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HomeMy WebLinkAboutCC 1997-06-09 Agendas CITY OF NORTH RICHLAND HILLS PRE-COUNCil AGENDA JUNE 9, 1997 - 6:15 P.M. For.the Meeting~onducted at the North Richland Hills City Hall Pre-Council Chambers, 7301 Northeast Loop 820. .- . NUMBER . . .. ITEM ACTION TAKEN 1. Presentation by Women's Shelter (10 Minutes) . " '. 2. Discussion of Boards/Commissions - Councilwoman Lyman (5 Minutes) ...,~ ""- 3. IR 97-57 Appointments to Council Committees (5 Minutes) 4. Recruitment of Fire Chief (5 Minutes) 5. GN 97-52 Resolution Supporting Healthcare in Northeast Tarrant County - Resolution No. 97-25 (Agenda . Item No. 13)(5 Minutes) ,.,., ~'4·' .... 6;fÞU.97 -54 Award of Bid for Iron Horse Golf Course 1997 Erosion Control Improvements (Agenda Item No. 27) (5 Minutes) .. . .. 7. Other Items .... Page 2 NUMBER ITEM ACTION TAKEN 8. *Executive Session (20 Minutes) - The Council may enter into closed executive session to discuss the following: A. Pending Litigation Under Government Code §551.071 Bean vs. NRH Cause No. 348-162087 B. Consultation with Attorney Under Government Code §551.071 on Police Matter 19. 1 Adjournment -7:20 p.m. I 1 *Closed due to subject matter as provided by the Open Meetings Law. If any action is contemplated, it will be taken in open session. CITY OF NORTH RICHLAND HILLS CITY COUNCIL AGENDA JUNE 9, 1997 For the Regular Meeting conducted at the North Richland Hills City Hall Council Chambers, 7301 Northeast Loop 820, at 7:30 p.m. The below listed items are placed on the Agenda for discussion and/or action. 1. Items marked with an * are on the consent agenda and will be voted on in one motion unless a Council Member asks for separate discussion. 2. The Council reserves the right to retire into executive session concerning any of the items listed on this Agenda, whenever it is considered necessary and legally justified under the Open Meetings Act. 3. Persons with disabilities who plan to attend this meeting and who may need assistance should contact the City Secretary's office at 581-5502 two working days prior to the meeting so that appropriate arrangements can be made. NUMBER ITEM ACTION TAKEN I 1. I Call to Order I I 2. I Invocation I I 3. I Pledge of Allegiance I I 4. Special Presentations a. Fire Department by Nancy Smith, Red Cross for Emergency Management Recognition b. "Yard of the Month" Awards c. "Landscape of the Month" Awards ..__~..__.,..^_....._~,_...__.~_,.___o.___,_'.__~~""~__.__.,_.__,___,_."_____.~.__._.._~__ Page 2 NUMBER ITEM ACTION TAKEN 5. Removal of Item(s) from the Consent Agenda 6. Consent Agenda Item(s) Indicated by Asterisk (7,8,12,13,14,15, 19,20, 21, 22, 23, 24, 25, 26, 27 & 28) *7. Minutes of the Pre-Council Meeting May 12,1997 *8. Minutes of the Regular Meeting May 12, 1997 9. PZ 97-18 Public Hearing to Consider the Request of Pao Ly to Rezone a Portion of Tract 18A5, S. Richardson Survey, Abstract 1266 from AG Agriculture to R-1-S Special Single Family Residential- Ordinance No. 2207 (Located at 8805 Rumfield Road) 10. PZ 97-19 Request of Timothy Samsill for an Appeal Hearing Regarding the Rezoning of Lot 6, Block 4, Richland Terrace Addition from R-2 Single Family Residential to C-2 Commercial (Located at 4704 Susan Lee Lane) ._".__._-_._-------~_._,-~._~--_..--"->""~~'-">'~-_..,----.~--~._--,~'"--- Page 3 I NUMBER I ITEM I ACTION TAKEN I 11. PZ 97-20 Public Hearing to Consider the Request of Bill Stimmel to Rezone Tract 2M2, M. Lynch Survey, Abstract 953 from R-3 Single Family Residential to C-2 Commercial - Ordinance No. 2208 (Located at 6646 Harmonson Road) *12. PS 97-21 Request of M & J Construction for a Final Plat of Blocks 24 & 25, Kingswood Estates Addition (Located northwest of the Smithfield Road and Green Valley Drive Intersection) *13. GN 97-52 Resolution Supporting Healthcare in Northeast Tarrant County - Resolution No. 97-24 *14. GN 97-53 Approval of Investment Strategy and Investment Policy - Resolution No. 97 -22 *15. GN 97-54 Authorizing the Submittal for Temporary "Partial" Closure of State Highway 26 and FM 3029 for the NationallronKids Triathlon - Resolution No. 97-23 16. GN 97-55 Appointments to Park and Recreation Facilities Development Corporation 17. GN 97-56 Appointments to Boards and Commissions ________________.'' . _ ".~_M...___~__.__.,,····__.."··__··"·_·_"_·_"___···__·_~~'--~--.--.------_.-_....,-.--~.~~-.---.."..~,.".~""--- Page 4 NUMBER ITEM ACTION TAKEN 18. GN 97-57 Appointments to Crime Control and Prevention District *19. GN 97-58 Set Date for Public Hearing on Street Closure of Galway Lane/Northridge Boulevard *20. PU 97-47 Authorize Purchase of Street Sweeper through HGAC Cooperative Purchasing Program *21. PU 97-48 Award Bid for 1997 Tractor/Loader with Backhoe *22. PU 97-49 Award Bid for 1997 Tractor *23. PU 97-50 Authorize Extension of Annual Contract for Aquatic Chemical Supplies for NRH20 *24. PU 97-51 Award Bid for Turf Improvement at Green Valley Community Park and Soccer Complex *25. PU 97-52 Authorize Extension of Annual Contract with Forensic Consultant Services *26. PU 97-53 Award Bid for Color Laser Printer Page 5 I NUMBER I ITEM I ACTION TAKEN I *27. PU 97-54 Award of Bid for Iron Horse Golf Course 1997 Erosion Control Improvements *28. PU 97-55 Haz-Mat Truck & Trailer Purchase and Financing Agreement 29. PW 97-14 Public Hearing on Hightower Drive Sections A2 & B Assessments 30. PW 97-15 Close Public Hearing and Establish Assessments for Improvements on Hightower Drive - Ordinance No. 2211 31. Citizens Presentation 32. Adjournment POS'TED Ú-(p,q; Dê'.Itl? J:: .3 -!>- qlf!:.~~,,_ ~....~~~" nme City Secretary el:!2~~. MINUTES OF THE PARKS AND RECREATION BOARD OF THE CITY OF NORTH RICHLAND HILLS, TEXAS, HELD AT THE NORTH RICHLAND HILLS COUNCIL CHAMBERS LOCATED AT 7301 NORTHEAST LOOP 820 April 7, 1997 - 6:00 P.M. ATTENDANCE PRESENT: Board: Don Tipps Sharon Battles Pam Jackson Cheryl Lyman Lorraine Miller Ann Perchard Rick Work Chairman Vice Chairwoman Board Member Board Member Board Member Board Member Board Member Staff: Jim Browne Christina Lopez Marcia Minnies Patty Moos Chris Swartz Monica Sue Walsh Director of Parks & Recreation Administrative Secretary Marketing Specialist Park Planning & Construction Superintendent Aquatic Manager Assistant Director of Parks & Recreation ABSENT: Bobbie Lambert Board Member ITEM 1. CALL TO ORDER Mr. Tipps called the meeting to order April 7, 1997 at 6:05 P.M. ITEM 2. APPROVAL OF THE MINUTES (Passed 7-0) Ms. Jackson made a motion, seconded by Ms. Perchard, to approve the minutes of the March 3, 1997 meeting. 1 r ITEM 3. PARK OPERATIONS AND CAPITAL IMPROVEMENT PROGRAM STATUS REPORT Ms. Patty Moos provided a report of the status of the Parks Maintenance Department and Capita Improvement Projects. Preliminary design work is continuing on Calloway Branch Trail, staff is preparing to meet with the consultants. Staff has met with TxDOT regarding North Electric Trail. The project is scheduled to go out for bid sometime this summer. NJB, Inc. is proceeding with the preliminary pedestrian and equestrian trail layout of Little Bear Creek Trail. Staff is working on the acquisition of right-of-way. Construction started with the site grading and trail construction at Glenview Neighborhood Park. The lake has been excavated. Maps have been drawn up and preliminary map layout is being prepared for the Phase I Bike Route Maps and Signage. The consultant contract has been prepared and forwarded to TxDOT for review for the North Hills Mall Multi-Use Trail. Site grading and clearing has started on the Girls Fast Pitch Softball Complex. The main road has beer cleared, but has been held up by weather. A Texas Parks and Wildlife Department grant application was submitted, for the 100 Acre City Park, prior to the January 31 deadline. Notice of award is anticipated for August 1997. The consultant is proceeding with the completion of the plans and specifications. Brinkley Sargent Architects are completing revisions to the NRH20 Master Plan Update for the remainder of the site. Final plans and specifications should be available soon for the Standard Park Signage. Site grading and excavation have begun on the Dan Echols Senior Adult Center parking Lot. The project will include a footbridge for pedestrians, 30 parking spaces and 2 handicap spaces. ITEM 4. RECREATION, ATHLETICS AND SENIOR ADULTS Ms. Monica Walsh provided a report of activities in recreation, athletics, senior adult services and the Tennis Center. The new procedures for Friday Night Out proved to be successful in controlling both the number of students and age of students attending. Friday Night Out usually consists of activities such a5 basketball shootout, dance contest, bungee run and other activities. Staff hires a professional DJ to 2 play music and two police officers attend and keep an eye on things both inside and out. Also occasionally members of the Task Force drop in to make an appearance. The Easter Egg Hunt was held on March 22 with approximately 2,000 children in attendance. The Family Festival has been rescheduled to October and will be combined with the Head for the Hills Festival. The Spring Break Camp will be held April 7 - 11. The Baby Olympics will be held on April 19 and is sponsored by the Star-Telegram. The new security system is now in operation at the Recreation Center. In addition, the Closed Circuit T.V. system will be installed in April. SENIORS Parking lot lights have been installed at Bursey R9ad Senior Center by T.U. Electric. On March 21-23, the Swingin' Seniors took first place at the Holiday Inn North annual "Texas Hoe Down"! A Bake and Craft Sale will be held at Dan Echols on April 25 & 26. ATHLETICS Softball registration increased by 15 teams from the Spring of 1996 with a total of 84 teams participating five nights a week. TENNIS CENTER The Richland Tennis Center Grand Opening is scheduled for Saturday, April 26. Prince Sports Group is sponsoring an appearance by Cathy Rinaldi-Stunkel a Corel WTA Tour Player. The Grand Opening will be held from 10:30 - 1 :00. Jarvis High School will be hosting the District 3A Tournament at the tennis center on April 7 & 8. Richland High School will be hosting their District Tournament on April 11 & 12. Their JV District Tournament will be on April 14 at the facility. ITEM 5. AQUATICS REPORT Mr. Chris Swartz provided a report on the activities at NRH20 Family Water Park. A new program targeted at those 11-15 years of age is unveiled at NRH20. The program provides the opportunity for those not quite old enough to work at NRH20 to learn about guest service, teamwork, life guarding, CPR and first aid. Junior Guards will spend time in class and shadowing a lifeguard. 3 .. The Learn To Swim program has been expanded due to overwhelming demand. 168 spots will be available for individuals to sign up, which is an increase of over 25% from the 1996 season. Marcia Minnies has joined the Parks and Recreation Department at Marketing Specialist. Marcia was previously the Marketing Manager for Mountasia. The computer system for NRH20 have been upgraded to the latest version of Pacer/CATS. The upgrades were completed during the off-season. Mr. Swartz announced the names of the 1997 NRH20 Management Team which is as follows: Food and Beverage Supervisor Maintenance Supervisor Marketing Specialist Office Coordinator Office Lead Operations Coordinator Operations Supervisor Park Manager Revenue Coordinator Revenue Supervisor Jeff Dickson Roger Skaggs Marcia Minnies Dena Pierson Tracey Dickson Frank Perez Colin Trudo Chris Swartz Kelli Carter Paul Galloway 1997 Dates and Hours of Operation: May 17 & 18 Saturday & Sunday 10:00 am - 6:00 pm May 24 - June 19 Saturday - Sunday 10:00 am - 8:00 pm June 20 - August 10 Sunday - Thursday 10:00 am - 8:00 pm Friday & Saturday 10:00 am - 10:00 pm August 16 - September 14 Saturday & Sunday 10:00 am - 6:00 pm 1997 Admission Prices Category One Day Ticket Adult Child Season Pass Adult Child Family of Up to Four North Richland Hills Resident Non-Resident $5.95 $4.95 $10.95 $8.95 $59.95 $49.95 $149.95 $89.95 $69.95 $229.95 NRH20 Family Water Park was selected to host the 1997 Ellis & Associates Lifeguard Competition which will be held on July 24, approximately 7:00 am - 1 :30 pm. Activities will include life guarding events, CPR, First Aid, and water safety skills. 4 6. DISCUSSION OF OTHER ITEMS NOT ON AGENDA Mr. Tipps commented that he was very proud of NRH20 being rated #10 for Tourist Attractions in Tarrant County. Mr. Work wanted to know the current prices for NRH20. Staff responded. Ms. Lorraine Miller thanked Mr. Browne for the tour of facilities to help her get familiar with the south side of North Richland Hills. Mr. Tipps encourage the Board to complete their information for the Historical Committee regarding families. He would like to see everyone included. Heritage Night is May 16 at City Hall from 6:00 - 800 p.m. Gary Fore, with Richland Youth Association, thanked staff for the help at Richfield Park and also volunteered to help with the IronKids Triathlon. Cheryl Lyman announced that this would be her last Park Board meeting, since she was running unopposed for City Council, she would automatically be seated at the next council meeting. Mr. Tipps introduced Ms. Melba Montgomery, who lives near Glenview Park and taught at Richland High School. Ms. Montgomery commented about how nice the parks are in North Richland Hills are and how people can enjoy the open green space at Glenview Park. She keeps her grandchildren a lot and is amazed at how many people use Glenview Park to walk their dogs around the track or just sitting around. Really is happy that this park was planned for that side of town. Mr. Browne commented that IronKids planning was progressing very well. ITEM 7. ADJOURNMENT Ms. Battles made a motion, seconded by Mr. Lambert, to adjourned the meeting at 7:03 P.M. ATTEST: ~ {JLL-d¿¿ Christina Lopez, Adminis~ Secretary 5 .._---_._"--_.~-_._..-.,-------"_..^--'--_.,-~"---_."_.----~-----,._-'--..~ MINUTES OF THE NORTH RICHLAND HILLS CABLE TELEVISION BOARD, HELD IN THE CITICABLE STUDIOS 6720 N.E. LOOP 820 - MARCH 17, 1997 BOARD PRESENT: Doug Clark Marlin Miller Joe Spurlock David Whitson Deborah Bowman David Anderson ITEM CALL TO ORDER 1. APPROVAL OF FEBRUARY 17 MINUTES 2. UPDATE CITICABLE 3. UPDATE MARCUS CABLE 4. BOARD MEMBER REPORTS 5. NEW BUSINESS ABSENT: James Allen STAFF PRESENT: Larry Cunningham Andy Wayman Greg Oldenburg DISCUSSION Doug Clark called the meeting to order at 6:01 pm. David Whitson moved and Joe Spurlock seconded to approve the February 17 minutes. They were approved unanimously. Citicable Coordinator Greg Oldenburg informed the Board about the items which are summarized in Attachment "A". Marcus Assistant General Manager Karen Yurchuck was not in attendance. Doug Clark discussed TCl's recent rate increase. He further commented that he had noticed improved vehicle signage for Marcus Cable contractors. Doug Clark commented on the increased cost of equipment that has already been capitalized (i.e. remote control units, converter boxes). He asked if the City had the authority to mandate the purchase of new equipment for customers. He further asked if Marcus would advertise if new equipment was available. Doug Clark moved and Deborah Bowman seconded to cancel the April meeting. The motion was approved unanimously. GUESTS: ASSIGNMENT 6. ADJOURNMENT David Whitson moved to adjourn and Marlin Miller seconded. The motion was approved unanimous. INFORMAL REPORT TO MAYOR AND CITY COUNCIL No. "- ~ Date: T Subject: June 9, 1997 Appointments to Council Committees Mayor Brown is recommending that the following Council Members be appointed/reappointed to the Council Committees listed below. CIP COMMITTEE Lyle E. Welch Frank Metts, Jr. Don Phifer Tommy Brown (alternate) WASTEWATER SYSTEM ADVISORY COMMITTEE Byron Sibbet WATER ADVISORY COMMITTEE Byron Sibbet NATIONAL LEAGUE OF CITIES REPRESENTATIVE Mack Garvin (voting representative) Tommy Brown (alternate) '-- TEXAS MUNICIPAL LEAGUE REPRESENTATIVE Tommy Brown Mack Garvin (alternate) NORTH TEXAS COMMISSION Don Phifer (voting representtive) NORTH CENTRAL TEXAS COUNCIL OF GOVERNMENTS JoAnn Johnson CHAMBER OF COMMERCE REPRESENTATIVE Cheryl Cowen Lyman REGIONAL TRANSPORTATION COUNCIL Tommy Brown Respectfully submitted, ~da'~ ~ Patricia Hutson City Secretary ISSUED BY THE CITY MANAGER NORTH RICHLAND HILLS, TEXAS ~ Present: MINUTES OF THE PRE-COUNCIL MEETING OF THE CITY OF NORTH RICH LAND HILLS, TEXAS HELD IN THE PRE-COUNCIL ROOM AT CITY HALL, 7301 NORTHEAST LOOP 820 - MAY 12, 1997 - 5:45 P.M. Tommy Brown Mack Garvin Lyle E. Welch Frank Metts, Jr. Jo Ann Johnson Don Phifer Byron Sibbet Cheryl Cowen Lyman C.A. Sanford Randy Shiflet Larry Cunningham Patricia Hutson Rex McEntire Greg Dickens Barry LeBaron Larry Koonce Jim Browne Pam Burney Terry Kinzie Jerry McGlasson Richard Albin Mayor Councilman Councilman Councilman Councilwoman Councilman Mayor Pro T em Councilwoman City Manager Assistant City Manager Assistant City Manager City Secretary Attorney Public Works Director Planning/Inspection Director Finance Director Parks & Recreation Director Environmental Services Director Information Services Director Police Chief City Engineer ITEM DISCUSSION ASSIGNMENT POLICE Chief McGlasson presented the Police CHIEF MCGLASSON DEPARTMENT Department's Quarterly Report to the Council QUARTERL Y (copy attached). City Manager Sanford REPORT - CHIEF advised that, with the Council's consent, in MCGLASSON the future the report would be presented semiannually. The presentation would also be videoed separately and shown on Cable T.V. The City Council was in agreement. PRESENTATION Mayor Brown advised the Women's Shelter P. HUTSON BY WOMEN'S had requested that this item be rescheduled SHEL TER to the June 9 Pre-Council meeting. Pre-Council Minutes May 12, 1997 Page 2 ITEM DISCUSSION ASSIGNMENT HIGHTOWER Mr. Sanford briefed the Council on the B. LEBARON DRIVE, SECTION requirements for dedication of Hightower "0" Drive right-of-way. Mr. Sanford advised that someone recently purchased Tract B and the purchaser has requested that Council consider removing Hightower Drive from the Master Thoroughfare Plan. Mr. Sanford recommended that if Council was interested in removing Hightower Drive from the Master Thoroughfare Plan, they refer the matter to the Planning and Zoning Commission for their recommendation. The consensus of the City Council was to forward the request to the Planning and Zoning Commission for their recommendation. CONSIDER Mayor Pro Tem Sibbet advised that he would B. LEBARON MORATORIUM ON like to create a committee consisting of Barry ISSUANCE OF LeBaron, Rex McEntire, the Chair from the BUILDING Planning & Zoning Commission, and two PERMITS FOR Council Members to look at upgrading the MUL TI-FAMIL Y apartment regulations in the Zoning DWELLINGS Ordinance. Mayor Pro Tem Sibbet advised that he did not want a moratorium issued, but wanted the ordinance reviewed. APPOINTMENT OF Mayor Brown recommended that NAN REPRESENTATIVE Councilwoman Johnson continue to be the TO NCTCOG City's representative to the Council of Governments. Mayor Brown advised that at the next Council P. HUTSON meeting he will present a list of Committee appointments for Council's consideration. Pre-Council Minutes May 12, 1997 Page 3 I ITEM I DISCUSSION I ASSIGNMENT I TRANSITIONAL There were no questions from the Council. HOUSING FOR THE INDIGENT (REQUEST OF OPEN ARMS HOME, INC) - ORDINANCE NO. 2201 AND TRANSITIONAL HOUSING FOR THE INDIGENT (REQUEST OF COMMUNITY ENRICHMENT CENTER) - ORDINANCE NO. 2202 RETIRING Council consensus was to host a reception for P. HUTSON COUNCIL the two retiring Council Members. The City Manager was instructed to plan the reception. GREEN VALLEY Staff advised the Council that the soccer NAN COMMUNITY PARK complex turf has high usage by two soccer AND SOCCER associations. The turf needed to be reseeded COMPLEX TURF and Staff was recommending the use of Tif IMPROVEMENT 419 Bermuda sod, the same sod used at the PROGRAM Iron Horse Golf Course. Staff answered Councilwoman Johnson's questions regarding the Mid-Cities Landscape account and the Supplemental Funds account. ._~----_._,.~--_._-_..- .. --~-"--,----~-"--'-.__..,.._-----'- --_.,-_.~-~~._.__._-_._----"-~_._'---_._- Pre-Council Minutes May 12, 1997 Page 4 ITEM DISCUSSION ASSIGNMENT AWARD Staff advised Council that one goal of the NAN PROPOSAL FOR Information Services Department was to MUNICIPAL AND increase revenue on all of the pay phones in INMATE PAY the city buildings. This contract would PHONE SERVICE increase revenue and place all the pay phones under one company. Some of the revenue will be used to replace the PBS. CONSIDER Assistant City Manager Cunningham briefed L. CUNNINGHAM APPROVAL OF the Council on the components of the SOLID WASTE proposed contract with Laidlaw Waste FRANCHISE AND Systems. Staff addressed the letter the AGREEMENT WITH Council received from IESI. The City LAIDLAW WASTE Manager informed the Council that to SYSTEMS - accommodate IESl's offer for a six-day week ORDINANCE NO. pickup, the entire contract would need to be 2203 rebid. The City Manager advised Staff had followed the direction of the Council in requesting proposals for a two-day week pickup. The consensus of the Council was that they wanted a two-day a week pickup as they had originally directed Staff, and they each supported Staffs recommendation. Councilwoman Lyman recommended that Council add a provision to the contract that pickups would not be allowed after 7:00 p.m. Councilwoman Lyman questioned how the pick up would be handled after a holiday. Staff advised Laidlaw representatives could address the issue at the regular meeting. PROFESSIONAL There were no questions from Council. SERVICES CONTRACT- NORTH HILLS MALL MUL TI-USE TRAIL Pre-Council Minutes May 12, 1997 Page 5 ITEM DISCUSSION ASSIGNMENT OTHER ITEMS Mayor Brown suggested that the Council P. HUTSON consider changing the City Council meetings to Tuesday night and requested that they let him know their thoughts. Mr. Sanford passed out a list of scheduled L. KOONCE meetings for the 1997/98 budget year. He asked that the Council, for budget purposes, let the City Secretary know which meetings they planned to attend and any other meetings they would like to attend next budget year that were not on the list. REMINDER: Mayor Brown informed the Council that the NAN CANCELLATION next Council meeting would be canceled due OF MAY 26,1997 to the Memorial Day Holiday. CITY COUNCIL MEETING Agenda Item No. 15- GN 97-39 - B. LEBARON Councilwoman Johnson advised the Council of her concerns about the aluminum wiring being included in the adoption of the 1996 Electrical Code. Staff answered Councilwoman's Johnson questions. After discussion by the Council, the consensus was to remove this item from the Consent Agenda and consider approval retaining the language in the present ordinance limiting the use of aluminum wiring. ADJOURNMENT Mayor Brown announced at 7:02 p.m. that the Council would adjourn to Executive Session for consultation with the City Attorney as authorized by the Government Code Section 551.071 for deliberation regarding pending .. . .. ATTEST: Patricia Hutson - City Secretary Pre-Council Minutes May 12, 1997 Page 6 Tommy Brown - Mayor MINUTES OF THE REGULAR MEETING OF THE CITY COUNCIL OF THE CITY OF NORTH RICHLAND HILLS, TEXAS, HELD IN THE CITY HALL, 7301 NORTHEAST LOOP 820 - MAY 12, 1997 -7:30 P.M. 1. CALL TO ORDER Mayor Brown called the meeting to order May 12, 1997 at 7:30 p.m. ROLL CALL Present: Tommy Brown Byron Sibbet Mack Garvin Lyle E. Welch Frank Metts, Jr. JoAnn Johnson Don Phifer Cheryl Cowen Lyman Staff: C.A. Sanford Randy Shiflet Larry Cunningham Patricia Hutson Rex McEntire Greg Dickens Mayor Mayor Pro T em Councilman Councilman Councilman Councilwoman Councilman Councilwoman City Manager Assistant City Manager Assistant City Manager City Secretary Attorney City Engineer 2. I NVOCA TION Mayor Pro Tern Sibbet gave the invocation. 3. PLEDGE OF ALLEGIANCE 4. MINUTES OF THE PRE-COUNCIL MEETING APRIL 28,1997 APPROVED Councilwoman Johnson moved, seconded by Councilman Phifer, to approve the minutes of the April 28, 1997 Pre-Council Meeting. City Council Minutes May 12, 1997 Page 2 Motion carried 7-0. 5. MINUTES OF THE REGULAR MEETING APRIL 28, 1997 APPROVED Councilman Phifer moved, seconded by Mayor Pro Tem Sibbet, to approve the minutes of the April 28, 1997 City Council Meeting. Motion carried 7-0. 6. MINUTES OF THE SPECIAL MEETING MAY 5, 1997 APPROVED Mayor Pro Tem Sibbet moved, seconded by Councilwoman Johnson, to approve the minutes of the May 5, 1997 Special Council Meeting. Motion carried 7-0. 7. PRESENTATIONS BY BOARDS & COMMISSIONS A. INVESTMENT COMMITTEE MINUTES No action necessary. 8. PRESENTATION OF PROCLAMATION BY MAYOR BROWN 1. HERITAGE DAY Mayor Brown presented the Historical Committee Chairman, Ms. Evalyn Lochridge, and members of the Historical Committee with a proclamation in recognition of Heritage Day, May 16, 1997, in North Richland Hills. 2. NATIONAL PUBLIC WORKS WEEK Mayor Brown presented Public Works Director Greg Dickens with a proclamation in recognition of May 18-24, 1997 as National Public Works Week. Mr. Dickens invited the Council to come watch the Public Works employees compete at the Equipment Rodeo on May 23, 1997. City Council Minutes May 12, 1997 Page 3 9. PRESENTATION TO COUNCIL BY ELNA VANDERBERG, EXECUTIVE DIRECTOR, OPEN ARMS HOME Ms. Elna Vanderberg, Executive Director of Open Arms Home, presented the Mayor, Council and City Manager with a plaque for commitment and dedication to the Abused Women and Children of Open Arms Home and thanked them for the city's generosity and continued support since 1988. 10. REMOVAL OF ITEM(S) FROM THE CONSENT AGENDA Councilwoman Johnson removed Item No. 15. 11. CONSENT AGENDA ITEM(S) INDICATED BY ASTERISK (16, 17, 18, 19,20,21,22,23,25 & 26) APPROVED Councilman Garvin moved, seconded by Councilman Metts, to approve the Consent Agenda. Motion carried 7-0. 12. PZ 97-11 - PUBLIC HEARING FOR RECONSIDERATION OF SPECIAL USE PERMIT NUMBER 22, ISSUED TO "OK SOD" FOR A TEMPORARY OFFICE TRAILER ON LOT 18C, BLOCK 18, CLEARVIEW ADDITION. (LOCATED AT 51 02 DAVIS BOULEVARD). ORDINANCE NO. 2206 DENIED Mayor Brown opened the Public Hearing and called for anyone wishing to speak for or against the reconsideration to come forward. There being no one wishing to speak Mayor Brown closed the Public Hearing. Mayor Brown asked if this business had been given 18 months to build a building. City Manager Sanford informed the Council that the business needed 18 months to decide whether or not this was a viable enterprise and that the time was up. City Council Minutes May 12, 1997 Page 4 Councilwoman Johnson moved, seconded by Councilman Phifer, to deny PZ 97-11. Mayor Brown asked Mr. Kevin Keck, owner and President of OK Sod, to come forward and address the Council. Mr. Keck asked the Council to reconsider extending the special use permit for 12 months. Councilwoman Johnson advised she felt 18 months was sufficient time. Councilman Garvin asked Councilwoman Johnson to amend her motion to give the business six months to vacate the premises. Councilwoman Johnson amended her motion, seconded by Councilman Phifer, to deny PZ 97-11 and grant the applicant six months to discontinue operation under the existing Special Use Permit. Motion carried 6-1; Councilwomen Johnson and Lyman, Mayor Pro Tem Sibbet, and Councilmen Metts, Garvin, and Phifer voting for and Councilman Welch voting against. 13. PZ 97-16 - PUBLIC HEARING TO CONSIDER THE REQUEST OF JOHN BARFIELD FOR REZONING FROM AG AGRICULTURAL & 0-1 OFFICE TO R-2 SINGLE FAMILY RESIDENTIAL, ON ALL OF TRACTS 8B, 8B1A & PARTS OF 8C& 8C3, S. RICHARDSON SURVEY, A-1266 & ALL OF TRACTS 5E1A & 5E W.L. NEWTON SURVEY, A-1182. (LOCATED WEST OF PRECINCT LINE ROAD & EAST OF THORNBRIDGE DR.) ORDINANCE NO. 2199 APPROVED Mayor Brown opened the Public Hearing and called anyone wishing to speak to please come forward. Mr. Owen Douglas Long, applicant, appeared before the Council and spoke in favor of his request. Councilman Garvin expressed concerns about the entrance and exits of this subdivision and the tying of all of Thornbridge together. City Council Minutes May 12, 1997 Page 5 Mr. Long informed the Council that the entrance would be on Precinct Line Road north of the existing trailer park and that all phases of Thornbridge would be tied together with the completion of Phase 5. There being no one else wishing to speak Mayor Brown closed the Public Hearing. Councilman Garvin moved, seconded by Mayor Pro Tem Sibbet, to approve PZ 97-16. Motion carried 7-0. 14. PZ 97- 17 - PUBLIC HEARING TO CONSIDER THE REQUEST OF JOHN BARFIELD FOR REZONING FROM 0-1 OFFICE & R-3 SINGLE FAMILY RESIDENTIAL TO R-2 SINGLE FAMILY RESIDENTIAL ON PARTS OF TRACTS 9 & 9A, S. RICHARDSON SURVEY, A-1266. (LOCATED SOUTH OF THORNBERRY DR. & HAVING THORNHILL DR. ENTER ITS NORTHWEST SIDE) ORDINANCE NO. 2200 APPROVED Mayor Brown opened the Public Hearing and called for anyone wishing to speak to please come forward. Mr. Owen Douglas Long, applicant, appeared before the Council and spoke in favor of his request. There being no one else wishing to speak Mayor Brown closed the Public Hearing. Councilman Metts expressed concerns that the 2500 square foot deed restrictions on the houses needed to be continued. Councilman Garvin moved, seconded by Councilman Metts, to approve PZ 97-17. Motion carried 7-0. 15. GN 97- 39 - CONSIDER AMENDING THE CITY'S ELECTRICAL CODE TO ADOPT THE 1996 EDITION OF THE NATIONAL ELECTRIC CODE - ORDINANCE NO. 2198 APPROVED City Council Minutes May 12. 