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02.25.2014 Town Council Packet Page 1 of 4 ] 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. 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.) 4a. Consider and act upon minutes from the following Town Council meeting. (RB)  Regular Meeting – February 11, 2014 4b. Consider and act upon canceling the March 11, 2014, Town Council meeting. (RB) 4c. Consider and act upon adopting a resolution ordering a General Election to be held on May 10, 2014, and authorizing the Town Manager to execute agreements with the Collin County Election Administration and the Denton County Election Administration to provide joint election services with the Prosper Independent School District. (RB) 4d. Consider and act upon appointing Mark DeMattia to the Board of Directors, and approving the appointment of Nathan P. Bontke, Scott Ramsey, Brett L. Pedigo, and David Blom for the remaining positions on the Board of Directors for the Prosper Management District No. 1. (RB) 4e. Consider approval of the purchase of one brush truck for the Fire Department, from Chastang Ford, through the Houston-Galveston Area Council (HGAC) Cooperative Purchasing Program; and authorize prepayment options. (JC) 4f. Receive the January 2014 Financial Report. (KA) 4g. Receive the Quarterly Investment Report for the quarter ending December 31, 2013. (KA) 4h. Consider and act upon an addendum to the current Interlocal agreement between the Town of Prosper and the North Central Texas Council of Government (NCTCOG) regarding the implementation of the Smart911 system. (DK) AGENDA Meeting of the Prosper Town Council Prosper Municipal Chambers 108 W. Broadway, Prosper, Texas Tuesday, February 25, 2014 6:00 p.m. Page 2 of 4 4i. Consider and act upon receiving the 2013 Racial Profiling Report as required by state law. (DK) 4j. Consider and act upon an ordinance establishing a curfew for juveniles under the age of 17 years. (DK) 4k. Consider and act upon an ordinance rezoning 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) 4l. Consider and act upon an ordinance amending 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) 5. 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.) PUBLIC HEARINGS: 6. Conduct a Public Hearing, and consider and act upon a request to rezone 0.7± acre from Single Family-15 (SF-15) to Downtown Single Family (DTSF), located on the north side of Third Street, 200± feet west of Church Street (309 E. Third Street). (Z14-0001). (CC) 7. Conduct a Public Hearing, and consider and act upon a request to rezone 0.3± acre from Single Family-15 (SF-15) to Downtown Retail (DTR), located on the west side of Coleman Street, 100± feet south of Fifth Street. (Z14-0002). (CC) 8. Conduct a Public Hearing, and consider and act upon a request to rezone 0.4± acre from Single Family-15 (SF-15) to Downtown Office (DTO), located on the northwest corner of Craig Road and First Street (713 E. First Street). (Z14-0003). (CC) Page 3 of 4 DEPARTMENT ITEMS: 9. Consider and act upon authorizing the Town Manager to enter into an Alternate Funding Procedure Agreement between the Town of Prosper and the Upper Trinity Regional Water District (UTRWD). (KA) 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 all matters incident and related to the issuance and sale of the Town of Prosper, Texas General Obligation Refunding and Improvement Bonds, Series 2014, including the adoption of an ordinance authorizing the issuance of such Bonds, approving an Official Statement, a Bond Purchase Agreement, a Paying Agent/Registrar Agreement, and an engagement letter of Bond Counsel. (KA) 12. Consider and act upon an ordinance of the Town Council of the Town of Prosper, Texas, amending the budget for fiscal year 2013-2014 in accordance with existing statutory requirements and appropriating the various amounts referenced herein; making findings related thereto, providing repealing, savings and severability clauses; and providing for an effective date. (KA) 13. Consider and act upon authorizing the Town Manager to execute a Fifth Amendment to the Preannexation Agreement between the Town of Prosper and TVG Texas I, LLC. (CC) 14. Discussion on the Town Council strategic goal: Develop a plan for recreation programs to be offered by the Town. (JS) 15. 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: 15a. Section 551.087. - To discuss and consider economic development incentives. 15b. 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. 15c. Section 551.074 - To discuss and review the Town Manager’s performance evaluation. 16. Reconvene in Regular Session and take any action necessary as a result of the Closed Session. Page 4 of 4 17. Possibly direct Town staff to schedule topic(s) for discussion at a future meeting.  Temporary Building Standards. (CC) 18. 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 21, 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 6:02 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 Trish Featherston, Accounting Manager 2. Invocation, Pledge of Allegiance and Pledge to the Texas Flag. Pastor Wayne Bartley of First Baptist Prosper led the invocation. 3. Announcements of upcoming events. Mayor Pro-Tem Miller made the following announcements: The City of McKinney has closed Coit Road south of the US 380 intersection in preparation for constructing a new asphalt connection. Southbound motorists should use Preston Road or Custer Road to minimize delays. Weather permitting, the intersection is scheduled to reopen this Friday, February 14. The North Texas Municipal Water District will conduct maintenance on its system from February 17 through March 17. This annual winter maintenance reduces the need to flush systems during the warm weather periods, and conserves water. While residents might notice a change in the taste and odor of the water during this time, the water will continue to be safe. Collin County is hosting a public meeting for area residents to review the Draft Collin County Mobility Plan on Tuesday, February 18, from 6-8:30 p.m. at the Collin County MINUTES Regular Meeting of the Prosper Town Council Prosper Municipal Chambers 108 W. Broadway, Prosper, Texas Tuesday, February 11, 2014 Page 2 of 7 Community College Campus in McKinney. The plan is updated every five years to address transportation needs of county residents and businesses. Prosper’s annual Trout Derby will be held on Saturday, February 22, from 9:00-11:00 a.m. at Frontier Park. This free, family activity encourages youth to learn about fishing. Prizes for various age groups will be awarded. Contact Julie Shivers with the Parks & Recreation Department for more information. The Town will hold its third annual Prosper Spring Clean Up event on Saturday, March 22, from 8:00 a.m.-Noon in the parking lots around Main Street Park. Residents may bring old electronics, tree and yard debris, and bulk items to be recycled. On-site shredding services will be available. Please bring a current water bill and drivers license as proof of residency. For more information, please contact Kelly Vanaman in Utility Billing. 4. Presentation.  GFOA Achievement of Excellence in Financial Reporting—for fiscal year ended September 30, 2012. (KA) Mayor Smith, Deputy Mayor Pro-Tem Dugger, and Councilmember Vogelsang presented the GFOA Achievement of Excellence in Financial Reporting plaque to Finance Director Kent Austin and Accounting Manager Trish Featherston. 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 Deputy Mayor Pro-Tem Dugger made a motion and Mayor Pro-Tem Miller 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: Alan Michlin, 3526 Smiley Road, Prosper, spoke regarding poor road conditions on the west side of Prosper. He urged Council to improve the maintenance of roads and Page 3 of 7 encouraged the use of chip seal rather than curb and gutter pavement on the west-side roads. 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.) 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) Mayor Smith recused himself from Items 7 and 8, as he is currently a member of the Board of Directors of Lighthouse Church, and he stepped down from the Council bench. Chris Copple, Director of Development Services, presented this item before the Town Council. The proposed zoning request is to allow for non-residential development and reduce the list of permitted uses from those allowed under straight Office zoning. The Future Land Use Plan (FLUP) recommends Low Density Residential uses for the property; however, Town Staff has considered the request using criteria provided in the Comprehensive Plan for zoning requests that deviate from the FLUP. The Planning and Zoning Commission has approved the request, and Town Staff recommends approval as well. Mr. Copple responded to questions from the Town Council on building height requirements and responses submitted by adjacent property owners. Mayor Pro-Tem Miller opened the Public Hearing. With no-one speaking, Mayor Pro-Tem Miller closed the Public Hearing. Councilmember Korbuly made a motion and Deputy Mayor Pro-Tem Dugger seconded the motion to 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). The motion was approved by a vote of 6-1. 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) Chris Copple, Director of Development Services, presented this item before the Town Council. The proposed zoning request is to allow for the addition of two temporary buildings to be located north of the existing building within the PD. While the FLUP recommends Low Density Residential Uses for the property, the property was rezoned Planned Development-57-Office (PD-O) after consideration of the criteria outlined in the Page 4 of 7 Comprehensive Plan for zoning requests that deviate from the FLUP. The Planning and Zoning Commission has approved the request, subject to landscaping being planted between the temporary buildings and the Rhea Mills subdivision. The proposed ordinance exhibits have been updated to reflect this recommendation, and Town staff recommended approval of the request. Mr. Copple responded to questions from the Town Council regarding the landscaping requirements, detention pond, and requirements for temporary buildings under the current Town ordinance. Mayor Pro-Tem Miller opened the Public Hearing. Toby Haggard, 3737 E. Prosper Trail, Prosper, commented that the school district owns temporary buildings, and are unlikely to leave them behind. With no-one else speaking, Mayor Pro-Tem Miller closed the Public Hearing. Councilmember Vogelsang made a motion and Deputy Mayor Pro-Tem Dugger seconded the motion to 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. The motion was approved by a vote of 6-1. 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) Town Secretary Robyn Battle presented this item before the Town Council. At the January 28, 2014, Town Council meeting, the 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. Ms. Battle reviewed the staff time required to process an alcohol permit, and responded to questions from the Town Council on the permit process. After discussion, Deputy Mayor Pro-Tem Dugger made a motion and Councilmember Wilson seconded the motion to adopt Ordinance No. 14-06, 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. The motion was approved by a vote of 7-0. 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) Finance Director Kent Austin presented this item before the Town Council. 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 Page 5 of 7 built by the Upper Trinity Regional Water District (UTRWD) 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. Town 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. After discussion, Mayor Pro-Tem Miller made a motion and Councilmember Wilson seconded the motion 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. The motion was approved by a vote of 7-0. Town Manager Harlan Jefferson then informed the Town Council that the Town’s bond rating had been increased. Mr. Austin explained that Moody’s had recently upgraded the Town’s bond rating from AA3 to AA2, which indicates the Town is a high-quality, low- risk bond issuer. 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) Hulon Webb, Executive Director of Development and Community Services, presented this item before the Town Council. 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. Mr. Webb responded to questions from the Town Council regarding the dedication and platting process, and access to trail connections around Town Lake. The Parks and Recreation Board approved the request, and Town staff recommended approval as well. After discussion, Councilmember Wilson made a motion and Councilmember Korbuly seconded the motion to approve 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. The motion was approved by a vote of 7-0. 12. Discuss and provide update on status of proposed alignment of DNT Backer Road. (HW) Since 2003, the Town’s Thoroughfare Plans have depicted future roadways paralleling the Dallas North Tollway on either side from First Street to Frontier Parkway. In 2006, the Town Council approved a zoning request from 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. Town staff met with representatives from Prestonwood Baptist Church, Blue Star Land, and Page 6 of 7 Tomlin Investments on the proposed realignment of the roadway paralleling the Dallas North Tollway from First Street to Prosper Trail, as well as a new east-west divided thoroughfare. Consensus could not be reached, so the preliminary site plan was approved which depicted the future roadways within the property boundaries of Prestonwood Baptist Church with a note that the alignment of the roadways would be determined at a future date. As part of the Town’s 2012 update to the Comprehensive Plan, the Town’s consultant recommended a continuous DNT Backer Road east of the Dallas North Tollway, from US 380 to Frontier Parkway. The Town’s Thoroughfare Plan was updated to reflect this recommendation. Discussions are ongoing between Town staff and the property owners to develop an alignment plan that is acceptable to all parties. Town staff was directed to continue discussions to find a feasible resolution for the alignment. 13. Discuss and provide direction to Town staff regarding the naming of future thoroughfares. (CC) Chris Copple, Director of Development Services, presented this item before the Town Council. Town staff is seeking direction from the Town Council on four unnamed segments depicted on the Town’s Thoroughfare Plan. Mr. Copple reviewed Town staff’s recommendations. Mr. Copple responded to questions regarding addressing and street naming standards for streets that change direction. The Town Council recommended the following names: Thoroughfare #1 – Shawnee Trail Thoroughfare #2 – Prairie Drive Thoroughfare #3 – will remain unnamed until the alignment of the DNT Backer Road is resolved Thoroughfare #4 – Mahard Parkway Councilmember Dixon asked a question to confirm whether the proposed DNT Backer Road would continue to US 380. Mr. Webb confirmed that it would. 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. The Town Council recessed into Executive Session at 7:18 p.m. 15. Reconvene in Regular Session and take any action necessary as a result of the Closed Session. Page 7 of 7 The Regular Session was reconvened at 7:55 p.m. No action was taken as a result of Executive Session. 16. Possibly direct Town staff to schedule topic(s) for discussion at a future meeting.  Possibly cancel March 11, 2014, Town Council meeting. (RB) Town Secretary Robyn Battle proposed canceling the March 11, 2014, Town Council meeting due to Spring Break. The Town Council agreed to cancel the meeting, as there are not many items on the agenda.  Update on 100-Year Celebration (RB) Town Secretary Robyn Battle updated the Town Council on the plans discussed by the 100-Year Celebration planning committee. Proposals include a celebration in downtown Prosper on April 26, and a ceremony to rename Frontier Park Pavilion and to bury a time capsule in April of 2015. The Town Council directed staff to pursue plans for both events. 17. Adjourn. The meeting was adjourned at 8:09 p.m., on Tuesday, February 11, 2014. These minutes approved on the 25th day of February, 2014. APPROVED: Ray Smith, Mayor ATTEST: Robyn Battle, Town Secretary Page 1 of 1 To: Mayor and Town Council From: Robyn Battle, Town Secretary Through: Harlan Jefferson, Town Manager Re: Town Council Meeting – February 25, 2014 Agenda Item: Consider and act upon canceling the March 11, 2014, Town Council meeting. Description of Agenda Item: Due to the upcoming Spring Break holiday, Town staff recommends canceling the March 11, 2014, Town Council meeting. The next Council meeting is scheduled for March 25, 2014. Proposed Motion: I make a motion to cancel the March 11, 2014, Town Council meeting. Prosper is a place where everyone matters. ADMINISTRATION Item 4b Page 1 of 2 To: Mayor and Town Council From: Robyn Battle, Town Secretary Through: Harlan Jefferson, Town Manager Re: Town Council Meeting – February 25, 2014 Agenda Item: Consider and act upon adopting a resolution ordering a General Election to be held on May 10, 2014, and authorizing the Town Manager to execute agreements with the Collin County Election Administration and the Denton County Election Administration to provide joint election services with the Prosper Independent School District. Description of Agenda Item: In accordance with Texas Election Law, the Prosper Town Council is responsible for ordering the General Election to be held on the second Saturday in May for the purpose of electing the Council members for Place 3 and Place 5. For the past several years, the Town has contracted with either Denton County or Collin County for election services, and each has been willing to accommodate voters within the Town of Prosper, including those portions outside of their respective counties. Earlier this year, Denton County informed the Town that they would only accommodate elections within the borders of Denton County. Collin County has adopted a similar policy. As a result, the Town must now enter into contracts with both counties to accommodate all voters within the Town limits. The order of the General Election is shown in the form of the attached resolution. The resolution also authorizes the Town Manager to enter into contracts with the Elections Administrators of Collin County and Denton County to provide joint election services for the May 10, 2014, General Election with the Prosper Independent School District. Important dates related to the election are listed on the attached Election Calendar. Budgetary Impact: The Collin County Election Administrator has estimated the Town of Prosper’s portion of the joint election to be approximately $4,800. The Denton County Election Administrator has estimated the Town of Prosper’s portion of the joint election to be $400. The total cost for Denton County to administer the May 11, 2013, General Election was approximately $1,870. Attached Documents: 1. Resolution 2. Collin County Joint General Election Contract 3. Denton County Joint General Election Contract 4. Election Calendar Prosper is a place where everyone matters. ADMINISTRATION Item 4c Page 2 of 2 Town Staff Recommendation: Town staff recommends the Town Council adopt a resolution ordering a General Election to be held on May 10, 2014, and authorizing the Town Manager to execute agreements with the Collin County Election Administration and the Denton County Election Administration to provide joint election services with the Prosper Independent School District. Proposed Motion: I move to adopt a resolution ordering a General Election to be held on May 10, 2014, and authorizing the Town Manager to execute agreements with the Collin County Election Administration and the Denton County Election Administration to provide joint election services with the Prosper Independent School District. Item 4c TOWN OF PROSPER, TEXAS RESOLUTION NO. 14-__ A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF PROSPER, COLLIN AND DENTON COUNTIES, TEXAS, ORDERING A GENERAL ELECTION TO BE HELD JOINTLY WITH THE PROSPER INDEPENDENT SCHOOL DISTRICT AND ADMINSTERED BY THE COLLIN COUNTY ELECTIONS ADMINISTRATOR AND THE DENTON COUNTY ELECTIONS ADMINISTRATOR ON MAY 10, 2014, FOR THE PURPOSE OF ELECTING TWO MEMBERS OF THE PROSPER TOWN COUNCIL (PLACE 3 AND PLACE 5) TO FILL EXPIRING TERMS; DESIGNATING POLLING PLACES; DESIGNATING LOCATIONS OF POLLING PLACES; DESIGNATING FILING DEADLINES; ORDERING NOTICES OF ELECTION TO BE GIVEN AS PRESCRIBED BY LAW IN CONNECTION WITH SUCH ELECTION; APPOINTING AN ELECTION JUDGE; AUTHORIZING EXECUTION OF JOINT ELECTION AGREEMENTS; AND PROVIDING FOR AN EFFECTIVE DATE. UNA RESOLUCION DEL CONCILIO DEL PUEBLO DE PROSPER, CONDADOS DE COLLIN Y DENTON, TEXAS, ORDENA UNA ELECCION GENERAL QUE SE CONDUZCA JUNTAMENTE CON EL DISTRITO ESCOLAR INDEPENDIENTE DE PROSPER Y ADMINISTRADA POR EL ADMINISTRADOR DE ELECCIONES DEL CONDADO DE DENTON Y ADMINISTRADA POR EL ADMINISTRADOR DE ELECCIONES DEL CONDADO DE COLLIN EL 10 DE MAYO 2014 CON EL PROPOSITO DE ELEGIR DOS MIEMBROS DEL CONCILIO (LUGAR 3 Y LUGAR 5) PARA LLENAR LOS TERMINOS DE PLAZO; DESIGNANDO LUGARES DE VOTACION; DESIGNANDO FECHAS DE APLICACIÓN; ORDENANDO QUE NOTICIAS DE ELECCION SEAN DIVULGADAS COMO PROMULGADO POR LEY EN CONEXION CON TALES ELECCIONES; APUNTANDO JUEZ ELECTORAL; QUE AUTORIZA LA EJECUCIÓN DE LOS ACUERDOS ELECTORALES CONJUNTAS; Y PROVEYENDO FECHA EFECTIVA. NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF PROSPER, TEXAS THAT: AHORA, POR LO TANTO, SEA RESUELTO POR EL CONCILIO DEL PUEBLO DE PROSPER, TEXAS QUE: SECTION 1 A General Election is hereby ordered for the Town of Prosper, Texas (“Prosper”), to be held jointly with the Prosper Independent School District on Saturday, May 10, 2014, for the purpose of electing two (2) Town Council members to fill the expiring terms of the Prosper Town Council Place 3 and Place 5 (“General Election”), said General Election shall be administered by the Collin County Elections Administrator and the Denton County Elections Administrator. SECCIÓN 1 Una Elección General es ordenada para el Pueblo de Prosper, Texas (“Prosper”) conducida juntamente con el Distrito Escolar Independiente de Prosper el sábado 10 de mayo 2014 con el propósito de elegir dos miembros del Concilio del Pueblo para llenar los términos Item 4c Resolution No. 14-__, Page 2 de plazo del Lugar 3 y Lugar 5 del Concilio del Pueblo de Prosper (“Elección General”), dicha Elección General será administrada por el Administrador de Elecciones del Condado de Collin y el Administrador de Elecciones del Condado de Denton. SECTION 2 No person’s name shall be placed upon the ballot as a candidate for Council Member unless such person has filed his or her sworn application as provided by Section 141.03 of the Texas Election Code, with the Town Secretary of the Town at Prosper EDC, located at 121 W. Broadway Street, Prosper, Texas 75078, not later than 5:00 p.m. on the 28th day of February, 2014. The Town Secretary shall note on the face of each such application the date of such filing. Such application shall include the office the candidate is seeking. SECCIÓN 2 Ningún nombre de cualquier persona será agregado a la balota como candidato para miembro del Concilio hasta que dicha persona someta su aplicación verificada como promulgado por Sección 141.03 del Código Electoral de Texas con la Secretaria del Pueblo de Prosper, localizado en 121 W. Broadway Street, Prosper, Texas 75078, no más tarde que las 17 horas el 28 de febrero 2014. La Secretaria del Pueblo de Prosper anotara en la página principal de cada aplicación la fecha cuando fue sometida. Tal aplicación incluirá el puesto que el candidato/a busca. SECTION 3 Qualified voters of the following election precincts shall cast ballots for the General Election at the heretofore established and designated polling place within Prosper as follows: SECCION 3 Votantes calificados en los siguientes precintos electorales votaran en la Elección General en los lugares de votación establecidos y designados entre Prosper a lo siguiente: Town Precincts Polling Place 13, 29, 178, and 199 Prosper ISD Central Administration Building (Collin County) 605 E. 7th Street Prosper, Texas 75078 1004 (Denton County) Denton County Elections Administration 701 Kimberly Drive Denton, Texas 76208 General Election polls shall be open from 7:00 a.m. until 7:00 p.m. on the date of the General Election, Saturday, May 10, 2014. Lugares de votación en la Elección General se dejaran abiertos desde las 7 hasta las 19 horas en la fecha de la Elección General, sábado 10 de mayo 2014. Item 4c Resolution No. 14-__, Page 3 SECTION 4 Early voting by personal appearance for Denton County residents shall be available at the Denton County Elections Office, 701 Kimberly Drive, Denton, Texas 76208, and for Collin County residents at the Town of Prosper Municipal Chambers, 108 W. Broadway, Prosper, Texas 75078, from 8:00 a.m. to 5:00 p.m., Monday through Saturday, beginning on Monday, April 28, 2014, and continuing through Saturday, May 3, 2014, during regular business hours which is from 8:00 a.m. to 5:00 p.m., for early voting which is not a Sunday or any official State holiday, with extended voting hours being held on Monday, May 5, 2014, from 7:00 a.m. to 7:00 p.m., and Tuesday, May 6, 2014, from 7:00 a.m. to 7:00 p.m. Applications for a ballot by mail shall be requested from and mailed to the Collin County Elections Administration Office, Attn: Elections Administrator, 2010 Redbud Blvd, #102, McKinney, Texas 75069 or to the Denton County Elections Administration Office, Attn: Elections Administrator, 701 Kimberly Drive, Denton, Texas 76208. Applications for a ballot by mail must be received no later than the close of business on May 1, 2014. Town and School District voters may vote at any of the additional Early Voting locations open under full contract services with the Collin County Elections Administrator or the Denton County Elections Administrator, which may be designated after March 3, 2014. This previous sentence shall also be posted in the Notice of Election. SECCIÓN 4 Votación adelantado por apariencia personal será disponible en la Oficina Electoral del Condado de Denton, 701 Kimberly Drive, Denton, Texas 76208 para los residentes del Condado de Denton y en la Sala Municipal del Pueblo de Prosper 108 W. Broadway, Prosper, Texas 75078 para los residentes del Condado de Collin desde las 8 hasta las 17 horas lunes a sábado empezando lunes 28 de abril 2014 y continuando hasta sábado 3 de mayo 2014 durante horas regulares de negocio que son desde las 8 hasta las 17 horas para votación por adelantado que no sea domingo o cualquier otro día de cierro estatal, con horas extendidas de votación disponible el lunes 5 de mayo 2014 desde las 7 hasta las 19 horas y martes 6 de mayo 2014 desde las 7 hasta las 19 horas. Aplicaciones para balotas por correo serán solicitadas de y regresadas a Collin County Elections Administration Office, Attn: Elections Administrator, 2010 Redbud Blvd, #102, McKinney, Texas 75069 o Denton County Elections Administration Office, Attn.: Elections Administrator, 701 Kimberly Drive, Denton, Texas 76208. Aplicaciones para balota por correo deben recibirse antes del cierro de negocio el 1 de mayo 2014. Votantes del Pueblo y del Distrito Escolar podrán votar en cualquier locación de votación por adelantado abiertas bajo contrato de servicios completo con el Administrador de Elecciones del Condado de Denton, cuales serán designados después de 3 de marzo 2014. Esta frase previa será agregada a la Noticia de Elección. SECTION 5 Candidates must file for a specific place and adhere to the filing deadlines accordingly. Candidate Packets are available in the Town Secretary’s Office. The candidate filing deadlines for the General Election for Mayor and Town Council Place 3 and Place 5 are as follows: Item 4c Resolution No. 14-__, Page 4 SECCIÓN 5 Candidatos tendrán que declarar para un lugar específico y mantener fieldad a las fechas de plazo. Paquetes de Candidato están disponibles en la oficina de la Secretaria del Pueblo. Las fechas de plazo para la Elección General para el Alcalde y miembros del Concilio en Lugar 3 y Lugar 5 son los siguientes: General Election Filing for the Position of Town Council, Place 3 and Place 5 January 29, 2014 beginning at 8:00 a.m. through February 28, 2014 ending at 5:00 p.m. Candidates must file in the Town Secretary’s Office located at 121 W. Broadway Street, Prosper, Texas. Declaración para la Elección General para la Posición de Lugar 3 y Lugar 5 29 de enero 2014 empezando a las 8 hasta 28 de febrero 2014 terminando a las 17 horas. Candidatos tendrán que declarar con la Oficina de la Secretaria del Pueblo localizada en 121 W. Broadway Street, Prosper, Texas. SECTION 6 Direct Record Electronic (DRE) voting machines shall be used in this General Election for early voting by personal appearance and General Election Day voting. Optical-scan ballots shall be used for early voting by mail. SECCIÓN 6 Máquinas de votación tipo Direct Record Electronic (DRE) serán utilizadas en esta Elección General para votación por adelantado por apariencia personal y votación del Dia de la Elección General. Balotas de Optical-scan serán utilizadas para votación por correo. SECTION 7 The Town Secretary is hereby authorized and directed to publish and/or post, in the time and manner prescribed by law, all notices required to be so published and/or posted in connection with the conduct of this General Election. The General Election, including providing notice of the General Election, shall be conducted in accordance with the Texas Election Code and other applicable law, and all resident qualified and registered voters of the Town shall be eligible to vote at the General Election. SECCIÓN 7 La Secretaria del Pueblo es autorizada y dirigida a publicar y/o anunciar, en el tiempo y manera promulgada por la ley, toda noticia requerida que sea publicada y/o anunciada en conexión con la conducta de esta Elección General. La Elección General, incluyendo dando noticia de la Elección General, será conducida en acuerdo con el Código de Elección de Texas y otras leyes aplicables, y todo residente calificado y votantes registrados del Pueblo serán elegibles para votar en la Elección General. SECTION 8 The Election Officer shall arrange for the appointment, notifications, training and compensation of all Election Judges and Alternate Judges in accordance with law. The Item 4c Resolution No. 14-__, Page 5 presiding Judge shall appoint not less than two (2) nor more than nine (9) qualified elections clerks to serve and assist in the conduct of the election in accordance with law. SECCIÓN 8 El Oficial Electoral se encargara con el apuntamiento, notificación, entrenamiento y compensación de todo Juez Electoral y Jueces Alternativos en acuerdo con la ley. El Juez principal apuntara no menos de dos (2) y no mas de nueve (9) dependientes electorales calificados para asistir y servir en el conducto de la elección en acuerdo con la ley. SECTION 9 The Mayor and the Town Secretary of the Town, in consultation with the Town Attorney, are hereby authorized and directed to take any and all actions necessary to comply with the provisions of the Texas Election Code and any other state or federal law in carrying out and conducting the General Election, whether or not expressly authorized herein. The Town Manager is hereby authorized to execute Election Services agreements with the Collin County Elections Department and the Denton County Elections Department for the General Election on May 10, 2014. SECCIÓN 9 El Alcalde y la Secretaria del Pueblo, en consulto con el Abogado del Pueblo, son autorizados y dirigidos a tomar todo y cada acción necesaria para cumplir con las provisiones del Código de Elecciones de Texas y cualquier otra ley estatal o federal en el desempeño y conducta de la Elección General, sea o no expresamente autorizado. El encargado de la ciudad queda autorizado a ejecutar contratos de servicios de la elección con el Departamento de Elecciones del Condado de Collin y el Departamento de Elecciones del Condado de Denton para la Elección General el 10 de mayo de 2014. SECTION 10 This Resolution and order for a General Election shall be effective from and after the passage of this Resolution. SECCIÓN 10 Esta Resolución y orden para una Elección General será en efectivo desde y después de la fecha del pasaje de esta Resolución. DULY PASSED AND APPROVED BY THE TOWN COUNCIL OF THE TOWN OF PROSPER, COLLIN AND DENTON COUNTIES, TEXAS, ON THIS THE 25TH DAY OF FEBRUARY, 2014. DEBIDAMENTE PASADA Y APROBADA POR EL CONCILIO DEL PUEBLO DE PROSPER, CONDADOS COLLIN Y DENTON, TEXAS, ESTE DIA 25 DE FEBRERO 2014. ______________________________ Ray Smith, Mayor Item 4c Resolution No. 14-__, Page 6 ATTEST: _________________________________ Robyn Battle, Town Secretary APPROVED AS TO FORM AND LEGALITY: _________________________________ Terrence S. Welch, Town Attorney Item 4c May 10, 2014 Joint General Election Contract for Election Services Town of Prosper/Prosper ISD Item 4c May 10, 2014 Joint General Election – Town of Prosper and PISD 01/22/14 – Page 2 May 10, 2014 Joint General Election Table of Contents I………………………………………………Duties and Services of Contracting Officer II………………………………..….….Duties and Services of Town and School District III……………………….………………………………………………..Cost of Election IV……………………………………….…………………………….General Provisions Exhibits Exhibit A...…………………………………….……Early Voting Schedule and Locations Exhibit B.….……………………………………………...……Election Day Vote Centers Exhibit C…………………………………………………………………..Cost of Services Item 4c May 10, 2014 Joint General Election – Town of Prosper and PISD 01/22/14 – Page 3 THE STATE OF TEXAS CONTRACT FOR COUNTY OF COLLIN § TOWN – SCHOOL PROSPER ELECTION SERVICES BY THE TERMS OF THIS CONTRACT made and entered into by and between the TOWN OF PROSPER, hereinafter referred to as the "TOWN," and the BOARD OF TRUSTEES OF THE PROSPER INDEPENDENT SCHOOL DISTRICT, hereinafter referred to as the “SCHOOL DISTRICT,” and SHARON ROWE, Elections Administrator of Collin County, Texas, hereinafter referred to as "Contracting Officer," pursuant to the authority in Subchapter D, Section 31.092, of Chapter 31, of the Texas Election Code, agree to the following particulars in regard to coordination, supervision and running of the Town and School District's May 10, 2014 Joint General Election and a Town Runoff Election, if necessary, on June 21, 2014. An additional cost estimate, early voting calendar, and Election Day polling place schedule will be prepared should a Runoff Election be necessary. THIS AGREEMENT is entered into in consideration of the mutual covenants and promises hereinafter set out. IT IS AGREED AS FOLLOWS: I. DUTIES AND SERVICES OF CONTRACTING OFFICER. The Contracting Officer shall be responsible for performing the following duties and shall furnish the following services and equipment: A. The Contracting Officer shall arrange for appointment, notification (including writ of election), training and compensation of all presiding judges, alternate judges, the judge of the Central Counting Station and judge of the Early Voting Ballot Board. a. The Contracting Officer shall be responsible for notification of each Election Day and Early Voting presiding judge and alternate judge of his or her appointment. The recommendations of the Town and the School District will be the accepted guidelines for the number of clerks secured to work in each polling place. The presiding election judge of each polling place, however, will use his/her discretion to determine when additional manpower is needed during peak voting hours. The Contracting Officer will determine the number of clerks to work in the Item 4c May 10, 2014 Joint General Election – Town of Prosper and PISD 01/22/14 – Page 4 Central Counting Station and the number of clerks to work on the Ballot Board. Election judges shall be secured by the Contracting Officer with the approval of the Town and the School District. b. Election judges shall attend the Contracting Officer's school of instruction (Elections Seminar); calendar will be provided. c. Election judges shall be responsible for picking up from and returning election supplies to the county election warehouse located at 2010 Redbud Blvd., Suite 102, McKinney. Compensation for this pickup and delivery of supplies will be $25.00. d. The Contracting Officer shall compensate each election judge and worker. Each judge shall receive $12.00 per hour for services rendered. Each alternate judge and clerk shall receive $10.00 per hour for services rendered. Overtime will be paid to each person working over 40 hours per week. B. The Contracting Officer shall procure, prepare, and distribute voting machines, election kits and election supplies. a. The Contracting Officer shall secure election kits which include the legal documentation required to hold an election and all supplies including locks, pens, magic markers, etc. b. The Contracting Officer shall secure all tables, chairs, and legal documentation required to run the Central Counting Station. c. The Contracting Officer shall provide all lists of registered voters required for use on Election Day and for the early voting period required by law. d. The Contracting Officer shall procure and arrange for the distribution of all election equipment and supplies required to hold an election. Item 4c May 10, 2014 Joint General Election – Town of Prosper and PISD 01/22/14 – Page 5 1. Equipment includes the rental of voting machines, ADA compliance headphones and keypads (1 per site), transfer cases, voting signs and election supply cabinets. 2. Supplies include smart cards, sample ballots, forms, maps, labels, pens, tape, markers, etc. C. The Contracting Officer, Sharon Rowe, shall be appointed the Early Voting Clerk by the Town and the School District. a. The Contracting Officer shall supervise and conduct Early Voting by mail and in person and shall secure personnel to serve as Early Voting Deputies. b. Early Voting by personal appearance for the Town and School District's May 10, 2014, Joint General Election shall be conducted during the time period and at the locations listed in Exhibit “A”, attached and incorporated by reference into this contract. c. All applications for an Early Voting mail ballot shall be received and processed by the Collin County Elections Administration Office, 2010 Redbud Blvd., Suite 102, McKinney, Texas 75069. 1. Application for mail ballots erroneously mailed to the Town or School District shall immediately be faxed to the Contracting Officer for timely processing. The original application shall then be forwarded to the Contracting Officer for proper retention. 