Agenda Packet 02/28/2023Town of Trophy Club
Amended Meeting Agenda
Packet
Town Council
1 Trophy Wood Drive
Trophy Club, Texas
76262
February 28, 2023 7:00 PM Council Chambers
CALL TO ORDER AND ANNOUNCE A QUORUM Mayor Fleury
INVOCATION led by Pastor Barry Clingan, The Church at Trophy Lakes
PLEDGES led by Council Member Oldham
Pledge of Allegiance to the American Flag.
Pledge of Allegiance to the Texas Flag.
PUBLIC COMMENT(S)
This is an opportunity for citizens to address the Council on any matter. The Council
is not permitted to discuss or take action on any presentations made. Presentations
are limited to matters over which the Council has authority. Speakers have up to four
(4) minutes or the time limit determined by the Presiding Officer. Each speaker must
have submitted their request to speak by completing the Speaker’s Form or may
email mayorandcouncil@trophyclub.org
ANNOUNCEMENTS AND REPORTS
1.Issuance of Proclamation 202305 proclaiming March as Traumatic Brain Injury
Awareness Month in Trophy Club (Mayor Fleury).
2.New NISD Superintendant Dr. Mark Foust (Mayor Fleury).
CONSENT AGENDA
3.Consider and take appropriate action to authorize an agreement for Indoor and
Outdoor Event Equipment Rental and Related Services between the Town of Trophy
Club and North Texas Five Star Events through a Request for Proposal (RFP) (T.
Jaramillo).
4.Consider and take appropriate action regarding repealing Resolution No. 202116 and
adopting a new Resolution amending the Investment Policy for the Town of Trophy
Club; and providing an effective date (W. Carroll).
5.Consider and take appropriate action regarding the Town Council Meeting Minutes
dated February 14, 2023 (A. Otterson)
INDIVIDUAL ITEMS
6.Case ME23002 (Mother’s Day Festival Banners Meritorious Exception)
Consider and take appropriate action on a Meritorious Exception for special purpose
signs for the Mother’s Day Art and Garden Festival to be located at the Trophy Club
Town Center (PD30) (M. Cox).
7.Discussion and direction for amending the special purpose sign ordinance (M. Cox).
8.Consider and take appropriate action, effective March 26, 2023, approving the Fiscal
Year 2022/23 Pay Plan, authorizing the Town Manager and/or his designeee to make
personnel salary adjustments, and adjusting the FY 2022/23 General Fund Operating
Budget by $178,000. (D. Deprato)
9.Consider and take appropriate action regarding the installation of designated parking
for veterans with disabilities (W. Carroll).
EXECUTIVE SESSION
10.Pursuant to the following designated section of the Texas Governmental Code,
Annotated, Chapter 551 (Texas Open Meetings Act), the Town Council will recess
into executive session to discuss the following:
a) Section 551.074 Personnel matters to deliberate the appointment, employment,
evaluation, reassignment, duties, discipline or dismissal of a public officer or
employee:
Mayor Pro Tem
b) Section 551.071 AttorneyClient Privilege – Consultation with the Town Attorney
regarding a complaint filed.
RECONVENE INTO REGULAR SESSION
11.Consider and take appropriate action regarding the appointment of the Mayor Pro
Tem; discussion of same (Mayor Fleury).
ADJOURN
One or more members of the Town Council may participate remotely using video
conferencing pursuant to Chapter 551 of the Texas Government Code.
The Town Council may convene into executive session to discuss posted items as allowed by
the Texas Open Meeting Act, LGC.551.071
CERTIFICATION
I certify that the above notice was posted on the bulletin board at Trophy Club Town Hall, 1
Trophy Wood Drive, Trophy Club, Texas, on Saturday, February 25, 2023 by 5:00 p.m. in
accordance with Chapter 551, Texas Government Code.
__________________________________
Anita Otterson
Town Secretary
If you plan to attend this public meeting and have a disability that requires special needs,
please contact the Town Secretary’s Office at 6822372900, 48 hours in advance, and
reasonable accommodations will be made to assist you.
1
Town of Trophy ClubAmended Meeting AgendaPacketTown Council 1 Trophy Wood DriveTrophy Club, Texas76262February 28, 2023 7:00 PM Council ChambersCALL TO ORDER AND ANNOUNCE A QUORUM Mayor FleuryINVOCATION led by Pastor Barry Clingan, The Church at Trophy Lakes PLEDGES led by Council Member OldhamPledge of Allegiance to the American Flag.Pledge of Allegiance to the Texas Flag.PUBLIC COMMENT(S)This is an opportunity for citizens to address the Council on any matter. The Councilis not permitted to discuss or take action on any presentations made. Presentationsare limited to matters over which the Council has authority. Speakers have up to four(4) minutes or the time limit determined by the Presiding Officer. Each speaker musthave submitted their request to speak by completing the Speaker’s Form or mayemail mayorandcouncil@trophyclub.orgANNOUNCEMENTS AND REPORTS1.Issuance of Proclamation 202305 proclaiming March as Traumatic Brain InjuryAwareness Month in Trophy Club (Mayor Fleury).2.New NISD Superintendant Dr. Mark Foust (Mayor Fleury).
CONSENT AGENDA
3.Consider and take appropriate action to authorize an agreement for Indoor and
Outdoor Event Equipment Rental and Related Services between the Town of Trophy
Club and North Texas Five Star Events through a Request for Proposal (RFP) (T.
Jaramillo).
4.Consider and take appropriate action regarding repealing Resolution No. 202116 and
adopting a new Resolution amending the Investment Policy for the Town of Trophy
Club; and providing an effective date (W. Carroll).
5.Consider and take appropriate action regarding the Town Council Meeting Minutes
dated February 14, 2023 (A. Otterson)
INDIVIDUAL ITEMS
6.Case ME23002 (Mother’s Day Festival Banners Meritorious Exception)
Consider and take appropriate action on a Meritorious Exception for special purpose
signs for the Mother’s Day Art and Garden Festival to be located at the Trophy Club
Town Center (PD30) (M. Cox).
7.Discussion and direction for amending the special purpose sign ordinance (M. Cox).
8.Consider and take appropriate action, effective March 26, 2023, approving the Fiscal
Year 2022/23 Pay Plan, authorizing the Town Manager and/or his designeee to make
personnel salary adjustments, and adjusting the FY 2022/23 General Fund Operating
Budget by $178,000. (D. Deprato)
9.Consider and take appropriate action regarding the installation of designated parking
for veterans with disabilities (W. Carroll).
EXECUTIVE SESSION
10.Pursuant to the following designated section of the Texas Governmental Code,
Annotated, Chapter 551 (Texas Open Meetings Act), the Town Council will recess
into executive session to discuss the following:
a) Section 551.074 Personnel matters to deliberate the appointment, employment,
evaluation, reassignment, duties, discipline or dismissal of a public officer or
employee:
Mayor Pro Tem
b) Section 551.071 AttorneyClient Privilege – Consultation with the Town Attorney
regarding a complaint filed.
RECONVENE INTO REGULAR SESSION
11.Consider and take appropriate action regarding the appointment of the Mayor Pro
Tem; discussion of same (Mayor Fleury).
ADJOURN
One or more members of the Town Council may participate remotely using video
conferencing pursuant to Chapter 551 of the Texas Government Code.
The Town Council may convene into executive session to discuss posted items as allowed by
the Texas Open Meeting Act, LGC.551.071
CERTIFICATION
I certify that the above notice was posted on the bulletin board at Trophy Club Town Hall, 1
Trophy Wood Drive, Trophy Club, Texas, on Saturday, February 25, 2023 by 5:00 p.m. in
accordance with Chapter 551, Texas Government Code.
__________________________________
Anita Otterson
Town Secretary
If you plan to attend this public meeting and have a disability that requires special needs,
please contact the Town Secretary’s Office at 6822372900, 48 hours in advance, and
reasonable accommodations will be made to assist you.
2
Town of Trophy ClubAmended Meeting AgendaPacketTown Council 1 Trophy Wood DriveTrophy Club, Texas76262February 28, 2023 7:00 PM Council ChambersCALL TO ORDER AND ANNOUNCE A QUORUM Mayor FleuryINVOCATION led by Pastor Barry Clingan, The Church at Trophy Lakes PLEDGES led by Council Member OldhamPledge of Allegiance to the American Flag.Pledge of Allegiance to the Texas Flag.PUBLIC COMMENT(S)This is an opportunity for citizens to address the Council on any matter. The Councilis not permitted to discuss or take action on any presentations made. Presentationsare limited to matters over which the Council has authority. Speakers have up to four(4) minutes or the time limit determined by the Presiding Officer. Each speaker musthave submitted their request to speak by completing the Speaker’s Form or mayemail mayorandcouncil@trophyclub.orgANNOUNCEMENTS AND REPORTS1.Issuance of Proclamation 202305 proclaiming March as Traumatic Brain InjuryAwareness Month in Trophy Club (Mayor Fleury).2.New NISD Superintendant Dr. Mark Foust (Mayor Fleury).CONSENT AGENDA3.Consider and take appropriate action to authorize an agreement for Indoor andOutdoor Event Equipment Rental and Related Services between the Town of TrophyClub and North Texas Five Star Events through a Request for Proposal (RFP) (T.Jaramillo).4.Consider and take appropriate action regarding repealing Resolution No. 202116 andadopting a new Resolution amending the Investment Policy for the Town of TrophyClub; and providing an effective date (W. Carroll).5.Consider and take appropriate action regarding the Town Council Meeting Minutesdated February 14, 2023 (A. Otterson)INDIVIDUAL ITEMS6.Case ME23002 (Mother’s Day Festival Banners Meritorious Exception)Consider and take appropriate action on a Meritorious Exception for special purposesigns for the Mother’s Day Art and Garden Festival to be located at the Trophy ClubTown Center (PD30) (M. Cox).7.Discussion and direction for amending the special purpose sign ordinance (M. Cox).8.Consider and take appropriate action, effective March 26, 2023, approving the FiscalYear 2022/23 Pay Plan, authorizing the Town Manager and/or his designeee to makepersonnel salary adjustments, and adjusting the FY 2022/23 General Fund OperatingBudget by $178,000. (D. Deprato)9.Consider and take appropriate action regarding the installation of designated parkingfor veterans with disabilities (W. Carroll).EXECUTIVE SESSION10.Pursuant to the following designated section of the Texas Governmental Code,Annotated, Chapter 551 (Texas Open Meetings Act), the Town Council will recessinto executive session to discuss the following:a) Section 551.074 Personnel matters to deliberate the appointment, employment,evaluation, reassignment, duties, discipline or dismissal of a public officer oremployee: Mayor Pro Temb) Section 551.071 AttorneyClient Privilege – Consultation with the Town Attorneyregarding a complaint filed.RECONVENE INTO REGULAR SESSION
11.Consider and take appropriate action regarding the appointment of the Mayor Pro
Tem; discussion of same (Mayor Fleury).
ADJOURN
One or more members of the Town Council may participate remotely using video
conferencing pursuant to Chapter 551 of the Texas Government Code.
The Town Council may convene into executive session to discuss posted items as allowed by
the Texas Open Meeting Act, LGC.551.071
CERTIFICATION
I certify that the above notice was posted on the bulletin board at Trophy Club Town Hall, 1
Trophy Wood Drive, Trophy Club, Texas, on Saturday, February 25, 2023 by 5:00 p.m. in
accordance with Chapter 551, Texas Government Code.
__________________________________
Anita Otterson
Town Secretary
If you plan to attend this public meeting and have a disability that requires special needs,
please contact the Town Secretary’s Office at 6822372900, 48 hours in advance, and
reasonable accommodations will be made to assist you.
3
Page 1 of 3
To: Mayor and Town Council
From: Tony Jaramillo, Director of Parks and Recreation
CC: Wade Carroll, Town Manager
Anita Otterson, Town Secretary
Re: Agreement for Indoor and Outdoor Event Equipment Rental and Related Services
Town Council Meeting, Tuesday, February 28, 2023
Agenda Item:
Consider and take appropriate action regarding the authorization of an agreement for Indoor
and Outdoor Event Equipment Rental and Related Services between the Town of Trophy Club
and North Texas Five Star Events through a Request for Proposal (RFP).
Strategic Link:
Nature & Beautification: Uphold the aesthetic appeal and beautification of the Town.
Background and Explanation:
Staff prepared and advertised a Request for Proposal (RFP) for Indoor and Outdoor Event
Equipment Rental and Related Services on January 4, 2023. The RFP included six (6) groups of
various event rental equipment; firms were asked to provide pricing for all groups, allowing the
Town to award one or multiple vendors if needed. This methodology provides the most flexibility
to the Town in selecting the best value for the RFP while obtaining competitive pricing. As a
result, three (3) proposals were received and reviewed by staff including our Finance
Department.
The RFP included various event rental equipment and related services which would only be
utilized by staff as requested and on an as-needed basis during the Town’s community events
prepared and hosted by staff. Staff evaluated the proposal’s based on a cost per unit and a
minimum requirement per unit. The RFP will allow the town to utilize the firm for goods and/or
services as the requirements and needs of the Town arise on an annual basis. The Town is not
obligated to a minimum or maximum requirement.
4
Page 2 of 3
Staff determined that North Texas Five Star Events was the most qualified and the most
competitive firm to provide the requested services. If approved, the agreement will commence
on March 1, 2023, and end September 30, 2023, and can be renewed for four (4) additional one-
year terms allowing for continuity of service while maximizing savings by engaging the firm for
multiple years. Additionally, to accommodate the potential impacts of inflation on rental
services, the contract only allows for an annual increase of up to 3%. Funding for rental and
related services for subsequent years will be implemented each year during the Town’s annual
budget process for Council’s consideration and approval.
Groups Marquees
Event Rentals Peerless Events North Texas
Five Star Events
Group 1: Outdoor Tents 12/14 13/14 12/14
Group 2: Outdoor Furniture 9/9 9/9 9/9
Group 3: Outdoor Accessories 10/22 10/22 16/22
Group 4: Portable Restrooms 0/6 1/6 5/6
Group 5: Indoor Accessories and
Catering Equipment 3/5 2/5 2/5
Group 6: Additional Charges 12/13 13/13 13/13
Total Proposals Provided by Each Firm 46/69 48/69 57/69
Groups Marquees
Event Rentals Peerless Events North Texas Five
Star Events
Group 1: Outdoor Tents**$35,726.52 $17,391.10 $1,885.00
Group 2: Outdoor Furniture $429.33 $312.90 $296.25
Group 3: Outdoor Accessories $936.67 $1,016.00 $1,693.00
Group 4: Portable Restrooms**No Bid $250.00 $3,335.00
Group 5: Indoor Accessories and
Catering Equipment $168.25 $103.00 $50.00
Group 6: Additional Charges $1,531.06 $3,758.50 $1,679.50
Total $38,791.83 $22,831.50 $8,938.75
** North Texas Five Star proposal for Group One was lower compared to the other proposals
because they do not provide large tent rentals.
** North Texas Five Star’s proposal for Group Four is higher compared to Peerless Events and
Tents and Marquee Event Rentals because they were able to provide a bid for all categories.
Please see attached Tabulation Sheet.
Estimated Renewal Totals
First Annual Renewal $39,955.59 $23,173.97 $9,206.91
Second Annual Renewal $41,154.25 $23,579.52 $9,483.12
Third Annual Renewal $42,388.88 $24,051.11 $9,767.61
Fourth Annual Renewal $43,660.55 $24,772.64 $10,060.64
5
Page 3 of 3
Financial Considerations:
This expense is budgeted for in the Community Events budget under Event Rentals. It was
included as part of the FY23 Approved Budget.
Legal Review:
The Town Attorney reviewed and approved the RFP.
Board/Commission/ or Committee Recommendation:
Not applicable
Staff Recommendation:
Staff recommends the authorization of the RFP for event equipment rental and related
services between the Town of Trophy Club and North Texas Five Star Events.
