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09-25-2001 (City Council) Agenda Packet NOTICE OF MEETING WYLIE CITY COUNCIL AGENDA Tuesday, September 25, 2001 6:00 p.m. Wylie Municipal Complex—Council Cluunbers/Council Conference Room 2000 State Highway 78 North Wylie,Texas 75098 REV. AL DRAPER,FIRST BAPTIST CHURCH PROCLAIMING THE WEEK OF OCTOBER 8-12,2001 AS"FIRE PREVENTION WEEK" IN WYLIE, TEXAS. :: ;. .; .> :.. etT1s:::�<:r:Itx4Trss#text::tX.,�estr2ct,::<tlia#;.+#�trt>_:ss�z#�;:��::x:�m..t?vefJ.�rPRr...;t�{e:::Cf�!?SGn�:?l•�c�1€dRx'�'tin:;ai?1 .�U±tBf;;;;>;::;::. A. APPROVAL OF THE MINUTES FROM'rHE SEPTEMBER 11,2001 REGULAR MEETING. . M.WQK I A:A .CO SWWERA.TIO1i AN.0 A.CT1ON Tabled Items 1. CONSIDER AND ACT UPON APPROVAL OF AN ORDINANCE AUTHORIZING THE ISSUANCE OF $4,500,000 GENERAL OBLIGATION BONDS, SERIES 2001, DATED SEPTEMBER 1, 2001 AND ALL OTHER MATTERS RELATED THERETO. Executive Summary Issuance of general obligation bonds were authorized b the May 8, 1999 election to be utilized for street improvements. Due to the national tragedy on September l 1.2001,this item was tabled,as the bids for the bonds were to be publicly opened and read at the offices of the financial advisor at 11:30 a.m. CDT. The debt service requirements for the new bonds will be funded from property taxes. Annual debt service payment of the twenty-year amortization of the $4,500,000 in new bonds is estimated to he $370,170. Staff is recommending adoption of the Ordinance authorizing the issuance of $4,500,000 General Obligation Bonds. Series 2001, per the recommendation of First Southwest Company,the City's Financial Advisor. 2. CONSIDER AND ACT UPON APPROVAL OF AN ORDINANCE AUTHORIZING THE ISSUANCE OF$500,000 TAX NOTES,SERIES 2001, DATED SEPTEMBER 1,2001 AND ALL OTHER MATTERS RELATED THERETO. Executive Summary Issuance of$500,000 in Tax Notes for the purchase of equipment and software for Police, Fire,Public Works,Finance, Utility Billing and Personnel including costs associated with the issuance of the Notes. Again, due to the national tragedy of September I I, 2001 this item was also tabled. "fhc debt service requirements for the Tax Note will be funded from property taxes, average annual debt service payment over the five-year amortization period of the $500,000 is estimated to be $11, 500. Staff is recommending adoption of the Ordinance authorizing the issuance of $500,000 in Tax Notes, Series 2001, per the recommendation of First Southwest Company, the City's Financial Advisor. 3. CONSIDER AND ACT UPON APPOINTING THE "TAst: FORCE ADVISORY COMMITTEE" FOR THE PARKS AND RECREATION OPEN SPACE AND MASTER PLAN. Page 1 of 4 Executive Summary -Item 3-continued Consultants for the Parks and Open Space Master Plan have suggested a "Task Force Advisory Committee" to represent the various local special interest groups in order to assist with surveys and community input and would meet frequently with the consultants and staff to review the progress and Master Plan findings and recommendation. Consultants are recommending a minimum of ten members from the following groups: WISD,Corps of Engineering, City Council, Parks and Rec Board, Sports Association. Senior Citizen & Chamber of Commerce. This item was tabled to allow Council an opportunity to research and provide names at the next regular meeting. Interlocal Agreement 4. CONSIDER AND ACT UPON APPROVAL FOR AN INTERLOCAL AGREEMENT FOR DISPATCH/COMMUNICATIONS SERVICES BETWEEN TEIE CITY OF MURPHY,BRANCH FIRE DEPARTMENT AND THE CITY OF WYLIE. Executive Summary Currently the City dispatches for the City of Murphy & Branch Fire Departments, each agency billed on a per call basis,billed quarterly. The significant growth of our city and its surrounding cities,has impacted our dispatch center with increased call loads and the need for additional personnel. Over the last year the Branch Fire Department paid the City of Wylie approximately $5,500; the City of Murphy paid approximately $9,600 for dispatching services. Next year, the two cities will pay the City of Wylie approximately $30,000.00 that will cover the