2. All Federal Post Card Applicants (FPCA) will be sent a mail ballot. No postage is required. d. All Early Voting ballots (those cast by mail and those cast by personal appearance) shall be prepared for count by the Early Voting Item 4c May 10, 2014 Joint General Election – Town of Prosper and PISD 01/22/14 – Page 6 Ballot Board in accordance with Section 87.000 of the Texas Election Code. The presiding judge of this Board shall be appointed by the Contracting Officer. D. The Contracting Officer shall arrange for the use of all Election Day locations. Vote Centers will be utilized in this election. Voters may also vote at any additional Vote Center open under a full service contract at no additional cost to the jurisdiction. The Town and School District shall assume the responsibility of remitting the cost of all employee services required to provide access, provide security or provide custodial services for the polling locations. The Election Day Vote Centers are listed in Exhibit “B”, attached and incorporated by reference into this contract. E. The Contracting Officer shall be responsible for establishing and operating the Central Counting Station to receive and tabulate the voted ballots in accordance with Section 127.001 of the Election Code and of this agreement. Counting Station Manager and Central Count Judge shall be Sharon Rowe. The Tabulation Supervisor shall be Patty Seals. a. The Tabulation Supervisor shall prepare, test and run the county's tabulation system in accordance with statutory requirements and county policies, under the auspices of the Contracting Officer. b. The Public Logic and Accuracy Test of the electronic voting system shall be conducted. c. Election night reports will be available to the Town and School District at the Central Counting Station on election night. Provisional ballots will be tabulated after election night in accordance with law. d. The Contracting Officer shall prepare the unofficial canvass report after all precincts have been counted, and will provide a copy of the unofficial canvass to the Town and School District as soon as possible after all returns have been tallied. e. The Contracting Officer shall be appointed the custodian of the voted ballots and shall retain all election material for a period of 6 months. Item 4c May 10, 2014 Joint General Election – Town of Prosper and PISD 01/22/14 – Page 7 1. Pending no litigation and as prescribed by law, the voted ballots shall be shredded 6 months after the election. 2. The Town and School District can obtain the list of registered voters from the Elections Administration Office after this retention period. Pending no litigation and if the Town or School District does not request the lists, the Contracting Officer shall destroy them. f. The Contracting Officer shall conduct a manual count as prescribed by Section 127.201 of the Texas Election Code. The Secretary of State may waive this requirement. If applicable, a written report shall be submitted to the Secretary of State as required by Section 127.201(E) of the aforementioned code. II. DUTIES AND SERVICES OF THE TOWN AND SCHOOL DISTRICT. The Town and School District shall assume the following responsibilities: A. The Town and School District shall prepare the election orders, resolutions, notices, justice department submissions, official canvass and other pertinent documents for adoption by the appropriate office or body. The Town and School District assumes the responsibility of posting all notices and likewise promoting the schedules for Early Voting and Election Day. B. The Town and School District shall provide the Contracting Officer with an updated map and street index of their jurisdiction in an electronic (shape file preferred) or printed format as soon as possible but no later than Friday, Feb. 28, 2014. C. The Town and School District shall procure and provide the Contracting Officer with the ballot layout and Spanish interpretation in an electronic format. a. The Town and School District shall deliver to the Contracting Officer as soon as possible, but no later than noon Monday, March 3, 2014, (unless the filing period is extended under statute) the official wording for the Town and School District's May 10, 2014, Joint General Election. Item 4c May 10, 2014 Joint General Election – Town of Prosper and PISD 01/22/14 – Page 8 b. The Town and School District shall approve the "blue line" ballot format prior to the final printing. D. The Town and School District shall post the publication of election notice by the proper methods with the proper media. E. The Town and School District shall prepare and submit to the U. S. Department of Justice under the Federal Voting Rights Act of 1965, any required submissions on voting changes; as applicable under current law. F. The Town and School District shall compensate the Contracting Officer for any additional verified cost incurred in the process of running this election or for a manual count this election may require, consistent with charges and hourly rates shown on Exhibit “C” for required services. G. The Town and School District shall pay the Contracting Officer 90% of the estimated cost to run the said election prior to Friday, April 18, 2014. The Contracting Officer shall place the funds in a "contract fund" as prescribed by Section 31.100 of the Texas Election Code. The Deposit should be delivered within the mandatory time frame to: Collin County Treasury 2300 Bloomdale Rd. #3138 McKinney, Texas 75071 Made payable to: “Collin County Treasury” with the note “for election services” included with check documentation. H. The Town and School District shall pay the cost of conducting said election, less partial payment, including the 10% administrative fee, pursuant to the Texas Election Code, Section 31.100, within 30 days from the date of final billing. III. COST OF SERVICES. See Exhibit “C.” IV. GENERAL PROVISIONS. Item 4c May 10, 2014 Joint General Election – Town of Prosper and PISD 01/22/14 – Page 9 A. Nothing contained in this contract shall authorize or permit a change in the officer with whom or the place at which any document or record relating to the Town and School District's May 10, 2014, Joint General Election is to be filed or the place at which any function is to be carried out, or any nontransferable functions specified under Section 31.096 of the Texas Election Code. B. Upon request, the Contracting Officer will provide copies of all invoices and other charges received in the process of running said election for the Town and School District. C. If the Town and/or School District cancel their election pursuant to Section 2.053 of the Texas Election Code, the Contracting Officer shall be paid a contract preparation fee of $75. An entity canceling an election will not be liable for any further costs incurred by the Contracting Officer in conducting the May 10, 2014, Joint General Election. (Centralized costs incurred in the conduct of the election will be based on the proportionate share of registered voters in each jurisdiction contracting with the Contracting Officer and holding a May 10, 2014, Joint General Election.) D. The Contracting Officer shall file copies of this contract with the County Judge and the County Auditor of Collin County, Texas. Item 4c May 10, 2014 Joint General Election – Town of Prosper and PISD 01/22/14 – Page 10 WITNESS BY MY HAND THIS THE DAY OF 2014. Sharon Rowe Elections Administrator Collin County, Texas WITNESS BY MY HAND THIS THE DAY OF 2014. By:___________________________ Attest:____________________________ Harlan Jefferson, Town Manager Robyn Battle, Town Secretary Town of Prosper Town of Prosper WITNESS BY MY HAND THIS THE DAY OF 2014. By:______________________________ Attest:________________________________ Dr. Drew Watkins, Superintendent Dr. Michael Goddard, Asst. Superintendent Prosper Independent School District Prosper Independent School District Item 4c May 10, 2014 Joint General Election – Town of Prosper and PISD 01/22/14 – Page 11 Exhibit “A” MAY 10, 2014, JOINT GENERAL ELECTION Town of Prosper & Prosper ISD* Early Voting Locations and Hours Polling Place Address Town Collin County Election Office (Main Early Voting Location) 2010 Redbud Blvd., #102 McKinney Prosper Municipal Chambers 108 W. Broadway St. Prosper Sunday Monday Tuesday Wednesday Thursday Friday Saturday April 27 April 28 8am – 5pm April 29 8am – 5pm April 30 8am – 5pm May 1 8am - 5pm May 2 8am - 5pm May 3 8am - 5pm May 4 May 5 7am – 7pm May 6 7am – 7pm May 7 May 8 May 9 May 10 7am – 7pm Election Day * Town and School District voters may vote at any of the additional Early Voting locations open under full contract services with the Collin County Elections Administration. Item 4c May 10, 2014 Joint General Election – Town of Prosper and PISD 01/22/14 – Page 12 Exhibit “B” MAY 10, 2014 JOINT GENERAL ELECTION Election Day Polling Locations –Town of Prosper & PISD* Precincts Location Address Town “VOTE CENTERS” Prosper ISD Administration Bldg. 605 E. 7th Street Prosper * Town and School District voters may vote at any of the additional Election Day Vote Centers open under full contract services with the Collin County Elections Administration. Item 4c SUMMARY OF COSTS FOR TOWN OF PROSPER SUPPLY COST $189.68 EQUIPMENT RENTAL COST $1,254.00 EARLY VOTING $1,638.40 ELECTION DAY $236.50 ADMINISTRATIVE EXPENSES $37.50 TABULATION/CENTRALIZED COSTS $1,000.00 This number could be higher or lower….we have no idea how many jurisdictions will be holding elections Total $4,356.08 10% Administrative Fee $435.61 Grand Total $4,791.69 90% Deposit Due by 4/18/14 $4,312.52 Item 4c Page 1 of 10 THE STATE OF TEXAS COUNTY OF DENTON JOINT ELECTION AGREEMENT AND CONTRACT FOR ELECTION SERVICES THIS CONTRACT for election services is made by and between the Denton County Elections Administrator and the following political subdivisions located entirely or partially inside the boundaries of Denton County: List of entities to be determined after the final order deadline This contract is made pursuant to Texas Election Code Sections 31.092 and 271.002 and Texas Education Code Section 11.0581 for a joint May 10, 2014 election to be administered by Frank Phillips, Denton County Elections Administrator, hereinafter referred to as “Elections Administrator.” RECITALS Each participating authority listed above plans to hold a general and/or special election on May 10, 2014. The County owns an electronic voting system, the Hart InterCivic eSlate/eScan Voting System (Version 6.2.1), which has been duly approved by the Secretary of State pursuant to Texas Election Code Chapter 122 as amended, and is compliant with the accessibility requirements for persons with disabilities set forth by Texas Election Code Section 61.012. The contracting political subdivisions desire to use the County’s electronic voting system and to compensate the County for such use and to share in certain other expenses connected with joint elections in accordance with the applicable provisions of Chapters 31 and 271 of the Texas Election Code, as amended. NOW THEREFORE, in consideration of the mutual covenants, agreements, and benefits to the parties, IT IS AGREED as follows: I. ADMINISTRATION The parties agree to hold a “Joint Election” with each other in accordance with Chapter 271 of the Texas Election Code and this agreement. The Denton County Elections Administrator shall coordinate, supervise, and handle all aspects of administering the Joint Election as provided in this agreement. Each participating authority agrees to pay the Denton County Elections Administrator for equipment, supplies, services, and administrative costs as provided in this agreement. The Denton County Elections Administrator shall serve as the administrator for the Joint Election; however, each participating authority shall remain responsible for the decisions and actions of its officers necessary for the lawful conduct of its election. The Elections Administrator shall provide advisory services in connection with decisions to be made and actions to be taken by the officers of each participating authority as necessary. At each polling location, joint participants shall share voting equipment and supplies to the extent possible. The participating authorities shall share a mutual ballot in those polling places where jurisdictions overlap. However, in no instance shall a voter be permitted to receive a ballot containing an office or proposition stating a measure on which the voter is ineligible to vote. II. LEGAL DOCUMENTS Each participating authority shall be responsible for the preparation, adoption, and publication of all required election orders, resolutions, notices, and any other pertinent documents required by the Texas Election Code and/or the participating authority’s governing body, charter, or ordinances, except that the Elections Administrator shall be responsible for the preparation and publication of all electronic voting equipment testing notices that are required by the Texas Election Code. Election orders should include language that would not necessitate amending the order if any of the Early Voting and/or Election Day polling places change. Item 4c Page 2 of 10 Preparation of the necessary materials for notices and the official ballot shall be the responsibility of each participating authority, including translation to languages other than English. Each participating authority shall provide a copy of their respective election orders and notices to the Denton County Elections Administrator. III. VOTING LOCATIONS The Elections Administrator shall select and arrange for the use of and payment for all Election Day voting locations. Voting locations will be, whenever possible, the usual voting location for each election precinct in elections conducted by each participating city, and shall be compliant with the accessibility requirements established by Election Code Section 43.034 and the Americans with Disabilities Act (ADA). The proposed voting locations are listed in Attachment A of this agreement. In the event that a voting location is not available or appropriate, the Elections Administrator will arrange for use of an alternate location with the approval of the affected participating authorities. The Elections Administrator shall notify the participating authorities of any changes from the locations listed in Attachment A. If polling places for the May 10, 2014 joint election are different from the polling place(s) used by a participating authority in its most recent election, the authority agrees to post a notice no later than May 10, 2014 at the entrance to any previous polling places in the jurisdiction stating that the polling location has changed and stating the political subdivision’s polling place names and addresses in effect for the May 10, 2014 election. This notice shall be written in both the English and Spanish languages. IV. ELECTION JUDGES, CLERKS, AND OTHER ELECTION PERSONNEL Denton County shall be responsible for the appointment of the presiding judge and alternate judge for each polling location. The Elections Administrator shall make emergency appointments of election officials if necessary. Upon request by the Elections Administrator, each participating authority agrees to assist in recruiting polling place officials who are bilingual (fluent in both English and Spanish). In compliance with the Federal Voting Rights Act of 1965, as amended, each polling place containing more than 5% Hispanic population as determined by the 2010 Census shall have one or more election official who is fluent in both the English and Spanish languages. If a presiding judge is not bilingual, and is unable to appoint a bilingual clerk, the Elections Administrator may recommend a bilingual worker for the polling place. If the Elections Administrator is unable to recommend or recruit a bilingual worker, the participating authority or authorities served by that polling place shall be responsible for recruiting a bilingual worker for translation services at that polling place. The Elections Administrator shall notify all election judges of the eligibility requirements of Subchapter C of Chapter 32 of the Texas Election Code, and will take the necessary steps to insure that all election judges appointed for the Joint Election are eligible to serve. The Elections Administrator shall arrange for the training and compensation of all election judges and clerks. Election judges and clerks who attend voting equipment training and/or procedures training shall be compensated at the rate of $7 per hour. The Elections Administrator shall arrange for the date, time, and place for presiding election judges to pick up their election supplies. Each presiding election judge will be sent a letter from the Elections Administrator notifying him of his appointment, the time and location of training and distribution of election supplies, and the number of election clerks that the presiding judge may appoint. Each election judge and clerk will receive compensation at the hourly rate established by Denton County ($11 an hour for presiding judges, $10 an hour for alternate judges, and $9 an hour for clerks) pursuant to Texas Election Code Section 32.091. The election judge, or his designee, will receive an additional sum of $25.00 for picking up the election supplies prior to Election Day and for returning the supplies and equipment to the central counting station after the polls close. Item 4c Page 3 of 10 The Elections Administrator may employ other personnel necessary for the proper administration of the election, including such part-time help as is necessary to prepare for the election, to ensure the timely delivery of supplies during early voting and on Election Day, and for the efficient tabulation of ballots at the central counting station. Part-time personnel working as members of the Early Voting Ballot Board and/or central counting station on election night will be compensated at the hourly rate set by Denton County in accordance with Election Code Sections 87.005, 127.004, and 127.006. V. PREPARATION OF SUPPLIES AND VOTING EQUIPMENT The Elections Administrator shall arrange for all election supplies and voting equipment including, but not limited to, the County’s electronic voting system and equipment, sample ballots, voter registration lists, and all forms, signs, maps and other materials used by the election judges at the voting locations. The Elections Administrator shall ensure availability of tables and chairs at each polling place and shall procure rented tables and chairs for those polling places that do not have tables and/or chairs. The Elections Administrator shall be responsible for conducting all required testing of the electronic equipment, as required by Chapters 127 and 129 of the Texas Election Code. At each polling location, joint participants shall share voting equipment and supplies to the extent possible. The participating parties shall share a mutual ballot in those precincts where jurisdictions overlap. Multiple ballot styles shall be available in those shared polling places where jurisdictions do not overlap. The Elections Administrator shall provide the necessary voter registration information, maps, instructions, and other information needed to enable the election judges in the voting locations that have more than one ballot style to conduct a proper election. Each participating authority shall furnish the Elections Administrator a list of candidates and/or propositions showing the order and the exact manner in which the candidate names and/or proposition(s) are to appear on the official ballot (including titles and text in each language in which the authority’s ballot is to be printed). Each participating authority shall be responsible for proofreading and approving the ballot and the audio recording of the ballot, insofar as it pertains to that authority’s candidates and/or propositions. The joint election ballots that contain ballot content for more than one joint participant because of overlapping territory shall be arranged in the following order: Independent School District, City, Water District(s), and other political subdivisions. Early Voting by Personal Appearance and voting on Election Day shall be conducted exclusively on Denton County’s eSlate electronic voting system. The Elections Administrator shall be responsible for the preparation, testing, and delivery of the voting equipment for the election as required by the Election Code. The Elections Administrator shall conduct criminal background checks on relevant employees upon hiring as required by Election Code Section 129.051(g). VI. EARLY VOTING The participating authorities agree to conduct joint early voting and to appoint the Election Administrator as the Early Voting Clerk in accordance with Sections 31.097 and 271.006 of the Texas Election Code. Each participating authority agrees to appoint the Elections Administrator’s permanent county employees as deputy early voting clerks. The participating authorities further agree that the Elections Administrator may appoint other deputy early voting clerks to assist in the conduct of early voting as necessary, and that these additional deputy early voting clerks shall be compensated at an hourly rate set by Denton County pursuant to Section 83.052 of the Texas Election Code. Deputy early voting clerks who are permanent employees of the Denton County Elections Administrator or any participating authority shall serve in that capacity without additional compensation. Item 4c Page 4 of 10 Early Voting by personal appearance will be held at the locations, dates, and times listed in Attachment “B” of this document. Any qualified voter of the Joint Election may vote early by personal appearance at any of the joint early voting locations. As Early Voting Clerk, the Elections Administrator shall receive applications for early voting ballots to be voted by mail in accordance with Chapters 31 and 86 of the Texas Election Code. Any requests for early voting ballots to be voted by mail received by the participating authorities shall be forwarded immediately by fax or courier to the Elections Administrator for processing. The address for the Denton County Early Voting Clerk is: Frank Phillips, Early Voting Clerk Denton County Elections PO Box 1720 Denton, TX 76202 Any requests for early voting ballots to be voted by mail, and the subsequent actual voted ballots, that are sent by a contract carrier (ie. UPS, FedEx, etc.) should be delivered to the Early Voting Clerk at the Denton County Elections Department physical address as follows: Frank Phillips, Early Voting Clerk Denton County Elections 701 Kimberly Drive, Suite A101 Denton, TX 76208 The Elections Administrator shall post on the county website each participating authority’s early voting report on a daily basis and a cumulative final early voting report following the close of early voting. In accordance with Section 87.121(g) of the Election Code, the daily reports showing the previous day’s early voting activity will be posted to the county website no later than 8:00 a.m. each business day. VII. EARLY VOTING BALLOT BOARD Denton County shall appoint an Early Voting Ballot Board (EVBB) to process early voting results from the Joint Election. The Presiding Judge, with the assistance of the Elections Administrator, shall appoint two or more additional members to constitute the EVBB. The Elections Administrator shall determine the number of EVBB members required to efficiently process the early voting ballots. VIII. CENTRAL COUNTING STATION AND ELECTION RETURNS The Elections Administrator shall be responsible for establishing and operating the central counting station to receive and tabulate the voted ballots in accordance with the provisions of the Texas Election Code and of this agreement. The participating authorities hereby, in accordance with Sections 127.002, 127.003, and 127.005 of the Texas Election Code, appoint the following central counting station officials: Counting Station Manager: Frank Phillips, Denton County Elections Administrator Tabulation Supervisor: Brandy Grimes, Denton County Technical Operations Manager Presiding Judge: Kerry Martin, Deputy Elections Administrator Alternate Judge: Paula Paschal, Contract Manager The counting station manager or his representative shall deliver timely cumulative reports of the election results as precincts report to the central and remote counting stations and are tabulated. The manager shall be responsible for releasing unofficial cumulative totals and precinct returns from the election to the joint participants, candidates, press, and general public by distribution of hard copies at the central counting station and by posting to the Denton County web site. Item 4c Page 5 of 10 To ensure the accuracy of reported election returns, results printed on the tapes produced by Denton County’s voting equipment will not be released to the participating authorities at the remote collection sites or by phone from individual polling locations. The Elections Administrator will prepare the unofficial canvass reports after all precincts have been counted, and will deliver a copy of the unofficial canvass to each participating authority as soon as possible after all returns have been tabulated. The Elections Administrator will include the tabulation and precinct-by-precinct results that are required by Texas Election Code Section 67.004 for the participating entities to conduct their respective canvasses. Each participating authority shall be responsible for the official canvass of its respective election(s), and shall notify the Elections Administrator, or his designee, no later than three days after Election Day of the date of the canvass. The Elections Administrator will prepare the electronic precinct-by-precinct results reports for uploading to the Secretary of State as required by Section 67.017 of the Election Code. The Elections Administrator agrees to upload these reports for each participating authority, unless requested otherwise. The Elections Administrator shall be responsible for conducting the post-election manual recount required by Section 127.201 of the Texas Election Code unless a waiver is granted by the Secretary of State. Notification and copies of the recount, if waiver is denied, will be provided to each participating authority and the Secretary of State’s Office. IX. PARTICIPATING AUTHORITIES WITH TERRITORY OUTSIDE DENTON COUNTY Each participating authority with territory containing population outside Denton County agrees that the Elections Administrator shall administer only the Denton County portion of those elections. X. RUNOFF ELECTIONS Each participating authority shall have the option of extending the terms of this agreement through its runoff election, if applicable. In the event of such runoff election, the terms of this agreement shall automatically extend unless the participating authority notifies the Elections Administrator in writing within 3 business days of the original election. Each participating authority shall reserve the right to reduce the number of early voting locations and/or Election Day voting locations in a runoff election. Each participating authority agrees to order any runoff election(s) at its meeting for canvassing the votes from the May 10, 2014 election and to conduct its drawing for ballot positions at or immediately following such meeting in order to expedite preparations for its runoff election. Each participating authority eligible to hold runoff elections agrees that the date of the runoff election, if necessary, shall be Saturday, June 21, 2014. This date may be negotiable based on the Secretary of State’s calendar for elections in 2014. XI. ELECTION EXPENSES AND ALLOCATION OF COSTS The participating authorities agree to share the costs of administering the Joint Election. Allocation of costs, unless specifically stated otherwise, is mutually agreed to be shared according to a formula which is based on the average cost per election day polling place (unit cost) as determined by adding together the overall expenses and dividing the expenses equally among the total number of polling places. Costs for polling places shared by more than one participating authority shall be pro-rated equally among the participants utilizing that polling place. It is agreed that charges for Election Day judges and clerks and Election Day polling place rental fees shall be directly charged to the appropriate participating authority rather than averaging those costs among all participants. Item 4c Page 6 of 10 If a participating authority’s election is conducted at more than one election day polling place, there shall be no charges or fees allocated to the participating authority for the cost of election day polling places in which the authority has fewer than 50% of the total registered voters served by that polling place, except that if the number of registered voters in all of the authority’s polling places is less than the 50% threshold, the participating authority shall pay a pro-rata share of the costs associated with the polling place where it has the greatest number of registered voters. Costs for Early Voting by Personal Appearance shall be allocated based upon the actual costs associated with each early voting site. Each participating authority shall be responsible for a pro-rata portion of the actual costs associated with the early voting sites located within their jurisdiction. Participating authorities that do not have a regular (non-temporary) early voting site within their jurisdiction shall pay a pro-rata portion of the nearest regular early voting site. Costs for Early Voting by mail shall be allocated according to the actual number of ballots mailed to each participating authority’s voters. Each participating authority agrees to pay the Denton County Elections Administrator an administrative fee equal to ten percent (10%) of its total billable costs in accordance with Section 31.100(d) of the Texas Election Code. The Denton County Elections Administrator shall deposit all funds payable under this contract into the appropriate fund(s) within the county treasury in accordance with Election Code Section 31.100. The Denton County Elections Administrator reserves the right to adjust the above formulas in agreement with any individual jurisdiction if the above formula results in a cost allocation that is inequitable. If any participating authority makes a special request for extra Temporary Branch Early Voting by Personal Appearance locations, that entity agrees to pay the entire cost for that request. Participating authorities having the majority of their voters in another county, and fewer than 500 registered voters in Denton County, and that do not have an election day polling place or early voting site within their Denton County territory shall pay a flat fee of $400 for election expenses. XII. WITHDRAWAL FROM CONTRACT DUE TO CANCELLATION OF ELECTION Any participating authority may withdraw from this agreement and the Joint Election should it cancel its election in accordance with Sections 2.051 - 2.053 of the Texas Election Code. The withdrawing authority is fully liable for any expenses incurred by the Denton County Elections Administrator on behalf of the authority plus an administrative fee of ten percent (10%) of such expenses. Any monies deposited with the Elections Administrator by the withdrawing authority shall be refunded, minus the aforementioned expenses and administrative fee, if applicable. It is agreed that any of the joint election early voting sites that are not within the boundaries of one or more of the remaining participating authorities, with the exception of the early voting site located at the Denton County Elections Building, may be dropped from the joint election unless one or more of the remaining participating authorities agreed to fully fund such site(s). In the event that any early voting site is eliminated under this section, an addendum to the contract shall be provided to the remaining participants within five days after notification of all intents to withdraw have been received by the Elections Administrator. XIII. RECORDS OF THE ELECTION The Elections Administrator is hereby appointed general custodian of the voted ballots and all records of the Joint Election as authorized by Section 271.010 of the Texas Election Code. Item 4c Page 7 of 10 Access to the election records shall be available to each participating authority as well as to the public in accordance with applicable provisions of the Texas Election Code and the Texas Public Information Act. The election records shall be stored at the offices of the Elections Administrator or at an alternate facility used for storage of county records. The Elections Administrator shall ensure that the records are maintained in an orderly manner so that the records are clearly identifiable and retrievable. Records of the election shall be retained and disposed of in accordance with the provisions of Section 66.058 of the Texas Election Code. If records of the election are involved in any pending election contest, investigation, litigation, or open records request, the Elections Administrator shall maintain the records until final resolution or until final judgment, whichever is applicable. It is the responsibility of each participating authority to bring to the attention of the Elections Administrator any notice of pending election contest, investigation, litigation or open records request which may be filed with the participating authority. XIV. RECOUNTS A recount may be obtained as provided by Title 13 of the Texas Election Code. By signing this document, the presiding officer of the contracting participating authority agrees that any recount shall take place at the offices of the Elections Administrator, and that the Elections Administrator shall serve as Recount Supervisor and the participating authority’s official or employee who performs the duties of a secretary under the Texas Election Code shall serve as Recount Coordinator. The Elections Administrator agrees to provide advisory services to each participating authority as necessary to conduct a proper recount. XV. MISCELLANEOUS PROVISIONS 1. It is understood that to the extent space is available, other districts and political subdivisions may wish to participate in the use of the County’s election equipment and voting places, and it is agreed that the Elections Administrator may contract with such other districts or political subdivisions for such purposes and that in such event there may be an adjustment of the pro-rata share to be paid to the County by the participating authorities. 2. The Elections Administrator shall file copies of this document with the Denton County Judge and the Denton County Auditor in accordance with Section 31.099 of the Texas Election Code. 3. Nothing in this contract prevents any party from taking appropriate legal action against any other party and/or other election personnel for a breach of this contract or a violation of the Texas Election Code. 4. This agreement shall be construed under and in accord with the laws of the State of Texas, and all obligations of the parties created hereunder are performable in Denton County, Texas. 5. In the event that one or more of the provisions contained in this Agreement shall for any reason be held to be invalid, illegal, or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provision hereof and this agreement shall be construed as if such invalid, illegal, or unenforceable provision had never been contained herein. 6. All parties shall comply with all applicable laws, ordinances, and codes of the State of Texas, all local governments, and any other entities with local jurisdiction. 