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2016 04 26 MDD Minutes, SpecialMINUTES OF THE SPECIAL MEETING OF THE BOARD OF DIRECTORS OF THE BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT April 26, 2016 The Board of Directors of the Baytown Municipal Development District (MDD) met in a Special Meeting on Tuesday, April 26, 2016, at 4:36 P.M., in the Council Chamber of the Baytown City Hall, 2401 Market Street, Baytown, Texas with the following in attendance: Stephen DonCarlos Chris Presley Brandon Capetillo Robert Hoskins Dave Jirrels David McCartney Terry Sain Rick Davis Ignacio Ramirez, Sr. Leticia Bryscb President Vice President Director Director Director Director Director General Manager General Counsel Assistant Secretary President DonCarlos convened the April 26, 2016, Municipal Development District (MDD) Board Special Meeting with a quorum present at 4:36 P.M., all members were present with the exception of Directors Brewer, Englert, Hernandez, and Renteria who were all absent. 1. MINUTES a. Consider approving the minutes of the Municipal Development District Board Special Meeting held on January 28, 2016. A motion was made by Director Terry Sain and seconded by Director Robert C. Hoskins approving the January 28, 2016, MDD Board Special Meeting minutes. The vote was as follows: Ayes: Director Brandon Capetillo, President Stephen H. DonCarlos, Director Robert C. Hoskins, Director David P. Jirrels, Director David McCartney, Vice - President Chris Presley, Director Terry Sain Nays: None Other: Secretary Reggie Brewer (Absent), Director Gary Englert (Absent), Director Mary Hernandez (Absent), Director Mercedes Renteria III (Absent) Approved MDD Board Special Meeting Minutes April 26, 2016 Page 2 of 5 2. EXECUTIVE SESSION a. Recess into and conduct an executive session pursuant to Section 551.087 of the Texas Government Code to deliberate the offer of a financial or other incentive to a business prospect. At 4:36 P.M., President DonCarlos recessed into and conducted an executive session pursuant to Section 551.087 of the Texas Government Code to deliberate the offer of a financial or other incentive to a business prospect. At 4:53 P.M., President DonCarlos reconvened the Open Meeting of the MDD Special Meeting and announced that in accordance with Section 551.102 of the Texas Open Meetings Act, no action was taken in the Executive Session. 3. PROPOSED RESOLUTIONS a. Consider a resolution authorizing an interlocal agreement with the City of Baytown to fund a development project. General Counselor, Ignacio Ramirez stated that agenda item 3.a. was not ready for consideration. b. Consider a resolution approving the Baytown Municipal Development District's Investment Policy and Strategy Statement in accordance with the Public Funds Investment Act. Finance Director, Wade Nickerson presented the agenda item and stated that Resolution No. 279 approves the Baytown Municipal Development District's (MDD) Investment Policy and Strategy Statement in accordance with the Public Funds Investment Act, Section 2256.005(e) to include the following changes: 1) update Investment Officers, and 2) amend authorized broker /dealers. A motion was made by Director David McCartney and seconded by Director Robert C. Hoskins approving Resolution No. 279. The vote was as follows: Ayes: Director Brandon Capetillo, President Stephen H. DonCarlos, Director Robert C. Hoskins, Director David P. Jirrels, Director David McCartney, Vice - President Chris Presley, Director Terry Sain Nays: None Other: Secretary Reggie Brewer (Absent), Director Gary Englert (Absent), Director Mary Hernandez (Absent), Director Mercedes Renteria III (Absent) Approved MDD Board Special Meeting Minutes April 26, 2016 Page 3 of 5 RESOLUTION NO. 279 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT ADOPTING THE BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT'S INVESTMENT POLICY IN ACCORDANCE WITH THE PUBLIC FUNDS INVESTMENT ACT; AND PROVIDING FOR THE EFFECTIVE DATE THEREOF. C. Consider a resolution authorizing an interlocal agreement with the City of Baytown for funding the engineering and professional services for the extension of Hunt Road east of Garth Road. General Manager Davis presented the agenda item and stated that Resolution No. 280 authorizes an interlocal agreement with the City of Baytown for funding the engineering and professional services for the extension of