1997 Page 6 Councilwoman Johnson moved, seconded by Mayor Pro Tem Sibbet, to approve Ordinance No. 2198, retaining the same language as Ordinance No. 1781 limiting the use of aluminum wiring. Motion carried 7-0. *16. GN 97- 42 - TRANSITIONAL HOUSING FOR THE INDIGENT - ORDINANCE NO. 2201 APPROVED *17. GN 97- 43 -TRANSITIONAL HOUSING FOR THE INDIGENT- ORDINANCE NO. 2202 APPROVED *18. GN 97- 49 - RETIRING COUNCIL APPROVED *19. GN 97- 50 - REPEAL ORDINANCE NO. 1680 AND RENAME LEWIS DRIVE TO DICK LEWIS DRIVE - ORDINANCE NO. 2204 APPROVED *20. GN 97- 51 - GREEN VALLEY COMMUNITY PARK AND SOCCER COMPLEX TURF IMPROVEMENT PROGRAM APPROVED *21. PU 97- 41 - RENEWAL OF NRH20 LIABILITY INSURANCE CONTRACT APPROVED *22. PU 97- 42 - AWARD BID FOR 19/97 STREET WEDGE MILL PROJECT APPROVED City Council Minutes May 12,1997 Page 7 *23. PU 97- 43 - AWARD PROPOSAL FOR MUNICIPAL AND INMATE PAY PHONE SERVICE APPROVED 24. PU 97- 44 - CONSIDER APPROVAL OF SOLID WASTE FRANCHISE AND AGREEMENT WITH LAIDLAW WASTE SYSTEMS - ORDINANCE NO. 2203 APPROVED Councilwoman Johnson moved, seconded by Councilman Garvin, to approve Ordinance No. 2203 with the provision added that the contractor will not pick up after 7:00 p.m. Motion carried 7-0. *25. PU 97- 45 - PROFESSIONAL SERVICES CONTRACT - NORTH HILLS MALL MULTI-USE TRAIL APPROVED *26. PU 97- 46 - AUTHORIZE PURCHASE OF A HAZARDOUS HOUSEHOLD WASTE COLLECTION TRAILER THROUGH CITY OF ARLINGTON BID APPROVED 27. CITIZENS PRESENTATION A. IR 97-51 - Request to Close One Entrance to Galway Lane City Manager Sanford informed the Council that a representative of Galway Lane had submitted a petition requesting that the City close one end of their street. Staff has checked with the Fire and Police Departments and staff felt there was not a problem with granting this request. Ms. Sandy Archer, representing residents on Galway Lane, spoke in favor of the closing of Galway Lane. City Council Minutes May 12, 1997 Page 8 The Council directed the City Manager to place an item on the next agenda to close this street. The Mayor asked if there was anyone else that wished to address the Council to please come forward. Mr. Mickey Flood, President of IESI, addressed the Council about his concerns regarding the solid waste franchise proposals. Mr. Flood advised his company would be amenable for further discussion. 28. ADJOURNMENT Mayor Brown adjourned the meeting. Tommy Brown - Mayor ATTEST: Patricia Hutson - City Secretary CITY OF NORTH RICHLAND HILLS Department: Planning and Inspections Council Meeting Date: 6/09/97 '-- Subject: Public Hearing to Consider the Request of Pao Ly to Rezone a Agenda Number: PZ 97-18 Portion of Tract 18A5, S. Richardson Survey, A-1266 from AG Agriculture to R-1-S Special Single Family Residential. (Located 8805 Rumfield Road) Ordinance No. 2207 Pao Ly is the owner of Tract 18A5, S. Richardson Survey, A-1266, located at 8805 Rumfield Road. The property is approximately 2.89 acres in size and is currently zoned AG Agricultural. The applicant proposes to rezone approximately 1.4045 acres of this tract, as identified by the metes and bounds description, to R-1-S Single Family Residential. The applicant is currently in the process of having the property platted. The applicant proposes to build a house on the property after completing the platting process. The property to the north, south, east, and west of the applicant's property is zoned AG Agricultural. The Comprehensive Land Use Plan shows this property and the area around it to be used for low density residential development. } The Planning and Zoning Commission conducted a public hearing and considered this request at its May 8, 1997, meeting and recommended approval. ". I RECOMMENDATION: I ~ It is recommended that the City Council conduct the required Public Hearing and consider the recommendation of the Planning and Zoning Commission. Source of Funds: Bonds (GO/Rev.) Operating Budget Other Finance Review Account Number Sufficient Funds Available ~~ partment Head Signature CITY COUNCIL ACTION ITEM ,Finance Director NRH APPLICATION FOR A ZONING DISTR.lCT CHANGE City of North Rich land Hills 7301 NE Loop 820 North RichJand Hills. ï~xas (PleaH ;orin! or:y;>e all res;>cnses 817-581·5500 r I PART 1. APPLICANT INFORMATION Name 0; applicant / agent: VA 0 L-~ Street address of applicant / agent: I~ 14- LANGStON City / State / Zip Code of applicant / agent: Telephone number of applicant / agent: FOe.T LúJ!l.ì11 TX 7&105 5~f.o - 4-30:1 PART 2. PROPERTY INFORMATION Street address at location where zoning district change is being requested: ~O5 KuM PI ELD «.Ò. tVM T H R rCHf..A.I.JD H lLS TX . Legal Descn'ption of Property where zoning district change 1s being requested: I 1 . L)O'-/ '5 AC. OOT D;= THE. S· KIC.HAlLi'SOt-.:) S1)~ A - /2tolo ,.~+ tß.~- 2.it:t At" Current zoning cJassification: Proposed zoning cJassification: Proposéd use of the property: A6 R-I-s SF æës.,lk"''+14 . Reason for zoning district change: In. l~ Le~ s t+&rv Z Ac. - SUf1leY or map attached as required by application: Afflda~'¡t attached from property owner ;( applicant is not owner: Œ:] Yes DNa [J Yes ŒCJ No PART 3. PROPERTY OWNER INFORMATION Name of property owner: Street address of property owner: City / State / Zip Code of property owner: Telephone number of property owner: Note: Attach letter or affidavit from property owner ;( different from applant / agent: I hereby cel'tify that I am, or reptflsent. the legal owner of the property L/- 7-.9 7 described aboW! and do hereby submit this request for approval of a Date: zoning district change to the Planning and Zoning CommiS3ÍOn for CtJfISÍderation. Print Name: -PAD L'¡ Signature: ~~ PART 4. FOR OFFICE USE ONL Y Date of Planning & Zoning Commission Public Hearing: Taxes Paid? Case Number: t'A~ 'ð I I c¡t{1 I vr YE'S II No ()~ q-¡ - ('8 ---.... Date of City Council Public Hearing: Fee: Œ'YE'S DNO Zoning District Change Approved: Qa<,s $300.00 DYes DNa DNO CcndroOns of Appro.., This application witl not be scheduled for public hearing until applation fee is received. l 4. PZ B7-18 PUBLIC HEARING TO CONSIDER THE REQUEST OF PAO L Y FOR REZONING FROM AG AGRICULTURAL TO R-1-S SINGLE FAMILY RESIDENTIAL, ON PART OF TRACT 1BA5, S. RICHARDSON SURVEY, A- 1266. (LOCATED AT flB05 RUMFIELD ROAD) APPHOVED Mr. LeBaron explained that Mr. Ly is requesting to rezone approximately 1.4 acres of the 2.9 he owns at 8805 RumfiE!ld Road to build a home. The entire tract is currently zoned AG Agriculture and Mr. Ly's request is for the west 1.4 acres to be changed to R-1-S. Mr. LeBaron stated this does coincide with the Comprehensive Land Use Plan of the City. Chairman Barfield opened the public heé3ring and asked any proponents to come forward. } f There being none, Chairman Barfield called for any opponents. There being none the public hearing was closed. / In response to a question, Mr. LeBaron stated that a preliminary plat had been submitted and that Mr. Ly is only rezoning and platting the portion of the property that he wants to build his home on. The remainder of the property will remain AG Agriculture. Mr. LeBaron stated that Mr. Ly was aware he could rezone the entire tract of land, but chose to leave tht3 remainder zoned AG. Mr. Davis made the motion to approve PZ 97-18 as requested. Mr. Owen seconded the motion and it carried 7 - O. 5. . Samsill is requesting a zonin ange on his property from R-2' Family Residen1tial to C-2 Commercial. Samsill has provided an a It stating that Mr. Hug!~ins can represent him on toning change r st. It is staff's assumption that Mr. Huggins intention, if th cha s approved, is to purchase Mr. Samsill's property and expand his ershi . 2 ~.~ ! (\'~- t'- __~~ ) ~--::- - It' ~ ) í : i .J:I --,-__: ,¡ : : : : ......:-1 : '1 . .' : : '" .....-. ~4:r-- ..: 1\ >- S M I T If _~_,._+. ;\ c·.; ~:: -7-- ..: E ¡ ¡ ¡ ; .~: ·.t·~;¡ ., ~ b i " ;; ¡ .. :: - "'f":"L ~~ ....} ..:-~~-- .. i j..~.'f.'\' -"0 ~'----;"_-...I .. : I' ... .. .'":L.1~i::-"''''''' ., =?.. ~ , : :. :::: . ~ ~_. .J' . ...~. / 0: ....... , \ : ¡ ./ / . ¡ l' :... . R~2- I 1 ¡ OS 0 ELI I <: ( ;--': ,> l.---L- - j-o / ¡ I ¡:: .' -: " II, ¡: ,~",; 1 ;:. ~ f¡ ¡ ! ¡ %J ;..". \ 0 I \.. ., - R'-3-1800 . -;'.,-;1-_'- I I· I::' ¡ '. \-:?:~ I " , . 1 : / '#"':'It, ~.. It ~ , : "/ i : "' : .. \ ., .. ~...!... ---- , l.··· " ::~,4" \ ;/'1 :. ".~ J ! .f: -." I t··· ·2 --, :0~ ! ,., ~ ~O 1 -~- :...0 If ! t~1J : i - -T"') ..... Jo/. '. i · f · .-i--H ~ ,..! I J tl: "': ~ y---¡ ~ I ; 11 ~ '4 ~ ''It ~ ¡".L i:J > 1~IR_1 - ! I·· ..e ¡ . 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II ~ -.I ~ J ~(, I .oe(.', ~ ~ - ï..;¡::- I I'--F." tI. n · bL 4 · ~k ......,...:.. ~ ~, .., 'I 1'_'-;<41' ~.u. :litiSlf '111J · J · 'i' ' " ,...! I ' I : ! i' -,\.. ..! ,,,I ,. " i "I" \ i ... ..', I ; i ! I !!, . .f,IRTf . I \ J I' \ ·1 .. i .\ '1 · \ · i .~ I.. ! I' , , II 2 !\ ' \ . I '\'11 , \, \ ;...\: "\..1·, : 'I ...-r..". I I ~.. J A :J' U 'V ç -¡:. ".~. ';o....:,:(......,--,'\-;q 1 II I ~.\ ::-;;~ ~;p: ., I .j '-:' U ,.! ui J:I ,.\,:,...¡ J ,,; \ i...W1 ., ~t-.J_...¡ ..~. , \ - .... '..... ,,:.\.. "'/'~" J~ . ,I. '¡1 ..... .4.. \..~/,,}'" :'I ^G -( \\~~\ I' '/ ../ -T~ "'~,2:', h..J:', Ma ren 22, .1 qq3 · ORDINANCE NO. 2207 '. AN ORDINANCE REZONING PROPERTY IN ACCORDANCE WITH ARTICLE 2, SECTION 200, OF ZONING ORDINANCE NUMBER 1874, PASSED, APPROVED AND ADOPTED BY THE CITY COUNCIL ON MARCH 22, 1993; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City has received a request for a change in zoning district boundaries; and WHEREAS, after appropriate notice and public hearing, the Planning and Zoning Commission of the City of North Richland Hills, Texas, has forwarded a recommendation to the City Council for amendment of Ordinance No. 1874 and the Official Zoning Map by rezoning certain prOpE!rty as set forth herein; ~ NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF NORTH RICHLAND HILLS, TEXAS: I ./ 1. THAT, in Case Number PZ 97-18, the following described property shall be rezoned from AG Agricultural to R-1-S Special Single Family Residential: SITUATED in the City of North Richland Hills, Tarrant County, Texas and being a tract of land out of the S. Richardson Survey, Abstract No. 1266, said tract being a portion of a parcel of land conveyed to Pao Ly and May Vang Ly (Ly tract) by deed as recorded in Volume 9799, Page 1158 of the Deed Records of Tarrant County, Texas (D.R.T.C.T.), said tract being herein more particularly described by metes and bounds as follows: BEGINNING at a 1/2" iron rod set at the southwest property corner of the said Ly tract and the existing easterly right-of-way line of Eden Drive, said point also being the northwest property corner of a tract of land conveyed to Arnold Davis Jr. by deed as recorded in Volume 6748, Page 1850 of the D.R.T.C.T.; THENCE, North 00 degrees 31 minutes 32 sE~conds East, along the westerly property line of the said Ly tract and in part along the E~xisting easterly right-of-way line of the said Eden Drive, at 15.00 feet passing an iron rod at southeast property corner of a tract of land èonveyed to O.G. Tobias and Linda Tobias by deed as recorded in Volume 7454, Page 275 of the D.R.T.C.T., continuing in all 320.25 feet to an iron found at the northwest property corner of the said Ly tract" said point also being the southwest property corner of a tract of land conveyed to Charles V. Palachek and Vivian Palachek by deed as recorded in Volume 3856, page 552, of the D.R.T.C.; Ordinance No. 2207 Page 1 · ORDINANCE NO. 2207 . AN ORDINANCE REZONING PROPERTY IN ACCORDANCE WITH ARTICLE 2, SECTION 200, OF ZONIING ORDINANCE NUMBER 1874, PASSED, APPROVED AND ADOPTED BY THE CITY COUNCIL ON MARCH 22,1993; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City has received a request for a change in zoning district boundaries; and WHEREAS, after appropriate notice and public hearing, the Planning and Zoning Commission of the City of North Richland Hills, Texas, has forwarded a recommendation to the City Council for amendment of Ordinance No. 1874 and the Official Zoning Map by rezoning certain property as set forth herein; ~ NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF NORTH RICHLAND HILLS, TEXAS: I i 1.. THAT, in Case Number PZ 97-18, the following described property shall be rezoned from AG Agricultural to R-1-S Special Single Family Residential: SITUATED in the City of North Richland Hills, Tarrant County, Texas and being a tract of land out of the S. Richardson Survey, Abstract No. 1266, said tract being a portion of a parcel of land conveyed to Pao Ly and Ma~' Vang Ly (Ly tract) by deed as recorded in Volume 9799, Page 1158 of the Deed Records of Tarrant County, Texas (D.R.T.C.T.), said tract being herein more particularly described by metes and bounds as follows: BEGINNING at a 1/2" iron rod set at the southwest property corner of the said Ly tract and the existing easterly right-of-way line of Eden Drive, said point also being the northwest property corner of a tract of land conveyed to Arnold Davis Jr. by deed as recorded in Volume 6748, Page 1850 of the I).R.T.C.T.; THENCE, North 00 degrees 31 minutes 32 s ~conds East, along the westerly property line of the said Ly tract and in part along the ~xisting easterly right-of-way line of the said Eden Drive, at 15.00 feet passing an iron rod at southeast property corner of a tract of land conveyed to O.G. Tobias and Linda Tobias by deed as recorded in Volume 7454, Page 275 of the D.R.T.C.T., continuing in all 320.25 feet to an iron found at the northwest property corner of the said Ly tract, said point also being the southwest property corner of a tract of land conveyed to Charles V. Palachek and Vivian Palachek by deed as recorded in Volume 3856, page 552, of the D.R.T.C.; Ordinance No. 2207 Page 1 THENCE, South 89 degrees 08 minutes 33 s€'conds East, along the northerly property line of the said Ly tract and the southerly prOpt3rty line of the said Palachek tract, 192.32 feet to a 1/2' iron rod set for corner; THENCE, South 00 degrees 31 minutes 32 seconds West 316.02 feet to a 1/2' iron rod set for corner on the southerly property line of the said Ly tract and northerly property line of the said Davis tract; THENCE, South 89 degrees 35 minutes 45 seconds West, along the said property lines, 192-34 feet to the POINT OF BEGINNING containing 1.4045 acres (61,182 square feet) of land more or less. 2. ~ I THAT, the Official Zoning Map be redrawn to incorporate this zoning district boundary amendment and the herein described ordinance number be affixed to the property described herein. l 3. SEVERABILITY CLAUSE. That it is hereby declared to be the intention of the City Council that the section, paragraphs, sentences, clauses and phrases of this ordinance are severable, and if any phrase, clause, sent43nce, paragraph or section of this ordinance shall be declared invalid or unconstitutional by the valid judgment or decree of any court of competent jurisdiction, such invalidity or unconstitutionality shall not affect any of the remaining phrases, clauses, sentences, paragraphs or sections of this ordinance, since the same would have been enacted by the City Council without the incorporation in this ordinance of any such invalid or unconstitutional phrase, clause, sentence, paragraph or section. 4. EFFECTIVE DATE. This ordinance shall be in full force and effect from and after its passage. APPROVED BY THE PLANNING AND ZONING COMMISSION THIS 8th DAY OF MAY 1997. ~ Chairman, Planning and Zoning Commission Ordinance No. 2207 Page 2 ~~;;/~~ Secretary, Planning and Zoning Commission PASSED AND APPROVED BY THE CITY COUNCIL THIS 9TH DAY OF JUNE 1997. ATTEST: ~ ¡ City Secretary City of North Richland Hills, Texas I ,. APPROVED AS TO FORM AND LEGALITY: Attorney for the City Ordinance No. 2207 Page 3 Mayor City of North Richland Hills, Texas CITY OF NORTH R/CHLAND HILLS ',,- Department: Planning and Inspections Council Meeting Date: 6/09/97 Subject: Request of Timothy Samsill for an Appeal Hearing regarding the Agenda Number: PZ 97-19 Rezoning of Lot 6, Block 4, Richland Terrrace Addition from R-2 Single Family Residential to C-2 Commercial. (Located at 4704 Susan Lee Lane.) Timothy Samsill is the owner of Lot 6, Block 4, in the Richland Terrace Addition, located at 4704 Susan Lee Lane. The applicant has authorized E.G. Huggins to act CIS his agent in this matter. The applicant submitted a request to rezone the property from R-2 Residential to C-2 Commercial. The Planning and Zoning Commission considered this request at its May 8, 1997 meeting. The request was denied by 7-0 vote. Section 200 of the Zoning Ordinance states that all zoning cases denied by the Planning and Zoning Commission can be heard by the City Council only after the City Council has approved an appeal request. The request for an appeal must be submitted in writing within 10 days of the Planning and Zoning Commission's hearing date. Attached is a letter from Harrison, Steck, Hoover, and Drcake P.C., representatives of E.G. Huggins, requesting that the City Council consider this case. The earliest datE~ this case can be heard by City Council is July 14, 1997. } , I RECOMMENDATION: I I It is recommended that the City Council consider setting a Public Hearing date of July 14, 1997, for considering this rezoning request. '-- Source of Funds: Bonds (GO/Rev.) Operating Budget Other Account Number Sufficient Funds Available '-- \f3~ tß~ ~ l>epartment Head Signature CITY COUNCIL ACTION ITEM ,Finance Director anager HARRISON STECK HOOVER & DRAKE, P.C. 2400 Bank One Tower 500 Throckmorton Street Fort Worth, Texas 76102 Stephen D. Harrison Telephone: (817) 348-0400 Metro: (817) 429-7070 Telecopier: (817) 348-0406 May 13, 1997 Mr. Barry LeBarron Director of Planning Department City of North Richland Hills 7301 NE Lop 820 North Richland Hills, Texas VIA FACSIMILE: 656-7538 and Regular Mail r , Re: Change in Zoning from Residential to Commercial for Lot 6, Block 4, Richland Terrace Addition, an Addition to the City of North Richland Hills, Tarrant County, Texas I Dear Mr. LeBarron: As you are aware from the presentation at the request for the above-referenced change in zoning, this finn represents Timothy Samsill. On behalf of Timothy Samsill, I herewith request that the decision of the Planning and Zoning Commission on May 8, 1997, to deny the zoning change request be appealed to the City Council. Please place this matter for the City Council's consideration at the next scheduled council meeting. Please also advise me if there are any other fees, costs, or notices which should be supplied to perfect this appeal to the City Council. ~I\ - - \ \ Stephe . Hanison --===---- --- SDH/mai cc: Mr. Timothy Samsill 4704 Susan Lee Lane North Richland Hills, Texas 76180-6884 G:lclicntslP Q R SlPEARSON\Samsilllcom:slPlanning Dept-City ofNRHOS1397,wpd THE ST ATE OF TEXAS COUNTY OF T ARRAL"\¡"T § § § BEFORE ME, the undersigned authority, on this day personally appeared Timothy D. Samsill, who upon his oath deposed and stated as follows: "My name is Timothy D. Samsill. I am over the age of 18 and am competent to make this affidavit. ? , "I am the owner of Lot 6, Block 4, Richland Terrace Addition. I reside at 4704 Susan Lee Lane, North Richland Hills, Texas 76180-6884. I herewith authorize E. G. Huggins in requesting a zoning district change for my property ITom residential, R-2, to commercial, C-2, and grant E. G. Huggins authorization to act as my authorized agent in making the application for this zoning district change and for taking all actions which may be required ~~ TIMOTHY D. SAMSILL SUBSCRIBED AND SWORN TO on this #¡{day of April, 1997, to which witness my hand and seal of office. I / /fclfd( 1"f~ Notary Public in and for the State of Texas My Commission expires: Printed name of Notary: G:lcliCtlISIG H !\HUGGINSlzoninglpleadingslsamsillaffidavit031097.wpd ( ~~ TCII .-- ,. ...f'· ..... t·····-··· , jj \ '0 ....,,-. j'--'''- \1 ': ,,¡ " ..; ;.f~;.-=' ~ í. \~\..;,\,. . : ";10.".<,. ,'.. ~"i ....1....(j- ,~~.'.J \.;... '.! : c:..C.\:~ ,.. - r-. 1J(.~ ") 1"'''\ R-2 '''--"'f Ii ¡ 7 \ ' ! \ :J ~ \. ,n . ; , , . ~ ¡ . ~'--- J ¡ I ) t I ~o i O.¡O I <9':>0 ! \ \ - \ t- \ . \ \' \ \ \ -...·..·t-...--.:._________.. Irr-=~T. .- . R-7- C \ -- Z· 0", c ~:\~~..~J 'R\';':tì'C~_\ l, \.. . ~., .,,~...,. \ ""\..:. Q,')~" %" c-" -(.- C-2 flUCT Itf i ;n.(' c....\\;.. .<,.. \0' co. .",," ..... '.,-~: ·&1) . '$"- (-.'----..... "- r. 'j"\ ¡ " .--- -J ,. t.¡ -.---- -r. 215 ~ _.~...... U"U'_ U ';."_ - Z7 - .." ) (':'Z1 f,'c \. ... ~ :\>:".JI ~~~~.'.)\Ž\~J 'i \.. ,\.- .øt.)t C-2 A· .-:(;\' . "\:'~":';:r'f" ./ ':.\~~~ ,- . . .. , ..", ".-..---<'" : '8 , ". , )"1 . , "- , I' ! .' ,,'\ -¡ . '\\'; na "~\~\J'." -...-........j ~..)",,,, ;.\\:1 Cr2 r¡_'.:._u. I J ';> ._:~.___ _u'_'_'" ~ ,- 2' 12 ~ ___._.__ -.---.-- JO " > CITY OF NORTH RICHLAND HILLS Department: Planning and Inspections Council Meeting Date: 6/09/97 '--- Subject: Public Hearing to Consider the Request of Bill Stimmel to Agenda Number: PZ 97-20 Rezone Tr. 2M2, M. Lynch Survey, A-953, from R-3 Single Family Residential to C-2 Commercial (Located at 6646 Harmonson Road) Ordinance No. 2208 Bill Stimmel is the agent for Joyce Pennington, owner of Tract 2M2, M. Lynch Survey, A-953. The property is located approximately 270 feet west of the Harmonson Road and Rufe Snow Road intersection. The property is currently zoned R-3 Single Family Residential. The applicant proposes to rezone it to C-2 Commercial. The applicant also owns the abutting property to the east of this tract, Tr. 2M3, which is zoned C-2 Commercial. The two tracts together equal approximately 1.258 acres, with Tr. 2M2 being a little less than half of that total. The proposed rezoning would allow the applicant to combine the two unplatted tracts into one common zoning designation . Both tracts are currently vacant and must be platted prior to issuance of any building permits or certificates of occupancy. The applicant has stated that the future proposed development of the property would be a lawn maintenance business. A lawn maintenance business would be allowed in C-2zoning. The property to the east, south, and west is zoned C-2 Commercial. The property to the north (across Harmonson Road) is zoned C-2 Commercial and R-3 Single Family Residential. 't The Comprehensive Land Use Plan shows this property and its immediate area to be used for commercial development. I I The Planning and Zoning Commission conducted a public hearing and considered this request at its May 8, 1997, meeting and recommended approval. ',,- RECOMMENDATION: It is recommended that the City Council conduct the required Public Hearing and consider the recommendation of the Planning and Zoning Commission. ''-I Source of Funds: Bonds (GO/Rev.) Operating Budget Other 'B~Jme~~aWre CITY COUNCIL ACTION ITEM Finance Review Account Number Sufficient Funds Available ~ ,Finance Director ORDINANCE 2208 AN ORDINANCE REZONING PROPERTY IN ACCORDANCE WITH ARTICLE 2, SECTION 200, OF ZONING ORDINANCE NUMBER 1874, PASSED, APPROVED AND ADOPTED BY THE CITY COUNCIL ON MARCH 22,1993; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City has received a request for a change in zoning district boundaries; and WHEREAS, after appropriate notice and public hearing, the Planning and Zoning Commission of the City of North Richland Hills, Texas, has forwarded a recommendation to the City Council for amendment of Ordinance No. 1874 and the Official Zoning Map by rezoning certain property as set forth herein; NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF NORTH RICHLAND HILLS, TEXAS: ? 1. I ; THAT, in Case Number PZ 97-20, the following described property shall be rezoned from R-3 Single Family Residential to C-2 Commercial. Tract 2M2, Mahaly Lynch Survey, A-953 (6646 Harmonson Road, North Richland Hills, TX.). 2. That the Official Zoning Map be redrawn to incorporate this zoning district boundary amendment and the herein described ordinance number be affixed to the property described herein. 3. SEVERABILITY CLAUSE. That it is hereby declared to be the intention of the City Council that the section, paragraphs, sentences, clauses and phrases of this ordinance are severable, and if any phrase, clause, sentence, paragraph or section of this ordinance shall be declared invalid or unconstitutional by the valid judgment or decree of any court of competent jurisdiction, such invalidity or unconstitutionality shall not affect any of the remaining phrases, clauses, sentences, paragraphs or sections of this ordinance, since the same would have been enacted by the City Council without the incorporation in this ordinance of any such invalid or unconstitutional phrase, clause, sentence, paragraph or section. Ordinance No, 2208 Page 1 4. EFFECTIVE DATE. This ordinance shall be in full force and effect from and after its passage. APPROVED BY THE PLANNING AND ZONING COMMISSION THIS 8th DAY OF MAY 1997. ~ ~ ~ C~¿~~n, Planning and Zoning Commission Secretary, Planning and Zoning Commission ? PASSED AND APPROVED BY THE CITY COUNCIL THIS 9TH DAY OF JUNE 1997. / Mayor City of North Richland Hills, Texas ATTEST: City Secretary City of North Richland Hills, Texas APPROVED AS 'TO FORM AND LEGALITY: Attorney for the City Ordinance No. 2208 Page 2 Please print all responses CITY OF NORTH ¡:;;CHLANO HILLS 7:>0 1 II. E, LOOP ð2Q NO¡:;TH ¡:;ICHLANO HIlJ..S, TEXAS 76180 a17·~1·551S ,APPLICATION FOR A ZONING DISTRICT CHANGE PART 1. APPLICANT INFORMATION NoIME OF oIPPUCANT loIGENT: ~ Jo c.e. leh'l;" -;"" (~f1et') STRE£T ADORESS OF APPUCANT: PO. (JO;< &7 t.f CITY IST...TE /ZIP OF ,o,pPUCANT: Sc./¿;..do IX 7~S7j pART 2. PROPERTY OWNER INFORMATION f3 I-I I S-f¡~ me I (/Î"-e,,-r 351- )¿,j-j) TELEPHONE NUMBER OF oIPPUCANT: gJ7- qi/7- gsot Ó~G' 30" Ý ~ 7¿' 5' .] /!J~'7'¡' NoIME OF PROPERTY OWNER: . Jo \ ce Pe.Y\Y1/ r. -10 h NER: STRE£T ADDRESS OF PROPERTY /,71 P.O. ()/Ji CITY /STATE /ZIP OF PROPERTY OWNER: Ser. /(it do Iy ;b571 TELEPHONE NUMBER OF PROPERTY OWNER: gn· c¡ If 7 - 8 sot r I LEGAL DESCRIPTION OF PROPERTY WHERE ZONING OISTRlCT CHANGE IS BEING REOtJESTED: /J1¿¡ A~'1y ¿y;,(~ ~/lIe/ A,/;s..¡ 95"3 7-€ðd o:l.h12 STRE£T ADDRESS AT LOCATION WHERE ZONING OISTRlCT CHANGE IS BEING REOUESTED: I ./ A/,~ý .3g 1'1 £~ s;;.,¿7¿..1 ¿ri -r~~ /Cû),.di ¿;..r ¿.¿.1/6 /:b,r/7/¿Jn $¿)'1 Rt:;( PART 3. DESCRIPTION OF REQUEST CI.R1'IENT ZONlNG:.If .3 PROPOSEO ZONING: C.;2. C/h,.""",(;,t:',¡ / PROPOSED USE OF PROPER r Y: L¿¡¿.¡.,.. p-,&",,, T~~" / ¿"J./'c: t' k J /;' rf f Ckff/ Xé¿;'~~;' 7.# /d4 HI:...sON FDR CHANGE: -;;;- J. ) . .J J /L/ ¿,,r/n( 7'~/..f 7r¿é7 - SU.1V¡¡Y DR MAP ATT ACHEO AS REOIJIREO BY THIS FORM: ATTACH AFFIOA vrT FROM PROPERTY OWNER IF APPUCANT IS NOT OWNER: c:::J YES c:::J NO DYES c::J NO DAfE: I ; ereby certify that the above information is correct to the best of my knowledge. 4/14{q+ f Your Name (printed) j'O Signature PART 4. OFFICE USE ONLY I' & z pusuc HEARING DATE: 5- '6 -e¡7 Clry COUNCIL HEARING OA TE: G,- Cf- '1"'" TAXES pAJ07 DYES 11::::./-;;'0 CASE NUMBER: 1'i: q7- z.O LIENS 1''''107 [BYES DNa FEE $300.00 lON/NG OISTRICT CHANGE ApROVEO: c:J YES c:J NO ORO, NO, ASSESSMENTS PAID? CP'Y'ES DNO TNS o1AJfIcadon """ _ CIO Cl\G:2J O( lOt ØUCfIC lIoarlng ...11 ... ~Ic.uon r.. Ie 'C.'AId. SJ/PULATlONS: ZONING DISTRICT CHANGE P"9'I' oI~ CD-044 (I·~) 6. PZ 97-20 PUBLIC HEARING TO CONSIDER THE REQUEST OF BILL STIMMEL FOR REZONING FROM R-3 SINGLE FAMILY RESIDENTIAL TO C-2 COMMERCIAL ON TRACT 2M2, M. LYNCH SURVEY, A-953. (LOCATED AT 6646 HARMONSON ROAD) APPROVED Mr. LeBaron explained this property is currently zoned R-3 Single Family but has commercial zoning surrounding it. He explained the applicant has stated that a Landscaping business is proposed for this location, if this request is approved. Chairman Barfield opened the public hearing and asked the applicant to come forward. ~ Mr. Bill Stimmel, Mike Bowman-Century 21 Realtors, presented this request. He stated that the buyer of the property does want to operate an lawncare and landscaping business from this location. ,/ Mr. Robert Kline, prospective buyer. stated that he would be placing his landscaping business at this location. There will be an office fronting on Rufe Snow. which will have the appearance of a home. There will be a front porch and overall country appearance. There will be a screening fence next. and behind this fence will be a storage area and green house. Mr. Kline has approximately 30 employees and 10 company vehicles that would be screened from view in the evenings. Chairman Barfield called for any additional proponents. Mr. C.R. Pennington, current owner of this property spoke in favor of this request. Chairman Barfield called for any additional proponents. There being none. Chairman Barfield called for any opponents. There being none, the hearing was closed. Mr. Lueck believes this is an area that is going to be re-developed and would personally prefer to see this property zoned C-1 with a Special Use Permit to allow this landscape business. Mr. Lueck feels the C-1 zoning category would leave the city with more control than the C-2 Commercial, referencing the "OK sod" problem. just recently resolved. Mr. Davis believes C-2 is compatible with the existing zoning in the area; he also questioned the type of fencing that would be used along Harmonson Road. 7 Because the residential homes are separated by Harmonson Road, the usually required masonry screening wall between commercial and residential properties is not required in this instance. Mr. Davis made the motion to approve PZ 97-20, provided a six foot cyclone fence with solid in-field panels along Harmonson Road be required. Mr. Bowen seconded the motion and it carried 6 - 1. Mr. Lueck was opposed to this motion. 