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2011 04 07 MDD MinutesMINUTES OF THE REGULAR MEETING OF THE BOARD OF DIRECTORS OF THE BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT April 07, 2011 The Board of Directors of the Baytown Municipal Development District (MDD) met in a Regular Meeting on Thursday, April 07, 2011, at 4:30 P.M. which began with a tour of an MDD funded project at 700 West Texas Avenue and reconvened in the Council Chamber of the Baytown City Hall, 2401 Market Street, Baytown, Texas with the following in attendance: Stephen DonCarlos David McCartney Brandon Capetillo Dee Anne Navarre Mercedes Renteria Terry Sain Kevin Troller Ignacio Ramirez, Sr Jason Cozza President Secretary Director Director Director Director Assistant General Manager General Counsel Deputy Assistant Secretary President DonCarlos convened the April 07, 2011, Municipal Development District (MDD) Board Regular Meeting with a quorum present at 4:30 P.M., all members were present with the exception of Vice President Linares and Directors Brewer, Caskey, Hernandez, and Sheley who were absent. The members of the MDD Board participated in a facility tour of an MDD funded project located at 700 West Texas Avenue, Baytown, Texas 77520. President DonCarlos reconvened the meeting at 5:30 P.M. with a quorum present and all members were present with the exception of the same members that were absent from the facility tour. 1. MINUTES a. Consider Approving Minutes of the Municipal Development District (MDD) Board Meeting held on March 03, 2011 - Secretary. A motion was made by Director Terry Sain and seconded by Director Brandon Capetillo approving the March 03, 2011, Municipal Development District Board Meeting. The vote was as follows: Ayes: President Stephen H. DonCarlos, Secretary David McCartney, Director Brandon Capetillo, Director Dee Anne Navarre, Director Terry Sain Nays: None Other: Director Mercedes Renteria (Abstain) Approved 2. PROPOSED RESOLUTIONS a. Consider Baytown Municipal Development District's Investment Policy and Strategy - Finance. Assistant General Manager Troller presented the agenda item and stated that Resolution No. 163 revised the Baytown Municipal Development District's Investment Policy and Investment Strategy to update authorized investment officers, and name of the regulatory agency certifying broker dealers and financial institutions. The changes to the policy are as follows: EXHIBIT A - Authorized Investment Officials: • Mike A. Lester, City of Baytown Interim Director of Finance • Louise Richman, City of Baytown Assistant Director of Finance • Carl C. Currie, City of Baytown Controller • Genie Ginzel, City of Baytown Treasurer EXHIBIT B — Statement of Ethics and Conflicts of Interest with the names of the new authorized investment officials: • Mike A. Lester, City of Baytown Interim Director of Finance • Louise Richman, City of Baytown Assistant Director of Finance • Carl C. Currie, City of Baytown Controller • Genie Ginzel, City of Baytown Treasurer A motion was made by Director Terry Sain and seconded by Director Mercedes Renteria approving Resolution No. 163.The vote was as follows: Ayes: President Stephen H. DonCarlos, Secretary David McCartney, Director Brandon Capetillo, Director Dee Anne Navarre, Director Mercedes Renteria, Director Terry Sain Nays: None Approved RESOLUTION NO. 163 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT ADOPTING THE BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT'S INVESTMENT POLICY AND INVESTMENT STRATEGY IN ACCORDANCE WITH THE PUBLIC FUNDS INVESTMENT ACT; AND PROVIDING FOR THE EFFECTIVE DATE THEREOF. 3. REPORTS a. Receive MDD Revenue and Expenditure Report for the Quarter Ending March 31, 2011- Finance. b. Receive MDD Quarterly Investment Report for Period Ending March 31, 2011- Finance. Assistant General Manager Troller presented the agenda item and stated that Assistant Finance Director Louise Richman will present the reports for agenda items 3.a. and 3.b. Ms. Richman stated that the reports are in a more time efficient format and that the revenues and expenditures are on target. Director Navarre requested a break down in the administrative cost. Ms. Richman stated that the investment reports ending balance is right at $5.4 million. 4. MANAGER'S REPORT Assistant General Manager Troller stated that the election information can be viewed on the City of Baytown's website. 5. ADJOURN A motion was made by Director Terry Sain and seconded by Director Mercedes Renteria adjourning the April 07, 2011, Municipal Development District Board Regular Meeting. The vote was as follows: Ayes: President Stephen H. DonCarlos, Secretary David McCartney, Director Brandon Capetillo, Director Dee Anne Navarre, Director Mercedes Renteria, Director Terry Sain Nays: Nonc Approved With there being no flil-010- bUsiness to discuss, President Don('.'arlos adjourned the April 07, 2011, Municipal Development District (NIDD) Board Regular N/lecting at 5-37 P.M. tl 9I HOlyl, Ohl", ,,, La ti iii �di,7 - , A City of Bay