cost of an additional dispatcher. Staff recommends that Council approve the proposed Interlocal Agreement for Dispatch/Communications Center Services between the City of Wylie,the City of Murphy and the Branch Fire Department. Planning Items 5. HOLD A PUBLIC HEARING TO CONSIDER AND ACT UPON APPROVAL OF A CHANGE IN ZONING FROM AGRICULTURE (A) TO PLANNED DEVELOPMENT (PD) DISTRICT FOR SINGLE FAMILY RESIDENTIAL USES,FOR A 41.743 ACRE TRACT OF LAND, BEING PART OF A 28.5675 ACRE TRACT AND ALL OF A 27.4522 ACRE TRACT CONVEYED TO THOMAS MANNEWITZ BY DEED RECORDED IN COUNTY CLERK'S FILE NUMBER 92-0064130 OF THE DEED RECORDS OF COLLIN COUNTY, TEXAS, BEING SITUATED IN THE MOSES SPARKS SURVEY, ABSTRACT No. 849, CITY OF WYLIE, COLLIN COUNTY, TEXAS. (ZONING CASE No. 2001-10) Executive Summary Rezoning request to develop a single-family residential subdivision containing a total of 41.743 acres of land, and fronts a distance of approximately 1,075 feet along Lakefield Drive. Current zoning is Agriculture(A); occupied by several horse barns&open grazing area. Public Comment Fonns were mailed to seventy(70)property owners within 200 feet of this request. Two Public Comment Fonns have been returned, one AGAINST and one FAVORING the request. For additional detail,please review Item 5 Agenda Communication with regard to compliance and requested variances to city ordinances. 6. HOLD A PUBLIC HEARING TO CONSIDER AND ACT UPON APPROVAL OF A CHANGE IN ZONING FROM AGRICULTURE(A) TO SINGLE FAMILY RESIDENTIAL-8.5 (SF-8.5/17) USES, BEING A 95.41 ACRE TRACT OF LAND AS DESCRIBED IN A DEED FROM LOTTIE STONE RECORDED IN VOLUME 426, PAGE 486 OF THE COLLIN COUNTY DEED RECORDS, BEING SITUATED IN THE D.W. WILLIAMS SURVEY, ABSTRACT No. 980,CITY OF WYLIE, COLLIN COUNTY,TEXAS. (ZONING CASE No. 2001-11) Executive Summary Property annexed on July 24, 2001, applicant requests rezoning of the 29.8629-acre tract to develop a single-family residential subdivision. Tract is not platted and is zoned Agriculture(A). It fronts approximately 925 feet along Elm Street(C.R. 381). The adjacent property to the east is undeveloped and currently used for agricultural crops, but is zoned Business-2(B-2),Multi-Family Residential(MF)and Single-Family-3 Residential(SF-3).To the west and north is not within the City of Wylie but within unincorporated Collin County occupied by scattered rural/suburban housing or used for field crops. To the south, across Elm Street, are within unincorporated Collin County and are developed with rural lots and dwellings. Public Comment Forms were mailed to five(5)property owners within 200 feet of this request. One Public Comment Form has been returned.FAVORING the proposed rezoning. For additional detail, please review Item 6 Agenda Communication with regard to compliance and requested variances to city ordinances. Page 2 of 4 Resolutions 7. CONSIDER AND ACT UPON A RESOLUTION NOMINATING CANDIDATES TO THE BOARD OF DIRECTORS FOR THE CENTRAL APPRAISAL DISTRICT OF COLLIN COUNTY FOR TWO-YEAR TERMS BEGINNING JANUARY 1,2002. Executive Summary The City of Wylie has been given 28 votes to cast in the election of the Board of Directors for the Central Appraisal District of Collin County. We may nominate from one to five candidates in open meeting. Said Resolution must be delivered to the Chief Appraiser before October 15,2001. 8, CONSIDER AND ACT UPON APPROVAL OF A RESOLUTION SUPPORTING THE APPLICATION BY THE TRINITY TRAIL ASSOCIATION OR A COLLIN PARK AND OPEN SPACE GRANT FOR THE PURPOSE OF PROVIDING IMPROVEMENTS TO THE TRAILHEAD OF THE TRINITY TRAIL AT LAKE LAVON. Executive Summary The 1998 Collin County Bond election established a pool of funding for park and open space development in Collin County, establishing a matching grant system as the means of distributing throughout the County. Staff was notified late August that the County was accepting grant applications for the development, expansion or improvement of parks and open space. The Trinity Trail Association will be submitting a grant application to the County for various improvements to the trail. Wylie's role