Agenda Packet TC 09/20/2010Town Council
Trophy Club Entities
Meeting Agenda
100 Municipal Drive
Trophy Club, Texas 76262
Svore Municipal Building Boardroom6:00 PMMonday, September 20, 2010
Call to order and announce a quorum.
1.2010-511-T Town Council Budget Discussion; discussion of the same.
Changes to Proposed Budget and Pages with Variances from PY.pdfAttachments:
INVOCATION
PLEDGES:
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."
CITIZEN PRESENTATIONS:
This is an opportunity for citizens to address the Council on any matter whether or not it
is posted on the agenda. The Council is not permitted to take action on or discuss any
presentations made to the Council at this time concerning an item not listed on the
agenda. The Council will hear presentations on specific agenda items prior to the
Council addressing those items. You may speak up to three (3) minutes or the time limit
determined by the Mayor or presiding officer. To speak during this item you must
complete the Speaker's form that includes the topic(s) of your statement. Topics of
presentation should be limited to matters over which the Council has authority.
PUBLIC HEARING
2.2010-495-T Town Council to conduct 2nd Public Hearing regarding the budget and proposed tax
rate increase for fiscal year October 1, 2010 to September 30, 2011 and Mayor to
announce the date, time and place of the vote on the tax rate.
Res 2010-18 (File ID 2010-428)Approve placement proposal to adopt 2010 tax rate.pdfAttachments:
3.2010-506-T Town Council to conduct a Public Hearing on the proposed 2010-2011 Fiscal Year
Budget pursuant to Section 9.05 of the Town Charter, "Council Action on Budget".
REGULAR SESSION
Town Council 1 of 141 Meeting Date: September 20, 2010
September 20, 2010Town Council Meeting Agenda
4.2010-504-T Consider and take appropriate action regarding an Ordinance providing for the
Issuance and Sale of Town of Trophy Club, Texas, General Obligation Refunding
Bonds, Series 2010; authorizing the execution and delivery of a Bond Purchase
Agreement, a Paying Agent/Registrar Agreement and an Escrow Agreement; levying a
tax in payment thereof; prescribing the form of said Bonds; approving the Official
Statement; and enacting other provisions relating thereto
Ord. 2010-XX 2010_GO_Refunding.pdfAttachments:
EXECUTIVE SESSION
5.2010-509-T Pursuant to Texas Government Code, Annotated, Subchapter 551, the Council will
enter into executive session to or deliberate the appointment, employment, evaluation,
reassignment, duties, discipline or dismissal of a public officer or employee pursuant to
Section 551.074 (a) (1) of the Texas Open
Meetings Act:
(1) Review and discuss the interviews for the position of Trophy Club Town Manager
RECONVENE INTO REGULAR SESSION
6.2010-510-T Consider and take appropriate action regarding the Executive Session.
7.2010-496-T Consider and take appropriate action regarding financial and variance report dated
August 2010.
August 2010 Monthly Financial Statements.pdfAttachments:
8.2010-505-T Consider and take appropriate action regarding the process for the adoption of the FY
2010-2011 Budget and Tax Rate.
9.2010-481-T Consider and take appropriate action regarding the creation of a Code of
Conduct/Ethics Ordinance and the establishment of an Ethics Commission.
TC Code of Ethics & Conduct Proposal Rev 7c.pdf
Financial Disclosure Statement Rev 3c.pdf
Ord. 2010-XX Draft Ethics Ordinance - Compliance with State law.pdf
Attachments:
10.2010-503-T Items for Future Agendas.
Items for Future Agendas.pdfAttachments:
11.2010-502-T Receive Mayor Pro Tem Rose's liaison report regarding the September 14, 2010
TCMUD1 Meeting; discussion of same.
A) Discuss and take appropriate action regarding the September 9, 2010 Joint Session
with TCMUD1.
12.2010-501-T Mayor and Council Updates regarding training opportunities, educational sessions, and
regional meetings; discussion of same.
ADJOURN
Town Council 2 of 141 Meeting Date: September 20, 2010
September 20, 2010Town Council Meeting Agenda
* 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 front window of the Svore Municipal
Building, 100 Municipal Drive, Trophy Club, Texas, on Friday, September 17, 2010 by
5:00 P.M. in accordance with Chapter 551, Texas Government Code.
_____________________________________________
Shannon DePrater, Deputy 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 682-831-4600, 48 hours in
advance and reasonable accommodations will be made to assist you.
I certify that the attached notice and agenda of items to be considered by this Board
was removed by me from the front window of the Svore Municipal Building, 100
Municipal Drive, Trophy Club, Texas, on the __________ day of
______________________, 2010.
________________________________, Title: ___________________________
Town Council 3 of 141 Meeting Date: September 20, 2010
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12010-511-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:9/15/2010 Town Council
On agenda:Final action:9/20/2010
Title:Town Council Budget Discussion; discussion of the same.
Attachments:Changes to Proposed Budget and Pages with Variances from PY.pdf
Action ByDate Action ResultVer.
Town Council 4 of 141 Meeting Date: September 20, 2010
File #: 2010-511-T, Version: 1
Title
Town Council Budget Discussion; discussion of the same.
Body
[Enter body here.]
Town Council 5 of 141 Meeting Date: September 20, 2010
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100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12010-495-T Name:
Status:Type:Agenda Item Public Hearing
File created:In control:9/14/2010 Town Council
On agenda:Final action:9/20/2010
Title:Town Council to conduct 2nd Public Hearing regarding the budget and proposed tax rate increase for
fiscal year October 1, 2010 to September 30, 2011 and Mayor to announce the date, time and place
of the vote on the tax rate.
Attachments:Res 2010-18 (File ID 2010-428)Approve placement proposal to adopt 2010 tax rate.pdf
Action ByDate Action ResultVer.
Town Council 50 of 141 Meeting Date: September 20, 2010
File #: 2010-495-T, Version: 1
Title
Town Council to conduct 2nd Public Hearing regarding the budget and proposed tax rate increase for fiscal year October
1, 2010 to September 30, 2011 and Mayor to announce the date, time and place of the vote on the tax rate.
Body
Mayor White will state the following for the record:
On September 27, 2010, the Town Council will hold a Public Meeting to adopt a 2010 tax rate that will exceed the lower
of the rollback rate or the effective tax rate. As required by law, a Public Hearing on a tax increase was held on
September 13, 2010 and tonight's is the second Public Hearing.
Goal #6: A vibrant, inclusive community with involved, caring residents
Provide superior customer services
Foster a well informed community
Town Council 51 of 141 Meeting Date: September 20, 2010
TOWN OF TROPHY CLUB, TEXAS
RESOLUTION NO. 2010-18
A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF
TROPHY CLUB, TEXAS APPROVING THE PLACEMENT OF A
PROPOSAL ON THE SEPTEMBER 27, 2010, TOWN COUNCIL
PUBLIC MEETING AGENDA TO ADOPT A 2010 TAX RATE
THAT WILL EXCEED THE LOWER OF THE ROLLBACK RATE
OR THE EFFECTIVE TAX RATE; CALLING PUBLIC HEARINGS
ON A TAX INCREASE TO BE HELD ON SEPTEMBER 13, 2010
AND SEPTEMBER 20, 2010; REQUIRING PUBLICATION OF A
NOTICE OF PUBLIC HEARING ON TAX INCREASE IN
ACCORDANCE WITH THE LAW; AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS, the Town Council desires to consider adoption of a tax rate of
$0.535 per $100 valuation, which will exceed the lower of the rollback rate or the
effective tax rate, in accordance with the requirements of the Texas Tax Code
Chapter 26 and to schedule public hearings on the proposed tax increase as
required by law;
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF
THE TOWN OF TROPHY CLUB, TEXAS:
Section 1. The Town Council desires to consider adoption of a tax rate
for the 2010 tax year of $0.535 per $100 valuation that will exceed the lower of
the rollback rate or the effective tax rate.
Section 2. The Town Council hereby approves the placement of an
item on the September 27, 2010 Town Council public meeting agenda, such
meeting being a regular Council meeting, to vote on a proposed tax rate of
$0.535 per $100 valuation that will exceed the lower of the rollback rate or the
effective tax rate.
Section 3. The Town Council hereby calls public hearings on the
proposed tax increase to be held in the Svore Municipal Building located at 100
Municipal Drive, Trophy Club, Texas 76262 on September 13, 2010 and
September 20, 2010 at 7:00 p.m., such dates being weekdays which are not
public holidays. The first public hearing will not be held until at least seven days
after notice of both public hearings have been published in the Times Register,, a
newspaper having general circulation within the Town, in the form of the attached
Notice of Public Hearing on Tax Increase, which is incorporated into this
Resolution as Exhibit “A” for all purposes and meeting the size requirements
specified in Texas Tax Code §26.06. The Acting Town Manager is hereby
directed to publish such notice in accordance with this Resolution and in
Resolution 2010-18
(File ID 2010-428)
1
Town Council 52 of 141 Meeting Date: September 20, 2010
accordance with Texas Tax Code §26.06. At both public hearings, the Town
Council will afford adequate opportunity for both proponents and opponents of
the tax increase to present their views.
Section 4. This Resolution shall become effective immediately upon its
passage and approval at a regular meeting of the Town Council of the Town of
Trophy Club, Texas on this the 16th day of August, 2010, at which meeting a
quorum was present and the meeting was held in accordance with the provisions
of Texas Government Code §551.001, et seq. The Town Secretary is hereby
directed to record this Resolution and the vote on the proposal to place the item
for a tax increase on the September 27, 2010 Town Council agenda.
PASSED AND APPROVED by the Town Council of the Town of Trophy
Club, Texas, this 16th day of August, 2010.
__________________________________
Connie White, Mayor
Town of Trophy Club, Texas
ATTEST:
___________________________________
Town Secretary
Town of Trophy Club, Texas
[Seal]
APPROVED AS TO FORM:
____________________________________
Town Attorney
Town of Trophy Club, Texas
Resolution 2010-18
(File ID 2010-428)
2
Town Council 53 of 141 Meeting Date: September 20, 2010
Resolution 2010-18
(File ID 2010-428)
3
EXHIBIT A
Notice of Public Hearing on Tax Increase
The Town of Trophy Club, Texas will hold two public hearings on a proposal to increase
total tax revenues from properties on the tax roll in the preceding tax year by 9.45 percent
(percentage by which proposed tax rate exceeds lower of rollback tax rate or effective tax
calculated under Chapter 26, Tax Code). Your individual taxes may increase at a greater
or lesser rate, or even decrease, depending on the change in the taxable value of your
property in relation to the change in taxable value of all other property and the tax rate
that is adopted.
The first public hearing will be held on September 13, 2010 at 7:00 p.m. at Svore
Municipal Building, 100 Municipal Drive, Trophy Club, Texas.
The second public hearing will be held on September 20, 2010 at 7:00 p.m. at Svore
Municipal Building, 100 Municipal Drive, Trophy Club, Texas.
The members of the governing body voted on the proposal to consider the tax increase
as follows:
FOR: Mayor Connie White, Mayor Pro Tem Bill Rose, Council members
Larry Hoover, Margi Cantrell
AGAINST: Council members Glenn Strothers and J.D. Stotts
PRESENT and not voting: None
ABSENT: None
The average taxable value of a residence homestead in Trophy Club, Texas last year was
$262,591. Based on last year’s tax rate of $0.47 per $100 of taxable value, the amount of
taxes imposed last year on the average home was $1,234.
The average taxable value of a residence homestead in Trophy Club, Texas this year is
$267,215. If the governing body adopts the effective tax rate for this year of $.488814
per $100 of taxable value, the amount of taxes imposed this year on the average home
would be $1,306.
If the governing body adopts the proposed tax rate of $0.535 per $100 of taxable value,
the amount of taxes imposed this year on the average home would be $1,430.
Members of the public are encouraged to attend the hearings and express their views.
Town Council 54 of 141 Meeting Date: September 20, 2010
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12010-506-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:9/14/2010 Town Council
On agenda:Final action:9/20/2010
Title:Town Council to conduct a Public Hearing on the proposed 2010-2011 Fiscal Year Budget pursuant to
Section 9.05 of the Town Charter, "Council Action on Budget".
Attachments:
Action ByDate Action ResultVer.
Town Council 55 of 141 Meeting Date: September 20, 2010
File #: 2010-506-T, Version: 1
Title
Town Council to conduct a Public Hearing on the proposed 2010-2011 Fiscal Year Budget pursuant to Section 9.05 of the
Town Charter, "Council Action on Budget".
Body
Town Charter - Section 9.05 Council Action on Budget
(b) Notice and Hearing. The Council shall review the proposed budget and revise it as deemed appropriate prior to
general circulation for public hearing. The Council shall publish the general summary of the budget and a notice stating:
(1) The times and places where copies of the message and budget are available for inspection by the public, and
(2) The time and place, not less than two weeks after such publication, for public hearing on the budget.
The Notice was published in the September 15, 2010 edition of the Times Register.
Goal #6: A vibrant, inclusive community with involved, caring residents
Provide superior customer services
Foster a well informed community
Town Council 56 of 141 Meeting Date: September 20, 2010
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12010-504-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:9/14/2010 Town Council
On agenda:Final action:9/20/2010
Title:Consider and take appropriate action regarding an Ordinance providing for the Issuance and Sale of
Town of Trophy Club, Texas, General Obligation Refunding Bonds, Series 2010; authorizing the
execution and delivery of a Bond Purchase Agreement, a Paying Agent/Registrar Agreement and an
Escrow Agreement; levying a tax in payment thereof; prescribing the form of said Bonds; approving
the Official Statement; and enacting other provisions relating thereto
Attachments:Ord. 2010-XX 2010_GO_Refunding.pdf
Action ByDate Action ResultVer.
Town Council 57 of 141 Meeting Date: September 20, 2010
File #: 2010-504-T, Version: 1
Title
Consider and take appropriate action regarding an Ordinance providing for the Issuance and Sale of Town of Trophy
Club, Texas, General Obligation Refunding Bonds, Series 2010; authorizing the execution and delivery of a Bond
Purchase Agreement, a Paying Agent/Registrar Agreement and an Escrow Agreement; levying a tax in payment thereof;
prescribing the form of said Bonds; approving the Official Statement; and enacting other provisions relating thereto
Body
The bond issuance for approximately $2,860,000of refunding bonds to be used to refund the GeneralObligation Bonds,
Series 2001 and the General Obligation Refunding Bonds, Series 2002. The refunding will result in an estimated cash
flow savings of over $213,000, with a present value of over $186,000, which is 7.84% and 6.83%, respectively of the
bonds being refunded. These savings are net of all related bond issuance costs.
Management recommends approval.
Dan Almon from Southwest Securities will be in attendance to answer Council’s questions.
