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HomeMy WebLinkAbout2011.11.01 City Council AgendaCITYOFUNIVERSITYPARK REGULARCITYCOUNCILMEETING LOCATION:CITYHALLCOUNCILCHAMBER AGENDA#2824 NOVEMBER1,2011 CALLTOORDER:5:00P.M. 3:00-4:00P.M.REPORT:TheCityCouncilwillreceiveabriefingontheCity'sretirementplan fromDirectorofFinanceKentAustinandCityControllerTomTvardzik.Council ConferenceRoom,secondfloor,CityHall. 4:00-5:00P.M.WORKSESSIONFORAGENDAREVIEW:CouncilConferenceRoom,second floor,CityHall TOSPEAKONANAGENDAITEM AnyonewishingtoaddresstheCouncilonanyitemmustfilloutagreen“RequesttoSpeak”formand returnittotheCitySecretary.WhencalledforwardbytheMayor,beforebeginning theirremarks,speakers areaskedtogotothepodiumandstatetheirnameandaddressfortherecord. I.CALLTOORDER A.INVOCATION:CouncilmemberBobBegert B.PLEDGEOFALLEGIANCE:CouncilmemberBobBegert/BoyScouts C.INTRODUCTIONOFCOUNCIL:MayorW.RichardDavis D.INTRODUCTIONOFSTAFF:CityManagerBobLivingston II.CONSENTAGENDA A.REPORT:InvestmentreportforquarterendedSeptember30,2011 - Austin Pg 3 B.CONSIDERANDACT:onarequestbySMUKappaAlphaThetaSororitytoconduct 5kraceoncertaincitystreets - Adams Pg 15 C.CONSIDERANDACT:onarequestfor"2-Hour"parkingalongthe6400blockof Thackery - Smallwood Pg 19 D.CONSIDERANDACT:onarequestfromDiverestaurantfortwoshort-termparking spacesalongthe3400blockofRankin - Smallwood Pg 26 E.CONSIDERANDACT:onarequestfromParkCitiesAnimalHospitaltodesignate oneparkingspace"30-Minute"parking - Smallwood Pg 34 F.CONSIDERANDACT:onaresolutionacceptingtheresignationofRaymondD. NoahfromtheDallasAreaRapidTransit(DART)BoardofDirectorsandaffirmingthe appointmentofGaryA.SlageltocompletethetermendingJuly1,2012astheCity's sharedrepresentative - Spector Pg 43 G.CONSIDERANDACT:onminutesoftheOctober18,2011CityCouncilMeeting - Spector Pg 45 III.MAINAGENDA A.CONSIDERANDACT:onarequestforreimbursementofexpensesresultingfroma sanitarysewerbackupat2927LoversLane - Smallwood Pg 50 Page 1 of 80 B.CONSIDERANDACT:onarequesttoabandonacertainalleyright-of-way - Smallwood Pg 53 C.CONSIDERANDACT:onanordinanceoptingoutofgoods-in-transitexemption - Austin Pg 62 D.CONSIDERANDACT:onaresolutioncastingtheCouncil'svoteforthefourth memberoftheBoardofDirectorsoftheDallasCentralAppraisalDistrict(DCAD) - Spector Pg 79 IV.PUBLICCOMMENTS AnyonewishingtoaddressanitemnotontheAgendashoulddosoatthistime.Pleasebe advisedthatundertheTexasOpenMeetingsAct,theCouncilcannotdiscussoractatthis meetingonamatterthatisnotlistedontheAgenda.However,inresponsetoaninquiry,a Councilmembermayrespondwithastatementofspecificfactualinformationora recitationofexistingpolicy.ItistheCouncil’spolicytorequestthatcitizensnotaddress itemsthatarecurrentlyscheduledforafutureagendaorpublichearing.Instead,theCouncil requeststhatcitizensattendthatspecificmeetingtoexpresstheiropinions,orcommentto theCouncilbye-mailatCity-Council@uptexas.orgorletteraddressedtotheMayorand Councilat3800UniversityBlvd.,UniversityPark,Texas75205.Otherquestionsorprivate commentsfortheCityCouncilorStaffshouldbedirectedtothatindividualimmediately followingthemeeting. A.CONSIDERANDACT:ondonationrequestfromDallasMetropolitanBalletGuild AsauthorizedbySection551.071(2)oftheTexasGovernmentCode,thismeetingmaybeconvened intoClosedExecutiveSessionforthepurposeofseekingconfidentiallegaladvicefromtheCity AttorneyonanyAgendaitemslistedherein. Page 2 of 80 AGENDAMEMO (11/1/2011AGENDA) TO:HonorableMayorandCityCouncil FROM:KentR.Austin,DirectorofFinance SUBJECT:REPORT:InvestmentreportforquarterendedSeptemb er30,2011 BACKGROUND: ThequarterlyinvestmentreportfortheCity'sfour thquarterofFY2011isprovided.DuringtheJuly- September2011period,thetotalinvestedbalancef ellfrom$55,408,473to$53,450,443,asis commonduringthefinalquarteroftheyear.Theo verallaverageportfolioyieldchangedfrom 0.3885%to0.3970%,virtuallylevel. ATTACHMENTS: 4QFY2011investmentreport Page 3 of 80 CITY OF UNIVERSITY PARK, TEmS QUARTERLY INVESTMENT REPORT July - September 201 1 Submitted by authorized investment oflcers In accordance with The Public finds Investment Act and City of University Park investment policy Prepared by Fimce Departmenr Qcfober 26,201 1 Page 4 of 80 Page 1 of 5 CITY OF UNIVERSITY PARK, TEXAS October 26, 2011 TO: Honorable Mayor and City Council City Manager Finance Advisory Committee FROM: Kent Austin, Director of Finance SUBJ: Quarterly investment report – July-September 2011 Introduction The City’s investment portfolio shrank in size from $55,409,473 to $53,450,443 during the third quarter of calendar 2011, as is common in the final quarter of the City’s fiscal year. The portfolio’s average yield remained nearly level, rising imperceptibly from 0.3885% to 0.3970%, again reflecting the overall ultra-low rate environment. During the quarter, $18,342,761 matured, was called, or was withdrawn, and $16,408,791 was invested. The quarter continued the ongoing pattern of overall low interest rates, with expectations for more of the same going forward. The chart below displays the change in yields over the past year. COMPARATIVE INVESTMENT YIELDS, LAST FIVE QUARTERS 2010-2011 0.000% 0.100% 0.200% 0.300% 0.400% 0.500% 0.600% 0.700% 0.800% 9/30/201012/31/20103/31/20116/30/20119/30/2011 Weighted avg. yield City portfolio TexPool 91-day T-Bill 2-yr T-Note The Federal Reserve Open Market Committee (FOMC) met August 9 and September 20-21, 2011, each time affirming their maintenance of the target fed funds rate at a range of 0.0-0.25%. Page 5 of 80 Page 2 of 5 As noted in the last quarterly report, at the August 9 meeting, the Fed announced their intention to keep rates at that level for another two years. Current market conditions and economic developments Short-term rates fell all across the Treasury curve during the July-September quarter. The 91- day Treasury yield can almost go no lower, hovering around 1-2 basis points. The TexPool average daily rate crept up from 0.08% in June to 0.09% in September. Two-year Treasury note yields fell from 0.46% on June 30, 2011 to 0.25% at the end of September 2011. Term6/30/20119/30/2011Change 3-month0.01%0.02%0.01% 6-month0.10%0.05%-0.05% 2-year0.46%0.25%-0.21% 5-year1.76%0.95%-0.81% 10-year3.16%2.00%-1.16% TREASURY YIELDS 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 3-mo 6-mo 2-yr 5-yr 10-yr TREASURY YIELDS AT END OF QUARTER 6/30/2011 and 9/30/2011 6/30/2011 9/30/2011 Investment strategies employed in most recent quarter Most of the quarter’s activity was reinvesting matured and called holdings and keeping the overall portfolio liquid. Three million dollars in agency bonds matured, another five million were called, and $4.9 million in CD’s were renewed. Five callable agencies and one agency bullet were purchased with terms from nine months (0.16% yield) to three or three and a half years (1.125%). Pool yields ranged from 0.06% to 0.09%. The City maintained its new secondary bank deposit accounts with BB&T, reflected in the $500,000 cash balance. This Page 6 of 80 Page 3 of 5 account balance is intended to remain static, with the monthly earnings credit offsetting the bank fees. The chart below displays the investment activity by class during the quarter, while the pie chart shows how much of the portfolio was comprised by each class at the quarter’s end. $- $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 $7,000,000 $8,000,000 $9,000,000 $10,000,000 CashCD'sPoolsAgenciesTreasuries CITY INVESTMENT ACTIVITY BY CLASS 4Q 2011 IN OUT CITY INVESTMENT PORTFOLIO COMPOSITION 9/30/2011 Interest income rose, from $42,542 in April-June to $49,573 in July-September, as seen below. U.S. Treasuries 2% U.S. Agencies 43% CD's 24% Investment pools 30% Cash 1% Page 7 of 80 Page 4 of 5 $80,046 $81,981 $87,777 $93,534 $90,705 $73,020 $42,542 $49,573 $- $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 $80,000 $90,000 $100,000 12/31/093/31/106/30/109/30/1012/31/103/31/116/30/20119/30/2011 CITY QUARTERLY INTEREST INCOME LAST EIGHT QUARTERS 2009-2011 Portfolio description and conformance to Policy regarding diversification and term As of September 30, 2011, the portfolio is in compliance with the investment policy’s maximum exposure guidelines, as shown in the below table: Asset Category Current quarter Maximum allowed U.S. Treasuries 2% 100% U.S. Agencies 43% 60% Certificates of Deposit 24% 30% Investment Pools 30% 50% Cash 1% 100% During the July-September quarter, the portfolio’s weighted average maturity, a reflection of the portfolio’s overall time to maturity, rose from 192 days to 247 days. The change is the result of the purchase of multiple agency securities with terms extending as far as three and a half years. Anticipated investment conditions Investment conditions are unlikely to improve, even looking forward two years. During the last quarter, the very public and unsettling battle in Congress over the debt ceiling and the federal budget heightened anxiety among investors. On August 9, the Fed’s Open Market Committee stated that it expects to maintain exceptionally low levels for the federal funds rate at least through mid-2013. On August 12, Standard & Poor’s downgraded U.S. debt, which ironically was immediately followed by a surge in the purchase of Treasuries. Page 8 of 80 Page 5 of 5 After its September 21 meeting, the Fed announced its implementation of Operation Twist, in which the Fed extends the average maturity of its portfolio holdings by selling Treasuries with maturities between three months and three years, and purchasing Treasuries with maturities from six to thirty years. The goal is to bring down longer-term interest rates and make financial conditions more accommodative. Scott McIntyre of First Southwest Asset Management writes that, “the Economic Cycle Research Institute (ECRI) told its clients at the end of the quarter that the U.S. economy is tipping into recession . . . and there’s nothing that policy makers can do to stop it. Apparently, the ECRI is a credible predictor; according to The Economist, they’ve correctly forecasted the last three recessions without any false alarms in between.” In short, the bad conditions of the past three years are about to become worse. Traditionally, the worst time to extend maturities and lock in yields is when rates are low. At the same time, with pool rates below 0.10%, extending two to three years is the only way to capture any yield—even 0.8% or 1% is better than 0.10%. Even if a three-year bond is called after one year, at least that one year paid a higher yield than staying with a pool or one-year security. Jeff Flynn of TRACS Financial advocates a range of alternatives, like spreading funds among traditional investment pools, prime investment pools (which include commercial paper), and money market mutual funds. He also likes outside money managers for longer-term investments and FDIC-insured money market demand accounts. During the October-December quarter, $3 million in CDs will mature and $4 million in agencies will mature. All investments will continue to be made with safety of principal and liquidity as primary goals, and yield a secondary goal. It is worth remembering that while quarterly income continues to fall, not a penny of principal has been lost. The statutory and policy elements that constrain public funds investments also protect them. Attachments: • Investment Portfolio Summary Report • Quarterly Investment Report by Security Sector • Quarterly Investment Transaction Report Page 9 of 80 CITY OF UNIVERSITY PARK, TEXAS INVESTMENT PORTFOLIO SUMMARY REPORT QUARTER ENDED SEPTEMBER 30, 2011 End of quarter market value53,450,443$ End of quarter book value 53,418,896 Unrealized gain/(loss)31,547$ End of quarter market value53,450,443$ Beginning of quarter market value 55,409,473 Change in market value(1,959,030)$ End of quarter book value53,418,896$ Beginning of quarter book value 55,361,018 Change in book value(1,942,122)$ Weighted average maturity (WAM) in days (max. 548) Current period WAM 247 Prior period WAM192 Change in WAM55 City investment portfolio performance Average yield for period 0.3970% Average yield for prior period0.3885% Basis points change1 Benchmark performance - 91-day U.S. Treasury bill average April-June 2011 0.034% January-March 20110.047% Basis points change (1) City portfolio basis points above/(below) benchmark36 Asset CategoryCurrent QuarterMaximum AllowedIn compliance? U.S. Treasuries2%100%Yes U.S. Agencies43%60%Yes Municipal Bonds0%60%Yes Certificates of Deposit24%30%Yes Investment pools30%50%Yes Cash1%100%Yes 100% NOTE: THE CITY'S PRACTICE IS TO HOLD INVESTMENTS TO MATURITY, THEREBY AVOIDING ACTUAL DOLLAR LOSSES ON SECURITIES WHOSE MARKET VALUE FLUCTUATES FROM MONTH TO MONTH. Page 10 of 80 Ci t y o f U n i v e r s i t y P a r k , T e x a s Qu a r t e r l y I n v e s t m e n t R e p o r t - b y S e c u r i t y S e c t o r Be g i n A c t i v i t y D a t e : 6 / 3 0 / 2 0 1 1 , E n d A c t i v i t y D a t e : 9 / 3 0 / 2 0 1 1 , C a r r y i n g V a l u e D a t e : 6 / 3 0 / 2 0 1 1 De s c r i p t i o n Se t t l e m e n t Da t e Ma t u r i t y Da t e Fu n d N a m e E n d i n g F a c e Amo u n t Y i e l d A c q u i s i t i o n Co s t B o o k V a l u e M a r k e t V a l u e B o o k V a l u e M a r k e t V a l u e Unrealized Gain/Loss Br a n c h B a n k i n g & T r u s t C a s h 6 / 2 4 / 2 0 1 1 N / A 0 1 G e n e r a l F u n d 5 0 0 , 0 0 0 $ 0 . 