Minutes TC 02/25/2002 - Special SessionMINUTES OF
SPECIAL TOWN COUNCIL MEETING
FOR THE
TOWN OF TROPHY CLUB
FEBRUARY 25, 2002
STATE OF TEXAS
COUNTY OF DENTON
The Town Council of the Town of Trophy Club, Texas, met in Special Session on Monday, January
25, 2002. The meeting was held within the boundaries of the Town and was open to the public.
SPECIAL SESSION
Scott Smith
Mayor
Susan Edstrom
Mayor Pro Tem
Bill Matthai
Council Member
Barry Huizenga
Council Member
Roger Williams
Council Member
TOWN COUNCIL MEMBERS ABSENT:
Scott Spence Council Member
STAFF AND GUEST(S) PRESENT:
Donna Welsh
Town Manager
Diane Cockrell
Town Secretary
Roger Unger
Finance Director
Pete Tart
Bond Attorney
CALL TO ORDER AND ANNOUNCE A QUORUM:
Mayor Smith called the Special Session to order at 5:32 p.m., noting a quorum was present.
INVOCATION: Council Member Matthai gave the invocation.
PLEDGE OF ALLEGIANCE TO THE AMERICAN AND TEXAS FLAG:
Roger Unger led the pledges.
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.
None.
Council took a recess a 5:34 p.m., and resumed at 5:37 p.m.
TOWN COUNCIL TO DISCUSS AND TAKE APPROPRIATE ACTION REGARDING AN
ORDINANCE OF THE TOWN OF TROPHY CLUB, TEXAS, AUTHORIZING THE
Page 2 SPECIAL SESSION February 25, 2002
ISSUANCE, SALE, AND DELIVERY OF TOWN OF TROPHY CLUB TEXAS GENERAL
OBLIGATION REFUNDING BONDS SERIES, 2002; ESTABLISHING BOND AMOUNT
AND PURPOSE; PROVIDING FOR DESIGNATION OF THE BONDS; PROVIDING FOR
INITIAL DATE, DENOMINATION, NUMBER, MATURITIES, INITIAL REGISTERED
OWNER, AND CHARACTERISTICS OF THE INITIAL BOND; PROVIDING FOR
INTEREST; PROVIDING FOR THE FORM OF THE INITIAL BOND; DEFINING
ADDITIONAL CHARACTERISTICS OF THE BONDS; PROVIDING FOR THE FORM OF
SUBSTITUTE BONDS; PROVIDING FOR TAX LEVY; PROVIDING FOR DEFEASANCE
OF BONDS; PROVIDING FOR DAMAGED, MUTILATED, LOST, STOLEN OR
DESTROYED BONDS; ESTABLISHING GUIDELINES FOR CUSTODY, APPROVAL, AND
REGISTRATION OF BONDS, BOND COUNSEL'S OPINION, CUSIP NUMBERS, AND
CONTINGENT INSURANCE PROVISION, IF OBTAINED; PROVIDING COVENANTS
REGARDING TAX EXEMPTION; PROVIDING FOR THE DISPOSITION OF PROJECT;
PROVIDING FOR CONTINUING DISCLOSURE; PROVIDING FOR SALE OF BONDS;
PROVIDING FOR APPROVAL OF THE OFFICIAL STATEMENT; PROVIDING FOR
APPROVAL OF ESCROW AGREEMENT AND TRANSFER OF FUNDS; PROVIDING FOR
NOTICE OF REDEMPTION; PROVIDING FOR NOTICE TO PAYING AGENT,
REGISTRAR AND PUBLICATION; PROVIDING FOR INTEREST EARNINGS ON BOND
PROCEEDS; PROVIDING REASONS FOR REFUNDING; PROVIDING FOR AN
INTEREST AND SINKING FUND; PROVIDING FOR INSURANCE; PROVIDING FOR
PUBLIC NOTICE; GENERALLY AUTHORIZING THE MAYOR TO EXECUTE ALL
NECESSARY DOCUMENTS; PROVIDING A CUMULATIVE CLAUSE; PROVIDING FOR
SAVINGS; PROVIDING SEVERABILITY; PROVIDING FOR PUBLICATION; PROVIDING
FOR ENGROSSMENT AND ENROLLMENT; AND PROVIDING AN EFFECTIVE DATE.
Pete Tart explained that the initial bond ordinance adopted on January 28, 2002, had only three council
members present. The Attorney General requires when there is a special meeting, need to have four
out of five (two-thirds) council members present to vote.
Council Member Matthai made a motion to approve the bond ordinance as written. Mayor Pro Tem
Edstrom seconded; motion carried unanimously.
ADJOURN.
Mayor Pro Tem Edstrom made a motion to adjourn at 5:38 p.m. Council Member Huizenga seconded;
motion carried unanimously.
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ATTEST:
Town Secretary, T¢wn of Trophy Club, Texas
j Mayor, Town r by Club, Texas