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CC 1989-09-24 Agendas
I. I I I I I I I I I I I I I ~I ~I ,I I ~I CITY OF NORTH RICHLAND HILLS PRE-COUNCIL AGENDA SEPTEMBER 25, 1989 - 6:30 P.M. For the Meeting conducted at the North Richland Hills City Hall Council Chambers, 7301 Northeast Loop 820. NUMBER ITEM ACTION TAKEN 1. GN 89-111 Renaming Municipal Drive to Dick Fisher Drive - Ordinance No. 1632, and Establishing Name of Bear Creek Boulevard - Ordinance No. 1633 (Agenda Item No. 14) (3 Minutes) 2. Explanation of Motion on Budget - Councilman Scoma (3 Minutes) 3. GN 89-120 Public Funds Investment Policy (Agenda Item No. 23) (10 Minutes) 4. GN 89-119 Public Hearing for Consideration of Application for Tax Abatement by AEGON/Life Investors - Ordinance No. 1635 & Resolution No. 89-42 (Agenda Item No. 22) (5 Minutes) 5. GN 89-112 Software Development for~Fire Department (Agenda Item No. 15) (5 Minutes) I. I I I I I I I I I I I I I ,il iil ·1 I ...'.·...'..........:....c......1. '\. Page 2 NUMBER ITEM ACTION TAKEN 6. PU 89-20 Award of Bid to Physio-Control Corporation for Defibrillator/ Monitors (Agenda Item No. 35) (3 Minutes) 7. Items on Consent Agenda not on Pre-Council - (Item Nos. 13, 16,17,18,19,20,21,34,36, 37 & 38) (4 Minutes) 8. Possible Work Session (2 Minutes) 9. Other Items (5 Minutes) 10. *Executive Session (10 Minutes) a. Personnel b. Briefing on Pending Litigation c. Review of Progress on Land Acquisition 11. Adjournment - 7:20 p.m. *Closed due to subject matter as provided by the Open Meetings Law. If any action is contemplated, it will be taken in open session. I. I I I I I I I I I I I I I ,I I I I I CITY OF NORTH RICHLAND HILLS CITY COUNCIL AGENDA SEPTEMBER 25, 1989 For the 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. NUMBER ITEM ACTION TAKEN 1. Call to Order 2. Roll Call 3. Invocation 4. Minutes of the Regular Meeting September 11, 1989 5. Minutes of the Special Meeting September 18, 1989 6. Presentations by Boards & Commissions a. None 7. Presentation of Proclamation to CareFlite 8. Special Presentation of "Yard of the Month" Awards 9. Special Presentation by Jimmy D. Williams 10. Removal of Item(s) from the Consent Agenda 11. Consent Agenda Item(s) indicated by Asterisk (13, 15, 16, 17, 18, 19, 20, 21, 23, 34, 35, 36, 37 & 38) I Page 2 I I NUMBER ITEM ACTION TAKEN I 12. PZ 89-11 Public Hearing for Consideration of an Amendment to Zoning I Ordinance #1080, Section 24.6 (Temporary Sales) Allowing Schools and Churches to Have I Rummage Sales - Ordinance No. 1628 I *13. GN 89-110 Amendment to Ordinance No. 1560 I Chimney Inspections - Ordinance No. 1629 I 14. GN 89-111 Renaming Municipal Drive to Dick Fisher Drive - Ordinance No. I 1632, and Establishing Name of Bear Creek Boulevard - Ordinance I No. 1633 I *15. GN 89-112 Software Development for Fire Department I *16. GN 89-113 Adoption of Fiscal Year 1989-90 I Budget - Ordinance No. 1631 *17. GN 89-114 Certified Tax Roll - Resolution I No. 89-40 I *18. GN 89-115 Exemptions for Budget Year 1989/90 - Resolution No: 89-41 I *19. GN 89-116 Tax Rate for Fiscal Year 1989/90 I - Ordinance No. 1630 I I I I I I I I I I I I I I I I I I I I Page 3 NUMBER ITEM ACTION TAKEN *20. GN 89-117 Approve Water Pipeline Crossing Agreement with Missouri Pacific Railroad Company - Resolution No. 89-39 *21. GN 89-118 Increase in Vehicle Impoundment Fees - Ordinance No. 1634 22. GN 89-119 Public Hearing for Consideration of Application for Tax Abatement by AEGON/Life Investors - Ordinance No. 1635 & Resolution No. 89-42 *23. GN 89-120 Public Funds Investment Policy 24. GN 89-121 Appointments to Board of Adjustment 25. GN 89-122 Appointments to Board of Appeals 26. GN 89-123 Appointments to Cable Television Board 27. GN 89-124 Appointments to Capital Improvement Advisory Committee 28. GN 89-125 Appointments to Civil Service Commission 29. GN 89-126 Appointments to Library Board I I I I I I I I I I I I I I I I I I I Page 4 NUMBER ITEM ACTION TAKEN 30. GN 89-127 Appointments to Park and Recreation Board 31. GN 89-128 Appointments to Planning & Zoning Commission 32. GN 89-129 Appointments to Teen Court Advisory Board 33. GN 89-130 Appointment to Beautification Commission *34. PU 89-19 Ratify the Purchase of Boring Machine *35. PU 89-20 Award of Bid to Physio-Control Corporation for Defibrillator/ Monitors *36. PU 89-21 Award of Office Supply Contract to Boise Cascade *37. PU 89-22 Award of Bid for Kitchen Equipment to Allied Food Service and Gernsbacher1s *38. PU 89-23 Approval of Replacement of Thirty Ton Air Conditioning System for City Hall on an Emergency Basis I I I I I I I I I I I I I I I I I I I 39. Citizens Presentation Mr. Lonnie Jeffers 7300 Boca Raton Re: Dirt Bike Nuisance 40. Adjournment I I I I I I I I I I I I I I I I I I I City of JXòrth Richland Hills PUBLIC NOTICE Emergency Item added to the September 25th City Council Agenda. 38A. PAY 89-07 Approval of Final Payment to Bruce Company for Dirt Work on Iron Horse Golf Course. ¿- " ¿~.¿~J Rewis, City Secretary (817) 281-0041 · 7301 N.E. LOOP 820 · P.O. BOX 18609 · NORTH RICHlAND HillS, TEXAS 76180 I I. I I I I I I I Ie I I I I I I I I" I INFORMAL REPORT TO MAYOR AND CITY COUNCIL No. IR 89-77 ,~ lL Date: September 20, 1989 T Subject: Þ-dvisory P-eport on Self Insurance for Fiscal 1988/89 The following is an updated advisory report on the City of North Richland Hills Self Insurance Fund. If you will recall the Self Insurance Fund was established in July, 1987, with a contribution made from the Utility Operating Fund of approximately $1,300,000. The initial contribution was made based on a study perfonned by the Wyatt Canpany. The annual contributions made by the operating funds (i.e. General Fund, Utility Fund, and Manageœnt Services Fund) was to be sufficient to meet current pay-out requirerænts, reserve requirement, and loan repayment of $650,000 thru installments over a five year period to the Utility Operating Fund. Initially the thinking was that because the General Fund employs approximately 2/3 of the City work force that the majority of all claims would be from that group and it would be equitable to repay a portion of the loan based on that assmnption. However, because the transfer \vas established as a loan, the amount is recorded as a liabili ty on the Self Insurance Fund I s balance sheet and thus does not show up as reserves or fund balance. In order to be made available for future claims in case our annual transfers are not sufficient and in order to build our future reserve to a level as recœmended by the Wyatt study, the monies transferred should be recorded as contributed capital and the loan forgiven. Current Operations-Self Insurance Fund As indicated above 2/3 of our employees covered by health and worker's compensation are employed by the General Fund. However, most \.mfunded claims or insufficient transfer funds for coverage expense has cane from the Utility Fund. It i~ projected that for fiscal year 1988/89 the Utility Fund will need to pay an additional $222,000 for unfunded claims. The Ci ty Council at the Budget Workshop in August was briefed on the projected shortfall. The shortfall that was projected then included actual claims thru May 31, 1989 and projected for. the balance of the year · The anticipated shortfall was approximately $223, 000 with a large majority of that associated with the Utility Fund. Current projections indicate that a shortfall of approximately $320,000 will be expected. However, final actual results will not be available fran our claims administrators until mid-November. City Council will be apprised of the situation at that time and solutions will be reconmended and scheduled for official Council action. Respectfully su1:mitted, ~ /l1~...~ lee Maness Director of Finance - ISSUED BY THE CITY MANAGER NORTH RICHLAND HillS, TEXAS I Ie I I I I I I I Ie I I I I I I Ie I I 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 - SEPTEMBER 11, 1989 - ì:30 P.M. 1. CALL TO ORDER Mayor Brown called the meeting to order September 11, 1989 at 7:30 p.m. 2. ROLL CALL Present: Tommy Brown Mayor Richard Davis Mayor Pro Tern Lyle E. Welch Councilman Frank Metts, Jr. Councilman Charles Scoma Councilman Byron Sibbet Councilman Linda Spurlock Councilwoman Staff: Rodger N. Line C.A. Sanford Jeanette Rewis Rex McEntire Greg Dickens City Manager Assistant City Manager City Secretary Attorney City Engineer Absent: Mack Garvin Dennis Horvath Councilman Deputy City Manager 3. INVOCATION Mayor Pro Tern Davis gave the invocation. 4. MINUTES OF THE REGULAR MEETING AUGUST 28, 1989 APPROVED Mayor Pro Tern Davis moved, seconded by Councilman Metts, to approve the minutes of the August 28, 1989 Meeting. Motion carried 6-0. 5. PRESENTATIONS BY BOARDS & COMMISSIONS A. LIBRARY BOARD MINUTES No action necessary. I ~ I I I I I I I ~ I I I I I I Ie I I September 11, 1989 Page 2 Mr. David Barfield, Planning and Zoning Commission member, appeared before the Council. Mr. Barfield requested the Council to reconsider funding in the budget for the Master Thoroughfare Plan. 6. REMOVAL OF ITEM(S) FROM THE CONSENT AGENDA Councilman Scoma removed Item No. 13 from the Consent Agenda. 7. CONSENT AGENDA ITEM(S) INDICATED BY ASTERISK (14, 15, 18, 19, 20, 21 & 22) APPROVED Mayor Pro Tem Davis moved, seconded by Councilman Scoma, to approve the Consent Agenda. Motion carried 6-0. 8. SPECIAL PRESENTATION BY MAYOR BROWN Mayor Brown and Mayor Pro Tem Davis presented Jeanette Rewis, City Secretary, with a Certificate of Service in appreciation of 20 years of service with the City. 9. PZ 89-14 PLANNING & ZONING - PUBLIC HEARING - REQUEST OF MARVIN D. SMITH TO REZONE TRACT 2B, JOHN CONDRA SURVEY, ABSTRACT 310, FROM AG AGRICULTURE TO R-1 SINGLE FAMILY (LOCATED ON THE NORTH SIDE OF DOUGLAS LANE WHERE IT MAKES THE TURN TO GO WEST) Mayor Brown opened the Public Hearing and called for anyone wishing to speak in favor of this request to please come forward. Mr. Marvin Smith, applicant, appeared before the Council. Mr. Smith stated this was a two acre tract and he planned to make it into four lots. Mr. Smith stated he planned to build 2,500 square foot houses with rear entry garages. Mayor Brown called for anyone wishing to speak in opposition to this request to please come forward. » There being no one else wishing to speak Mayor Brown closed the Public Hearing. 10. ORDINANCE NO. 1625 APPROVED I Ie I I I I I I I Ie I I I I I ,I Ie I I September 11, 1989 Page 3 Mayor Pro Tem Davis moved, seconded by Councilman Sibbet, to approve Ordinance No. 1625 with the stipulation of 2,500 square foot minimum houses and rear entry garages. Motion carried 6-0. 11. PZ 89-15 PLANNING & ZONING - PUBLIC HEARING _ REQUEST OF L.C. URBANOVSKY TO REZONE A PORTION OF LOT 2, CALLOWAY ACRES ADDITION FROM C-1 COMMERCIAL TO C-2 COMMERCIAL (LOCATED AT 3805 PARCHMAN STREET) Mayor Brown opened the Public Hearing and called for anyone wishing to speak in favor of this request to please come forward. Mr. L.C. Urbanovsky, 3605 Holland, appeared before the Council. Mr. Urbanovsky stated this property was located at 3805 Parchman. Mr. Urbanovsky stated this property had always been leased to tenants who were in some type of construction business. Mr. Urbanovsky stated he applied for a certificate-of-occupancy for a new tenant and discovered this type of business was not allowed in C-1 zoning. Mr. Urbanovsky stated he was applying for the zoning he thought he had for 15 years. Mayor Brown called for anyone wishing to spea,k in opposition. There being no one else wishing to speak Mayor Brown closed the Public Hearing. 12. ORDINANCE NO. 1626 APPROVED Councilman Scoma stated the property was supposed to be a minimum of one acre to rezone to C-2. Councilman Scoma advised this was only one-quarter of an acre and would be against the Zoning Ordinance. Mayor Pro Tern Davis stated this was adjacent to C-2, therefore it could be rezoned C-2 because it would be in conformance. Councilwoman Spurlock moved, seconded by Councilman Sibbet, to approve Ordinance No. 1626. Motion carried 6-0. 13. PS 89-4 REQUEST OF WILLIAMSBURG & ASSOCIATES FOR REPLAT OF LOTS 1R1, 3Rl & 3R2, BLOCK 7, INDUSTRIAL PARK ADDITION (LOCATED ON THE WEST SIDE OF RUFE SNOW DRIVE NEAR THE INTERSECTION WITH INDUSTRIAL PARK BOULEVARD)' APPROVED I ~ I I I I I I I Ie I I I I I I Ie I I September 11, 1989 Page 4 Mr. Delbert Stembridge, representing the applicant, appeared before the Council. Mr. Stembridge stated he was present to answer any questions the Council may have. Councilman Scoma stated he felt that the applicant should be required to install a fire hydrant and also to do a drainage study, per the staff's recommendation. Mr. Stembridge stated that the property had been zoned industrial for several years and studies had previously been done. Mr. Stembridge stated no additional fire hydrants were required at the time of the original platting. Councilman Scoma asked Mr. Dickens if it would not be better for the drainage to be on Rufe Snow. Mr. Dickens stated that he felt that the present drainage was sufficient. Councilman Scoma stated he felt that when the staff made recommendations the Council should support them. Councilman Scoma moved to deny PS 89-4. Motion died due to the lack of a second. Mayor Pro Tem Davis moved, seconded by Councilman Welch, to approve PS 89-4 as recommended by the Planning and Zoning Commission. Motion carried 4-2, Mayor Pro Tem Davis, Councilmen Welch, Metts and Sibbet voting for; Councilman ~coma and Councilwoman Spurlock voting against. *14. GN 89-105 PROJECT PARTNERS GRANT (LIBRARY) - RESOLUTION NO. 89-36 APPROVED *15. GN 89-106 CONTRACT FOR LABORATORY SERVICES WITH THE TRINITY RIVER AUTHORITY APPROVED 16. GN 89-107 PUBLIC HEARING ON 1989-90 BUDGET Mayor Brown opened the public hearing. Mr. C.A. Sanford presented an outline on the proposed 1989/90 Operating Budget. The following City employees appeared before the Council in support of the 1989/90 Budget as presented by the City Manager in Granbury: Mike Young, I ~ I I I I I I I Ie I I I I I I Ie I I September 11, 1989 Page 5 President North Richland Hills Police Association; Bobby Williams, employees representative; Kathy Renz, employees representative; Tom Riney, employees representative; Don LaPlante, President North Richland Hills Firefighters Association. Mr. Ralph Thrasher, 6704 Starnes, appeared before the Council. Mr. Thrasher asked for an increase in exemption for senior citizens. Councilman Welch advised Mr. Thrasher that he had made a recommendation to the City Council that the exemption be increased to $29,000. Mr. John Gibbs, 5728 Bernuda, appeared before the Council. Mr. Gibbs asked the Council not to decrease the employees benefits. Mr. Gibbs also asked the Council to implement the Impact Fees. Mr. Gibbs stated that he did not think the tax abatement to large businesses was fair. Mr. Gibbs stated the City should let the landowners and developers bear the cost. Officer Brian Crowson, North Richland Hills Police Department, appeared before the Council. Officer Crowson asked the Council not to decrease the employees benefits, that increasing the cost of the insurance would cause a hardship on a lot of the employees. Councilman Scoma made a presentation of his justification and reasons for wanting to reduce the budget. Councilman Scoma presented and explained his seven proposals for reducing the 1989/90 budget. Councilman Sibbet stated that ~ost of the concerns of the employees were insurance and salaries. Councilman Sibbet stated the employees did not seem to mind the $25 increase in dependent insurance and felt the line should be held pertaining to employees benefits. Councilman Metts thanked the employees for being concerned and for taking time to attend the meeting. Councilman Metts advised the Council would be considering all comments. Councilman Metts moved, seconded by Mayor Pro Tern Davis, to recess the public hearing until September 18, 1989. Motion carried 6-0. 17. GN 89-108 RESOLUTION ADOP!ING GUIDELINES AND CRITERIA FOR GRANTING TAX ABATEMENT IN REINVESTMENT ZONES CREATED IN THE CITY OF NORTH RICHLAND HILLS _ RESOLUTION NO. 89-37 APPROVED Mayor Pro Tern Davis moved, seconded by Councilman Metts, to approve Resolution No. 89-37. I ~ I I I I I I I ~ I I I I I I Ie I I September 11, 1989 Page 6 Councilman Scoma stated he had some concerns about the tax abatement. Councilman Scoma stated there were two things that needed to be looked at: 1) the recommendation before the Council to adopt guidelines and 2) the long range impact of abatement. Councilman Scoma stated he would like to present some additional information that would be beneficial. Mayor Brown advised that this resolution was just adopting the guidelines. Councilman Scoma stated he had specifics about the guidelines. Mayor Brown stated the specifics are controlled be State Law. Councilman Scoma stated he received a copy of the study just before the meeting and had not had a chance to look at it. Mayor Pro Tern Davis asked Councilman Scoma which item in the resolution he wanted to change. Councilman Scoma stated establishing guidelines pretty much established that the City proposed to endorse it. Mayor Brown advised that what needed to be done tonight was to vote on whether to adopt guidelines. Mayor Brown stated that for Councilman Scoma to give all of his reasons did not have anything to do with the matter before the Council. Councilman Scoma stated he felt the reasons did have specifics to the issue before the Council. Councilman Scoma stated that in answer to Mayor Pro Tern Davis' question it had to do with the fact that once guidelines were adopted the City had the guidelines for two years. Councilman Scoma stated he realized that individual applications that would be made were going to be considered on merits of the applicant. Councilman Scoma stated that he thought that thé guidelines that were being established should be discussed in the terms of need. Councilman Scoma stated there would be no need for establishing guidelines if tax abatement was not in the best interest of the City. Councilman Scoma stated he felt the Council would be making a mistake by not discussing the feasibility of tax abatement. Mayor Pro Tern Davis moved to call for the question. Motion carried 4-2, Mayor Pro Tern Davis, Councilmen Welch, Metts and Sibbet voting in favor; Councilman Scoma and Councilwoman Spurlock voting against. Mayor Pro Tem Davis moved, seconded by Councilman Metts, to approve the original motion. Motion carried 5-1, Mayor Pro Tern Davis, Councilmen Welch, Metts and Sibbet voting in favor; Councilman Scoma voting against. Councilman Scoma stated he felt the City had not been given adequate hearing on the liability of tax abatement. Councilman Scoma stated he thought the City should have had a public hearing as to whether or not tax 1- ~ I I I I I I I . I I I I I I Ie I I September 11, 1989 Page 7 abatement would be the desire of the citizens. Councilman Scoma stated he thought that the fact that the Council had chosen not to receive his input, in regard to the feasibility of the tax abatement, was a gross over-judgement on their part due to the importance of this to the future growth of the City. Councilwoman Spurlock stated she felt that Councilman Scoma had bee rUdely cut off and felt his privilege to express his feelings should have been heard. *18. GN 89-109 AMENDMENT TO ORDINANCE 381 ALLOWING CITY PARTICIPATION TO RECONSTRUCT EXISTING SEWER SERVICES _ ORDINANCE NO. 1627 APPROVED *19. PU 89-18 PURCHASE OF NURSERY STOCK FOR IRON HORSE GOLF COURSE APPROVED *20. PW 89-32 AWARD OF BID ON MISCELLANEOUS SLURRY SEAL OVERLAY IMPROVEMENTS FOR 1989 (POSTPONED AT THE AUGUST 28, 1989 MEETING) APPROVED *21. PW 89-34 APPROVAL OF CHANGE ORDER NO. 1 - MISCELLANEOUS SLURRY SEAL OVERLAY STREET IMPROVEMENTS, 1989 APPROVED *22. PW 89-35 MISCELLANEOUS DRAINAGE PROJECTS/ SHAUNA DRIVE AND BOCA RATON APPROVED 23. CITIZENS PRESENTATION 1) KAY HANCOCK 5120 NANCY LANE RE: ORANGEBERG PIPE Ms. Kay Hancock, 5120 Nancy Lane, appeared before the Council. Ms. Hancock stated that over the past ten years she had had some s~rious problems. Ms. Hancock stated the main problem was that Orangeberg Pipe had been used when her house was built. Ms. Hancock stated she had been told that it would be her responsibility to replace the sewer lines from her property to the main in the street and this would cause her a financial hardship. Ms. Hancock stated she had been told that several older homes in the City had the orangeberg and she felt they should be aware of that fact. Ms. Hancock asked the City to give her consideration on this problem. I ~ I I I I I I I ~ I I I I I I Ie I I September 11, 1989 Page 8 2) BOB GURNEY RICHLAND CONGREGATION OF JEHOVAH·S WITNESSES RE: SOLICITING ORDINANCE Mr. Bob Gurney appeared before the Council. Mr. Gurney introduced Mr. Tommy Dillard. Mr. Dillard appeared before the Council. Mr. Dillard advised the Council that they had received a letter from the elders of their church which explained their concerns. Councilman Scoma advised Mr. Dillard that the City had two ordinances that addressed his request. Councilman Scoma stated the points that had been raised in the letter was mute. Councilman Scoma asked Mr. Dillard if they offered anything for sale. Mr. Dillard stated they did ask for contributions. Councilman Scoma stated he understood that this had been discussed with the staff, that Mr. Dillard's only concern was with the word solicitation. Mr. Dillard stated the concern was not his, it was Mr. Gurney·s. 24. ADJOURNMENT Mayor Pro Tern Davis moved, seconded by Councilman Metts, to adjourn. Motion carried 5-0. Mayor ATTEST: City Secretary I Ie I I I I I I I Ie I I I I I I Ie I I MINUTES OF THE SPECIAL MEETING OF THE CITY COUNCIL OF THE CITY OF NORTH RICHLAND HILLS, TEXAS, HELD IN THE CITY HALL, 7301 NORTHEAST LOOP 820 - SEPTEMBER 18, 1989 - 7:30 P.M. 1 . CALL TO ORDER Mayor Brown called the Special Meeting to order September 18, 1989, at 7:30 p.m. 2. ROLL CALL Present: Tommy Brown Mayor Richard Davis Mayor Pro Tern Lyle E. Welch Councilman Mack Garvin Councilman Frank Metts, Jr. Councilman Byron Sibbet Councilman Linda Spurlock Councilwoman S ta ff: Rodger N. Line C.A. Sanford Jeanette Rewis Rex McEntire Greg Dickens Absent: Charles Scoma Dennis Horvath City Manager Assistant City Manager City Secretary Attorney City Engineer Councilman Óeputy City Manager 3. GN 89-107 REOPEN RECESSED PUBLIC HEARING ON THE 1989-90 BUDGET Mayor Brown reopened the public hearing on the 1989/90 Budget that was recessed on September 11, 1989. Mr. Charles Spradling, city employee, 7504 Dana, appeared before the Council. Mr. Spradling asked the Council to review the decision to implement merit increases effective January 1, 1990. He pointed out that this decision discriminated against those employees ~ith hire dates between October 1st and December 31st since merit increases were triggered by anniversary of employment dates. Mr. Line pointed out to the Council that he would ask the Staff to review this problem but that he saw no way to correct it and still stay within the budget unless the maximum merit raises were reduced from five percent to a lower figure. l- Ie I I I I I I I Ie I I I I I I Ie I I September 18, 1989 Page 2 Ms. Marion Staples, 5429 Topper, appeared before the Council. Ms. Staples spoke on behalf of the City employees in reference to merit increases and insurance rates. Ms. Staples advised that if taxes needed to be raised to keep the level of employees the City had she was in favor of raising taxes. Mr. Gene Ellis, 5409 Roberta, appeared before the Council. Mr. Ellis expressed appreciation to the Council for their time spent on preparation of the budget. Mr. Ellis advised that he had questions for Councilman Scoma and since he was absent he would wait until later. Mr. Dan Echols, 5016 Nevada, appeared before the Council. Mr. Echols appeared to discuss possible additional reduction to the tax rate. Mr. Echols analyzed the Revised Summary of Changes in the Proposed 1989-90 Budget dated August 28, 1989. Mr. Echols pointed out the advisability of getting the rate down by 2 1/2 cents to get below the roll-back level. Ms. Myrtis Byrd, Hialeah Ct., appeared before the Council. Ms. Byrd asked the Council to search and see if more cuts could be made in lieu of raising taxes. Ms. Byrd expressed she felt there could be a cut back in the Recreation Department on the hiring of new employees. Councilman Garvin advised that the Council had cut and cut the budget and did not know where it could be cut any more. Councilwoman Spurlock stated the recreation had increased in participants and there was a need for additional employees. Councilman Sibbet stated he felt the Recreation Center was a place for young people to be, not on the streets. Mr. Jim Cato, 6733 Parkwood, appeared before the Council. Mr. Cato asked if there was a detailed organizational chart available. Mr. line advised there was an organizational chart but it did not go into as much detail as Mr. Cato wanted. Mr. Cato asked if that information was available. Mr. Line advised Mr. Cato that he would be given a copy of the chart. Mr. Paul Truley, 5901 Susan Lee, appeared before the Council. Mr. Truley questioned the number of City vehicles the City owned. Councilman Welch advised that it might look as if the City owned a number of cars but felt that they were all necessary. l- Ie I I I I I I I Ie I I I I I I Ie I I September 18, 1989 Page 3 Mayor Pro Tem Davis advised that detailed information on the use of City vehicles was looked at eve~1 year. Councilman Sibbet stated one of the problems with City vehicles was exposure, because they were stored at City Hall. There being no one else wishing to speak Mayor Rrown closed the Public Hearing. 