Agenda Packet TC 12/13/2007 - Special Session 1
Town of Trophy Club
Town Council Special Session Agenda
100 Municipal Drive
Trophy Club, Texas 76262
Public Services Conference Room
Thursday, December 13, 2007
7:00 P.M.
A.1 Call to order and announce a quorum.
A.2 Invocation.
A.3 Pledge of allegiance to the American Flag.
Pledge of allegiance to the Texas Flag.
"Honor the Texas flag; I pledge allegiance to thee, Texas, one state under God,
one and indivisible."
B.1 Consent Agenda: Discuss and take appropriate action regarding the ratification
of approval of the Subdivider's Agreement for an 18.368 acre tract of land known
as The Highlands at Trophy Club Neighborhood 9.
C.1 Public Hearing: Consider an Ordinance of the Town Council of the Town of
Trophy Club amending and approving a Service and Assessment Plan and
Assessment Roll for the Town of Trophy Club Public Improvement District NO. 1
Initially adopted and pursuant to Ordinance No. 2007-29.
D.1 Discuss and take appropriate action regarding an Ordinance of the Town Council
of the Town of Trophy Club amending and approving a Service and Assessment
Plan and Assessment Roll for the Town of Trophy Club Public Improvement
District NO. 1 Initially adopted and pursuant to Ordinance No. 2007-29.
D.2 Discuss and take appropriate action regarding an Ordinance approving and
authorizing the issuance and sale of the Town of Trophy Club Public
Improvement District No. 1 Special Assessment Revenue Bonds, Series 2007
(The Highlands at Trophy Club Project; approving and authorizing an Indenture
of Trust, a Bond Purchase Contract; a limited offering memorandum, a continuing
disclosure agreement and other agreements and documents in connection
therewith; making findings with respect to the issuance of such Bonds; and
providing an effective date.
D.3 Discuss, provide input and/or take action as appropriate regarding the following
documents and matters related to the Trophy Club Public Improvement District
No. 1 (The Highlands at Trophy Club) for infrastructure and related
improvements:
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A. Discuss and take appropriate action on a Construction and Funding Agreement
between the Town and 831 Trophy, L.P. concerning the construction of certain
public improvements within the Town of Trophy Club Public Improvement District
No. 1 (The Highlands of Trophy Club Project).
B. Discuss and take appropriate action on Amendments to the Landowner Agreement
for the Town of Trophy Club Public Improvement District No. 1 (The Highlands of
Trophy Club Project).
E.1 Adjourn.
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COUNCIL MEMORANDUM
From: The Office of the Town Manager Date: 12-13-2007
Subject: Agenda Item No.A.1
Call to order and announce a quorum.
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COUNCIL MEMORANDUM
From: The Office of the Town Manager Date: 12-13-2007
Subject: Agenda Item No.A.2
Invocation.
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COUNCIL MEMORANDUM
From: The Office of the Town Manager Date: 12-13-2007
Subject: Agenda Item No.A.3
Pledge of allegiance to the American Flag.
Pledge of allegiance to the Texas Flag.
"Honor the Texas flag; I pledge allegiance to thee, Texas, one state under God,
one and indivisible."
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COUNCIL MEMORANDUM
From: The Office of the Town Manager Date: 12-13-2007
Subject: Agenda Item No.B.1
Consent Agenda: Discuss and take appropriate action regarding the
ratification of approval of the Subdivider's Agreement for an 18.368 acre
tract of land known as The Highlands at Trophy Club Neighborhood 9.
EXPLANATION:
On December 3, 2007, Council took action approving the Subdivider’s Agreement for
Neighborhood 9 of The Highlands at Trophy Club pending approval by Town Engineer
and Town Staff of the correct estimates of the public improvements and facilities for this
project. Council requested that the corrected agreement come back for ratification on
December 13th, 2007.
RECOMMENDATION: The Subdivider’s Agreement has been revised and is attached
for Council review and approval.