7. The waiver by any party of a breach of any provision of this agreement shall not operate as or be construed as a waiver of any subsequent breach. Item 4c Page 8 of 10 8. Any amendments of this agreement shall be of no effect unless in writing and signed by all parties hereto. XVI. COST ESTIMATES AND DEPOSIT OF FUNDS The total estimated obligation for each participating authority under the terms of this agreement is listed below. The exact amount of each participating authority’s obligation under the terms of this agreement shall be calculated after the May 10, 2014 election (or runoff election, if applicable). The participating authority’s obligation shall be paid to Denton County within 30 days after the receipt of the final invoice from the Denton County Elections Administrator. The total estimated obligation for each participating authority under the terms of this agreement shall be provided within 45 days after the last deadline for ordering an election. Actual Political Subdivision Cost Item 4c Page 9 of 10 XVII. SIGNATURE PAGE (separate page) Revised 1.31.2014 (11:34 a.m.) Item 4c 2014 Town of Prosper General Election Calendar January 29 First day candidates may file an application for a place on the ballot. February 28 Last day candidates may file an application for a place on the ballot. (Must be received by 5:00 p.m.) March 3 Town Secretary conducts drawing for order of names on ballot at 8:15 a.m. in the Town Secretary’s Office. March 5 Last day for a candidate to withdraw application for a place on the ballot. (Must be received in writing by 5:00 p.m.) April 10 Last day to register to vote in the May 10, 2014, General Election. April 10 Due date for filing first report of campaign contributions and expenditures. (by 5:00 p.m.) April 28 First day to vote early by personal appearance. May 2 Due date for filing second report of campaign contributions and expenditures. (by 5:00 p.m.) May 6 Last day to vote early by personal appearance. May 10 ELECTION DAY May 13 - 21 Period for official canvass of election returns by Town Council. July 15 Last day for timely filing of final or semi-annual report of campaign contributions and expenditures. (by 5:00 p.m.) Item 4c Page 1 of 1 To: Mayor and Town Council From: Robyn Battle, Town Secretary Through: Harlan Jefferson, Town Manager Re: Town Council Meeting – February 25, 2014 Agenda Item: Consider and act upon appointing Mark DeMattia to the Board of Directors, and approving the appointment of Nathan P. Bontke, Scott Ramsey, Brett L. Pedigo, and David Blom for the remaining positions on the Board of Directors for the Prosper Management District No. 1. Description of Agenda Item: The Prosper Management District (PMD) No. 1 was created in 2009 by Forest City for the purpose of imposing taxes and issuing bonds to help facilitate the development of the commercial land along US 380 that is now owned by Terra Verde. The District’s Board of Directors was appointed according to the terms of the Creation Legislation, and the directors’ terms have since expired. The Town Council is authorized to appoint one member of the Board by majority vote, and the Town Council has the authority to approve or disapprove the recommendation submitted by the Board for the remaining four positions. The Board of Directors for the Prosper Municipal Management District No. 1 met on February 6, 2014, and approved the attached Resolution Requesting Appointment of Directors. Mark DeMattia was appointed to the Prosper Management District No. 1 in 2009. Mr. DeMattia continues to meet the qualifications required to serve on the Board of Directors and is interested in continuing his service on this Board. The District recommends that the Town Council approve the following individuals to serve in the remaining positions on PMD No. 1: Nathan P. Bontke, Scott Ramsey, Brett L. Pedigo, and David Blom Attached Documents: 1. PMD No. 1 Resolution Requesting Appointment of Directors Town Staff Recommendation: Town staff recommends the Town Council appoint Mark DeMattia to the Board of Directors, and approving the appointment of Nathan P. Bontke, Scott Ramsey, Brett L. Pedigo, and David Blom for the remaining positions on the Board of Directors for the Prosper Management District No. 1. Proposed Motion: I make a motion to appoint Mark DeMattia to the Board of Directors, and approving the appointment of Nathan P. Bontke, Scott Ramsey, Brett L. Pedigo, and David Blom for the remaining positions on the Board of Directors for the Prosper Management District No. 1. Prosper is a place where everyone matters. ADMINISTRATION Item 4d Item 4d Item 4d Item 4d Item 4d Item 4d Item 4d Item 4d Item 4d Item 4d Item 4d Item 4d Item 4d Item 4d Item 4d Item 4d Item 4d Item 4d Item 4d Item 4d Item 4d Item 4d Item 4d Item 4d Item 4d Item 4d Item 4d Item 4d Item 4d Item 4d Item 4d Page 1 of 2 To: Mayor and Town Council From: January Cook, CPPO, CPPB, Purchasing Agent Through: Harlan Jefferson, Town Manager Re: Town Council Meeting – February 25, 2014 Agenda Item: Consider approval of the purchase of one brush truck for the Fire Department, from Chastang Ford, through the Houston-Galveston Area Council (HGAC) Cooperative Purchasing Program; and authorize pre-payment options. Description of Agenda Item: This unit will be assigned to Fire Station No. 2, upon completion of construction. This unit was scheduled to be purchased later in the year. However, due to increasing demands, and the condition of the current brush truck, the Fire Department has requested that the Town purchase this unit now. Local governments are authorized by the Interlocal Cooperation Act, V.T.C.A. Government Code, Chapter 791, to enter into joint contracts and agreements for the performance of governmental functions and services, including administrative functions normally associated with the operation of government (such as purchasing necessary materials and equipment). The Town of Prosper and HGAC entered into an interlocal agreement, effective January 4, 2001, which allows our local government to purchase certain goods or services through HGAC. The agreement renews automatically each fiscal year, unless cancelled by either party. Budget Impact: The total amount of this purchase is $140,500, which includes a $1,500 HGAC administrative processing fee per purchase order. However, the Town can save $500 if the chassis is paid for upon arrival; and save an additional $1,500 if 50% of the body price is paid for within 30 days of issuing the purchase order. Therefore, the total amount of the purchase would be $138,500, if the Town takes advantage of the pre-payment options. At the end of FY 2013, money was set-aside in the General Fund to accommodate one-time costs associated with Fire Station No. 2. The expenditure for the brush truck was included. Attached Documents: 1. HGAC Quote Prosper is a place where everyone matters. FINANCE Item 4e Page 2 of 2 Town Staff Recommendation: Town staff recommends approval of the purchase of one brush truck for the Fire Department, from Sam Chastang Ford, through the Houston-Galveston Area Council (HGAC) Cooperative Purchasing Program; and authorizing pre-payment options. Proposed Motion: I move to approve the purchase of one brush truck for the Fire Department, from Chastang Ford, through the Houston-Galveston Area Council (HGAC) Cooperative Purchasing Program; and authorize pre-payment options. Item 4e Contract No.:FS 12-13 Date Prepared:1/30/2014 Buying Agency:Contractor: Contact Person: Prepared By: Phone:Phone: Fax:Fax: Email:Email: Product Code:FFB06 Description: 96812 Cost Cost 2478 2495 1095 522 1706 4330 10715 428 TFT Tornado Front Bumper Nozzle 7531 Extended cab S/S Nerf Bars Class One HPX200-KBD24 pump 2.5" TFT gated suction 64D - POLISHED ALUM WHEELS PROSPER, TX CHASTANG FORD B. Published Options - Itemize below - Attach additional sheet if necessary - Include Option Code in description if applicable (Note: Published Options are options which were submitted and priced in Contractor's bid.) Description Description X5H - SUPERCAB UPGRADE 663A - XLT UPGRADE Full Bumper Replacement with Nozzle Platform 10 Gallon Foams Cell with Class A Foam Ssytem CONTRACT PRICING WORKSHEET For Standard Equipment Purchases FFB06 - WEIS QUICK ATTACK 400 A. Product Item Base Unit Price Per Contractor's H-GAC Contract: 713-678-5001 This Worksheet is prepared by Contractor and given to End User. If a PO is issued, both documents MUST be faxed to H-GAC @ 713-993-4548. Therefore please type or print legibly. ED MILLER 309-792-9530 EMILLER@CHASTANGFORD.COM TFT Tornado Front Bumper Nozzle 7531 Two (2) Dunnage Compts with Aluminum Covers 2100 Two (2) Underbody tool boxes 1208 Rear reciever hitch 239 Two(2) FRC 12V150W lights on poles 2865 In Cab Pump Start/Stop/Throttle Controls and Gauge 1200 FRC Vision LED Tank Level Indicator on Pump Panel 506 241 Subtotal B: 39659 Cost Cost 40 125 895 250 350 869 Subtotal C: 2529 2% D. Total Cost before any other applicable Charges, Trade-Ins, Allowances, Discounts, Etc. (A+B+C) 1 139000 = Subtotal D: 139000 Cost Cost 1500 41H - BLOCK HEATER 433- SLIDING REAR WINDOW 213 - ELEC SHIFT ON FLY [REQ W/ CAPT] 2S - CAPTAINS CHAIRS WITH CONSOLE Description For this transaction the percentage is: Subtotal From Additional Sheet(s): FRC Mini Vision LED Tank Level In Cab Description Description 512 - SPARE TIRE/WHEEL Description C. Unpublished Options - Itemize below - Attach additional sheet if necessary (Note: Unpublished options are items which were not submitted and priced in Contractor's bid.) WEIS - WEIS ADDITIONAL OPTIONS Subtotal From Additional Sheet(s): Quantity Ordered: Rear Directional traffic light Check: Total cost of Unpublished Options (C) cannot exceed 25% of the total of the Base Unit Price plus Published Options (A+B). X Subtotal of A + B + C: E. Trade-Ins / Special Discounts / Other Allowances / Freight / Installation / Miscellaneous Charges HGAC FEE Subtotal E: 1500 140500F. Total Purchase Price (D+E): Delivery Date: Attachment 1 Prosper is a place where everyone matters. MONTHLY FINANCIAL REPORT JANUARY 2014 Prepared by Finance Department February 25, 2014 Item 4f TOWN OF PROSPER, TEXAS MONTHLY FINANCIAL REPORT JANUARY 2014 Contents Dashboard Charts 1 General Fund 3 Water/Sewer Fund 4 Interest & Sinking Fund 5 Internal Service Fund 6 Storm Drainage Fund 7 Parks Dedication & Improvement Fund 8 Impact Fees Fund 9 Special Revenue Fund 10 Employee Health Trust Fund 11 Capital Projects Fund‐‐General 12 Capital Projects Fund‐‐Water/Sewer 13 Detail‐‐All Funds 14 Legend "Compare to" refers to percentage of fiscal year completed‐‐e.g. 33.33% = 4/12, or January. Parentheses around a number indicate credit amount or gain‐‐e.g., Sales Taxes (849,123). Red, yellow, and green traffic lights indicate status of number compared to percentage of fiscal year completed‐‐e.g., Sales Taxes 31.08 Item 4f $‐ $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 Oct Nov Dec Jan Feb Mar Apr May June July Aug Sept Town of Prosper, Texas Sales Tax Revenue by Month FY 11/12 FY 12/13 FY 13/14 Building Permit Revenues $‐$200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $1,400,000 $1,600,000 $1,800,000 Total budget % of year YTD Actual 1 of 39 Item 4f $‐$2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 $12,000,000 $14,000,000 Total budget % of year YTD Actual General Fund Expenditures Water/Sewer Fund Expenditures $‐$1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 $7,000,000 $8,000,000 $9,000,000 $10,000,000 Total budget % of year YTD Actual /p 2 of 39 Item 4f TOWN OF PROSPER, TEXAS MONTHLY FINANCIAL REPORT JANUARY 2014 COMPARE TO:33.33% Currrent Current Current Year YTD Month Percent YTD Amended Budget Actual Actual % GENERAL FUND Property Taxes ‐Current (5,176,475) (4,274,306) (1,223,047) 82.57 Sales Taxes (2,732,400) (849,123) (184,440) 31.08 Franchise Fees (473,000) (65,544) (36,641) 13.86 Building Permits (1,554,300) (585,553) (146,252) 37.67 Fines (215,000) (68,569) (15,173) 31.89 Other (1,610,142) (691,807) (231,849) 42.97 Total Revenues (11,761,317) (6,534,901) (1,837,402) 55.56 [1] 10 Administration 1,844,468 662,052 177,054 35.89 20 Police 1,834,258 546,032 210,667 29.77 [2] 25 Dispatch Department 644,690 209,932 31,590 32.56 30 Fire/EMS 2,566,238 727,217 178,197 28.34 35 Fire Marshall 123,595 35,956 9,552 29.09 40 Streets 1,367,305 105,440 25,540 7.71 45 Public Library 115,336 25,501 8,499 22.11 60 Parks and Recreation 1,778,550 371,972 90,248 20.91 70 Municipal Court 237,728 51,296 14,105 21.58 80 Inspections 796,782 178,940 42,406 22.46 85 Code Enforcement 164,151 25,620 5,678 15.61 90 Planning 495,505 116,558 47,690 23.52 98 Engineering 487,149 119,797 34,849 24.59 Total Expenses 12,455,755 3,176,313 876,075 25.50 (Gain)/Loss 694,438 (3,358,588) (961,327) NOTES: [1] Administration expenses FYTD include $15,925 audit fees, $19,154 Appraisal (District) fees, $10,000 Contracted Services for Ion Wave electronic purchasing subscription, $12,584 in Ch. 380 Program Grant Expense catch‐up payments to Precision Landscape and Denton County Fresh Water Supply District No. 10, and approximately $30,000 for costs associated with the opening of the Town Hall Annex. [2]Dispatch Department expenses include Contracted Services expenses of $33,000 to Integrated Computer Systems for annual computer aided dispatch fee and $28,000 to DFW Communications for annual radio service agreement. 3 of 39 Item 4f TOWN OF PROSPER, TEXAS MONTHLY FINANCIAL REPORT JANUARY 2014 COMPARE TO:33.33% Currrent Current Current Year YTD Month Percent YTD Amended Budget Actual Actual % WATER‐SEWER FUND Water revenues (5,671,600) (1,496,826) (283,164) 26.39 Sewer revenues (2,397,850) (907,480) (225,864) 37.85 Sanitation revenues (906,000) (339,285) (85,366) 37.45 Total Revenues (8,975,450) (2,743,591) (594,394) 30.57 50 Water 6,436,590 1,223,540 269,174 19.01 55 Sewer 1,868,706 610,525 126,195 32.67 57 Utility Billing 972,042 275,119 86,178 28.30 Total Expenses 9,277,338 2,109,184 481,548 22.73 (Gain)/Loss 301,888 (634,407) (112,846) 4 of 39 Item 4f TOWN OF PROSPER, TEXAS MONTHLY FINANCIAL REPORT JANUARY 2014 COMPARE TO:33.33% Currrent Current Current Year YTD Month Percent YTD Amended Budget Actual Actual % INTEREST & SINKING FUND Property Taxes ‐Delinquent (30,000) (30,151) (15,162) 100.50 Property Taxes ‐Current (2,763,240) (2,539,613) (726,683) 91.91 Taxes ‐Penalties (18,000) (6,338) (2,697) 35.21 Interest Income (12,000) (2,894) (1,959) 24.11 Total Revenues (2,823,240) (2,578,996) (746,502) 91.35 2013 GO Ref Bond 282,672 ‐ 2010 Tax Note Payment 365,166 ‐ 2011 Ref Bond Pmt 177,791 ‐ 2012 GO Bond Payment 112,413 ‐ 2004 CO Bond Payment 329,992 ‐ 2006 Bond Payment 455,033 ‐ 2008 CO Bond Payment 1,078,313 ‐ {1} Bond Administrative Fees 20,000 (36,978) ‐ (184.89) Total Expenses 2,821,380 (36,978) ‐ (1.31) (Gain)/Loss (1,860) (2,615,974) (746,502) NOTES: [1] Bond Administrative Fees includes $37,977 refund for excess cost of issuance for the Series 2013 refunding bonds and Certificates of Obligation. 5 of 39 Item 4f TOWN OF PROSPER, TEXAS MONTHLY FINANCIAL REPORT JANUARY 2014 COMPARE TO:33.33% Currrent Current Current Year YTD Month Percent YTD Amended Budget Actual Actual % INTERNAL SERVICE FUND‐‐MEDICAL EXPENSE REIMBURSEMENT PROGRAM Charges for Services (30,000) ‐ Interest Income (500) (218) (54) 43.59 Transfer In (19,160) ‐ Total Revenue (49,660) (218) (54) 0.44 MERP H & D Expense ‐ GF 49,000 9,073 5,023 18.52 Total Expenses 49,000 9,073 5,023 18.52 (Gain)/Loss (660) 8,855 4,968 6 of 39 Item 4f TOWN OF PROSPER, TEXAS MONTHLY FINANCIAL REPORT JANUARY 2014 COMPARE TO:33.33% Currrent Current Current Year YTD Month Percent YTD Amended Budget Actual Actual % STORM DRAINAGE UTILITY FUND Storm Drainage Utility Fee (228,800) (80,074) (20,124) 35.00 Interest Storm Utility (1,600) (554) (136) 34.61 Total Revenue (230,400) (80,628) (20,260) 34.99 Personnel Expenses 42,649 13,556 3,041 31.78 Program Expenses 351,351 20,225 1,227 5.76 Total Expenses 394,000 33,781 4,268 8.57 (Gain)/Loss 163,600 (46,847) (15,992) 7 of 39 Item 4f TOWN OF PROSPER, TEXAS MONTHLY FINANCIAL REPORT JANUARY 2014 COMPARE TO:33.33% Currrent Current Current Year YTD Month Percent YTD Amended Budget Actual Actual % PARK DEDICATION AND IMPROVEMENT FUND Park Dedication‐Fees (100,000) ‐ Park Improvement (200,000) (100,000) (100,000) 50.00 Contributions ‐ (17,500) (7,500) ‐ Interest‐Park Dedication (1,200) (651) (173) 54.21 Interest‐Park Improvements (350) (249) (60) 71.27 Total Revenue (301,550) (118,400) (107,732) 39.26 [1] Miscellaneous Expense 42,459 42,429 ‐ Professional Services‐Pk Ded 12,094 6,661 ‐ Professional Services‐Pk Imp 20,000 ‐ Capital Exp‐Pk Improvements 30,000 8,500 8,500 28.33 Capital Exp‐Pk Dedication 650,000 ‐ Total Expenses 700,000 63,053 57,590 9.01 (Gain)/Loss 398,450 (55,347) (50,142) [1] Miscellaneous expense includes $42,419 is for reimbursement of a portion of improvement fees received in the prior year from Prosper Lakes North LLC. 8 of 39 Item 4f TOWN OF PROSPER, TEXAS MONTHLY FINANCIAL REPORT JANUARY 2014 COMPARE TO:33.33% Currrent Current Current Year YTD Month Percent YTD Amended Budget Actual Actual % IMPACT FEES FUND [1] Impact Fees ‐Water (800,000) (441,268) (148,128) 55.16 Impact Fees ‐Sewer (700,000) (142,525) (40,606) 20.36 Thoroughfare Impact Fees (1,100,000) (386,152) (116,462) 35.10 West Thorfare Imp. Fees Rev (86,404) (14,908) ‐ Interest‐Water Impact Fee (4,000) (1,416) (409) 35.41 Interest‐Sewer Impact Fee (4,000) (645) (191) 16.13 Interest‐Thorfare Imp Fee (12,000) (1,271) (400) 10.59 Interest‐West Thorfare imp fee (483) (143) ‐ Total Revenue (2,620,000) (1,060,164) (321,247) 40.46 [2] Professional Serv‐Water Imp Fee 1,220,000 53,699 11,281 4.40 Professional Serv‐Sewer Imp Fee 255,000 ‐ Professional Serv‐Thorfare Imp Fee 60,000 ‐ [3] Capital Expenditure‐Water 422,397 189,652 ‐ Transfer to Capital Proj Fund 300,000 ‐ Total Expenses 1,835,000 476,096 200,933 25.95 (Gain)/Loss (785,000) (584,068) (120,314) NOTES: [1] Impact Fees‐Water ‐ prior month reports included $200,000 received 10/29/2013 for RaceTrac agreement. Per discussion with the Town's auditors, this has been reversed and recorded as FY2013 revenue. [2] Professional Services‐‐Water Impact Fees include payments to Freese & Nichols for Upper Plan Water Line Design and Spiars Engineering for RaceTrac water line design. [3] Capital Expenditure‐Water includes $410,760 payment to Dickerson Construction for RaceTrac offsite water line. 9 of 39 Item 4f TOWN OF PROSPER, TEXAS MONTHLY FINANCIAL REPORT JANUARY 2014 COMPARE TO:33.33% Currrent Current Current Year YTD Month Percent YTD Amended Budget Actual Actual % SPECIAL REVENUE FUND Police Donation Inc (16,000) (8,160) (1,877) 51.00 Fire Dept‐Donation Inc (12,000) (4,292) (892) 35.77 Safety Fair Donations (2,000) ‐ ‐ ‐ Child Safety Inc (9,000) (5,863) (2,332) 65.15 Court Security Revenue (2,900) (1,450) (274) 50.01 Technology Fd Revenue (4,000) (1,936) (365) 48.40 Interest Income (1,606) (314) ‐ Country Xmas Donations (10,000) (17,951) (350) 179.51 Tree Mitigation Revenue (14,175) ‐ ‐ Escrow Income (60,187) (60,187) ‐ Cash Seizure Forfeit‐PD (500) (3,250) (1,000) 650.00 Total Revenue (56,400) (118,871) (67,591) 210.76 Country Xmas Expense 10,000 10,001 10,001 100.01 Court Technology Expense 12,200 3,571 ‐ 29.27 Court Security Expense 2,500 272 68 10.88 Police Donation Exp 8,000 4,000 ‐ 50.00 Fire Dept Donation Exp 8,000 2,375 1,176 29.69 Health & Safety Fair Exp 1,500 ‐ ‐ ‐ Child Safety Expense 1,000 ‐ ‐ ‐ [1] Escrow Expense 15,500 182,024 ‐ 1,174.35 Volunteer Per Diem Expense 260 95 ‐ Special Operations 500 ‐ ‐ ‐ PD Seizure Expense 200 200 ‐ Total Expenses 59,200 202,704 11,540 342.41 (Gain)/Loss 2,800 83,834 (56,051) NOTES: [1] Escrow Expense includes $182,024 payment to KCK Utilities for West Side Sewer Line. 10 of 39 Item 4f TOWN OF PROSPER, TEXAS MONTHLY FINANCIAL REPORT JANUARY 2014 COMPARE TO:33.33% Currrent Current Current Year YTD Month Percent YTD Amended Budget Actual Actual % EMPLOYEE HEALTH TRUST FUND N/A N/A N/A Total Revenue N/A ‐ ‐ N/A Health Insurance ‐ 21 ‐ N/A Total Expenses ‐ 21 ‐ N/A Revenues (over)/under expenses N/A 21 ‐ NOTE: The Employee Health Trust Fund accounts for the Town's Flexible Spending Account (FSA) program, which is funded by employee payroll deductions held in liability accounts. There are no revenues, and the only expenses are administrative. 11 of 39 Item 4f TOWN OF PROSPER, TEXAS MONTHLY FINANCIAL REPORT JANUARY 2014 COMPARE TO:33.33% Currrent Current Current Year YTD Month Percent YTD Amended Budget Actual Actual % CAPITAL PROJECTS‐‐GENERAL GOVERNMENTAL [1] Contributions (105,000) (50,000) ‐ Interest‐2004 Bond (1,000) (682) (170) 68.16 Interest‐2006 Bond (1,000) (106) (22) 10.58 Interest 2008 Bond (1,000) (6,074) (1,147) 607.38 Interest‐2011 Refd Bond (70) ‐ ‐ ‐ Interest 2012 GO Bond (5,000) (3,847) (906) 76.94 Bond Proceeds (1,965,000) ‐ ‐ ‐ Total Revenues (1,973,070) (115,708) (52,245) 5.86 Salaries & Wages 92,820 26,843 6,794 28.92 Salaries ‐ Longevity 459 ‐ ‐ ‐ Salary ‐ Incentive 300 ‐ ‐ ‐ Social Security Expense 5,802 1,614 405 27.82 Medicare Expense 1,357 378 95 27.82 SUTA Expense 93 (245) 7 (263.66) Health Insurance 5,400 1,418 567 26.27 Dental Insurance 360 72 24 20.12 Life Insurance/AD&D 114 27 8 23.85 Liability (TML) Workers' Comp 118 146 ‐ 123.45 TMRS Expense 9,826 2,835 730 28.85 Long Term/Short Term Disabilit 173 ‐ ‐ ‐ WELLE‐Wellness Prog Reimb‐Empl 420 ‐ ‐ ‐ Professional Serv‐2006 Bond 13,178 6,589 ‐ Professional Services 9,000 9,000 ‐ Telephone Expense 219 219 ‐ Cell Phone Expense ‐ (113) ‐ Mileage Expense 1,657 ‐ ‐ Capital Expenditures‐2006 Bond 3,411 ‐ ‐ [2] Capital Expenditure 2008 Bond 1,419,872 439,379 ‐ Capital Expenditure ‐ WS Prjts 1,100 ‐ ‐ Construction 4,662,758 ‐ ‐ ‐ Total Expenses 4,780,000 1,481,526 463,703 30.99 (Gain)/Loss 2,806,930 1,365,818 411,458 NOTES: [1] Contributions revenue account includes $55,000 from agreement with Prosper EDC and $50,000 from Preston Development, Ltd for First/Coit widening. [2]2008 bond project expense includes $1,318,968 payment to Tiseo Paving for First and Coit project. 12 of 39 Item 4f TOWN OF PROSPER, TEXAS MONTHLY FINANCIAL REPORT JANUARY 2014 COMPARE TO:33.33% Currrent Current Current Year YTD Month Percent YTD Amended Budget Actual Actual % CAPITAL PROJECTS‐‐WATER/SEWER Interest Income (50,000) (12,833) (3,023) 25.67 Bond Proceeds (1,000,000) ‐ ‐ ‐ Total Revenue (1,050,000) (12,833) (3,023) 1.22 Construction 1,000,000 ‐ ‐ ‐ [1] Construction 1202‐WA 72,000 ‐ ‐ Construction 1203‐SW 2,410 ‐ ‐ Construction 1203‐WA 3,932 ‐ ‐ Total Expenses 1,000,000 78,341 ‐ 7.83 (Gain)/Loss (50,000) 65,509 (3,023) NOTES: [1] 2012 bond construction expense includes $72,000 payment to Cardinal Contractors for Custer Road pump station improvement project. 13 of 39 Item 4f TOWN OF PROSPER, TEXASMONTHLY FINANCIAL REPORT‐‐ALL FUNDSJANUARY 2014 Account Number Description Current Current Currrent Current Current Percent YTD Year Year Year YTD Month % Adopted Budget Amendments Amended Budget Actual Actual 10‐4035‐10‐00 3% Construction Fee (75,000.00) (75,000.00) (54,872.57) (43,206.49) 73.16 10‐4060‐10‐00 NSF Fees (50.00) (50.00) 0.00 10‐4061‐10‐00 Notary Fees (150.00) (150.00) (89.00) (29.00) 59.33 10‐4105‐10‐00 Property Taxes ‐Delinquent (45,000.00) (45,000.00) (47,265.21) (23,567.58) 105.03 10‐4110‐10‐00 Property Taxes ‐Current (5,176,475.00) (5,176,475.00)(4,274,305.59)(1,223,046.57)82.57 10‐4115‐10‐00 Taxes ‐Penalties (20,000.00) (20,000.00) (10,860.62) (4,411.98) 54.30 10‐4120‐10‐00 Sales Taxes (2,732,400.00) (2,732,400.00)(849,122.83) (184,439.75) 31.08 10‐4130‐10‐00 Sales Tax‐Mixed Beverage (4,500.00) (4,500.00) (2,332.92) (2,332.92) 51.84 10‐4140‐10‐00 Franchise Taxes ‐ Electric (270,000.00) (270,000.00) (31,599.56) (31,599.56) 11.70 10‐4150‐10‐00 Franchise Taxes ‐ Telephone (100,000.00) (100,000.00) (23,465.32) (78.57) 23.47 10‐4160‐10‐00 Franchise Taxes ‐ Gas (80,000.00) (80,000.00) 0.00 10‐4170‐10‐00 Franchise Taxes ‐ Road Usage (3,500.00) (3,500.00) (566.76) 16.19 10‐4190‐10‐00 Franchise Fee‐Cable (19,500.00) (19,500.00) (9,912.72) (4,963.20) 50.83 10‐4200‐10‐00 T‐Mobile Fees (20,700.00) (20,700.00) (6,900.00) (1,725.00) 33.33 10‐4201‐10‐00 Tierone Converged Network (30,000.00) (30,000.00) (6,000.00) (1,500.00) 20.00 10‐4202‐10‐00 NTTA Tag Sales (150.00) (150.00) (30.00) (30.00) 20.00 10‐4205‐10‐00 Internet America (18,000.00) (18,000.00) (6,000.00) (1,500.00) 33.33 10‐4218‐10‐00 Administrative Fees‐EDC (2,400.00) (2,400.00)(800.00) (200.00)33.33 10‐4610‐10‐00 Interest Income (60,000.00) (60,000.00) (17,565.99) (4,272.95) 29.28 10‐4910‐10‐00 Other Revenue (20,000.00) (20,000.00) (9,123.68) 45.62 10‐4995‐10‐00 Transfer In (801,700.00) (801,700.00) (267,233.32) (66,808.33) 33.33 Subtotal object ‐ 0 (9,479,525.00) (9,479,525.00)(5,618,046.09)(1,593,711.90)59.27Program number: (9,479,525.00) (9,479,525.00)(5,618,046.09)(1,593,711.90)59.27Department number: 10 Administration (9,479,525.00) (9,479,525.00)(5,618,046.09)(1,593,711.90)59.27 10‐4230‐20‐00 Other Permits (175.00) (25.00)0.00 10‐4440‐20‐00 Accident Reports (1,500.00) (1,500.00) (219.00) (40.00) 14.60 10‐4450‐20‐00 Alarm Fee (39,000.00) (39,000.00) (13,212.00) (4,246.00) 33.88 10‐4910‐20‐00 Other Revenue (50.00) (50.00)0.00 Subtotal object ‐ 0 (40,500.00) (40,500.00) (13,656.00) (4,361.00) 33.72Program number: (40,500.00) (40,500.00) (13,656.00) (4,361.00) 33.72Department number: 20 Police (40,500.00) (40,500.00) (13,656.00) (4,361.00) 33.72 10‐4310‐30‐00 Charges for Services (177,000.00) (177,000.00)(44,840.47) (14,528.24)25.33 10‐4411‐30‐00 CC FIRE ASSOC (402.11) (402.11)0.00 10‐4510‐30‐00 Grants (3,772.00) 0.00 Subtotal object ‐ 0 (177,000.00) (177,000.00) (49,014.58) (14,930.35) 27.69Program number: (177,000.00) (177,000.00) (49,014.58) (14,930.35) 27.69Department number: 30 Fire/EMS (177,000.00) (177,000.00) (49,014.58) (14,930.35) 27.69 10‐4315‐35‐00 Fire Review/Inspect Fees (11,000.00) (11,000.00) (2,625.00) (1,025.00) 23.86 Subtotal object ‐ 0 (11,000.00) (11,000.00) (2,625.00) (1,025.00) 23.86Program number: (11,000.00) (11,000.00)(2,625.00) (1,025.00)23.86Department number: 35 Fire Marshall (11,000.00) (11,000.00) (2,625.00) (1,025.00) 23.86 10‐4910‐40‐00 Other Revenue (3,060.00) (3,060.00)0.0014 of 39Item 4f TOWN OF PROSPER, TEXASMONTHLY FINANCIAL REPORT‐‐ALL FUNDSJANUARY 2014 Account Number Description Current Current Currrent Current Current Percent YTD Year Year Year YTD Month % Adopted Budget Amendments Amended Budget Actual Actual Subtotal object ‐ 0 (3,060.00) (3,060.00)0.00Program number: (3,060.00) (3,060.00)0.00Department number: 40 Streets (3,060.00) (3,060.00)0.00 10‐4062‐45‐00 Over Due Fees (116.10) (116.10)0.00 10‐4063‐45‐00 Lost Fees (116.64) (116.64)0.00 10‐4064‐45‐00 Printing/Coping Fees (41.10) (41.10)0.00 10‐4510‐45‐00 Grants (18,087.00) (18,087.00) 0.00 10‐4910‐45‐00 Other Revenue (125.00) (125.00) (265.57) (15.57) 212.46 Subtotal object ‐ 0 (18,212.00) (18,212.00)(539.41) (289.41)2.96Program number: (18,212.00) (18,212.00) (539.41) (289.41)2.96Department number: 45 Public Library (18,212.00) (18,212.00) (539.41) (289.41)2.96 10‐4056‐60‐00 Field Rental Fees (17,000.00) (17,000.00) (3,614.14) (675.00) 21.26 10‐4057‐60‐00 Pavilion User Fees (1,400.00) (1,400.00) (445.00) (35.00) 31.79 10‐4910‐60‐00 Other Revenue (15,250.00) (15,250.00) 0.00 Subtotal object ‐ 0 (33,650.00) (33,650.00) (4,059.14) (710.00) 12.06Program number: (33,650.00) (33,650.00) (4,059.14) (710.00) 12.06Department number: 60 Parks and Recreation (33,650.00) (33,650.00)(4,059.14) (710.00)12.06 10‐4410‐70‐00 Fines (215,000.00) (215,000.00) (68,568.79) (15,172.85) 31.89 10‐4610‐70‐00 Interest Income (130.00) (130.00) (152.82) (48.06) 117.55 Subtotal object ‐ 0 (215,130.00) (215,130.00) (68,721.61) (15,220.91) 31.94Program number: (215,130.00) (215,130.00) (68,721.61) (15,220.91) 31.94Department number: 70 Municipal Court (215,130.00) (215,130.00) (68,721.61) (15,220.91) 31.94 10‐4011‐80‐00 Permit Application Fee (70,247.51) (27,698.00)0.00 10‐4013‐80‐00 Permit Expiration Fee (4,371.46)(600.00)0.00 10‐4017‐80‐00 Registration Fee (32,000.00) (32,000.00) (19,900.00) (13,000.00) 62.19 10‐4210‐80‐00 Building Permits (1,554,300.00) (1,554,300.00)(585,552.64) (146,252.26) 37.67 10‐4230‐80‐00 Other Permits (100,000.00) (100,000.00) (32,370.00) (8,415.00) 32.37 10‐4240‐80‐00 Plumb/Elect/Mech Permits (15,000.00) (15,000.00) (6,060.00) (1,320.00) 40.40 10‐4242‐80‐00 Re‐inspection Fees (15,000.00) (15,000.00) (7,255.00) (1,225.00) 48.37 10‐4910‐80‐00 Other Revenue (3,000.00) (3,000.00) (1,174.81) (574.81) 39.16 Subtotal object ‐ 0 (1,719,300.00) (1,719,300.00)(726,931.42) (199,085.07) 42.28Program number: (1,719,300.00) (1,719,300.00)(726,931.42) (199,085.07) 42.28Department number: 80 Inspections (1,719,300.00) (1,719,300.00)(726,931.42) (199,085.07) 42.28 10‐4245‐85‐00 Health Inspections (7,000.00) (7,000.00) (2,500.00) 35.71 10‐4910‐85‐00 Other Revenue (6,270.00) (1,803.00)0.00 Subtotal object ‐ 0 (7,000.00) (7,000.00) (8,770.00) (1,803.00) 125.29Program number: (7,000.00) (7,000.00) (8,770.00) (1,803.00) 125.29Department number: 85 Code Enforcement (7,000.00) (7,000.00) (8,770.00) (1,803.00) 125.29 10‐4220‐90‐00 Zoning Permits (10,000.00) (10,000.00) (28,887.48) (1,560.14) 288.88 10‐4225‐90‐00 Plat Fees (50,000.00) (50,000.00) (9,770.00) (1,545.00) 19.54 10‐4910‐90‐00 Other Revenue (820.36) (100.36)0.00 Subtotal object ‐ 0 (60,000.00) (60,000.00) (39,477.84) (3,205.50) 65.8015 of 39Item 4f TOWN OF PROSPER, TEXASMONTHLY FINANCIAL REPORT‐‐ALL FUNDSJANUARY 2014 Account Number Description Current Current Currrent Current Current Percent YTD Year Year Year YTD Month % Adopted Budget Amendments Amended Budget Actual Actual Program number: (60,000.00) (60,000.00) (39,477.84) (3,205.50) 65.80Department number: 90 Planning (60,000.00) (60,000.00) (39,477.84) (3,205.50) 65.80 Revenue Subtotal ‐ ‐ ‐ ‐ ‐ ‐ (11,761,317.00) (11,761,317.00)(6,534,901.09)(1,837,402.14)55.56 10‐5110‐10‐00 Salaries & Wages 766,763.00 766,763.00223,655.0257,558.05 29.17 10‐5115‐10‐00 Salaries ‐ Overtime 6,031.00 6,031.00302.43 5.02 10‐5126‐10‐00 Salaries‐Vacation Buy‐Out 3,076.92 0.00 10‐5140‐10‐00 Salaries ‐ Longevity Pay 1,338.00 1,338.00420.00 31.39 10‐5141‐10‐00 Salaries ‐ Incentive 24,343.00 24,343.001,000.00 4.11 10‐5142‐10‐00 Car Allowance 1,823.09 461.540.00 10‐5143‐10‐00 Cell Phone Allowance 630.00 630.000.00 10‐5145‐10‐00 Social Security Expense 49,505.00 49,505.0010,858.03 3,383.5821.93 10‐5150‐10‐00 Medicare Expense 11,578.00 11,578.003,162.97 791.30 27.32 10‐5155‐10‐00 SUTA Expense 798.00 798.00 (349.44) 52.63 (43.79) 10‐5160‐10‐00 Health Insurance 49,119.00 49,119.0013,423.81 3,933.4827.33 10‐5165‐10‐00 Dental Insurance 3,275.00 3,275.00644.54193.12 19.68 10‐5170‐10‐00 Life Insurance/AD&D 777.00 777.00 286.39 84.04 36.86 10‐5175‐10‐00 Liability (TML) Workers' Comp 1,010.00 1,010.002,655.53 262.92 10‐5176‐10‐00 TML Prop. & Liab. Insurance 100,000.00 100,000.0076,310.30 76.31 10‐5180‐10‐00 TMRS Expense 83,840.00 83,840.0024,363.59 6,265.6829.06 10‐5185‐10‐00 Long Term/Short Term Disabilit 1,072.00 1,072.00502.75 279.03 46.90 10‐5186‐10‐00 WELLE‐Wellness Prog Reimb Empl 3,780.00 3,780.00243.25 140.006.44 10‐5190‐10‐00 Contract Labor 35,000.00 35,000.002,415.00757.506.90 10‐5191‐10‐00 Hiring Cost 15,000.00 15,000.00430.06 2.87 10‐5193‐10‐00 Records Retention 1,000.00 1,000.00198.26 19.83 10‐5210‐10‐00 Office Supplies 5,000.00 5,000.002,663.93 1,095.3853.28 10‐5212‐10‐00 Building Supplies 1,500.00 1,500.001,456.04994.80 97.07 10‐5220‐10‐00 Office Equipment 7,859.79 7,859.790.00 10‐5230‐10‐00 Dues,Fees,& Subscriptions 10,000.00 10,000.003,888.23 530.00 38.88 10‐5240‐10‐00 Postage and Delivery 3,000.00 3,000.005.605.600.19 10‐5250‐10‐00 Publications 500.00 500.00 1,052.70337.50 210.54 10‐5260‐10‐00 Advertising 300.00 300.00 0.00 10‐5265‐10‐00 Promotional Expense 1,649.661,620.210.00 10‐5270‐10‐00 Bank Charges 200.00 200.00 60.00 30.00 30.00 10‐5280‐10‐00 Printing and Reproduction 2,000.00 2,000.001,016.79 50.84 10‐5290‐10‐00 Miscellaneous Expense 58.36 0.00 10‐5305‐10‐00 Chapt 380 Program Grant Exp 10,000.00 10,000.0012,583.66 125.84 10‐5310‐10‐00 Rental Expense 58,782.00 58,782.0024,689.1024,164.25 42.00 10‐5330‐10‐00 Copier Expense 27,000.00 27,000.009,274.57 4,144.57 34.35 10‐5340‐10‐00 Building Repairs 2,500.00 2,500.009,205.009,095.00368.20 10‐5410‐10‐00 Professional Services 45,000.00 45,000.0035,820.7715,930.0079.60 10‐5412‐10‐00 Audit Fees 40,000.00 40,000.0015,925.00 39.81 10‐5414‐10‐00 Appraisal / Tax Fees 53,000.00 53,000.0019,153.86 36.1416 of 39Item 4f TOWN OF PROSPER, TEXASMONTHLY FINANCIAL REPORT‐‐ALL FUNDSJANUARY 2014 Account Number Description Current Current Currrent Current Current Percent YTD Year Year Year YTD Month % Adopted Budget Amendments Amended Budget Actual Actual 10‐5418‐10‐00 IT Fees 135,000.00 135,000.0042,084.4713,197.82 31.17 10‐5419‐10‐00 IT Licenses 10,000.00 10,000.0010,345.00 103.45 10‐5430‐10‐00 Legal Fees 40,000.00 40,000.0016,876.775,359.4442.19 10‐5435‐10‐00 Legal Notices/Filings 8,500.00 8,500.001,044.00 12.28 10‐5460‐10‐00 Election Expense 15,000.00 15,000.00248.50 62.201.66 10‐5480‐10‐00 Contracted Services 18,000.00 18,000.0025,125.93 7,581.80139.59 10‐5520‐10‐00 Telephones 18,000.006,000.0024,000.0021,916.965,193.01 91.32 10‐5521‐10‐00 Cell Phone Expense 6,000.00(6,000.00) (622.13) 0.00 10‐5524‐10‐00 Gas‐Building 500.00 500.00 186.18 68.10 37.24 10‐5525‐10‐00 Electricity 10,000.00 10,000.002,123.79 827.1421.24 10‐5526‐10‐00 Data Network 15,000.00 15,000.0010,548.841,683.7670.33 10‐5530‐10‐00 Travel/Lodging/Meals Expense 8,000.00 8,000.002,830.5858.25 35.38 10‐5532‐10‐00 Entertainment 750.00 750.00 0.00 10‐5533‐10‐00 Mileage Expense 5,000.00 5,000.00437.00 122.888.74 10‐5536‐10‐00 Training/Seminars 40,000.00 40,000.005,865.00180.00 14.66 10‐5538‐10‐00 Council/Public Official Expens 20,000.00 20,000.006,127.57 346.07 30.64 10‐5600‐10‐00 Special Events 38,000.00 38,000.003,875.93 2,658.61 10.20 10‐7000‐10‐00 Contingency 26,707.00 26,707.00 0.00 10‐7143‐10‐00 Transfer to Internal Serv. Fd 17,000.00 17,000.00 0.00 Subtotal object ‐ 0 1,844,468.00 1,844,468.00662,052.08177,054.0035.89Program number: 1,844,468.00 1,844,468.00662,052.08177,054.0035.89Department number: 10 Administration 1,844,468.00 1,844,468.00662,052.08177,054.0035.89 10‐5110‐20‐00 Salaries & Wages 966,557.00 966,557.00326,552.62135,135.53 33.79 10‐5115‐20‐00 Salaries ‐ Overtime 35,000.00 35,000.0014,278.03 3,945.53 40.79 10‐5126‐20‐00 Salaries‐Vacation Buy‐Out 3,137.54 0.00 10‐5127‐20‐00 Salaries‐Certification Pay 11,800.00 11,800.003,893.56925.39 33.00 10‐5140‐20‐00 Salaries ‐ Longevity Pay 5,690.00 5,690.004,555.00 80.05 10‐5141‐20‐00 Salaries ‐ Incentive 650.00 0.00 10‐5145‐20‐00 Social Security Expense 63,026.00 63,026.0021,394.368,469.91 33.95 10‐5150‐20‐00 Medicare Expense 14,740.00 14,740.005,003.51 1,980.87 33.95 10‐5155‐20‐00 SUTA Expense 1,017.00 1,017.00(2,925.72) 80.28 ####### 10‐5160‐20‐00 Health Insurance 86,971.00 86,971.0016,422.704,130.1018.88 10‐5165‐20‐00 Dental Insurance 5,798.00 5,798.001,165.96337.96 20.11 10‐5170‐20‐00 Life Insurance/AD&D 798.00 798.00 1,231.08347.51 154.27 10‐5175‐20‐00 Liability (TML) Workers' Comp 1,286.00 1,286.0022,272.23 ####### 10‐5180‐20‐00 TMRS Expense 106,737.00 106,737.0037,136.91 14,526.29 34.79 10‐5185‐20‐00 Long Term/Short Term Disabilit 933.00 933.00 674.12 337.06 72.25 10‐5186‐20‐00 WELLE‐Wellness Prog Reimb Empl 6,720.00 6,720.00586.25 157.508.72 10‐5190‐20‐00 Contract Labor 6,000.00 6,000.001,710.00470.00 28.50 10‐5191‐20‐00 Hiring Cost 900.00 900.00 0.00 10‐5192‐20‐00 Physical & Psychological 825.00 825.00 0.00 10‐5210‐20‐00 Office Supplies 10,500.00 10,500.001,132.36538.30 10.7817 of 39Item 4f TOWN OF PROSPER, TEXASMONTHLY FINANCIAL REPORT‐‐ALL FUNDSJANUARY 2014 Account Number Description Current Current Currrent Current Current Percent YTD Year Year Year YTD Month % Adopted Budget Amendments Amended Budget Actual Actual 10‐5212‐20‐00 Building Supplies 2,500.00 2,500.00 0.00 10‐5214‐20‐00 Tactical Supplies 37,190.00 37,190.00200.00 0.54 10‐5215‐20‐00 Ammunition 6,000.00 6,000.00807.70 13.46 10‐5220‐20‐00 Office Equipment 1,400.00 1,400.001,502.25 1,502.25 107.30 10‐5230‐20‐00 Dues,Fees,& Subscriptions 7,000.00 7,000.002,037.72 675.88 29.11 10‐5240‐20‐00 Postage and Delivery 750.00 750.00 22.40 11.202.99 10‐5250‐20‐00 Publications 500.00 500.00 0.00 10‐5260‐20‐00 Advertising 250.00 250.00 0.00 10‐5265‐20‐00 Promotional Expense 2,250.00 2,250.00266.49 11.84 10‐5280‐20‐00 Printing and Reproduction 500.00 500.00 197.01 128.50 39.40 10‐5310‐20‐00 Rental Expense 3,000.00 3,000.001,239.60309.90 41.32 10‐5320‐20‐00 Repairs & Maintenance 750.00 750.00 0.00 10‐5330‐20‐00 Copier Expense 445.38 0.00 10‐5335‐20‐00 Radio/Video Repairs 2,000.00 2,000.00 0.00 10‐5340‐20‐00 Building Repairs 1,000.00 1,000.00215.00 21.50 10‐5350‐20‐00 Vehicle Expense 60,000.00 60,000.008,913.661,253.1414.86 10‐5352‐20‐00 Fuel 80,000.00 80,000.009,023.91 3,572.3411.28 10‐5353‐20‐00 Oil/Grease/Inspections 2,150.00 2,150.0021.99 1.02 10‐5400‐20‐00 Uniform Expense 16,500.00 16,500.002,643.29 864.5416.02 10‐5410‐20‐00 Professional Services 760.00 760.00 500.00 500.00 65.79 10‐5415‐20‐00 Tuition Reimbursement 12,000.00 12,000.001,850.00 15.42 10‐5418‐20‐00 IT Fees 3,950.00 3,950.00 0.00 10‐5419‐20‐00 IT Licenses 3,000.00 3,000.002,163.302,163.3072.11 10‐5430‐20‐00 Legal Fees 10,000.00 10,000.001,135.47 574.50 11.36 10‐5480‐20‐00 Contracted Services 20,000.00(9,040.00) 10,960.005,022.07 51.48 45.82 10‐5520‐20‐00 Telephones 8,000.005,000.0013,000.004,697.31 2,249.3436.13 10‐5521‐20‐00 Cell Phone Expense 5,000.00(5,000.00) (701.85) 0.00 10‐5525‐20‐00 Electricity 10,000.00 10,000.003,536.93 1,092.3035.37 10‐5526‐20‐00 Data Network 13,760.00 13,760.002,213.55 579.98 16.09 10‐5530‐20‐00 Travel/Lodging/Meals Expense 5,000.00 5,000.002,942.62 58.85 10‐5533‐20‐00 Mileage Expense 2,500.00 2,500.00456.52 456.52 18.26 10‐5536‐20‐00 Training/Seminars 26,500.00 26,500.005,253.002,278.0019.82 10‐5600‐20‐00 Special Events 10,500.00 10,500.00148.00 28.041.41 10‐5630‐20‐00 Safety Equipment 18,750.0021,980.0040,730.0021,695.8721,695.8753.27 10‐5640‐20‐00 Signs & Hardware 500.00 500.00 0.00 10‐6160‐20‐00 Capital Expenditure ‐ Vehicles 135,000.00(12,940.00) 122,060.008,010.00 6.56 Subtotal object ‐ 0 1,834,258.00 1,834,258.00546,031.55 210,667.4629.77Program number: 1,834,258.00 1,834,258.00546,031.55 210,667.4629.77Department number: 20 Police 1,834,258.00 1,834,258.00546,031.55 210,667.4629.77 10‐5110‐25‐00 Salaries & Wages 312,860.00 312,860.0079,933.5721,234.4025.55 10‐5115‐25‐00 Salaries ‐ Overtime 15,000.00 15,000.004,571.17 654.93 30.47 10‐5127‐25‐00 Salaries‐Certification Pay 7,000.00 7,000.001,877.52 433.8426.8218 of 39Item 4f TOWN OF PROSPER, TEXASMONTHLY FINANCIAL REPORT‐‐ALL FUNDSJANUARY 2014 Account Number Description Current Current Currrent Current Current Percent YTD Year Year Year YTD Month % Adopted Budget Amendments Amended Budget Actual Actual 10‐5140‐25‐00 Salaries ‐ Longevity Pay 1,507.00 1,507.00635.00 42.14 10‐5145‐25‐00 Social Security Expense 20,855.00 20,855.005,062.77 1,288.53 24.28 10‐5150‐25‐00 Medicare Expense 4,877.00 4,877.001,184.03 301.3424.28 10‐5155‐25‐00 SUTA Expense 336.00 336.00 (956.75) 22.43 ####### 10‐5160‐25‐00 Health Insurance 37,800.00 37,800.007,405.99 1,942.2819.59 10‐5165‐25‐00 Dental Insurance 2,520.00 2,520.00428.48 120.70 17.00 10‐5170‐25‐00 Life Insurance 416.00 416.00 143.81 43.34 34.57 10‐5175‐25‐00 Liability (TML) Workers' Comp 426.00 426.00 642.47 150.82 10‐5180‐25‐00 TMRS Expense 34,483.00 34,483.008,116.73 2,015.7023.54 10‐5185‐25‐00 Long Term/Short Term Disabilit 350.00 350.00 157.69 59.31 45.05 10‐5186‐25‐00 WELLE‐Wellness Prog Reimb Empl 3,360.00 3,360.00362.25 105.00 10.78 10‐5191‐25‐00 Hiring Cost 300.00 300.00 431.03 130.00 143.68 10‐5192‐25‐00 Physical & Psychological 300.00 1,000.001,300.00650.00 50.00 10‐5210‐25‐00 Supplies 3,000.00 3,000.00469.98 15.67 10‐5212‐25‐00 Building Supplies 1,500.00 1,500.00 0.00 10‐5220‐25‐00 Office Equipment 2,440.00 2,440.001,277.42 1,228.17 52.35 10‐5230‐25‐00 Dues,Fees,& Subscriptions 2,000.00 2,000.00265.92 88.98 13.30 10‐5240‐25‐00 Postage and Delivery 100.00 100.00 0.00 10‐5250‐25‐00 Publications 100.00 100.00 0.00 10‐5280‐25‐00 Printing and Reproduction 100.00 100.00 0.00 10‐5320‐25‐00 Repairs & Maintenance 500.00 500.00 140.00 140.00 28.00 10‐5340‐25‐00 Building Repairs 750.00 750.00 0.00 10‐5400‐25‐00 Uniform Expense 1,710.00 1,710.00 0.00 10‐5415‐25‐00 Tuition Reimbursement 6,000.00(1,000.00)5,000.00 0.00 10‐5418‐25‐00 IT Fees 4,500.00 4,500.00322.50 7.17 10‐5419‐25‐00 IT Licenses 5,000.00 5,000.00 0.00 10‐5430‐25‐00 Legal Fees 2,450.00 2,450.00 0.00 10‐5480‐25‐00 Contracted Services 155,000.00 155,000.0092,064.761,084.2059.40 10‐5520‐25‐00 Telephones 2,500.00700.003,200.00769.72 301.32 24.05 10‐5521‐25‐00 Cell Phone Expense 700.00(700.00) (73.76)0.00 10‐5524‐25‐00 Gas‐Building 400.00 400.00 150.16 37.81 37.54 10‐5526‐25‐00 Data Network 4,600.00 4,600.001,595.60381.18 34.69 10‐5530‐25‐00 Travel/Lodging/Meals Expense 1,950.00 1,950.00583.05 29.90 10‐5533‐25‐00 Mileage Expense 1,000.00 1,000.00374.87 37.49 10‐5536‐25‐00 Training/Seminars 5,000.00 5,000.001,272.0050.00 25.44 10‐5600‐25‐00 Special Events 1,000.00 1,000.00 0.00 Subtotal object ‐ 0 644,690.00 644,690.00209,931.7431,589.7032.56Program number: 644,690.00 644,690.00209,931.7431,589.7032.56Department number: 25 Dispatch Department 644,690.00 644,690.00209,931.7431,589.7032.56 10‐5110‐30‐00 Salaries & Wages 1,438,167.00 1,438,167.00394,233.63 101,679.7627.41 10‐5115‐30‐00 Salaries ‐ Overtime 230,000.00 230,000.0077,012.01 18,357.09 33.48 10‐5127‐30‐00 Salaries‐Certification Pay 16,000.00 16,000.004,448.65 1,126.2427.8019 of 39Item 4f TOWN OF PROSPER, TEXASMONTHLY FINANCIAL REPORT‐‐ALL FUNDSJANUARY 2014 Account Number Description Current Current Currrent Current Current Percent YTD Year Year Year YTD Month % Adopted Budget Amendments Amended Budget Actual Actual 10‐5140‐30‐00 Salaries ‐ Longevity Pay 12,606.00 12,606.007,555.00 59.93 10‐5141‐30‐00 Salaries ‐ Incentive 1,750.00 0.00 10‐5143‐30‐00 Cell Phone Allowance 1,030.001,030.000.00 10‐5145‐30‐00 Social Security Expense 105,200.00 105,200.0028,850.247,197.3827.42 10‐5150‐30‐00 Medicare Expense 24,603.00 24,603.006,747.23 1,683.2627.42 10‐5155‐30‐00 SUTA Expense 1,697.00 1,697.00(4,741.74) 123.08 ####### 10‐5160‐30‐00 Health Insurance 146,880.00 146,880.0027,004.707,546.2018.39 10‐5165‐30‐00 Dental Insurance 9,792.00 9,792.001,665.66482.80 17.01 10‐5170‐30‐00 Life Insurance/AD&D 12,489.00 12,489.001,811.94525.20 14.51 10‐5171‐30‐00 Life Insurance‐Supplemental 7,921.00 0.00 10‐5175‐30‐00 Liability (TML) Workers Comp 2,147.00 2,147.0026,555.35 ####### 10‐5180‐30‐00 TMRS Expense 158,365.00 158,365.0049,544.22 12,628.2031.29 10‐5185‐30‐00 Long Term/Short Term Disabilit 2,502.00 2,502.00977.77 489.51 39.08 10‐5186‐30‐00 WELLE‐Wellness Prog Reimb Empl 8,400.00 8,400.002,124.50752.50 25.29 10‐5191‐30‐00 Hiring Cost 1,000.00 1,000.00 0.00 10‐5194‐30‐00 FD Annual Phy & Screening 16,000.00 16,000.002,165.501,414.0013.53 10‐5210‐30‐00 Office Supplies 4,848.00 4,848.00493.73 309.02 10.18 10‐5212‐30‐00 Building Supplies 4,000.00 4,000.002,205.28 55.13 10‐5230‐30‐00 Dues,Fees,& Subscriptions 3,500.00 3,500.003,315.00425.00 94.71 10‐5240‐30‐00 Postage and Delivery 250.00 250.00 80.63 32.25 10‐5250‐30‐00 Publications 350.00 350.00 0.00 10‐5280‐30‐00 Printing and Reproduction 500.00 500.00 256.00 51.20 10‐5320‐30‐00 Repairs & Maintenance 6,500.00 6,500.002,120.17 914.05 32.62 10‐5335‐30‐00 Radio/Video Repairs 20,000.00 20,000.00120.00 0.60 10‐5340‐30‐00 Building Repairs 20,000.00 20,000.004,276.99 573.55 21.39 10‐5350‐30‐00 Vehicle Expense 35,000.00 35,000.008,937.862,705.5825.54 10‐5352‐30‐00 Fuel 35,000.00 35,000.004,567.07 1,904.13 13.05 10‐5400‐30‐00 Uniform Expense 21,000.00 21,000.005,318.55 2,441.0025.33 10‐5410‐30‐00 Professional Services 10,500.00 10,500.00 0.00 10‐5418‐30‐00 IT Fees 7,500.00 7,500.00418.60 5.58 10‐5440‐30‐00 EMS 74,000.00 74,000.0019,590.89 4,554.29 26.47 10‐5480‐30‐00 Contracted Services 10,000.00 10,000.00275.00 155.002.75 10‐5520‐30‐00 Telephones 12,500.008,000.0020,500.0016,851.25 4,441.15 82.20 10‐5521‐30‐00 Cell Phone Expense 8,000.00(8,000.00) (898.76) 0.00 10‐5524‐30‐00 Gas ‐ Building 7,000.00 7,000.001,137.15 720.67 16.25 10‐5525‐30‐00 Electricity 22,000.00 22,000.005,427.981,192.49 24.67 10‐5526‐30‐00 Data Network 12,442.00 12,442.007,059.21 1,699.61 56.74 10‐5530‐30‐00 Travel/Lodging/Meals Expense 3,000.00 3,000.00976.45 