in this grant would be to join with the Association and provide funding, as well as in-kind maintenance,to some of the proposed improvements to the trailhead located on Skyview Road. The 4B Fund balance for the FY2002 year is budgeted to be$370,460.00. The fund balance has intentionally been left at a relatively high level in order to provide matching funds for these and other grant opportunities. Staff would recommend a contribution to the proposed grant application in the amount of$20,000 to be used for improvements to the trailhead area. Staff recommends approval of the Resolution supporting the application by the Trinity Trail Association for a County Park and Open Space Grant - 9. CONSIDER AND ACT UPON APPROVAL OF A RESOLUTION AUTHORIZING THE APPLICATION FOR A COLLIN COUNTY PARK AND OPEN SPACE GRANT FOR THE PURPOSE OF DEVELOPING QUAIL MEADOW PARK. Executive Summary_ The 1998 Collin County Bond election established a pool of funding for park and open space development in Coffin County, establishing a matching grant system as the means of distributing throughout the County. Staff was notified late August that the County was accepting grant applications for the development, expansion or improvement of parks and open space. Quail Meadow Park improvements include a large playground, irrigation, landscaping, a trail around the park, benches, picnic tables, and possible lighting. Some funding ($40,000) was set aside within the FY2002 Budget. Staff will be submitting improvements (Centex Development 2 acres above requirement&the construction of parking lot)which are valued at approximately$50,000 as a part of the local match. The grant is generally set up as a reimbursement program. Direct payment may be considered by the County under special circumstances. Because so much of the value of the local match is from outside sources, stag will be requesting a direct payment. If that option is not accepted by the County, there is sufficient funding in the 4B Reserve Fund for payment. The 4B fund would be reimbursed as funds are received from the County. Staff recommends approval of the Resolution authorizing the application for a County Park and Open Space Grant. . .:: .: :: .:>-:...:::: ::: .: . .:> C C ::ougaK: :nab ota.c atituo.::.:: :::.::.: . WORK SS . UPDATE FROM CITY ENGINEER, CHRIS HOLSTER REGARDING THE RUSTIC OAKS DRAINAGE CHANNEL IMPROVEMENTS AND COMMENTS FROM THE PUBLIC MEETING HELD WITH THE PROPERTY OWNERS. Page 3 of 4 In addition to any specifically identified Executive Sessions, Council may convene into Executive Session at any point during the open meeting to discuss any item posted on this agenda. The Open Meetings Act provides specific exceptions that require that a meeting be open. Should Council elect to convene into Executive Session,the sections of the act authorizing the closed session will be identified and announced. Any subsequent action,as a result of this Executive Session,will be taken and recorded in open session. I certify that this Notice of Meeting was posted on this day of , 2001 at 5:00 p.m. as required by law in accordance with Section 551.042 of the Texas Government Code and that the appropriate news media contacted. As a courtesy,this agenda is also posted to the City of Wylie Website at www.ct.«zlie.tx.us City Secretary Date Notice Removed The Wylie Municipal Complex is Wheelchair accessible. Sign interpretation or other special assistance for disabled attendees must be requested 48 hours in advance by contacting the City Secretary's office at 972/442-8100 or TD 972/442-8170. Page 4 of 4 MINUTES Wylie City Council Tuesday, September 11, 2001 Wylie Municipal Complex —Council Chambers 2000 State Highway 78 North The Historical Celebration of the 100,000th check out at the Rita & Truett Smith Public Library originally scheduled for 5:15 p.m. was cancelled as a result of the national tragedy. The Celebration will be rescheduled to a later date. CALL::: :::b. E:Rt:::: iit : .. : ..... Council Present:Mayor John Mondy, Councilman Joel Scott, Councilwoman Reta Allen, Councilman Eric Hogue, Councilman Merrill