ACTION BY COUNCIL:
(bse)
Attachments: 1.Revised Agreement
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THE HIGHLANDS AT TROPHY CLUB NEIGHBORHOOD 9
SUBDIVIDER'S AGREEMENT
An AGREEMENT between the Town of Trophy Club, Texas (hereinafter referred
to as the "TOWN") and BDMR Development, LLC acting by and through its duly
authorized representative (hereinafter referred to as the "DEVELOPER"), for the
installation of public improvements and facilities within the TOWN limits of Trophy Club,
Texas, for Neighborhood 9 of The Highlands at Trophy Club, more particularly
described as a tract of land consisting of approximately 18.368 acres of land,
hereinafter being referred to collectively as the "PROJECT," and such public
improvements being more particularly described in Section II of this AGREEMENT. It is
understood by and between the parties that this AGREEMENT is applicable to the lot(s)
contained within the Final Plat as presented to TOWN Staff on November 15, 2007 and
to the offsite improvements necessary to support the PROJECT, more particularly
described in Section II of this AGREEMENT. It is further agreed that this
AGREEMENT, when properly signed and executed, shall satisfy the requirements of the
TOWN’S Subdivision Regulations.
I. GENERAL REQUIREMENTS
A. It is agreed and understood by the parties hereto that the DEVELOPER has
employed a registered public surveyor licensed to practice in the State of
Texas to prepare a final plat of the PROJECT.
The Project is planned to be platted for Single Family Residential together
with allowed incidental and accessory uses. The Project received
preliminary plat approval from the Town on January 22, 2007.
B. It is agreed and understood by the parties hereto that the DEVELOPER has
employed a civil engineer licensed to practice in the State of Texas for the design and
preparation of the plans and specifications for the construction of all public
improvements and facilities described in Section II and covered by this AGREEMENT.
Unless otherwise specified herein, such plans and specifications shall be in accordance
with the TOWN’S "Design Standards for Paving, Drainage and Utility Improvements"
and the North Central Texas Council of Governments’ (NCTCOG) Standard
Specifications for Public Works Construction, as presently adopted.
C. The DEVELOPER will award its own construction contract for the
construction of all PROJECT street, sanitary sewer, and other drainage
public improvements and facilities for the completion of the Project. The
DEVELOPER agrees to employ a construction contractor(s) who is approved
by the TOWN, said contractor(s) to meet TOWN and statutory requirements
for being insured, licensed and bonded to perform work in public rights-of-
way and to be qualified in all respects to bid on public streets and public
projects of a similar nature. The DEVELOPER agrees to submit contract
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documents to the TOWN and participate in a pre-construction meeting with
the TOWN and all Developer contractors.
D. Prior to the execution of this Agreement, the commencement of construction,
the filing of the Final Plat, or the issuance of any building permits, the
DEVELOPER shall present to the TOWN a performance bond(s), payment
bond(s) and maintenance bond(s), meeting the requirements of Chapter
2253 of the Texas Government Code. Each bond shall individually
guarantee and agree to pay an amount equal to one hundred percent
(100%) of the value of the construction costs (as determined by the TOWN
Engineer) for all public improvements and facilities to be constructed by or on
behalf of the Developer for the Project. Any surety company through which a
bond is written shall be a surety company duly authorized to do business in
the State of Texas, provided that the TOWN, through the Town Attorney,
shall retain the right to reject any surety company as a surety for any work
under this or any other SUBDIVIDER’S AGREEMENT regardless of such
Company’s authorization to do business in Texas. Approvals by the TOWN
shall not be unreasonably withheld or delayed.
1) As an alternative to providing a surety bond for performance and a surety
bond for maintenance as specified hereinabove, Developer may provide
financial assurances for performance and maintenance in the form of a
cash deposit, a certificate of deposit, or irrevocable letter of credit.
Provided however, that such alternative financial assurances shall only be
allowed if each meets all requirements specified in Section 7.2 of the
Town of Trophy Club Subdivision Regulations. All such alternative
financial assurances must be on forms approved by the Town Attorney.
2) As an alternative to the Developer providing a performance bond,
payment bond, and maintenance bond, as specified above, Developer
may provide financial assurances for performance, payment and
maintenance from a single general contractor for the Project, provided
that such assurances meet all other requirements specified hereinabove
and the Town is named as a dual obligee on each such bond.
Additionally, such alternative financial assurances shall only be allowed if
each meets all requirements specified in Section 7.2 of the Town of
Trophy Club Subdivision Regulations. All such alternative financial
assurances must be on forms approved by the Town Attorney.
