Min - Community Development Corporation - 2007 - 11/19 - RegularALLEN COMMUNITY DEVELOPMENT CORPORATION
BOARD MEETING MINUTES
NOVEMBER 19, 2007
Lee Howard, President
Sue Johnson, Vice -President (Absent)
Richard Kessler, Secretary (Absent)
Debbie Stout
George Chrisman (Absent)
Lonnie Simmons
Lori Stitt
City Staff:
Peter H. Vargas, City Manager
Kevin Hammeke, Director of Finance Department
Brian Bristow, Landscape Architect
Tina Burnside, Senior Administrative Assistant
1. Call to Order and Announce a Ouorum is Present
With a quorum of the Community Development Corporation Board present, President
Howard called the Meeting to order at 7:00 p.m. on Monday, November 19, 2007, in
the Council Conference Room.
2. Approve Minutes of the October 15, 2007, Meeting
Motion: Upon a motion by Board Member Stout and a second by Board Member
Simmons, the Board voted four (4) for and none (0) opposed to approve
the minutes from the October 15, 2007, meeting. The motion carried.
3. Citizens' Comments
4. Consider all Matters Incident and Related to Amending Resolution No. 107 -
CDC -07 Adopted on October 15, 2007 Authorizing the Issuance of "Allen
Community Development Corporation Sales Tax Revenue Bonds, Taxable Series
200711", Including the Adoption of a Resolution Pertaining Thereto.
Motion: Upon a motion by Board Member Stitt and a second by Board Member
Simmons, the Board voted four (4) for and none (0) opposed to amend
Resolution No. 107 -CDC -07, Adopted on October 15, 2007 Authorizing
the Issuance of Allen Community Development Corporation Sales Tax
Revenue Bonds, Taxable Series 2007B, including the adoption of a
resolution pertaining thereto. The motion carried.
Community Development Corporation Minutes
November 19, 2007
Page 2
1 5. Consider Approval of the Amended and Restated Project Reimbursement
Agreement Related to the Garden District Project Subject to Final Approval by
the City Attorney and the City Manager
Motion: Upon a motion by Board Member Stout and a second by Board Member
Stitt, the Board voted four (4) for and none (0) opposed to approve the
amended and restated project reimbursement agreement related to the
Garden District Project subject to final approval by the City Attorney and
the City Manager. The motion carried.
6. Other Business
a) Sales Tax Analysis
b) Balance Sheet
c) Project Status Reports and Map
➢ Overview of Select Projects by Brian Bristow
d) Items of Interest to the Board
➢ Community Calendar
1➢ Next Meeting —December 17, 2007, at 7 p.m.
7. Adjourn
Motion: Upon a motion by Board Member Stitt and a second by Bond Member
Simmons, the Bond voted four (4) for and none (0) opposed to adjourn
the meeting at 8:07 p.m. The motion carried.
These minutes approved on the 17" day of December 2007
Lee Howard, PRESIDEN Richard Kessler, SECRETARY
RESOLUTION NO. 108 -CDC -07
A RESOLUTION relating to Resolution No. 107 -CDC -07 authorizing the issuance
of "ALLEN COMMUNITY DEVELOPMENT CORPORATION SALES TAX
REVENUE BONDS, TAXABLE SERIES 2007B"; amending certain
provisions of such resolution; delegating the determination of the bond
date of such bonds to the Pricing Officer; resolving other matters incident
and related thereto; and providing an effective date.
WHEREAS, on October 15, 2007, the Board of Directors of the Allen Community
Development Corporation ("Corporation") adopted Resolution No. 107 -CDC -07 (the
"Resolution") authorizing the issuance of "Allen Community Development Corporation Sales Tax
Revenue Bonds, Taxable Series 200713" (the "Bonds") and delegated certain matters relating to
the issuance, sale and delivery of the Bonds to the Pricing Officer; and
WHEREAS, the Resolution provided for the Bond Date of the Bonds to be October 15,
2007 and further provided that interest on the Bonds shall accrue from the Bond Date; and
WHEREAS, the Board of Directors of the Corporation hereby finds and determines that
the determination of the Bond Date should be delegated to the Pricing Officer and stated in the
Pricing Certificate; now, therefore,
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE ALLEN COMMUNITY
DEVELOPMENT CORPORATION:
SECTION 1: The Pricing Officer is hereby authorized to act on behalf of the
Corporation in determining the Bond Date for the Bonds and all references to October 15, 2007
as the Bond Date in the Resolution shall be and are hereby revised and amended to reflect the
Bond Date determined by the Pricing Officer in the Pricing Certificate.
SECTION 2: Capitalized terms used herein shall have the same meanings assigned
thereto in the Resolution.
SECTION 3: It is officially found, determined, and declared that the meeting at which
this Resolution is adopted was open to the public and public notice of the time, place, and
subject matter of the public business to be considered at such meeting, including this
Resolution, was given, all as required by V.T.C.A., Government Code, Chapter 551, as
amended.
SECTION 4: This Resolution shall be in force and effect from and after its passage on
the date shown below.
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70107524.1110710104
PASSED AND ADOPTED, this November 19, 2007.
ALLEN COMMUNITY DEVELOPMENT
CORPORATION
Chairperson, Board of Directors
ATTEST:
Secretary, Board of Directors
(Seal)
70107524.1/10710104 S-1