurants by food and beverage
certificate holders only; and
WHEREAS, thereafter, the Town Council of the Town of Prosper, Texas (“Town
Council”), adopted Ordinance No. 06-102 on or about September 12, 2006, which Ordinance
provided, in part, for fees for licenses and permits related to alcoholic beverages and further,
repealed Ordinance No. 04-57 in its entirety; and
WHEREAS, it has been found that the Town’s Code of Ordinances, as currently
codified, does not reflect any amendments contemplated by Ordinance No. 06-102, and in fact,
the codified version of Division 2, “Permits and Licenses,” of Article 4.02, “Alcoholic Beverages,”
of Chapter 4, “Business Regulations,” of the Code of Ordinances reflects language contained in
repealed Ordinance No. 04-57; and
WHEREAS, in an effort to clarify Division 2, “Permits and Licenses,” of Article 4.02,
“Alcoholic Beverages,” of Chapter 4, “Business Regulations,” of the Code of Ordinances, said
Division as well as Ordinance No. 06-102 should be repealed so that it is clear and
unambiguous about what provisions and fees currently apply.
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF
PROSPER, TEXAS, THAT:
SECTION 1
The findings set forth above are hereby found to be true and correct and are
incorporated into the body of this Ordinance as if fully set forth herein.
SECTION 2
From and after the effective date of this Ordinance, Division 1, “Generally,” of Article
4.02, “Alcoholic Beverages,” of Chapter 4, “Business Regulations,” of the Code of Ordinances is
hereby amended by adding a new Section 4.02.002, to read as follows:
Item 9
Ordinance No. 14-__, Page 2
“Sec. 4.02.002 Sale of mixed beverages
At the local option election of the town held on May 13, 2006, the voters approved proposition
no. 1 for the legal sale of mixed beverages in restaurants by food and beverage certificate
holders only.
Secs. 4.02.003—Sec. 4.02.030 Reserved.”
SECTION 3
Ordinance No. 06-102 is repealed in its entirety, and the effective date of the repeal shall
not occur until the effective date of this Ordinance at which time Ordinance No. 06-102 shall be
repealed.
SECTION 4
From and after the effective date of this Ordinance, existing Division 2, “Permits and
Licenses,” of Article 4.02, “Alcoholic Beverages,” of Chapter 4, “Business Regulations,” of the
Code of Ordinances is hereby repealed in its entirety, and shall be replaced with a new Division
2, “Permits and Licenses,” of Article 4.02, “Alcoholic Beverages,” of Chapter 4, “Business
Regulations,” of the Code of Ordinances to read as follows:
“Division 2. Permits and Licenses
Sec. 4.02.031 Permit required, fee
It shall be unlawful for any person to manufacture, distill, brew, import, transport, store for
purposes of sale, distribute or sell any beer, wine or other alcoholic beverage within the town
without having first paid a town permit fee equal to one-half of the state fee required by the
Alcoholic Beverage Code, as may be amended from time to time, of every person who may be
issued any permit or license or renew such permit or license by the state for the manufacture,
distilling, brewing, importing, transporting, storing, distributing or sale of any beer, wine or other
alcoholic beverage. Such permit fee shall be paid to the town secretary every two years. The
town secretary shall issue a receipt for the permit fee and keep a record of the same in the town
secretary’s office. All receipts issued for the payment of permit fees under the terms of this
section shall terminate at midnight on the day before the anniversary date of their issuance, and
no receipt shall be issued covering a longer term than two years.
Sec. 4.02.032 Processing procedures
Before the town secretary shall sign any application for a permit or license under the Alcoholic
Beverage Code, or any renewal, such application shall be submitted to the appropriate town
departments, as determined by the town manager, to ensure that the application complies with
all town ordinances and regulations and are for establishments located in a wet area.”
Item 9
Ordinance No. 14-__, Page 3
SECTION 5
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 repeal prevent a prosecution from being commenced for
any violation if occurring prior to the repeal of the ordinance. Any remaining portion of
conflicting ordinances shall remain in full force and effect.
SECTION 6
If any section, subsection, sentence, clause or phrase of this Ordinance is for any
reason held to be unconstitutional or invalid by a court of competent jurisdiction, such decision
shall not affect the validity of the remaining portions of this Ordinance. The Town 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.
SECTION 7
Any person, firm, corporation or business entity violating this Ordinance shall be deemed
guilty of a misdemeanor, and upon conviction thereof shall be subject to a fine not to exceed the
sum of Five Hundred Dollars ($500.00), and each and every day such violation shall continue
shall constitute a separate offense.
SECTION 8
This Ordinance shall become effective from and after its adoption and publication as
required by law.
DULY PASSED, APPROVED, AND ADOPTED BY THE TOWN COUNCIL OF THE
TOWN OF PROSPER, TEXAS, ON THIS 11TH DAY OF FEBRUARY, 2014.
___________________________________
Ray Smith, Mayor
ATTEST:
_________________________________
Robyn Battle, Town Secretary
APPROVED AS TO FORM AND LEGALITY:
_________________________________
Terrence S. Welch, Town Attorney
Item 9
TOWN OF PROSPER, TEXAS ORDINANCE NO. 14-__
AN ORDINANCE OF THE TOWN COUNCIL OF THE TOWN OF PROSPER,
TEXAS, AMENDING DIVISION 1, “GENERALLY,” OF ARTICLE 4.02,
“ALCOHOLIC BEVERAGES,” OF CHAPTER 4, “BUSINESS REGULATIONS,”
BY ADDING A NEW SECTION 4.02.002, ENTITLED “SALE OF MIXED
BEVERAGES;” REPEALING IN ITS ENTIRETY EXISTING DIVISION 2,
“PERMITS AND LICENSES,” OF ARTICLE 4.02, “ALCOHOLIC
BEVERAGES,” OF CHAPTER 4, “BUSINESS REGULATIONS,” OF THE
CODE OF ORDINANCES OF THE TOWN OF PROSPER, TEXAS; MAKING
FINDINGS RELATED THERETO; PROVIDING REPEALING, SAVINGS AND
SEVERABILITY CLAUSES; PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, on or about May 13, 2006, voters in the Town of Prosper, Texas, approved
a proposition to permit the sale of mixed beverages in restaurants by food and beverage
certificate holders only; and
WHEREAS, thereafter, the Town Council of the Town of Prosper, Texas (“Town
Council”), adopted Ordinance No. 06-102 on or about September 12, 2006, which Ordinance
provided, in part, for fees for licenses and permits related to alcoholic beverages and further,
repealed Ordinance No. 04-57 in its entirety; and
WHEREAS, it has been found that the Town’s Code of Ordinances, as currently
codified, does not reflect any amendments contemplated by Ordinance No. 06-102, and in fact,
the codified version of Division 2, “Permits and Licenses,” of Article 4.02, “Alcoholic Beverages,”
of Chapter 4, “Business Regulations,” of the Code of Ordinances reflects language contained in
repealed Ordinance No. 04-57; and
WHEREAS, it is the desire of the Town Council of the Town of Prosper, Texas, to repeal
any and all permit fees currently referenced in Division 2, “Permits and Licenses,” of Article
4.02, “Alcoholic Beverages,” of Chapter 4, “Business Regulations,” of the Code of Ordinances,
said Division as well as Ordinance No. 06-102 so that it is clear and unambiguous that no fees
shall be collected by the Town relative to permits issued by the Texas Alcoholic Beverage
Commission for locations in the Town.
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF
PROSPER, TEXAS, THAT:
SECTION 1
The findings set forth above are hereby found to be true and correct and are
incorporated into the body of this Ordinance as if fully set forth herein.
SECTION 2
From and after the effective date of this Ordinance, Division 1, “Generally,” of Article
4.02, “Alcoholic Beverages,” of Chapter 4, “Business Regulations,” of the Code of Ordinances is
hereby amended by adding a new Section 4.02.002, to read as follows:
Item 9
Ordinance No. 14-__, Page 2
“Sec. 4.02.002 Sale of mixed beverages
At the local option election of the town held on May 13, 2006, the voters approved proposition
no. 1 for the legal sale of mixed beverages in restaurants by food and beverage certificate
holders only.
Secs. 4.02.003—Sec. 4.02.030 Reserved.”
SECTION 3
Ordinance No. 06-102 is repealed in its entirety, and the effective date of the repeal shall
not occur until the effective date of this Ordinance at which time Ordinance No. 06-102 shall be
repealed.
SECTION 4
From and after the effective date of this Ordinance, existing Division 2, “Permits and
Licenses,” of Article 4.02, “Alcoholic Beverages,” of Chapter 4, “Business Regulations,” of the
Code of Ordinances is hereby repealed in its entirety.
SECTION 5
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 repeal prevent a prosecution from being commenced for
any violation if occurring prior to the repeal of the ordinance. Any remaining portion of
conflicting ordinances shall remain in full force and effect.
SECTION 6
If any section, subsection, sentence, clause or phrase of this Ordinance is for any
reason held to be unconstitutional or invalid by a court of competent jurisdiction, such decision
shall not affect the validity of the remaining portions of this Ordinance. The Town 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.
SECTION 7
This Ordinance shall become effective from and after its adoption.
DULY PASSED, APPROVED, AND ADOPTED BY THE TOWN COUNCIL OF THE
TOWN OF PROSPER, TEXAS, ON THIS 11TH DAY OF FEBRUARY, 2014.
___________________________________
Ray Smith, Mayor
Item 9
Ordinance No. 14-__, Page 3
ATTEST:
_________________________________
Robyn Battle, Town Secretary
APPROVED AS TO FORM AND LEGALITY:
_________________________________
Terrence S. Welch, Town Attorney
Item 9
Page 1 of 2
To: Mayor and Town Council
From: Kent R. Austin, Finance Director
Through: Harlan Jefferson, Town Manager
Re: Town Council Meeting – February 11, 2014
Agenda Item:
Consider and act upon all matters incident and related to the issuance and sale of the Town of
Prosper, Texas, Combination Tax and Surplus Revenue Certificates of Obligation, Series 2014,
including the adoption of an ordinance authorizing the issuance of such Certificates, approving
an Official Statement, a Bond Purchase Agreement, a Paying Agent/Registrar Agreement, and
an engagement letter of Bond Counsel.
Description of Agenda Item:
On December 16, 2013, the Town Council approved a resolution directing staff to publish notice
of the Town’s intent to issue Town of Prosper Combination Tax and Surplus Revenue
Certificates of Obligation to fund the Town’s share of the Doe Branch wastewater treatment
plant, in an amount not to exceed $16 million. The plant is being built by the Upper Trinity
Regional Water District for the benefit of Prosper, the City of Celina, Mustang Special Utility
District, and Denton County Fresh Water Supply District #10. UTRWD is issuing its own bonds
to fund the remainder of the project.
Prosper staff proposes funding $13 million of its $16 million share by debt, with the remaining $3
million funded by cash in the Water/Sewer Fund.
At a meeting of the participants on January 17, it became apparent that the original overall
timetable required modification. Consequently, Prosper agreed to postpone its bond issuance
from February 11 to February 25.
Budget Impact:
If the Certificates of Obligation are approved, debt service payments would begin, totaling
$251,334 in FY 2014 and $982,669 in FY 2015. These amounts would be integrated into the
Town’s water and sewer rates. The annual amount of debt service for the Certificates would be
approximately $982,000 from FY 2016 through FY 2034.
Legal Obligations and Review:
Dan Culver, with McCall, Parkhurst & Horton L.L.P., serves as the Town’s Bond Counsel and
has written the authorizing ordinance.
Attached Documents:
1. Ordinance authorizing the issuance and sale of Town of Prosper, Texas, Combination Tax
and Surplus Revenue Certificates of Obligation, Series 2014.
Prosper is a place where everyone matters.
FINANCE
Item 10
Page 2 of 2
Town Staff Recommendation:
Staff recommends rescheduling the adoption of an ordinance authorizing the issuance of the
Town’s Combination Tax and Surplus Revenues Certificates of Obligation to the February 25
Town Council meeting.
Proposed Motion:
I move to reschedule adoption of an ordinance authorizing the issuance of the Town’s
Combination Tax and Surplus Revenue Certificates of Obligation, Series 2014, to the Town
Council meeting scheduled to begin at 6:00 p.m. on February 25, 2014, at the Prosper
Municipal Chambers, 108 W. Broadway, Prosper, Texas.