Young, Councilman J.C. Worley and Councilman Chris Trout. Staff Present: Anthony Johnson. City Manager: Mindy Manson, Assistant City Manager; Brady Snellgrove, Finance Director; Chris Hoisted, City Engineer; Claude Thompson. Planner and Barbara Salinas, City Secretary. .QF ALLE( .Ne ;:::;:.;:.;:.:.. .:.::::::::::......::::::::::::....: Rev. Al Draper was present to provide the Invocation and Councilman Young was asked to lead the Pledge of Allegiance. The Mayor, assisted by the Mayor Pro Tem Scott presented Ms.. Susie Fendrick, Wylie Independent School District Coordinator of the HOST Program and several mentor representatives, the Proclamation declaring the week of September 10, 2001 as HOSTS (Helping One Student To Succeed) Week. Latabigtorodiwoolsromommouomoommolgooggigioiiiigniguligigi There was no participation. A. Approval of the Minutes from the August 7, Special Meeting and August 28,2001 Regular Meeting. Councilman Scott made a motion to approve the Minutes from the August 7. Special Meeting and August 28, 2001 Regular Meeting. Councilwoman Allen seconded the motion. A vote was taken and the motion was approved 7-0. The Mayor then announced that the Council would move to Item No. 8 on the Agenda. 8. Consider and act upon a Preliminary Plat for the Wylie United Methodist Church Addition, being that 15.00 acre tract described in deed to the Wylie United Methodist Church recorded in Volume 7386, Page 2560 of the Real Property Records of Collin County, Texas, and being situated in the William Patterson Survey,Abstract No. 716,City of Wylie,Collin County,Texas. Mr. Claude Thompson provided Council with a brief background on the request. He stated that both the Planning and Zoning Commission and Staff are recommending approval. Representatives from the Wylie United Methodist Church. Rev. John Thornton and Mr. Larry Johnson, 506 Horizon Court, Murphy. Texas,were both present to address any concerns of the Council. Minutes of September 11,2001 Wylie City Council Page 1 Councilman Worley made a motion to approve the Preliminary Plat for the Wylie United Methodist Church Addition,being that 15.00 acre tract described in deed to the Wylie United Methodist Church recorded in Volume 7386, Page 2560 of the Real Property Records of Collin County, Texas, and being situated in the William Patterson Survey, Abstract No. 716, City of Wylie. Collin County, Texas. Councilman Trout seconded the motion. A vote was taken and the motion was approved.7-0. Igitr.840113AVVOUNCitiCOINSjDERNIION;87NVACTIONNTINATIC.fi.Womemon2 Due to the national tragedy and the impact on all financial matters. Councilman Scott made a motion to table both Items 1 and 2. Councilman Reta Allen seconded the motion. A vote was taken and the motion was approved, 7-0. 1. Consider and act upon approval of an ordinance authorizing the issuance of $4,500,000 General Obligation Bonds,Series 2001,dated September 1,2001 and all other matters related thereto. 2. Consider and act upon approval of an Ordinance authorizing the issuance of$500,000 Tax Notes, Series 2001,dated September 1,2001 and all other matters related thereto. + fTV C NC1L 6 14 p.m. O:P CO.RPORA TON>:.:;:':>.: > ::>::' `>»;:::.:`'' 'ig The Parks and Recreation Facilities Development Corporation was called to order with the following members present. Mayor John Mondy, Councilman J.C. Worley. Councilman Chris Trout, Councilman Eric Hogue, and Shirley Burnett, Library Board Representative. Absent were Dan Chesnut and Jules Fanner, both Parks Board Representatives. la. Consider and act upon approval of the FY2002 4B Budget, authorizing expenditures for the Community Services Facility Capital Improvement Plan. Ms. Mindy Manson. Assistant City Manager. addressed this item stating the annual meeting of the Parks and Recreation Facilities Development Corporation is a [unction of the Board to authorize expenditures for the FY2001-2002. Councilman Trout made a motion to approve the FY2002 4B Budget,authorizing expenditures for the Community Services Facility Capital Improvement Plan. Councilman Worley seconded the motion. All