Attachments:
•North Texas Five Star Events RFP
•Peerless Events and Tents RFP
•Marquee Event Rentals RFP
•BID Tabulation
6
Page 1 of 8TOWN OF TROPHY CLUB
BID TABULATION FORM
Prepared By: Daniel Wilson
Prepared On: 7-Feb-23
DEPARTMENT:Parks & Recreation Company Name:Marquee Event Rentals Peerless Events North Texas Five Star Events,
LLCPROPOSAL DUE:3-Feb-23
RFP:202301 Contact Name:Tiffany Bell Terrena Jones Ty Grant
Contact Number:(214)458-0178 (512)786-5036 (940)320-9444
Physical Address:3200 Belmeade Drive
Carrollton, TX 75006
2250 Lion County Pkwy, 2, 160
Grand Prairie, TX 75050
2701 Hartlee Field Rd
Denton, TX 762068
GROUP 1 - OUTDOOR TENTS
Group Total $35,726.52 $17,391.10 $1,885.00
Item #1-1 10x10 Tent (Frame and Canopy w/ Stakes)$133.93 $157.50 $150.00
Item #1-2 10x20 Tent (Frame and Canopy w/ Stakes)$251.79 $216.00 $300.00
Item #1-3 20x20 Tent (Frame and Canopy w/ Stakes)$336.84 $540.00 $350.00
Item #1-4 10x30 Tent (Frame and Canopy w/ Stakes)$321.43 $297.00 $40.00
Item #1-5 30x30 Tent (Frame and Canopy w/ Stakes)$637.59 $931.50 $700.00
Item #1-6 60x150 Tent (Frame and Canopy w/ Stakes)$16,500.00 $6,075.00 NO BID
Item #1-7 80x120 Tent (Frame and Canopy w/ Stakes)$17,400.00 $8,675.10 NO BID
Item #1-8 Fire Package (Lighted Exit Sign, Lighted No
Smoking Sign, Fire Extinguisher)$52.02 $254.10 $50.00
Item #1-9 Sidewalls – 10’$13.13 $25.00 $20.00
Item #1-10 Sidewalls – 20’$25.25 $36.00 $40.00
Item #1-11 Sidewalls – 30’NO BID NO BID $60.00
Item #1-12 Side Walls 10x20 $33.94 $41.40 $40.00
Item #1-13 Sandbag Weight $20.60 $7.50 $15.00
Item #1-14 10x10 Pop-Up Tent w/ Stakes NO BID $135.00 $120.00
7
Page 2 of 8TOWN OF TROPHY CLUB
BID TABULATION FORM
Prepared By: Daniel Wilson
Prepared On: 7-Feb-23
DEPARTMENT:Parks & Recreation Company Name:Marquee Event Rentals Peerless Events North Texas Five Star Events,
LLCPROPOSAL DUE:3-Feb-23
RFP:202301 Contact Name:Tiffany Bell Terrena Jones Ty Grant
Contact Number:(214)458-0178 (512)786-5036 (940)320-9444
Physical Address:3200 Belmeade Drive
Carrollton, TX 75006
2250 Lion County Pkwy, 2, 160
Grand Prairie, TX 75050
2701 Hartlee Field Rd
Denton, TX 762068
GROUP 2 - OUTDOOR FURNITURE
Group Total $429.33 $312.90 $296.25
Item #2-1 Plastic Folding Rectangular 6 ft Table $10.05 $9.00 $9.95
Item #2-2 Plastic Folding Rectangular 8 ft Table $10.40 $10.80 $9.95
Item #2-3 Plastic Folding 6 ft Picnic Table $90.41 $77.40 $45.00
Item #2-4 Round Wood Cocktail Tale 36”$10.66 $12.60 $9.95
Item #2-5 Round Plastic Cocktail Table 36”$10.66 $12.60 $9.95
Item #2-6 Round Plastic Folding Table 48”$9.65 $8.10 $9.95
Item #2-7 Plastic Folding Chair $1.67 $1.50 $1.50
Item #2-8 Outdoor 6ft Portable Bar $109.08 $103.50 $75.00
Item #2-9 Outdoor 8ft Portable Bar $176.75 $77.40 $125.00
8
Page 3 of 8TOWN OF TROPHY CLUB
BID TABULATION FORM
Prepared By: Daniel Wilson
Prepared On: 7-Feb-23
DEPARTMENT:Parks & Recreation Company Name:Marquee Event Rentals Peerless Events North Texas Five Star Events,
LLCPROPOSAL DUE:3-Feb-23
RFP:202301 Contact Name:Tiffany Bell Terrena Jones Ty Grant
Contact Number:(214)458-0178 (512)786-5036 (940)320-9444
Physical Address:3200 Belmeade Drive
Carrollton, TX 75006
2250 Lion County Pkwy, 2, 160
Grand Prairie, TX 75050
2701 Hartlee Field Rd
Denton, TX 762068
GROUP 3 - OUTDOOR ACCESSORIES
Group Total $936.67 $1,016.00 $1,693.00
Item #3-1 Black Pull-Out Stanchion with 6 Foot
Retractable Belt $16.31 $25.00 $15.00
Item # 3-2 1,500-Watt Electric Stand Mount Patio Heater $156.05 $173.00 $125.00
Item #3-3 Port-A-Cool 24 Inch NO BID $200.00 $185.00
Item #3-4 Port-A-Cool 36 Inch NO BID $350.00 $210.00
Item #3-5 Mister $136.67 NO BID $50.00
Item #3-6 25KvW Low Noise Diesel Generator with Fuel
to Provide Full Capacity Operation for 8 Hours NO BID NO BID $550.00
Item #3-7 3000W Low Noise Diesel Generator with Fuel to
Provide Full Capacity Operation for 8 Hours NO BID NO BID $250.00
Item #3-8 Spider Box NO BID NO BID $50.00
Item #3-9 Temporary Chain-Link Fence Panel NO BID $36.00 $3.50
Item #3-10 Temporary Plastic Bicycle Fence NO BID $36.00 $3.50
Item #3-11 White Picket Fence Panel $26.77 $36.00 $5.00
Item #3-12 Black Deck Stage Panel 4’ x 4’ Adjustable
Height $40.40 $45.00 $95.00
Item #3-13 Black Deck Stage Panel 4’ x 8’ Adjustable
Height $85.85 NO BID $95.00
Item #3-14 Stage Skirt 4’ x 4’$15.15 $25.00 $3.00
Item #3-15 Stage Skirt 4’ x 8’$30.30 NO BID $3.00
Item #3-16 Stage Steps $85.85 $90.00 $50.00
9
Page 4 of 8
Item #3-17 20’ x 16’ Mobile Stage Trailer, Covered NO BID NO BID NO BID
Item #3-18 Two 8’ x 8’ Sound wings and One 8’ x 12’
Sound wing for Mobile Stage NO BID NO BID NO BID
Item #3-19 Ramp for Mobile Stage Trailer NO BID NO BID NO BID
Item #3-20
Standard Live 6+ Member Band Audio Package
(Assorted Microphones, Speakers, Mixer, and
Cables) for 2,000+ People
NO BID NO BID NO BID
Item #3-21 Standard Lighting Package (Professional
Chauvet, Par Fixtures, and Cables)$343.32 NO BID NO BID
Item #3-22
Standard Power Distribution Package
(Distributer, L21-30 Cables, 1’ End Quad, and
Cables)
NO BID NO BID NO BID
TOWN OF TROPHY CLUB
BID TABULATION FORM
Prepared By: Daniel Wilson
Prepared On: 7-Feb-23
DEPARTMENT:Parks & Recreation Company Name:Marquee Event Rentals Peerless Events North Texas Five Star Events,
LLCPROPOSAL DUE:3-Feb-23
RFP:202301 Contact Name:Tiffany Bell Terrena Jones Ty Grant
Contact Number:(214)458-0178 (512)786-5036 (940)320-9444
Physical Address:3200 Belmeade Drive
Carrollton, TX 75006
2250 Lion County Pkwy, 2, 160
Grand Prairie, TX 75050
2701 Hartlee Field Rd
Denton, TX 762068
GROUP 3 - OUTDOOR ACCESSORIES
10
Page 5 of 8TOWN OF TROPHY CLUB
BID TABULATION FORM
Prepared By: Daniel Wilson
Prepared On: 7-Feb-23
DEPARTMENT:Parks & Recreation Company Name:Marquee Event Rentals Peerless Events North Texas Five Star Events,
LLCPROPOSAL DUE:3-Feb-23
RFP:202301 Contact Name:Tiffany Bell Terrena Jones Ty Grant
Contact Number:(214)458-0178 (512)786-5036 (940)320-9444
Physical Address:3200 Belmeade Drive
Carrollton, TX 75006
2250 Lion County Pkwy, 2, 160
Grand Prairie, TX 75050
2701 Hartlee Field Rd
Denton, TX 762068
GROUP 4 - PORTABLE RESTROOMS
Group Total $250.00 $3,335.00
Item #4-1 Standard Porta-A-Potty NO BID NO BID $135.00
Item #4-2 ADA Porta-A-Potty NO BID NO BID $150.00
Item #4-3 Handwashing Station NO BID $250.00 $150.00
Item #4-4 4 Stall Restroom Trailer, Lighted and Air
Conditioned NO BID NO BID $1,400.00
Item #4-5 6 Stall Restroom Trailer, Lighted and Air
Conditioned NO BID NO BID $1,500.00
Item #4-6 ADA Restroom Trailer, Lighted and Air
Conditioned NO BID NO BID NO BID
11
Page 6 of 8TOWN OF TROPHY CLUB
BID TABULATION FORM
Prepared By: Daniel Wilson
Prepared On: 7-Feb-23
DEPARTMENT:Parks & Recreation Company Name:Marquee Event Rentals Peerless Events North Texas Five Star Events,
LLCPROPOSAL DUE:3-Feb-23
RFP:202301 Contact Name:Tiffany Bell Terrena Jones Ty Grant
Contact Number:(214)458-0178 (512)786-5036 (940)320-9444
Physical Address:3200 Belmeade Drive
Carrollton, TX 75006
2250 Lion County Pkwy, 2, 160
Grand Prairie, TX 75050
2701 Hartlee Field Rd
Denton, TX 762068
GROUP 5 - INDOOR ACCESSORIES AND CATERING EQUPIMENT
Group Total $168.25 $103.00 $50.00
Item #5-1 Remote Controlled Par 64 LED Battery Operated
Up lights with Charger $57.22 NO BID $25.00
Item #5-2 Slim Par 56 LED 120V Up lights with Charger $87.50 $45.00 NO BID
Item #5-3 Frozen Beverage Machine 8 Quart NO BID NO BID NO BID
Item #5-4 Frozen Beverage Machine 12 Quart NO BID NO BID NO BID
Item #5-5 5 Gallon Drink Container – Black $23.53 $58.00 $25.00
12
Page 7 of 8TOWN OF TROPHY CLUB
BID TABULATION FORM
Prepared By: Daniel Wilson
Prepared On: 7-Feb-23
DEPARTMENT:Parks & Recreation Company Name:Marquee Event Rentals Peerless Events North Texas Five Star Events,
LLCPROPOSAL DUE:3-Feb-23
RFP:202301 Contact Name:Tiffany Bell Terrena Jones Ty Grant 13-Dec
Contact Number:(214)458-0178 (512)786-5036 (940)320-9444
Physical Address:3200 Belmeade Drive
Carrollton, TX 75006
2250 Lion County Pkwy, 2, 160
Grand Prairie, TX 75050
2701 Hartlee Field Rd
Denton, TX 762068
GROUP 6 - ADDITIONAL CHARGES
Group Total $1,531.06 $3,758.50 $1,679.50
Item #6-1 After Hours Delivery Fee $400.00 $800.00 $350.00
Item #6-2 Timed Delivery $375.00 $200.00 $350.00
Item #6-3 Delivery Fee Monday thru Friday, 8 AM – 5 PM $150.00 $210.00 $150.00
Item #6-4 Fuel Surcharge Fee NO BID $35.00 $150.00
Item #6-5 Chair Set Up $1.01 $0.75 $0.75
Item #6-6 Table No Linen Set Up Fee $1.77 $1.00 $1.50
Item #6-9 Teardown Chair Fee $1.01 $0.75 $0.75
Item #6-10 Teardown Table Fee $1.77 $1.00 $1.50
Item #6-11 Additional Labor Fee If Required $50.50 $1,500.00 $175.00
Item #6-12 Pick Up Fee Monday thru Friday, 8 AM – 5 PM $150.00 $210.00 $150.00
Item #6-13 After-Hours Pick Up Fee $400.00 $800.00 $350.00
13
Page 8 of 8TOWN OF TROPHY CLUB
BID TABULATION FORM
Prepared By: Daniel Wilson
Prepared On: 7-Feb-23
DEPARTMENT:Parks & Recreation Company Name:Marquee Event Rentals Peerless Events North Texas Five Star Events,
LLCPROPOSAL DUE:3-Feb-23
RFP:202301 Contact Name:Tiffany Bell Terrena Jones Ty Grant
Contact Number:(214)458-0178 (512)786-5036 (940)320-9444
Physical Address:3200 Belmeade Drive
Carrollton, TX 75006
2250 Lion County Pkwy, 2, 160
Grand Prairie, TX 75050
2701 Hartlee Field Rd
Denton, TX 762068
SUMMARY
Group Totals
Group 1 - Outdoor Tents $35,726.52 $17,391.10 $1,885.00
Group 2 - Outdoor Furniture $429.33 $312.90 $296.25
Group 3 - Outdoor Accessories $936.67 $1,016.00 $1,693.00
Group 4 - Portable Restrooms $-$250.00 $3,335.00
Group 5 - Indoor Accessories and Catering Equipment $168.25 $103.00 $50.00
Group 6 - Additional Charges $1,531.06 $3,758.50 $1,679.50
Total Estimated Cost First Year $38,791.83 $22,831.50 $8,938.75
Additional Year Escalation Percentage
First Additional Year Escalation Percentage 3%1.50%3%
Second Additional Year Escalation Percentage 3%1.75%3%
Third Additional Year Escalation Percentage 3%2.00%3%
Fourth Additional Year Escalation Percentage 3%3.00%3%
Renewal Estimated Totals
First Renewal Estimated Cost $39,955.59 $23,173.97 $9,206.91
Second Renewal Estimated Cost $41,154.25 $23,579.52 $9,483.12
Third Renewal Estimated Cost $42,388.88 $24,051.11 $9,767.61
Fourth Renewal Estimated Cost $43,660.55 $24,772.64 $10,060.64
Estimated 5 Year Total $205,951.10 $118,408.74 $47,457.0414
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To: Mayor and Town Council
From: Wade L. Carroll, Town Manager
CC: April Duvall, Director of Finance
Anita Otterson, Town Secretary
Ernest Gillespie, Chief Financial Analyst
Re: Investment Policy Review
Town Council Meeting, February 28, 2023
Agenda Item:
Consider and take appropriate action regarding repealing Resolution No. 2021-16 and adopting
a new Resolution amending the Investment Policy for the Town of Trophy Club; and providing
an effective date (W. Carroll).
Explanation:
In accordance with the Town of Trophy Club Investment Policy and the Public Funds Investment
Act, the Town Manager designates his designee and/or the Finance Director and the Chief
Financial Analyst as the Town of Trophy Club’s Investment Officers. Overall, the policy remains
strong and complies with the PFIA. Only minor housekeeping changes are proposed to the policy
at this time.
Financial Considerations:
Not Applicable.
Legal Review:
Not Applicable.
Board/Commission/or Committee Recommendation:
Not Applicable.
Staff Recommendation:
Staff recommends approval of Resolution No. 2023-01 as presented.
Attachments:
•Resolution No. 2023-01
174
TOWN OF TROPHY CLUB
RESOLUTION NO. 2023-01
A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF TROPHY
CLUB, TEXAS REPEALING RESOLUTION NO. 2021-16 AND
APPROVING A NEW RESOLUTION ADOPTING AN INVESTMENT
POLICY FOR FUNDS FOR THE TOWN OF TROPHY CLUB, A COPY OF
WHICH IS ATTACHED HERETO AND INCORPORATED HEREIN AS
EXHIBIT “A”; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, on November 11, 2021 by passage of Resolution 2021-16, the Town
Council adopted an Investment Policy; and
WHEREAS, by passage of this Resolution, the Town Council hereby repeals
Resolution No. 2021-16 in its entirety and adopts this Resolution adopting a new
Investment Policy; and
WHEREAS, the Town Council has reviewed the Investment Policy attached hereto
as Exhibit “A”, for compliance with the Public Funds Investment Act, Texas Government
Code Chapter 2256. et seq.; and
WHEREAS, upon consideration, the Town Council finds and determines it to be in
the best interests of the Town to adopt Exhibit “A” as the Town’s Investment Policy.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE
TOWN OF TROPHY CLUB:
Section 1. That Resolution No. 2021-16 is hereby repealed in its entirety.
Section 2. That the Town Council has reviewed the attached Investment Policy,
which contains investment strategies and policies that the Council has determined to be
beneficial to the Town and hereby adopts the attached Investment Policy set forth in
Exhibit “A”, a copy of which is attached hereto and incorporated herein in its entirety.
Section 3. That the Town Manager's designee and/or Finance Director and the
Chief Financial Analyst are hereby designated as the Town’s primary investment officers
to perform the functions required by the attached policy, and the investment officers is
hereby authorized to perform the functions required under the Investment Policy and
Chapter 2256 of the Texas Government Code.
Section 4. That this Resolution shall take effect immediately upon its passage and
approval.
175
RES 2023-01 Page 2 of 3
PASSED and APPROVED by the Town Council of the Town of Trophy Club,
Texas on this 28th day of February 2023.
Alicia L. Fleury, Mayor
Town of Trophy Club, Texas
ATTEST:
Anita Otterson, Town Secretary
Town of Trophy Club, Texas
APPROVED TO AS FORM:
J. David Dodd III, Town Attorney
Town of Trophy Club, Texas
[SEAL]
176
RES 2023-01 Page 3 of 3
EXHIBIT “A”
177
TOWN OF TROPHY CLUB
INVESTMENT POLICY
I.POLICY
It is the policy of the Town of Trophy Club that after allowing for the anticipated cash flow requirements of
the Town of Trophy Club and giving due consideration to the safety and risk of investment, all available
funds shall be invested in conformance with these legal and administrative guidelines, seeking to optimize
interest earnings to the maximum extent possible.
Effective cash management is recognized as essential to good fiscal management. Investment interest is
a source of revenue to Trophy Club funds. Trophy Club’s investment portfolio shall be designed and
managed in a manner to maximize this revenue source, to be responsive to public trust, and to be in
compliance with legal requirements and limitations.
Investments shall be made with the primary objectives of:
Safety and preservation of principal
Maintenance of sufficient liquidity to meet operating needs
Public trust from prudent investment activities
Optimization of interest earnings on the portfolio
II.PURPOSE
The purpose of this Investment Policy is to comply with Chapter 2256 of the Government Code (“Public
Funds Investment Act” or “PFIA”), which requires the Town of Trophy Club to adopt a written investment
policy regarding the investment of its funds and funds under its control. The Investment Policy addresses
the methods, procedures and practices that must be exercised to ensure effective and judicious fiscal
management of Trophy Club’s funds.
III.SCOPE
This Investment Policy shall govern the investment of all financial assets of the Town of Trophy Club. These
funds are accounted for in the Town of Trophy Club’s Annual Comprehensive Financial Report (ACFR)
and include:
•General Fund
•Special Revenue Funds
•Capital Projects Funds
•Proprietary Funds
•Debt Service Funds, including reserves and sinking funds, to the extent not required by law
or existing contract to be kept segregated and managed separately
•Any new fund created by the Town of Trophy Club, unless specifically exempted from this Policy by
the Town Council or by law
The Town of Trophy Club consolidates fund cash balances to maximize investment earnings. Investment
income will be allocated to the various funds based on their respective participation and in accordance with
generally accepted accounting principles.
This Investment Policy shall apply to all transactions involving the financial assets and related activity for
all the foregoing funds. However, this Policy does not apply to the assets administered for the benefit of
the Town of Trophy Club by outside agencies under deferred compensation programs.178
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IV.INVESTMENT OBJECTIVES
The Town of Trophy Club shall manage and invest its cash with four primary objectives, listed in order of
priority: safety, liquidity, public trust, and yield, expressed as optimization of interest earnings. The safety
of the principal invested always remains the primary objective. All investments shall be designed and
managed in a manner responsive to the public trust and consistent with state and local law.
The Town of Trophy Club shall maintain a comprehensive cash management program, which includes
collection of accounts receivable, vendor payments in accordance with the Town’s purchasing policies, and
prudent investment of available cash. Cash management is defined as the process of managing monies in
order to ensure maximum cash availability and maximum earnings on short-term investment of idle cash.
Safety [PFIA 2256.005(b)(2)]
Safety of principal is the foremost objective of the investment program. Investments shall be undertaken
in a manner that seeks to ensure the preservation of capital in the overall portfolio. The objective will be
to mitigate credit and interest rate risk.
Credit Risk and Concentration of Credit Risk – The Town of Trophy Club will minimize credit risk, the
risk of loss due to the failure of the issuer or backer of the investment, and concentration of credit risk,
the risk of loss attributed to the magnitude of investment in a single issuer, by:
•Limiting investments to the safest types of investments.
•Pre-qualifying the financial institutions and broker/dealers with which the Town of Trophy Club
will do business.
•Diversifying the investment portfolio so that potential losses on individual issuers will
be minimized.
Interest Rate Risk – the Town of Trophy Club will manage the risk that the interest earnings and the
market value of investments in the portfolio will fall due to changes in general interest rates by limiting
the maximum weighted average maturity of the investment portfolio to 365 days. The Town of Trophy
Club will, in addition:
•Structure the investment portfolio so that investments mature to meet cash requirements for
ongoing operations, thereby avoiding the need to liquidate investments prior to maturity.
•Invest operating funds primarily in financial institution deposits, shorter-term securities, money
market mutual funds, or local government investment pools functioning as money market mutual
funds.
•Diversify maturities and stagger purchase dates to minimize the impact of market movements
over time.
Liquidity [PFIA 2256.005(b)(2)]
The investment portfolio shall remain sufficiently liquid to meet all operating requirements that may be
reasonably anticipated. This is accomplished by structuring the portfolio so that investments mature
concurrent with cash needs to meet anticipated demands. Because all possible cash demands cannot be
anticipated, a portion of the portfolio will be invested in shares of money market mutual funds, local
government investment pools, or other cash equivalents that offer same-day liquidity.
Public Trust
All participants in the Town of Trophy Club’s investment process shall seek to act responsibly as custodians
of the public trust. The Investment Officers shall avoid any transaction that might impair public confidence
in the Town of Trophy Club’s ability to govern effectively.
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Yield (Optimization of Interest Earnings) [PFIA 2256.005(b)(3)]
The investment portfolio shall be designed with the objective of attaining a market rate of return throughout
budgetary and economic cycles, taking into account the investment risk constraints and liquidity needs.
Return on investment is of secondary importance compared to the safety and liquidity objectives described
above.
V.INVESTMENT STRATEGY STATEMENTS
The Town of Trophy Club portfolio will be structured to benefit from anticipated market conditions and to
achieve a reasonable return. Relative value among asset groups shall be analyzed and pursued as part
of the investment program within the restrictions set forth by the Investment Policy.
The Town of Trophy Club maintains portfolios which utilize four specific investment strategy considerations
designed to address the unique characteristics of the fund groups represented in the portfolios.
