RES 2007-10TOWN OF TROPHY CLUB
RESOLUTION NO. 2007 -1 0
A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF
TROPHY CLUB, TEXAS DETERMINING THE TOTAL COST OF THE
TOWN OF TROPHY CLUB PUBLIC IMPROVEMENT DISTRICT NO. 1
(THE HIGHLANDS AT TROPHY CLUB) IMPROVEMENTS AS
IDENTIFIED IN EXHIBIT "A", LIST OF PUBLIC IMPROVEMENTS;
PREPARING A PROPOSED ASSESSMENT ROLL; DIRECTING THE
FILING OF THE PROPOSED ASSESSMENT ROLL WITH THE TOWN
SECRETARY; CALLING A PUBLIC HEARING TO CONSIDER
PROPOSED ASSESSMENTS; DIRECTING THE TOWN STAFF TO
PUBLISH NOTICE OF THE PUBLIC HEARING; DIRECTING TOWN
STAFF TO MAIL NOTICE OF THE PUBLIC HEARING TO PROPERTY
OWNERS; PROVIDING AN EFFECTIVE DATE AND RESERVING THE
RIGHT OF RESCISSION BY THE TOWN.
WHEREAS, on May 7, 2007, the governing body (the "Town Council") of the
Town of Trophy Club, Texas (the "Town") conducted a public hearing to consider the
"Petition Requesting the Establishment of the Town of Trophy Club Public Improvement
District No. 1 l1 (as subsequently authorized by resolution, the "District"); and
WHEREAS, the Town, by Resolution No. 2007-08 (the "Authorization
Resolution"), authorized and created the District and authorized certain categories of
public improvement projects that are authorized by Chapter 372, Texas Local
Government Code (the "Act") including, but not limited to, landscaping, entryway
features, a development signature monument, water, wastewater, roadway, or drainage
system improvements, trails, parks and open space, as identified in Exhibit "A, List of
Public Improvements, a copy of which is attached hereto and incorporated herein, and
special supplemental services (such as emergency services and the operation and
maintenance of the public improvement projects) (collectively, the "Authorized
Improvements"); and
WHEREAS, the Authorization Resolution includes findings by the Town Council
as required by the Act, including a finding as to the proposed method of assessment
chosen by the Town; and
WHEREAS, the Act requires that the Town Council determine the total cost of
the Authorized Improvements; and
WHEREAS, after the total cost of the Authorized Improvements has been
determined, the Act requires the Town Council to prepare a proposed assessment roll
(the "Proposed Assessment Roll"); and
WHEREAS, the Act requires that the Proposed Assessment Roll state the
assessment against each parcel of land in the District as determined by the method of
assessment chosen by the Town; and
WHEREAS, the Act requires that the Proposed Assessment Roll be filed with
the Town Secretary of the Town (the "Town Secretary") and be subject to public
inspection; and
WHEREAS, the Act requires that a public hearing (the "Assessment Hearing")
be called to consider proposed assessments and at, or on the adjournment of, the
Assessment Hearing, to hear and pass on any objections to proposed assessments;
and
WHEREAS, the Act requires that notice of the Assessment Hearing be
published and mailed to property owners.
NOW THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE
TOWN OF TROPHY CLUB, TEXAS AS FOLLOWS:
SECTION I. THAT the recitals set forth in this Resolution are true and correct
and are hereby adopted as findings of the Town Council.
SECTION 2. THAT subject to the other provisions of this Resolution and based
upon the proposed projects and associated costs listed in Exhibit "A, the Town Council
hereby determines that the total cost of the Authorized Improvements is
$29,031,816.00, plus the annual costs of certain supplemental services, which for
calendar year 2007 will be an amount determined and approved at a later date.
SECTION 3. THAT the Town Council's final determination and approval of the
costs of the Authorized Improvements and any portion thereof, shall each be subject to
and contingent upon Town Council approval of the Service and Assessment Plan and
Assessment Roll, after notice and hearing, and based upon Town Council's exercise of
due diligence.
SECTION 4. THAT the Town Council shall prepare the Proposed Assessment
Roll stating the assessment against each parcel of land in the District as determined by
the method of assessment chosen by the Town in the Authorization Resolution.
SECTlON5. THAT the Town Council shall file the Proposed Assessment Roll
with the Town Secretary, which Proposed Assessment Roll shall be available for public
inspection.
SECTION 6. THAT the Town Council hereby authorizes and calls a public
hearing to be held on June 18, 2007 (in compliance with Section 372.016 of the Act) at,
or upon the adjournment of, which public hearing the Town Council shall, among other
actions, hear and pass on any objections to the proposed assessments; and, upon the
adjournment of which public hearing, the Town Council by ordinance or order shall levy
the assessments as special assessments on property within the District (which
ordinance or order shall specify the method of payment of the assessments).
SECTION 7. THAT, when the Proposed Assessment Roll is filed with the Town
Secretary, the Town Council hereby directs Town staff to publish notice of the public
hearing (in compliance with Section 372.016 of the Act) in the Trophy Club Times
before the 10th day before June 18, 2007.
SECTION 8. THAT, when the Proposed Assessment Roll is filed with the Town
Secretary, the Town Council hereby directs Town staff to mail to owners of property
liable for assessment notice of the public hearing (in compliance with Section 372.016
of the Act).