7. P ING TO CONSIDER THE REQUEST OF E-SYSTE UST FOR REZONING FROM C-1 COMMERCIA R-7 ON PART OF BLOCKS 1 & 2, EL 00 ADDITION. (LO EO AT 5205 & 5206 NEWMAN E) DENIED Chairman Barfield ope forward. cres of this 28 acre tract is een for many years. The property } I / ! the public hearing and as d the applicant to come Mr. Bill Strange, unsel for E-Systems Pool Trust, explai d that this property had been purc sed in the early 80's with the existing zoni Mr. Strange believes tha is commercial property is too shallow to develo or even sell, as commerci They are requesting the zoning change to bring th ntire tract into one unif zoning category to avoid having to slice up the prope in order to sell it. . Strange explained that he does have this property unde ontract with Mr. Ro irand an experienced apartment developer; after prelimin engin ring and planning, Mr. Mirand's finalization of his site plans de the 0 come of this case tonight. range explained that the east half of the property (parcel 2) would be loped first. The avera e rental rate for these units will be $700.00 a mo A 0 se un s will have garages, 0 ers WI a works out to 15.92 units to the acre - for a total of approximately 216 units. 8 r' ..... - . -U'. . ) r,. 18" 9 J R-3 , I i .....~.j...~...... ~..._L.. ~ .. ¡¿-¡....... ¡ t..¡ ...,R,..l3~..... $N .~~ ~~~ii~!- l ¡ I. -. I ····ï'··.. )···fh:;.:: ~ :l::::::.~:: 14 :~'\:=.."'t' . , : .. ..c' 0,;:,.0. ......--......... fA :0.1 .-.....-.-..... .......-....- I líc : :G: [ I I I~ " 3 " I :Cl i f. :..14 ~ i / ~..._...._....... ,. ::t,;. / / / / I lit tH ,. ~\o~ r. ~C) .-..-.....--. . .0', :~ -i :~, I ;:;: ¡ ¡~~, 3. .... r. ¡...._-~.. 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",i ".! h! 10 Sl~ ui u I', ì / ; ~ ï l ! ..~ . ~ .. i .. ~.. .. I·! i i ¡ ¡ / ..: ¿. f. ". ! I : : i (8.c( B 2b i s ! IC t I I~' ! IA i I. : 10" i ¡ i..C-+2,-..·L..·.... 18 : 1:4 ......... ·.···..···t-.···----·.-·- ~R I i ····..·..·.........t·-·......·--· ).: i .............-. I. .....-....-... I. II. '1· ~ .1. I ' ~ a i c ·..,r::j···~:::,t o "'" I"=~'''''-''i:: c;;=~ u ~::f;~:1;t· ~.\,:;."..t.·1 ,.. .... R-7"MF' , . 101: "If I ................;:'.::'...........1- .mï;¡·.¡~i··· IN ..... 15-4q I R-3 1762......... , " ~(~~ l :~......~...... ...._....::R. 71 M F ,. 'PI I~.. I~ Cft2..: 16261 . " ! C ~'" i X'" " ,." .+" '" ,,"- / ~,\r}P ¿; , · y" ,..C71 ," ~ X '''1: }3qq ,,' s"V'- ~u, V :::>;"~^'~~~", .+ ~~.1.<"'11" / //' .'~~~ A " .-----::- I ~ >:--. 'x/ C'J.", ~. > '" -; K r".",,- '>/ ~'. '" V/ . ~. > . ,/,-" '''-, ¡.r¡- "s , /, .." '- 1 X. C-2¡ 10 !;'-t~ç .. . .,'\ ,.' 11 /" "" y , -J 1 /'~ .. V, " :"-. ,,/\ "c _...:..... 1/ ." / ,,,,,/~/ · ,/ " .,' __._..../// .: '0)< ~.. "~// /" s ._~( "'-"v' J. / " ", " > ,'" /' ,/ . ,>...---. i'" "'"-'" .~O ~ '. ~ " ).. /.., ¡ , ..__....I . ,,~¿, '\.." ,/ / "- ¡ . I ~~. /"':}",o",/ <: ","' /'-- ......_..! ~ . ~ ". '. // ,,/ .,.',' 104 I , ~"'".j .',' "" ~ (/ I '.~' .¡....-......-.-.. ::;,~, " =::: I/" XU" ~. " I · -...-...........--. / J..-..- .~',', ,,' 12 :,.-t............··..·· .._....._-~ 2 f.:1llIl.L;i1:r,¡---'" .,.",0\ .", \, 12 ¡--.-....... ~ ! I c \ "....:~.......... II \....-......-..... ....--.+................-- , 1 C: O· .." .' \ .",0" I. " I ~ -1--1-t\.\ '\~::':'0 ~..\~:-----~= Ii ¡ ¡ \ \ y '~...~..........._.. "-"-'1 I' : \ ,~ . . t: I~ ......__......... lJ- : o~r:.\~\~-:-. .:~~\;: ~:: l~t- t , ¡ ¡ - ¡ Ii \ \ II'~,,- .. /-_. "-~ I , 10 2' II. 11) 16 ~ t., ~ . '''\ 11\ \. ~.../ I~ ,. : I I ' . . ',/ : i i I ! \ \/~ ': C-2 " .........- s~ c-=1- .. .--.-..-.. ..-....-- s· · 1 ~-7- ,. C!:: -....-.-...-.. Q ~ ==-+-'C-2 CI) 1. -~ .þ T i It . t ., ---~~~·rr;J ._--~ ,·h?!-~ ' : -=1 ...; \1. }t.'.;.~ '1~(" ~~,.. ,_. ~ 2 .. ,. ...........-..-. II.. ~~:...'. ~:~~t?ft·: t..; ... 4;'?' .. 11-45. .. :':. '\ .. ~. .(,.,:,-., 1372 i 1111..(1 i::::::::::::::: .. II. o. C-2 I. C-;;1 ... .e .. " :- "-7~ .,.,,-:.,,:..\(.'~ t I'":~~(.). i ~.. . . ':"1~~ ,. . '2; C!:: o -. c... ,. d ,. "!I' ,.. , ;) ". i'-:>-\ ..~.... ..'1 ~~ V\·~,·,· 1-2 .\",:, / / /¡/ CITY OF NORTH RICHLAND HILLS Department: Planning and Inspections Council Meeting Date: 6/09/97 '-- Subject: Request of M & J Construction for a Final Plat of Blocks 24 & 25, Agenda Number: PS 97-21 Kingswood Estates Addition. (Located northwest of the Smithfield Road & Green Valley Drive intersection.) , r I M & J Construction is the owner and developer of Blocks 24 & 25 (9.585 acres), Kingswood Estates Addition, located northwest of the Smithfield Road and Green Valley Drive intersection. The property is zoned R-2 Single Family Residential, with a proposed 30 units in this Subdivision. The applicant has submitted a letter requesting a waiver of the one year Preliminary Plat Approval requirement. The preliminary plat (PS 95-11) has been inactive due to the difficulties incurred in negotiations for the purchase of this property. There have been no major changes on the Final Plat since the approval of the Preliminary Plat, with the exception of some minor changes regarding lot sizes which are explained in the issues section. Section 270 of the Subdivision Regulations of the City of North Richland Hills allows approval by the Planning and Zoning Commission of a Preliminary Plat to be effective for one (1) year. If there has been no Final Plat Application on at least a portion of the area covered by the Preliminary Plat, the Preliminary Plat shall be declared null and void. If only a portion of the Preliminary Plat has been submitted for Final Plat action, then the areas of the Preliminary Plat that have not been submitted for Final plat action shall be declared null and void after a period of three (3) years from the date of approval by the Planning and Zoning Commission. An extension of time for the Preliminary Plat may be granted by the Planning and Zoning Commission. The following are the major issues regarding this Final Plat. (1) Smithfield Road Improvements- The Master Thoroughfare Plan has designated Smithfield Road a C4U Road, i.e., a major collector, 4 lanes, undivided. This class of road requires a 68 foot right of way. The developer is dedicating sufficient right of way adjacent to the subdivision and is also constructing the half of Smithfield Road that is adjacent to this subdivision. (2) Masonry Screening Wall- A masonry screening wall is required along Smithfield Road. The developer has agreed to construct the screening wall. (3) Sidewalks - The applicant has agreed to the construction of sidewalks adjacent to the screening wall. (4) Lot Size - The applicant requests that Lot 15, Block 24 be allowed to retain its present dimension of less than 110 feet in depth. This lot's depth is the result of the layout of Woodhaven Drive. The total square footage (12,600 sq. ft.) of the lot exceeds the Minimum Lot Area required for R-2 Zoning (9,000 sq. ft.) and has an adequate building site pad. The applicant also requests that Lot 1, Block 24 be allowed to retain its back lot width of less than 80 feet, as the lot is 80 feet wide at the Rear Building Line. / \~ The developer has addressed all engineering comments. The Planning and Zoning Commission considered this Final Plat at its May 22, 1997, meeting and recommended approval subject to engineering comments. RECOMMENDATION: It is recommended that the City Council approve the recommendation of the Planning and Zoning Commission. ~I Source of Funds: Bonds (GO/Rev.) Operating Budget Other R~~e~?:d~ture CITY COUNCIL ACTION ITEM Finance Review Account Number Sufficient Funds Available ~ ,Finance Director L- N i~ ¡-f APPLICATION FOR A FINAL PLAT City at North Richland Hills 7301 N,E. Loop 820 Nonh Rich/and Hills, TX 517·581·5515 - ----- (PI..... "in! you 'espooses) Proposed Subdivision Name: k tNú-S WOOD tSTATfCS BLOCJCS 24 ~ 26 Current Legal Description: T¡C:ACT 2A5 - S. £\CH-A1l.DSðl-l 5u~vE"f Aß.5l'. 1'2.~¿' TR.Þ¡c:.T.s ZA,'2..B. A. \-\000 5ulZ.IJ'€.Y ASST. ¿'~3 Name and Address of Current Property Owner: '14. ~ ~. C.öp.J:sT~¿}.GTION ¿oRPo I?.Aï 10 ^' r7lar\(.V\ D. 'Sþ<o')/ïH _ Phone No. (gt,) <Jct8-9811 ïßDJ 13> RACÚ D t PLJKé ,.. 1.. 0 P.T~ -Ric:..Hc:...q.o..t> ~/(.L5, Iou. ~s ï' I~ Name and Address of Previous Owner: (If purchased during past twelve months) GAJV\ e Name and Address of Developer: ~A1\'1£ Phone No. r ? I Name and AddrflSs of Engineer: J DI.J..J€,~ Þ. LON~ 8,. AS,Sóc:./4."tas", He.. 1~1:5 pft.E"c/4VGr ~t!t KoJIt>... '5dl1"r: IOl. ~c..I~~r ~T'f:.)l::2s - Phone No. (817) 2ßI- 8 IZ r / Type of Development &iing Proposed: l.21 SF RflSidential o Duplex Residential Final Plat Application Fee Calculalion: o MF Residential o Commercial/Industrial o Other 1. Application fee: $120.00 2. Number of residential Io/s ( SI.50 per lot cl~.þo 3. Number of non·residential acres ( $5.00 per acre: - 4. Number of street intersection signs t $65.00 each: 5. County plat recording tee: '-!i. 00 5"t.o 0 T olal fee: <4 'Z.~2..06 I hereby cerofy that I am, Of represent. the legal owner of IIu¡ property dflSClibed above and do hereby submit this Final Plat to the Planning and Zoning Commission for consideration. r-J-I-?f Applicant's Phone No,: y1P- ?¿('() Data: Your name (Printed Name)M ft-R 1/ W 1) - SAt'? t Ttf Signatura: C/~'.xJd- Note: Please complete and submit the ·Final Plat Document Submittal Checklist' on the reverse side of this form. , FINAL PLAT co - 402 (5 " 94) 4, PS 97-21 REQUEST OF M & J CONSTRUCTION FOR A FINAL PLAT OF BLOCKS 24 & 25 OF KINGSWOOD ESTATES. (LOCATED NORTHWEST OF THE SMITHFIELD ROAD AND GREEN VALLEY DRIVE INTERSECTION) APPROVED Mr. LeBaron explained that this 9,6 acre tract of land is being platted into 30 single family residential lots, The property is zoned R-2, Single Family Residential and stated that the applicant is requesting a waiver of the one year preliminary plat approval requirement since nothing has changed. Due to the unusual configuration of Lot 15, Block 24, the applicant is also requesting a waiver on the required lot depth on this lot. Chairman Barfield asked the Commissioners if they had any questions for Mr. Smith. There were none. ? , Mr. Miller made the motion to approve PS 97-21 as submitted, allowing the waiver on the preliminary plat approval requirement, subject to the engineers comments and allowing the waiver of the lot depth on Lot 15, Block 24. ¡ Mr. Davis seconded the motion and it carried 5 - O. 5. STAFF REPORT 6. CITIZEN COMMENTS ~\ì~~~' There was nothing to report. There were none. 7. ADJOURNMENT There being no additional business to conduct, the meeting adjourned at 7:35 p.m. Chairman David Barfield Secretary, Charles Owen 2 M & j Construction Corp. 7301 Brandi Place ;'¢K North Rich/and Hills, Texas 75180 817-498-9810 May 14, 1997 Bill Longnecker Planning & Zoning Committee City of North Richland Hi/Is Re: P.S. 9511 Blocks 24 & 25 - Kingswood Estates Gentelmen, r ? I I am requesting a Waver on P.S. 9511, Blocks 24 & 25, Kingswood Estates, concerning the 1 year preliminary plat approval requirement J am asking for this request because of the lenghy negotiation involved in the purchase of this property and difficulties in pertaining data in putting my cost estimate together for this project. All though this sub division is an excellent location, and will be a unique development It has been a very untimely development to do. If you need any additional information, please feel free to call me. I greatly appriciate your consideration in this matter. i Sincerely, ç{L0 . - .- ~. ~- . Marvin D. Smith President . .... . . CITY OF N®RTH RICHLAND HILLS Public Wor'r-;s May 14, 1997 MEMO TO: Planning and Zoning Commission FROM: Julia W. Skare, P.E., Staff Engineer SUBJECT: KlNGSWOOD ESTATES, Blocks 24 & 25; Final Plat; PS97-21 r ? I We have reviewed the subject documents received by this office on April 23, 1997. The following items are for your consideration. 1. DRAINAGE ANAL YSI~ The area for Drainage Area #1 will need to be recalculated. The drainage, inlet capacity and hydraulic calculations will need to be revised based on the recalculated area. A significant quantity of water will be draining from this area onto the proposed Block 24. It appears the proposed lot grading will not adequately handle the drainage. Similar to Eden Addition (Stoney Ridge), flumes will be required. The flume shall be constructed along the rear of Lots 10-15, Block 24 and continue south between lots 9 & 10 toward Woodhaven Drive into an open back inlet. 2. ROW DEDfCATlON Additional iron pins need to be found on the east side of Smithfield Road to verify ROW dedication. All dimension lines need to be clearly labeled. Additional ROW may be required. This will be determined when the information has been submitted to Public Works. ~ :?-~.'. :.~.::_.: "~<.f~~~· . ~':: _ '~'. . ." ., . 3. DRAINAGE EASEMENTS All drainage improvements, including the flumes: will need to be located in drainage easements. These easements will need to be shown on the Plat with the next submittal. 4. SCREENfNG WALL The developer of any newly platted residential subdivision adjacent to a C4U thoroughfare shall be required to construct a masonry screening wall along and adjacent to the thoroughfare. Smithfield Road is designated as a C4U on the Master Thoroughfare Plans. Therefore, a screening wall is required prior to building permits being issued on the adjacent 'lots. The sidewalks adjacent to the screening wall shall be constructed with the wall. . .' P. O. Box 820609 . North Richland Hills, Texas. 761 B2-Q609 7301 Northeast Loop 820,,817-581-5521. FAX 817-656-7503 ';,..- ....-...... .... ~ 5. ZONIN~ The current zoning for the adjacent lots need to be clearly shown on the plat. 6. BUILDING SETBACK Building setback lines shall be shown parallel to the lot lines. This needs to be revised on Block 24, Lot 1. 7. STREET LIGHTS Where a block is 600 feet or longer, a street light shall be installed every six hundred feet or mid-block, whichever is the shortest distance. The location of the street lights will need to be revised as shown on the construction plans. 8. LOT SIZE The minimum lot depth for R-2 zoning is 110 feet. Lot 15, Block 24 does not meet this requirement The minimum comer lot width is 80 feet. Lot 1, Block 24 does not meet this requirement at the rear property line. 9. NPDES PERMIt EPA regulations require that an NPDES permit be obtained prior to beginning construction. The owner and contractor are responsible for obtaining this permit r ? I There are a few comments on the engineering and construction plans. These .' plans have been returned to the Engineer for revision. The comments do not . relinquish the design engineer from providing accurate and buildable construction plans. The City's eventual approval of the construction plans will not signify acceptance of responsibility by the City of North Richland Hills for the engineering in the bid documents. The mark-up blue lines need to be returned with the next submittal. . ~.' - :. - :<~ . . , ~ -M_~-L- Ju W. Skare, P.Et. '. _:>'. ','_ S Engineer··..· . , _ _ ", ~..~~. '-. - .'.. ~ .... - '~~~, ..',~ ::' _ 'I ,-, .~. ,;,. ..... .' . .-..", : -. . - , JWS\pwm97068 '04 .', .' . -:: .-: '.. : : t. œ: Gregory W. Dickens, Director of Public Works Kevin B. Miller, Assistant Director of Public Works Barry LeBaron, Director of Planning and Inspections Mark D.long/Owen D. long & Associates/1615 Precinct line Road Suite1 06\Hurst, Texas 76053 .";;~-.,,. .,.- ~< :':... ". .": /:,2Q' .:~-,.~.,~.;- /: . . ...';~. ." -;..:: -:.- ..... . -'. O~~n D Lon1~~ssoci~~~s 817 2814934 P.8¡ ." - ; .--:, , ('<!ay 15.1.99/ ~Zs. JulIa W. Skare. r.E. Starr En9'lneer Cl~Y of North ?~chlðnd Hills 7301 N.E. LOO? 820 North rtlChland Hills. Texa~ r r t He: PS97-21 KINGSWOOD ESTATES Dlocks 24 & 25 FInal Pla~ & COng~ruc~1on Plans. Nor~h Richland HIlls, TeÄa~ Deor Julia; / We h~v~ rece)v~d a coµy ~f your memo da~ed May 14. 19$ï addres~ed to the Planlng and Zoning Comm~ssion regnrdlng the captIoned Final Plat ulth construction plans. We have th€ !oll~wing CO~cotg. 1. lñe DraJncgo arfJ05 tnjl be rccalculateå aIter d:1ditional t~€ld ~urvey do~o ~s compiled to more occurotclY aer1ne ~herc the ~tor.m wat~r wIll be picked UP. Drainage Easemen~s and F'lume~ wIll then be ada6d to the F~nal Plat wher~ required by Ci't.y staff. 2. The Surveyor ~ljl locat.e ðddlt:ionol R.O.W. p:in:s 101' Sm1tht1cld Road and dlmcnslon ~he rt.O.W. 00 the plat. 3. Drainagc e05eI11Cnt.::; ~111 b€ add.ed to the flno1 Plat where Clra1t1oge Jmprovement~ ana flumes are to be located. 4. 1flc owner lS awore of t.he Screening Wall requlremen~s. :j. Ttl~ ~ut"veyor 1,.1111 add the current. zoning for tho adjacent lot.~. 6. The BuilC1jng setbo.ck line:5 T"ljll ~ revi:scd on Lot 1. Block 2-1 7. The Street Llgh~ !ocatlons will be revised on the Const.ructlon Plo.n~. OU~M D Lon~~AssoGi~~~s 817 2814934 p.a2 S. We r~ques~ a Varlonce of the 110 foot m:n~m~~ lo~ éepth ior Lot 15, Block 24 due to thB f~~u~~¿~ street alig~~~nt. This lot has 12,600 s.Ì. and is 120 ft. ~ide ~i~h an adequate . building pa.d site. Lot 1. BlocJ< 24 t1::iS a mHL ao it. lot width at the building line as requlred. 9. À NPDES Permit will be ob~~~ned prior to construction. Additional comment5 on th~ m~rked up cons~ruction plans ~ill be a.ddressed and the 1I1.a.rj.ç,eçi ..~p set wi 11 De re1: urned tot he Pub 1 i c Works Dept. If YOU have any rurï:ner conments. ?lea~d give me a colI. ~ ~4 D. Long. P.E. Mark ? I cc. Mo.rvin Smith' CITY OF NORTH RICHLAND HILLS Department: City Manager Council Meeting Date: KeSolutlon supporting Healthcare In Northeast Tarrant County - Resolution No. 97-24 Agenda Number: 6/9/97 Subject: GN 97-52 I was contacted by representatives from the North Hills Hospital. We discussed the efforts by the Tarrant County Hospital District to sell or lease all or part of John Peter Smith Hospital. If this was done it would put our local hospital at a disadvantage. They would like you to consider the attachment and to also adopt the attached resolution and forward it to Tarrant County Officials. Recommendation: It is recommended that the City Council consider the adoption of Resolution No. 97-24. Finance Revièw Source of Funds: Bonds (GO/Rev.) Operating Budget _ Other Acct. Number Sufficient Fu s Available r Department Head Signature CITY COUNCIL ACTION ITEM FII\8IICI Director Page 1 of RESOLUTION 97-24 Resolved that the Mayor and City Council of North Richland Hills endorse the recent decision reached by the Board of Director's of the Tarrant County Hospital District to terminate the Request for Proposal that was exploring the possible sale or lease of the John Peter Smith Hospital. It is further resolved that the Mayor and City Council of North Richland Hills recommend that any future outsourcing of John Peter Smith medical functions should be based on quality of service and cost effectiveness. The interest of the taxpayers of Tarrant county should be paramount in any outsourcing agreement. It is further resolved that the City Council of North Richland Hills applauds the excellent care being administered at the Columbia North Hills Hospital and encourages their expansion and growth. PASSED AND APPROVED this 9th day of June, 1997. APPROVED: Tommy Brown, Mayor ATTEST: Patricia Hutson, City Secretary APPROVED AS TO FORM AND LEGALITY: Rex McEntire, Attorney CITY OF NORTH RICHLAND HILLS Finance 6/09/97 '-.-/ Department: Council Meeting Date: Subject: R~~gm~g~ ~~~91:~ent Strategy and Investment Policy Agenda Number: GN 97-53 The Texas State Legislature revised the Public Funds Investment Act in August 1995. In accordance with that Act, City Council adopted the City of North Richland Hills' revised Investment Policy in October 1995. Since that time, several changes have been proposed by the investment committee and several points in the revised investment act have been clarified. In the attached draft, old sections have been struck out, while new sections are in bold. The major changes to the investment policy are summarized below. · As required under the Public Funds Investment Act, the investment strategy section has been removed and included in a separate document. · Investment Officers are required by the Public Funds Investment Act to attend at least ten hours of training on investments every two years. . ? I / . / "-- Language in the investment policy regarding repurchase agreements has been revised to conform to the Public Funds Investment Ad. Repurchase Agreements are a type of short-tenn secured loan. A security is sold with an agreement to repurchase it at a specified date. The difference between the purchase price and the sale price is the interest earned over the period. A singular flexible repurchase agreement is specifically authorized for the investment of bond proceeds. Investment in a flex repo will allow the City to earn higher interest rates than investment pools while allowing periodic drawdowns to pay for expenditures. A flexible repo allows the buyer to redeem a portion of the funds invested at specified intervals before the end of the repurchase agreement Using this arrangement, bond proceeds can be invested at a higher rate than if they were placed in an investment pool, and the flexible redemption allows the City to withdraw enough funds to meet capital expenditures over the term of the investment. · The maximum allowable percentage of the portfolio invested in Agency Discount Notes and Repurchase Agreements has been increased. This will allow for greater flexibility in the City's investments without significant increase in risk. Recommendation: It is recommended that ~e City Council approve GN 97-53 and Resolution 97-22 Finance Review Source of Funds: Acet. Number Bonds (GO/Rev.) Sufficient Funds Available Operating Budget _ Other, - /, /' / --J-Sh I~ ~.t.~ O/v . C"Y COUNCIL ACTION "EM Fin..... Director Page 1 of RESOLUTION 97-22 BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF NORTH RICH LAND HILLS, TEXAS, THAT: 1, The City of North Richland Hills acknowledges the high priority of providing the necessary guardianship of public funds in the municipal sector. The City Council expressly intends to set high fiscal standards, delegate treasury and investment duties to appropriate officials, and to review the actual performance at regular intervals. The City Council hereby intends to implement investment requirements set forth in Tex. Rev. Civ. Stat. Ann., Art. 4413 (34c) and 2256. 2. r ? , The City Council has reviewed and approved the City's Investment Policy, including all revisions and changes required under state law or recommended by City staff. This Investment Policy replaces the investment policy dated September 1, 1995 The City Council has also reviewed and approved the City's Investment Strategy document, as prepared by the City's Investment Committee. PASSED AND APPROVED this 9th day of June, 1997. APPROVED: Tommy Brown, Mayor ATTEST: City Secretary APPROVED AS TO FORM AND LEGALITY: Attorney CITY OF NORTH RICHLAND HILLS INVESTMENT STRATEGY STATEMENT r ~ , . ¡ Adopted: June 9,1997 PREFACE It is the policy of the City of North Richland Hills that, giving due regard to the safety and risk of investment, all available funds shall be invested in conformance with State and Federal Regulations, applicable Bond Resolution requirements, adopted Investment Policy and adopted Investment Strategy. In accordance with the Public Funds Investment Act, the City of North Richland Hills' investment strategies shall address the following priorities (in order of importance): · Understanding the suitability of the investment to the financial requirements of the City, · Preservation and safety of principal, · Liquidity, · Marketability of the investment prior to maturity, t { . Diversification of the investment portfolio, and ¡ . Yield. Effective investment strategy development coordinates the primary objectives of the City of North Richland Hills' Investment Policy and cash management procedures to enhance interest earnings and reduce investment risk. Aggressive cash management will increase the available "investment period" and subsequently interest earnings. Maturity selections shall be based on cash flow and market conditions to take advantage of various interest rate cycles. The City's investment portfolio shall be designed and managed in a manner responsive to the public trust and consistent with the Investment Policy. Each major fund type has varying cash flow requirements and liquidity needs. Therefore specific strategies shall be implemented considering the fund's unique requirements. The City's Funds shall be analyzed and invested according to the following major fund types: I. Operating Funds II. Capital Improvement Funds III. Debt Service Funds 1 INVESTMENT STRATEGY In order to minimize risk of loss due to interest rate fluctuations, investment maturities will not exceed the anticipated cash fiow requirements of the funds, Investment guidelines by fund type are as follows: I. Operating Funds The City of North Richland Hills Operating Funds are as follows: General Fund Special Investigation Fund Support Services Fund Insurance Fund General CIP Fund Information Services Fund Street Maintenance Fund Crime Control District Fund Utility Fund Drainage Utility Fund Donations Fund Parks & Recreation Development Fund Economic Development Fund Aquatic Park Fund Golf Course Fund r r I Suitability - Any investment eligible in the Investment Policy is suitable for the Operating Funds. Safety of Principal- All investments shall be of high quality securities with no perceived default risk. Market price fiuctuations will occur. By managing the weighted average days to maturity for the operating fund portfolio to less than 270 days and restricting the maximum allowable maturity to tvvo years, the price volatility of the overall portfolio will be minimized. Marketability - Securities with active and efficient secondary markets are necessary in the event of an unanticipated cash requirement. Historical market "spreads" between the bid and offer price of a particular security-type of less than 0.25% will define an efficient secondary market. Liquidity - The Operating Funds require the greatest short term liquidity of any of the fund types. Short term investment pools and money market mutual funds shall provide daily liquidity and may be utilized as a competitive yield alternative to fixed maturity investments. Diversification - Investment maturities shall be staggered throughout the budget cycle to provide cash fiow based on the anticipated operating needs of the City. Market cycle risk will be reduced by diversifying the appropriate maturity structure throughout two years. Yield - Attaining a competitive market yield for comparable security-types and portfolio restrictions is the desired objective. The yield of an equally weighted, rolling three month treasury bill portfolio shall be the minimum yield objective. 2 II. Capital Improvement Funds The City of North Richland Hills Capital Improvement Funds are comprised from the monies available from the sale of debt and other sources to finance capital improvement projects. Bond Proceeds are segregated from Operations funds on the General Ledger and in investment accounts for arbitrage compliance purposes. Capital Improvement funds include all funding for the design and construction of municipal improvements, including: streets, drainage, utilities, parks, public safety and the purchase of capital items, Suitability - Any investment eligible in the Investment Policy is suitable for Capital Improvements, Safety of Principal - All investments shall be of high quality securities with no perceived default risk. Market price fluctuations will occur. By managing the various Capital Improvement accounts in anticipation of cash flow requirements, the impact of market risk for the portfolio will be minimized. r ~ , I Marketability - Securities with active and efficient secondary markets are necessary in the event of an unanticipated cash requirement. Historical market "spreads" between the bid and offer price of a particular security-type of less than 0.25% will define an efficient secondary market. ¡ Liquidity - The City's funds used for construction and capital improvement programs have reasonably predictable draw down schedules. Therefore, investment maturities shall generally follow the anticipated cash flow requirements. Investment pools and money market mutual funds shall provide readily available funds generally equal to one month's anticipated cash flow needs, or a competitive alternative for short term fixed maturity investments. A singular repurchase agreement may be utilized if disbursements are allowed in the amount necessary to satisfy any expenditure request. This investment structure is commonly referred to as a Flexible Repurchase Agreement. Diversification - Market conditions and arbitrage regulations influence the attractiveness of staggering the maturity of fixed rate investments for bond proceeds and other construction and capital improvement funds. With bond proceeds, if investment rates exceed the applicable arbitrage yield, the City is best served by locking in most investments. If the arbitrage yield can not be exceeded, then concurrent market conditions will determine the attractiveness of diversifying maturities or investing in shorter and larger amounts. At no time will the anticipated expenditure schedule be exceeded in an attempt to increase yield with any City funds. Yield - Achieving a positive spread to the applicable arbitrage yield is the desired objective for bond proceeds. Non-bond proceed construction and capital project funds will target a rolling portfolio of three-month treasury bills as the minimum yield objective. 