Operating Funds
Suitability - All investments authorized in the Investment Policy are suitable for Operating Funds.
Preservation and Safety of Principal - All investments shall be of high quality with no perceived default risk.
Liquidity - Investment strategies for the Operating Funds have as their primary objective to assure that
anticipated cash flows are matched with adequate investment liquidity. The dollar-weighted average
maturity of operating funds, based on the stated final maturity date of each investment, will be calculated
and limited to one year or less. Constant $1.0000 net asset value investment pools and money market
mutual funds, and other cash equivalents shall be integral components to maintaining daily liquidity.
Investments for these funds shall not exceed a 24-month period from date of purchase.
Marketability - Securities with active and efficient secondary markets will be purchased in the event of an
unanticipated cash requirement.
Diversification - Maturities shall be staggered throughout the budget cycle to provide cash flows based on
anticipated needs. Investment risks will be reduced through diversification among authorized investments.
Yield - The Town’s objective is to attain a competitive market yield for comparable securities and portfolio
constraints. The benchmark for Operating Funds shall be the rolling three-month Treasury yield.
Reserve and Deposit Funds
Suitability - All investments authorized in the Investment Policy are suitable for Reserve and Deposit Funds.
Preservation and Safety of Principal - All investments shall be of high quality with no perceived default risk.
180
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Liquidity - Investment strategies for Reserve and Deposit Funds shall have as the primary objective the
ability to generate a dependable revenue stream to the appropriate reserve fund from investments with a
low degree of volatility. Except as may be required by the bond ordinance specific to an individual issue,
investments should be of high quality, with short-to-intermediate-term maturities. The dollar-weighted
average maturity of Reserve and Deposit Funds, based on the stated final maturity date of each investment,
will be calculated and limited to two years or less.
Marketability - Securities with active and efficient secondary markets will be purchased in the event of an
unanticipated cash requirement.
Diversification - Maturities shall be staggered throughout the budget cycle to provide cash flows based on
anticipated needs. Investment risks will be reduced through diversification among authorized investments.
Yield - The Town’s objective is to attain a competitive market yield for comparable securities and portfolio
constraints. The benchmark for Reserve and Deposit Funds shall be the rolling three-month Treasury yield.
Bond and Certificate Capital Project Funds and Special Purpose Funds
Suitability - All investments authorized in the Investment Policy are suitable for Bond and Certificate Capital
Project Funds and Special Purpose Funds.
Preservation and Safety of Principal - All investments shall be of high quality with no perceived default risk.
Liquidity - Investment strategies for Bond and Certificate Capital Project Funds and Special Purpose Funds
portfolios will have as their primary objective to assure that anticipated cash flows are matched with
adequate investment liquidity. The stated final maturity dates of investments held should not exceed the
estimated project completion date or a maturity of no greater than three years. The dollar-weighted average
maturity of Bond and Certificate Capital Project Funds and Special Purpose Funds, based on the stated
final maturity date of each investment, will be calculated and limited to two years or less.
Marketability - Securities with active and efficient secondary markets will be purchased in the event of an
unanticipated cash requirement.
Diversification - Maturities shall be staggered throughout the budget cycle to provide cash flows based on
anticipated needs. Investment risks will be reduced through diversification among authorized investments.
Yield - The Town’s objective is to attain a competitive market yield for comparable securities and portfolio
constraints. The benchmark for Bond and Certificate Capital Project Funds and Special Purpose Funds
shall be the rolling three-month Treasury yield. A secondary objective of these funds is to achieve a yield
equal to or greater than the arbitrage yield of the applicable bond or certificate, when reasonable
considering safety and liquidity objectives.
Debt Service Funds
Suitability - All investments authorized in the Investment Policy are suitable for Debt Service Funds.
Preservation and Safety of Principal - All investments shall be of high quality with no perceived default risk.
Liquidity - Investment strategies for Debt Service Funds shall have as the primary objective the assurance
of investment liquidity adequate to cover the debt service obligation on the required payment date.
Investments shall not have a stated final maturity date which exceeds the next unfunded debt service
payment date. The dollar-weighted average maturity of Debt Service Funds, based on the stated final
maturity date of each investment, will be calculated and limited to one year or less.
Marketability - Securities with active and efficient secondary markets will be purchased in the event of an
unanticipated cash requirement.
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Diversification - Maturities shall be staggered throughout the budget cycle to provide cash flows based on
anticipated needs. Investment risks will be reduced through diversification among authorized investments.
Yield - The Town’s objective is to attain a competitive market yield for comparable securities and portfolio
constraints. The benchmark for Debt Service Funds shall be the rolling three-month Treasury yield.
VI.RESPONSIBILITY AND CONTROL
Delegation of Authority [PFIA 2256.005(f)]
In accordance with the Town of Trophy Club and the Public Funds Investment Act, the Town Council
designates the Town Manager's designee and/or Finance Director and the Chief Financial Analyst as the
Town of Trophy Club’s Investment Officers. The Town Manager's designee and/or Finance Director is
responsible for the overall management of the Town’s investment program and may direct the other
Investment Officer in his/her duties. The Investment Officers are authorized to deposit, withdraw, invest,
transfer, execute documentation, and otherwise manage funds on behalf of the Town of Trophy Club
according to this Policy. Unless authorized by law, no other person may deposit, withdraw, transfer or
manage in any other manner the Town of Trophy Club funds. The investment authority granted to the
Investment Officers is effective until rescinded.
Quality and Capability of Investment Management [PFIA 2256.005(b)(3)]
The Town of Trophy Club shall provide periodic training in investments for the designated Investment
Officers and other investment personnel through courses and seminars offered by professional
organizations, associations, and other independent sources in order to ensure the quality and capability of
investment management in compliance with the Public Funds Investment Act.
Training Requirement [PFIA 2256.008 – Local Governments]
In accordance with the Town of Trophy Club and the Public Funds Investment Act, designated Investment
Officers shall attend investment training no less often than once every two years and shall accumulate not
less than 8 hours of instruction relating to investment responsibilities. A newly appointed Investment Officer
must attend training accumulating at least 10 hours of instruction within twelve months of the date the
Officer took office or assumed the Officer’s duties. The investment training sessions shall be provided by
independent sources approved by the Investment Committee, and must include education in investment
controls, security risks, strategy risks, market risks, diversification of investment portfolio, and compliance
with the PFIA.
Internal Controls (Best Practice)
The Investment Officers are responsible for establishing and maintaining an internal control structure
designed to ensure that the assets of the Town of Trophy Club are protected from loss, theft, or misuse.
The internal control structure shall be designed to provide reasonable assurance that these objectives are
met. The concept of reasonable assurance recognizes that (1) the cost of a control should not exceed the
benefits likely to be derived; and (2) the valuation of costs and benefits requires estimates and judgments
by management.
Accordingly, the Investment Officers shall establish a process for annual independent review by an external
auditor to assure compliance with policies and procedures. The internal controls shall address the following
points.
•Avoidance of collusion.
•Separation of transactions authority from accounting and recordkeeping.
•Custodial safekeeping.
•Avoidance of physical delivery securities.
•Clear delegation of authority to subordinate staff members.
•Written confirmation for telephone (voice) transactions for investments and wire transfers.182
9
•Development of a wire transfer agreement with the depository bank or third-party custodian.
Investment Policy Certification [PFIA 2256.005(k-l)]
A qualified representative, as defined by PFIA section 2256.002(10), of all business organizations, as
defined by PFIA section 2256.005(k) as local government investment pools and discretionary investment
management firms, must sign a certification acknowledging that the organization has received and reviewed
the Town of Trophy Club’s Investment Policy and that reasonable procedures and controls have been
implemented to preclude investment transactions that are not authorized by the Town of Trophy Club’s
Policy except to the extent that the authorization is dependent on an analysis of the makeup of the Town's
entire portfolio, requires an interpretation of subjective investment standards, or relates to investment
transactions of the Town that are not made through accounts or other contractual arrangements over which
the business organization has accepted discretionary investment authority. The Town shall not enter into
an investment transaction with a business organization prior to receiving the signed certification.
Prudence [PFIA 2256.006]
The standard of care to be applied by the Investment Officers shall be the “prudent person” rule. This rule
states that “Investments shall be made with judgment and care, under prevailing circumstances, that a
person of prudence, discretion and intelligence would exercise in the management of the person’s own
affairs, not for speculation, but for investment, considering the probable safety of capital and the probable
income to be derived.” In determining whether an Investment Officer has exercised prudence with respect
to an investment decision, the determination shall be made taking into consideration:
•The investment of all funds, or funds under the Town of Trophy Club’s control, over which the Officer
had responsibility rather than a consideration as to the prudence of a single investment.
•Whether the investment decision was consistent with the written, approved Investment Policy of the
Town of Trophy Club.
Indemnification
The Investment Officers, acting in accordance with written procedures and exercising due diligence, shall
not be held personally responsible for a specific investment’s credit risk or market price changes, provided
that these deviations are reported immediately and the appropriate action is taken to control adverse
developments.
Ethics and Conflicts of Interest [PFIA 2256.005(i)]
Officers and employees involved in the investment process shall refrain from personal business activity that
would conflict with the proper execution and management of the investment program, or that would impair
their ability to make impartial decisions. Investment Committee members shall refrain from undertaking
personal investment transactions with the same individual with which business is conducted on behalf of
the Town of Trophy Club.
An Investment Officer of the Town of Trophy Club who has a personal business relationship with an
organization seeking to sell an investment to the Town of Trophy Club shall file a statement disclosing that
personal business interest. An Investment Officer who is related within the second degree by affinity or
consanguinity to an individual seeking to sell an investment to the Town of Trophy Club shall file a statement
disclosing that relationship. A statement required under this subsection must be filed with the Texas Ethics
Commission and the Town Council.
VII.SUITABLE AND AUTHORIZED INVESTMENTS
Portfolio Management
The Town of Trophy Club currently has a “buy and hold” portfolio strategy. Maturity dates are matched 183
10
with cash flow requirements and investments are purchased with the intent to be held until maturity.
However, investments may be liquidated prior to maturity for the following reasons:
•An investment with declining credit maybe liquidated early to minimize loss of principal.
•Cash flow needs of the Town of Trophy Club require that the investment be liquidated.
Investments [PFIA 2256.005(b)(4)(A)]
Trophy Club funds governed by this Policy may be invested in the instruments described below, all of
which are authorized by the Public Funds Investment Act. Investment of Town of Trophy Club funds in
any instrument or security not authorized for investment under the Act is prohibited. The Town of Trophy
Club will not be required to liquidate an investment that becomes unauthorized subsequent to its purchase.
I.Authorized
1.Obligations, including letters of credit, of the United States, its agencies and instrumentalities,
including the Federal Home Loan Banks.
2.Direct obligations of the State of Texas, its agencies and instrumentalities or obligations of
agencies, counties, cities, and other political subdivisions of this State rated as to investment quality
by a nationally recognized investment rating firm of not less than “A” or its equivalent.
3.Other obligations, the principal and interest of which are unconditionally guaranteed or insured by,
or backed by the full faith and credit of, the State of Texas or the United States or their respective
agencies and instrumentalities, including obligations that are fully guaranteed or insured by the
Federal Deposit Insurance Corporation or by the explicit full faith and credit of the United States.
4.Certificates of Deposit and other forms of deposit issued by a depository institution that has its main
office or a branch office in Texas. The deposit must be guaranteed or insured by the Federal
Deposit Insurance Corporation (“FDIC”) or its successor, or the National Credit Union Share
Insurance Fund (“NCUSIF”) or its successor, or secured by obligations in a manner and amount as
provided by law. In addition, deposits obtained through a depository institution that has its main
office or a branch office in Texas and that contractually agrees to place the funds in federally
insured depository institutions in accordance with the conditions prescribed in Section 2256.010(b)
of the Public Funds Investment Act are authorized investments. Funds may also be invested by the
Town through a broker that has a main office or branch office in Texas and is selected from a list
approved by the Town as required by section 2656.025 of the Public Funds Investment Act or a
depository institution that has a main office or branch office in Texas and is selected by the Town
are authorized investments if the following conditions are met:
a.the broker or depository institution selected by the Town as specified above arranges
for the deposit of the funds in one or more federally insured depository institutions,
wherever located, for the account of the Town;
b.the full amount of the principal and accrued interest of each deposit is insured by the
United States or an instrumentality of the United States; and
c.the Town appoints a depository bank or a clearing broker registered with the Securities
and Exchange Commission Rule 15c-3 (17CFR, Section 240 15c3-3) as custodian for
the Town with respect to the deposit issued for account to the Town.
5.Fully collateralized direct repurchase agreements with a defined termination date secured by
obligations of the United States or its agencies and instrumentalities. These shall be pledged to the
Town of Trophy Club, held in an account in the Town of Trophy Club’s name, and deposited at the
time the investment is made with the Town of Trophy Club or with a third-party selected and approved
by the Town of Trophy Club. Repurchase agreements must be purchased through a primary
government securities dealer, as defined by the Federal Reserve, or a financial institution doing
business in Texas. A Master Repurchase Agreement, or similar agreement, must be signed prior to
investment in a repurchase agreement. Securities received for repurchase agreements must have a
184
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market value greater than or equal to 102 percent at the time funds are disbursed. (This section
pertains to Sweep Accounts and/or Bond Proceeds)
6.No-Load Money Market Mutual funds that: 1) are registered and regulated by the Securities and
Exchange Commission and provide a prospectus and other information required by the Securities
and Exchange Act of 1934 (15 U.S.C. Section 78a) or the Investment Company Act of 1940 (15
U.S.C. Section 80a-1), and 2) seek to maintain a stable net asset value of $1.0000 per share.
7.Local government investment pools, which 1) meet the requirements of Chapter 2256.016 of the
Public Funds Investment Act, 2) are rated no lower than AAA or an equivalent rating by at least
one nationally recognized rating service, and 3) are authorized by resolution or ordinance by the
Town Council. In addition, a local government investment pool created to function as a money
market mutual fund must mark its portfolio to the market daily and, to the extent reasonably
possible, stabilize at a $1.0000 net asset value.
If an investment in the Town’s portfolio becomes an unauthorized investment due to changes in the
Investment Policy or the Public Funds Investment Act, or an authorized investment is rated in a way that
causes it to become an unauthorized investment, the Investment Committee of the Town shall review the
investment and determine whether it would be more prudent to hold the investment until its maturity, or to
redeem the investment. The Investment Committee shall consider the time remaining until maturity of the
investment, the quality of the investment, and the quality and amounts of any collateral which may be
securing the investment in determining the appropriate steps to take. [PFIA 2256.021].
II.Not Authorized [PFIA 2256.009(b)(1-4)]
Investments including interest-only or principal-only strips of obligations with underlying mortgage-backed
security collateral, collateralized mortgage obligations with an inverse floating interest rate or a maturity
date of over 10 years are strictly prohibited.
VIII.INVESTMENT PARAMETERS
Maximum Maturities [PFIA 2256.005(b)(4)(B)]
The longer the maturity of investments, the greater their potential price volatility. Therefore, it is the Town
of Trophy Club’s policy to concentrate its investment portfolio in shorter-term investments in order to limit
principal risk caused by changes in interest rates.
The Town of Trophy Club attempts to match its investments with anticipated cash flow requirements. The
Town of Trophy Club will not directly invest for more than three years from the date of purchase; however,
the above described obligations, certificates, or agreements may be collateralized using longer dated
investments.
Because no secondary market exists for repurchase agreements, the maximum maturity shall be 120 days
except in the case of a flexible repurchase agreement for bond proceeds. The maximum maturity for such
an investment shall be determined in accordance with project cash flow projections and the requirements
of the governing bond ordinance.
The composite portfolio will have a weighted average maturity of 365 days or less. The dollar-weighted
average maturity will be calculated using the stated final maturity dates of each security. [PFIA
2256.005(b)(4)(C)].
Diversification [PFIA 2256.005(b)(3)]
The Town of Trophy Club recognizes that investment risks can result from issuer defaults, market price
changes or various technical complications leading to temporary illiquidity. Risk is managed through
portfolio diversification that shall be achieved by the following general guidelines:
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•Limiting investments to avoid overconcentration in investments from a specific issuer or business sector
(excluding U.S. Treasury securities and financial institution deposits that are fully insured and
collateralized in accordance with state and federal law),
•Limiting investments that have higher credit risk,
•Utilizing investments with varying maturities, and
•Continuously investing a portion of the portfolio in readily available funds such as local government
investment pools (LGIPs), money market accounts, money market funds, or overnight repurchase
agreements to ensure that appropriate liquidity is maintained in order to meet ongoing obligations.
IX.SELECTION OF BANKS AND DEALERS
Depository
At least every five years a Depository shall be selected through the Town of Trophy Club’s banking services
procurement process, which shall include a formal request for application (RFA). The selection of a
depository will be determined by competitive application and evaluation of applications will be based on the
most advantageous terms and conditions for the handling of Town funds.
Authorized Brokers/Dealers [PFIA 2256.025]
The Town of Trophy Club Investment Committee (see Section XIII) shall, at least annually, review, revise,
and approve a list of qualified broker/dealers authorized to engage in securities transactions with the Town
of Trophy Club. Authorized firms may include primary dealers or regional dealers that qualify under
Securities & Exchange Commission Rule 15C3-1 (Uniform Net Capital Rule).
Competitive Environment
It is the policy of the Town of Trophy Club to provide a competitive environment for all investment activities.
The Investment Officers shall develop and maintain procedures for ensuring competition in the investment
of the Town of Trophy Club’s funds and are authorized to solicit bids for investments orally, in writing,
electronically, or in any combination of these methods.
Delivery vs. Payment [PFIA 2256.005(b)(4)(E)]
Securities shall be purchased using the delivery vs. payment method. Funds will be released after
notification that the purchased security has been received.
X.SAFEKEEPING AND CUSTODY
Safekeeping and Custodial Agreements
The Town of Trophy Club shall contract with a bank or banks for the safekeeping of securities either owned
by the Town of Trophy Club as part of its investment portfolio or held as collateral to secure demand or time
deposits. Securities owned by the Town of Trophy Club shall be held in an account in the Town of Trophy
Club’s name as evidenced by safekeeping receipts of the institution holding the securities. Original
safekeeping receipts shall be obtained and held by the Town.
Collateral for deposits will be held by a third-party custodian designated by the Town of Trophy Club and
pledged to the Town of Trophy Club as evidenced by pledge receipts of the institution with which the
collateral is deposited. Collateral may be held by the depository bank’s trust department, a Federal Reserve
Bank or branch of a Federal Reserve Bank, a Federal Home Loan Bank, or a third-party bank approved by
the Town of Trophy Club.
Collateral Policy [PFCA 2257.023]
Consistent with the requirements of the Public Funds Collateral Act, it is the policy of the Town of Trophy 186
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Club to require full collateralization of all non-insured Town of Trophy Club funds on deposit with a financial
institution and a written depository agreement acceptable to the Town. The market value of the securities
collateralizing the deposit of funds shall be at least equal to 102% of the principal and accrued interest on
the deposits less an amount insured by the FDIC or NCUSIF. Collateral in the form of letters of credit
issued by the Federal Home Loan Bank must be equal to 100% of the principal and anticipated interest of
deposits less the applicable level of FDIC insurance. At its discretion, the Town of Trophy Club may require
a higher level of collateralization for certain investment securities held as collateral. Securities pledged as
collateral shall be held by an independent third-party with whom the Town of Trophy Club has a current
custodial agreement. The Investment Officers are responsible for entering into collateralization agreements
with third-party custodians in compliance with this Policy. The agreements are to specify the acceptable
investment securities for collateral, including provisions relating to possession of the collateral, the
substitution or release of investment securities, ownership of securities, and the method of valuation of
securities. A clearly marked evidence of pledge must be supplied to the Town of Trophy Club and retained.