Goal #2: Business-Friendly Community
Provide environment to retain/develop existing businesses
Promote new commercial opportunities
Create effective working relationships with developers and businesses
Goal # 3: Community with shared vision
Forge collaborative relationships with other governmental/public entities
Create a positive regional identity
Town Council 58 of 141 Meeting Date: September 20, 2010
TOWN OF TROPHY CLUB, TEXAS
BOND ORDINANCE NO. 2010-XX
Adopted: __________, 2010
$_________
TOWN OF TROPHY CLUB, TEXAS
GENERAL OBLIGATION REFUNDING BONDS
SERIES 2010
Dated: September 20, 2010
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Town Council 59 of 141 Meeting Date: September 20, 2010
TABLE OF CONTENTS
Page
Parties...............................................................................................................................................1
ARTICLE I
DEFINITIONS AND OTHER PRELIMINARY MATTERS
Section 1.01. Definitions................................................................................................................2
Section 1.02. Findings....................................................................................................................4
Section 1.03. Table of Contents, Titles and Headings...................................................................4
Section 1.04. Interpretation............................................................................................................4
ARTICLE II
SECURITY FOR THE BONDS; INTEREST AND SINKING FUND
Section 2.01. Tax Levy..................................................................................................................4
Section 2.02. Interest and Sinking Fund........................................................................................5
ARTICLE III
AUTHORIZATION; GENERAL TERMS AND PROVISIONS REGARDING THE BONDS
Section 3.01. Authorization...........................................................................................................5
Section 3.02. Date, Denomination, Maturities and Interest...........................................................6
Section 3.03. Medium, Method and Place of Payment..................................................................7
Section 3.04. Execution and Registration of Bonds. .....................................................................8
Section 3.05. Ownership................................................................................................................9
Section 3.06. Registration, Transfer and Exchange.......................................................................9
Section 3.07. Cancellation...........................................................................................................10
Section 3.08. Temporary Bonds...................................................................................................10
Section 3.09. Replacement Bonds. ..............................................................................................11
Section 3.10. Book Entry Only System.......................................................................................12
Section 3.11. Successor Securities Depository; Transfer Outside Book Entry Only System......12
Section 3.12. Payments to Cede & Co.........................................................................................13
ARTICLE IV
REDEMPTION OF BONDS BEFORE MATURITY
Section 4.01. Limitation on Redemption.....................................................................................13
Section 4.02. Optional Redemption.............................................................................................13
Section 4.03. Partial Redemption.................................................................................................13
Section 4.04. Notice of Redemption to Owners. .........................................................................14
Section 4.05. Payment Upon Redemption...................................................................................14
(i)
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Town Council 60 of 141 Meeting Date: September 20, 2010
Section 4.06. Effect of Redemption.............................................................................................14
Section 4.07. Conditional Notice of Redemption........................................................................15
Section 4.08. Lapse of Payment...................................................................................................15
ARTICLE V
PAYING AGENT/REGISTRAR
Section 5.01. Appointment of Initial Paying Agent/Registrar.....................................................15
Section 5.02. Qualifications.........................................................................................................15
Section 5.03. Maintaining Paying Agent/Registrar.....................................................................16
Section 5.04. Termination............................................................................................................16
Section 5.05. Notice of Change to Owners..................................................................................16
Section 5.06. Agreement to Perform Duties and Functions.........................................................16
Section 5.07. Delivery of Records to Successor..........................................................................16
ARTICLE VI
FORM OF THE BONDS
Section 6.01. Form Generally......................................................................................................16
Section 6.02. Form of the Bonds. ................................................................................................17
Section 6.03. CUSIP Registration................................................................................................23
Section 6.04. Legal Opinion........................................................................................................23
Section 6.05. Statement of Insurance...........................................................................................23
ARTICLE VII
SALE AND DELIVERY OF BONDS, DEPOSIT OF PROCEEDS
Section 7.01. Sale of Bonds, Official Statement..........................................................................23
Section 7.02. Control and Delivery of Bonds..............................................................................24
Section 7.03. Deposit of Proceeds...............................................................................................25
ARTICLE VIII
INVESTMENTS
Section 8.01. Investments............................................................................................................25
Section 8.02. Investment Income.................................................................................................25
ARTICLE IX
PARTICULAR REPRESENTATIONS AND COVENANTS
Section 9.01. Payment of the Bonds............................................................................................25
Section 9.02. Other Representations and Covenants...................................................................26
Section 9.03. Provisions Concerning Federal Income Tax Exclusion.........................................26
(ii)
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(iii)
US 541919v.1
Section 9.04. No Private Use or Payment and No Private Loan Financing.................................26
Section 9.05. No Federal Guaranty..............................................................................................27
Section 9.06. Bonds are not Hedge Bonds...................................................................................27
Section 9.07. No Arbitrage Covenant..........................................................................................27
Section 9.08. Arbitrage Rebate....................................................................................................27
Section 9.09. Qualified Tax-Exempt Obligations........................................................................28
Section 9.10. Information Reporting. ..........................................................................................28
Section 9.11. Continuing Obligation. ..........................................................................................28
ARTICLE X
DEFAULT AND REMEDIES
Section 10.01. Events of Default...................................................................................................28
Section 10.02. Remedies for Default.............................................................................................29
Section 10.03. Remedies Not Exclusive........................................................................................29
ARTICLE XI
DISCHARGE
Section 11.01. Discharge...............................................................................................................29
ARTICLE XII
REFUNDED BONDS
Section 12.01. Payment of Paying Agency....................................................................................29
Section 12.02. Escrow Agreement.................................................................................................30
Section 12.03. Redemption of Refunded Bonds............................................................................30
Section 12.04. Purchase of Federal Securities...............................................................................30
Section 12.05. Notice of Deposit and Redemption........................................................................30
ARTICLE XIII
CONTINUING DISCLOSURE UNDERTAKING
Section 13.01. Annual Reports......................................................................................................30
Section 13.02. Material Event Notices. .........................................................................................31
Section 13.03. Limitations, Disclaimers and Amendments...........................................................32
Town Council 62 of 141 Meeting Date: September 20, 2010
TOWN OF TROPHY CLUB, TEXAS
BOND ORDINANCE NO. 2010-XX
AN ORDINANCE PROVIDING FOR THE ISSUANCE AND
SALE OF TOWN OF TROPHY CLUB, TEXAS, GENERAL
OBLIGATION REFUNDING BONDS, SERIES 2010, IN THE
AGGREGATE PRINCIPAL AMOUNT OF $__________;
AUTHORIZING THE EXECUTION AND DELIVERY OF A
BOND PURCHASE AGREEMENT, A PAYING
AGENT/REGISTRAR AGREEMENT AND AN ESCROW
AGREEMENT; LEVYING A TAX IN PAYMENT
THEREOF; PRESCRIBING THE FORM OF SAID BONDS;
APPROVING THE OFFICIAL STATEMENT; AND
ENACTING OTHER PROVISIONS RELATING THERETO
_____________________
WHEREAS, there are presently outstanding certain obligations of the Town of Trophy
Club, Texas (the “Town”), described on Schedule I attached hereto and incorporated herein by
reference for all purposes (collectively, the “Refunded Bonds”), which are secured by and
payable from ad valorem taxes levied on property within the Town in an amount sufficient to pay
principal of and interest on such bonds as they become due within the limits prescribed by law;
and
WHEREAS, Chapter 1207, Texas Government Code, as amended (“Chapter 1207”)
further authorizes the Town to enter into an escrow agreement with any commercial bank with
respect to the safekeeping, investment, reinvestment, administration and disposition of any such
deposit, upon such terms and conditions as the Town and such bank may agree, provided that
such deposits may be invested and reinvested only in direct obligations of the United States of
America, including obligations the principal of and interest on which are unconditionally
guaranteed by the United States of America, and which shall mature and bear interest payable at
such times and in such amounts as will be sufficient to provide for the scheduled payment or
prepayment of the Refunded Bonds; and
WHEREAS, The Bank of New York Mellon Trust Company, National Association, is a
commercial bank which does not act as depository for the Town and the Escrow Agreement
hereinafter authorized constitutes an escrow agreement of the kind authorized by said Chapter
1207; and
WHEREAS, the Town Council of the Town hereby finds and determines that the
issuance and delivery of the refunding bonds hereinafter authorized is in the public interest and
the use of the proceeds in the manner herein specified constitutes a valid public purpose; and
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Town Council 63 of 141 Meeting Date: September 20, 2010
WHEREAS, the Town Council hereby finds and determines that the refunding
contemplated in this Ordinance will benefit the Town by providing a present value savings of
debt service payable by the Town in the amount of $_______, and that such benefit is sufficient
consideration for the refunding of the Refunded Bonds; and
WHEREAS, the Town Council considers it in the best interest of the Town at this time
authorize by this Ordinance the issuance and delivery of the amounts this reflects, all in a single
issue or all in accordance with and pursuant to the authority granted in Tex. Const. art. XI, Sec. 5
and Chapter 1207 Texas Government Code, as amended and Section 9.14 of the Charter of the
Town; and
WHEREAS, the meeting at which this Ordinance is considered is open to the public as
required by law, and the public notice of the time, place and purpose of said meeting was given
as required by Chapter 551, Texas Government Code, as amended;
THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN
OF TROPHY CLUB, TEXAS:
ARTICLE I
DEFINITIONS AND OTHER PRELIMINARY MATTERS
Section 1.01. Definitions.
Unless otherwise expressly provided or unless the context clearly requires otherwise in
this Ordinance, the following terms shall have the meanings specified below:
“Bond” means any of the Bonds.
“Bond Date” means the date designated as the date of the Bonds by Section 3.02(a) of
this Ordinance.
“Bonds” means the Town’s bonds authorized to be issued by Section 3.01 of this
Ordinance and designated as “Town of Trophy Club Texas, General Obligation Refunding
Bonds, Series 2010.”
“Business Day” means any day other than a Saturday, Sunday or legal holiday or other
day on which banking institutions in the State of Texas are generally authorized or obligated by
law or executive order to close.
“Closing Date” means the date of the initial delivery of and payment for the Bonds.
“Code” means the Internal Revenue Code of 1986, as amended, including applicable
regulations, published rulings and court decisions.
“Designated Payment/Transfer Office” means (i) with respect to the initial Paying
Agent/Registrar named herein, its office in Dallas, Texas, or at such other location designated by
the Paying Agent/Registrar and (ii) with respect to any successor Paying Agent/Registrar, the
- 2 -
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Town Council 64 of 141 Meeting Date: September 20, 2010
office of such successor designated and located as may be agreed upon by the Town and such
successor.
“DTC” shall mean The Depository Trust Company of New York, New York, or any
successor securities depository.
“DTC Participant” shall mean brokers and dealers, banks, trust companies, clearing
corporations and certain other organizations on whose behalf DTC was created to hold securities
to facilitate the clearance and settlement of securities transactions among DTC Participants.
“EMMA” shall mean the Electronic Municipal Market Access System”
“Escrow Agent” means The Bank of New York Mellon Trust Company, National
Association, Dallas, Texas.
“Escrow Agreement” means the escrow agreement between the City and the Escrow
Agent.
“Escrow Fund” means the fund by that name established in the Escrow Agreement.
“Event of Default” means any event of default as defined in Section 10.01 of this
Ordinance.
“Initial Bond” means the Initial Bond authorized by Section 3.04 of this Ordinance.
“Interest and Sinking Fund” means the interest and sinking fund established by
Section 2.01 of this Ordinance.
“Interest Payment Date” means the date or dates on which interest on the Bonds is
scheduled to be paid until their respective dates of maturity or prior redemption, such dates being
March 1 and September 1, commencing March 1, 2011.
“Letter of Representations” means the Blanket Letter of Representations between the
Town and DTC.
“MSRB” means the Municipal Securities Rulemaking Board.
“Owner” means the person who is the registered owner of a Bond or Bonds, as shown in
the Register.
“Paying Agent/Registrar” means initially The Bank of New York Mellon Trust
Company, N.A., Dallas, Texas, or any successor thereto as provided in this Ordinance.
“Record Date” means the last Business Day of the month next preceding an Interest
Payment Date.
“Register” means the bond register specified in Section 3.06(a) of this Ordinance.
“Rule” means SEC Rule 15c2 12, as amended from time to time.
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“SEC” means the United States Securities and Exchange Commission.
“Special Record Date” means the Special Record Date prescribed by Section 3.03(b).
Section 1.02. Findings.
The declarations, determinations and findings declared, made and found in the preamble
to this Ordinance are hereby adopted, restated and made a part of the operative provisions hereof.
Section 1.03. Table of Contents, Titles and Headings.
The table of contents, titles and headings of the Articles and Sections of this Ordinance
have been inserted for convenience of reference only and are not to be considered a part hereof
and shall not in any way modify or restrict any of the terms or provisions hereof and shall never
be considered or given any effect in construing this Ordinance or any provision hereof or in
ascertaining intent, if any question of intent should arise.
Section 1.04. Interpretation.
(a) Unless the context requires otherwise, words of the masculine gender shall be
construed to include correlative words of the feminine and neuter genders and vice versa, and
words of the singular number shall be construed to include correlative words of the plural
number and vice versa.
(b) Any action required to be taken on a date which is not a Business Day shall be
done on the next succeeding Business Day and have the same effect as if done on the date so
required.
(c) This Ordinance and all the terms and provisions hereof shall be liberally
construed to effectuate the purposes set forth herein and to sustain the validity of this Ordinance.
ARTICLE II
SECURITY FOR THE BONDS; INTEREST AND SINKING FUND
Section 2.01. Tax Levy.
(a) Pursuant to the authority granted by the Texas Constitution and the laws of the
State of Texas, there shall be levied and there is hereby levied for the current year and for each
succeeding year hereafter while any of the Bonds or any interest thereon is outstanding and
unpaid, an ad valorem tax on each one hundred dollars’ valuation of taxable property within the
Town, at a rate sufficient, within the limits prescribed by law, to pay the debt service
requirements of the Bonds, being (i) the interest on the Bonds, and (ii) a sinking fund for their
redemption at maturity or a sinking fund of 2% per annum (whichever amount is greater), when
due and payable, full allowance being made for delinquencies and costs of collection.
(b) The ad valorem tax thus levied shall be assessed and collected each year against
all property appearing on the tax rolls of the Town most recently approved in accordance with
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(c) Said ad valorem tax, the collections therefrom, and all amounts on deposit in or
required hereby to be deposited to the Interest and Sinking Fund are hereby pledged and
committed irrevocably to the payment of the principal of and interest on the Bonds when and as
due and payable in accordance with their terms and this Ordinance.
(d) To the extent the Town has available funds which may be lawfully used to pay
debt service on the Bonds and such funds are on deposit in the Interest and Sinking Fund in
advance of the time when the Town Council of the Town is scheduled to set a tax rate for any
year, then such tax rate which would otherwise be required to be established pursuant to
subsection (a) of this Section may be reduced to the extent and by the amount of such funds in
the Interest and Sinking Fund.
(e) If the lien and provisions of this Ordinance shall be released in a manner
permitted by Article XI hereof, then the collection of such ad valorem tax may be suspended or
appropriately reduced, as the facts may permit, and further deposits to the Interest and Sinking
Fund may be suspended or appropriately reduced, as the facts may permit. In determining the
aggregate principal amount of outstanding Bonds, there shall be subtracted the amount of any
Bonds that have been duly called for redemption and for which money has been deposited with
the Paying Agent/Registrar for such redemption.
Section 2.02. Interest and Sinking Fund.
(a) The Town hereby establishes a special fund or account, to be designated the
“Town of Trophy Club, Texas General Obligation Refunding Bonds, Series 2010, Interest and
Sinking Fund,” said fund or account to be maintained at an official depository bank of the Town
separate and apart from all other funds and accounts of the Town.
(b) Money on deposit or required by this Ordinance to be deposited to the Interest and
Sinking Fund shall be used solely for the purpose of paying the interest on and principal of the
Bonds when and as due and payable in accordance with their terms and this Ordinance.
ARTICLE III
AUTHORIZATION; GENERAL TERMS AND PROVISIONS
REGARDING THE BONDS
Section 3.01. Authorization.
The Town’s bonds to be designated “Town of Trophy Club, Texas, General Obligation
Refunding Bonds, Series 2010,” are hereby authorized to be issued and delivered in accordance
with Tex. Const. art. XI, Sec. 5 and Chapter 1207, Texas Government Code, as amended,
Section 9.14 of the Charter of the Town. The Bonds shall be issued in the aggregate principal
amount of $__________, for the purpose of providing funds to refund the Refunded Bonds and
to pay the cost of issuing the Bonds.
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Section 3.02. Date, Denomination, Maturities and Interest.
(a) The Bonds shall be dated October 1, 2010. The Bonds shall be in fully registered
form, without coupons, in the denomination of $5,000 or any integral multiple thereof, and shall
be numbered separately from one upward or such other designation acceptable to the Town and
the Paying Agent/Registrar, except the Initial Bond, which shall be numbered T 1.
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(b) The Bonds shall mature on September 1 in the years and in the principal amounts
set forth in the following schedule:
Years Principal Amount Interest Rates Years Principal Amount Interest Rates
2011 2021
2012 2022
2013 2023
2014 2024
2015 2025
2016 2026
2017 2027
2018 2028
2019 2029
2020 2030
(c) Interest shall accrue and be paid on each Bond respectively until its maturity or
prior redemption, from the later of the Bond Date or the most recent Interest Payment Date to
which interest has been paid or provided for at the rates per annum for each respective maturity
specified in the schedule contained in subsection (b) above. Such interest shall be payable
semiannually commencing on March 1, 2011, and on each March 1 and September 1 thereafter
until the earlier of maturity or prior redemption. Interest on the Bonds shall be calculated on the
basis of a 360 day year composed of 12 months of 30 days each.
Section 3.03. Medium, Method and Place of Payment.
(a) The principal of, premium, if any, and interest on the Bonds shall be paid in
lawful money of the United States of America.
(b) Interest on the Bonds shall be payable to the Owners as shown in the Register at
the close of business on the Record Date; provided, however, in the event of nonpayment of
interest on a scheduled Interest Payment Date and for 30 days thereafter, a new record date for
such interest payment (a “Special Record Date”) shall be established by the Paying
Agent/Registrar, if and when funds for the payment of such interest have been received from the
Town. Notice of the Special Record Date and of the scheduled payment date of the past due
interest (the “Special Payment Date,” which shall be 15 days after the Special Record Date) shall
be sent at least five Business Days prior to the Special Record Date by United States mail, first
class, postage prepaid, to the address of each Owner of a Bond appearing on the Register at the
close of business on the last Business Day next preceding the date of mailing of such notice.
(c) Interest shall be paid by check, dated as of and mailed on the Interest Payment
Date, and sent by the Paying Agent/Registrar to each Owner, first class United States mail,
postage prepaid, to the address of each Owner as it appears in the Register, or by such other
customary banking arrangement acceptable to the Paying Agent/Registrar and the Owner;
provided, however, the Owner shall bear all risk and expense of such other banking arrangement.
At the option of an Owner of at least $1,000,000 principal amount of the Bonds, interest may be
paid by wire transfer to the bank account of such Owner on file with the Paying Agent/Registrar.
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(d) The principal of each Bond shall be paid to the Owner thereof on the due date
(whether at the maturity date or the date of prior redemption thereof) upon presentation and
surrender of such Bond at the Designated Payment/Transfer Office of the Paying
Agent/Registrar.
(e) If the date for the payment of the principal of or interest on the Bonds shall be a
Saturday, Sunday, legal holiday, or day on which banking institutions in the Town where the
Designated Payment/Transfer Office is located are required or authorized by law or executive
order to close, the date for such payment shall be the next succeeding day which is not a
Saturday, Sunday, legal holiday, or day on which banking institutions are required or authorized
to close, and payment on such date shall have the same force and effect as if made on the original
date payment was due and no additional interest shall be due by reason of nonpayment on the
date on which such payment is otherwise stated to be due and payable.
(f) Unclaimed payments of amounts due hereunder shall be segregated in a special
account and held in trust, uninvested by the Paying Agent/Registrar, for the account of the
Owner of the Bonds to which such unclaimed payments pertain. Subject to Title 6 of the Texas
Property Code, any unclaimed payments remaining unclaimed by the Owners entitled thereto for
three years after the applicable payment or redemption date shall be applied to the next payment
or payments on the Bonds thereafter coming due and, to the extent any such money remains after
the retirement of all outstanding Bonds, shall be paid to the Town to be used for any lawful
purpose. Thereafter, neither the Town, the Paying Agent/Registrar nor any other person shall be
liable or responsible to any holders of such Bonds for any further payment of such unclaimed
moneys or on account of any such Bonds, subject to Title 6 of the Texas Property Code.
Section 3.04. Execution and Registration of Bonds.
(a) The Bonds, including the Initial Bond, shall be executed on behalf of the Town by
the Mayor and the Town Secretary, by their manual or facsimile signatures, and the official seal
of the Town shall be impressed or placed in facsimile thereon. Such facsimile signatures on the
Bonds shall have the same effect as if each of the Bonds had been signed manually and in person
by each of said officers, and such facsimile seal on the Bonds shall have the same effect as if the
official seal of the Town had been manually impressed upon each of the Bonds.
(b) In the event that any officer of the Town whose manual or facsimile signature
appears on the Bonds ceases to be such officer before the authentication of such Bonds or before
the delivery thereof, such manual or facsimile signature nevertheless shall be valid and sufficient
for all purposes as if such officer had remained in such office.
(c) Except as provided below, no Bond shall be valid or obligatory for any purpose or
be entitled to any security or benefit of this Ordinance unless and until there appears thereon the
Certificate of Paying Agent/Registrar substantially in the form provided herein, duly
authenticated by manual execution by an officer or duly authorized signatory of the Paying
Agent/Registrar. It shall not be required that the same officer or authorized signatory of the
Paying Agent/Registrar sign the Certificate of Paying Agent/Registrar on all of the Bonds. In
lieu of the executed Certificate of Paying Agent/Registrar described above, the Initial Bond
delivered at the Closing Date shall have attached thereto the Comptroller’s Registration
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(d) On the Closing Date, one Initial Bond representing the entire principal amount of
all Bonds, payable in stated installments to the initial purchaser, or its designee, signed by the
Mayor and Town Secretary of the Town, approved by the Attorney General, and registered and
manually signed by the Comptroller of Public Accounts, will be delivered to the initial purchaser
or its designee. Upon payment for the Initial Bond, the Paying Agent/Registrar shall cancel the
Initial Bond and deliver to DTC on behalf of the Purchaser one registered definitive Bond for
each year of maturity of the Bonds in the aggregate principal amount of all Bonds for such
maturity, registered in the name of Cede & Co., as nominee of DTC.