3 III. Debt Service Funds The City's Debt Service funds include the General Debt Service Fund and the Sales Tax Revenue Debt Service Fund. The General Debt Service Fund is funded from ad valorem tax collections and monthly transfers from various other funds. The Sales Tax Revenue Debt Service Fund is funded solely from monthly transfers from the Park and Recreation Facilities Development Fund. Suitability - Any Investment listed as eligible in the Investment Policy is suitable for the Debt Service Fund. Safety of Principal - All investments shall be of high quality securities with no perceived default risk. Market price fluctuations will however occur. By managing the Debt Service Fund's portfolio to not exceed the debt service payment schedule, the market risk of the overall portfolio will be minimized. , ? \ I Marketability - Securities with active and efficient secondary markets are not necessary as the event of an unanticipated cash requirement is not probable. Liquidity - Debt service funds have predictable payment schedules. Therefore, investment maturities shall not exceed the anticipated cash flow requirements. Investment pools and money market mutual funds may provide a competitive yield alternative for short term fixed maturity investments. A singular repurchase agreement may be utilized if disbursements are allowed in the amount necessary to satisfy any expenditure request. This investment structure is commonly referred to as a Flexible Repurchase Agreement. Diversification - Market conditions influence the attractiveness of fully extending maturities to the next unfunded payment date. Generally, if investment rates are trending down, the City is best served by locking in most investments. If interest rates are flat or trending up, then concurrent market conditions will determine the attractiveness of extending maturity or investing in shorter term alternatives. At no time shall the debt service schedule be exceeded in an attempt to bolster yield. Yield - Attaining a competitive market yield for comparable security-types and portfolio restrictions is the çjesired objective. The yield of an equally weighted, rolling three month treasury bill portfolio shall be the minimum yield objective. 4 CITY OF NORTH RICHLAND HILLS INVESTMENT POLICY JUNE 9, 1997 r ~ I ¡ TABLE OF CONTENTS Preface Page I. Introduction and Objectives 1 II. Scope 1 III Inve3tment Stí8tegy 1 III. Delegation and Restriction of Investment Authority 3 IV. Investment Committee 3 V, nvestments 4 ? A. Authorized 4 I B, Unauthorized 6 ;' VI. Diversification 7 A. Securities Dealers and Banks 7 B. Investments 7 VII. Safekeeping 8 VIII, Collateralization 9 IX. Investment Procedures 10 A. Approval of Broker/Dealers 11 B. Investment Transactions 11 C, Investment Reporting 11 D. Training 12 X, Prudence 12 XI. Ethics and Conflicts of Interest 13 XII. Arbitrage 14 XIII. Depositories 14 XIV, Investment Policy Adoption 15 A )PENDICES Page A. City or North Richland Hills Ordi lance 2079 17 B, Investment Bid Form and Securi y Inrormation Worksheet 19 C, Broker/Dealer Questionnaire 21 D, Authorized Securities Dealers 27 E Primary Dealers 28 F. P SA Master Repurchase Agree lent 29 r G. Public Funds Investment Act or 1 995 r H. Interlocal Agreements / PREFACE "A public office is a public trust." Charles Sumner, 1872 If a public office is a public trust, then the trust must be administered properly. Public funds are acquired by governments largely through involuntary payments, particularly through taxation, In a modern democratic society, public officials are obligated to manage these funds in a disciplined manner. , ( I In most cases, lalNS govern the investment process. LalNS alone, however cannot compel public officials to a series of actions that assure the public's best interests. The actions of public officials responsible for investing public funds must be guided by knowledge, skills, systems, policies, procedures and confidence that can be described only as professional discipline. / It is the policy of the City of North Rich/and Hills that, giving due regard to safety and risk of investments, all available funds shall be invested in conformance with these legal and administrative guidelines, and, to the maximum extent possible, at the highest rates obtainable at the time of the investment. Effective cash management is recognized as essential to good fiscal management. An aggressive cash management and investment policy will be pursued to take advantage of investment interest as a viable and material revenue to all operating and capital funds, Earnings from investments will be used in a manner that will best serve the interest of the City of North Richland Hills. The City's portfolio shall be designed and managed in a manner responsive to the public trust and consistent with state and local law. I, INTRODUCTION AND OBJECTIVES The purpose of this document is to set forth the specific investment pol icy and strategy guidelines for the City of North Richland Hills. All investment activity shall be consistent with state law as defined in Government Code 10 (Chapter 2256), known as the Public Funds Investment Act (the Act) and local law and shall be made in accord with the following objectives in order of priority: security of investments and City funds preservation of capital and protection of principal maintenance of sufficient liquidity to meet operating needs diversification of investments to avoid unreasonable or avoidable risks maximization of the portfolio's yield r ( , The City is required under the Public Funds Investment Act of 1995, Section 5, to adopt a formal written Investment Policy. This policy was adopted in 1987 to meet the requirements of the Act, and has been revised in 1989 and 1995 to comply with updated state requirements. i Cash management is the process of managing monies in order in ensure maximum cash availability and maximum yield on short-term investments of idle cash. An aggressive cash management program and investment policy will be pursued by the Investment Officer to take advantage of investment interest as a viable and material revenue to all operating and capital funds. The City's portfolio shall be designed and managed in a manner responsive to the public trust. Earnings from investments will be used in a manner that will best serve the interests of the City of North Rich/and Hills. II. SCOPE This Investment Policy applies to all financial assets of the City of North Richland Hills in all current funds, any funds to be created in the future, and any other funds held in custody by the ,City, unless expressly prohibited by law or unless it is in contravention of any depository contract between the City and its depository bank. These funds are accounted for in the City's Comprehensive Annual Financial Report. III. INVCSTMCNT STRATCGY The security and maintenance of principal i3 the primary objective of the CitY'3 investment stretegy. Default risk 3hell be minimized by adequete collateralization. Market risk shell be minimized by diversification of inv'cstmcnt týpes and 3ecuritie3 1 ,j~El:::rs. Specific objec~ive3 for 'y'ar;OU3 fund tiP¿3 Elrt: detailed bc:ov./, A. Con30ljda~ed fund r , The consolidated fund ;s a pooled fund group, The pool~d fund consists of cash from the General fund, Cnterprise funds (excluding current operating funds of the City's Golf Course I;vhich are maintained by the management company), Special Revenue funds, Internal Service funds and special projects not funded from bond proceeds. The primar¡ goal of the consolidated in'y'estment fund is to ensure sufficient funds are available at any gi v'en time to cover current operating expenses and payroll obligations. It is the policy of the City to maintain cash balances as 10,/'1' as practical. All exccss funds should be inv'ested in income generating securities, The maturity schedule of the portfolio should be structured to meet the City's projected cash f¡mv requirements. Investments should be concentrated into short to medium term securities to decrease price volatility, Investments should be distributed ov'er several maturity dates to decrease interest rate risk. No investment shall have a maturity in excess of fi'v'e (5) years. The 'i¡vcighted average maturity of the portfolio shall not exceed 365 days. The dollar weighted av'erage maturity of 365 days or less viii/! be calculated using the stated final maturity date of each security. O. Oond Proceed funds Oond proceed funds include proceeds from the salcs of General Obligation Donds, VJater and Sewer Revenue Oonds, )~ Sales Tax Re'venue Oonds, Certificatcs of Obligation, Contractual Obligations and proceeds from any other long term financing agreement appro.¡ed by City Council. In order to comply 'r¡vith arbitrage rebatc requirements, the proceeds from various bond issues are maintained in separate in'.¡estment accounts in order to properly account for interest earnings. The primary goal of the investment strategy f'Or bond proceeds is ensuring preservation and safety of principal wi1ile maintaining sufficient liquidity to me:et capital project expenditurcs. The maturity structure of invested funds should correspond to projected cash flow requirements. This portfolio should include at least 10%, in highly liquid securities to allow for flexibility to meet unanticipated project outlays. No securities will be purchased INith maturities in excess of 3G5 days. The weighted average maturity of each bond proceed investment fund shall not exceed ~O days. C. Debt Service: fund The invc3tment structure of the debt sef\¡'ice fund shall be determined by the 3chedule of interest and principal payment3 of out3tanding bond issues, No in vestment in the debt service fund may have a maturity excecding the next 2 · , I '" 'e t I · ' " f 1/ ' e e " "., , prlnClpa ûr In,ere~h paymen, a 2) un 2)33 ,n2) accûun, IS u y Tun e. r SUñ;C¡en, liquidity i3 avsi:sb:e to meet ~he next debt sôr/ic.::: cste, exce3S funds can be in-v'e3ted until the Talloyving scheduled debt 3er/ice payment date, Debt ~e:0.,'ice Reserve runds shall be in'v'e3ted using the 3ame requirements stated for Debt ~erv'ice runds, III. DELEGATION AND RESTRICTION OF INVESTMENT AUTHORITY This investment policy and the outlining of investment practices and authorities is compiled in accordance with state legislation, Article 4413 (34c) which requires the adoption of rules governing investment and designation of an investment officer, and City Ordinance # 2076 which designates investment officers and provides prudent investment rules. r r Ultimate responsibility and authority for all investment transactions and cash management reside with the City Manager and the City's Finance Director. The Finance Director is also responsible for considering the quality and capability of staff to be involved in investment management and procedures. The Finance Director may delegate responsibility for the day to day investment activities to other qualified staff members. These staff members will be termed Investment Officers of the City. One of these Investment Officers will be designated the Primary Investment Officer by the Finance Director to conduct daily investment activity and prepare required investment reports. Investment Officers will not conduct any investment or banking activities involving City funds until a resolution or ordinance giving them authority to do so has been approved by the City Council of the City of North Richland Hills. All participants in the investment process shall seek to act responsibly as custodians of public trust. / IV. INVESTMENT COMMITTEE There shall be established an investment committee to assist in monitoring the performance and structure of the City's portfolio, Members of this committee shall include the Qirector of Finance (as Chairman), and the Accounting Manager as permanent members. Additional members, numbering no less than three, will be appointed at the discretion of the Finance Director. The Primary Investment Officer will report to and make recommendations to the Investment Committee, but will have no vote concerning investment policy or suitability of investments. Any matters presented to the committee requiring a vote of the members shall be passed or denied by a simple majority. The Investment Officer or any other member of the committee shall have the power to call meetings of the committee, The committee shall meet no less than quarterly, 3 The Investment Committee shall perform the following functions: A. Approve the process of selecting authorized dealers, brokers, investment advisors, and safekeeping agents/custodians used by the City, B. Reviewthe City's general portfolio activity and performance for compliance to this policy and recommend any changes or amendments to this policy to the City Council. c. Approve the Investment Strategy document, as pr:-epared by the Investment Officer. This document is required by State law to be separate from the Investment Policy. The investment strategy will be a guide to the investment of aUfunds controlled by the City as described in Section II of the Investment Policy. The strategy is intended to adapt t~ changes in market conditions, r ( D. Advise the Investment Officer as to recommendations regarding investment strategy and portfolio performance. E. Approve the purchase of any securities with maturities over two (2) years. F. Immediately notify the Investment Officer of any information brought to their attention that materially affects the portfolio or the marketability of any investments purchased in accordance with the Investment Policy. G. Inform the City Council of unaddressed concerns with the management of the City's investment portfolio, v. INVESTMENTS A. Authorized Investments Within the guidelines provided by the Public Funds Investment Act, Government Code 10, Chapter 2256, and further restrictions imposed by local ordinances, the following are acceptable investments of the City of North Richland Hills. 1. Obligations of the United States, its Agencies, and Instrumentalities. 2. Direct Obligations of the State of Texas or its Agencies. 3. Collateralized Mortgage Obligations (CMOs) directly issued by an agency or instrumentality of the United States, the underlying security for which is guaranteed by an agency or instrumentality of the United States, 4 4, Obligations of states, agencies, counties, cities, and other political subdivisions of any state rated as to investment quality of not less than A or its equivalent by a nationally recognized investment rating firm. 5. Certificates of Deposit issued by state or national banks or savings and loans domiciled in the state of Texas, guaranteed or insured by the Federal Deposit Insurance Corporation or its successor or secured by obligations described in 1 through 4 above, and that have a market value of not less than the principal amount of the certificates. , r I 6. Fully Collateralized Repurchase Agreements that have a defined termination date of less than ~O days secured by obligations of the United States Ct its agencies and Instrumentalities pledged with a third party selected by the City. are structured in compliance with the Public Funds Investment Act. A flexible repurchase agreement can be utilized for the investment of bond proceeds to meet projected cash flow expenditures. Repurchase agreements must be purchased through a primary government securities dealer, as defined by the Federal Reserve, or a bank domiciled in Texas financial institutions doing business in this state (see te Appendix E for a current list of Primary Dealers). Repurchase Agreements will only be executed with counterparties that have signed a PSA Tri-Party Repurchase Agreement with the City. ::¡:fie A sample PSA Tri-Party Repurchase Agreement is incorporated in this investment policy as Appendix F. ;' 7. Banker's Acceptances issued by depository institutions of the United States with a maximum maturity of 270 days and a minimum credit rating of A-1 or P-1 by at least one nationally recognized rating agency. Acceptable instruments must be liquidated in full at maturity and be eligible as collateral for borrowing from a Federal Reserve Bank, 8. Commercial Paper issued in the United States by any corporation. Such instruments must have a maturity of less than 270 days and must either be rated A-1 or P-1 by two nationally recognized credit rating agencies or be recognized by one nationally recognized credit agency and be fully secured by an irrevocable letter of credit issued by a national or state bank. 9. Mutual Funds a, No-load Money Market Mutual Funds are acceptable investments provided they are regulated by the Securities and Exchange Commission, have a dollar-weighted stated average maturity of 90 days or less, and maintain a stable net asset value of $1 per share. 5 b, No-load Mutual Funds are acceptable investments provided they are regulated by the Securities and Exchange Commission, have a dollar- weighted stated average maturity of 90 days or less, maintain a stable net asset value of $1 per share, are continuously rated AAA by at least one nationally recognized credit rating agency, and conform to all requirements under the Public Funds Investment Act relating to the eligibility of investment pools to receive and invest funds of investing entities, (See Appendix G for the complete requirements for authorized Mutual Funds under the Act.) 10. Investment Pools r r . a. Investment Pools must provide the Investment Officer with an offering statement that contains specific and detailed information required by the Act. Additionally, the pool should provide transaction confirmations, detailed monthly transaction summaries and monthly performance reports to the Investment Officer. The specific requirements for authorized investment pools are detailed in the Public Funds Investment Act, Subchapter A, Section 2256.016 (See Appendix G, pp 47 for specifics). Authorized pools must maintain a credit rating of AM or AAAm with at least one nationally recognized rating service. Investment Pools created to operate as a money market mutual fund must mark investments to market daily and maintain a net asset value of $1 per share with the market value per share between .995 and 1.005. b. In order to participate in an investment pool, the City Council must approve by resolution or ordinance a Participation Agreement or Interlocal Agreement to be executed with the State or Interlocal authority responsible for the investment pool. This agreement will specify the City's authorized representatives and the standard delivery instructions for fund transfers and information reports. (See Appendix H for approved interlocal agreements) B. Unauthorized Investments The following investment instruments are specifically not authorized: 1. Obligations whose payment represents the coupon payments on the outstanding principal balance of the underlying mortgage-backed security collateral and pays no principal (CMO derived Interest Only Strips). 2. Obligations whose payment represents the principal stream of cash flow from the underlying mortgage-backed security collateral and bears no interest (CMO derived Principal Only Strips). 6 3, Collateralized Mortgage Obligations that have a stated final maturity date of greater than ten (10) years, 4. Collateralized Mortgage Obligations whose interest rates are determined by an index that adjusts opposite to the changes in a market index (Inverse Floaters). 5. Certificates of Deposit and other investments issued by Savings and Loans. 6. Share Certificates and other investments issued by Credit Unions. 7. Guaranteed Investment Contracts. VI. DIVERSIFICATION r ( I A. Securities Dealers and Banks / Diversification of funds and investments must be accompanied by competitive bidding of all investments to assure diversification among securities dealers. The City shall seek to conduct its investment transactions with several competing, reputable investment security dealers and brokers to protect principal while achieving full advantage of the market. To assure diversification of financial institutions, business involving two party transactions (i.e. repurchase agreements, BA's, and Commercial Paper) with anyone investment broker should be limited to thirty percent (30%) of the par value of the total portfolio for any reporting period. In this way, a bankruptcy, receivership or legal action would not immobilize the City's ability to meet payroll, operating, or other expenses. It is the policy of the City to diversify its investment portfolio so that reliance on any one issuer or broker will not place an undue financial burden on the City. B. Investment Type Texas statutes authorize depositories and define allowable investment programs for municipal governments. The Texas City Depository Act (Article 2559-2599a, V.A.T.C.S.) and the Public Funds Investment Act of 1995 (Article 842a-2, V.A.T.C.S.) are the primary legal influences upon City investment practices. It is the policy of the City to purchase only securities authorized by both the Public Funds Investment Act and Section VI. A. of the City's Investment Policy. Market risk shall be minimized by diversification of investment types. The following limits, 7 by instrument, are established for the City's total portfolio: (1 ) Repurchase Agreements 49% 50% (2) Certificates of Deposit 40% (3) U,S. Treasury Notes/Bonds/Bills 100% (4) U.S. Agencies and Instrumentalities 56% 75% (5) Commercial paper 10% (6) Prime Domestic Banker's Acceptances 10% (7) State and Local Bonds and Notes 40% (8) Money Market Mutual Funds 80% r r ¡ (9) Mutual Funds 15% ; (10) Investment Pools 100% Reductions in the size of the portfolio due to cash outflows may cause an investment type to exceed the maximum percentage allowed for that investment type. In such situations, securities will be sold to reduce the percentage to allowable levels only if no loss will be realized from the sale. If a loss will be realized, then the investment may be held to maturity. To allow efficient and effective placement of proceeds from bond sales, the limit on repurcha3e agrccmcnt3 may be exœcded for a maximum of five daY3 following the receipt of bond proCCCd3 a singular repurchase agreement can be utilized for the investment of bond proceeds which exceeds the diversification limits. VII. SAFEKEEPING The laws of the State of Texas and prudent treasury management require that all purchased securities shall be held in safekeeping by either the City, a City account in a third party financial institution, or the City's safekeeping account in its designated depository bank. All securities owned by the City shall be held by a third party safekeeping agent, or in the Federal Reserve Bank, except for certificates of deposit that have FDIC 8 insurance provided, For certificates of deposit with FDIC insurance, the City will hold the deposit receipt. Transfers of securities in safekeeping shall be processed with "vritten confirmations. The confirmation will be used for documentation and retention purposes, One of the City's designated investment officers must approve release of collateral prior to its removal from the safekeeping account. It is the policy of the City that all securities rendered for payment will be sent "delivery verses payment" (DVP) through the Federal Reserve System. By so doing, City funds are not released until the City has received, through the Federal Reserve wire, the securities purchased. VIII. COLLATERALlZATION r r , Consistent with the requirements of State law, it is the policy of the City to require full collateralization of all City investments other than obligations of the United States and its agencies and instrumentalities. This policy also applies to any deposits held in an approved depository in excess of the amount protected by FDIC insurance. ;' According to the Public Funds Investment Act of 1995, Section 10(2), the City may invest in certificates of deposit that are fully guaranteed by the Federal Deposit Insurance Corporation (FDIC) or are secured by obligations listed in Section VI (A) (1-4) of the Investment Policy. Certificates of deposit plus accrued interest up to $100,000 per bank do not need to be collateralized pursuant to this policy as long as FDIC insurance is provided. Certificates of Deposit in excess of $100,000, including accrued interest, must be secured by approved collateral for the amount in excess of F.D.I.C. insurance. Collateral is valued at current market plus interest accrued through the date of the valuation. Repurchase agreement collateral must be maintained at the following levels, with respect to repurchase agreement par value plus accrued interest: Maturity of Collateral U.S. Treasury Securities Other Securities 1 year or less 1 year to 5 years Over 5 years 101% 102% 103% 101% 102% 104% -' 9 Any collateral 'With a maturity of over 5 years must be approved by the investment committee in writing before the transaction is initiated. Collateralized investments often require substitution of collateral. Any broker or financial institution requesting substitution must contact the Primary Investment Officer, or in his absence any other authorized Investment Officer, for approval and settlement. The substituted collateral's value 'Will be calculated and the substitution approved if its value is equal to or greater than the original collateralization level. The Finance Director, or an authorized designee, must give immediate notification of the decision to the bank or third party holding the collateral. Substitution is allowable for all transactions, but should be limited, if possible, to minimize potential administrative problems and transfer expense. The Finance Director may limit substitution and assess appropriate fees if substitution becomes excessive or abusive. r r I Collateral shall be audited at least annually by the City's independent audit firm, and may be audited by the City at any time during normal business hours of the safekeeping party. The financial institutions with whom the City invests and/or maintains other deposits shall provide, as requested by the City, a listing of the City's certificates of deposit and other deposits at the institution and a listing of collateral pledged to the City marked to current market prices. The listing shall include total pledged securities with the following information: Name Type/description Par value Current market value Maturity date Moody's or Standard & Poor's rating (both if available) Under state ,law, Article 2560, Section (d) (V.A.T.C.S,) substitution and release of collateral must be approved by the governing body. City of North Richland Hills Ordinance # 2076 Section (3) delegates the investment officers' overall responsibilities to ensure that investment objectives are accomplished, and therefore the authority to release and substitute collateral as deemed necessary and reasonable within the guidelines of this policy. IX. INVESTMENT PROCEDURES 10 In order to enhance total yield and fulfill the objectives of this policy, the investment profile will be directed towards an active versus a passive portfolio The risk-return relationship will be controlled through the investment parameters, operating requirements, and guiding policies of the Council. Safety of principal is the foremost objective of this investment policy, Each investment transaction shall seek to avoid capital losses from security defaults or erosion of market value, The City will practice competitive bidding when purchasing all investments to guarantee the highest rate of return. The right is reserved to reject the most financially favorable bid if it is potentially disruptive to the investment strategy or portfolio composition of the City. A. Approval of Broker/Dealers r ? I It is the policy of the City to purchase securities only from those institutions on the City's approved list of broker/dealers and banks, All securities dealers must be registered and certified with the Texas State Securities Commission, National Association of Security Dealers (NASD) and Securities and Exchange Commission (SEC). ;' An institution must complete a broker/dealer questionnaire, sign a certification stating that they have read the City's Investment Policy, be approved by the Investment Committee and added to the list of approved broker/dealers before any business can be transacted with the City. A blank broker/dealer questionnaire is included in Appendix uC." A current list of approved securities dealers and banks is included in Appendix "D." This list may be revised by the Investment Committee as the City's investment needs change. The investment committee shall also be able to limit the number of authorized securities dealers/banks doing business with the City as required. All banks authorized to sell securities to the City will be Federal Reserve member banks and must be approved by the Investment Committee. No investments will be placed with Savings and Loan institutions or Credit Unions, B, Investment Transactions All purchases and sales of securities must be on a competitive bid basis, A minimum of three bids must be obtained to ensure a competitive price for the transaction. All investment transactions must be approved by the Accounting Manager, or the Finance Director, or, in their absence, an authorized Investment Officer. Appendix uB" contains the Investment Bid Form and Security Information Worksheet necessary to provide documentation for all investment transactions. 