Collateral shall be reviewed at least monthly to assure that the market value of the pledged securities are
adequate.
The custodial portion of the depository agreement shall define the Town’s rights to the collateral in case of
default, bankruptcy or closing and shall establish a perfected security interest in compliance with Federal
and State regulations, including:
•The Agreement must be in writing;
•The Agreement must be executed by the depository and the Town contemporaneously with the
acquisition of the asset;
•The Agreement must be approved by the board of directors or the loan committee of the depository
and a copy of the meeting minutes must be delivered to the Town; and
•The Agreement must be part of the depository’s “official record” continuously since its execution.
Collateral Defined
The Town of Trophy Club shall accept only the following types of collateral:
•Obligations of the United States or its agencies and instrumentalities
•Direct obligations of the State of Texas or its agencies and instrumentalities
•Collateralized mortgage obligations directly issued by a federal agency or instrumentality of the
United States, the underlying security for which is guaranteed by an agency or instrumentality of the
United States
•Obligations of states, agencies, counties, cities, and other political subdivisions of any state rated as
to investment quality by a nationally recognized rating firm not less than A or its equivalent with a
remaining maturity of ten (10) years or less
•A surety bond issued by an insurance company rated as to investment quality by a nationally
recognized rating firm not less than A
•A letter of credit issued by the Federal Home Loan Bank
Subject to Audit
All collateral shall be subject to inspection and audit by the Investment Officers or their designee, Including
the Town of Trophy Club’s independent auditors.
XI.PERFORMANCE
Performance Standards
The Town of Trophy Club’s investment portfolio will be managed in accordance with the parameters
specified within this Policy. The portfolio shall be designed with the objective of obtaining a market rate of
return through budgetary and economic cycles, commensurate with the investment risk constraints and the
cash flow requirements of the Town of Trophy Club.
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Performance Benchmark
It is the policy of the Town of Trophy Club to purchase investments with maturity dates coinciding with cash
flow needs. Through this strategy, the Town of Trophy Club shall seek to optimize interest earnings utilizing
allowable investments available in the market at that time. The Town of Trophy Club’s portfolio shall be
designed with the objective of regularly meeting or exceeding the benchmark(s) as appropriate per the
investment strategy statements. Weighted Average Yield to Maturity shall be the standard for calculating
portfolio rate of return.
XII.REPORTING [PFIA 2256.023]
Methods
The Investment Officers shall prepare a written investment report on a quarterly basis that summarizes
investment strategies employed in the most recent quarter and describes the portfolio in terms of
investment securities, maturities, and shall explain the total investment return for the quarter.
The quarterly investment report shall include a summary statement of investment activity prepared in
compliance with the PFIA. This summary will be prepared in a manner that will allow the Town of Trophy
Club to ascertain whether investment activities during the reporting period have conformed to the
Investment Policy. The report will be provided to the Town Council and signed by the Investment Officers.
The report will include the following:
•A listing of individual investments held at the end of the reporting period.
•Unrealized gains or losses resulting from appreciation or depreciation by listing the beginning and
ending book and market value of investments for the period.
•Additions and changes to the market value during the period.
•Average weighted yield to maturity of portfolio as compared to applicable benchmarks.
•Listing of investments by maturity date.
•Fully accrued interest for the reporting period.
•The percentage of the total portfolio that each type of investment represents.
•Statement of compliance of the Town of Trophy Club’s investment portfolio with state law and the
investment strategy and policy approved by the Town Council.
An independent auditor will perform a formal annual review of the quarterly reports with the results reported
to the Town Council [PFIA 2256.023(d)].
Monitoring Market Value [PFIA 2256.005(b)(4)(D)]
Market value of all securities in the portfolio will be determined at least on a quarterly basis. These values
will be obtained from a reputable and independent source and disclosed to the Town Council quarterly in
a written report.
XIII.INVESTMENT COMMITTEE
Members
An Investment Committee, consisting of the Town Manager and the Investment Officers, shall review the
Town’s investment strategies and monitor the results of the investment program periodically. This review
can be done by reviewing the quarterly written reports and by holding committee meetings as necessary.
The committee will be authorized to invite other advisors to attend meetings as needed.
Scope
The Investment Committee shall include in its deliberations such topics as economic outlook, investment
strategies, portfolio diversification, maturity structure, potential risk to the Town’s funds, evaluation and 188
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authorization of broker/dealers, acceptable training sources, rate of return on the investment portfolio, and
review of compliance with the Investment Policy. The Investment Committee will also advise the Town
Council of any future amendments to the Investment Policy that are deemed necessary or recommended.
Procedures
The Investment Policy shall require the Investment Committee to provide minutes of investment
information discussed at any meetings held. The committee shall meet at least annually to discuss the
investment program and policy.
XIV.INVESTMENT POLICY ADOPTION [PFIA 2256.005(e)]
The Town of Trophy Club’s Investment Policy shall be adopted by resolution of the Town Council. It is the
Town of Trophy Club’s intent to comply with state laws and regulations. The Town of Trophy Club’s
Investment Policy shall be subject to revisions consistent with changing laws, regulations, and needs of
the Town of Trophy Club. The Town Council shall adopt a resolution stating that it has reviewed the policy
and investment strategies not less than annually, approving any changes or modifications.
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TOWN OF TROPHY CLUB
APPROVED INDEPENDENT TRAINING SOURCES
American Institute of Certified Public Accountants
Council of Governments
International City/County Management Association
Government Finance Officers Association
Government Finance Officers Association of Texas
Government Treasurers’ Organization of Texas
Texas City Management Association
Texas Municipal Clerks Association
Texas Municipal League
University of North Texas Center for Public Management
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TOWN OF TROPHY CLUB
LIST OF AUTHORIZED BROKER/DEALERS
Financial Northeastern Companies
Main Contact: Steven Azzato
sazzato@financialnortheastern.com
100 Passaic Avenue
Fairfield, NJ 07004
(973) 396-1043
Frost Capital Markets
Main Contact: Cody Hundley
100 West Houston Street, Suite 110
San Antonio, TX 78205
(210) 220-6156
FHN Financial
Main Contact: John “Buddy” Saragusa
Buddy.saragusa@fhnfinancial.com
920 Memorial City Way, 11th Floor
Houston, TX 77024
(713) 435-4375
Multi-Bank Securities
Main Contact: Carol Mackoff
cmackoff@mbssecurities.com
20 North Wacker Drive, Suite 1829
Chicago, IL 60606
(888) 857-4740
Wells Fargo Securities
Main Contact: Chuck Landry
Chuck.landry@wellsfargo.com
1445 Ross Avenue, Suite 420
Dallas, TX 75202
(214) 777-4018
Town is approving firm name. Individual representative data for informational purposes only.
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TOWN OF TROPHY CLUB
RESOLUTION NO. 2021-16
A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF TROPHY
CLUB, TEXAS REPEALING RESOLUTION NO. 2020-202021-16 AND
APPROVING A NEW RESOLUTION ADOPTING AN INVESTMENT
POLICY FOR FUNDS FOR THE TOWN OF TROPHY CLUB, A COPY OF
WHICH IS ATTACHED HERETO AND INCORPORATED HEREIN AS
EXHIBIT “A”; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, on November 1711, 2020 2021 by passage of Resolution 2020-
202021-16, the Town Council adopted an Investment Policy; and
WHEREAS, by passage of this Resolution, the Town Council hereby repeals
Resolution No. 2020-202021-16 in its entirety and adopts this Resolution adopting a new
Investment Policy; and
WHEREAS, the Town Council has reviewed the Investment Policy attached hereto
as Exhibit “A”, for compliance with the Public Funds Investment Act, Texas Government
Code Chapter 2256. et seq.; and
WHEREAS, upon consideration, the Town Council finds and determines it to be in
the best interests of the Town to adopt Exhibit “A” as the Town’s Investment Policy.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE
TOWN OF TROPHY CLUB:
Section 1. That Resolution No. 2020-202021-16 is hereby repealed in its entirety.
Section 2. That the Town Council has reviewed the attached Investment Policy,
which contains investment strategies and policies that the Council has determined to be
beneficial to the Town and hereby adopts the attached Investment Policy set forth in
Exhibit “A”, a copy of which is attached hereto and incorporated herein in its entirety.
Section 3. That the Town Manager's designee and/or Finance ManagerFinance
Director and the Chief Financial Analyst are hereby designated as the Town’s primary
investment officers to perform the functions required by the attached policy, and the
investment officers is hereby authorized to perform the functions required under the
Investment Policy and Chapter 2256 of the Texas Government Code.
Section 4. That this Resolution shall take effect immediately upon its passage and
approval.
Commented [JH1]: Update for new Resolution number
for title and footers
192
RES 2019-555 Page 2 of 3
PASSED and APPROVED by the Town Council of the Town of Trophy Club,
Texas on this 11th day of November 2021.
Alicia L. Fleury, Mayor
Town of Trophy Club, Texas
ATTEST:
Anita OttersonLeticia Vacek,
Town Secretary
Town of Trophy Club, Texas
APPROVED TO AS FORM:
J. David Dodd III, Town Attorney
Town of Trophy Club, Texas
[SEAL]
Commented [JH2]: Update for council date
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RES 2019-555 Page 3 of 3
EXHIBIT “A”
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TOWN OF TROPHY CLUB
INVESTMENT POLICY
I.POLICY
It is the policy of the Town of Trophy Club that after allowing for the anticipated cash flow requirements of
the Town of Trophy Club and giving due consideration to the safety and risk of investment, all available
funds shall be invested in conformance with these legal and administrative guidelines, seeking to optimize
interest earnings to the maximum extent possible.
Effective cash management is recognized as essential to good fiscal management. Investment interest is
a source of revenue to Trophy Club funds. Trophy Club’s investment portfolio shall be designed and
managed in a manner to maximize this revenue source, to be responsive to public trust, and to be in
compliance with legal requirements and limitations.
Investments shall be made with the primary objectives of:
Safety and preservation of principal
Maintenance of sufficient liquidity to meet operating needs
Public trust from prudent investment activities
Optimization of interest earnings on the portfolio
II.PURPOSE
The purpose of this Investment Policy is to comply with Chapter 2256 of the Government Code (“Public
Funds Investment Act” or “PFIA”), which requires the Town of Trophy Club to adopt a written investment
policy regarding the investment of its funds and funds under its control. The Investment Policy addresses
the methods, procedures and practices that must be exercised to ensure effective and judicious fiscal
management of Trophy Club’s funds.
III.SCOPE
This Investment Policy shall govern the investment of all financial assets of the Town of Trophy Club. These
funds are accounted for in the Town of Trophy Club’s Annual Comprehensive Financial Report (ACFR)
and include:
•General Fund
•Special Revenue Funds
•Capital Projects Funds
•Proprietary Funds
•Debt Service Funds, including reserves and sinking funds, to the extent not required by law
or existing contract to be kept segregated and managed separately
•Any new fund created by the Town of Trophy Club, unless specifically exempted from this Policy by
the Town Council or by law
The Town of Trophy Club consolidates fund cash balances to maximize investment earnings. Investment
income will be allocated to the various funds based on their respective participation and in accordance with
generally accepted accounting principles.
This Investment Policy shall apply to all transactions involving the financial assets and related activity for
all the foregoing funds. However, this Policy does not apply to the assets administered for the benefit of
the Town of Trophy Club by outside agencies under deferred compensation programs.
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IV.INVESTMENT OBJECTIVES
The Town of Trophy Club shall manage and invest its cash with four primary objectives, listed in order of
priority: safety, liquidity, public trust, and yield, expressed as optimization of interest earnings. The safety
of the principal invested always remains the primary objective. All investments shall be designed and
managed in a manner responsive to the public trust and consistent with state and local law.
The Town of Trophy Club shall maintain a comprehensive cash management program, which includes
collection of accounts receivable, vendor payments in accordance with the Town’s purchasing policies, and
prudent investment of available cash. Cash management is defined as the process of managing monies in
order to ensure maximum cash availability and maximum earnings on short-term investment of idle cash.
Safety [PFIA 2256.005(b)(2)]
Safety of principal is the foremost objective of the investment program. Investments shall be undertaken
in a manner that seeks to ensure the preservation of capital in the overall portfolio. The objective will be
to mitigate credit and interest rate risk.
Credit Risk and Concentration of Credit Risk – The Town of Trophy Club will minimize credit risk, the
risk of loss due to the failure of the issuer or backer of the investment, and concentration of credit risk,
the risk of loss attributed to the magnitude of investment in a single issuer, by:
•Limiting investments to the safest types of investments.
•Pre-qualifying the financial institutions and broker/dealers with which the Town of Trophy Club
will do business.
•Diversifying the investment portfolio so that potential losses on individual issuers will
be minimized.
Interest Rate Risk – the Town of Trophy Club will manage the risk that the interest earnings and the
market value of investments in the portfolio will fall due to changes in general interest rates by limiting
the maximum weighted average maturity of the investment portfolio to 365 days. The Town of Trophy
Club will, in addition:
•Structure the investment portfolio so that investments mature to meet cash requirements for
ongoing operations, thereby avoiding the need to liquidate investments prior to maturity.
•Invest operating funds primarily in financial institution deposits, shorter-term securities, money
market mutual funds, or local government investment pools functioning as money market mutual
funds.
•Diversify maturities and stagger purchase dates to minimize the impact of market movements
over time.
Liquidity [PFIA 2256.005(b)(2)]
The investment portfolio shall remain sufficiently liquid to meet all operating requirements that may be
reasonably anticipated. This is accomplished by structuring the portfolio so that investments mature
concurrent with cash needs to meet anticipated demands. Because all possible cash demands cannot be
anticipated, a portion of the portfolio will be invested in shares of money market mutual funds, local
government investment pools, or other cash equivalents that offer same-day liquidity.
Public Trust
All participants in the Town of Trophy Club’s investment process shall seek to act responsibly as custodians
of the public trust. The Investment Officers shall avoid any transaction that might impair public confidence
in the Town of Trophy Club’s ability to govern effectively.
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Yield (Optimization of Interest Earnings) [PFIA 2256.005(b)(3)]
The investment portfolio shall be designed with the objective of attaining a market rate of return throughout
budgetary and economic cycles, taking into account the investment risk constraints and liquidity needs.
Return on investment is of secondary importance compared to the safety and liquidity objectives described
above.
V.INVESTMENT STRATEGY STATEMENTS
The Town of Trophy Club portfolio will be structured to benefit from anticipated market conditions and to
achieve a reasonable return. Relative value among asset groups shall be analyzed and pursued as part
of the investment program within the restrictions set forth by the Investment Policy.
The Town of Trophy Club maintains portfolios which utilize four specific investment strategy considerations
designed to address the unique characteristics of the fund groups represented in the portfolios.
Operating Funds
Suitability - All investments authorized in the Investment Policy are suitable for Operating Funds.
Preservation and Safety of Principal - All investments shall be of high quality with no perceived default risk.
Liquidity - Investment strategies for the Operating Funds have as their primary objective to assure that
anticipated cash flows are matched with adequate investment liquidity. The dollar-weighted average
maturity of operating funds, based on the stated final maturity date of each investment, will be calculated
and limited to one year or less. Constant $1.0000 net asset value investment pools and money market
mutual funds, and other cash equivalents shall be integral components to maintaining daily liquidity.
Investments for these funds shall not exceed a 24-month period from date of purchase.
Marketability - Securities with active and efficient secondary markets will be purchased in the event of an
unanticipated cash requirement.
Diversification - Maturities shall be staggered throughout the budget cycle to provide cash flows based on
anticipated needs. Investment risks will be reduced through diversification among authorized investments.
Yield - The Town’s objective is to attain a competitive market yield for comparable securities and portfolio
constraints. The benchmark for Operating Funds shall be the rolling three-month Treasury yield.
Reserve and Deposit Funds
Suitability - All investments authorized in the Investment Policy are suitable for Reserve and Deposit Funds.
Preservation and Safety of Principal - All investments shall be of high quality with no perceived default risk.
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Liquidity - Investment strategies for Reserve and Deposit Funds shall have as the primary objective the
ability to generate a dependable revenue stream to the appropriate reserve fund from investments with a
low degree of volatility. Except as may be required by the bond ordinance specific to an individual issue,
investments should be of high quality, with short-to-intermediate-term maturities. The dollar-weighted
average maturity of Reserve and Deposit Funds, based on the stated final maturity date of each investment,
will be calculated and limited to two years or less.
Marketability - Securities with active and efficient secondary markets will be purchased in the event of an
unanticipated cash requirement.
Diversification - Maturities shall be staggered throughout the budget cycle to provide cash flows based on
anticipated needs. Investment risks will be reduced through diversification among authorized investments.
Yield - The Town’s objective is to attain a competitive market yield for comparable securities and portfolio
constraints. The benchmark for Reserve and Deposit Funds shall be the rolling three-month Treasury yield.
Bond and Certificate Capital Project Funds and Special Purpose Funds
Suitability - All investments authorized in the Investment Policy are suitable for Bond and Certificate Capital
Project Funds and Special Purpose Funds.
Preservation and Safety of Principal - All investments shall be of high quality with no perceived default risk.
Liquidity - Investment strategies for Bond and Certificate Capital Project Funds and Special Purpose Funds
portfolios will have as their primary objective to assure that anticipated cash flows are matched with
adequate investment liquidity. The stated final maturity dates of investments held should not exceed the
estimated project completion date or a maturity of no greater than three years. The dollar-weighted average
maturity of Bond and Certificate Capital Project Funds and Special Purpose Funds, based on the stated
final maturity date of each investment, will be calculated and limited to two years or less.
Marketability - Securities with active and efficient secondary markets will be purchased in the event of an
unanticipated cash requirement.
Diversification - Maturities shall be staggered throughout the budget cycle to provide cash flows based on
anticipated needs. Investment risks will be reduced through diversification among authorized investments.
Yield - The Town’s objective is to attain a competitive market yield for comparable securities and portfolio
constraints. The benchmark for Bond and Certificate Capital Project Funds and Special Purpose Funds
shall be the rolling three-month Treasury yield. A secondary objective of these funds is to achieve a yield
equal to or greater than the arbitrage yield of the applicable bond or certificate, when reasonable
considering safety and liquidity objectives.
Debt Service Funds
Suitability - All investments authorized in the Investment Policy are suitable for Debt Service Funds.
Preservation and Safety of Principal - All investments shall be of high quality with no perceived default risk.
Liquidity - Investment strategies for Debt Service Funds shall have as the primary objective the assurance
of investment liquidity adequate to cover the debt service obligation on the required payment date.
Investments shall not have a stated final maturity date which exceeds the next unfunded debt service
payment date. The dollar-weighted average maturity of Debt Service Funds, based on the stated final
maturity date of each investment, will be calculated and limited to one year or less.
Marketability - Securities with active and efficient secondary markets will be purchased in the event of an
unanticipated cash requirement.
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Diversification - Maturities shall be staggered throughout the budget cycle to provide cash flows based on
anticipated needs. Investment risks will be reduced through diversification among authorized investments.
Yield - The Town’s objective is to attain a competitive market yield for comparable securities and portfolio
constraints. The benchmark for Debt Service Funds shall be the rolling three-month Treasury yield.
VI.RESPONSIBILITY AND CONTROL
Delegation of Authority [PFIA 2256.005(f)]
In accordance with the Town of Trophy Club and the Public Funds Investment Act, the Town Council
designates the Town Manager's designee and/or Finance Manager Finance Director and the Chief
Financial Analyst as the Town of Trophy Club’s Investment Officers. The Town Manager's designee and/or
Finance ManagerFinance Director is responsible for the overall management of the Town’s investment
program and may direct the other Investment Officer in his/her duties. The Investment Officers are
authorized to deposit, withdraw, invest, transfer, execute documentation, and otherwise manage funds on
behalf of the Town of Trophy Club according to this Policy. Unless authorized by law, no other person may
deposit, withdraw, transfer or manage in any other manner the Town of Trophy Club funds. The investment
authority granted to the Investment Officers is effective until rescinded.