E. The performance bond(s) shall be submitted in statutory form guaranteeing
the full and faithful completion of the facilities and improvements required
under this Agreement for completion of the PROJECT to the TOWN and
provide for payment to the TOWN of such amounts up to the total remaining
amounts required for the completion of the PROJECT if the work is not
completed as required hereunder.
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F. The payment bond(s) shall be submitted in statutory form guaranteeing
payment of all labor and material costs of the Project and shall be furnished
solely for the protection of all claimants supplying labor and material in the
performance of the work provided for under this AGREEMENT. The
maintenance bond(s) shall guarantee the payment of any and all necessary
maintenance of the Project for a period of two (2) years following acceptance
of the public improvements and facilities by the TOWN, in an amount equal
to one hundred (100%) percent of the value of the construction costs of all
the public improvements and facilities to be constructed under this
Agreement in respect to the Project.
G. Any guarantee of performance, maintenance, or payment instrument (e.g.,
performance bond, payment bond, maintenance bond, letters of credit,
and/or cash deposit or the like) (individually a “Guarantee” or collectively the
“Guarantees”) submitted by or through the DEVELOPER on a form other
than the one which has been previously approved by the TOWN as
"acceptable" shall be submitted to the Town Attorney at the DEVELOPER'S
expense, and construction of the Project shall not commence until the Town
Attorney has approved such Guarantees. Approval by the TOWN (and the
Town Attorney) shall not be unreasonably withheld or delayed. All such
Guarantees shall be maintained in full force and effect until such time as the
DEVELOPER has fully complied with the terms and conditions of this
AGREEMENT as agreed to in writing by the TOWN, and failure to keep
same in force and effect shall constitute a breach of this AGREEMENT.
Failure to maintain performance and payment Guarantees meeting the
requirements of this AGREEMENT shall result in a stop work order being
issued by the Town. Additionally, all Guarantees furnished hereunder which
expire prior to the completion of construction or applicable warranty periods
shall be renewed in amounts designated by the TOWN and shall be
delivered to the TOWN and approved by the TOWN on or before the tenth
(10th) banking day before the date of expiration of any then existing
Guarantee. If the DEVELOPER fails to deliver any Guarantee to the TOWN
within the time prescribed herein, such failure shall constitute a breach of this
AGREEMENT and shall be a basis for the TOWN to draw on all or any
portion of any existing Guarantee in addition to any or all other remedies
available to the TOWN. The DEVELOPER further agrees to release and
forever hold the TOWN harmless from any losses, damages and/or
expenses incurred by the DEVELOPER for any delays due to the TOWN'S
review of any Guarantee which is in a form other than one which has been
previously approved by the TOWN. The TOWN requires the DEVELOPER
to have all Guarantee forms approved prior to the commencement of work
and construction of improvements.
H. It is further agreed and understood by the parties hereto that upon
acceptance thereof by the TOWN of all public improvements and facilities as
described in Section II of this Agreement, title to all such improvements and
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facilities shall be vested in the TOWN, and the DEVELOPER hereby
relinquishes any right, title, or interest in and to such improvements and
facilities or any part thereof. It is further understood and agreed that until the
TOWN accepts such improvements and facilities, the TOWN shall have no
liability or responsibility with respect thereto. Acceptance of the
improvements and facilities shall occur at such time as the TOWN, through
its TOWN Engineer, provides the DEVELOPER with a written
acknowledgment that all improvements and facilities are complete, have
been inspected and approved and are being accepted by the TOWN.
I. The DEVELOPER’S Engineer has prepared detailed estimates of
$777,512.58 $389,821.55 and the TOWN Engineer has approved an
estimate of $777,512.58 $389,821.55 for the cost of public improvements
and facilities for this Project. The detailed cost estimates are a part of this
AGREEMENT and are attached hereto as "Attachment A" and incorporated
herein. The TOWN shall not accept any construction improvements outside
of the Project and the two (2) year warranty for such improvements shall not
commence until all construction activities are completed and accepted by the
TOWN.
J. Upon TOWN’S approval and acceptance of the final plat and the engineering
plans, the final plat will be recorded with the County Clerk of Denton County.
No building permits will be issued in for any lots on/in the Project until the
final plat is filed and the public improvements and facilities specified herein
are completed and accepted by the TOWN.