those in favor, signified by raising their right hands. The 5-0 vote was unanimous.all voting in favor of the motion. iftaniiiaiREVOZATIONi!iFACILITtESi•;ii0E:VE.L.OrktErfri.iVOWORATIONsiiiiiiiiigionosimonign :1 3 : LDUAL CONSIDERATION AND ACTT 3. Consider and act upon approval of the FY2002 4B Budget and Community Service Facilities Capital Improvement Plan. Ms. Mindy Manson, Assistant City Manager. addressed this item stating that approval of the FY2002 4B Budget was the Council's part of the process to authorize the proposed budget expenditures. Councilman Hogue made a motion to approve the FY2002 -lB Budget and Community Service Facilities Capital Improvement Plan. Councilman Worley seconded the (notion. A vote was taken and the motion was approved, 7-0. Minutes of September 11,2001 Wylie City ('uuncil Page 2 4. Consider and act upon approval of an Ordinance amending the budget for Fiscal Year 2001, beginning October 1, 2000 and ending September 30, 2001; repealing all conflicting ordinances; containing a severability clause; and providing for an effective date. Mr. Brady Snellgrove, Finance Director, addressed this item providing Council a brief explanation of the proposed amendments to the FY2001 Budget. He listed the revenue changes to recognize the issuance of general obligation debt for street construction of$4. 500.000 and $500.000 for computer systems for public safety and finance in the General Fund. Expenditure budget increases included the purchase of land for $23,340 and $25,870 for a new computer system in Municipal Court. Councilman Worley made a motion to approve the Ordinance amending the budget for Fiscal Year 2001, beginning October 1, 2000 and ending September 30. 2001: repealing all conflicting ordinances; containing a severability clause; and providing for an effective date. Councilman Trout seconded the motion. A vote was taken and the motion was approved. 7-0. 5. Hold a public hearing and consider and act upon approval of an Ordinance of the City of Wylie, adopting a budget and appropriating resources for the fiscal year 2002, beginning October 1, 2001 and ending September 30,2002. Mr. Brady Snellgrove. Finance Director. addressed this item stating that the Ordinance would officially adopt the FY2001-2002 Budget appropriating said resources. He also added that. if approved, it would be adopted with a lower tax rate of$0.005. The Mayor then opened the public hearing and asked that anyone wishing to speak either in favor or opposition of the adoption of the FY201-2002 Budget, to please come forward, state their name and address for the record, and limit their comments to three minutes. With no response. the Mayor then closed the Public Hearing. Councilman Scott made a motion to approve the Ordinance of the City of Wylie, adopting a budget and appropriating resources for the fiscal year 2002. beginning October 1, 2001 and ending September 30, 2002. Councilman Young seconded the motion. A vote was taken and the motion was approved. 7-0. 6. Consider and act upon approval of an Ordinance fixing the tax rate/levy for 2001 and for the Fiscal Year 2001-2002 budget. Mr. Anthony Johnson, City Manager addressed this item stating that this ordinance would adopt a tax rate for 2001 and for the Fiscal Year 2001-2002.and that the proposed tax rate represents a one-half cent decrease. Councilman Hogue made a motion to approve the Ordinance fixing the(reduced) tax rate/levy for 2001 and for the Fiscal Year 2001-2002 budget. Councilman Worley seconded the motion. A vote was taken and the motion was approved, 7-0. 7. Consider and act upon appointing the "Task Force Advisory Committee" for the Parks and Recreation Open Space and Master Plan. Ms. Mindy Manson, Assistant City Manager addressed this item providing Council with a brief description of the intent of the consultant recommended Task Force Advisor Committee. After some discussion, it was decided to postpone the appointments until the next regular meeting of September 25, 2001. Councilman Hogue made a motion to table Item No. 7. the appointment of a "Task Force Advisory Committee" for the Parks and Recreation Open Space and Master Plan_ until the next regular meeting of September 25, 2001. Councilman Young seconded the motion. A yore was taken and the motion was approved. 