Quality and Capability of Investment Management [PFIA 2256.005(b)(3)]
The Town of Trophy Club shall provide periodic training in investments for the designated Investment
Officers and other investment personnel through courses and seminars offered by professional
organizations, associations, and other independent sources in order to ensure the quality and capability of
investment management in compliance with the Public Funds Investment Act.
Training Requirement [PFIA 2256.008 – Local Governments]
In accordance with the Town of Trophy Club and the Public Funds Investment Act, designated Investment
Officers shall attend investment training no less often than once every two years and shall accumulate not
less than 8 hours of instruction relating to investment responsibilities. A newly appointed Investment Officer
must attend training accumulating at least 10 hours of instruction within twelve months of the date the
Officer took office or assumed the Officer’s duties. The investment training sessions shall be provided by
independent sources approved by the Investment Committee, and must include education in investment
controls, security risks, strategy risks, market risks, diversification of investment portfolio, and compliance
with the PFIA.
Internal Controls (Best Practice)
The Investment Officers are responsible for establishing and maintaining an internal control structure
designed to ensure that the assets of the Town of Trophy Club are protected from loss, theft, or misuse.
The internal control structure shall be designed to provide reasonable assurance that these objectives are
met. The concept of reasonable assurance recognizes that (1) the cost of a control should not exceed the
benefits likely to be derived; and (2) the valuation of costs and benefits requires estimates and judgments
by management.
Accordingly, the Investment Officers shall establish a process for annual independent review by an external
auditor to assure compliance with policies and procedures. The internal controls shall address the following
points.
•Avoidance Control of collusion.
•Separation of transactions authority from accounting and recordkeeping.
•Custodial safekeeping.
•Avoidance of physical delivery securities.
•Clear delegation of authority to subordinate staff members.
•Written confirmation for telephone (voice) transactions for investments and wire transfers.
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•Development of a wire transfer agreement with the depository bank or third-party custodian.
Investment Policy Certification [PFIA 2256.005(k-l)]
A qualified representative, as defined by PFIA section 2256.002(10), of all business organizations, as
defined by PFIA section 2256.005(k) as local government investment pools and discretionary investment
management firms, must sign a certification acknowledging that the organization has received and reviewed
the Town of Trophy Club’s Investment Policy and that reasonable procedures and controls have been
implemented to preclude investment transactions that are not authorized by the Town of Trophy Club’s
Policy except to the extent that the authorization is dependent on an analysis of the makeup of the Town's
entire portfolio, requires an interpretation of subjective investment standards, or relates to investment
transactions of the Town that are not made through accounts or other contractual arrangements over which
the business organization has accepted discretionary investment authority. The Town shall not enter into
an investment transaction with a business organization prior to receiving the signed certification.
Prudence [PFIA 2256.006]
The standard of care to be applied by the Investment Officers shall be the “prudent person” rule. This rule
states that “Investments shall be made with judgment and care, under prevailing circumstances, that a
person of prudence, discretion and intelligence would exercise in the management of the person’s own
affairs, not for speculation, but for investment, considering the probable safety of capital and the probable
income to be derived.” In determining whether an Investment Officer has exercised prudence with respect
to an investment decision, the determination shall be made taking into consideration:
•The investment of all funds, or funds under the Town of Trophy Club’s control, over which the Officer
had responsibility rather than a consideration as to the prudence of a single investment.
•Whether the investment decision was consistent with the written, approved Investment Policy of the
Town of Trophy Club.
Indemnification
The Investment Officers, acting in accordance with written procedures and exercising due diligence, shall
not be held personally responsible for a specific investment’s credit risk or market price changes, provided
that these deviations are reported immediately and the appropriate action is taken to control adverse
developments.
Ethics and Conflicts of Interest [PFIA 2256.005(i)]
Officers and employees involved in the investment process shall refrain from personal business activity that
would conflict with the proper execution and management of the investment program, or that would impair
their ability to make impartial decisions. Investment Committee members shall refrain from undertaking
personal investment transactions with the same individual with which business is conducted on behalf of
the Town of Trophy Club.
An Investment Officer of the Town of Trophy Club who has a personal business relationship with an
organization seeking to sell an investment to the Town of Trophy Club shall file a statement disclosing that
personal business interest. An Investment Officer who is related within the second degree by affinity or
consanguinity to an individual seeking to sell an investment to the Town of Trophy Club shall file a statement
disclosing that relationship. A statement required under this subsection must be filed with the Texas Ethics
Commission and the Town Council.
VII.SUITABLE AND AUTHORIZED INVESTMENTS
Portfolio Management
The Town of Trophy Club currently has a “buy and hold” portfolio strategy. Maturity dates are matched
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with cash flow requirements and investments are purchased with the intent to be held until maturity.
However, investments may be liquidated prior to maturity for the following reasons:
•An investment with declining credit maybe liquidated early to minimize loss of principal.
•Cash flow needs of the Town of Trophy Club require that the investment be liquidated.
Investments [PFIA 2256.005(b)(4)(A)]
Trophy Club funds governed by this Policy may be invested in the instruments described below, all of
which are authorized by the Public Funds Investment Act. Investment of Town of Trophy Club funds in
any instrument or security not authorized for investment under the Act is prohibited. The Town of Trophy
Club will not be required to liquidate an investment that becomes unauthorized subsequent to its purchase.
I.Authorized
1.Obligations, including letters of credit, of the United States, its agencies and instrumentalities,
including the Federal Home Loan Banks.
2.Direct obligations of the State of Texas, its agencies and instrumentalities or obligations of
agencies, counties, cities, and other political subdivisions of this State rated as to investment quality
by a nationally recognized investment rating firm of not less than “A” or its equivalent.
3.Other obligations, the principal and interest of which are unconditionally guaranteed or insured by,
or backed by the full faith and credit of, the State of Texas or the United States or their respective
agencies and instrumentalities, including obligations that are fully guaranteed or insured by the
Federal Deposit Insurance Corporation or by the explicit full faith and credit of the United States.
4.Certificates of Deposit and other forms of deposit issued by a depository institution that has its main
office or a branch office in Texas. The deposit must be guaranteed or insured by the Federal
Deposit Insurance Corporation (“FDIC”) or its successor, or the National Credit Union Share
Insurance Fund (“NCUSIF”) or its successor, or secured by obligations in a manner and amount as
provided by law. In addition, deposits obtained through a depository institution that has its main
office or a branch office in Texas and that contractually agrees to place the funds in federally
insured depository institutions in accordance with the conditions prescribed in Section 2256.010(b)
of the Public Funds Investment Act are authorized investments. Funds may also be invested by the
Town through a broker that has a main office or branch office in Texas and is selected from a list
approved by the Town as required by section 2656.025 of the Public Funds Investment Act or a
depository institution that has a main office or branch office in Texas and is selected by the Town
are authorized investments if the following conditions are met:
a.the broker or depository institution selected by the Town as specified above arranges
for the deposit of the funds in in one or more federally insured depository institutions,
wherever located, for the account of the Town;
b.the full amount of the principal and accrued interest of each deposit is insured by the
United States or an instrumentality of the United States; and
c.the Town appoints a depository bank or a clearing broker registered with the Securities
and Exchange Commission Rule 15c-3 (17CFR, Section 240 15c3-3) as custodian for
the Town with respect to the deposit issued for account to the Town.
5.Fully collateralized direct repurchase agreements with a defined termination date secured by
obligations of the United States or its agencies and instrumentalities. These shall be pledged to the
Town of Trophy Club, held in an account in the Town of Trophy Club’s name, and deposited at the
time the investment is made with the Town of Trophy Club or with a third-party selected and approved
by the Town of Trophy Club. Repurchase agreements must be purchased through a primary
government securities dealer, as defined by the Federal Reserve, or a financial institution doing
business in Texas. A Master Repurchase Agreement, or similar agreement, must be signed prior to
investment in a repurchase agreement. Securities received for repurchase agreements must have a
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market value greater than or equal to 102 percent at the time funds are disbursed. (This section
pertains to Sweep Accounts and/or Bond Proceeds)
6.No-Load Money Market Mutual funds that: 1) are registered and regulated by the Securities and
Exchange Commission and provide a prospectus and other information required by the Securities
and Exchange Act of 1934 (15 U.S.C. Section 78a) or the Investment Company Act of 1940 (15
U.S.C. Section 80a-1), and 2) seek to maintain a stable net asset value of $1.0000 per share.
7.Local government investment pools, which 1) meet the requirements of Chapter 2256.016 of the
Public Funds Investment Act, 2) are rated no lower than AAA or an equivalent rating by at least
one nationally recognized rating service, and 3) are authorized by resolution or ordinance by the
Town Council. In addition, a local government investment pool created to function as a money
market mutual fund must mark its portfolio to the market daily and, to the extent reasonably
possible, stabilize at a $1.0000 net asset value.
If an investment in the Town’s portfolio becomes an unauthorized investment due to changes in the
Investment Policy or the Public Funds Investment Act, or an authorized investment is rated in a way that
causes it to become an unauthorized investment, the Investment Committee of the Town shall review the
investment and determine whether it would be more prudent to hold the investment until its maturity, or to
redeem the investment. The Investment Committee shall consider the time remaining until maturity of the
investment, the quality of the investment, and the quality and amounts of any collateral which may be
securing the investment in determining the appropriate steps to take. [PFIA 2256.021].
II.Not Authorized [PFIA 2256.009(b)(1-4)]
Investments including interest-only or principal-only strips of obligations with underlying mortgage-backed
security collateral, collateralized mortgage obligations with an inverse floating interest rate or a maturity
date of over 10 years are strictly prohibited.
VIII.INVESTMENT PARAMETERS
Maximum Maturities [PFIA 2256.005(b)(4)(B)]
The longer the maturity of investments, the greater their potential price volatility. Therefore, it is the Town
of Trophy Club’s policy to concentrate its investment portfolio in shorter-term investments in order to limit
principal risk caused by changes in interest rates.
The Town of Trophy Club attempts to match its investments with anticipated cash flow requirements. The
Town of Trophy Club will not directly invest for more than three years from the date of purchase; however,
the above described obligations, certificates, or agreements may be collateralized using longer dated
investments.
Because no secondary market exists for repurchase agreements, the maximum maturity shall be 120 days
except in the case of a flexible repurchase agreement for bond proceeds. The maximum maturity for such
an investment shall be determined in accordance with project cash flow projections and the requirements
of the governing bond ordinance.
The composite portfolio will have a weighted average maturity of 365 days or less. The dollar-weighted
average maturity will be calculated using the stated final maturity dates of each security. [PFIA
2256.005(b)(4)(C)].
Diversification [PFIA 2256.005(b)(3)]
The Town of Trophy Club recognizes that investment risks can result from issuer defaults, market price
changes or various technical complications leading to temporary illiquidity. Risk is managed through
portfolio diversification that shall be achieved by the following general guidelines:
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•Limiting investments to avoid overconcentration in investments from a specific issuer or business sector
(excluding U.S. Treasury securities and financial institution deposits that are fully insured and
collateralized in accordance with state and federal law),
•Limiting investments that have higher credit risk,
•Utilizing investments with varying maturities, and
•Continuously investing a portion of the portfolio in readily available funds such as local government
investment pools (LGIPs), money market accounts, money market funds, or overnight repurchase
agreements to ensure that appropriate liquidity is maintained in order to meet ongoing obligations.
IX.SELECTION OF BANKS AND DEALERS
Depository
At least every five years a Depository shall be selected through the Town of Trophy Club’s banking services
procurement process, which shall include a formal request for application (RFA). The selection of a
depository will be determined by competitive application and evaluation of applications will be based on the
most advantageous favorable terms and conditions for the handling of Town funds.
Authorized Brokers/Dealers [PFIA 2256.025]
The Town of Trophy Club Investment Committee (see Section XIII) shall, at least annually, review, revise,
and approve a list of qualified broker/dealers authorized to engage in securities transactions with the Town
of Trophy Club. Authorized firms may include primary dealers or regional dealers that qualify under
Securities & Exchange Commission Rule 15C3-1 (Uniform Net Capital Rule).
Competitive Environment
It is the policy of the Town of Trophy Club to provide a competitive environment for all investment activities.
The Investment Officers shall develop and maintain procedures for ensuring competition in the investment
of the Town of Trophy Club’s funds and are authorized to solicit bids for investments orally, in writing,
electronically, or in any combination of these methods.
Delivery vs. Payment [PFIA 2256.005(b)(4)(E)]
Securities shall be purchased using the delivery vs. payment method. Funds will be released after
notification that the purchased security has been received.
X.SAFEKEEPING AND CUSTODY
Safekeeping and Custodial Agreements
The Town of Trophy Club shall contract with a bank or banks for the safekeeping of securities either owned
by the Town of Trophy Club as part of its investment portfolio or held as collateral to secure demand or time
deposits. Securities owned by the Town of Trophy Club shall be held in an account in the Town of Trophy
Club’s name as evidenced by safekeeping receipts of the institution holding the securities. Original
safekeeping receipts shall be obtained and held by the Town.
Collateral for deposits will be held by a third-party custodian designated by the Town of Trophy Club and
pledged to the Town of Trophy Club as evidenced by pledge receipts of the institution with which the
collateral is deposited. Collateral may be held by the depository bank’s trust department, a Federal Reserve
Bank or branch of a Federal Reserve Bank, a Federal Home Loan Bank, or a third-party bank approved by
the Town of Trophy Club.
Collateral Policy [PFCA 2257.023]
Consistent with the requirements of the Public Funds Collateral Act, it is the policy of the Town of Trophy
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Club to require full collateralization of all non-insured Town of Trophy Club funds on deposit with a financial
institution and a written depository agreement acceptable to the Town. The market value of the securities
collateralizing the deposit of funds shall be at least equal to 102% of the principal and accrued interest on
the deposits less an amount insured by the FDIC or NCUSIF. Collateral in the form of letters of credit
issued by the Federal Home Loan Bank must be equal to 100% of the principal and anticipated interest of
deposits less the applicable level of FDIC insurance. At its discretion, the Town of Trophy Club may require
a higher level of collateralization for certain investment securities held as collateral. Securities pledged as
collateral shall be held by an independent third-party with whom the Town of Trophy Club has a current
custodial agreement. The Investment Officers are responsible for entering into collateralization agreements
with third-party custodians in compliance with this Policy. The agreements are to specify the acceptable
investment securities for collateral, including provisions relating to possession of the collateral, the
substitution or release of investment securities, ownership of securities, and the method of valuation of
securities. A clearly marked evidence of pledge must be supplied to the Town of Trophy Club and retained.
Collateral shall be reviewed at least monthly to assure that the market value of the pledged securities are
adequate.
The custodial portion of the depository agreement shall define the Town’s rights to the collateral in case of
default, bankruptcy or closing and shall establish a perfected security interest in compliance with Federal
and State regulations, including:
•The Agreement must be in writing;
•The Agreement must be executed by the depository and the Town contemporaneously with the
acquisition of the asset;
•The Agreement must be approved by the board of directors or the loan committee of the depository
and a copy of the meeting minutes must be delivered to the Town; and
•The Agreement must be part of the depository’s “official record” continuously since its execution.
Collateral Defined
The Town of Trophy Club shall accept only the following types of collateral:
•Obligations of the United States or its agencies and instrumentalities
•Direct obligations of the State of Texas or its agencies and instrumentalities
•Collateralized mortgage obligations directly issued by a federal agency or instrumentality of the
United States, the underlying security for which is guaranteed by an agency or instrumentality of the
United States
•Obligations of states, agencies, counties, cities, and other political subdivisions of any state rated as
to investment quality by a nationally recognized rating firm not less than A or its equivalent with a
remaining maturity of ten (10) years or less
•A surety bond issued by an insurance company rated as to investment quality by a nationally
recognized rating firm not less than A
•A letter of credit issued by the Federal Home Loan Bank
Subject to Audit
All collateral shall be subject to inspection and audit by the Investment Officers or their designee, Including
the Town of Trophy Club’s independent auditors.
XI.PERFORMANCE
Performance Standards
The Town of Trophy Club’s investment portfolio will be managed in accordance with the parameters
specified within this Policy. The portfolio shall be designed with the objective of obtaining a market rate of
return through budgetary and economic cycles, commensurate with the investment risk constraints and the
cash flow requirements of the Town of Trophy Club.
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Performance Benchmark
It is the policy of the Town of Trophy Club to purchase investments with maturity dates coinciding with cash
flow needs. Through this strategy, the Town of Trophy Club shall seek to optimize interest earnings utilizing
allowable investments available in the market at that time. The Town of Trophy Club’s portfolio shall be
designed with the objective of regularly meeting or exceeding the benchmark(s) as appropriate per the
investment strategy statements. Weighted Average Yield to Maturity shall be the standard for calculating
portfolio rate of return.
XII.REPORTING [PFIA 2256.023]
Methods
The Investment Officers shall prepare a written investment report on a quarterly basis that summarizes
investment strategies employed in the most recent quarter and describes the portfolio in terms of
investment securities, maturities, and shall explain the total investment return for the quarter.
The quarterly investment report shall include a summary statement of investment activity prepared in
compliance with the PFIA. This summary will be prepared in a manner that will allow the Town of Trophy
Club to ascertain whether investment activities during the reporting period have conformed to the
Investment Policy. The report will be provided to the Town Council and signed by the Investment Officers.
The report will include the following:
•A listing of individual investments held at the end of the reporting period.
•Unrealized gains or losses resulting from appreciation or depreciation by listing the beginning and
ending book and market value of investments for the period.
•Additions and changes to the market value during the period.
•Average weighted yield to maturity of portfolio as compared to applicable benchmarks.
•Listing of investments by maturity date.
•Fully accrued interest for the reporting period.
•The percentage of the total portfolio that each type of investment represents.
•Statement of compliance of the Town of Trophy Club’s investment portfolio with state law and the
investment strategy and policy approved by the Town Council.
An independent auditor will perform a formal annual review of the quarterly reports with the results reported
to the Town Council [PFIA 2256.023(d)].
Monitoring Market Value [PFIA 2256.005(b)(4)(D)]
Market value of all securities in the portfolio will be determined at least on a quarterly basis. These values
will be obtained from a reputable and independent source and disclosed to the Town Council quarterly in
a written report.
XIII.INVESTMENT COMMITTEE
Members
An Investment Committee, consisting of the Town Manager and the Investment Officers, shall review the
Town’s investment strategies and monitor the results of the investment program periodically. This review
can be done by reviewing the quarterly written reports and by holding committee meetings as necessary.
The committee will be authorized to invite other advisors to attend meetings as needed.
Scope
The Investment Committee shall include in its deliberations such topics as economic outlook, investment
strategies, portfolio diversification, maturity structure, potential risk to the Town’s funds, evaluation and
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authorization of broker/dealers, acceptable training sources, rate of return on the investment portfolio, and
review of compliance with the Investment Policy. The Investment Committee will also advise the Town
Council of any future amendments to the Investment Policy that are deemed necessary or recommended.
Procedures
The Investment Policy shall require the Investment Committee to provide minutes of investment
information discussed at any meetings held. The committee shall meet at least annually to discuss the
investment program and policy.
XIV.INVESTMENT POLICY ADOPTION [PFIA 2256.005(e)]
The Town of Trophy Club’s Investment Policy shall be adopted by resolution of the Town Council. It is the
Town of Trophy Club’s intent to comply with state laws and regulations. The Town of Trophy Club’s
Investment Policy shall be subject to revisions consistent with changing laws, regulations, and needs of
the Town of Trophy Club. The Town Council shall adopt a resolution stating that it has reviewed the policy
and investment strategies not less than annually, approving any changes or modifications.