5 0 0 0 0 % 5 0 0 , 0 0 0 $ 5 0 0 , 0 0 0 $ 5 0 0 , 0 0 0 $ 5 0 0 , 0 0 0 $ 5 0 0 , 0 0 0 $ $ - Su b T o t a l / A v e r a g e C a s h 50 0 , 0 0 0 0 . 5 0 0 0 5 0 0 , 0 0 0 5 0 0 , 0 0 0 5 0 0 , 0 0 0 5 0 0 , 0 0 0 5 0 0 , 0 0 0 - Vi e w P o i n t B a n k 0 . 8 5 7 / 2 9 / 2 0 1 1 7 / 2 9 / 2 0 1 0 7 / 2 9 / 2 0 1 1 4 7 E q u i p m e n t S e r v i c e s F u n d - - 1 , 1 4 8 , 8 8 5 1 , 1 4 8 , 8 8 5 - - - TE X A S C A P I T A L B A N K 0 . 2 5 8 / 1 8 / 2 0 1 2 / 1 5 / 2 0 1 1 8 / 1 8 / 2 0 1 1 0 1 G e n e r a l F u n d - - 2 , 2 7 3 , 1 7 8 2 , 2 7 3 , 1 7 8 - - - TE X A S C A P I T A L B A N K 0 . 2 5 9 / 8 / 2 0 1 1 6 / 3 / 2 0 1 1 9 / 8 / 2 0 1 1 4 4 C a p i t a l P r o j e c t s F u n d - - 1 , 4 7 0 , 6 9 8 1 , 4 7 0 , 6 9 8 - - - Vi e w P o i n t B a n k 0 . 3 5 1 1 / 1 4 / 2 0 1 1 4 / 1 3 / 2 0 1 1 1 1 / 1 4 / 2 0 1 1 0 1 G e n e r a l F u n d 1 , 0 2 2 , 7 6 9 0 . 3 5 0 0 1 , 0 2 2 , 7 6 9 1 , 0 2 2 , 7 6 9 1 , 0 2 2 , 7 6 9 1 , 0 2 2 , 7 6 9 1 , 0 2 2 , 7 6 9 - Te x a s C a p i t a l B a n k 0 . 2 5 1 2 / 2 9 / 2 0 1 1 3 / 2 5 / 2 0 1 1 1 2 / 2 9 / 2 0 1 1 0 3 - 2 S M U L a n d S a l e R e s e r v e 2 , 0 1 8 , 8 7 7 0 . 2 5 0 0 2 , 0 1 8 , 8 7 7 2 , 0 1 8 , 8 7 7 2 , 0 1 8 , 8 7 7 2 , 0 1 8 , 8 7 7 2 , 0 1 8 , 8 7 7 - Te x a s C a p i t a l B a n k 0 . 2 5 1 / 1 8 / 2 0 1 2 1 / 1 9 / 2 0 1 1 1 / 1 8 / 2 0 1 2 0 1 G e n e r a l F u n d 1 , 8 7 7 , 1 5 9 0 . 2 5 0 0 1 , 8 7 7 , 1 5 9 1 , 8 7 7 , 1 5 9 1 , 8 7 7 , 1 5 9 1 , 8 7 7 , 1 5 9 1 , 8 7 7 , 1 5 9 - Vi e w P o i n t B a n k 0 . 5 5 1 / 3 0 / 2 0 1 2 1 / 2 8 / 2 0 1 1 1 / 3 0 / 2 0 1 2 0 1 G e n e r a l F u n d 1 , 1 1 2 , 4 5 3 0 . 5 5 0 0 1 , 1 1 2 , 4 5 3 1 , 1 1 2 , 4 5 3 1 , 1 1 2 , 4 5 3 1 , 1 1 2 , 4 5 3 1 , 1 1 2 , 4 5 3 - TE X A S C A P I T A L B A N K 0 . 2 5 3 / 8 / 2 0 1 2 9 / 8 / 2 0 1 1 3 / 8 / 2 0 1 2 4 4 C a p i t a l P r o j e c t s F u n d 1 , 4 7 1 , 6 8 9 0 . 2 5 0 0 1 , 4 7 1 , 6 8 9 - - 1 , 4 7 1 , 6 8 9 1 , 4 7 1 , 6 8 9 - Vi e w P o i n t B a n k 0 . 3 5 / 2 5 / 2 0 1 2 7 / 2 9 / 2 0 1 1 5 / 2 5 / 2 0 1 2 4 7 E q u i p m e n t S e r v i c e s F u n d 1 , 1 5 7 , 9 2 9 0 . 3 0 0 0 1 , 1 5 7 , 9 2 9 - - 1 , 1 5 7 , 9 2 9 1 , 1 5 7 , 9 2 9 - VI E W P O I N T B A N K 0 . 5 6 / 2 8 / 2 0 1 2 6 / 2 9 / 2 0 1 1 6 / 2 8 / 2 0 1 2 0 3 - 2 S M U L a n d S a l e R e s e r v e 2 , 0 2 9 , 1 6 8 0 . 5 0 0 0 2 , 0 2 9 , 1 6 8 2 , 0 2 9 , 1 6 8 2 , 0 2 9 , 1 6 8 2 , 0 2 9 , 1 6 8 2 , 0 2 9 , 1 6 8 - Te x a s C a p i t a l B a n k 0 . 2 5 8 / 1 6 / 2 0 1 2 8 / 1 8 / 2 0 1 1 8 / 1 6 / 2 0 1 2 0 1 G e n e r a l F u n d 2 , 2 7 6 , 0 8 2 0 . 2 5 0 0 2 , 2 7 6 , 0 8 2 - - 2 , 2 7 6 , 0 8 2 2 , 2 7 6 , 0 8 2 - Su b T o t a l / A v e r a g e C e r t i f i c a t e O f D e p o s i t 12 , 9 6 6 , 1 2 7 0 . 3 2 7 2 1 2 , 9 6 6 , 1 2 7 1 2 , 9 5 3 , 1 8 7 1 2 , 9 5 3 , 1 8 7 1 2 , 9 6 6 , 1 2 7 1 2 , 9 6 6 , 1 2 7 - TE X A S D A I L Y L G I P N / A N / A V a r i o u s F u n d s 2 , 9 2 4 , 1 6 6 2 , 9 2 4 , 1 6 6 2 , 9 2 3 , 6 5 5 2 , 9 2 3 , 6 5 5 2 , 9 2 4 , 1 6 6 2 , 9 2 4 , 1 6 6 - TE X P O O L L G I P N / A N / A 0 2 U t i l i t y F u n d 1 0 , 2 8 3 , 9 2 4 1 0 , 2 8 3 , 9 2 4 9 , 9 8 1 , 7 7 4 9 , 9 8 1 , 7 7 4 1 0 , 2 8 3 , 9 2 4 1 0 , 2 8 3 , 9 2 4 - Te x S T A R L G I P N / A N / A 0 1 G e n e r a l F u n d 2 , 7 1 2 , 2 8 6 2 , 7 1 2 , 2 8 6 2 , 9 6 1 , 6 8 7 2 , 9 6 1 , 6 8 7 2 , 7 1 2 , 2 8 6 2 , 7 1 2 , 2 8 6 - Su b T o t a l / A v e r a g e L o c a l G o v e r n m e n t I n v e s t m e n t P o o l 15 , 9 2 0 , 3 7 6 0 . 0 8 8 3 1 5 , 9 2 0 , 3 7 6 1 5 , 8 6 7 , 1 1 6 1 5 , 8 6 7 , 1 1 6 1 5 , 9 2 0 , 3 7 6 1 5 , 9 2 0 , 3 7 6 - FH L B 0 . 2 1 8 / 1 0 / 2 0 1 1 1 / 6 / 2 0 1 1 8 / 1 0 / 2 0 1 1 0 1 G e n e r a l F u n d - - 1 , 9 9 9 , 9 6 3 2 , 0 0 0 , 2 6 0 - - - FH L M C 0 8 / 2 9 / 2 0 1 1 1 1 / 2 3 / 2 0 1 0 8 / 2 9 / 2 0 1 1 0 1 G e n e r a l F u n d - - 9 9 9 , 6 3 3 9 9 9 , 9 7 0 - - - FH L M C 0 9 / 1 3 / 2 0 1 1 1 2 / 3 / 2 0 1 0 9 / 1 3 / 2 0 1 1 0 3 - 2 S M U L a n d S a l e R e s e r v e - - 9 9 9 , 5 4 2 9 9 9 , 9 4 0 - - - FH L B 0 . 3 1 0 / 1 4 / 2 0 1 1 1 1 / 3 0 / 2 0 1 0 1 0 / 1 4 / 2 0 1 1 0 1 G e n e r a l F u n d 1 , 0 0 0 , 0 0 0 0 . 2 7 3 6 1 , 0 0 0 , 2 3 0 1 , 0 0 0 , 0 7 6 1 , 0 0 0 , 6 1 0 1 , 0 0 0 , 0 1 0 1 , 0 0 0 , 0 8 0 70 FH L B 1 . 2 5 1 2 / 9 / 2 0 1 1 1 2 / 2 3 / 2 0 0 9 1 2 / 9 / 2 0 1 1 0 1 G e n e r a l F u n d 1 , 0 0 0 , 0 0 0 1 . 1 3 4 9 1 , 0 0 2 , 2 2 0 1 , 0 0 0 , 5 0 0 1 , 0 0 4 , 5 2 0 1 , 0 0 0 , 2 1 7 1 , 0 0 1 , 9 6 0 1,743 FN M A 0 1 2 / 1 5 / 2 0 1 1 1 / 2 6 / 2 0 1 1 1 2 / 1 5 / 2 0 1 1 0 1 G e n e r a l F u n d 2 , 0 0 0 , 0 0 0 0 . 2 5 3 9 1 , 9 9 5 , 5 1 4 1 , 9 9 7 , 6 6 7 1 , 9 9 9 , 0 6 0 1 , 9 9 8 , 9 4 4 1 , 9 9 9 , 9 2 0 976 FH L M C 0 1 / 1 9 / 2 0 1 2 1 / 2 7 / 2 0 1 1 1 / 1 9 / 2 0 1 2 0 2 U t i l i t y F u n d 1 , 0 0 0 , 0 0 0 0 . 2 5 3 9 9 9 7 , 5 2 1 9 9 8 , 5 9 0 9 9 9 , 3 8 0 9 9 9 , 2 2 9 9 9 9 , 9 4 0 711 FH L B 1 2 / 2 7 / 2 0 1 2 3 / 5 / 2 0 1 0 2 / 2 7 / 2 0 1 2 0 1 G e n e r a l F u n d 1 , 0 0 0 , 0 0 0 1 . 0 0 0 0 1 , 0 0 0 , 0 0 0 1 , 0 0 0 , 0 0 0 1 , 0 0 5 , 1 3 0 1 , 0 0 0 , 0 0 0 1 , 0 0 3 , 6 7 0 3,670 FH L B 0 . 7 5 4 / 2 / 2 0 1 2 8 / 3 / 2 0 1 0 4 / 2 / 2 0 1 2 0 3 - 2 S M U L a n d S a l e R e s e r v e 1 , 0 0 0 , 0 0 0 0 . 5 7 2 6 1 , 0 0 3 , 8 0 0 1 , 0 0 1 , 7 2 6 1 , 0 0 3 , 9 1 0 1 , 0 0 1 , 1 5 5 1 , 0 0 2 , 7 9 0 1,635 FH L B 0 . 1 6 4 / 2 / 2 0 1 2 7 / 1 / 2 0 1 1 4 / 2 / 2 0 1 2 0 1 G e n e r a l F u n d 1 , 0 0 0 , 0 0 0 0 . 1 5 0 3 9 9 9 , 8 3 0 - - 9 9 9 , 8 8 6 9 9 9 , 8 1 0 (76) FF C B 0 . 2 7 4 / 2 5 / 2 0 1 2 4 / 2 7 / 2 0 1 1 4 / 2 5 / 2 0 1 2 0 1 G e n e r a l F u n d 1 , 0 0 0 , 0 0 0 0 . 2 0 0 0 1 , 0 0 0 , 6 9 5 1 , 0 0 0 , 5 7 3 1 , 0 0 0 , 1 7 0 1 , 0 0 0 , 3 9 8 1 , 0 0 0 , 1 6 0 (238) FH L B 1 . 1 2 5 5 / 1 8 / 2 0 1 2 5 / 6 / 2 0 1 1 5 / 1 8 / 2 0 1 2 0 3 - 2 S M U L a n d S a l e R e s e r v e 1 , 0 0 0 , 0 0 0 0 . 2 2 8 3 1 , 0 0 9 , 2 5 0 1 , 0 0 7 , 9 0 7 1 , 0 0 7 , 7 5 0 1 , 0 0 5 , 6 6 9 1 , 0 0 5 , 5 3 0 (139) FH L B 0 . 8 7 5 7 / 1 3 / 2 0 1 2 - 1 1 7 / 1 3 / 2 0 1 0 7 / 1 3 / 2 0 1 2 0 3 - 2 S M U L a n d S a l e R e s e r v e - - 2 , 0 0 0 , 0 0 0 2 , 0 0 0 , 4 0 0 - - - FH L B 0 . 8 5 7 / 2 6 / 2 0 1 2 - 1 1 7 / 2 6 / 2 0 1 0 7 / 2 6 / 2 0 1 2 4 7 E q u i p m e n t S e r v i c e s F u n d - - 1 , 0 0 0 , 0 0 0 1 , 0 0 0 , 4 6 0 - - - FF C B 0 . 6 5 7 / 3 0 / 2 0 1 2 7 / 3 0 / 2 0 1 0 7 / 3 0 / 2 0 1 2 0 3 - 2 S M U L a n d S a l e R e s e r v e 2 , 0 0 0 , 0 0 0 0 . 7 2 0 7 1 , 9 9 7 , 2 0 0 1 , 9 9 8 , 4 8 3 2 , 0 0 7 , 5 4 0 1 , 9 9 8 , 8 3 3 2 , 0 0 6 , 6 6 0 7,827 FF C B 0 . 7 3 8 / 2 / 2 0 1 2 - 1 1 8 / 2 / 2 0 1 0 8 / 2 / 2 0 1 2 0 3 - 2 S M U L a n d S a l e R e s e r v e - - 2 , 0 0 0 , 0 0 0 2 , 0 0 1 , 0 4 0 - - - FH L B 2 9 / 1 4 / 2 0 1 2 8 / 1 7 / 2 0 1 0 9 / 1 4 / 2 0 1 2 0 1 G e n e r a l F u n d 2 , 0 0 0 , 0 0 0 0 . 6 0 9 8 2 , 0 5 7 , 2 4 0 2 , 0 3 3 , 2 5 6 2 , 0 4 0 , 3 0 0 2 , 0 2 6 , 3 6 0 2 , 0 3 3 , 3 8 0 7,020 FF C B 0 . 8 4 4 / 4 / 2 0 1 3 - 1 2 4 / 4 / 2 0 1 1 4 / 4 / 2 0 1 3 0 3 - 2 S M U L a n d S a l e R e s e r v e 1 , 0 0 0 , 0 0 0 0 . 8 4 0 0 1 , 0 0 0 , 0 0 0 1 , 0 0 0 , 0 0 0 1 , 0 0 3 , 5 0 0 1 , 0 0 0 , 0 0 0 1 , 0 0 2 , 5 8 0 2,580 FH L M C 0 . 5 9 / 6 / 2 0 1 3 - 1 2 9 / 3 0 / 2 0 1 1 9 / 6 / 2 0 1 3 0 3 - 2 S M U L a n d S a l e R e s e r v e 1 , 0 0 0 , 0 0 0 0 . 5 0 0 0 1 , 0 0 0 , 0 0 0 - - 1 , 0 0 0 , 0 0 0 9 9 8 , 4 3 0 (1,570) FH L B 1 9 / 3 0 / 2 0 1 3 - 1 2 3 / 3 0 / 2 0 1 1 9 / 3 0 / 2 0 1 3 0 1 G e n e r a l F u n d 1 , 0 0 0 , 0 0 0 1 . 0 5 0 8 9 9 8 , 7 5 0 9 9 8 , 8 7 5 1 , 0 0 5 , 7 8 0 9 9 9 , 0 0 0 1 , 0 0 3 , 8 8 0 4,880 FF C B 0 . 5 1 1 / 1 8 / 2 0 1 3 - 1 1 8 / 1 8 / 2 0 1 1 1 1 / 1 8 / 2 0 1 3 4 7 E q u i p m e n t S e r v i c e s F u n d 1 , 0 0 0 , 0 0 0 0 . 5 0 0 0 1 , 0 0 0 , 0 0 0 - - 1 , 0 0 0 , 0 0 0 9 9 8 , 8 4 0 (1,160) FH L B 1 . 1 1 2 / 3 0 / 2 0 1 3 - 1 1 3 / 3 0 / 2 0 1 1 1 2 / 3 0 / 2 0 1 3 0 1 G e n e r a l F u n d 1 , 0 0 0 , 0 0 0 1 . 1 3 7 2 9 9 9 , 0 0 0 9 9 9 , 0 9 1 1 , 0 0 4 , 5 3 0 9 9 9 , 1 8 2 1 , 0 0 2 , 2 7 0 3,088 FN M A 1 . 1 2 5 7 / 1 8 / 2 0 1 4 - 1 2 7 / 1 8 / 2 0 1 1 7 / 1 8 / 2 0 1 4 0 3 - 2 S M U L a n d S a l e R e s e r v e 2 , 0 0 0 , 0 0 0 1 . 1 2 5 0 2 , 0 0 0 , 0 0 0 - - 2 , 0 0 0 , 0 0 0 2 , 0 0 2 , 7 2 0 2,720 FN M A S t e p 9 / 9 / 2 0 1 4 - 1 2 9 / 9 / 2 0 1 1 9 / 9 / 2 0 1 4 0 1 G e n e r a l F u n d 1 , 0 0 0 , 0 0 0 1 . 0 0 4 3 1 , 0 0 0 , 0 0 0 - - 1 , 0 0 0 , 0 0 0 9 9 8 , 0 0 0 (2,000) FN M A 0 . 8 3 / 1 2 / 2 0 1 5 - 1 2 9 / 1 2 / 2 0 1 1 3 / 1 2 / 2 0 1 5 0 3 - 2 S M U L a n d S a l e R e s e r v e 1 , 0 0 0 , 0 0 0 0 . 8 0 0 0 1 , 0 0 0 , 0 0 0 - - 1 , 0 0 0 , 0 0 0 9 9 9 , 1 8 0 (820) Su b T o t a l / A v e r a g e U S A g e n c y 23 , 0 0 0 , 0 0 0 0 . 6 5 4 8 2 3 , 0 6 1 , 2 5 0 2 5 , 0 3 5 , 8 8 1 2 5 , 0 8 4 , 2 5 0 2 3 , 0 2 8 , 8 8 3 2 3 , 0 5 9 , 8 0 0 30,917 B e g i n n i n g o f Q u a r t e r E n d o f Q u a r t e r Ca s h Ce r t i f i c a t e O f D e p o s i t Lo c a l G o v e r n m e n t I n v e s t m e n t P o o l US A g e n c y S: \ F I N A N C E \ I N V E S T M E N T S \ R E P O R T S F Y 2 0 1 1 \ C U P 4 Q F Y 1 1 9 - 3 0 - 2 0 1 1 . x l s x 1 0 / 2 6 / 2 0 1 1 8 : 0 8 A M Page 11 of 80 Ci t y o f U n i v e r s i t y P a r k , T e x a s Qu a r t e r l y I n v e s t m e n t R e p o r t - b y S e c u r i t y S e c t o r Be g i n A c t i v i t y D a t e : 6 / 3 0 / 2 0 1 1 , E n d A c t i v i t y D a t e : 9 / 3 0 / 2 0 1 1 , C a r r y i n g V a l u e D a t e : 6 / 3 0 / 2 0 1 1 De s c r i p t i o n Se t t l e m e n t Da t e Ma t u r i t y Da t e Fu n d N a m e E n d i n g F a c e Amo u n t Y i e l d A c q u i s i t i o n Co s t B o o k V a l u e M a r k e t V a l u e B o o k V a l u e M a r k e t V a l u e Unrealized Gain/Loss B e g i n n i n g o f Q u a r t e r E n d o f Q u a r t e r T- N o t e 0 . 7 5 5 / 3 1 / 2 0 1 2 5 / 6 / 2 0 1 1 5 / 3 1 / 2 0 1 2 0 3 - 2 S M U L a n d S a l e R e s e r v e 1 , 0 0 0 , 0 0 0 0 . 2 2 2 7 1 , 0 0 5 , 6 2 5 1 , 0 0 4 , 8 3 4 1 , 0 0 4 , 9 2 0 1 , 0 0 3 , 5 1 0 1 , 0 0 4 , 1 4 0 630 Su b T o t a l / A v e r a g e U S T r e a s u r y 1, 0 0 0 , 0 0 0 0 . 2 2 2 7 1 , 0 0 5 , 6 2 5 1 , 0 0 4 , 8 3 4 1 , 0 0 4 , 9 2 0 1 , 0 0 3 , 5 1 0 1 , 0 0 4 , 1 4 0 630 To t a l / A v e r a g e 53 , 3 8 6 , 5 0 3 $ 0 . 3 9 7 0 % 5 3 , 4 5 3 , 3 7 7 $ 5 5 , 3 6 1 , 0 1 8 $ 5 5 , 4 0 9 , 4 7 3 $ 5 3 , 4 1 8 , 8 9 6 $ 5 3 , 4 5 0 , 4 4 3 $ 31,546$ US T r e a s u r y S: \ F I N A N C E \ I N V E S T M E N T S \ R E P O R T S F Y 2 0 1 1 \ C U P 4 Q F Y 1 1 9 - 3 0 - 2 0 1 1 . x l s x 1 0 / 2 6 / 2 0 1 1 8 : 0 8 A M Page 12 of 80 Ci t y o f U n i v e r s i t y P a r k , T e x a s Tr a n s a c t i o n R e p o r t Be g i n A c t i v i t y D a t e : 6 / 3 0 / 2 0 1 1 , E n d A c t i v i t y D a t e : 9 / 3 0 / 2 0 1 1 , C a r r y i n g V a l u e D a t e : 6 / 3 0 / 2 0 1 1 De s c r i p t i o n S e t t l e m e n t D a t e M a t u r i t y D a t e B e g i n n i n g F a c e Am o u n t / S h a r e s B u y P r i n c i p a l (I n ) S e l l P r i n c i p a l (O u t ) E n d i n g F a c e Am o u n t / S h a r e s Q u a r t e r l y In v e s t m e n t In c o m e Br a n c h B a n k i n g & T r u s t C a s h 6 / 2 4 / 2 0 1 1 N / A 5 0 0 , 0 0 0 $ $ - $ - 5 0 0 , 0 0 0 $ $ - TE X A S D A I L Y L G I P N / A N / A 1 9 9 , 5 5 1 3 5 - 1 9 9 , 5 8 6 3 5 TE X P O O L L G I P N / A N / A 2 , 6 7 0 , 6 5 6 1 , 9 0 1 , 6 6 9 3 , 2 0 0 , 0 0 0 1 , 3 7 2 , 3 2 5 1 , 6 6 9 Te x S T A R L G I P N / A N / A 2 , 0 0 0 , 9 0 8 3 9 0 2 5 0 , 0 0 0 1 , 7 5 1 , 2 9 7 3 9 0 FH L B 0 . 2 1 8 / 1 0 / 2 0 1 1 1 / 6 / 2 0 1 1 8 / 1 0 / 2 0 1 1 2 , 0 0 0 , 0 0 0 - 2 , 0 0 0 , 0 0 0 - 5 0 4 TE X A S C A P I T A L B A N K 0 . 2 5 8 / 1 8 / 2 0 1 1 2 / 1 5 / 2 0 1 1 8 / 1 8 / 2 0 1 1 2 , 2 7 3 , 1 7 8 - 2 , 2 7 3 , 1 7 8 - 7 6 3 FH L M C 0 8 / 2 9 / 2 0 1 1 1 1 / 2 3 / 2 0 1 0 8 / 2 9 / 2 0 1 1 1 , 0 0 0 , 0 0 0 - 1 , 0 0 0 , 0 0 0 - 3 6 7 FH L B 0 . 