11 All securities purchased shall require delivery on- the settlement date to the City or its third party accounts on a DVP (delivery versus payment) basis. By so doing, City funds are not released until the City has received, through the Federal Reserve wire, the securities purchased, C. Investment Reporting The Public Funds Investment Act of 1995 requires the preparation of quarterly management reports and an annual report of all investment transactions of the City to be present~d to the City Council. City Ordinance # 2076 section (4) also requires an annual report be presented to the City Council. The Primary Investment Officer will prepare the required quarterly and annual reports for evaluating investment portfolio performance. The reports will be approved and signed by all members of the Investment Committee. The reports will include the following information, as required by the Public Funds Investment Act: I r . - size and composition of portfolio at the beginning and end of the reporting period - list all investments according to the fund they were purchased from - beginning and ending book and market value for all securities held - beginning and ending book and market value for the total portfolio - all additions and changes to the market value during the period - state the compliance of the portfolio to the investment policy and the Public Funds Investment Act - rate of return - diversification of funds - total sales, maturities, and purchases - accrued interest - performance compared to an established benchmark ¡ These quarterly reports should be used along with the annual report to fully evaluate ,and explain market trends and adjustment of investment strategies to manage market fluctuations. The annual report will show on a fiscal year basis the results of the overall investment strategy. D. Training As required by the Act, all authorized Investment Officers must attend a training course that covers the requirements of the Act within one year of taking office or assuming duties. This training will also include discussion of investment controls, security risks, and market risks. An additional 1 0 hours of investment training 12 is required every two years for investment officers. X. PRUDENCE The standard of prudence to be applied by the investment officer shall be the "prudent investor" rule, which states: "Investments shall be made with judgement and care, under circumstances then prevailing, which persons of prudence, discretion and intelligence exercise in the management of their own affairs, not for speculation, but for investment, considering the probable safety of capital as well as the probable income to be derived." It should be noted that, in a diversified portfolio, occasional losses are inevitable and must be considered within the context of the overall portfolio's return. , r I In determining whether an investment officer has exercised prudence with respect to an investment decision, the determination shall take into consideration the investment of all funds, or funds under the City's control, over which the investment officer had responsibility, rather than a consideration as to the prudence of a single investment; and whether the investment decision was consistent with the written investment policy of the City. í The investment officer, acting in accordance with written procedures and exercising due diligence, shall not be held personally responsible for a specific security's credit risk or market price changes, provided that these deviations are reported in a timely manner and appropriate action is taken to control adverse developments. The City shall provide for the defense and indemnification of any investment officer or investment committee member who is made party to any suit or proceeding, other than by actions of the City, or against whom a claim is asserted by reasons of their actions taken within the scope of their service as investment officers or appointed members of the investment committee. Such indemnity shall extend to judgements, fines, and amounts paid in settlement, of any such claim, suit or proceeding, including any appeal thereof. This protection shall extend only to members who have acted in good faith and in a manner ,which they reasonably believe to be in, or not opposed to , the best interests of the City. XI. ETHICS AND CONFLICTS OF INTEREST City staff involved in the investment process shall refrain from personal business activity that could conflict with proper execution of the investment program, or which could impair the ability to make impartial investment decisions. City staff should disclose to the City Manager any material financial investments in financial institutions 13 that conduct business with the City and they shall further disclose positions that could be related to the performance of the City's portfolio. City staff shall subordinate their personal financial transactions to those of the City, particularly with regard to the timing of purchases and sales, An investment officer of the City who has a personal business relationship with an organization seeking to sell an investment to the City shall file a statement disc!osing that personal business interest. An investment officer who is related within the second degree of affinity or consanguinity to an individual seeking to sell an investment to the City shall file a statement disclosing that relationship. A disclosure statement required under this section must be filed with the Texas Ethics Commission and the governing body of the City. XII. ARBITRAGE r r I The Tax Reform Act of 1986 provides limitations on the City's yield from investing tax-exempt General Obligation and Revenue bond proceeds and debt service funds. These arbitrage rebate provisions require that the City compute earnings on investments from each issue of bonds on an periodic basis to determine if a rebate is required. To determine the City's arbitrage position, the city is required to calculate the actual yield earned on the investment of the funds and compare it to the yield that would have been earned if the funds had been invested at a rate equal to the yield on the bonds sold by the City. The rebate. provisions state that periodically (not less than once every five years, and not later than sixty days after maturity of the bonds), the City is required to pay the U.S. Treasury a rebate of any excess earnings. These restrictions require extreme precision in the monitoring and record keeping of investments, particularly in computing yields to ensure compliance. Failure to comply can dictate that the bonds become taxable, retroactively from the date of issuance. ;' The City's investment position relative to the arbitrage restrictions is to continue pursuing the maximum yield on applicable investments while ensuring the safety of capital and !iquidity. It is a fiscally sound position to continue maximization of yield and to rebate excess earnings, if necessary. XIII. DEPOSITORIES The Texas City Depository Act, Article 2559 through 2566a, prescribes procedures for selection of a city depository designating that both general-law and home-rule cities are "authorized to receive applications (as depository) for the custody of city funds from any banking corporation, association, or individual banker doing 14 business within the city", This clause indicates that cities are not required to designate one central depository, The City of North Richland Hills will, through a request for proposals process, designate one or more banks as its primary depository(ies), This centralization is designed to maximize investment capabilities and minimize banking cost. The depository designation does not limit investment activity to one financial institution, The consideration the City of North Richland Hills will use to consummate a banking services contract will include: - Full service capabilities - Submission of financial statements and availability schedules - Collateralization of the total City funds on deposit in the bank - Statement of staff experience and equal opportunity employment practices - Cost of banking services r r I Obtaining competitive proposals on the City's depository specifications will be the responsibility of the Finance Director. Selection of the depository shall be based on the institution's offering the most favorable terms and conditions for the handling of City funds (Article 2560, V.AT.C.S.) and the services available to the City. / The maximum term for a depository contract under State law is five years. The City's contract shall not exceed 5 years. An annual performance review will be conducted by the Investment Committee. Special banking needs may be contracted for by the City outside the depository contract if approved by City Council. If a depository does not meet the city's requirements in the banking services contract, the bank will be required to meet the requirements within six months or lose the depository contract. XIV. INVESTMENT POLICY ADOPTION The investlT)ent policy shall be adopted by ordinance or resolution of the City Council. The policy shall be reviewed annually by the Investment Committee and the City Council. Any policy revisions that require enactment due to updates of applicable state or federal laws may be authorized by the City Manager. Any other significant revisions must be approved by the City Council. 15 APPENDIX A ORDINANCE NO, 2076 AN ORDINANCE OF THE CITY OF NORTH RICHLAND HILLS, TEXAS PROVIDING FOR THE DESIGNATION OF INVESTMENT OFFICERS: PROVIDING FOR INVESTMENT RULES AND POLICIES: PROVIDING FOR MANAGEMENT REPORTS: REPEALING PREVIOUS ORDINANCES: AND PROVIDING A SEVERABILITY CLAUSE Whereas, the City of North Richland Hills acknowledges the high priority of providing the necessary guardianship of public funds in the municipal sector; and Whereas, the City Council expressly intends to set high fiscal standards, delegate treasury and investment duties to appropriate officials, and to review the actual performance at regular intervals; and Whereas, the City Council hereby intends to implement investment requirements set forth in Tex. Rev. Civ. Stat. Ann., Art. 4413 (34c) and 2256, , r NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF NORTH RICH LAND HILLS, TEXAS. ¡ Section 1. Investment Rules. That the following policies and guidelines be established as investment rules governing the investment of local funds: A. All City funds from various revenue sources shall be billed or requested as early as they are recognized, computed, and determined to be due to the City. B. Funds received by the City shall be deposited into the depository bank at the end of each business day or as early as practical operating circumstances will allow. C. All debts owed by the City shall be paid as of the date they come due and not before unless approval is given by the City Manager. D. Based on cash forecasts, all monies not required immediately to pay obligations shall be invested in an income producing instrument or account. E. All i,nvestment activities and procedures shall be governed by a written investment policy. The Investment Policy is attached to this ordinance. Revisions to the Investment Policy required by updates to state and federal laws may be authorized by the City Manager. Any other significant alterations to the Investment Policy must be approved by the City Council. Section 2. Investment Obiectives. The City's funds shall be invested in appropriate instruments in such a manner to ensure the safety of investments, retention of investment principal, maintenance of sufficient liquidity to cover operating needs, diversity of the portfolio, and maximization of yield. The preceding objectives are listed in order of priority. The City shall invest in instruments providing the highest rate of return, as long as such investments do not conflict with the other priorities of the City's investment portfolio or statutes of this state regulating investments of City funds. 17 AP?E::'1HX A Section 3, Designated Officials. The City Council hereby designates the Investment Officers of the City to be the City Manager and Finance Director. The City Manager and Finance Director will have the overall responsibility to ensure that investment objectives are accomplished and that the guidelines of the investment policy are followed. The Finance Director will designate staff members to administer the daily functions of managing the cash and investments of the City. These persons must be authorized as investment officers by a Resolution of the City Council before they are delegated any investment duties. Section 4. Manaqement Reports. At least quarterly the investment officers shall prepare a written report concerning the City's investment transactions for the preceding quarter. This report will describe in detail the investment position of the City at the end of each quarter. A report on investment activity for the fiscal year shall be presented as the report for the fourth quarter. The reports shall be signed by the City Manager, the Finance Director and all other authorized investment officers and presented to the City Council. Section 5. Repeal of Previous Ordinances. Ordinance No. 1335 is hereby repealed. r r I Section 6. Severability. Provisions of this ordinance shall be, and they are hereby, decfared to be severable; and should any portion of it be decJared to be invalid for any reason by a court of competent jurisdiction. such holding shall not affect the remaining portions thereof. PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF NORTH RICHLAND HILLS, TEXAS on this the 25th day of Sept~mber, 1995. APPROVED: Mayor ATTEST: City Secretary APPROVED AS TO FORM AND LEGALITY: Attorney 18 CITY OF NORTH RICHLAND HILLS Trade Date: INVESTMENT BID FORM Trade Time: Desired Par Value: Desired Maturity: r Broker i 1. 2. 3, 4, 5. Yield Security Date Purchase Sell YTM APPE~lnx B Accepted Transaction By: Approved By: D: \ 123files \invests \bidform. wk4 19 APPE:.uIX B CITY OF NORTH RICHLAND HILLS SECURITY INFORMATION WORKSHEET .Name of Security: CUSIP #: Coupon/Discout Rate: Yield to Maturity: Maturity Date: r ? , Par Value: I Trade Date: Settle Date: Principal + Accrued Interest: + Purchase Price: Safekeeping Account: 259091 Name of Broker: Time of Trade: Date of Trade: Entered By: NationsBank Safekeeping: 1-800-525-1085 -" 20 APPE~1HX C CITY OF NORTH RICHLAND HILLS BROKER/DEALER QUESTIONNAIRE AND CERTIFICATION 1. Name offinn 2, Address: Local: National: r ? I 3. Telephone number Local' National: j 4. Primary representative/manager/partner -in-charge Name Name T~ Th~ Telephone no. Telephone no. 5, Is your finn a subsidiary of another finn? If yes, which finn? 6, Are you a primary dealer in U. S. Government securities? ( ] Yes [] No If so, for how long has your finn been a primary dealer? years 7. Is your finn an inventory dealer? Do you take a position in securities which you sell or buy? 8. What was your finn's total volume in U. S. Government and agency securities trading last year? Number of transactions Number of transactions Finn-wide $ Your local office $ 21 APPE0<U IX C City of North Richland HiEs BrokeriDealer Questionnaire 9, Which instruments are offered regularly by your local desk? [J T-bills [J BAs (domestic) [] Treasury noteslbonds [] Commercial paper [] GNNfA.s [] Bank CDs [] FHLMCs [J S & L CDs Other Federal Agencies (please specify) Instrumentalities (please specify) 10. Identify all personnel who will be trading with or quoting securities to our government's employees. ~ Title Telephone Number r ( Primary Alternate Alternate (please attach resumés of the personnel listed above.) / How long has the primary representative been an institutional governmental securities broker at the finn? II. Is the firm and the account representative registered with the Texas State Securities Commission? If yes, for how long? Firm Representative 12, Which of the above personnel have read the City's investment policies? 13. Please indicate which agents of your firm's local offices currently are licensed, certified or registered, and by whom. Agent Licensed or registered bX 14, Please identify your public-sector clients in our geographical area who are most comparable to our government. Entity Contact person Telephone no Client since;; 22 ._~~"~---~,---------'~"-'-----~-,._.,._._- APPENDIX C City of North RicWand Hills BrokerlDealer Questionnaire 15, Is your firm a member ofNASD'ì Yes No If not, why? 16, Place an "X' by each regulatory agency that your firm is examined by and/or subject to its rules and regulations: FDIC Comptroller of Currency SEC NYSE Federal Reserve System Other: (example: State Regulatory Agency) Multistate firms please note: It is not necessary to include regulatory agencies which do not have jurisdiction over your finn's activities in the State of Texas. t r I / 17. Have you obtained all required licenses to operate as a broker/dealer in the State of Texas? [ ] Yes [ ] No 18. To the best of your knowledge, has there been any "material" litigation, arbitration, or regulatory proceedings, either pending, adjudicated or settled, that your finn has been subject to within the last five (5) years that involved issues concerning the suitability of the sale or purchase of securities to institutional clients or fraudulent or unfair practices related to the sale of securities to an institutional client? If so, please describe each such matter briefly. For purposes of this question, proceedings are "material" if your independent accountant applying generally accepted accounting principles determines that such proceedings required disclosure in your financial statements, 23 -'----~------~-_. - APP2::iÐIX C City of North Richland HiUs BrokerlDealer Questionnaire 19, Have any of the employees listed in item ten (] 0) ever had sanctions imposed due to any of the activities noted in item eighteen (]8)? Explain the outcome, case and/or case citation in an attached explanation, 20. Please include samples of research reports that your firm regularly provides to public-sector clients. 21. Please explain your norma] custody and delivery process. Who audits these fiduciary systems? What reports, transactions, confirmations and paper trail will we receive? r ( , / 22. Enclose a complete schedule of fees and charges for various transactions. 23. Please provide your firm's most recent certified audited financial statements, In addition., for those dealers preparing and subrrùtting financial statements to the following organizations, please provide publicly available financial documents filed with these agencies for the most current reporting period: National Association of Securities Dealers Securities and Exchange Commission New York Stock Exchange Federal Deposit Insurance Corporation 24. Has your firm consistently complied with the Federal Reserve Bank's capital adequacy guidelines? As of this date, does your firm comply I,I,ith the guidelines? Has your capital position ever fallen short? By what factor (1.5x, 2:<, etc,) does your firm presently exceed the capital adequacy guidelines? Include certified documentation of your capital adequacy as measured by the Federal Reserve standards, 24 APPE~DIX C City of North Richland Hills BrokerlDealer Questionnaire 25, Describe the capital line and trading limits that support/limit the office that would conduct business with our government. 26, If you are not a bank, please provide the following information regarding your principal banking relationship. . > \ I Bank Name Address Person to Contact Length of Relationship Telephone # 27. Do you participate in the SIPC insurance program? If not, explain why not. 28, What portfolio information do you require from your clients? 29, How many and what percentage of your transactions failed last month? Last year? 30, Describe the precautions taken by your firm to protect the interests of the public when dealing with governmental agencies as investors, 25 APP;::~D IX C Ciry of North Richland Hills BrokerlDealer Questionnaire -CERTIFICATION- I hereby certifY that I have personally read the investment policies and objectives of the City of North Richland Hills and have implemented reasonable procedures and a system of controls designed to preclude imprudent investment activities arising out of transactions conducted between our firm and North Richland Hills. All sales personnel \VÍ1I be routinely informed of your investment objectives, horizon, outlook, strategies and risk constraints whenever we are so advised. We \VÍll notify you immediately by telephone and in writing in the event of a material adverse change in our financial condition. We pledge to exercise due diligence in informing you of all foreseeable risks associated \VÍth financial transactions conducted \VÍth our firm. I attest to the accuracy of our responses to your questionnaire, r ( Signed: ;' Date: (Countersigned by company president or person in charge of government securities operations,) 26 ~----------,--~,_..''''-~'-_.._----~_.."._. .-., Appendix 0 City of North Richland Hills Approved Securities Dealers As of April 25, 1997 Securities Dealers I ? First Southwest Company Merrill Lynch, Inc. Paine Webber, Inc. Prudential Securities, Inc, Gilford Securities, Inc. First Empire, Inc. Multi-Bank Securities, Inc. Morgan Keegan Inc. Griffin, Kubik, Stephens, & Thompson ;' Banking Institutions Liberty National Bank NationsBank Texas First Simmons National Bank Commerce Bank Zions Bank First Tennessee Capital Markets Investment Pools Texpool LOGIC 27 -. -~~----------_.._._------_.. PRIMARY SECURITIES DEALERS This page to be inserted when recieved r r I ¡ 28 AP?E::iD IX E --_.,"--,-_.,._."-_.~-_._-.,..~._~-----_._--_.- Public Securities Association 40 Broad Street, New York. NY 10004-2373 Telephone (212) 809-7000 APPENDIX F PSA MASTER REPURCHASE AGREEMENT Dated as of Between: and ? 1. Applicability From time to time the parties hereto may enter into transactions in which one party ("Seller") agrees to transfer to the other ("Buyer") securities or financial instruments ("Securities") against the transfer of funds by Buyer, with a simultaneous agreement by Buyer to transfer to Seller such Securities at a date certain or on demand, against the transfer of funds by Seller. Each such transaction shall be referred to herein as a "Transaction" and shall be governed by this Agreement, including any supplemental terms or conditions contained in Annex I hereto, unless otherwise agreed in writing. / 2. Definitions (a) "Act of Insolvency", with respect to any party, (i) the commencement by such party as debtor of any case or proceeding under any bankruptcy, insolvency, reorganization, liquidation, dissolution or similar law. or such party seeking the appointment of a receiver, trustee, custodian or similar official for such party or any substantial part of its property, or (ii) the commencement of any such case or proceeding against such party, or another seeking such an appointment. or the filing against a party of an application for a protective decree under the provisions of the Securities Investor Protection Act of 1970, which (A) is consented to or not timely contested by such party, (B) results in the entry of an order for relief, such an appointment, the issuance of such a protective decree or the entry of an order having a similar effect, or (C) is not dismissed within 15 days, (iii) the making by a party of a general assignment for the benefit of creditors, or (iv) the admission in writing by a party of such party's inability to pay such party's debts as they become due; (b) "Additional Purchased Securities", Securities provided by Seller to Buyer pursuant to Paragraph 4(a) hereof; (c) "Buyer's Margin Amount", with respect to any Transaction as of any date, the amount obtained by application of a percentage (which may be equal to the percentage that is agreed to as the Seller's Margin Amount under subparagraph (q) of this Paragraph), agreed to by Buyer and Seller prior to entering into the Transaction, to the Repurchase Price for such Transaction as of such date; (d) "Confirmation", the meaning specified in Paragraph 3(b) hereof; (e) "Income", with respect to any Security at any time, any principal thereof then payable and all interest, dividends or other distributions thereon; (f) "Margin Deficit", the meaning specified in Paragraph 4(a) hereof; (g) "Margin Excess", the meaning specified in Paragraph 4(b) hereof; (h) "Market Value", with respect to any Securities as of any date, the price for such Securities on such date obtained from a generally recognized source agreed to by the parties or the most recent closing bid quotation from such a source, plus accrued Income to the extent not included therein (other than any Income credited or transferred to, or applied to the obligations of, Seller pursuant to Paragraph 5 hereof) as of such date (unless contrary to market practice for such Securities); (i) "Price Differential", with respect to any Transaction hereunder as of any date, the aggregate amount obtained by daily application of the Pricing Rate for such Transaction to the Purchase Price for such Transaction on a 360 day per year basis for the actual number of days during the period commencing on (and including) the Purchase Date for such Transaction and ending on (but excluding) the date of determination (reduced by any amount of such Price Differential previously paid by Seller to Buyer with respect to such Transaction); r ( I ;' APPENDIX F OJ "Pricing Rate", the per annum percentage rate for determination of the Price Differential; (k) "Prime Rate", the prime rate of U,S. money center commercial banks as published in The INaII Street Journal; (I) "Purchase Date", the date on which Purchased Securities are transferred by Seller to Buyer; (m) "Purchase Price", (i) on the Purchase Date, the price at which Purchased Securities are transferred by Seller to Buyer, and (ii) thereafter, such price increased by the amount of any cash transferred by Buyer to Seller pursuant to Paragraph 4(b) hereof and decreased by the amount of any cash transferred by Seller to Buyer pursuant to Paragraph 4(a) hereof or applied to reduce Seller's obligations under clause (ii) of Paragraph 5 hereof; (n) "Purchased Securities", the Securities transferred by Seller to Buyer in a Transaction hereunder, and any Securities substituted therefor in accordance with Paragraph 9 hereof. The term "Purchased Securities" with respect to any Transaction at any time also shall include Additional Purchased Securities delivered pursuant to Paragraph 4(a) and shall exclude Securities returned pursuant to Paragraph 4(b); (0) "Repurchase Date", the date on which Seller is to repurchase the Purchased Securities from Buyer, including any date determined by application of the provisions of Paragraphs 3(c) or 11 hereof; (p) "Repurchase Price", the price at which Purchased Securities are to be transferred from Buyer to Seller upon termination of a Transaction, which will be determined in each case (including Transactions terminable upon demand) as the sum of the Purchase Price and the Price Differential as of the date of such determination, increased by any amount determined by the application of the provisions of Paragraph 11 hereof; (q) "Seller's Margin Amount", with respect to any Transaction as of any date, the amount obtained by application of a percentage (which may be equal to the percentage that is agreed to as the Buyer's Margin Amount under subparagraph (c) of this Paragraph). agreed to by Buyer and Seller prior to entering into the Transaction, to the Repurchase Price for such Transaction as of such date. 3. Initiation; Confirmation; Termination (a) An agreement to enter into a Transaction may be made orally or in writing at the initiation of either Buyer or Seller. On the Purchase Date for the Transaction, the Purchased Securities shall be transferred to Buyer or its agent against the transfer of the Purchase Price to an account of Seller. (b) Upon agreeing to enter into a Transaction hereunder. Buyer or Seller (or both). as shall be agreed, shall promptly deliver to the other party a written confirmation of each Transaction (a "Confirmation"). The Confirmation shall describe the Purchased Securities (including CUSIP number, if any). identify Buyer and Seller and set forth (i) the Purchase Date. (ii) the Purchase Price, (iii) the Repurchase Date, unless the Transaction is to be terminable on demand, (iv) the Pricing Rate or Repurchase Price applicable to the Transaction, and (v) any additional terms or conditions of the Transaction not inconsistent with this Agreement. The Confirmation, together with this Agreement. shall constitute conclusive evidence of the terms agreed between Buyer and Seller with respect to the Transaction to which the Confirmation relates, unless with respect to the Confirmation specific objection is made promptly after receipt thereof. In the event of any conflict between the terms of such Confirmation and this Agreement, this Agreement shall prevail. (c) In the case of Transactions terminable upon demand. such demand shall be made by Buyer or Seller, no later than such time as is customary in accordance with market practice, by telephone or otherwise on or prior to the business day on which such termination will be effective. On the date specified in such demand, or on the date fixed for termination in the case of Transactions having a fixed term, termination of the Transaction will be effected by transfer to Seller or its agent of the Purchased Securities and any Income in respect thereof received by Buyer (and not previously credited or transferred to, or applied to the obligations of, Seller pursuant to Paragraph 5 hereof) against the transfer of the Repurchase Price to an account of Buyer. 4. Margin Maintenance (a) If at any time the aggregate Market Value of all Purchased Securities subject to all Transactions in which a particular party hereto is acting as Buyer is less than the aggregate Buyer's Margin Amount for all such Transactions (a "Margin Deficit"), then Buyer may by notice to Seller require Seller in such Transactions, at Seller's option, to transfer to Buyer cash or additional Securities reasonably acceptable to Buyer ("Additional Purchased Securities"), so that the cash and aggregate Market Value of the Purchased Securities, including any such Additional Purchased Securities, will thereupon equal or exceed such aggregate Buyer's Margin Amount (decreased by the amount of any Margin Qeficit as of such date arising from any Transactions in which such Buyer is acting as Seller). (b) If at any time the aggregate Market Value of all Purchased Securities subject to all Transactions in which a particular party hereto is acting as Seller exceeds the aggregate Seller's Margin Amount for all such Transactions at such time (a "Margin Excess"), then Seller may by notice to Buyer require Buyer in such Transactions, at Buyer's option, to transfer cash or Purchased Securities to Seller, so that the aggregate Market Value of the Purchased Securities, after deduction of any such cash or any Purchased Securities so transferred, will thereupon not exceed such aggregate Seller's Margin Amount (increased by the amount of any Margin Excess as of such date arising from any Transactions in which such Seller is acting as Buyer). (c) Any cash transferred pursuant to this Paragraph shall be attributed to such Transactions as shall be agreed upon by Buyer and Seller, r r , APPENDIX F (d) Seller and Buyer may agree, with respect to any or all Transactions hereunder, that the respective rights of Buyer or Seller (or both) under subparagraphs (a) and (b) of this Paragraph may be exercised only where a Margin Deficit or Margin Excess exceeds a specified dollar amount or a specified percentage of the Repurchase Prices for such Transactions (which amount or percentage shall be agreed to by Buyer and Seller prior to entering into any such Transactions). (e) Seller and Buyer may agree, with respect to any or all Transactions hereunder. that the respective rights of Buyer and Seller under subparagraphs (a) and (b) of this Paragraph to require the elimination of a Margin Deficit or a Margin Excess, as the case may be, may be exercised whenever such a Margin Deficit or Margin Excess exists with respect to any single Transaction hereunder (calculated without regard to any other Transaction outstanding under this Agreement). 