Section 3.05. Ownership.
(a) The Town, the Paying Agent/Registrar and any other person may treat the person
in whose name any Bond is registered as the absolute owner of such Bond for the purpose of
making and receiving payment of the principal thereof and redemption premium, if any, thereon,
for the further purpose of making and receiving payment of the interest thereon, and for all other
purposes (except interest will be paid to the person in whose name such bond is registered on the
Record Date or Special Record Date, as applicable), whether or not such Bond is overdue, and
neither the Town nor the Paying Agent/Registrar shall be bound by any notice or knowledge to
the contrary.
(b) All payments made to the Owner of a Bond shall be valid and effectual and shall
discharge the liability of the Town and the Paying Agent/Registrar upon such Bond to the extent
of the sums paid.
Section 3.06. Registration, Transfer and Exchange.
(a) So long as any Bonds remain outstanding, the Town shall cause the Paying
Agent/Registrar to keep at the Designated Payment/Transfer Office a register (the “Register”) in
which, subject to such reasonable regulations as it may prescribe, the Paying Agent/Registrar
shall provide for the registration and transfer of Bonds in accordance with this Ordinance.
(b) The ownership of a Bond may be transferred only upon the presentation and
surrender of the Bond at the Designated Payment/Transfer Office with such endorsement or
other evidence of transfer as is acceptable to the Paying Agent/Registrar. No transfer of any
Bond shall be effective until entered in the Register.
(c) The Bonds shall be exchangeable upon the presentation and surrender thereof at
the Designated Payment/Transfer Office for a Bond or Bonds of the same maturity and interest
rate and in any denomination or denominations of any integral multiple of $5,000 and in an
aggregate principal amount equal to the unpaid principal amount of the Bonds presented for
exchange. The Paying Agent/Registrar is hereby authorized to authenticate and deliver Bonds
exchanged for other Bonds in accordance with this Section.
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(d) Each exchange Bond delivered by the Paying Agent/Registrar in accordance with
this Section shall constitute an original contractual obligation of the Town and shall be entitled to
the benefits and security of this Ordinance to the same extent as the Bond or Bonds in lieu of
which such exchange Bond is delivered.
(e) No service charge shall be made to the Owner for the initial registration,
subsequent transfer, or exchange for a different denomination of any of the Bonds. The Paying
Agent/Registrar, however, may require the Owner to pay a sum sufficient to cover any tax or
other governmental charge that is authorized to be imposed in connection with the registration,
transfer or exchange of a Bond.
(f) Neither the Town nor the Paying Agent/Registrar shall be required to issue,
transfer, or exchange any Bond called for redemption, in whole or in part, within 45 calendar
days prior to the date fixed for redemption; provided, however, such limitation shall not be
applicable to an exchange by the Owner of the uncalled principal balance of a Bond.
Section 3.07. Cancellation.
All Bonds paid or redeemed before scheduled maturity in accordance with this
Ordinance, and all Bonds in lieu of which exchange Bonds or replacement Bonds are
authenticated and delivered in accordance with this Ordinance, shall be cancelled and proper
records shall be made regarding such payment, redemption, exchange or replacement. The
Paying Agent/Registrar shall dispose of cancelled Bonds in accordance with the Securities
Exchange Act of 1934.
Section 3.08. Temporary Bonds.
(a) Following the delivery and registration of the Initial Bond and pending the
preparation of definitive Bonds, the proper officers of the Town may execute and, upon the
Town’s request, the Paying Agent/Registrar shall authenticate and deliver, one or more
temporary Bonds that are printed, lithographed, typewritten, mimeographed or otherwise
produced, in any denomination, substantially of the tenor of the definitive Bonds in lieu of which
they are delivered, without coupons, and with such appropriate insertions, omissions,
substitutions and other variations as the officers of the Town executing such temporary Bonds
may determine, as evidenced by their signing of such temporary Bonds.
(b) Until exchanged for Bonds in definitive form, such Bonds in temporary form shall
be entitled to the benefit and security of this Ordinance.
(c) The Town, without unreasonable delay, shall prepare, execute and deliver to the
Paying Agent/Registrar the Bonds in definitive form; thereupon, upon the presentation and
surrender of the Bonds in temporary form to the Paying Agent/Registrar, the Paying
Agent/Registrar shall cancel the Bonds in temporary form and shall authenticate and deliver in
exchange therefor Bonds of the same maturity and series, in definitive form, in the authorized
denomination, and in the same aggregate principal amount, as the Bonds in temporary form
surrendered. Such exchange shall be made without the making of any charge therefor to any
Owner.
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Section 3.09. Replacement Bonds.
(a) Upon the presentation and surrender to the Paying Agent/Registrar of a mutilated
Bond, the Paying Agent/Registrar shall authenticate and deliver in exchange therefor a
replacement Bond of like tenor and principal amount, bearing a number not contemporaneously
outstanding. The Town or the Paying Agent/Registrar may require the Owner of such Bond to
pay a sum sufficient to cover any tax or other governmental charge that is authorized to be
imposed in connection therewith and any other expenses connected therewith.
(b) In the event that any Bond is lost, apparently destroyed or wrongfully taken, the
Paying Agent/Registrar, pursuant to the applicable laws of the State of Texas and in the absence
of notice or knowledge that such Bond has been acquired by a bona fide purchaser, shall
authenticate and deliver a replacement Bond of like tenor and principal amount, bearing a
number not contemporaneously outstanding, provided that the Owner first:
(i) furnishes to the Paying Agent/Registrar satisfactory evidence of his or her
ownership of and the circumstances of the loss, destruction or theft of such Bond;
(ii) furnishes such security or indemnity as may be required by the Paying
Agent/Registrar, and acceptable to the Town, to save it and the Town harmless;
(iii) pays all expenses and charges in connection therewith, including, but not
limited to, printing costs, legal fees, fees of the Paying Agent/Registrar and any tax or
other governmental charge that is authorized to be imposed; and
(iv) satisfies any other reasonable requirements imposed by the Town and the
Paying Agent/Registrar.
(c) If, after the delivery of such replacement Bond, a bona fide purchaser of the
original Bond in lieu of which such replacement Bond was issued presents for payment such
original Bond, the Town and the Paying Agent/Registrar shall be entitled to recover such
replacement Bond from the person to whom it was delivered or any person taking therefrom,
except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity
provided therefor to the extent of any loss, damage, cost or expense incurred by the Town or the
Paying Agent/Registrar in connection therewith.
(d) In the event that any such mutilated, lost, apparently destroyed or wrongfully
taken Bond has become or is about to become due and payable, the Paying Agent/Registrar, in its
discretion, instead of issuing a replacement Bond, may pay such Bond if it has become due and
payable or may pay such Bond when it becomes due and payable.
(e) Each replacement Bond delivered in accordance with this Section shall constitute
an original additional contractual obligation of the Town and shall be entitled to the benefits and
security of this Ordinance to the same extent as the Bond or Bonds in lieu of which such
replacement Bond is delivered.
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Section 3.10. Book Entry Only System.
(a) The definitive Bonds shall be initially issued in the form of a separate typewritten
fully registered Bond for each of the maturities thereof. Upon initial issuance, the ownership of
such Bonds shall be registered in the name of Cede & Co., as nominee of DTC, and except as
provided in Section 3.11 hereof, all of the outstanding Bonds shall be registered in the name of
Cede & Co., as nominee of DTC.
(b) With respect to Bonds registered in the name of Cede & Co., as nominee of DTC,
the Town and the Paying Agent/Registrar shall have no responsibility or obligation to any DTC
Participant or to any person on behalf of whom such a DTC Participant holds an interest in the
Bonds. Without limiting the immediately preceding sentence, the Town and the Paying
Agent/Registrar shall have no responsibility or obligation with respect to (i) the accuracy of the
records of DTC, Cede & Co. or any DTC Participant with respect to any ownership interest in
the Bonds, (ii) the delivery to any DTC Participant or any other person, other than a Bondholder,
as shown on the Register, of any notice with respect to the Bonds, including any notice of
redemption, or (iii) the payment to any DTC Participant or any other person, other than a
Bondholder, as shown in the Register of any amount with respect to principal of, premium, if
any, or interest on the Bonds. Notwithstanding any other provision of this Ordinance to the
contrary, the Town and the Paying Agent/Registrar shall be entitled to treat and consider the
person in whose name each Bond is registered in the Register as the absolute owner of such
Bond for the purpose of payment of principal of, premium, if any, and interest on the Bonds, for
the purpose of all matters with respect to such Bond, for the purpose of registering transfer with
respect to such Bond, and for all other purposes whatsoever. The Paying Agent/Registrar shall
pay all principal of, premium, if any, and interest on the Bonds only to or upon the order of the
respective owners, as shown in the Register as provided in this Ordinance, or their respective
attorneys duly authorized in writing, and all such payments shall be valid and effective to fully
satisfy and discharge the Town’s obligations with respect to payment of, premium, if any, and
interest on the Bonds to the extent of the sum or sums so paid. No person other than an owner,
as shown in the Register, shall receive a Bond certificate evidencing the obligation of the Town
to make payments of amounts due pursuant to this Ordinance. Upon delivery by DTC to the
Paying Agent/Registrar of written notice to the effect that DTC has determined to substitute a
new nominee in place of Cede & Co., the word “Cede & Co.” in this Ordinance shall refer to
such new nominee of DTC.
(c) The Letter of Representations previously executed and delivered by the Town,
and applicable to the Town’s obligations delivered in book-entry only form to DTC as securities
depository is hereby ratified and approved for the Bonds.
Section 3.11. Successor Securities Depository; Transfer Outside Book Entry Only
System.
In the event that the Town or the Paying Agent/Registrar determines that DTC is
incapable of discharging its responsibilities described herein and in the Letter of Representations,
and that it is in the best interest of the beneficial owners of the Bonds that they be able to obtain
certificated Bonds, or in the event DTC discontinues the services described herein, the Town or
the Paying Agent/Registrar shall (i) appoint a successor securities depository, qualified to act as
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such under Section 17(a) of the Securities and Exchange Act of 1934, as amended, notify DTC
and DTC Participants of the appointment of such successor securities depository and transfer one
or more separate Bonds to such successor securities depository or (ii) notify DTC and DTC
Participants of the availability through DTC of Bonds and transfer one or more separate Bonds to
DTC Participants having Bonds credited to their DTC accounts. In such event, the Bonds shall
no longer be restricted to being registered in the Register in the name of Cede & Co., as nominee
of DTC, but may be registered in the name of the successor securities depository, or its nominee,
or in whatever name or names Owners transferring or exchanging Bonds shall designate, in
accordance with the provisions of this Ordinance.
Section 3.12. Payments to Cede & Co.
Notwithstanding any other provision of this Ordinance to the contrary, so long as any
Bonds are registered in the name of Cede & Co., as nominee of DTC, all payments with respect
to principal of, premium, if any, and interest on such Bonds, and all notices with respect to such
Bonds, shall be made and given, respectively, in the manner provided in the Letter of
Representations.
ARTICLE IV
REDEMPTION OF BONDS BEFORE MATURITY
Section 4.01. Limitation on Redemption.
The Bonds shall be subject to redemption before scheduled maturity only as provided in
this Article IV.
Section 4.02. Optional Redemption.
(a) The Town reserves the option to redeem Bonds maturing on and after
September 1, 2021 in whole or any part, in principal amounts of $5,000 or any integral multiple
thereof before their respective scheduled maturity dates, on September 1, 2020, or on any date
thereafter, such redemption date or dates to be fixed by the Town, at a price equal to the principal
amount of the Bonds called for redemption plus accrued interest to the date fixed for redemption.
(b) If less than all of the Bonds are to be redeemed pursuant to an optional
redemption, the Town shall determine the maturity or maturities and the amounts thereof to be
redeemed and shall direct the Paying Agent/Registrar to call by lot the Bonds, or portions
thereof, within such maturity or maturities and in such principal amounts for redemption.
(c) The Town, at least 45 days before the redemption date, unless a shorter period
shall be satisfactory to the Paying Agent/Registrar, shall notify the Paying Agent/Registrar of
such redemption date and of the principal amount of Bonds to be redeemed.
Section 4.03. Partial Redemption.
(a) A portion of a single Bond of a denomination greater than $5,000 may be
redeemed, but only in a principal amount equal to $5,000 or any integral multiple thereof. If
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(b) Upon surrender of any Bond for redemption in part, the Paying Agent/Registrar,
in accordance with Section 3.06 of this Ordinance, shall authenticate and deliver an exchange
Bond or Bonds in an aggregate principal amount equal to the unredeemed portion of the Bond so
surrendered, such exchange being without charge.
(c) The Paying Agent/Registrar shall promptly notify the Town in writing of the
principal amount to be redeemed of any Bond as to which only a portion thereof is to be
redeemed.
Section 4.04. Notice of Redemption to Owners.
(a) The Paying Agent/Registrar shall give notice of any redemption of Bonds by
sending notice by first class United States mail, postage prepaid, not less than 30 days before the
date fixed for redemption, to the Owner of each Bond (or part thereof) to be redeemed, at the
address shown on the Register at the close of business on the business day next preceding the
date of mailing such notice.
(b) The notice shall state the redemption date, the redemption price, the place at
which the Bonds are to be surrendered for payment, and, if less than all the Bonds outstanding
are to be redeemed, an identification of the Bonds or portions thereof to be redeemed.
(c) Any notice given as provided in this Section shall be conclusively presumed to
have been duly given, whether or not the Owner receives such notice.
Section 4.05. Payment Upon Redemption.
(a) Before or on each redemption date, the Town shall deposit with the Paying
Agent/Registrar money sufficient to pay all amounts due on the redemption date and the Paying
Agent/Registrar shall make provision for the payment of the Bonds to be redeemed on such date
by setting aside and holding in trust such amounts as are received by the Paying Agent/Registrar
from the Town and shall use such funds solely for the purpose of paying the principal of,
redemption premium, if any, and accrued interest on the Bonds being redeemed.
(b) Upon presentation and surrender of any Bond called for redemption at the
Designated Payment/Transfer Office on or after the date fixed for redemption, the Paying
Agent/Registrar shall pay the principal of, redemption premium, if any, and accrued interest on
such Bond to the date of redemption from the money set aside for such purpose.
Section 4.06. Effect of Redemption.
(a) Notice of redemption having been given as provided in Section 4.04 of this
Ordinance, the Bonds or portions thereof called for redemption shall become due and payable on
the date fixed for redemption and, unless the Town defaults in its obligation to make provision
for the payment of the principal thereof, redemption premium, if any, or accrued interest thereon,
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(b) If the Town shall fail to make provision for payment of all sums due on a
redemption date, then any Bond or portion thereof called for redemption shall continue to bear
interest at the rate stated on the Bond until due provision is made for the payment of same by the
Town.
Section 4.07. Conditional Notice of Redemption.
(a) The Town reserves the right, in the case of an optional redemption pursuant to
Section 4.02 herein, to give notice of its election or direction to redeem Bonds conditioned upon
the occurrence of subsequent events. Such notice may state (i) that the redemption is
conditioned upon the deposit of moneys and/or authorized securities, in an amount equal to the
amount necessary to effect the redemption, with the Paying Agent/Registrar, or such other entity
as may be authorized by law, no later than the redemption date, or (ii) that the Town retains the
right to rescind such notice at any time on or prior to the scheduled redemption date if the Town
delivers a certificate of the Town to the Paying Agent/Registrar instructing the Paying
Agent/Registrar to rescind the redemption notice and such notice and redemption shall be of no
effect if such moneys and/or authorized securities are not so deposited or if the notice is
rescinded. The Paying Agent/Registrar shall give prompt notice of any such rescission of a
conditional notice of redemption to the affected Owners. Any Bonds subject to conditional
redemption and such redemption has been rescinded shall remain Outstanding and the rescission
of such redemption shall not constitute an Event of Default. Further, in the case of a conditional
redemption, the failure of the Town to make moneys and or authorized securities available in
part or in whole on or before the redemption date shall not constitute an Event of Default.
Section 4.08. Lapse of Payment.
Money set aside for the redemption of Bonds and remaining unclaimed by the Owners of
such Bonds shall be subject to the provisions of Section 3.03(f) hereof.
ARTICLE V
PAYING AGENT/REGISTRAR
Section 5.01. Appointment of Initial Paying Agent/Registrar.
The Bank of New York Mellon Trust Company, N.A. is hereby appointed as the initial
Paying Agent/Registrar for the Bonds.
Section 5.02. Qualifications.
Each Paying Agent/Registrar shall be a commercial bank, a trust company organized
under the laws of the State of Texas, or any other entity duly qualified and legally authorized to
serve as and perform the duties and services of paying agent and registrar for the Bonds.
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Section 5.03. Maintaining Paying Agent/Registrar.
(a) At all times while any Bonds are outstanding, the Town will maintain a Paying
Agent/Registrar that is qualified under Section 5.02 of this Ordinance. The Mayor is hereby
authorized and directed to execute, and the Town Secretary to attest, an agreement (the “Paying
Agent/Registrar Agreement”), in the form presented at this meeting, with the Paying
Agent/Registrar specifying the duties and responsibilities of the Town and the Paying
Agent/Registrar.
(b) If the Paying Agent/Registrar resigns or otherwise ceases to serve as such, the
Town will promptly appoint a replacement.
Section 5.04. Termination.
The Town, upon not less than 60 days notice, reserves the right to terminate the
appointment of any Paying Agent/Registrar by delivering to the entity whose appointment is to
be terminated written notice of such termination.
Section 5.05. Notice of Change to Owners.
Promptly upon each change in the entity serving as Paying Agent/Registrar, the Town
will cause notice of the change to be sent to each Owner by first class United States mail,
postage prepaid, at the address in the Register, stating the effective date of the change and the
name and mailing address of the replacement Paying Agent/Registrar.
Section 5.06. Agreement to Perform Duties and Functions.
By accepting the appointment as Paying Agent/Registrar and executing the Paying
Agent/Registrar Agreement, the Paying Agent/Registrar is deemed to have agreed to the
provisions of this Ordinance and that it will perform the duties and functions of Paying
Agent/Registrar prescribed thereby.
Section 5.07. Delivery of Records to Successor.
If a Paying Agent/Registrar is replaced, such Paying Agent/Registrar, promptly upon the
appointment of the successor, will deliver the Register (or a copy thereof) and all other pertinent
books and records relating to the Bonds to the successor Paying Agent/Registrar.