3 1 0 / 1 4 / 2 0 1 1 1 1 / 3 0 / 2 0 1 0 1 0 / 1 4 / 2 0 1 1 1 , 0 0 0 , 0 0 0 - - 1 , 0 0 0 , 0 0 0 6 8 4 Vi e w P o i n t B a n k 0 . 3 5 1 1 / 1 4 / 2 0 1 1 4 / 1 3 / 2 0 1 1 1 1 / 1 4 / 2 0 1 1 1 , 0 2 2 , 7 6 9 - - 1 , 0 2 2 , 7 6 9 9 0 2 FH L B 1 . 2 5 1 2 / 9 / 2 0 1 1 1 2 / 2 3 / 2 0 0 9 1 2 / 9 / 2 0 1 1 1 , 0 0 0 , 0 0 0 - - 1 , 0 0 0 , 0 0 0 2 , 8 4 2 FN M A 0 1 2 / 1 5 / 2 0 1 1 1 / 2 6 / 2 0 1 1 1 2 / 1 5 / 2 0 1 1 2 , 0 0 0 , 0 0 0 - - 2 , 0 0 0 , 0 0 0 1 , 2 7 8 Te x a s C a p i t a l B a n k 0 . 2 5 1 / 1 8 / 2 0 1 2 1 / 1 9 / 2 0 1 1 1 / 1 8 / 2 0 1 2 1 , 8 7 7 , 1 5 9 - - 1 , 8 7 7 , 1 5 9 1 , 1 8 3 Vi e w P o i n t B a n k 0 . 5 5 1 / 3 0 / 2 0 1 2 1 / 2 8 / 2 0 1 1 1 / 3 0 / 2 0 1 2 1 , 1 1 2 , 4 5 3 - - 1 , 1 1 2 , 4 5 3 1 , 5 4 2 FH L B 1 2 / 2 7 / 2 0 1 2 3 / 5 / 2 0 1 0 2 / 2 7 / 2 0 1 2 1 , 0 0 0 , 0 0 0 - - 1 , 0 0 0 , 0 0 0 2 , 5 0 0 FH L B 0 . 1 6 4 / 2 / 2 0 1 2 7 / 1 / 2 0 1 1 4 / 2 / 2 0 1 2 - 9 9 9 , 8 3 0 - 1 , 0 0 0 , 0 0 0 3 2 0 FF C B 0 . 2 7 4 / 2 5 / 2 0 1 2 4 / 2 7 / 2 0 1 1 4 / 2 5 / 2 0 1 2 1 , 0 0 0 , 0 0 0 - - 1 , 0 0 0 , 0 0 0 5 0 0 Te x a s C a p i t a l B a n k 0 . 2 5 8 / 1 6 / 2 0 1 2 8 / 1 8 / 2 0 1 1 8 / 1 6 / 2 0 1 2 - 2 , 2 7 6 , 0 8 2 - 2 , 2 7 6 , 0 8 2 6 7 0 FH L B 2 9 / 1 4 / 2 0 1 2 8 / 1 7 / 2 0 1 0 9 / 1 4 / 2 0 1 2 2 , 0 0 0 , 0 0 0 - - 2 , 0 0 0 , 0 0 0 3 , 1 0 4 FH L B 1 9 / 3 0 / 2 0 1 3 - 1 2 3 / 3 0 / 2 0 1 1 9 / 3 0 / 2 0 1 3 1 , 0 0 0 , 0 0 0 - - 1 , 0 0 0 , 0 0 0 2 , 6 2 5 FH L B 1 . 1 1 2 / 3 0 / 2 0 1 3 - 1 1 3 / 3 0 / 2 0 1 1 1 2 / 3 0 / 2 0 1 3 1 , 0 0 0 , 0 0 0 - - 1 , 0 0 0 , 0 0 0 2 , 8 4 1 FN M A S t e p 9 / 9 / 2 0 1 4 - 1 2 9 / 9 / 2 0 1 1 9 / 9 / 2 0 1 4 - 1 , 0 0 0 , 0 0 0 - 1 , 0 0 0 , 0 0 0 2 9 2 Su b T o t a l / A v e r a g e 0 1 G e n e r a l F u n d 2 4 , 6 5 6 , 6 7 4 6 , 1 7 8 , 0 0 6 8 , 7 2 3 , 1 7 8 2 2 , 1 1 1 , 6 7 2 2 5 , 0 1 0 TE X P O O L L G I P N / A N / A 1 7 1 , 3 0 3 3 5 - 1 7 1 , 3 3 8 3 5 Te x S T A R L G I P N / A N / A 1 1 4 , 6 6 5 2 5 - 1 1 4 , 6 9 0 2 5 FH L M C 0 1 / 1 9 / 2 0 1 2 1 / 2 7 / 2 0 1 1 1 / 1 9 / 2 0 1 2 1 , 0 0 0 , 0 0 0 - - 1 , 0 0 0 , 0 0 0 6 3 9 Su b T o t a l / A v e r a g e 0 2 U t i l i t y F u n d 1 , 2 8 5 , 9 6 8 6 0 - 1 , 2 8 6 , 0 2 8 6 9 9 TE X P O O L L G I P N / A N / A 2 , 5 0 0 , 0 0 0 - - 2 , 5 0 0 , 0 0 0 - Su b T o t a l / A v e r a g e 0 3 E m e r g e n c y F u n d 2 , 5 0 0 , 0 0 0 - - 2 , 5 0 0 , 0 0 0 - TE X P O O L L G I P 6 / 2 / 2 0 0 9 N / A 2 , 0 0 0 , 0 0 0 - - 2 , 0 0 0 , 0 0 0 - Su b T o t a l / A v e r a g e 0 3 - 1 S M U P I L O T R e s e r v e 2, 0 0 0 , 0 0 0 - - 2 , 0 0 0 , 0 0 0 - TE X P O O L L G I P 7 / 3 1 / 2 0 0 9 N / A 8 7 8 , 7 6 0 2 , 0 0 0 , 0 0 0 1 , 0 0 0 , 0 0 0 1 , 8 7 8 , 7 6 0 - FH L M C 0 9 / 1 3 / 2 0 1 1 1 2 / 3 / 2 0 1 0 9 / 1 3 / 2 0 1 1 1 , 0 0 0 , 0 0 0 - 1 , 0 0 0 , 0 0 0 - 4 5 8 Te x a s C a p i t a l B a n k 0 . 2 5 1 2 / 2 9 / 2 0 1 1 3 / 2 5 / 2 0 1 1 1 2 / 2 9 / 2 0 1 1 2 , 0 1 8 , 8 7 7 - - 2 , 0 1 8 , 8 7 7 1 , 2 7 2 FH L B 0 . 7 5 4 / 2 / 2 0 1 2 8 / 3 / 2 0 1 0 4 / 2 / 2 0 1 2 1 , 0 0 0 , 0 0 0 - - 1 , 0 0 0 , 0 0 0 1 , 3 0 4 FH L B 1 . 1 2 5 5 / 1 8 / 2 0 1 2 5 / 6 / 2 0 1 1 5 / 1 8 / 2 0 1 2 1 , 0 0 0 , 0 0 0 - - 1 , 0 0 0 , 0 0 0 5 7 5 T- N o t e 0 . 7 5 5 / 3 1 / 2 0 1 2 5 / 6 / 2 0 1 1 5 / 3 1 / 2 0 1 2 1 , 0 0 0 , 0 0 0 - - 1 , 0 0 0 , 0 0 0 5 6 2 VI E W P O I N T B A N K 0 . 5 6 / 2 8 / 2 0 1 2 6 / 2 9 / 2 0 1 1 6 / 2 8 / 2 0 1 2 2 , 0 2 9 , 1 6 8 - - 2 , 0 2 9 , 1 6 8 2 , 5 5 7 FH L B 0 . 8 7 5 7 / 1 3 / 2 0 1 2 - 1 1 7 / 1 3 / 2 0 1 0 7 / 1 3 / 2 0 1 2 2 , 0 0 0 , 0 0 0 - 2 , 0 0 0 , 0 0 0 - 6 3 2 FF C B 0 . 6 5 7 / 3 0 / 2 0 1 2 7 / 3 0 / 2 0 1 0 7 / 3 0 / 2 0 1 2 2 , 0 0 0 , 0 0 0 - - 2 , 0 0 0 , 0 0 0 3 , 6 0 0 FF C B 0 . 7 3 8 / 2 / 2 0 1 2 - 1 1 8 / 2 / 2 0 1 0 8 / 2 / 2 0 1 2 2 , 0 0 0 , 0 0 0 - 2 , 0 0 0 , 0 0 0 - 1 , 2 9 8 FF C B 0 . 8 4 4 / 4 / 2 0 1 3 - 1 2 4 / 4 / 2 0 1 1 4 / 4 / 2 0 1 3 1 , 0 0 0 , 0 0 0 - - 1 , 0 0 0 , 0 0 0 2 , 1 0 0 01 G e n e r a l F u n d 02 U t i l i t y F u n d 03 E m e r g e n c y F u n d 03 - 1 S M U P I L O T R e s e r v e 03 - 2 S M U L a n d S a l e R e s e r v e CU P 4 Q F Y 1 1 9 - 3 0 - 2 0 1 1 . x l s x 2 T r a c k e r T r a n s a c t i o n 0 9 3 0 2 0 1 1 1 0 / 2 6 / 2 0 1 1 8 : 0 9 A M Page 1 of 2Page 13 of 80 Ci t y o f U n i v e r s i t y P a r k , T e x a s Tr a n s a c t i o n R e p o r t Be g i n A c t i v i t y D a t e : 6 / 3 0 / 2 0 1 1 , E n d A c t i v i t y D a t e : 9 / 3 0 / 2 0 1 1 , C a r r y i n g V a l u e D a t e : 6 / 3 0 / 2 0 1 1 De s c r i p t i o n S e t t l e m e n t D a t e M a t u r i t y D a t e B e g i n n i n g F a c e Am o u n t / S h a r e s B u y P r i n c i p a l (I n ) S e l l P r i n c i p a l (O u t ) E n d i n g F a c e Am o u n t / S h a r e s Q u a r t e r l y In v e s t m e n t In c o m e FH L M C 0 . 5 9 / 6 / 2 0 1 3 - 1 2 9 / 3 0 / 2 0 1 1 9 / 6 / 2 0 1 3 - 1 , 0 0 0 , 0 0 0 - 1 , 0 0 0 , 0 0 0 - FN M A 1 . 1 2 5 7 / 1 8 / 2 0 1 4 - 1 2 7 / 1 8 / 2 0 1 1 7 / 1 8 / 2 0 1 4 - 2 , 0 0 0 , 0 0 0 - 2 , 0 0 0 , 0 0 0 4 , 5 0 0 FN M A 0 . 8 3 / 1 2 / 2 0 1 5 - 1 2 9 / 1 2 / 2 0 1 1 3 / 1 2 / 2 0 1 5 - 1 , 0 0 0 , 0 0 0 - 1 , 0 0 0 , 0 0 0 4 0 0 Su b T o t a l / A v e r a g e 0 3 - 2 S M U L a n d S a l e R e s e r v e 15 , 9 2 6 , 8 0 5 6 , 0 0 0 , 0 0 0 6 , 0 0 0 , 0 0 0 1 5 , 9 2 6 , 8 0 5 1 9 , 2 5 8 TE X P O O L L G I P N / A N / A 2 4 9 , 0 4 0 5 1 - 2 4 9 , 0 9 1 5 1 Te x S T A R L G I P N / A N / A 1 3 0 , 7 1 9 2 8 - 1 3 0 , 7 4 7 2 8 Su b T o t a l / A v e r a g e 0 4 S a n i t a t i o n F u n d 3 7 9 , 7 5 9 7 9 - 3 7 9 , 8 3 8 7 9 Te x S T A R L G I P N / A N / A 2 2 9 , 9 2 0 5 0 - 2 2 9 , 9 7 0 5 0 Su b T o t a l / A v e r a g e 1 5 S W H E A F u n d 2 2 9 , 9 2 0 5 0 - 2 2 9 , 9 7 0 5 0 TE X P O O L L G I P N / A N / A 2 9 , 7 6 8 6 - 2 9 , 7 7 4 6 Te x S T A R L G I P N / A N / A 1 0 0 , 8 3 4 2 2 - 1 0 0 , 8 5 6 2 2 Su b T o t a l / A v e r a g e 4 2 C a p i t a l P r o j e c t s 1 3 0 , 6 0 2 2 8 - 1 3 0 , 6 3 0 2 8 TE X A S D A I L Y L G I P N / A N / A 2 , 7 2 4 , 0 1 7 4 7 6 - 2 , 7 2 4 , 4 9 3 4 7 6 TE X P O O L L G I P N / A N / A 8 9 , 8 8 3 1 8 - 8 9 , 9 0 1 1 8 Te x S T A R L G I P N / A N / A 2 1 , 8 3 1 5 - 2 1 , 8 3 6 5 TE X A S C A P I T A L B A N K 0 . 2 5 9 / 8 / 2 0 1 1 6 / 3 / 2 0 1 1 9 / 8 / 2 0 1 1 1 , 4 7 0 , 6 9 8 - 1 , 4 7 0 , 6 9 8 - 7 0 5 TE X A S C A P I T A L B A N K 0 . 2 5 3 / 8 / 2 0 1 2 9 / 8 / 2 0 1 1 3 / 8 / 2 0 1 2 - 1 , 4 7 1 , 6 8 9 - 1 , 4 7 1 , 6 8 9 2 2 2 Su b T o t a l / A v e r a g e 4 4 C a p i t a l P r o j e c t s F u n d 4 , 3 0 6 , 4 2 9 1 , 4 7 2 , 1 8 9 1 , 4 7 0 , 6 9 8 4 , 3 0 7 , 9 1 9 1 , 4 2 6 TE X A S D A I L Y L G I P N / A N / A 8 7 - - 8 7 - TE X P O O L L G I P N / A N / A 1 , 2 0 4 , 8 5 9 2 4 6 - 1 , 2 0 5 , 1 0 5 2 4 6 Te x S T A R L G I P N / A N / A 5 0 , 0 8 6 1 1 - 5 0 , 0 9 7 1 1 Su b T o t a l / A v e r a g e 4 5 S e l f I n s u r a n c e F u n d 1 , 2 5 5 , 0 3 2 2 5 7 - 1 , 2 5 5 , 2 8 8 2 5 7 TE X P O O L L G I P N / A N / A 1 8 7 , 5 0 5 6 0 0 , 1 2 5 - 7 8 7 , 6 3 1 1 2 5 Te x S T A R L G I P N / A N / A 3 1 2 , 7 2 5 6 8 - 3 1 2 , 7 9 3 6 8 Vi e w P o i n t B a n k 0 . 8 5 7 / 2 9 / 2 0 1 1 7 / 2 9 / 2 0 1 0 7 / 2 9 / 2 0 1 1 1 , 1 4 8 , 8 8 5 - 1 , 1 4 8 , 8 8 5 - 7 7 6 Vi e w P o i n t B a n k 0 . 3 5 / 2 5 / 2 0 1 2 7 / 2 9 / 2 0 1 1 5 / 2 5 / 2 0 1 2 - 1 , 1 5 7 , 9 2 9 - 1 , 1 5 7 , 9 2 9 6 0 0 FH L B 0 . 8 5 7 / 2 6 / 2 0 1 2 - 1 1 7 / 2 6 / 2 0 1 0 7 / 2 6 / 2 0 1 2 1 , 0 0 0 , 0 0 0 - 1 , 0 0 0 , 0 0 0 - 6 1 4 FF C B 0 . 5 1 1 / 1 8 / 2 0 1 3 - 1 1 8 / 1 8 / 2 0 1 1 1 1 / 1 8 / 2 0 1 3 - 1 , 0 0 0 , 0 0 0 - 1 , 0 0 0 , 0 0 0 5 8 3 Su b T o t a l / A v e r a g e 4 7 E q u i p m e n t S e r v i c e s F u n d 2 , 6 4 9 , 1 1 4 2 , 7 5 8 , 1 2 3 2 , 1 4 8 , 8 8 5 3 , 2 5 8 , 3 5 2 2 , 7 6 6 To t a l / A v e r a g e 55 , 3 2 0 , 3 0 3 $ 1 6 , 4 0 8 , 7 9 1 $ 1 8 , 3 4 2 , 7 6 1 $ 5 3 , 3 8 6 , 5 0 3 $ 4 9 , 5 7 3 $ 47 E q u i p m e n t S e r v i c e s F u n d 04 S a n i t a t i o n F u n d 15 S W H E A F u n d 42 C a p i t a l P r o j e c t s 44 C a p i t a l P r o j e c t s F u n d 45 S e l f I n s u r a n c e F u n d CU P 4 Q F Y 1 1 9 - 3 0 - 2 0 1 1 . x l s x 2 T r a c k e r T r a n s a c t i o n 0 9 3 0 2 0 1 1 1 0 / 2 6 / 2 0 1 1 8 : 0 9 A M Page 2 of 2Page 14 of 80 AGENDAMEMO (11/1/2011AGENDA) TO:HonorableMayorandCityCouncil FROM:GaryW.Adams,ChiefofPolice SUBJECT:CONSIDERANDACT:onarequestbySMUKappaAlphaThetaSororityto conduct5kraceoncertaincitystreets BACKGROUND: TheSMUKappaAlphaThetaSororityisconducting a5KracetoraisefundsfortheDallasCourt AppointedSpecialAdvocates(CASA),alocalnon-pro fitorganizationprovidingvolunteerswhoare voicesforabusedchildrenincourt. Theproposedrouteissituatedprimarilyonthecam pusofSouthernMethodistUniversity,butdoes includecertainresidentialstreetsthroughUnivers ityPark.Theraceisplannedtostartat7:00a.m .on Saturday,November5thwithananticipatedfinisht imeof9:30a.m.Therearecurrently46 participantsregisteredtoparticipateinthiseven t. ThePoliceDepartmenthasapprovedtheroute;andd uetothetimeofday,doesnotanticipateany trafficrelatedissues. RECOMMENDATION: Staffrecommendsapprovaloftherequesttousecer taincitystreetsduringthisrun. ATTACHMENTS: SMUThetaRaceRequestEmail SMUThetaRaceRoute DayofRacePlan Page 15 of 80 Page 16 of 80 Page 17 of 80 Page 18 of 80 AGENDAMEMO (11/1/2011AGENDA) TO:HonorableMayorandCityCouncil FROM:GeneR.Smallwood,P.E.,DirectorofPublicWorks SUBJECT:CONSIDERANDACT:onarequestfor"2-Hour"parkingalongthe6400blockof Thackery BACKGROUND: Staffreceivedarequestfor"2-Hour/Mondaythru Friday/8a.m.to5p.m."parkingalongthe6400 blockofThackery(botheastandwestcurblines).Allabuttingpropertyownerssignedapetitionin favoroftherequest. TheCityAttorneydevelopedtheenablingordinance forCouncilconsideration. RECOMMENDATION: Staffhasnoobjectiontotherequest. ATTACHMENTS: PETITION SITEMAP ORDINANCE-2hrpkg6400Thackery Page 19 of 80 Petition for Change of Parking Designation We, the Citizens of the side street of Thackery between McFarlin Blvd. and University Blvd. in University Park, Texas, petition the City of University Park to establish parking regulations on the side street of Thackery between McFarlin Blvd. and University Blvd. Specifically, we request that the City establish 2-hour parking on Monday through Friday from 8 a.m. to 5 p.m. except on holidays. By signing this Petition, the Citizens residing on the side street of Thackery between McFarlin Blvd. and University Blvd. affirm that they support this change of parking designation. Bev Cavitt 3548 McFarlin Blvd Sally and Chris Pfeiffer 3551 UniversityBlvd ,') 'l'i ic'(l'L( / (--' I ,t- //0/z=/r, Jane and John 3&0 McFarlin Cockrell Blvd to /b3 /rr Mrs Jodie Sclater 3601 University Blvd Page 20 of 80 Page 21 of 80 ORDINANCE NO. ___________ AN ORDINANCE OF THE CITY OF UNIVERSITY PARK, TEXAS, PROHIBITING PARKING ON EITHER SIDE OF THACKERY BETWEEN MC FARLIN AND UNIVERSITY IN EXCESS OF TWO HOURS AT ANY TIME FROM 8:00 A. M. TO 5:00 P.M., MONDAY THROUGH FRIDAY, EXCEPT HOLIDAYS; PROVIDING FOR THE ERECTION OF SIGNS; PROVIDING FOR THE REPEAL OF ALL ORDINANCES IN CONFLICT; PROVIDING A SEVERABILITY CLAUSE; PROVIDING FOR A PENALTY OF FINE NOT TO EXCEED THE SUM OF TWO HUNDRED DOLLARS ($200.00) FOR EACH OFFENSE; AND PROVIDING AN EFFECTIVE DATE. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF UNIVERSITY PARK, TEXAS: SECTION 1. That it shall be unlawful and an offense for any person to leave, stand or park any motor vehicle on either side of Thackery between Mc Farlin and University, as shown on Exhibit “A” attached hereto and made part hereof for all purposes, in excess of two hours at any time from 8:00 a. m. to 5:00 p. m., Monday through Friday, except holidays. SECTION 2. That all ordinances of the City of University Park in conflict with the provisions of this ordinance are hereby repealed. SECTION 3. That should any sentence, paragraph, subdivision, clause, phrase or section of this ordinance be adjudged or held to be unconstitutional, illegal, or invalid, the same shall not affect the validity of this ordinance as a whole, or any part or provision thereof, other than the part decided to be invalid, illegal or unconstitutional. SECTION 4. That any person violating any of the provisions of this ordinance shall be deemed guilty of a misdemeanor and, upon conviction in the municipal court of the City of University Park, Texas, shall be subject to a fine not to exceed the sum of two hundred dollars ($200.00) for each offense. Page 22 of 80 SECTION 7. That this ordinance shall take effect immediately from and after its passage and the publication of the caption, as the law and Charter in such cases provide. The parking restrictions set out herein shall not be effective until appropriate signs giving notice thereof shall have been erected as provided by the Code of Ordinances. DULY PASSED by the City Council of the City of University Park, Texas, on the 1st day of November 2011. APPROVED: ____________________________________ W. RICHARD DAVIS, MAYOR ATTEST: ____________________________________ ELIZABETH SPECTOR, CITY SECRETARY APPROVED AS TO FORM: _______________________________ CITY ATTORNEY (RLD/10-27-11/52097) Page 23 of 80 ORDINANCE NO. ___________ AN ORDINANCE OF THE CITY OF UNIVERSITY PARK, TEXAS, PROHIBITING PARKING ON EITHER SIDE OF THACKERY BETWEEN MC FARLIN AND UNIVERSITY IN EXCESS OF TWO HOURS AT ANY TIME FROM 8:00 A. M. TO 5:00 P.M., MONDAY THROUGH FRIDAY, EXCEPT HOLIDAYS; PROVIDING FOR THE ERECTION OF SIGNS; PROVIDING FOR THE REPEAL OF ALL ORDINANCES IN CONFLICT; PROVIDING A SEVERABILITY CLAUSE; PROVIDING FOR A PENALTY OF FINE NOT TO EXCEED THE SUM OF TWO HUNDRED DOLLARS ($200.00) FOR EACH OFFENSE; AND PROVIDING AN EFFECTIVE DATE. DULY PASSED by the City Council of the City of University Park, Texas, on the 1st day of November 2011. APPROVED: ____________________________________ MAYOR ATTEST: ____________________________________ CITY SECRETARY Page 24 of 80 EXHIBIT “A" Page 25 of 80 AGENDAMEMO (11/1/2011AGENDA) TO:HonorableMayorandCityCouncil FROM:GeneR.Smallwood,P.E.,DirectorofPublicWorks SUBJECT:CONSIDERANDACT:onarequestfromDiverestaurant fortwoshort-termparking spacesalongthe3400blockofRankin BACKGROUND: StaffreceivedarequestfromDiveRestaurantinSn iderPlazafortwo"15-Minute"parkingspaces alongtheirRankinfrontagefortheircustomers'co nvenienceinpickingup"togo"orders.Thereare severalbusinessesinSniderPlazawithsimilarsho rttermspaces. TheCityAttorneydevelopedtheenablingordinance forCouncilconsideration. RECOMMENDATION: Staffhasnoobjectiontotherequest. ATTACHMENTS: PETITION SITEMAP ORDINANCE-15-minPkgRankin Page 26 of 80 From:franchesca nor To:Bud Smallwood Subject:Re: Dive Coastal Cuisine to-go parking Date:Wednesday, October 19, 2011 10:00:47 AM Hello again! Wow, time really got away from me...I could have sworn I sent this email weeks ago, obviously I did not. We would like the first two spaces (closest to Bank of America) designated as 10-15 min parking, please. Guess we missed the october meetings so we'll try to get on the next one. Thanks again for your help with this matter. Let me know what else I can do to help! Erin On Wed, Sep 21, 2011 at 6:41 PM, Bud Smallwood <bsmallwood@uptexas.org> wrote: Erin Thanks for the e-mail. I have not previously had any inquiries regarding the need for "short-term: parking designations adjacent to the storefront. Although, about a month ago, John Jackson mentioned that someone from Dive might be contacting me regarding the matter. Proceedurly, all I need is which one or two spaces you want designated as "10- minute" (???) space/s. With that information, I'll ask the City Attorney to develop the requisite ordinance, which will then be placed on the City Council agenda. The specific information must be forwarded to me ten days in advance of the Council meeting. The next two meetings are October 4th and 18th. Please keep in mind that short term spaces are generally considered unenforcable. The Police Department does not have enough staff to monitor those spaces. Drivers will typically comply with a marked space, however, there may be times when a call to the PD is necessary.. Please contact me with any questions. Thanks Bud Gene R. "Bud" Smallwood, P.E. Director of Public Works Direct phone: 214.987.5400 E-Mail bsmallwood@uptexas.org ________________________________ From: franchesca nor [mailto:dallasdive@gmail.com] Page 27 of 80 Sent: Wed 9/21/2011 5:45 PM To: Bud Smallwood Subject: Dive Coastal Cuisine to-go parking Hello Mr. Smallwood, My name is Erin, I am Franchesca Nor's assistant. I am writing you in hopes that you can help me set up a few to-go parking spots for our Dive guests. I know our management has taken steps towards getting these in the past, but nothing has been finalized. Can we schedule a day to attend a town meeting to make our request? Or is there someone I should send a copy of our lease to in order to confirm that the spots are within our property lines? Any guidance you could provide me with on acquiring these parking spots would be greatly appreciated!! Franchesca is eager to get them so we can better accommodate our on-the-go guests. I'm sure you've battled Snider Plaza parking before and can understand the urgency for those people in a rush. Thank you so much for your time and knowledge on the matter. I look forward to hearing from you! Erin -- Franchesca Nor DIVE coastal cuisine Chef / Owner -- Franchesca Nor DIVE coastal cuisine Chef / Owner Page 28 of 80 Page 29 of 80 ORDINANCE NO. ___________ AN ORDINANCE OF THE CITY OF UNIVERSITY PARK, TEXAS, PROHIBITING PARKING IN EXCESS OF FIFTEEN MINUTES IN TWO PARKING SPACES ON THE NORTH SIDE OF THE 3400 BLOCK OF RANKIN; PROVIDING FOR THE ERECTION OF SIGNS; PROVIDING FOR THE REPEAL OF ALL ORDINANCES IN CONFLICT; PROVIDING A SEVERABILITY CLAUSE; PROVIDING FOR A PENALTY OF FINE NOT TO EXCEED THE SUM OF TWO HUNDRED DOLLARS ($200.00) FOR EACH OFFENSE; AND PROVIDING AN EFFECTIVE DATE. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF UNIVERSITY PARK, TEXAS: SECTION 1. That it shall be unlawful and an offense for any person to leave, stand or park any motor vehicle on the two parking spaces designated on Exhibit “A”, attached hereto and made part hereof for all purposes, on the north side of the 3400 block of Rankin in excess of fifteen minutes at any time. SECTION 2. That all ordinances of the City of University Park in conflict with the provisions of this ordinance are hereby repealed. SECTION 3. That should any sentence, paragraph, subdivision, clause, phrase or section of this ordinance be adjudged or held to be unconstitutional, illegal, or invalid, the same shall not affect the validity of this ordinance as a whole, or any part or provision thereof, other than the part decided to be invalid, illegal or unconstitutional. SECTION 4. That any person violating any of the provisions of this ordinance shall be deemed guilty of a misdemeanor and, upon conviction in the municipal court of the City of University Park, Texas, shall be subject to a fine not to exceed the sum of two hundred dollars ($200.00) for each offense. Page 30 of 80 SECTION 5. That this ordinance shall take effect immediately from and after its passage and the publication of the caption, as the law and Charter in such cases provide. The parking restrictions set out herein shall not be effective until appropriate signs giving notice thereof shall have been erected as provided by the Code of Ordinances. DULY PASSED by the City Council of the City of University Park, Texas, on the 1st day of November 2011. APPROVED: ____________________________________ W. RICHARD DAVIS, MAYOR ATTEST: ____________________________________ ELIZABETH SPECTOR, CITY SECRETARY APPROVED AS TO FORM: _______________________________ CITY ATTORNEY (RLD/10-27-11/52103) Page 31 of 80 ORDINANCE NO. ___________ AN ORDINANCE OF THE CITY OF UNIVERSITY PARK, TEXAS, PROHIBITING PARKING IN EXCESS OF FIFTEEN MINUTES IN TWO PARKING SPACES ON THE NORTH SIDE OF THE 3400 BLOCK OF RANKIN; PROVIDING FOR THE ERECTION OF SIGNS; PROVIDING FOR THE REPEAL OF ALL ORDINANCES IN CONFLICT; PROVIDING A SEVERABILITY CLAUSE; PROVIDING FOR A PENALTY OF FINE NOT TO EXCEED THE SUM OF TWO HUNDRED DOLLARS ($200.00) FOR EACH OFFENSE; AND PROVIDING AN EFFECTIVE DATE. DULY PASSED by the City Council of the City of University Park, Texas, on the 1st day of November 2011. APPROVED: ____________________________________ MAYOR ATTEST: ____________________________________ CITY SECRETARY Page 32 of 80 EXHIBIT “A” Page 33 of 80 AGENDAMEMO (11/1/2011AGENDA) TO:HonorableMayorandCityCouncil FROM:GeneR.Smallwood,DirectorofPublicWorks SUBJECT:CONSIDERANDACT:onarequestfromParkCitiesAnimalHospitaltode signate oneparkingspace"30-Minute"parking BACKGROUND: StaffrecentlyreceivedarequestfromParkCities AnimalHospitalforoneparkingspacealongtheir Armstrongfrontage(firstspacesouthofLoversLan e)tobedesignated"30-Minute"parking.Dr. Blackindicatedthathiscustomersneedashort-ter mspacefordropoffandpickupuses. TheremainingspacesalongArmstrongcurrentlyhave noparkinglimitdesignation.TheCity AttorneyprovidedtheenablingordinanceforCounci lconsideration. RECOMMENDATION: Staffisnotopposedtotherequest. ATTACHMENTS: PETITION PETITION2 SITEMAP ORDINANCE-30minpkg7000Armstrong Page 34 of 80 From:Kelley Parrish To:Bud Smallwood Cc:Karl Black Subject:30 minute parking Date:Wednesday, October 26, 2011 2:02:53 PM Good Afternoon, You spoke to Dr Karl Black earlier today concerning getting the parking directly in front of our building at 4365 Lovers Lane changed from 2 hour to 30 minutes. This would be beneficial for our clients as there are many instances when they are here for a short time period. The first 2 parking areas are of particular interest for our business. Thank you for your time and consideration. Kelley Parrish Park Cities Animal Hospital 4365 Lovers Lane Dallas, TX 75225 Phone: (214) 368-8573 Fax: (214) 696-1620 email: kelley@parkcitiesanimalhospital.com www.parkcitiesanimalhospital.com Page 35 of 80 From:Kelley Parrish To:Bud Smallwood Subject:RE: 30 minute parking Date:Wednesday, October 26, 2011 4:03:17 PM I apologize that is correct for the one Kelley Parrish Park Cities Animal Hospital 4365 Lovers Lane Dallas, TX 75225 Phone: (214) 368-8573 Fax: (214) 696-1620 email: kelley@parkcitiesanimalhospital.com www.parkcitiesanimalhospital.com -------- Original Message -------- Subject: RE: 30 minute parking From: "Bud Smallwood" <bsmallwood@uptexas.org> Date: Wed, October 26, 2011 2:59 pm To: "Kelley Parrish" <kelley@parkcitiesanimalhospital.com> Ms Parrish: Just a point of clarification. When I talked this morning to Dr. Black, I understood his request for a single 30 minute space immediately south of your main door along the east side of Armstrong. Please confirm. Thanks Bud Gene R. “Bud” Smallwood, P.E. Director of Public Works Direct Phone: 214.987.5400 E-Mail: bsmallwood@uptexas.org From: Kelley Parrish [mailto:kelley@parkcitiesanimalhospital.com ] Sent: Wednesday, October 26, 2011 2:01 PM To: Bud Smallwood Cc: Karl Black Subject: 30 minute parking Page 36 of 80 Good Afternoon, You spoke to Dr Karl Black earlier today concerning getting the parking directly in front of our building at 4365 Lovers Lane changed from 2 hour to 30 minutes. This would be beneficial for our clients as there are many instances when they are here for a short time period. The first 2 parking areas are of particular interest for our business. Thank you for your time and consideration. Kelley Parrish Park Cities Animal Hospital 4365 Lovers Lane Dallas, TX 75225 Phone: (214) 368-8573 Fax: (214) 696-1620 email: kelley@parkcitiesanimalhospital.com www.parkcitiesanimalhospital.com Page 37 of 80 Page 38 of 80 ORDINANCE NO. ___________ AN ORDINANCE OF THE CITY OF UNIVERSITY PARK, TEXAS, PROHIBITING PARKING IN EXCESS OF THIRTY MINUTES IN ONE PARKING SPACE ON THE EAST SIDE OF THE 7000 BLOCK OF ARMSTRONG; PROVIDING FOR THE ERECTION OF SIGNS; PROVIDING FOR THE REPEAL OF ALL ORDINANCES IN CONFLICT; PROVIDING A SEVERABILITY CLAUSE; PROVIDING FOR A PENALTY OF FINE NOT TO EXCEED THE SUM OF TWO HUNDRED DOLLARS ($200.00) FOR EACH OFFENSE; AND PROVIDING AN EFFECTIVE DATE. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF UNIVERSITY PARK, TEXAS: SECTION 1. That it shall be unlawful and an offense for any person to leave, stand or park any motor vehicle on the parking space designated on Exhibit “A”, attached hereto and made part hereof for all purposes, on the east side of the 7000 block of Armstrong in excess of thirty minutes at any time. SECTION 4. That all ordinances of the City of University Park in conflict with the provisions of this ordinance are hereby repealed. SECTION 5. That should any sentence, paragraph, subdivision, clause, phrase or section of this ordinance be adjudged or held to be unconstitutional, illegal, or invalid, the same shall not affect the validity of this ordinance as a whole, or any part or provision thereof, other than the part decided to be invalid, illegal or unconstitutional. SECTION 6. That any person violating any of the provisions of this ordinance shall be deemed guilty of a misdemeanor and, upon conviction in the municipal court of the City of University Park, Texas, shall be subject to a fine not to exceed the sum of two hundred dollars ($200.00) for each offense. Page 39 of 80 SECTION 7. That this ordinance shall take effect immediately from and after its passage and the publication of the caption, as the law and Charter in such cases provide. The parking restrictions set out herein shall not be effective until appropriate signs giving notice thereof shall have been erected as provided by the Code of Ordinances. DULY PASSED by the City Council of the City of University Park, Texas, on the 1st day of November 2011. APPROVED: ____________________________________ W. RICHARD DAVIS, MAYOR ATTEST: ____________________________________ ELIZABETH SPECTOR, CITY SECRETARY APPROVED AS TO FORM: _______________________________ CITY ATTORNEY (RLD/10-27-11/52104) Page 40 of 80 ORDINANCE NO. ___________ AN ORDINANCE OF THE CITY OF UNIVERSITY PARK, TEXAS, PROHIBITING PARKING IN EXCESS OF THIRTY MINUTES IN ONE PARKING SPACE ON THE EAST SIDE OF THE 7000 BLOCK OF ARMSTRONG; PROVIDING FOR THE ERECTION OF SIGNS; PROVIDING FOR THE REPEAL OF ALL ORDINANCES IN CONFLICT; PROVIDING A SEVERABILITY CLAUSE; PROVIDING FOR A PENALTY OF FINE NOT TO EXCEED THE SUM OF TWO HUNDRED DOLLARS ($200.00) FOR EACH OFFENSE; AND PROVIDING AN EFFECTIVE DATE. DULY PASSED by the City Council of the City of University Park, Texas, on the 1st day of November 2011. APPROVED: ____________________________________ MAYOR ATTEST: ____________________________________ CITY SECRETARY Page 41 of 80 EXHIBIT “A” Page 42 of 80 AGENDAMEMO (11/1/2011AGENDA) TO:HonorableMayorandCityCouncil FROM:LizSpector,CitySecretary SUBJECT:CONSIDERANDACT:onaresolutionacceptingtheresignationofRaymon dD. NoahfromtheDallasAreaRapidTransit(DART)Boar dofDirectorsandaffirming theappointmentofGaryA.Slageltocompletethet ermendingJuly1,2012asthe City'ssharedrepresentative BACKGROUND: TheCitysharesrepresentationontheDARTBoardof DirectorswiththemunicipalitiesofAddison, HighlandPark,andRichardson.RaymondD.Noah,ou rlongtimerepresentative,hastenderedhis resignationforthetermendingJuly1,2012effect iveimmediately.TheCityofRichardsonhas nominatedGaryA.Slagel,theformermayoroftheC ityofRichardson,tocompletethisterm asoursharedrepresentative. MayorDavis,CityManagerLivingston,HighlandPark MayorBillSeayandTownManagerBill LindleymetwithMr.SlagelonOctober24todiscus shisappointment. RECOMMENDATION: IftheCouncilconcurswiththisnomination,theys houldapprovetheresolutionacceptingMr.Noah's resignationandappointingMr.Slageltocompleteh istermontheDARTBoardofDirectors. ATTACHMENTS: DCADBoardofDirectorsResolution Page 43 of 80 RESOLUTION NO. _______ A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF UNIVERSITY PARK, TEXAS, ACCEPTING THE RESIGNATION OF RAYMOND D. NOAH AND AFFIRMING THE APPOINTMENT OF GARY A. SLAGEL TO THE AGGREGATED POSITION OF REPRESENTATIVE TO THE DALLAS AREA RAPID TRANSIT (DART) BOARD OF DIRECTORS, WHICH FRACTIONAL ALLOCATION MEMBERSHIP IS SHARED WITH THE CITY OF RICHARDSON AND THE TOWNS OF ADDISON AND HIGHLAND PARK; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the Texas Transportation Code, Section 452.573, authorizes cities having a fractional allocation for board membership to aggregate their populations in order to appoint a member of the board of the rapid transit authority; and WHEREAS, the Cities of University Park and Richardson and the Towns of Addison and Highland Park have mutually agreed to aggregate population for the selection of a DART Board Member; and WHEREAS, Raymond D. Noah has tendered his resignation for the term ending July 1, 2012; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF UNIVERSITY PARK, TEXAS: SECTION 1: That the resignation of Raymond D. Noah is hereby accepted. SECTION 2: That the City Council of the City of University Park hereby concurs with and affirms the appointment of Gary A. Slagel as the City’s representative on the DART Board of Directors as selected by the City of Richardson to complete the term ending July 1, 2012. SECTION 3: That this resolution shall become effective immediately from and after its passage. DULY PASSED AND APPROVED by the City Council of the City of University Park, Texas, on this the 1st day of November, 2011. APPROVED: ________________________________ W. RICHARD DAVIS, MAYOR ATTEST: __________________________________ CITY SECRETARY APPROVED AS TO FORM: _______________________________ CITY ATTORNEY Page 44 of 80 AGENDAMEMO (11/1/2011AGENDA) TO:HonorableMayorandCityCouncil FROM:LizSpector,CitySecretary SUBJECT:CONSIDERANDACT:onminutesoftheOctober18,201 1CityCouncilMeeting BACKGROUND: MinutesoftheOctober18,2011CityCouncilMeetin gareattachedfortheCouncil'sreview. ATTACHMENTS: 2011.10.18CCMtgMin Page 45 of 80 MINUTES AGENDA #2823 CITY COUNCIL MEETING CITY OF UNIVERSITY PARK, TEXAS COUNCIL CHAMBER – CITY HALL TUESDAY, OCTOBER 18, 2011, 5:00 P.M. 3:30 - 4:00 P.M. EXECUTIVE SESSION THE COUNCIL CONVENED UNDER TEXAS GOVERNMENT CODE 551.072 FOR DELIBERATION REGARDING A REQUEST TO ABANDON THE HAYNIE/DANIEL ALLEY TO THE ADJACENT PROPERTY OWNER. NO ACTION WAS TAKEN. EXECUTIVE CONFERENCE ROOM, FIRST FLOOR, CITY HALL. 4:00 - 5:00 P.M. WORK SESSION FOR AGENDA REVIEW COUNCIL CONFERENCE ROOM, SECOND FLOOR, CITY HALL. The Regular City Council Meeting was called into session at 5:00 p.m. in the Council Chamber at City Hall. Present were Councilmember Stewart, Mayor Pro Tem Grable, Mayor Davis, Councilmember Clark, and Councilmember Begert. Also in attendance were City Manager Livingston, and City Attorney Dillard. There were several Boy Scouts in attendance. They included: Grayson Buckholtz, Troop 80, Communications merit badge; Zach Ridings, Troop 80, Communications merit badge; Harrison Nichol, Troop 125, Communications merit badge; Garner Newton, Troop 80, Communications merit badge; Chase Bufkin, Troop 80, Communications merit badge. Boy Scouts who came later to the meeting included: Alex Risel, Troop 80, Communications merit badge; Parker Kirby, Troop 720, Citizenship in the Community merit badge; and, Brian Buckenham, Troop 730, Citizenship in the Community merit badge. Mayor Davis thanked them for attending the meeting. Mayor Davis recognized former Mayor James H. "Blackie" Holmes, former Councilmember Jim Roberts, and former Highland Park Town Councilmember George Reynolds who were in the audience. Staff in attendance included: Community Information Officer Steve Mace, Administrative Intern George Ertle, Chief of Police Gary Adams, Director of Public Works Bud Smallwood, City Secretary Liz Spector, Fire Chief Randy Howell, Director of Community Development Robbie Corder, Director of Parks Gerry Bradley, Purchasing Agent Christine Green and Assistant Director of Public Works Jacob Speer. I. CALL TO ORDER A. INVOCATION: Fire Chief Randy Howell B. PLEDGE OF ALLEGIANCE: Fire Chief Randy Howell / Boy Scouts C. INTRODUCTION OF COUNCIL: Mayor W. Richard Davis D. INTRODUCTION OF STAFF: City Manager Bob Livingston Page 46 of 80 In appreciation of his gift to the City of a gavel used to close the 73rd Legislature by Lt. Gov. Bob Bullock in 1993, Mayor Davis presented Dr. Kent Beasley with a proclamation. Mayor Davis also presented Dr. Beasley with a proclamation for Ms. Jan Felts Bullock, widow of former Lt. Governor Bob Bullock. This item approves the final payment of $92,705.93 to Barson Utility Company for completion of Project 47016. The final payment of $20,494.93 was approved to Blastco Texas for repairs and maintenance to the Fondren elevated water storage tank. This payment includes Changes Orders 1 and 2 and was reduced by $35,646.83 for assessments charged to the contractor for delayed completion. This item approves the purchase of two 2012 Chevrolet C3500 trucks from Caldwell Country via state contract in the amount of $58,331.00 for the Infrastructure Maintenance Division. Councilmember Clark made a motion to approve the Consent Agenda. Councilmember Stewart seconded, and the motion carried unanimously. Mayor Davis said the Council received a request from Ms. Dominique Miller, 4308 Druid, to allow residents to raise backyard chickens. He asked Ms. Miller to the lectern. Ms. Miller said she feels very strongly that if the Council allows backyard hens it would have a positive effect on residents. She said the chickens are not livestock. She stated that she is not asking that roosters be allowed and she also suggested that the Council II. AWARDS AND RECOGNITION A. PROCLAMATION: To recognize contribution of gavel to City by Dr. Kent Beasley and Jan Felts Bullock III. CONSENT AGENDA A. CONSIDER AND ACT: on final payment to Barson Utility Company for water, sanitary sewer, and paving improvements on project 47016 B. CONSIDER AND ACT: on final payment to BLASTCO Texas for renovation of the Fondren elevated water storage tank C. CONSIDER AND ACT: on the state contract purchase of two 2012 Chevy C3500 trucks for the Infrastructure Maintenance Division D. CONSIDER AND ACT: on minutes of the October 4, 2011 City Council Meeting IV. MAIN AGENDA A. CONSIDER AND ACT: on resident request to amend Section 2.01.005 of the Code of Ordinances to allow backyard hens Page 47 of 80 could place limits on the number of hens or permit them like the city does dogs and cats. She said raising hens is a good experience for children as well as adults. She then asked Mr. Dan Probst, an expert in the field of backyard hens, to address the Council. Mr. Probst addressed the Council. He said he is familiar with both commercial and backyard poultry raising. Mr. Probst has been a licensed poultry breeder in the state for the past five years. He stated he provides technical support to several local school districts and private schools related to science chicken hatching programs. He said he has also worked with the cities of Dallas, Fort Worth and Irving on poultry ordinances and appropriate enforcement. Mr. Probst said that these types of chickens require only four square feet per bird to keep them in humane and sanitary conditions. He said that a hen in a backyard is more quiet than a dog or cat or even frogs. He stated that chickens are smaller and produce much less waste than pet dogs or cats and there is no odor difference. He said sanitation is dependent on the owner, just like dogs or cats. He said according to Centers of Disease Control in Atlanta, policies regarding disease transmittal and sanitary handling are the same for chickens, dogs and cats. He said bacterial risks are no different than that of other pets. Finally, Mr. Probst said there are federal and state standards that the poultry industry must abide by. He said backyard chickens are an ecologically friendly, family activity and he encouraged the Council to allow them. Mr. Tom Blackwell, 3833 Wentwood, addressed the Council. He stated his support for Ms. Miller's request. He suggested that the City ordinance regarding hens should be similar to the City of Dallas. He said Dallas allows pet hens with no roosters, among other restrictions. Mr. Blackwell said it would be good to include a prohibition on commercial uses, and allow schools to be exempt from city regulations. Ms. Sindy Smith, 3529 Rosedale, addressed the Council in support of Ms. Miller's request. She said backyard hen raising is the wave of the future and is part of an "eat local, eat organic" movement. She asked the Council to give residents the option of participating in this movement. Councilmember Clark asked Ms. Miller if she was aware of the ordinance prior to obtaining her hens. She said she was not aware. Councilmember Clark said this issue had been previously considered and the Council came to conclusion that it was not appropriate to allow chickens in the City due to residential lot sizes. He said that he is willing refer this issue to a citizen committee for careful study before making any final decision. Councilmember Clark made a motion to refer the resident request to amend Section 2.01.005 of the Code of Ordinances to allow backyard hens to a citizen committee for further study. Councilmember Stewart seconded, and the motion carried unanimously. City Manager Bob Livingston asked the Council to which committee they wanted to refer the issue. Councilmember Clark said he was unsure which committee would be Page 48 of 80 the most appropriate and said they would let staff know. Meeting attendees submitting sheets indicating their