5. Income Payments Where a particular Transaction's term extends over an Income payment date on the Securities subject to that Transaction, Buyer shall, as the parties may agree with respect to such Transaction (or. in the absence of any agreement. as Buyer shall reasonably determine in its discretion), on the date such Income is payable either (i) transfer to or credit to the account of Seller an amount equal to such Income payment or payments with respect to any Purchased Securities subject to such Transaction or (ii) apply the Income payment or payments to reduce the amount to be transferred to Buyer by Seller upon termination of the Transaction. Buyer shall not be obligated to take any action pursuant to the preceding sentence to the extent that such action would result in the creation of a Margin Deficit. unless prior thereto or simultaneously therewith Seller transfers to Buyer cash or Additional Purchased Securities sufficient to eliminate such Margin Deficit. 6. Security Interest Although the parties intend that all Transactions hereunder be sales and purchases and not loans. in the event any such Transactions are deemed to be loans, Seller shall be deemed to have pledged to Buyer as security for the performance by Seller of its obligations under each such Transaction, and shall be deemed to have granted to Buyer a security interest in. all of the Purchased Securities with respect to all Transactions hereunder and all proceeds thereof. 7. Payment and Transfer Unless otherwise mutually agreed, all transfers of funds hereunder shall be in immediately available funds. All Securities transferred by one party hereto to the other party (i) shall be in suitable form for transfer or shall be accompanied by duly executed instruments of transfer or assignment in blank and such other documentation as the party receiving possession may reasonably request, (ii) s:,all be transferred on the book-entry system of a Federal Reserve Bank, or (iii) shall be transferred by any other method mutually acceptable to Seller and Buyer. As used herein with respect to Securities, "transfer" is intended to have the same meaning as when used in Section 8-313 of the New York Uniform Commercial Code or. where applicable, in any federal regulation governing transfers of the Securities. 8. Segregation of Purchased Securities To the extent required by applicable law. all Purchased Securities in the possession of Seller shall be segregated from other securities in its possession and shall be identified as subject to this Agreement. Segregation may be accomplished by appropriate identification on the books and records of the holder, including a financial intermediary or a clearing corporation. Title to all Purchased Securities shall pass to Buyer and, unless otherwise agreed by Buyer and Seller, nothing in this Agreement shall precfude Buyer from engaging in repurchase transactions with the Purchased Securities or otherwise pledging or hypothecating the Purchased Securities. but no such transaction shall relieve Buyer of its obligations to transfer Purchased Securities to Seller pursuant to Paragraphs 3. 4 or 11 hereof, or of Buyer's obligation to credit or pay Income to. or apply Income to the obligations of, Seller pursuant to Paragraph 5 hereof. Required Disclosure for Transactions in Which the Seller Retains Custody of the Purchased Securities Seller is not permitted to substitute other securities for those subject to this Agreement and therefore must keep Buyer's securities segregated at all times. unless in this Agreement Buyer grants Seller the right to substitute other securities. If Buyer grants the right to substitute. this means that Buyer's securities will likely be commingled with Seller's own securities during the trading day. Buyer is advised that. during any trading day that Buyer's securities are commingled with Seller's securities, they (will]" [may]"· be subject to liens granted by Seller to [its clearing bank]" (third parties]"' and may be used by Seller for deliveries on other securities transactions. Whenever the securities are commingled, Seller's ability to resegregate substitute securities for Buyer will be subject to Seller's ability to satisfy (the clearing]" (anyJ"· lien or to obtain substitute securities. 'Language to be used under 17 C,F.R. §403.4(e) if S~lIer is a government securities broker or dealer other than a financial institution. "Language to be used under 17 C,F.A. §403.5(d) if Seller is a financial institution, r ( I / 9. Substitution (a) Seller may, subject to agreement with and acceptance by Buyer, substitute other Securities for any Purchased Securities, Such substitution shall be made by transfer to Buyer of such other Securities and transfer to Seller of such Purchased Securities, After substitution, the substituted Securities shall be deemed to be Purchased Securities. (b) In Transactions in which the Seller retains custody of Purchased Securities, the parties expressly agree that Buyer shall be deemed, for purposes of subparagraph (a) of this Paragraph, to have agreed to and accepted in this Agreement substitution by Seller of other Securities for PurChased Securities; provided. however, that such other Securities shall have a Iv1arket Value at least equal to the Market Value of the Purchased Securities for which they are substituted, 10. Representations " Each of Buyer and Seller represents and warrants to the other that (i) it is duly authorized to execute and deliver this Agreement, to enter into the Transactions contemplated hereunder and to perform its obligations hereunder and has taken all necessary action to authorize such execution, delivery and performance, (ii) it will engage in such Transactions as principal (or, if agreed in writing in advance of any Transaction by the other party hereto, as agent for a disclosed principal). (iii) the person signing this Agreement on its behalf is duly authorized to do so on its behalf (or on behalf of any such disclosed principal), (iv) it has obtained all authorizations of any governmental body required in connection with this Agreement and the Transactions hereunder and such authorizations are in full force and effect and (v) the execution, delivery and performance of this Agreement and the Transactions hereunder will not violate any law, ordinance, charter, by-law or rule applicable to it or any agreement by which it is bound or by which any of its assets are affected. On the Purchase Date for any Transaction Buyer and Seller shall each be deemed to repeat all the foregoing representations made by it. 11. Events of Default In the event that (i) Seller fails to repurchase or Buyer fails to transfer Purchased Securities upon the applicable Repurchase Date, (ii) Seller or Buyer fails, after one business day's notice, to comply with Paragraph 4 hereof, (iii) Buyer fails to comply with Paragraph 5 hereof, (iv) an Act of InsOlvency occurs with respect to Seller or Buyer, (v) any representation made by Seller or Buyer shall have been incorrect or untrue in any material respect when made or repeated or deemed to have been made or repeated, or (vi) Seller or Buyer shall admit to the other its inability to, or its intention not to, perform any of its obligations hereunder (each an "Event of Default"): (a) At the option of the nondefaulting party. exercised by written notice to the defaulting party (which option shall be deemed to have been exercised, even if no notice is given. immediately upon the occurrence of an Act of Insolvency), the Repurchase Date for each Transaction hereunder shall be deemed immediately to occur. (b) In all Transactions in which the defaulting party is acting as Seller, if the nondefaulting party exercises or is deemed to have exercised the option referred to in subparagraph (a) of this Paragraph, (i) the defaulting party's obligations hereunder to repurchase all Purchased Securities in such Transactions shall thereupon become immediately due and payable, (ii) to the extent permitted by applicable law, the Repurchase Price with respect to each such Transaction shalf be increased by the aggregate amount obtained by daily application of (x) the greater of the Pricing Rate for such Transaction or the Prime Rate to (y) the Repurchase Price for such Transaction as of the Repurchase Date as determined pursuant to subparagraph (a) of this Paragraph (decreased as of any day by (A) any amounts retained by the nondefaulting party with respect to such Repurchase Price pursuant to clause (iii) of this subparagraph, (B) any proceeds from the safe of Purchased Securities pursuant to subparagraph (d){i) of this Paragraph, and (C) any amounts credited to the account of the defaulting party pursuant to subparagraph (e) of this Paragraph) on a 360 day per year basis for the actual number of days during the period from and including the date of the Event of Default giving rise to such option to but excluding the date of payment of the Repurchase Price as so increased, (iii) all Income paid after such exercise or deemed exercise shall be retained by the nondefaulting party and applied to the aggregate unpaid Repurchase Prices owed by the defaulting party. and (iv) the defaulting party shall immediately deliver to the nondefaulting party any Purchased Securities subject to such Transactions then in the defaulting party's possession, (c) In all Transactions in which the defaulting party is acting as Buyer, upon tender by the nondefaulting party of payment of the aggregate Repurchase Prices for all such Transactions. the defaulting party's right, title and interest in all Purchased Securities subject to such Transactions shall be deemed transferred to the nondefau/ting party, and the defaulting party shall deliver all such Purchased Securities to the nondefaulting party. (d) After one business day's notice to the defaulting party (which notice need not be given if an Act of Insolvency shall have occurred, and which may be the notice given under subparagraph (a) of this Paragraph or the notice referred to in clause (ii) of the first sentence of this Paragraph), the nondefaulting party may: (i) as to Transactions in which the defaulting party is acting as Seller, (A) immediately sell, in a recognized market at such price or prices as the nondefaulting party may reasonably deem satisfactory, any or all Purchased Securities subject to such Transactions and apply the proceeds thereof to the aggregate unpaid Repurchase Prices and any other amounts owing by the defaulting party hereunder APPENDIX F ..--~--_..-~---_._-~--~"----"-_._- > \ ¡ APPENDIX F or (B) in its sole discretion elect, in lieu of selling all or a portion of such Purchased Securities, to give the defaulting party credit for such Purchased Securities in an amount equal to the price therefor on such date, obtained from a generally recognized source or the most recent closing bid quotation from such a source, against the aggregate unpaid Repurchase Prices and any other amounts owing by the defaulting party hereunder; and (ii) as to Transactions in which the defaulting party is acting as Buyer, (A) purchase securities ("Replacement Securities") of the same class and amount as any Purchased Securities that are not delivered by the defaulting party to the nondefaulting party as required hereunder or (B) in its sole discretion elect, in lieu of purchasing Replacement Securities, to be deemed to have purchased Replacement Securities at the price therefor on such date, obtained from a generally recognized source or the most recent closing bid quotation from such a source. (e) As to Transactions in which the 'defaulting party is acting as Buyer, the defaulting party shall be liable to the nondefaulting party (i) with respect to Purchased Securities (other than Additional Purchased Securities), for any excess of the price paid (or deemed paid) by the nondefaulting party for Replacement Securities therefor over the Repurchase Price for such Purchased Securities and (ii) with respect to Additional Purchased Securities, for the price paid (or deemed paid) by the nondefaulting party for the Replacement Securities therefor. In addition, the defaulting party shall be liable to the nondefaulting party for interest on such remaining liability with respect to each such purchase (or deemed purchase) of Replacement Securities from the date of such purchase (or deemed purchase) until paid in full by Buyer. Such interest shall be at a rate equal to the greater of the Pricing Rate for such Transaction or the Prime Rate. (f) For purposes of this Paragraph 11, the Repurchase Price for each Transaction hereunder in respect of which the defaulting party is acting as Buyer shall not increase above the amount of such Repurchase Price for such Transaction determined as of the date of the exercise or deemed exercise by the nondefaulting party of its option under subparagraph (a) of this Paragraph. (g) The defaulting party shall be liable to the nondefaulting party for the amount of all reasonable legal or other expenses incurred by the nondefaulting party in connection with or as a consequence of an Event of Default, together with interest thereon at a rate equal to the greater of the Pricing Rate for the relevant Transaction or the Prime Rate. (h) The nondefaulting party shall have. in addition to its rights hereunder. any rights otherwise available to it under any other agreement or applicable law. 12. Single Agreement Buyer and Seller acknowledge that, and have entered hereinto and will enter into each Transaction hereunder in consideration of and in reliance upon the fact ¡hat, all Transactions hereunder constitute a single business and contractual relationship and have been made in consideration of each other. Accordingly. each of Buyer and Seller agrees (i) to perform all of its obligations in respect of each Transaction hereunder, and that a default in the performance of any such obligations shall constitute a default by it in respect of all Transactions hereunder, (ii) that each of them shall be entitled to set off claims and apply property held by them in respect of any Transaction against obligations owing to them in respect of any other Transactions hereunder and (iii) that payments. deliveries and other transfers made by either of them in respect of any Transaction shall be deemed to have been made in consideration of payments, deliveries and other transfers in respect of any other Transactions hereunder, and the obligations to make any such payments, deliveries and other transfers may be applied against each other and netted. 13. Notices and Other Communications Unless another address is specified in writing by the respective party to whom any notice or other com- munication is to be given hereunder, all such notices or communications shall be in writing or confirmed in writing and delivered at the respective addresses set forth in Annex" attached hereto. 14. Entire Agreement; Severability This Agreement shall supersede any existing agreements between the parties containing general terms and conditions for repurchase transactions, Each provision and agreement herein shall be treated as separate and independent from any other provision or agreement herein and shall be enforceable notwithstanding the unenforceability of any such other provision or agreement. 15. Non-assignability; Termination The rights and obligations of the parties under this Agreement and under any Transaction shall not be assigned by either party without the prior written consent of the other party, Subject to the foregoing, this Agreement and any Transactions shall be binding upon and shall inure to the benefit of the parties and their respective successors and assigns. This Agreement may be cancelled by either party upon giving written notice to the other, except that this Agreement shall, notwithstanding such notice, remain applicable to any Transactions then outstanding. 16. Governing Law This Agreement shall be governed by the laws of the State of New York without giving effect to the conflict of law principles thereof. APPENDIX F 17. No Waivers, Etc. No express or implied waiver of any Event of Default by either party shall constitute a waiver of any other Event of Default and no exercise of any remedy hereunder by any party shall constitute a waiver of its right to exercise any other remedy hereunder, No modification or waiver of any provision of this Agreement and no consent by any party to a departure here from shall be effective unless and until such shall be in writing and duly 'executed by both of the parties hereto. Without limitation on any of the foregoing, the failure to give a notice pursuant to subparagraphs 4(a) or 4(b) hereof will not constitute a waiver of any right to do so at a later date. r ~ \ '18. ' Use of Employee Plan Assets (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 ("ERISA") are intended to be used by either party hereto (the "Plan Party") in a Transaction, the Plan Party shall so notify the other party prior to the Transaction. The Plan Party shall represent in writing to the other party that the Transaction does not constitute a prohibited transaction under ERISA or is otherwise exempt therefrom, and the other party may proceed in reliance thereon but shall not be required so to proceed. (b) Subject to the last sentence of subparagraph (a) of this Paragraph, any such Transaction shall proceed only if Seller furnishes or has furnished to Buyer its most recent available audited ,statement of its financial condition and its most recent subsequent unaudited statement of its financial condition. (c) By entering into a Transaction pursuant to this Paragraph, Seller shall be deemed (i) to represent to Buyer that since the date of Seller's latest such financial statements, there has been no material adverse change in Seller's financial condition which Seller has not disclosed to Buyer, and (ii) to agree to provide Buyer with future audited and unaudited statements of its financial condition as they are issued, so long as it is a Seller in any outstanding Transaction involving a Plan Party. / 19. Intent (a) The parties recognize that each Transactiof! is a "repurchase agreement" as that term is defined in Section 101 of Title 11 of the United States Code, as amended (except insofar as the type of Securities subject to such Transaction or the term of such Transaction would render such definition inapplicable), and a "securities contract" as that term is defined in Section 741 of Title 11 of the United States Code, as amended. (b) It is understood that either party's right to liquidate Securities delivered to it in connection with Transactions hereunder or to exercise any other remedies pursuant to Paragraph 11 hereof, is a contractual right to liquidate such Transaction as described in Sections 555 and 559 of Title 11 of the United States Code, as amended. 20. Disclosure Relating to Certain Federal Protections The parties acknowledge that they have been advised that: (a) in the case of Transactions in which one of the parties is a broker or dealer registered with the Securities and Exchange Commission ("SEC") under Section 15 of the Securities Exchange Act of 1934 ("1934 Act"), the Securities Investor Protection Corporation has taken the pOsition that the provisions of the Securities Investor Protection Act of 1970 ("SIPA") do not protect the other party with respect to any Transaction hereunder; (b) in the case of Transactions in which one of the parties is a government securities broker or a government securities dealer registered with the SEC under Section 15C of the 1934 Act, SIPA will not provide protection to the other party with respect to any Transaction hereunder; and (c) in the case of Transactions in which one of the parties is a financial institution, funds held by the financial institution pursuant to a Transaction hereunder are not a deposit and therefore are not insured by the Federal Deposit Insurance Corporation, the Federal Savings and Loan Insurance Corporation or the National Credit Union Share Insurance Fund, as applicable. [Name of Party] [Name of Party] By By Title Title Date Date ~ r r I / .~. ~ ~ '.. ~ Appendix G TEXAS GOVERNMENT CODE CHAPTER 2256. PUBLIC FUNDS INVESTMENT SUBCHAPTER A. AUTHORIZED INVESTMENTS FOR GOVERNMENTAL ENTITIES Sec. 2256.001. SHORT TITLE. This chapter may be cited as the Public Funds Investment Act. Sec. 2256.002. DEFINITIONS. In this chapter: (1) "Bond proceeds" means the proceeds from the sale of bonds, notes, and other obligations issued by an entity, and reserves and funds maintained by an entity for debt service purposes. (2) "Book value" means the face or par value of an investment plus accrued interest or minus amortization or accretion. (3) govemment that: "Funds" means public funds in the custody of a state agency or local (A) are not required by a~o be deposited in the state treasury; and (B) the investing entity has authority to invest. (4) "Institution of higher education" has the meaning assigned by Section 61.003, Education Code. (5) "Investing entity" and "entity" mean an entity subject to this chapter and described by Section 2256.003. (6) "Investment pool" means an entity created under this code to invest public funds jointly on behalf of the entities that participate in the pool and whose investment objectives in order of priority are: (A) preservation and safety of principal; (B) liquidity; and (C) yield. (7) "Local govemment" means a municipality, a county, a school district, a district or authority created under Section 52(b)(1) or (2), Article III, or Section 59, Article XVI, Texas Constitution, a fresh water supply district, a hospital district, and any political subdivision, authority, public corporation. body politic, or instrumentality of the State of Texas, and any nonprofit corporation acting on behalf of any of those entities. (8) "Market value" means the face or par value of an investment multiplied by the premium or discount quoted on the valuation date. Appendix G (9) "Pooled fund group" means an internally created fund of an investing entity in which one or more institutional accounts of the investing entity are invested, (10) "School district" means a public school district. " , (11) "Separately invested asset" means an account or fund of a state agency or local government that is not invested in a pooled fund group. (12) "State agency" means an office, department, commission, board, or other agency that is part of any branch of state govemment, an institution of higher education, and any nonprofit COrporation acting on behalf of any of those entities. Sec. 2256.003. AUTHORITY TO INVEST FUNDS; ENTITIES SUBJECT TO THIS CHAPTER. Each governing body of the following entities may purchase, sell, and invest its funds and funds under its control in investments authorized under this sUbchapter in compliance with investment policies approved by the governing body and according to the standard of care prescribed by Section 2256.006: (1) a local government; r r , (2) a state agency; : agency; or (3) a nonprofit corporation acting o~ehalf of a local government or a state (4) an investment pool acting on behalf of two or more local govemments, state agencies, or a combination of those entities. Sec. 2256.004. APPLICABILITY. This sUbchapter does not apply to: (1) a public retirement system as defined by Section 802.001; (2) state funds invested as authorized by Section 404.024; (3) an institution of higher education having total endowments of at least S95 million in book value on May 1, 1995; or (4) funds invested by the Veterans' Land Board as authorized by Chapter 161, 162, or 164, Natural Resources Code. Sec. 2256.005. INVESTMENT POLICIES; INVESTMENT STRATEGIES; INVESTMENT OFFICER. (a) The goveming body of an investing entity shall adopt by rule, order, ordinance, or resolution, as appropriate, a written investment policy regarding the investment of its funds and funds under its control. (b) The investment pOlicies must: (1) be written; (2) primarily emphasize safety of principal and liquidity; 2 ..__.._--~--~-----_.._---------------'~'''"'~._..._,.,,_.._..._-- . Appendix G /"';"' If, "'-- (3) address investment diversification, yield. and maturity and the quality and capability of investment management; and (4) include: (A) a list of the types of authorized investments in which the investing entity's funds may be invested; (8) the maximum allowable stated maturity of any individual investment owned by the entity; and (C) for pooled fund groups, the maximum average dollar-weighted maturity allowed based on the stated maturity date for the portfolio. (c) solicited: The investment policies may provide that bids for certificates of deposit be (1 ) orally; (2) in writing; ? (3) electronically; or , (4) in any combination of those 'fT\ethods. --. (d) As an integral part of an investment policy, the governing body shall adopt a separate written investment strategy for each of the funds under its control. Each investment strategy must describe the investment objectives for the particular fund using the following priorities in order of importance: (1) understanding of the suitability of the investment to the financial requirements of the entity; (2) preservation and safety of principal; (3) liquidity; (4) marketability of the investment if the need arises to liquidate the investment before maturity; (5) diversification of the investment portfolio; and (6) yield. (e) The governing body of an investing entity shall review its investment policy and investment strategies not less than annually. '.....,.. (f) Each investing entity shall designate, by rule, order, ordinance, or resolution, as appropriate, one or more officers or employees of the state agency, local govemment, or investment pool as investment officer to be responsible for the investment of its funds. Unless otherwise authorized by law, a person may not deposit, withdraw, invest, transfer, or manage in any other manner funds of a state agency, local govemment, or investment pool without express 3 (3) coIlateralized mortgage obligations directly issued by a federal agency or instrumentality of the United States, the underlying security for which is guaranteed by an agency or instrumentality of the United States; -- , '-- (4) other obligations, the principal and interest of which are unconditionally guaranteed or insured by, or backed by the full faith and credit of, this state or the United States or their respective agencies and instrumentalities; and (5) obligations of states, agencies, counties, cities, and other poHtical subdivisions of any state rated as to investment quality by a nationally recognized investment rating firm not less than A or its equivalent. (b) The following are not authorized investments under this section: (1) obligations whose payment represents the coupon payments on the outstanding principal balance of the under1ying mortgage-backed security collateral and pays no principal; r ( . (2) obligations whose payment represents the principal stream of cash flow from the under1ying mortgage-backed security collateral and bears no interest; / (3) collateralized mortgage obligations that have a stated final maturity date of greater than 10 years; and --<i! (4) collateralized mortgage obligations the interest rate of which is determined by an index that adjusts opposite to the changes in a market index. " Sec. 2256.010. AUTHORIZED INVESTMENTS: CERTIFICATES OF DEPOSIT. A certificate of deposit is an authorized investment under this sUbchapter if the certificate of deposit is issued by a state or national bank domiciled in this state or a savings and Joan association domiciled in this state and is: successor; (1) guaranteed or insured by the Federal Deposit Insurance Corporation or its (2) secured by obligations that are described by Section 2256.009(a), including mortgage-backed securities directly issued by a federal agency or instrumentality that have a market value of not less than the principal amount of the certificates. but excluding those mortgage-backed securities of the nature described by Section 2256.009(b); or (3) secured in any other manner and amount provided by law for deposits of the investing entity. Sec. 2256.011. AUTHORIZED INVESTMENTS: REPURCHASE AGREEMENTS. (a) A fully collateralized repurchase agreement is an authorized investment under this subchapter if the repurchase agreement: (1) has a defined termination date; (2) is secured by obligations described by Section 2256.009(a)(1); and Appendix G (3) requires the securities being purchased by the entity to be pledged to the entity, held in the entity's name, and deposited at