Item 10
ORDINANCE NO. 14-__
OF THE TOWN OF PROSPER, TEXAS
AUTHORIZING THE ISSUANCE OF
TOWN OF PROSPER, TEXAS
COMBINATION TAX AND SURPLUS REVENUE
CERTIFICATES OF OBLIGATION, SERIES 2014
Item 10
i
TABLE OF CONTENTS
Section 1. Recitals, Amount and Purpose of the Certificates ............................1
Section 2. Designation, Date, Denominations, Numbers, Maturities of Certificates and Interest
Rates..................................................................2
Section 3. Characteristics of the Certificates ........................................2
Section 4. Form of Certificates...................................................6
Section 5. Interest and Sinking Fund .............................................13
Section 6. Surplus Revenues....................................................14
Section 7. Defeasance of Certificates.............................................14
Section 8. Damaged, Mutilated, Lost, Stolen, or Destroyed Certificates ..................15
Section 9. Custody, Approval, and Registration of Certificates; Bond Counsel's Opinion and
Engagement; Attorney General Filing Fee; CUSIP Numbers; Other Procedures......16
Section 10. Covenants Regarding Tax Exemption of Interest on the Certificates ...........17
Section 11. Sale of Certificates; Approval of Official Statement; Application of Premium ...19
Section 12. Allocation of Certificate Proceeds ......................................20
Section 13. Disposition of Project................................................20
Section 14. Interest Earnings on Certificate Proceeds ................................20
Section 15. Construction Fund ..................................................21
Section 16. Compliance with Rule 15c2-12 ........................................21
Section 17. Method of Amendment ..............................................24
Section 18. Continued Perfection of Security Interest ................................25
Section 19. Inconsistent Provisions ..............................................26
Section 20. Governing Law ....................................................26
Section 21. Severability .......................................................26
Item 10
ii
Section 22. Events of Default ...................................................26
Section 23. Remedies for Default ................................................26
Section 24. Remedies Not Exclusive .............................................26
Section 25. Effective Date .....................................................27
Exhibit A: Continuing Disclosure Information ................................... A-1
Item 10
ORDINANCE NO. 14-__
AUTHORIZING THE ISSUANCE AND SALE OF TOWN OF PROSPER, TEXAS
COMBINATION TAX AND SURPLUS REVENUE CERTIFICATES OF OBLIGATION,
SERIES 2014; LEVYING AN ANNUAL AD VALOREM TAX FOR THE PAYMENT OF
SAID CERTIFICATES AND PROVIDING OTHER SECURITY; APPROVING AN
OFFICIAL STATEMENT AND A PAYING AGENT/REGISTRAR AGREEMENT;
ENGAGING BOND COUNSEL; AND ENACTING OTHER PROVISIONS RELATING TO
THE SUBJECT
THE STATE OF TEXAS §
COLLIN AND DENTON COUNTIES §
TOWN OF PROSPER §
WHEREAS, the Town Council of the Town of Prosper, Texas (the "Issuer") deems it
advisable to issue Certificates of Obligation in the principal amount of $13,090,000 for paying all
or a portion of the Town's contractual obligations incurred in connection with extending,
constructing and improving the Town's sewer system, including acquiring sewage treatment capacity
in the Doe Branch Water Reclamation Plant of the Upper Trinity Regional Water District ("Upper
Trinity"), which is to be owned and operated by Upper Trinity as part of its Northeast Regional
Water Reclamation System, and for paying legal, fiscal, engineering and architectural fees in
connection with these projects; and
WHEREAS, the Certificates of Obligation hereinafter authorized and designated are to be
issued and delivered for cash pursuant to Subchapter C of Chapter 271, Local Government Code,
as amended, and particularly Section 271.045(c) thereof, and Chapter 1502, Government Code, as
amended; and
WHEREAS, the Town Council has heretofore passed a resolution authorizing and directing
the Town Secretary to give notice of intention to issue Certificates of Obligation; and
WHEREAS, said notice has been duly published in a newspaper of general circulation in the
Issuer, said newspaper being a "newspaper" as defined in §2051.044, Texas Government Code; and
WHEREAS, said notice indicated that this Ordinance would be considered for adoption by
the Town Council at a meeting of the Council to be held on February 11, 2014; and
WHEREAS, the Town Council considered it necessary and appropriate to defer the date of
adoption of the Ordinance to a meeting held on February 25, 2014, and therefore, in open meeting
on February 11, 2014 it was announced that this matter would be deferred to February 25, 2014; and
WHEREAS, to the time of adoption of this Ordinance, the Issuer received no petition from
the qualified electors of the Issuer protesting the issuance of such Certificates of Obligation; and
WHEREAS, it is considered to be to the best interest of the Issuer that said interest bearing
Certificates of Obligation be issued.
Item 10
2
BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF PROSPER:
Section 1. RECITALS, AMOUNT AND PURPOSE OF THE CERTIFICATES. The
recitals set forth in the preamble hereof are incorporated herein and shall have the same force and
effect as if set forth in this Section. The certificates of the Issuer are hereby authorized to be issued
and delivered in the aggregate principal amount of $13,090,000 for the purpose of paying all or a
portion of the Town's contractual obligations incurred in connection with extending, constructing
and improving the Town's sewer system, including acquiring sewage treatment capacity in the Doe
Branch Water Reclamation Plant of the Upper Trinity Regional Water District ("Upper Trinity"),
which is to be owned and operated by Upper Trinity as part of its Northeast Regional Water
Reclamation System, and for paying legal, fiscal, engineering and architectural fees in connection
with these projects (collectively, the "Project").
Section 2. DESIGNATION, DATE, DENOMINATIONS, NUMBERS, MATURITIES OF
CERTIFICATES AND INTEREST RATES. Each certificate issued pursuant to this Ordinance shall
be designated: "TOWN OF PROSPER, TEXAS, COMBINATION TAX AND SURPLUS
REVENUE CERTIFICATE OF OBLIGATION, SERIES 2014", and initially there shall be issued,
sold, and delivered hereunder one fully registered certificate, without interest coupons, dated
February 15, 2014, in the principal amount stated above and in the denominations hereinafter stated,
numbered T-1, with certificates issued in replacement thereof being in the denominations and
principal amounts hereinafter stated and numbered consecutively from R-1 upward, payable to the
respective Registered Owners thereof (with the initial certificate being made payable to the initial
purchaser as described in Section 11 hereof), or to the registered assignee or assignees of said
certificates or any portion or portions thereof (in each case, the "Registered Owner"). The
Certificates shall mature on August 15 in the years and in the principal amounts and interest rates
set forth below, interest on each Certificate accruing on the basis of a 360-day year of twelve 30-day
months from the date of initial delivery of the Certificates to the purchaser thereof or the most recent
interest payment date to which interest has been paid or provided for at the per annum rates of
interest, payable semiannually on February 15 and August 15 of each year until the principal amount
shall have been paid or provision for such payment shall have been made, commencing February
15, 2014, as follows:
Year
Principal
Amount
Interest
Rate Year
Principal
Amount
Interest
Rate
2015 2025
2016 2026
2017 2027
2018 2028
2019 2029
2020 2030
2021 2031
2022 2032
2023 2033
2024 2034
2035
Item 10
3
Section 3. CHARACTERISTICS OF THE CERTIFICATES. (a) Registration, Transfer,
Conversion and Exchange; Authentication. The Issuer shall keep or cause to be kept at the corporate
trust office of U.S. Bank National Association, Dallas, Texas, the "Paying Agent/Registrar"), books
or records for the registration of the transfer, conversion and exchange of the Certificates (the
"Registration Books"), and the Issuer hereby appoints the Paying Agent/Registrar as its registrar and
transfer agent to keep such books or records and make such registrations of transfers, conversions
and exchanges under such reasonable regulations as the Issuer and Paying Agent/Registrar may
prescribe; and the Paying Agent/Registrar shall make such registrations, transfers, conversions and
exchanges as herein provided. The Paying Agent/Registrar shall obtain and record in the
Registration Books the address of the registered owner of each Certificate to which payments with
respect to the Certificates shall be mailed, as herein provided; but it shall be the duty of each
registered owner to notify the Paying Agent/Registrar in writing of the address to which payments
shall be mailed, and such interest payments shall not be mailed unless such notice has been given.
The Issuer shall have the right to inspect the Registration Books during regular business hours of
the Paying Agent/Registrar, but otherwise the Paying Agent/Registrar shall keep the Registration
Books confidential and, unless otherwise required by law, shall not permit their inspection by any
other entity. The Issuer shall pay the Paying Agent/Registrar's standard or customary fees and
charges for making such registration, transfer, conversion, exchange and delivery of a substitute
Certificate or Certificates. Registration of assignments, transfers, conversions and exchanges of
Certificates shall be made in the manner provided and with the effect stated in the FORM OF
CERTIFICATE set forth in this Ordinance. Each substitute Certificate shall bear a letter and/or
number to distinguish it from each other Certificate.
Except as provided in Section 3(c) of this Ordinance, an authorized representative of the
Paying Agent/Registrar shall, before the delivery of any such Certificate, date and manually sign
said Certificate, and no such Certificate shall be deemed to be issued or outstanding unless such
Certificate is so executed. The Paying Agent/Registrar promptly shall cancel all paid Certificates
and Certificates surrendered for conversion and exchange. No additional ordinances, orders, or
resolutions need be passed or adopted by the governing body of the Issuer or any other body or
person so as to accomplish the foregoing conversion and exchange of any Certificate or portion
thereof, and the Paying Agent/Registrar shall provide for the printing, execution, and delivery of the
substitute Certificates in the manner prescribed herein, and said Certificates shall be printed or typed
on paper of customary weight and strength. Pursuant to Chapter 1201, Government Code, and
particularly Subchapter D thereof, the duty of conversion and exchange of Certificates as aforesaid
is hereby imposed upon the Paying Agent/Registrar, and, upon the execution of said Certificate, the
converted and exchanged Certificate shall be valid, incontestable, and enforceable in the same
manner and with the same effect as the Certificates that initially were issued and delivered pursuant
to this Ordinance, approved by the Attorney General and registered by the Comptroller of Public
Accounts.
(b) Payment of Certificates and Interest. The Issuer hereby further appoints the Paying
Agent/Registrar to act as the paying agent for paying the principal of and interest on the Certificates,
all as provided in this Ordinance. The Paying Agent/Registrar shall keep proper records of all
Item 10
4
payments made by the Issuer and the Paying Agent/Registrar with respect to the Certificates, and
of all conversions and exchanges of Certificates, and all replacements of Certificates, as provided
in this Ordinance. However, in the event of a nonpayment of interest on a scheduled payment date,
and for thirty (30) days thereafter, a new record date for such interest payment (a "Special Record
Date") will be established by the Paying Agent/Registrar, if and when funds for the payment of such
interest have been received from the Issuer. Notice of the past due interest shall be sent at least five
(5) business days prior to the Special Record Date by United States mail, first-class postage prepaid,
to the address of each registered owner appearing on the Registration Books at the close of business
on the last business day next preceding the date of mailing of such notice.
(c) In General. The Certificates (i) shall be issued in fully registered form, without
interest coupons, with the principal of and interest on such Certificates to be payable only to the
registered owners thereof, (ii) may be redeemed prior to their scheduled maturities (notice of which
shall be given to the Paying Agent/Registrar by the Issuer at least 35 days prior to any such
redemption date), (iii) may be converted and exchanged for other Certificates, (iv) may be
transferred and assigned, (v) shall have the characteristics, (vi) shall be signed, sealed, executed and
authenticated, (vii) the principal of and interest on the Certificates shall be payable, and (viii) shall
be administered and the Paying Agent/Registrar and the Issuer shall have certain duties and
responsibilities with respect to the Certificates, all as provided, and in the manner and to the effect
as required or indicated, in the FORM OF CERTIFICATE set forth in this Ordinance. The
Certificate initially issued and delivered pursuant to this Ordinance is not required to be, and shall
not be, authenticated by the Paying Agent/Registrar, but on each substitute Certificate issued in
conversion of and exchange for any Certificate or Certificates issued under this Ordinance the
Paying Agent/Registrar shall execute the PAYING AGENT/REGISTRAR'S AUTHENTICATION
CERTIFICATE, in the form set forth in the FORM OF CERTIFICATE.
(d) Book-Entry Only System. The Certificates issued in exchange for the Certificate
initially issued to the initial purchaser specified herein shall be initially issued in the form of a
separate single fully registered Certificate for each of the maturities thereof. Upon initial issuance,
the ownership of each such Certificate shall be registered in the name of Cede & Co., as nominee
of The Depository Trust Company, New York, New York ("DTC"), and except as provided in
subsection (f) hereof, all of the outstanding Certificates shall be registered in the name of Cede &
Co., as nominee of DTC.
