Minutes CFAB 01/06/2012MINUTES FROM REGULAR SESSION CITIZENS FINANCIAL ADVISORY BOARD MEETING
FOR THE TOWN OF TROPHY CLUB
LOCATION: 100 MUNICIPAL DRIVE, TROPHY CLUB, TEXAS
Friday, January 6, 2012 at 4:00 P.M.
Public Services Conference Room
The Citizens Financial Advisory Board of the Town of Trophy Club, Texas, met in Regular Session on
Friday, January 6, 2012. The meeting was held within the boundaries of the Town and was open to the
public.
STATE OF TEXAS §
COUNTY OF DENTON §
BOARD MEMBERS PRESENT:
Michael Buck President
Kathy Carlton Secretary
Jim Hase Board Member
Bob Hill Board Member
BOARD MEMBERS ABSENT:
Amanda McGough Vice President
STAFF AND GUEST(S) PRESENT:
Eric Cannon Finance Director
President Buck announced the date of January 6, 2012, called the meeting to order and announced a
quorum at 4:25 p.m.
CITIZEN PRESENTATIONS
Citizens are allowed three (3) minutes to address the Board regarding an item over which the Board has
policy or oversight authority as provided by Texas law, the ethics order, or other policy order.
No citizen presentations were made.
REGULAR SESSION
1. Consider and take appropriate action regarding sales tax funded organizational structure
options and appropriate sales tax allocation models.
The Board requested staff to research and report back about the following questions:
1. If the committee decides to recommend to the Town Council the creation of a Municipal
Development District (MDD), can they require the MDD to meet the same publishing
requirements that are currently required of EDC 4A and EDC 413?
2. Does an MDD have the ability to purchase or finance public facilities (ex: land, police station, city
hall facilities)?
2. Consider and take appropriate action regarding the Minutes dated December 13, 2011.
President Michael Buck asked for amended minutes, Directors McCough and Carlton were absent.
3. Board Comments and Discussion.
Board will review discussion, and plans to vote on their recommendation to city council about sales tax
organizational structure at their next meeting.
4. Set next meeting date.
The Board set January 20, 2012 at 4:00 p.m. as the next meeting date.
ADJOURN
Meeting adjourned at 6:01 p.m.
Micha u&, President
Kathy Carlt Secretary
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CFAB January 6, 2012 Minutes Page 2 of 2