the time the investment is made with the entity or with a third party selected and approved by the entity; and (4) is placed through a primary govemment securities dealer, as defined by the Federal Reserve. or a financial institution doing business in this state. (b) In this section, "repurchase agreement" means a simultaneous agreement to buy, hold for a specified time. and sell back at a future date obligations described by Section 2256.009(a)(1), at a market value at the time the funds are disbursed of not less than the principal amount of the funds disbursed. The term includes a direct security repurchase agreement and a reverse security repurchase agreement. (c) Notwithstanding any other law, the term of any reverse security repurchase agreement may not exceed 90 days after the date the reverse security repurchase agreement is delivered. ? (d) Money received by an entity under the terms of a reverse security repurchase agreement shall be used to acquire additional authorized investments, but the term of the authorized investments acquired must mature not later than the expiration date stated in the reverse security repurchase agreement. Sec. 2256.012. AUTHORIZED INVESTMENTS: BANKERS' ACCEPTANCES. A bankers' acceptance is an authorized investment under this subchapter if the bankers' acceptance: (1) has a stated maturity of 270 days or fewer from the date of its issuance; (2) will be, in accordance with its terms, liquidated in full at maturity; (3) is eligible for collateral for borrowing from a Federal Reserve Bank; and (4) is accepted by a bank organized and existing under the laws of the United States or any state, if the short-term obligations of the bank, or of a bank holding company of which the bank is the largest subsidiary, are rated not less than A-1 or P-1 or an equivalent rating by at least one nationally recognized credit rating agency. Sec. 2256.013. AUTHORIZED INVESTMENTS: COMMERCIAL PAPER. Commercial paper is an authorized investment under this subchapter if the commercial paper: and (1) has a stated maturity of 270 days or fewer from the date of its issuance; (2) is rated not less than A-1 or P-1 or an equivalent rating by at least: (A) two nationally recognized credit rating agencies; or (B) one nationally recognized credit rating agency and is fully secured by an irrevocable letter of credit issued by a bank organized and existing under the laws of the United States or any state. Sec. 2256.014. AUTHORIZED INVESTMENTS; MUTUAL FUNDS. (a) A no-load money market mutual fund is an authorized investment under this subchapter if the mutual fund: (1) is regulated by the Securities and Exchange Commission; (2) has a dollar-weighted average stated maturity of 90 days or fewer; and (3) includes in its investment objectives the maintenance of a stable net asset value of $1 for each share. (b) In addition to a no-load money mar1<et mutual fund permitted as an authorized investment in Subsection (a), a no-load mutual fund is an authorized investment under this subchapter jf the mutual fund: (1) is registered with the Securities and Exchange Commission; I ? I (2) has an average weighted maturity of less than two years; (3) is invested excfusively in obligations approved by this subchapter; ¡ ~ (4) is continuously rated as to investment quality by at least one nationally recognized investment rating firm of not less than MA or its equivalent; and (5) conforms to the requirements set forth in Sections 2256.016(b) and (c) relating to the eligibility of investment pools to receive and invest funds of investing entities. .' (c) An entity is not authorized by this section to: (1) invest in the aggregate more than 80 percent of its monthly average fund balance, excluding bond proceeds and reserves and other funds held for debt service. in money mar1<et mutual funds described in Subsection (a) or mutual funds described in Subsection (b)" either separately or collectively; (2) invest in the aggregate more than 15 percent of its monthly average fund balance, excluding bond proceeds and reserves and other funds held for debt service, in mutual funds described'in Subsection (b); (3) invest any portion of bond proceeds, reserves and funds held for debt service, in mutual funds described in Subsection (b); or (4) invest its funds or funds under its control, including bond proceeds and reserves and other funds held for debt service, in anyone mutual fund described in Subsection (a) or (b) in an amount that exceeds 10 percent of the total assets of the mutual fund. Sec. 2256.015. AUTHORIZED INVESTMENTS; GUARANTEED INVESTMENT CONTRACTS. (a) A guaranteed investment contract is an authorized investment for state agencies for bond proceeds under this subchapter if the guaranteed investment contract: 8 Appendix G (1) has a defined termination date; , (2) is secured by obligations described by Section 225ô.009(a)(1), excluding those obligations described by Section 225ô.009(b), in an amount at least equal to the amount of bond proceeds invested under the contract; and (3) is pledged to the entity and deposited with the entity or with a third party selected and approved by the entity. (b) Bond proceeds, other than bond proceeds representing reserves and funds maintained for debt service purposes. may not be invested under this subchapter in a guaranteerl..investment contract with a term of longer than five years from the date of issuance of the bonds. (c) To be eligible as an authorized investment: (1) the governing body of the entity must specifically authorize guaranteed investment contracts as an eligible investment in the order, ordinance, or resolution authorizing the issuance of bonds; ? I (2) the entity must receive bids from at least three separate providers with no material financial interest in the bonds from which proceeds were received; ~ (3) the entity must purchase the highest yielding guaranteed investment contract for which a qualifying bid is received; ¡ (4) the price of the guaranteed investment contract must take into account the reasonably expected drawdown schedule for the bond proceeds to be invested; and (5) the provider must certify the administrative costs reasonably expected to be paid to third parties in connection with the guaranteed investment contract. Sec.2256.016. AUTHORIZED INVESTMENTS: INVESTMENT POOLS. (a) An entity may invest its funds and funds under its control through an eligible investment pool if the governing body of the entity by rule, order, ordinance, or resolution, as appropriate, authorizes investment in the particular pool. An investment pool shall invest the funds it receives from entities in authorized investments permitted by this subchapter. (b) To be eligible to receive funds from and invest funds on behalf of an entity under this chapter, an investment pool must furnish to the investment officer or other authorized representative of the entity an offering circular or other similar disclosure instrument that contains, at a minimum, the following information: (1) the types of investments in which money is allowed to be invested; (2) the maximum average dollar-weighted maturity allowed, based on the stated maturity date, of the pool; . portfolio has; (3) the maximum stated maturity date any investment security within the 9 (4) the objectives of the pool; (5) (6) their terms expire; the size of the pool; -r \ Co the names of the members of the advisory board of the pool and the dates (7) the custodian bank that will safekeep the pool's assets; (8) ,whether the intent of the pool is to maintain a net asset value of one dollar and the risk of market price fluctuation; (9) whether the only source of payment is the assets of the pool at market value or whether there is a secondary source of payment. such as insurance or guarantees. and a description of the secondary source of payment; (10) the name and address of the independent auditor of the pool; r ? I (11) the requirements to be satisfied for an entity to deposit funds in and withdraw funds from the pool and any deadlines or other operating policies required for the entity to invest funds in and withdraw funds from the pool; and / (12) the performance history of the p~. including yield. average dollar-weighted maturities, and expense ratios. (c) To maintain eligibility to receive funds from and invest funds on behalf of an entity under this chapter, an investment pool must furnish to the investment officer or other authorized representative of the entity: (1) investment transaction confirmations; and (2) a monthly report that contains, at a minimum, the following information: pool is invested; (A) the types and percentage breakdown of securities in which the (B) maturity date, of the pool; the current average dollar-weighted maturity, based on the stated (C) the current percentage of the pool's portfolio in investments that have stated maturities of more than one year; (0) the book value versus the market value of the pool's portfolio, using amortized cost valuation; (E) the size of the pool; (F) the number of participants in the pool; (G) the custodian bank that is safekeeping the assets of the pool; , 1" Appendix G pool; (H) a listing of daily transaction activity of the entity participating in the (I) the yield and expense ratio of the pool; (J) the portfolio managers of the pool; and (K) any changes or addenda to the offering circular. (d) An entity by contract may delegate to an investment pool the authority to hold legal title as custodian of investments purchased with its local funds. (e) In this section, "yield" shall be calculated in accordance with regulations governing the registration of open-end management investment companies under the Investment Company Act of 1940, as promulgated from time to time by the federal Securities and Exchange Commission. , ( Sec.2256.017. PORTFOLIO OF CERTAIN INVESTMENT POOLS. A public funds investment pool created to function as a money market mutual fund must mark its portfolio to market daily and, to the extent reasonably possible, stabilize at a $1 net asset value. If the ratio of the market value of the portfolio divided by the book value of the portfolio is less than 0.995 or greater than 1.005, portfolio holdings shall be sold as necessary to maintain the ratio between 0.995 and 1.005. ~ / Sec. 2256.018. ADVISORY BOARD OF INVESTMENT POOLS. (a) An investment pool other than a pool described by Subsection (b) shall establish an advisory board composed of participants in the pool and other persons. (b) A public funds investment pool created under Chapter 791 and managed by a state agency shall establish an advisory board composed equally of participants in the pool and other persons who do not have a business relationship with the pool. A board member must be qualified to advise the pool. Sec. 2256.019. RATING OF CERTAIN INVESTMENT POOLS. A public funds investment pool must be continuously rated no lower than AAA or AAA-m or at an equivalent rating by at least one nationally recognized rating service. Sec. 2256.020. AUTHORIZED INVESTMENTS: INSTITUTIONS OF HIGHER EDUCATION. In addition to the authorized investments permitted by this subchapter, an institution of higher education may purchase, sell, and invest its funds and funds under its control in the following: (1) cash management and fixed income funds sponsored by organizations exempt from federal income taxation under Section 501 (f), Internal Revenue Code of 1986 (26 U.S.C. Section 501 (f)); (2) negotiable certificates of deposit issued by a bank that has a certificate of deposit rating of at least 1 or the equivalent by a nationally recognized credit rating agency or that is associated with a holding company having a commercial paper rating of at least A-1, P-1, or the equivalent by a nationally recognized credit rating agency; and 1 1 Appendix G (3) corporate bonds. debentures. or similar debt obligations rated by a nationally recognized investment rating firm in one of the t1;,/O highest long-term rating c2te,;ories, without regard to gradations within those categories. N - Sec. 2256.021. EFFECT OF LOSS OF REQUIRED RATING, An investment that requires a minimum rating under this sUbchapter does not qualify as an authorized investment during the period the investment does not have the minimum rating. An entity shall take all prudent measures that are consistent with its investment policy to liquidate an investment that does not have the minimum rating. Sec. 2256.022. EXPANSION OF INVESTMENT AUTHORITY. Expansion of investment authority granted by this chapter shall require a risk assessment by the state auditor or performed at the direction of the state auditor. Sec. 2256.023. INTERNAL MANAGEMENT REPORTS. (a) Not less than quarterly, the investment officer shall prepare and submit to the governing body of the entity a written report of investment transactions for all funds covered by this chapter for the preceding reporting period. r ( (b) The report must: report; (1) describe in detail the investme..Q) position of the entity on the date of the (2) be prepared jointly by all investment officers of the entity; (3) be signed by each investment officer of the entity; '- (4) contain a summary statement of each pooled fund group that states the: (A) beginning market value for the reporting period; (8) additions and changes to the market value during the period; and (C) ending market value for the period; (5) state the book value and market value of each separately invested asset at the beginning and end of the reporting periOd by the type of asset and fund type invested; maturity date; (6) state the maturity date of each separately invested asset that has a (7) state the account or fund or pooled group fund in the state agency or local government for which each individual investment was acquired; and (8) state the compliance of the investment portfolio of the state agency or local government as it relates to: (A) the investment strategy expressed in the agency's or local government's investment policy; and 12 Appendix G (8) relevant provisions of this chapter. (c) The report shall be presented not less than quarterly to the governing body and the chief executive officer of the entity within a reasonable time after the end of the period. Sec.2256.024. SUBCHAPTER CUMULATIVE. (a) The authority granted by this sUbchapter is in addition to that granted by other law. Except as provided by Subsection (b), this subchapter does not: (1) prohibit an investment specifically authorized by other law; or (2) authorize an investment specifically prohibited by other law. (b) Except with respect to those investing entities described in Subsection (c), a security described in Section 2256.009(b) is not an authorized investment for a state agency, a local government, or another investing entity, notwithstanding any other provision of this chapter or other law to the contrary. r ( I (c) Mortgage pass-through certificates and individual mortgage loans that may constitute an investment described in Section 2256.009(b) are authorized investments with respect to the housing bond programs operated by: / (1) the Texas Department of Hoù'Síng and Community Affairs or a nonprofit corporation created to act on its behalf; (2) an entity created under Chapter 392, Local Government Code; or (3) an entity created under Chapter 394, Local Government Code. [Sections 2256.025 -2256.050 reserved for expansion] SUBCHAPTER B. MISCELLANEOUS PROVISIONS Sec. 2256.051. ELECTRONIC FUNDS TRANSFER. Any local govemment may use electronic means to transfer or invest all funds collected or controlled by the local govemment. Sec. 2256.052. PRIVATE AUDITOR. Notwithstanding any other law, a state agency shall employ a private auditor if authorized by the legislative audit committee either on the committee's initiative or on request of the goveming body of the agency. Sec. 2256.053. PAYMENT FOR SECURITIES PURCHASED BY STATE. The comptroller, the state treasurer, or the disbursing officer of an agency that has the power to invest assets directly may pay for authorized securities purchased from or through a member in good standing of the National Association of Securities Dealers or from or through a national or state bank on receiving an invoice from the seller of the securities showing that the securities have been purchased by the board or agency and that the amount to be paid for the securities is just, due, and unpaid. A purchase of securities may not be made at a price that exceeds the existing market value of the securities. Sec. 2256.054. DELIVERY OF SECURITIES PURCHASED BY STATE. A security purchased under this chapter may be delivered to the state treasurer, a bank, or the board or 13 agency investing its funds. The delivery shall be made under normal and recognized practices in the securities and banking industries, including the book entry procedure at the Federal Reserve Bank. Sec. 2256.055. DEPOSIT OF SECURITIES PURCHASED BY STATE. At the direction of the state treasurer or the agency, a security purchased underthis chapter may be deposited in trust with a bank or federal reserve bank or branch designated by the treasurer, whether in or outside the state. The deposit shall be held in the entity's name as evidenced by a trust receipt of the bank with which the securities are deposited. I ( I ~ 14 Appendix G -¡t -' ,IT' : " .~ ,- / '\ "\.. ~ I~ Ir. 'il / 11 p.ecorm-endation: , I I The staff recommends City Council Approve Resolution No. 90-04 and authorize the Mayor ..II r,~to sign the contract with Te.xPool, and authorize the funds transfer agreerœnt. : , I~ I ~ I ~ ! I IJ .IJ , I ~~ Finance Review .. Source of Funds: Acct. Number N/A , Bonds (GO/Rev.) Sufficient Funds Available ~r I. . g;:;~ting Budget L -41:~- , j .~7lI~ - {;d IpvLJ¿ . /_í(( A~ r I Department Head Signature . / I City Manager ~ I rrTY rnr rNrff 4 rTfnM 'T~M \ APPENDIX H (C(Q)~)f/90 Council Meeting Date: Approve Pa....rtici;:ation lJ1 Te.xPool-?..esolution No. 90-04 Agenda Number: r:~¡ Qn-1 S CITY OF NORTH RICHLANO HILLS Finance Department: '''-. . :Jub ect: TexPool (Te.xas Lccal Goverr:rœnt Investrœnt Pool) was es't.ablished i.r¡ 1989 by t.';e Te.xas Treasury to provide a safe e.r¡viror~t for the short-term investment of public funds. Investments are being made in U. S. Treasuries, age.l1cies, and inst-rumentalities, and fully collateralized repurchase agree:rrents and reverse repurchase agreerrents. During the last three months the TexPa:>l performance has Ceo--n canpared to the top mutual funds and has finished in the top third. The yield of TexPcol for t.l-te past three months has averaged 8.70%. TexPool offers an alternative that may œ attractive in certain incidences. Their prirrary investrænts are extremely short-term. It is a cash rr.anagerænt tool which ~s currently out performing alternative short-term investments at our disposal. Þ-.s specified in the City 's Lr¡vestrœnt p:¡licy, cr.e attached resolution and cont=act must be e.xecuted to participate in the investIœnt IXXJl. Flnane.Oueclc 1. J , , r , J r ,1 I ¡ /11 ' I I 11 I 1'1 I 1'1 I 11 i ~'l I ~'l i "1 11 11 , - . 1 APPENDIX H PESOLL~ION NO. 90-04 WHEREAs, the City of North Richland Hills is an agency or s;olitical subdivision of the State of Texas (the "Participant") and is empowered to delegate to a public funds investment ~l the authority to invest funds and to act as custodian of investments purchased w.ith local investment funds; and WHEREAs, it is in the best interest of the Participant and its inhabitants to invest local funds in investments that yield the highest possible rate of return while providing necessary safekeeping and protection of the principal; and WHEREAs, the Treasurer of the State of Texas acting by and through the Texas Treasury Safekeeping Trust Company (the "Trust Ccmpany") has created "TexPool" I a public funds investrrent ¡xxJl to effectuate the goals of providing investrrents at the highest possible yield and maintaining complete safety of the ftmds of the Participant, OCM THEREFORE, be i t resolved as follows: ..../ 1. That the City of North Richland Hills establish an accoUIlt in its narre with the Trust Ccrnpany I s Public Funds Investrænt Pool "TexPool" for the purpose of transmitting local funds for investment by the Trust Ccmpany in Te.xPool. 2. That the following individuals whose signatures appear below are officers or employees of the Participant and are each hereby authorized to transmit funds to the Trust Company for investrœnt in Te-xPooI and are each further authorized to wi thdraw funds from time to time, to issue letters of instruction, and to take all other actions deerred necessary or appropriate for the invesbœnt of local funds: Narre: Lee Maness ~ Title: Director of Finance 71Î~ Signature: Name: Jim Cook Title: Asst. Director of Fin~'ce Signature, 9:.'77-/ ~~_ Name: Camelia Fisher Title: Senior Staff Accountant Signature: ~.,¿~ ,-6~~ I '\ APPENDIX H 3. That this Resolution and its authorization shall continue in full force and effect until amended or revoked by the Participant and until the Trust Canpany recei ves a copy of any such amendment or revocation, until such time the Trust Company is entitled to rely on same. j This Resolution is hereby intrcx:1uced and adopted by the Participant at its regular meeting held on the 23rd day of January, 1990. CITY OF NORTH RIŒLAND HILLS I ~l I ¡ II [! .1 I 11 I _1 I 11 I 11 I 11 I ~1 -1 11 _1 By: ~._-) ~.,~ --' ATrEST: 9~.dA<'Á;z;z;5 /iL,"J 54 CITY OF NORTH RICHLAND HILLS Appendix H I 'I· " Oepar:ment: Finance Cùr..:~cjl Meeting Oa¡e: 3/25/96 Sr..:bject:' AI J1hnri7;no P~riiri0~tinn in thQ I nr;::¡I Gnw=>mmont Agenda Number: Investment Cooperative (LOGIC), Resolution No. 96-19 GN OR-1F; Fundamental goals of the City's investment policy include diversification and liquidity within a prudent framework of safety and market rate of retum. In an effort to enhance these efforts, the Investment Committee has recommended that the City invest a portion of available short term funds with Local Government Investment Cooperative (LOGIC), The City currently utilizes Texpooi as the primary investment tool of the portfolio matching this short term criteria. The intent ofthe Committee is that a portion of the portfolio currently invested in Texpool would be transferred to LOGIC, an investment pool of political subdivisions of the State of Texas, administered by Southwest Securities. LOGIC has a ratjngof AAA and all funds invested can be withdrawn on a daily basis. As of March 1, 1996, a total of seventy-six cities, counties and sdlooldistrids had over 5725 million r invested at LOGIC. . To invest in lOGIC, the City must enter into an intertöCal agreement with the other participants of the Investment Cooperative. R ecommendati on: It is recommended that Resolution No. 96- 19 be approved. Source of Funds: Bonds (GO/Rev.) Operating Budget Othet~£ad S;gnatute fr- Finance Review ç'~CJI :¡~cw R¿solution 9ó-19 Appendix H LO<:al Government InVestIneDt Cooperative Re:solutjoIl RESOLUTION .A.PPROVil'{G A..~T) AUTIiORIZING EXECUTION OF .~~ INTEH.LOCAL AGRFFMEJ.'IT FOR PA....~TICI?A TION IN" A PUBLIC ~TIS INV'ESThŒ:."tr COOPE.1t-\11VE (THE -COOPERATIVE-), DESIGNATING THE BOARD OF DIREcrORS OF TIŒ COOPERATIVE AS A.."f AGEN'CY AJ.'ID INSTRTJ~Œ:.'IT.-\LITY TO SUPE.~ VISE THE COOPER?. TIVE, APPROVING INVESTME.Nl POLICŒS OF THE COOPE.~A. TIVE, APPOINTING A UTHORlZED REPRESENr A TIVES A..'ID DESIGNA TIN"G INVEsTMENT OFFICE.~ WHEREAs, the lntcrlocal Cooperation Act, Chapter 791 of the Texas Government Code, 3.3 amended (the -Intcrlocal Act-), permits any -local govemmou- to rontract with one or more other -local govemmcr1ts- to perform -govcrnmental funcrioru and services, - including investment of public funds (as such phn.ses an: defined in the lntalocal Act); ? \ I WfŒ...I{EAS, the In!erlocal Act autiorize.s the contracting parties to any intcrlocal agre::ment to contract with agencies of the Stat:: of Texas, within the mc:aning of Chapt::r 771 of the Governmenc Code, " -t' W'HE.R.E.As, the Act permits the contracting parries to any interIoca1 agreemc::nt to create an ad~trarive agency Ço supervise the performanœ of such intalocal agrcc:menc and to employ personnel and engage in other adminiStr.ltive activities and provide otha administrative services nece:s.sary Co ~ecute the terms of such interIcx:al agnxmenc; WHEREAs, the Public Funds Investment Act, Chapc::r 2256 of the Ta.;u Government Code, as arnendr:d (the -PFIA -), authorizes the entities described in Subsection (a) of the PFIA to invest their funds in an eligible public funds investment pool, and the in!end3 to become and remain an eligible public funds invest.'TIe:1t pool, under the t::rms and conditioru set forth in PFlA; unJrnr,S City of North Richland Hills ..~, (the -Government Entity-) desin:.s to enter inco tha! certain In!erIocal Agrcc:ment (the - Agnxmc:nt-), a copy of which is prcscntr:d with this R~olution and is incorporaced hc:rein by r~f~rencc. and to'bex:ome .a. participant in .a public funds investm~nt pool crl::aced thereunder and under PRA, Co be known as Local Government Investment Cooperative (the -Cooperarive-); WHEREAS. Ü1e Governmc:nc Entity is a Govc:rnment Entity as defIned in the Agra:mc:nc; and Rc.s.olutio!l -{- Appendix H WHE.'ŒAS. m. Gov..."m.nt Entity d""ir-..s to caus<: adminÜ~'"2tion of me Coope...tiv. to be per{onnerl by a board of directors Cei. 'Board'), wèJch ..hail be "'" administrative 4g~:1CY cr~~ !Jnd~r the InterlOC3l Act; and WHE.'ŒAS, mo Govommont Entity d""iro.. to d""igru", the Board as its ag,,"cy and in..trumentality with authority to "UpeMS<: penonnanco of the Agr::em..", employ perSOMol and ong<ge in othor administntive activiti"" and provide othor admini..""tivo S<:MC"" n«=ry to ~;c:ecu~ the terms of the Agr~ment; WHE.'Œ.".S · ""eh capitaliw:! "'nn u.sed in thi.. R""olution and no t 0 thorwise defined has the same meaning 4SSÍgned to it in the Ag~m~nt; NOW, TIŒ.RE.FORE, BE IT RESOL VED: r ( , 1. The Agn:::ment u hereby approved and adopted and, upon ""<:cutinn th=fbyan Authorized Representative Cddîned below) and =ipt of !be Gov=men, Entity'. applicatinn to join the Cooper¡¡tive by the Ad!11ÚÚs!r.uor, the Governmen, Entity shaLl become a Participant in the Cooperui vo fnr the purpose of investing its aV<lÏ1able funds therein from time to time in accordance with its terms. ¡ 2. The Board is hereby desjgnated as an ageney and instrumentality of the Gov=men, Entity, and the Board shaLl have the authority to .upc:rvise perfnI111;u¡o:: of the Agn:::men, and the Coopenti ve, employ persoMeJ and eng;1ge in other administntive activities and provide other administntive ""Me"" nec=ry to ""O:U!e the ternu of !be Agro:mc:nL J. The in'=tment polici"" of the Cooper.¡tive, as set fon/¡ in the document entitled Investmen, Policies, as sumlD4riza:l in the Information Statement, and as may be amended from time to time by the Board, an: bereby adopted as investment policies of the Governmen, Entity with respec, to money invested in the Cooperative, and any existing inv....tmen' policies of the Gov=ment Enti,y in conllier therewith shaLl no, apply to investments in the COOperative. 4. The f0110wing o{fiœrs, officials or employ"", of the Gov=ment Entity are hereby d....ignated as · Authoriza:l Rep=ntativ..... within the meaning of the Agn:::men" with fu11 poWer and authority '0; ""a:ute the Agreement, an application to join the Cooperative and any other documents ra:¡uired to ba:ome a Participant: deposit money to and withdraw money (rom the Government Entity's Coopentive account from time to time in accordance with the Agreement and the In(onnation Sta'ement: and take ail other actions deemed n<:C<:isary or appropriate for the u"....'men' of fund.. of the Government Entity: R.uolul.ÍOQ ·z· Appendix H Sig!l4tur:=: 0--d- ~~ Pri..1 t:::d Nam e: Bret Starr Title: Accountant SigI14tur.:, Cþ. ('I k2i 4 LI/2 J1 fJJ L ~I--) Printed N4me: Jackie Theriot Title: Accounting Manager Si¡IUtun:: ..-:'-- ,.·'··r ,/ . " "'ç;:, ,,>. \ :,,-,~I///- ___ "'- r ~ _ .:., Printed Name: Charles Harris Title: Finance Director r , In a.cx:.ordance with Cooper.ltive P~l1n:3, an Authorized Rq¡n:sentuive wu promptly notify the Cooperative in writing of any change3 in who ù 3aVÚ1g ;u Authoriz:d Repn:s.entativt:3. ~ ¡ 5. In 4ddition to the forqoing Authorized Repre:sentatiVt:3, ach Inv~c::nt Officer of the C~pcr.uive ~inted by the Boartf from time to time ù hereby dai¡natai 4.S an investment officer of the Government Entity and, 4j such, WU have rcsporuibility for investing the ~ of Coopc:r.uive <USet.3 n::prc::scnting funcb of the Government Entity. fuh depository 4l1d cu~todian appointed by the Beard from time to time arc hereby desig!l4ted 4.S a depository and custodian of the GOvernment Entity for purposc:s of holding the ~ of Coopc:..--:ative a.s.scts n:pn:.scnting funcb of the Govcmmc.1C Entity. PASSED AND APPROVED thi3 25 day of March , 19~. ^ TTEsr: By, 9 '-<":<--/-;z';;ln /-<-? Jeanette Re~is. City Secretary Primed name and title B~~~ T Y Brown, Mayo r PrinCcd Name 4l1d TItle SEAL û.o.I~ -J- Appendix H Additional Party Agrefillent Tne GoveI:1ment E'1tity of the State of Texas n2.ITIed below, acting by and through the und~r3igned Authorized Repr~entative, hereby agr~ to be::ome a party to Liat ce~.¿in InterlOCl! Agr~ment tD which this page is attached, and thereby become a Participant in the Local Government Investment Cooperative, subject to all of the t:=rrns and provisions of such Agreement. Tne undersigned hereby represents that it is a Government Entity as defIned in such Agr~ment. Executed this 25tttlayof /1arch 1996 , -' r.iry nf Nnrrh Ri~hl~TIrl Hill~ Name of Government Entity I r ~,~~~ By: ~ Autho '.. ep~entarive / -.eè' Tommv Bro~. Mavor Printed Name and Title ACCEPTED : Local G ent Investment Cooperative By: - cÁ.