25.00 32.55 10‐5533‐30‐00 Mileage Expense 1,500.00 1,500.00 0.00 10‐5536‐30‐00 Training/Seminars 18,000.00 18,000.005,975.002,000.0033.19 10‐5610‐30‐00 Fire Fighting Equipment 18,000.00 18,000.00863.00 4.79 10‐5630‐30‐00 Safety Equipment 25,000.00 25,000.00295.90 1.1820 of 39Item 4f TOWN OF PROSPER, TEXASMONTHLY FINANCIAL REPORT‐‐ALL FUNDSJANUARY 2014 Account Number Description Current Current Currrent Current Current Percent YTD Year Year Year YTD Month % Adopted Budget Amendments Amended Budget Actual Actual Subtotal object ‐ 0 2,566,238.00 2,566,238.00727,217.37178,197.0028.34Program number: 2,566,238.00 2,566,238.00727,217.37178,197.0028.34Department number: 30 Fire/EMS 2,566,238.00 2,566,238.00727,217.37178,197.0028.34 10‐5110‐35‐00 Salaries & Wages 82,318.00 82,318.0024,614.406,300.8029.90 10‐5140‐35‐00 Salaries ‐ Longevity Pay 752.00 752.00 570.00 75.80 10‐5143‐35‐00 Cell Phone Allowance 440.00 440.000.00 10‐5145‐35‐00 Social Security Expense 5,150.00 5,150.001,404.05 370.29 27.26 10‐5150‐35‐00 Medicare Expense 1,205.00 1,205.00328.36 86.60 27.25 10‐5155‐35‐00 SUTA Expense 83.00 83.00 (245.11) 6.89 ####### 10‐5160‐35‐00 Health Insurance 5,400.00 5,400.001,889.50547.68 34.99 10‐5165‐35‐00 Dental Insurance 360.00 360.00 83.28 24.14 23.13 10‐5170‐35‐00 Life Insurance/AD&D 114.00 114.00 90.60 26.26 79.47 10‐5175‐35‐00 Liability (TML) Workers' Comp 105.00 105.00 1,327.77 ####### 10‐5180‐35‐00 TMRS Expense 8,722.00 8,722.002,719.63 736.85 31.18 10‐5185‐35‐00 Long Term/Short Term Disabilit 153.00 153.00 64.56 32.28 42.20 10‐5186‐35‐00 WELLE‐Wellness Prog Reimb Empl 420.00 420.00 210.00 210.00 50.00 10‐5193‐35‐00 Records Retention 250.00 250.00 0.00 10‐5194‐35‐00 FD Annual Phy & Screening 650.00 650.00 0.00 10‐5210‐35‐00 Supplies 300.00 300.00 0.00 10‐5220‐35‐00 Office Equipment 197.72 197.720.00 10‐5230‐35‐00 Dues,Fees,& Subscriptions 600.00 600.00 55.00 55.009.17 10‐5240‐35‐00 Postage and Delivery 60.00 60.008.928.92 14.87 10‐5250‐35‐00 Publications 550.00 550.00 0.00 10‐5280‐35‐00 Printing and Reproduction 500.00 500.00 0.00 10‐5350‐35‐00 Vehicle Expense 1,953.00 1,953.00 0.00 10‐5352‐35‐00 Fuel 2,000.00 2,000.00282.45 104.53 14.12 10‐5353‐35‐00 Oil/Grease/Inspections 500.00 500.00 0.00 10‐5400‐35‐00 Uniform Expense 1,050.00 1,050.00241.60 143.85 23.01 10‐5418‐35‐00 IT Fees 200.00 200.00 0.00 10‐5430‐35‐00 Legal Fees 2,000.00 2,000.00 0.00 10‐5520‐35‐00 Telephones 900.00 1,200.002,100.00190.06 100.069.05 10‐5521‐35‐00 Cell Phone Expense 1,200.00(1,200.00) (172.78) 0.00 10‐5526‐35‐00 Data Network 37.99 37.990.00 10‐5530‐35‐00 Travel/Lodging/Meals Expense 500.00 500.00 850.00 170.00 10‐5536‐35‐00 Training/Seminars 3,200.00 3,200.00595.00 295.00 18.59 10‐5620‐35‐00 Tools & Equipment 150.00 150.00 0.00 10‐5630‐35‐00 Safety Equipment 1,000.00 1,000.00 0.00 10‐5640‐35‐00 Signs & Hardware 1,250.00 1,250.00 0.00 Subtotal object ‐ 0 123,595.00 123,595.0035,955.789,552.0829.09Program number: 123,595.00 123,595.0035,955.789,552.0829.09Department number: 35 Fire Marshall 123,595.00 123,595.0035,955.789,552.0829.09 10‐5110‐40‐00 Salaries & Wages 93,646.00 93,646.0028,002.887,168.8029.9021 of 39Item 4f TOWN OF PROSPER, TEXASMONTHLY FINANCIAL REPORT‐‐ALL FUNDSJANUARY 2014 Account Number Description Current Current Currrent Current Current Percent YTD Year Year Year YTD Month % Adopted Budget Amendments Amended Budget Actual Actual 10‐5115‐40‐00 Salaries ‐ Overtime 4,000.00 4,000.002,438.33 281.22 60.96 10‐5140‐40‐00 Salaries ‐ Longevity Pay 1,237.00 1,237.001,000.00 80.84 10‐5145‐40‐00 Social Security Expense 6,131.00 6,131.001,922.35 454.56 31.36 10‐5150‐40‐00 Medicare Expense 1,434.00 1,434.00449.59 106.31 31.35 10‐5155‐40‐00 SUTA Expense 99.00 99.00 (406.57) 7.52 ####### 10‐5160‐40‐00 Health Insurance 10,800.00 10,800.002,174.50597.68 20.13 10‐5165‐40‐00 Dental Insurance 720.00 720.00 166.57 48.28 23.14 10‐5170‐40‐00 Life Insurance/AD&D 196.00 196.00 54.37 15.76 27.74 10‐5175‐40‐00 Liability (TML) Workers Comp 125.00 125.00 4,540.11 ####### 10‐5180‐40‐00 TMRS Expense 10,383.00 10,383.003,344.73 807.65 32.21 10‐5185‐40‐00 Long Term/Short Term Disabilit 174.00 174.00 68.85 35.19 39.57 10‐5186‐40‐00 WELLE‐Wellness Prog Reimb Empl 840.00 840.00 241.50 70.00 28.75 10‐5191‐40‐00 Hiring Cost 50.00 50.00 0.00 10‐5210‐40‐00 Office Supplies 600.00 600.00 134.36 134.36 22.39 10‐5230‐40‐00 Dues,Fees,& Subscriptions 200.00 200.00 0.00 10‐5250‐40‐00 Publications 50.00 50.00 0.00 10‐5310‐40‐00 Rental Expense 10,000.00 10,000.003,200.00 32.00 10‐5320‐40‐00 Repairs & Maintenance 4,000.00 4,000.00 0.00 10‐5321‐40‐00 Signal Light Repairs 7,400.00 7,400.00 0.00 10‐5340‐40‐00 Building Repairs 2,500.00 2,500.00 0.00 10‐5350‐40‐00 Vehicle Expense 5,500.00 5,500.004,591.58254.63 83.48 10‐5352‐40‐00 Fuel 9,300.00 9,300.00262.42 73.272.82 10‐5353‐40‐00 Oil/Grease/Inspections 800.00 800.00 0.00 10‐5400‐40‐00 Uniform Expense 3,500.00 3,500.00736.92 21.06 10‐5410‐40‐00 Professional Services 8,000.00 8,000.00 0.00 10‐5480‐40‐00 Contracted Services 910,720.00 910,720.00578.78 578.780.06 10‐5520‐40‐00 Telephones 300.00 1,000.001,300.00352.15 352.15 27.09 10‐5521‐40‐00 Cell Phone Expense 1,000.00(1,000.00) (179.09) 0.00 10‐5525‐40‐00 Electricity 100,000.00 100,000.0043,561.41 12,485.3643.56 10‐5526‐40‐00 Data Network 50.38 50.380.00 10‐5530‐40‐00 Travel/Lodging/Meals Expense 800.00 800.00 0.00 10‐5536‐40‐00 Training/Seminars 800.00 800.00 0.00 10‐5620‐40‐00 Tools & Equipment 3,000.00 3,000.0078.44 78.442.62 10‐5630‐40‐00 Safety Equipment 2,000.00 2,000.00337.989.99 16.90 10‐5640‐40‐00 Signs & Hardware 31,000.00 31,000.001,307.16751.204.22 10‐5650‐40‐00 Maintenance Materials 60,000.00 60,000.006,251.601,357.1810.42 10‐6140‐40‐00 Capital Expenditure ‐ Equipmt 76,000.00 76,000.00 0.00 Subtotal object ‐ 0 1,367,305.00 1,367,305.00105,440.3925,539.627.71Program number: 1,367,305.00 1,367,305.00105,440.3925,539.627.71Department number: 40 Streets 1,367,305.00 1,367,305.00105,440.3925,539.627.71 10‐5110‐45‐00 Salaries & Wages 24,536.0024,590.0049,126.005,314.61 1,327.59 10.82 10‐5145‐45‐00 Social Security Expense 849.00 1,525.002,374.00329.50 82.31 13.8822 of 39Item 4f TOWN OF PROSPER, TEXASMONTHLY FINANCIAL REPORT‐‐ALL FUNDSJANUARY 2014 Account Number Description Current Current Currrent Current Current Percent YTD Year Year Year YTD Month % Adopted Budget Amendments Amended Budget Actual Actual 10‐5150‐45‐00 Medicare Expense 198.00357.00555.00 77.06 19.25 13.89 10‐5155‐45‐00 SUTA Expense 14.0025.0039.00 (77.62) 1.33 ####### 10‐5160‐45‐00 Health/Dental Insurance 3,992.003,992.00 0.00 10‐5165‐45‐00 Dental Insurance 145.00145.00 0.00 10‐5170‐45‐00 Life Insurance 47.0047.00 0.00 10‐5175‐45‐00 Liability (TML)/Workers' Comp 17.0061.0078.00 85.66 109.82 10‐5180‐45‐00 TMRS Expense 2,582.002,582.00 0.00 10‐5185‐45‐00 Long Term/Short Term Disabilit 98.0098.00 0.00 10‐5190‐45‐00 Contract Labor 40,000.00(16,667.00) 23,333.0013,333.366,666.6857.14 10‐5210‐45‐00 Supplies 2,000.00 2,000.00834.77 282.23 41.74 10‐5212‐45‐00 Building Supplies 500.00 500.00 0.00 10‐5220‐45‐00 Office Equipment 1,000.00 1,000.00 0.00 10‐5230‐45‐00 Dues,Fees,& Subscriptions 5,600.00 5,600.003,200.00 57.14 10‐5240‐45‐00 Postage and Delivery 400.00 400.00 0.00 10‐5281‐45‐00 Book Purchases 12,000.00 12,000.002,403.29 119.82 20.03 10‐5418‐45‐00 IT Fees 375.00 375.00 0.00 10‐5480‐45‐00 Contracted Services 2,652.00 2,652.00 0.00 10‐5520‐45‐00 Telephones 540.00540.00 0.00 10‐5525‐45‐00 Electricity 5,500.00 5,500.00 0.00 10‐5530‐45‐00 Travel 700.00 700.00 0.00 10‐5533‐45‐00 Mileage Expense 600.00 600.00 0.00 10‐5536‐45‐00 Training/Seminars 500.00 500.00 0.00 10‐5600‐45‐00 Special Events 600.00 600.00 0.00 Subtotal object ‐ 0 98,041.0017,295.00115,336.0025,500.63 8,499.21 22.11Program number: 98,041.0017,295.00115,336.0025,500.63 8,499.21 22.11Department number: 45 Public Library 98,041.0017,295.00115,336.0025,500.63 8,499.21 22.11 10‐5110‐60‐00 Salaries & Wages 590,082.00 590,082.00137,179.3938,645.0423.25 10‐5115‐60‐00 Salaries ‐ Overtime 9,000.00 9,000.003,513.68646.27 39.04 10‐5126‐60‐00 Salaries‐Vacation Buy‐Out 772.00 0.00 10‐5140‐60‐00 Salaries ‐ Longevity Pay 2,583.00 2,583.001,735.00 67.17 10‐5145‐60‐00 Social Security Expense 29,871.00 29,871.008,347.662,251.3427.95 10‐5150‐60‐00 Medicare Expense 6,986.00 6,986.001,952.31 526.53 27.95 10‐5155‐60‐00 SUTA Expense 482.00 482.00 (1,369.35) 39.59 ####### 10‐5160‐60‐00 Health Insurance 75,912.00 75,912.0014,819.03 4,307.4819.52 10‐5165‐60‐00 Dental Insurance 5,061.00 5,061.00856.97 265.5416.93 10‐5170‐60‐00 Life Insurance/AD&D 1,057.00 1,057.00295.50 94.56 27.96 10‐5175‐60‐00 Liability (TML) Workers Comp 610.00 610.00 5,568.06 912.80 10‐5180‐60‐00 TMRS Expense 63,175.00 63,175.0015,219.644,246.19 24.09 10‐5185‐60‐00 Long Term/Short Term Disabilit 876.00 876.00 352.93 180.22 40.29 10‐5186‐60‐00 WELLE‐Wellness Prog Reimb Empl 4,620.00 4,620.00845.25 245.00 18.30 10‐5191‐60‐00 Hiring Cost 155.00 75.000.00 10‐5210‐60‐00 Office Supplies 1,500.00 1,500.001,584.48812.88 105.6323 of 39Item 4f TOWN OF PROSPER, TEXASMONTHLY FINANCIAL REPORT‐‐ALL FUNDSJANUARY 2014 Account Number Description Current Current Currrent Current Current Percent YTD Year Year Year YTD Month % Adopted Budget Amendments Amended Budget Actual Actual 10‐5212‐60‐00 Building Supplies 1,500.00 1,500.0020.00 20.001.33 10‐5220‐60‐00 Office Equipment 5,560.00 5,560.002,377.001,832.0042.75 10‐5230‐60‐00 Dues,Fees,& Subscriptions 2,850.00 2,850.00204.00 204.007.16 10‐5240‐60‐00 Postage and Delivery 175.00 175.00 0.00 10‐5280‐60‐00 Printing and Reproduction 300.00 300.00 369.97 291.46 123.32 10‐5290‐60‐00 Miscellaneous Expense 1,500.00 1,500.00 0.00 10‐5310‐60‐00 Rental Expense 22,000.00 22,000.009,803.002,863.0044.56 10‐5320‐60‐00 Repairs & Maintenance 424,500.00 424,500.0056,498.55 29,731.0613.31 10‐5350‐60‐00 Vehicle Expense 4,500.00 4,500.002,260.99 918.5450.24 10‐5352‐60‐00 Fuel 17,000.00 17,000.001,855.17 582.20 10.91 10‐5353‐60‐00 Oil/Grease/Inspections 2,000.00 2,000.00211.28 39.75 10.56 10‐5400‐60‐00 Uniform Expense 5,700.00 5,700.001,548.87 797.97 27.17 10‐5410‐60‐00 Professional Services 125,000.00 125,000.00 0.00 10‐5418‐60‐00 IT Fees 3,100.00 3,100.00279.96 111.009.03 10‐5430‐60‐00 Legal Fees 2,000.00 2,000.001,862.00114.00 93.10 10‐5480‐60‐00 Contracted Services 154,800.00 154,800.0019,702.00996.00 12.73 10‐5520‐60‐00 Telephones 5,900.005,900.001,824.22 1,652.3030.92 10‐5521‐60‐00 Cell Phone Expense 5,900.00(5,900.00) (1,124.28) 0.00 10‐5525‐60‐00 Electricity 88,000.00 88,000.0032,402.59 5,566.57 36.82 10‐5526‐60‐00 Data Network 1,700.00 1,700.00253.4484.48 14.91 10‐5530‐60‐00 Travel/Lodging/Meals Expense 3,800.00 3,800.0023.54 0.62 10‐5533‐60‐00 Mileage Expense 2,000.00 2,000.00404.37 114.97 20.22 10‐5536‐60‐00 Training/Seminars 6,750.00 6,750.00299.23 299.234.43 10‐5600‐60‐00 Special Events 49,700.00 49,700.0026,668.47(7,181.58) 53.66 10‐5620‐60‐00 Tools & Equipment 5.76 0.00 10‐5630‐60‐00 Safety Equipment 1,600.00 1,600.0015.02 0.94 10‐5640‐60‐00 Signs & Hardware 2,800.00 2,800.00277.50 9.91 10‐6160‐60‐00 Capital Expenditure ‐ Vehicles 52,000.00 52,000.0020,977.75 40.34 Subtotal object ‐ 0 1,778,550.00 1,778,550.00371,972.23 90,248.31 20.91Program number: 1,778,550.00 1,778,550.00371,972.23 90,248.31 20.91Department number: 60 Parks and Recreation 1,778,550.00 1,778,550.00371,972.23 90,248.31 20.91 10‐5110‐70‐00 Salaries & Wages 93,902.0093,902.0022,945.23 5,808.92 24.44 10‐5115‐70‐00 Salaries ‐ Overtime 77,027.00(77,027.00) 0.00 10‐5128‐70‐00 Language Pay 150.00 50.000.00 10‐5140‐70‐00 Salaries ‐ Longevity Pay 185.00 185.00 0.00 10‐5145‐70‐00 Social Security Expense 4,787.001,050.005,837.001,338.61 336.48 22.93 10‐5150‐70‐00 Medicare Expense 1,120.00250.001,370.00313.07 78.70 22.85 10‐5155‐70‐00 SUTA Expense 77.00 77.00 14.82 5.82 19.25 10‐5160‐70‐00 Health Insurance 5,400.00 5,400.001,751.14442.36 32.43 10‐5165‐70‐00 Dental Insurance 360.00 360.00 83.28 24.14 23.13 10‐5170‐70‐00 Life Insurance/AD&D 114.00 114.00 27.197.88 23.85 10‐5175‐70‐00 Liability (TML) Workers Comp 98.00 98.00 119.93 122.3824 of 39Item 4f TOWN OF PROSPER, TEXASMONTHLY FINANCIAL REPORT‐‐ALL FUNDSJANUARY 2014 Account Number Description Current Current Currrent Current Current Percent YTD Year Year Year YTD Month % Adopted Budget Amendments Amended Budget Actual Actual 10‐5180‐70‐00 TMRS Expense 8,107.00 8,107.002,423.19 623.88 29.89 10‐5185‐70‐00 Long Term/Short Term Disabilit 143.00 143.00 60.40 30.20 42.24 10‐5186‐70‐00 WELLE‐Wellness Prog Reimb Empl 420.00 420.00 0.00 10‐5190‐70‐00 Contract Labor 4,800.00 4,800.001,125.00400.00 23.44 10‐5210‐70‐00 Office Supplies 1,500.00 1,500.001,109.34 73.96 10‐5212‐70‐00 Building Supplies 1,000.00 1,000.00398.719.35 39.87 10‐5220‐70‐00 Office Equipment 20.25 0.00 10‐5230‐70‐00 Dues,Fees,& Subscriptions 330.00 330.00 0.00 10‐5240‐70‐00 Postage and Delivery 1,000.00 1,000.0025.05 25.052.51 10‐5250‐70‐00 Publications 100.00 100.00 0.00 10‐5280‐70‐00 Printing and Reproduction 1,000.00 1,000.00201.50 20.15 10‐5310‐70‐00 Rental Expense 24,000.00 24,000.008,225.542,112.51 34.27 10‐5400‐70‐00 Uniform Expense 60.00 60.00 0.00 10‐5418‐70‐00 IT Fees 500.00 500.00 0.00 10‐5420‐70‐00 Municipal Court/Judge Fees 9,600.00 9,600.005,236.22 3,560.0054.54 10‐5425‐70‐00 State Fines Expense 106,800.00(37,475.00) 69,325.00418.74279.160.60 10‐5430‐70‐00 Legal Fees 4,213.00 0.00 10‐5480‐70‐00 Contracted Services 2,000.00 2,000.0030.00 30.001.50 10‐5481‐70‐00 Cash Over/Short (10.00) 0.00 10‐5520‐70‐00 Telephones 300.00 300.00 511.60 127.90 170.53 10‐5524‐70‐00 Gas‐Building 900.00 900.00 191.61 52.63 21.29 10‐5525‐70‐00 Electricity 2,000.00 2,000.00372.9499.90 18.65 10‐5530‐70‐00 Travel/Lodging/Meals Expense 800.00 800.00 0.00 10‐5533‐70‐00 Mileage Expense 1,500.00 1,500.00 0.00 10‐5536‐70‐00 Training/Seminars 1,000.00 1,000.00 0.00 Subtotal object ‐ 0 257,028.00(19,300.00) 237,728.0051,296.3614,104.8821.58Program number: 257,028.00(19,300.00) 237,728.0051,296.3614,104.8821.58Department number: 70 Municipal Court 257,028.00(19,300.00) 237,728.0051,296.3614,104.8821.58 10‐5110‐80‐00 Salaries & Wages 441,348.00 441,348.00107,618.4927,191.02 24.38 10‐5115‐80‐00 Salaries ‐ Overtime 8,000.00 8,000.001,247.05 640.46 15.59 10‐5140‐80‐00 Salaries ‐ Longevity Pay 2,359.00 2,359.001,540.00 65.28 10‐5141‐80‐00 Salaries ‐ Incentive 3,234.00 3,234.00250.00 7.73 10‐5145‐80‐00 Social Security Expense 25,434.00 25,434.006,497.89 1,616.6025.55 10‐5150‐80‐00 Medicare Expense 5,948.00 5,948.001,519.67 378.08 25.55 10‐5155‐80‐00 SUTA Expense 451.00 451.00 (1,062.01) 28.05 ####### 10‐5160‐80‐00 Health Insurance 48,600.00 48,600.009,912.53 2,776.0420.40 10‐5165‐80‐00 Dental Insurance 3,240.00 3,240.00510.56 144.8415.76 10‐5170‐80‐00 Life Insurance/AD&D 914.00 914.00 186.36 55.16 20.39 10‐5175‐80‐00 Liability (TML) Workers Comp 580.00 580.00 1,687.55 290.96 10‐5180‐80‐00 TMRS Expense 47,769.00 47,769.0011,751.09 3,007.9024.60 10‐5185‐80‐00 Long Term/Short Term Disabilit 830.00 830.00 235.26 119.78 28.35 10‐5186‐80‐00 WELLE‐Wellness Prog Reimb Empl 3,360.00 3,360.00619.50 175.00 18.4425 of 39Item 4f TOWN OF PROSPER, TEXASMONTHLY FINANCIAL REPORT‐‐ALL FUNDSJANUARY 2014 Account Number Description Current Current Currrent Current Current Percent YTD Year Year Year YTD Month % Adopted Budget Amendments Amended Budget Actual Actual 10‐5190‐80‐00 Contract Labor 1,200.00 1,200.00540.00 120.00 45.00 10‐5191‐80‐00 Hiring Cost 60.00 60.00 235.01 391.68 10‐5210‐80‐00 Office Supplies 7,000.00 7,000.001,221.54139.68 17.45 10‐5212‐80‐00 Building Supplies 500.00 500.00 361.21 234.05 72.24 10‐5220‐80‐00 Office Equipment 13,000.00 13,000.00592.48 4.56 10‐5230‐80‐00 Dues,Fees,& Subscriptions 67,350.00 67,350.0023,140.002,850.0034.36 10‐5240‐80‐00 Postage and Delivery 50.00 50.00 0.00 10‐5280‐80‐00 Printing and Reproduction 2,000.00 2,000.00336.54 16.83 10‐5320‐80‐00 Repairs & Maintenance 1,000.00 1,000.00 0.00 10‐5340‐80‐00 Building Repairs 150.00 150.00 70.25 70.25 46.83 10‐5350‐80‐00 Vehicle Expense 1,500.00 1,500.002,190.71 146.05 10‐5352‐80‐00 Fuel 12,000.00 12,000.001,399.20461.16 11.66 10‐5353‐80‐00 Oil/Grease/Inspections 2,400.00 2,400.00274.19 11.43 10‐5400‐80‐00 Uniform Expense 2,700.00 2,700.00 0.00 10‐5415‐80‐00 Tuition Reimbursement 5,100.00 5,100.00 0.00 10‐5418‐80‐00 IT Fees 4,000.00 4,000.00401.00 356.00 10.03 10‐5430‐80‐00 Legal Fees 4,000.00 4,000.0095.00 2.38 10‐5465‐80‐00 Public Relations 500.00 500.00 0.00 10‐5480‐80‐00 Contracted Services 750.00 750.00 180.00 60.00 24.00 10‐5520‐80‐00 Telephones 1,500.002,880.004,380.001,230.64891.02 28.10 10‐5521‐80‐00 Cell Phone Expense 2,880.00(2,880.00) (389.60) 0.00 10‐5525‐80‐00 Electricity 6,500.00 6,500.001,918.76732.91 29.52 10‐5526‐80‐00 Data Network 3,200.00 3,200.00987.74227.9430.87 10‐5530‐80‐00 Travel/Lodging/Meals Expense 600.00 600.00 74.02 12.34 10‐5533‐80‐00 Mileage Expense 6,000.00 6,000.00 0.00 10‐5536‐80‐00 Training/Seminars 7,975.00 7,975.001,062.00520.00 13.32 10‐5630‐80‐00 Safety Equipment 800.00 800.00 116.00 14.50 10‐6110‐80‐00 Capital Expenditure 30,000.00 30,000.00 0.00 10‐6160‐80‐00 Capital Expenditure ‐ Vehicles 20,000.00 20,000.00 0.00 Subtotal object ‐ 0 796,782.00 796,782.00178,940.23 42,406.3422.46Program number: 796,782.00 796,782.00178,940.23 42,406.3422.46Department number: 80 Inspections 796,782.00 796,782.00178,940.23 42,406.3422.46 10‐5110‐85‐00 Salaries & Wages 47,312.00 47,312.0014,174.373,604.0029.96 10‐5115‐85‐00 Salaries ‐ Overtime 1,500.00 1,500.00713.25 69.15 47.55 10‐5140‐85‐00 Salaries ‐ Longevity Pay 387.00 387.00 205.00 52.97 10‐5141‐85‐00 Salaries ‐ Incentive 750.00 750.00 1,000.00 133.33 10‐5145‐85‐00 Social Security Expense 3,097.00 3,097.00987.85 224.90 31.90 10‐5150‐85‐00 Medicare Expense 724.00 724.00 231.03 52.60 31.91 10‐5155‐85‐00 SUTA Expense 50.00 50.00 (248.29) 3.71 ####### 10‐5160‐85‐00 Health Insurance 5,400.00 5,400.001,009.33 292.56 18.69 10‐5165‐85‐00 Dental Insurance 360.00 360.00 83.28 24.14 23.13 10‐5170‐85‐00 Life Insurance/AD&D 106.00 106.00 27.19 7.88 25.6526 of 39Item 4f TOWN OF PROSPER, TEXASMONTHLY FINANCIAL REPORT‐‐ALL FUNDSJANUARY 2014 Account Number Description Current Current Currrent Current Current Percent YTD Year Year Year YTD Month % Adopted Budget Amendments Amended Budget Actual Actual 10‐5175‐85‐00 Liability (TML) Workers' Comp 63.00 63.00 239.85 380.71 10‐5180‐85‐00 TMRS Expense 5,244.00 5,244.001,706.60398.26 32.54 10‐5185‐85‐00 Long Term/Short Term Disabilit 88.00 88.00 37.12 18.56 42.18 10‐5186‐85‐00 WELLE‐Wellness Prog Reimb Empl 420.00 420.00 120.75 35.00 28.75 10‐5190‐85‐00 Contract Labor 15,000.00 15,000.00 0.00 10‐5210‐85‐00 Office Supplies 500.00 500.00 320.35 54.45 64.07 10‐5212‐85‐00 Building Supplies 13.09 0.00 10‐5230‐85‐00 Dues,Fees,& Subscriptions 200.00 200.00 40.00 40.00 20.00 10‐5240‐85‐00 Postage and Delivery 400.00 400.00 0.00 10‐5280‐85‐00 Printing and Reproduction 1,200.00 1,200.00 0.00 10‐5350‐85‐00 Vehicle Expense 500.00 500.00 0.00 10‐5352‐85‐00 Fuel 1,000.00 1,000.0062.38 62.386.24 10‐5353‐85‐00 Oil/Grease/Inspections 100.00 100.00 0.00 10‐5400‐85‐00 Uniform Expense 200.00 200.00 89.98 44.99 10‐5418‐85‐00 IT Fees 111.00 111.000.00 10‐5430‐85‐00 Legal Fees 8,000.00 8,000.00294.00 3.68 10‐5435‐85‐00 Legal Notices/Filings 500.00 500.00 98.25 98.25 19.65 10‐5480‐85‐00 Contracted Services 68,000.00 68,000.003,600.00 5.29 10‐5520‐85‐00 Telephones 300.00500.00800.00 213.08 164.55 26.64 10‐5521‐85‐00 Cell Phone Expense 500.00(500.00) (73.98)0.00 10‐5526‐85‐00 Data Network 37.99 37.990.00 10‐5536‐85‐00 Training/Seminars 500.00 500.00 310.00 310.00 62.00 10‐5600‐85‐00 Special Events 1,000.00 1,000.0051.58 51.585.16 10‐5620‐85‐00 Tools & Equipment 250.00 250.00 33.94 33.94 13.58 10‐5640‐85‐00 Signs & Hardware 500.00 500.00 56.62 56.62 11.32 Subtotal object ‐ 0 164,151.00 164,151.0025,619.59 5,677.5415.61Program number: 164,151.00 164,151.0025,619.59 5,677.5415.61Department number: 85 Code Enforcement 164,151.00 164,151.0025,619.59 5,677.5415.61 10‐5110‐90‐00 Salaries & Wages 213,259.00 213,259.0062,593.05 16,012.01 29.35 10‐5115‐90‐00 Salaries ‐ Overtime 500.00 500.00 36.17 7.23 10‐5126‐90‐00 Salaries‐Vacation Buy‐Out 1,940.36 0.00 10‐5140‐90‐00 Salaries ‐ Longevity Pay 1,059.00 1,059.00740.00 69.88 10‐5141‐90‐00 Salaries ‐ Incentive 1,000.00 1,000.00 0.00 10‐5145‐90‐00 Social Security Expense 13,381.00 13,381.003,803.59 921.61 28.43 10‐5150‐90‐00 Medicare Expense 3,129.00 3,129.00889.54215.53 28.43 10‐5155‐90‐00 SUTA Expense 216.00 216.00 (439.48) 16.12 ####### 10‐5160‐90‐00 Health Insurance 16,408.00 16,408.005,419.39 1,505.62 33.03 10‐5165‐90‐00 Dental Insurance 1,094.00 1,094.00249.85 72.42 22.84 10‐5170‐90‐00 Life Insurance/AD&D 318.00 318.00 81.56 23.64 25.65 10‐5175‐90‐00 Liability (TML) Workers Comp 273.00 273.00 483.14 176.97 10‐5180‐90‐00 TMRS Expense 22,661.00 22,661.006,934.21 1,730.9630.60 10‐5185‐90‐00 Long Term/Short Term Disabilit 397.00 397.00 157.00 79.70 39.5527 of 39Item 4f TOWN OF PROSPER, TEXASMONTHLY FINANCIAL REPORT‐‐ALL FUNDSJANUARY 2014 Account Number Description Current Current Currrent Current Current Percent YTD Year Year Year YTD Month % Adopted Budget Amendments Amended Budget Actual Actual 10‐5186‐90‐00 WELLE‐Wellness Prog Reimb Empl 1,260.00 1,260.00362.25 105.00 28.75 10‐5190‐90‐00 Contract Labor 1,300.00 1,300.00540.00 120.00 41.54 10‐5191‐90‐00 Hiring Cost 50.00 50.00 0.00 10‐5210‐90‐00 Office Supplies 3,500.00 3,500.00431.13 86.99 12.32 10‐5212‐90‐00 Building Supplies 250.00 250.00 0.00 10‐5230‐90‐00 Dues,Fees,& Subscriptions 5,000.00 5,000.0029.90 14.950.60 10‐5240‐90‐00 Postage and Delivery 200.00 200.00 0.00 10‐5400‐90‐00 Uniform Expense 300.00 300.00 0.00 10‐5410‐90‐00 Professional Services 132,000.00 132,000.0026,000.0026,000.0019.70 10‐5415‐90‐00 Tuition Reimbursement 5,000.00 5,000.00 0.00 10‐5418‐90‐00 IT Fees 111.00 111.000.00 10‐5430‐90‐00 Legal Fees 50,000.00 50,000.002,717.00171.005.43 10‐5435‐90‐00 Legal Notices/Filings 1,500.00 1,500.00 0.00 10‐5520‐90‐00 Telephones 3,300.002,400.005,700.00709.94612.90 12.46 10‐5521‐90‐00 Cell Phone Expense 2,400.00(2,400.00) (293.36) 0.00 10‐5526‐90‐00 Data Network 8,250.00 8,250.002,213.38135.89 26.83 10‐5530‐90‐00 Travel/Lodging/Meals Expense 2,000.00 2,000.00506.49 25.33 10‐5533‐90‐00 Mileage Expense 1,500.00 1,500.0048.03 48.033.20 10‐5536‐90‐00 Training/Seminars 4,000.00 4,000.00 0.00 Subtotal object ‐ 0 495,505.00 495,505.00116,557.5047,690.01 23.52Program number: 495,505.00 495,505.00116,557.5047,690.01 23.52Department number: 90 Planning 495,505.00 495,505.00116,557.5047,690.01 23.52 10‐5110‐98‐00 Salaries & Wages 354,304.00(6,500.00) 347,804.0084,418.4425,237.45 24.27 10‐5126‐98‐00 Salaries‐Vacation Buy‐Out 2,537.84 0.00 10‐5140‐98‐00 Salaries ‐ Longevity Pay 749.00 749.00 440.00 58.75 10‐5141‐98‐00 Salaries ‐ Incentive 300.00 300.00 0.00 10‐5143‐98‐00 Cell Phone Allowance 180.00 180.000.00 10‐5145‐98‐00 Social Security Expense 22,032.00 22,032.004,564.73 1,422.6420.72 10‐5150‐98‐00 Medicare Expense 5,153.00 5,153.001,171.68332.71 22.74 10‐5155‐98‐00 SUTA Expense 355.00 355.00 (211.15) 24.17 (59.48) 10‐5160‐98‐00 Health Insurance 16,408.00 16,408.005,352.45 1,760.7432.62 10‐5165‐98‐00 Dental Insurance 1,094.00 1,094.00214.85 72.42 19.64 10‐5170‐98‐00 Life Insurance/AD&D 342.00 342.00 90.76 29.62 26.54 10‐5175‐98‐00 Liability (TML) Workers Comp 450.00 450.00 227.01 50.45 10‐5180‐98‐00 TMRS Expense 37,312.00 37,312.009,269.29 2,733.6024.84 10‐5185‐98‐00 Long Term/Short Term Disabilit 660.00 660.00 211.16 127.26 31.99 10‐5186‐98‐00 WELLE‐Wellness Prog Reimb Empl 1,260.00 1,260.00120.75 35.009.58 10‐5191‐98‐00 Hiring Cost 80.00 0.00 10‐5210‐98‐00 Office Supplies 800.00 800.00 1,265.55 539.42 158.19 10‐5212‐98‐00 Building Supplies 350.00 350.00 48.68 48.68 13.91 10‐5220‐98‐00 Office Equipment 830.50 0.00 10‐5230‐98‐00 Dues,Fees,& Subscriptions 900.00 900.00 0.0028 of 39Item 4f TOWN OF PROSPER, TEXASMONTHLY FINANCIAL REPORT‐‐ALL FUNDSJANUARY 2014 Account Number Description Current Current Currrent Current Current Percent YTD Year Year Year YTD Month % Adopted Budget Amendments Amended Budget Actual Actual 10‐5240‐98‐00 Postage and Delivery 20.00 20.00 0.00 10‐5250‐98‐00 Publications 83.00 83.000.00 10‐5280‐98‐00 Printing and Reproduction 78.51 0.00 10‐5400‐98‐00 Uniform Expense 100.00 100.00 0.00 10‐5418‐98‐00 IT Fees 250.00 250.00 241.00 111.00 96.40 10‐5419‐98‐00 IT Licenses 562.80 262.800.00 10‐5430‐98‐00 Legal Fees 8,500.00 8,500.003,517.83 479.33 41.39 10‐5435‐98‐00 Legal Notices/Filings 518.00 0.00 10‐5520‐98‐00 Telephones 3,060.003,060.001,189.041,017.11 38.86 10‐5521‐98‐00 Cell Phone Expense 3,060.00(3,060.00) (293.36) 0.00 10‐5524‐98‐00 Gas‐Building 551.84329.310.00 10‐5525‐98‐00 Electricity 674.12 173.700.00 10‐5530‐98‐00 Travel/Lodging/Meals Expense 3,250.00 3,250.00576.88 21.19 17.75 10‐5533‐98‐00 Mileage Expense 2,500.00 2,500.00511.15 121.21 20.45 10‐5536‐98‐00 Training/Seminars 7,000.00 7,000.00480.58 6.87 10‐6110‐98‐00 Capital Expenditure 20,000.006,500.0026,500.00 0.00 Subtotal object ‐ 0 487,149.00 487,149.00119,797.2934,849.0024.59Program number: 487,149.00 487,149.00119,797.2934,849.0024.59Department number: 98 Engineering 487,149.00 487,149.00119,797.2934,849.0024.59 Expense Subtotal ‐ ‐ ‐ ‐ ‐ ‐ 12,457,760.00(2,005.00) 12,455,755.003,176,312.74876,075.15 25.50Fund number: 10 General 696,443.00(2,005.00) 694,438.00(3,358,588.35)(961,326.99) ####### 20‐4005‐50‐00 Water Revenue (5,200,000.00) (5,200,000.00)(1,273,152.22)(218,267.92) 24.48 20‐4010‐50‐00 Water Tap & Construction (300,000.00) (300,000.00) (159,250.00) (44,050.00) 53.08 20‐4012‐50‐00 Saturday Inspection Fee (2,500.00) (2,500.00) (1,950.00) (750.00) 78.00 20‐4018‐50‐00 Internet Cr. Card Fees(Global) (14,000.00) (14,000.00) (6,522.81) (1,372.55) 46.59 20‐4019‐50‐00 Cr. Card Pmt Fees(auth.net) (1,900.00) (1,900.00) (1,174.64) (269.84) 61.82 20‐4060‐50‐00 NSF Fees (1,200.00) (1,200.00) (350.00) (75.00) 29.17 20‐4242‐50‐00 Re‐Inspection Fees (2,000.00) (2,000.00) (350.00) 17.50 20‐4610‐50‐00 Interest Income (70,000.00) (70,000.00) (22,362.53) (4,406.92) 31.95 20‐4910‐50‐00 Other Revenue (80,000.00) (80,000.00) (31,713.51) (13,972.25) 39.64 Subtotal object ‐ 0 (5,671,600.00) (5,671,600.00)(1,496,825.71)(283,164.48) 26.39Program number: (5,671,600.00) (5,671,600.00)(1,496,825.71)(283,164.48) 26.39Department number: 50 Water (5,671,600.00) (5,671,600.00)(1,496,825.71)(283,164.48) 26.39 20‐4006‐55‐00 Sewer Revenue (2,247,850.00) (2,247,850.00)(844,819.02) (207,002.39) 37.58 20‐4010‐55‐00 Sewer Tap & Construction (150,000.00) (150,000.00) (62,661.45) (18,861.45) 41.77 Subtotal object ‐ 0 (2,397,850.00) (2,397,850.00)(907,480.47) (225,863.84) 37.85Program number: (2,397,850.00) (2,397,850.00)(907,480.47) (225,863.84) 37.85Department number: 55 Sewer (2,397,850.00) (2,397,850.00)(907,480.47) (225,863.84) 37.85 20‐4000‐57‐00 W/S Service Initiation (50,000.00) (50,000.00) (14,280.00) (2,685.00) 28.56 20‐4007‐57‐00 Sanitation (800,000.00) (800,000.00) (293,573.00) (73,862.34) 36.70 20‐4009‐57‐00 Late Fee‐W/S (56,000.00) (56,000.00) (31,431.80) (8,818.37) 56.13 Subtotal object ‐ 0 (906,000.00) (906,000.00) (339,284.80) (85,365.71) 37.4529 of 39Item 4f TOWN OF PROSPER, TEXASMONTHLY FINANCIAL REPORT‐‐ALL FUNDSJANUARY 2014 Account Number Description Current Current Currrent Current Current Percent YTD Year Year Year YTD Month % Adopted Budget Amendments Amended Budget Actual Actual Program number: (906,000.00) (906,000.00) (339,284.80) (85,365.71) 37.45Department number: 57 Utility Billing Department (906,000.00) (906,000.00) (339,284.80) (85,365.71) 37.45 Revenue Subtotal ‐ ‐ ‐ ‐ ‐ ‐ (8,975,450.00) (8,975,450.00)(2,743,590.98)(594,394.03) 30.57 20‐5110‐50‐00 Salaries & Wages 525,495.00 525,495.00135,578.3136,240.83 25.80 20‐5115‐50‐00 Salaries ‐ Overtime 25,000.00 25,000.008,035.141,629.95 32.14 20‐5140‐50‐00 Salaries ‐ Longevity Pay 2,311.00 2,311.001,545.00 66.85 20‐5141‐50‐00 Salary‐Incentive 250.00 0.00 20‐5145‐50‐00 Social Security Expense 29,526.00 29,526.008,694.37 2,258.42 29.45 20‐5150‐50‐00 Medicare Expense 6,905.00 6,905.002,033.35 528.17 29.45 20‐5155‐50‐00 SUTA Expense 476.00 476.00 (1,613.57) 38.14 ####### 20‐5160‐50‐00 Health Insurance 59,400.00 59,400.0011,231.53 3,125.0818.91 20‐5165‐50‐00 Dental Insurance 3,544.00 3,544.00749.55 217.26 21.15 20‐5170‐50‐00 Life Insurance/AD&D 779.00 779.00 290.23 89.72 37.26 20‐5175‐50‐00 Liability (TML) Workers' Comp 603.00 603.00 10,635.84 ####### 20‐5176‐50‐00 TML Prop. & Liab Insurance 35,000.00 35,000.0026,708.60 76.31 20‐5180‐50‐00 TMRS Expense 58,045.00 58,045.0015,444.444,093.63 26.61 20‐5185‐50‐00 Long Term/Short Term Disabilit 767.00 767.00 348.04173.65 45.38 20‐5186‐50‐00 WELLE‐Wellness Prog Reimb‐Empl 3,780.00 3,780.00810.25 245.00 21.44 20‐5190‐50‐00 Contract Labor 15,000.00 15,000.00 0.00 20‐5191‐50‐00 Hiring Cost 540.00 540.00 433.60 393.60 80.30 20‐5210‐50‐00 Office Supplies 3,000.00 3,000.00324.88 183.88 10.83 20‐5212‐50‐00 Building Supplies 1,500.00 1,500.001,529.46761.32 101.96 20‐5220‐50‐00 Office Equipment 10,500.00 10,500.002,530.001,769.0024.10 20‐5230‐50‐00 Dues,Fees,& Subscriptions 12,444.00 12,444.0095.00 0.76 20‐5240‐50‐00 Postage and Delivery 24,000.00 24,000.00 0.00 20‐5250‐50‐00 Publications 50.00 50.00 0.00 20‐5280‐50‐00 Printing and Reproduction 8,200.00 8,200.0078.51 0.96 20‐5290‐50‐00 Miscellaneous Expense 296.20 0.00 20‐5310‐50‐00 Rental Expense 5,000.00 5,000.00 0.00 20‐5320‐50‐00 Repairs & Maintenance 3,500.00 3,500.00704.58 20.13 20‐5340‐50‐00 Building Repairs 3,900.00 3,900.0093.72 2.40 20‐5350‐50‐00 Vehicle Expense 25,000.00 25,000.007,531.17 3,605.37 30.13 20‐5352‐50‐00 Fuel 36,500.00 36,500.005,640.041,529.7815.45 20‐5353‐50‐00 Oil/Grease/Inspections 2,400.00 2,400.00554.36 14.50 23.10 20‐5400‐50‐00 Uniform Expense 11,100.00 11,100.005,217.32 2,085.59 47.00 20‐5410‐50‐00 Professional Services 5,000.00 5,000.00 0.00 20‐5412‐50‐00 Audit Fees 1,000.00 1,000.00 0.00 20‐5416‐50‐00 Engineering Fees 7,000.00 7,000.00 0.00 20‐5418‐50‐00 IT Fees 23,000.00 23,000.003,016.25 13.11 20‐5419‐50‐00 IT Licenses 1,200.00 1,200.00 0.00 20‐5430‐50‐00 Legal Fees 2,000.00 2,000.0038.00 38.001.90 20‐5435‐50‐00 Legal Notices/Filings 1,000.00 1,000.00 0.0030 of 39Item 4f TOWN OF PROSPER, TEXASMONTHLY FINANCIAL REPORT‐‐ALL FUNDSJANUARY 2014 Account Number Description Current Current Currrent Current Current Percent YTD Year Year Year YTD Month % Adopted Budget Amendments Amended Budget Actual Actual 20‐5475‐50‐00 Credit Card Fees 16,000.00 16,000.009,300.01 2,022.6058.13 20‐5480‐50‐00 Contracted Services 94,800.00 94,800.0010,636.65 11.22 20‐5520‐50‐00 Telephones 6,300.009,320.0015,620.002,902.061,856.6018.58 20‐5521‐50‐00 Cell Phone Expense 9,320.00(9,320.00) (671.74) 0.00 20‐5524‐50‐00 Gas‐Building 2,500.00 2,500.001,402.25 432.85 56.09 20‐5525‐50‐00 Electricity 200,000.00 200,000.0040,778.45 8,601.11 20.39 20‐5526‐50‐00 Data Network 6,800.00 6,800.001,669.82 24.56 20‐5530‐50‐00 Travel/Lodging/Meals Expense 1,000.00 1,000.00489.60 48.96 20‐5533‐50‐00 Mileage Expense 2,700.00 2,700.00331.98 12.30 20‐5536‐50‐00 Training/Seminars 7,200.00 7,200.00 0.00 20‐5540‐50‐00 Water Testing 3,000.00 3,000.008.49 0.28 20‐5545‐50‐00 Meter Purchases 220,500.00 220,500.0059,488.51 4,900.71 26.98 20‐5550‐50‐00 Water Purchases 1,902,100.00 1,902,100.00567,044.67147,712.8029.81 20‐5620‐50‐00 Tools & Equipment 16,000.00 16,000.001,871.41 472.2411.70 20‐5630‐50‐00 Safety Equipment 11,200.00 11,200.001,422.13 12.70 20‐5640‐50‐00 Signs & Hardware 1,300.00 1,300.0085.957.536.61 20‐5650‐50‐00 Maintenance Materials 12,000.00 12,000.002,410.03 2,410.03 20.08 20‐5660‐50‐00 Chemical Supplies 1,000.00 1,000.00 0.00 20‐5670‐50‐00 System Improvements/Repairs 76,650.00 76,650.0015,329.31 1,191.19 20.00 20‐6110‐50‐00 Capital Expenditure 215,600.00 215,600.00 0.00 20‐6140‐50‐00 Capital Expenditure ‐ Equipmen 95,000.00 95,000.0094,675.00 99.66 20‐6160‐50‐00 Capital Expenditure ‐ Vehicles 22,000.00 22,000.00 0.00 20‐6186‐50‐00 2013 Bond Payment 386,928.00 386,928.00 0.00 20‐6192‐50‐00 2011 Refd Bond Pmt 278,084.00 278,084.00 0.00 20‐6193‐50‐00 2012 CO Bond Payment 243,200.00 243,200.00 0.00 20‐6197‐50‐00 2004 CO Bond Payment 538,408.00 538,408.00 0.00 20‐6198‐50‐00 2006 CO Bond Payment 492,952.00 492,952.00 0.00 20‐6199‐50‐00 2008 CO Bond Payment 119,813.00 119,813.00 0.00 20‐6200‐50‐00 Bond Administrative Fees 3,000.00 3,000.00 0.00 20‐7143‐50‐00 Transfer to Internal Serv. Fd 2,160.00 2,160.00 0.00 20‐7147‐50‐00 Transfer to GF 494,610.00 494,610.00164,870.0041,217.5033.33 Subtotal object ‐ 0 6,436,590.00 6,436,590.001,223,540.49269,174.3119.01Program number: 6,436,590.00 6,436,590.001,223,540.49269,174.3119.01Department number: 50 Water 6,436,590.00 6,436,590.001,223,540.49269,174.3119.01 20‐5110‐55‐00 Salaries & Wages 162,724.00 162,724.0034,950.408,716.8021.48 20‐5115‐55‐00 Salaries ‐ Overtime 10,000.00 10,000.002,845.03 573.72 28.45 20‐5140‐55‐00 Salaries ‐ Longevity Pay 950.00 950.00 645.00 67.90 20‐5145‐55‐00 Social Security Expense 7,604.00 7,604.002,246.10538.18 29.54 20‐5150‐55‐00 Medicare Expense 2,788.00 2,788.00525.29 125.86 18.84 20‐5155‐55‐00 SUTA Expense 123.00 123.00 (685.83) 9.37 ####### 20‐5160‐55‐00 Health Insurance 21,600.00 21,600.003,508.47 984.3416.24 20‐5165‐55‐00 Dental Insurance 1,440.00 1,440.00249.85 72.42 17.3531 of 39Item 4f TOWN OF PROSPER, TEXASMONTHLY FINANCIAL REPORT‐‐ALL FUNDSJANUARY 2014 Account Number Description Current Current Currrent Current Current Percent YTD Year Year Year YTD Month % Adopted Budget Amendments Amended Budget Actual Actual 20‐5170‐55‐00 Life Insurance/AD&D 337.00 337.00 81.56 23.64 24.20 20‐5175‐55‐00 Liability (TML) Workers' Comp 204.00 204.00 5,568.06 ####### 20‐5180‐55‐00 TMRS Expense 18,235.00 18,235.004,084.061,005.31 22.40 20‐5185‐55‐00 Long Term/Short Term Disabilit 281.00 281.00 102.45 55.00 36.46 20‐5186‐55‐00 WELLE‐Wellness Prog Reimb‐Empl 1,680.00 1,680.00241.50 70.00 14.38 20‐5191‐55‐00 Hiring Cost 200.00 200.00 0.00 20‐5210‐55‐00 Office Supplies 800.00 800.00 304.65 38.08 20‐5212‐55‐00 Building Supplies 600.00 600.00 36.50 36.506.08 20‐5220‐55‐00 Office Equipment 1,200.00 1,200.00 0.00 20‐5230‐55‐00 Dues,Fees,& Subscriptions 2,222.00 2,222.00 0.00 20‐5240‐55‐00 Postage and Delivery 1,200.00 1,200.00 0.00 20‐5250‐55‐00 Publications 100.00 100.00 0.00 20‐5260‐55‐00 Advertising 600.00 600.00 0.00 20‐5280‐55‐00 Printing and Reproduction 1,000.00 1,000.00 0.00 20‐5310‐55‐00 Rental Expense 8,000.00 8,000.00 0.00 20‐5320‐55‐00 Repairs & Maintenance 400.00 400.00 0.00 20‐5335‐55‐00 Radio/Video Repairs 7,000.00 7,000.00425.00 425.006.07 20‐5340‐55‐00 Building Repairs 2,000.00 2,000.00 0.00 20‐5350‐55‐00 Vehicle Expense 6,000.00 6,000.00534.62 507.688.91 20‐5352‐55‐00 Fuel 18,000.00 18,000.00744.91 211.034.14 20‐5353‐55‐00 Oil/Grease/Inspections 1,500.00 1,500.00 0.00 20‐5400‐55‐00 Uniform Expense 8,600.00 8,600.001,181.75 13.74 20‐5412‐55‐00 Audit Fees 400.00 400.00 0.00 20‐5416‐55‐00 Engineering Fees 1,500.00 1,500.00 0.00 20‐5418‐55‐00 IT Fees 3,700.00 3,700.00 0.00 20‐5430‐55‐00 Legal Fees 500.00 500.00 0.00 20‐5480‐55‐00 Contracted Services 50,000.00 50,000.00 0.00 20‐5520‐55‐00 Telephones 1,000.004,560.005,560.00663.05 370.07 11.93 20‐5521‐55‐00 Cell Phone Expense 4,560.00(4,560.00) (140.82) 0.00 20‐5524‐55‐00 Gas ‐ Building 8.00 8.00 378.19 378.19 ####### 20‐5525‐55‐00 Electricity 49,300.00 49,300.0014,492.744,519.82 29.40 20‐5530‐55‐00 Travel/Lodging/Meals Expense 600.00 600.00 0.00 20‐5533‐55‐00 Mileage Expense 500.00 500.00 0.00 20‐5536‐55‐00 Training/Seminars 4,600.00 4,600.00 0.00 20‐5540‐55‐00 Water Testing 500.00 500.00 0.00 20‐5560‐55‐00 Sewer Management Fees 1,111,300.00 1,111,300.00441,448.7786,218.42 39.72 20‐5620‐55‐00 Tools & Equipment 7,400.00 7,400.0080.46 80.461.09 20‐5630‐55‐00 Safety Equipment 11,100.00 11,100.00845.99 350.007.62 20‐5640‐55‐00 Signs & Hardware 1,000.00 1,000.002.06 0.21 20‐5650‐55‐00 Maintenance Materials 8,000.00 8,000.00150.00 150.001.88 20‐5660‐55‐00 Chemical Supplies 2,000.00 2,000.00 0.00 20‐5670‐55‐00 System Improvements/Repairs 28,000.00 28,000.00842.16 113.913.0132 of 39Item 4f TOWN OF PROSPER, TEXASMONTHLY FINANCIAL REPORT‐‐ALL FUNDSJANUARY 2014 Account Number Description Current Current Currrent Current Current Percent YTD Year Year Year YTD Month % Adopted Budget Amendments Amended Budget Actual Actual 20‐5680‐55‐00 Lift Station Expense 30,000.00 30,000.007,944.92 2,937.5026.48 20‐6140‐55‐00 Capital Expenditure ‐ Equipmt 26,000.00 26,000.0014,637.35 56.30 20‐6160‐55‐00 Capital Expenditure ‐ Vehicles 25,000.00 25,000.00 0.00 20‐7147‐55‐00 Transfer to GF 214,350.00 214,350.0071,450.0017,862.5033.33 Subtotal object ‐ 0 1,868,706.00 1,868,706.00610,525.06126,194.9032.67Program number: 1,868,706.00 1,868,706.00610,525.06126,194.9032.67Department number: 55 Sewer 1,868,706.00 1,868,706.00610,525.06126,194.9032.67 20‐5110‐57‐00 Salaries & Wages 81,903.00 81,903.0027,138.786,777.79 33.14 20‐5115‐57‐00 Salaries ‐ Overtime 5,000.00 5,000.00917.28 246.57 18.35 20‐5140‐57‐00 Salaries ‐ Longevity Pay 849.00 849.00 415.00 48.88 20‐5141‐57‐00 Salary‐Incentive 800.00 800.00 1,000.00 125.00 20‐5145‐57‐00 Social Security Expense 5,490.00 5,490.001,745.35 413.67 31.79 20‐5150‐57‐00 Medicare Expense 1,284.00 1,284.00408.18 96.74 31.79 20‐5155‐57‐00 SUTA Expense 89.00 89.00 (204.35) 6.32 ####### 20‐5160‐57‐00 Health Insurance 10,904.00 10,904.002,343.31 679.22 21.49 20‐5165‐57‐00 Dental Insurance 727.00 727.00 166.57 48.28 22.91 20‐5170‐57‐00 AD&D/Life Insurance 183.00 183.00 54.37 15.76 29.71 20‐5175‐57‐00 Liability (TML) Workers' Comp 112.00 112.00 227.01 202.69 20‐5180‐57‐00 TMRS Expense 7,886.00 7,886.002,739.93 677.79 34.74 20‐5185‐57‐00 Long Term/Short Term Disabilit 152.00 152.00 60.50 28.68 39.80 20‐5186‐57‐00 WELLE‐Wellness Prog Reimb‐Empl 840.00 840.00 155.75 70.00 18.54 20‐5190‐57‐00 Contract Labor 50.00 50.00 0.00 20‐5191‐57‐00 Hiring Cost 40.00 40.00 0.00 20‐5210‐57‐00 Office Supplies 1,500.00 1,500.00802.92 53.53 20‐5212‐57‐00 Building Supplies 500.00 500.00 0.00 20‐5230‐57‐00 Dues,Fees,& Subscriptions 200.00 200.00 0.00 20‐5240‐57‐00 Postage and Delivery 21,000.00 21,000.005,620.35 1,843.51 26.76 20‐5280‐57‐00 Printing and Reproduction 1,000.00 1,000.00 0.00 20‐5400‐57‐00 Uniform Expense 150.00 150.00 0.00 20‐5418‐57‐00 IT Fees 8,000.00 8,000.00112.50 112.501.41 20‐5419‐57‐00 IT Licenses 10,000.00 10,000.00 0.00 20‐5470‐57‐00 Trash Collection 718,000.00 718,000.00202,150.6667,736.12 28.16 20‐5479‐57‐00 Household Haz. Waste Disposal 2,500.00 2,500.00700.00 150.00 28.00 20‐5480‐57‐00 Contracted Services 8,983.00 8,983.001,580.76529.87 17.60 20‐5481‐57‐00 Cash Short/Over 1.99 0.00 20‐5520‐57‐00 Telephones 800.00 800.00 248.50 62.20 31.06 20‐5530‐57‐00 Travel/Lodging/Meals Expense 300.00 300.00 0.00 20‐5533‐57‐00 Mileage Expense 1,500.00 1,500.00 0.00 20‐5536‐57‐00 Training/Seminars 1,100.00 1,100.00 0.00 20‐7147‐57‐00 Transfer to GF 80,200.00 80,200.0026,733.32 6,683.33 33.33 Subtotal object ‐ 0 972,042.00 972,042.00275,118.6886,178.35 28.30Program number: 972,042.00 972,042.00275,118.6886,178.35 28.3033 of 39Item 4f TOWN OF PROSPER, TEXASMONTHLY FINANCIAL REPORT‐‐ALL FUNDSJANUARY 2014 Account Number Description Current Current Currrent Current Current Percent YTD Year Year Year YTD Month % Adopted Budget Amendments Amended Budget Actual Actual Department number: 57 Utility Billing Department 972,042.00 972,042.00275,118.6886,178.35 28.30 Expense Subtotal ‐ ‐ ‐ ‐ ‐ ‐ 9,277,338.00 9,277,338.002,109,184.23481,547.5622.74Fund number: 20 Water/Sewer 301,888.00 301,888.00(634,406.75) (112,846.47) ####### 30‐4105‐10‐00 Property Taxes ‐Delinquent (30,000.00) (30,000.00) (30,151.41) (15,162.36) 100.51 30‐4110‐10‐00 Property Taxes ‐Current (2,763,240.00) (2,763,240.00)(2,539,613.06)(726,682.94) 91.91 30‐4115‐10‐00 Taxes ‐Penalties (18,000.00) (18,000.00) (6,338.22) (2,697.21) 35.21 30‐4610‐10‐00 Interest Income (12,000.00) (12,000.00) (2,893.62) (1,959.46) 24.11 Subtotal object ‐ 0 (2,823,240.00) (2,823,240.00)(2,578,996.31)(746,501.97) 91.35Program number: (2,823,240.00) (2,823,240.00)(2,578,996.31)(746,501.97) 91.35Department number: 10 Administrative (2,823,240.00) (2,823,240.00)(2,578,996.31)(746,501.97) 91.35 Revenue Subtotal ‐ ‐ ‐ ‐ ‐ ‐ (2,823,240.00) (2,823,240.00)(2,578,996.31)(746,501.97) 91.35 30‐6186‐10‐00 2013 GO Ref Bond 282,672.22 282,672.22 0.00 30‐6191‐10‐00 2010 Tax Note Payment 365,166.25 365,166.25 0.00 30‐6192‐10‐00 2011 Ref Bond Pmt 177,791.00 177,791.00 0.00 30‐6193‐10‐00 2012 GO Bond Payment 112,412.50 112,412.50 0.00 30‐6197‐10‐00 2004 CO Bond Payment 329,992.00 329,992.00 0.00 30‐6198‐10‐00 2006 Bond Payment 455,033.00 455,033.00 0.00 30‐6199‐10‐00 2008 CO Bond Payment 1,078,313.00 1,078,313.00 0.00 30‐6200‐10‐00 Bond Administrative Fees 20,000.00 20,000.00(36,977.52) ####### Subtotal object ‐ 0 2,821,379.97 2,821,379.97(36,977.52) (1.31)Program number: 2,821,379.97 2,821,379.97(36,977.52) (1.31)Department number: 10 Administrative 2,821,379.97 2,821,379.97(36,977.52) (1.31) Expense Subtotal ‐ ‐ ‐ ‐ ‐ ‐ 2,821,379.97 2,821,379.97(36,977.52) (1.31)Fund number: 30 Interest and Sinking (1,860.03) (1,860.03) (2,615,973.83)(746,501.97) ####### 40‐4100‐10‐00 Charges for Services (30,000.00) (30,000.00) 0.00 40‐4610‐10‐00 Interest Income (500.00) (500.00) (217.97) (54.49) 43.59 40‐4995‐10‐00 Transfer In (19,160.00) (19,160.00) 0.00 Subtotal object ‐ 0 (49,660.00) (49,660.00) (217.97) (54.49)0.44Program number: (49,660.00) (49,660.00) (217.97) (54.49)0.44Department number: 10 General Fund (49,660.00) (49,660.00) (217.97) (54.49)0.44 Revenue Subtotal ‐ ‐ ‐ ‐ ‐ ‐ (49,660.00) (49,660.00) (217.97) (54.49)0.44 40‐5160‐10‐00 MERP H & D Expense ‐ GF 49,000.00 49,000.009,072.67 5,022.67 18.52 Subtotal object ‐ 0 49,000.00 49,000.009,072.67 5,022.67 18.52Program number: 49,000.00 49,000.009,072.67 5,022.67 18.52Department number: 10 General Fund 49,000.00 49,000.009,072.67 5,022.67 18.52 Expense Subtotal ‐ ‐ ‐ ‐ ‐ ‐ 49,000.00 49,000.009,072.67 5,022.67 18.52Fund number: 40 Internal Service Fund (660.00) (660.00) 8,854.704,968.18####### 45‐4001‐10‐00 Storm Drainage Utility Fee (228,800.00) (228,800.00) (80,074.33) (20,123.94) 35.00 45‐4610‐10‐00 Interest Storm Utility (1,600.00) (1,600.00) (553.74) (136.11) 34.61 Subtotal object ‐ 0 (230,400.00) (230,400.00) (80,628.07) (20,260.05) 35.00Program number: (230,400.00) (230,400.00) (80,628.07) (20,260.05) 35.00Department number: 10 Administration (230,400.00) (230,400.00) (80,628.07) (20,260.05) 35.0034 of 39Item 4f TOWN OF PROSPER, TEXASMONTHLY FINANCIAL REPORT‐‐ALL FUNDSJANUARY 2014 Account Number Description Current Current Currrent Current Current Percent YTD Year Year Year YTD Month % Adopted Budget Amendments Amended Budget Actual Actual Revenue Subtotal ‐ ‐ ‐ ‐ ‐ ‐ (230,400.00) (230,400.00) (80,628.07) (20,260.05) 35.00 45‐5110‐10‐00 Salaries 28,514.00 28,514.008,515.682,172.0029.87 45‐5115‐10‐00 Salaries‐Overtime 2,000.00 2,000.00595.45 97.18 29.77 45‐5140‐10‐00 Salaries‐Longevity Pay 195.00 195.00 0.00 45‐5145‐10‐00 Social Security Expense 1,904.00 1,904.00565.58 140.92 29.71 45‐5150‐10‐00 Medicare Expense 445.00 445.00 132.28 32.96 29.73 45‐5155‐10‐00 SUTA Expense 31.00 31.00 11.31 2.31 36.48 45‐5160‐10‐00 Health Insurance 5,400.00 5,400.001,165.16305.12 21.58 45‐5165‐10‐00 Dental Expense 360.00 360.00 0.00 45‐5170‐10‐00 Life Ins/AD&D 64.00 64.00 27.197.88 42.48 45‐5175‐10‐00 Liability (TML) Workers Comp 39.00 39.00 1,447.69 ####### 45‐5180‐10‐00 TMRS Expense 3,224.00 3,224.00974.87 247.47 30.24 45‐5185‐10‐00 Long Term/Short Term Disabilit 53.00 53.00 0.00 45‐5186‐10‐00 WELLE‐Wellness Prog Reimb Empl 420.00 420.00 120.75 35.00 28.75 45‐5191‐10‐00 Hiring Cost 40.00 40.00 0.00 45‐5210‐10‐00 Office Supplies 400.00 400.00 0.00 45‐5250‐10‐00 Publications 37.00 37.00 0.00 45‐5310‐10‐00 Rental Expense 7,800.00 7,800.00 0.00 45‐5320‐10‐00 Repairs & Maiantenance 800.00 800.00 0.00 45‐5340‐10‐00 Building Repairs 500.00 500.00 0.00 45‐5350‐10‐00 Vehicle Expense 1,500.00 1,500.00 0.00 45‐5352‐10‐00 Fuel 2,000.00 2,000.00285.74111.30 14.29 45‐5353‐10‐00 Oil/Grease/Inspections 400.00 400.00 0.00 45‐5400‐10‐00 Uniforms 1,700.00 1,700.00465.98 27.41 45‐5410‐10‐00 Professional Services‐Storm Dr 5,000.00 5,000.0014,000.00 280.00 45‐5480‐10‐00 Contract Services 38,000.00 38,000.00 0.00 45‐5520‐10‐00 Telephones 300.00350.00650.00 139.76 139.76 21.50 45‐5521‐10‐00 Cell Phone Expense 350.00(350.00) (68.58)0.00 45‐5530‐10‐00 Travel/Lodging/Meals Expense 200.00 200.00 0.00 45‐5536‐10‐00 Training/Seminars 800.00 800.00 0.00 45‐5620‐10‐00 Tools & Equipment 2,000.00 2,000.00 0.00 45‐5630‐10‐00 Safety Equipment 1,500.00 1,500.00170.99 11.40 45‐5640‐10‐00 Signs & Hardware 600.00 600.00 0.00 45‐5650‐10‐00 Maintenance Materials 4,000.00 4,000.00982.29 24.56 45‐6140‐10‐00 Capital Expense‐Equipment 163,726.00 163,726.00 0.00 45‐6193‐10‐00 2012 CO Bond Payment 106,918.00 106,918.00 0.00 45‐7143‐10‐00 Transfer to Internal Serv. Fd 240.00 240.00 0.00 45‐7147‐10‐00 Transfer to GF 12,540.00 12,540.004,180.001,045.0033.33 Subtotal object ‐ 0 394,000.00 394,000.0033,780.72 4,268.328.57Program number: 394,000.00 394,000.0033,780.72 4,268.328.57Department number: 10 Administration 394,000.00 394,000.0033,780.72 4,268.328.57 Expense Subtotal ‐ ‐ ‐ ‐ ‐ ‐ 394,000.00 394,000.0033,780.72 4,268.328.5735 of 39Item 4f TOWN OF PROSPER, TEXASMONTHLY FINANCIAL REPORT‐‐ALL FUNDSJANUARY 2014 Account Number Description Current Current Currrent Current Current Percent YTD Year Year Year YTD Month % Adopted Budget Amendments Amended Budget Actual Actual Fund number: 45 Storm Drainage Utility Fund 163,600.00 163,600.00(46,847.35) (15,991.73) (28.64) 60‐4045‐60‐00 Park Dedication‐Fees (100,000.00) (100,000.00) 0.00 60‐4055‐60‐00 Park Improvement (200,000.00) (200,000.00) (100,000.00) (100,000.00) 50.00 60‐4530‐60‐00 Contributions (17,500.00) (7,500.00)0.00 60‐4615‐60‐00 Interest‐Park Dedication (1,200.00) (1,200.00) (650.56) (172.60) 54.21 60‐4620‐60‐00 Interest‐Park Improvements (350.00) (350.00) (249.45) (59.92) 71.27 Subtotal object ‐ 0 (301,550.00) (301,550.00) (118,400.01) (107,732.52) 39.26Program number: (301,550.00) (301,550.00)(118,400.01) (107,732.52) 39.26Department number: 60 Parks and Recreation (301,550.00) (301,550.00) (118,400.01) (107,732.52) 39.26 Revenue Subtotal ‐ ‐ ‐ ‐ ‐ ‐ (301,550.00) (301,550.00) (118,400.01) (107,732.52) 39.26 60‐5290‐60‐00 Miscellaneous Expense 42,459.3642,429.360.00 60‐5410‐60‐00 Professional Services‐Pk Ded 12,093.83 6,660.690.00 60‐5411‐60‐00 Professional Services‐Pk Imp 20,000.00 20,000.00 0.00 60‐6120‐60‐00 Capital Exp‐Pk Improvements 30,000.00 30,000.008,500.008,500.0028.33 60‐6140‐60‐00 Capital Exp‐Pk Dedication 650,000.00 650,000.00 0.00 Subtotal object ‐ 0 700,000.00 700,000.0063,053.19 57,590.059.01Program number: 700,000.00 700,000.0063,053.19 57,590.059.01Department number: 60 Parks and Recreation 700,000.00 700,000.0063,053.19 57,590.059.01 Expense Subtotal ‐ ‐ ‐ ‐ ‐ ‐ 700,000.00 700,000.0063,053.19 57,590.059.01Fund number: 60 Parks & Recreation Fund 398,450.00 398,450.00(55,346.82) (50,142.47) (13.89) 65‐4015‐99‐00 Impact Fees ‐Water (800,000.00) (800,000.00) (441,268.00) (148,128.00) 55.16 65‐4020‐99‐00 Impact Fees ‐Sewer (700,000.00) (700,000.00) (142,524.50) (40,605.75) 20.36 65‐4040‐99‐00 Thoroughfare Impact Fees (1,100,000.00) (1,100,000.00)(386,151.60) (116,462.20) 35.11 65‐4041‐99‐00 West Thorfare Imp. Fees Rev (86,404.00) (14,908.00) 0.00 65‐4615‐99‐00 Interest‐Water Impact Fee (4,000.00) (4,000.00) (1,416.47) (409.03) 35.41 65‐4620‐99‐00 Interest‐Sewer Impact Fee (4,000.00) (4,000.00) (645.03) (191.37) 16.13 65‐4640‐99‐00 Interest‐Thorfare Imp Fee (12,000.00) (12,000.00) (1,271.23) (399.98) 10.59 65‐4641‐99‐00 Interest‐West Thorfare imp fee (483.15) (142.90)0.00 Subtotal object ‐ 0 (2,620,000.00) (2,620,000.00)(1,060,163.98)(321,247.23) 40.46Program number: (2,620,000.00) (2,620,000.00)(1,060,163.98)(321,247.23) 40.46Department number: 99 Impact Fees (2,620,000.00) (2,620,000.00)(1,060,163.98)(321,247.23) 40.46 Revenue Subtotal ‐ ‐ ‐ ‐ ‐ ‐ (2,620,000.00) (2,620,000.00)(1,060,163.98)(321,247.23) 40.46 65‐5415‐99‐00 Professional Serv‐Water Imp Fe 1,220,000.00 1,220,000.0053,699.31 11,281.174.40 65‐5420‐99‐00 Professional Serv‐Sewer Imp Fe 255,000.00 255,000.00 0.00 65‐5440‐99‐00 Professional Serv‐Thorfare Imp 60,000.00 60,000.00 0.00 65‐6115‐99‐00 Capital Expenditure‐Water 422,396.85 189,651.650.00 65‐7144‐99‐00 Transfer to Capital Proj Fund 300,000.00 300,000.00 0.00 Subtotal object ‐ 0 1,835,000.00 1,835,000.00476,096.16200,932.8225.95Program number: 1,835,000.00 1,835,000.00476,096.16200,932.8225.95Department number: 99 Impact Fees 1,835,000.00 1,835,000.00476,096.16200,932.8225.95 Expense Subtotal ‐ ‐ ‐ ‐ ‐ ‐ 1,835,000.00 1,835,000.00476,096.16200,932.8225.95Fund number: 65 Impact Fees (785,000.00) (785,000.00) (584,067.82) (120,314.41) 74.4036 of 39Item 4f TOWN OF PROSPER, TEXASMONTHLY FINANCIAL REPORT‐‐ALL FUNDSJANUARY 2014 Account Number Description Current Current Currrent Current Current Percent YTD Year Year Year YTD Month % Adopted Budget Amendments Amended Budget Actual Actual 67‐4530‐10‐00 Police Donation Inc (16,000.00) (16,000.00) (8,160.00) (1,877.00) 51.00 67‐4531‐10‐00 Fire Dept‐Donation Inc (12,000.00) (12,000.00) (4,292.00) (892.00) 35.77 67‐4532‐10‐00 Safety Fair Donations (2,000.00) (2,000.00) 0.00 67‐4535‐10‐00 Child Safety Inc (9,000.00) (9,000.00) (5,863.07) (2,331.55) 65.15 67‐4536‐10‐00 Court Security Revenue (2,900.00) (2,900.00) (1,450.43) (273.90) 50.02 67‐4537‐10‐00 Technology Fd Revenue (4,000.00) (4,000.00)(1,935.84) (365.16) 48.40 67‐4610‐10‐00 Interest Income (1,605.92) (314.18)0.00 67‐4721‐10‐00 Country Xmas Donations (10,000.00) (10,000.00) (17,951.00) (350.00) 179.51 67‐4761‐10‐00 Tree Mitigation Revenue (14,175.00) 0.00 67‐4915‐10‐00 Escrow Income (60,187.28) (60,187.28)0.00 67‐4916‐10‐00 Cash Seizure Forfeit‐PD (500.00) (500.00) (3,250.00) (1,000.00) 650.00 Subtotal object ‐ 0 (56,400.00) (56,400.00)(118,870.54) (67,591.07)210.76Program number: (56,400.00) (56,400.00) (118,870.54) (67,591.07) 210.76Department number: 10 Administrative (56,400.00) (56,400.00) (118,870.54) (67,591.07) 210.76 Revenue Subtotal ‐ ‐ ‐ ‐ ‐ ‐ (56,400.00) (56,400.00) (118,870.54) (67,591.07) 210.76 67‐5202‐10‐00 Country Xmas Expense 10,000.00 10,000.0010,001.3010,001.30100.01 67‐5203‐10‐00 Court Technology Expense 12,200.00 12,200.003,571.33 29.27 67‐5204‐10‐00 Court Security Expense 2,500.00 2,500.00272.00 68.00 10.88 67‐5205‐10‐00 Police Donation Exp 8,000.00 8,000.004,000.00 50.00 67‐5206‐10‐00 Fire Dept Donation Exp 8,000.00 8,000.002,374.99 1,175.5029.69 67‐5207‐10‐00 Health & Safety Fair Exp 1,500.00 1,500.00 0.00 67‐5208‐10‐00 Child Safety Expense 1,000.00 1,000.00 0.00 67‐5209‐10‐00 Escrow Expense 15,500.00 15,500.00182,024.45 ####### 67‐5216‐10‐00 Volunteer Per Diem Expense 260.00 95.000.00 67‐5291‐10‐00 Special Operations 500.00 500.00 0.00 67‐5292‐10‐00 PD Seizure Expense 200.00 200.000.00 Subtotal object ‐ 0 59,200.00 59,200.00202,704.0711,539.80342.41Program number: 59,200.00 59,200.00202,704.0711,539.80342.41Department number: 10 Administrative 59,200.00 59,200.00202,704.0711,539.80342.41 Expense Subtotal ‐ ‐ ‐ ‐ ‐ ‐ 59,200.00 59,200.00202,704.0711,539.80342.41Fund number: 67 Special Revenue‐Donations 2,800.00 2,800.0083,833.53 (56,051.27) ####### 73‐5160‐10‐00 Health Insurance 21.32 0.00 Subtotal object ‐ 0 21.32 0.00Program number: 21.32 0.00Department number: 10 Administration 21.32 0.00 Expense Subtotal ‐ ‐ ‐ ‐ ‐ ‐ 21.32 0.00Fund number: 73 Empl'ee Health Trust Fund 21.32 0.00 75‐4530‐10‐00 Contributions (105,000.00) (50,000.00)0.00 75‐4611‐10‐00 Interest‐2004 Bond (1,000.00) (1,000.00)(681.57) (170.18)68.16 75‐4612‐10‐00 Interest‐2006 Bond (1,000.00) (1,000.00) (105.79) (21.57) 10.58 75‐4613‐10‐00 Interest 2008 Bond (1,000.00) (1,000.00) (6,073.83) (1,147.40) 607.38 75‐4615‐10‐00 Interest‐2011 Refd Bond (70.00) (70.00) 0.0037 of 39Item 4f TOWN OF PROSPER, TEXASMONTHLY FINANCIAL REPORT‐‐ALL FUNDSJANUARY 2014 Account Number Description Current Current Currrent Current Current Percent YTD Year Year Year YTD Month % Adopted Budget Amendments Amended Budget Actual Actual 75‐4616‐10‐00 Interest 2012 GO Bond (5,000.00) (5,000.00) (3,847.10) (905.50) 76.94 75‐4999‐10‐00 Bond Proceeds (1,965,000.00) (1,965,000.00) 0.00 Subtotal object ‐ 0 (1,973,070.00) (1,973,070.00)(115,708.29) (52,244.65)5.86Program number: (1,973,070.00) (1,973,070.00)(115,708.29) (52,244.65)5.86Department number: 10 Capital Projects (1,973,070.00) (1,973,070.00)(115,708.29) (52,244.65)5.86 Revenue Subtotal ‐ ‐ ‐ ‐ ‐ ‐ (1,973,070.00) (1,973,070.00)(115,708.29) (52,244.65)5.86 75‐5110‐10‐00 Salaries & Wages 92,820.00 92,820.0026,843.366,793.6028.92 75‐5140‐10‐00 Salaries ‐ Longevity 459.00 459.00 0.00 75‐5141‐10‐00 Salary ‐ Incentive 300.00 300.00 0.00 75‐5145‐10‐00 Social Security Expense 5,802.00 5,802.001,614.34404.55 27.82 75‐5150‐10‐00 Medicare Expense 1,357.00 1,357.00377.5494.61 27.82 75‐5155‐10‐00 SUTA Expense 93.00 93.00 (245.20) 6.80 ####### 75‐5160‐10‐00 Health Insurance 5,400.00 5,400.001,418.40567.36 26.27 75‐5165‐10‐00 Dental Insurance 360.00 360.00 72.42 24.14 20.12 75‐5170‐10‐00 Life Insurance/AD&D 114.00 114.00 27.197.88 23.85 75‐5175‐10‐00 Liability (TML) Workers' Comp 118.00 118.00 145.67 123.45 75‐5180‐10‐00 TMRS Expense 9,826.00 9,826.002,834.85 729.63 28.85 75‐5185‐10‐00 Long Term/Short Term Disabilit 173.00 173.00 0.00 75‐5186‐10‐00 WELLE‐Wellness Prog Reimb‐Empl 420.00 420.00 0.00 75‐5412‐10‐00 Professional Serv‐2006 Bond 13,177.506,588.750.00 75‐5419‐10‐00 Professional Services 9,000.009,000.000.00 75‐5520‐10‐00 Telephone Expense 219.36 219.360.00 75‐5521‐10‐00 Cell Phone Expense (113.18)0.00 75‐5533‐10‐00 Mileage Expense 1,657.15 0.00 75‐6112‐10‐00 Capital Expenditures‐2006 Bond 3,411.25 0.00 75‐6113‐10‐00 Capital Expenditure 2008 Bond 1,419,872.49439,379.060.00 75‐6116‐10‐00 Capital Expenditure ‐ WS Prjts 1,100.00 0.00 75‐6610‐10‐00 Construction 4,662,758.00 4,662,758.00 0.00 Subtotal object ‐ 0 4,780,000.00 4,780,000.001,481,526.32463,702.5630.99Program number: 4,780,000.00 4,780,000.001,481,526.32463,702.5630.99Department number: 10 Capital Projects 4,780,000.00 4,780,000.001,481,526.32463,702.5630.99 Expense Subtotal ‐ ‐ ‐ ‐ ‐ ‐ 4,780,000.00 4,780,000.001,481,526.32463,702.5630.99Fund number: 75 Capital Projects 2,806,930.00 2,806,930.001,365,818.03411,457.9148.66 76‐4610‐10‐00 Interest Income (50,000.00) (50,000.00) (12,832.87) (3,023.38) 25.67 76‐4999‐10‐00 Bond Proceeds (1,000,000.00) (1,000,000.00) 0.00 Subtotal object ‐ 0 (1,050,000.00) (1,050,000.00)(12,832.87) (3,023.38)1.22Program number: (1,050,000.00) (1,050,000.00)(12,832.87) (3,023.38)1.22Department number: 10 Capital Projects‐W/S (1,050,000.00) (1,050,000.00)(12,832.87) (3,023.38)1.22 Revenue Subtotal ‐ ‐ ‐ ‐ ‐ ‐ (1,050,000.00) (1,050,000.00)(12,832.87) (3,023.38)1.22 76‐6610‐10‐00 Construction 1,000,000.00 1,000,000.00 0.00 76‐6610‐10‐00‐1202‐WA Construction 72,000.00 0.00 76‐6610‐10‐00‐1203‐SW Construction 2,409.72 0.0038 of 39Item 4f TOWN OF PROSPER, TEXASMONTHLY FINANCIAL REPORT‐‐ALL FUNDSJANUARY 2014 Account Number Description Current Current Currrent Current Current Percent YTD Year Year Year YTD Month % Adopted Budget Amendments Amended Budget Actual Actual 76‐6610‐10‐00‐1203‐WA Construction 3,931.66 0.00 Subtotal object ‐ 0 1,000,000.00 1,000,000.0078,341.38 7.83Program number: 1,000,000.00 1,000,000.0078,341.38 7.83Department number: 10 Capital Projects‐W/S 1,000,000.00 1,000,000.0078,341.38 7.8339 of 39Item 4f "A PLACE WHERE EVERYONE MATTERS"Investment Portfolio SummaryOctober 1, 2013 ‐ December 31, 2013Prepared ByTrish FeatherstonAccounting ManagerTown of ProsperKent R. AustinFinance DirectorTown of ProsperItem 4g Item 4g Town of ProsperInventory Holding Report 12/31/13ALL FUND TYPES EXCEPT EDCMaturity BreakBank Deposit28,161,507 Subtotal ‐ Cash28,161,507 56.8%TexPool6,506,284TexStar8,538,144 Subtotal ‐ Pools15,044,428 30.3%Agencies, Treasuries, Muni Bonds & CD's0‐3 mos.03‐6 mos.5,237,2146‐9 mos.09‐12 mos.0 Subtotal ‐ Other < 1 yr 5,237,214 10.6%‐5,000,000 10,000,000 15,000,000 20,000,000 25,000,000 30,000,000 Town of Prosper ‐Maturity Break1 Day LiquidityTown of Prosper ‐Security Type1‐2 yrs.1,129,1232‐3 yrs.0> 3 yrs.00.06% Subtotal ‐ Other 1 or > 1 yr 1,129,123 2.3%Total49,572,272 100%Asset DiversificationBank Deposit28,161,507 56.8%TexPool6,506,284 13.1%TexStar8,538,144 17.2%Certificate of Deposit6,366,337 12.8%Total49,572,272 100.0%05,000,00010,000,00015,000,00020,000,00025,000,00030,000,000Bank Deposit TexPool TexStar Certificate of DepositTown of Prosper ‐Security TypeItem 4g Town of ProsperCURRENT INVESTMENT - TOWN PORTFOLIOAS OF DECEMBER 31, 2013ALL FUND TYPES (EXCEPT EDC) AS DEFINED IN TOWN'S INVESTMENT POLICY PURCHASE DAYS DAYS TOTYPE OF DISCOUNT SETTLEMENT MATURITY HELD MATURITY % TOTAL WEIGHTED AVG WEIGHTEDCUSIP SECURITY PER $100PARDISCOUNTED DATEDATETERM 12/31/13 12/31/13 RATEMATURITY AVG. YIELDBank Deposit Cash100.00000% 28,161,507 28,161,50712/31/13 01/01/14101 0.7500% 56.81%0.5680.43%TexpoolPool100.00000%6,506,284 6,506,28412/31/13 01/01/14101 0.0439% 13.12%0.1310.01%TexStarPool100.00000%8,538,144 8,538,14412/31/13 01/01/14101 0.0399% 17.22%0.1720.01%CDCD100.00000%1,027,154 1,027,15412/12/11 12/12/151,461 750 711 0.6500% 2.07%14.7320.01%CDCD100.00000%101,969101,96906/10/13 06/14/15734 204 530 0.4500% 0.21%1.0900.00%CDCD100.00000%2,660,544 2,660,54412/10/12 06/10/14547 386 161 0.5000% 5.37%8.6410.03%CDCD100.00000%2,576,670 2,576,67006/10/13 06/10/14365 204 161 0.4500% 5.20%8.3680.02% 49,572,272 49,572,272 3,116 1,544 1,572 100.00% 33.70330.50%G:\Finance\Investment Policy\Investment Report December 2013Town Page 3Item 4g Town of Prosper, TexasQuarterly Portfolio ChangeCash57%Pools30%CD's13%Total Portfolio Assets as of 12/31/2013 are $49,572,272Cash53%Pools33%CD's14%Total Portfolio Assets as of 9/30/2013 are $46,092,616Average Portfolio Yield:0.50%Average Portfolio Yield:0.50%Average Portfolio Maturity:33 daysAverage Portfolio Maturity:34 days% Maturing within 3 months: 86%% Maturing within 3 months:87%G:\Finance\Investment Policy\Investment Report December 2013Town Page 4Item 4g Town of ProsperQUARTERLY POSITION CHANGE REPORT - TOWNOctober 1 - December 31, 2013PURCHASE BOOK VALUE MARKET VALUETYPE OF CURRENT SETTLEMENT MATURITY BEGINNING ENDING BEGINNING ENDINGCUSIP SECURITY PAR RATE DATE DATE 10/01/13 12/31/13 CHANGE 10/01/13 12/31/13 CHANGECash Positions: Bank Cash InvestmentsBank Deposit Cash28,161,507 Various12/31/13 01/01/14 24,693,162 28,161,507 3,468,345 24,693,162 28,161,507 3,468,345 Subtotal Cash Positions28,161,50724,693,162 28,161,507 3,468,345 24,693,162 28,161,507 3,468,345 Cash Positions: Pooled InvestmentsTexPool Pool6,506,284 0.044% 12/31/13 01/01/14 6,505,565 6,506,284719 6,505,565 6,506,284719 TexStar Pool8,538,144 0.040% 12/31/13 01/01/14 8,537,286 8,538,144858 8,537,286 8,538,144858 Subtotal Pool Investments 15,044,42815,042,852 15,044,428 1,577 15,042,852 15,044,428 1,577 Certificates of DepositCD1,027,154 0.65% 12/12/13 12/12/15 1,023,734 1,027,154 3,420 1,023,734 1,027,154 3,420 CD101,969 0.45% 06/14/13 06/14/15 101,854 101,969114 101,854 101,969114 CD2,660,544 0.50% 12/10/12 06/10/14 2,657,231 2,660,544 3,312 2,657,231 2,660,544 3,312 CD2,576,670 0.45% 06/10/13 06/10/14 2,573,783 2,576,670 2,888 2,573,783 2,576,670 2,888 Subtotal CD's6,366,3376,356,602 6,366,337 9,734 6,356,602 6,366,337 9,734 Grand Total49,572,27246,092,616 49,572,272 3,479,656 46,092,616 49,572,272 3,479,656 G:\Finance\Investment Policy\Investment Report December 2013Town Page 5Item 4g Page 1 of 1 To: Mayor and Town Council From: Gary R. McHone, Assistant Chief of Police Through: Harlan Jefferson, Town Manager Re: Town Council Meeting – February 25, 2014 Agenda Item: Discuss and act upon an amendment to the current Interlocal agreement between the Town of Prosper and the North Central Texas Council of Government (NCTCOG) regarding the implementation of the Smart911 system. Description of Agenda Item: The Town of Prosper and the North Central Texas Council of Governments (NCTCOG) have an interlocal agreement that has been in place regarding 911 services. The Interlocal agreement required an addendum in order to implement the Smart911 system due to access required by Smart911 that was not covered in the previous agreement. The addendum took longer than anticipated due to discussions between NCTCOG and CSEC. CSEC is the state oversight for the NCTCOG and approval was required through them to update the Interlocal agreement. The Town is implementing the Smart911 system in order to provide citizens with another way to enhance the service provided by first responders. Legal Obligations and Review: Terrence Welch of Brown & Hofmeister, L.L.P., has reviewed the amended Interlocal Agreement with NCTCOG as to form and legality. Attached Documents: 1. Amendment to the Interlocal Agreement Town Staff Recommendation: Staff recommends approval of the amendment to the Interlocal Agreement with the NCTCOG in order to implement the Smart911 system. Proposed Motion: I make a motion to accept the amendment to the Interlocal Agreement with NCTCOG which includes the implementation of Smart911. Prosper is a place where everyone matters. POLICE Item 4h DRAFT AMENDMENT Jan. 31, 2014 AMENDMENT TO INTERLOCAL AGREEMENT BETWEEN NORTH CENTRAL TEXAS COUNCIL OF GOVERNMENTS AND THE TOWN OF PROSPER, TEXAS FOR E9-1-1 SERVICE AND EQUIPMENT This amendment (Amendment) is made as of the effective date (hereafter provided) between the North Central Texas Council of Governments (NCTCOG) and the Town of Prosper, Texas (PROSPER) and is intended to amend an interlocal agreement between the parties dated September 1, 2013 providing for enhanced 9-1-1 emergency telephone services for the residents of PROSPER. WHEREAS, the parties have previously entered into an interlocal agreement dated September 1, 2013 (ILA) for the provision of E911 service and equipment; and WHEREAS, PROSPER has entered into an agreement with Rave Mobile Safety (RAVE AGREEMENT) dated September 30, 2013 for various SMART911 services which will be available to the residents of PROSPER in connection with the 911 emergency telephone communication services currently provided by NCTCOG under the ILA with PROSPER; and WHEREAS, Prosper has requested that NCTCOG allow PROSPER’s SMART911 server to connect with NCTCOG’s 911 server for the purpose of sharing certain data from emergency calls from the residents of PROSPER and both parties have agreed to allow limited data sharing in order for PROSPER’s SMART911 system to operate properly within the city. NOW THEREFORE, in consideration of the mutual obligations herein set forth and other good and valuable consideration, the parties agree as follows: 1. During the term of the ILA and all extensions thereto, NCTCOG will allow a serial connection from PROSPER’s 9-1-1 customer premises equipment to the local 9-1-1 server maintained by NCTCOG for the limited purpose of sharing telephone numbers of callers with Item 4h DRAFT AMENDMENT Jan. 31, 2014 PROSPER’s SMART911 server. The only data to be shared is the telephone number of the caller in order to match it up with the SMART911 customer database. 2. PROSPER shall take such measures as are necessary to protect the confidentiality of the telephone number data shared with the PROSPER SMART911 server and strictly comply with state and federal laws as well as rules and Program Policy Statements (PPS) adopted by the Texas Commission on State Emergency Communications (CSEC) with respect to the use of the data and the unauthorized disclosure of same. 3. PROSPER shall allow NCTCOG reasonable access upon request to all records maintained by PROSPER relating to its use of the PROSPER SMART911 server in order to assure compliance with state and federal laws and CSEC rules and PPSs as well as compliance with the ILA between the parties. 4. PROSPER will promptly notify NCTCOG should there be any modifications to the Rave Agreement including a termination of the agreement by either party. 5. Both parties shall have the right to terminate this amendment with or without cause upon thirty (30) days prior written notice. NCTCOG shall have the right to immediately terminate this amendment as well as all data sharing with the PROSPER SMART911 server should NCTCOG determine in its sole discretion that the operation of the PROSPER SMART911 server by PROSPER violates state or federal laws or CSEC rules and PPSs. 6. Except as otherwise modified herein, the terms and conditions of the ILA between the parties shall remain enforceable in accordance with their terms. In the event any term of this Amendment is deemed in conflict with a provision in the RAVE AGREEMENT, as determined by either PROSPER or NCTCOG, PROSPER will amend the RAVE AGREEMENT to eliminate the conflict. This Amendment is binding on, and to the benefit of, the parties herein named and their successors in interest. The Effective Date of this Amendment shall be the date of the last signature shown below. Item 4h DRAFT AMENDMENT Jan. 31, 2014 TOWN OF PROSPER, TEXAS NORTH CENTRAL TEXAS COUNCIL OF GOVERNMENTS ___________________________ _________________________ Town Manager Mike Eastland, Executive Director Date_______________________ Date_____________________ Item 4h Page 1 of 1 Prosper is a place where everyone matters. POLICE To: Mayor and Town Council From: Gary R. McHone, Assistant Chief of Police Through: Harlan Jefferson, Town Manager Re: Town Council Meeting – February 25, 2014 Agenda Item: Consider and act upon receiving the 2013 Racial Profiling Report as required by state law. Description of Agenda Item: The Racial Profiling Report is being presented to the Town Council before March 1, 2014. This is in accordance with the Texas Code of Criminal Procedure 2.131 - 2.138 and the report formatting was outlined by the Texas Commission on Law Enforcement (TCOLE). Each traffic stop that resulted in a citation or arrest was to be counted. Since the Prosper Police Department does use Mobile Vehicle Recorders, the information presented is denoted as Tier I Data. Attached Documents: 1. 2013 Racial Profiling Report Town Staff Recommendation: Staff recommends review of the document and acceptance as required by law. Proposed Motion: I make a motion to accept and receive the 2013 Racial Profiling Report. Item 4i Page 1 of 1 2013 Partial Exemption Racial Profiling Reporting Town of Prosper Police Department (Tier 1) TCOLE Recommended Form Number of motor vehicle stops: 1. 1418 – citation only 2. 14 – Arrest only 3. 13 – both citation and arrest 4. 1445 – Total Race or Ethnicity: 5. 111 African 6. 11 Asian 7. 1080 Caucasian 8. 233 Hispanic 9. 10 Middle Eastern 10. 0 Native American 11. 1445 – Total Race or Ethnicity known prior to stop? 12. 4 – Yes 13. 1441 – No 14. 1445 – Total Search conducted? 15. 22– Yes 16. 1423 – No 17. 1445 – Total Was search consented? 18. 12 – Yes 19. 10 – No 20. 22 – Total (must equal #15) In years past, comparison with the census data has been utilized; however, the growth of our jurisdiction has been so great that the census data is insufficient for comparison at this point. In previous reports, the number of all stops, inclusive of warnings, was used. With the new reporting mandates, only the number of traffic stops that resulted in either a citation or arrest is counted. Race is not a precursor for a traffic stop as denoted in the data set listed in #5 through #10. Race was not known prior to the traffic stop in a vast majority of the stops as noted in #12 and #13. This report will also be filed with TCOLE as mandated by law. Item 4i Page 1 of 1 To: Mayor and Town Council From: Gary R. McHone, Assistant Chief of Police Through: Harlan Jefferson, Town Manager Re: Town Council Meeting – February 25, 2014 Agenda Item: Discuss and act upon continuing the Juvenile Curfew Ordinance for juveniles under the age of 17 years. Description of Agenda Item: This item was discussed at the February 22, 2011, meeting and by law; the Ordinance must be revisited and passed every three years. The Town had passed an Ordinance establishing a curfew several years ago and the Ordinance must be revisited every three years or it will be automatically nullified. The last time this Ordinance was passed, the times were adjusted to meet the needs of the community by allowing less restrictive times that juveniles are allowed to be out. Based on municipal court records, the Police Department has issued 22 citations for violations of this Ordinance since February 2011 and also it has been used on numerous occasions to educate juveniles and their parents. This Ordinance is a good tool that has been used to make contact with juveniles who are found out late at night. Legal Obligations and Review: Terrence Welch of Brown & Hofmeister, L.L.P., prepared the attached Ordinance. Attached Documents: 1. Juvenile Curfew Ordinance Town Staff Recommendation: Staff recommends continuing this Ordinance as it will continue to provide the police with a tool to utilize in instances where juveniles are out after the curfew hours. Proposed Motion: I make a motion to continue the Juvenile Curfew Ordinance for juveniles under the age of 17 years. Prosper is a place where everyone matters. POLICE Item 4j TOWN OF PROSPER, TEXAS ORDINANCE NO. 14-__ AN ORDINANCE OF THE TOWN OF PROSPER, TEXAS, ADOPTING AND IMPLEMENTING A JUVENILE CURFEW; PROVIDING FOR DEFINITIONS, OFFENSES, DEFENSES TO PROSECUTION, ENFORCEMENT, SEVERABILITY AND SAVINGS/REPEALING CLAUSES, AND PENALTIES; PROVIDING AN EFFECTIVE DATE AND TERMINATION PROVISION; AND PROVIDING FOR THE PUBLICATION OF THE CAPTION HEREOF. WHEREAS, the Town Council of the Town of Prosper, Texas (“Town Council”), has investigated and determined that there has been an increase in juvenile violence and crime by persons under the age of seventeen in the Town of Prosper, Texas (“Prosper’’); and WHEREAS, the Town Council has further investigated and determined that passage of this Ordinance will promote the general welfare and protect the general public through the reduction of juvenile crime and violence within Prosper; and WHEREAS, the Town Council has further investigated and determined that persons under the age of seventeen are particularly susceptible by their lack of maturity and experience to participate in unlawful activities and to be victims of older perpetrators of crime; and WHEREAS, the Town Council, on behalf of Prosper and its citizens, has an obligation to provide for the protection of minors from each other and from other persons; for the enforcement of parental control over and responsibility for children; for the protection of the general public; and for the reduction of incidence of juvenile criminal activities; and WHEREAS, the Town Council has further investigated and determined that its goals in enacting this ordinance include, but are not limited to, the following: (1) reduce the number of juvenile crime victims; (2) reduce injury accidents involving juveniles; (3) allow for reduced time for officers related to juvenile crime activities and accidents; (4) provide a tool for dealing with gang activity; (5) reduce juvenile peer pressure to stay out late; and (6) assist parents in the control of their children; and WHEREAS, the Town Council has further investigated and determined that it is in the best interests of Prosper and its citizens to establish a curfew for those under the age of seventeen years, as set forth below, which will promote public health, safety and general welfare; help attain the foregoing objectives; and diminish the undesirable impact of such conduct on the citizens of Prosper; and WHEREAS, the Town’s previous juvenile curfew ordinance, codified in Article 8.04, “Curfew for Minors,” of Chapter 8, “Offenses and Nuisances,” of the Code of Ordinances of the Town of Prosper, Texas, has expired by its terms and as a consequence, this Ordinance is adopted due to such prior ordinance’s expiration by law. NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF PROSPER, TEXAS, THAT: Item 4j SECTION 1 All of the above findings are hereby found to be true and correct and are hereby incorporated into the body of this Ordinance as if fully set forth herein. SECTION 2 From and after the effective date of this Ordinance, Chapter 8, “Offenses and Nuisances,” of the Code of Ordinances of the Town of Prosper, Texas, is amended by adding a new Article 8.04, “Curfew for Minors,” to read as follows: “Sec. 8.04.001 Definitions For purposes of this article, the following terms shall apply: Curfew hours mean 11:00 p.m. on any Sunday, Monday, Tuesday, Wednesday, or Thursday until 6:00 a.m. of the following day; and 1:01 a.m. until 6:00 a.m. on any Saturday or Sunday. Emergency means an unforeseen combination of circumstances or the resulting state that calls for immediate action. The term shall include but not be limited to fire, natural disaster, and an automobile accident, or any situation requiring immediate action to prevent serious bodily injury or loss of life. Establishment means any privately-owned place of business operated for a profit to which the public is invited, including, but not limited to, any place of amusement or entertainment. Guardian means any person to whom custody of a juvenile has been given by a court. Juvenile means any person less than seventeen years of age. Operator means any individual, firm, association, partnership, or corporation operating, managing, or conducting an establishment. The term includes the members or partners of any association or partnership and the officers of the corporation. Parent means a person who is the natural or adoptive parent of a person, to include a court appointed guardian or other person eighteen years or older, authorized by the parent, by a court order, or by the court, or by the court appointed guardian to have the care and custody of a person. Public place means any place to which the public or a substantial group of the public has access and includes, but is not limited to, streets, highways, sidewalks, parks and the common areas of schools, hospitals, apartment houses, office buildings, transport facilities, and shops. Remain means to linger, stay, walk, run, stand, drive or ride; or fail to leave premises when requested to do so by a police officer or the owner, operator, or other person in control of the premises. Town means the Town of Prosper, Texas. Item 4j Sec. 8.04.002 Offenses (a) A juvenile commits an offense if the juvenile remains in any public place or on the premises of an establishment within the town during curfew hours. (b) A parent or guardian of a juvenile commits an offense if such person knowingly permits, or by insufficient control allows, the juvenile to purposefully remain, walk, run, stand, drive, or ride about in or upon any public place or on the premises of any establishment within the town during curfew hours. (c) The owner, operator, or any employee of an establishment within the town commits an offense if such person knowingly allows a juvenile to remain upon the premises of the establishment during curfew hours. Sec. 8.04.003 Defenses to prosecution (a) It is a defense to prosecution under section 8.04.002(a) that the juvenile was: (1) Accompanied by the juvenile’s parent or guardian; (2) On an errand at the direction of the juvenile’s parent or guardian, without any detour or stop; (3) In a motor vehicle involved in interstate travel; (4) Engaged in an employment activity, or going to or returning home from an employment activity, without any detour or stop; (5) Involved in an emergency; (6) On the sidewalk abutting the juvenile’s residence or abutting the residence of a next-door neighbor if the neighbor did not complain to the police department about the juvenile’s presence; (7) Attending an official school, religious, or other recreational activity supervised by adults and sponsored by the town; a civic organization, or another similar entity that takes responsibility for the juvenile, or going to or returning home from, without detour or stop, an official school, religious, or other recreational activity supervised by adults and sponsored by the town, a civic organization, or another similar entity that takes responsibility for the juvenile; (8) Exercising First Amendment rights protected by the United States Constitution; or (9) Married or had been married or had disabilities of minority removed in accordance with V.C.T.A., Family Code chapter 31, as amended. (b) It is a defense to prosecution under section 8.04.002(c) that the owner, operator, or employee of an establishment promptly notified the police department that a juvenile was present on the premises of the establishment during curfew hours and refused to leave. Item 4j Sec. 8.04.004 Enforcement Before taking any enforcement action under this article, a police officer shall ask the apparent offender’s age and reason for being in the public place. The officer shall not issue a citation or make an arrest under this article unless the officer reasonably believes that an offense has occurred and that based on any response and other circumstances, no defense in section 8.04.003 is present. Sec. 8.04.005 Penalties (a) A person who violates a provision of this article is guilty of a separate offense for each day or part of a day during which the violation is committed, continued, or permitted. Each offense, upon conviction, is punishable by a fine not to exceed five hundred dollars ($500.00). (b) When required by V.T.C.A., Family Code section 51.08, as amended, the municipal court shall waive original jurisdiction over a juvenile who violates section 8.04.002(a) of this article and shall refer the juvenile to juvenile court.” SECTION 3 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. The Town Council 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 4 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 portions of said ordinances shall remain in full force and effect. SECTION 5 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 6 This Ordinance shall become effective from and after its passage and publication and will expire three years from its effective date, unless sooner terminated or extended by ordinance. Item 4j DULY PASSED, APPROVED, AND ADOPTED BY THE TOWN COUNCIL OF THE TOWN OF PROSPER, TEXAS, ON THIS 25TH DAY OF FEBRUARY, 2014. ___________________________________ Ray Smith, Mayor ATTEST: ____________________________________ Robyn Battle, Town Secretary APPROVED AS TO FORM AND LEGALITY: ____________________________________ Terrence S. Welch, Town Attorney Item 4j Page 1 of 1 To: Mayor and Town Council From: Chris Copple, AICP, Director of Development Services Through: Harlan Jefferson, Town Manager Re: Town Council Meeting – February 25, 2014 Agenda Item: Consider and act upon an Ordinance rezoning 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: On February 11, 2014, the Town Council approved zoning case Z13-0009, by a vote of 6-1. Town staff has prepared an ordinance rezoning the property. Legal Obligations and Review: Zoning Ordinance 05-20 requires that the Town Council hold a public hearing before approving a zoning request and adopting an ordinance rezoning property. A public hearing has been held and the Town Council approved the zoning case. The attached ordinance is a standard format that was previously approved by the Town Attorney, Terrence Welch. Attached Documents: 1. Ordinance Town Staff Recommendation: Town staff recommends the Town Council adopt an ordinance rezoning 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 adopt an ordinance rezoning 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). Prosper