ARTICLE VI
FORM OF THE BONDS
Section 6.01. Form Generally.
(a) The Bonds, the Registration Certificate of the Comptroller of Public Accounts of
the State of Texas, the Certificate of the Paying Agent/Registrar, and the Assignment form to
appear on each of the Bonds, (i) shall be substantially in the form set forth in this Article, with
such appropriate insertions, omissions, substitutions, and other variations as are permitted or
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(b) Any portion of the text of any Bonds may be set forth on the reverse side thereof,
with an appropriate reference thereto on the face of the Bonds.
(c) The definitive Bonds shall be typewritten, printed, lithographed, or engraved, and
may be produced by any combination of these methods or produced in any other similar manner,
all as determined by the officers executing such Bonds, as evidenced by their execution thereof.
(d) The Initial Bond submitted to the Attorney General of the State of Texas may be
typewritten and photocopied or otherwise reproduced.
Section 6.02. Form of the Bonds.
The form of the Bonds, including the form of the Registration Certificate of the
Comptroller of Public Accounts of the State of Texas, the form of Certificate of the Paying
Agent/Registrar and the form of Assignment appearing on the Bonds, shall be substantially as
follows:
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(a) Form of Bond
REGISTERED REGISTERED
No. __________ $__________
United States of America
State of Texas
Counties of Denton and Tarrant
TOWN OF TROPHY CLUB, TEXAS
GENERAL OBLIGATION REFUNDING BOND
SERIES 2010
INTEREST RATE: MATURITY DATE: BOND DATE: CUSIP NUMBER:
_____% _______, ____ October 1, 2010 _______ ___
The Town of Trophy Club, Texas (the “Town”), in the Counties of Denton and Tarrant, State of
Texas, for value received, hereby promises to pay to
________________________
or registered assigns, on the Maturity Date specified above, the sum of
____________________ DOLLARS
unless this Bond shall have been sooner called for redemption and the payment of the principal
hereof shall have been paid or provided for, and to pay interest on such principal amount from
the later of the Bond Date specified above or the most recent interest payment date to which
interest has been paid or provided for until payment of such principal amount has been paid or
provided for, at the per annum rate of interest specified above, computed on the basis of a 360
day year of twelve 30 day months, such interest to be paid semiannually on March 1 and
September 1 of each year, commencing March 1, 2011.
The principal of this Bond shall be payable without exchange or collection charges in
lawful money of the United States of America upon presentation and surrender of this Bond at
the designated office in Dallas, Texas of The Bank of New York Mellon Trust Company, N.A.,
as Paying Agent/Registrar (the “Designated Payment/Transfer Office”), or, with respect to a
successor paying agent/registrar, at the Designated Payment/Transfer Office of such successor.
Interest on this Bond is payable by check dated as of the interest payment date, and will be
mailed by the Paying Agent/Registrar to the registered owner at the address shown on the
registration books kept by the Paying Agent/Registrar or by such other customary banking
arrangement acceptable to the Paying Agent/Registrar and the registered owner; provided,
however, such registered owner shall bear all risk and expense of such other banking
arrangement. For the purpose of the payment of interest on this Bond, the registered owner shall
be the person in whose name this Bond is registered at the close of business on the “Record
Date,” which shall be the last Business Day of the month next preceding such interest payment
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date; provided, however, that in the event of nonpayment of interest on a scheduled payment date
and for 30 days thereafter, a new record date for such interest payment (a “Special Record Date”)
will be established by the Paying Agent/Registrar, if and when funds for the payment of such
interest have been received from the Town. Notice of the Special Record Date and of the
scheduled payment date of the past due interest (the “Special Payment Date,” which date shall be
15 days after the Special Record Date) shall be sent at least five Business Days prior to the
Special Record Date by United States mail, first class, postage prepaid, to the address of each
registered owner of a Bond appearing on the books of the Paying Agent/Registrar at the close of
business on the last Business Day preceding the date of mailing of such notice.
If the date for the payment of the principal of or interest on this Bond shall be a Saturday,
Sunday, legal holiday, or day on which banking institutions in the Town where the Designated
Payment/Transfer Office is located are required or authorized by law or executive order to close,
the date for such payment shall be the next succeeding day which is not a Saturday, Sunday,
legal holiday, or day on which banking institutions are required or authorized to close, and
payment on such date shall have the same force and effect as if made on the original date
payment was due and no additional interest shall be due by reason of nonpayment on the date on
which such payment is otherwise stated to be due and payable.
This Bond is one of a series of fully registered bonds specified in the title hereof issued in
the aggregate principal amount of $_________ (herein referred to as the “Bonds”), issued
pursuant to a certain ordinance of the Town (the “Ordinance”) for the purpose of providing funds
to refund in advance of their maturity certain outstanding obligations of the Town, and to pay the
costs of issuing the Bonds.
The Town has reserved the option to redeem the Bonds maturing on or after September 1,
2021 in whole or in part before their respective scheduled maturity dates, on September 1, 2020
or on any date thereafter, at a price equal to the principal amount of the Bonds so called for
redemption plus accrued interest to the date fixed for redemption. If less than all of the Bonds
are to be redeemed, the Town shall determine the maturity or maturities and the amounts thereof
to be redeemed and shall direct the Paying Agent/Registrar to call by lot the Bonds, or portions
thereof, within such maturity and in such principal amounts, for redemption.
The Town reserves the right to give notice of its election or direction to redeem Bonds
conditioned upon the occurrence of subsequent events. Such notice may state (i) that the
redemption is conditioned upon the deposit of moneys and/or authorized securities, in an amount
equal to the amount necessary to effect the redemption, with the Paying Agent/Registrar, or such
other entity as may be authorized by law, no later than the redemption date, or (ii) that the Town
retains the right to rescind such notice at any time on or prior to the scheduled redemption date if
the Town delivers a certificate of the Town to the Paying Agent/Registrar instructing the Paying
Agent/Registrar to rescind the redemption notice and such notice and redemption shall be of no
effect if such moneys and/or authorized securities are not so deposited or if the notice is
rescinded. The Paying Agent/Registrar shall give prompt notice of any such rescission of a
conditional notice of redemption to the affected Owners. Any Bonds subject to conditional
redemption and such redemption has been rescinded shall remain outstanding and the rescission
of such redemption shall not constitute an event of default. Further, in the case of a conditional
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redemption, the failure of the Town to make moneys and or authorized securities available in
part or in whole on or before the redemption date shall not constitute an event of default.
Not less than thirty (30) days prior to a redemption date for the Bonds, the Town shall
cause a notice of redemption to be sent by United States mail, first class, postage prepaid, to the
Owners of the Bonds to be redeemed at the address of the Owner appearing on the registration
books of the Paying Agent/Registrar at the close of business on the Business Day next preceding
the date of mailing such notice.
Notice of such redemption or redemptions shall be given by first class mail, postage
prepaid, not less than 30 days before the date fixed for redemption, to the registered owner of
each of the Bonds to be redeemed in whole or in part. Notice having been so given, the Bonds or
portions thereof designated for redemption shall become due and payable on the redemption date
specified in such notice; from and after such date, notwithstanding that any of the Bonds or
portions thereof so called for redemption shall not have been surrendered for payment, interest
on such Bonds or portions thereof shall cease to accrue.
As provided in the Ordinance, and subject to certain limitations therein set forth, this
Bond is transferable upon surrender of this Bond for transfer at the Designated Payment/Transfer
Office with such endorsement or other evidence of transfer as is acceptable to the Paying
Agent/Registrar; thereupon, one or more new fully registered Bonds of the same stated maturity,
of authorized denominations, bearing the same rate of interest, and for the same aggregate
principal amount will be issued to the designated transferee or transferees.
Neither the Town nor the Paying Agent/Registrar shall be required to issue, transfer or
exchange any Bond called for redemption where such redemption is scheduled to occur within
45 calendar days of the date fixed for redemption; provided, however, such limitation shall not
be applicable to an exchange by the registered owner of the uncalled principal balance of a Bond.
The Town, the Paying Agent/Registrar, and any other person may treat the person in
whose name this Bond is registered as the owner hereof for the purpose of receiving payment as
herein provided (except interest shall be paid to the person in whose name this Bond is registered
on the Record Date or Special Record Date, as applicable) and for all other purposes, whether or
not this Bond be overdue, and neither the Town nor the Paying Agent/Registrar shall be affected
by notice to the contrary.
IT IS HEREBY CERTIFIED AND RECITED that the issuance of this Bond and the
series of which it is a part is duly authorized by law and has been authorized by a vote of the
properly qualified electors of the Town; that all acts, conditions and things required to be done
precedent to and in the issuance of the Bonds have been properly done and performed and have
happened in regular and due time, form and manner, as required by law; that ad valorem taxes
upon all taxable property in the Town have been levied for and pledged to the payment of the
debt service requirements of the Bonds, within the limit prescribed by law, and that the total
indebtedness of the Town, including the Bonds, does not exceed any statutory or Constitutional
limitation.
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IN WITNESS WHEREOF, the Town has caused this Bond to be executed in its name by
the manual or facsimile signature of the Mayor of the Town and countersigned by the manual or
facsimile signature of the Town Secretary of the Town, and the official seal of the Town has
been duly impressed or placed in facsimile on this Bond.
____________________________________ ____________________________________
Town Secretary, Mayor,
Town of Trophy Club, Texas Town of Trophy Club, Texas
[SEAL]
(b) Form of Comptroller’s Registration Certificate.
The following Comptroller’s Registration Certificate may be deleted from the definitive
Bonds if such Certificate on the Initial Bond is fully executed.
OFFICE OF THE COMPTROLLER §
OF PUBLIC ACCOUNTS § REGISTER NO. _____________
OF THE STATE OF TEXAS §
I hereby certify that there is on file and of record in my office a certificate of the Attorney
General of the State of Texas to the effect that this Bond has been examined by him as required
by law, that he finds that it has been issued in conformity with the Constitution and laws of the
State of Texas, and that it is a valid and binding obligation of the Town of Trophy Club, Texas,
and that this Bond has this day been registered by me.
Witness my hand and seal of office at Austin, Texas, _______________.
____________________________________
Comptroller of Public Accounts
of the State of Texas
[SEAL]
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(c) Form of Certificate of Paying Agent/Registrar.
The following Certificate of Paying Agent/Registrar may be deleted from the Initial Bond
if the executed Comptroller’s Registration Certificate appears thereon.
CERTIFICATE OF PAYING AGENT/REGISTRAR
The records of the Paying Agent/Registrar show that the Initial Bond of this series of
bonds was approved by the Attorney General of the State of Texas and registered by the
Comptroller of Public Accounts of the State of Texas, and that this is one of the Bonds referred
to in the within mentioned Ordinance.
THE BANK OF NEW YORK MELLON TRUST
COMPANY, N.A.,
Dallas, Texas, as Paying Agent/Registrar
Dated: ______________________ __________________________________________
Authorized Signatory
(d) Form of Assignment.
ASSIGNMENT
FOR VALUE RECEIVED, the undersigned hereby sells, assigns, and transfers unto (print or
typewrite name, address and Zip Code of transferee): __________________________________
______________________________________________________________________________
______________________________________________________________________________
(Social Security or other identifying number: ____________________) the within Bond and all
rights hereunder and hereby irrevocably constitutes and appoints ___________________
attorney to transfer the within Bond on the books kept for registration hereof, with full power of
substitution in the premises.
Date: ______________________
Signature Guaranteed By:
___________________________
___________________________
Authorized Signatory
________________________________________
NOTICE: The signature on this Assignment must
correspond with the name of the registered owner
as it appears on the face of the within Bond in
every particular and must be guaranteed in a
manner acceptable to the Paying Agent/Registrar.
(e) The Initial Bond shall be in the form set forth in paragraphs (a), (b) and (d) of this
Section, except for the following alterations:
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(i) immediately under the name of the Bond, the headings “INTEREST
RATE” and “MATURITY DATE” shall be completed with the words “As Shown
Below” and CUSIP NUMBER” shall be deleted;
(ii) in the first paragraph of the Bond, the words “on the Maturity Date
specified above” shall be deleted and the following will be inserted: “on September 15 in
each of the years, in the principal installments and bearing interest at the per annum rates
in accordance with the following schedule:
Years Principal Installments Interest Rate
(Information to be inserted from
schedule in Section 3.02 of this Ordinance)
(iii) the Initial Bond shall be numbered T-1.
Section 6.03. CUSIP Registration.
The Town may secure identification numbers through the CUSIP Service Bureau
Division of Standard & Poor’s Corporation, New York, New York, and may authorize the
printing of such numbers on the face of the Bonds. It is expressly provided, however, that the
presence or absence of CUSIP numbers on the Bonds shall be of no significance or effect as
regards the legality thereof and neither the Town nor the attorneys approving said Bonds as to
legality are to be held responsible for CUSIP numbers incorrectly printed on the Bonds.
Section 6.04. Legal Opinion.
The approving legal opinions of Vinson & Elkins L.L.P., Bond Counsel, may be printed
on the reverse side of or attached to each Bond over the certification of the Town Secretary of
the Town, which may be executed in facsimile.
Section 6.05. Statement of Insurance.
A statement relating to a municipal bond insurance policy, if any, to be issued for the
Bonds may be printed on or attached to each Bond.
ARTICLE VII
SALE AND DELIVERY OF BONDS, DEPOSIT OF PROCEEDS
Section 7.01. Sale of Bonds, Official Statement.
(a) The Bonds are hereby officially sold and awarded and shall be delivered to First
Southwest Company, Inc. (collectively, the “Underwriters”), in accordance with the terms and
provisions of that certain Bond Purchase Agreement relating to the Bonds between the Town and
the Underwriter and dated the date of the passage of this Ordinance. The form and content of
such Bond Purchase Agreement are hereby approved, and the Mayor is hereby authorized and
directed to execute and deliver, and the Town Secretary is hereby authorized and directed to
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(b) The form and substance of the Preliminary Official Statement and any addenda,
supplement or amendment thereto, and the final Official Statement (the “Official Statement”)
presented to and considered at this meeting, are hereby in all respects approved and adopted and
the Preliminary Official Statement is hereby deemed final as of its date within the meaning and
for the purposes of paragraph (b)(1) of Rule 15c2 12 under the Securities Exchange Act of 1934,
as amended. The Mayor and Town Secretary of the Town are hereby authorized and directed to
execute the same and deliver appropriate numbers of executed copies thereof to the Purchaser.
The Official Statement as thus approved, executed and delivered, with such appropriate
variations as shall be approved by the Mayor of the Town and the Purchaser, may be used by the
Purchaser in the public offering and sale thereof. The Town Secretary is hereby authorized and
directed to include and maintain a copy of the Official Statement and any addenda, supplement
or amendment thereto thus approved among the permanent records of this meeting. The use and
distribution of the Preliminary Official Statement, and the preliminary public offering of the
Bonds by the Purchaser is hereby ratified, approved and confirmed.
(c) All officers of the Town are authorized to execute such documents, certificates
and receipts, and to make such elections with respect to the tax exempt status of Bonds, as they
may deem appropriate in order to consummate the delivery of the Bonds in accordance with the
provisions and terms of the Notice of Sale and Bidding Instructions and this Ordinance. Further,
in connection with the submission of the record of proceedings for the Bonds to the Attorney
General of the State of Texas for examination and approval of such Bonds, the appropriate
officer of the Town is hereby authorized and directed to issue a check of the Town payable to the
Attorney General of the State of Texas as a nonrefundable examination fee in the amount
required by Chapter 1202, Texas Government Code (such amount not to exceed $9,500).
(d) The obligation of the Underwriter to accept delivery of the Bonds is subject to
such purchaser being furnished with the final, approving opinion of Vinson & Elkins L.L.P.,
bond counsel for the Town, which opinion shall be dated and delivered the Closing Date.
Section 7.02. Control and Delivery of Bonds.
(a) The Mayor of the Town is hereby authorized to have control of the Initial Bond
and all necessary records and proceedings pertaining thereto pending investigation, examination
and approval of the Attorney General of the State of Texas, registration by the Comptroller of
Public Accounts of the State and registration with, and initial exchange or transfer by, the Paying
Agent/Registrar.
(b) After registration by the Comptroller of Public Accounts, delivery of the Bonds
shall be made to the Purchaser under and subject to the general supervision and direction of the
Mayor, against receipt by the Town of all amounts due to the Town under the terms of sale.
(c) In the event the Mayor or Town Secretary is absent or otherwise unable to execute
any document or take any action authorized herein, the Mayor Pro Tem and the Assistant Town
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Section 7.03. Deposit of Proceeds.
(a) All amounts received on the Closing Date as accrued interest on the Bonds from
the Bond Date to the Closing Date, shall be deposited to the Interest and Sinking Fund.
(b) __________ of the proceeds of the Bonds shall be deposited to the Escrow Fund
and shall be applied in accordance with the Escrow Agreement.
(c) An amount equal to __________ shall be deposited as directed by the Director of
Finance and used to pay the costs and expenses pertaining to the issuance of the Bonds;
including bond insurance, if any. To the extent any of such sum is not used for such purpose,
such excess shall be deposited to the Interest and Sinking Fund.
ARTICLE VIII
INVESTMENTS
Section 8.01. Investments.
(a) Money in the Interest and Sinking Fund created by this Ordinance, at the option
of the Town, may be invested in such securities or obligations as permitted under applicable law
as in effect on the date of the investment.
(b) Any securities or obligations in which money in the Interest and Sinking Fund is
so invested shall be kept and held in trust for the benefit of the Owners and shall be sold and the
proceeds of sale shall be timely applied to the making of all payments required to be made from
the Interest and Sinking Fund.
Section 8.02. Investment Income.
(a) Interest and income derived from investment of the Interest and Sinking Fund
shall be credited to such Fund.
(b) Interest and income derived from the investment of funds deposited pursuant to
Section 7.05(b) hereof shall be credited to the fund or account where deposited until completion
of the Projects; thereafter, to the extent such interest and income are present, such interest and
income shall be deposited to the Interest and Sinking Fund.
ARTICLE IX
PARTICULAR REPRESENTATIONS AND COVENANTS
Section 9.01. Payment of the Bonds.
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On or before each Interest Payment Date for the Bonds and while any of the Bonds are
outstanding and unpaid, there shall be made available to the Paying Agent/Registrar, out of the
Interest and Sinking Fund, money sufficient to pay such interest on and principal of the Bonds as
will accrue or mature on the applicable Interest Payment Date, maturity date or date of prior
redemption.
Section 9.02. Other Representations and Covenants.