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Town of Trophy Club
Town Council Regular Session Minutes
Tuesday, February 14, 2023; 5 PM
The Trophy Club Town Council met in a Regular Meeting on Tuesday, February 14, 2023. The meeting was held at
Town Hall, 1 Trophy Wood Dr, Trophy Club, TX 76262.
TOWN COUNCIL MEMBERS PRESENT:
Alicia L. Fleury Mayor
Greg Lamont Mayor Pro Tem, Place 1
Jeff Beach Council Member, Place 2
Dennis Sheridan Council Member, Place 3
Karl Monger Council Member, Place 4
LuAnne Oldham Council Member, Place 5
Steve Flynn Council Member, Place 6
STAFF PRESENT:
Wade Carroll Town Manager
David Dodd Town Attorney
Patrick Arata Police Chief
Jason Wise Fire Chief
Anita Otterson Town Secretary
Matt Cox Community Development Director
April Duvall Finance Director
Denise Deprato Human Resources Director
Jill Lind Communications and Marketing Director
Tamara Smith Assistant to the Town Manager
CALL TO ORDER AND ANNOUNCE A QUORUM
Mayor Fleury and Mayor for a Day Monica DeCicco called the meeting to order at 5:00 PM and noted a quorum with
all Council Members present.
INVOCATION led by Parks and Recreation Director Tony Jaramillo.
PLEDGES led by Mayor for a Day Monica DeCicco
Pledge of Allegiance to the American Flag.
Pledge of Allegiance to the Texas Flag.
ANNOUNCEMENTS AND REPORTS
1. Issuance of Proclamation 2023-04 proclaiming February 14, 2023 as “Monica DeCicco, Mayor
for a Day” in Trophy Club (Mayor Fleury).
Mayor Fleury made a motion to accept the proclamation as read. The motion was seconded by Council Member
Monger. The motion passed unanimously 7-0.
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2. Medlin Middle School 6th Grade Gifted and Talented Explorations Program Service Project
“Little Free Library” (Mayor Fleury).
3. Read and present Proclamation 2023-03 proclaiming February as Kindness Awareness Month in
Trophy Club (Mayor Fleury).
The proclamation passed at the January 21, 2023 meeting. It was read and presented to Dan Hilbert
of Dan’s Bagel’s.
4. BNHS StuCo update on C4K Fun Run (Mayor Fleury).
5. Read and present Proclamation 2023-02 proclaiming February as Black History Month in Trophy
Club (Mayor Fleury).
The proclamation passed at the January 21, 2023 meeting. It was read and presented to Melody
Anderson.
6. Update on the launch of the reskin of the Town website (J. Lind).
PUBLIC COMMENTS
Jennifer Olson, 340 Inverness Drive – Ms. Olson wanted to speak about the lack of transparency in the Town of
Trophy Club. She feels that she has been targeted, her open record requests have not been filled, and the Town
has been dishonest when responding to her requests.
Bambi McCormick, 2818 Chatswood Drive – Ms. McCormick spoke about a resident’s request made to her to
remove a political sign from the resident’s yard. Ms. McCormick detailed the events of the day and rebutted Ms.
Olson’s false allegations that she stole the signs.
PUBLIC HEARINGS
Mayor Fleury opened the Public Hearing at 5:41 PM. There were no speakers. Mayor Fleury closed the Public
Hearing at 5:42 PM.
7. Case SUP-23-001 (Rosati’s Pizza Alcohol on-Premises).
a. Conduct a Public Hearing regarding a request made by Rosati’s Pizza Restaurant for a Specific
Use Permit for alcohol beverage sales on-premises consumption in conjunction with a restaurant
use, located at 2210 E. Highway 114 #250 (M. Cox).
b. Consider and take appropriate action regarding a request made by Rosati’s Pizza Restaurant for
a Specific Use Permit for alcohol beverage sales on-premises consumption in conjunction with a
restaurant use, located at 2210 E. Highway 114 #250 (M. Cox
Mayor Pro Tem Lamont made a motion to approve the SUP – Special Use Permit request made by Rosati’s Pizza
Restaurant for alcohol beverage sales for on-premises consumption in conjunction with a restaurant use located at
2210 E. Highway 114 #250. The motion was seconded by Council Member Beach.
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Councilmember Sheridan commented that the Ordinance 2023-02 P&Z states the location for Rosati’s Restaurant to
be Lot 1 Block A. He feels that it should contain the full address of the business, 2210 E. Highway 114, Suite #250.
He stated that if the applicant were to move spaces in PD-30 the SUP would follow the applicant.
A vote was taken and the motion passed 5-2.
Yes votes – Beach, Lamont, Fleury, Monger, Flynn
No votes – Sheridan, Oldham
CONSENT AGENDA
8. Consider and take appropriate action regarding a Joint Election Agreement between the Town of Trophy
Club and Denton County Elections for administration of the Town’s May 6, 2023 General Elections; and
authorize the Mayor or her designee to execute all necessary documents (A. Otterson).
9. Consider and approve an Interlocal Agreement with the City of Roanoke for Administration of Municipal
Court Services (W. Carroll).
10. Consider and take appropriate action to approve the Regular Town Council Meeting Minutes of January
10, 2023 (A. Otterson).
11. Consider and take appropriate action regarding the Town Council Meeting Minutes dated January 21,
2023 (A. Otterson).
12. Consider and take appropriate action regarding a requisition for procurement of the pavement analysis
services from Data Transfer Solutions (DTS) for the Town of Trophy Club for a fee not to exceed $50,000
over two fiscal years (M. Cox).
13. Consider and take appropriate action regarding a Developer’s Agreement between the Town of Trophy
Club and Trophy Club Estates Development, L.P. for the Falcon Estates (7H); and authorizing the Mayor
or her designee to execute all necessary documents. (M. Cox)
14. Consider and take appropriate action regarding a Developer’s Agreement between the Town of Trophy
Club and Trophy Club Estates Development, L.P. for Aspen Estates (8H); and authorizing the Mayor or her
designee to execute all necessary documents (M. Cox).
15. Receive the annual Racial Profiling Report (P. Arata).
16. Consider and take appropriate action regarding an Ordinance of the Town of Trophy Club ordering and
calling a General Election to be held on May 6, 2023 for the purpose of electing one (1) Mayor, one (1)
Councilmember to Place 1, and one (1) Councilmember to Place 2 on the Trophy Club Town Council, each
for a term of three (3) years; and providing an effective date (A. Otterson).
17. Consider and approve a topographic and boundary survey contract for an intersection improvement
roundabout at Trophy Club Drive and Bobcat Boulevard in Trophy Club; the total amount for basic
services is $33,500, funded as a one-time expenditure from the unassigned fund balance of the General
Fund; and authorizing the Town Manager to sign necessary documents (W. Carroll).
Town Manager Wade Carroll stated that staff would like to pull items 13 and 14 from the Consent Agenda for
further discussion.
Mayor Pro Tem Lamont made a motion to approve items 8 through 12 and 15, 16 and 17. The motion was
seconded by Councilmember Flynn. The motion passed unanimously.
INDIVIDUAL ITEMS
Items 13 and 14 were addressed by Community Development Director Matt Cox. He stated that everything that was
distributed in the packet was still the same, but a clause was added to the Developer Agreements - #7 – Null and
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Void. This Agreement will be null and void if the Trophy Club Municipal Utility District does not approve the interlocal
agreement with the Town of Trophy Club that will provide services to the area which is the subject of this agreement.
Town Manager Carroll stated that the Trophy Club Municipal Utility District Board doesn’t meet until February 15,
2023, to approve an ILA for services. Staff was worried if there was a problem with the ILA for services between the
MUD and Town, that it would be a misstep on our part stating that services would be provided in the Developer’s
Agreements.
Mayor Pro Tem Lamont made a motion to approve the Developer’s Agreement between the Town of Trophy Club
and Trophy Club Estates Development, L.P. for the Falcon Estates (7H) adding the following in section 7 to read:
This Agreement will be null and void if the Trophy Club Municipal Utility District does not approve the interlocal
agreement with the Town of Trophy Club that will provide services to the area which is the subject of this agreement.
The motion was seconded by Councilmember Beach. The motion passed unanimously.
Mayor Pro Tem Lamont made a motion to approve the Developer’s Agreement between the Town of Trophy Club
and Trophy Club Estates Development, L.P. for the Aspen Estates (8H) adding the following in section 7 to read:
This Agreement will be null and void if the Trophy Club Municipal Utility District does not approve the interlocal
agreement with the Town of Trophy Club that will provide services to the area which is the subject of this agreement.
The motion was seconded by Councilmember Beach.
Councilmember Sheridan stated there are potential drainage issues with this tract. He stated that he will vote yes,
but he has serious reservations about the drainage on this tract.
Town Manager Carroll stated that Matt Cox reached out to our engineering firm and they agreed that the drainage
is adequate for the lot as designed. There is an open drain, which is a flat box that’s covered, in one of the residents’
back yard; there is lot-to-lot drainage that goes across the back, but the primary drainage goes to the street.
Councilmember Flynn questioned the drainage. Community Development Director Matt Cox stated that our
engineers have confirmed that the current drainage system will support a 25, 50, or 100-year flood for all the houses
in that area.
Councilmember Oldham stated she was concerned that during construction there would be debris that would clog
the drain. The Developers Agreement only mentions the developer and contractor responsible for all liability for
drainage to adjacent and downstream properties but only to the extent directly caused by the design construction
of the public improvement. The Developers Agreement only covers public improvement and doesn’t discuss
liabilities on an easement on the budding property.
Community Development Director Matt Cox stated that would be covered under our SWPP and the Town and TNP
will be doing on-site construction inspections. He stated that there are at least 4 of these drains in Town and
periodically our Streets guys check them. Regarding lot-to-lot flowage, the rest of this new development will flow
back to front, so there will be limited flow to this tabletop drain.
The motion passed unanimously.
18. Consider and take appropriate action regarding an amendment to the current Interlocal Agreement with
the Trophy Club Municipal Utility District No. 1 to provide for water and wastewater service (W. Carroll).
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Mayor Pro Tem Lamont made a motion to approve the amendment to the water and wastewater services ILA
between the Town of Trophy Club and Trophy Club Municipal Utility District No. 1 as presented at the dais with
changes to items 2 and 3. The motion was seconded by Councilmember Monger.
Councilmember Flynn wanted clarification on the changes that were made. He stated that the changes were made
by the MUD and presented to us and these changes weren’t now going back to the MUD for their approval. Town
Manager Carroll confirmed that was correct.
Councilmember Beach clarified that this ILA would be voted on at the MUD Board meeting on February 15, 2023.
The motion passed unanimously.
19. Case ME-23-001 (Cooks Children’s Sign Meritorious Exception. Consider and take appropriate action on a
Meritorious Exception for Cooks Children’s generally located at the northeast corner of Hwy 114 and
Trophy Club Drive addressed as 2300 E. Hwy 114, Suite 300 (M. Cox).
Mayor Pro Tem Lamont made a motion to approve the Cooks Children’s Sign Meritorious Exception generally located
at the northeast corner of Hwy 114 and Trophy Club Drive addressed as 2300 E. Hwy 114, Suite 300 as corrected to
say Cooks Children’s in the packet.
The motion was seconded by Councilmember Beach. The motion passed unanimously.
20. Future Agenda Items List (W. Carroll).
Councilmember Sheridan requested to add the following to the Future Agenda Items List:
•Adjust the subdivision standards requiring lot drainage to public improvements, prohibiting lot-to-
lot drainage, and prohibiting open storm inlets on a residential lot.
•Allow for special exceptions by P&Z and Council, where engineering presents a significant critical
need
•Allow for grandfather of the existing approved drainage plans
The request was seconded by Councilmember Oldham.
The Mayor announced Council was going into executive session at 6:06 PM
EXECUTIVE SESSION
21. Pursuant to the following designated section of the Texas Governmental Code, Annotated, Chapter 551,
the Town Council will recess into executive session to discuss the following:
a. Section 551.071 Attorney Client Privilege
i. Deliberate a possible Interlocal Agreement with multiple governmental entities to
provide services to Trophy Club citizens.
ii. Discuss pending litigation
iii. Consultation with Town attorney regarding:
1. Complaint filed
2. Enforcing contracts from previous Economic Development negotiations.
Council reconvened back into executive session at 7:46 PM.
RECONVENE INTO REGULAR SESSION
22. Consider and take appropriate action regarding executive session items (Mayor Fleury).
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Councilmember Monger announced that Council directs the Town Attorney to proceed as directed by Council during
executive session.
ADJOURN
Mayor Fleury adjourned the meeting at 7:47 pm.
Attest:
__________________________ __________________________
Anita Otterson, Town Secretary Alicia L. Fleury, Mayor
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To: Mayor and Town Council
From: Matt Cox, Director of Community Development
CC: Wade Carroll, Town Manager
Anita Otterson, Town Secretary
Re: Case ME-23-002 (Mother’s Day Art and Garden Festival Banners Meritorious
Exception)
Town Council Meeting, February 28, 2023
Agenda Item:
Case ME-23-002 (Mother’s Day Festival Banners Meritorious Exception)
Consider and take appropriate action to approve a request for a Meritorious Exception for special
purpose signs for the Mother’s Day Art and Garden Festival to be located at Trophy Club Town Center
(PD-30).
Strategic Link:
Infrastructure & Development – Foster a business-friendly environment.
Background and Explanation:
The 3rd Annual Trophy Club Women’s Club Mother’s Day Art and Garden Festival is scheduled for May 12-
14, 2023. Mrs. Teryl Flynn submitted a meritorious exception application requesting additional banners
for the event. Section 3.09.065 of the Town’s Code of Ordinances allows only one (1) banner sign, not to
exceed fifty (50) square feet, on the special event site. Applicant is requesting banners at multiple
locations near the festival and throughout town. Section 3.09.101(b) allows an “interested party to
request from town council, upon recommendation by the planning and zoning commission, to hear and
fairly consider a meritorious exception”. A site plan was submitted with the application showing the
locations of potential banners.
As shown on Exhibit A (Mother’s Day Festival 8 vinyl banners) the proposed dimensions are:
Mother’s Day Festival HEIGHT 4’
8 banners WIDTH 7’
OVERALL SF 28
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Proposed TCWC Banner
Financial Considerations:
Not applicable.
Legal Review:
This item has been reviewed by the Town Attorney and has no objection.
Planning and Zoning Commission Recommendation:
The Planning and Zoning Commission considered this item on February 7, 2023 and unanimously
recommended approval as presented with a 4-0 vote.
Staff Recommendation:
As a public partner supporting TCWC’s efforts and beneficiaries, staff recommends approval of the
request.
Attachments:
• Exhibit A- Meritorious Exception Application
• Exhibit B- TCWC Proposed Banner
• Exhibit C- Proposed Locations Map
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To: Mayor and Town Council
From: Matt Cox, Director of Community Development
CC: Wade Carroll, Town Manager
Anita Otterson, Town Secretary
Re: Discussion and direction for amending the special purpose sign ordinance
Town Council Meeting, February 28, 2023
Agenda Item:
Discussion and direction for amending the special purpose sign ordinance 3.09.065.
Strategic Link:
Infrastructure & Development – Foster a business-friendly environment and support the efforts
local non-profit organizations.
Background and Explanation:
In the last 3 to 4 years the Town of Trophy Club has experienced an increase of special event
requests from profit and non-profit organizations- Trophy Club Women’s Club, Disc Golf, TCEVA,
Gallant Few, Motocross, etc. Staff recognizes that Council, our citizens, and surrounding
communities support these organizations and also encourage additional new events. Many of
these reoccurring events have dramatically grown in attendance. The permitting department
consistently receives applications requesting multiple temporary banners to enhance the
awareness of the event. The special purpose sign ordinance is currently very restrictive for
advertising and promoting an event in Trophy Club. For these reasons, staff is requesting
direction from Council to amend the existing ordinance.
On February 7th, 2023, the Planning and Zoning Commissioners discussed amending the special
purpose sign ordinance.
The Commissioners proposed considering the following:
1. Size and height consideration - no more than 50 square feet and no more than 8 feet high.
2. Density and frequency of the signs – consider the proximity of each other.
3. Neighborhood streets – consider private property and homeowner’s association
approval.
4. Allowing 48 hours for pickup – weather permitting (election signage allows 3 days)
5. Maybe approve signs on Town property – Town ordinance does not specify special event
signs being prohibited. 225
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6. Free standing or on structure – consider on surrounding buildings like Aloft Hotel or the
Bevan.
7. Event banners only allowed twice per calendar year per sponsoring organization.
8. Consideration of number of banners allowed – no more than eight (8).
9. Consideration of the banner material.
10. Consideration on how banners are secured or mounted to allow movement caused by the
atmosphere.
11. Only commercial manufactured temporary banners or ground signs to be allowed.
12. At any time, a temporary banner becomes a nuisance because of maintenance or traffic
hazard (for example the site visibility triangle at intersections) the Town Manager, Chief
of Police or Fire Chief shall order the sign/banner to be removed.
13. Site plan required to be submitted with application with proposed sign/banner locations
for staff to review vision triangle, ensure locations are permissible, and allowed by zoning
ordinance.
Financial Considerations:
Not applicable.
Legal Review:
This item is under review by the Town Attorney.
Attachments:
• Exhibit A - Current Ordinance 3.09.065. Special Purpose signs.
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§3.09.065.Special purpose signs.
Special purpose signs complying with the provisions of this section shall be allowed in
conjunction with special events provided that a special event permit issued pursuant to
article 1.09. of this code has been obtained for the event. Special purpose signs may be
posted for events that are expressly exempt from the requirements of article 1.09 of this
code provided however that all such signs shall comply with the requirements of this
section and other applicable provisions of this article.
(Ordinance 2005-03, sec. 6(E), adopted 2/7/05;2006 Code, ch. 5, sec. 4.05(E);
Ordinance 2011-14, sec. 2.02, adopted 4/4/11;Ordinance 2012-09, sec. 2.09, adopted 5/
7/12;Ordinance 2015-23, sec. 4.08, adopted 10/13/15)
(1)Number, size and placement.
(A)Banner signs.One (1) banner, not to exceed fifty (50) square feet, shall be
allowed on the special event site. Placement of the banner shall be subject to
the requirements of the special event permit or the approval of the community
development director when a special event permit is not required. A banner
shall not be strung between trees, but shall be securely attached to a building,
or securely strung between two (2) temporary poles.
(B)Informational and directional signs.Special purpose signs, including without
limitation, directional signs and directional real estate signs, shall only be
allowed for special events pursuant to a special event permit. Except as
specifically allowed for in this section, directional signs shall not be allowed
within the town. In addition to the requirement to obtain a special event
permit, prior to the placement of a special purpose sign, any person or entity
placing such a sign shall also have received authorization or approval for
such placement from the owner of the property upon which such sign is
placed, and shall comply with applicable notification requirements set forth in
this article.
(2)Duration.Special purpose signs authorized by this section in accordance with a
valid special event permit shall be allowed up to fourteen (14) days prior to the
date of the event. All signage shall be removed within twenty-four (24) hours
following the conclusion of the event.
:1227
Page 1 of 2
To: Mayor and Town Council
From: Denise Deprato, Director of Human Resources
CC: Wade Carroll, Town Manager
Anita Otterson, Town Secretary
Re: FY 2022/23 Compensation Plan Midyear Update
Date: February 28, 2023
Agenda Item:
Consider and take appropriate action, effective March 26, 2023, approving the Fiscal Year
2022/23 Pay Plan, authorizing the Town Manager and/or his designee to make personnel salary
adjustments, and adjusting the FY 2022/23 General Fund Operating Budget by $178,000.