7-0. \linutes a September 11,2001 Wylie('its Council Page 3 Agenda Item No. 8 had previously been considered. 9. Hold a Public Hearing to consider and act upon approval of a change in zoning from Single Family Residential— 2 (SF-2) to Townhouse (TH/15), for Lots 1 and 2A of the Russell No. 1 Addition and Lots 39A and 39D, Block 8 of the Brown and Burns Addition, being situated in the S.B. Shelby Survey,Abstract No. 820,City of Wylie,Collin County,Texas. (Zoning Case No. 2001-09 Mr. Claude Thompson. Planner addressed this item providing Council with a brief history of the Zoning Case No. 2001-09. Mr. Thompson stated that the applicant is requesting the rezoning of the subject property in order to develop attached residential units (duplexes or townhouses). The property is platted as Lot 1 and 2A of the Russell No. 1 Addition and Lots 39A and 39D of the Brown and Burns Addition. A deteriorated and abandoned residence occupies Lot 39A.and the other Lots are vacant. These parcels total 1.279 acres in size. Mr. Thompson stated that Public Comment Forms were (nailed to twenty-nine (29) property owners within 200 feet of this request and Five Public Comment Forms have been returned. two AGAINST and three FOR the proposed rezoning. Mr. Thompson stated that the applicant originally requested rezoning of a single lot for the development of a limited number of duplex residences. However, case law has concluded that such small, limited-use zoning districts are inappropriate. Furthermore. the newly adopted residential portion of the Zoning Ordinance provides only the Townhouse and Multi-Family Districts to accommodate all types of attached housing, and no longer provides for a specific Duplex District. The Townhousc District allows attached dwellings on individual lots, at a density of up to 15 units per acre, and is intended to provide flexibility of development,adjacent to mixed use and retail centers, and to mitigate environmental limitations. The proposed rezoning and anticipated duplexes comply with the purpose of the Townhouse District. Mr. Thompson stated that at the August 21. 2001 Planning and Zoning Commission meeting, Board voted 4-2 to deny the zone change request because of non-conformance to the Comprehensive Plan. A three-fourths majority vote by the City Council is required for approval of the requested change in zoning because the Planning and Zoning Commission recommended the request be denied. Mr. Thompson stated that staff is recommending Approval. The proposed zoning and use are compatible with the surrounding environment and existing development and can serve as a redevelopment stimulus for the area. The Applicant,Mr. Lawrence Newberry was present for any questions or concerns of the Council. The Mayor then opened the public hearing and asked that anyone wishing to speak either in favor or opposition of the Zoning request, to please come forward. state their name and address for the record,and limit their comments to three minutes. With no response,the Mayor then closed the Public Hearing. Councilman Trout made a motion to approve the change in zoning from Single Family Residential — 2 (SF-2) to Townhouse (TH/15), for Lots 1 and 2A of the Russell No. 1 Addition and Lots 39A and 39D, Block 8 of the Brown and Burns Addition. being situated in the S.B. Shelby Survey, Abstract No. 820, City of Wylie, Collin County, Texas. Councilwoman Allen seconded the motion. A vote was taken and the motion was approved, 7-0. 