K. The DEVELOPER, DEVELOPER'S contractors (prime, general and major
subcontractors) and TOWN, as well as any other third party deemed
necessary by the Town, shall participate in a pre-construction conference
prior to the initiation of any work. At or prior to the pre-construction meeting,
Developer shall provide the TOWN with the following documents: 1) Two (2)
copies of all executed construction contracts; 2) List of all
contractors/subcontractors and their project assignments; 3) Five (5) sets
(and additional sets as necessary for any contractors) of approved
construction plans and specifications. This list of contractors/subcontractors
shall be updated within seven days of any changes. The DEVELOPER
agrees to give the TOWN at least twenty-four (24) hours prior written notice
of his/her intent to commence construction of all public improvements and
facilities, so that the TOWN, if it so desires, may have its representatives
available to inspect the beginning and continuing progress of all work.
Developer shall submit all documentation evidencing that each of the
Guarantees required under this Agreement have been provided and all
required insurance has been obtained prior to the pre-construction meeting.
L. The DEVELOPER agrees to notify all contractors and subcontractors
working on the PROJECT that all their work is subject to inspection by a
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TOWN Inspector at any time, and that such inspection may require a
certification by the contractors and subcontractors of the type, kind, and
quality of materials used on the PROJECT.
M. Should any work or construction of improvements or facilities on the
PROJECT which has not been contemplated in the current construction
documents (plans and specifications), the plat, or this AGREEMENT,
become necessary due to site conditions, then the DEVELOPER shall be
required to contact in writing (with a copy to the TOWN of Trophy Club), with
the TOWN Engineer to determine how such work or construction should
progress. The DEVELOPER further agrees to follow all reasonable
recommendations and requirements imposed by the TOWN Engineer in such
instance. (Addresses for points of contact are as follows:)
Town of Trophy Club Teague, Nall & Perkins
Mr. Brandon Emmons, Town
Manager
Mr. Tom Rutledge, Town Engineer
100 Municipal Drive 1100 Macon Street
Trophy Club, Texas 76262 Fort Worth, Texas 76102
Phone: 682/831-4600 Phone: 817.336.5773
Fax: 817.490.0705 Fax: 817.336.2813
Email:
bemmons@ci.trophyclub.tx.us
Email: trutledge@tnp-online.com
N. The DEVELOPER agrees to cause all work and construction of
improvements and facilities to be stopped upon twenty-four (24) hour
notification from the TOWN Engineer of nonconforming improvements,
including the materials used and the methods of installation. The
DEVELOPER further agrees to correct all nonconformities in accordance
with the TOWN Engineer’s instructions.
O. The DEVELOPER is encouraged not to convey title of any lots of the
PROJECT, until all construction in respect to the PROJECT required in
Section II is complete and the TOWN has approved and accepted the work
and improvements in respect thereof. The DEVELOPER understands that
the TOWN will issue no building permits for improvements on any lot in the
Project until all public improvements and facilities in respect to the Project
are completed in accordance with this Agreement. Further, DEVELOPER
agrees to inform all persons or entities purchasing the lots or any interest in
the lots that TOWN will not issue any building permits until all public
improvements and facilities are completed in accordance with this
Agreement.
P. After completion and prior to acceptance of all work, the DEVELOPER must
furnish to the TOWN an affidavit of all bills paid.
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Q. Developer is responsible for maintenance of all common areas.
II. PUBLIC IMPROVEMENTS AND FACILITIES TO BE CONSTRUCTED
A. The following public improvements and facilities are to be constructed and
completed in accordance with the approved plans and specifications as
described in Attachment “B”:
1) Streets.
2) Drainage and Storm Sewer.
3) Sewer.
4) Water Distribution System.
5) Landscaping.
6) Fences/Walls/Retaining Walls.
7) Signs.
8) Driveways and Walkways.
9) Lights
10) Common Area
B. Other.
1. Bench marks to be located as shown on the approved plans.
2. Upon completion, three (3) sets of as-builts/record drawings and one (1)
set of reproducible (Mylar) drawings shall be submitted to the TOWN
within two (2) months following the acceptance of the public
improvements and facilities.
3. Testing
The Developer shall provide all geotechnical and materials tests required
by the TOWN Engineer and TOWN Inspector at the DEVELOPER’S cost
in accordance with Section 7.03 of Article 7, Chapter 12 of the Town’s
Code of Ordinances. Such tests shall be conducted by an independent
laboratory acceptable to the Town.