is a place where everyone matters. PLANNING Item 4k TOWN OF PROSPER, TEXAS ORDINANCE NO. 14-__ AN ORDINANCE AMENDING PROSPER’S ZONING ORDINANCE NO. 05-20; REZONING A TRACT OF LAND CONSISTING OF 6.48 ACRE S, 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 AMENDED 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 James M. Zoller and Gail Lebovic (“Applicant”) to rezone 6.48 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 property containing 6.48 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 for this zoning classification is more particularly described in Exhibit “A” attached hereto and incorporated herein for all purposes as if set forth verbatim. Item 4k Ordinance No. 14-__, Page 2 The development plans, standards, and uses for the Property in this Planned Development District shall conform to, and comply with 1) the statement of intent and purpose, attached hereto as Exhibit “B”; 2) the planned development standards, attached hereto as Exhibit “C”; 3) the concept plan, attached hereto as Exhibit “D”; 4) and the development schedule, attached hereto as Exhibit “E”, 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 District shall be sent to all owners of properties within the District as well as all properties within two hundred feet (200’) of the District to be amended. SECTION 3 No Vested Interest/Repeal. No developer or property owner shall acquire any vested interest in this Ordinance or in any other specific regulations contained herein. Any portion of this Ordinance may be repealed by the Town Council in the manner provided for by law. SECTION 4 Unlawful Use of Premises. It shall be unlawful for any person, firm or corporation to make use of said premises in some manner other than as authorized by this Ordinance, and shall be unlawful for any person, firm or corporation to construct on said premises any building that is not in conformity with the permissible uses under this Zoning Ordinance. SECTION 5 Penalty. Any person, firm, corporation or business entity violating this Ordinance or any provision of Prosper’s Zoning Ordinance No. 05-20, or as amended, shall be deemed guilty of a misdemeanor, and upon conviction thereof shall be fined any sum not exceeding Two Thousand Dollars ($2,000.00). Each continuing day’s violation under this Ordinance shall constitute a separate offense. The penal provisions imposed under this Ordinance shall not preclude Prosper from filing suit to enjoin the violation. Prosper retains all legal rights and remedies available to it pursuant to local, state and federal law. Item 4k Ordinance No. 14-__, Page 3 SECTION 6 Severability. Should any section, subsection, sentence, clause or phrase of this Ordinance be declared unconstitutional or invalid by a court of competent jurisdiction, it is expressly provided that any and all remaining portions of this Ordinance shall remain in full force and effect. Prosper hereby declares that it would have passed this Ordinance, and each section, subsection, clause or phrase thereof irrespective of the fact that any one or more sections, subsections, sentences, clauses and phrases be declared unconstitutional or invalid. SECTION 7 Savings/Repealing Clause. Prosper’s Zoning Ordinance No. 05-20 shall remain in full force and effect, save and except as amended by this or any other Ordinance. All provisions of any ordinance in conflict with this Ordinance are hereby repealed to the extent they are in conflict; but such repeal shall not abate any pending prosecution for violation of the repealed ordinance, nor shall the appeal prevent a prosecution from being commenced for any violation if occurring prior to the repealing of the ordinance. Any remaining portions of said ordinances shall remain in full force and effect. SECTION 8 Effective Date. This Ordinance shall become effective from and after its adoption and publications as required by law. DULY PASSED, APPROVED, AND ADOPTED BY THE TOWN COUNCIL OF THE TOWN OF PROSPER, TEXAS, ON THIS 25TH DAY OF FEBRUARY, 2014. ______________________________ Ray Smith, Mayor ATTEST: _________________________________ Robyn Battle, Town Secretary APPROVED AS TO FORM AND LEGALITY: _________________________________ Terrence S. Welch, Town Attorney Item 4k Item 4k 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 4k 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 4k  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 4k Item 4k 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 4k Page 1 of 1 To: Mayor and Town Council From: Chris Copple, AICP, Director of Development Services Through: Harlan Jefferson, Town Manager Re: Town Council Meeting – February 25, 2014 Agenda Item: Consider and act upon an Ordinance amending 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: On February 11, 2014, the Town Council approved zoning case Z13-0019, by a vote of 6-1. Town staff has prepared an ordinance rezoning the property. Legal Obligations and Review: Zoning Ordinance 05-20 requires that the Town Council hold a public hearing before approving a zoning request and adopting an ordinance rezoning property. A public hearing has been held and the Town Council approved the zoning case. The attached ordinance is a standard format that was previously approved by the Town Attorney, Terrence Welch. Attached Documents: 1. Ordinance Town Staff Recommendation: Town staff recommends the Town Council adopt an ordinance amending 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 adopt an ordinance amending 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. Prosper is a place where everyone matters. PLANNING Item 4l TOWN OF PROSPER, TEXAS ORDINANCE NO. 14-__ AN ORDINANCE AMENDING PROSPER’S ZONING ORDINANCE NO. 05-20 AND ORDINANCE NO. 12-24; REZONING A TRACT OF LAND CONSISTING OF 6.60 ACRES, MORE OR LESS, SITUATED IN THE GEORGE HORN SURVEY, ABSTRACT NO. 412, IN THE TOWN OF PROSPER, COLLIN COUNTY, TEXAS, HERETOFORE ZONED PLANNED DEVELOPMENT-57- OFFICE (PD-57-O) IS HEREBY AMENDED; 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 Grace Academy of North Texas (“Applicant”) to rezone 6.60 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 Nos. 05-20 and 12-24. Zoning Ordinance No. 05-20 and No. 12-24 is amended as follows: The zoning designation of the property containing 6.60 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 amended as Planned Development-57-Office (PD- 57-O). The Property as a whole and for this zoning classification is more particularly described in Exhibit “A” attached hereto and incorporated herein for all purposes as if set forth verbatim. The development plans, standards, and uses for the Property in this Planned Development District shall conform to, and comply with 1) the statement of intent and purpose, Item 4l Ordinance No. 14-__, Page 2 attached hereto as Exhibit “B”; 2) the planned development standards, attached hereto as Exhibit “C”; 3) and the concept plan, attached hereto as Exhibit “D”, 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 District shall be sent to all owners of properties within the District as well as all properties within two hundred feet (200’) of the District to be amended. SECTION 3 No Vested Interest/Repeal. No developer or property owner shall acquire any vested interest in this Ordinance or in any other specific regulations contained herein. Any portion of this Ordinance may be repealed by the Town Council in the manner provided for by law. SECTION 4 Unlawful Use of Premises. It shall be unlawful for any person, firm or corporation to make use of said premises in some manner other than as authorized by this Ordinance, and shall be unlawful for any person, firm or corporation to construct on said premises any building that is not in conformity with the permissible uses under this Zoning Ordinance. SECTION 5 Penalty. Any person, firm, corporation or business entity violating this Ordinance or any provision of Prosper’s Zoning Ordinance No. 05-20, or as amended, shall be deemed guilty of a misdemeanor, and upon conviction thereof shall be fined any sum not exceeding Two Thousand Dollars ($2,000.00). Each continuing day’s violation under this Ordinance shall constitute a separate offense. The penal provisions imposed under this Ordinance shall not preclude Prosper from filing suit to enjoin the violation. Prosper retains all legal rights and remedies available to it pursuant to local, state and federal law. SECTION 6 Severability. Should any section, subsection, sentence, clause or phrase of this Ordinance be declared unconstitutional or invalid by a court of competent jurisdiction, it is expressly provided that any and all remaining portions of this Ordinance shall remain in full force Item 4l Ordinance No. 14-__, Page 3 and effect. Prosper hereby declares that it would have passed this Ordinance, and each section, subsection, clause or phrase thereof irrespective of the fact that any one or more sections, subsections, sentences, clauses and phrases be declared unconstitutional or invalid. SECTION 7 Savings/Repealing Clause. Prosper’s Zoning Ordinance No. 05-20 shall remain in full force and effect, save and except as amended by this or any other Ordinance. All provisions of any ordinance in conflict with this Ordinance are hereby repealed to the extent they are in conflict; but such repeal shall not abate any pending prosecution for violation of the repealed ordinance, nor shall the appeal prevent a prosecution from being commenced for any violation if occurring prior to the repealing of the ordinance. Any remaining portions of said ordinances shall remain in full force and effect. SECTION 8 Effective Date. This Ordinance shall become effective from and after its adoption and publications as required by law. DULY PASSED, APPROVED, AND ADOPTED BY THE TOWN COUNCIL OF THE TOWN OF PROSPER, TEXAS, ON THIS 25TH DAY OF FEBRUARY, 2014. ______________________________ Ray Smith, Mayor ATTEST: _________________________________ Robyn Battle, Town Secretary APPROVED AS TO FORM AND LEGALITY: _________________________________ Terrence S. Welch, Town Attorney Item 4l Item 4l 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 4l 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 4l 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 4l Item 4l 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 25, 2014 Agenda Item: Conduct a Public Hearing, and consider and act upon a request to rezone 0.7± acre from Single Family-15 (SF-15) to Downtown Single Family (DTSF), located on the north side of Third Street, 200± feet west of Church Street (309 E. Third Street). (Z14-0001). 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 Single Family-15 Single Family Residential Old Town Core District – Single Family North Single Family-15 Single Family Residential Old Town Core District – Office East Single Family-15 Single Family Residential Old Town Core District – Single Family South Single Family-15 Single Family Residential Old Town Core District – Single Family West Single Family-15 Single Family Residential Old Town Core District – Single Family Requested Zoning – Z14-0001 is a request to rezone 0.7± acre, located on the north side of Third Street, 200± feet west of Church Street (309 E. Third Street) from Single Family-15 (SF- 15) to Downtown Single Family (DTSF). Future Land Use Plan – The Future Land Use Plan (FLUP) recommends Old Town Core District – Single Family for the property. The zoning request conforms to the FLUP. Thoroughfare Plan – The property is not adjacent to any future thoroughfares. Prosper is a place where everyone matters. PLANNING Item 6 Page 2 of 2 Water and Sanitary Sewer Services – Water and sanitary sewer service have been extended to the property. Access – Access to the property will be provided from Third Street. Schools – This property is located within the Prosper Independent School District (PISD). It is not anticipated that a school site will be needed on this property. 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 not received any public hearing notice reply forms. Attached Documents: 1. Zoning Exhibit A 2. Zoning map of the surrounding area 3. Future Land Use Plan - Old Town Core District Inset Planning & Zoning Commission Recommendation: At their February 4, 2014, meeting, the Planning & Zoning Commission recommended the Town Council approve a request to rezone 0.7± acre from Single Family-15 (SF-15) to Downtown Single Family (DTSF), located on the north side of Third Street, 200± feet west of Church Street (309 E. Third Street), by a vote of 6-0. Town Staff Recommendation: Town staff recommends the Town Council approve a request to rezone 0.7± acre from Single Family-15 (SF-15) to Downtown Single Family (DTSF), located on the north side of Third Street, 200± feet west of Church Street (309 E. Third Street). Proposed Motion: I move to approve the request to rezone 0.7± acre from Single Family-15 (SF-15) to Downtown Single Family (DTSF), located on the north side of Third Street, 200± feet west of Church Street (309 E. Third Street). Item 6 Item 6 Z14-0001SF-15 DTO SF-15 DTO CDTR C C R C DTO DTO DTO DTO DTO DTO DTSF DTR DTO SF-15 DTOPD-45 DTOS-3 E FIRST STS COLEMAN STN COLEMAN STW FIRST ST E THIRD ST E BROADWAY ST E SECOND ST S CHURCH STFIELD STE FIFTH ST S PARVIN STN PARVIN STN CHURCH STW SECOND ST FIELD STE FIFTH ST ±0 100 200 300 Feet 1 inch = 200 feet Item 6 Old Town Transportation Plan Section A: Four lane divided roadway with a landscaped median and a landscaped parkway separating pedestrians from traffic. This section serves as a major entrance into Old Town from the east. No on-street parking. Section B: Two lane divided boulevard with a large center median containing landscaping. Wide travel lanes allow for bicycle accommodation and a landscaped parkway separates pedestrians from traffic. No on-street parking. Section C: Two lane divided boulevard with a large center median containing landscaping. On-street parallel parking is permitted and a landscaped parkway separates pedestrians from traffic. Section D: Two lane undivided urban roadway. Wide 20’ sidewalks accommodate patio seating, pedestrian traffic and street trees. On-street angled parking is permitted and bulb-outs are located at intersections to enhance pedestrian visibility at crosswalks. Section E: Two lane undivided roadway with on-street parallel parking and an immediately adjacent 8’ sidewalk. A large private setback of 25’ is included. Section F: Two lane undivided roadway with on-street parallel parking and a 15’ sidewalk. 10’ of the sidewalk will be located within the right-of-way and the additional 5 feet will be a 5’ setback to building face. Section G: Two lane divided roadway with a center median containing landscaping. On-street parallel parking and a 10’ sidewalk are included. Land Use The predominant land use within Old Town will be single-family residential. All infill development within such areas should conform to the architectural guidelines established for the Old Town district. Such guidelines are created to protect the continuity of look and feel within Old Town. Along Broadway and First Street, single-family uses will gradually transition to boutique, cottage-style office and/or specialty retail uses. Broadway west of Coleman, will be the retail core of the downtown. Shops, restaurants, and small office uses may be located within the main street retail area. This area is intended to be the heart and main activity center of the Old Town Area. As redevelopment occurs, building frontages should be brought to the property line to be consistent with ultimate streetscape improvements. Adjacent to the retail core, a mixed-use district incorporating mixed use lofts/apartments will serve as a buffer between the Business Park and the core of Old Town. This area will also provide rooftops that service adjacent retail establishments. The Green space area will serve as a community park and its location adjacent to the retail core of Old Town and the mixed-use district will make it an opportunistic and useable open space area. Niche retail is recommended along Preston Road and at the northern end of Coleman. Retail development within these areas should fit within the architectural framework of the Old Town area. Setbacks should be reduced, when possible, along Coleman and Broadway to frame the roadways. Item 6 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 25, 2014 Agenda Item: Conduct a Public Hearing, and consider and act upon a request to rezone 0.3± acre from Single Family-15 (SF-15) to Downtown Retail (DTR), located on the west side of Coleman Street, 100± feet south of Fifth Street. (Z14-0002). 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 Single Family-15 Undeveloped Land Old Town Core District – Main Street Retail North Downtown Retail Automobile Repair (Qwik Oil and Auto Care) Old Town Core District – Main Street Retail East Retail and Single Family-15 Convenience Store (Highland Foods) Old Town Core District – Office South Downtown Retail Retail and Service (Yubi Fast Refund, Glasstech, and Virtus) Al Old Town Core District – Main Street Retail West Single Family-15 Single Family Residential Old Town Core District – Main Street Retail Requested Zoning – Z14-0002 is a request to rezone 0.3± acre, located on the west side of Coleman Street, 100± feet south of Fifth Street from Single Family-15 (SF-15) to Downtown Retail (DTR). Future Land Use Plan – The Future Land Use Plan (FLUP) recommends Old Town Core District – Main Street Retail for the property. The zoning request conforms to the FLUP. Prosper is a place where everyone matters. PLANNING Item 7 Page 2 of 2 Thoroughfare Plan – The property is adjacent to Coleman Street. The alignment of future Coleman Street, including any additional right-of-way dedication, will be determined at the time of final plat. Water and Sanitary Sewer Services – Water and sanitary sewer service have been extended to the property. Access – Access to the property will be provided from Coleman Street. Schools – This property is located within the Prosper Independent School District (PISD). It is not anticipated that a school site will be needed on this property. 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; not in opposition to the request. Attached Documents: 1. Zoning Exhibit A 2. Zoning map of the surrounding area 3. Future Land Use Plan - Old Town Core District Inset 4. Public hearing notice reply forms Planning & Zoning Commission Recommendation: At their February 4, 2014, meeting, the Planning and Zoning Commission recommended the Town Council approve a request to request to rezone 0.3± acre from Single Family-15 (SF-15) to Downtown Retail (DTR), located on the west side of Coleman Street, 100± feet south of Fifth Street. Town Staff Recommendation: Town staff recommends the Town Council approve a request to request to rezone 0.3± acre from Single Family-15 (SF-15) to Downtown Retail (DTR), located on the west side of Coleman Street, 100± feet south of Fifth Street. Proposed Motion: I move to approve the request to request to rezone 0.3± acre from Single Family-15 (SF-15) to Downtown Retail (DTR), located on the west side of Coleman Street, 100± feet south of Fifth Street. Item 7 Item 7 Z14-0002 SF-15 DTR C SF-15 DTO R DTO DTO C DTR SF-15 C DTOPD-45N COLEMAN STS COLEMAN STN MAIN STW FIFTH ST E FIFTH ST W BROADWAY ST E BROADWAY ST S MAIN ST±0 50 100 150 Feet 1 inch = 100 feet Item 7 Old Town Transportation Plan Section A: Four lane divided roadway with a landscaped median and a landscaped parkway separating pedestrians from traffic. This section serves as a major entrance into Old Town from the east. No on-street parking. Section B: Two lane divided boulevard with a large center median containing landscaping. Wide travel lanes allow for bicycle accommodation and a landscaped parkway separates pedestrians from traffic. No on-street parking. Section C: Two lane divided boulevard with a large center median containing landscaping. On-street parallel parking is permitted and a landscaped parkway separates pedestrians from traffic. Section D: Two lane undivided urban roadway. Wide 20’ sidewalks accommodate patio seating, pedestrian traffic and street trees. On-street angled parking is permitted and bulb-outs are located at intersections to enhance pedestrian visibility at crosswalks. Section E: Two lane undivided roadway with on-street parallel parking and an immediately adjacent 8’ sidewalk. A large private setback of 25’ is included. Section F: Two lane undivided roadway with on-street parallel parking and a 15’ sidewalk. 10’ of the sidewalk will be located within the right-of-way and the additional 5 feet will be a 5’ setback to building face. Section G: Two lane divided roadway with a center median containing landscaping. On-street parallel parking and a 10’ sidewalk are included. Land Use The predominant land use within Old Town will be single-family residential. All infill development within such areas should conform to the architectural guidelines established for the Old Town district. Such guidelines are created to protect the continuity of look and feel within Old Town. Along Broadway and First Street, single-family uses will gradually transition to boutique, cottage-style office and/or specialty retail uses. Broadway west of Coleman, will be the retail core of the downtown. Shops, restaurants, and small office uses may be located within the main street retail area. This area is intended to be the heart and main activity center of the Old Town Area. As redevelopment occurs, building frontages should be brought to the property line to be consistent with ultimate streetscape improvements. Adjacent to the retail core, a mixed-use district incorporating mixed use lofts/apartments will serve as a buffer between the Business Park and the core of Old Town. This area will also provide rooftops that service adjacent retail establishments. The Green space area will serve as a community park and its location adjacent to the retail core of Old Town and the mixed-use district will make it an opportunistic and useable open space area. Niche retail is recommended along Preston Road and at the northern end of Coleman. Retail development within these areas should fit within the architectural framework of the Old Town area. Setbacks should be reduced, when possible, along Coleman and Broadway to frame the roadways. Item 7 Item 7 Item 7 Item 7 Item 7 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 25, 2014 Agenda Item: Conduct a Public Hearing, and consider and act upon a request to rezone 0.4± acre from Single Family-15 (SF-15) to Downtown Office (DTO), located on the northwest corner of Craig Road and First Street (713 E. First Street). (Z14-0003). 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 Single Family-15 Office and Single Family Residential Old Town Core District – Office North Single Family-15 Single Family Residential Old Town Core District – Single Family East Planned Development-17- Office Bank (Prosper State Bank) Old Town Core District – Office South Downtown Office Undeveloped Land Old Town Core District – Office West Single Family-15 Single Family Residential Old Town Core District – Office Requested Zoning – Z14-0003 is a request to rezone 0.4± acre, located on the northwest corner of Craig Road and First Street (713 E. First Street) from Single Family-15 (SF-15) to Downtown Office (DTO). Future Land Use Plan – The Future Land Use Plan (FLUP) recommends Old Town Core District - Office for the property. The zoning request conforms to the FLUP. Prosper is a place where everyone matters. PLANNING Item 8 Page 2 of 2 Thoroughfare Plan – The property is adjacent to Craig Road and First Street. The alignment of future Craig Road and First Street, including any additional right-of-way dedication, will be determined at the time of final plat. Water and Sanitary Sewer Services – Water and sanitary sewer service have been extended to the property. Access – Access to the property will be provided from Craig Road and First Street. Schools – This property is located within the Prosper Independent School District (PISD). It is not anticipated that a school site will be needed on this property. 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 three public hearing notice reply forms; not in opposition to the request. Attached Documents: 1. Zoning Exhibit A 2. Zoning map of the surrounding area 3. Future Land Use Plan - Old Town Core District Inset 4. Public hearing notice reply form Planning & Zoning Commission Recommendation: At their February 4, 2014, meeting, the Planning & Zoning Commission recommended the Town Council approve a request to rezone 0.4± acre from Single Family-15 (SF-15) to Downtown Office (DTO), located on the northwest corner of Craig Road and First Street (713 E. First Street), by a vote of 6-0. Town Staff Recommendation: Town staff recommends the Town Council approve a request to rezone 0.4± acre from Single Family-15 (SF-15) to Downtown Office (DTO), located on the northwest corner of Craig Road and First Street (713 E. First Street). Proposed Motion: I move to approve the request to rezone 0.4± acre from Single Family-15 (SF-15) to Downtown Office (DTO), located on the northwest corner of Craig Road and First Street (713 E. First Street). Item 8 Item 8 Z14-0003 SF-15 SF-15 SF-15 DTOSF-15DTO DTODTO DTO DTO DTO SF-15 RPD-17 RPD-3 R/C/OPD-3 CPD-7OPD-17 E FIRST ST S PRESTON RDS CRAIG RDLANE STE THIRD ST FIELD STFIELD ST±0 100 200 300 Feet 1 inch = 200 feet Item 8 Old Town Transportation Plan Section A: Four lane divided roadway with a landscaped median and a landscaped parkway separating pedestrians from traffic. This section serves as a major entrance into Old Town from the east. No on-street parking. Section B: Two lane divided boulevard with a large center median containing landscaping. Wide travel lanes allow for bicycle accommodation and a landscaped parkway separates pedestrians from traffic. No on-street parking. Section C: Two lane divided boulevard with a large center median containing landscaping. On-street parallel parking is permitted and a landscaped parkway separates pedestrians from traffic. Section D: Two lane undivided urban roadway. Wide 20’ sidewalks accommodate patio seating, pedestrian traffic and street trees. On-street angled parking is permitted and bulb-outs are located at intersections to enhance pedestrian visibility at crosswalks. Section E: Two lane undivided roadway with on-street parallel parking and an immediately adjacent 8’ sidewalk. A large private setback of 25’ is included. Section F: Two lane undivided roadway with on-street parallel parking and a 15’ sidewalk. 10’ of the sidewalk will be located within the right-of-way and the additional 5 feet will be a 5’ setback to building face. Section G: Two lane divided roadway with a center median containing landscaping. On-street parallel parking and a 10’ sidewalk are included. Land Use The predominant land use within Old Town will be single-family residential. All infill development within such areas should conform to the architectural guidelines established for the Old Town district. Such guidelines are created to protect the continuity of look and feel within Old Town. Along Broadway and First Street, single-family uses will gradually transition to boutique, cottage-style office and/or specialty retail uses. Broadway west of Coleman, will be the retail core of the downtown. Shops, restaurants, and small office uses may be located within the main street retail area. This area is intended to be the heart and main activity center of the Old Town Area. As redevelopment occurs, building frontages should be brought to the property line to be consistent with ultimate streetscape improvements. Adjacent to the retail core, a mixed-use district incorporating mixed use lofts/apartments will serve as a buffer between the Business Park and the core of Old Town. This area will also provide rooftops that service adjacent retail establishments. The Green space area will serve as a community park and its location adjacent to the retail core of Old Town and the mixed-use district will make it an opportunistic and useable open space area. Niche retail is recommended along Preston Road and at the northern end of Coleman. Retail development within these areas should fit within the architectural framework of the Old Town area. Setbacks should be reduced, when possible, along Coleman and Broadway to frame the roadways. Item 8 Item 8 Item 8 Item 8 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 25, 2014 Agenda Item: Consider and act upon authorizing the Town Manager to enter into an Alternative Funding Procedure Agreement between the Town of Prosper and the Upper Trinity Regional Water District (UTRWD). Description of Agenda Item: The Town is one of four customers of UTRWD’s planned Doe Branch wastewater treatment plant. The Town’s share of the plant is approximately $16 million. The Town’s Participant Member Contract with UTRWD, dated December 4, 2007, generally assumes that UTRWD will issue revenue bonds to finance the Doe Branch plant, but provides the Town the right to use an “alternative funding procedure” that requires the Town to make an up-front payment (with cash or bond proceeds) to fund its share of the permitting, design, land acquisition, construction, project management and overhead costs of the plant. To satisfy statutory requirements for the issuance of certificates of obligation to acquire capacity in a sewage treatment plant, and to clarify and detail the alternate funding procedure, the Town and District must enter into this agreement which supplements the 2007 contract. By financing its participation apart from UTRWD, the Town expects to save approximately $1 million (the Town’s Combination Tax and Surplus Revenue Certificates of Obligation, Series 2014). Budget Impact: The agreement allows the Town to pay for its share of the Doe Branch wastewater treatment plant by issuing its own debt, supplemented by cash reserves. Legal Obligations and Review: Dan Culver, with McCall, Parkhurst & Horton L.L.P., serves as the Town’s Bond Counsel and has written the agreement. Attached Documents: 1. Alternative Funding Procedure Agreement Town Staff Recommendation: Town staff recommends approval of the Agreement. Prosper is a place where everyone matters. FINANCE Item 9 Page 2 of 2 Proposed Motion: I move to authorize the Town Manager to enter into an Alternative Funding Procedure Agreement with the Upper Trinity Regional Water District. Item 9 #4478816.5 Page 1 of 8 UPPER TRINITY REGIONAL WATER DISTRICT NORTHEAST REGIONAL WATER RECLAMATION SYSTEM ALTERNATIVE FUNDING PROCEDURE AGREEMENT WITH THE TOWN OF PROSPER, TEXAS THE STATE OF TEXAS § § COUNTY OF DENTON § This AGREEMENT (the “Agreement”) is made and entered into this 6th day of March, 2014, by and between the UPPER TRINITY REGIONAL WATER DISTRICT (the “District”) and the TOWN OF PROSPER, TEXAS (“Prosper”) to clarify the Alternative Funding Procedure contained in the Participating Member Contract for the District’s Northeast Water Reclamation System between the District and Prosper, which contract is dated December 4, 2007 (the “Contract”). WITNESSETH: WHEREAS, Prosper is a home rule municipality operating under the Constitution and laws of the State of Texas; and WHEREAS, Prosper is a Participating Member in the District’s Northeast Regional Water Reclamation System (the “System”) and has contracted with the District for treatment of a portion of its wastewater at the District’s planned Doe Branch Water Reclamation Plant (“Plant”); and WHEREAS, Prosper and other participating entities have requested the District to provide wastewater service in the Doe Branch basin, which service will require construction of the Plant and related facilities, pipeline, metering facilities and associated improvements with an expected initial treatment capacity for wastewater of approximately 2.0 MGD (the “Initial Plant Capacity”); which Plant, together with the Doe Branch trunk line and other related facilities and improvements, are defined in the Contract as “Project”; all of which are a part of the System; and WHEREAS, the Contract provides for Prosper’s share of the Initial Plant Capacity to be 1.0 MGD, based on average flow; and WHEREAS, the District proposes to begin construction of the Plant in the first half of 2014; and WHEREAS, the Contract provides for the District to provide construction funding for the Plant on behalf of all participants in the Plant, subject to an “Alternative Funding Procedure” Item 9 #4478816.5 Page 2 of 8 whereby Prosper may elect to provide a portion or all of its share of the capital cost of the Plant as an up-front payment; and WHEREAS, Prosper has notified the District that it has elected to use the Alternative Funding Procedure as provided in the Contract to fund its share of the cost of permitting, design, land acquisition, construction, project management and overhead costs not previously funded by Prosper (the “Project Costs”) with respect to the Initial Plant Capacity; and WHEREAS, Prosper has further notified the District that it intends to issue certificates of obligation (the “Town’s Certificates”) to fund a portion of its share of the Initial Plant Capacity in the manner specified in Section 271.045(c) - (e) of the Texas Local Government Code, with any part of its share not funded with certificates of obligation to be paid from other lawfully available funds; and WHEREAS, the parties hereto desire to enter into this Agreement to clarify the Alternative Funding Procedure in a manner sufficient to satisfy the requirements of Section 271.045(c) – (e) of the Texas Local Government Code, to permit Prosper to utilize certificates of obligation to fund its share of the Initial Plant Capacity; and WHEREAS, pursuant to the Contract, Prosper is responsible for its pro rata share of the common-to-all costs of the Plant and the Project, including approximately 0.1 MGD of the Initial Plant Capacity that is not currently contracted for or subscribed by any of the participants in the System, and for other common-to-all costs covered by the Contract (the “Common Costs”); and WHEREAS, the District and Prosper are authorized to enter into this Agreement pursuant to the Act (as defined in the Contract) and Chapter 791 of the Texas Government Code, and other applicable laws. NOW, THEREFORE, the District and Prosper agree as follows: 1. Incorporation of Preambles. The findings contained in the preambles to this Agreement are incorporated herein and made a part hereof for all purposes. 2. Defined Terms. Capitalized terms used herein shall have the meanings provided for such terms herein, or, if not defined herein, shall have the meanings provided for such terms in the Contract. 3. Provisions of the Contract Prevail. If there is any conflict between the provisions of this Agreement and the provisions of the Contract, the provisions of the Contract shall prevail. 4. Project Costs. As one element of Project costs, the District intends to pursue the construction of the Plant in accordance with a construction manager at risk procurement process, as provided in Subchapter F of Chapter 2267 of the Texas Government Code. Based on such procurement process, the District has or expects to enter into a contract for guaranteed maximum Item 9 #4478816.5 Page 3 of 8 price for the construction of the Plant, subject to potential changes in the scope of the construction that may be determined by the District to be required for the completion of the Plant (“Change Orders”). A preliminary estimate of the Project Costs, including the construction of the Plant, is attached hereto as Exhibit A. For the line item “Engineering & Inspection (Staff)” in Exhibit A, the District will provide time and charges on a quarterly basis during the course of construction and for the line item “Project Management and Overhead” in Exhibit A, the District will provide actual expenses on a fiscal year basis during the course of construction and a reconciliation of both items at the time of settle-up pursuant to Section 9 hereof. To the extent practicable, the District, at least 30 days prior to approval of any proposed Change Orders, shall provide to Prosper copies of such Change Orders which would increase costs above the guaranteed maximum price of the construction contract for the Plant. 5. Prosper Capacity in Plant. Upon payment of all costs provided by this Agreement and by the Contract, including its share of the Project Costs under the Alternative Funding Procedure, which shall be one-half (1/2) of the actual Project Costs (the “Prosper Share”), Prosper shall have capacity rights in the Plant as set forth in the Contract. On a timely basis, the District will give notice to Prosper of the amount of the Prosper Share and the time for said amount to be deposited. The amount of capacity for which Prosper has contracted in the Initial Plant Capacity is an average flow of 1.0 mgd as set forth in Exhibit B of the Contract, which amount is subject to change from time to time by mutual agreement pursuant to the Contract to provide for the future requirements of Prosper for adequate wastewater treatment capacity in the Plant. For so long as the Contract is maintained current by the terms thereof and for so long as Prosper is in material compliance with the Contract, Prosper shall have the right to utilize said treatment capacity at the Plant for the term of the Contract as provided in Section 5.02 thereof (the “Prosper Use Rights”); and further, it is the intent of the parties that, subject to said Contract being maintained current, Prosper shall have the Prosper Use Rights during the useful life of the assets funded by Prosper with the Town’s Certificates. Prosper and the District agree and understand that to maintain said Prosper Use Rights, Prosper shall be obligated to pay its share of cost for future capital improvements and for cost of operation and maintenance related thereto to fulfill or comply with regulatory requirements and to keep all facilities of the Plant and System in proper condition and working order. 6. Prepayment of Capital Cost. The Prosper Share to be deposited with the District shall be applied toward Prosper’s obligations under the Contract. Subject to any subsequent Change Orders approved by District and subject to the settle-up procedure at the end of Project construction, it is hereby agreed that upon the deposit of the Prosper Share with the District in accordance with Section 7 of this Agreement, Prosper shall have prepaid and therefore fully discharged its responsibility for the Capital Cost component of the Annual Requirement with respect to the Prosper Share of Initial Plant Capacity, not including future capital improvements and such portion of the Annual Requirement related to Common Costs, as provided in the Contract. Other than with respect to Common Costs and future capital improvements, Prosper shall not be billed, nor shall it be obligated to make payment to the District, for any costs incurred by the District in connection with the issuance of District bonds for the Initial Plant Capacity, including, without limitation, to fund any part of a debt service reserve account, Item 9 #4478816.5 Page 4 of 8 arbitrage rebate account, interest and sinking fund or costs of issuance. In addition, as provided in the Contract (Exhibit D, Paragraph 20(c)), upon the deposit of the Prosper Share with the District, Prosper shall no longer be obligated to pay Building Activity Fees to the District for the Initial Plant Capacity. While Prosper shall have no obligation to pay such Building Activity Fees, it may, in its sole discretion, collect such Building Activity Fees and make payment thereof to the District. In such event, the District will apply the funds so received from Prosper to the cost of future capital improvements owed by Prosper for the Project or System in accordance with the Contract. The collection and payment of any such Building Activity Fees by Prosper under the Contract shall not impair or limit Prosper’s ability to impose additional rates, charges or other fees for development within Prosper as authorized by law. Notwithstanding the foregoing, no provision of this Agreement shall change the obligation of Prosper or any other participant in the System under the Contract, including specifically Sections 3.09 and 4.10 thereof, to pay the redetermined percentage of the Annual Requirement, including such portion of the Annual Requirement related to the District bonds issued for the Initial Plant Capacity, in the event any Customer becomes delinquent in payments to the District. 