- LOGIC Administntor . PATRICK SHINKLE, V.P. Print:d Name and Title - ÚI~rloc~ ^tr==::ct:c -1(}" CITY OF NORTH RICHLAND HILLS Department: Parks and Recreation Department Council Meeting Date: 6/09/97 Authorizing the Submittal for Temporary "Partial" Closure of State Highway 26 and FM 3029 for the National Agenda Number: GN 97-54 Iron Kids Triathlon Resolution No. 97-23 Subject: The City of North Richland Hills is hosting the NationallronKids Triathlon on Sunday, August 24,1997. This national event includes swimming, cycling and running for children ages 7-14. Part of the cycling course is on State Highway 26 and FM 3029. In order to insure the safety of all participants, volunteers and staff, we have asked the Texas Department of Transportation for temporary "partial" closure of State Highway 26 and FM 3029. The temporary closure would be from approximately 7:00 am -12:00 pm, Sunday morning, August 24. TxDOT has agreed and requested that we complete the attached contract and ask City Council to pass a Resolution supporting the temporary "partial" closure of State Highway 26 and FM 3029. The NRH Police Department has collaborated with Parks & Recreation staff in developing a traffic plan for this brief closure. News releases and advance signage will inform the public of the closure and alternate routes prior to and during the event. NRH Police will be on site during the event and volunteers will assist in informing the public of alternate routes and assisting in maintaining safe routes for the competitors, staff and volunteers. \.- RECOMMENDATION: It is recommended that the City Council enter into an agreement with the Texas Department of Transportation for the temporary "partial" closure of State Highway 26 and FM 3029 and adopt Resolution No. 97-23, for the NationallronKids Triathlon event. Finance Review Source of Funds: Acct. Number Bonds (GO/Rev.) Sufficient Funds Available Operating Budget _ Other _ ~ 't,·~ -:----......:~ ~.._~ Department Head Signat . CnYCOUNC~ACnON"EM FINlnC8 Dlrectot Page 1 of / RESOLUTION NO. 97-23 A RESOLUTION AUTHORIZING THE CITY OF NORTH RICH LAND HILLS TO ENTER INTO AN AGREEMENT WITH THE TEXAS DEPARTMENT OF TRANSPORTATION FOR THE TEMPORARY CLOSURE OF STATE HIGHWAY 26 AND FM 3029 FOR THE NATIONAL IRONKIDS TRIATHLON ON AUGUST 24, 1997. WHEREAS, it is recognized that it is in the best interest of the citizens of the City of North Richland Hills that the NationallronKids Triathlon be held on State Highway 26 and FM 3029 in North Richland Hills, said event serving a public purpose; and WHEREAS, the City of North Richland Hills is requesting the temporary closure of State Highway 26 and FM 3029 to accommodate this event; and WHEREAS, the Texas Department of Transportation and the City of North Richland Hills have agreed to contract with each other concerning this request (attached contract incorporated by Exhibit "A"). THE CITY COUNCIL OF THE CITY OF NORTH RICH LAND HILLS HEREBY RESOLVES: SECTION 1. The City of North Richland Hills enter into an agreement with the Texas Department of Transportation for the temporary closure of State Highway 26 and FM 3029 on August 24,1997. PASSED AND APPROVED this the 6th day of June 1997. Tommy Brown, Mayor ATTEST: BY: Patricia Hutson, City Secretary APPROVED AS TO FORM AND LEGALITY: BY: Rex McEntire, Attorney for the City CITY OF NORTH RICHLAND HILLS ~. Department: City Secretary Appointments to Park and Recreation Facilities Subject: Development· Corporation Council Meeting Date: 6/9/97 Agenda Number: ~N A7 -~~ The following Board of Director's terms have expired and it has been recommended that the following be reappointed: JoAnn Johnson Tommy Brown Pam Jackson Place 2 Place 3 Place 6 Appointments also need to be made to fill the positions vacated by Mark Wood and Linda Spurlock Sansoucie. It has been recommended that Frank Metts, Jr. be appointed to Place 4 and Cheryl Cowen Lyman be appointed to Place 1. The terms of the officers have expired and it recommended that the following be appointed: ',,---- C.A. Sanford, President Larry Cunningham, First Vice President Randy Shiflet, Second Vice President Patricia Hutson, Secretary Lisa Daughtery, Assistant Secretary Larry Koonce, Treasurer Recommendation: It is recommended that the City Council take action on the proposed appointments. Finance Review Source of Funds: Acct. Number Bonds (GO/Rev.) Sufficient Funds Av ilable Operating Budget _ ~er _ \rYc:wvèt¿¿~ Department Head Signature CnYCOUNC~ACnON"EM F1Mnce Director Page 1 of CITY OF NORTH RICHLAND HILLS '--. ùepartment: City Secretary Appointments to Boards/Commissions Subject: Council Meeting Date: Agenda Number: 6/9/97 GN 97-56 Several of the appointments to the City's Boards and Commissions expire in June. The following have been recommended for appointment. Animal Control Shelter Advisory Committee Place 1 Place 3 Beautification Commission Place 1 Place 3 Place 5 Place 7 Board of Adjustment "- Place 1 Place 3 (Alternate) Place 5 Place 7 Board of Appeals Place 1 Place 3 Place 5 Place 7 (Alternate) Cable Television Board Place 1 Place 3 Place 7 Joe D. Metcalf, DVM Don Sharp Patsy Tucker Deloris Pultz Jane Dunkelberg Pam Hoffman Perry Christensen Paul Young Tommy Duer Cindy Martin Garry Cope Michael Dean John Larriviere Dottie Morris David F. Anderson David Whitson Lynn Wade Finance Review Source of Funds: Acct. Number Bonds (GO/Rev.) Sufficient Funds Availa Operating Budget _ ~~<¿~ Department Head Signature CITY COUNCIL ACTION ITEM Finance Director ? Page 1 of Library Board '-- Place 1 Place 3 Place 5 Place 7 Alternate Polly Brinkley Mary Shilcutt Avis Crisp Kay Schmidt William E. Merrill Park and Recreation Board Place 1 Place 3 Place 5 Place 7 Alternate Ann Perchard Rick Work Pam Jackson Sharon Battles John Pena Capital Improvement Advisory Committee and Planning & Zoning Commission Place 1 Place 3 Place 5 Place 7 Alternate Paul Miller Don Bowen Richard Davis Mark Wood Jill Spicer "-.. Teen Court Advisory Board Place 1 Place 3 Place 5 Place 7 Sabrina Lopez Ronald Moore Kathy Graves Kent Choate Town Hall Committee Mayor Place 1 Place 2 Place 3 Place 4 Place 5 Place 7 ~n~~~ Ron Lueck {1 Thomas A. Hodge Jim Kemp Rick Graves Ross Hood Aline Parker Recommendation: It is recommended that the City Council take action on the proposed appointments. "-- CITY OF NORTH RICHLAND HILLS Subject: City Secretary Appointments to Crime Control and Prevention District Council Meeting Date: 6/9/97 "- Department: Agenda Number: GN 97-57 Appointments need to be made to fill the positions vacated by Mark Wood and Linda Spurlock Sansoucie on the Crime Control and Prevention District. It has been recommended that Don Phifer be appointed to Place 4 and Cheryl Cowen Lyman be appointed to Place 7. Councilman Welch's term has also expired and it has been recommended that he be reappointed. These appointments are two year terms. Recommendation: It is recommended that the City Council take action on the proposed appointments. \....- Finance Review Source of Funds: Acct. Number Bonds (GO/Rev.) Sufficient Funds Available Operating Budget _ "---~r _ _. " /. ¿ ;' f:lt1lðta~ Department Head Signature CnYCOUNC~ACnON"EM FlnMce Director Page 1 of , CITY OF NORTH RICHLAND HILLS Department: Public Works Set Date for Public Hearing on Street Subject: r.lmaJrA nf ~~Iw~y I ~nA/NnrthrirlOA Rnl J I A v:::! rrl Agenda Number: 6/09/97 GN 97-58 Council Meeting Date: It is proposed that July 14,1997 be set as the date for a Public Hearing on considering closing Galway Lane/Northridge Boulevard at a location 140 feet north of the Lynda Lane intersection centerline. Proper legal notice of the Public Hearing will be published in the newspaper 30 days in advance of the hearing (see attached). Notices will be mailed to all property owners to insure they are notified at least 15 days prior to the Public Hearing. Recommendation: It is recommended that July 14, 1997 be established as the date for the Public Hearing on street closure of Galway Lane/Northridge Boulevard. } , ¡ Finance Review Source of Funds: Bonds (GO/Rev.) Operating Budget _ Ot e Acct. Number Sufficient Funds Available FlnMce OR<:IO' J ment Head Signature CITY COUNCIL ACTION ITEM Page 1 of CITY OF N$RTH RICHLAND HILLS Office of the City Secretary June 3, 1997 LEGAL NOTICE NOTICE IS HEREBY GIVEN that the City Council of the City of North Richland Hills, Texas will hear and determine whether or not the following public street will be closed: " r ¡ GALWAY LANE at a point where it changes to Northridge Boulevard being the same point where it abuts the west property line of Lot 1, Block 3, Northridge Addition in North Richland Hills, Texas. The public is invited to appear and offer protests and suggestions. The hearing will be held in the North Richland Hills City Council Chambers at 7301 Northeast Loop 820 at 7:30 p.m. on July 14, 1997. Signed this 3rd day of June, 1997. qátßCta: ~ City Secretary P.o. Box 820609 . North Richland Hills, Texas· 76182-0609 USA 7301 Northeast Loop 820 . 817 -581-5502 . FAX 817-581-5516 I - I - I - 30 29 28 27 26 '-'5 24 '31 "r .. "... , '> EMERALD HJLLS WAY " I'C'OO .. ., 15 7Ð'3tp S~24 ~ ~ ,., 36 16 17 .... 17 ., ., .... u 6 u 15 Z 5S 20 -1 :: 0 ' 55 o¿. I 3~ ;? :~ (J 7 -.J 14 2 16 ;- :: ~ ~ Ie:. -1 a: 5517 :x 34 3 .... 14 W 19 -1 .... :!: ~ .... 551'8 l:J '5 ::51¿'" -.J 33 .. en 13 2 ::J '3505 0 S~~q 32 , 12 !%o.5' 11 10 9 B 7 22 SHANNON LN 8 9 10 11 12 I) 14 I~ f'" '-'- a :> ..J en V) .... :> -t a 1-1 ;:oq .,~)' 3 2 1 I I 8 9 10 3~ l'WOO '-\ [If\~." 15 14 ê 3 0 .. ';- r, 5 .'t/1Þ.JC LYNDA LN 5 22 23 7 2 21 3 5 .. 3 2 w ~ a .... a: I r- a: 0 z 13 ~ 1 IIr 9 19 c:. '" .., ., 4A c::: a 27 z ~ I.J.. I.J.. .... 28 r- 29 30 - - - 30A . 3: - - - - 3IA '" ~ 32 ., 8 18 17 5R :5 BR :5 .,.,.,..,.. Q " r' 9A 14 :0'1 c 8 50 " LONSDALE =< c ., on #"0 " .I.:. ' - A 32 \ 23 IO-R - 7~O I HARWOOD RD. 1900 II NO{2ICH-- PIH21L-- L-oc;.Ä T7 (ñj 0 F- f1ZeA:J?E-fJ CL-o~r2E:- TA,lõF 10 AC 3 4 5 6 7 i 9 ' I B BOOOL YNDA LN 5 .... u ~~ . . 13 14 - ? c:: .' 0............. '- en o 1 cn 38,· ~~OOþ g ~ ~ ~ -~ "-----.-- -...--.. ~ NORJ;h'RIDGE' ., c I .~ "'---::'''0/ Uy' \ -~ :,~ 2 , I !.r1,I,I, , r:1" 1",1 F ) 8 3 2 CITY OF NORTH RICHLAND HILLS Department: Finance / Support Services Council Meeting Date: 6/9/97 Subject: Authorize Purchase of Street Sweeper Through HGAC Cooperative Purchasing Program Agenda Number: PU 97-47 As part of the 1996/97 Major Capital Equipment Program, Council approved the purchase of a new street sweeper. The proposed sweeper may be purchased through the Houston- Galveston Area Council Cooperative Purchasing Program (HGAC). All State competitive bidding requirements will be met if Council authorizes this purchase through HGAC. The total cost of the Elgin Whirlwind Vacuum Street Sweeper will be $119,759 and will take approximately sixty days for delivery. Council appropriated $120,000 from the recent sale of certificates of obligation for purchase of this equipment. Recommendation: It is recommended City Council authorize the purchase of a new Elgin Whirlwind Vacuum Street Sweeper through the Houston-Galveston Area Council Cooperative Purchasing Program in the amount of $119,759. '-- Source of Funds: Bonds (GO/Rev.) Operating Budget k. Other Finance Review Acct. Number 10-01-62-6000 Sufficient Funds Available Ignature CITYCOUNC~ACnON"EM Flnllllce Dlrectot Page 1 of CITY OF NORTH RICHLAND HILLS Department: Finance / Support Services Council Meeting Date: 6/9/97 Subject: Award Bid for 1997 Tractor/Loader with Rackhoe Agenda Number: PU 97-48 In the 1996/97 approved budget, Council appropriated funds for the purchase of a tractorlloader/backhoe. Formal bids were solicited and the results are outlined below. Moody Day, Inc. 1S;·'·'~:U:?'1··WB'·'·~B.·':':·IW . " '. ..... " ~w:.:~J...'...~..:V:y Future Equipment Company $53,010 $55,831 RDO Equipment Company This equipment is replacing an older unit and will be used by the Public Works/Utility Department. Moody Day, Inc. met all the specifications and general conditions of the bid and can deliver the tractor in ninety days. ',-- Recommendation: It is recommended City Council award the bid for the tractorlloader/ backhoe to Moody Day, Inc. in the amount of $51,880. Finance Review Source of Funds: Bonds (GO/Rev.) Operating Budget L 12 \... Other 4- ~.f}J~¡P ~ epartment 1!fë'ad Signature CITY COUNCIL ACTION ITEM Acct. Number 06-01-03-6600 Sufficient Funds Available Finance Director Page 1 of CITY OF NORTH RICHLAND HILLS '\...- Department: Finance / Support Services Council Meeting Date: 6/9/97 Subject: Award Bid for 1997 Tractor Agenda Number: PU 97-49 In the 1996/97 approved budget, Council appropriated funds for the purchase of a tractor. Formal bids were solicited and one bid was received from Saginaw Implement Company in the amount of $20,156. This equipment is replacing an older unit and will be used by the Parks Department. Saginaw Implement Company met all the specifications and general conditions of the bid and can deliver the tractor in thirty days. Recommendation: It is recommended City Council award the bid for the 1997 tractor to Saginaw Implement Company in the amount of $20,156. Source of Funds: Bonds (GO/Rev.) Operating Budget ..lL "'-... Other Finance Review Acct. Number 06-01-03-6600 Sufficient Funds Available Signature CITY COUNCIL ACTION ITEM Fln8l'lC8 Director Page 1 of CITY OF NORTH RICHLAND HILLS "-- Department: Finance I Parks and Recreation Department Council Meeting Date: 6/9/97 Subject: Authorize Extension of Annual Contract for Aquatic Chemical Supplies for NRH20 Agenda Number: PU 97-50 Council previously authorized extension of the contract to supply aquatic chemical supplies to Advance Chemical Distribution (PU 96-33). The company has agreed to extend this contract an additional year at the 1996 contract prices. The contract terms allow for one more extension before bid solicitation is required. Advance Chemical Distribution has provided reliable service and technical support during the last contract year and has met all the daily requirements of NRH20 Water Park. Recommendation: It is recommended City Council extend the contract to supply aquatic chemical supplies to Advance Chemical Distribution for an additional year. Finance Review Source of Funds: Bonds (GO/Rev.) Operating Budget _ '/ Other . 21-02-01-2100 Finance DnClor Page 1 of CITY OF NORTH RICHLAND HILLS '- Department: Finance / Parks and Recreation Department Council Meeting Date: 6/9/97 Subject: Award Bid for Turf Improvement at Green Valley Community Park and Soccer Complex Agenda Number: PU 97-51 At the May 12, 1997 meeting, Council approved funding for the Green Valley Park Turf Improvement Program (GN 97-51). Formal bids were solicited for 25,200 square yards of Tif 419 bermuda sod to be installed on soccer fields and the results are outlined below. Thomas Brothers Grass ~~~r4ijõ ~n£t9..d Sportco, Inc. $56,700 Thomas Brothers Grass met all the specifications and general conditions of the bid and can install the sod in the required fifteen days. The funding source approved by Council is as follows: "- Supplemental Funds 09-92-45-6000 $22,000 Soccer Field Maintenance 09-75..Q2-3130 $13,597 Mid-Cities Landscape 09-92-46-6000 $12,283 Recommendation: It is recommended City Council award the bid for the installation of Tif 419 sod at Green Valley Park to Thomas Brothers Grass in the amount of $47,880. Finance Review Acct. Number See Above Sufficient Funds Available Source of Funds: Bonds (GO/Rev.) Operating Budget _ '"', Other _ ~ ~ ~. , " : AlA.... ~ 0 ~ ~- -. Departme&~gnature' CITY COUNCIL ACTION ITEM Finance DIreClot Page 1 of CITY OF NORTH RICHLAND HILLS Department: Finance / Police Department Council Meeting Date: 6/9/97 Subject: Authorize Extension of Annual Contract with Forensic Consultant Services Agenda Number: PU 97-52 Council authorized an annual contract with Forensic Consultant Services (PU 96-30) in the amount of $10,000. Forensic Consultant Services is offering to extend the annual contract for forensic lab and field services at the current rates. This contract will be cost effective because it will give the City a blanket price for all the required services instead of paying for services on an individual as need basis. Some of the services that will be included under the contract are drug analysis, firearms analysis, fingerprint development and comparison, blood and alcohol analysis, trace evidence, written reports on all services, and the Lab will offer testimony in court to relate results of all analysis. The contract price will also include the intoxilyzer supervision. The Police Department has worked with Forensic Consultant Services for a number of years and has been very satisfied with the quality of service provided. Recommendation: It is recommended City Council extend the annual contract with Forensic Consultant Services in the amount of $10,000. Source of Funds: Bonds (GO/Rev.) Oper . g Budget L Oth Finance Review Acct. Number 01-80-06-2150 Sufficient Funds Available epartment Head Signature CITY COUNCIL ACTION ITEM Finance OIrec\Ot Page 1 of CITY OF NORTH RICHLAND HILLS Department: Finance I Police Department Council Meeting Date: 6/9/97 Subject: Award Bid for Color Laser Printer Agenda Number: PU 97-53 Competitive sealed bids were solicited for a Xerox color laser printer to be used by the Police Department. The results are outlined below. ACT Print Systems 'l>w.?::*"'·:«am~:i""""'''''B.''''' . .....: ..... ..... ::..,r";" .......:..:::-c Keystone Information Management $ 9,426 $ 9,569 $10,095 Absolute Systems Maintain Systems This printer will be installed in a network environment to be utilized by all Police Department employees on the local area network. ACT Print Systems met all the specifications and general conditions of the bid and can deliver the printer in five days. Fundina Source: There are sufficient funds available in the Special Investigation Fund to purchase this equipment. Recommendation: It is recommended City Council award the bid for a Xerox color laser printer to ACT Print Systems in the amount of $8,518. Source of Funds: Bonds (GO/Rev.) Operating Budget _ Ot Finance Review Acet. N um be r 03-90-00-6400 Sufficient Funds Available ent Head Signature CnYCOUNC~ACnON"EM J"Å Fin..... Dw.ClOt anager Page 1 of CITY OF NORTH RICHLAND HILLS Agenda Number: 6/09/97 PU 9?-51A Department: Public Works Award of Bid for Iron Horse Golf Course Subject: 1997 Frn5;inn r.nntrnl Imrrnvpm~mt5; Council Meeting Date: Bids were received by the Purchasing Agent on May 27,1997. Two bid proposals were submitted. Bidder Amount Calendar Days Bid Time Craig Olden, Inc. (gab ion slope liner & walls) $256,950.00 120 Knight Erosion Control, Inc. (concrete bag walls "R-Rap") $323,339.00 100 ! ? I The low bidder requested to propose gabions (wire baskets filled with rocks) instead of concrete bags for the material to form the slope walls. This was approved by the City approximately a week ahead of the bid date. Gabions have previously been used on the golf course and have performed well. í " The preliminary estimate for this project was $115,000. Sufficient contingency funds exist in the $600,000 allocated for golf course improvements. This project will construct 3 out of the 4 items listed as top priorities on the golf course's improvements list. Award of Bid Preconstruction Conference Begin Construction End Construction June 9, 1997 June 17, 1997 June 23, 1997 October 20, 1997 Recommendation: Staff and the golf course management company recommend Council award the bid to Craig Olden, Inc. in the al)1ount of $256,950.00 for a period of 120 calendar days. Source of Funds: Bonds (GO/Rev.) Operating Budget _ Oth Finance Review Acct. Number _ 10-01-05-6000 Sufficient Funds Available FI"""C8 Director Page 1 of CITY OF NORTH RICHLAND HILLS 06109/97 Fire Department Department: ~ Council Meeting Date: Haz-Mat Truck & Trailer Purchase and Financing Agreement PU 97- 55 Agenda Number: , "ubject: '-- The Northeast Fire Training Association (NEFTA) is a multi-city organization which provides hazardous material services and explosive disarmament and disposal for eleven cities in the Northeast part of the county. NEFTA's current hazardous material truck and trailer is not large enough to accommodate it's current inventory of confinement and clean up equipment. As part of the G.O. bond sale in April of this year, $85,000 was included for the purchase of this equipment. NEFTA seeks authorization for the $85,000 which is to be paid back in five (5) annual payments. This arrangement was approved at the last budget retreat. The attached contract requires council approval.and the mayor's signature. ,-. Recommendation It is recommended that City Council approve the contract with the Northeast Fire Training Association. Source of Funds: Bonds (GO/Rev Operating B d t Other Finance Review Acct. Number Sufficient Funds Av ¡Iable . Finance Director Paae 1 of__ THIS IS A CONTRACT BETWEEN THE CITY OF NORTH RICHLAND HILLS, TEXAS, A HOME RULE CITY, AND NORTHEAST FIRE TRAINING ASSOCIATION, A TEXAS NOT- FOR-PROFIT CORPORATION, DEDICATED TO THE ADVANCEMENT OF THE FIRE- SERVICE IN THE CITY OF NORTH RICHLAND HILLS AND OTHER CITIES IN NORTHEAST TARRANT COUNTY. WHEREAS, the City of North Richland Hills, Texas is dependent upon Northeast Fire Training Association (herein called NEFTA) to furnish the equipment to handle hazardous material; and WHEREAS, the equipment furnished to the City of North Richland Hills, Texas by NEFT A protects the health and general welfare of the City and its inhabitants; and WHEREAS, NEFTA has a need to purchase a new truck, trailer, and other hazardous material equipment and has requested the City of North Richland Hills, Texas to advance the sum of $85,000 for this program. NOW THEREFORE, KNOW ALL MEN BY THESE PRESENTS, THAT: 1. With the signing of this agreement by NEFTA, the City of North Richland Hills, Texas has advanced $85,000 to NEFTA for the purchase of a new truck, trailer and miscellaneous equipment all of which will be designated for handling hazardous material. 2. NEFTA agrees to use the money for this purpose and no other. 3. NEFTA agrees to repay the $85,000 in five annual payments of $17,000 each (with interest at 5.591979%) on January 5th of each year beginning on or before January 5, 1998, with a like payment to be made on or before January 5, 1999, and each successive year until fully paid. Payments shall be made to the City of North Richland Hills at 7301 Northeast Loop 820, North Richland Hills, Texas 76182. The payments, with interest at the rate of 5.591979%, have been amortized at $19,669.00 each payable annually as set out above. 4. The failure to timely pay any installment in full will constitute a default and' NEFTA will surrender the truck and trailer purchased by these funds to the City of North Richland Hills, Texas upon demand as its property. Page 1 The execution of the contract by NEFTA has been approved by its Board of Directors. Signed this day of ,1997. NEFTA by: Rick D. Frye, Vice-President ATTEST: Kelly B. King, Secretary CITY OF NORTH RICHLAND HilLS by: Tommy Brown, Mayor ATTEST: Patricia Hutson, City Secretary APPROVED AS TO FORM AND LEGALITY: Rex McEntire, City Attorney Page 2 CITY OF NORTH RICHLAND HILLS Department: Public Works Public Hearing on Hightower Drive ~Adinn~ A? & R A~~p.~~mp.nt~ Council Meeting Date: Subject: Agenda Number: 6/09/97 PW 97-14 All notices to the owners of the properties adjacent to this 3,275 foot section of road from Crosstimbers Lane to Meadow Creek Road have been mailed in accordance with the law. Advertisement of the proposed assessment rates and public hearing occurred in a local newspaper on May 12th, May 19th, and May 26th. Staff recommends the public hearing be opened and the consultant who conducted the Enhancement Study be introduced. After the Enhancement Study has been presented, interested property owners should be given an opportunity to speak. r / I Finance Review Source of Funds: Bonds (GO/Rev.) Operating Budget _ -,.,.- Oth r Acct. Number Sufficient Funds Available Fin"".,. Onelor ture CITY COUNCIL ACTION ITEM nager Page 1 of CITY OF NORTH RICHLAND HILLS , Agenda Number: 6/09/97 PW 97-15 Department: Public Works Close Public Hearing and Establish Assessments fnr ImprnVAmAnts nn Hightower Drive - Ordinance No. 2211 Council Meeting Date: Subject: This ordinance closes the public hearing and levies the assessments for the cost of improvements on Hightower Drive, Sections A2 and 8 from 300 feet west of Crosstimbers Lane eastward to Meadow Creek Road. Recommendation: It is recommended Council approve Ordinance No. 2211. r I I Finance Review Source of Funds: Acct. Number Bonds (GO/Rev.) Sufficient Funds Available Operat;ng Budgel _ ~ ~ 01 .r I J) ~ e:h ;-. ~~. enl Hea~~ , ~~ana!ter CITY COUNCIL ACTION ITEM Finance Director Page 1 of --_.__.._,~"--,-,----_..._,~---~-~------,.- ORDINANCE NO, 2211 AN ORDINANCE MAKING SPECIAL ASSESSMENTS FOR STREET, CURB AND GUTTER, DRAINAGE AND SIDEWALK IMPROVEMENTS ON A PORTION OF HIGHTOWER DRIVE; CLOSING A PUBLIC HEARING; PROVIDING FOR PAYMENT IN ANNUAL INSTALLMENTS; PROVIDING FOR RECORDING THE LIEN WITH THE COUNTY CLERK AND ADOPTING ALL STATUTORY POWERS. WHEREAS, the City Council has heretofore examined and approved the estimates for construction of street, curb and gutter, drainage, and sidewalk improvements on Hightower Drive from 300 feet west of Crosstimbers Lane eastward to Meadow Creek Road, a public street, and has set a time and place for a public hearing on assessment of abutting property; and WHEREAS, said assessment hearing has been held this date and all owners of abutting property have been given the right to offer protests and suggestions concerning all aspects of the assessment for said improvements; and r WHEREAS, all notices have been lawfully published and mailed and all things have been done to perfect the passage of this assessment ordinance. I I NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF NORTH RICHLAND HILLS, TEXAS, that: 1. The public hearing be closed. 2. That the previous approval of the estimate of costs of these improvements on Hightower Drive is hereby ratified and affirmed. The City Council finds and determines the necessity for these improvements and orders same. 3. That a portion of the estimated cost of $1,431,575.54 be paid for by assessment of abutting property owners and the abutting property based upon the front foot rule. 4, The assessments made and established by this ordinance are on the property shown on the assessment rolls attached to this ordinance as Exhibit "A". __'__"_~_"~___~_'__~k_'___~__"_"___'__~~_____'________.,~_.~~- The assessment against each owner and each tract shall be paid to the City of North Richland Hills in five equal installments as follows: The first installment shall be due ninety days from the date the project is finished and approved by the City; the second installment shall be due one year from the date the first installment is due; the third installment shall be due one year from the date the second installment is due, the fourth installment shall be due one year from the date the third installment is due and the fifth installment shall be due one year from the date the fourth payment is due. The rate of interest on the assessment shall be 8% per annum which shall begin to run from the date the project is finished and approved by the City. Nothing contained herein shall prevent the entire assessment from being paid in one payment. A personal liability and charge against the owner of the abutting property regardless of whether or not he is named, is hereby assessed, as well as the assessment against the property. 6. A lien is hereby established against each tract of land abutting the project as shown on the assessment rolls (Exhibit "A", hereto). f 7. The City Secretary is authorized and ordered to file the liens created hereby with the office of the County Clerk of Tarrant County, Texas. 8. The City Council declares that it has adopted this ordinance pursuant to the laws of the State of Texas and all the powers and rights given to Home Rule Cities in the laws granting assessment powers are adopted and incorporated herein by reference the same as if set out verbatim, PASSED AND APPROVED this 9th day of June, 1997. APPROVED: Tommy Brown, Mayor ATTEST: Patricia Hutson, City Secretary APPROVED AS TO FORM AND LEGALITY: Rex McEntire, Attorney for the City t I I OO-.q- :;:;oo.q-r-.q- ÕOVìN\O E-VìN-N Y7Y7Y7~ OJ) r:rJ . 5 0) > .....<'= cojP-. ~ ..... ~ 0) S C/':J C/':J 0) C/':J <I) C/':J~ ~~ v :-g C/':J OVìOOO\ ("ì-O.q- ~~\O~ v OJ) <'= t:: <'= :- Q OOO'\Vì- O'\.q-N("ì ~00.q-~ .q-N\o.q- 00 0\ 0'\ 00 r- ("ì - r- OOO.q-NO ~\OOO.q-OO U-OON < VJ C o .- -- U ~ __ ~.9 c v ~ ~.2: E .:: :- VJ :... Q VJ Q <I) ~ :- VJ V VJ .D < 6 E- - õ ~ ~ .- "Q .- ,.Q ~ ~ "0 :0;: -.. 0 ~~ ~~ v ~ :- <U ;?; o "0 :0;: v ~ :... ~ ~ o -- ... <I) - <I) ~o .- :- :;t1u ~~~2 CIJ ...... c::: (l) E (l) > o I-. 0.. 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I Z o t:I 0 ..!- I ~ I U t:I W æ (f) ENHANCEMENT SUMMARY Parcel No. Owner Net Land Size Enhancement 4 Anita Hall, et vir 1.8492 Ac. $ 1 ,400 6 David Pendrey, et al 1.8379 Ac. $ 1 ,400 8 Timothy Reagan, et ux 1.2454 Ac. $ 950 9 TEC Construction, Inc. 2.4119 Ac. $ 2,100 10 Melanie Ann Combs 1.252 Ac. $ 950 11 Louis McCrory, et ux 1.7629 Ac. $ 950 12 Louis McCrory, et ux 1.2285 Ac. $ 950 13 Dorothy Lewis 0.5278 Ac. $ 500 14 Roy Strickland, et ux 1.1215 Ac. $ 700 15 WC] Rufe Snow 94, Ltd. 15.0 Ac. Aól<.E.t.-MfNr 16 Ronald Mosely. et ux 0.1291 Ac. NONE 17 Birdville ISD 8.2829 Ac. NONE 18 David Mulvaney, et ux 0.2505 Ac. NONE 19 Kenneth Walker, et ux 0.244 Ac. NONE 20 Shawn McGee, et al 0.3079 Ac. NONE 21 Donna Bauer 0.2494 Ac. NONE 22 Glenda Kemmerling 0.23 Ac. NONE 23 Gary Powell, et ux 0.22 Ac. NONE 24 Rodger Boe, et ux 0.233 Ac. NONE 25 Mark Warren, et ux 0.2479 Ac. NONE 26 Keith Dodd 1.9449 Ac. $ 1,300 27 Bobby Fanning, et ux 2.9162 Ac. $ 1,600 28 Robert Famig1etti, et ux 2.1923 Ac, $ 1,650 Sincerely, W. Paul Young, N State Certified General Real Estate Appraiser