(a) The Town will faithfully perform at all times any and all covenants, undertakings,
stipulations, and provisions contained in this Ordinance and in each Bond; the Town will
promptly pay or cause to be paid the principal of and interest on each Bond on the dates and at
the places and manner prescribed in such Bond; and the Town will, at the times and in the
manner prescribed by this Ordinance, deposit or cause to be deposited the amounts of money
specified by this Ordinance.
(b) The Town is duly authorized under the laws of the State of Texas to issue the
Bonds; all action on its part for the creation and issuance of the Bonds has been duly and
effectively taken; and the Bonds in the hands of the Owners thereof are and will be valid and
enforceable obligations of the Town in accordance with their terms.
Section 9.03. Provisions Concerning Federal Income Tax Exclusion.
The Town intends that the interest on the Bonds shall be excludable from gross income
for purposes of federal income taxation pursuant to sections 103 and 141 through 150 of the
Internal Revenue Code of 1986, as amended (the “Code”), and the applicable regulations
promulgated thereunder (the “Regulations”). The Town covenants and agrees not to take any
action, or knowingly omit to take any action within its control, that if taken or omitted,
respectively, would cause the interest on the Bonds to be includable in the gross income, as
defined in section 61 of the Code, of the holders thereof for purposes of federal income taxation.
In particular, the Town covenants and agrees to comply with each requirement of this Article IX;
provided, however, that the Town shall not be required to comply with any particular
requirement of this Article IX, if the Town has received an opinion of nationally recognized
bond counsel (“Counsel’s Opinion”) that such noncompliance will not adversely affect the
exclusion from gross income for federal income tax purposes of interest on the Bonds or if the
Town has received a Counsel’s Opinion to the effect that compliance with some other
requirement set forth in this Article IX, will satisfy the applicable requirements of the Code and
the Regulations, in which case compliance with such other requirement specified in such
Counsel’s Opinion shall constitute compliance with the corresponding requirement specified in
this Article IX.
Section 9.04. No Private Use or Payment and No Private Loan Financing.
The Town shall certify, through an authorized officer, employee or agent, that, based
upon all facts and estimates known or reasonably expected to be in existence on the date the
Bonds are delivered, the proceeds of the Bonds will not be used in a manner that would cause the
Bonds to be “private activity bonds” within the meaning of section 141 of the Code and the
Regulations. The Town covenants and agrees that it will make such use of the proceeds of the
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Bonds, including interest or other investment income derived from Bond proceeds, regulate the
use of property financed, directly or indirectly, with such proceeds, and take such other and
further action as may be required so that the Bonds will not be “private activity bonds” within
the meaning of section 141 of the Code and the Regulations promulgated thereunder.
Section 9.05. No Federal Guaranty.
The Town covenants and agrees not to take any action, or knowingly omit to take any
action within its control, that, if taken or omitted, respectively, would cause the Bonds to be
“federally guaranteed” within the meaning of section 149(b) of the Code and the Regulations,
except as permitted by section 149(b)(3) of the Code and the Regulations.
Section 9.06. Bonds are not Hedge Bonds.
The Town covenants and agrees not to take any action, or knowingly omit to take any
action, and has not knowingly omitted and will not knowingly omit to take any action, within its
control, that, if taken or omitted, respectively, would cause the Bonds to be “hedge bonds”
within the meaning of section 149(g) of the Code and the Regulations.
Section 9.07. No Arbitrage Covenant.
The Town shall certify, through an authorized officer, employee or agent, that, based
upon all facts and estimates known or reasonably expected to be in existence on the date the
Bonds are delivered, the Town will reasonably expect that the proceeds of the Bonds will not be
used in a manner that would cause the Bonds to be “arbitrage bonds” within the meaning of
section 148(a) of the Code and the Regulations. Moreover, the Town covenants and agrees that
it will make such use of the proceeds of the Bonds including interest or other investment income
derived from Bond proceeds, regulate investments of proceeds of the Bonds, and take such other
and further action as may be required so that the Bonds will not be “arbitrage bonds” within the
meaning of section 148(a) of the Code and the applicable Regulations promulgated thereunder.
Section 9.08. Arbitrage Rebate.
If the Town does not qualify for an exception to the requirements of Section 148(f) of the
Code, the Town will take all necessary steps to comply with the requirement that certain amounts
earned by the Town on the investment of the “gross proceeds” of the Bonds (within the meaning
of section 148(f)(6)(B) of the Code), be rebated to the federal government. Specifically, the
Town will (i) maintain records regarding the investment of the gross proceeds of the Bonds as
may be required to calculate the amount earned on the investment of the gross proceeds of the
Bonds separately from records of amounts on deposit in the funds and accounts of the Town
allocable to other bond issue of the Town or moneys which do not represent gross proceeds of
any bonds of the Town, (ii) calculate at such times as are required by the Regulations, the
amount earned from the investment of the gross proceeds of the Bonds which is required to be
rebated to the federal government, and (iii) pay, not less often than every fifth anniversary date
of the delivery of the Bonds or on such other dates as may be permitted under the Regulations,
all amounts required to be rebated to the federal government. Further, the Town will not
indirectly pay any amount otherwise payable to the federal government pursuant to the foregoing
requirements to any person other than the federal government by entering into any investment
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arrangement with respect to the gross proceeds of the Bonds that might result in a reduction in
the amount required to be paid to the federal government because such arrangement results in a
smaller profit or a larger loss than would have resulted if the arrangement had been at arm’s
length and had the yield on the issue not been relevant to either party.
Section 9.09. Qualified Tax-Exempt Obligations. The Town hereby designates the
Bonds as “qualified tax-exempt obligations” for purposes of section 265(b) of the Code. In
connection therewith, the Town represents (a) that the aggregate amount of tax-exempt
obligations issued by the Town during calendar year 2010, including the Bonds, which have been
designated as “qualified tax-exempt obligations” under section 265(b)(3) of the Code does not
exceed $30,000,000, and (b) that the reasonably anticipated amount of its tax-exempt obligations
which will be issued by the Town during calendar year 2010, including the Bonds, will not
exceed $30,000,000. For purposes of this Section 10.09, the term “tax-exempt obligations” does
not include “ private activity bonds” within the meaning of section 141 of the Code, other than
“qualified 501(c)(3) bonds” within the meaning of section 145 of the Code. In addition, for
purposes of this Section 10.09, the Town includes all governmental units which are aggregate
with the Town under section 265(b) of the Code.
Section 9.10. Information Reporting.
The Town covenants and agrees to file or cause to be filed with the Secretary of the
Treasury, not later than the 15th day of the second calendar month after the close of the calendar
quarter in which the Bonds are issued, an information statement concerning the Bonds, all under
and in accordance with section 149(e) of the Code and the Regulations.
Section 9.11. Continuing Obligation.
Notwithstanding any other provision of this Ordinance, the Town’s obligations under the
covenants and provisions of this Article IX, shall survive the defeasance and discharge of the
Bonds.
ARTICLE X
DEFAULT AND REMEDIES
Section 10.01. Events of Default.
Each of the following occurrences or events for the purpose of this Ordinance is hereby
declared to be an Event of Default:
(i) the failure to make payment of the principal of or interest on any of the
Bonds when the same becomes due and payable; or
(ii) default in the performance or observance of any other covenant,
agreement or obligation of the Town, which default materially and adversely affects the
rights of the Owners, including but not limited to, their prospect or ability to be repaid in
accordance with this Ordinance, and the continuation thereof for a period of 60 days after
notice of such default is given by any Owner to the Town.
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Town Council 90 of 141 Meeting Date: September 20, 2010
Section 10.02. Remedies for Default.
(a) Upon the happening of any Event of Default, then any Owner or an authorized
representative thereof, including but not limited to, a trustee or trustees therefor, may proceed
against the Town for the purpose of protecting and enforcing the rights of the Owners under this
Ordinance, by mandamus or other suit, action or special proceeding in equity or at law, in any
court of competent jurisdiction, for any relief permitted by law, including the specific
performance of any covenant or agreement contained herein, or thereby to enjoin any act or thing
that may be unlawful or in violation of any right of the Owners hereunder or any combination of
such remedies.
(b) It is provided that all such proceedings shall be instituted and maintained for the
equal benefit of all Owners of Bonds then outstanding.
Section 10.03. Remedies Not Exclusive.
(a) No remedy herein conferred or reserved is intended to be exclusive of any other
available remedy or remedies, but each and every such remedy shall be cumulative and shall be
in addition to every other remedy given hereunder or under the Bonds or now or hereafter
existing at law or in equity; provided, however, that notwithstanding any other provision of this
Ordinance, the right to accelerate the debt evidenced by the Bonds shall not be available as a
remedy under this Ordinance.
(b) The exercise of any remedy herein conferred or reserved shall not be deemed a
waiver of any other available remedy.
ARTICLE XI
DISCHARGE
Section 11.01. Discharge.
The Bonds may be defeased, discharged or refunded in any manner permitted by
applicable law.
ARTICLE XII
REFUNDED BONDS
Section 12.01. Payment of Paying Agency.
Prior to the Closing Date, the Town shall ascertain from the paying agents for the
Refunded Bonds the amount of all future fees and expenses for its paying agency services with
respect to the Refunded Bonds. Concurrently with the sale and delivery of the Bonds, the Town
shall cause an amount sufficient to pay such future fees and expenses to be paid to each such
paying agent.
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Town Council 91 of 141 Meeting Date: September 20, 2010
Section 12.02. Escrow Agreement.
The discharge and defeasance of the Refunded Bonds shall be effectuated pursuant to the
terms and provisions of an Escrow Agreement (the “Escrow Agreement”). The Escrow
Agreement in substantially the form presented at this meeting is hereby approved. The execution
and delivery by the Mayor is hereby authorized and approved. The Town Secretary is hereby
authorized to attest thereto and affix the Town’s seal.
Section 12.03. Redemption of Refunded Bonds.
The Town hereby calls the Refunded Bonds for redemption prior to maturity on the dates
and at the prices set forth on Schedule 1 hereto. Following the deposit to the Escrow Fund as
herein specified, the Refunded Bonds shall be payable solely from and secured by the cash and
securities on deposit in the Escrow Fund and shall cease to be payable from ad valorem taxes.
Section 12.04. Purchase of Federal Securities.
To assure the purchase of the Federal Securities to be identified in the Escrow
Agreement, the Director of Finance is hereby authorized to subscribe for, agree to purchase, and
purchase obligations of the United States of America, in such amounts and maturities and
bearing interest at such rates as may be provided for in the Escrow Agreement, and to execute
any and all subscriptions, purchase agreements, commitments, letters of authorization and other
documents necessary to effectuate the foregoing, and any actions heretofore taken for such
purpose are hereby ratified and approved.
Section 12.05. Notice of Deposit and Redemption.
The Town Secretary is hereby authorized to cause notice of redemption to be given to the
respective paying agent/registrar for the Refunded Bonds by delivery of a certified copy of this
Ordinance. Each paying agent/registrar for the Refunded Bonds is hereby authorized and
directed to give notice of deposit and notice of redemption with respect to the Refunded Bonds
as required under the ordinance pursuant to which the Refunded Bonds were issued.
ARTICLE XIII
CONTINUING DISCLOSURE UNDERTAKING
Section 13.01. Annual Reports.
The Town shall provide annually to the MSRB, within six (6) months after the end of
each fiscal year, financial information and operating data with respect to the Town of the general
type included in the final Official Statement, being the information described in Exhibit A
hereto. Any financial statements so to be provided shall be (i) prepared in accordance with the
accounting principles described in Exhibit A hereto, and (ii) audited, if the Town commissions
an audit of such statements and the audit is completed within the period during which they must
be provided, and (iii) submitted through the EMMA, in an electronic format with accompanying
identifying information, as prescribed by the MSRB. If the audit of such financial statements is
not complete within such period, then the Town shall provide notice that audited financial
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Town Council 92 of 141 Meeting Date: September 20, 2010
statements are not available and shall provide unaudited financial statements for the applicable
fiscal year to the MSRB. The Town shall provide audited financial statements for the applicable
fiscal year to the MSRB. Thereafter, when and if audited financial statements become available,
the Town shall provide such audited financial statements as required to the MSRB.
If the Town changes its fiscal year, it will notify the MSRB of the change (and of the date
of the new fiscal year end) prior to the next date by which the Town otherwise would be required
to provide financial information and operating data pursuant to this Section.
The financial information and operating data to be provided pursuant to this Section may
be set forth in full in one or more documents or may be included by specific reference to any
document (including an official statement or other offering document, if it is available from the
MSRB) that theretofore has been provided to the MSRB or filed with the SEC.
Section 13.02. Material Event Notices.
The Town shall notify the MSRB, in a timely manner, of any of the following events with
respect to the Bonds, if such event is material within the meaning of the federal securities laws:
(i) principal and interest payment delinquencies;
(ii) nonpayment related defaults;
(iii) unscheduled draws on debt service reserves reflecting financial
difficulties;
(iv) unscheduled draws on credit enhancements reflecting financial
difficulties;
(v) substitution of credit or liquidity providers, or their failure to perform;
(vi) adverse tax opinions or events affecting the tax exempt status of the
Bonds;
(vii) modifications to rights of Owners;
(viii) redemption calls;
(ix) defeasances;
(x) release, substitution, or sale of property securing repayment of the Bonds;
and
(xi) rating changes.
The Town shall notify the MSRB, in a timely manner, of any failure by the Town to
provide financial information or operating data in accordance with Section 12.01 of this
Ordinance by the time required by such Section.
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Town Council 93 of 141 Meeting Date: September 20, 2010
Section 13.03. Limitations, Disclaimers and Amendments.
The Town shall be obligated to observe and perform the covenants specified in this
Article for so long as, but only for so long as, the Town remains an “obligated person” with
respect to the Bonds within the meaning of the Rule, except that the Town in any event will give
notice of any deposit made in accordance with Article XI that causes Bonds to no longer be
outstanding.
The provisions of this Article are for the sole benefit of the Owners and beneficial owners
of the Bonds, and nothing in this Article, express or implied, shall give any benefit or any legal
or equitable right, remedy, or claim hereunder to any other person. The Town undertakes to
provide only the financial information, operating data, financial statements, and notices which it
has expressly agreed to provide pursuant to this Article and does not hereby undertake to provide
any other information that may be relevant or material to a complete presentation of the Town’s
financial results, condition, or prospects or hereby undertake to update any information provided
in accordance with this Article or otherwise, except as expressly provided herein. The Town
does not make any representation or warranty concerning such information or its usefulness to a
decision to invest in or sell Bonds at any future date.
UNDER NO CIRCUMSTANCES SHALL THE TOWN BE LIABLE TO THE OWNER
OR BENEFICIAL OWNER OF ANY BOND OR ANY OTHER PERSON, IN CONTRACT OR
TORT, FOR DAMAGES RESULTING IN WHOLE OR IN PART FROM ANY BREACH BY
THE TOWN, WHETHER NEGLIGENT OR WITHOUT FAULT ON ITS PART, OF ANY
COVENANT SPECIFIED IN THIS ARTICLE, BUT EVERY RIGHT AND REMEDY OF
ANY SUCH PERSON, IN CONTRACT OR TORT, FOR OR ON ACCOUNT OF ANY SUCH
BREACH SHALL BE LIMITED TO AN ACTION FOR MANDAMUS OR SPECIFIC
PERFORMANCE.
No default by the Town in observing or performing its obligations under this Article shall
constitute a breach of or default under the Ordinance for purposes of any other provisions of this
Ordinance.
Nothing in this Article is intended or shall act to disclaim, waive, or otherwise limit the
duties of the Town under federal and state securities laws.
The provisions of this Article may be amended by the Town from time to time to adapt to
changed circumstances that arise from a change in legal requirements, a change in law, or a
change in the identity, nature, status, or type of operations of the Town, but only if (i) the
provisions of this Article, as so amended, would have permitted an underwriter to purchase or
sell Bonds in the primary offering of the Bonds in compliance with the Rule, taking into account
any amendments or interpretations of the Rule to the date of such amendment, as well as such
changed circumstances, and (ii) either (A) the Owners of a majority in aggregate principal
amount (or any greater amount required by any other provisions of this Ordinance that authorizes
such an amendment) of the outstanding Bonds consent to such amendment or (B) an entity or
individual person that is unaffiliated with the Town (such as nationally recognized bond counsel)
determines that such amendment will not materially impair the interests of the Owners and
beneficial owners of the Bonds. If the Town so amends the provisions of this Article, it shall
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Town Council 94 of 141 Meeting Date: September 20, 2010
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include with any amended financial information or operating data next provided in accordance
with Section 12.01 an explanation, in narrative form, of the reasons for the amendment and of
the impact of any change in type of financial information or operating data so provided.
________________________________________
Town Council 95 of 141 Meeting Date: September 20, 2010
Signature Page for Bond Ordinance
Town of Trophy Club General Obligation Bonds, Series 2010
US 541919v.1
APPROVED AND ADOPTED this _____ day of ___________, 2010.
____________________________________
Mayor, Town of Trophy Club, Texas
ATTEST:
____________________________________
Town Secretary
Town of Trophy Club, Texas
APPROVED AS TO FORM:
____________________________________
Town Attorney
Town of Trophy Club, Texas
Town Council 96 of 141 Meeting Date: September 20, 2010
SCHEDULE I *
SCHEDULE OF REFUNDED BONDS
The following outstanding bonds will be redeemed prior to original maturity on
September 15, 2004 or September 15, 2005, as indicated below, at the redemption prices
indicated below, plus interest accrued to the Redemption Date.
General Obligation Bonds, Series 2002
Redemption Date: 09-01-11 at a price of par plus accrued interest to the Redemption
Date
Original Dated
Date
Original
Maturity (9/1)
Principal
Amount
Amount to be
Refunded Interest Rates
January 1, 2002 2012 $140,000 $140,000 4.350%
2013 150,000 150,000 4.450%
2014 155,000 155,000 4.550%
2015 165,000 165,000 4.650%
2018(1) 540,000 540,000 4.750%
2021(2) 615,000 615,000 5.000%
2022 230,000 230,000 5.000%
$1,995,000 $1,995,000
(1) Represents a Term Bond with mandatory sinking fund payments on September 1, 2016, September 1, 2017 and
a final maturity on September 1, 2018.
(2) Represents a Term Bond with mandatory sinking fund payments on September 1, 2019, September 1, 2020 and
a final maturity on September 1, 2021.