4. OPEN PUBLIC HEARING ON PROPOSED TAX RATE Mayor Brown opened the Public Hearing on the proposed $0.50493 (50.493 cents) tax rate. Mr. Charles Spradling, 7504 Dana Lane, appeared before the Council. Mr. Spradling asked questions concerning evaluation figures from the Tarrant Appraisal District. Mr. Line explained that some properties had an increase in value, while others had a decrease; that the overall figure was slightly reduced from the 1988 TAD figures. Mayor Brown called for anyone else wishing to, speak. There being no one else wishing to speak Mayor Brown closed the Public Hearing. Mayor Brown advised that the Council would vote on the budget and tax rate at the September 25, 1989 meeting. 5. ADJOURNMENT Councilman Metts moved, seconded by Mayor Pro Tem Davis, to adjourn the meeting. Motion carried 6-0. Maynr ATTEST: City Secretary I I- I ~~& ~~ City of ~orth ~chland -uills I I I I I WHEREAS, CMeF.f.1..te, a 24-hoUJr. emVlgenc.y helic.opt.eJr. ambulanc.e .6 ydem that .6 VlVe.ð the 1le.ðM.ent.ð 0-6 N oJLth C entltal T exa.ð .in a 110-c.ounty Mea, will have c.omple:ted. t.en YeaJLð 0-6 .6eJr.v.ic.e on Oc.tobeJr. 1, 1989¡ and I I" WHEREAS, CMeF.f.1..te, an ai.JL emeJr.genc.y .inte.nð.ive c.alte unit de.ð.igned. to bJÚng patient.ð lleqLLÚÚng immetLúLte emeJr.genc.y tJLe.a:tment at. a mad OIL me.cüc.at c.enteJr. -6Jr.om le.ð.6 po pui.a:ted. alL.e.að, became iruUY opeJULtional on Oc.tobeJr. 1, 1979 ¡ and WHEREAS, the PllogJUlm, btU ed. at. Bayloll UrLiveJLði.;ty Me.cüc.at Cente1l 0-6 V~, HaJrJr.Å.,ð Me:thocü.ðt. FoJtt WoJLth, Me:thocü.ðt. Me.cüc.at CenteJr. 01,. V~ and PIle.ðbyt.eJÚan HO.6plia! 01,. V~, ha4 VtanðpoJtted. mOlle .than 10,000 patient.ð .in Ltð t.en Ye.aJLð ot. opeJULtion¡ and I WHEREAS, wäh Ltð .6peed. and Ltð .6pec.lally tJuún.ed. CJtW 01,. pilou, t1WLð e.ð and PaJUl11ledi..c.ð, CalL.eF.f.1..te min.imiz U t.ohll VtanðpoJtt time t.OIl CJLäi..c.ally ill pati..en:tð which IlUultð .in .inCJte.aðed pati..ent .6Wlv.ival¡ and WHEREAS, the heliC.OPt.Vl Á.,,6 enJLoute to the .6c.ene. wi.:thin -ð-ive. minute.ð a.&teJr. Ilec.eiv.ing the c.af.l, .6tabiUzu the patient on. the .6c.ene and Vtanðpo1Lt6 the pailent to the ho.ðpäa.l wi.:thin minutu ¡ and I I I WHEREAS, CMeF.f.1..te .ið opvr.ated. by NoJLth Centltal Texað SVlv.ic.e, Inc.., a no~o~ ollganizailon¡ and WHEREAS, .in Ilec.ogn.i..ti.on 01,. the t.enth anrLiveJLðaJty 01,. .6Vlv.ic.e 01,. CaJLeF.f.1..te to the metJr.oplex. and t.o NoJLth Centlull Texað. I NOW, THEREFORE, I, T orrrny Bllown, Mayoll 01,. the c.ity 01,. NoJtth 1U.c.ht.a.nd Hiii..ð, do hVleby Plloci.ahn Oc.tobeJr. 1, 1989 tU "CaJleF.f.1..te Vay" .in the Ci;ty 01,. NoJtth 1U.c.ht.a.nd Hiii..ð and Wlge all c.itlzenð to jo.in .in thið day 01,. Ilec.ogn.i..ti.on. IN WITNESS WHEREOF, I have heJLe.unto .6et. my hand. and. c.au.6ed. the .ðed 0-6 the Ci;ty 0-6 NoJLth R.ic.ht.a.nd. Hiii..ð to be ~ed. thið 25th day 01,. SeptembVl, 1989. I Ie I I Tommy Bllown - Mayoll - . r_. " _._ . '.,; ,r,/_ :~"I_ -.,_ :.('_'. :~'_ <;~. " ~ .--.... ..-::;",.', -··t~";' ~. -- t :'~ -.' ~ ". . ,. ." I I I I I I I I I I ~il ~I jil r:'1 '.......................'..........·..·.···..··.1 ~..' !' ') 1JsI _epartment: CITY OF NORTH RICHLAND HILLS Economic Development/Planning 9/25/89 Council Meeting Date: Public Hearing for consideration of an amendment PZ 89-11 Agenda Number: to Zoning Ordinance DI0BO, Section 24.6 (Temporary Sales) allowing schools and churches to have rummage sales. SUbject: Ordinance No. 1628 In early Summer, Senior Management directed staff to draft an amendment to our Zoning Ordinance which would allow schools and churches to conduct rummage sales. This was done and the Planning and Zoning Commission held a Public Hearing on August 24, 1989. There was no one present to speak for or against the amendment. P & Z approved the amendment to Ordinance #1080 and the'ir recommendation is attached for your review and consideration. RECOMMENDATION: 4IÞ1t is recommended that the City Council hold the required Public Hearing and act on the recommendation of the Planning and Zoning Commission. Finance Review Acct. Number Sufficient Funds Available "\'. ¡~I_ s~~~~~ ~~~~~~:.~ , Operating Budget 01 Other , ~W. I , c' Kn/~ City Manager , Finance Director ~ ~ Department Head Signature CITY COUNCIL ACTION ITEM Page 1 of I Ie I I I I I I I Ie I I I I I I Ie I I Page 2 P & Z Minutes August 24, 1989 3. PZ 89-11 PZ 89-11 APPROVED ADJOURNMENT Consideration of an amendment to Zoning Ordinance #1080, Section 24.6 (Temporary Sales) to allow rummage sales in any zoning classification. Chairman Schwinger opened the Public Hearing and called for those wishing to speak in favor of this request to please come forward. There being no one wishing to speak, the Chairman called for those wishing to speak in opposition to the request to please come forward. There being no one wishing to speak, the Chairman closed the Public Hearing. Ms. Marin made the motion to approve PZ 89-11 with the wording changed in the first paragraph as suggested in the memo of August 22, 1989. This motion was seconded by Mr. Wood and the motion carried 5-0. The meeting adjourned at 7:40 P.M. Chairman Planning & Zoning Commission Secretary Planning & Zoning Commission I Ie I I I I I I I Ie I I I I I I Ie I I ORDINANCE NO. 1628 Whereas, the Planning and Zoning Commission of the City has forwarded a recommendation to the City Council for amendment of Ordinance #1080, the Comprehensive Zoning Ordinance, by adding a subsection to Section XXIV to be designated as 24.6.(d) which is set out below. Now, therefore, Be It Ordained by the City Council of the City of North Richland Hills, Texas, that: I. The following subsection is hereby added to Ordinance 01080: "24.6(d) Rummage sales by schools and churches shall be allowed only on the property on which those schools and churches requesting a rummage sale permit are located. Such rummage sales shall be allowed providing that the following criteria are met: 1. Application is made to the Director of Community Development. The Application shall include: a) Name and address of Applicant. b) Exact location of the event. c) Expected attendance. d) Estimated number of automobiles and the proposed method of providing parking. e) Location, size and type of construction of any temporary signs. f) Exact date of commencement and termination of the event. g) Brief description of the event. h) Signed certification by an officer of the sponsoring organization and record owner of the land that the information provided in the application is true and correct. 2. Sale shall not be commenced until the application is approved by the Director of Community Development. 3. The interval between sales shall be at least six months. No sale period shall extend for more than four days, which must be consecutive." II. The balance of the City of North Richland Hills Zoning Ordinance, as amended, be and is hereby ratified and approved. I Ie I I I I I I I Ie I I I I I I Ie I I Page 2 III. Section 24.6(d), set out above, shall be in full force and effect from and after its date of passage and approval. APPROVED BY THE PLANNING AND ZONING CO~œrrSSION THIS 24th DAY OF AUGUST, 1989. I' ~~ Secretary Planning & Zoning Commission PASSED AND APPROVED BY THE CITY COUNCIL THIS 1989. DAY OF Mayor ATTEST: City Secretary City Attorney ~~W~~;,~__;~: ~::. ~ ~ -).-v..~~~ \- ~~l"/~~ ~~! #~ - . /~~~~-.~~··,~t!-~~3~'1~:..;~~:~;'ßt~'fJJ[/~~:~:~~1~~~t'';:,: f~~~~~)l~1~~:.- ~~;ct'-r~_:t"r ~~ ~ [ -.' . ~ ... _ 'X " . .C:, ... . -.' - .... , <~~";:;~F,.·. .~i~~';;"".'''f';:i''')';'f'·':i'<:''';'''''",,«'~~'t':'?'~~"~"'i:p,;þ~"é;"":"''''~''"!'ry,<t'!W'.;;'i?N.J1:"'",,",,Ù " !C'f'1I"'''''''~''~''',¡''~'''!'''''~''''''''' '/"""'''''',"''''''''_«""",''',.,.,,,,,,,,,,,,,.. ,<eN""""",,> .'''',~, .."." CITY OF NORTH RICHLAND HILLS _epartment: COMMUNITY DEVELOPMENT - Council Meeting Date: 9-25-89 Subject: AMENDMENT TO ORDINANCE NO. 1560 CHIMNEY INSPECTIONS - ORDINANCE NO. 1629 Agenda Number: GN 89-110 In July, Council requested the Community Development staff prepare an oràinance requiring home builders to obtain chimney inspections by licensed chimney sweeps on new homes. The attached ordinance was prepared by the City Attorney and staff for your review. e Recommenàation: It is recommended the City Council approve Ordinance No. 1629 requiring chimney inspections. Finance Review Source of Funds: Acct. Number e Bonds (GO/Rev.) Sufficient Funds Available Operati~,~E?udget _, Othy',;"'\ ~.; I: / þ.i ~)~.~ . -. \ <: /t---- r~ K fì~/:t.~ Departm nt Head Signa",ure ''éity Manager ( ) CITY COUNCIL ACTION ITEM , Fmance DIrector Pa e 1 of I Ie I I I I I I I Ie I I I I I I Ie I I ORDINANCE NO. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF NORTH RICHLAND HILLS, TEXAS, that: 1 . Ordinance No. 1560 be and is hereby amended by adding Section ll-A which shall read as follows: " Section II-A: All installations of masonry chimneys shall comply with the terms of the National Fire Prevention Code (NFPA Standard 211) and the crown installation of each chimney shall comply with Technical Note 19B (1980) of the Brick Institute of America, a copy of which is on file with the City Secretary. It shall be the responsibility of the person to whom the building permit is issued to procure an inspection of each chimney by a member of the National Chimney Sweep Guild of America who is registered with this City. The building inspector's office will keep a list of such registered chimney sweeps which will be made available to the public upon request. Before calling for final inspection of any building with a masonry fireplace or masonry chimney, the person holding the building permit must present a certificate of compliance from such registered inspector who is a member of the National Chimney Sweep Guild of America. No final inspection will be made without such written certificate. It shall be the responsibility of the person holding the building permit to pay for such inspection and certifiGate". 2 . This ordinance shall be in full force and effect from date of passage and approval. PASSED and APPROVED this day of , 1989. APPROVED: ATTEST: Tommy Brown, Mayor Jeanette Rewis, City Secretary I CITY OF NORTH RICHLAND HILLS I e>epartment: Subject: Economic Development/Planning Renaming Municipal Drive to Dick Fisher Drive - Ordinance No. 1632, and Establishing Name of Bear Creek Boulevard - Ordinance No. 1633 Council Meeting Date: 9/25/89 Agenda Number: GN 89-111 I I I I I I I Ie I I Councilmen Sibbet and Garvin have been reviewing recommendations to rename a street in honor of former Mayor Pro Tern Dick Fisher and to establish a name for the presently unnamed thoroughfare being constructed by Commissioner Bob Hampton. It was their recommendation that Municipal Drive be changed to Dick Fisher Drive. It was also recommended that the unnamed thoroughfare be designated Bear Creek Boulevard. This name fits the area and could possibly be utilized by all affected cities through which it may eventually exist. Recommendation: The staff has reviewed the following and it is recommended that the City Council approve the names of the streets and ordinances as outlined below: Ordinance No. 1632 - Municipal Drive to be changed to Dick Fisher Drive Ordinance No. 1633 - The unnamed thoroughfare to be designated Little Bear Boulevard I I I I I ¡.~.·.'I ~." .....................:......'..··.···.···1 ...~ ~. '- ~:~ Source of Funds: Bonds (GO/Rev.) Operating Budget Other Finance Review Acct. Number Sufficient Funds Available - , - Kit {~:/;~~ City Manager t Finance Director Department Head Signature CITY COUNCIL ACTION ITEM Page 1 of 1 I Ie I I I I I I I Ie I I I I I I Ie I I ORDINANCE NO. 1632 BE IT ORDAINED by the City Council of the City of North Richland Hills, Texas, that: 1. That certain public street in the City of North Richland Hills which has heretofore been known as Municipal Drive is hereby renamed. 2. Such public street shall hereafter be known as Dick Fisher Drive. PASSED AND APPROVED this 25th day of September, 1989. APPROVED: Mayor ATTEST: City Secretary APPROVED AS TO FORM AND LEGALITY: Attorney for the City I Ie I I I I I I I Ie I I I I I I Ie I I ORDINANCE NO. 1633 BE IT ORDAINED by the City Council of the City of North Richland Hills, Texas, that: 1. That certain public thoroughfare which is under construction in the northern portion of the City lying south of Keller-Shady Grove Road and running east from Davis Boulevard to Precinct Line Road and west from Davis Boulevard to the Keller City limits is hereby given the name of Little Bear Boulevard. PASSED AND APPROVED this 25th day of September, 1989. APPROVED: Mayor ATTEST: City Secretary APPROVED AS TO FORM AND LEGALITY: Attorney for the City \.' ,~'"Y'r:'F''' ';',\.;'¡';:V,··..,,""'·.>:t'{"·t',l"i'C}'." .", '. , ;~ .'.,." ."'/.."...:'....,.', 'Pi", I CITY OF NORTH RICHLAND HILLS I Department: Management Information Systems ~ Council Meeting Date:9/25/89 Agenda Number: GN 89-112 I SUbject: Software Development for Fire Department I Presently, the Fire Department has the hardware capabilities to process a fully automated fire reporting information system. However, software has never been developed to comply with federal or state reporting requirements. All reporting requirements are being processed manually at this time. I Developing software for the fire reporting information system will allow Fire Administration to comply with all Federal and state reporting requirements in area's such as: hazardous materials, emergency preparedness and incident reporting. In addition, the systems will provide a perpetual inventory control program for all equipment and extensive personnel training files. The software will be written in System 36 as well as AS/400 code which will allow an easy conversion to the AS/400 in the future. I I I Fire Department personnel have not been able to locate an existing software package which meets their particular needs and operates on a System 36. Presently, most software available for fire applications is written for personal computer processing and has limited and highly specific usage potential. I After a national search was conducted only three vendor sources were found which were prepared to write software for a fire reporting information system. Two of the vendors, DLH and Chiefs, are not local vendors and could not provide support at an acceptable level. I ;'1 ~)" . .,:-~ ~'" In addition, their costs would have been in access of $25,000 and their system could ¡ not have integrated with our existing fire dispatch, EMS or financial modules. , 'I The recommended vendor, United Systems Technology, the parent company of Municipal software, has proposed to write a customized fire reporting information system,written in 36 and AS/400 code, at a cost of $12,100. ¡~:I USTI fire system will integrate with our fire. dispatch, EMS and financial modules. Also USTI has offered one full year of free maintenance and is a local vendor which assures North Richland Hills an acceptable service level. ~'!I Funding: The financing plan includes $4030 in the current fiscal year and $8070 during fiscal year 1989-90. ¡'I "I I 1'1 \, ~I Recommendation: The staff recommends approval of the contract with USTI for development of a customized fire reporting information system in the amount of $12,100. Source of Funds: Bonds (GO/Rev.) Operating Budget Other ~ Finance Review Acct. Number 01-90-01-6500 Sufficient,Funds Available ead Signature CITY COUNCIL ACTION ITEM Page 1 of 1 I Ie I I I I I I I Ie I I I I I I Ie I I APPLICATION SOFIWARE CONTRACT BETWEEN NORTH RICHLAND HILLS, TEXAS AND UNITED SYSTEMS TECHNOLOGY, INC. d/b/a Municipal Software and Public Safety Technology THIS CONTRACT, made and entered into this 20th Day of July, 1989, by and between North Richland Hills, Texas, hereinafter called Licensee, and United Systems Technology, Inc., at 3021 Gateway Drive, Suite 290, Irving, in the State of Texas, hereinafter called Licensor. WITNESSETH With consideration of the mutual covenant and conditions herein-after contained, Licensee does hereby accept the conditions which follow. 1. All licensed application software system(s) are the licensed copyright materials of Licensor and shall not be duplicated, used or disclosed in whole or in part for any purpose other than operation of the computer system of Licensee or unless written approval is obtained from Licensor. The application software licensed herein is designed for one or more of the following hardware systems (the specific hardware system for each purchased application software system is listed in Appendix A): ffiM Application System/400 (AS/400) IBM System/36 (S/36) IBM or 100o/óIBM-compatible Microcomputers (Micro) Although Licensor may adapt the application software to operate on other hardware systems, the Licensee may not use the licensed application software system(s) on any hardware system not specifically authorized in Appendix A. 2. Ownership of the licensed application software system(s) will be retained by Licensor. Licensee hereby agrees not to resell, trade or otherwise make the licensed application software system(s) available to any other person(s) or enterprise without the express written consent of the Licensor. 3. The licensed application software system(s) and restrictions, if any, is(are) itemized in Appendix A. 4. For and in consideration of the use of the licensed application software system(s) and other services t~o be rendered by Licensor, Licensee shall pay, and Licensor shall receive, compensation as follows: PAGE 10F3 I Ie I I I I I I I Ie I I I I I I Ie I I A. Application software license fees shall be due and payable upon execution of this CONTRACT as follows: Due upon Contract execution Due upon Coding commencement Due 30 days after Installation (1/3) (1/3) (1/3) $ 4,030. $ 4,030. $ 4,040. B. This CONTRACT shall be effective upon execution and shall remain in force for a term of ninety-nine (99) years. C. Reasonable and customary out of pocket expenses will be billed at actual cost, as they are incurred. 5. Licensor certifies that the licensed application software system(s) provided does( do) not infringe on others' patents, rights, etc. 6. Licensee address and contact is: NORTH RICHLAND HILLS, TEXAS CONTACT -.5írNE rR-L'I ADDRESS 73ó/ lJ¿ "1JP{)/J ð~ CITY, STATE, ZIP II ßd/Pnd 1Ýàt1;i~-. 