With respect to Certificates registered in the name of Cede & Co., as nominee of DTC, the
Issuer and the Paying Agent/Registrar shall have no responsibility or obligation to any securities
brokers and dealers, banks, trust companies, clearing corporations and certain other organizations
on whose behalf DTC was created ("DTC Participant") to hold securities to facilitate the clearance
and settlement of securities transactions among DTC Participants or to any person on behalf of
whom such a DTC Participant holds an interest in the Certificates. Without limiting the immediately
preceding sentence, the Issuer and the Paying Agent/Registrar shall have no responsibility or
obligation with respect to (i) the accuracy of the records of DTC, Cede & Co. or any DTC
Participant with respect to any ownership interest in the Certificates, (ii) the delivery to any DTC
Participant or any other person, other than a Registered Owner of Certificates, as shown on the
Item 10
5
Registration Books, of any notice with respect to the Certificates, or (iii) the payment to any DTC
Participant or any other person, other than a Registered Owner of Certificates, as shown in the
Registration Books of any amount with respect to principal of or interest on the Certificates.
Notwithstanding any other provision of this Ordinance to the contrary, the Issuer and the Paying
Agent/Registrar shall be entitled to treat and consider the person in whose name each Certificate is
registered in the Registration Books as the absolute owner of such Certificate for the purpose of
payment of principal and interest with respect to such Certificate, for the purpose of registering
transfers with respect to such Certificate, and for all other purposes whatsoever. The Paying
Agent/Registrar shall pay all principal of and interest on the Certificates only to or upon the order
of the Registered Owners, as shown in the Registration Books as provided in this Ordinance, or their
respective attorneys duly authorized in writing, and all such payments shall be valid and effective
to fully satisfy and discharge the Issuer's obligations with respect to payment of principal of and
interest on the Certificates to the extent of the sum or sums so paid. No person other than a
Registered Owner, as shown in the Registration Books, shall receive a Certificate evidencing the
obligation of the Issuer to make payments of principal and interest pursuant to this Ordinance. Upon
delivery by DTC to the Paying Agent/Registrar of written notice to the effect that DTC has
determined to substitute a new nominee in place of Cede & Co., and subject to the provisions in this
Ordinance with respect to interest checks being mailed to the Registered Owner at the close of
business on the Record date, the words "Cede & Co." in this Ordinance shall refer to such new
nominee of DTC.
(e) Successor Securities Depository; Transfers Outside Book-Entry Only System. In the
event that the Issuer determines that DTC is incapable of discharging its responsibilities described
herein and in the representations letter of the Issuer to DTC or that it is in the best interest of the
beneficial owners of the Certificates that they be able to obtain certificated Certificates, the Issuer
shall (i) appoint a successor securities depository, qualified to act as such under Section 17A of the
Securities and Exchange Act of 1934, as amended, notify DTC and DTC Participants of the
appointment of such successor securities depository and transfer one or more separate Certificates
to such successor securities depository or (ii) notify DTC and DTC Participants of the availability
through DTC of Certificates and transfer one or more separate certificated Certificates to DTC
Participants having Certificates credited to their DTC accounts. In such event, the Certificates shall
no longer be restricted to being registered in the Registration Books in the name of Cede & Co., as
nominee of DTC, but may be registered in the name of the successor securities depository, or its
nominee, or in whatever name or names Registered Owners transferring or exchanging Certificates
shall designate, in accordance with the provisions of this Ordinance.
(f) Payments to Cede & Co. Notwithstanding any other provision of this Ordinance to
the contrary, so long as any Certificate is registered in the name of Cede & Co., as nominee of DTC,
all payments with respect to principal of and interest on such Certificate and all notices with respect
to such Certificate shall be made and given, respectively, in the manner provided in the
representations letter of the Issuer to DTC.
(g) Cancellation of Initial Certificate. On the closing date, one initial Certificate
representing the entire principal amount of the Certificates, payable in stated installments to the
Item 10
6
purchaser designated in Section 11 or its designee, executed by manual or facsimile signature of the
Mayor (or in the absence thereof, by the Mayor Pro-tem) and Town Secretary of the Issuer,
approved by the Attorney General of Texas, and registered and manually signed by the Comptroller
of Public Accounts of the State of Texas, will be delivered to such purchaser or its designee. Upon
payment for the initial Certificate, the Paying Agent/Registrar shall cancel the initial Certificate and
deliver to the Depository Trust Company on behalf of such purchaser one registered definitive
Certificate for each year of maturity of the Certificates, in the aggregate principal amount of all of
the Certificates for such maturity.
(h) Conditional Notice of Redemption. With respect to any optional redemption of the
Certificates, unless certain prerequisites to such redemption required by this Ordinance have been
met and moneys sufficient to pay the principal of and premium, if any, and interest on the
Certificates to be redeemed shall have been received by the Paying Agent/Registrar prior to the
giving of such notice of redemption, such notice shall state that said redemption may, at the option
of the Issuer, be conditional upon the satisfaction of such prerequisites and receipt of such moneys
by the Paying Agent/Registrar on or prior to the date fixed for such redemption, or upon any
prerequisite set forth in such notice of redemption. If a conditional notice of redemption is given
and such prerequisites to the redemption and sufficient moneys are not received, such notice shall
be of no force and effect, the Issuer shall not redeem such Certificates and the Paying
Agent/Registrar shall give notice, in the manner in which the notice of redemption was given, to the
effect that the Certificates have not been redeemed.
Section 4. FORM OF CERTIFICATES. The form of the Certificates, including the form
of Paying Agent/Registrar's Authentication Certificate, the form of Assignment and the form of
Registration Certificate of the Comptroller of Public Accounts of the State of Texas to be attached
to the Certificates initially issued and delivered pursuant to this Ordinance, shall be, respectively,
substantially as follows, with such appropriate variations, omissions or insertions as are permitted
or required by this Ordinance.
(a) [Form of Certificate]
NO. R- UNITED STATES OF AMERICA
STATE OF TEXAS
TOWN OF PROSPER, TEXAS
COMBINATION TAX AND SURPLUS REVENUE
CERTIFICATE OF OBLIGATION, SERIES 2014
PRINCIPAL
AMOUNT
$
Interest Rate Date of Initial Delivery Maturity Date CUSIP No.
March __, 2014 August 15,____
REGISTERED OWNER:
Item 10
7
PRINCIPAL AMOUNT: DOLLARS
ON THE MATURITY DATE specified above, the Town of Prosper, in Collin and Denton
Counties, Texas (the "Issuer"), being a political subdivision and municipal corporation of the State
of Texas, hereby promises to pay to the Registered Owner specified above, or registered assigns
(hereinafter called the "Registered Owner"), on the Maturity Date specified above, the Principal
Amount specified above. The Issuer promises to pay interest on the unpaid principal amount hereof
(calculated on the basis of a 360-day year of twelve 30-day months) from the Date of Initial Delivery
set forth above at the Interest Rate per annum specified above. Interest is payable on August 15,
2014 and semiannually on each February 15 and August 15 thereafter to the Maturity Date specified
above, or the date of redemption prior to maturity; except, if this Certificate is required to be
authenticated and the date of its authentication is later than the first Record Date (hereinafter
defined), such Principal Amount shall bear interest from the interest payment date next preceding
the date of authentication, unless such date of authentication is after any Record Date but on or
before the next following interest payment date, in which case such principal amount shall bear
interest from such next following interest payment date; provided, however, that if on the date of
authentication hereof the interest on the Certificate or Certificates, if any, for which this Certificate
is being exchanged is due but has not been paid, then this Certificate shall bear interest from the date
to which such interest has been paid in full.
THE PRINCIPAL OF AND INTEREST ON this Certificate are payable in lawful money
of the United States of America, without exchange or collection charges. The principal of this
Certificate shall be paid to the registered owner hereof upon presentation and surrender of this
Certificate at maturity, or upon the date fixed for its redemption prior to maturity, at the corporate
trust office of U.S. Bank National Association in Dallas, Texas, which is the "Paying
Agent/Registrar" for this Certificate. The payment of interest on this Certificate shall be made by
the Paying Agent/Registrar to the registered owner hereof on each interest payment date by check
or draft, dated as of such interest payment date, drawn by the Paying Agent/Registrar on, and
payable solely from, funds of the Issuer required by the ordinance authorizing the issuance of this
Certificate (the "Certificate Ordinance") to be on deposit with the Paying Agent/Registrar for such
purpose as hereinafter provided; and such check or draft shall be sent by the Paying Agent/Registrar
by United States mail, first-class postage prepaid, on each such interest payment date, to the
registered owner hereof, at its address as it appeared on the last day of the month preceding each
such date (the "Record Date") on the Registration Books kept by the Paying Agent/Registrar, as
hereinafter described. In addition, interest may be paid by such other method, acceptable to the
Paying Agent/Registrar, requested by, and at the risk and expense of, the registered owner. In the
event of a non-payment of interest on a scheduled payment date, and for 30 days thereafter, a new
record date for such interest payment (a "Special Record Date") will be established by the Paying
Agent/Registrar, if and when funds for the payment of such interest have been received from the
Issuer. Notice of the Special Record Date and of the scheduled payment date of the past due interest
(which shall be 15 days after the Special Record Date) shall be sent at least five business days prior
to the Special Record Date by United States mail, first-class postage prepaid, to the address of each
owner of a Certificate appearing on the Registration Books at the close of business on the last
business day next preceding the date of mailing of such notice.
Item 10
8
ANY ACCRUED INTEREST due at maturity or upon the redemption of this Certificate
prior to maturity as provided herein shall be paid to the registered owner upon presentation and
surrender of this Certificate for redemption and payment at the corporate trust office of the Paying
Agent/Registrar. The Issuer covenants with the registered owner of this Certificate that on or before
each principal payment date, interest payment date, and accrued interest payment date for this
Certificate it will make available to the Paying Agent/Registrar, from the "Interest and Sinking
Fund" created by the Certificate Ordinance, the amounts required to provide for the payment, in
immediately available funds, of all principal of and interest on the Certificates, when due.
IF THE DATE for the payment of the principal of or interest on this Certificate shall be a
Saturday, Sunday, a legal holiday or a day on which banking institutions in the city where the
corporate trust office of the Paying Agent/Registrar is located are authorized by law or executive
order to close, then the date for such payment shall be the next succeeding day that is not such a
Saturday, Sunday, legal holiday or day on which banking institutions are authorized to close; and
payment on such date shall have the same force and effect as if made on the original date payment
was due.
THIS CERTIFICATE is one of a series of Certificates dated February 15, 2014, authorized
in accordance with the Constitution and laws of the State of Texas in the principal amount of
$13,090,000 for the purpose of paying all or a portion of the Town's contractual obligations incurred
in connection with extending, constructing and improving the Town's sewer system, including
acquiring sewage treatment capacity in the Doe Branch Water Reclamation Plant of the Upper
Trinity Regional Water District ("Upper Trinity"), which is to be owned and operated by Upper
Trinity as part of its Northeast Regional Water Reclamation System, and for paying legal, fiscal,
engineering and architectural fees in connection with these projects.
THE CERTIFICATES OF THIS SERIES having stated maturities on and after August 15,
2025 may be redeemed prior to their scheduled maturities, at the option of the Issuer, on August 15,
2024 or on any date thereafter, with funds derived from any available and lawful source, as a whole,
or in part, and, if in part, the particular Certificates, or portions thereof, to be redeemed shall be
selected and designated by the Issuer (provided that a portion of a Certificate may be redeemed only
in an integral multiple of $5,000), at a redemption price equal to the principal amount to be
redeemed plus accrued interest to the date fixed for redemption.
THE CERTIFICATES scheduled to mature on August 15, 20__ (the "Term Certificates")
are subject to scheduled mandatory redemption by the Paying Agent/Registrar by lot, or by any other
customary method that results in a random selection, at a price equal to the principal amount thereof,
plus accrued interest to the redemption date, out of moneys available for such purpose in the interest
and sinking fund for the Certificates, on the dates and in the respective principal amounts, set forth
in the following schedule:
Item 10
9
Term Certificate
Maturity: August 15, 20
Mandatory Redemption Date
Principal
Amount
August 15, 20__
August 15, 20__
August 15, 20__
August 15, 20__(maturity)
The principal amount of Term Certificates of a stated maturity required to be redeemed on any
mandatory redemption date pursuant to the operation of the mandatory sinking fund redemption
provisions shall be reduced, at the option of the Issuer, by the principal amount of any Term
Certificates of the same maturity which, at least 45 days prior to a mandatory redemption date (1)
shall have been acquired by the Issuer at a price not exceeding the principal amount of such Term
Certificates plus accrued interest to the date of purchase thereof, and delivered to the Paying
Agent/Registrar for cancellation, (2) shall have been purchased and canceled by the Paying
Agent/Registrar at the request of the Issuer at a price not exceeding the principal amount of such
Term Certificates plus accrued interest to the date of purchase, or (3) shall have been redeemed
pursuant to the optional redemption provisions and not theretofore credited against a mandatory
redemption requirement.