4. Permits
The DEVELOPER will pay a Community Facilities inspection fee in the
amount of $38,875.63 $19,491.08 (5% of $777,512.58$389,821.55) to
cover the cost of TOWN inspection fees as related to the construction of
the Project. The Developers may be obligated to pay other TOWN fees as
set forth in the TOWN’S Schedule of Fees, as may be amended from time
to time. The DEVELOPER will be responsible for obtaining any other
permits which may be required by other federal, state or local authorities.
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5. Planned Development District No. 27.
Developer shall construct and maintain all improvements in accordance
with the TOWN approved Planned Development District No. 27 and all
TOWN approved amendments thereto.
III. GENERAL PROVISIONS
A. The DEVELOPER agrees to furnish and maintain at all times prior to the
TOWN’S final acceptance of the public improvements and community
facilities for the Project, an owners protective liability insurance policy naming
the TOWN as insured for property damage and bodily injury in the amounts.
Coverage shall be on an “occurrence” basis and shall be issued with a
combined bodily injury and property damage minimum limit of $600,000 per
occurrence and $1,000,000 aggregate.
B. Exclusive venue of any action brought hereunder shall be in Denton, Denton
County, Texas.
C. Approval by the TOWN Engineer of any plans, designs or specifications
submitted by the DEVELOPER pursuant to this AGREEMENT shall not
constitute or be deemed to be a release of the responsibility and liability of
the DEVELOPER, his engineer, employees, officers or agents with respect to
the construction of any of the PROJECT’S improvements or facilities, or for
the accuracy and competency of the PROJECT’S improvements and
facilities design and specifications prepared by the DEVELOPER'S
consulting engineer, his officers, agents, servants or employees, it being the
intent of the parties that the approval by the TOWN Engineer signifies the
TOWN'S approval on only the general design concept of the improvements
and facilities to be constructed. The DEVELOPER shall release, indemnify,
defend and hold harmless the TOWN, its officers, agents, servants and
employees, from any demands, actions, causes of action, obligations, loss,
damage, liability or expense, including attorneys fees and expenses, on
account of or with respect to damage to property and injuries, including
death, to any and all persons which may arise out of or result from any
defect, deficiency or negligence in the construction of the PROJECT’S public
improvements and facilities or with respect to the DEVELOPER'S Engineer’s
designs and specifications incorporated into any improvements and facilities
constructed in accordance therewith, and the DEVELOPER shall defend at
his own expense any suits or other proceedings brought against the TOWN,
its officers, agents, servants or employees, or any of them, on account
thereof, and pay all expenses and satisfy all judgments which may be
incurred or rendered against them or any of them in connection herewith. All
responsibility and liability for drainage to adjacent and downstream properties
from development of this PROJECT will accrue to the DEVELOPER.
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D. Liability for construction. The DEVELOPER, its successors, permittees,
permitted assigns, vendors, grantees and/or trustees do hereby fully release
and agree to indemnify, hold harmless and defend the TOWN, its officers,
agents, servants and employees from all losses, damage liabilities, claims,
obligations, penalties, charges, costs or expenses of any nature whatsoever,
for property damage, personal injury or death, resulting from or in any way
connected with this contract or the construction of the improvements or
facilities or the failure to safeguard construction work, or any other act or
omission of the DEVELOPER or its contractors or subcontractors, their
officers, agents, servants or employees related thereto.
E. Final Acceptance of Infrastructure. The TOWN will not issue a Letter of
Acceptance until all public facilities and improvements are completely
constructed (Final Completion) to the satisfaction of the TOWN Engineer or
his agent. However, upon Substantial Completion, a “punch list” of
outstanding items shall be presented to the Developer’s contractor(s)
indicating those outstanding items and their deficiencies that need to be
addressed for Final Completion of the Improvements.
F. Neither this Agreement nor any part hereof or any interests, rights, or
obligations herein, shall not be assigned by the DEVELOPER without the
express written consent of the TOWN Council.