Strategic Link:
Employee Development: Train and retain a skilled workforce.
Background and Explanation:
After a compensation review staff is requesting an update to the FY 2022/23 Pay Plan and
personnel salary adjustments. Town Council established a strategic initiative to train and retain
a skilled workforce. To remain a competitive agency to attract highly qualified new talent and to
retain a skilled workforce, Town Council has directed staff to maintain the Pay Plan at the 50th
Percentile of our 22 benchmark agencies. During the January 21, 2023, Council Meeting, staff
presented Council with an overview of the 2023 Compensation Survey results. To maintain the
Pay Plan at the 50th Percentile the classification pay ranges need to be adjusted by a decrease of
16% to an increase of 28%. In addition, staff identified the need to convert the Pay Plan from a
grading (grouping) system to an individual classification range system to maintain the 50th
Percentile for each classification. Additionally, staff identified salary compression concerns and
salary range placement issue with employees. Over the years the Town has adjusted the Pay
Plan however, employee pay was not consistently increased. These actions resulted in tenure
employees remaining at the lower end of the pay range. To address the compression and salary
range placement concerns, staff has developed a plan to adjust employee salaries by giving a 2%
increase for each year in classification with a maximum increase of $10,000.
228
Page 2 of 2
Financial Considerations:
Total FY 2022/23 general fund cost is $178,000. The FY 2022/23 Operating Budget will need to
be amended by $178,000 to cover the increase costs associated with the FY 2022/23 Pay Plan
and personnel salary adjustments. Funding for the increase in the FY 2022/23 Operating Budget
will be appropriated from FY 2021/22 budget savings.
Legal Review:
Not applicable
Board/Commission/ or Committee Recommendation:
Not applicable
Staff Recommendation:
Staff recommends Town Council approves, effective March 26, 2023, the Fiscal Year 2022/23 Pay
Plan, authorize the Town Manager and/or his designee to make personnel salary adjustments,
and adjusts the FY 2022/23 General Fund Operating Budget by $178,000.
Attachments:
•Attachment 1: FY 2022/23 Pay Plan
•Attachment 2: FY 2022/23 Current vs Revised Pay Plan
229
FY 2022/23 Pay Plan DRAFT Page 1 of 4
Effective March 26, 2023
FY 2022/23 Pay Plan
Fire
Classification FLSA FT/PT/S Minimum Midpoint Maximum
PT Firefighter / EMT NE PT Hourly $ 19.20 $ 22.52 $ 25.84
PT Firefighter/Paramedic NE PT Hourly $ 20.21 $ 23.70 $ 27.20
Firefighter - EMT NE FT Annual $ 65,752.96 $ 77,138.88 $ 88,524.80
Hourly $ 22.58 $ 26.49 $ 30.40
Firefighter-Paramedic NE FT Annual $ 69,218.24 $ 81,215.68 $ 93,184.00
Hourly $ 23.77 $ 27.89 $ 32.00
Driver/Engineer NE FT Annual $ 87,680.32 $ 102,851.84 $ 117,994.24
Hourly $ 30.11 $ 35.32 $ 40.52
Fire Captain NE FT Annual $ 106,404.48 $ 124,808.32 $ 143,212.16
Hourly $ 36.54 $ 42.86 $ 49.18
Police
Classification FLSA FT/PT/S Minimum Midpoint Maximum
Police Cadet NE FT Annual $ 63,731.20
Hourly $ 30.64
Police Officer NE FT Annual $ 70,803.20 $ 83,054.40 $ 95,305.60
Hourly $ 34.04 $ 39.93 $ 45.82
Detective NE FT Annual $ 70,803.20 $ 83,054.40 $ 95,305.60
Hourly $ 34.04 $ 39.93 $ 45.82
Juvenile Detective NE FT Annual $ 70,803.20 $ 83,054.40 $ 95,305.60
Hourly $ 34.04 $ 39.93 $ 45.82
Police Sergeant NE FT Annual $ 98,300.80 $ 115,294.40 $ 132,288.00
Hourly $ 47.26 $ 55.43 $ 63.60
Police Lieutenant E FT Annual $ 112,320.00 $ 131,747.20 $ 151,153.60
Hourly $ 54.00 $ 63.34 $ 72.67
Police Captain E FT Annual $ 122,928.00 $ 144,185.60 $ 165,422.40
Hourly $ 59.10 $ 69.32 $ 79.53
230
FY 2022/23 Pay Plan DRAFT Page 2 of 4
Effective March 26, 2023
Non-Exempt
Classification FLSA FT/PT/S Minimum Midpoint Maximum
Accounting Specialist NE FT Annual $ 43,492.80 $ 51,105.60 $ 58,718.40
Hourly $ 20.91 $ 24.57 $ 28.23
Administrative Assistant NE FT Annual $ 38,084.80 $ 44,678.40 $ 51,251.20
Hourly $ 18.31 $ 21.48 $ 24.64
Animal Control Officer NE FT Annual $ 39,312.00 $ 46,113.60 $ 52,915.20
Hourly $ 18.90 $ 22.17 $ 25.44
Athletics Crew Leader NE FT Annual $ 44,491.20 $ 52,187.20 $ 59,883.20
Hourly $ 21.39 $ 25.09 $ 28.79
Athletics Field Technician NE FT Annual $ 34,403.20 $ 40,352.00 $ 46,300.80
Hourly $ 16.54 $ 19.40 $ 22.26
Communications &
Marketing Specialist NE FT Annual $ 51,459.20 $ 60,361.60 $ 69,264.00
Hourly $ 24.74 $ 29.02 $ 33.30
Code Enforcement Officer NE FT Annual $ 45,510.40 $ 53,393.60 $ 61,256.00
Hourly $ 21.88 $ 25.67 $ 29.45
Crime Analyst NE FT Annual $ 50,377.60 $ 59,092.80 $ 67,787.20
Hourly $ 24.22 $ 28.41 $ 32.59
Evidence Custodian/Patrol
Assistant NE FT Annual $ 39,998.40 $ 46,924.80 $ 53,830.40
Hourly $ 19.23 $ 22.56 $ 25.88
Parks Maintenance Worker NE FT/PT Annual $ 34,403.20 $ 40,352.00 $ 46,300.80
Hourly $ 16.54 $ 19.40 $ 22.26
Parks Crew Leader NE FT Annual $ 44,491.20 $ 52,187.20 $ 59,883.20
Hourly $ 21.39 25..09 $ 28.79
Parks Irrigator NE FT Annual $ 38,105.60 $ 44,699.20 $ 51,272.00
Hourly $ 18.32 $ 21.49 $ 24.65
Permit Technician NE FT Annual $ 38,542.40 $ 45,198.40 $ 51,854.40
Hourly $ 18.53 $ 21.73 $ 24.93
Records Analyst NE FT Annual $ 43,305.60 $ 50,793.60 $ 58,281.60
Hourly $ 20.82 $ 24.42 $ 28.02
Recreation Coordinator NE FT Annual $ 46,384.00 $ 54,412.80 $ 62,420.80
Hourly $ 22.30 $ 26.16 $ 30.01
Senior Administrative
Assistant NE FT Annual $ 42,224.00 $ 49,524.80 $ 56,825.60
Hourly $ 20.30 $ 23.81 $ 27.32
Street Maintenance Worker NE FT Annual $ 35,963.20 $ 42,203.20 $ 48,422.40
Hourly $ 17.29 $ 20.29 $ 23.28
Streets Crew Leader NE FT Annual $ 44,491.20 $ 52,187.20 $ 59,883.20
Hourly $ 21.39 $ 25.09 $ 28.79 231
FY 2022/23 Pay Plan DRAFT Page 3 of 4
Effective March 26, 2023
Exempt
Classification FLSA FT/PT/S Minimum Midpoint Maximum
Accountant E FT Annual $ 55,161.60 $ 64,812.80 $ 74,464.00
Hourly $ 26.52 $ 31.16 $ 35.80
Assistant to the Town
Manager E FT Annual $ 71,219.20 $ 83,553.60 $ 95,867.20
Hourly $ 34.24 $ 40.17 $ 46.09
Chief Financial Analyst E FT Annual $ 66,892.80 $ 78,478.40 $ 90,043.20
Hourly $ 32.16 $ 37.73 $ 43.29
Communications &
Marketing Director E FT Annual $ 105,955.20 $ 124,280.00 $ 142,604.80
Hourly $ 50.94 $ 59.75 $ 68.56
Community Development
Director E FT Annual $ 112,320.00 $ 131,747.20 $ 151,174.40
Hourly $ 54.00 $ 63.34 $ 72.68
Deputy Chief/Fire Marshal E FT Annual $ 123,219.20 $ 144,539.20 $ 165,838.40
Hourly $ 59.24 $ 69.49 $ 79.73
Director of Finance E FT Annual $ 117,936.00 $ 138,340.80 $ 158,724.80
Hourly $ 56.70 $ 66.51 $ 76.31
Fire Chief E FT Annual $ 126,422.40 $ 156,124.80 $ 185,848.00
Hourly $ 60.78 $ 75.06 $ 89.35
Human Resources Director E FT Annual $ 116,022.40 $ 136,094.40 $ 156,145.60
Hourly $ 55.78 $ 65.43 $ 75.07
Parks and Recreation
Director E FT Annual $ 117,936.00 $ 138,340.80 $ 158,724.80
Hourly $ 56.70 $ 66.51 $ 76.31
Parks Superintendent E FT Annual $ 69,035.20 $ 80,974.40 $ 92,913.60
Hourly $ 33.19 $ 38.93 $ 44.67
Police Chief E FT Annual $ 126,422.40 $ 156,124.80 $ 185,848.00
Hourly $ 60.78 $ 75.06 $ 89.35
Recreation Superintendent E FT Annual $ 56,700.80 $ 66,497.60 $ 76,294.40
Hourly $ 27.26 $ 31.97 $ 36.68
Streets Superintendent E FT Annual $ 59,966.40 $ 70,345.60 $ 80,704.00
Hourly $ 28.83 $ 33.82 $ 38.80
232
FY 2022/23 Pay Plan DRAFT Page 4 of 4
Effective March 26, 2023
Part-Time/Seasonal
Classification FLSA FT/PT/S Minimum Midpoint Maximum
Assistant Camp Director E S Hourly $ 13.26 $ 15.55 $ 17.85
Assistant Pool Manager E S Hourly $ 13.77 $ 16.15 $ 18.53
Assistant Swim Coach E S Hourly $ 12.68 $ 14.87 $ 17.06
Camp Counselor E S Hourly $ 12.00 $ 14.08 $ 16.15
Camp Director E S Hourly $ 13.75 $ 16.13 $ 18.51
Fitness Instructor NE PT Hourly $ 18.00 $ 20.70 $ 23.40
Head Swim Coach E S Hourly $ 14.71 $ 17.26 $ 19.80
Lifeguard E S Hourly $ 12.00 $ 14.08 $ 16.15
Pool Cashier E S Hourly $ 10.25 $ 12.02 $ 13.80
Pool Manager E S Hourly $ 15.45 $ 18.12 $ 20.79
Pool Manager II E S Hourly $ 16.22 $ 19.03 $ 21.83
Seasonal School Crossing
Guard NE S Hourly $ 15.00 $ 17.25 $ 19.50
TC Park Gate Attendant NE PT Hourly $ 11.06 $ 12.97 $ 14.88
233
FY 2022/23 Current vs Revised Pay Plan DRAFT Page 1 of 7
Effective March 26, 2023
FY 2022/23 Pay Plan
Current vs Revised
Fire
Current Pay Plan Revised Pay Plan
Classification FLSA FT/PT/S Minimum Midpoint Maximum Minimum Midpoint Maximum % Change
PT Firefighter / EMT NE PT Hourly $ 17.00 $ 19.55 $ 22.10 $ 19.20 $ 22.52 $ 25.84 13%
PT Firefighter/Paramedic NE PT Hourly $ 19.00 $ 21.85 $ 24.70 $ 20.21 $ 23.70 $ 27.20 6%
Firefighter - EMT
NE FT Annual $ 59,346.56 $ 61,996.48 $ 64,675.52 $ 65,752.96 $ 77,138.88 $ 88,524.80
11% Hourly $ 20.38 $ 21.29 $ 22.21 $ 22.58 $ 26.49 $ 30.40
Firefighter-Paramedic
NE FT Annual $ 62,462.40 $ 72,159.36 $ 81,798.08 $ 69,218.24 $ 81,215.68 $ 93,184.00
11% Hourly $ 21.45 $ 24.78 $ 28.09 $ 23.77 $ 27.89 $ 32.00
Driver/Engineer
NE FT Annual $ 79,264.40 $ 86,020.48 $ 92,747.20 $ 87,680.32 $ 102,851.84 $ 117,994.24
11% Hourly $ 27.22 $ 29.54 $ 31.85 $ 30.11 $ 35.32 $ 40.52
Fire Captain
NE FT Annual $ 92,980.16 $ 100,085.44 $ 107,511.04 $ 106,404.48 $ 124,808.32 $ 143,212.16
14% Hourly $ 31.93 $ 34.37 $ 36.92 $ 36.54 $ 42.86 $ 49.18
234
FY 2022/23 Current vs Revised Pay Plan DRAFT Page 2 of 7
Effective March 26, 2023
Police
Current Pay Plan Revised Pay Plan
Classification FLSA FT/PT/S Minimum Midpoint Maximum Minimum Midpoint Maximum % Change
Police Cadet
NE FT Annual
$ 55,078.40
$ 62,483.20
13% Hourly
$ 26.48
$ 30.04
Police Officer
NE FT Annual
$ 65,416.00 $ 75,878.40 $ 86,340.80
$ 70,803.20 $ 83,054.40 $ 95,305.60
8% Hourly
$ 31.45 $ 36.48 $ 41.51
$ 34.04 $ 39.93 $ 45.82
Detective
NE FT Annual
$ 65,416.00 $ 75,878.40 $ 86,340.80
$ 70,803.20 $ 83,054.40 $ 95,305.60
8% Hourly
$ 31.45 $ 36.48 $ 41.51
$ 34.04 $ 39.93 $ 45.82
Juvenile Detective
NE FT Annual
$ 65,416.00 $ 75,878.40 $ 86,340.80
$ 70,803.20 $ 83,054.40 $ 95,305.60
8% Hourly
$ 31.45 $ 36.48 $ 41.51
$ 34.04 $ 39.93 $ 45.82
Police Sergeant
NE FT Annual $ 91,166.40 $ 99,361.60 $ 107,556.80 $ 98,300.80 $ 115,294.40 $ 132,288.00
8% Hourly $ 43.83 $ 47.77 $ 51.71 $ 47.26 $ 55.43 $ 63.60
Police Lieutenant
E FT Annual
$ 104,728.00 $ 112,569.60 $ 120,452.80
$ 112,320.00 $ 131,747.20 $ 151,153.60
7% Hourly
$ 50.35 $ 54.12 $ 57.91
$ 54.00 $ 63.34 $ 72.67
Police Captain
E FT Annual
$ 111,633.60 $ 123,926.40 $ 136,198.40
$ 122,928.00 $ 144,185.60 $ 165,422.40
10% Hourly
$ 53.67 $ 59.58 $ 65.48
$ 59.10 $ 69.32 $ 79.53
235
FY 2022/23 Current vs Revised Pay Plan DRAFT Page 3 of 7
Effective March 26, 2023
Non-Exempt
Current Pay Plan Revised Pay Plan
Classification FLSA FT/PT/S Minimum Midpoint Maximum Minimum Midpoint Maximum % Change
Accounting
Specialist NE FT Annual $ 41,163.20 $ 50,835.20 $ 60,507.20 $ 43,492.80 $ 51,105.60 $ 58,718.40
6% Hourly $ 19.79 $ 24.44 $ 29.09 $ 20.91 $ 24.57 $ 28.23
Administrative
Assistant NE FT Annual $ 35,568.00 $ 43,908.80 $ 52,270.40 $ 38,084.80 $ 44,678.40 $ 51,251.20
7% Hourly $ 17.10 $ 21.11 $ 25.13 $ 18.31 $ 21.48 $ 24.64
Animal Control
Officer NE FT Annual $ 43,222.40 $ 53,372.80 $ 63,523.20 $ 39,312.00 $ 46,113.60 $ 52,915.20
-9% Hourly $ 20.78 $ 25.66 $ 30.54 $ 18.90 $ 22.17 $ 25.44
Athletics Crew
Leader NE FT Annual $ 43,222.40 $ 53,372.80 $ 63,523.20 $ 44,491.20 $ 52,187.20 $ 59,883.20
3% Hourly $ 20.78 $ 25.66 $ 30.54 $ 21.39 $ 25.09 $ 28.79
Athletics Field
Technician NE FT Annual $ 35,568.00 $ 43,908.00 $ 52,270.40 $ 34,403.20 $ 40,352.00 $ 46,300.80
-3% Hourly $ 17.10 $ 21.11 $ 25.13 $ 16.54 $ 19.40 $ 22.26
Communications &
Marketing
Specialist
NE FT Annual $ 50,024.00 $ 61,776.00 $ 73,548.80 $ 51,459.20 $ 60,361.60 $ 69,264.00
3% Hourly $ 24.05 $ 29.70 $ 35.36 $ 24.74 $ 29.02 $ 33.30
Code Enforcement
Officer NE FT Annual $ 43,222.40 $ 53,372.80 $ 63,523.20 $ 45,510.40 $ 53,393.60 $ 61,256.00
5% Hourly $ 20.78 $ 25.66 $ 30.54 $ 21.88 $ 25.67 $ 29.45
Crime Analyst
NE FT Annual $ 47,652.80 $ 58,864.00 $ 70,033.60 $ 50,377.60 $ 59,092.80 $ 67,787.20 6%
Hourly $ 22.91 $ 28.30 $ 33.67 $ 24.22 $ 28.41 $ 32.59
Evidence
Custodian/Patrol
Assistant
NE FT Annual $ 43,222.40 $ 53,372.80 $ 63,523.20 $ 39,998.40 $ 46,924.80 $ 53,830.40 -7%
Hourly $ 20.78 $ 25.66 $ 30.54 $ 19.23 $ 22.56 $ 25.88
Parks Maintenance
Worker NE FT/PT Annual $ 33,862.40 $ 41,808.00 $ 49,774.40 $ 34,403.20 $ 40,352.00 $ 46,300.80 2%
Hourly $ 16.28 $ 20.10 $ 23.93 $ 16.54 $ 19.40 $ 22.26
Parks Crew Leader
NE FT Annual $ 43,222.40 $ 53,372.80 $ 63,523.20 $ 44,491.20 $ 52,187.20 $ 59,883.20 3%
Hourly $ 20.78 $ 25.66 $ 30.54 $ 21.39 25..09 $ 28.79
236
FY 2022/23 Current vs Revised Pay Plan DRAFT Page 4 of 7
Effective March 26, 2023
Non-Exempt (Con’t)
Current Pay Plan Revised Pay Plan
Classification FLSA FT/PT/S Minimum Midpoint Maximum Minimum Midpoint Maximum % Change
Parks Irrigator
NE FT Annual $ 33,862.40 $ 41,808.00 $ 49,774.40 $ 38,105.60 $ 44,699.20 $ 51,272.00 13%
Hourly $ 16.28 $ 20.10 $ 23.93 $ 18.32 $ 21.49 $ 24.65
Permit Technician
NE FT Annual $ 39,208.00 $ 48,422.40 $ 57,616.00 $ 38,542.40 $ 45,198.40 $ 51,854.40 -2%
Hourly $ 18.85 $ 23.28 $ 27.70 $ 18.53 $ 21.73 $ 24.93
Records Analyst
NE FT Annual $ 39,208.00 $ 48,422.40 $ 57,616.00 $ 43,305.60 $ 50,793.60 $ 58,281.60 10%
Hourly $ 18.85 $ 23.28 $ 27.70 $ 20.82 $ 24.42 $ 28.02
Recreation
Coordinator NE FT Annual $ 50,024.00 $ 61,776.00 $ 73,548.80 $ 46,384.00 $ 54,412.80 $ 62,420.80 -7%
Hourly $ 24.05 $ 29.70 $ 35.36 $ 22.30 $ 26.16 $ 30.01
Senior
Administrative
Assistant
NE FT Annual $ 39,208.00 $ 48,422.40 $ 57,616.00 $ 42,224.00 $ 49,524.80 $ 56,825.60 8%
Hourly $ 18.85 $ 23.28 $ 27.70 $ 20.30 $ 23.81 $ 27.32
Street Maintenance
Worker NE FT Annual $ 33,862.40 $ 41,808.00 $ 49,774.40 $ 35,963.20 $ 42,203.20 $ 48,422.40 6%
Hourly $ 16.28 $ 20.10 $ 23.93 $ 17.29 $ 20.29 $ 23.28
Streets Crew
Leader NE FT Annual $ 43,222.40 $ 53,372.80 $ 63,523.20 $ 44,491.20 $ 52,187.20 $ 59,883.20 3%
Hourly $ 20.78 $ 25.66 $ 30.54 $ 21.39 $ 25.09 $ 28.79
237
FY 2022/23 Current vs Revised Pay Plan DRAFT Page 5 of 7
Effective March 26, 2023
Exempt
Current Pay Plan Revised Pay Plan
Classification FLSA FT/PT/S Minimum Midpoint Maximum Minimum Midpoint Maximum % Change
Accountant
E FT Annual $ 52,540.80 $ 64,875.20 $ 77,230.40 $ 55,161.60 $ 64,812.80 $ 74,464.00 5%
Hourly $ 25.26 $ 31.19 $ 37.13 $ 26.52 $ 31.16 $ 35.80
Assistant to the
Town Manager E FT Annual $ 67,038.40 $ 82,804.80 $ 98,550.40 $ 71,219.20 $ 83,553.60 $ 95,867.20 6%
Hourly $ 32.23 $ 39.81 $ 47.38 $ 34.24 $ 40.17 $ 46.09
Chief Financial
Analyst E FT Annual $ 67,038.40 $ 82,804.80 $ 98,550.40 $ 66,892.80 $ 78,478.40 $ 90,043.20 0%
Hourly $ 32.23 $ 39.81 $ 47.38 $ 32.16 $ 37.73 $ 43.29
Communication
s & Marketing
Director
E FT Annual $ 104,020.80 $ 128,460.80 $ 152,900.80 $ 105,955.20 $ 124,280.00 $ 142,604.80 2%
Hourly $ 50.01 $ 61.76 $ 73.51 $ 50.94 $ 59.75 $ 68.56
Community
Development
Director
E FT Annual $ 104,020.80 $ 128,460.80 $ 152,900.80 $ 112,320.00 $ 131,747.20 $ 151,174.40 8%
Hourly $ 50.01 $ 61.76 $ 73.51 $ 54.00 $ 63.34 $ 72.68
Deputy
Chief/Fire
Marshal
E FT Annual $ 103,355.20 $ 127,649.60 $ 151,944.00 $ 123,219.20 $ 144,539.20 $ 165,838.40 19%
Hourly $ 49.69 $ 61.37 $ 73.05 $ 59.24 $ 69.49 $ 79.73
Director of
Finance E FT Annual $ 104,020.80 $ 128,460.80 $ 152,900.80 $ 117,936.00 $ 138,340.80 $ 158,724.80 13%
Hourly $ 50.01 $ 61.76 $ 73.51 $ 56.70 $ 66.51 $ 76.31
Fire Chief
E FT Annual $ 126,422.40 $ 156,124.80 $ 185,848.00 $ 126,422.40 $ 156,124.80 $ 185,848.00 0%
Hourly $ 60.78 $ 75.06 $ 89.35 $ 60.78 $ 75.06 $ 89.35