SECTION 9. THAT Town Staff is directed to take such other actions as are
required (including, but not limited to, notice of the public hearing as required by the
Texas Open Meetings Act) to place the public hearing on the agenda for the June 18,
2007 meeting of the Town Council.
SECTION 10. THAT this Resolution shall take effect immediately on the date it is
passed and approved by the Town Council; however, this Resolution is subject to
rescission by the Town Council at any time prior to the approval of the service and
assessment plan and/or the assessment roll.
SECTION 11. THAT the Town has within its legislative authority the right to
rescind this Resolution based upon future review of information related to the
Authorized Improvements, and that no liability shall result for the Town in its exercise of
such legislative authority and for which the Town shall bear no costs of any kind or
nature.
PASSED AND APPROVED on this the 21" day of May, 2007.
ATTEST: THE TOWN OF TROPHY CLUB, TEXAS
APPROVED AS TO FORM:
EXHIBIT A
List of Improvements
THOROUGHFARE
1. IMPROVEMENTS
MARSHALL CREEK ROAD WEST
IMPROVEMENTS
LAND ACQUISITION (APPROX. 2.612
ACRES)
PROJEC'
COST
SUB - TOTAL MARSHALL CREEK
RD WEST IMPROVEMENTS: $930,729
TROPHY CLUB DRIVE - SOUTH OF MARSHALL CREEK WEST
IMPROVEMENTS $1,295,71 E
LAND ACQUISITION (APPROX. 6.71 1
ACRES)
TROPHY CLUB DRIVE
IMPROVEMENTS
SUB - TOTAL TROPHY CLUB
DRIVE SOUTH
IMPROVEMENTS: $1,784,287
LAND ACQUISITION (APPROX. 12.873
ACRES)
MARSHALL CREEK EAST
IMPROVEMENTS
LAND ACQUISITION (APPROX. 4.060
ACRES)
INTERSECTION IMPROVEMENTS
SUB - TOTAL TROPHY CLUB
DRIVE IMPROVEMENTS: $2,839,896
SUB - TOTAL MARSHALL
CREEKRDEAST
IMPROVEMENTS: $1,250,587
SUB - TOTAL
THOROUGHFARE
IMPROVEMENTS: $7,221,409
2. WATER DISTRIBUTION SYSTEM
12"/16" WATER LINE LOOP $91 6,70C
12" WATER LlNE - ALONG MC ROAD WEST AND NORTH TO ELEV. TANK
SITE $222,50C
12" WATER LINE - SCHOOL SITE OVER-SIZING PARTICIPATION $71,20C
ELEVATED WATER TANK (0.5MG
TANK)
SUB - TOTAL WATER
DISTRIBUTION SYSTEM: $2,170,400
WASTEWATER COLLECTION
3. SYSTEM
SANITARY SEWER LlNE WITHIN
TROPHY CLUB DRIVE
SEWER LlNE TO EXISTING
SYSTEM
SUB - TOTAL WASTEWATER
COLLECTION SYSTEM: $835,200
4. THOROUGHFARE LANDSCAPING
TROPHY CLUB DRIVE STREETSCAPE AND MEDIAN LANDSCAPING $773,423
TROPHY CLUB DRIVE SIDEWALK $336,271
TROPHY CLUB DRIVE
IRRIGATION
IRRIGATION WELLS $420,338
IRRIGATION PONDS $428,745
TROPHY CLUB DRIVE DECORATIVE MASONRY SCREENING WALL $400,00C
MARSHALL CREEK ROAD EAST THIN
SCREENING WALL
DEVELOPMENT SIGNATURE
MONUMENT (TOWER)
NEIGHBORHOOD ENTRY FEATURES (10
ENTRIES)
SUB - TOTAL
THOROUGHFARE
LANDSCAPING: $2,888,857
TRAIL SYSTEM AND OPEN
5. SPACE
TRAIL SYSTEM $607,835
FLOWAGE EASEMENT LAND ACQUISITION (APPROX. 100.908 ACRES) $479,182
SUB - TOTAL TRAIL
IMPROVEMENTS AND OPEN
SPACE: $1,087,018
PUBLIC
6. PARKS
NORTHWEST PARK
IMPROVEMENTS
NORTHWEST PARK LAND ACQUISITION (APPROX. 12.900 ACRES) $1,044,716
NORTHEAST PARK
IMPROVEMENTS
NORTHEAST PARK LAND ACQUISITION (APPROX. 16.1 00 ACRES) $759,793
PARK DRAINAGE
7. IMPROVEMENTS
SUB -TOTAL PUBLIC PARKS: $4,155,122
CONSTRUCTION ADMINISTRATION I
8. MANAGEMENT
9. CONTINGENCY
$1,371,371
$1,842,899
COMPREHENSIVE TOTAL: $22,598,000
EXHIBIT A
List of Other Costs
List of Other Costs Cost Amount
Debt Service Reserve Fund $2,119,354.00
Capitalized Interest $2,525,805.00
Bond Counsel (V&E) $435,484.00
Underwriters Counsel (Fullbright) $290,322.00
Developers Financial Advisor (First SW) $290,322.00
City Financial Advisor (SW Securities) $290,322.00
Underwriters Fee (Banc of America) $580,645.00
Interest From Development Fund ($301,663.00)
Developers Counsel (HugheslLuce) $145,161 .OO
Municap $58,064.00
Total Other Costs $6,433,816.00
Authorized Improvement Costs
Other Costs
Total Costs of Authorized Improvements & Other Costs $29,031,816.00