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RES 2012-02TOWN OF TROPHY CLUB, TEXAS RESOLUTION NO. 2012-02 A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF TROPHY CLUB, TEXAS SUPPORTING THE REALLOCATION OF TWO MILLION DOLLARS IN TRIP 08 BOND FUNDS BY DENTON COUNTY; SUPPORTING THE DECISION OF THE DENTON COUNTY COMMISSIONERS COURT TO CHANGE THE ALLOCATION OF BOND FUNDS TO THE TOWN FROM A PLANNING GRANT FOR A LOOP ROAD WITHIN THE TOWN TO A GRANT FOR THE CONSTRUCTION OF THE ROUNDABOUT AND OTHER STREET IMPROVEMENTS WITHIN THE TOWN; EXPRESSING THE SUPPORT OF THE TOWN COUNCIL FOR THE REALLOCATION; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, As a result of a bond election in 2008, the Denton County Commissioner's Court allocated Two Million Dollars in bond funds to the Town of Trophy Club in order to fund a Planning Grant for a study related to the construction of a loop road within the Town; and WHEREAS, As a result of anticipated future and currently increasing traffic demand caused by increased development within the Town, the Town has determined it necessary and appropriate to construct a roundabout at the intersection of Trophy Club Drive and Trophy Lake Drive as well as other street improvements within the Town; and WHEREAS, The Town has requested that the Denton County Commissioners Court allocate TRIP 08 funds for the purpose of paying for the costs of the roundabout and other street improvements rather than for the Planning Grant for the Loop Road Study as initially planned; and WHEREAS, the Denton County Commissioners Court has agreed to reallocate Two Million Dollars in funds from the Loop Road Grant to a Grant to pay costs of the roundabout and other street improvements within the Town; and WHEREAS, the Town Council believes that the reallocation serves the best interests of the Town and the public safety interests of users of the roadways in Trophy Club, Denton County, Texas and wishes to express its support for the decision by Denton County to reallocate the funds for the roundabout and street improvement project. NOW THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF TROPHY CLUB, TEXAS THAT: Section 1. That the foregoing premises are adopted and are incorporated herein for all purposes; and Section 2. That the Town Council hereby expresses its support for the decision of the Denton County Commissioners Court to reallocate two million dollars in TRIP 08 funds from a Planning Grant for a Loop Road to a Grant for the Construction of the Roundabout and other street improvements within the Town. PASSED AND APPROVED by the Town Council of the Town of Trophy Club, Texas this the 20th day of February, 2012. ATTEST: SIQg non DePrater,vT own Secretary Town of Trophy Club, Texas APPROVED TO AS FORM: Patricia A. Adams , Town Attorney Town of Trophy Club, Texas RES 2012-02 06nnie White, Mayor Town of Trophy Club, Texas [SEAL] Page 2 of2