position as in favor of the request to allow backyard hens included: Laura Noe, 3948 Centenary; Jackie Brewer, 3132 Bryn Mawr; Kim Atkins, 3124 Bryn Mawr; D. Atkins, 3124 Bryn Mawr; Barbara Babb, 9054 Briarwood, Dallas; Ann Spillman, 3202 Cornell, Highland Park; Kirk Miller, 4308 Druid Lane; Karen Outland, 4405 Emerson; Rick Christenson, 2932 Rosedale; Ben Black, 3041 Rosedale; Alice Mamula, 4308 Druid; Karl Black, 4365 Lovers Lane; Terri Brittingham, 3919 Beverly Drive, Highland Park; Kathy Rogers, Rogers Wildlife Rehabilitation, Hutchins. No sheets were submitted indicating a position in opposition to the request for backyard hens. City Manager Livingston stated that during the work session, the Council indicated they wanted the Public Works Advisory Committee (PWAC) to review staff’s recommendations to revise the sidewalk replacement program before any changes were enacted. Mr. Livingston said staff agreed to take the issue to PWAC at its next meeting. There were no requests to address the Council from the floor and Mayor Davis adjourned the meeting. Considered and approved this 18th day of October, 2011. _______________________________ W. Richard Davis, Mayor ATTEST: ____________________________ Elizabeth Spector, City Secretary B. DISCUSS: staff recommendation to revise the current sidewalk replacement program and provide direction to staff V. ITEMS FROM THE FLOOR Page 49 of 80 AGENDAMEMO (11/1/2011AGENDA) TO:HonorableMayorandCityCouncil FROM:GeneR.Smallwood,P.E.,DirectorofPublicworks SUBJECT:CONSIDERANDACT:onarequestforreimbursementofexpensesresultin gfroma sanitarysewerbackupat2927LoversLane BACKGROUND: AttheOctober4CityCouncilmeeting,thehomeowne rof2927LoversLanerequestedtheCity reimburseexpensessheincurredfollowingasanitar ysewerbackupintoherresidence.Follwingthat discussion,theCouncilrequestedadditionaltimet oreviewthematter,anddeferredactiontoafutur e meeting.StaffhasnowprovidedtheCouncilwithm oredefinitiveinformation,andwillalsoprovide adetailedpresentationattheNovember1CouncilM eeting. RECOMMENDATION: ThehomeownerfiledaninsuranceclaimwiththeCit y,andtheCity'sinsurancecarrier,TML,denied theclaimbasedongovernmentalimmunity.Thehom eownerthenrequestedtheCitywaive governmentalimmunityandpaytheclaim.Staffrec ommendsthattheCityCouncilnotwaive governmentalimmunityinthismatteranddenytheh omeowner'srequest. ATTACHMENTS: SSCollection(BEFORE) SSCollection(AFTER) Page 50 of 80 Page 51 of 80 Cut & Plug Main Page 52 of 80 AGENDAMEMO (11/1/2011AGENDA) TO:HonorableMayorandCityCouncil FROM:GeneR.Smallwood,P.E.,DirectorofPublicWorks SUBJECT:CONSIDERANDACT:onarequesttoabandonacertain alleyright-of-way BACKGROUND: StaffreceivedarequestfromrepresentativesofLe gacyHillcrestInvestmentstoabandonthealley right-of-way(R-O-W)immediatelywestof6517Hillcrest.Thesubject alleyrunsparalleltoHillcrest andbetweenHaynieandDaniel. IftheCouncilshouldabandontheR-O-W,staffsugg eststhatthedeveloperberesponsiblefor relocationand/orabandonmentofallpublicandpri vateutilities. Theappraisedvalueofthesubjecttract(perAppra isal,Brokerage&Consultingreport09.17.11)is $281,000,basedonaunitcostpersquarefootof$125.Theareaofthealleyis2,250squarefeet. RECOMMENDATION: StaffrequestsdirectionfromtheCityCouncilont hismatter. ATTACHMENTS: ALLEYR-O-WSURVEY APPRAISALEXCERPTS Page 53 of 80 Page 46 of 72Page 54 of 80 Page 47 of 72Page 55 of 80 #,#p#&re^{- &ffiK&*A## & ffi{,rgtg{W{it& C&, C. S. "Chuck" Mullinax, MAI P. O. Box 794774 Dallas, Texas 75379 A, SUMMARY APPRATSAL REPORT OF TWO PARCELS OF LAND LOCATED ADJACENT TO THE SOUTHWEST CORNER OF HILLCREST & DANIEL AVENUES TO THE CIW OF UNIVERSITY PARK DALLAS COL'NTY, TEXAS PREPARED FOR THE CITY OF UNIVERSTTY PARK AS OF JUNE 6, 2077 REAL ESTATE APPRATSALS . PHONE (972) 3A0-OO75 . FAX (972) 4O7-1s18 csm mai@yahoo.com Page 56 of 80 A PftATgAL &frQK#NAG# & ffiNSgLT"t*f,G €A, f"l{1l; ,''a I I,l; 'I -ll' iilj i1"{ I C. S. "Chuck" Mullinax, MAI P. O. Box 794774 Dallas, Texas 75379 June 13, 2011 City of University Park 38OO University Boulevard Dallas, Texas 752O5-OOO5 Att: G.R. '*Bud" Smallwood, P.E., Director of Public Works Re: Summary Appraisal Report Abandonment of 2 parcels of land in or adjacent to the southwest corner of Hillcrest and Daniel Avenue {University Park Addition} to the City of University Park, Dallas County, Texas. Dear Mr. Smallwood; Pursuant to your instructions/ we have conducted the required investigation, gathered the necessary data and made certain analyses that have enabled us to form an opinion of market values for the "fee simple" interest. The attached Summary Appraisal Report sets forth findings and conclusions derived therefrom, together with photographs and exhibits that are considered essential to explain the processes followed in completing the report. Traditional valuation methodologies were applied and the report has been prepared in accordance with the FIRREA Act of 1989 (12 CFR 34.42) and in accordance with generally accepted appraisal standards promulgated by USPAP and the Appraisal Institute. Subject to the Assumptions and Limiting Conditions included in the body of this report, our final composite estimate of market value forthe "fee simple" interest in the respective parcels perthe June 6,2011date of this report is: $345,OOO.OO THREE HUNDRED FORTY FIVE THOUSAND DOLLARS Allocated as follows: REAL ESTATE APPRATSALS . PHONE (972) 380-OO7s . FA)( (972) 4O7-1s18 csm mai@yahoo.com Page 57 of 80 City of University Park page 2 Alley Abandonment $281,OOO Corner Clip 964,000 Composite Value of Both Parcels $345,OOO Respectfully, C. S. Mullinax, TX 1321048 G CSM/ejm L 051I27 D35 G PHONE (972) 380-OO7s . FAX (972) 4O7-t5L8 csm mai@yahoo.corn REAL ESTATE APPRAISALS . Page 58 of 80 have been redeveloped after the sale. Many of the sites were developed as branch banks during the banking explosion. Roadway Frontaoe /Accessi bil ity The subject parcel has excellent access and exposure, It has major frontage on both Hillcrest and lesser frontage on Daniel Avenue. The sales are all corners with good frontage on two streets and no adjustment is deemed necessary in this section. Zonino The subject is zoned "O-2" for Office development. All of the sales are zoned for high density commercial development. No adjustment is made in this category. Acreage Loss There is no apparent loss of land in any of the adjacent tracts. Public Service Utilities The subject is served with full utilities as are all of the sales. Therefore, there is no adjustment for the respective sales. Conclusions from Sales The adjusted indicators fall within a wide range from $64.68 to a high of $162.36/sf. Statistical analysis result in a mean of $I07.06/sf and and a modified mean after dropping the extremes of $I04.48/st. The best comparable in terms of size and location is Sale #7 which is at Preston and Mockingbird, That is also the highest indicator @ $1,62.36/sf. We will therefore give greater weight to that sale in our final analysis. Final Opinion of Value Based on our analysis, it is our opinion that the subject parcels have a market value of $125.00/sf. Hence: Alley abandonment 2,250 sf x $125.O0/sf say Corner Clip abandonment 512 sf x $125.OO/sf = 9281,250. $281,0O0 say $ 64,000. 64,000 $345,OOOTotal Page 34 Page 59 of 80 RECONCILIATION This appraisal assignment was to estimate the value of the subject property. The traditional valuation techniques have indicated the following values on an "as is"basis: INCOME APPROACH TO VALUE COST APPROACH TO VALUE SALES COMPARISON APPROACHTO VALUE N. A. N. A. ALLEY ABANDONMENT CORNER ABANDONMENT COMBINED ABANDONMENT $ 281,OOO $ 64,000 $345,OOO The subject property is a vacant tract and as such, the Income Approach is not applicable The Cost Approach is typically used to test feasibility for new construction and is also considered as a "benchmark" for comparison with the other approaches. This technique is the least relevant of the three in determining market value for an income-producing property. In this assignment, the Cost Approach was not applied due to the fact that this is an appraisal of raw land with no improvements. The Sales Comparison Approach is considered by most in the profession to be simply a crude method of estimating a range of values for the subject. In the case of raw land, it is the only meaningful approach to value. Adjustment to Value This section of the report usually addresses any penalties relative to reaching stabilized income levels, finish out costs to achieve that level and also any deferred maintenance noted on the property which was previously addressed as Physical Depreciation Curable. Once again, this assignment was to arrive at an opinion of value for a vacant tract of land, There are no applicable adjustments to the Market Approach presented above. Fair Value - A "fair value" definition was presented previously in this section of the report. It is quite similar to that definition for "market value" with the exception of a specific time frame for the consummation of a sale. The market value estimate presented in this report is based upon current comparables and the best marketplace data available to this office. Recognizing the quality of the real estate being appraised and marketplace influences analyzed throughout this report, it is our opinion that a marketing term is not applicable in this assignment. There is only one prospective user/purchaser for the subject parcels. Reconciliation Page 35 Page 60 of 80 Environmental Hazards Defined - This appraiser is not qualified to offer a professional opinion regarding potential environmental hazards. Our office does not maintain the resources necessary for determinations of this nature. From an informal perspective, we are unaware of any environmental influence or condition that would negatively affect the subject property, its marketability or future potential. Subject to the Assumptions and Limiting Conditions of this report, it is the appraiser's opinion that the subject has a value as of June 6,20LL: Alley Abandonment $281,OO0 TWO HUNDRED EIGHTY ONE THOUSAND DOLLARS CORNER CLIP $64,OOO SIXTY FOUR THOUSAND DOLLARS Respectfully, C. S. Mullinax, Reconciliation Page 36 Page 61 of 80 AGENDAMEMO (11/1/2011AGENDA) TO:HonorableMayorandCityCouncil FROM:KentR.Austin,DirectorofFinance SUBJECT:CONSIDERANDACT:onanordinanceoptingoutofgoo ds-in-transitexemption BACKGROUND: SenateBill1(SB1),approvedduringthefirstspec ialsessionofthe82ndTexasLegislaturethisyear , includedagoods-in-transitexemptionforgoodssto redinapublicwarehouse.Theexemption(from businesspersonalpropertytaxation)takeseffectJ anuary1,2012,unlessataxingentityvotestoopt outoftheexemption. AttachedisaletterfromtheDallasCentralApprai salDistrictandtheresultsofaninformalsurvey of northTexascitiesconductedbytheNorthCentralT exasCouncilofGovernments.Currently UniversityParkhasnopublicwarehouses,anditis unlikelyanywilllocateinthecity.Theareaea st ofU.S.75NorthCentralExpresswaybetweenFondren andDyerStreetsisoneofthefewareaswhere thiscouldpotentiallyoccur. Whileitappearstheexemptionwouldhavelittleor noimpactonUniversityParkrightnow, preservingthetaxabilityofgoodsinthefutureis prudent.Giventhecurrenteconomicclimate, maintainingorenhancingallrevenuesourcesisvit al.TheFinanceAdvisoryCommitteediscussed theexemptionissueattheirOctober13meetingand unanimouslyrecommendedtooptoutofthe exemption. AsofOctober26,DCADreportsthatfourentitiesh avetakenactiontooptout.Theattachedsurvey fromtheNCTCOGindicatesitislikelytherewillb emanymorecitiesoptingoutbeforeDecember 31,2011. RECOMMENDATION: CitystaffandtheFinanceAdvisoryCommitteerecom mendoptingoutofthegoods-in-transit exemption,sothatthegoodsremaintaxable.Thisa ctioncanberescindedatalaterdateifdesired. ATTACHMENTS: Ordinanceprovidingfortaxationofgoods-in-transi t LetterfromDCADre.SB1 NCTCOGSB1survey Page 62 of 80 ORDINANCE NO. ___________ AN ORDINANCE OF THE CITY OF UNIVERSITY PARK, TEXAS, PROVIDING FOR THE TAXATION OF GOODS-IN-TRANSIT; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, Senate Bill 1 passed by the 82nd Texas Legislature, First Called Special Session, inter alia, amended Section 11.253 of the Tax Code regarding the exemption for “Goods-in-Transit”; and WHEREAS, Section 11.253, Tax Code, was amended to prohibit a taxing unit from taxing Goods-in-Transit in a tax year that begins on or after January 1, 2012, unless the governing body of the taxing unit takes action on or after October 1, 2011, to provide for the taxation of the Goods-in-Transit; and WHEREAS, the City may choose to opt out of the