Hunt Road east of Garth Road (the "Project "). A motion was made by Director Terry Sain and seconded by Director Robert C. Hoskins approving Resolution No. 280. The vote was as follows: Ayes: Director Brandon Capetillo, President Stephen H. DonCarlos, Director Robert C. Hoskins, Director David P. Jirrels, Director David McCartney, Vice - President Chris Presley, Director Terry Sain Nays: None Other: Secretary Reggie Brewer (Absent), Director Gary Englert (Absent), Director Mary Hernandez (Absent), Director Mercedes Renteria III (Absent) Approved RESOLUTION NO. 280 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT AUTHORIZING THE PRESIDENT TO EXECUTE AND THE ASSISTANT SECRETARY TO ATTEST TO AN AGREEMENT FOR FUNDING THE ENGINEERING AND PROFESSIONAL SERVICES FOR THE HUNT ROAD EXTENSION EAST OF GARTH ROAD PROJECT WITH THE CITY OF BAYTOWN; AUTHORIZING PAYMENT IN THE AMOUNT NOT TO EXCEED ONE HUNDRED THIRTY -TWO THOUSAND ONE HUNDRED SEVENTY AND NO /100 DOLLARS ($132,170.00); AND PROVIDING FOR THE EFFECTIVE DATE THEREOF. MDD Board Special Meeting Minutes April 26, 2016 Page 4 of 5 d. Consider a resolution authorizing an interlocal agreement with the City of Baytown for the funding of the 1 -10 Lift Station Upsizing Project. General Manager Davis presented the agenda item and stated that Resolution No. 281 authorizes an interlocal agreement with the City of Baytown for the funding of the I -10 Lift Station Upsizing Project assist with the capacity of the future growth along Garth Road. A motion was made by Director Robert C. Hoskins and seconded by Vice - President Chris Presley approving Resolution No. 281. The vote was as follows: Ayes: Director Brandon Capetillo, President Stephen H. DonCarlos, Director Robert C. Hoskins, Director David P. Jirrels, Director David McCartney, Vice - President Chris Presley, Director Terry Sain Nays: None Other: Secretary Reggie Brewer (Absent), Director Gary Englert (Absent), Director Mary Hernandez (Absent), Director Mercedes Renteria III (Absent) Approved RESOLUTION NO. 281 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT AUTHORIZING THE PRESIDENT TO EXECUTE AND THE ASSISTANT SECRETARY TO ATTEST TO AN AGREEMENT FOR FUNDING THE I -10 LIFT STATION UPSIZING PROJECT WITH THE CITY OF BAYTOWN; AUTHORIZING PAYMENT IN THE AMOUNT NOT TO EXCEED FIVE HUNDRED THOUSAND AND NO /100 DOLLARS ($500,000.00); AND PROVIDING FOR THE EFFECTIVE DATE THEREOF. 4. REPORTS a. Receive the Baytown Municipal Development District's Revenues and Expenditures Report for the Quarter Ending March 31, 2016. Mr. Nickerson presented the Baytown Municipal Development District's Revenues and Expenditures Report for the Quarter Ending March 31, 2016. He stated that the sales tax revenues came in 6% over what was brought in this time last year and that the expenditures were at 52 %. MDD Board Special Meeting Minutes April 26, 2016 Page 5 of 5 b. Receive the Baytown Municipal Development District's Quarterly Investment Report for the Quarter Ending March 31, 2016. Mr. Nickerson presented the Baytown Municipal Development District's Quarterly Investment Report for the Quarter Ending March 31, 2016, and stated that there was approximately $3 million dollars in the MDD portfolio with an interest rate earning of about .34 %. 5. MANAGER'S REPORT a. Reminder that the next regularly scheduled Baytown Municipal Development District meeting is Thursday, June 02, 2016, at 4:30 P.M., in the City Council Chamber, 2401 Market Street, Baytown, Texas, 77520. General Manager Davis stated that MDD has a Special Meeting scheduled for May 12, 2016, at 4:30 P.M., in the City Council Chamber. 6. ADJOURN A motion was made by Vice - President Chris Presley and seconded by Director Brandon Capetillo adjourning the April 26, 2016, MDD Board Special Meeting. The vote was as follows: Ayes: Director Brandon Capetillo, President Stephen H. DonCarlos, Director Robert C. Hoskins, Director David P. Jirrels, Director David McCartney, Vice - President Chris Presley, Director Terry Sain Nays: None Other: Secretary Reggie Brewer (Absent), Director Gary Englert (Absent), Director Mary Hernandez (Absent), Director Mercedes Renteria III (Absent) Approved With there being no further business to discuss, President DonCarlos adjourned the April 26, 2016, Municipal Development District (MDD) Board Special Meeting at 4:59 P.M. AY Leticia Brysch, AssistAd Secretary ? CO T City of Baytown =� ,r X