2009 05 07 MDD MinutesMINUTES OF THE MEETING OF THE BAYTOWN MUNICIPAL
DEVELOPMENT DISTRICT
May 07, 2009
The Baytown Municipal Development District of the City of Baytown, Texas met in a
Regular Meeting on Thursday, May 07, 2009, at 4:30 P.M. in the Council Chamber of the
Baytown City Hall, 2401 Market Street, Baytown, Texas with the following in
attendance:
Brandon Capetillo
Lynn A. Caskey, II
Ruben Linares
David McCartney
Terry Sain
Scott Sheley
Lena Yepez
Kirven Tillis
Mary Hernandez
Stephen DonCarlos
Garrison C. Brumback
Ignacio Ramirez, Sr.
Kevin Troller
Kaythie Darnell
Director
Director
Director
Director
Director
Director
Director
Director
Director
President
General Manager
General Counsel
Assistant City Manager
Assistant Secretary
Director Reggie Brewer was absent from the May 7, 2009 Meeting.
4:31 P.M. President DonCarlos called the meeting to order with a quorum present.
1. MINUTES
a. Approve the Minutes of the Baytown Municipal Development District
(MDD) Regular Meeting held on April 2, 2009.
Motion was made by Director McCartney, seconded by Director Sheley approving the
minutes from the April 02, 2009, Municipal Development District Regular Meeting with
corrections. The vote was as follows:
Ayes: Directors: Capetillo, Caskey, Linares, McCartney, Sain, Sheley,
Yepez, Tillis, Hernandez, and President DonCarlos.
Nays: None.
Page 2 of 4
The motion passed.
2. PROPOSED RESOLUTIONS
Minutes of the May 07, 2009 MDD Meeting
a. Resolution - Premiere Cinema's Digital Cinema Initiative - City
Management.
Resolution 131 authorized Baytown Premiere Cinema, Incorporated Digital Cinema
Initiative as a development project; providing an unsecured, four -year loan in the amount
of $165,000 subject to corporate and personal guaranties as approved by the General
Manager.
Baytown Premiere Cinema, Inc. ( "Premiere Cinema ") proposed to bring Digital Cinema
( "D- Cinema') to Baytown. Specifically, its facility will install new technology, which
will provide clear digital content delivered via satellite and presented on state -of -the -art
commercial DLP projection systems. The D- Cinema will provide more entertainment
options, including live sporting events and concerts, conferences and conventions, video
feeds, interactive gaming, and advanced 3 -D technology. With these options Premiere
Cinema believes that it will position itself more as an entertainment destination to attract
business to the Baytown area from a broader geographical spectrum.
Due to the economics associated with D- Cinema, the following three criteria must be
satisfied:
1. the location must have at least ten years left on its lease;
2. Premiere Cinema must have a history of sound financial performance;
3. the location must be able to come up with its share of the exhibitor contribution
With the loan provided by the MDD, Premiere Cinema will be able to satisfy the last
criterion. Therefore, all criteria will be satisfied and Premiere Cinema will be able to
move forward with D- Cinema in Baytown.
Resolution 131 recognized that Baytown Premiere Cinema, Inc.'s Digital Cinema
Initiative is a development project, as it is equipment required or suitable for use for
entertainment purposes. Additionally, Resolution 131 authorized an unsecured, four -year
loan in the amount of $165,000 at a 5% Annual Interest Rate. As proposed, Premiere
Cinema Corporation and Gary Moore, President of Premiere Cinema Corporation will
provide guaranties for the loan.
A letter from Premier Cinema further explaining the digital initiative is attached for your
review.
v
Page 3 of 4
Minutes of the May 07, 2009 MDD Meeting
Motion was made by Director Sheley, seconded by Director McCartney approving
Resolution 131. The vote was as follows:
Ayes: Directors: Capetillo, Caskey, Linares, McCartney, Sain, Sheley,
Yepez, Tillis, Hernandez, and President DonCarlos.
Nays: None.
The motion passed.
RESOLUTION 131
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT
AUTHORIZING BAYTOWN PREMIERE CINEMA, INC.'S DIGITAL
CINEMA INITIATIVE AS A DEVELOPMENT PROJECT;
PROVIDING AN UNSECURED, FOUR -YEAR LOAN IN AN
AMOUNT OF ONE HUNDRED SIXTY -FIVE THOUSAND AND
NO /100 DOLLARS ($165,000.00) SUBJECT TO CORPORATE AND
PERSONAL GUARANTIES AS APPROVED BY THE GENERAL
MANAGER; MAKING OTHER PROVISIONS RELATED THERETO;
AND PROVIDING FOR THE EFFECTIVE DATE THEREOF.
3. REPORTS
a. Quarterly Investment Report for the period ending March 31, 2009 -
Finance.
Assistant Finance Director Andrea Deaton presented agenda item.
The Baytown Municipal Development District's Investment Report for the quarter ending
March 31, 2009, was submitted for review in accordance with the Public Funds
Investment Act Section 2256 -023 (a) and (b).
b. Update the Sales Tax — Finance.
Assistant Finance Director Andrea Deaton presented agenda item.
Received update on sales tax collections for the Baytown Municipal Development
District.
Page 4 of 4 Minutes of the May 07, 2009 MDD Meeting
/. 4. ADJOURN
Motion was made by Director Sheley, seconded by Director McCartney adjourning the
MDD May 07, 2009, Regular Meeting. The vote was as follows:
Ayes: Directors: Capetillo, Caskey, Linares, McCartney, Sam, Sheley,
Yepez, Tillis, Hernandez, and President DonCarlos.
Nays: None.
The motion passed.
4:47 P.M. President DonCarlos adjourned the MDD May 07, 2009, Regular Meeting.
Ka a Damell, Assistant Secret
City Baytown
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