local exemption for Goods-in-Transit by holding a public hearing and taking action to continue tax such goods on or after October 1, 2011, but prior to January 1, 2012; otherwise, such property will be exempt from taxation; and WHEREAS, the City Council has conducted a public hearing as required by Section 1-n (d), Article VIII, Texas Constitution, at which citizens were provided an opportunity to speak; NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF UNIVERSITY PARK, TEXAS: SECTION 1. That beginning in tax year 2012, and continuing thereafter until further action is taken by the City Council, “Goods-in-Transit”, as defined by the Texas Tax Code, Section 11.253, shall be subject to property taxation by the City. SECTION 2. That should any sentence, paragraph, subdivision, clause, phrase or section of this ordinance be adjudged or held to be unconstitutional, illegal or invalid, the same shall not affect the validity of this ordinance as a whole or any part or provision thereof other than the part thereof decided to be unconstitutional, illegal or invalid. SECTION 3. That this ordinance shall take effect immediately from and after its passage, as the law and Charter in such cases provide. Page 63 of 80 PASSED AND APPROVED by the City Council of the City of University Park, Texas, on the 1st day of November 2011. APPROVED: ____________________________________ W. RICHARD DAVIS, MAYOR APPROVED AS TO FORM: ATTEST: ________________________________ ____________________________________ CITY ATTORNEY LIZ SPECTOR, CITY SECRETARY (RLD/10-24-11/51971) Page 64 of 80 August 2,201 I. Kent Austin, Director of Finance City of University Park 3 800 University Blvd. University Park, Texas 75205 The First Special Session of the 82nd Session of the Texas Legislature adjourned on June 30, 20 1 1. Senate Bill 1 was passed and within this comprehensive budget bill was language amending the Property Tax Code as it concerns the goods-in-hamit exemption. This exemption was previously enad by the rnslahrre in 2007. The following excerpt hm the bill shows the changa: (2) "Goods-in-transi t" means tangible personal property that: (A) is acquired in or imported into this state to be forwarded to another location in this state or outside this state; (B) is stored under a contract of bailment by a pubIic warehouse operator at one or more public warehouse facilities in this state that are not in any way owned or controlled by the owner of the personal property for the account of the person who acquY-ed or imported the property; (C) is transported to another location in this state or outside this state not later than 175 days after the date the person acquired the property in or imported the property into this state; and (D) does not include oil, natural gas, petroleum products, aircraft, dealer's motor vehicle inventory, dealer's vessel and outboard motor inventory, deal& heavy equipment inventory, or retail manufactured housing inventory. (5) "Bailm" and "warehouse" have the meanings assigned by Section 7.102, Business & Commerce Code. (6) "Public warehouse operator" means n person that: (A) is bth a bailee and a warehouse; and (B) stores under a contract of bailment, at one or more public warehouse facilities, tangible personal property that is owned by other persons solely for the account of those persons and not for the operator's account, This bill mdifies HB 62 1 hm the 2007 Legislative Session to Mer limit the exemption by making it only applicable to gods that are stored in a pubic warehouse facility which is not ownd by the OfAceofChWAppraiser 2949 N. Skmmms Fmway, Ddb, Texas 75247 2144314520 dallascad.~ Page 65 of 80 person who owas the gods. I have attached a wpy of my letta fiom June 2007 that explained the origd gds-in-transit biH, HB 62 I. The amendment also quim that another vote be taken to opt out of the exemption Ween October 1,201 1 and December 31,201 1, in order to tax the goods for 2012. This is done by taking positive action to tax the gods before January 1,201 2 or by January 1 of any subsequent tax year of the first tax yw that the governing body propose to tax goods-in-transit. This must be done by official action of the governing body of the taxing unit. Before that can happen, the governing body of the taxing unit must wnduct a public haring. If the governing My of a tmmg unit provides for the taxation of the goods-in-transit as provided by this bill, the exemption prescribed does not apply to that unit. The goods-in-transit remain subject to taxation by the taxing unit until the governing body of the taxing unit, in the manner required for official action, kds or repeals its previous action to tax win- transit, or ootherwie detmmhes that the exemption will apply to that taxing unit. Based on the above, if your taxing unit does not act to tax these goods, they will become eligible for this exemption on January 1, 2012. In order to assist you in miking this decision, our office has prepared an estimate of the amount of value lost in your jurisdiction if you allow the gods to receive the exemption This estimate is based on 201 1 valua. I have also included a summary of how much value was lost in your jurisdiction to the existing Freeport law in 201 1. Remember if you chse to tax thw goods, you must act before January 1,2012. This includes allottmg enough time to wnduct the required public hdg. I am providing this letter to help your agency make an informed decision on this exemption. The Was Central Appraisal District has no position on this issue and will administer the exemption according to your wishes. Please review the information we have provided. If you have any questions feel free to contact me. W. Kenneth Nolan Executive DirectorlChief Appraiser Attachments Office of ChW Appraiser 2949 N. Stemmons Freaway, Dallas, Texas 75247 21 44314520 dallascad.org Page 66 of 80 Goods in Transit Possible loss in Addition to Freeport Loss Dallas County Addison Balch Springs Carrollton Cedar Hill Cockrell Hill Combine Coppell Dallas Desoto Duncanville Farmers Branch Ferris Garland Glen Heights Grand Prairie Grapevine HighIand Park Hutchins Irving Lancaster Lewisville Mesquite Ovilla Richardson Rowlett Sachse Seagoville Sunnyvale University Park Wilmer Wylie Carrollton Farmers Branch Cedar Hill ISD Coppell ISD Dallas ISD Desoto IS0 Duncanville IS0 Ferris IS0 Enempt Freeport Goods in Transit Inventory Potentlal Loss Total Potential Loss $4,333,380,886 $574,927,017 $4,908,307,903 Cities $0 $1,209,459 $255,735,647 $4,509,186 $0 $0 $258,218,740 $1,202,715,061 $0 $0 $169,024,461 SO $345,346,456 $0 $190,156,791 $54,485,267 SO $21,642,177 $0 $24,927,975 $0 $88,151,396 $0 $0 $858,689 $0 $1,200,304 582,5 14,920 $0 $7,188,996 $0 School Districts $534,486,678 $23,527,012 $4,509,186 $249,020 $374,818,462 $16,708,755 $1,231,408,933 $198,897,420 $0 $43,401 $80,857,262 $181,330 $0 $0 Page 67 of 80 Garland 1SD Grand Prairie IS0 Grapevine-Colleyville Highland Park ISD Irving IS0 Lancaster ISD Mesquite ISD Richardson ISD Sunnyvale ISD Dallas Cnty FCD #1 DCURD Oenton County LID #1 Denton County RUD #1 Denton Co LIMland RUD#1 Grand Prairie Metro URD Irving FCD Sect 1 Irving FCD Sect 3 Lancaster MUD #1 Northwest Dallas Co FCD Vaiwood Special Districts $31,151,861 $355,174 $53,590,179 $46,433 $0 $0 $0 $0 $0 $0 $1,152,724 $0 $20,946,172 $674,495 $0 f 0 $0 $0 $0 $0 $128,428,430 $7,327,298 Page 68 of 80 Dab Central Apprskal Dbtrict June 14,2007 The 80' Session of the Texas Legislature adjourned on May 28,2007. bong the bills that were passed by the kgislatm was House Bill 62 1 (mdled mpy amdd). lk bill was @Oaed as follows: %elating to the exemption &om ad val:om taxation of Wle pmd property held tempomdy at a locrtion iu this state for assembling, dohg, manufn- p- or fabrimting pupam," This bill allows for a EW of T-rt exemption" and is the dg legislation fbr SJR. 6 that was passed by the 7? Legislature and phced on the ballot and appmved by the vom in 2001. The ahhg Freeport legislation that has been authorized by the Texas Constitution and Section 1 1.25 1 of the Property Tax Code dows F-rt goods that lave the state within 175 days to be exempt from dm This law has ken in effkct since 1990. HI3 621 adds a new ex@m that allows goods lo k exempt iftbey are shipped to another lucation either hide or outside the State of Tans within 175 days. TIE pds eligible for the exemption must be held in a ldon in this statt that was not owned by, or under the cmtm1 of, the owner ofthe goods. An "owndip inM in" does not k1ude a lea* but rather was miended to inchde partndps, joint ven- or dliate ownexship of a Mty. With that in mind, the meaning of "direct or indirect ownership interest'' in the Imtion where ibe goods-itransit are detained is unclear as to whk a Mon that is leased, or subject to a lease pwdwe option, would qualify. It is quite possible that many large retaiIm who maintaixl inventory in a warehouse that they dy own could opt to sen the facility, lease it from the new om, d apply for tk new exemption. The bill requires 2hat a taxing unit can opt oat ofthe exemption by taking positive action to tax the goods befbre Sammy 1 ofthe firsttax yearthat~guvemhgbodypmposestotm gm&in-tmmit. This must be dme by official action of the govmhg body ofthe laxing unit. Befm that can happ, the governing body of tbe unit must conduct a public hearing. If the governing My of a taxing unit provides for the tma!ion ofthe gods-in-wit as provided by this bill, the exemption dm not apply to tbat unit The g~~~t remain subject to taxation by the faxing unit until the gaverniqg My of the taxing unit, in the manner required for &cia1 don, minds or repeals its prevjoua action to tax goadsin--it, or otherwise detednm that the exemption will apply to that taxing unit. offieeot~~chlef~ 2949 N, Stem- Fw WLas, Texas 752474 95 (214) 631-0520 Web Site: w.d!llascad.m Page 69 of 80 Based on the afomnentiod, if your tmhg unit h not act to ta k gmls, they wiU become eligible for this exemption on January 1,2008. In order to assist you in makingthis decision, our office has jmpd an estimrde of the amount of vaRte lost in your jurisdiction if you allow the gods to mive the exemption. This estimate is bed on 2007 values and a liberal intapmion of the qbon of wktkr or not a 1- cmdbtes control of the real in which the gods are stmd I have dm included a fllmmary of how much value was Iost in your jurisdiction to the existing Fmprt law in 2006. Remember if you choose to tax these gd, you must act WOE January 1,2008. This includes allotting enough time to wmht the requkd public k8. I am providing this letter to help your agency make an idom& decision on this exemption. The Dallas Central Appmid Wct has no @&ion on this issue and will admiaister the exemption amrdmg to your wishes. Please review the infomation we have provided. If you have my questions feel free to atact me, W. Kenneth Nolan Executive DhtorrChief Appraiser Page 70 of 80 S.B. No. 1 assisting the comptroller In the identification of persons entitled to unclaimed property reported to the comptroller, the name, address, social security number, and date of birth of each person about whom the comnclssion has such information in its records. SECTION 47.04. The Department of Public Safety, the Employees Retirmnt System of Texas, the Teacher Retiremnt System of Texas, and the Texas Workforce Commission shall provide information to the comptroller as required by Subsection (a 1, Section 411.0111, and Subsection (a) , Section 821.010, Government Code, end Subsection (a), Section 301.086, Ubor Code, as amended by this article, beginning in 2036. SECTION 48,Ol. Subsection (a), Section 11.253, Tax code, is amended by amending Subdivision (2) and adding subdivisions (5) and (6) to read as follows: (21 wGoods-in-transftn means tangible personal property that: (A) is acquired in or imported into this state to be forwarded to another location in this state or outside this state; (B) is stored under a contract of bailmant by a public warehouse operator 1-1 at one or more public warehouse faeilitias 1-1 in this state that we not in any 0 {Or] the owner of the personal property ti1 for the account of 1- Page -125 - Page 71 of 80 S.B. No. 1 -1 the ppeson who acquired or inported the property; IC) is transported to another location in this state or outside Chis state not later than 175 days after the date the person acquired the property in or imported the property into this state; and ID) does not include oil, natural gas, petroleum products, aircraft, dealer* s motor vehicle inventory, dealer's vessel and outboard motor i nvantory, dealer's heavy equipment inventory, or retail manufactured housing inventory. 