5P/7L//2- PHONE CUTED FOR NORTH RICHLAND HI~ TEXAS 7-2lS-07 DATE: l111LE: Assistant City Manager A TrEST: DATE: THIS CONTRACT EXECUTED FOR UNITED SYSTEMS TECHNOLOGY, INC. BY: DATE: l111LE: Vice President ATrEST: DATE: PAGE 2 OF3 I Ie I I I I I I I Ie I I I I I I Ie I I APPLICATION SOFIWARE CONTRACT BETWEEN NORTH RICHLAND HILLS, TEXAS AND UNITED SYSTEMS TECHNOLOGY, INC. d/b/a Municipal Software and Public Safety Technology APPENDIX A Notes Hardware Licensed Application Software System(s) (1) Fire Information Reporting System -Incident Reporting -Personnel - Inventory -48 Hrs. Installation & Training TOTAL 1 Year Software Maintenance Notes: (1) System/36 License Fee $ 4,500. $ 2,200. $ 2,700. $ 2.700. $ 12,100. No Charge THIS~~FOR NORTH RICHLAND HILLS, TEXAS BY: ' DAW: 1111LE: Assistant City Manager ~, A ITEST: DATE: THIS CONlRACf EXECUTED FOR UNITED SYSTEMS TECHNOLOGY, INC. BY: DATE: TIlLE: Vice President AITEST: DATE: PAGE 3 OF 3 I Ie I I I I I I I Ie I I I I I I Ie I I APPLICATION SOFIWARE MAINTENANCE AGREEMENT BElWEEN NORTH RICHLAND HILLS, TEXAS AND UNITED SYSTEMS TECHNOLOGY, INC. d/b/a Municipal Software and Public Safety Technology THIS AGREEMENT, made and entered into this 13th Day of July, 1989, by and between the North RicWand Hills, Texas, hereinafter called licensee, and United Systems Technology, Inc., with offices at 3021 Gateway Drive, Irving, Texas, 75063, hereinafter called Licensor. WITNESSETH WHEREAS, Licensee has previously purchased a software license fee for certain computer application software for its user system from Licensor; and WHEREAS, licensee desires to utilize and to protect all proprietary rights of said application software; and . WHEREAS, licensee desires to employ licensor for providing sustaining maintenance and application software upgrades; and WHEREAS, licensor has proposed acceptable terms for providing maintenance and upgrading under an on-going c~ontract basis. NOW, THEREFORE, for and in consideration of the mutual covenants and conditions hereinafter contained, Licensee does hereby employ licensor to provide sustaining maintenance and application software upgrade service and licensor does hereby accept employment in accordance with the covenants, conditions, definitions and terms which follow, together with any appendices that are mutually approved, attached hereto and made a part hereof. ARTICLE I - DEFINITIONS AND LOCATIONS Section 1 - Definitions A "Application Software" shall mean the source code and object code supplied by licensor for the operation. of all licensed application software system( s) as outlined in the Application Software Contract. B. "User System or Hardware" shall mean the equipment as outlined in the Application Software Contract. PAGE 10F6 I Ie I I I I I I I Ie I I I I I I Ie I I c. "Application Software Upgrades" shall mean improvements/upgrades to the licensed application software which improves the operating performance of the application software butdoes not change the basic function of the licensed software. Licensor will provide complete updates of application software versions without charge, but reserves the ri~ht to invoice for personnel time and/or travel expended in the implementation of the proposed upgrades. D. "Base System" shall mean the current version of the licensed application software system(s) as would normally be installed by Licensor. E. "Application Support/Error Recovery" shall mean the support listed below for all "applicatIons" installed by Licensor. 1. Provide periodic software updates distributed on diskette with instructions for use and installation. Updates are distributed with either an optional or required installation status. Required updates must be installed to stay within the base system. 2. Successful implementation of periodic updates is the user's responsibility for programs not originally installed by either Licensor or its agents. 3. Error Recovery (fix it support) will address all problems encountered in running application software provided by Licensor. Assistance will be provided by phone, diskettes being mailed, or an on-site visit by Licensor personnel if required. Licensor reserves the right to bill for out of pocket expenses actually incurred. F. "Application Software Use" shall mean that Licensee shall have the right to use the licensed application software system(s) on their User System only, without prior written approval of Licensor. Section 2 - Locations A. The user system hardware utilizing the licensed application software system(s) and application software upgrades is located at North Richland Hills, Texas. B. All notices and communications under this agreement that are to be mailed or delivered to Licensor shall be sent to the address of Licensor as follows, unless and until Licensee is otherwise notified: United Systems Technology, Inc. 3021 Gateway Drive, Suite 290 Irving, Texas 75063 C. All notices and communicatiòns under the agreement that are to be mailed or delivered to Licensee shall be sent to the address and offices of Licensee as follows: Kane Kellv. Director of Manaiement Information Systems City of North Richland Hills~ P. O. Box 18609 North Richland Hills, TX 76180 PAGE20F6 I Ie I I I I I I I Ie I I I I I I Ie I I ARTICLE II - SCOPE OF SERVICES Section 1 - General Requirements Licensor shall provide application support/error recovery for the licensed application software system(s) and application software upgrades in accordance with the following terms: A. The agreement between the parties shall initially be for a period of one year from the effective date provided in Article V and automatically renew on each anniversary thereafter. Either party may terminate the agreement by giving written notice to the other party not less than thirty (30) days prior to the annual renewal anniversary date. Notice of termination, except for cause, shall not amend the duties, rights or liabilities that occur until date of termination. B. Licensor will maintain the licensed aprlication software system(s) during the term of this agreement. Licensor shal make available to Licensee all updated and revised versions to the base system which are provided by Licensor. C. Licensor will correct any error and, if such is found to be caused by modification to the application software by any party other than Licensor, or its agent, Licensor reserves the right to invoice the Licensee for such service on a time and materials basis at current Licensor hourly rates plus actual out of pocket expenses. Licensor shall not be responsible for consequential damages by program malfunctions. D. E. Licensor shall not próvide expressed or implied warranty of updates to application software unless the updates are modified and installed by Licensor or its agent. ARTICLE 111- PAYMENT FOR SERVICES Section 1 - Payment for Basic Services The Licensee agrees to pay all applicable fees for software updates and maintenance service charges per pricing described in Appendix A The fee shall be reviewed each year prior to the anniversary date of this agreement. Written notice of any needed changes shall be provided to the other party not less than sixty days (60) prior to the effective date for reVIsed charges. All mutually agreed changes in fees charged shall be incorporated by approved appendix of this âgreement. Payment shall be made within fifteen days (15) days of receIving said invoice. Section 2 - Payment for Additional Services PAGE 3 OF 6 I Ie I I I I I I I Ie I I I I I I Ie I I Any services approved in addition to the agreed provisions of Article II of this agreement shall be invoiced on a time and material basIs at the current Licensor billing rate plus any actual out of pocket expenses. All invoices for additional services shall requIre approval by Licensee, or hislher agent and payment of invoices for additional services shall be made within fifteen (15) days of said approval. Additional services typically address the needs of the Licensee for consulting and custom programming. Hourly fees range from $55.00 to $100.00 per hour. Section 3 - Software Maintenance Pricin2 See Appendix A ARTICLE IV - MISCELLANEOUS PROVISIONS Section 1 - Compliance of all Laws The Licensee and Licensor agree that they will perform their obligations hereunder in accordance with applicable laws, rules, and regulations now and hereafter in effect. If any terms or provisions of this agreement shall be found to be illegal or unenforceable then, the remainder whereupon so amended shall remain in force and effect. Section 2 - Special Provisions A. Cessation of Business Rights: If Licensor or it's successor company, shall for any reason, cease to conduct business, this agreement shall automatically terminate, and no further charges made or services performed. Any fees unearned by Licensor will be returned to the Purhcaser. B. Notices: All notices under this agreement shall be in writing and shall be deemed duly given; upon delivery to a party hereto at the address hereinabove set fortn or such other address as specified by Licensee. C. Authority: Licensee and Licensor have full power and authority to enter into and perform this agreement, and the person signing this agreement on behalf of each has been propoerly authorized and empowered to enter into this agreement. D. Assignment: Licensor shall not assign or convey this agreement to any other party without prior written consent by Licensee. Any assi~nment or attempted assIgnment without prior written approval of LIcensee shall render this agreement null andvoid. Any fees unearned by Licensor will be returned to the Licensee. ARTICLE V - SIÇJNIFICANTDATES Section 1 - Provisions of Effective Date A. This agreement will become effective ontks 90 days after completed sof,tware installation. PAGE 4 OF6 I' Ie I I I I I I I Ie I I I I I I Ie I I Section 2 - Anniversary Date A. The anniversary date shall be the B. At the anniversary date the agreement is automatically renewed unless notified by the other party within thirty (30) days prior to the anniversary date. C. This agreement shall automatically renew at full annual rates. IN WITNESS WHEREOF, the Licensee and Licensor have executed this agreement on the date first executed. THIS ttMf BY: UTED FOR NORTH RICHLAND HILLS, TEXAS DATE: l111LE: Assistant City Manager A TIEST: DATE: THIS AGREEMENT EXECUTED BY UNITED SYSTEMS TECHNOLOGY, INC. BY: DATE: l111LE: Vice President A TIEST: DATE: PAGE 5 OF 6 I Ie II I I I I I I Ie I I I I I I Ie I I APPENDIX A BEIWEEN NORTH RICHLAND HILLS, TEXAS AND UNITED SYSTEMS TECHNOLOGY, INC. d/b/a Municipal Software and Public Safety Technology The pricing below includes unlimited telephone support, on-line support when required, program temporary fixes (PTFs) and program upgrades on all licensed application software system(s). DESCRIPTION ANNUAL FEE Fire Reporting System - Incident Reporting -Personnel - Inventory No Charge Software Maintenance to begin 90 days after delivery of software. THIS ~~CUTED FOR NORTH RICHLAND HILLS, TEXAS BY: DATE: l111LE: Assistant City Manaier ATIEST: DATE: THIS AGREEMENT EXECUTED FOR UNITED SYSTEMS TECHNOLOGY, INC. BY: DATE: l111LE: Vice President ATIEST: DATE: PAGE60F6 I I I I I I I I I I I I I I I I I I I CITY OF NORTH RICHLAND HILLS Department: Budget Council Meeting Date: 9/25/89 Subject:Adoption of Fiscal Year 1989-90 Budget - Ordinance No. 1631 Agenda Number: GN 89-113 The attached Ordinance No. 1631 incorporates the City Manager's Proposed Fiscal Year 1989-90 Budget as presented at the August 18-20th Workshop and adjustments as discussed at subsequent work sessions and City Council meetings. Following is a summary of the General Fund Proposed Budget with an explanation of changes: Budget as presented at Granbury Tax Rate $0.51409/$100 $12,806,799 Net effect of changes tentatively approved by Council at Budget Workshop as noted in IR 89-68 dated 8-28-89 (See copy attached) (129,229) Tax Rate $0.50493/$100 Adjustments since August 18-20th Budget Workshop: 1) Additional property tax revenues resulting from the increased net taxable value as provided by Tarrant Appraisal District. The net taxable value which was provided by TAD is outlined below: As of 7-25-89 As of 9-1-89 -------------- -------------- Net Taxable Value Disputed Property' $1,413,797~192 40,970,712 $1,454,004,905 8,166,703 -------------- -------------- $1,454,767,904 $1,462,171,608 -------------- -------------- ---------~---- -------------- As discussed in GN 89-114, historically the taxable value of properties under dispute as determined by the Appraisal Review Board will be less than the amount provided by TAD ($8,166,703). The revenue projection included in the attached ordinance assumes that the projected value of disputed properties will be reduced by $3,000,000. The result is an increase in property tax revenues of $21,569. 2) As discussed in IR 89-74 dated 9-18-89, the savings associated with the change in the Insurance deductible from $100 per member/$300 family to $200 per member/$300 family aggregate should be $24,800 rather than $13,707 as previously noted in IR 89-68. The additional savings amounts to $11,093. Finance Review Source of Funds: Bonds (GO/Rev.) Operating Budget Rt?er "- : j H') ;'---.1,'\ ~' r ~...--c,<.~- ~ v \/' v·\/\. /V'\....~ Department Head Si Acct. Number Sufficient Funds Available ~~ · ,t . Finance Director CITY COUNCIL ACTION ITEM Page 1 of 2 I I I I I I I I I I I I I I I I I I I GN 89-113 Page 2 of 2 The total of the two items above results in a reduction in the amount of revenues required from property taxes by $32,662. Modification requested by City Council which requires funding: 1) Councilman Welch proposed an increase in the "Over 65" exemption from $25,000 to $29,000. As noted in IR 89-73 dated September 11, 1989, based on the average taxable value of $30,016, granting an additional $4,000 exemption will result in the same amount of taxes due as in the previous fiscal year. The cost of this exemption is approximately $30,000. The adjustments noted above are sufficient to fund the amount required for Councilman Welch's proposal. The excess ($2,662) will be added to the City Council's Reserv~ for Contingency. Modifications requested by City Council which do not require, additional funding: Included in the report presented at the September 1, 1989 Workshop was a list of items which were suggested for inclusion in the proposed budget. These items are included in the proposed budget. Additional funding is not required. The items include: Councilman Davis - Cost-of Living Adjustment for Retirees Increasing salary ranges 3.4% without giving COLA $1,600 2,916 Councilman Metts - Delaying the $25 increa&e in the cost of dependent coverage untïl 1-1-90 15,075 ------- $19,591 ---~--- ------- Unfinanced Needs: There are three remaining high priority items which are not funded in the proposed budget. These are: 1. Updating of the Master Plan, as proposed by Councilwoman Spurlock ($18,960). 2. Additional emphasis on Economic Development, as proposed by Mayor Brown ($40,000). 3. An additional Tanker Truck for the Fire Department (31,500). It is proposed that funding of these projects be aggressively sought during 1989-90 if additional revenue should become available. Recommendation: It is recommended that City Council approve Ordinance No. 1631 adopting the Fiscal Year 1989-90 Budget. CITY OF NORTH RICHLAND HILLS I I I I I I I I I I I I I I I I I I I INFORMAL REPORT TO MAYOR AND CITY COUNCIL No. IR 89-68 * ~~ V Date: Subject: August 28, 1989 Revised Summary of Changes in Proposed 1989-90 Budget Detailed below is the exact calculation of savings and additional costs related to the changes noted in IR 89-66 which was based on preliminary estimates. The exact tax rate including the changes is calculated as $0.50493 rather than $0.5050 as listed in IR 89-66 and agenda item GN 89-104 (Item 21). General Fund: Increases in revenues: 1. Projected revenue from arrest and warrant fees which were increased by the state 2. Proposed increase in vehicle impoundment fees Increases in expenditures: 1. Parks - Two Maintenance Workers 2. Recreation Leader 3. Cost of election for Court of Record 4. Addition of six Firefighters Decrease 1. 2. 3 . 4. 5. in expenditures: City Council travel & training other traveî & training Economic Development Delay of merit increases Increase in health insurance deductible Increase in the amount paid by employees for health insurance dependent coverage Reduction .in overtime expenditures Deletion of master plan update 6. 7. 8. Net reduction $ 54,385 29.884 84.269 37,568 20,177 2,200 146.606 206.551 53,501 2,525 40,000 40,459 13,707 60,300 22,059 18.960 251.511 $129,229 -------- ---.----- It is recommended that th~ tax rate of $0.50493 be substituted for the $O.505·~igure noted in GN 89-104. _ ISSUED BY THE CITY MANAGER NORTH RICHLAND HILLS, TEXAS I I I I II I I I I I I I I I I I I I I As was noted in IR 89-66, the following Major Improvements were discussed with funding as below: General Fund: starnes Rd. Fire station #1 Tanker Truck Fossil Creek &·Richfield Parks Lighting $102,000 31,500 15,,500 149,000 -------- .--------- Management Services Fund: Fossil Creek & Richfield Parks Lighting 59,500 utility Fund: Decrease 1. 2. 3. in expenditures: Delay of merit increases Increase in health insurance deductible Increase in the amount paid by employees for health insurance dependent coverage Deletion of technician associated with the Geographical Information System 4. Manaaement Services Fund: Decrease 1. 2. 3 . in expenditures: Delay of merit increases Increase in health insurance deductible Increase in the amount paid by employees for health insurance dependent coverage utili tv Cacital Proiects Fund: Decrease in expenditures: 1. Delay of merit increases 2. Deletion of Geographical Information System CITY OF NORTH RICHLAND HILLS -------- -------- 13,283 2,350 7,200 34.543 57,376 ------...-.- -------- 116 880 3.000 3,996 -------- -------- 1,575 176.000 177,575 -------- -------- I I I I I I I I I I I I I I I I I I I General CaDital proiects Fund: Decrease in expenditures: 1. Delay of merit increases 1,834 -------- -------- Please let me know if further information is required. R~pectfully submitted, ~(;Jier~)Æ/~(,_~~1 \ J Donna Heishman Budget Director CITY OF NORTH RICHLAND HILLS I I I I I I I I I I I I I I I I I I I ORDINANCE NO. 1631 AN ORDINANCE ADOPTING AND APPROVING A BUDGET FOR THE CITY OF NORTH RICHLAND HILLS, TEXAS, FOR THE FISCAL YEAR OCTOBER 1ST, 1989 THROUGH SEPTEMBER 30TH, 1990. WHEREAS, an annual operating budget for the fiscal year October 1, 1989 through September 30, 1990 has been prepared by the City Manager for the City of North Richland Hills, Texas, and WHEREAS, said budget has been presented by the City Manager in accordance with the City Charter, and WHEREAS, public notices of a hearing upon this proposed budget have been published as required, and the public hearing held on said budget, and it is consensus that the budget, as submitted and amended should be approved, to wit: RECOMMENDED AMENDED AND BUDGET ADOPTED BUDGET ------------- -------------- General & Debt Service Funds Revenues: General Fund Debt Service Total Expenditures $12,806,799 $12,753,408 3,653,252 3,653,252 ------------- -------------- $16,460,051 $16,406,660 ------------- -------------- ------------- -------------- $98,628 $47,327 278,563 277,368 203,159 201,115 84,591 84,318 28,207 28,039 466,947 463,966 138,022 136,473 111,328 91,891 261,013 259,697 327,544 319,428 395,954 395,133 611,813 600,900 259,618 256,989 1,285,872 1,278,337 742,584 793,162 3,968,467 3,923,041 2,562,530 2,651,603 981,959 944,621 ------------- -------------- $12,806,799 $12,753,408 3,653,252 3,653,252 ------------- -------------- $16,460,051 $16,406,660 ._------------ -------------- ------------- -------------- Total Revenues Expenditures: City Council City Manager City Secretary Legal Civil Service Finance Budget Planning & Zoning Management Information Services Municipal Court Community Development Library Environmental Services Public Works Parks & Recreation Police Fire Non-Departmental Total General Fund Expenditures Debt Service Requirements I I I I I I I I I I I I I I I I I I I ORDINANCE NO. 1631 Page Two Utility Enterprise Fund Revenues: Water Sewer Interest Income & Misc. Total Revenues Expendi tu'res : City Manager Budget Public Works/Utility Finance/Utility Non-Departmental Total Expenditures Promotional Fund Revenues Expenditures Park & Library Fund Revenues Expenditures General/Utility elP Fund Revenues Expenditures Management Services Fund Revenues Appropriation of Retained Earnings Total Expenditures Self Insurance Fund Revenues Expenditures RECOMMENDED BUDGET ------------- $7,976,394 5,149,301 597,865 ------------- $13,723,560 ------------- $44,494 61,894 12,390,422 846,052 380,698 ------------- 13,723,560 ------------- $136,698 ------------- $136,698 ------------- $110,700 ------------- $110,700 ------------- $527,266 ------------- $527,266 ------------- $1,439,661 237,900 ------------- $1,677,561 ------------- $1,677,561 ------------- $1,915,325 ------------- $1,915,325 ------------- AMENDED AND ADOPTED BUDGET -------------- $7,976,394 5,149,301 597,865 -------------- $13,723,560 -------------- $44,111 61,306 12,396,668 840,777 380,698 -------------- 13,723,560 -------------- $136,698 -------------- $136,698 -------------- $110,700 -------------- $110,700 -------------- $347,857 -------------- $347,857 -------------- $1,435,665 237,900 -------------- $1,673,565 -------------- $1,673,565 -------------- $1,887,295 -------------- $1,887,295 -------------- I I I I I I I I I I I I I I I I I I I ORDINANCE NO. 1631 Page Three THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF NORTH RICHLAND HILLS, TEXAS, that the City Council of the City of North Richland Hills ratify, and approve the budget as filed and amended for the fiscal year beginning October 1, 1989 through September 30, 1990. PASSED AND APPROVED by a majority of the City Council at a meeting in the Council Chamber of the North Richland Hills City Hall on the 25th of September 1989. Mayor ATTEST: City Secretary APPROVED AS TO FORM AND LEGALITY: City Attorney I I I I I I I I I I I I I I I I I I I CITY OF NORTH RICHLAND HILLS Finance 9/25/89 Council Meeting Date: GN 89-114 Agenda Number: Department: Certified Tax Roll - Resolution No. 89-40 Subject: The II Truth-in-Taxation " section of Chapter 26 of the Texas Pro}?erty Tax Code requires that the Chief Appraiser of the taxing district supply each taxing unit within that county with certified totals of all appraised values within that taxing unit. Mr . william Roberts, Chief Appraiser of Tarrant Appraisal District, has sulrnitted totals of appraised values to the City of North Richland Hills for our review. The net taxable value is $1,454,004,905. Also, in accordance Section 26.01 of the State Pro}?erty Tax Code, the Chief Appraiser is directed to prepare a list of all pro}?erties pending disposition before the Appraisal Review Board. These values are not included in the net taxable values. However, in cat1puting the effecti ve tax rate calculations the minimum value of those pro}?erties ($8,166,703) must be added to the net taxable value as stated aoove. Those values will be included on a subsequent tax roll after final disposition by ARB. However, in view of the fact that the final disposition of sane of the appeals will not be dete:rmined until mid-December and historically the ARB grants concessions, the originally proposed budget is prepared without including those values. Conservatively, it is the staff's opinion that approximately $3,000,000 will be given in concessions by the ARB, which allows us to add $5,166, 703 to the tax roll. Recornnendation: It is recamended that the City accept the net taxable value of $1,454,004,905 and the values of those pro}?erties pending disposition before the ARB of $8,166,703. Finance Review l~/A Source of Funds: Bonds (GO/Rev.) Operating Budget Other Acct. Number Sufficient Funds Avai - k1 &- ~ - ìl16-o __ ? V :~ Department Head Signature CITY COUNCIL ACTION ITEM . Finance Director 2 l- Ie I I I I I I I Ie I I I I I I Ie I I RESOLUTION NO. 89-40 WHEREAS, the City Council of this City received the Ad Valorem Tax Rolls for the year 1989 from Tarrant Appraisal District in the amount of net taxable value of $1,454,004,905 plus value of properties pending disposition before the Appraisal Review Board; and WHEREAS, the City Council studied said Tax Rolls and approved same on September 25, 1989 . ~1()W , THEREFORE, be i t resolved by the Ci ty Council of the City of North Richland Hills, Texas, that: 1. The approval of said Tax Rolls received fran Tarrant Appraisal District in September, 1989, be and is hereby ratified and said Tax Rolls shall collectively be considered the Tax Roll of this City for 1989 and it is hereby in all things adopted and approved. Passed and approved the 25th day of September, 1989. Tœmy Brown - Mayor ATTEST: Jeanette Rewis - City Secretary APP:OOVED AS TO FORM AND LEGALITY: City Attorney I I I I I I I I I I I I I I I I CITY OF NORTH RICHLAND HILLS Finance 9/25/89 Department: Council Meeting Date: Exemptions for Budget Year 1989/90-Resolution No. 89-41 GN 89-115 Subject: Agenda Number: The attached Resolution grants the hanestead, over /65, and disabled exemptions for Budget Year 1989/90. The recœmendation of Councilman Welch has been included to increase the over/65 and disabled exemption to $29,000. Should Council decide not to increase that exemption, the proposed resolution will need to be modified. The revenue loss for the increased over/65 exemption is more fully explained in GN 89-113. Recarmendation: It is reccmnended that Resolution No. 89-41 be approved subject to the decision of City Council on the over /65 exempt æoount. Finance Review MIA I ~ I D- -t::::a 717 ~ ~ _ v e~ Acct. Number Sufficient Funds Available /J1c iC f"'- (F-J/ÍA'~ City Manager ....