2020-17 - RTOWN OF PROSPER, TEXAS RESOLUTION NO. 2020-17
A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF PROSPER,
TEXAS, CREATING A SPECIAL CITIZENS BOND ADVISORY COMMITTEE
FOR THE PROPOSED 2020 BOND ELECTION; ESTABLISHING A CHARGE
FOR THE COMMITTEE; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the Town of Prosper wishes to ask the citizens to consider authorizing
General Obligation bonds in November 2020 for the purpose of public improvements in the
community over the next ten years; and
WHEREAS, the Town Council has determined that it would be advisable to create a
Special Citizens Bond Advisory Committee to provide recommendations on the specific
projects that may be financed with the General Obligation bonds; and
WHEREAS, the Town Council requests that the Committee focus on public safety
facilities, major and local street construction, and purchase and development of parks,
recreation and leisure facilities; and
WHEREAS, the Town Council has asked staff to develop a prioritized list of projects
that addresses the Town Council's goals and strategies as a beginning point for committee
evaluation and consideration.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF
PROSPER, TEXAS, THAT:
SECTION 1
The findings set forth above are incorporated into the body of this Resolution as if fully set
forth herein.
SECTION 2
A Special Citizens Bond Advisory Committee is hereby created and shall be
composed of no more than fifteen residents of the Town of Prosper appointed at large by
Town Council. The Committee chair, or co- chairs, shall be appointed by the Committee
membership. Appointments made on February 25, 2020, and on any subsequent Town
Council meeting are hereby confirmed and accepted. The Committee shall perform its
functions in accordance with this Resolution.
SECTION 3
A Special Citizens Bond Advisory Committee shall make recommendations to the
Town Council on the dollar amounts and capital projects to be considered by the public in the
November 2020 election.
SECTION 4
The Town Council requests the Special Citizens Bond Advisory Committee to
consider inclusion of the construction, reconstruction or expansion of Town Streets in an
amount not to exceed 150 million dollars including, but not limited, to Fishtrap Road from
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Stuber Elementary to Dallas Parkway and East First Street from Coit Road to North Custer
Road in their recommended capital projects for the November 2020 election.
SECTION 5
The Town Council requests the Special Citizens Bond Advisory Committee to
consider inclusion of the construction or expansion of Public Safety Facilities in an amount
not to exceed 30 million dollars.
SECTION 6
The Town Council requests the Special Citizens Bond Advisory Committee to
consider inclusion of the construction, reconstruction, expansion or purchase of land for
parks, recreation and leisure facilities in an amount not to exceed 30 million dollars.
SECTION 7
The Town Council requests the Special Citizens Bond Advisory Committee to
recommend a 2020 ten-year bond program not to exceed $210 million in capital projects
costs. The bond program should take into account the Town's planned debt issuance over
the next three years adopted in the Town's FY 2019-2020 budget that will be separate and
apart from the proposed General Obligation Bonds.
SECTION 8
This Resolution shall become effective immediately upon its passage and approval.
The Special Citizens Bond Advisory Committee appointments will end, and the Special
Citizens Bond Advisory Committee shall be formally dissolved on November 4, 2020.
DULY PASSED AND APPROVED BY THE TOWN COUNCIL OF THE TOWN OF
PROSPER, TEXAS, ON THIS 25T" DAY OF FEBRUARY, 2020.
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Robyn $Wattle, Town
APPROVED AS TO FORM AND LEGALITY:
Terrence S. Welch, Town Attorney
Ray Smith,1 Mayor
Resolution No. 2020-17, Page 2