07.23.24 Town Council Meeting PresentationWelcome to the July 23, 2024,
Prosper Town Council Meeting
Call to Order/Roll Call
Invocation, Pledge of Allegiance, and Pledge to the
Texas Flag
Pledge to the Texas Flag
Honor the Texas flag; I pledge allegiance to thee,
Texas, one state under God, one and indivisible.
Announcements
Presentations
Agenda Item 1.
Proclamation declaring the month of August 2024 as Gun Safety
Awareness Month. (MLS)
Agenda Item 2.
Recognize Prosper Fire Rescue for receiving the Storm Ready
designation. (SB)
The National Weather Service recognizes
The Town of Prosper
as StormReady through August 31st, 2028.
Presented By:
Tom Bradshaw, Meteorologist-in-Charge
Sarah Barnes, Meteorologist
Fort Worth/Dallas National Weather Service Forecasting Office
Agenda Item 3.
Recognize Leslie Scott, Director of Library Services for her years
of dedicated service to the Town of Prosper. (RB)
Consent Agenda
Agenda Item 4.
Consider and act upon the minutes from the July 9, 2024, Town
Council Work Session meeting. (MLS)
Agenda Item 5.
Consider and act upon the minutes from the July 9, 2024, Town
Council Regular meeting. (MLS)
Agenda Item 6.
Consider acceptance of the June 2024 monthly financial report.
(CL)
Agenda Item 7.
Consider and act upon authorizing the Town Manager to approve
a purchase order to C & P Pump Services, Inc. in the amount of
$64,417 for the repairs to the pump at Whitley Place Park and to
execute documents related to the purchase. (DB)
Agenda Item 8.
Consider and act upon whether to direct staff to submit a written
notice of appeals on behalf of the Town Council to the
Development Services Department, pursuant to Chapter 4,
Section 1.5(C)(7) and 1.6(B)(7) of the Town’s Zoning Ordinance,
regarding action taken by the Planning & Zoning Commission on
Preliminary Site Plans and Site Plans. (DH)
Citizen Comments
Regular Agenda
Pursuant to Section 551.007 of the Texas Government Code,
individuals wishing to address the Council for items listed as public
hearings will be recognized when the public hearing is opened.
Agenda Item 9.
Consider all matters incident and related to the issuance and
sale of “Town of Prosper, Texas, Combination Tax and Surplus
Revenue Certificates of Obligation, Series 2024”, including the
adoption of an ordinance authorizing the issuance of such
obligations and establishing procedures and delegating authority
for the sale and delivery of such obligations. (CL)
Parameters for Issuance of $31,250,000 of Combination
Tax and Surplus Revenue Certificates of Obligation
•Parameters approach allows staff to choose best time to issue
which is currently planned for August 6th or later
•Key parameters include:
•Amount not to exceed $31,500,000;
•Rate not higher than 4.75% (Below 4% currently anticipated);
•Maximum maturity of 20 years.
Project Name Certificates of Obligation
Issuance
Wastewater Projects
Doe Branch Expansion, Phase 3 WWTP: 2322-WW $27,500,000
Doe Branch Parallel Interceptor: 2103-WW $3,750,000
TOTAL CO BOND ISSUANCE $31,250,000
Agenda Item 10.
Consider all matters incident and related to the issuance and sale
of “Town of Prosper, Texas, General Obligation Bonds, Series
2024”, including the adoption of an ordinance authorizing the
issuance of such obligations and establishing procedures and
delegating authority for the sale and delivery of such obligations.
(CL)
Parameters for Issuance of $36,407,062 of General
Obligation Bonds
•Parameters approach allows staff to choose best time to issue
which is currently planned for August 6th or later
•Key parameters include:
•Rate not higher than 4.75% (Below 4% currently anticipated)
•Maximum maturity of 20 years.
•Final maturity of February 15, 2044
•Debt Service property tax rate will remain approximately the same
Prop A Public Safety Amount
Fire Station #4 (Construction)10,200,000
Subtotal Public Safety $ 10,200,000
Prop B Parks and Recreation Projects Amount
2122-PK Raymond Park, Phase 1: (Construction)10,900,000
Subtotal Parks $ 10,900,000
Prop C Streets and Transportation Projects Amount
1512-ST First Street (DNT - Coleman): (Construction) 9,000,000
1710-ST Coit Road (First - Frontier) - 4 lanes: (Land/Esmt) 1,700,000
2153-ST Teel (US 380 - First St) - 2 NB lanes: (Construction)1,400,000
Legacy (First - Star Trail) - 2 NB lanes: (CO to 1st street)650,000
Braided Ramps (NTTA)2,557,062
Subtotal Streets $ 15,307,062
GRAND TOTAL $ 36,407,062
Agenda Item 11.
Consider all matters incident and related to the issuance and sale
of “Town of Prosper, Texas, Waterworks and Sewer System
Revenue Bonds, Series 2024”, including the adoption of an
ordinance authorizing the issuance of such bonds and
establishing procedures and delegating authority for the sale and
delivery of such bonds. (CL)
Parameters for Issuance of $31,250,000 of Revenue
Bonds
•Parameters approach allows staff to choose best time to issue
which is currently planned for August 6th or later
•Key parameters include:
•Amount not to exceed $33,100,000;
•True interest cost of 4.75% or less;
•Maximum maturity of 20 years.
Project Name Revenue Bonds Issuance
Wastewater Projects
Doe Branch Expansion, Phase 3 WWTP: 2322-WW $27,500,000
Doe Branch Parallel Interceptor: 2103-WW $3,750,000
TOTAL REVENUE BONDS ISSUANCE $31,250,000
Agenda Item 12.
Discuss and consider Town Council Subcommittee reports. (DFB)
Possibly direct Town Staff to schedule topic(s) for
discussion at a future meeting.
Executive Session
Section 551.087 – To discuss and consider economic development incentives and all
matters incident and related thereto.
Section 551.072 – To discuss and consider the purchase, exchange, lease, or value of
real property for municipal purposes and all matters incident and related thereto.
Section 551.074 – To discuss and consider personnel matters and all matters incident
and related thereto.
Section 551.071 – To consult with the Town Attorney regarding proposed amendments to
the sign ordinance.
The Town Council will reconvene after Executive
Session.
Reconvene into Regular Session and take any
action necessary as a result of the Closed Session.
Adjourn