\ Source of Funds: Bonds (GO/Rev.) Operating Budget Other . Finance Director Department Head Signature CITY COUNCIL ACTION ITEM Pa e 1 of 2 I Ie I I I I I I I Ie I I I I I I Ie I I RESOLUTION NO. 89-41 BE IT RESOLVED by the Ci ty Council of the City of North Richland Hills, Texas, that: 1. There shall be exempt fran the Ci ty Ad Valorem Taxes for the year 1989, fifteen per cent (15%) (with a minimum of $5,000) of the assessed value of residential haœstead within the City which is occupied by the owner as his haœstead. 2. Persons over the age of 65 years, claiming an exemption pursuant to Ordinance No. 676 shall have a $29,000.00 exemption fran the assessed value of a residential hanestead. A person who is disabled within the meaning of Section 11.13 (m) of the Property Tax Code of the State of Texas, as of January 1st of each year shall be entitled to $29,000.00 exemption fran the assessed value of property owned by such disabled persons and used exclusively for hanestead purposes by such disabled persons. No person may claim both the "over 65" exemption and the "disability" exemption and no hanestead shall be subjected to both the "over 65" exemption and the "disability" exemption. 3. Persons claiming the exemptions must canply with the City Ordinances and Texas Property Tax Code. PASSED AND APPROVED this 25th day of September, 1989. Tam1y Brown - Mayor ATI'EST: Jeanette Rewis - City Secretary APPROVED AS 'ro FORM AND LEGALITY: City Attorney I I I I I I I I I I I I I I I I I I I CITY OF NORTH RICHLAND HILLS Finance 9/25/89 Department: Council Meeting Date: Tax Rate for Fiscal Year 1989/90-Drdinance No. 1630 GN 89-116 Subject: Agenda Number: The attached ordinance proposes a tax rate for fiscal year 1989/90 of 50.493¢ per $100 value. The breakdown is detailed as follows: 24.604¢ General Fund Operations 25.889¢ Debt Service 50 .493¢ Total Tax Rate The detailed sunmarization for the fiscal year 1989/90 budget is more fully explained in GN 89-113. Recœmendation: It is recorrmended that Ordinance No. 1630 be approved. Finance Review 1~/A Source of Funds: Bonds (GO/Rev.) Operating Budget Other Acct. Number == SUffiClen~ndS Available . ~ ~ ~~ J £ 7/l~.~ ii t~ ,v 1[(7~~~ Department Head Signature City Manager CITY COUNCIL ACTION ITEM , Finance Director Page 1 of 3 I Ie I I I I I I I Ie I I I I I I Ie I I ORDINANCE NO. 1630 AN ORDINANCE LEVYING A TAX RATE FOR THE CITY OF NORTH RICHLAND HILlS, TEXAS FOR THE 1989 TAX YEAR BE IT ORDAINED AND ORDERED BY THE CITY COUNCIL OF THE CITY OF NORTH RICHLAND HILLS THAT: We , the Ci ty Council of the Ci ty of North Richland Hills do hereby levy or adopt the tax rate on $100 valuation for this City for tax year 1988 as follows: $ .24604 for the purposes of maintenance and operation. $ .25889 for the payment of principal and interest on debt of this City. $ .50493 total tax rate. The tax assessor-collector is hereby authorized to assess and collect the taxes of the City of North Richland Hills on this 25th day of September, 1989. 1. That there is hereby levied and shall be collected as provided by law, an Ad Valorem tax for the year 1989 on all property, real and personal, except such property as may be exempt from taxation by Constitution and the statutes of the State of Texas, and ordinances and resolutions of the City of North Richland Hills, situated within the corporate limits of the City of North Richland Hills, Texas, on January 1, 1989, and that the amount to be applied to the value of such property shall be 50.493¢ per $100.00 valuation. 2. That the tax so levied and assessed shall be apportioned to the accounts and funds in the anount as set forth above. The amounts collected for payment of principal and interest on debt of the City shall be deposited into an interest and sinking fund for that purpose until a total of $3,653,252 is deposited from the 1989 Ad Valorem tax levy. A three percent (3%) uncollectible factor is imputed. 3. That the taxes provided for herein are in accordance with the appropriate State statues. 4. Ad Valorem taxes levied by this Ordinance shall be due and payable on October 1, 1989, and shall becaœ delinquent on the first day of February, 1990. Payment of such tax is due in one full install1œnt. 5. If the tax is unpaid after February 1, 1990, such tax will becaœ delinquent and penalty and interest will attach and accrue as provided by the Statures of the Texas Property Tax Code Sec. 33.01. l- Ie I I I I I I I Ie I I I I I I Ie I I ORDINÞNCE NO. 1630 Page ~ 6. In the event the taxes becane delinquent and in the event such delinquent taxes are referred to an attorney for collection, an addi tional amount of fifteen percent (15%) of the total amount of tax, penalty and interest then due shall be added as collection costs to be paid by the taxpayer. 7. Taxes herein levied and uncollected shall be a first prior and superior lien against the property, and the said lien shall be superior liens charges, and encumbrances, and such lien shall attach to personal property with the same priori ty as to real property. 8. The lien provided herein shall be attached as of January 1, 1989. 9. Should any section, provision or clause of the Ordinance be declared by a court of canpetent jurisdiction to be invalid, the same shall not affect the validity of the Ordinance as a whole or any part thereof other than the part so declared to be invalid. 10. The Ordinance shall becane effective fran and after the date of its approval and adoption as provided by law. PASSED AND APPROVED by the City Council of the City of North Richland Hills, Texas, upon fìrst and final reading, at a regular meeting on the 25th day of September, 1989. Tœmy Brown - Mayor ATrEST: Jeanette Rewis - City Secretary APPROVED AS TO FORM AND LEGALITY: City Attorney I I I I I I I I I I I I I I I I I I I CITY OF NORTH RICHLAND HILLS Public WOrks/Utilities 9-25-89 Council Meeting Date: Agenda Number: GN 89-117 Department: Subject: Approve Water Pipeline Crossing Agreement wi th Þtissouri Pacific Pãilr.oad Company and Resolution No. 89-39 The subject crossing is required to construct the D. L. Hall Water Transmission Main Project fran the Watauga Road Booster Ptm1p Station to the intersection of U. S. Hwy. 377 and Chapnan Road. This project is a part of a previous Revenue Bond program. The D. L. Hall Water Transmission Main will provide another large transmission main out of the Watauga Pump Station besides the existing 16" water main which is located on Watauga Road fran the pmnp station to U. S. Hwy. 377. The Missouri Pacific Railroad Company requires a license fee of $2,000 be paid for the agreenent to be accepted. Funding Source: Sufficient funds have been appropriated for the proposed project. The license fee should be expensed to account number 02-09-87-6050. Reccmœndation: The staff reccmœnds the Council approve the "Pipeline Agreerœnt for Crossing" with Missouri Pacific Railroad Carpany, Mile Post 234/76 Whitesboro Sub., Watauga, Tarrant County, Texas; payment of $2,000 license fee; and authorize the Mayor to sign said agreement by approval of Resolution No. 89-39. Finance Review See above Source of Funds: Bonds (GO/Rev.) Operating Budg Oth GO Acct. Number Sufficient Funds Available L/~ ~ ~, /[11 ~,~ I City Manager CITY COUNCIL ACTION ITEM ./ Finance Director 1 Page 1 of I Ie I I I I I I I Ie I I I I I I Ie I I RESOLUTION NO. 89-39 WHEREAS, Missouri Pacific Railroad Company (hereinafter called Railroad Company) has tendered to the City of North Richland Hills, State of Texas, (hereinafter called City) a license for a water pipeline crossing at Mile Post 234.76, Watauga, Texas; WHEREAS, the Council of said City has said proposed agreement before it and has given it careful review and consideration; and WHEREAS, it is considered that the best interest of said City will be subserved by the acceptance of said agreement; THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF NORTH RICHLAND HILLS, TEXAS: That the terms of the agreement submitted by the Railroad Company as aforesaid be, and the same are hereby, accepted in behalf of the City; That the Mayor of said City is hereby authorized, empowered, and directed to execute said agreement on behalf of said City and that the City Secretary of said City is hereby authorized and directed to attest said agreement and to attach to each duplicate original of said agreement a certified copy of this Resolution. PASSED AND APPROVED by the City Council of the City of North Richland Hills this day of , 1989. APPROVED: Tommy Brown - Mayor ATTEST: Jeanette Rewis - City Secretary APPROVED AS TO FORM AND LEGALITY: Rex McEntire - Attorney for the City I I . BQ 635 l :651 lð: I ~ tl ~L-:~. , ., I: .~ ~:~. f" t·u ,. r- . eo 1 D s:t : \, ......... ~ : '( ',¡ . . '61. ~l . I ') ~ ¡l-----ÿõKT-w.;.rriï----- ì ! ¡ I' ~-' Qst . .. 'I .'i I . " ~I \, é I \~\ " . 8 VA1~ygÌt ~~';. IJAL ~~;;~;;~~~=~~~4 =1 ~~. - ':. II 0 ( ~I ~' I II '-------~III ,,, 6.36 'C (~ 80,,~;reR PU~P STÞ.. · ~ :2- -- - WAT~UGA ~ø" '\~ ~ o o ! 6~..J Ie I 'I :1 :1 '''I; -,.1 ,I ," I e. -~ .~AD635 D.~· ,~p,(..,~: i'Yl.~¿: , ~I :1" _ ,. ." -.--.,- -.----. -- ~-.' ~·ij~1 ~~\, .'~~~ -,=-= ;~~~}:;~;-' .._-~: ~=~..r0J!~}" ., ~'. ~~~?"'·52]E.;;.. , :~:77:!:"-=-~:~·. ~J~'_ p ~:::-ß~ ~.~.~=. :.'_~C¿~~-;;~~~~;(~,¿~ ~ ~tjl, of ~t.UI. ~~'~,."' _~W.L C!!~~~Dr1ve"1:I_':,_'. ~._ i---;¡i-~.P~"" . 11:1 ~.'''~¡f:.¡~ ~ .:'I'tr·~! ., :....: ==-i')1~-¡ :F~3·:;. "1.: ;.~;c -:r; . ~''-'i ;;.. r'; \t~ ;r· i ~ , ¡., II \ . :,..J.P , ". ,~-.~ ""'\'.' .-....... ... f"'T"'~ . W ".- -- - ., ---- ~ II; = -~, .-': .-- ...!.':....:..,¡.= ";,,,:,.... , -, ~:~'.,:. ; f¿'.;-~'~ .: ~., ~ ~:-:; J.'~. ,_ _:. J i _ ã ' --, -. I i: .1 ;..' ,...., ',--, :1;t=;:: , /l'/'~ ~ 'r'.~-'. . - - -J :.;;:;.::;; ~j;) _ - ,;:::-- - · '~t.~.¡f·'~ =-.' .1, - I 1":,_. ' ";I~ r:,;,_II-:I;~'" ,;"~~, 1 _ - ' ~- --- -..-- - =,~~~ -- ',;' r: .~, ;'" (_,.... _., /1 _(~ ,. ~ ',___..' "~",, ',' .. , _ . -~tS~;".':I=-' ..u~'cX~...z-.; .....,~. /:t','~";_~_;'~,:;, ~ -- ' . \;;.; . . .~~ . - - . - - - :: -"1- --"I I ;r~-~-I.~.:. "':, ._ t¡--¡';f \ ~È -~~~-:)~L;: I_~j;'; ':' --,- - I !- tlJ' f' e.,¡"-' · .;.... ~..~..~ -- j e.-_ i "C!Ii .. 1'- t--1 &::"''1'-,.' -'-l-:-~.'--':I -.- -..J , ~ ~~.,. -4 ;:- '. _ '~~" t i~.:! -.. I I -8. · ilJr ..... .. . ,'-,-¡-._ _ -- . I - ~ . ---I I,' I - , · ~ I -. ·1 1 "" " _ _ t ....... '" . _ ,. ~ I .. - . - -- - - . -. ,I I · I ~. n: ,-.~ \. .. ~ t - .:.. - - - -- " . - '~., . " . · -: ~- ~_: - r"'4 ,-.' ."'-':'-=-l. '. .. I.. _. . l . -- . I - -¡ I':~ ~-. .-¡-, 1''-''-' ,. - t"- "-' 1.8. 820 "__';: ---. . I , , f,i':'_' 'Ô' i ." - ~...I_- _~:-Il... -f ~I v~y , -- ~.-:._---' -~ "a J~ -'.- .... ee / - .. r. ..-...,..,¡a... '" \ '" > _ ~" , " ./' ,~ ' . - 1.1 J..'-! It-:· ,_.-t! ... '. ~__ ,,~... · 1 I· \ \ " Y'~ I ~- ::'_:...1, R- . or-:: , ,. 1 ð- ~ I, \ '(\ \. ' ~ .-.... r -.' ..:. ~_. _-_ .., _'I_,£i_,I__I. I t ~~" I I "', -~'~~_·~~~~~~;ï·~r~-:-·~·-.. "~. ~ .. ~ " - -I. ::~. : 1 " · I I ,-, , _ I. ~~~.~~~~*~~~~~;~~t\ i. Hal to. C1 ty \ '... _. . _ ,...~-=- . 'i' "". ; \ " '-';',' L,:., r ,., J I )1:t · T JllFll-~~--;~ Cl ty of Rlchland Bills ,_r ---- ---'~:'-:1 I. .~. ~_.- - '!:...~ -.- ---- - r. ~,:"~. . i ~ :.. .... . ~-:_ ~.~~~~ _~,,,,, - ,.\.. t: '".~illi 3·652 VATAUGA D.L. HALL 16-INCH VATER LINE :: I I · -' - : . -: .~, " ~t, ~..:-. ,,~~ .' .~ ú~ D I II I Ie I I I ..;. I _.' ~.'-.- ¡' I u_· I I Ie I From Vatauga Road to Chapman Drive Total Estimated Cost = $ 204,000 CITY OF NORTH RICHLAND BILLS, TEXAS I . .. I Ie I I I I I I I Ie I I I I I I Ie I I B. W. ZANDBERGEN GENERAL DIRECTOR R. F. NIEHAUS DIRECTOR W. F. SOMERVELL DIRECTOR UNION PACIFIC RAILROAD COM August 24, 1989 .-y ~ :- © rn n \\\)1 : 7.:, : ',,', I J, .--. . !..J '-.. . ~._- ~ : i ¡t'" . :-~\jb . ssg 416 DODGE STREET OMAHA, NEBRASKA 681 79 , ~~' --# 1339-03 Mr. Gregory W. Dickens Director of Public Works City of North Richland Hills P.o. Box 18609 North Richland Hills, Texas 76180 Dear Mr. Dickens: Attached is agreement covering a water pipeline crossing at Mile Post 234.76, Watauga, Texas. Also enclosed is Contractor's Right of Entry Agreement which must be executed and returned in accordance with Article 5 of the attached agreement, if work is to be performed by a contractor. In the spaces marked by an "X", please arrange for execution of the attached doc\nnent and have the signatures witnessed as indicated. Please RETURN ALL COPIES of the document for execution on behalf of the Railroad Company. Your copy of the fully executed document will be returned to you, if approved by the Railroad Company. Also, please provide a resolution or other authorization for the party executing, and include the City's Insurance Certificate as required by the agreement, with the return of this document. Payment in the amount of $2,000.00 is due and payable upon your execution of the agreement. Please include your check with the return of the documents. This agreement will not be accepted by the Railroad Company until the payment is received. If you require formal billing, you may consider this letter as a formal bìll. If you have any questions, please contact me at (402) 271-2336. Sincerely, O~~f ~ r)~L~-- ~ C " J. CHR¡TENSEN Representative-Contracts I Ie I I I I I I I Ie I I I I I I Ie I I Folder No. 1339-03 PIPELINE AGREEMENT CROSSING Mile Post 234.76 Whitesboro Sub. Watauga, Tarrant County, Texas THIS AGREEMENT is made and entered into as of the day of , 19_____, by and between MISSOURI PACIFIC RAILROAD COMPANY, a Delaware corporation, (hereinafter the Licensor) and CITY OF NORTH RICHLAND HILLS, a Texas municipal corporation, of P.O. Box 18609, North Richland Hills, Texas 76180 (hereinafter the Licensee). IT IS MUTUALLY AGREED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS: Article 1. LICENSE FEE. Upon the execution of this Agreement, the Licensee shall pay to the Licensor a license fee of two thousand dollars ($2,000.00). Article 2. LICENSOR GRANTS RIGHT. In consideration of the license fee to be paid by Licensee and in further consideration of the covenants and agreements herein contained to be by the Licensee kept, observed and performed, the Licensor hereby grants to the Licensee the right to construct and thereafter, during the term hereof, to maintain and operate a water pipeline crossing (hereinafter called the Pipeline) in the location shown and in conformity with the dimensions and specifications indicated on the attached print marked Exhibit A. Article 3. CONSTRUCTION, MAINTENANCE AND OPERATION. The grant of right herein made to the Licensee is subject to each and all of the terms, provisions, conditions, limitations and covenants set forth herein and in Exhibit B, hereto attached. Article 4. INSURANCE. The Licensee, at the Licensee's own sole cost and expense, shall provide to the Licensor a Certificate of Insurance certifying to the effec- tiveness of insurance as follows: General Public Liability providing bodily injury and property damage coverage with combined single limit for each occurrence, with limits as currently in force or as required by law, whichever is greater, a portion of which may be self-insured with the consent and approval of the Licensor. PL X 890707 Form Approved, AVP-Law I Ie I I I I I I I Ie I I I I I I Ie I I Such insurance shall be endorsed to provide contractual liability assumed by the Licensee under this Agreement, and that coverage shall not be cancelled or changed without giving thirty (30) days' prior written notice to Licensor, c/o General Director-Contracts and Real Estate, 1416 Dodge street, Omaha, Nebraska 68179. Article 5. IF WORK IS TO BE PERFORMED BY CONTRACTOR. If a contractor is to do any of the work performed on the pipeline (including initial construction and subsequent relocation or substantial maintenance and repair work), then the Licensee shall require its contractor to execute the Licensor's form Contractor's Right of Entry Agreement. Licensee acknowledges receipt of a copy of the Contractor's Right of Entry Agreement and understanding of its terms, provisions, and requirements, and will inform its contractor of the need to execute the Agreement. Under no circumstances will Licenseefs contractor be allowed onto Licensor's premises without first executing the Contractor's Right of Entry Agreement. Article 6. TERM. This Agreement shall take effect as of the date first herein written and shall continue in full force and effect until terminated as herein provided. IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the date first herein written. MISSOURI PACIFIC RAILROAD COMPANY By Gen. Director-Contracts and Real Estate Witness: CITY OF NORTH RICHLAND HILLS x x Mayor PL X 890707 Form Approved, AVP-Law I I I I I I I I I I II I I I I I CITY OF NORTH RICHLAND HILLS Department: Budget ~ Council Meeting Date: 9/25/89 Subject: Increase in Vehicle Impoundment Fees - Ordinance No. 1634 Agenda Number: GN 89-118 As requested at the Budget Workshop in Granbury, an analysis was performed on fees charged by the Vehicle Impoundment Activity. The results, which are discussed in detail below, include a recommendation to increase the storage fee from $10 to $15 per day; the base charge for wrecker pulls from $45 to $50. Revenues generated by the Impoundment Activity include wrecker pulls, daily storage fees and auction proceeds. Following is a detailed projection of revenues which includes the current and proposed fee structures: Current Proposed -------- -------- Wrecker Pulls $31,320 $34,800 Daily Storage Fees 19,800 29,700 Auction Proceeds 8,334 8,334 -------- -------- Projected Revenues 59,454 72,834 Proposed Expenditures 72,834 . 72,834 -------- -------- Projected Profit/CLoss) ($13,380) $0 -------- -------- -------- -------- It should be noted that the projected expenditures of $72,834 include only those expenses which are directly attributable to the vehicl~ impoundment activity and does not include the indirect cost of supervision, building maintenance, utilities, etc. These items are not included as the expense for these items would remain even if the pound were closed. As shown above, in order to break-even the fees should be increased as noted. The attached Ordinance No.1634 includes the increase in fees. Recommendation: It is recommended that City Council approve Ordinance No. 1634 which increases the Daily Storage Fee from $10 to $15 per day and the base wrecker pull charge from $45 to $50. I Source of Funds: _ Bonds (GO/Rev.) . Operating Budget I Other a~ I -----X- ~ Finance Review Acct. Number 01-80-07-6400 SU,fficient fun?, s Available , ~ /1, \. . .~ ìf/~ - ¿~-' . FonanceD"ector - City Manager CITY COUNCIL ACTION ITEM Page 1 of 1 I Ie I -., I I II I I Ie I I I I I I Ie I I ORDINANCE NO. 1634 BE IT ORDAINED by the City of North Richland Hills, Texas that Ordinance No. 1490 (Vehicle Storage), adopted September 28, 1987 and as heretofore amended, at section V., 3-1. and Section XIV. SECTION V. 3-1. Base Charge Wrecker Pulls (Normal) $50.00 SECTION XIV. The vehicle storage fees to be applied to impounded vehicles shall be fifteen dollars ($15.00) per day. PASSED AND APPROVED this 25th day of September, 1989. Mayor ATTEST: City Secretary APPROVED AS TO FORM AND LEGALITY: Attorney for the City I~ CITY OF NORTH RICHLAND HILLS I I I I I I I I I I I I I I I I I Subject: Council Meeting Date: Public Hearing for Consideration of Application for GN 89-119 Agenda Number: Department: Economic Development 9/25/89 Tax Abatement by AEGON/Life Investors Ordinance No. 1635 Reso¡ution No. 89-42 On September 15, 1989, City Council received the Feasibility Study and Recommendation prepared by the Department of Economic Development and Planning on AEGON/Life Investors application for tax abatement. The application and recommendation were discussed at a City Council Work Session on Tuesday, September 19, 1989. RECOMMENDATION: It is the recommendation of City Staff that the City Council hold the required Public Hearing and act on the below listed items: 1. Approval of Ordinance No. 1635 designating a reinvestment zone pursuant to Section 312.401 of the Texas Property Redevelopment and Tax Abatement Act. 2. Approval of Resolution No. 89-42 approving the application by AEGON/Life Investors for tax abatement and authorizing the City Manager to execute the Abatement Contract in accordance with the City Guidelines and Criteria on tax abatement. Source of Funds: Bonds (GO/Rev.) Operating Budget Other ~~.~ Finance Review Acct. Number Sufficient Funds Available ,Ie ~~¿~ Department Heact Signatur I CI y Manager CITY COUNCIL ACTION ITEM , Finance Director ~~,l \. 1 Page 1 of I Ie I I I 'I I I I Ie I I I I I I Ie I I City of J(òrth Richland Hills September 19, 1989 ... :::ORANDUM:. A. Sanford, Assistant City Manager ~~ From: Bob Miller, Director, Economic Development & Planning Subj: Projected Tax Revenues; AEGON Project Attached is a breakdown of the projected tax revenues from the AEGON/Life Investors Project. In the current Fiscal Year (FY88/89) we will be getting approximately $20 in tax revenues from this property. 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QJ U 0 "C J-t c.J 0"\ 0 ....-t 0 I cU +J'µ OJ U UJ <lJ CftS~~ .r-t <1J <1J J-t 00 0"\ 0"\ Z ~ ~ c c ~ OJ ~ ;:j HCftS=' CI) .µ ~ Q) '" 0"\ '" -i< <lJ <lJ <lJ c:o 'tj C oe-.~ CI) c.J p.. ~ r-t r-t -i< ~ +JEE ~~ I H <lJ <lJ +J.