AT LEAST 30 DAYS prior to the date fixed for any redemption of Certificates or portions
thereof prior to maturity a written notice of such redemption shall be sent by the Paying
Agent/Registrar by United States mail, first-class postage prepaid, at least 30 days prior to the date
fixed for any such redemption, to the registered owner of each Certificate to be redeemed at its
address as it appeared on the 45th day prior to such redemption date; provided, however, that the
failure of the registered owner to receive such notice, or any defect therein or in the sending or
mailing thereof, shall not affect the validity or effectiveness of the proceedings for the redemption
of any Certificate. By the date fixed for any such redemption due provision shall be made with the
Paying Agent/Registrar for the payment of the required redemption price for the Certificates or
portions thereof that are to be so redeemed. If such written notice of redemption is sent and if due
provision for such payment is made, all as provided above, the Certificates or portions thereof that
are to be so redeemed thereby automatically shall be treated as redeemed prior to their scheduled
maturities, and they shall not bear interest after the date fixed for redemption, and they shall not be
regarded as being outstanding except for the right of the registered owner to receive the redemption
price from the Paying Agent/Registrar out of the funds provided for such payment. If a portion of
any Certificate shall be redeemed, a substitute Certificate or Certificates having the same maturity
date, bearing interest at the same rate, in any denomination or denominations in any integral multiple
of $5,000, at the written request of the registered owner, and in aggregate principal amount equal
to the unredeemed portion thereof, will be issued to the registered owner upon the surrender thereof
for cancellation, at the expense of the Issuer, all as provided in the Certificate Ordinance.
ALL CERTIFICATES OF THIS SERIES are issuable solely as fully registered certificates,
without interest coupons, in the denomination of any integral multiple of $5,000. As provided in
the Certificate Ordinance, this Certificate may, at the request of the registered owner or the assignee
Item 10
10
or assignees hereof, be assigned, transferred, converted into and exchanged for a like aggregate
principal amount of fully registered certificates, without interest coupons, payable to the appropriate
registered owner, assignee or assignees, as the case may be, having the same denomination or
denominations in any integral multiple of $5,000 as requested in writing by the appropriate
registered owner, assignee or assignees, as the case may be, upon surrender of this Certificate to the
Paying Agent/Registrar for cancellation, all in accordance with the form and procedures set forth
in the Certificate Ordinance. Among other requirements for such assignment and transfer, this
Certificate must be presented and surrendered to the Paying Agent/Registrar, together with proper
instruments of assignment, in form and with guarantee of signatures satisfactory to the Paying
Agent/Registrar, evidencing assignment of this Certificate or any portion or portions hereof in any
integral multiple of $5,000 to the assignee or assignees in whose name or names this Certificate or
any such portion or portions hereof is or are to be registered. The form of Assignment printed or
endorsed on this Certificate may be executed by the registered owner to evidence the assignment
hereof, but such method is not exclusive, and other instruments of assignment satisfactory to the
Paying Agent/Registrar may be used to evidence the assignment of this Certificate or any portion
or portions hereof from time to time by the registered owner. The Paying Agent/Registrar's
reasonable standard or customary fees and charges for assigning, transferring, converting and
exchanging any Certificate or portion thereof will be paid by the Issuer. In any circumstance, any
taxes or governmental charges required to be paid with respect thereto shall be paid by the one
requesting such assignment, transfer, conversion or exchange, as a condition precedent to the
exercise of such privilege. The Paying Agent/Registrar shall not be required to make any such
transfer, conversion, or exchange (i) during the period commencing with the close of business on
any Record Date and ending with the opening of business on the next following principal or interest
payment date, or (ii) with respect to any Certificate or any portion thereof called for redemption
prior to maturity, within 45 days prior to its redemption date.
IN THE EVENT any Paying Agent/Registrar for the Certificates is changed by the Issuer,
resigns, or otherwise ceases to act as such, the Issuer has covenanted in the Certificate Ordinance
that it promptly will appoint a competent and legally qualified substitute therefor, and cause written
notice thereof to be mailed to the registered owners of the Certificates.
IT IS HEREBY certified, recited and covenanted that this Certificate has been duly and
validly authorized, issued and delivered; that all acts, conditions and things required or proper to be
performed, exist and be done precedent to or in the authorization, issuance and delivery of this
Certificate have been performed, existed and been done in accordance with law; that this Certificate
is a general obligation of said Issuer, issued on the full faith and credit thereof; and that annual ad
valorem taxes sufficient to provide for the payment of the interest on and principal of this
Certificate, as such interest comes due and such principal matures, have been levied and ordered to
be levied against all taxable property in said Issuer, and have been pledged for such payment, within
the limit prescribed by law, and that this Certificate is additionally secured by and payable from a
pledge of the revenues of the Issuer's combined Waterworks and Sewer Systems remaining after
payment of all operation and maintenance expenses thereof, and all debt service, reserve and other
requirements in connection with all of the Issuer's revenue obligations (now or hereafter
outstanding) that are payable from all or part of said revenues, all as provided in the Certificate
Ordinance.
Item 10
11
BY BECOMING the registered owner of this Certificate, the registered owner thereby
acknowledges all of the terms and provisions of the Certificate Ordinance, agrees to be bound by
such terms and provisions, acknowledges that the Certificate Ordinance is duly recorded and
available for inspection in the official minutes and records of the governing body of the Issuer, and
agrees that the terms and provisions of this Certificate and the Certificate Ordinance constitute a
contract between each registered owner hereof and the Issuer.
IN WITNESS WHEREOF, the Issuer has caused this Certificate to be signed with the
manual or facsimile signature of the Mayor (or in the absence thereof, by the Mayor Pro-tem) of the
Issuer and countersigned with the manual or facsimile signature of the Town Secretary of said
Issuer, and has caused the official seal of the Issuer to be duly impressed, or placed in facsimile, on
this Certificate.
(signature) (signature)
Town Secretary Mayor
(SEAL)
(b) [Form of Paying Agent/Registrar's Authentication Certificate]
PAYING AGENT/REGISTRAR'S AUTHENTICATION CERTIFICATE
(To be executed if this Certificate is not accompanied by an
executed Registration Certificate of the Comptroller
of Public Accounts of the State of Texas)
It is hereby certified that this Certificate has been issued under the provisions of the
Certificate Ordinance described in the text of this Certificate; and that this Certificate has been
issued in conversion or replacement of, or in exchange for, a certificate, certificates, or a portion of
a certificate or certificates of a series that originally was approved by the Attorney General of the
State of Texas and registered by the Comptroller of Public Accounts of the State of Texas.
Dated: _______________________________________________
U.S. Bank National Association
Dallas, Texas
Paying Agent/Registrar
By:______________________________
Authorized Representative
(c) [Form of Assignment]
ASSIGNMENT
Item 10
12
For value received, the undersigned hereby sells, assigns and transfers unto
_______________________________________________________________________________.
Please insert Social Security or Taxpayer Identification Number of Transferee
______________________________________________________________________________
(Please print or typewrite name and address, including zip code, of Transferee.)
______________________________________________________________________________
the within Certificate and all rights thereunder, and hereby irrevocably constitutes and appoints
___________________________________________, attorney, to register the transfer of the within
Certificate on the books kept for registration thereof, with full power of substitution in the premises.
Dated: ___________________________
Signature Guaranteed:
NOTICE: Signature(s) must be guaranteed
by an eligible guarantor institution
participating in a securities transfer
association recognized signature guarantee
program.
NOTICE: The signature above must
correspond with the name of the registered
owner as it appears upon the front of this
Certificate in every particular, without
alteration or enlargement or any change
whatsoever.
(d) [Form of Registration Certificate of the Comptroller of Public Accounts]
COMPTROLLER'S REGISTRATION CERTIFICATE: REGISTER NO.
I hereby certify that this Certificate has been examined, certified as to validity and approved
by the Attorney General of the State of Texas, and that this Certificate has been registered by the
Comptroller of Public Accounts of the State of Texas.
Witness my signature and seal this
__________________________________________
Comptroller of Public Accounts of the State of Texas
(COMPTROLLER'S SEAL)
(e) [Initial Certificate Insertions]
Item 10
13
(i) The initial Certificate shall be in the form set forth is paragraph (a) of this Section,
except that:
A. immediately under the name of the Certificate, the headings "Interest Rate"
and "Maturity Date" shall both be completed with the words "As shown below" and
"CUSIP No. _____" shall be deleted.
B. the first paragraph shall be deleted and the following will be inserted:
"THE TOWN OF PROSPER, TEXAS (the "Issuer"), being a political subdivision and
municipal corporation of the State of Texas, hereby promises to pay to the Registered Owner
specified above, or registered assigns (hereinafter called the "Registered Owner"), on August15 in
each of the years, in the principal installments and bearing interest at the per annum rates set forth
in the following schedule:
Years
Principal
Installments
Interest
Rates Years
Principal
Installments
Interest
Rates
2015 2025
2016 2026
2017 2027
2018 2028
2019 2029
2020 2030
2021 2031
2022 2032
2023 2033
2024 2034
2035
The Issuer promises to pay interest on the unpaid principal amount hereof (calculated on the basis
of a 360-day year of twelve 30-day months) from the Date of Initial Delivery set forth above at the
respective Interest Rate per annum specified above. Interest is payable on August 15, 2014 and
semiannually on each February 15 and August 15 thereafter to the date of payment of the principal
installment specified above, or the date of redemption prior to maturity; except, that if this
Certificate is required to be authenticated and the date of its authentication is later than the first
Record Date (hereinafter defined), such Principal Amount shall bear interest from the interest
payment date next preceding the date of authentication, unless such date of authentication is after
any Record Date but on or before the next following interest payment date, in which case such
principal amount shall bear interest from such next following interest payment date; provided,
however, that if on the date of authentication hereof the interest on the Certificate or Certificates,
if any, for which this Certificate is being exchanged is due but has not been paid, then this
Certificate shall bear interest from the date to which such interest has been paid in full."
Item 10
14
C. The Initial Certificate shall be numbered "T-1."
Section 5. INTEREST AND SINKING FUND. A special "Interest and Sinking Fund" is
hereby created and shall be established and maintained by the Issuer at an official depository bank
of the Issuer. Said Interest and Sinking Fund shall be kept separate and apart from all other funds
and accounts of the Issuer, and shall be used only for paying the interest on and principal of the
Certificates. All amounts received from the sale of the Certificates as accrued interest and ad
valorem taxes levied and collected for and on account of the Certificates shall be deposited, as
collected, to the credit of said Interest and Sinking Fund. During each year while any of the
Certificates are outstanding and unpaid, the governing body of the Issuer shall compute and ascertain
a rate and amount of ad valorem tax that will be sufficient to raise and produce the money required
to pay the interest on the Certificates as such interest comes due, and to provide and maintain a
sinking fund adequate to pay the principal of the Certificates as such principal matures (but never
less than 2% of the original amount of the Certificates as a sinking fund each year); and said tax
shall be based on the latest approved tax rolls of the Issuer, with full allowances being made for tax
delinquencies and the cost of tax collection. Said rate and amount of ad valorem tax is hereby
levied, and is hereby ordered to be levied, against all taxable property in the Issuer, for each year
while any of the Certificates are outstanding and unpaid, and said tax shall be assessed and collected
each such year and deposited to the credit of the aforesaid Interest and Sinking Fund. Said ad
valorem taxes sufficient to provide for the payment of the interest on and principal of the
Certificates, as such interest comes due and such principal matures, are hereby pledged for such
payment, within the limit prescribed by law.
Section 6. SURPLUS REVENUES. The Certificates are additionally secured by and
payable from a pledge of the revenues of the Issuer's combined Waterworks and Sewer Systems
remaining after payment of all operation and maintenance expenses thereof, and all debt service,
reserve and other requirements in connection with all of the Issuer's revenue obligations (now or
hereafter outstanding) that are payable from all or part of the Net Revenues of the Issuer's
Waterworks and Sewer Systems, constituting "Surplus Revenues." The Issuer shall deposit such
Surplus Revenues to the credit of the Interest and Sinking Fund created pursuant to Section 5, to the
extent necessary to pay the principal and interest on the Certificates. Notwithstanding the
requirements of Section 5, if Surplus Revenues are actually on deposit in the Interest and Sinking
Fund in advance of the time when ad valorem taxes are scheduled to be levied for any year, then the
amount of taxes that otherwise would have been required to be levied pursuant to Section 5 may be
reduced to the extent and by the amount of the Surplus Revenues then on deposit in the Interest and
Sinking Fund. The Issuer reserves the right, without condition or limitation, to issue other
obligations secured in whole or in part by a parity lien on and pledge of the Surplus Revenues, for
any purpose permitted by law.