10. Consider and act upon an ordinance annexing all of a certain 49.277 acre tract of land out of the Allen Atterbury Survey, Abstract No. 23 and the Aaron West Survey, Abstract No. 979, and a certain 1.041 acre tract of alnd out of the Aaron West Survey, Abstract No. 979, located east of F.M. 544 and north of Wheelis Road. Ms. Mindy Manson addressed this item providing Council with a brief background of the annexation, stating that adoption of the proposed ordinance will complete the process. Councilman Scott made a motion to approve the ordinance annexing all of a certain 49.277 acre tract of land out of the Allen Atterbury Survey, Abstract No. 23 and the Aaron West Survey, Abstract No. 979, and a certain 1.041 acre tract of land out of the Aaron West Survey. Abstract No. 979, located east of F.M. 544 and north of Wheelis Road. Councilman Trout seconded the motion. A vote was taken and the motion was approved, 7-0. Minutes of September 11,2(101 Wylie( (buncil 1'a_�, 4 E CUTIVE SESSION- 6:39 p.m; Mr. Robert Hager, Legal Counsel representing the Cit of Wylie, addressed council and requested that the Mayor authorize an executive session in accordance with Section 551.071, Consultation with Attorney on a matter in which the duty of the attorney to the governmental bock under the Texas Disciplinary Rules of Professional Conduct of the State Bar of Texas clearly conflicts with this Chapter. RI cONVE E CI .'Y COIfNCIL- 6:58 p.m. 11. Consider and act upon approval of an ordinance imposing interim Impact Fees, establishing a collection date,establishing a date to call a public hearing to amend the Impact Fees,and providing for an expiration date. Councilman Scott made a motion to approve the Ordinance imposing interim Impact Fees, establishing a collection date, establishing a date to call a public hearing to amend the Impact Fees, and providing for an expiration date. Councilman Trout seconded the motion. A Vote was taken and the motion was approved, 7-0. 12. Hold a public hearing to consider and act upon an ordinance modifying the participation policies in the Subdivision Regulations. Chris Hoisted, City Engineer addressed this item pros'cling Council with a brief background on the intent of the Ordinance. Mr. Hoisted explained that Section 6 of the Subdivision Regulations identifies facilities that are eligible for City participation such as thoroughfares with a pavement width exceeding 18.5 feet per side and storm sewers larger than 72-inches. The proposed ordinance modifies Section 6 and makes the cost for infrastructure improvements the responsibility of the developer. The Mayor then opened the public hearing and asked that anyone wishing to speak either in favor or opposition of the proposed Ordinance, to please come forward. state their name and address for the record, and limit their comments to three minutes. With no response. the Mayor then closed the Public Hearing. Councilman Worley made a motion to approve the ordinance modifying the participation policies in the Subdivision Regulations. Councilman Young seconded the motion. A vote was taken and the motion was approved, 7-0. EANNIO OP ORD NANCES TITLE C'APTIO AP#00ki ' ' : :M...:.. i EE RDBY WYLI.E CITY CIHARTERI ARTICLE I[I,SECTION I3. , >::;::;.:..:: :>'> >'>::: The Captions for approved Ordinances. Numbers 2001-3 7. 38. 39. 40, 41, 42, and 43 were read into the record by the City Secretary. At 7:05 p.m. the Mayor called for a five-minute recess before adjourning into the scheduled Work Session. SON Update by City Engineer,Chris Hoisted, regarding the Kirby/Stone Alignment. Mr. Chris Holsted, City Engineer provided Council with a brief presentation of the proposed alignment for Kirby and Stone. He presented an aerial photo with a draft of the proposed aligmnent. showing the Kirby/Stone alignment as it continues east on Stone Road. There was sonic discussion regarding the required right of way acquisitions and traffic concerns on Stone Road as it applies to the residents. Mr. Hoisted provided an estimated time frame of one year for this project (alignment ontVl_ with consideration given to design, right of way acquisitions,and construction.after direction from council and staff. Minutes 4 September 11,2001 Wylie( (buncil Page 5 With no further business to come before the Council. the meeting was adjourned at 7:35 p.m. John Mondy,Mayor ATTEST: Barbara A Salinas, City Secretar Minutes of September 11,2001 NN`vlie('ity Council Page 6 WYLIE CITY COUNCIL AGENDA ITEM NO. 1 September 25, 2001 