~ :r: +J 4-t<lJ<lJ OJ+J ~ U +J :> O+J ~rn~ ::3 Q) )..¡ ,ce:>:> c: )..¡ ......1 U <lJ Z .~ +oJ <lJ Z c.J .r; <lJ o 0 o <lJ 0 ...J <lJ0:: 'O~E CI) 0 I ~! 0. 'tj"'Cj~)..¡ U)~ 0:: ~ .~ U) 'tj <lJ 0 C .,.-t J-t 0 CCo..o. ~ 0 E-4 o X <lJ ,ce o..:r:.~ Q Q.. )..¡ OJ fÛ E (l) )..¡ c.'J 0 ~ fÛ 0 P-t ~~ H ~~ ~ E-4 ~E-4 0 -i< -i< I,-~ Ie I I I I I I I Ie I I I I I I Ie I I ORDINANCE NO. 1635 WHEREAS, the City of North Richland Hills City Council has determined that the economic well being of the City of North Richland Hills is of primary concern to the City Council, and; WHEREAS, Chapter 312, Texas Tax Code, known as the Texas Property Redevelopment and Tax Abatement Act provides that the City of North Richland Hills has the authority to create reinvestment zones within the City for the purpose of economic development, and; WHEREAS, on September 11, 1989, the City of North Richland Hills City Council, by resolution, established certain guidelines and criteria governing tax abatement agreements and indicated the desire of the City of North Richland Hills to become eligible to participate in tax abatement agreements, and; WHEREAS, AEGON/Life Investors has requested the designation of a reinvestment zone for purposes of tax abatement of real property belonging to AEGON/Life Investors, for the purposes of economic development as defined under the Texas Property Redevelopment and Tax Abatement Act~ and; WHEREAS, on the 16th day of September, 1989, notice was published in the Mid Cities News stating that a public hearing would be conducted by the City of North Richland Hills City Council on the 25th day of September, 1989, to consider the request of AEGON/Life Investors to have the property herein described in Exhibit "A" designated as a reinvestment zone, and; WHEREAS, it is the finding of the City Council of the City of North Richland Hills that the terms of the agreement and the property subject to the agreement as presented to the City of North Richland Hills by AEGON/Life Investors, meet the applicable guidelines and criteria adopted by the City Council of September 11, 1989, and; WHEREAS, it is the finding of the City Council of the City of North Richland Hills that the creation of a reinvestment zone for the above stated property would be a benefit to the said property and the development anticipated to occur in the proposed zone would contribute to the economic development of the City of North Richland Hills, and; WHEREAS, it is the finding of the City Council of the City of North Richland Hills that the designation of the reinvestment zone would contribute to the retention or expansion of primary employment within the City of North Richland Hills, Texas, and; WHEREAS, I·' Ie I I I I I I I Ie I I I I I I Ie I I WHEREAS, it is the finding of the City Council of the City of North Richland Hills that the designation of the reinvestment zone would attract major investment in the zone, and; BE IT THEREFORE ORDERED that the City council of the City of North Richland Hills hereby designates as a reinvestment zone property herein described in Exhibit "A" pursuant to the authority contained in Section 312.401 of the Texas Property Redevelopment and Tax Abatement Act. Passed in open session of the City Council this 25th day of September, 1989. Tommy Brown, Mayor City of North Richland Hills, Texas ATTEST: Jeanette Rewis, City Secretary I Ie I I I I I I I Ie I I I I I I Ie I I -- ----~ PROPERTY DESCRIPTION FOR PARCEL~NO. 1 ZONING 0-1 17.Q2 acres of land situated in the ~. C. Walkec Survey, Ab8~ract No. 1652, Tarrant County, Texas and also being a por~ion of an 25.939 acre tract and a 50.001 acre tract conveyed to The Fort Worth National Bank of Fort Worth, Texas, Trustee (1/2 interest), Prudence Wyman Lucas· (1/4 interest), and James A. Lucas, Tustee of Nancy Lucas Traweek Irrevocable Tru.t (1/4 intecest)1 said 17.02 acres of land being more pac~icularly described by metes and bounds as follows: BEG1NNING at a point in the west line of said 50.001 acre tcaat, said point lies S 00" 12' 34" W 664.0 feet from the norUhwest corner of said 50.001 acre tract: THENCE S 89° 47' 26ft E 698.97 feet to a point for corne.r~ Thence S OQo 12' 34" W 614.10 feet to an angle point: THE~CE S 44° 04' E 147.20 feet to a point for corner; THE~CE S 45° 56' W 561. 33 feet to a point ,for corner; THESCE N 88· 05.1 58' W 400.00 feet to a corner; THE~CE N 00· 12' 34" E at 100.00 feet pass a 3/4 inch pipe in the north 1 in. of said 25 .939 acre tract and alao being the southweet corner of said 50.001 acre tract and continuing in all 1099.57 feet to the POINT OF BEGINNING and containing 17.02 acr,ø of land. EXHIBIT "A". I" Ie I I I I I I I Ie I I I I I I Ie I I RESOLUTION 89-42 WHEREAS, the economic viability of the City of North Richland Hills depends on the City's ability to attract new investment through the location of new industry and the expansion of existing industry, and; WHEREAS, the creation and retention of job opportunities that result from new economic development is the highest civic priority, and; WHEREAS, the Texas Property Redevelopment and Tax Abatement Act authorizes cities that have adopted "guidelines and criteria" for the designation of reinvestment zones for purposes of tax abatement to participate in such tax abatement, and; WHEREAS, the City of North Richland Hills City Council adopted such guidelines and criteria by resolution 0 September 11, 1989, and; WHEREAS, the City of North Richland Hills City Council has designated the 17.02 acres, more or less, owned by AEGON/Life Investors, as a reinvestment zone, and; WHEREAS, AEGON/Life Investors has requested tax abatement for improvements to be constructed in the reinvestment zone, and; WHEREAS, the planned property improvements will have an estimated total value of $8,000,000 and AEGON/Life Investors will hire a minimum of 177 additional permanent, full-time employees at the facility on whic~ taxes will be abated, and; WHEREAS, the City Council finds that the request for tax abatement by AEGON/Life Investors, meets the applicable City Guidelines and Criteria, adopted September 11, 1989, and requirements of the Texas Property Redevelopment and Tax Abatement Act, and; WHEREAS, the City Council finds that approval of the proposed tax abatement will not have a substantially adverse effect on the provision of government services or tax base, that the applicant has sufficient financial capacity to carry out the project, that the planned use of the property does not constitute a hazard to public safety, health or morals, and that the planned use of the property does not violate other codes or laws, and; WHEREAS, the City Council has held a public hearing in compliance with the City Guidelines and Criteria to provide other affected jurisdictions with an opportunity to show cause to the City Council for denying the application for tax abatement by AEGON/Life Investors, and that no such cause was demonstrated. I.. . Ie I I I I I I I Ie I I I I I I Ie I I NOW, THEREFORE BE IT RESOLVED that the City of North Richland Hills City Council does hereby approve the application by AEGON/Life Investors for tax abatement associated with the improvements described in its application for such abatement, dated September 6, 1989, and; BE IT FURTHER RESOLVED that the City of North Richland Hills City Council does hereby authorize the City Manager to execute the contract and other documents, as necessary, to implement the tax abatement agreement in accordance with the City Guidelines and Criteria. Tommy Brown, Mayor City of North Richland Hills, Texas ATTEST: Jeanette Rewis, City Secretary I Ie I I I I I I I Ie I I I I I I Ie I I THE STATE OF TEXAS: CITY OF NORTH RICHLAND HILLS: CONTRACT This instrument is an Abatement Contract executed by and between the City of North Richland Hills, ("CITY"), a political subdivision of the State of Texas, acting by and through its City Manager as heretofore duly authorized, and AEGON/Life Investors ("COMPANY"), acting through its duly authorized officers and agents. Its terms and conditions are supported by good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged. INTRODUCTION The Texas Property Redevelopment and Tax Abatement Act and all amendments thereto ("LAW") provides that the governing body of the CITY has the power to create one or more reinvestment zones for the abatement of ad valorem taxes provided that certain conditions as detailed in the LAW are· met. COMPANY owns real property ("REAL PROPERTY") located within the taxing jurisdiction of the CITY. The CITY has designated by ordinance the REAL PROPERTY as a reinvestment zone ("ZONE") eligible for the abatement of ad valorem taxes. The ordinance creating the ZONE is attached as Exhibit "A". By virtue of the CITY following the requirements of the LAW in creating the ZONE, the CITY and COMPANY now exercise their rights to enter into this instrument, the terms and conditions of which are detailed below, and with the attached exhibits, constitute the full and complete agreement ("CONTRACT") between CITY and COMPANY concerning the abatement of certain ad valorem taxes from the ZONE and otherwise payable to CITY. TERMS AND CONDITIONS (1) All ad valorem taxes ("TAXES") from the ZONE otherwise owed the CITY by COMPANY and which are generated solely by virtue of real property improvements eligible for tax abatement under the LAW and the CITY's "guidelines and criteria", adopted September 11, 1989, and identified in COMPANY's application for tax abatement, dated September 6, 1989, are hereby abated beginning with such taxes for Tax Year 1991, payable to CITY by January 31, 1992, and, ending with such taxes for tax year 1995, payable to CITY by January 31, 1996, in accordance with the following schedule: I Ie I I I I I I I Ie I I I I I I Ie I I Contract Page Two Tax Year Amount Abated 1991 1992 1993 1994 1995 100% 100% 100% 100% 100% provided that the terms and conditions of this CONTRACT are met by COMPANY. TAXES from the ZONE not associated with the eligible improvements, above, and those derived from real property outside the ZONE are not abated. (2) COMPANY has committed to construct such improvements ("FACILITY") within the ZONE and will prior to completion or three (3) years following the commencement of construction, whichever is less, spend a minimum of in excess of EIGHT MILLION DOLLARS ($8,000,000) towards its construction. Failure by COMPANY to spend a minimum of EIGHT MILLION DOLLARS ($8,000,000) towards the construction of the FACILITY shall constitute default by COMPANY of this CONTRACT. The kind, number and location of all proposed improvements constituting the FACILITY are attached to this CONTRACT as Exhibit "Bu. The parties understand and agree that the estimates as to the costs of constructing such improvements as contained in Exhibit "B" are only good faith estimates, and that the actual costs of construction will not be known until construction of the FACILITY is completed. (3) COMPANY has committed to hire not less than ONE HUNDRED AND SEVENTY-SEVEN (177) permanent, full-time employees associated with the production of goods and/or services at the FACILITY. Two or more part-time permanent employees totaling an average of not less than 40 hours per week may be considered as one full-time, permanent employee. Failure by COMPANY to hire a minimum of ONE HUNDRED AND SEVENTY-SEVEN (177) permanent, full-time employees shall constitute default by COMPANY of this CONTRACT. (4) Employees and/or designated representatives of the CITY will have access to the ZONE during the term of this CONTRACT to inspect the FACILITY to determine if the terms and conditions of this CONTRACT are being met. All inspections will be made only after the CITY or its represent~tive(s) have given twenty four (24) hours prior notice and will only be conducted in such a manner as to not reasonably interfere with the construction and/or operation of the FACILITY. All inspections will be made with one or more representatives of COMPANY present, and in accordance with its safety standards. At the conclusion of the construction of the FACILITY, COMPANY shall provide to the CITY a sworn affidavit executed by the authorized representative of COMPANY that construction of the FACILITY is completed, and the total amount of money actually spent on the construction of the FACILITY. I Ie I I I I I I I Ie I I I I I I Ie I I Contract Page Three (5) In the event that (a) COMPANY allows its ad valorem taxes owed CITY to become delinquent and fails to follow in a timely and proper manner the legal procedures for their protest and/or contest; or (b) COMPANY violates any of the terms and conditions of this CONTRACT, and fails to cure during the Cure Period (as hereafter provided), this CONTRACT shall be deemed in default, and then may be terminated by the CITY, and all TAXES otherwise abated by virtue of this CONTRACT will be recaptured and paid to the CITY by COMPANY within sixty (60) days of the termination. In the event of default, as above defined, all actions on the part of the CITY to exercise its rights and remedies under the CONTRACT, including but not limited to, the hiring of legal counsel, incurring of fees, costs or charges of or in connection with any legal action brought by the CITY, shall be the financial responsibility of the COMPANY. No delay or failure by the CITY to exercise any right herein upon default by COMPANY or to insist upon strict compliance by COMPANY with the terms and provisions hereof, shall impair any such right or be construed to be a waiver thereof of any other provision of this contract. (6) In the event that the FACILITY is completed and begins operation but subsequently discontinues operation for any reason excepting fire, explosion, or other casualty or accident or natural disaster for a period of one year during the Abatement Period, then this CONTRACT shall terminate and so shall the abatement of TAXES for the calendar year during which the FACILITY no longer operates. The TAXES otherwise abated for that calendar year shall be paid to the CITY within sixty (60) days from the date of termination. (7) In the event that the legally determined fair market value of the REAL PROPERTY on January 1 of any Tax Year is less than the legally determined fair market value of the REAL PROPERTY as of January 1, 1991 ("BASE YEAR"), then the abatement of the TAXES on the FACILITY for such Tax Year shall be reduced during such Tax Year for each dollar that the fair market value of the REAL PROPERTY is less than the BASE VALUE; provided, however, that in no event shall the offset exceed the fair market value of the REAL PROPERTY that would otherwise be abated. The assessed value of the REAL PROPERTY shall be that value assigned by the Tarrant Appraisal District. (8) Should the CITY determine that COMPANY is in default in the terms and conditions of this CONTRACT, then the CITY shall notify COMPANY at the address stated below of such claimed default, and if such is not cured within sixty (60) days from the date of such notice ("CURE PERIOD"), this CONTRACT may be terminated by the CITY. Any notice of default, and any notice of termination after the expiration of the CURE PERIOD shall be given by personal delivery or by certified mail, return receipt requested. In the event the notice is effected by personal I· Ie I I I I I I I Ie I I I I I I Ie I I Contract Page Four delivery, the date and hour of actual delivery of notice shall be the time and date of such notice to COMPANY. Absent a postal strike or other stoppage of the mails, in the event of delivery of notice by registered or certified United States mail, the date and hour following forty-eight (48) hours after the date and hour at which the sealed envelope containing the notice is deposited in the United States mail, properly addressed, and with postage prepaid, shall be the time and date of such notice to COMPANY. (9) All information provided by COMPANY in its application for Tax Abatement, dated September 6, 1989, and supplemental information requested by the CITY or its representative, hereinafter is incorporated into this CONTRACT. (10) Time is of the essence in the performance of this CONTRACT. (11) All notices required or contemplated by this CONTRACT shall be addressed as follows: If to COMPANY, then to AEGON USA Realty Advisors, Inc., 4333 Edgewood Road, N.E., Cedar Rapids, Iowa 52499, Attention: David Blankenship, President. If to CITY, then to The City of North Richland Hills, Texas, City Hall, 7301 N.E. Loop 820, North Richland Hills, Texas 76180, Attention: Rodger N. Line, City Manager. (12) The terms and conditions of this CONTRACT are binding upon the successors and assigns of both parties hereto. This CONTRACT cannot be assigned by COMPANY unless permission is first granted by the CITY, which permission will not be unreasonably withheld. The terms and conditions as stated in this CONTRACT constitute the entire agreement of the parties and any prior discussions, representations, or agreements, if any, whether written or oral, not contained herein are of no force and effect and form no basis or part of this CONTRACT. (13) No term or condition of this CONTRACT represents an obligation upon any other affected taxing unit except as provided for under the LAW. (14) This CONTRACT was authorized by the City Council of the City of North Richland Hills, State of Texas, by a vote taken in a properly called and conducted meeting on September 25, 1989, at at which time said City Council appointed City Manager Rodger N. Line to execute this contract on their behalf. (15) Authority to execute this contract on behalf of COMPANY was duly authorized as a result of action taken by the Board of Directors of AEGON/Life Investors. I· Ie I I I I I I I Ie I I I I I I Ie I I Contract Page Five (16) This CONTRACT is performable in Tarrant County, Texas. WITNESS OUR HANDS, this the day of , 1989. ATTEST: CITY OF NORTH RICHLAND HILLS Jeanette Rewis City Secretary Rodger N. Line City Manager ATTEST: AEGON/Life Investors Secretary David Blankenship President -- ------ I Ie I I I I I I I Ie I I I I I I Ie I PROPERTY DESCRIPTION FOR PARCEL~NO. 1 ZONING 0-1 17.Q2 acres of land situated in the L. C. Walker Survey, Abat;ract No. 1652, Tarrant County I Texas a.nd also being a poc~ion of an 25.939 acre tract and a 50.001 acre tract conveyed to The Fort Worth National Sank of Fort Worth, Texas, Tru~tee (1/2 interest), Pr:udence Wyman Lucas· (1/4 interest), and James A. Lucas, Tustee of Nancy ~ucas Traweek Irrevocable Tru.t (1/4 interest)1 said 17.02 acres of land being more par~iculacly described by metes and bounds as follows: BEGJ:NNING at a point in t.he west line of said 50.001 acre traat, said point lies S 00" 12' 3411 W 664.0 feet from the norUhwest corner of said 50.001 acre tract: THENCE S 89° 47' 26ft E 698.97 feet to a point for corner: Thence S 000 12' 34" W 614.10 feet to an angle point: THE~CE S 440 04' E 147.20 feet to a point for corner; THE~CE S 450 56' W 561.33 feet to a point for corner; 'rHEtlCE ~ 880 05.1 58' W 400.00 feet to a corner: THB~CE N 00· 12' 34" E at 100.00 feet pasa a 3/4 inch pipe in the north 1 in. of said 25.939 acre tract and also beinq the southwest corner of said 50.001 acre tract and continuing in all 1099.57 feet to the POINT OF BEGINNING and containing 17.02 acres of land. EXHIBIT "A". t TnTt'\1 r""'I n.... I Ie I I I I I I I Ie I I I I I I Ie I I Exhibit "B" 1. AEGON/Life Investors will construct, to begin immediately upon rezoning approval and issuance of building permits, an approximate 100,000 sq. ft. building on the site designated as a reinvestment zone. 2. AEGON/Life Investors will participate in the costs associated with the delivery of minimum 12" water service and 10" sewer service, including design and engineering, but specifically excluding the cost of obtaining easements. Maximum cost to AEGON/Life Investors for the development of off-site utility services, shall not exceed $280,000. Other landowners, benefiting from the extension of utilities, upon connection to the extended lines, shall be required to reimburse AEGON/Life Investors costs relative to off-site utility services. The City of North Richland shall reimburse AEGON/Life Investors after a period of ten years for those refunds which have not yet been paid to AEGON/Life Investors - with the maximum contribution by the City for these refunds to be no more than $40,000. 3. All engineering plans and specifications for water and sewer facilities shall be prepared by AEGON/Life Investors and presented to the City for approval by the Director of Public Works. Upon review and approval by the Director of Public Works, the City of North Richland Hills guarantees the delivery of water and sewer service to the property no later than 225 calendar days after the date approval is granted or September 1, 1990, whichever is later. * *Negotiations are still underway to define penalties. Will be included in final contract. 4. In addition to, and not subject to the $280,000 ceiling for utility service installation, AEGON/Life Investors will bear the expense of extending the 6" water line under Grapeving Highway to service the site with water during the construction period. 5. The City of North Richland Hills agrees to present AEGON/Life Investors tax abatement request to the Birdville Independent School District, and, to encourage and assist B.I.S.D. in their review of the request for abatement. I" Ie I I I I I I I Ie I I I I I I Ie I I Exhibit "B" Page Two 6. AEGON/Life Investors agrees to donate Right-Of-Way as required for the expansion of Precinct Line Road and for the future expansion of Cardinal/Cannon as required in the platting process. 7. City of North Richland Hills staff agrees to assist in the coordination between the City of North Richland Hills, the City of Hurst and the State of Texas Highway Department, in an attempt to increase the size of the proposed drainage culvert under Precinct Line Road and obtain approval for the subsequent downstream effectsat the 100 Year flood level. 8. The City of North Richland Hills and AEGON/Life Investors agree to share in the cost of the extension of water and sewer service as outlined below: Item AEGON Cost City Cost Total Cost Water Service $70,000* $70,000 $140,000 Sewer Service $279,409 $69,852 $349,261 TOTALS $349,409 $139,852 $489,261 *Cost for on site loop. 9. The City of North Richland Hills agrees to waive all fees which would normally be required for zoning and platting of AEGON/Life Investors property. 