Section 7. DEFEASANCE OF CERTIFICATES. (a) Any Certificate and the interest
thereon shall be deemed to be paid, retired and no longer outstanding (a "Defeased Certificate")
within the meaning of this Ordinance, except to the extent provided in subsection (d) of this Section
7, when payment of the principal of such Certificate, plus interest thereon to the due date (whether
such due date be by reason of maturity or otherwise) either (i) shall have been made or caused to be
Item 10
15
made in accordance with the terms thereof, or (ii) shall have been provided for on or before such due
date by irrevocably depositing with or making available to the Paying Agent/Registrar in accordance
with an escrow agreement or other instrument (the "Future Escrow Agreement") for such payment
(1) lawful money of the United States of America sufficient to make such payment or (2) Defeasance
Securities that mature as to principal and interest in such amounts and at such times as will insure
the availability, without reinvestment, of sufficient money to provide for such payment, and when
proper arrangements have been made by the Issuer with the Paying Agent/Registrar for the payment
of its services until all Defeased Certificates shall have become due and payable. At such time as
a Certificate shall be deemed to be a Defeased Certificate hereunder, as aforesaid, such Certificate
and the interest thereon shall no longer be secured by, payable from, or entitled to the benefits of,
the ad valorem taxes or revenues herein levied and pledged as provided in this Ordinance, and such
principal and interest shall be payable solely from such money or Defeasance Securities, and
thereafter the Issuer will have no further responsibility with respect to amounts available to the
Paying Agent/Registrar (or other financial institution permitted by applicable law) for the payment
of such Defeased Bonds, including any insufficiency therein caused by the failure of the Paying
Agent/Registrar (or other financial institution permitted by applicable law) to receive payment when
due on the Defeasance Securities. Notwithstanding any other provision of this Ordinance to the
contrary, it is hereby provided that any determination not to redeem Defeased Certificates that is
made in conjunction with the payment arrangements specified in subsection 7(a)(i) or (ii) shall not
be irrevocable, provided that: (1) in the proceedings providing for such payment arrangements, the
Issuer expressly reserves the right to call the Defeased Certificates for redemption; (2) gives notice
of the reservation of that right to the owners of the Defeased Certificates immediately following the
making of the payment arrangements; and (3) directs that notice of the reservation be included in
any redemption notices that it authorizes.
(b) Any moneys so deposited with the Paying Agent/Registrar may at the written
direction of the Issuer be invested in Defeasance Securities, maturing in the amounts and times as
hereinbefore set forth, and all income from such Defeasance Securities received by the Paying
Agent/Registrar that is not required for the payment of the Certificates and interest thereon, with
respect to which such money has been so deposited, shall be turned over to the Issuer, or deposited
as directed in writing by the Issuer. Any Future Escrow Agreement pursuant to which the money
and/or Defeasance Securities are held for the payment of Defeased Certificates may contain
provisions permitting the investment or reinvestment of such moneys in Defeasance Securities or
the substitution of other Defeasance Securities upon the satisfaction of the requirements specified
in subsection 7(a)(i) or (ii). All income from such Defeasance Securities received by the Paying
Agent/Registrar that is not required for the payment of the Defeased Certificates, with respect to
which such money has been so deposited, shall be remitted to the Issuer or deposited as directed in
writing by the Issuer.
(c) The term "Defeasance Securities" means any securities and obligations now or
hereafter authorized by Texas law that are eligible to refund, defease or otherwise discharge
obligations such as the Certificates.
Item 10
16
(d) Until all Defeased Certificates shall have become due and payable, the Paying
Agent/Registrar shall perform the services of Paying Agent/Registrar for such Defeased Certificates
the same as if they had not been defeased, and the Issuer shall make proper arrangements to provide
and pay for such services as required by this Ordinance.
(e) In the event that the Issuer elects to defease less than all of the principal amount of
Certificates of a maturity, the Paying Agent/Registrar shall select, or cause to be selected, such
amount of Certificates by such random method as it deems fair and appropriate.
Section 8. DAMAGED, MUTILATED, LOST, STOLEN, OR DESTROYED
CERTIFICATES.
(a) Replacement Certificates. In the event any outstanding Certificate is damaged,
mutilated, lost, stolen or destroyed, the Paying Agent/Registrar shall cause to be printed, executed
and delivered, a new certificate of the same principal amount, maturity and interest rate, as the
damaged, mutilated, lost, stolen or destroyed Certificate, in replacement for such Certificate in the
manner hereinafter provided.
(b) Application for Replacement Certificates. Application for replacement of damaged,
mutilated, lost, stolen or destroyed Certificates shall be made by the registered owner thereof to the
Paying Agent/Registrar. In every case of loss, theft or destruction of a Certificate, the registered
owner applying for a replacement certificate shall furnish to the Issuer and to the Paying
Agent/Registrar such security or indemnity as may be required by them to save each of them
harmless from any loss or damage with respect thereto. Also, in every case of loss, theft or
destruction of a Certificate, the registered owner shall furnish to the Issuer and to the Paying
Agent/Registrar evidence to their satisfaction of the loss, theft or destruction of such Certificate, as
the case may be. In every case of damage or mutilation of a Certificate, the registered owner shall
surrender to the Paying Agent/Registrar for cancellation the Certificate so damaged or mutilated.
(c) No Default Occurred. Notwithstanding the foregoing provisions of this Section, in
the event any such Certificate shall have matured, and no default has occurred that is then continuing
in the payment of the principal of, redemption premium, if any, or interest on the Certificate, the
Issuer may authorize the payment of the same (without surrender thereof except in the case of a
damaged or mutilated Certificate) instead of issuing a replacement Certificate, provided security or
indemnity is furnished as above provided in this Section.
(d) Charge for Issuing Replacement Certificates. Prior to the issuance of any
replacement certificate, the Paying Agent/Registrar shall charge the registered owner of such
Certificate with all legal, printing, and other expenses in connection therewith. Every replacement
certificate issued pursuant to the provisions of this Section by virtue of the fact that any Certificate
is lost, stolen or destroyed shall constitute a contractual obligation of the Issuer whether or not the
lost, stolen or destroyed Certificate shall be found at any time, or be enforceable by anyone, and
shall be entitled to all the benefits of this Ordinance equally and proportionately with any and all
other Certificates duly issued under this Ordinance.
Item 10
17
(e) Authority for Issuing Replacement Certificates. In accordance with Subchapter D
of Chapter 1201, Government Code, this Section 8 of this Ordinance shall constitute authority for
the issuance of any such replacement certificate without necessity of further action by the governing
body of the Issuer or any other body or person, and the duty of the replacement of such certificates
is hereby authorized and imposed upon the Paying Agent/Registrar, and the Paying Agent/Registrar
shall authenticate and deliver such Certificates in the form and manner and with the effect, as
provided in Section 3(a) of this Ordinance for Certificates issued in conversion and exchange for
other Certificates.
Section 9. CUSTODY, APPROVAL, AND REGISTRATION OF CERTIFICATES; BOND
COUNSEL'S OPINION AND ENGAGEMENT; ATTORNEY GENERAL FILING FEE; CUSIP
NUMBERS; OTHER PROCEDURES. (a) The Mayor of the Issuer is hereby authorized to have
control of the Certificates initially issued and delivered hereunder and all necessary records and
proceedings pertaining to the Certificates pending their delivery and their investigation,
examination, and approval by the Attorney General of the State of Texas, and their registration by
the Comptroller of Public Accounts of the State of Texas. Upon registration of the Certificates said
Comptroller of Public Accounts (or a deputy designated in writing to act for said Comptroller) shall
manually sign the Comptroller's Registration Certificate attached to such Certificates, and the seal
of said Comptroller shall be impressed, or placed in facsimile, on such Certificate. The approving
legal opinion of the Issuer's Bond Counsel and the assigned CUSIP numbers may, at the option of
the Issuer, be printed on the Certificates issued and delivered under this Ordinance, but neither shall
have any legal effect, and shall be solely for the convenience and information of the registered
owners of the Certificates.
(b) The Mayor, Town Manager, Finance Director and Town Secretary and all other officers,
employees and agents of the Issuer, and each of them, shall be and they are hereby expressly
authorized, empowered and directed from time to time and at any time to do and perform all such
acts and things and to execute, acknowledge and deliver in the name and on behalf of the Issuer a
Paying Agent/Registrar Agreement with the Paying Agent/Registrar and all other instruments,
whether or not herein mentioned, as may be necessary or desirable in order to carry out the terms
and provisions of this Ordinance, the Certificates, the sale of the Certificates and the Official
Statement relating to the Certificates. In case any officer whose signature shall appear on any Bond
shall cease to be such officer before the delivery of such Bond, such signature shall nevertheless be
valid and sufficient for all purposes the same as if such officer had remained in office until such
delivery.
(c) The obligation of the initial purchaser to accept delivery of the Certificates is subject
to the initial purchaser being furnished with the final, approving opinion of McCall, Parkhurst &
Horton L.L.P., bond counsel to the Issuer, which opinion shall be dated as of and delivered on the
date of initial delivery of the Certificates to the initial purchaser. The engagement of such firm as
bond counsel to the Issuer in connection with issuance, sale and delivery of the Certificates is hereby
approved and confirmed. The execution and delivery of an engagement letter between the Issuer
and such firm, with respect to such services as bond counsel, is hereby authorized in such form as
Item 10
18
may be approved by the Mayor of the Issuer and the Mayor is hereby authorized to execute such
engagement letter.
(d) In accordance with the provisions of Section 1202.004, Tex. Gov't Code Ann., in
connection with the submission of the Certificates by the Attorney General of Texas for review and
approval, a statutory fee (an amount equal to 0.1% principal amount of the Certificates, subject to
a minimum of $750 and a maximum of $9,500) is required to be paid to the Attorney General upon
the submission of the transcript of proceedings for the Certificates. The Issuer hereby authorizes
and directs that a check in the amount of the Attorney General filing fee for the Certificates, made
payable to the "Texas Attorney General," be promptly furnished to the Issuer's Bond Counsel, for
payment to the Attorney General in connection with his review of the Certificates.
Section 10. COVENANTS REGARDING TAX EXEMPTION OF INTEREST ON THE
CERTIFICATES. The Issuer covenants to take any action necessary to assure, or refrain from any
action that would adversely affect, the treatment of the Certificates as Obligation described in
section 103 of the Code, the interest on which is not includable in the "gross income" of the holder
for purposes of federal income taxation. In furtherance thereof, the Issuer covenants as follows:
(a) to take any action to assure that no more than 10 percent of the proceeds of
the Certificates (less amounts deposited to a reserve fund, if any) are used for any "private
business use," as defined in section 141(b)(6) of the Code or, if more than 10 percent of the
proceeds or the projects financed therewith are so used, such amounts, whether or not
received by the Issuer, with respect to such private business use, do not, under the terms of
this Ordinance or any underlying arrangement, directly or indirectly, secure or provide for
the payment of more than 10 percent of the debt service on the Certificates, in contravention
of section 141(b)(2) of the Code;
(b) to take any action to assure that in the event that the "private business use"
described in subsection (a) hereof exceeds 5 percent of the proceeds of the Certificates or
the projects financed therewith (less amounts deposited into a reserve fund, if any) then the
amount in excess of 5 percent is used for a "private business use" that is "related" and not
"disproportionate," within the meaning of section 141(b)(3) of the Code, to the governmental
use;
(c) to take any action to assure that no amount that is greater than the lesser of
$5,000,000, or 5 percent of the proceeds of the Certificates (less amounts deposited into a
reserve fund, if any) is directly or indirectly used to finance loans to persons, other than state
or local governmental units, in contravention of section 141(c) of the Code;
(d) to refrain from taking any action that would otherwise result in the
Certificates being treated as "private activity bonds" within the meaning of section 141(b)
of the Code;
(e) to refrain from taking any action that would result in the Certificates being
"federally guaranteed" within the meaning of section 149(b) of the Code;
Item 10
19
(f) to refrain from using any portion of the proceeds of the Certificates, directly
or indirectly, to acquire or to replace funds that were used, directly or indirectly, to acquire
investment property (as defined in section 148(b)(2) of the Code) that produces a materially
higher yield over the term of the Certificates, other than investment property acquired with
–
(1) proceeds of the Certificates invested for a reasonable temporary
period of 3 years or less or, in the case of a refunding bond, for a period of 30 days
or less until such proceeds are needed for the purpose for which the bonds are issued,
(2) amounts invested in a bona fide debt service fund, within the meaning
of section 1.148-1(b) of the Treasury Regulations, and
(3) amounts deposited in any reasonably required reserve or replacement
fund to the extent such amounts do not exceed 10 percent of the proceeds of the
Certificates;
(g) to otherwise restrict the use of the proceeds of the Certificates or amounts
treated as proceeds of the Certificates, as may be necessary, so that the Certificates do not
otherwise contravene the requirements of section 148 of the Code (relating to arbitrage) and,
to the extent applicable, section 149(d) of the Code (relating to advance refundings); and
(h) to pay to the United States of America at least once during each five-year
period (beginning on the date of delivery of the Certificates) an amount that is at least equal
to 90 percent of the "Excess Earnings," within the meaning of section 148(f) of the Code and
to pay to the United States of America, not later than 60 days after the Certificates have been
paid in full, 100 percent of the amount then required to be paid as a result of Excess Earnings
under section 148(f) of the Code.