General Obligation Refunding Bonds, Series 2002
Redemption Date: 11-23-10 at a price of par plus accrued interest to the Redemption
Date
Original Dated
Date
Original
Maturity (9/1)
Principal
Amount
Amount to be
Refunded Interest Rates
February 1, 2002 2011 $170,000 $170,000 4.200%
2012 180,000 180,000 4.300%
2013 185,000 185,000 4.400%
2014 195,000 195,000 4.500%
Total Refunded Bonds $2,725,000
* Preliminary, subject to change.
Town Council 97 of 141 Meeting Date: September 20, 2010
A-1
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EXHIBIT A
DESCRIPTION OF ANNUAL DISCLOSURE OF FINANCIAL INFORMATION
The following information is referred to in Article XII of this Ordinance.
Annual Financial Statements and Operating Data
The financial information and operating data with respect to the Town to be provided
annually in accordance with such Article are as specified (and included in the Appendix or other
headings of the Official Statement referred to) below:
1. The portions of the financial statements of the Town appended to the Official
Statement as Appendix D, but for the most recently concluded fiscal year.
2. Statistical and financial data set forth in Tables numbered 1, 2, 3, 9, 10, 12, 13, 14
and 20 in Appendix A.
Accounting Principles
The accounting principles referred to in such Article are the accounting principles
described in the notes to the financial statements referred to in Paragraph 1 above.
Town Council 98 of 141 Meeting Date: September 20, 2010
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12010-509-T Name:
Status:Type:Agenda Item Executive Session
File created:In control:9/14/2010 Town Council
On agenda:Final action:9/20/2010
Title:Pursuant to Texas Government Code, Annotated, Subchapter 551, the Council will enter into
executive session to or deliberate the appointment, employment, evaluation, reassignment, duties,
discipline or dismissal of a public officer or employee pursuant to Section 551.074 (a) (1) of the Texas
Open
Meetings Act:
(1) Review and discuss the interviews for the position of Trophy Club Town Manager
Attachments:
Action ByDate Action ResultVer.
Town Council 99 of 141 Meeting Date: September 20, 2010
File #: 2010-509-T, Version: 1
Title
Pursuant to Texas Government Code, Annotated, Subchapter 551, the Council will enter into executive session to or
deliberate the appointment, employment, evaluation, reassignment, duties, discipline or dismissal of a public officer or
employee pursuant to Section 551.074 (a) (1) of the Texas Open
Meetings Act:
(1) Review and discuss the interviews for the position of Trophy Club Town Manager
Body
[Enter body here.]
Town Council 100 of 141 Meeting Date: September 20, 2010
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12010-510-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:9/14/2010 Town Council
On agenda:Final action:9/20/2010
Title:Consider and take appropriate action regarding the Executive Session.
Attachments:
Action ByDate Action ResultVer.
Town Council 101 of 141 Meeting Date: September 20, 2010
File #: 2010-510-T, Version: 1
Title
Consider and take appropriate action regarding the Executive Session.
Body
[Enter body here.]
Town Council 102 of 141 Meeting Date: September 20, 2010
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12010-496-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:9/14/2010 Town Council
On agenda:Final action:9/20/2010
Title:Consider and take appropriate action regarding financial and variance report dated August 2010.
Attachments:August 2010 Monthly Financial Statements.pdf
Action ByDate Action ResultVer.
Town Council 103 of 141 Meeting Date: September 20, 2010
File #: 2010-496-T, Version: 1
Title
Consider and take appropriate action regarding financial and variance report dated August 2010.
Body
February 2010 monthly financial report is presented in a format that provides the comparison of monthly and year to date
actual amounts to the current fiscal year budget. The accompanying variance report provides an explanation actual fiscal
year to date revenues and departmental expenditures which vary more than 10% from the percent of the fiscal year
lapsed.
Management recommends approval.
Goal #6: A vibrant, inclusive community with involved, caring residents
Provide superior customer services
Foster a well informed community
Town Council 104 of 141 Meeting Date: September 20, 2010
Town Council 105 of 141 Meeting Date: September 20, 2010
Town Council 106 of 141 Meeting Date: September 20, 2010
Town Council 107 of 141 Meeting Date: September 20, 2010
Town Council 108 of 141 Meeting Date: September 20, 2010
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12010-505-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:9/14/2010 Town Council
On agenda:Final action:9/20/2010
Title:Consider and take appropriate action regarding the process for the adoption of the FY 2010-2011
Budget and Tax Rate.
Attachments:
Action ByDate Action ResultVer.
Town Council 109 of 141 Meeting Date: September 20, 2010
File #: 2010-505-T, Version: 1
Title
Consider and take appropriate action regarding the process for the adoption of the FY 2010-2011 Budget and Tax Rate.
Body
A taxing unit must adopt its tax rate before September 30 or by the 60th day after the taxing unit receives the certified
appraisal roll (September 20th), whicheveris later. Failureto adopt a tax rate by this deadline results in the unit adopting
its effective rate or last year's rate, whichever is lower, as its tax rate.That would make our rate $0.47 for 2010 as the
current rate ($0.47) is lower than the effective rate of $0.488814.
The loss in funding from the Manager’s proposed rate of $0.50032 per $100 valuation to the current rate of $0.47 per
$100 valuation is $230,779.
Further, if a taxing unit's governing body fails to comply with the hearing, notice or rate adopting process in good faith, a
property owner in the unit may seek an injunction to stop the unit from sending tax bills until the unit convinces the district
court that it has complied with the law.
According to State law, the Council must adopt the budget before adopting a tax rate.
Goal #6: A vibrant, inclusive community with involved, caring residents
Provide superior customer services
Foster a well informed community
Town Council 110 of 141 Meeting Date: September 20, 2010
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12010-481-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:9/7/2010 Town Council
On agenda:Final action:9/20/2010
Title:Consider and take appropriate action regarding the creation of a Code of Conduct/Ethics Ordinance
and the establishment of an Ethics Commission.
Attachments:TC Code of Ethics & Conduct Proposal Rev 7c.pdf
Financial Disclosure Statement Rev 3c.pdf
Ord. 2010-XX Draft Ethics Ordinance - Compliance with State law.pdf
Action ByDate Action ResultVer.
Town Council9/13/2010 1
Town Council 111 of 141 Meeting Date: September 20, 2010
File #: 2010-481-T, Version: 1
Title
Consider and take appropriate action regarding the creation of a Code of Conduct/Ethics Ordinance and the
establishment of an Ethics Commission.
Body
This item was originally posted to the September 13, 2010 Town Council Agenda. The item requested by Mayor Pro Tem
Rose and Council member Cantrell. The back-up was received by staff after 5 pm on Wednesday, September 8. Staff did
not have enough time to thoroughly evaluate the submission prior to the September 13, 2010 Agenda posting. Based on
prior Council feedback, the consensus was to have an ordinance that was not as detailed and did not require the amount
of disclosure as the proposed draft by Council member Rose. Staff has put together an ordinance that provides for
adherence to Charter requirements as well as follows the laws set forth by State law.
The Council requested that this item be postponed one week to give Staff the opportunity to review the submission.
Town Council 112 of 141 Meeting Date: September 20, 2010
DRAFT
TOWN OF TROPHY CLUB, TEXAS
ORDINANCE 2010 - ___
AN ORDINANCE OF THE TOWN OF TROPHY CLUB, TEXAS,
PROVIDING AN ETHICS POLICY; DEFINING CERTAIN TERMS;
PROVIDING FOR STANDARDS OF CONDUCT; PROVIDING FOR
CERTAIN FINANCIAL DISCLOSURES; ESTABLISHING AN ETHICS
COMMISSION; PROVIDING FOR DISPOSITION OF ALLEGED
VIOLATIONS; AMENDING THE CODE OF ORDINANCES; PROVIDING
AN EFFECTIVE DATE AND SAVINGS CLAUSE; AND PROVIDING FOR
RELATED MATTERS.
WHEREAS, the Town of Trophy Club, Texas is a Home Rule Town acting under its
Charter adopted by the electorate pursuant to Article XI, Section 5 of the Texas
Constitution and Chapter 9 of the Local Government Code; and
WHEREAS, at a Special Election held in accordance with Ordinance 2009-07, within the
Town of Trophy Club, Texas, on the 9th day of May, 2009, more than a majority of the
duly qualified resident electors of the Town of Trophy Club, voting in the Special
Election, voted in favor of the approval and adoption of various amendments to the
Home Rule Charter for the Town of Trophy Club, Texas; and
WHEREAS, on the 18th day of May, 2009, the Town Council of the Town of Trophy Club
adopted Ordinance 2009-12 canvassing the returns of the Special Election and declaring
that the Charter had been so amended in accordance with the official results of the
Special Election and the Order of the Special Election, and thereby approved and
adopted amendments to the Home-Rule Charter of the Town of Trophy Club; and
WHEREAS, a Code of Ethics and Conduct, and an Ethics Commission amendment
were included in Ordinance 2009-07 and Ordinance 2009-12; and
WHEREAS, the Code of Ethics and Conduct, and Ethics Commission amendment
requires an ethics and conduct ordinance be adopted by the Town Council; and
WHEREAS, the Code of Ethics and Conduct, and Ethics Commission amendment
requires an ethics and conduct ordinance be applicable to elected officers, appointed
boards, commissions, committee members, and employees of the Town; and
WHEREAS, the Code of Ethics and Conduct, and Ethics Commission amendment
requires establishment of an independent Ethics Commission; and
WHEREAS, statutory provisions governing the ethical conduct of public officials and
employees are found in various codes including the Texas Local Government Code,
Texas Government Code and the Texas Penal Code; and
WHEREAS, the conduct of the public business should be accomplished by Town
Officials, appointees and employees that have no personal financial interest in such
business clearly separate from that of the general public; and
WHEREAS, it is important that Town Officials, appointees and employees be provided
with a process and procedure to give notice and to then refrain from participation in any
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09-07-10 Rev 7
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Town Council 113 of 141 Meeting Date: September 20, 2010
DRAFT
specific business of the Town in which such Official has a personal financial interest
different from that of the general public; and
WHEREAS, a reasonable ethics ordinance with disclosure requirements will provide a
basis for continuing public confidence in the conduct of the business and affairs of the
Town;
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE
TOWN OF TROPHY CLUB, TEXAS, THAT:
CODE OF ETHICS AND CONDUCT
SECTION 1.
POLICY
(1) It is the policy of the Town that the proper operation of democratic government
requires that Town officials, appointees and employees be independent, impartial and
responsible to the people; that governmental decisions and policy be made in proper
channels of the governmental structure; that public office not be used for personal gain;
and that the public have confidence in the integrity of its government in recognition of
these goals, a code of ethics and conduct for all Town officials, appointees and
employees is adopted.
(2) This code of ethics has four purposes: (a) to encourage high ethical standards in
official conduct by Town officials, appointees and employees; (b) to establish guidelines
for ethical standards of conduct for all such officials, appointees and employees by
setting forth those acts or actions that are incompatible with the best interests of the
Town; (c) to require disclosure by such officials, candidates, appointees and employees
of private financial or other interests in matters affecting the Town; and (d) to serve as a
basis for disciplining those who fail to abide by its terms.
(3) The provisions of this article shall not apply to political contributions, loans,
expenditures, reports or regulation of political campaigns, or the conduct of candidates in
such campaigns, except as expressly provided herein.
SECTION 2.
PRINCIPLES OF CONDUCT
(1) The Town Council further believes that an elected or appointed Town official,
appointee or employee assumes a public trust and should recognize the importance of
high ethical standards within the organization they lead or support. Essential values and
ethical behaviors that an elected or appointed Town official, appointee or employee
should exemplify include the following:
(a) Commitment beyond self.
(b) Obedience and commitment beyond the law.
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09-07-10 Rev 7
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Town Council 114 of 141 Meeting Date: September 20, 2010
DRAFT
(c) Commitment to the public good.
(d) Respect for the value and dignity of all individuals.
(e) Accountability to the public.
(f) Truthfulness.
(g) Fairness.
(h) Responsible application of resources.
(2) In keeping with the values set forth in subsection (1) of this section and to assist in
the fulfillment of responsibilities to the individuals and communities served, each elected
or appointed Town official, appointee or employee should:
(a) Conduct himself and operate with integrity and in a manner that merits the
trust and support of the public.
(b) Uphold all applicable laws and regulations, going beyond the letter of the law
to protect and/or enhance the Town's ability to accomplish its mission.
(c) Treat others with respect, doing for and to others what the Town official,
appointee or employee would have done for and to himself in similar
circumstances.
(d) Be a responsible steward of the taxpayer resources.
(e) Take no actions that could benefit the Town official, appointee or employee
personally at the unwarranted expense of the Town, avoiding even the
appearance of a conflict of interest, and exercise prudence and good judgment at
all times.
(f) Carefully consider the public perception of personal and professional actions
and the effect such actions could have, positively or negatively, on the Town's
reputation both in the community and elsewhere.
(g) Strive for personal and professional growth to improve effectiveness as an
elected or appointed Town official, appointee or employee.
(3) Interpretation. Section 2 is a statement of purpose and principles only. Nothing in this
section may be used to create a cause of action against an elected or appointed Town
official, appointee or employee under this article.
SECTION 3.
DEFINITIONS
Appears Before. A person appears before the Town Council, board or commission
when such person publicly states his name and address, signs a sheet provided for that
purpose, and addresses the Council, board or commission.
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09-07-10 Rev 7
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Town Council 115 of 141 Meeting Date: September 20, 2010
DRAFT
Appointee. Persons appointed or confirmed by the Mayor or Town Council; provided
however for the purposes of this definition, the term “appointee” does not include
Municipal Judges.
Business Entity. Any corporation, partnership, sole proprietorship, firm, enterprise,
franchise, association, organization, self-employed individual, holding company, joint
stock company, receivership, trust, or any legal entity organized for profit.
Business Dealings. Any activity involving the exchange of economic benefits.
Candidate. Every person who declares for or files for any office of the Town to be filled
by election.
Compensation. Any economic benefit received in return for labor, services, property, or
investment.
Economic Benefit. Any money, real or personal property, purchase, sale, lease,
contract, option, credit, loan, discount, service, or other tangible or intangible thing of
value, whether similar or dissimilar to those enumerated.
Employee. Any person employed by the Town whether under civil service regulations or
not, including those individuals on a part-time basis, but such term shall not be extended
to apply to any independent contractor.
Family Member. The spouse, parent or child, and the parents of a spouse of a Town
official, appointee, or Town employee.
Gift. A favor, hospitality, or economic benefit other than compensation but which does
not include campaign contributions reported as required by State law, gifts received from
a relative if given on account of kinship, or any value received by will, intestate
succession, or as a distribution from an inter vivo or testamentary trust established by a
spouse or ancestor.
Identification. For a natural person, the person’s name, street address, city and state;
for any entity other than a natural person, the name, address, city and state of the
entity’s principal location or place of business, the type or nature of the entity, the date
on which it came into existence, the state of incorporation, if any, and the names of the
partners or trustees, if any.
Income. Economic benefit received.
Intentionally. A person acts intentionally, or with intent, with respect to the nature of his
conduct or to a result of his conduct when it is his conscious objective or desire to
engage in the conduct or cause the result.
Knowingly. A person acts knowingly, or with knowledge, with respect to the nature of his
conduct or to circumstances surrounding his conduct when he is aware of the nature of
his conduct or that the circumstances exist. A person acts knowingly, or with knowledge,
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with respect to a result of his conduct when he is aware that his conduct is reasonably
certain to cause the result.
Pecuniary Gain. Any use, benefit or thing of value that can be valued in money.
Source of Income. Any business entity, employment, investment, or activity which
earned or produced income, including interest, dividends, royalties or rents, which has
been paid to or for the credit of a Town official, candidate or family member or which
would be taxable to said Town official, candidate or family member under the United
States Internal Revenue Code, as amended, even though not actually paid or credited.
Substantial Interest. A person has a substantial interest in a business entity if he and/or
a family member (a) owns ten percent (10%) or more of the voting stock or shares of the
business entity; (b) owns ten percent (10%) or more or $15,000 or more of the fair
market value of the business entity; or (c) funds received from the business entity
exceed ten percent (10%) or more of the person’s gross income for the previous year. A
person has a substantial interest in real property if he, his parent or child, or if married
his spouse or his spouse’s parent, controls or has an interest in the property and the
interest has a market value of $2,500.00 or more.
Town Official. The Mayor, every member of the Town Council, candidates, the Town
Manager, the Assistant Town Manager, the Town Attorney, the Town Secretary, Judges
of the Municipal Court, the Police Chief, the Fire Chief, the Finance Director, the
Information Services Director, the Parks and Recreation Director, the Human Resources
Director, the Streets Superintendent, the Planning and Zoning Coordinator and persons
acting in the capacity of the aforementioned Town officials, appointees, or employees.
SECTION 4.
STANDARDS OF CONDUCT
(1) Gifts
No Town official, appointee, or employee shall intentionally or knowingly accept or solicit
any gift, benefit, favor, service or thing of value, such that it might reasonably tend to
influence the judgment or discretion of the Town official, appointee, or employee; or that
the Town official, appointee, or employee knows or should know is being offered with the
reasonable intent to influence the Town official’s, appointee’s, or employee's judgment or
discretion; or given in consideration of the favorable exercise of such employee or
official’s judgment or discretion in the past.
(2) General Provisions
(a) No Town official, appointee, or employee shall intentionally or knowingly
disclose any confidential information gained by reason of said Town official,
appointee, or employee’s position concerning the property, operations, policies or
affairs of the Town, or use such confidential information for the pecuniary gain of
said official, appointee, employee, or others.
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(b) No Town official, appointee, or employee shall use, request, or permit the use
of Town facilities, personnel, equipment, or supplies for private purposes
(including political purposes), except:
(1) pursuant to duly adopted Town policies; or
(2) to the extent and according to the terms that those resources are
generally available to the public.
(c) Except as otherwise specifically authorized by ordinance, no Town official or
appointee shall intentionally or knowingly appear before the body of which the
official is a member while representing himself, or any other person, group,
association, interest, or business entity.
(d) No Town official, appointee or employee shall intentionally or knowingly
represent directly or indirectly any private person, group, or interest other than
himself or a family member before any department, agency, commission or board
of the Town for economic benefit or pecuniary gain.
(e) No Town official, appointee, or employee shall vote on or participate in any
decision making process if the official or employee has a direct financial interest
in the outcome of the matter under consideration. No Town official, appointee, or
employee shall vote on or participate in any decision making process on any
matter concerning real property or a business entity if the Town official,
appointee, or employee has a substantial interest in the business entity or real
property.
(f) No Town official, appointee or employee shall intentionally or knowingly
accept other employment or engage in outside activities incompatible with the full
and proper discharge of official duties and responsibilities, or which would tend to
impair independent judgment in the performance of said official duties.
