Minutes EDC 4B 05/13/2002MINUTES OF WORKSHOP/REGULAR SESSION
ECONOMIC DEVELOPMENT CORPORATION 4B
TOWN OF TROPHY CLUB
May 13, 2002
STATE OF TEXAS
COUNTY OF DENTON
The Economic Development Corporation 4B of the Town of Trophy Club, Texas, met in a
Workshop/Regular Session on May 13, 2002. The meeting was held within the boundaries of the Town
and was open to the public.
DIRECTORS PRESENT:
James Hicks
John Carter
Jonathan Witherspoon
Pam Cates
Susan Edstrom
DIRECTORS ABSENT:
Carol Cotton
Terry Christlieb
STAFF AND GUEST(S) PRESENT:
Roger Unger
Jan Woodruff
President
Treasurer
Vice -President
Director
Director/Council Liaison
Secretary
Director
Staff Liaison
Recording Secretary
WORKSHOP SESSION
CALL TO ORDER AND ANNOUNCE A QUORUM:
President Hicks stated a quorum was present at 6:41 p.m. and proceeded to the regular session.
DISCUSSION OF REGULAR AGENDA ITEMS:
ADJOURN WORKSHOP SESSION:
REGULAR SESSION/PUBLIC HEARING
CALL TO ORDER AND ANNOUNCE A QUORUM:
President Hicks called the meeting to order and announced a quorum at 6:41 p.m.
DEVELOPER REPORT:
No developer report.
DISCUSSION AND APPROPRIATE ACTION REGARDING PUBLIC HEARING FOR THE
FUNDING OF THE POOL AND PHASE 2 AND PHASE 3 OF THE 10 -ACRE PARK.
It was the consensus of the Directors to recommend to the Trophy Club Town Council to go ahead and
issue bonds in a few months so that the pool would be complete by May of next year because of the lower
interest rate and the construction costs would probably be lower at this time. Director Witherspoon was to
draft a letter for the EDC 4B. No one outside of the EDC 4B Directors and staff attended the public
hearing.
DISCUSSION AND APPROPRIATE ACTION REGARDING THE SIGNATORY AGREEMENT
WITH THE TEXPOOL ACCOUNT. It was the consensus of the Board that Roger Unger, Donna
Welsh, Diane Cockrell, James Hicks (President), and John Carter (Treasurer) have signatory privileges.
DISCUSSION OF REIMBURSEMENT OF ADMINISTRATIVE EXPENSES ASSOCIATED
WITH EDC PROJECTS. This was tabled to be included with budget development talks at next meeting.
PAGE 2 EDC 4B MAY 13, 2002
MEETING MINUTES
DISCUSSION AND APPROPRIATE ACTION TO EXPEND 4TH OF JULY BUDGETED FUNDS.
Tabled until next meeting. A planned list for $10,000 of fireworks or actual invoices needs to be presented.
DISCUSSION AND APPROPRIATE ACTION TO DEVELOP FY2003 BUDGET. Tabled until next
meeting.
REVIEW AND APPROVE MINUTES:
Director Carter made a motion to accept the April 8`h meeting minutes. Director Witherspoon seconded the
motion and it passed unanimously.
REVIEW AND APPROVE FINANCIAL REPORT:
Director Witherspoon made a motion to accept the April financial report. Director Cates seconded.
Motion passed unanimously.
OTHER BUSINESS:
Roger Unger invited the EDC 4B Directors to attend the Master District budget workshop on May 18 and
the Town of Trophy Club budget workshop on June 1.
Director Cates asked that someone from the EDC 4B Board attend the Roanoke Trophy Club Westlake
Chamber of Commerce luncheons.
Director Witherspoon gave an update on the Bond Steering Committee expenses.
ADJOURN:
Director Carter made a motion to adjourn the meeting at 8:08 p. in. Director Cates seconded. Motion
passed unanimously.
;ter
Ja ' s Hicks Carol Cotton
President Secretary
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