In order to facilitate compliance with the above covenant (h), a "Rebate Fund" is hereby
established by the Issuer for the sole benefit of the United States of America, and such Fund shall
not be subject to the claim of any other person, including without limitation the certificateholders.
The Rebate Fund is established for the additional purpose of compliance with section 148 of the
Code.
For purposes of the foregoing (a) and (b), the Issuer understands that the term "proceeds"
includes "disposition proceeds" as defined in the Treasury Regulations and, in the case of refunding
bonds, transferred proceeds (if any) and proceeds of the refunded bonds expended prior to the date
of issuance of the Certificates. It is the understanding of the Issuer that the covenants contained
herein are intended to assure compliance with the Code and any regulations or rulings promulgated
by the U.S. Department of the Treasury pursuant thereto. In the event that regulations or rulings are
hereafter promulgated that modify or expand provisions of the Code, as applicable to the
Certificates, the Issuer will not be required to comply with any covenant contained herein to the
Item 10
20
extent that such failure to comply, in the opinion of nationally recognized bond counsel, will not
adversely affect the exemption from federal income taxation of interest on the Certificates under
section 103 of the Code. In the event that regulations or rulings are hereafter promulgated that
impose additional requirements applicable to the Certificates, the Issuer agrees to comply with the
additional requirements to the extent necessary, in the opinion of nationally recognized bond
counsel, to preserve the exemption from federal income taxation of interest on the Certificates under
section 103 of the Code. In furtherance of such intention, the Issuer hereby authorizes and directs
the Mayor to execute any documents, certificates or reports required by the Code and to make such
elections, on behalf of the Issuer, that may be permitted by the Code as are consistent with the
purpose for the issuance of the Certificates.
Section 11. SALE OF CERTIFICATES; APPROVAL OF OFFICIAL STATEMENT;
APPLICATION OF PREMIUM. (a) The Certificates are hereby initially sold and shall be
delivered to ________________ (the "Underwriters") for cash at a price set forth below, pursuant
to the terms and provisions of a Bond Purchase Agreement that the Mayor of the Issuer is hereby
authorized to execute and deliver. The Certificates shall initially be registered in the name of
"______________". The Certificates are sold to the Underwriters at a price of $________
(representing the par amount of the Certificates, plus an aggregate original issue premium of
$________, less Underwriter's discount on the Certificates of $________). A portion of the net
original issue premium shall be applied to pay the Underwriter's discount. It is hereby officially
found, determined, and declared that the terms of this sale are the most advantageous reasonably
obtainable.
(b) Excess proceeds from the sale of the Certificates in the amount of $_______ shall be
deposited to the Interest and Sinking Fund. Proceeds of the sale of the Certificates (i) in the amount
of $________ shall be deposited to the construction fund of the Issuer to be used for the construction
of the Project financed with the Certificates and (ii) in the amount of $________ shall be applied
to pay the costs of issuance of the Certificates.
(c) The Issuer hereby approves the form and content of the Official Statement relating to the
Certificates and any addenda, supplement or amendment thereto, and approves the distribution of
such Official Statement in the reoffering of the Certificates by the Underwriter in final form, with
such changes therein or additions thereto as the officer executing the same may deem advisable,
such determination to be conclusively evidenced by his execution thereof. The distribution and use
of the Preliminary Official Statement dated February __, 2014 prior to the date hereof is hereby
ratified and confirmed.
Section 12. ALLOCATION OF CERTIFICATE PROCEEDS. The Issuer covenants to
account for the expenditure of sale proceeds and investment earnings to be used for the construction
and acquisition of the Project on its books and records by allocating proceeds to expenditures within
18 months of the later of the date that (1) the expenditure is made, or (2) the Project is completed.
The foregoing notwithstanding, the Issuer shall not expend proceeds of the sale of the Certificates
or investment earnings thereon more than 60 days after the earlier of (1) the fifth anniversary of the
delivery of the Certificates, or (2) the date the Certificates are retired, unless the Issuer obtains an
Item 10
21
opinion of nationally-recognized bond counsel that such expenditure will not adversely affect the
status, for federal income tax purposes, of the Certificates or the interest thereon. For purposes
hereof, the Issuer shall not be obligated to comply with this covenant if it obtains an opinion that
such failure to comply will not adversely affect the excludability for federal income tax purposes
from gross income of the interest.
Section 13. DISPOSITION OF PROJECT. The Issuer covenants that the Project will not
be sold or otherwise disposed in a transaction resulting in the receipt by the Issuer of cash or other
compensation, unless the Issuer obtains an opinion of nationally-recognized bond counsel that such
sale or other disposition will not adversely affect the tax-exempt status of the Certificates. For
purposes of the foregoing, the portion of the property comprising personal property and disposed
in the ordinary course shall not be treated as a transaction resulting in the receipt of cash or other
compensation. For purposes hereof, the Issuer shall not be obligated to comply with this covenant
if it obtains a legal opinion that such failure to comply will not adversely affect the excludability for
federal income tax proposes from gross income of the interest.
Section 14. INTEREST EARNINGS ON CERTIFICATE PROCEEDS. Interest earnings
derived from the investment of proceeds from the sale of the Certificates shall be used along with
other certificate proceeds for the Project; provided that after completion of such purpose, if any of
such interest earnings remain on hand, such interest earnings shall be deposited in the Interest and
Sinking Fund. It is further provided, however, that any interest earnings on certificate proceeds that
are required to be rebated to the United States of America pursuant to Section 10 hereof in order to
prevent the Certificates from being arbitrage bonds shall be so rebated and not considered as interest
earnings for the purposes of this Section.
Section 15. CONSTRUCTION FUND. The Issuer hereby creates and establishes and shall
maintain on the books of the Issuer a separate fund to be entitled the "Series 2014 Combination Tax
and Surplus Revenue Certificate of Obligation Construction Fund" for use by the Issuer for payment
of all lawful costs associated with the acquisition and construction of the Project as hereinbefore
provided. Upon payment of all such costs, any moneys remaining on deposit in said Fund shall be
transferred to the Interest and Sinking Fund. Amounts so deposited to the Interest and Sinking Fund
shall be used in the manner described in Section 5 of this Ordinance.
Section 16. COMPLIANCE WITH RULE 15c2-12.
(a) Definitions. As used in this Section, the following terms have the meanings ascribed to
such terms below:
"MSRB" means the Municipal Securities Rulemaking Board.
"Rule" means SEC Rule 15c2-12, as amended from time to time.
"SEC" means the United States Securities and Exchange Commission.
Item 10
22
(b) Annual Reports. (i) The Issuer shall provide annually to the MSRB, in the electronic
format prescribed by the MSRB, within six months after the end of each fiscal year commencing in
2014, financial information and operating data with respect to the Issuer of the general type included
in the final Official Statement authorized by this Ordinance, being the information described in
Exhibit A attached hereto. Any financial statements so to be provided shall be (1) prepared in
accordance with the accounting principles described in the financial statements of the Issuer
appended to the Official Statement, or such other accounting principles as the Issuer may be required
to employ from time to time pursuant to state law or regulation, and (2) audited, if the Issuer
commissions an audit of such statements and the audit is completed within the period during which
they must be provided. If the audit of such financial statements is not completed within such period,
then the Issuer shall provide unaudited financial information within such period, and audited
financial statements for the applicable fiscal year to the MSRB, when and if the audit report on such
statements become available.
(ii) If the Issuer changes its fiscal year, it will notify the MSRB of the change (and of the
date of the new fiscal year end) prior to the next date by which the Issuer otherwise would be
required to provide financial information and operating data pursuant to this Section. The financial
information and operating data to be provided pursuant to this Section may be set forth in full in one
or more documents or may be included by specific reference to any documents available to the
public on the MSRB's internet website or filed with the SEC.
(c) Event Notices. The Issuer shall notify the MSRB, in a timely manner not in excess of
ten Business Days after the occurrence of the event, of any of the following events with respect to
the Certificates:
1. Principal and interest payment delinquencies;
2. Non-payment related defaults, if material;
3. Unscheduled draws on debt service reserves reflecting financial difficulties;
4. Unscheduled draws on credit enhancements reflecting financial difficulties;
5. Substitution of credit or liquidity providers, or their failure to perform;
6. Adverse tax opinions, the issuance by the Internal Revenue Service of proposed or
final determinations of taxability, Notices of Proposed Issue (IRS Form 5701-TEB)
or other material notices or determinations with respect to the tax status of the
Certificates, or other material events affecting the tax status of the Certificates;
7. Modifications to rights of holders of the Certificates, if material;
8. Certificate calls, if material, and tender offers;
9. Defeasances;
10. Release, substitution, or sale of property securing repayment of the Certificates, if
material;
11. Rating changes;
12. Bankruptcy, insolvency, receivership or similar event of the Issuer;
13. The consummation of a merger, consolidation, or acquisition involving the Issuer or
the sale of all or substantially all of the assets of the Issuer, other than in the ordinary
course of business, the entry into a definitive agreement to undertake such an action
Item 10
23
or the termination of a definitive agreement relating to any such actions, other than
pursuant to its terms, if material; and
14. Appointment of a successor Paying Agent/Registrar or change in the name of the
Paying Agent/Registrar, if material.
The Issuer shall notify the MSRB, in a timely manner, of any failure by the Issuer to provide
financial information or operating data in accordance with subsection (c) of this Section by the time
required by subsection (c). As used in clause (c)12 above, the phrase "bankruptcy, insolvency,
receivership or similar event" means the appointment of a receiver, fiscal agent or similar officer
for the Issuer in a proceeding under the U.S. Bankruptcy Code or in any other proceeding under state
or federal law in which a court of governmental authority has assumed jurisdiction over substantially
all of the assets or business of the Issuer, or if jurisdiction has been assumed by leaving the Board
and officials or officers of the Issuer in possession but subject to the supervision and orders of a
court or governmental authority, or the entry of an order confirming a plan of reorganization,
arrangement or liquidation by a court or governmental authority having supervision or jurisdiction
over substantially all of the assets or business of the Issuer.
(d) Limitations, Disclaimers, and Amendments. (i) The Issuer shall be obligated to observe
and perform the covenants specified in this Section for so long as, but only for so long as, the Issuer
remains an "obligated person" with respect to the Certificates within the meaning of the Rule, except
that the Issuer in any event will give notice of any deposit made in accordance with this Ordinance
or applicable law that causes the Certificates no longer to be outstanding.
(ii) The provisions of this Section are for the sole benefit of the registered owners and
beneficial owners of the Certificates, and nothing in this Section, express or implied, shall give any
benefit or any legal or equitable right, remedy, or claim hereunder to any other person. The Issuer
undertakes to provide only the financial information, operating data, financial statements, and
notices which it has expressly agreed to provide pursuant to this Section and does not hereby
undertake to provide any other information that may be relevant or material to a complete
presentation of the Issuer's financial results, condition, or prospects or hereby undertake to update
any information provided in accordance with this Section or otherwise, except as expressly provided
herein. The Issuer does not make any representation or warranty concerning such information or
its usefulness to a decision to invest in or sell Certificates at any future date.
(iii) UNDER NO CIRCUMSTANCES SHALL THE ISSUER BE LIABLE TO THE
REGISTERED OWNER OR BENEFICIAL OWNER OF ANY CERTIFICATE OR ANY OTHER
PERSON, IN CONTRACT OR TORT, FOR DAMAGES RESULTING IN WHOLE OR IN PART
FROM ANY BREACH BY THE ISSUER, WHETHER NEGLIGENT OR WITHOUT FAULT ON
ITS PART, OF ANY COVENANT SPECIFIED IN THIS SECTION, BUT EVERY RIGHT AND
REMEDY OF ANY SUCH PERSON, IN CONTRACT OR TORT, FOR OR ON ACCOUNT OF
ANY SUCH BREACH SHALL BE LIMITED TO AN ACTION FOR MANDAMUS OR
SPECIFIC PERFORMANCE.
Item 10
24
(iv) No default by the Issuer in observing or performing its obligations under this Section
shall comprise a breach of or default under the Ordinance for purposes of any other provision of this
Ordinance. Nothing in this Section is intended or shall act to disclaim, waive, or otherwise limit the
duties of the Issuer under federal and state securities laws.