10. The City of North Richland Hills agrees to waive all Public Works Inspection Fees (approximately $24,000) which AEGON/Life Investors would normally be expected to pay. 11. AEGON/Life Investors agrees to pay all permit fees as outlined below: * Building Permit Mechanical Permit Electrical Permit Plumbing Permit Fire Inspection $28,940 1,460 1,030 1,107 415 $32,952 TOTAL CITY OF NORTH RICHLAND HILLS I I I I I I I I I I I I I I I I I Finance 9/25/89 Council Meeting Date: Agenda Number: GN 89-120 Department: Subject: Public Funds Investment Policy The Texas State Legislature adopted the Public Funds Investment Act in August 1987. In accordance with that Act, City Council Adopted the City of North Richland Hills first investments policy in September 1987. Because of recent legislation up:lates, Bank regulation changes, and Arbitrage restrictions, it has becane necessary for us to revise the investment policy currently in use. The finance Department sul:mitted the old investment policy to the Texas Municipal Treasurer's Associations' investment policy review conmi ttee . We took this conmi ttee I s critique and revised our policy based on their ccmnents and suggestions. 'Ibe revised policy allows for a more diverse portfolio in the type of investment instruments but also imposes strict limits on the number of Securities dealers and banks, c3IIDunt of the portfolio allowed \·ri th each insti tution, and the percentage of types of investments purchased based on total portfolio. Overall, this revised investment policy is designed in a manner responsive to the public trust and consistent with state and local law. Reccmnendation: It is the staff's reccmnendation that the attached revised Invesbœnt Policy be adopted effective September 25, 1989. Finance Review Source of Funds: Bonds (GO/Rev.) Operating Budget Other a - /JI /17~_a ~ -; fA( Department Head Signature CITY COUNCIL ACTION ITEM Acct. Number ÞI/l\ J Sufficient Funds Available f, "¡ ~, /. ~, r¡, -~ ~ Finance Director , 'h. 1/ / ./ /,' ' :; ·t L .L- ! ( :.f1. / ,_ :;-A/....~ ( / ' City Manager 27 I Ie I I I I I I I Ie I I I I I I Ie I I CITY OF NORTH RICHLAND HILLS INVESTMENT POLICY SEPTEMBER 25, 1989 1 I Ie I TABLE OF CONTENTS Preface. . . , . , . , . . . . . . . . . , . . . . . . . . . . . . . . T I I I . I I I I . TV. I P 1/ . I I V I . \'11. I Ie VIII. IX. x. I XI. I A. I B. I c. D. I E. F. I Ie I I ........ ............ .3 Introduction and Objectives.... .............,...... .4 Delegation and Restriction of Investment Authority. .4 Investment Committee.............. .5 Acceptable Investment Instruments.. .5 Diversification................ . · . . . 6 A. Secur.ities DealerR and Banks.. B. Investment Type.. C. Fund Type.... ..... . . . . . . . . . . . . . . . . . . . . . 6 .8 ........8 ....... Safekeeping.... . · . . 9 Collateralization. . . . . . . . · . 1 0 Investment Reporting............. . . . . . . · . . 1 1 Prudence and Ethical Standards. · . . 1 2 Arbitrage..... . · . 1 2 Depositories.... . . . . .13 APPENDICES City of :.Jorth Rlchland Hills Ordillancc 1335......... .15 Investment Bid Form........... . . 1 7 Authorized Securities Dealers. . . 18 Primary Dealers................. . . . . . . .......19 PSA Master Repurchase Agreement. .......20 Public Funds Investment Act of 1987................. .26 2 I Ie I PREFACE I "A public office is a public trust." Charles Sumner, J372 I I If a public office is a public trust, then the trust must be administered properly. Public fund~ arc 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 I In most cases, laws govern the investment process. Laws 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, ski] Is, systems, policies, procedures and confidence that can be described only as professional discipline. I Ie I It Is the policy of the City of North Richland 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. I Effective cash management is recognized as essential to good .fi~ca.1 management. An aggressive cash mana~ement and investment policy will be pursued to"take advantage of investment interest a~ :1. viable and material revenue to all operating and capital funds. Earnings from investments will be used in a manner that \\1111 best ::>erve the interest of the City of North Richland Hills. I I The City's portfolio shalJ be designed and managed in a manner responsive to the public trust and consistent with state and local law. I I Ie I I 3 I Ie I I. INTRODUCTION AND OßJECTIVES I The purpose of the .investment policy in the City of North Richland Hills shall be to have all available funds invested to the maximum extent possible at the highest possible rates obtainable at the time of investment in conformance with the legal and administrative guidelines outlin~d herein. The investments shall he (~onsistent with state and local law and shall be made in accord with the following objectives: I I security of investments and City funds is the primary objective. -- preservation of capjtal iind protection of principal. .- m a i n ten a n ceo f s u f f i c i en t 1 i qui d i t Y tom e eta per a tin g nee d s . - maximization of return of the portfolio. - diversification of investments to avoid unreasonable or avoidable risks. I Cash ffian3EPment 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 Finance Director 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 Richland Hills. I I Ie The City is required under the Public Funds Investment Act of 1987, Section 5, to adopt a formal written Investment Policy. The policy adopted in September 1987 has been refined by this amended investment policy and is updated with the new State requirements. I I II. DELEGATION AND RESTRICTION OF INVESTMENT AUTHORITY I 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. I The City Manager and the Finance Director are the City's investment officers as stated in City Ordinance # 1335 and approved by ctty Council on January 13, 1986 (Appendix "A"). I I Responsibility and authority for daily investment transactions and cash management reside with the City Finance Director. The Finance Director is also responsible for c () n s j d e r .i n g the qua.l i t y and cap a lJ i 1 i t~ Y 0 f s t a f f involved in investment management and procedures. All participants in the Investment process shall seek to act responsibly ;:-~s cllstodians of public trust. Ie I I :1 I Ie I I I I I I I Ie I I I I I I Ie I I r T T i ~ 1 . rNVEST~ENT COMMITTEE T 11 c r ~ s 1-1 a ] 1 b (~ (~S tab } ,1 she d ani n v cst men t com m i t tee t' (] é1. ~; s i s tin m 0 n i. tor i n g the pel' for' man c e and s t rue t u reo f the C i t Y 's p 0 r t f 0 1 i 0 and t 0 a p p r n v e n f ..i n v est men t s wit h mat 11 r i tie S 0 ve r t ~~ 0 yea r 3 . Me m b e r s of t.his committee should i.nrlude the Director of Finance (as C h air man ), t h. e ;\ ~ R i s tan t. r i n (1 n c (~ f) 1. r e c tor, :-:~ ; ~ ~1, j 0 r /\ ceo u n tan t, and the City Budget Officer. The committee shall meet no less than qua r t cr .l y t (J r p vie w the 1 n v f~ S t men t po r t f 0 ] i 0 () f the C j t y an d é1 t such other times as necessary to approve investments in excess of two years in maturity. IV. ACCEPTABLE INVESTMENT INSTRUMENTS Obligations of the United States or its agencies and instrumentalities. - Direct obligations of the State of Texas or its agencies. 0- 0 the rob 1 i gat ion s. the p r i n c i pal 0 fan din t ere s ton w h i c h are unconditionally guaranteed or insured by the State of Texas or the United States. - Certificates of deposit issued by state and national banks domiciled in the State of Texas and collateralized or fully in~ured hy FDIC or US Gov~rnment securjtjes. - Direct repurchase agreements having a defined termination date, and secured by the US Government or federal a~ency securities. Effective August 27, 1989, Senate Bill 1342 amends the Public Funds Investment Act of 1987, Section 2, Authorized Investments. Added to the list of acceptable investment instruments are: (1) prime domestic bankers' acceptances ( 2) com mer c .i alp ape r w.i. t h"a s tat e d mat u r i t Y 0 f 2 7 0 day S 0 r .1 e s s from the date of its issuance that either: a) is rated not less than A-I, P-l, or the equivalent by at least two nationally recognized credit rating agencies; or b) is rated at least A-I, P-l or the equivalent by at least one nationally recognized credit rating agency and is fully secured by an irrevocable letter of credit issued by a bank organized and existing under laws of the United States or any state thereof. Senate Bill 1340 allowing Investment Pools will also become effective August 27, 1989. This bill amends three prior statutes to authorize municipalities and other political subdivisions of the State of Texas to invest their ptlblic funds jointly through investment pools. A decision ta participate in an investment pool requires a Participation or Interlocal Agreement to be executed with the State or Interlocal authority responsible for the investment pool. ThiR agreement will specifjy the Participant's authorized representative and the standard delivery instructions for fund transfers and informatjon reports. 5 I Ie I The investment matllrity schedule shall correspond with the City's projected cash flow needs. The minimum maturity on any investment sha]l be one day (overnight). Maturities will be staggered to meet liquidity and operating requirements. I In order lo enhanc{~ total yield and fulfill the objectives of this policy~ the investment profile will be directed towards an active versus a passive portfolio. Safety of principal .is the foremost objective of this investment policy. Each investment transaction shall seek to avojd capilal losses from security defaults or erosion of market value. I I The City ~~il1 practice compe1 itjve bidding by telephone when purchasing an investment to help strengthen the investment process. All investments will be competitively bid via telephone solicatation and placed with vendors guaranteeing 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 of the City. The bids received for each investment will be documented on the INVESTMENT BID FORM (See Appendix "B"). A minimum of three uld~ will be required for each investment purchased. I I I Ie Actual risk uf default shall be minimized by adequate collaterallzation. Market risk shall be minimized by diversification. Diversification shall be directed towards investment instruments, fund types and security dealers. v. DIVERSIFICATION I A. ~~£~£l!!~~_Q~~l~£~_~Q£_~~Q~~ I Competitive bidding of all investments among securities dealers will assure diversification of funds and investments. The City shall seek to conduct its illvestment transactions with several competing, reputable jnve~tment security dealers and brokers to protect principal while achieving full 3dvantagc of the market. To assure diversification of financial institutions, business involving two party transactions (i.e. repurchase agreements. BA'a, and Commercial Paper) with anyone investment broker should be limited to thirty percent (30%) of 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 or other expenses. I I I I Ie I 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 gecurities Commissjon. ~ational Association of Security Dealers (NASD) and Securities and Exchange Commission (SEC). The Investment Committee shall evaluate the financial institutions I and broker/dealers I soundness to thf~ f~xtent they 6 I Ie I I I I I I I Ie I I I I I I Ie I I consider l1ccessarv. Invest.i.gation may include review of rating agency reports. review of call reports, and analysis of man age men l ~ p r c.) fit n b i .1 .i t y, cap ita 1 i z () t ion, and ass e t qua .1 i t Y . Financial institutions and broker/dealers with whom the City w i s he s toe 0 n due t bus i n e s s s h a 11 L) r 0 v j de l h e fin an cia 1 rl a t a requested by the City. The investment committee shall review the information and decide on thf~ soundness of a financial institution or broker/dealer before adding the institution to the 1 i s t 0 f tho 0 e ~,; i t h vJ horn the C i t Y c1 0 e s bus i n e SR. An institution must be approved by the Investment Committee and added to the approved list before any business can be transacted with the City. The investment committee shall also be able to limit the number of authorized secl1rities dealers/banks doing business with the City as required. A current list uf these securities dealers is included in Appendix "C". This list may be revised as the City's investment needs change. .\11 banks will be Federal Reserve member banks approved by the Investment Committee. No investments will be placed with savings and loan institutions. ~~£Y~£h~~~_~g££~m~n!~ will be done QnlY with primary dealers. See A.ppendix "D" for a listing of institutions included on the the Federal Reserve Bank of New York's list of primary government securities dealers. The master repurchase agreement of the Public Securities Association (PSA) shall be executed between the City and any primary dealer with which the City transacts repos. A sample PSA agreement with addendum is shown in Appendix "E". Regardless of reporting status, all securities purchased shall require same day delivery (on settlement date) to the City or its third party accounts on ä ..D\1P (delivery v~rSllS payment) l1asis. By so doing, City funds are not released until the City has received, through the Fcderal Reserve wire. the securities purchased. It is the policy of the City to diversify its investment portfolio so that reliance on anyone issuer or broker will not place an undue financial burden on the City. B. 1.!!.Y~~!!!!~!!!_.I~.E.~ Texas statutes authorize dcposjtorics and define allowable investment programs for municipal governments. The Texas City Depository Act (Article 2559-2599a, V.A.T.C.S.)and the Pub]ic Funds Investment Act of 1987 (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 obligations of the United States government and its agencies, fully collateralized direct repurchase agreements secured by obligations of the U.S. 7 I Ie I I I I I I I Ie I I I I I I Ie I I Government and its agencies, and certificates of deposit in fin a n cia 1 ins tit II t ion ~) m c e tin g t 11 e C ,1 t Y 's s tan d a r d s for credit tvorthiness. Market risk shall be minimized by d i v e r s i f i cat ion 0 f t n v est men t t Y pes , The f 0 1 1 0 ~~ .i n g 1: In .i t ~:;, b y instrument, are established for the City's total portfolio and ~;J .i 1 1 b e imp J ~~ men t. e d \" i t h ins i x m 0 nth s aft era d 0 P t ion 0 f t his revised investment policy. ( 1 ) Repurchase Agreements.... , ·10% ( 2 ) Certificates of Deposit.. .40'ó ( 3 ) u. S. Treasury Notes/Bonds/Bills... . 10 O?6 ( 4 ) u.s. Agencies........ .50% ( 5 ) Commercial paper...... .10% ( 6 ) Prime Domestic Banker's Acceptances. . . . . 1 0 ?c; To allow efficient nnd ~ffectivc placement of proceeds from bond sales, the limit on repurchase agreements may be exceeded for a maximum of five days following the receipt of hand proceeds. c. fQ!!.Q_IX.2~ State statutory provisions authorize specific investment instruments as categorized by three major fund types: (1) General operating fund, (2) Debt Service fund, and (3) Reserve fund (Chapter 8, Article 836, V.A.T.C.S.). I n v est men t s s h a 11 ref 1 e c t t: h e 0 b j e c t i v e 0 f the fun d for w h i c h they are made. In a pooled cash situation the proportional investments shall refJect "the fund type ratio of the poo]. This differentiation between funds is appropriate because of the objectives, rate of return requirements and risk tolerance of each fund type. Within the objectives of maximization on .investment volume and rate of return, the objectives of the funds must be insured. The objectives of each fund are based on purchasing power required by the fund, safety of principal, desired rate of return on investment t and long term stabili ty requirements. The longer the maturity of the securities. the g'reater the price volatility. Therefore, il is the Cjty'~: policy to concentrate -its jnvestment portfolio in shorter term securities in order to limit principal risk caused by changes in interest rates. Maturity guidelines by fund are as follows: (1) General Operating Funds The tve ig-h Lcd average days to m::t tur i ~y for the overall City P 0 r t f 0 1 i 0 Tn U S t b ~1 e s s t h a n 3 6 5 day S t e x c cpt for per m u n e n t fund balances. The Investment Committee wilì monitor the .. oJ I Ie I In a t u r i t y 1 eve 1 and m a k e c h a 11 ~~ e s a sap p r' f) P r" i. :,1 t f: . (2) Reserve Fund The i n v est In e n t S 0 f the I~ c s e r v e Fun d ~:; h a .~ 1 h ;j v e awe.i. g h t e d 3ver3~e days to maturity of 5 years or less. I (3) Debt ScrvicG Funds I No investment of a debt servic~ fund ê;ha11 have a maturity exceeding the 11ext principal and interest payment date, unless the account is fully funded. If fully funded, investments can be made to the next unfunded date. I V I . S A F EKE E P I ~~ G I The laws of the State of Texas and prudent treasury management require that all purchased securities shall be held in safekeeping oy either the City, a City account in a third party financial institution or the City's safekeeµillg account in its designated depository bank or in a Federal Reserve Bank, except for certificates of deposit that have FDIC insurance provided. For certificates of deposit with FDIC insurance the City will hold the deposit receipt. I I Ie Transfers of securities in safekeeping shall be processed with written confirmations. The confirmations 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 safekeepjng account. I 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. Sy so doing, City funds are not released until the City has received, through the Federal Reserve wire, the securities purchased. I I VII. COLLATERALIZATION I I 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 u.s. Government and its agencies. I Ie I I The City considers repurchase agreements as simultaneous sales and purchases of securities rather than as (~ollateralized loans. However. securities nndcr.lying repurchase agreements are referred to as "collateral" for the purpcrse of this policy. Certificates of deposit plus accrued interest upLo $100,000 per bank do not need to be collateralized pursuant to this policy as Ion gas F DIe ins u ran c e i s pro v ide d. Ace 0 r din g lot 11 e Pub J i c Fun d s Investment Act of 1987, Section 2(5), the City may invest in ~) I I. I I I I I I I Ie I I I I I I Ie I I certificates of deposit that are fully guaranteed by the Federal Deposit Insurance Corporation (FDIC). Acceptable forms of collatef'al include: (1) U. S. bonds and Treasury notes. (2) Certificates of indebtedness of the U.s. Government. ( 3) 0 the rev ide nee S 0 fin deb 1. e d n e S S 0 f the U. S. G 0 v ern men t w h i c h are guaranteed as to principal and interest by the u.s. Government. (4) Texas State bonds. (5) Bonds of Texas counties, cities, school districts and road districts. (6) Bonds issued under the Federal Farm Loan Act. (7) Securities eligible for discount at the Federal Reserve Banks or Federal Home Loan Banks. (8) Evidences of indebtedness of the Board of Regents of Texas. (9) Notes and bonds secured by mortgages issued by the Federal Housing Administration. Collateral is valued at curl'cnt mar'ket value plus interest accrued through the date of the valuation. Repurchase agreement collateral must be maintained at the following levels wjth respect to repurchase agreement par value plus accrued interest: U.s. Treasury -~~.£.!!l:.!!.!~~__ Other ~~.£.!!I.l!l.~~ 1 year or less. 101 % 101 0/ /0 1 year to 5 years. 102 0/ 102 % /0 Over 5 years. 103 % 104 0.... /Q Any collateral other than~U.S. Treasury Securities 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 Finance Director. or in his absence any member of the investment committee, 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 his/her 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 Jimit substitution and assess appropriate fees if substitutjon becomes f'XCcf;sive or ahusiv~. Collateral shall be audited at least annually by the City's 10 I Ie I I I I I I I Ie I I I I I I Ie I I independent audit firm. and may be audited by the City at any time during normal busjne~~s hours of the safekeeping party. The financial institutions with whom the City invests and/or maJntatns olhér depos.its ~;hall provjde, as requested by the City, a listing of the City's certificates of deposit and other depos.its at the institution and a listin~ of collateral pledged to the City marked to current market prices. The listing shall include total pledged securities with the foJlowing: 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 # 1335 Section (3) delegates the investment officers overall responsibilities to insure 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. VIII. INVESTMENT REPORTING Article 4413 (34c), section 4, V.A.T.C.S., requires the City's "Investment Officer to prepare a written report concerning the investment transactions for the preceding year and describing in detail the investment position as of the date of the report." City Ordinance #1335 section (4) also requires an annual report be presented to the governing body. An annual review of the investment policy wi.ll be conducted to determine if the policy is current with Texas Legislative changes, City Council investment philosophy, and staffing required to maintain adequate investment control. The Finance Oirector will prepare for the City Council at year end an annual report consisting of information for evaluating investment portfolio p~rformance. ^ quarterly report will also be prepared and will include the following information: - size of portfoljo. -- rat e 0 f r e t urn . - diversification of funds. - total sales, maturities, and purchases. accrued interest. This quarterly report should be used along with the annual report to fully evaluate and explain trends. The annual report will show on a fiscal year basis the results of the overall investment strategy. 11 I Ie I IX. PRUDENCE AND ETHICAL STANDARDS I The ~::t.andard of prudencp used by the CJty of :'!orth Richland HJlls ~; h all bet he" p r u den t per son r u 1 e" d n à s h all b e a P (J 1 i e din the {~O n t c x t n f man a g'j n G the () vcr a 1] po r t f 0 11 0 . T 11 e p r u d C 11 t per son rule is restated below: I Tn acqu.irlng, investing, reinvest-jng, exchangjng, i'etajujng, selling, and managing property for any trust heretofore or hereafter created, the City of North Richland Hills will exercise the judgment and care under the circumstances then prevailing which persons of prudence, discretion and intelligence exercise in regard to the permanent disposition of their funds, considering the probable income as well as the probable safety of their capital. I I It Is the City's policy that Investment Officers perform their duties in accordance with the policies and procedures set forth in this manual. Investment. Officers acting in good faith and in accordance with these policies and procedures shall be relieved of personal liability. I I Ie x. ARBITRAGE I The Tax Reform Act of 1986 provides limitations on the City's yield from investing tax-exempt General Obligation and Utility Bond proceeds and debt service funds. These new arbitrage rebate provisions require that the City compute earnings on investments from each issue of bonds on a 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 recordkeeping 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. I I I I I The City's investment position relative to the new arbitrage restrictions is to continue pursuing the maximum yield on applicable investments while ensuring the safety of capital and liquidity. It is a~fiscally sound position to continue maximization of yield and to rebate excess earnings, if necessary. Ie I I 12 I Ie I I I I I I I Ie I I I I I I Ie I I XI. DEPOSITORIES The Texas City Depository Act~ Article 2559 through 2566a. prescribes procedures for selection of a city depository designating thal both i~eneral-law and home--rule cJties are "authorized to receive applications (as depository) for the custody of city funds from any banking corpurat.