15) "Bailee" and "warehouseu have the meanings assigned by Section 7.102, Business i Commerce Code. [ 6) "Public warehouse onerator" means a person that : (A) ia both a bailee and a warehouse; and (B) stores under a contract of bailment, at one or more public warehouse facilities, tangible personal property that is owned by other persons solely for the account of those persons and not for the operator's account, SECTION 48.02. Section 11.253, Tax Code, is amended by amending Subsections (el and Ih) and adding Subsections (j-1) and (j-2) to read as follows: {el In determining the market value of goods-in-transit that in the preceding year were [-) stored[- -1 in this state, the chief appraiser shall exclude the cost of equlpnent, machinery, or materials that entered into and became component parts of the goods-in-transit but were Page -126 - Page 72 of 80 S.d, No. 1 not themselves goods-in-t ransit or that were not transported to another location in this state or outside this state before the expiration of 175 days after the date they were brought into this state by tha property owner or acquired by the property owner in this state. For component parts held in bulk, the chief appraiser may use the average length of th a component part was held by the omer of the component: parts during the preceding year at a location in this state that was not owned by or under the control of the owner of the component parts in determining whether the component pasta were transported to another location in this state or outside this stete before the expiration of 175 days. (hl The chief appraiser by written notice delivered to a property owner who claims an exemption under this section may require the property owner to provide copies of property records so the chief appraiser can detedne the amount and value of goods-in- transit and that the location in this state where the goods-in- transit were detained for storage 1- -1 ua9 not owed by or under the control of the omer of the goods-in-transit. If the property owner fails to deliver the information requested in the notice before the 31at day after the date the notice is delivered to the property owner, the property mer forfeits the right to claim or rece5ve the exemption for that year. ( j-2 I Notwithstanding Subsection (5 ) or of fieial action that was taken under that subsection before October 1, 2011, to tax goods-in-transit exempt under Subsection (b) and not exempt under Page -127 - Page 73 of 80 S.B, No. 1 other law, a taxing unit may not tax such goods-in-transit in a tax year that begins on or after January 1, 2012, unless the governing bdy of the taxing unit takas action on or after October 1, 2011, in the manner required for official action by the qoverning My, to provide for the taxation of the goods-in-transit. The official action to tax the goods-in-transit must be taken before January 1 of the first tax year in which the governing body proposes to tax goods-in-transit . Before act ins to tax the exemt property, the qoverning body of the taxing unit must conduct a public hearing as required by Section 1-n(d), Article VIII, Texas Constitution. If the governing body of s taxing unit provides for the taxation of the goods-in-transit as provided by this subsection, the exemption prescribed by Subsection (b) does not anply to that unit. The goods-in-transit remain subject tp taxation by the taxing unit until the governing body of the taxing unit, In the manner required for official action, rescinds ar repeals its previous action to tax goods-in-transit or otherwise detaanes that the exemption prescribed by Subsection {b) will apply to that taxing unit. (1-2) Notwithstanding Subsection (j-1), if under Subsection Jj) the governinq body of a taxing unit, before October 1, 2011, took action to provide for the taxation of goods-in-transit and pledged the taxes imposed on the gocds-in-transit for the payment of a debt of the taxing unit, the tax officials of the taxing unit may continue to impose the taxes against the goods-in-transit until the debt ia discharged, if cessation of the imposition would impair the obligation of the contract by which the debt was created. Page -128 - Page 74 of 80 8.8. No. 1 SECTION 48.03. SuMivision (21, Subsection (I)P Section 11.253, Tax Code, as amended by this article, applies only to an ad valorm tax year that bgins on or after January 1, 2012, IIm Y ARTICLE 49. FIS- MATTERS CQNCEEWING ADVANCED PLACEHENT SECTION 4 9.01. Subsection (h) , Section 28.053, Education Code, is mended to- read as 1011~~s : Ihl The cwmnissioner may enter into agreements with the college bard and the International Baccalaureate Organization to pay for all examinations taken by eligible publie athool etudents. An eligible student is a student Ism] whoi (1) takes p 6011sge advanced placement or international baccalaureate course at a public school or who is recommesrded by the student's principal or teacher to take the test; and (21 demonstrates financial need 8s determfned in accordance with guidelines adopted by the board that are consitstent with the definition of finencia1 need adopted by the callgsei hard or the International Baccalaureate Organization. -TI= 50. FISCAL MATTERS CONCERNING TUXTIObl EXEHPTIOHS SECTION 50.01. Section 54.239, Education Codec is amended by amding Subsection (c) and adding Subsectian {c-1) to read a8 follows : (el To be eligible far an exemption under this aection, a Page -129 - Page 75 of 80 St a f f Re c o m m e n d a t i o n City Answer Contact RESULTS: Out: 28 In: 3 Undecided: 7 Total Responses: 38 1. IN Kennedale The City of Kennedale will be opting in. Amethyst Cirmo [acirmo@cityofkennedale.com] 2. OUT Grand Prairie Grand Prairie plans to opt out. Tom Hart [Thart@GPTX.org] 3. OUT Hurst Hurst will recommend opting out to our Council. Allan Weegar [aweegar@ci.hurst.tx.us] 4. Southlake We will discuss this with our Council next month Shana Yelverton [syelverton@ci.southlake.tx.us] 5. OUT Stephenville We are going to opt out. Mark Kaiser [MKaiser@ci.stephenville.tx.us] 6. OUT Richardson plans to opt out and will recommend to our City Council in early October. David Morgan david.morgan@cor.gov 7. OUT Euless Euless plans to opt out in October Gary McKamie [gmckamie@eulesstx.gov] 8. OUT Waxahachie The City of Waxahachie plans to opt out. Paul K. Stevens [pstevens@waxahachie.com] 9. OUT Lewisville Lewisville plans to opt out. Donna Barron [dbarron@cityoflewisville.com] 10. OUT Frisco Frisco will take this item up on our October 4th council agenda with the recommendation to opt out. Ben Brezina [BBrezina@friscotexas.gov] 11. Weatherford The City of Weatherford will be discussing this with the Council in October. Jerry Blaisdell [jblaisdell@weatherfordtx.gov] 12. OUT Hudson Oaks Hudson Oaks City Council will consider the issue in October and staff's recommendation will be to opt out. Sheri Campbell-Husband [sheri.campbell@hudsonoaks.com] 13. Fort Worth There is no reaction from City of Fort Worth at this time. Staff will be making a presentation to the Council Legislative Committee on October 18th and will be seeking direction from council at that time. Sexton, Pamela R [Pamela.Sexton@fortworthtexas.gov] 14. OUT Denton Denton is scheduled to consider this matter on Oct 4. Staff is recommending that the Council “opt out” of providing the exemption and continue taxing goods-in-transit. This is the same action they took in 2007. Fortune, Jon E. [Jon.Fortune@cityofdenton.com] 15. Forest Hill The City of City Council will discuss and consider SB 1 in October. Sheyi I. Ipaye [sipaye@foresthilltx.org] Page 76 of 80 16. OUT Haltom City Will consider the issue in October with a staff recommendation to opt-out. Tom Muir [tmuir@haltomcitytx.com] 17. OUT Farmers Branch Will consider opting out in October. Gary D. Greer [gary.greer@farmersbranch.info] 18. OUT Roanoke We're going to opt-out (to keep from granting the exemption). Jimmy Stathatos [mailto:jstathatos@roanoketexas.com ] 19. OUT Plano Plano will be opting out of the exemption and plan on taking to council the 1st meeting in November. Mark Israelson [Marki@plano.gov] 20. OUT University Park We are taking this issue to our Finance Advisory Committee for a recommendation to Council. Staff will recommend opting out. Bob Livingston [blivingsto@uptexas.org] 21. Fairview We have not yet decided in Fairview. John Godwin [mailto:jgodwin@fairviewtexas.org] 22. OUT Joshua City Council will consider this item in October. Staff recommendation will be to opt out. Paulette Hartman [citymanager@cityofjoshuatx.us] 23. OUT Lancaster The City of Lancaster will be considering the item at the October 10th Council meeting with staff recommendation to opt out and not grant the exemption. Robertson, Opal [ORobertson@lancaster-tx.com] 24. OUT Lewisville Lewisville will consider at Oct 17 or Nov 7 meeting with a staff recommendation to opt out. Claude King [cking@cityoflewisville.com] 25. OUT North Richland Hills The City of North Richland Hills will be considering this issue at a future council meeting with a staff recommendation to opt out and not grant the exemption. Mark Hindman [mhindman@nrhtx.com] 26. OUT Coppell Coppell will be opting out - not recognizing the exemption. Clay Phillips [CPHILLIPS@coppelltx.gov] 27. OUT Royse City In Royse City, we will be briefing our Council on the issue in October. Staff will likely recommend to opt-out and not grant the exemption. Bill Shipp [bill.shipp@RoyseCity.com] 28. OUT Colony The Colony will be opting out at our Oct 1st Council, meeting. Troy C. Powell [tpowell@thecolonytx.gov] 29. IN Mesquite The City of Mesquite plans to opt-in and acknowledge the goods-in-transit exemption. Don Simons [dsimons@ci.mesquite.tx.us] 30. OUT Sanger The Sanger City Council will consider it on 10/3. Staff’s recommendation is to opt out and not grant an exemption. Mike Brice [mbrice@sangertexas.org] 31. OUT Flower Mound Next month, staff will recommend to opt-out. Harlan Jefferson [harlan.jefferson@flower-mound.com] 32. Rockwall We will be briefing our Council in October. Couch, Julie [JCouch@rockwall.com] 33. IN Northlake Northlake will opt-in. Drew Corn [DCorn@town.northlake.tx.us] 34. OUT Arlington Arlington’s Council will be getting briefed on this matter 9/27. Our recommendation will be to maintain our current status and opt-out. Trey Yelverton [Trey.Yelverton@arlingtontx.gov] 35. OUT Trophy Club Trophy Club will not "opt-in" Mike Slye [mslye@ci.trophyclub.tx.us] Page 77 of 80 36. OUT Red Oak The City of Red Oak will be taking it to Council at their meeting the second Monday of October. Staff will be recommending to opt out. Dana Argumaniz [dargumaniz@redoaktx.org] 37. OUT Heath The City of plans to take this to the City Council meeting on October 4th, next week and recommend to opt-out. Ed Thatcher [ethatcher@heathtx.com] 38. Murphy Murphy will consider this item in November. James Fisher [jfisher@murphytx.org] Page 78 of 80 AGENDAMEMO (11/1/2011AGENDA) TO:HonorableMayorandCityCouncil FROM:LizSpector,CitySecretary SUBJECT:CONSIDERANDACT:onaresolutioncastingtheCouncil'svoteforthe fourth memberoftheBoardofDirectorsoftheDallasCent ralAppraisalDistrict(DCAD) BACKGROUND: DallasCountyeligibletaxingentitieshaveapprove danoptionwhichallowsforrepresentationtothe AppraisalDistrictBoardofDirectors(inaccordanc ewithSection6.03oftheTexasPropertyTax Code).Therearefivemembersoftheboard.TheC ityofDallas,theDallasIndependentSchool District,andtheDallasCountyCommissionersCourt haveonemembereach.Allotherincorporated citiesandtownsinDallasCountyarerepresentedb yasinglememberandallotherindependent schooldistrictsinDallasCountyarerepresentedb yasinglemember.Bystatelaw,theCityis requiredtovoteforitsnomineebyofficialballot resolution.Thisresolutionisattachedforyour review. Mr.MichaelHurttisthecurrentBoardMemberrepre sentingthecitiesandtownsotherthanDallas. TheCitiesofDeSoto,Sachse,Seagoville,FarmersB ranchandRichardsonhavenominatedMr.Hurtt tocontinueinthisposition.TheCityofCombine hasnominatedMr.PaulNormantobethenew representative. TheCouncilshouldcasttheirvotestoapproveone ofthetwonomineeswiththisresolution.The Councilmayalsochoosetoabstain. RECOMMENDATION: StaffrecommendstheCouncilapprovethenomination ofthecurrentBoardMember,Mr.Michael Hurtt. ATTACHMENTS: DCADBoardofDirectorsNomination Page 79 of 80 Page 80 of 80