(v) The provisions of this Section may be amended by the Issuer from time to time to adapt
to changed circumstances that arise from a change in legal requirements, a change in law, or a
change in the identity, nature, status, or type of operations of the Issuer, but only if (1) the provisions
of this Section, as so amended, would have permitted an underwriter to purchase or sell Certificates
in the primary offering of the Certificates in compliance with the Rule, taking into account any
amendments or interpretations of the Rule since such offering as well as such changed circumstances
and (2) either (a) the registered owners of a majority in aggregate principal amount (or any greater
amount required by any other provision of this Ordinance that authorizes such an amendment) of
the outstanding Certificates consent to such amendment or (b) a person that is unaffiliated with the
Issuer (such as nationally recognized bond counsel) determined that such amendment will not
materially impair the interest of the registered owners and beneficial owners of the Certificates. If
the Issuer so amends the provisions of this Section, it shall include with any amended financial
information or operating data next provided in accordance with subsection (b) of this Section an
explanation, in narrative form, of the reason for the amendment and of the impact of any change in
the type of financial information or operating data so provided. The Issuer may also amend or repeal
the provisions of this continuing disclosure agreement if the SEC amends or repeals the applicable
provision of the Rule or a court of final jurisdiction enters judgment that such provisions of the Rule
are invalid, but only if and to the extent that the provisions of this sentence would not prevent an
underwriter from lawfully purchasing or selling Certificates in the primary offering of the
Certificates.
Section 17. METHOD OF AMENDMENT. The Issuer hereby reserves the right to amend
this Ordinance subject to the following terms and conditions, to-wit:
(a) The Issuer may from time to time, without the consent of any holder, except as
otherwise required by paragraph (b) below, amend or supplement this Ordinance in order to (i) cure
any ambiguity, defect or omission in this Ordinance that does not materially adversely affect the
interests of the holders, (ii) grant additional rights or security for the benefit of the holders, (iii) add
events of default as shall not be inconsistent with the provisions of this Ordinance and which shall
not materially adversely affect the interests of the holders, (v) qualify this Ordinance under the Trust
Indenture Act of 1939, as amended, or corresponding provisions of federal laws from time to time
in effect, or (iv) make such other provisions in regard to matters or questions arising under this
Ordinance as shall not be inconsistent with the provisions of this Ordinance and which shall not in
the opinion of the Issuer's Bond Counsel materially adversely affect the interests of the holders.
(b) Except as provided in paragraph (a) above, the holders of Certificates aggregating
in principal amount 51% of the aggregate principal amount of then outstanding Certificates which
are the subject of a proposed amendment shall have the right from time to time to approve any
amendment hereto which may be deemed necessary or desirable by the Issuer; provided, however,
Item 10
25
that without the consent of 100% of the holders in aggregate principal amount of the then
outstanding Certificates, nothing herein contained shall permit or be construed to permit amendment
of the terms and conditions of this Ordinance or in any of the Certificates so as to:
(1) Make any change in the maturity of any of the outstanding Certificates;
(2) Reduce the rate of interest borne by any of the outstanding Certificates;
(3) Reduce the amount of the principal of, or redemption premium, if any,
payable on any outstanding Certificates;
(4) Modify the terms of payment of principal or of interest or redemption
premium on outstanding Certificates or any of them or impose any condition with
respect to such payment; or
(5) Change the minimum percentage of the principal amount of any series of
Certificates necessary for consent to such amendment.
(c) If at any time the Issuer shall desire to amend this Ordinance under this Section, the
Issuer shall send by U.S. mail to each registered owner of the affected Certificates a copy of the
proposed amendment and cause notice of the proposed amendment to be published at least once in
a financial publication published in The City of New York, New York or in the State of Texas. Such
published notice shall briefly set forth the nature of the proposed amendment and shall state that a
copy thereof is on file at the office of the Issuer for inspection by all holders of such Certificates.
(d) Whenever at any time within one year from the date of publication of such notice the
Issuer shall receive an instrument or instruments executed by the holders of at least 51% in
aggregate principal amount of all of the Certificates then outstanding which are required for the
amendment, which instrument or instruments shall refer to the proposed amendment and which shall
specifically consent to and approve such amendment, the Issuer may adopt the amendment in
substantially the same form.
(e) Upon the adoption of any amendatory Ordinance pursuant to the provisions of this
Section, this Ordinance shall be deemed to be modified and amended in accordance with such
amendatory Ordinance, and the respective rights, duties, and obligations of the Issuer and all holders
of such affected Certificates shall thereafter be determined, exercised, and enforced, subject in all
respects to such amendment.
(f) Any consent given by the holder of a Certificate pursuant to the provisions of this
Section shall be irrevocable for a period of six months from the date of the publication of the notice
provided for in this Section, and shall be conclusive and binding upon all future holders of the same
Certificate during such period. Such consent may be revoked at any time after six months from the
date of the publication of said notice by the holder who gave such consent, or by a successor in title,
by filing notice with the Issuer, but such revocation shall not be effective if the holders of 51% in
Item 10
26
aggregate principal amount of the affected Certificates then outstanding, have, prior to the attempted
revocation, consented to and approved the amendment.
For the purposes of establishing ownership of the Certificates, the Issuer shall rely solely
upon the registration of the ownership of such Certificates on the registration books kept by the
Paying Agent/Registrar.
Section 18. CONTINUED PERFECTION OF SECURITY INTEREST. Chapter 1208,
Government Code, applies to the issuance of the Certificates and the pledge of the ad valorem taxes
granted by the Issuer under Section 5 of this Ordinance and the pledge of the Surplus Revenues
under Section 6 of this Ordinance, and such pledge is therefore valid, effective, and perfected. If
Texas law is amended at any time while the Certificates are outstanding and unpaid such that the
pledge of the taxes granted by the Issuer under Section 5 of this Ordinance or the pledge of the
Surplus Revenues under Section 6 of this Ordinance is to be subject to the filing requirements of
Chapter 9, Business & Commerce Code, then in order to preserve to the registered owners of the
Certificates the perfection of the security interest in said pledges, the Issuer agrees to take such
measures as it determines are reasonable and necessary under Texas law to comply with the
applicable provisions of Chapter 9, Business & Commerce Code and enable a filing to perfect the
security interest in said pledges to occur.
Section 19. INCONSISTENT PROVISIONS. All indentures, ordinances or resolutions, or
parts thereof, that are in conflict or inconsistent with any provision of this Ordinance are hereby
repealed to the extent of such conflict and the provisions of this Ordinance shall be and remain
controlling as to the matters contained herein.
Section 20. GOVERNING LAW. This Ordinance shall be construed and enforced in
accordance with the laws of the State of Texas and the United States of America.
Section 21. SEVERABILITY. If any provision of this Ordinance or the application thereof
to any circumstance shall be held to be invalid, the remainder of this Ordinance and the application
thereof to other circumstances shall nevertheless be valid, and this governing body hereby declares
that this Ordinance would have been enacted without such invalid provision.
Section 22. EVENTS OF DEFAULT. Each of the following occurrences or events for the
purpose of this Ordinance is hereby declared to be an event of default (an "Event of Default"):
(i) the failure to make payment of the principal of or interest on any of the Certificates when
the same becomes due and payable; or
(ii) default in the performance or observance of any other covenant, agreement or obligation
of the Issuer, the failure to perform which materially, adversely affects the rights of the
Registered Owners, including, but not limited to, their prospect or ability to be repaid in
accordance with this Ordinance, and the continuation thereof for a period of 60 days after
notice of such default is given by any Registered Owner to the Issuer.
Section 23. REMEDIES FOR DEFAULT. (a) Upon the happening of any Event of Default,
then and in every case, any Registered Owner or an authorized representative thereof, including, but
Item 10
27
not limited to, a trustee or trustees therefor, may proceed against the may proceed against the Issuer
or the Town Council of the Issuer, as appropriate for the purpose of protecting and enforcing the
rights of the Registered Owners under this Ordinance, by mandamus or other suit, action or special
proceeding in equity or at law, in any court of competent jurisdiction, for any relief permitted by
law, including the specific performance of any covenant or agreement contained herein, or thereby
to enjoin any act or thing that may be unlawful or in violation of any right of the Registered Owners
hereunder or any combination of such remedies.
(b) It is provided that all such proceedings shall be instituted and maintained for the equal
benefit of all Registered Owners of Certificates then outstanding.
Section 24. REMEDIES NOT EXCLUSIVE. (a) No remedy herein conferred or reserved
is intended to be exclusive of any other available remedy or remedies, but each and every such
remedy shall be cumulative and shall be in addition to every other remedy given hereunder or under
the Certificates or now or hereafter existing at law or in equity; provided, however, that
notwithstanding any other provision of this Ordinance, the right to accelerate the debt evidenced by
the Certificates shall not be available as a remedy under this Ordinance.
(b) The exercise of any remedy herein conferred or reserved shall not be deemed a waiver
of any other available remedy.
(c) By accepting the delivery of a Certificate authorized under this Ordinance, such
Registered Owner agrees that the certifications required to effectuate any covenants or
representations contained in this Ordinance do not and shall never constitute or give rise to a
personal or pecuniary liability or charge against the officers, employees or trustees of the Issuer or
the Town Council of the Issuer.
Section 25. EFFECTIVE DATE. In accordance with the provisions of V.T.C.A.,
Government Code, Section 1201.028, this Ordinance shall be effective immediately upon its
adoption by the Town Council.
Item 10
A-1
Exhibit A
Continuing Disclosure Information
The following information is referred to in Section 16(a) of this Ordinance:
Annual Financial Statements and Operating Data
The financial information and operating data with respect to the Issuer to be provided annually in
accordance with such Section are as specified (and included in the Appendices of the Official
Statement referred to) below:
The quantitative financial information and operating data pertaining to the Issuer of the general type
included in Tables numbered 1 through 5 and 7 through 14 and in Appendix B to the Official
Statement.
The financial statements of the Issuer that will be provided will be unaudited, unless an audit is
performed, in which event the audited financial statements will be made available.
Accounting Principles
The accounting principles referred to in such Section are the accounting principles described in the
notes to the financial statements that are attached to the Official Statement as Appendix C, or such
other accounting principles as the Issuer may be required to employ from time to time pursuant to
state law or regulation.
Item 10
Page 1 of 1
To: Mayor and Town Council
From: Paul Naughton, RLA, Landscape Architect
Through: Harlan Jefferson, Town Manager
Re: Town Council Meeting – February 11, 2014
Agenda Item:
Consider and act upon the proposed park land dedication within the limits of the preliminary plat
of Brookhollow, on 158.5± acres, located on the north side of First Street, 1,600± feet east of
Coit Road. (D12-0013).
Description of Agenda Item:
Planned Development 39 (PD-39) requires a dedication of a minimum of 8.71 acres or 5% of
the net platted acreage, whichever is less, to the Town for park purposes. The intent of this
requirement was to complete the acquisition of land around Town Lake.
The proposed preliminary plat shows 277 single family residential lots. Using the calculation
stated above, the park land required by the development is 7.9 acres. At this time the developer
is proposing to dedicate 8.15 acres of park land to meet the required 7.9 acres of park land
dedication.
Attached Documents:
1. Preliminary Plat
2. Park Land Dedication Exhibit for Brookhollow
Parks and Recreation Board Recommendation:
At the January 9, 2014, Parks and Recreation Board meeting, the Parks and Recreation Board
recommended the Town Council approve the proposed dedication of 8.15 acres of park land to
complete the acquisition of the land around Town Lake, as shown on the preliminary plat of
Brookhollow, by a vote of 4-0.
Town Staff Recommendation:
Town staff recommends the Town Council approve the proposed park land dedication of 8.15
acres of park land, as shown on the preliminary plat of Brookhollow.
Proposed Motion:
I move to approve the dedication of 8.15 acres of park land, as shown on the preliminary plat of
Brookhollow.
PARKS &
RECREATION
Prosper is a place where everyone matters.
Item 11
Item 11
Item 11
Item 11
Item 11
Item 11
Item 11
US 380COIT ROADCUSTER ROADFIRST STREET
LOCATION MAP
N.T.S.
CORWIN ENGINEERING, INC.
PREPARED BY
200 W. BELMONT, SUITE E
OWNER
ALLEN, TEXAS 75013
972-396-1200
WARREN CORWIN
OF
IN THE
BROOKHOLLOW
TOWN OF PROSPER
COLLIN COUNTY, TEXAS
5400 DALLAS PARKWAY
FIRST STREET
0 100 200 400
SCALE: 1" = 200’
218 PROSPER LP.
PROJECT
LOCATION
170’ T
P
&
L
E
S
M
T
.
VOL. 81
0
,
P
G
.
6
9
3
170’ T
P
&
L
E
S
M
T
.
VOL. 81
0
,
P
G
.
6
9
3
TOTAL LOTS
TOTAL ACRES
277
MEAD
O
W
B
R
O
O
K
WHITL
E
Y
P
L
A
C
E
WHISP
E
R
I
N
G
F
A
R
M
S
PHAS
E
2
VOL. 2
0
0
6
,
P
G
.
2
9
GREE
N
S
P
O
I
N
T
PHAS
E
1
VOL. 2
0
0
6
,
P
G
.