ì.on, association, or i n d i v i d u a 1 ban k e r do i n g bus i n e ssw i t 11 i nth e c i t Y . It T his clause indicates that cities are not req\lired 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. This centralization 1s designed to maximize investment capabilities and minimize banking cost. The depository designation does not limit investment activity to one financial institution. The consideration the ctty of North Richland Hills will use to consummate a banking services contract will include: -- F u 11 s e r vie e cap a b j 11 tie s . - Submission of financial statements and availability schedules. Collateralization of the total Cjty funds on deposit in the bank. - Statement of staff experience and equal opportunity employment practices. --. Cost of banking services. 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.A.T.C.S.) and the services available to the ~ity. State law permits a contract period up to three years. The City's contract shall not exceed these 3 years with annual performance reviews by the Investment Committee. Special banking needs may be contracted for by the City outside this policy if approved by the Finance Director. If a depository does not meet the City's r'equirements in the banking services contract, the bank will be required to meet the requirements within six months or lose the depository contract.. 13 I Ie I I I I I I I Ie I I I I I I Ie I I Appendix "A" ORDINANCE 00. AN ORDINANCE OF THE CITY OF NORm RICHLAND HILLS, TEXAS PROVIDING FOR THE DESIGNATION OF AN INVES'IMENT OFFICER: PROVIDING FOR INVES'IMENT RULES: PROVIDING FOR MANAGEMENT REPORTS: PROVIDING A SEVERABILITY CLAUSE: AND DECLARING AN EMERGENCY 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 tappropriate officials, and to review the actual perfonnance at regular intervals; and WHEREAS, the Ci ty Council hereby intends to implement investrnent requirements set forth in Tex. Rev. Civ. Stat. Ann., Art. 4413 (34c), OOW, THEREFORE BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF NORm RICHLAND HILLS, TEXAS. Section 1. Investment Rules. That the following policies and guidelines be established as investrnent rules governing the investment of local funds: A. All City funds fran" various revenues sources shall be billed or equested as early as they are recognized, canputed, and detennined to be due to the City. B. Funds received by the Ci ty 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 imnediately to pay obligations shall be invested in in income-producing instrument or account. Section 2 · Investrnent Rate of Return. The Ci ty I s funds shall be invested in instruments or accounts that yield the highest possible rate of return that comply vli th the statutes of this state regulating investment of City funds. 14 I Ie I I I I I I I Ie I I I I I I Ie I I AppE?J1dix "A" Section 3. Designated Officials. '!he Ci ty Cotmcil hereby designates the "investment officers" to be the City Manager with overall responsibilities to insure that investment objectives are acccrnplished and the Finance/Treasurer Director with the specific day-to-day assignemnt of managing the l~al funds of the City of North Richland Hills. Section 4 . Management Reports. At least each year the investIœnt officers shall prepare a wri tten report conce:rning the Ci ty' s investIœnt transactions for the preceding year and escribing in detail the investment position of the City as of year end. The report shall be signed by both the City Manager and the Finance/Treasurer Director and presented to the City Council. Section 5 . Severability. Provisions of this ordinance shall be, and they are hereby, declared to be severable; and should any portion of it be declared to be invalid for any reason by a court of canpetent jurisdiction, such holding shall not affect the remaining portions thereof. PASSED AND APPROVED BY THE CITY CDUNCIL OF THE CITY OF NORm RICHLAND HILLS, TEXAS on this the 25th day of September, 1989. APPROVED : Mayor ATI'EST: City Secretary APPROVED AS TO FORM AND LEX;ALITY: City Attorney 15 I Ie I I I I I I I Ie I I I I I I Ie I I CITY OF NORTH RICHLAND HILLS INVESTMENT BID FORM Date of Bid / / ----- I ----- ---- Date of Trade ---- / ----- / ---- ( j f different) Amount to be Invested $ ------------~------- Required Maturity Date ____/____/____ Appendix "B" CALCULATED COLLATERAL IXf§--------I~~IIIQIlº~_____gß!~________Xl§1Q_______~§ÇQIE§Q_ ----- ----------- ------ ---------- - - - -- - ------------ ------ ---------- ----- ----------- ------ ---------- ----- ------------ ------ ---------- ----- ----------- ------ ---------- ----- ----------- ------- -- - - - - - - -- - - ----- ----------- ------ ---------- ----- ------------ ------ -- - - - - - - -- - - APPROVED_____________________ 16 ---------- -- - - -- - .- - - - - ---------- ------------ ---------- -~ - - - - - - - - - ---------- ----------- I Ie I I I I I I I Ie I I I I I I Ie I I CIT\~ OF NORTH RICHLAND HILLS AUTHORIZED SECURITIES DEALERS ~§fQßIIl§2_Q§ß1§E~ Drexel Burnham Lambert Government Securities, Inc. First Southwest Company Investment Bankers Goldman, Sachs, & Co. Liberty Capital Investment Bankers Merrill Lynch Government Securities, Inc. Prudential-Bache Securities, Inc. Shearson Lehman Government Securities, Inc. ~A~~1~Q_l~2IlIQIIQ~~ Bank of North Texas First City National Bank Haltom Bank Landmark Bank Liberty National Bank NCNB Texas National Bank Texas American Bank Texas Commerce Bank 17 Appendix ue" I Ie I I I I I I I Ie I I I I I I Ie I I LIST OF THE PRIMARY GOVERNMENT SECURITIES DEALERS REPORTING Appendix ItD' -TO THE MARKET REPORTS DIVISION OF THE FEDERAL RESERVE BANK OF NEW YORK Bank of America NT & SA Bankers Trust Company Bear, Stearns & Co., Inc. Carroll McEntee & McGinley Incorporated Chase Manhattan Capital Markets Corporation Chemical Bank Citibank, N.A. Continental Illinois National Bank and Trust Company of Chicago CRT ~overnment Securities, ltd. Daiwa Securities America Inc. Dean Hitter Reynolds Inc~ D1110n, Read & Co. Inc. Discount Corporation of New York Donaldson, Lufkin & Jenrette Securities Corporation Drexel Burnham lambert Government Securities Inc. The First Boston Corporation First National Bank of Chicago Goldman, Sachs & Co. Greenwich Capital Markets, Inc. Harrfs Government Securities Inc. Irving Securities, Inc. Kidder, Peabody & Co., Incorporated Kleinwort Benson Government Securities, Inc. Aubrey G. lanston & Co., Inc. , Lloyds Gcvcrnme~t Securit1S$ Corµorat1on Manufacturers Hanover Securities Corporation Merrill Lynch Government Securities Inc~ Midland Montagu Securities Inc. J. P. Morgan Securities, Inc. Morgan Stan1ey & Co. Incorporat.ed The Nikko Securities Co. International, Inc. Nomura Securities International, Inc. Paine Webber Incorporated Prudential-Bache Securities, Inc. L. F. Rothschild & Co. Salomon Brothers Inc. Sanwa-BGK Securities Co., l.P. Security Pacific National Bank Shearson Lehman Government Securities, Inc. Smith Barney, Harris Upham & Co., Inc. Thomson McKinnon Securities Inc. S'.G. Harburg & Co., Inc. ~ertheim Schroder & Co. Incorporated Westpac Pollock Government Securities, Inc. Yamaichi International (America), Inc. NOTE: This list has been compiled and"made available for statistical purposes only and has no significance ~ith respect to other relationships between dealers and the Federal Reserve Bank of New York. Qualifications for the reporting list is based on the achievement and maintenance of reasonable standards of activity. Market Reports Division Federal Reserve Bank of New York September· 29, 1988 18 . I Ie I I I I I I I I- I I I I I I I- I I Appendix "E" Public Securities Association 40 Broad Street. New ~rk, NY 10004-2373 Telephone (212) 809-7000 PSA MASTER REPURCHASE AGREEMENT Between: Dated as of -----t and 1. Applicability From time to time the parties hereto may enter into transactions In which one party ("Seller'1 agrees to transfer to the other ("8uyer") 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 govemed by this Agreement, Incfuding any supplemental terms or conditions contaJned in Annex I hereto, unless otherwise agreed in writing. 2. Definition. (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 properÍy, 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 Ad 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) '~dditional 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 li'ansaction 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 Deficåt", 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 generatly reccgnized source agr1,ød to by the parties or the most recent dosing 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): 2186 19 I (i) "Price Differential", with respect to any Transaction hereunder as of any date, the aggregate ¡mtOUrlt obtained by daily application of the Pricing Rate for such Transaction to the Purchase Price for I Such lransaction on a 360 day per year basis for the actual number of days during the period commencing . (and including) the Purchase Date for such lransaction and ending on (but excluding) the date of éfetermination (reduced by any amount of such Price Differential previously paid by Seller to Buyer with respect to such lransadion); · ü) "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 Will 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 Securiti ~ are transferred by Seller to Buyer, and (ii) thereafter. such price increased by the amount of any Casii 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 dause (ii) of Paragraph 5 hereof; (n) "Purchased Securities", the Securities transferred by Seller to Buyer in a lransaction 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 retumed 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 ~IIer 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 detennination. increased by any amount detennined by the application of the provisions of Paragraph 11 hereof; I (q) "Seller's Margin Amount", with respect to any Transacüon 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 1_1to the Transaction, to the Repurchase Price for such Transaction as of such date. 3. Initiation; Confirmation; Termination (a) An agreement to enter into a li"ansaction may be made orally or in writing at the initiation of either Buyer or Seller. On the Purchase Date for the Transaction, the Purchased SeaJrities 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 prompUy 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 tenninabfe on demand. [IV) the Pricing Rate or Repurchase Price applicable to the Transaction, and (v) any additional terms or conditions of the lransaction 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 prompUy after receipt thereof. In the _ event of any conflict between the terms of such C<?nfirmation 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 pr:.eviously credited or transferred to, or applied to the obligations of, Seller pursuant to paragraph 5 hereof) against the transfer of the Repurchase I ' Price to an account of Buyer. - 4. Margin Maintenance I (a) If at any time the aggregate Market Value of all Purchased Securities subject to alllransactions 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 I Transactions, at Seller's option, to transfer to Buyer cash or additional. Securities reasonably acceptable I I I I I I I I I I I I 20 Appendix "En I Ie I I I I I I I I~ I I I I I I I- I I Appendix liE" to Buyer ('i\dditionaJ Purchased SeaJrities'1. SO that the cash and aggregate Market VdJue of the Purchased Securities, induding any such Additional Purd1ased Securities, will thereupon equal or exceed such aggregate Buyer's Margin Amount (decreased bY the amount of any Margin Deficit as of such date arising from any Transadions 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 Setler exceeds the aggregate Seller's Margin Amount for all such li"ansactions 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 li"ansactions as shall be agreed upon by Buyer and Seller. (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 ðnd 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 li"ansaction, 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 aJllransactions 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) shall 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. 8. Segregation of Purchased Securities 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 Setler, nothing in this Agreement shall preclude Buyer from engaging in repurchase transadions 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,: 2t I I I 9, Substitution . .Seller may, subject to agreement with and acceptance by Buyer, substitute other Securities for any I PurChased 5eaJrities. Such substitution shall bè made by transfer to the Buyer of such other Securities Aanainst simultaneous transfer to the Seller of such Pun::hased Securities. After SUbstitution, the substituted -Securities shaD be deemed to be Purchased Securities. , 10. Representations Each of Buyer and Seller represents and warrants to the other1hat (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 behatf (or on behatf of any such disclosed principal), (iv) it has obtained all authorizations of any govemmental body required in connection with this Agreement and the Transactions hereunder and such authorizations are in fuD 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, flV) 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 I 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 shaJl be deemed to have been exercised, even if no notice is given. inmeciateIy upon the occurrence I ~f an Iv::J. of Insolvency), the Aepun:hase Date for each Transaction hereunder shall be deemed immediately to 0CaJr: . (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 obflQ8tions hereunder to repurchase all Purchased Securities in such Transactions shall thereupon become immediately due and payable, (ii) to the extent permitted by appftcable law, the Repurchase Price with respect to each such Transaction shall 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 1Ï'ansaction as of the Repurchase Date as detennined 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 dause (iii) of this subparagraph, (B) any proceeds from the sale 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 the date of the Event of Default giving rise to such option to the date of payment of the Repurchase Price as so increased, (iii) aJllncome 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 aJl1Ï'ansactions in whiá1 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 Transaction shall be deemed transferred to the nondefaulting party, and the defaulting party shaJl deliver~ all such Purchased Securities to the nondefaulting party. I (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 ~aragraph or the notice referred to in clause (ii) of the first sentence of this Paragraph), the nondefaulting party may: (i) as to 1Ï'ansactions 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 I I I I I I . Appendix liE" I I I I I I I I- I I I, I I I I la I I I I I I Ie I I Appendix liE" 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 reêognized 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 liabte 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 Transadion 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 that, all Transactions hereunder constitute a single business and contractuaJ relationship and have been made in considera1ion 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 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 communication is to be given hereunder, all such notices or communications shall be in writing or confinned in writing and delivered at the respective addresses set forth in Annex II 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 pròvision or agreement herein and shall be enforceable notwithstanding the unenforceability of any such other provision or agreement. r 15. Non-assignability; Termination The rights and obligations of the parties under this Agreement and under any li"ansaction 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. 23 I I I I I I I I- I I 16. Governing Law Appendix · ""ñis Agreement shafl be governed by the laws ,of the State of New York without giving effect to the I ~nflid of Jaw principles thereof. "17. No Waivers, Ete. 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 shafl constitute a waiver of its right to exercise any other remedy hereunder. No modificatioh or waiver of any provision of this Agreement and no consent by any party to a departure herefrom shall be effective unless and until such shafl 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 wi;! not constitute a waiver of any right to do so at a later date. 18. Use of Employee Plan ASsets (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Ad of 1974 ('·ERISA") are intended to be used by either party hereto (the "Plan Party'1 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 Transadion 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 Transadion pursuant to this paragraph, Seller shafl 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 financiaf 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 Transaction is a "repurchase agreement" as that tenn is defined I"-in Section 1 01 (39) 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 contrad" as that term is defined in Section 741 (7) of Title 11 of the United States Code, as él~ended. (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. .,. JAE" 1 I I I I I I [Name of Party] [Name of Party) By By Title Title Date Date 24 I I" I I BONDS-COUNTY, MUNICIPAL. ETC. Title 22 Art. 842a-2. Public Funds Investment Act Short Title Sec. 1. This Act may be cited as the Public Funds Investment :Act of 1987. Art. 842a-2 I Authorized Inyestments Sec. 2. (a) An incorporated city or town, a county, a public school district, an institution of higher education as defined by Section 61.003 of the Education Code, or any nonprofit corporation acting on behalf of any of those entities may, in accordance with this Act, purchase, sell, and invest its funds and funds under i~ control in the following: (1) obligations of the United States or its agencies and instrumentalities; (2) direct obligations of the State of Texas or its agencies;' (3) other obligations, the principal of and interest on which are unconditionally guaran- teed or insured by the State of Texas or the United States; (4) obligations of states, agencies, counties, cities, and other political subdivisions of any slate having been rated as to investment quality by a nationady recognized invest- ment rating firm and having received a rating of not less than A or its equivalent; (5) certificates of deposit issued by state and national banks domiciled in this state that are: (A) guaranteed or insured by the Federal Deposit Insurance Corporation, or its succes- sor; or, . (B) secured by obligations that are described by Subdivisions' (lH 4) of this subsection, which are intended to include all direct agency or instrumentality issued mortgage backed securities rated AAA by a nationally recognized rating agency, or by Chapter 726, Acts of the: .67th Legislature, Regular Session, 1981 (Article 2529b-I, Vernon's Texas Civil Statutes), and that have a market value of not less than the principal amount of the certificates; and - (6) fully collateralized direct repurchase agreements having a defined termination date, secured by obligations described by Subdivision (1) of this subsection, pledged with a third party selected or approved by the political entity, and placed through a primary govern- ment securities dealer, as defined by the Federal Reserve, or a bank domiciled in this state. - (b) In addition to investment in obligations, certificates, or agreements described in Subsection (a) of this section, bond proceeds of an incorporated city or town, a county, or a public school district, or local revenue of an institution of higher education, may be invested in common trust funds or comparable investment devices owned or administered by banks domiciled in this state and whose assets consist exclusively of all or a combination of the obligations described by Subdivisions (1H4) and (6) of Subsection (a) of this section. Common trust funds of banks domiciled in this state may be used if they: (1) are available; (2) comply with thf provisions of the Tax Reform Act of 1986 and applicable federal regulations governing the investment of bond proceeds; and (3) meet the cash flow requir~ments and the investment needs of the political subdivi. sion or institution. (c) In this section: (1) "Bond proceeds" includes but is not limited to proceeds from the sale of bonds and re~t!rves and funds maintained for debt service purposes. (2) "Repurchase agreement" means a simultaneous agreement to buy, hold for a specified time. and th~n sell back at a future date, obligations described by Subsection (a)(1) of this section, the principal and interest of which nre guaranteed by the United Stales or any of its ag~ncies. in market value of not less than the principal amount of the funds disbursed. I I I I 14Þ I I I I I I I ~ I I 25 Appendix IIF" I Ie. I Appendix "Fit Art. 842a-2 BONDS-COUNTY, ltIUNICIPAL. ETC. Title 2% I Bid. Sec. 3. (a) Investments under Section 2(b) of this Act may be made only after competitive bids are solicited from at least three banks as provided by this section. The bids may be soliciteci orally. (b) All incorporated city or town or a public school district must attempt to solicit. bids initially from banks located within its boundaries. If there are not. three banks available for the investments within the city's, town's, or public school district's boundaries, the city, town, or public school district may solicit bids from banks located within the county or counties in which the city, town, or public school district. is located in addition to those banks, if any, that are located within the boundaries of. the cit.y, town, or public: school district. 