G. All work performed under this AGREEMENT shall be completed within
eighteen months from the date hereof. In the event the work is not
completed within the eighteen (18) month period, the TOWN may, at its sole
election, draw down or otherwise exercise it rights under or with respect to
any Guarantee provided by the DEVELOPER and complete such work at
DEVELOPER'S expense; provided, however, that if the construction under
this AGREEMENT shall have started within the eighteen (18) month period,
the TOWN may agree to renew the AGREEMENT with such renewed
AGREEMENT to be in writing and in compliance with the TOWN policies in
effect at that time. Notwithstanding the foregoing, in the event that the
performance by either party of any of its’ obligations or undertakings
hereunder shall be interrupted or delayed by any occurrence and not
occasioned by the conduct of either party hereto, whether such occurrence
be an act of God or the common enemy or the result of war, riot, civil
commotion, or sovereign conduct, then upon written notice of such
occurrence, such party shall be excused from performance for a period of
time as is reasonably necessary after such occurrence to remedy the effects
thereof, and each party shall bear the cost of any expense it may incur due to
the occurrence.
H. This Subdivider's AGREEMENT shall be construed in accordance with the
Town of Trophy Club, Texas Subdivision Regulations and all other applicable
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ordinances. Any conflicts between the provisions of this Subdivider’s
AGREEMENT, the TOWN'S Subdivision Regulations, Town Ordinances, and
State and Federal law, shall be construed in favor of the Town’s ordinance(s)
as allowed by law, subject to Chapter 245 of the Local Government Code.
To the extent that any such conflict exists, only that portion of the
Subdivider’s AGREEMENT which is in conflict shall be severable from the
other provisions of the AGREEMENT, and such conflict shall in no manner
affect the validity or enforceability of the remaining provisions.
I. All rights, remedies and privileges permitted or available to the TOWN under
this AGREEMENT or at law or equity shall be cumulative and not alternative,
and election of any such right, remedy or privilege shall not constitute a
waiver or exclusive election of rights, remedies or privileges with respect to
any other permitted or available right, remedy or privilege. Additionally, one
instance of forbearance by the Town in the enforcement of any such right,
remedy or privilege, shall not constitute a waiver of such right, remedy or
privilege by the Town. A default under this Agreement by the TOWN shall
not result in a forfeiture of any rights, remedies, or privileges under this
Agreement by the TOWN.
SIGNED AND EFFECTIVE on the date last set forth below.
DEVELOPER:
By:
Date:
By:
Project Manager
Date:
TOWN OF TROPHY CLUB:
By:
Mayor, Town of Trophy Club
ATTEST:
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___________________________
Town Secretary, Town of Trophy Club
Date: ______________________
APPROVED AS TO FORM:
____________________________
Town Attorney, Town of Trophy Club
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COUNCIL MEMORANDUM
From: The Office of the Town Manager Date: 12-13-2007
Subject: Agenda Item No.C.1
Public Hearing: Consider an Ordinance of the Town Council of the Town of
Trophy Club amending and approving a Service and Assessment Plan and
Assessment Roll for the Town of Trophy Club Public Improvement District
NO. 1 Initially adopted and pursuant to Ordinance No. 2007-29.
EXPLANATION:
In a Special Session on November 30th, 2007, the Town Council approved the Public
Hearing.
The Resolution is to approve the amendments to the Service and Assessment Plan
(SAP) which Council passed on May 7, 2007. The amendments are needed as the
original SAP had a 6.25% interest rate, with a 7.25% cap for fluctuation. Because the
market has increased the cap needs to be adjusted to 8.00% with the assessment bond
sale calculated at a 7.25%. The project list will remain the same.
RECOMMENDATION:
ACTION BY COUNCIL:
()
Attachments: 1. Notice of Public Hearing
2. Ordinance
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EXHIBIT A
TOWN OF TROPHY CLUB
NOTICE OF PUBLIC HEARING
NOTICE IS HEREBY GIVEN THAT a public hearing will be conducted by the Town Council of the
Town of Trophy Club, Texas on the 13th day of December, 2007 at 7:00 p.m. Trophy Club Public Service
Conference Room at 100 Municipal Drive, Trophy Club, Denton County, Texas 76262. The public
hearing will be held to consider proposed amendments to the Service and Assessment Plan for THE
TOWN OF TROPHY CLUB PUBLIC IMPROVEMENT DISTRICT NO. 1 (the “District”) pursuant to the
provisions of Chapter 372 of the Texas Local Government Code, as amended.