7. Deposit of Prosper Share. Prosper shall deposit an amount equal to the Prosper Share with the District on or before March 27, 2014 or such later date as notified by the District. The District shall invest such funds according to the investment policy of the District. Prosper shall have no responsibility for the loss of any value relating to the investment of the funds so deposited with the District. Funds deposited by Prosper shall be applied by the District to pay costs of the Project during the course of construction on a pro rata basis with the proceeds of District bonds and other available funds. 8. Additional Costs. In the event that Change Orders are determined by the District to be necessary with respect to the Plant or the Project Costs, and if the Change Orders propose to increase the Prosper Share (the “Prosper Additional Cost”), Prosper agrees to arrange for Prosper Additional Cost to be paid on a timely basis as determined by District. Prosper may elect to fund the Prosper Additional Cost in any one or more of the following ways: (1) by allocating Investment Income, if any; (2) by funding such cost from any lawfully available funds of Prosper under the Alternative Funding Procedure in the Contract; or (3) by requesting the District to advance funds to Prosper to cover the Prosper Additional Cost. However, the District shall not be obligated to advance funds to Prosper to cover the Prosper Additional Cost. Any amounts deposited by Prosper with the District in satisfaction of the obligation to fund the Prosper Additional Cost shall be administered and invested in the manner provided in Section 7 of this Agreement with respect to the Prosper Share. In the event that Prosper requests the District to advance funds to cover all or part of the Prosper Additional Cost, and the District agrees to advance funds for that purpose, Prosper will be obligated to pay the appropriate portion of the Annual Requirement related thereto, as provided in the Contract. 9. Settle-Up. Upon completion of the Plant, and subject to the provisions of Section 8 hereof, the District shall rebate to Prosper any excess amount that exceeds the cost of the Project on a pro rata basis, and such rebate shall include investment earnings, if any, attributable to the Item 9 #4478816.5 Page 5 of 8 funds deposited by Prosper (the “Investment Income”). In like manner, if there should be a shortfall in payment(s) made by Prosper for its share of Project costs, Prosper agrees to make prompt supplemental payment thereof upon notice from District. 10. Supplemental Agreement. This Agreement clarifies the Alternative Funding Procedure pursuant to the Contract with respect to the matters provided herein. All provisions of the Contract shall remain fully applicable to the parties hereto. 11. Severability. The parties hereto specifically agree that in case any one or more of the sections, provisions, clauses or words of this Agreement or the application of such sections, provisions, clauses or words to any situation or circumstance should be, or should be held to be, for any reason, invalid or unconstitutional, under the laws or constitutions of the State or the United States of America, or in contravention of any such laws or constitutions, such invalidity, unconstitutionality or contravention shall not affect any other sections, provisions, clauses or words of this Agreement or the application of such sections, provisions, clauses or words to any other situation or circumstance, and it is intended that this Agreement shall be severable and shall be construed and applied as if any such invalid or unconstitutional section, provision, clause or word had not been included herein, and the rights and obligations of the parties hereto shall be construed and remain in force accordingly. [Signature pages follow]. Item 9 #4478816.5 Page 6 of 8 IN WITNESS WHEREOF, the parties hereto acting under authority of their respective governing bodies have caused this Agreement to be duly executed in several counterparts, each of which shall constitute an original, effective as of the day and year first above written. UPPER TRINITY REGIONAL WATER DISTRICT ______________________________________ President, Board of Directors ATTEST: __________________________________________ Secretary, Board of Directors [District Seal] APPROVED AS TO FORM AND LEGALITY: ___________________________________________ Counsel for the District Item 9 #4478816.5 TOWN OF PROSPER, TEXAS __________________________________________ Mayor ATTEST: __________________________________________ Town Secretary [Town Seal] APPROVED AS TO FORM AND LEGALITY: ___________________________________________ Counsel for the Town Item 9 #4478816.5 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 25, 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. The attached analysis shows that the Town will save nearly $1 million by providing its own funding, known as the alternate funding procedure, instead of relying on UTRWD to finance Prosper’s share. 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. A separate budget amendment ordinance is included on the agenda that would increase the Sewer Department budget by $3 million to fund this share. Budget Impact: If the Certificates of Obligation are approved, debt service payments would begin, totaling approximately $251,334 in FY 2014 and $982,669 in FY 2015. These amounts would be integrated into the Town’s sewer rates. Consultants for the Town project a sewer increase of 5.4% would be needed. 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. Comparison of Financings to Provide $13 Million in Project Proceeds Prosper is a place where everyone matters. FINANCE Item 10 Page 2 of 2 2. Ordinance authorizing the issuance and sale of Town of Prosper, Texas, Combination Tax and Surplus Revenue Certificates of Obligation, Series 2014. Town Staff Recommendation: Staff recommends adoption of 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. Proposed Motion: I move to approve an ordinance authorizing the issuance of the Town’s 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. Item 10 Town of ProsperComparison of Financings to Provide $13 Million in Project ProceedsABCDEFGHIFiscalYear LESS:DifferenceEnd Principal Interest DSRF Total P+I Principal Interest Total P+I(E‐H)2014‐$ #214,731$ ‐$ 214,731$ ‐$ #192,377$ 192,377$ 22,354$ 2015 530,000 #533,125 ‐ 1,063,125 485,000 #477,625 962,625 100,500 2016540,000 #521,200 ‐ 1,061,200 495,000 #466,713 961,713 99,488 2017555,000 #509,050 ‐ 1,064,050 505,000 #455,575 960,575 103,475 2018565,000 #496,563 ‐ 1,061,563 520,000 #444,213 964,213 97,350 2019580,000 #483,850 ‐ 1,063,850 530,000 #432,513 962,513 101,338 2020590,000 #470,800 ‐ 1,060,800 545,000 #420,588 965,588 95,213 2021605,000 #455,313 ‐ 1,060,313 555,000 #406,963 961,963 98,350 2022625,000 #437,163 ‐ 1,062,163 570,000 #391,006 961,006 101,156 2023645,000 #416,069 ‐ 1,061,069 590,000 #372,481 962,481 98,588 2024670,000 #393,494 ‐ 1,063,494 610,000 #351,831 961,831 101,663 2025695,000 #368,369 ‐ 1,063,369 635,000 #329,719 964,719 98,650 2026725,000 #338,831 ‐ 1,063,831 660,000 #302,731 962,731 101,100 2027755,000 #308,019 ‐ 1,063,019 690,000 #274,681 964,681 98,338 2028785,000 #275,931 ‐ 1,060,931 720,000 #245,356 965,356 95,575 2029820,000 #242,569 ‐ 1,062,569 750,000 #214,756 964,756 97,813 2030855,000 #207,719 ‐ 1,062,719 780,000 #182,881 962,881 99,838 2031890,000 #171,381 ‐ 1,061,381 815,000 #149,731 964,731 96,650 2032930,000 #132,444 ‐ 1,062,444 850,000 #115,094 965,094 97,350 2033970,000 #90,594 ‐ 1,060,594 885,000 #78,969 963,969 96,625 2034 1,015,000 #46,944 (1,051,776) 10,168 920,000 #40,250 960,250 (950,082) 14,345,000$ 7,114,156$ (1,051,776)$ 20,407,380$ 13,110,000$ 6,346,052$ 19,456,052$ 951,328$ (2) Provides $13.0 million in project proceeds. Based on "Aa2/AA" estimated interest rates as of 2.18.14 + 0.25%. Preliminary, subject to change.Issuance of Contract Revenue Bonds through UTRWD (1)Issuance of Town Certificates of Obligation (2)(1) Provides $13.0 million in project proceeds. Based on BAM insured, "Baa1/BBB+" underlying estimated interest rates as of 2.18.14 + 0.25%. Debt service reserve fund (DSRF) requirement is based off of average annual debt service. Preliminary, subject to change.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 2 To: Mayor and Town Council From: Kent R. Austin, Finance Director Through: Harlan Jefferson, Town Manager Re: Town Council Meeting – February 25, 2014 Agenda Item: Consider and act upon all matters incident and related to the issuance and sale of the Town of Prosper, Texas General Obligation Refunding and Improvement Bonds, Series 2014, including the adoption of an ordinance authorizing the issuance of such Bonds, approving an Official Statement, a Bond Purchase Agreement, a Paying Agent/Registrar Agreement, and an engagement letter of Bond Counsel. Description of Agenda Item: Existing low interest rates have made refunding of the Town’s 2004 bond series favorable. First Southwest Company, the Town’s financial advisor, estimates that the Town could save $630,504 in present value terms on the remaining 10 years of the 2004 series (see attached example). This represents 8.43% of the outstanding $7,480,000 balance. Along with the refunding, Town staff is proposing to include $1,000,000 for projects in the Town’s FY 2014 Capital Improvements Program. The projects include: 1) Frontier Park Field Lighting, $400,000; 2) Windsong Ranch Fire Station, $300,000; and, 3) Cook Lane Fire Station, $300,000. The refunding/improvement bonds payment schedule can be structured so that there is minimal effect on the Town’s FY 2014 debt service schedule. Budget Impact: An interest payment is included in the debt service schedule for the refunding/improvement bonds. A budget amendment will be prepared and provided to the Council once the exact amount is known. Legal Obligations and Review: Dan Culver, with McCall, Parkhurst & Horton L.L.P., serves as the Town’s Bond Counsel and has written the authorizing ordinance. Attached Documents: 1. Refunding analysis 2. Ordinance authorizing the issuance and sale of Town of Prosper, Texas, General Obligation Refunding and Improvement Bonds, Series 2014 Town Staff Recommendation: Town staff recommends adoption of an ordinance authorizing the issuance of the Town's General Obligation Refunding and Improvement Bonds, Series 2014. Prosper is a place where everyone matters. FINANCE Item 11 Page 2 of 2 Proposed Motion: I move to adopt an ordinance authorizing the issuance of the Town's General Obligation Refunding and Improvement Bonds, Series 2014. Item 11 Town of ProsperSummary of Series 2004 CO RefundingABCDEFGHIFiscalYearDelivery Date DifferenceEnd Principal Interest Total P+I Principal Interest Total P+ITransfer (2)(D ‐ G ‐ H)2014550,000$ #318,400$ 868,400$ 555,000$ #78,797$ 633,797$ 234,603$ ‐$ 2015570,000 #296,400 866,400 620,000 #175,525 795,525 70,875 2016595,000 #273,600 868,600 630,000 #163,125 793,125 75,475 2017620,000 #249,056 869,056 645,000 #150,525 795,525 73,531 2018645,000 #222,706 867,706 655,000 #137,625 792,625 75,081 2019670,000 #195,294 865,294 670,000 #124,525 794,525 70,769 2020700,000 #166,819 866,819 685,000 #111,125 796,125 70,694 2021730,000 #137,069 867,069 700,000 #94,000 794,000 73,069 2022765,000 #106,044 871,044 725,000 #74,750 799,750 71,294 2023800,000 #72,575 872,575 745,000 #52,094 797,094 75,481 2024835,000 #37,575 872,575 770,000 #26,950 796,950 75,625 7,480,000$ 2,075,538$ 9,555,538$ 7,400,000$ 1,189,041$ 8,589,041$ 234,603$ 731,894$ (1) Based on interest rates as of 1.15.2014 + 0.20%; preliminary, subject to change.Present Value Savings ($)630,504$ Present Value Savings (%)8.43%Series 2004 CertificatesSeries 2014 GO Refunding Bonds (1)(2) Represents savings that would otherwise be taken in the current fiscal year. Since the Town has already budgeted for current year debt service, the amount is contributed to the refunding issue in order to downsize that issue. The net effect is that the Town's debt service payment for FYE 2014 is unchanged.Item 11 ORDINANCE NO. 14-__ OF THE TOWN OF PROSPER, TEXAS AUTHORIZING THE ISSUANCE OF TOWN OF PROSPER, TEXAS GENERAL OBLIGATION REFUNDING AND IMPROVEMENT BONDS SERIES 2014 Item 11 i TABLE OF CONTENTS Section 1. Recitals, Amount and Purpose of the Bonds ................................3 Section 2. Designation, Date, Denominations, Numbers, and Maturities and Interest Rates of Bonds ...............................................................3 Section 3. Characteristics of the Bonds ............................................4 Section 4. Form of Bonds .......................................................8 Section 5. Interest and Sinking Fund .............................................14 Section 6. Defeasance of Bonds .................................................15 Section 7. Damaged, Mutilated, Lost, Stolen, or Destroyed Bonds ......................16 Section 8. Custody, Approval, and Registration of Bonds; Bond Counsel's Opinion; CUSIP Numbers and Contingent Insurance Provision, if Obtained; Engagement of Bond Counsel ..............................................................17 Section 9. Covenants Regarding Tax Exemption of Interest on the Bonds ................18 Section 10. Sale of Bonds and Approval of Official Statement; Application of Proceeds; Further Procedures......................................................20 Section 11. Default and Remedies ...............................................21 Section 12. Compliance with Rule 15c2-12........................................22 Section 13. Method of Amendment ..............................................24 Section 14. Approval of Escrow Deposit Agreement and Transfer of Funds ..............26 Section 15. Redemption of Refunded Obligations ...................................26 Section 16. Appropriation ......................................................26 Section 17. Severability .......................................................27 Section 18. Effective Date .....................................................27 Schedule I Schedule of Refunded Obligations ....................................S-1 Exhibit A Annual Financial Statements and Operating Data ........................ A-1 Exhibit B Notice of Redemption...............................................B-1 Item 11 ORDINANCE NO. 14-__ AUTHORIZING THE ISSUANCE AND SALE OF TOWN OF PROSPER, TEXAS GENERAL OBLIGATION REFUNDING AND IMPROVEMENT BONDS, SERIES 2014; LEVYING AN ANNUAL AD VALOREM TAX FOR THE PAYMENT OF SAID BONDS; APPROVING AN OFFICIAL STATEMENT; CALLING CERTAIN OUTSTANDING OBLIGATIONS FOR REDEMPTION PRIOR TO MATURITY; AND ENACTING OTHER PROVISIONS RELATING TO THE SUBJECT THE STATE OF TEXAS § COUNTIES OF COLLIN AND DENTON § TOWN OF PROSPER § WHEREAS, certain previously issued and outstanding obligations of the Town of Prosper, Texas (the "Issuer") styled "Town of Prosper, Texas Combination Tax and Revenue Certificates of Obligation, Series 2004", as further described in Schedule I attached hereto and incorporated herein (the "Refunded Obligations") are intended to be and shall be refunded pursuant to this Ordinance; WHEREAS, Chapter 1207, Texas Government Code, authorizes the Issuer to issue refunding bonds and to deposit the proceeds from the sale thereof, together with any other available funds or resources, directly with a paying agent for the Refunded Obligations or a trust company or commercial bank that does not act as a depository for the Issuer and is named in these proceedings, and such deposit, if made before the payment dates of the Refunded Obligations, shall constitute the making of firm banking and financial arrangements for the discharge and final payment of the Refunded Obligations; WHEREAS, Chapter 1207, Texas Government Code, further authorizes the Issuer to enter into an escrow or similar agreement with such paying agent for the Refunded Obligations or trust company or commercial bank with respect to the safekeeping, investment, reinvestment, administration and disposition of any such deposit, upon such terms and conditions as the Issuer and such paying agent or trust company or commercial bank may agree; WHEREAS, the Town Council hereby finds and declares a public purpose and it is in the best interests of the Issuer to refund the Refunded Obligations in order to achieve a debt service savings, and that such refunding will result in a gross debt service savings of approximately $_______ and a present value debt service savings of $________ to the Issuer, after taking into account the Issuer's contribution to the refunding; WHEREAS, all the Refunded Obligations mature or are subject to redemption prior to maturity within 20 years of the date of the bonds hereinafter authorized; WHEREAS, at an election in the Issuer held on May 14, 2011 (the "Election"), the voters of the Issuer approved the issuance of tax bonds by the Issuer in five propositions totaling $25,040,000.00 for the following purposes and in the following amounts: Item 11 2 Proposition Number Purpose Bonds Approved 1 Purpose of acquiring a site for, and designing, a multi-purpose municipal facility to serve as Town Hall and for other municipal services, with any surplus bond proceeds to be used for the construction of such facility. $1,250,000 2 Purpose of acquiring a site for, and designing, a public works facility, with any surplus bond proceeds to be used for the construction of such facility. $450,000 3 Purpose of designing, constructing, improving and equipping public safety facilities in the Town, to-wit: police and fire stations and facilities to improve and expand the Town's public safety communications system for police, fire, emergency medical service and other communications relating to public safety and emergency conditions, and the acquisition of land and interests in land as necessary for such purposes. $3,850,000 4 Purpose of designing, constructing, improving and equipping parks, trails and recreational facilities and a park administration facility, and the acquisition of land and interests in land for such purposes. $6,200,000 5 Purpose of constructing, improving, extending, expanding, upgrading and developing streets and roads, bridges and intersections including, utility relocation, landscaping, sidewalks, traffic safety and operational improvements, the purchase of any necessary right-of-way, drainage and other related costs. $13,290,000 WHEREAS, the Town Council of the Issuer has heretofore issued its (i) General Obligation Refunding and Improvement Bonds, Series 2011 using $320,000 of the authorization from Proposition 4, (ii) General Obligation Bonds, Series 2012 using $3,810,000 of the authorization from Proposition 5 and (iii) General Obligation Bonds, Taxable Series 2012 using $3,880,000 of the authorization from Proposition 4; WHEREAS, the Town Council deems it necessary and advisable at this time to authorize, issue and deliver the bonds authorized herein using $600,000 of the authorization from Proposition 3 for the purposes stated in the preceding paragraph and $400,000 from Proposition 4, thereby leaving (i) all voted authorization from Propositions 1 and 2, (ii) $3,250,000 of voted authorization from Proposition 3, (iii) $1,600,000 of voted authorization from Proposition 4 and (iv) $9,480,000 of voted authorization from Proposition 5; Item 11 3 WHEREAS, Chapter 1207 authorizes the Issuer to authorize, issue and deliver said voted bonds in conjunction with the issuance of the refunding bonds hereinafter authorized; WHEREAS, the bonds hereafter authorized are being issued and delivered pursuant to said Chapter 1207 and Chapter 1331 of the Texas Government Code; and WHEREAS, it is officially found, determined, and declared that the meeting at which this Ordinance has been adopted was open to the public and public notice of the time, place and subject matter of the public business to be considered and acted upon at said meeting, including this Ordinance, was given, all as required by the applicable provisions of Texas Government Code, Chapter 551; Now, Therefore BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF PROSPER, TEXAS: Section 1. RECITALS, AMOUNT AND PURPOSE OF THE BONDS. 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 bonds of the Issuer are hereby authorized to be issued and delivered in the aggregate principal amount of $7,890,000, to wit: $6,890,000 FOR THE PURPOSE OF PROVIDING FUNDS TO REFUND A PORTION OF THE ISSUER'S OUTSTANDING CERTIFICATES OF OBLIGATION AND $1,000,000 FOR THE CONSTRUCTION AND EQUIPMENT OF PUBLIC IMPROVEMENTS IN THE ISSUER AS DESCRIBED IN THE PREAMBLE HERETO. Section 2. DESIGNATION, DATE, DENOMINATIONS, NUMBERS, AND MATURITIES AND INTEREST RATES OF BONDS. Each bond issued pursuant to this Ordinance shall be designated: "TOWN OF PROSPER, TEXAS, GENERAL OBLIGATION REFUNDING AND IMPROVEMENT BOND, SERIES 2014," and initially there shall be issued, sold, and delivered hereunder one fully registered bond, without interest coupons, dated February 15, 2014, in the principal amount stated above and in the denominations hereinafter stated, numbered T-1, with bonds 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 bond being made payable to the initial purchaser as described in Section 10 hereof), or to the registered assignee or assignees of said bonds or any portion or portions thereof (in each case, the "Registered Owner"), and said bonds shall mature and be payable serially on February 15in each of the years and in the principal amounts, respectively, and shall bear interest from the dates set forth in the FORM OF BOND set forth in Section 4 of this Item 11 4 Ordinance to their respective dates of maturity at the rates per annum, as set forth in the following schedule: Years Principal Amount Interest Rates Years Principal Amount Interest Rates 2015 2025 2016 2026 2017 2027 2018 2028 2019 2029 2020 2031 2021 2032 2022 2033 2023 2034 2024 Section 3. CHARACTERISTICS OF THE BONDS. (a) Registration, Transfer, Conversion and Exchange. The Issuer shall keep or cause to be kept at the designated corporate trust office of U.S. Bank National Association, in Dallas, Texas (the "Paying Agent/Registrar"), books or records for the registration of the transfer, conversion and exchange of the Bonds (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 Bond to which payments with respect to the Bonds 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 Bond or Bonds. Registration of assignments, transfers, conversions and exchanges of Bonds shall be made in the manner provided and with the effect stated in the FORM OF BOND set forth in this Ordinance. Each substitute Bond shall bear a letter and/or number to distinguish it from each other Bond. 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 Bond, date and manually sign said Bond, and no such Bond shall be deemed to be issued or outstanding unless such Bond is so executed. The Paying Agent/Registrar promptly shall cancel all paid Bonds and Bonds surrendered Item 11 5 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 Bond or portion thereof, and the Paying Agent/Registrar shall provide for the printing, execution, and delivery of the substitute Bonds in the manner prescribed herein, and said Bonds shall be printed or typed on paper of customary weight and strength. Pursuant to Chapter 1201, Government Code, as amended, the duty of conversion and exchange of Bonds as aforesaid is hereby imposed upon the Paying Agent/Registrar, and, upon the execution of said Bond, the converted and exchanged Bond shall be valid, incontestable, and enforceable in the same manner and with the same effect as the Bonds 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 Bonds 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 Bonds, all as provided in this Ordinance. The Paying Agent/Registrar shall keep proper records of all payments made by the Issuer and the Paying Agent/Registrar with respect to the Bonds, and of all conversions and exchanges of Bonds, and all replacements of Bonds, 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 Bonds (i) shall be issued in fully registered form, without interest coupons, with the principal of and interest on such Bonds to be payable only to the registered owners thereof, (ii) may be converted and exchanged for other Bonds, (iii) may be transferred and assigned, (iv) shall have the characteristics, (v) shall be signed, sealed, executed and authenticated, (vi) the principal of and interest on the Bonds shall be payable, and (vii) shall be administered and the Paying Agent/Registrar and the Issuer shall have certain duties and responsibilities with respect to the Bonds, all as provided, and in the manner and to the effect as required or indicated, in the FORM OF BOND set forth in this Ordinance. The Bond 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 Bond issued in conversion of and exchange for any Bond or Bonds 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 BOND. (d) Paying Agent/Registrar for the Bonds. The Issuer covenants with the registered owners of the Bonds that at all times while the Bonds are outstanding the Issuer will provide a competent and legally qualified bank, trust company, financial institution, or other entity to act as and perform the services of Paying Agent/Registrar for the Bonds under this Ordinance, and that the Paying Agent/Registrar will be one entity. The Issuer reserves the right to, and may, at its option, change the Paying Agent/Registrar upon not less than 60 days written notice to the Paying Agent/Registrar, Item 11 6 to be effective not later than 45 days prior to the next principal or interest payment date after such notice. In the event that the entity at any time acting as Paying Agent/Registrar (or its successor by merger, acquisition, or other method) should resign or otherwise cease to act as such, the Issuer covenants that promptly it will appoint a competent and legally qualified bank, trust company, financial institution, or other entity to act as Paying Agent/Registrar under this Ordinance. Upon any change in the Paying Agent/Registrar, the previous Paying Agent/Registrar promptly shall transfer and deliver the Registration Books (or a copy thereof), along with all other pertinent books and records relating to the Bonds, to the new Paying Agent/Registrar designated and appointed by the Issuer. Upon any change in the Paying Agent/Registrar, the Issuer promptly will cause a written notice thereof to be sent by the new Paying Agent/Registrar to each Registered Owner of the Bonds, by United States mail, first-class postage prepaid, which notice also shall give the address of the new Paying Agent/Registrar. By accepting the position and performing as such, each Paying Agent/Registrar shall be deemed to have agreed to the provisions of this Ordinance, and a certified copy of this Ordinance shall be delivered to each Paying Agent/Registrar. (e) Authentication. Except as provided below, no Bond shall be valid or obligatory for any purpose or be entitled to any security or benefit of this Ordinance unless and until there appears thereon the Certificate of Paying Agent/Registrar substantially in the form provided in this Ordinance, duly authenticated by manual execution of the Paying Agent/Registrar. It shall not be required that the same authorized representative of the Paying Agent/Registrar sign the Certificate of Paying Agent/Registrar on all of the Bonds. In lieu of the executed Certificate of Paying Agent/Registrar described above, the Initial Bond delivered on the closing date shall have attached thereto the Comptroller's Registration Certificate substantially in the form provided in this Ordinance, manually executed by the Comptroller of Public Accounts of the State of Texas or by his duly authorized agent, which certificate shall be evidence that the Initial Bond has been duly approved by the Attorney General of the State of Texas and that it is a valid and binding obligation of the Issuer, and has been registered by the Comptroller. (f) Book-Entry Only System. The Bonds issued in exchange for the Bond initially issued to the initial purchaser specified herein shall be initially issued in the form of a separate single fully registered Bond for each of the maturities thereof. Upon initial issuance, the ownership of each such Bond 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 Bonds shall be registered in the name of Cede & Co., as nominee of DTC. With respect to Bonds 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 Bonds. 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 Bonds, (ii) the delivery to any DTC Participant or any other person, Item 11 7 other than a Registered Owner of Bonds, as shown on the Registration Books, of any notice with respect to the Bonds, or (iii) the payment to any DTC Participant or any other person, other than a Registered Owner of Bonds, as shown in the Registration Books of any amount with respect to principal of or interest on the Bonds. 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 Bond is registered in the Registration Books as the absolute owner of such Bond for the purpose of payment of principal and interest with respect to such Bond, for the purpose of registering transfers with respect to such Bond, and for all other purposes whatsoever. The Paying Agent/Registrar shall pay all principal of and interest on the Bonds 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 Bonds 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 Bond 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. The previous execution and delivery of the Blanket Letter of Representations with respect to obligations of the Issuer is hereby ratified and confirmed; and the provisions thereof shall be fully applicable to the Bonds. (g) 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 Bonds that they be able to obtain certificated Bonds, 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 Bonds to such successor securities depository or (ii) notify DTC and DTC Participants of the availability through DTC of Bonds and transfer one or more separate certificated Bonds to DTC Participants having Bonds credited to their DTC accounts. In such event, the Bonds 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 Bonds shall designate, in accordance with the provisions of this Ordinance. (h) Payments to Cede & Co. Notwithstanding any other provision of this Ordinance to the contrary, so long as any Bond is registered in the name of Cede & Co., as nominee of DTC, all payments with respect to principal of and interest on such Bond and all notices with respect to such Bond shall be made and given, respectively, in the manner provided in the representations letter of the Issuer to DTC. Item 11 8 (i) Cancellation of Initial Bond. On the closing date, one initial Bond representing the entire principal amount of the Bonds, payable in stated installments to the purchaser designated in Section 10 or its designee, executed by manual or facsimile signature of the Mayor 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 Bond, the Paying Agent/Registrar shall cancel the initial Bond and deliver to the Depository Trust Company on behalf of such purchaser one registered definitive Bond for each year of maturity of the Bonds, in the aggregate principal amount of all of the Bonds for such maturity. Section 4. FORM OF BONDS. The form of the Bonds, 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 Bonds 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 Bond. NO. R-UNITED STATES OF AMERICA STATE OF TEXAS PRINCIPAL AMOUNT $_________ TOWN OF PROSPER, TEXAS GENERAL OBLIGATION REFUNDING AND IMPROVEMENT BOND SERIES 2014 Interest Rate Date of Initial Delivery Maturity Date CUSIP No. March 27, 2014 February 15, ____ REGISTERED OWNER: 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 Bond is required to be authenticated Item 11 9 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 Bond or Bonds, if any, for which this Bond is being exchanged is due but has not been paid, then this Bond shall bear interest from the date to which such interest has been paid in full. THE PRINCIPAL OF AND INTEREST ON this Bond are payable in lawful money of the United States of America, without exchange or collection charges. The principal of this Bond shall be paid to the registered owner hereof upon presentation and surrender of this Bond at maturity, or upon the date fixed for its redemption prior to maturity, at the designated corporate trust office of U.S. Bank National Association, in Dallas, Texas, which is the "Paying Agent/Registrar" for this Bond. The payment of interest on this Bond 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 Bond (the "Bond 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 business 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 Bond appearing on the Registration Books at the close of business on the last business day next preceding the date of mailing of such notice. ANY ACCRUED INTEREST due at maturity of this Bond prior to maturity as provided herein shall be paid to the registered owner upon presentation and surrender of this Bond for payment at the designated corporate trust office of the Paying Agent/Registrar. The Issuer covenants with the registered owner of this Bond that on or before each principal payment date, interest payment date, and accrued interest payment date for this Bond it will make available to the Paying Agent/Registrar, from the "Interest and Sinking Fund" created by the Bond Ordinance, the amounts required to provide for the payment, in immediately available funds, of all principal of and interest on the Bonds, when due. Item 11 10 IF THE DATE for the payment of the principal of or interest on this Bond shall be a Saturday, Sunday, a legal holiday or a day on which banking institutions in the city where the designated 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 BOND is one of a series of Bonds dated as of February 15, 2014, authorized in accordance with the Constitution and laws of the State of Texas in the principal amount of $7,890,000, to wit: $6,890,000 for the purpose of providing funds to refund a portion of the Issuer's outstanding certificates of obligation and $1,000,000 for the construction and equipment of public improvements in the Issuer as described in the Bond Ordinance. THE BONDS OF THIS SERIES maturing on February 15 in the years ______________ are subject to mandatory redemption prior to maturity in part at random, by lot or other customary method selected by the Paying Agent/Registrar, at par plus accrued interest to the redemption date, and without premium, with funds on deposit in the Interest and Sinking Fund. Such Bonds shall be redeemed by the Paying Agent/Registrar on February 15 in each of the years and in the principal amounts, respectively, as are set forth in the following schedule: Bonds Maturing February 15, 20 Bonds Maturing February 15, 20 Bonds Maturing February 15, 20 Bonds Maturing February 15, 20 Bonds Maturing February 15, 20 Year Principal Amount Year Principal Amount Year Principal Amount Year Principal Amount Year Principal Amount *Final maturity of Bond. The principal amount of the Bonds required to be redeemed pursuant to the operation of such mandatory sinking fund shall be reduced by the principal amount of any Bonds which, at least 45 days prior to the mandatory sinking fund redemption date (i) shall have been purchased by the Issuer and delivered to the Paying Agent/Registrar for cancellation or (ii) redeemed pursuant to the optional redemption provision described below and not theretofore credited against a mandatory sinking fund requirement. IN ADDITION TO THE MANDATORY REDEMPTION provisions described above, the Bonds of maturing on and after February 15, 2025 may be redeemed prior to their scheduled maturities on any date on or after February 15, 2024, at the option of the Issuer, with funds derived from any available and lawful source, as a whole, or in part, and, if in part, the particular Bonds, or portions thereof, to be redeemed shall be selected and designated by the Issuer (provided that a portion of a Bond 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. Item 11 11 AT LEAST 30 DAYS PRIOR to the date fixed for any redemption of Bonds 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, to the registered owner of each Bond to be redeemed at its address as it appeared on the day such notice of redemption is mailed; 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 Bond. 