(g) None of the foregoing shall be construed to prohibit any Town official,
appointee, or employee from representing his interest in his owner occupied
homestead before the Council, board, commission or any department except for
the body of which the official is a member, or the department by which the
employee is employed.
(h) In any action or proceeding in the municipal court of the Town which was
instituted by a Town official, appointee, or employee in the course of official
duties, no Town official shall knowingly represent anyone other than himself or a
family member. If a Council member elects to have a trial in municipal court, the
Town Council, without the participation of the affected council member, shall
appoint a special judge to preside over the trial.
(i) No Town official shall act as a surety for any person or business entity that has
any contract with the Town, or on any bond required by the Town for any Town
official, appointee, or employee.
SECTION 5.
DISCLOSURE OF INTEREST
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(1) If any Town official or appointee has a substantial interest in any real property or
business entity involved in any decision pending before the body of which the Town
official or appointee is a member, the Town official or appointee shall not vote or
otherwise participate in the consideration of the matter.
(2) If any employee has a substantial interest in any real property or business entity
involved in any decision pending before the department by which the employee is
employed, the employee shall not participate in the consideration of the matter.
(3) In the case of a Town official or appointee, the Town official or appointee shall
publicly disclose, verbally or in writing, the nature and extent of such interest to the body
on which the Town official or appointee serves prior to any discussion or determination
of the matter to be considered or immediately upon discovery of the conflict of interest.
The statement of disclosure shall be included in the official minutes of the body.
(4) In the case of an employee, the employee shall disclose such information in writing to
the employee’s supervisor and to the Town Secretary prior to any consideration of the
matter. The Town Secretary shall keep a file of employee statements of disclosure and
said file shall be a public record of the Town.
SECTION 6.
FINANCIAL DISCLOSURE
(1) No later than March 30th of each year, each Town official shall file a sworn financial
disclosure statement (Annex A) with the Town Secretary reflecting the financial situation
of the Town official as of December 31st of the previous year. Notwithstanding any other
term or provision of this Article, as used in this section:
(a) the term “family member” shall include only the Town official, and the spouse
and the minor children of the Town official;
(b) the term “substantial interest” shall include only the interests of the Town
official, the spouse and minor children of the Town official; and
(c) the annual financial disclosure statement shall not include the assets or
property of any person other than those of the Town official, the spouse and
minor children of the Town official.
(2) A newly employed or appointed Town official shall file a sworn financial disclosure
statement with the Town Secretary within thirty (30) days from the date the position with
the Town is assumed. Said statement shall reflect the financial situation as of date of
employment or appointment and for the previous twelve (12) months, provided, however,
such Town official shall not be required to include in such statement the requirements of
paragraphs (4) (f), (g), and (h) of this section.
(3) Each candidate shall file a sworn financial disclosure statement with the Town
Secretary within fifteen (15) days of filing for office, reflecting the financial situation of the
candidate as of December 31st of the year previous to the election date.
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(4) Each person required to file a financial disclosure statement shall do so on a form
supplied by the Town which shall include the following information:
(a) The person’s name, residence address, business address, telephone
number, name of all family members and all names under which the person or
family member does business.
(b) Identification by street address, and legal description of all real property
located within the Town or its extraterritorial jurisdiction in which the person has a
substantial interest.
(c) Identification of each business entity owning property or doing business within
the Town or its extraterritorial jurisdiction in which the person has a substantial
interest.
(d) Identification of each person or business entity, other than a bank, credit
union, or a savings and loan association, to whom the person or family member
owed a debt of ten thousand dollars ($10,000) or more during the reporting
period, but not including debts owed to persons related within the second degree
of consanguinity or affinity, or revolving charge accounts, and excluding loans
from a political campaign which were reported as required by law; if repaid during
the reporting period the date of repayment shall be stated.
(e) Identification of each source of income amounting to ten (10) percent or more
of the person’s or family member’s gross annual income as defined by the United
States Internal Revenue Code.
(f) Identification of the donor of each gift of more than one hundred fifty dollars
($150.00) in value received by the person or family member, including the value
of the gift, where such donor has appeared before and requested action of the
Town Council during the reporting period.
(g) Identification of the donor of two or more gifts of an accumulated value of six
hundred dollars ($600.00) or more received by the person or family member,
where such donor has appeared before and requested action of the Town
Council during the reporting period.
(h) Identification of all individuals or business entities that:
(i) he or a business entity in which he has a substantial interest has had
business dealings involving one or more transactions of five hundred
dollars ($500.00) or more each, for a total of twenty-five hundred dollars
($2,500) or more, and
(ii) have appeared before and requested action of the Town Council
during the reporting period.
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(5) The Town Secretary shall maintain all financial disclosure statements required to be
filed herein as public records and retain them for a period of three (3) years after which
statements shall be returned to the person filing them or be destroyed.
(6) A Town official, appointee, or employee shall immediately and publicly identify either
verbally on the record or in writing, all individuals or business entities that:
(a) he or a business entity in which he has a substantial interest or has had
business dealings involving one or more transactions of five hundred dollars
($500.00) or more each, for a total of twenty-five hundred dollars ($2,500) or
more within the immediately preceding twelve (12) month period, and
(b) appeared before and requested some action of the Town Council, board or
commission of which such reporting person is an advisor or member.
(7) Within thirty (30) days of being appointed to the Planning and Zoning Commission
and on each anniversary of that date, each member of such Commission shall file with
the Town Secretary a sworn statement identifying by street address and legal
description all real property located within the Town or its extraterritorial jurisdiction in
which the member has a substantial interest.
SECTION 7.
ETHICS REVIEW COMMISSION
(1) An Ethics Review Commission (Commission) is hereby established to be composed
of seven (7) members, all of whom shall reside in the Town.
(2) Each Commission member shall be appointed by the Town Council and shall occupy
a position on the Commission, such positions being numbered 1 through 7.
(3) The Commission members shall be appointed to three year staggered terms.
Positions 1 and 2 shall serve an implementation term which shall expire on September
30 of 2011. Positions 3 and 4 shall serve an implementation term which shall expire on
September 30 of 2012. Positions 5, 6, and 7 shall serve an implementation term which
shall expire on September 30 of 2013. After each such implementation term expires, the
term of office for each position shall be three years. No member shall serve for more
than two (2) consecutive full terms. Implementation terms shall not be counted as full
terms.
(4) All vacancies shall be filled for the unexpired term. A member shall hold office until
his successor has been appointed by the Town Council and shall continue to hold office
after his successor has been appointed by the Town Council for the limited purpose of
the disposition of all complaints filed during that member's term. No member may
participate in a decision regarding a complaint initiated prior to the expiration of the
previous member’s term, but new members shall assume the duties of office with
respect to all complainants initiated after the previous member's term.
(5) The Commission shall elect a chairman and a vice-chairman to one (1) year terms.
The vice-chairman shall act as chairman in the absence of the chairman.
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(6) Four (4) or more members of the Commission shall constitute a quorum, but no
action of the Commission shall be of any force or effect unless it is adopted by the
favorable vote of four (4) or more members.
(7) The Commission shall meet at least once a year to review this article and may make
recommendations to the Town Council for amendments hereto.
(8) The Commission shall render advisory opinions on potential conflicts of interest or
violation of this article at the request of a Town official, member of a Town board or
commission, or employee subject to the terms of this article. Such advisory opinion shall
be rendered within a reasonable time, but in no event later than thirty (30) days after a
request is received by the Commission.
(9) It shall be a defense to an alleged violation of this article that the person accused
previously requested an advisory opinion of the Commission and acted on such opinion
in good faith, unless material facts were omitted or misstated by the person requesting
the opinion. Such advisory opinion shall also be binding on the Commission in any
subsequent charges concerning the person requesting the opinion.
(10) Independent legal counsel shall be utilized to advise the Commission and
participate in hearings. The Town Council shall annually designate and retain
independent counsel who shall be a duly licensed attorney in the State of Texas.
(11) The Commission shall have jurisdiction to review and make findings concerning any
alleged violation of this article by any person subject to those provisions, if a complaint is
filed within one year after the date of the alleged violation. The Commission may not
consider any alleged violation that occurred before July 1, 2010 or more than one year
before the date of the filing of a complaint.
SECTION 8.
DISPOSITION OF ALLEGED VIOLATIONS
(1) A sworn complaint based on personal knowledge alleging a violation (s) of this article
shall specify the provision (s) of this article alleged to have been violated, and shall
name the Town official, candidate, appointee, or employee being charged.
THE STATE OF TEXAS:
COUNTY OF DENTON:
TO: THE ETHICS REVIEW COMMISSION
OF THE TOWN OF TROPHY CLUB, TEXAS:
COMES NOW (complainant), and makes this complaint, UPON HIS/HER PERSONAL
KNOWLEDGE AND UNDER OATH against (name of person complained against), and
would show the Commission that: On or about the _______ day of ________________,
___,(insert date of the action, or omission, complained of)
_____________________________________________, (name of person complained
against) a/an (insert appropriate designation; Town official, candidate, appointee,
employee, board or commission member) of the Town of Trophy Club, Texas, violated
the following provision(s) of Code of Ethics and Conduct Ordinance, Town of Trophy
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Club, Texas, to wit: (Specify by Section, Subsection and Paragraph number the
provision(s) alleged violated.) by committing the following act, or omission, to wit:
______________________________________________________________________
______________________________________________________________________
______________________________________________________________________
______________________________________________________________________
(Describe above, the action, or omission, alleged to violate each Code provision cited.
You may attach additional pages if more space is required.)
(2) Upon the aforesaid sworn complaint of any person being filed with the Town
Secretary’s office, or on its own initiative, the Commission shall consider possible
violations of this article by Town officials, candidates, appointees and employees. A
complaint shall not be deemed to be filed on the initiative of the Commission save and
except the complaint be signed and sworn to by two (2) members of the Commission,
one of which is the Chairman of the Commission, after consultation with the legal
counsel of the Commission. A complaint filed by an individual member of the
Commission shall be deemed to have been filed in the Commission member’s
capacity as a private citizen and, in such event, the member of the Commission filing the
complaint shall not thereafter participate in a Commission meeting at which such
complaint is considered save and except that the Commissioner filing the complaint may
participate as a complainant at such meeting.
(3) A complaint alleging a violation of this article must be filed with the Town Secretary
within one (1) year from the commission of the action alleged as a violation, and not
afterward.
(4) The Town Secretary shall, in writing, advise the person filing the complaint that
falsely accusing someone of a violation of this article may result in criminal prosecution
of anyone who knowingly makes a false accusation. The Town Secretary shall, in
writing, advise the person charged in the complaint that falsely responding to a
complaint may result in criminal prosecution of anyone who knowingly makes a false
response.
(5) Not later than three (3) working days after the Town Secretary receives a sworn
complaint, the Town Secretary shall acknowledge the receipt of the complaint to the
complainant, and provide a copy of the complaint to the Town Attorney, the independent
counsel, the Commission and the person complained against. Not later than ten (10)
working days after receipt of a complaint, the Commission shall notify in writing the
person who made the complaint and the person complained against of a date for a
preliminary hearing. If the Commission does not hold a preliminary hearing within twenty
(20) working days of receipt of the complaint, it shall notify the person who made the
complaint of the reasons for the delay and shall subsequently give him the appropriate
notification.
(6) The Commission may consider possible violations of this article on its own initiative.
Within seven (7) days of the Commission’s decision to consider a possible violation of
this article, the Commission shall draft a written complaint specifying the provision(s) of
this article alleged to have been violated and shall file a copy with the Town Secretary,
and provide a copy to the Town Attorney, the independent counsel, and the person
complained against. Not later than fifteen (15) days after the drafting of the complaint,
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the Commission shall notify in writing the person complained against of the date for the
preliminary hearing.
(7) After a complaint has been filed and during the pendency of a complaint before the
Commission, a member of the Commission may not communicate directly or indirectly
with any party or person about any issue of fact or law regarding the complaint, except at
a meeting of the Commission; provided that a member may consult with the attorney or
the staff liaison for the Commission as to process, procedure and legal issues.
(8) No Town official, appointee, or employee shall reveal information relating to the filing
or processing of a complaint, except as required for the performance of official duties or
as required by law. Ex parte communications by or to members of the Commission are
prohibited. All papers and communications relating to a complaint must be treated as
confidential unless required to be made public under the Public Information Act of the
Texas Government Code or other applicable law.
(9) As soon as reasonably possible, but in no event more than sixty (60) days after
receiving a complaint, the Commission shall conduct a preliminary hearing.
(a) The issue at a preliminary hearing shall be the existence of reasonable
grounds to believe that a violation of this article has occurred. The person filing a
complaint, or the independent counsel in cases considered upon the
Commission’s own initiative, shall state the alleged violation and shall describe in
narrative form the testimony and other evidence which would be presented to
prove the alleged violation as stated in the written complaint. Statements at a
preliminary hearing shall be under oath, but there shall be no cross examination
or requests for persons or evidence issued for the hearing. Members of the
Commission may question the complainant, the independent counsel for the
Commission, or the Town official, appointee or employee named in the
complaint.
(b) The Town official, appointee or employee named in the complaint shall have
the opportunity to respond, but is not required to attend or make any statement.
The Town official, appointee or employee may describe in narrative form the
testimony and other evidence which would be presented to disprove the alleged
violation. If the Town official, appointee or employee agrees that a violation has
occurred, he may so state and the Commission may consider the appropriate
sanction.
(c) The complainant and the Town official, appointee or employee named in the
complaint shall have the right of representation by counsel.
(d) At the conclusion of the preliminary hearing, the Commission shall decide
whether a final hearing should be held; provided the Commission may proceed to
determine the appropriate sanction if the charged Town official, appointee, or
employee does not object and admits the charged violation, and the Commission
determines that there are no fact issues to be resolved. If the Commission
determines that there are reasonable grounds to believe that a violation of this
article has occurred, it shall schedule a final hearing. If the Commission does not
determine that there are reasonable grounds to believe that a violation of this
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article has occurred, the complaint shall be automatically dismissed. A decision
to conduct a final hearing is not a finding that a violation has occurred.
(e) The Commission, at any time during the preliminary hearing, may also
dismiss a complaint if the complaint does not allege conduct which would be a
violation of this article. Before a complaint is dismissed for failure to allege a
violation, the complainant shall be permitted one opportunity, within ten (10) days
of such preliminary hearing, to revise and resubmit the complaint.
(f) The complainant, the independent counsel, and the Town official, appointee or
employee named in the complaint may ask the Commission at a preliminary
hearing to request certain persons and evidence for a final hearing, if one is
scheduled.
(10) Final Hearing
(a) The final hearing shall be held as expeditiously as possible following the
determination by the Commission that there are reasonable grounds to believe
that a violation of this article has occurred, but in no event shall it be held more
than thirty (30) days after said determination. The Commission may grant two (2)
postponements, not to exceed fifteen (15) days each, upon the request of the
Town official, appointee or employee named in the complaint.
(b) The issue at a final hearing shall be whether a violation of this article has
occurred. The Commission shall make its determination based on clear and
convincing evidence in the record. All witnesses shall make their statements
under oath. If the Commission determines that a violation has occurred, it shall
state its findings in writing, shall identify the particular provision(s) of this article
which have been violated, and within five (5) working days shall deliver a copy of
the findings to the complainant, if any, the person named in the complaint and
the Town Secretary.
(c) If a complaint proceeds to a final hearing, the Commission may request and
subpoena witnesses to attend and testify, administer oaths and affirmations, take
evidence and request the production of books, papers, records, or other
evidence needed for the performance of the Commission's duties or exercise of
its powers, including its duties and powers of investigation. It shall be a violation
of this article for a person to fail to appear and testify before the Commission in
response to a request made in writing ten days or more prior to the scheduled
time and date of the notice or request to appear.
(11) Sanctions
(a) If the Commission determines that a violation of this article has occurred, it
shall proceed directly to determination of the appropriate sanction(s). A violation
of this article shall not be subject to criminal penalties under the Town Code,
except for the two instances specifically provided for in this article Section 8
(10)(c) and Section 11. The Commission may receive additional testimony or
statements before considering sanctions, but is not required to do so. If the Town
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official, appointee or employee named in the complaint acted in reliance upon a
written opinion of the Town Attorney, the Commission shall consider that fact.
(b) If the Commission determines that a violation of this article has occurred, it
shall take the following actions:
(1) If the complaint involved a current employee under the jurisdiction of
the Town Manager, the matter will be referred to the Town Manager.
(2) If the complaint involved the Town Manager, Town Attorney, Town
Secretary, or a Judge of the Municipal Court, the matter will be referred to
the Town Council.
(3) If the complaint involved a Town Council member, a board or
commission member, an appointee, a former Town official, or a former
Town employee, the matter will be referred to the Town Council.
(c) When referring a matter under Subsection (b), the Commission may impose
or recommend the following sanctions:
(1) Letter of notification. A letter of notification may be recommended
when the commission finds that a violation of this article was clearly
unintentional or when the action or conduct found to have been a violation
of this article was performed by the Town official, appointee, or employee
in reliance on a public written opinion of the Town Attorney. A letter of
notification must advise the Town official, appointee, or employee to
whom the letter is directed of any steps to be taken to avoid future
violations.
(2) Letter of admonition. A letter of admonition may be recommended
when the commission finds that the violation of this article was minor
and/or may have been unintentional, but where the circumstances call for
a more substantial response than a letter of notification.
(3) Reprimand. A reprimand may be recommended when the commission
finds that a violation of this article was committed intentionally or through
disregard of this article. A reprimand directed to an employee shall be
included in said employee’s personnel file. The Town Manager may also
elect to discipline the employee in accordance with Town personnel rules
and procedures. A letter of reprimand directed to an elected Town official
shall also be transmitted to the Town Secretary and published in the
official newspaper of the Town.
(4) Removal or suspension from employment. A recommendation of
removal from employment or a recommendation of suspension from
employment, as well as a recommendation for length of suspension, shall
be the appropriate sanction when the Commission finds that a serious or
repeated violation(s) of this article has been committed intentionally or
through culpable disregard of this article by Town employees. The final
authority to carry out such recommendations to suspend from
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employment and the length of suspension shall be with the Town
Manager. The Town Manager may also elect to discipline the employee
in accordance with Town personnel rules and procedures.
(5) Censure, recall or removal from office or appointment. A letter of
censure, a recommendation of recall, or a recommendation to institute
proceedings for removal from office or appointment, shall be the
appropriate sanction when the Commission finds that a serious or
repeated violation(s) of this article has been committed intentionally or
through culpable disregard of this article by an elected Town official. A
letter of censure, a recommendation of recall, or a recommendation to
institute proceedings for removal from office, directed to an elected Town
official shall also be transmitted to the Town Secretary and published in
the official newspaper of the Town. The Town Council and citizens of the
Town may take actions in accordance with the Town Charter. Any
proceedings for removal from office shall be in compliance with provisions
of the Town Charter and State law.