3
4
5
GATED
ENTRY
GATED
ENTRY
OPEN SPACE
11.36 ACRES
OPEN SPACE6.16 ACRESOPEN SPACE10.95 ACRESOPEN SPACE7.73 ACRESOPEN SP
A
C
E
3.38 A
C
R
E
S
OPEN SPAC
E
2.2 ACRES
EX. TRAILEX. TRAILPEDESTRIAN BRIDGE FUTURE TRA
ILBY OTHER
S
8’ HIK
E
&
B
I
K
E
TRAIL
8’ HIK
E
&
B
I
K
E
TRAIL
8’ HIK
E
&
B
I
K
E
TRAI
L
8’ HIKE & BIKE
TRAIL
8’ HIK
E
&
B
I
K
E
TRAIL
PARK DEDICATION
8.15 ACRES
OPEN SPACE
0.4 AC.
NOTE:
TRAIL LOCATIONS ARE CONCEPTUAL AND
WILL BE SET AT THE TIME OF FINAL PLATTING.
158.517
1" = 200’ JANUARY 2014
FRISCO, TEXAS 75034
972-618-3800
OPEN SPACE
0.3 AC.
PARK LAND
DEDICATION EXHIBIT
6’ HIK
E
&
B
I
K
E
TRAIL
6’ HIKE & BIKE
TRAIL
6’ HIKE & BIKE
TRAIL
LAKE
Item 11
Page 1 of 2
To: Mayor and Town Council
From: Hulon T. Webb, Jr., P.E., Executive Director of Development and
Community Services
Through: Harlan Jefferson, Town Manager
Re: Town Council Meeting – February 11, 2014
Agenda Item:
Discuss and provide update on status of proposed alignment of DNT Backer Road.
Description of Agenda Item:
At the January 29, 2014, Strategic Planning Session, a status on the resolution of the proposed
alignment of the DNT Backer Road east of the Dallas North Tollway was requested. In order to
continue the discussion on this topic, Town staff is providing the following information on the
history and status of the proposed alignment of the DNT Backer Road.
Since October 14, 2003, the Town’s Thoroughfare Plan’s have depicted future roadways
paralleling the Dallas North Tollway on either side from First Street to Frontier Parkway. As
part of the October 10, 2006, public hearing for the zoning request for Prestonwood Baptist
Church, the Town Council discussed the Town’s Thoroughfare Plan and the impact the future
roadway paralleling the Dallas North Tollway would have on the proposed development of
Prestonwood Baptist Church. The location of the proposed roadway, as depicted on the Town’s
Thoroughfare Plan, was in direct conflict with the church’s sanctuary so alternative alignments
for the roadway were discussed. Based on the feedback at that meeting, the Town Council
approved the zoning request for Prestonwood Baptist Church and recommended the future
roadway paralleling the Dallas North Tollway from First Street to Prosper Trail be realigned to
connect with Cook Lane south of Prosper Trail.
Prior to and during the review of the preliminary site plan for Prestonwood Baptist Church, Town
staff met with representatives from Prestonwood Baptist Church, Blue Star Land, and Tomlin
Investments in an effort to reach consensus on the proposed realignment of the roadway
paralleling the Dallas North Tollway from First Street to Prosper Trail. As depicted on the
preliminary site plan, a realignment of the future roadway paralleling the Dallas North Tollway,
as well as a new east-west divided thoroughfare, recommended by a traffic impact analysis
performed by Prestonwood Baptist Church’s engineer, had significant impact to the affected
properties. Needless to say, consensus could not be reached and since Prestonwood Baptist
Church was requiring timely approval of the preliminary site plan, they depicted the future
roadways within the property boundaries of Prestonwood Baptist Church with a note that the
alignment of the roadways would be determined in the future.
ENGINEERING
Prosper is a place where everyone matters.
Item 12
Page 2 of 2
As part of the Town’s update to the Comprehensive Plan in 2012, the Town’s consultant
evaluated the Town’s Thoroughfare Plan and also the alternative to realign the future roadway
paralleling the Dallas North Tollway from First Street to Prosper Trail to connect with Cook Lane
south of Prosper Trail. The recommendation was that a continuous DNT Backer Road east of
the Dallas North Tollway, from US 380 to Frontier Parkway, would help to support development
connectivity and accessibility. As depicted on the DNT Backer Road exhibit from the
Comprehensive Plan, a realignment of the DNT Backer Road at Prosper Trail was identified to
avoid existing development and retain continuity for development opportunity to the north and
south. This realigned commercial collector would still allow for 400’ - 600’ lot depth for
properties along the Dallas North Tollway. With the adoption of the Comprehensive Plan, the
Town’s Thoroughfare Plan was updated to illustrate the recommended alignment of the DNT
Backer Road east of the Dallas North Tollway.
Since the adoption of the Town’s Comprehensive Plan in 2012, Town staff has met again with
representatives of Prestonwood Baptist Church and Blue Star Land to discuss the
recommended location of the DNT Backer Road east of the Dallas North Tollway. As depicted
on the preliminary site plan for Prestonwood Baptist Church, a proposed fire lane on the
western edge of the Prestonwood Baptist Church property was discussed as a potential
alignment for the DNT Backer Road. This location would achieve the desired connectivity to the
north and south, save Prestonwood Baptist Church the construction costs associated with a fire
lane since the DNT Backer Road would be constructed in its place, and provide a potential land
sale of property to Blue Star west of the DNT Backer Road to deepen the property along the
Dallas North Tollway. The consensus from the last meeting in early 2013, was that
Prestonwood Baptist Church and Blue Star Land would continue discussions on an alignment of
the DNT Backer Road that would be amicable to their proposed developments.
On January 31, 2014, the engineer for Prestonwood Baptist Church informed Town staff that
Prestonwood Baptist Church and Blue Star are still discussing the proposed alignment of the
DNT Backer Road east of the Dallas North Tollway between their respective properties. Town
staff will continue to assist Prestonwood Baptist Church and Blue Star Land on an alignment of
the DNT Backer Road east of the Dallas North Tollway that will avoid proposed development
while retaining continuity for development opportunity to the north and south as recommended
in the Town’s 2012 Comprehensive Plan.
Attached Documents:
1. Thoroughfare Plan – October 2003
2. Thoroughfare Plan – June 2006
3. Thoroughfare Plan – March 2012
4. DNT Backer Road Exhibit from Comprehensive Plan
5. Preliminary Site Plan – Prestonwood Baptist Church
Town Staff Recommendation:
Town staff recommends that the Town Council direct Town staff to continue working with
Prestonwood Baptist Church and Blue Star Land on an alignment of the DNT Backer Road east
of the Dallas North Tollway that will avoid proposed development while retaining continuity for
development opportunity to the north and south as recommended in the Town’s 2012
Comprehensive Plan.
Item 12
Item 12
FIRST ST
US HIGHWAY 380FM 1385COIT RDPROSPER TRAIL
FRONTIER PKWY
LEGACY DRPARVIN RD
CUSTER RDFISH TRAP ROAD
PRESTON ROADTEEL PKWYGEEDALLAS NORTH TOLLWAYCOLEMAN
S COLEMANN COLEMANLA CIMA BLVDTEEL PKWYLegend
Rail
Streams
Local Roads
Lakes
Town Limits
Thoroughfare Plan
Commercial Collector
3 Lane
4 Lane Divided
6 Lane Divided
Dallas North Tollway
Master ThoroughfarePlan
June 2006
´4,000 0 4,0002,000
Feet
Item 12
kj
kj kj
kj
kj
kj
kj
kj kj kj
kj kj
kjkj
kj
Parvin Rd.F.M. 1385GeeFish Trap Rd.
U.S. 380 Dallas North TollwayProsper Trail
First St.La Cima Blvd.Frontier Pkwy.Preston Rd.Coit Rd.F.M. 1461 F.M. 2478F.M. 2478Custer Rd.F.M. 423Teel Pkwy.Legacy Dr.Virginia Pkwy.BNSF RRS. ColemanN. ColemanLovers Ln Hays RdThoroughfare Plan
Plate 3
March 2012
0 0.5 1 1.50.25 MilesZ
Thoroughfare Description
Old Town District (Section varies)
Minor Thoroughfare (4 lane; 90' ROW)
Commercial Couplet (3 lane; 65' ROW)
Commercial Collector (2 lane; 60' ROW)
Access Roads
Dallas North Tollway
Major Thoroughfare (6 lane; 120' ROW)
Town of Prosper
ETJ
100 Year Floodplain
kj Minor Gateway
Grade Separation
RR Grade Separation
Major Gatewaykj
Item 12
DNT Backer Road – East of Dallas North Tollway
2012 Comprehensive Plan
Item 12
Page 1 of 2
To: Mayor and Town Council
From: Chris Copple, AICP, Director of Development Services
Through: Harlan Jefferson, Town Manager
Re: Town Council Meeting – February 11, 2014
Agenda Item:
Discuss and provide direction for the naming of future thoroughfares as shown on the
Thoroughfare Plan.
Description of Agenda Item:
At the January 14, 2014, Town Council meeting, the Council directed Town staff to provide
options for the naming of future thoroughfares as shown on the Thoroughfare Plan. Currently,
there are four roadway segments in need of naming, as shown on the attached exhibit.
1. Thoroughfare #1 is a 4-lane divided north/south minor thoroughfare located west of Dallas
Parkway. Staff recommends Shawnee Trail as a naming option for this future thoroughfare. The
Shawnee Trail is a historical trade route dating back to the 1840s running north/south from Texas
to Missouri by way of Prosper.
2. Thoroughfare #2 is a 4-lane divided east/west minor thoroughfare located north of U.S. Highway
380. Staff recommends Blackland Prairie Drive as a naming option for this future thoroughfare.
The Blackland Prairie is an approximately 20,000-square-mile ecological area distinct by its fertile
black soil and the tall grasses of its flatlands. The Blackland Prairie comprises much of the
western Prosper landscape.
3. Thoroughfare #3 is a 2-lane undivided north/south commercial collector located east of Dallas
Parkway, which intersects with CR 50 in Celina at Frontier Parkway. Celina does not have plans
for an alternate name for CR 50 at this time. Staff recommends Business Park Drive as a
naming option for this future thoroughfare. There is currently an existing roadway segment along
this thoroughfare alignment, south of First Street, already named Business Park Drive, and it is
located in the Future Land Use Plan’s Business Park District.
4. Thoroughfare #4 is a 4-lane divided north/south minor thoroughfare located west of Dallas
Parkway, which intersects with CR 26 in Frisco at U.S. Highway 380. Frisco is in the process of
renaming CR 26 to Mahard Parkway where intersecting with this future thoroughfare. Staff
recommends Mahard Parkway as a naming option for this future thoroughfare. The Mahard
family has a history in Prosper dating back to the late 19th Century, descendents of which
established the Mahard Egg Farm in 1926.
Prosper is a place where everyone matters.
PLANNING
Item 13
Page 2 of 2
Attached Documents:
1. Naming of future thoroughfares exhibit.
2. Alternative thoroughfare names.
Town Staff Recommendation:
Town staff recommends the Town Council provide direction for the naming of future
thoroughfares as shown on the Thoroughfare Plan. The thoroughfares will be named through
the Town’s platting process as adjacent property develops.
Item 13
kj
kj kj
kj
kj
kj
kj
kj kj kj
kj kj
kjkj
kj
Parvin Rd.F.M. 1385GeeFish Trap Rd.
U.S. 380 Dallas North TollwayProsper Trail
First St.La Cima Blvd.Frontier Pkwy.Preston Rd.Coit Rd.F.M. 1461 F.M. 2478F.M. 2478Custer Rd.F.M. 423Teel Pkwy.Legacy Dr.Virginia Pkwy.BNSF RRS. ColemanN. ColemanLovers Ln Hays RdThoroughfare Plan
Plate 3
March 2012
0 0.5 1 1.50.25 MilesZ
Thoroughfare Description
Old Town District (Section varies)
Minor Thoroughfare (4 lane; 90' ROW)
Commercial Couplet (3 lane; 65' ROW)
Commercial Collector (2 lane; 60' ROW)
Access Roads
Dallas North Tollway
Major Thoroughfare (6 lane; 120' ROW)
Town of Prosper
ETJ
100 Year Floodplain
kj Minor Gateway
Grade Separation
RR Grade Separation
Major Gatewaykj
Item 13
Alternative Thoroughfare Names
The following is a list of future thoroughfare naming options that are available for consideration:
Prosper Mayors
1. Boyer
2. Clary
3. Cockrell
4. Coffman
5. Dunmire
6. Mullendore
7. Niswanger
8. Skelton
9. Smith
10. Smothermon
Early Prosper Families
11. Barlow
12. Beanland
13. Crockett
14. Horn
15. McElhannon
16. Maxey
17. Naugle
18. Settle
19. Talkington
Prosper is a place where everyone matters.
PLANNING
Item 13