1C there are not three banks available for the investments within the boundaries o( the city, town, or public school district, or of the county or counties in which it. is located, the city, town, or public school district may solicit bids (rom ¿ny bank within the state in addition to those banks, if any, that are located within the boundaries of the city, town, public school district, county. or counties. (c) A county must attempt to solicit bids initially from banks located within its boundaries. If there are not three banks available for the investments within the county, the county may solicit bids from any bank within the state in addition to those banks, if any, th:lt :lre located \vithin the boundaries of the county. (d) An institution o( higher education as defined by Section 61.003 o( the Education Coù~ must solicit bids from at least three banks located within the state. (e) A nonprofit corporation acting on behalf of an incorporated city or town, a county, a public school district, or an institution o( higher education as defined by Section 61.00:1 of the Education Code shall follow the procedures identified in Subsection (b), (c), or (d) of this section, as applicable to the entity on behalf of which the nonprofit corporation is acting. (f) If a bank has notified a governmental entity or nonprofit corporation that it is unable or unwilling to bid for investments under Section 2(b) of this Act, the governmen- tal entity or nonprofit corporation that receives the notification may presume that the bank is unable or unwilli"g to bid for the investments until the bank notifies the governmental entity or nonprofit cotporation otherwise in writing. Standard or Core Sec-A. Tnv('stments shall be made with judgment and care, under circumstances then prevailinlt, th:lt persons of prudence, discretion, and inteJlil!ence exercise in the manage- ment of their own affairs, not for speculation, but for investment, considering the probable safety oC their capital as well as the probable income to be derived. I I I I I I· I I I I \\"ritten Policiea Sec. 5. Investments shall be made in accordance with written policies approved b}· the Koverninl! bod)'. The investment policies must address liquidity, diver!\ific:ltion, safety of principal, yil!ld. maturity, and quality and capability of im'estment management, with primary ~n1pha$i~ on safet~· and liquidily. I Nonupplicatiun tn n~tir~m~nt Fund~ Sec. G. This Act does not apply to the in\'estment of funds under the control of a public retir~ment system, as defined by Section 12.001(2), TiLle lIOn, Revised ~t.:1tutes. I I\uthnrit~· is ,\s;tditionul Sec. 7. The authority gr.mtcd 1.1)' this Act is ï"n addition to that granted by other law. Acts 1!)M7. 70th Lcl(.. th. ~~9. §§ 1 to 7. l'C!. AUJ:. ~1. 1~~7. Ie. I T¡tI~ ur Act: An Act rt'13tin~ to th~ in\·t'slmcnt o! l)ubJic lunùs. Ac~ 19H7. iOlh Leg.. th. 889. Cros!I n~rere'n(,~:I Colle~e 3nd univ~r5ily funds. in\·t!stment ac. cordin~ to this act. :)c~ V.T.C.A. ElIu\."ation Code, § 51.00~(b). I 26 '':" - ","'""', "y-w ' , "'.,' ~'-,' " " , ~ -',- \_>':'l ~ ---_<~:" -, -"._~ -" '. II I I I I I I I I I I I I I I I ~j,1 ;~;' I ~il CITY OF NORTH RICHLAND HILLS ,Department: Administration 9/25/89 Council Meeting Date: GN 89-121 Agenda Number: Subject: Appointments to Board of Adjustment Consistent with the City Council policy regarding appointments to boards and commissions, nominations have been made to the Board of Adjustment as follows: COUNCIL PLACE 1 3 5 (Alternate) 6 7- NOMINEE EXPIRATION OF TERM Ron Hubbard Tommy Duer Richard Lawson Robert Skinner 8i l1y Cypert September 15, 1991 September 15, 1991 September 15, 1991 September 15, 1990 September 15, 1991 Recommendation: It is recommended that the City Council make appointments to the Board of Adjustments. .: "- Source of Funds: Bonds (GO/Rev.) Operating Budget Ot er - Finance Review Acct. Number Sufficient Funds Available ((I¡Z~ Department Head Signature City anager CITY COUNCIL ACTION ITEM . Finance Director Page 1 of ¡~- -, .(.f ,.,. -". .~'. _';.v ;';'_':"c.\':-,;--,-;~'__"-~j_,,,,-> _,*'''-, I I I I I I I I I I I I \1 ~"I ~\I ":JI ¿I ';,1 ~I CITY OF NORTH RICHLAND HILLS Department: Administration 9/25/89 Council Meeting Date: GN 89-122 Agenda Number: Subject: Appointments to Board of Appeals Consistent with the City Council policy regarding appointments to boards and commissions, nominations have been made to the Board of Appeals as follows: COUNCIL PLACE NOMINEE EXPIRATION OF TERM - 1 3 (Alternate) 5 6 7 (Alternate) Orville Baker Michael Dean John Larriviere Harold Schubert Michael Augustin September 15, 1991 September 15, 1991 September 15, 1991 September 15, 1990 September 15, 1991 Recommendation: It is recommended that the City Council make appointments to the Board of Appeals. Finance Review Source of Funds: Acct. Number Bonds (GO/Rev.) Sufficient Funds Available Operating Budget Other _ aJæ¿¿¿d; ¿-('~I/ .J\~~ ¡¡ -- , Department Head Signature City Manager , CITY COUNCIL ACTION ITEM , Finance Director Page 1 of 1 :' ~-;~'~"~' .ç:::;:o::-~--~-~ -',' ~-- -' ..' '-'> :,1 , . \"'",' . ''I .. '. "r" ~' '. '. ·1~. 'or ..' ','J'.:-':'~ ','" '. '<, ,., ,,'.., F'c" ., II I I I I I I I I I I I I I I I CITY OF NORTH RICHLAND HILLS Administration 9/25/89 Department: Council Meeting Date: Appointments to Cable Television Board GN 89-123 Subject: Agenda Number: Consistent with the City Council policy regarding appointments to boards and commissions, nominations have been made to the Cable TV Board as follows: COUNCIL PLACE NOMINEE EXPIRATION OF TERM - 1 Roger Olson September 15, 1991 3 Wayne Moody September 15, 1991 5 Lynn Darnold September 15, 1991 7 E.O. Jackson September 15, 1991 Recommendation: It is recommended that the City Council make appointments to the Cable TV Board. Source of Funds: Bonds (GO/Rev.) Operating Budget er Finance Review Acct. Number Sufficient Funds Available ~I .......,.....,.j..................·...·:...'....·..c·.1 ¿i , Finance Director !J ) f2ttL-P~ Department Head Signature I b17;Manager CITY COUNCIL ACTION ITEM ~? Page 1 of 1 -~·-:--_··-ft~:·-,~",- '''~f:''! ,';_~ ~'.:",_...-( ~-,l: ~~ - '. I- I I I I I I I I I I I I ~:I I :1 il I J CITY OF NORTH RICHLAND HILLS Administration 9/25/89 Department: Council Meeting Date: Appointments to Capital Improvement Advisory Committee GN 89-124 Subject: Agenda Number: Consistent with the City Council policy regarding appointments to boards and commissions, nominations have been made to the Capital Improvement Advisory Committee as follows: COUNCIL PLACE NOMINEE EXPIRATION OF TERM 1 Mark Wood September 1 , 1991 3 Don Bowen September 1 , 1991 5 Don Collins September 1 , 1991 7 Ron Lueck September 1 , 1991 Recommendation: It is recommended that the City Council make appointments to the Capital Improvement Advisory Committee. Finance Review Source of Funds: Acct. Number Bonds (GO/Rev.) Sufficient Funds Available Operating Budget Other ~ (Yø -d-U £~ ~~Ù:" ~ '- t(1t ~;r- /vV\.i -; U Department Head Signature f City Manager CITY COUNCIL ACTION ITEM , Finance Director Page 1 of 1 I I I I I I I I I I I I I I I \1 ::1 I ,hi '" CITY OF NORTH RICHLAND HILLS Administration 9/25/89 Department: Council Meeting Date: Appointments to Civil Service Commission GN 89-125 Subject: Agenda Number: Consistent with the City Council policy regarding appointments to boards and commissions, nominations have been made to the Civil Service Commission as follows: COUNCIL PLACE NOMINEE EXPIRATION OF TERM 1 Garr,y Cope October 1 , 1991 4 George Pederson October 1 , 1990 5 Bernard Roux October 1 , 1991 6 (Alternate) Afran Jabri October 1 , 1990 7 Bob Roark October 1 , 1990 Recommendation: It is recommended that the City Council make appointments to the Civil Service Commission. Finance Review Source of Funds: Acct. Number Bonds (GO/Rev.) Sufficient Funds Available Operating Budget /7 Other _ /; '! c; &~-¿~ar¿;~~~:d~ignature )(t~i'f~~r CITY COUNCIL ACTION ITEM . Finance Director Page 1 of 1 I I I I I I I I I I I I I I I I t~,1 ~I ~I CITY OF NORTH RICHLAND HILLS Administration 9/25/89 Department: Council Meeting Date: Appointments to Library Board GN 89-126 Subject: Agenda Number: Consistent with the City Council policy regarding appointments to boards and commissions, nominations have been made to the Library Board as follows: COUNCIL PLACE NOMINEE EXPIRATION OF TERM - 1 Polly Brinkley September 15, 1991 3 Jay Bradshaw September 15, 1991 4 Roxie Hamilton September 15, 1990 5 Clyde Zellers September 15, 1991 7 Kay Schmidt September 15, 1991 Recommendation: It is recommended that the City Council make appointments to the Library Board. Source of Funds: Bonds (GO/Rev.) Operating Budget Other Finance Review Acct. Number Sufficient Funds Available R ((,7~wV Department Head Signature / City Manager CITY COUNCIL ACTION ITEM , Finance Director Page 1 of 1 I CITY OF NORTH RICHLAND HILLS I.epartment: 9/25/89 Council Meeting Date: Appointments to Park and Recreation Board GN 89-127 Subject: Agenda Number: Consistent with the City Council policy regarding appointments to boards and commissions, nominations have been made to the Parks and Recreation Board as follows: Administration I I I I I I I I I I I I I I I I I COUNCIL PLACE NOMINEE EXPIRATION OF TERM 1 Ron Parks September 15, 1991 3 Robert Fenimore September 15, 1991 5 Oscar Trevino September 15, 1991 7 Sharon Battles September 15, 1991 Alternate Karen Allen September 15, 1991 Recommendation: It is recommended that the City Council make appointments to the Park and Recreation Board. Source of Funds: Bonds (GO/Rev.) Operating Budget Other Finance Review Acct. Number Sufficient Funds Available (Ul(I~~ Department Head Signature ' Citý Manager CITY COUNCIL ACTION ITEM I Finance Director Page 1 of 1 " \'" I I I I I I I I I I I I I I I I I I ;1 CITY OF NORTH RICHLAND HILLS Department: Administration 9/25/89 Council Meeting Date: Appointments to Planning & Zoning Commission GN 89-128 Subject: Agenda Number: Consistent with the City Council policy regarding appointments to boards and commissions, nominations have been made to the Planning & Zoning Commission as follows: COUNCIL PLACE NOMINEE EXPIRATION OF TERM - 1 Mark Wood September 1 , 1991 3 Don Bowen September 1 , 1991 5 Don Collins September 1 , 1991 7 Ron Lueck September 1 , 1991 Recommendation: It is recommended that the City Council make appointments to the Planning and Zoning Commission. Source of Funds: Bonds (GO/Rev.) Operating Budget er Finance Review Acct. Number Sufficient Funds Available « ¡¡;. ú-L '--wl-- ) Department Head Signature CITY COUNCIL ACTION ITEM /c I(.t/~~~ r City Manager Finance Director Page 1 of 1 I I I I I I I I I I I I I I I I I I I CITY OF NORTH RICHLAND HILLS Administration 9/25/89 epartment: Council Meeting Date: Appointments to Teen Court Advisory Board GN 89-129 Subject: Agenda Number: Consistent with the City Council policy regarding appointments to boards and commissions, nominations have been made to the Teen Court Advisory Board as follows: COUNCIL PLACE NOMINEE EXPIRATION OF TERM - 1 Anthony Scoma October 1 , 1990 2 Dennis Horvath October 1 , 1990 3 Becky Sutton October 1 , 1991 4 Cindy Martin October 1 , 1990 5 Michael Fritz October 1 , 1991 6 Ben Shilcutt October 1 , 1990 7 Teresa Lucas October 1 , 1991 Recommendation: It is recommended that the City Council make appointments to the Teen Court Advisory Boa rd . Finance Review Source of Funds: Acct. Number Bonds (GO/Rev.) Sufficient Funds Available Operating Budget Other - f ' . ' b" · a7a~~¿;t$; ¿~ I __Jl( "r/t~ r' Department Head Signature I CltÝ Manager v' CITY COUNCIL ACTION ITEM I Finance Director Page 1 of 1 I I I 'I I 'I I I I I I I I I 'I I I I I CITY OF NORTH RICHLAND HILLS Department: Administration 9/15/89 Council Meeting Date: GN 89-130 Agenda Number: Subject: Appointment to Beautification Commission Mr. Arfan Jabri is recommended to be appointed to the Civil Service Commission (GN 89-125). If the ôppointment is approvpd there will be a vacancy on the Beautification Commission. Ms. Brenda Sralla has been recommended to fill Place 6 on the Beautification Commission. Recommendation: It is recommended that the City Council make appointment to the Beautification Commission. Finance Review Source of Funds: Bonds (GO/Rev.) Operating Budget Ûr -:;r-- ( , \. .æ C:-7'!/~ I¿C¿¿ê<2/ II Department Head Signature v CITY COUNCIL ACTION ITEM Acct. Number Sufficient Funds Available / L/ /é./ {t. ' /(.~ I City Manager , Finance Director Page 1 of 1 I I I I I I I I I 4 Department: CITY OF NORTH RICHLAND HILLS Public Wbrks/Utilities 9/25/89 Council Meeting Date: Ratify the Purchase of Boring Machine Subject: Agenda Number: PU 89-19 As authorized by Council approval of GN 89-109 at the September 11, 1989 regular rœeting, we have proceeded with purchasing a boring ma.chine. Our specifications for a boring machine are as follows: 1. Lightweight & portable for ease of transporting it back and forth to the job site. 2 . Drill through all soil types and rock. 3. Bore "on grade" accurately for sanitary se\Ver services, etc. 4 . Machine operates while at ground level, not in the trench. The only boring machine we are aware of that meets these requirerœnts is "PORI'A-M)LE". The PORTA-MOLE BORING SYSTEM is only sold by Carlton International Manufacturing Corporation located in Hurst, Texas and is therefore a "sole source" product. Recœmendation: The staff requests the Council ratify the purchase of the PORI'A-~LE UTILITY BORING SYSTEM (M)DEL A-20, 8 horsepower) for $8,995 fran Carlton International Manufacturing Corporation, Hurst, Texas. I I I I I I I I I Finance Review Source of Funds: Bonds (GO/Rev.) Operating udget Other 02-11-02-6150 x Acct. Number Sufficient Funds Availabl ~~1~ ~.~¿'~Flnance Director ead Signature CITY COUNCIL ACTION ITEM Pa e 1 of 1 I ~ ., I~ I I I I I I I f' I I I I I I I- I I City of J(õrth Richland Hills~ Texas 'i~ Sept~ber 15, 1989 REF: Pt+1-089-89 Memo to: Honorable Mayor and Ci ty Council From: Gregory W. Dickens Director of Public Works/Utilities Subject: Boring Machine Purchase The City Manager has authorized the purchase of a lightweight, high s¡;:eed rotary boring machine with an aiming device. This purchase was authorized on an emergency basis in an amount of $8,995. The citizen who appeared before the Council at the last Council meeting cannot use the sanitary facili ties in her house until the City has bored under the street to reconnect her sewer system. Investigations reveal that this is a "single source" item due to the patented aiming device. This is the only lightweight machine wi th an aiming device which will meet our needs. The Council will be asked to ratify this purchase at the next regular Council rœeting. (817) 281.Q041"301 N.E. LOOP 8201P.O. BOX 18809/NORTH RICHlAND HillS, TX 78180 I CITY OF NORTH RICHLAND HILLS .partment: Budget ~ Council Meeting Date: 9/25/89 Subject: Award of Bid to *Physio-Control Corporation For Agenda Number: PU 89- 20 Defibrillator/Monitors Finance Review Source of Funds: Acct. Number 01-90-03-6400 . Bonds (GO/Rev.) , ._ Sufficient Fu&ailable Operating Budget___ . ------1L- ~ ~/fßYf4J ?)¡~LI/ (j ¡¡¡fl,~~liif~ Department Head Signature ~..1JûjJ dty Manager CITY COUNCIL ACTION ITEM . I We recently became aware of a situation in our emergency ambulance service that needs to be corrected. North Richland Hills has one defibrillator/monitor which is not 100% efficient and a borrowed unit from North Hills Hospital. The unit from the hospital had to be returned which leaves our City with less than adequate emergency service. The purchase of two additional Defibrillator/Monitors are required in order to: 1) replace an outdated unit and 2) to equip the second ambulance. Bids were solicited from six vendors, however only three responded. Of the responses, Physio-Control Corp. was the only vendor which was submitted a bid. The results are indicated below: Dyna Med Counts Medical *Physio-Control Corp. No Bid No Bid $23,981.22 Based on discussions with the vendors, it appears that *Physio-Control is the sole source for the highly technical piece of equipment which was outlined in our specifications. Recommendation: It is recommended that City Council award the bid to *Physio-Control Corp. for the purchase of two~Difibrillator/Monitors in the amount of $23,981.22. , Finance Director Page 1 of 1 I CITY OF NORTH RICHLAND HILLS I_epartment: Budg~t ~ Council Meeting Date: 9/25/89 Subject: Award of Office Supply Contract to *Boise Cascade Agenda Number: PU 89- 21 Annually, the City solicits bids for the purchase of office supplies. These items include an undefined quantity of pens, pencils, staples, memo pads, folders, etc. As the specific items and quantities vary from year to year, the bids are solicited in terms of a specific percentage discount off the vendor's list price. The bids received are as follows: Vendor Amount of Discount off List Central Office Supply Did not meet bid specifications Miller Business Systems Royer & Schutts *Boise Cascade 46% 47% 47% I- I I I I I I I . I I In order to evaluate the bids received, twenty of the more commonly ordered items were selected as a test group. The cost of each item was calculated based on the vendor's catalog list price less the appropriate discount. The results are as follows: Miller Business Systems" $92.97 Royer & Schutts 87.69 *Boise Cascade 78.49 Other items of consideration include payment terms, delivery schedule, packaging and invoicing procedures. In each of these areas, Boise Cascade met the required specifications. Recommendation: It is recommended that the annual contract for the purchase of office supplies be awarded to *Boise Cascade. Finance Review Source of Funds: Bonds (GO/Rev.) Operating Budget ----X.--. Othrf\_ ( \«. J é) /J Department Head Signature CITY COUNCIL ACTION ITEM ~Q¡:.,a .... or ~ ~ . Finance Director Page 1 of I CITY OF J NORTH RICHLAND HILLS I ~epartment: Budget ~ Council Meeting Date: 9L25L89 .J ~ Award of Bid for Kitchen Equipment to I Subject: Allied Food Service and Gernsbacher 1 s Agenda Number: PU 89-22 As discussed at the March 27, 1989 City Council Meeting, the kitchen appliances which are currently installed in the Detention Services area are the quality which are used in households. This equipment should be commercial quality in order to withstand the constant usage which is demanded of them. City Council approved the appropriation of funds specifically for upgrading the kitchen equipment to commercial quality at the March 27, 1989 meeting. Bids were solicited as required and the results are noted: - Allied Food Watson Food Service Gernsbacher's Service ----------- ------------- ----------- Convection Oven $3,505 * $3,915 $3,663 Disposer 760 * 1,238 1,196 Sink 663 * # 1,160 utility Table 382 * 472 385 Washing Machine 5,295 * 6,420 @ Dryer 2,525 * 3,207 @ Exha'ust System 4,805 3,845 * # Ice Machine & Bin 1,618 * 1,950 2,673 Dishwasher 3,982 * 4,241 4,098 # Vendor did not meet minimum bid specifications. @ Vendor did not bid on this item. I As indicated by the * abov~, Allied is the lowest bid for all items except the exhaust system which was offered at a lower price by Gernsbacher's. It should be noted that the prices do not include installation. The units will be installed during Fiscal Year 1989-90. Additional funds are not required. Reconunendation: It is recommended that the bid for kitchen equipment excluding the exhaust system be awarded to Allied Food Service in the amount of $18,730; and the exhaust system be awarded to Gernsbacher's in the amount of $3,845. Finance Review Acct. Number 01-80-07-6400 su, :cie~s Available ~ ~~~ ~. KI(AJ~ City Manager x - . Finance Director CITY COUNCIL ACTION ITEM Page 1 of 1 I II.epartment: Subject: I I I I I I I I I I I I I I I I I - CITY OF NORTH RICHLAND HILLS Management Services 9/25/89 Council Meeting Date: Approval of Replacement of Thirty Ton Air Conditioning PU 89-23 Agenda Number: System for City Hall on an Emergency Basis The existing system is fifteen years of age and over the past several years has been repaired numerous time at a cost of $5,000. On September 18, 1989, the system failed completely. Inspection of the system showed a broken main fan shaft and blown heads on compressors. The estimated cost to repair the existing unit is $10,000 with no guarantees. The cost to replace the system with a new high efficency system is $28,850. This system services all of the front area of the old portion of City Hall with the exception being the Administration area. Due to the emergency need for replacement of the system, a new unit was ordered on September 19, 1989. FUNDING SOURCE: The allocation of cost is proposed from both the General and Utility Funds based on the areas serviced by the air conditioning system. General Fund Portion: Funding is proposed with a transfer from the City council's Reserve for contigency (01-99-01-5970) to Building Maintenance (01-99-01-5960) in the amount of $21,638. Utility Fund Portion: The balance is proposed with funds avajlable in the Utility Billing Capital account (02-20-01-6200) in the amount of $7,212. RECOMMENDATION: City Staff recommends City Council ratify replacement of the thirty ton system on an emergency basis at a cost of $28,850. Source of Funds: Bonds (GO/Rev.) Operating Budget Other Finance Review Acct. Number As noted above. .ufficient Funds Available x (I.-Z::~¡/ ~~ . Finance DIrector rtment Head Signature CITY COUNCIL ACTION ITEM Page 1 of 1 I I ~ tþepartment: ~ Subject: ~ ~ I I CITY OF NORTH RICHLAND HILLS Economic Development 9/25/89 Approval of Final Payment to Bruce Company Council Meeting Date: PAY 89-07 Agenda Number: for Dirt Work on Iron Horse Golf Course The final payment in the amount of $121,503.24, including the payment of all retainages, to the Bruce Company for the completion of the dirt work contract at Iron Horse Golf Course is presented for City Council consideration. This billing has been reviewed and approved by City Staff, Recreational Services, Ltd. and golf course architect Dick Phelps. Original Contract Amount Approved Change Orders $681,630.80 34,469.31 TOTAL $716,100.11 Total Paid To Date Total Paid This Payment $594,596.87 121,503.24 TOTAL $716,100.11 I Ie I I I RECOMMENDATION: It is recommended by City Staff and Recreational Services Ltd. that the final payment to The Bruce Company, in the amount of $121,503.24, be approved. I I Source of Funds: _ Bonds (GO/Rev.) - Operating Budget Other , ,_ 4£ ' ~~ { uV- ( epar' ent Head Signature CITY COUNCIL ACTION ITEM Finance Review Acct. Number Sufficient Funds Available I . I..' I L,v ¿ ( , \ ( '~ / . ,~/t L .... '- ;; Lo¿ "- ICity Manager . Finance Director I Page 1 of 1