The general nature of the improvements within the District include, but are not limited to,
landscaping, entryway features, a development signature monument, water, wastewater, roadway or
drainage system improvements, trails, parks and open space.
The total cost of the public improvements is approximately $30,000,000.
The boundaries of the District are described in Exhibit A attached hereto and made a part hereof
for all purposes.
The amendments to the Service and Assessment Plan for the District include, but are not limited,
to the following:
• Modifications and revisions to the list of park improvements in Section III of the Plan, to
be undertaken within the District;
• Modifications and revisions to the maximum rate of interest borne by the Assessments in
Section VI of the Plan;
• Modifications and revisions to the Annual Installments listed on the Assessment Roll
attached to the Plan as Exhibit D; and
• Modification and revisions to the improvement projects and PID Costs listed in Section III,
Section IV, Exhibit B-1 and Exhibit B-2 of the Plan and generally described throughout
the Plan;
All written or oral objections will be considered at the public hearing.
A copy of the proposed Service and Assessment Plan and the proposed Assessment Roll, which
includes the assessments that have been levied against each parcel in the District, is available for public
inspection at the office of the Town Secretary, Town of Trophy Club, at 100 Municipal Drive, Trophy Club,
Texas 76262.
WITNESS MY HAND AND THE OFFICIAL SEAL OF THE TOWN, this 30th day of November
2007.
/s/ Lisa Ramsey_______________________________
Town Secretary
Town of Trophy Club, Texas
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EXHIBIT A
BOUNDARIES
The District includes approximately 609.683 acres located within the corporate limits of the Town
of Trophy Club, Denton County, Texas. The District is generally located to the north of Oakmont Drive,
Oak Hill Drive and the Quorum Condominiums, east of the Lakes Subdivision and Parkview Drive, south
of the Corp of Engineers Property and west of the Town’s eastern town limits. The District is more
particularly described by metes and bounds and such description is available for inspection at Town Hall,
100 Municipal Drive, Trophy Club, Texas 76262. For more information call (682) 831-4600.
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COUNCIL MEMORANDUM
From: The Office of the Town Manager Date: 12-13-2007
Subject: Agenda Item No.D.1
Discuss and take appropriate action regarding an Ordinance of the Town
Council of the Town of Trophy Club amending and approving a Service and
Assessment Plan and Assessment Roll for the Town of Trophy Club Public
Improvement District NO. 1 Initially adopted and pursuant to Ordinance No.
2007-29.
EXPLANATION:
RECOMMENDATION:
ACTION BY COUNCIL:
()
Attachments: 1. None (backup included under Item C.1
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COUNCIL MEMORANDUM
From: The Office of the Town Manager Date: 12-13-2007
Subject: Agenda Item No.D.2
Discuss and take appropriate action regarding an Ordinance approving and
authorizing the issuance and sale of the Town of Trophy Club Public
Improvement District No. 1 Special Assessment Revenue Bonds, Series
2007 (The Highlands at Trophy Club Project; approving and authorizing an
Indenture of Trust, a Bond Purchase Contract; a limited offering
memorandum, a continuing disclosure agreement and other agreements
and documents in connection therewith; making findings with respect to
the issuance of such Bonds; and providing an effective date.
EXPLANATION:
RECOMMENDATION:
ACTION BY COUNCIL:
()
Attachments: 1. Ordinance
2. Bond Purchase Agreement
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COUNCIL MEMORANDUM
From: The Office of the Town Manager Date: 12-13-2007
Subject: Agenda Item No.D.3
Discuss, provide input and/or take action as appropriate regarding the
following documents and matters related to the Trophy Club Public
Improvement District No. 1 (The Highlands at Trophy Club) for
infrastructure and related improvements:
A. Discuss and take appropriate action on a Construction and Funding
Agreement between the Town and 831 Trophy, L.P. concerning the
construction of certain public improvements within the Town of Trophy
Club Public Improvement District No. 1 (The Highlands of Trophy Club
Project).
B. Discuss and take appropriate action on Amendments to the Landowner
Agreement for the Town of Trophy Club Public Improvement District No. 1
(The Highlands of Trophy Club Project).
Attachments:
A. Construction and Funding Agreement.
B. Landowner Agreement
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COUNCIL MEMORANDUM
From: The Office of the Town Manager Date: 12-13-2007
Subject: Agenda Item No.E.1
Adjourn.