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 Bonds or portions thereof which 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 Bonds or portions thereof which 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 Bond shall be redeemed a substitute Bond or Bonds 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 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 Bond Ordinance. ALL BONDS OF THIS SERIES are issuable solely as fully registered bonds, without interest coupons, in the denomination of any integral multiple of $5,000. As provided in the Bond Ordinance, this Bond may, at the request of the registered owner or the assignee or assignees hereof, be assigned, transferred, converted into and exchanged for a like aggregate principal amount of fully registered Bonds, 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 Bond to the Paying Agent/Registrar for cancellation, all in accordance with the form and procedures set forth in the Bond Ordinance. Among other requirements for such assignment and transfer, this Bond 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 Bond or any portion or portions hereof in any integral multiple of $5,000 to the assignee or assignees in whose name or names this Bond or any such portion or portions hereof is or are to be registered. The form of Assignment printed or endorsed on this Bond 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 Bond 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 Bond 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 Item 11 12 make any such transfer, conversion, or exchange 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. IN THE EVENT any Paying Agent/Registrar for the Bonds is changed by the Issuer, resigns, or otherwise ceases to act as such, the Issuer has covenanted in the Bond 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 Bonds. IT IS HEREBY certified, recited and covenanted that this Bond 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 Bond have been performed, existed and been done in accordance with law; and that annual ad valorem taxes sufficient to provide for the payment of the interest on and principal of this Bond, 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. THE ISSUER HAS RESERVED THE RIGHT to amend the Bond Ordinance as provided therein, and under some (but not all) circumstances amendments thereto must be approved by the registered owners of a majority in aggregate principal amount of the outstanding Bonds. BY BECOMING the registered owner of this Bond, the registered owner thereby acknowledges all of the terms and provisions of the Bond Ordinance, agrees to be bound by such terms and provisions, acknowledges that the Bond 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 Bond and the Bond Ordinance constitute a contract between each registered owner hereof and the Issuer. IN WITNESS WHEREOF, the Issuer has caused this Bond to be signed with the manual or facsimile signature of the Mayor of the Issuer (or in the Mayor's absence, by the Mayor Pro-Tem) and countersigned with the manual or facsimile signature of the Town Secretary of the Issuer, and has caused the official seal of the Issuer to be duly impressed, or placed in facsimile, on this Bond. (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 Bond is not accompanied by an executed Registration Item 11 13 Certificate of the Comptroller of Public Accounts of the State of Texas) It is hereby certified that this Bond has been issued under the provisions of the Bond Ordinance described in the text of this Bond; and that this Bond has been issued in conversion or replacement of, or in exchange for, a Bond, Bonds, or a portion of a Bond or Bonds 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 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 Bond and all rights thereunder, and hereby irrevocably constitutes and appoints , attorney, to register the transfer of the within Bond 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 Bond in every particular, without alteration or enlargement or any change whatsoever. Item 11 14 (d) Form of Registration Certificate of the Comptroller of Public Accounts. COMPTROLLER'S REGISTRATION CERTIFICATE: REGISTER NO. _____________ I hereby certify that this Bond has been examined, certified as to validity and approved by the Attorney General of the State of Texas, and that this Bond 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 Bond Insertions. (i) The initial Bond shall be in the form set forth is paragraph (a) of this Section, except that: A. immediately under the name of the Bond, 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, 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 February 15 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 (Information from Section 2 to be inserted) 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 Bond 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 Item 11 15 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 Bond or Bonds, if any, for which this Bond is being exchanged is due but has not been paid, then this Bond shall bear interest from the date to which such interest has been paid in full." C. The Initial Bond shall be numbered "T-1." Section 5. INTEREST AND SINKING FUND. (a) A special "Interest and Sinking Fund" is hereby created and shall be established and maintained by the Issuer at an official depository bank of said Issuer. Said Interest and Sinking Fund shall be kept separate and apart from all other funds and accounts of said Issuer, and shall be used only for paying the interest on and principal of said Bonds. All amounts received from the sale of the Bonds as accrued interest, if any, shall be deposited upon receipt to the Interest and Sinking Fund, and all ad valorem taxes levied and collected for and on account of said Bonds shall be deposited, as collected, to the credit of said Interest and Sinking Fund. During each year while any of said Bonds are outstanding and unpaid, the governing body of said 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 said Bonds as such interest comes due, and to provide and maintain a sinking fund adequate to pay the principal of said Bonds as such principal matures (but never less than 2% of the original amount of said Bonds as a sinking fund each year); and said tax shall be based on the latest approved tax rolls of said 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 said Issuer, for each year while any of said Bonds 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 said Bonds, as such interest comes due and such principal matures, are hereby pledged for such payment, within the limit prescribed by law. Notwithstanding the requirements of this subsection, if lawfully available moneys of the Issuer 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 this Section may be reduced to the extent and by the amount of the lawfully available funds then on deposit in the Interest and Sinking Fund. (b) Chapter 1208, Government Code, applies to the issuance of the Bonds and the pledge of the taxes granted by the Issuer under this Section, and is therefore valid, effective, and perfected. Should Texas law be amended at any time while the Bonds are outstanding and unpaid, the result of such amendment being that the pledge of the taxes granted by the Issuer under this Section is to be subject to the filing requirements of Chapter 9, Business & Commerce Code, in order to preserve to the registered owners of the Bonds a security interest in said pledge, the Issuer agrees to take such measures as it determines are reasonable and necessary under Texas law to comply with the Item 11 16 applicable provisions of Chapter 9, Business & Commerce Code and enable a filing of a security interest in said pledge to occur. Section 6. DEFEASANCE OF BONDS. (a) Any Bond and the interest thereon shall be deemed to be paid, retired and no longer outstanding (a "Defeased Bond") within the meaning of this Ordinance, except to the extent provided in subsection (d) of this Section, when payment of the principal of such Bond, 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 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 Bonds shall have become due and payable. At such time as a Bond shall be deemed to be a Defeased Bond hereunder, as aforesaid, such Bond and the interest thereon shall no longer be secured by, payable from, or entitled to the benefits of, the ad valorem taxes 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. (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 Bonds 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 Bonds 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 (a)(i) or (ii) of this Section. All income from such Defeasance Securities received by the Paying Agent/Registrar which is not required for the payment of the Defeased Bonds, 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 State law that are eligible to refund, retire or otherwise discharge obligations such as the Bonds. Item 11 17 (d) Until all Defeased Bonds shall have become due and payable, the Paying Agent/Registrar shall perform the services of Paying Agent/Registrar for such Defeased Bonds 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 Bonds of a maturity, the Paying Agent/Registrar shall select, or cause to be selected, such amount of Bonds by such random method as it deems fair and appropriate. Section 7. DAMAGED, MUTILATED, LOST, STOLEN, OR DESTROYED BONDS. (a) Replacement Bonds. In the event any outstanding Bond is damaged, mutilated, lost, stolen or destroyed, the Paying Agent/Registrar shall cause to be printed, executed and delivered, a new Bond of the same principal amount, maturity and interest rate, as the damaged, mutilated, lost, stolen or destroyed Bond, in replacement for such Bond in the manner hereinafter provided. (b) Application for Replacement Bonds. Application for replacement of damaged, mutilated, lost, stolen or destroyed Bonds shall be made by the registered owner thereof to the Paying Agent/Registrar. In every case of loss, theft or destruction of a Bond, the registered owner applying for a replacement Bond 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 Bond, 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 Bond, as the case may be. In every case of damage or mutilation of a Bond, the registered owner shall surrender to the Paying Agent/Registrar for cancellation the Bond so damaged or mutilated. (c) No Default Occurred. Notwithstanding the foregoing provisions of this Section, in the event any such Bond 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 Bond, the Issuer may authorize the payment of the same (without surrender thereof except in the case of a damaged or mutilated Bond) instead of issuing a replacement Bond, provided security or indemnity is furnished as above provided in this Section. (d) Charge for Issuing Replacement Bonds. Prior to the issuance of any replacement Bond, the Paying Agent/Registrar shall charge the registered owner of such Bond with all legal, printing, and other expenses in connection therewith. Every replacement Bond issued pursuant to the provisions of this Section by virtue of the fact that any Bond is lost, stolen or destroyed shall constitute a contractual obligation of the Issuer whether or not the lost, stolen or destroyed Bond 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 Bonds duly issued under this Ordinance. Item 11 18 (e) Authority for Issuing Replacement Bonds. In accordance with Sec. 1206.022, Government Code, this Section 7 of this Ordinance shall constitute authority for the issuance of any such replacement Bond 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 Bonds is hereby authorized and imposed upon the Paying Agent/Registrar, and the Paying Agent/Registrar shall authenticate and deliver such Bonds in the form and manner and with the effect, as provided in Section 3(a) of this Ordinance for Bonds issued in conversion and exchange for other Bonds. Section 8. CUSTODY, APPROVAL, AND REGISTRATION OF BONDS; BOND COUNSEL'S OPINION; CUSIP NUMBERS AND CONTINGENT INSURANCE PROVISION, IF OBTAINED; ENGAGEMENT OF BOND COUNSEL. (a) The Mayor of the Issuer is hereby authorized to have control of the Bonds initially issued and delivered hereunder and all necessary records and proceedings pertaining to the Bonds 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 Bonds 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 Bonds, and the seal of said Comptroller shall be impressed, or placed in facsimile, on such Bond. 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 Bonds 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 Bonds. In addition, if the Bonds are sold as insured obligations, the Bonds may bear an appropriate legend as provided by the insurer. (b) The obligation of the initial purchaser to accept delivery of the Bonds 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 Bonds to the initial purchaser. The engagement of such firm as bond counsel to the Issuer in connection with issuance, sale and delivery of the Bonds 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 may be approved by the Mayor, and the Mayor is hereby authorized to execute such engagement letter. Section 9. COVENANTS REGARDING TAX EXEMPTION OF INTEREST ON THE BONDS. (a) Covenants. The Issuer covenants to take any action necessary to assure, or refrain from any action that would adversely affect, the treatment of the Bonds as obligations 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: (1) to take any action to assure that no more than 10 percent of the proceeds of the Bonds (less amounts deposited to a reserve fund, if any) are used for any "private business Item 11 19 use," as defined in section 141(b)(6) of the Code or, if more than 10 percent of the proceeds or the projects financed by the Bonds or the Refunded Obligations (the "Project") 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 Bonds, in contravention of section 141(b)(2) of the Code; (2) to take any action to assure that in the event that the "private business use" described in subsection (1) hereof exceeds 5 percent of the proceeds of the Bonds 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; (3) 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 Bonds (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; (4) to refrain from taking any action that would otherwise result in the Bonds being treated as "private activity bonds" within the meaning of section 141(b) of the Code; (5) to refrain from taking any action that would result in the Bonds being "federally guaranteed" within the meaning of section 149(b) of the Code; (6) to refrain from using any portion of the proceeds of the Bonds, 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 Bonds, other than investment property acquired with – (A) proceeds of the Bonds invested for a reasonable temporary period until such proceeds are needed for the purpose for which the bonds are issued, (B) amounts invested in a bona fide debt service fund, within the meaning of section 1.148-1(b) of the Treasury Regulations, and (C) 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 Bonds; (7) to otherwise restrict the use of the proceeds of the Bonds or amounts treated as proceeds of the Bonds, as may be necessary, so that the Bonds 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 Item 11 20 (8) to pay to the United States of America at least once during each five-year period (beginning on the date of delivery of the Bonds) 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 Bonds 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. (b) Rebate Fund. In order to facilitate compliance with the above covenant (a)(8), 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 Bondholders. The Rebate Fund is established for the additional purpose of compliance with section 148 of the Code. (c) Use of Proceeds. For purposes of the foregoing covenants (a)(1) and (a)(2), the Issuer understands that the term "proceeds" includes "disposition proceeds" as defined in the Treasury Regulations and, in the case of the Bonds, transferred proceeds (if any) and proceeds of the Refunded Obligations expended prior to the date of issuance of the Bonds. 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 Bonds, the Issuer will not be required to comply with any covenant contained herein to the 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 Bonds under section 103 of the Code. In the event that regulations or rulings are hereafter promulgated that impose additional requirements applicable to the Bonds, 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 Bonds under section 103 of the Code. In furtherance of such intention, the Issuer hereby authorizes and directs the Mayor or the Finance Director 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 Bonds. (d) Disposition of Projects. The Issuer covenants that the Projects 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 Bonds. 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. Item 11 21 Section 10. SALE OF BONDS AND APPROVAL OF OFFICIAL STATEMENT; APPLICATION OF PROCEEDS; FURTHER PROCEDURES. (a) The Bonds are hereby sold and shall be delivered to BOSC, Inc. and RBC Capital Markets (collectively, the "Underwriter") for the purchase price of $_________ (representing the par amount of the Bonds of $________, plus a net original issue premium of $________ and less an Underwriters' discount on the Bonds of $_________), pursuant to the terms and provisions of a Purchase Agreement with the Underwriter. It is hereby officially found, determined, and declared that the Bonds have been sold pursuant to the terms and provisions of a Purchase Agreement in substantially the form presented at this meeting, which the Mayor of the Issuer is hereby authorized and directed to execute. It is hereby officially found, determined, and declared that the terms of this sale are the most advantageous reasonably obtainable. The Initial Bond shall be registered in the name of BOSC, Inc. or its designee. (b) The Issuer hereby approves the form and content of the Official Statement relating to the Bonds and any addenda, supplement or amendment thereto, and approves the distribution of such Official Statement in the reoffering of the Bonds by the Underwriters 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 posted and disseminated, prior to the date hereof, which is dated February __, 2014, is hereby ratified and confirmed. (c) The proceeds of the sale of the Bonds (i) in the amount of $________ shall be deposited with the paying agent for the Refunded Obligations to be administered in accordance with the Escrow Deposit Agreement approved in accordance with Section 14 hereof, (ii) in the amount of $1,000,000.00 shall be deposited to the construction fund of the Issuer to be used for the construction of the projects financed with the Bonds (the "Project"), (iii) in the amount of $________ shall be applied to pay the costs of issuance of the Bonds and (iv) in the amount of $_________ shall be deposited to the Interest and Sinking Fund. (d) The Mayor, Town Manager 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 Bonds, the sale of the Bonds and the Official Statement. 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. Section 11. DEFAULT AND REMEDIES Item 11 22 (a) 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: (i) the failure to make payment of the principal of or interest on any of the Bonds 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 of the Bonds, 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. (b) Remedies for Default. (i) Upon the happening of any Event of Default, then and in every case, any Registered Owner or an authorized representative thereof, including, but not limited to, a trustee or trustees therefor, may proceed against the Issuer 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. (ii) It is provided that all such proceedings shall be instituted and maintained for the equal benefit of all Registered Owners of Bonds then outstanding. (c) Remedies Not Exclusive. (i) 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 Bonds 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 Bonds shall not be available as a remedy under this Ordinance. (ii) The exercise of any remedy herein conferred or reserved shall not be deemed a waiver of any other available remedy. (iii) By accepting the delivery of a Bond 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 councilmembers of the Issuer. Item 11 23 Section 12. 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. (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 Bonds: 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 Bonds, or other material events affecting the tax status of the Bonds; Item 11 24 7. Modifications to rights of holders of the Bonds, if material; 8. Bond calls, if material, and tender offers; 9. Defeasances; 10. Release, substitution, or sale of property securing repayment of the Bonds, 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 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 Bonds 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 Bonds 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 Bonds, 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 Bonds at any future date. Item 11 25 (iii) UNDER NO CIRCUMSTANCES SHALL THE ISSUER BE LIABLE TO THE REGISTERED OWNER OR BENEFICIAL OWNER OF ANY BOND 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. (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 Bonds in the primary offering of the Bonds 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 Bonds 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 Bonds. 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 Bonds in the primary offering of the Bonds. Section 13. 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 that shall not materially adversely affect the interests of the holders, (iv) 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 (v) make such other provisions in regard to matters or questions arising under this Item 11 26 Ordinance as shall not be inconsistent with the provisions of this Ordinance and that 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 Bonds aggregating in principal amount 51% of the aggregate principal amount of then outstanding Bonds that are the subject of a proposed amendment shall have the right from time to time to approve any amendment hereto that may be deemed necessary or desirable by the Issuer; provided, however, that without the consent of 100% of the holders in aggregate principal amount of the then outstanding Bonds, nothing herein contained shall permit or be construed to permit amendment of the terms and conditions of this Ordinance or in any of the Bonds so as to: (1) Make any change in the maturity of any of the outstanding Bonds; (2) Reduce the rate of interest borne by any of the outstanding Bonds; (3) Reduce the amount of the principal of, or redemption premium, if any, payable on any outstanding Bonds; (4) Modify the terms of payment of principal or of interest or redemption premium on outstanding Bonds 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 Bonds 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 Bonds 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 Bonds. (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 Bonds then outstanding that are required for the amendment, which instrument or instruments shall refer to the proposed amendment and that 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 Bonds shall thereafter be determined, exercised, and enforced, subject in all respects to such amendment. Item 11 27 (f) Any consent given by the holder of a Bond 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 Bond 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 aggregate principal amount of the affected Bonds then outstanding, have, prior to the attempted revocation, consented to and approved the amendment. For the purposes of establishing ownership of the Bonds, the Issuer shall rely solely upon the registration of the ownership of such Bonds on the registration books kept by the Paying Agent/Registrar. Section 14. APPROVAL OF ESCROW DEPOSIT AGREEMENT AND TRANSFER OF FUNDS. The Mayor of the Issuer is hereby authorized and directed to execute and deliver an escrow deposit agreement with U.S. Bank National Association with respect to the Refunded Obligations, in substantially the form presented at the meeting at which this Ordinance was adopted. In addition, the Mayor and the Town Manager are each authorized to purchase such securities, including to execute subscriptions for the purchase of U. S. Treasury Securities, State and Local Government Series, and to authorize such contributions, as may be necessary for the escrow fund established under such agreement. Section 15. REDEMPTION OF REFUNDED OBLIGATIONS. (a) The Issuer hereby directs that certain of the Refunded Obligations be called for redemption on the dates and as set forth on Schedule I. Each of such Refunded Obligations shall be redeemed at the redemption price of par plus accrued interest. The Mayor of the Issuer is hereby authorized and directed to issue or cause to be issued the Notice of Redemption of the Refunded Obligations in the form set forth in Exhibit B attached hereto to the paying agent/registrar for the Refunded Obligations. (b) In addition, the paying agent/registrar for the Refunded Obligations is hereby directed to provide the appropriate notices of redemption and defeasance as specified by the ordinances authorizing the issuance of the Refunded Obligations and is hereby directed to make appropriate arrangements so that the Refunded Obligations may be redeemed on their redemption dates. The Refunded Obligations shall be presented for redemption at the paying agent/registrar therefore, and shall not bear interest after the date fixed for redemption. (c) The source of funds for payment of the principal of and interest on the Refunded Obligations on their redemption date shall be from the funds deposited with U.S. Bank National Association, pursuant to the escrow deposit agreement approved in Section 14 of this Ordinance. Section 16. APPROPRIATION. To pay the debt service coming due on the Bonds, if any, prior to receipt of the taxes levied to pay such debt service, there is hereby appropriated from current Item 11 28 funds on hand, which are hereby certified to be on hand and available for such purpose, an amount sufficient to pay such debt service, and such amount shall be used for no other purpose. Section 17. SEVERABILITY. If any section, article, paragraph, sentence, clause, phrase or word in this Ordinance, or application thereof to any persons or circumstances is held invalid or unconstitutional by a court of competent jurisdiction, such holding shall not affect the validity of the remaining portion of this Ordinance, despite such invalidity, which remaining portions shall remain in full force and effect. Section 18. EFFECTIVE DATE. In accordance with the provisions of Texas Government Code, Section 1201.028, this Ordinance shall be effective immediately upon its adoption by the Town Council. Item 11 S-1 SCHEDULE I SCHEDULE OF REFUNDED OBLIGATIONS Description Maturities PrincipalAmountOutstanding Principal AmountRefunded Combination Tax and Revenue Certificates ofObligation, Series 2004 8/15/2014 $550,000 $550,000 8/15/2015 570,000 570,000 8/15/2016 595,000 595,000 8/15/2017 620,000 620,000 8/15/2018 645,000 645,000 8/15/2019 670,000 670,000 8/15/2020 700,000 700,000 8/15/2021 730,000 730,000 8/15/2022 765,000 765,000 8/15/2023 800,000 800,000 8/15/2024 835,000 835,000 Total $7,480,000 $7,480,000 Called for redemption on _______________, 2014, at par plus accrued interest. Item 11 A-1 EXHIBIT A Annual Financial Statements and Operating Data The following information is referred to in Section 12(b) 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 Tables numbered 1 through 5 and 7 through 14 and in Appendix B of 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 Exhibit B, or such other accounting principles as the Issuer may be required to employ from time to time pursuant to state law or regulation. -------------------- Item 11 B-1 EXHIBIT B - NOTICE OF REDEMPTION TOWN OF PROSPER, TEXAS NOTICE IS HEREBY GIVEN that the Town of Prosper, Texas has called for redemption the outstanding Certificates of Obligation of the Town described as follows: Town of Prosper, Texas Combination Tax and Revenue Certificates of Obligation, Series 2004, dated February 1, 2004, maturing on the dates shown below, in the aggregate principal amount of $7,480,000 (the "Series 2004 Certificates"), to the call date of the Series 2004 Certificates: ____________, 2014. Maturity Date Original Principal Amount Principal Amount to be Redeemed CUSIP Number 8/15/2014 $550,000 $550,000 743596DD7 8/15/2015 570,000 570,000 743596DE5 8/15/2016 595,000 595,000 743596DF2 8/15/2017 620,000 620,000 743596DG0 8/15/2018 645,000 645,000 743596DH8 8/15/2019 670,000 670,000 743596DJ4 8/15/2020 700,000 700,000 743596DK1 8/15/2021 730,000 730,000 743596DL9 8/15/2022 765,000 765,000 743596DM7 8/15/2023 800,000 800,000 743596DN5 8/15/2024 835,000 835,000 743596DP0 On the redemption date stated above, the Series 2004 Certificates will be redeemed in accordance with the terms of the ordinance authorizing their issuance from amounts held in an escrow account administered by U.S. Bank National Association, which is the Paying Agent/Registrar and Escrow Agent for the Series 2004 Certificates, and the redemption price shall be paid upon presentation of the Series 2004 Certificates as follows: First Class/Registered/ Certified Mail Express Delivery Hand Delivery U.S. Bank National Association Corporate Trust Services P. O. Box 64111 St. Paul, MN 55164-0111 U.S. Bank National Association Corporate Trust Services 60 Livingston Avenue 1st Floor - Bond Drop Window St. Paul, MN 55107 Upon presentation of the Series 2004 Certificates at the Paying Agent/Registrar on the aforementioned redemption date, the holder thereof shall be entitled to receive the redemption price equal to par and accrued interest to the redemption date. In the event said Series 2004 Certificates, or any of them are not presented for redemption by the date fixed for their redemption, they shall not thereafter bear interest. This notice is issued and given pursuant to the redemption provisions in the proceedings authorizing the issuance of the aforementioned Series 2004 Certificates and in accordance with the recitals and provisions of said Series 2004 Certificates. TOWN OF PROSPER, TEXAS Item 11 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 25, 2014 Agenda Item: Consider and act upon an ordinance of the Town Council of the Town of Prosper, Texas, amending the budget for fiscal year 2013-2014 in accordance with existing statutory requirements and appropriating the various amounts referenced herein; making findings related thereto, providing repealing, savings and severability clauses; and providing for an effective date. 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 (UTRWD) 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 the Town’s $16 million share with debt; the remaining $3 million would be funded from cash in the Water/Sewer Fund. To accomplish this action, a budget amendment is needed. The proposed budget amendment ordinance would increase the Sewer Department expenditure budget by $3 million. At the appropriate time, the Town would transfer the $3 million to the UTRWD. Budget Impact: The budget amendment would reduce the reserves in the Water/Sewer fund by $3 million. As of September 30, 2013, the Fund possessed estimated unrestricted reserves of $8,027,285. Legal Obligations and Review: Terrence Welch of Brown & Hofmeister, L.L.P., prepared the attached ordinance. Attached Documents: 1. Ordinance amending the budget for fiscal year 2013-2014. Town Staff Recommendation: Staff recommends approval of an ordinance of the Town Council of the Town of Prosper, Texas, amending the budget for fiscal year 2013-2014 in accordance with existing statutory requirements and appropriating the various amounts referenced herein; making findings related Prosper is a place where everyone matters. FINANCE Item 12 Page 2 of 2 thereto, providing repealing, savings and severability clauses; and providing for an effective date. Proposed Motion: I move to approve an ordinance of the Town Council of the Town of Prosper, Texas, amending the budget for fiscal year 2013-2014 in accordance with existing statutory requirements and appropriating the various amounts referenced herein; making findings related thereto, providing repealing, savings and severability clauses; and providing for an effective date. Item 12 TOWN OF PROSPER, TEXAS ORDINANCE NO. 14-__ AN ORDINANCE OF THE TOWN COUNCIL OF THE TOWN OF PROSPER, TEXAS, AMENDING THE BUDGET FOR FISCAL YEAR 2014-2014 IN ACCORDANCE WITH EXISTING STATUTORY REQUIREMENTS AND APPROPRIATING THE VARIOUS AMOUNTS REFERENCED HEREIN; MAKING FINDINGS RELATED THERETO; PROVIDING REPEALING, SAVINGS AND SEVERABILITY CLAUSES; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the Town of Prosper, Texas (“Town”), is a Home-Rule Municipality located in Collin and Denton Counties, Texas; and WHEREAS, Section 7.09 of the Town Charter provides, in part, that the Town Council may amend the annual budget under conditions which may arise and which could not have been reasonably foreseen; and WHEREAS, the Town has been requested to provide funding for the construction of the Doe Branch wastewater treatment facility by the Upper Trinity Regional Water District; and WHEREAS, the Town and the Upper Trinity Regional Water District previously entered into an agreement in or about 2007 that provided for funding alternatives for the construction of the Doe Branch wastewater treatment facility; and WHEREAS, the Town has selected an alternative funding arrangement by which the Town will issue debt, rather than Upper Trinity Regional Water District, and pay cash from department funds, and as a consequence, the Town Council has determined that it is in the best interests of the Town to amend the Fiscal Year 2013–2014 budget to facilitate such payment of cash. NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF PROSPER, TEXAS, THAT: SECTION 1 The above and foregoing premises are true and correct and are incorporated herein and made a part hereof for all purposes. SECTION 2 From and after the effective date of this Ordinance, the Town’s 2013-2014 budget is hereby amended to increase expenditures in the Water/Sewer Fund by $3,000,000.00, specifically Line Item Account 20-5670-55-00, Sewer Department/System Improvements/Repairs, and the budget for Fiscal Year 2013–2014 is hereby accordingly so amended. SECTION 3 This Ordinance shall be cumulative of all other Ordinances and shall not repeal any of the provisions of said Ordinances except those instances where there are direct conflicts with the provisions of this Ordinance. Ordinances or parts thereof in force at the time this Ordinance Item 12 Ordinance No. 14-__, Page 2 shall take effect and that are inconsistent with this Ordinance are hereby repealed to the extent that they are inconsistent with this Ordinance. SECTION 4 If any section, article, paragraph, sentence, clause, phrase or word in this Ordinance, or application thereof to any person or circumstance, is held invalid or unconstitutional by a court of competent jurisdiction, such holding shall not affect the validity of the remaining portions of the Ordinance, and the Town Council hereby declares it would have passed such remaining portions of the Ordinance despite such invalidity, which remaining portions shall remain in full force and effect. SECTION 5 This Ordinance shall take effect and be in full force from and after its passage, as provided by the Revised Civil Statutes of the State of Texas. DULY PASSED, APPROVED, AND ADOPTED BY THE TOWN COUNCIL OF THE TOWN OF PROSPER, TEXAS, ON THIS 25TH DAY OF FEBRUARY, 2014. ___________________________________ Ray Smith, Mayor ATTEST: _________________________________ Robyn Battle, Town Secretary APPROVED AS TO FORM AND LEGALITY: _________________________________ Terrence S. Welch, Town Attorney Item 12 Page 1 of 1 To: Mayor and Town Council From: Chris Copple, AICP, Director of Development Services Through: Harlan Jefferson, Town Manager Re: Town Council Meeting – February 25, 2014 Agenda Item: Consider and act upon authorizing the Town Manager to execute a Fifth Amendment to the Preannexation Agreement between the Town of Prosper and TVG Texas I, LLC. Description of Agenda Item: The Town of Prosper entered into a Preannexation Agreement for approximately 2,100 acres with Forest City and Mahard Egg Farm on November 27, 2007, which has since been purchased by TVG Texas I, LLC. The Town Council approved the First Amendment to the Agreement on January 31, 2010, the Second Amendment to the Agreement on February 14, 2012, the Third Amendment to the Agreement on December 11, 2012, the Fourth Amendment to the Agreement on August 13, 2013, regarding the same items as this Fifth Amendment; the donation of the first elementary school site, the dedication of a 50-acre Community Park Site, and the payment of a $100,000 Community Park Grant. The payment of a $100,000 Community Park Grant was received by the Town by January 31, 2014, per the agreement. The Fifth Amendment extends the school dedication requirement to March 28, 2014, and the Community Park Dedication to April 30, 2014. Town staff is meeting with representatives of TVG Texas I, LLC on a regular basis to discuss various development issues, including, but not limited to, the location of the 50-acre community park and the elementary school site. Town staff understands the representatives of TVG Texas I, LLC have been in dialogue with Prosper ISD and they are in agreement with granting this extension. Attached Documents: 1. The Fifth Amendment to the Preannexation Agreement between the Town of Prosper and TVG Texas I, LLC. Town Staff Recommendation: Town staff recommends the Town Council authorize the Town Manager to execute a Fifth Amendment to the Preannexation Agreement between the Town of Prosper and TVG Texas I, LLC. Proposed Motion: I move to authorize the Town Manager to execute a Fifth Amendment to the Preannexation Agreement between the Town of Prosper and TVG Texas I, LLC. Prosper is a place where everyone matters. DEVELOPMENT SERVICES Item 13 Item 13 Item 13 Item 13 Item 13 Item 13 Item 13 Page 1 of 2 To: Mayor and Town Council From: Julie Shivers, Recreation Services Coordinator Through: Harlan Jefferson, Town Manager Re: Town Council Meeting – February 25, 2014 Agenda Item: Discussion on the Town Council strategic goal: Develop a plan for recreation programs to be offered by the Town. Description of Agenda Item: With the addition of a Recreation Services Coordinator to the Parks and Recreation Department staff in December 2013, the Parks and Recreation Department is actively pursuing partnerships to provide recreational opportunities for the community. The following programs are currently planned to be offered this spring:  Bricks4Kids – continuing program that was started summer 2013  Prosper Tennis Academy – starting March 4, 2014  “Fit 4 Mom” (Stroller Strides) – starting March 17, 2014  Kindermusik – starting March 18, 2014  100 mile walking challenge – in conjunction with the 100 year celebration in April 2014 In addition to the programs listed above, staff is actively working on implementing additional fitness classes, such as Boot Camp and Zumba, which are traditional programs designed to promote and encourage an active lifestyle. Upcoming this summer, staff will once again be partnering with Live and Prosper Magazine on their summer series program at Frontier Park as well as offering a summer adult softball league due to confirmation of field availability. Other possible traditional recreation programs being researched for this summer include sports camps/classes and arts/science/educational opportunities to contribute to the overall quality of life and well being of the community. Staff continues to receive requests from residents for a variety of programs traditionally offered by a Parks and Recreation Department. These include active adult programs, senior programs, fitness/sport classes and camps, aquatic programs/lessons (for communities that have an outdoor pool), and a variety of indoor recreational classes. PARKS & RECREATION Prosper is a place where everyone matters. Item 14 Page 2 of 2 In order to assist the Parks and Recreation Department on developing a plan for recreation programs to be offered by the Town, staff is requesting feedback from the Town Council on programs planned and any additional suggestions for other activities to be considered. Based on the requests received from the community and feedback from both the Parks and Recreation Board and Town Council, staff will present a plan for additional recreation programs to be offered by the Town based on availability of resources and facilities at the April 8, 2014, Town Council meeting. Parks and Recreation Board Recommendation: At previous meetings and most recently the February 13, 2014, Parks and Recreation Board meeting, Town staff discussed with the Parks and Recreation Board the recreation programs being offered and planned. The Parks and Recreation Board is very supportive of staff’s increased service to accommodate residents’ requests within the current abilities of the Town’s facilities and resources. Town Staff Recommendation: Town staff requests feedback from the Town Council on potential recreation programs they would like the Town to research for inclusion in a plan for recreation programs to be offered by the Town. Item 14