(12) Dismissal. If the complaint is dismissed because the evidence failed to establish a
violation of this article, the Commission shall not entertain any other similar complaint
based on substantially the same evidence.
SECTION 9.
PETITION FOR DECLARATORY RULING.
Any Town official or employee against whom public allegations of ethics violations have
been made in the media or elsewhere has the right to file a sworn statement with the
Town Secretary affirming their innocence, and to request the Commission to review the
allegations and make known its findings.
SECTION 10.
CULPABLE MENTAL STATE.
To commit a violation under any provision of this article, a person must have acted or
failed to act knowingly or with knowledge.
SECTION 11.
FALSE COMPLAINTS
In the event a complaint is received by the Commission that is subsequently found to be
baseless, and the Commission deems that the complaint was filed with the intent to:
(a) harass the person named in the complaint; or
(b) damage any person's reputation; or
(c) benefit the person filing the complaint, or a third party, either personally,
professionally or politically; or
(d) damage a related third party;
the Commission may recommend the Town Attorney cause a complaint to be filed
against such person in the municipal court or, as appropriate, a higher court of this state;
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the Town Council or Town Manager, as appropriate, may take disciplinary action(s)
against the individual who filed the complaint, including but not limited to disciplinary
action if such complainant is a Town employee or appointed officer or official of the
Town; and/or the filing of a civil action to recover the costs, fees, charges and expenses
incurred by the Town and person named in the complaint with respect to such complaint.
The Commission may also recommend other action(s) that should be taken.
SECTION 12.
PENALTIES
(1) Any person who shall violate Section 8 (10) (c) or Section 11 of this article shall be
deemed guilty of an offense and shall be liable for a fine not to exceed the sum of
$500.00. Each day the violation exists shall constitute a separate offense. Such penalty
shall be in addition to all the other remedies provided herein.
(2) Any person who knowingly files a false sworn statement under this article is subject
to criminal prosecution for perjury under the laws of the State of Texas.
SECTION 13.
CODE OF ORDINANCES.
The Code of Ordinances of the Town is hereby amended to include the terms
and provisions of this Ordinance. All ordinances, parts of ordinances and the Code of
Ordinances in conflict herewith are hereby amended to the extent of such conflict only.
If a provision of this Ordinance and any other ordinance shall conflict, the terms of this
Ordinance shall govern and control and the other ordinance or Code provision shall be
read and construed in a manner consistent with the intent and provisions of this
Ordinance.
SECTION 14.
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 15.
EFFECTIVE DATE.
This Ordinance shall take effect immediately from and after its passage and
publication in accordance with the provisions of the Texas Local Government Code, and
it is accordingly so ordained.
PASSED AND APPROVED by the Town Council of the Town of Trophy Club,
Texas, this XXX day of XXXXXX, 2010.
Mayor, Connie White
Town of Trophy Club, Texas
[SEAL]
ATTEST:
Town Council 128 of 141 Meeting Date: September 20, 2010
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TOWN OF TROPHY CLUB
FINANCIAL DISCLOSURE STATEMENT
(Code of Ethics and Conduct Ordinance 2010 -___ Annex A)
[For the year ending ________ ___, 20 _____]
Town Officials are required to complete this statement no later than March 30th of each year. This
statement is required by the Code of Ethics and Conduct Ordinance of the Town of Trophy Club.
Please refer to the Ordinance for specific requirements and the definition of terms. Where additional
space is required, please attach separate pages. Please fill in all items. If a requested item does not
apply, please write "N/A".
The Town Secretary shall maintain all financial disclosure statements required to be filed as public
records and retain them for a period of three (3) years after which statements shall be returned to the
person filing them or be destroyed.
Name: _______________________________________ Telephone number: ________________
Residence address: Business address:
____________________________________ _______________________________________
____________________________________ _______________________________________
Name(s) of Town official’s spouse and minor children:
______________________________________________________________________
All names under which the Town official, spouse and minor children of the Town official do business:
______________________________________________________________________
A. Identify by street address, and legal description all real property located within the Town or its
extraterritorial jurisdiction in which the person filing has a substantial interest.
B. Identify each business entity owning property or doing business within the Town or its
extraterritorial jurisdiction in which the person filing has a substantial interest.
C. Identify each person or business entity, other than a bank, credit union, or a savings and loan
association, to whom the person filing or family member owed a debt of ten thousand dollars
($10,000) or more during the reporting period. If the debt is repaid during the reporting period the
Town Council 129 of 141 Meeting Date: September 20, 2010
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date of repayment shall be stated. Do not including debts owed to persons related within the second
degree of consanguinity or affinity, revolving charge accounts, or loans from a political campaign
which were reported as required by law. Do not state the amount of debts.
D. Identify each source of income amounting to ten (10) percent or more of the person filing or family
member’s gross annual income as defined by the United States Internal Revenue Code. Do not state
the amounts of income.
E. Identify the donor of each gift of more than one hundred fifty dollars ($150.00) in value received by
the person filing or family member, including the value of the gift, where such donor has appeared
before and requested action of the Town Council during the reporting period. Do not include
campaign contributions reported as required by State law.
F. Identify the donor of two or more gifts of an accumulated value of six hundred dollars ($600.00) or
more received by the person filing or family member, where such donor has appeared before and
requested action of the Town Council during the reporting period. Do not include campaign
contributions reported as required by State law.
G. Identify all individuals or business entities that: (1) the person filing or a business entity in which
he has a substantial interest has had business dealings involving one or more transactions of five
hundred dollars ($500.00) or more each, for a total of twenty-five hundred dollars ($2,500) or more,
and (2) have appeared before and requested action of the Town Council during the reporting period.
By: _______________________________________________________ Signature
Name: _____________________________________________________Type or Print
STATE OF TEXAS §
COUNTY OF DENTON §
BEFORE ME, the undersigned Notary Public, on this day personally appeared __________, as
affiant, known to me, and after being duly sworn by me, stated on his/her oath that the foregoing and
annexed Financial Disclosure Statement is within the knowledge of affiant and is true and correct.
Notary Public-State of Texas
Town Council 130 of 141 Meeting Date: September 20, 2010
TOWN OF TROPHY CLUB, TEXAS
ORDINANCE NO. 2010-XX
AN ORDINANCE OF THE TOWN OF TROPHY CLUB, TEXAS,
AMENDING THE CODE OF ORDINANCES OF THE TOWN OF TROPHY
CLUB BY ADDING ARTICLE XVI ENTITLED “ETHICS” TO CHAPTER 1
ENTITLED “ADMINISTRATION” OF THE CODE OF ORDINANCES;
PROVIDING FOR THE INCORPORATION OF PREMISES; PROVIDING
FOR AN AMENDMENT ADOPTING APPLICABLE CONFLICT OF
INTEREST PROVISIONS IN TEXAS STATE LAW; ESTABLISHING AN
ETHICS COMMISSION AND A COMPLAINT PROCESS; PROVIDING A
CUMULATIVE REPEALER CLAUSE; PROVIDING FOR
SEVERABILITY; PROVIDING FOR ENGROSSMENT AND
ENROLLMENT; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the Town of Trophy Club, Texas is a home rule city acting under its
charter adopted by the electorate pursuant to Article XI, Section 5 of the Texas
Constitution and Chapter 9 of the Local Government Code; and
WHEREAS, statutory provisions governing the ethical conduct of public officials
and employees are found in various codes including the Texas Local Government
Code, Texas Government Code and the Texas Penal Code; and
WHEREAS, the conduct of the public business should be accomplished by Town
officials that have no personal financial interest in such business clearly separate from
that of the general public;
WHEREAS, Section 11.14 of the Town Charter requires the adoption of a code
of ethics via ordinance that is applicable to elected officers, appointed board,
commission, and committee members, and employees of the Town; and
WHEREAS, Section 11.14 of the Town Charter also requires the establishment
by ordinance of an independent Ethics Commission to administer and enforce the Code
of Ethics and Conduct ordinance and mandates certain requirements for service on the
Ethics Commission; and
WHEREAS, a reasonable ethics ordinance will provide a basis for continuing
public confidence in the conduct of the business and affairs of the Town; and
WHEREAS, based upon the Town’s history and experience, Council has
determined that a reasonable ethics ordinance is one that is consistent with the legal
requirements set forth by the Texas legislature for municipalities with the same or
similar population number as the Town of Trophy Club and that applies equally to public
officials, appointees, and employees.
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE
TOWN OF TROPHY CLUB, TEXAS, THAT:
Section 1.
Incorporation Of Premises
The above and foregoing premises are true and correct and are incorporated
herein and made a part hereof for all purposes.
Section 2.
Amendment – Adoption Of Article XVI Of Chapter 1
Town Council 131 of 141 Meeting Date: September 20, 2010
2.01 Article XVI entitled “Ethics” of Chapter 1, entitled “Administration” of the Code of
Ordinances of the Town of Trophy Club is hereby adopted and shall read in its entirety
as follows:
“SECTION 16.01. POLICY – APPLICABILITY.
It is the policy of the Town that the proper operation of democratic
government requires that Town officials be independent, impartial and
responsible to the people; that governmental decisions and policy be made in
proper channels of the governmental structure; that no officer or member of
any advisory board, commission or committee should have any interest,
financial or otherwise, direct or indirect, or engage in any business, transaction
or professional activity or incur any obligation of any nature which is in conflict
with the proper discharge of his or her duties in the public interest; that the
public have confidence in the integrity of its government.
The provisions of this Article shall not apply to political contributions,
loans, expenditures, reports or regulation of political campaigns, or the
conduct of candidates in such campaigns, except as expressly required by
state law.
SECTION 16.02. DEFINITIONS.
The following words, terms and phrases, when used in this Ordinance,
shall have the meanings ascribed to them in this section, except where the
context clearly indicates a different meaning.
A. Employee. All persons employed by the Town of Trophy Club, including
full time, part time, seasonal and temporary employees.
B. Town Official or Officer. The Mayor, each member of the Town Council,
the Town Manager, Town Secretary, the Town Attorney and each member of a
Town Board, Commission, Committee, or Advisory Group appointed by the
Council.
SECTION 16.03. CONFLICT OF INTEREST AND ETHICS
Town Officials and Employees shall abide by the conflict of interest and
ethics provisions of the laws of the State of Texas regulating home rule
municipalities that are of same or similar population number as the Town of
Trophy Club.
SECTION 16.04. ETHICS COMMISSION ESTABLISHED.
A. Commission Established. There is hereby established an Ethics
Commission to administer and enforce the Code of Ethics and Conduct
Ordinance codified in this Article. Commission members shall be registered
voters who are residents of the Town of Trophy Club. No member of the
Commission may hold elective or appointed office under the Town or any other
government or hold any political party office. Commission members shall be
appointed by majority vote of the Town Council, and serve at the pleasure of
the Council, and may be removed by a majority vote of the Town Council.
B. Number and Term of Office. The Commission shall consist of ___
(___) members and ___ (___) alternates who shall serve a one (1) year term
each and ___ members and ___ (___) alternates who shall serve two (2) year
terms each.
SECTION 16.05. COMPLAINT PROCESS.
A. Original Complaints. The Commission shall have the authority to hear
Ordinance 2010-XX
(File ID 2010-481)
2
Town Council 132 of 141 Meeting Date: September 20, 2010
written complaints alleging violations of any and all state conflict of interest and
ethics laws as identified in Section 16.03 of this Article.
B. Charges. In order to be considered, a complaint shall be submitted to the
Town Secretary in writing and shall be sworn to by the person filing the
complaint. A sworn complaint shall be based on the personal knowledge of
the affiant alleging a violation(s) of this Article and shall specify the provision(s)
of state law applicable under Section 16.03 alleged to have been violated, and
shall name the Town Official or Employee being charged.
C. Complaints Timely. A complaint alleging a violation of this Article must be
filed with the Town Secretary within six (6) months from the date of the act
alleged as a violation in order to be considered by the Commission.
Complaints not filed within such six (6) month period shall not be considered.
D. Due Process. The Ethics Commission shall comply with all requirements
of the Texas Open Meetings Act, including without limitation, posting and
notice requirements. A person against whom a complaint is filed shall be
afforded due process, including hearing and at least fourteen (14) days prior
written notice of any proceeding conducted by the Ethics Commission. The
person who is the subject of a complaint shall be notified in writing within five
(5) business days of the filing of a complaint with the Town Secretary.”
Section 3.
Cumulative Repealer
The Code of Ordinances of the Town is hereby amended to include the terms
and provisions of this Ordinance by adding Article XVI entitled “Ethics” to the existing
Chapter 1, entitled “Administration” of the Code of Ordinances of the Town of Trophy
Club. This Ordinance shall be cumulative of all other Ordinances of the Town affecting
ethics and conflict of interest and shall not repeal any of the provisions of such
Ordinances except in those instances where provisions of those Ordinances are in
direct conflict with the provisions of this Ordinance; whether such Ordinances are
codified or uncodified, and all other provisions of the Ordinances of the Town of Trophy
Club, codified or uncodified, not in conflict with the provisions of this Ordinance, shall
remain in full force and effect. Notwithstanding the foregoing, any complaint, action,
cause of action or claim which prior to the effective date of this Ordinance has been
initiated or has arisen under or pursuant to such repealed Ordinance(s) shall continue to
be governed by the provisions of that Ordinance and for that purpose the Ordinance
shall be deemed to remain and continue in full force and effect.
Section 4.
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 5.
Engrossment and Enrollment
The Town Secretary of the Town of Trophy Club is hereby directed to engross and
enroll this Ordinance by copying the exact Caption and Effective Date clause in the
minutes of the Town Council of the Town of Trophy Club and by filing this Ordinance in
the Ordinance records of the Town and by amending the Code of Ordinances to reflect
the changes adopted herein by Council.
Ordinance 2010-XX
(File ID 2010-481)
3
Town Council 133 of 141 Meeting Date: September 20, 2010
Ordinance 2010-XX
(File ID 2010-481)
4
Section 6.
Effective Date
This Ordinance shall take effect immediately from and after its passage and publication
in accordance with the provisions of the Texas Local Government Code, and it is
accordingly so ordained.
PASSED AND APPROVED by the Town Council of the Town of Trophy Club, Texas,
this 20th day of September, 2010.
_______________________________
Mayor Connie White
Town of Trophy Club, Texas
ATTEST:
_________________________________________
Town Secretary
Town of Trophy Club, Texas
[SEAL]
APPROVED AS TO FORM:
_________________________________________
Town Attorney
Town of Trophy Club, Texas
Town Council 134 of 141 Meeting Date: September 20, 2010
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12010-503-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:9/14/2010 Town Council
On agenda:Final action:9/20/2010
Title:Items for Future Agendas.
Attachments:Items for Future Agendas.pdf
Action ByDate Action ResultVer.
Town Council 135 of 141 Meeting Date: September 20, 2010
File #: 2010-503-T, Version: 1
Title
Items for Future Agendas.
Body
Goal #6: A vibrant, inclusive community with involved, caring residents
Provide superior customer services
Foster a well informed community
Town Council 136 of 141 Meeting Date: September 20, 2010
1. Item to receive a report from Acting Town Manager regarding an update on the
Comprehensive Land Plan. (Edstrom - 10/20/08 & Strother 10/19/09)
2. Consider and take appropriate action regarding the creation of a Citizen’s Financial
Budget Board. (Rose 12/7/09)
3. Consider and take appropriate action regarding an Ordinance amending Chapter 3 of
the Code of Ordinances entitled "Buildings and Construction" of Article XV, entitled
"Swimming Pools. (Rose 2/1/10)
4. Consider and take appropriate action regarding procurement policies and their
alignment with State statutes. (Rose 2/1/10)
5. Consider and take appropriate action regarding placing policies and procedures
access on the Town web site. (Rose 2/1/10)
6. Consider and take appropriate action regarding noise regulations for Oil and Gas Well
Drilling and Production (Rose 4/26/10)
7. Staff update regarding the Amenity Lake; discussion and action of the same. (Stotts
6/7/10)
8. Staff update regarding Marshall Branch Creek area located North of HWY114;
discussion and action of the same. (Stotts 6/21/10)
9. Staff update regarding the loop road and a report from the engineer firm hired by the
County. (Stotts 6/21/10)
Town Council 137 of 141 Meeting Date: September 20, 2010
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12010-502-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:9/14/2010 Town Council
On agenda:Final action:9/20/2010
Title:Receive Mayor Pro Tem Rose's liaison report regarding the September 14, 2010 TCMUD1 Meeting;
discussion of same.
A) Discuss and take appropriate action regarding the September 9, 2010 Joint Session with TCMUD1.
Attachments:
Action ByDate Action ResultVer.
Town Council 138 of 141 Meeting Date: September 20, 2010
File #: 2010-502-T, Version: 1
Title
Receive Mayor Pro Tem Rose's liaison report regarding the September 14, 2010 TCMUD1 Meeting; discussion of same.
A) Discuss and take appropriate action regarding the September 9, 2010 Joint Session with TCMUD1.
Body
Tax Rates and Rate Order
Trinity Well
Water Tank Group
Goal # 3: Community with shared vision
Forge collaborative relationships with other governmental/public entities
Create a positive regional identity
Goal #6: A vibrant, inclusive community with involved, caring residents
Provide superior customer services
Foster a well informed community
Town Council 139 of 141 Meeting Date: September 20, 2010
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12010-501-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:9/14/2010 Town Council
On agenda:Final action:9/20/2010
Title:Mayor and Council Updates regarding training opportunities, educational sessions, and regional
meetings; discussion of same.
Attachments:
Action ByDate Action ResultVer.
Town Council 140 of 141 Meeting Date: September 20, 2010
File #: 2010-501-T, Version: 1
Title
Mayor and Council Updates regarding training opportunities, educational sessions, and regional meetings; discussion of
same.
Body
Walking with the Mayor
Metroport Cities Partnership
Final 25th Anniversary Committee Meeting
Mayors’ Roundtable Dinner
NISD Education Foundation - Annual Drive Kick-off Luncheon
Reception and Interviews for Town Manager
Goal # 3: Community with shared vision
Forge collaborative relationships with other governmental/public entities
Create a positive regional identity
Goal #6: A vibrant, inclusive community with involved, caring residents
Provide superior customer services
Foster a well informed community
Town Council 141 of 141 Meeting Date: September 20, 2010