Human
Resources
Director
E FT Annual $ 104,020.80 $ 128,460.80 $ 152,900.80 $ 116,022.40 $ 136,094.40 $ 156,145.60 12%
Hourly $ 50.01 $ 61.76 $ 73.51 $ 55.78 $ 65.43 $ 75.07
Parks and
Recreation
Director
E FT Annual $ 104,020.80 $ 128,460.80 $ 152,900.80 $ 117,936.00 $ 138,340.80 $ 158,724.80 13%
Hourly $ 50.01 $ 61.76 $ 73.51 $ 56.70 $ 66.51 $ 76.31
Parks
Superintendent E FT Annual $ 67,038.40 $ 82,804.80 $ 98,550.40 $ 69,035.20 $ 80,974.40 $ 92,913.60 3%
Hourly $ 32.23 $ 39.81 $ 47.38 $ 33.19 $ 38.93 $ 44.67 238
FY 2022/23 Current vs Revised Pay Plan DRAFT Page 6 of 7
Effective March 26, 2023
Exempt (Con’t)
Current Pay Plan Revised Pay Plan
Classification FLSA FT/PT/S Minimum Midpoint Maximum Minimum Midpoint Maximum % Change
Police Chief
E FT Annual $ 126,422.40 $ 156,124.80 $ 185,848.00 $ 126,422.40 $ 156,124.80 $ 185,848.00 0%
Hourly $ 60.78 $ 75.06 $ 89.35 $ 60.78 $ 75.06 $ 89.35
Recreation
Superintendent E FT Annual $ 67,038.40 $ 82,804.80 $ 98,550.40 $ 56,700.80 $ 66,497.60 $ 76,294.40 -15%
Hourly $ 32.23 $ 39.81 $ 47.38 $ 27.26 $ 31.97 $ 36.68
Streets
Superintendent E FT Annual $ 67,038.40 $ 82,804.80 $ 98,550.40 $ 59,966.40 $ 70,345.60 $ 80,704.00 -11%
Hourly $ 32.23 $ 39.81 $ 47.38 $ 28.83 $ 33.82 $ 38.80
239
FY 2022/23 Current vs Revised Pay Plan DRAFT Page 7 of 7
Effective March 26, 2023
Part-Time/Seasonal
Current Pay Plan Revised Pay Plan
Classification FLSA FT/PT/S Minimum Midpoint Maximum Minimum Midpoint Maximum % Change
Assistant Camp
Director E S Hourly
$ 12.00 $ 13.80 $ 15.60
$ 13.26 $ 15.55 $ 17.85 11%
Assistant Pool
Manager E S Hourly
$ 12.00 $ 13.80 $ 15.60
$ 13.77 $ 16.15 $ 18.53 15%
Assistant Swim
Coach E S Hourly
$ 12.00 $ 13.80 $ 15.60
$ 12.68 $ 14.87 $ 17.06 6%
Camp
Counselor E S Hourly
$ 10.00 $ 11.50 $ 13.00
$ 12.00 $ 14.08 $ 16.15 20%
Camp Director E S Hourly $ 13.50 $ 15.38 $ 17.55 $ 13.75 $ 16.13 $ 18.51 2%
Fitness
Instructor NE PT Hourly
$ 18.00 $ 20.70 $ 23.40
$ 18.00 $ 20.70 $ 23.40
0%
Head Swim
Coach E S Hourly
$ 17.50 $ 20.13 $ 22.75
$ 14.71 $ 17.26 $ 19.80 -16%
Lifeguard E S Hourly $ 10.00 $ 11.50 $ 13.00 $ 12.00 $ 14.08 $ 16.15 20%
Pool Cashier E S Hourly $ 8.00 $ 9.25 $ 10.50 $ 10.25 $ 12.02 $ 13.80 28%
Pool Manager E S Hourly $ 13.50 $ 15.38 $ 17.55 $ 15.45 $ 18.12 $ 20.79 14%
Pool Manager
II E S Hourly
$ 15.00 $ 17.25 $ 19.50
$ 16.22 $ 19.03 $ 21.83 8%
Seasonal
School
Crossing Guard NE S Hourly
$ 15.00 $ 17.25 $ 19.50
$ 15.00 $ 17.25 $ 19.50
0%
TC Park Gate
Attendant NE PT Hourly
$ 10.00 $ 11.50 $ 13.00
$ 11.06 $ 12.97 $ 14.88 11%
240
Page 1 of 2
To: Mayor and Town Council
From: Wade L. Carroll, Town Manager
CC: Tamara Smith, Assistant to the Town Manager
Anita Otterson, Town Secretary
Re: Ordinance for Amendment of Trophy Club Code of Ordinances to add Veterans
with Disabilities Parking to all Municipal Parking Lots, Town Council Meeting,
February 28, 2023
Agenda Item:
Consider approval of an Ordinance amending the Trophy Club Code of Ordinances Article 12.04
entitled “Parking” of Chapter 12 entitled “Traffic and Vehicles” of Section 12.04.009 “Parking for
disabled persons” by adopting a new subsection to 12.04.009 “Veterans with disabilities
parking.” Providing for the incorporation of additional new parking spaces within Town limits for
all veterans with disabilities who hold a veteran with disability tag but have not been granted
disabled parking by the State of Texas.
Strategic Link:
Safety & Security-Foster a Safe Environment for Residents and Visitors.
Background and Explanation:
The designated veterans with disabilities parking spaces are additional parking spaces for
veterans who hold a disabled veteran tag but not disabled parking by the State of Texas. These
dedicated parking spaces ensure each veteran with a disability has a space to park to access
amenities in our Town.
The State of Texas recognizes and honors all veterans with disabilities. The laws supporting
disabled parking privileges ensure that persons with disabilities have access to parking spaces.
During the 2021 Census Report, the Town of Trophy Club showed a population of 612 veterans,
and Denton County showed a population of 43,291. With proper veteran with disability parking,
we are providing the right to equal access where our veterans with disabilities citizens and visitors
play, shop, access businesses, and attend events.
To be inclusive of the needs of our war heroes and provide equal access and equal privileges
speaks volumes for our Town. It is in the best interest of the Town, residents, and visitors to add
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the veterans with disabilities parking for our veterans who hold disabled veteran tags, but not
disabled parking, to park in our designed veteran with disabilities parking spots on municipal-
owned parking lots. If approved, staff will add one disabled veteran parking spot at Town Hall,
Parks Barn, Harmony Park, TC Pool, two at Trophy Club Independence Park East, and two at the
Veteran’s Memorial Park. The Fire Station does not have the required parking to allow a disabled
veteran parking spot.
By adding designated veterans with disability parking, the Town is protecting the safety and
welfare of our veterans with disabilities citizens, and visitors. Adding inclusive parking creates a
distinction that our most vulnerable citizen's safety is a priority to the Trophy Club Mayor and
Council, staff, and community.
Financial Considerations:
The cost to install all parking poles and signs associated with this item is not to exceed $1,000.00
and will be funded from the Street Department General Fund Budget.
Legal Review:
Town Attorney has reviewed the amendment to the parking ordinance and approves the
changes.
Board/Commission/ or Committee Recommendation:
Not applicable
Staff Recommendation:
Staff recommends approval of Ordinance No. 2023-04
Attachments:
•Ordinance No. 2023-04
Town Council Approval:
Mayor Alicia Fleury or designee
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TOWN OF TROPHY CLUB, TEXAS
ORDINANCE NO. 2023-04
AN ORDINANCE OF THE TOWN OF TROPHY CLUB, TEXAS
AMENDING ARTICLE 12.04 ENTITLED “PARKING” OF CHAPTER 12
ENTITLED “TRAFFIC AND VEHICLES” OF THE CODE OF
ORDINANCES OF THE TOWN OF TROPHY CLUB, TEXAS BY
ADOPTING A NEW SUBSECTION TO 12.04.009 “VETERANS WITH
DISABILITIES PARKING”; PROVIDING FOR THE INCORPORATION
OF ADDITIONAL NEW PARKING SPACES WITHIN TOWN LIMITS FOR
ALL VETERANS WITH DISABILITIES WHO HOLD A VETERAN WITH
DISABILITY TAG, BUT HAVE NOT BEEN GRANTED DISABLED
PARKING BY THE STATE OF TEXAS; PROVIDING A CUMULATIVE
REPEALER CLAUSE; PROVIDING A SAVINGS CLAUSE; PROVIDING
A SEVERABILITY CLAUSE; PROVIDING A PUBLICATION CLAUSE;
PROVIDING A PENALTY NOT TO EXCEED FIVE HUNDRED DOLLARS
($500.00) AND A SUBSEQUENT SEPARATE OFFENSE SHALL BE
DEEMED COMMITTED DURING OR ON WHICH A VIOLATION
OCCURS; PROVIDING FOR ENGROSSMENT AND ENROLLMENT;
AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the Town has evaluated Section 12.04.009 entitled “Parking for
disabled persons” of Article 12.04 entitled “Parking” of Chapter 12 entitled “Traffic and
Vehicles” of the Code of Ordinances of the Town which provides for regulations
governing parking for disabled persons within the Town; and
WHEREAS, an additional subsection including veterans with disabilities parking
will be added to provide inclusion within the veteran and disabled community; and
WHEREAS, a home-rule municipality has full power of local self-government,
pursuant to Texas Local Government Code, Title 2, Subtitle D, Chapter 51, Section
51.072(a); and
WHEREAS, a home-rule municipality may enforce ordinances necessary to
protect health, life, and property and to preserve the good government, order, and
security of the municipality and its inhabitants, pursuant to Texas Local Government
Code, Title 2, Subtitle D, Chapter 54, Section 54.004; and
WHEREAS, pursuant to Texas Transportation Code, Section 681.008(b)
authorizes such parking privileges to certain veterans and military award recipients, who
the vehicle is being operated by or for the transportation of the person to whom the
plates were issued; and
WHEREAS, pursuant to Trophy Club Town Charter, Article I, Section 3.14(a),
those acts of the Council shall be by ordinance which adopt or amend an administrative
code; and
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WHEREAS, the Town Council has determined it to be in the best interest of the
Town and its residents to add the aforementioned subsection to protect the safety and
welfare of its citizens; and
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE
TOWN OF TROPHY CLUB, TEXAS:
SECTION 1.
INCORPORATION OF PREMISES
That the above and foregoing premises are true and correct and are incorporated
herein and made a part hereof for all purposes.
SECTION 2.
AMENDMENTS
12.04 Section 12.04.009 entitled “Parking for disabled persons” of Article 12.04 entitled
“Parking” of Chapter 12 entitled “Traffic and Vehicles” of the Code of Ordinances of the
Town of Trophy Club is hereby repealed in its entirety and a new Subsection
12.04.009(D) entitled “Veterans with disabilities parking” of Article 12.04 entitled
“Parking” of Chapter 12 entitled “Traffic and Vehicles” of the Code of Ordinances of the
Town of Trophy Club is hereby adopted to be and read in its entirety as follows:
“Sec. 12.04.009 Parking for disabled persons
(a) Posting of sign; width of spaces.
The town, or any private property owner within the town, who voluntarily
designates a parking space or area specifically for a person who is disabled by
reason of mobility problems that substantially impair the person’s ability to
ambulate or who is legally blind, must post a sign that conforms to the design
established and approved by the state department of transportation and the
space or spaces provided must conform to the width requirements set by the
department.
(b) Parking privileges.
Any vehicle displaying a symbol, label, or other device authorized by the state
department of transportation and issued to the operator thereof for use in
transporting a disabled person, when operated by or for the transportation of
such disabled person, shall be allowed to park for unlimited periods in any
parking space or parking area designated specifically for the physically
handicapped. Such vehicle, being properly marked as provided by such statute,
is exempt from the payment of fees or penalties imposed by any code of the city
for parking at a meter or in a space with a limitation on the length of time for
parking unless the vehicle was not parked at the time by or for the transportation
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of a disabled person. This exemption does not apply to fees or penalties imposed
by a branch of the United States government. This section does not permit
parking a vehicle at a place or time that parking is prohibited.
(c) Offenses; penalty.
A person commits an offense if the person is neither temporarily or permanently
disabled nor transporting a temporarily or permanently disabled person and
parks a vehicle with such special device or displaying a temporarily disabled
person identification card in any parking space or parking area designated
specifically for the disabled. A person commits an offense if the person parks a
vehicle neither displaying the special device nor displaying a temporarily disabled
person identification card in a parking space or parking area designated
specifically for the disabled. An offense under this section is punishable by a fine
of not less than fifty dollars ($50.00) nor more than five hundred dollars
($500.00).
(d) Veterans with disabilities parking.
A designated veterans with disabilities parking space will be located at every
municipal-owned parking lot located within the Town of Trophy Club town limits.
Veterans with disabilities who hold a veteran with disability license plate but have
not been granted a disabled parking placard or a license plate with the
International Symbol of Access by the State of Texas, may park in these
additional designated veterans with disabilities parking spaces. Parking spaces
are free of charge, and do not require a municipal permit.
SECTION 3.
CUMULATIVE REPEALER
This Ordinance shall be cumulative of all other Ordinances and shall not repeal
any of the provisions of such Ordinances except for those instances where there are
direct conflicts with the provisions of this Ordinance. Ordinances or parts thereof in
force at the time this Ordinance shall take effect and that are inconsistent with this
Ordinance are hereby repealed to the extent that they are inconsistent with this
Ordinance. Provided however, that any complaint, action, claim or lawsuit which has
been initiated or has arisen under or pursuant to such Ordinance on the date of
adoption of this Ordinance shall continue to be governed by the provisions of that
Ordinance and for that purpose the Ordinance shall remain in full force and effect.
SECTION 4.
SAVINGS
All rights and remedies of the Town of Trophy Club, Texas, are expressly saved
as to any and all Violations of the provisions of any other Ordinance affecting the
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veterans with disabilities parking, within the Town which have secured at the time of the
effective date of this Ordinance; and, as to such accrued Violations and all pending
litigation, both civil and criminal, whether pending in court or not, under such
Ordinances same shall not be affected by this Ordinance but may be prosecuted until
final disposition by the courts.
SECTION 5.
SEVERABILITY
If any section, article, paragraph, sentence, clause, phrase or word in this
Ordinance, or its application 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 this 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 6.
PUBLICATION
The Town Secretary of the Town of Trophy Club is hereby directed to the
Caption, Penalty Clause, and Effective Date Clause of this Ordinance as required by
Section 52.011 of the Texas Local Government Code.
SECTION 7.
PENALTY
It shall be unlawful for any person to violate any provision of this Ordinance, and
any person violating or failing to comply with any provision of this Ordinance shall be
fined, upon conviction, not less than One Dollar ($1.00) nor more than Five Hundred
Dollars ($500.00), and a separate offense shall be deemed committed upon each day
during or on which a violation occurs or continues. The penalty provided herein shall be
cumulative of all other remedies available for enforcement of the provisions of this
Ordinance. The remedy provided herein shall be cumulative of all other remedies
authorized by law.
SECTION 8.
ENGROSSMENT AND ENROLLMENT
The Town Secretary of the Town of Trophy Club is hereby directed to engross
and enroll this Ordinance in the Ordinance records of the Town and to properly record
this Ordinance in accordance with the Town Charter.
SECTION 9.
EFFECTIVE DATE
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This Ordinance shall become effective from and after its date of passage and
publication as required by law.
PASSED AND APPROVED by the Town Council of the Town of Trophy Club,
Texas this the 28th day of February, 2023.
Alicia L. Fleury, Mayor
Town of Trophy Club, Texas
[SEAL]
ATTEST:
Anita Otterson, Town Secretary
Town of Trophy Club, Texas
APPROVED TO AS FORM:
J. David Dodd III, Town Attorney
Town of Trophy Club, Texas
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