Issue Consider and act upon approval of an Ordinance authorizing the issuance of $4,500,000 General Obligation Bonds, Series 2001, dated September 1, 2001 and all other matters related thereto. Background The City is issuing $4,500,000 of the $17,940,000 in general obligation bonds authorized by the election held May 8, 1999. The bonds will be utilized for street improvements. The bids for Bonds will be publicly opened and read at the offices of the Financial Advisor, at 11:30 a.m. CDT, Tuesday, September 25, 2001. The bonds are being sold in one block on an "All or None" basis. The sale of the Bonds will be awarded to the bidder making a bid that conforms to the Bidding Instructions and which produces the lowest True Interest Cost rate to the City. The bidders on municipal bonds are typically financial institutions or groups that intend to retail the bond to institutions or individual investors. The City's Financial Advisor, First Southwest Company, will present the results of the bidding at the Council meeting on September 25, 2001. Other Considerations The City Council can take action to award the Bonds or reject all bids at this meeting. If the bonds are awarded, the Council will need to adopt an ordinance authorizing the Bonds and approving the Official Statement (the Ordinance). A Good Faith Deposit of $90,000 will be required from the successful bidder. Financial Consideration The debt service requirements for the new bonds will be funded from property taxes. The average annual debt service payment of the twenty year amortization of the $4,500,000 in new bonds is estimated to be $370,170. Board/Commission Recommendations N/A Staff Recommendations Staff recommends that the City Council adopt the proposed ordinance authorizing the issuance of $4,500,000 General Obligation Bonds, Series 2001, per the recommendation of the First Southwest Company. Attachments Ordinance Br Snell rove in City Ma age rival Prepared by Revie by ance y g p WYLIE CITY COUNCIL AGENDA ITEM NO. I September 25, 2001 Issue Consider and act upon approval of an Ordinance authorizing the issuance of $4,500,000 General Obligation Bonds, Series 2001, dated September 1, 2001 and all other matters related thereto. Background The City is issuing $4,500,000 of the $17,940,000 in general obligation bonds authorized by the election held May 8, 1999. The bonds will be utilized for street improvements. The bids for Bonds will be publicly ope ed and read at the offices of the Financial Advisor, at 11:30 a.m. CDT, Tuesday, Septembe> 1 , 2001. The bonds are being sold in one block on an "All or None" basis. The sale of the Bonds will be awarded to the bidder making a bid that conforms to the Bidding Instructions and which produces the lowest True Interest Cost rate to the City. The bidders on municipal bonds are typically financial institutions or groups that intend to retail the bond to institutions or individual investors. The City's Financial Advisor, Firs outhwest Company, will present the results of the bidding at the Council meeting on Septembe 11 2001. Other Considerations The City Council can take action to award the Bonds or reject all bids at this meeting. If the bonds are awarded, the Council will need to adopt an ordinance authorizing the Bonds and approving the Official Statement (the Ordinance). A Good Faith Deposit of $90,000 will be required from the successful bidder. Financial Consideration The debt service requirements for the new bonds will be funded from property taxes. The average annual debt service payment of the twenty year amortization of the $4,500,000 in new bonds is estimated to be $370,170. Board/Commission Recommendations N/A Staff Recommendations Staff recommends that the City Council adopt the proposed ordinance authorizing the issuance of $4,500,000 General Obligation Bonds, Series 2001, per the recommendation of the First Southwest Company. Attachments Ordinance Brady Snellgrove Prepared by Reviewed by Finance ity Ma ager Approval ORDINANCE NO. AN ORDINANCE authorizing the issuance of "CITY OF WYLIE, TEXAS, GENERAL OBLIGATION BONDS, SERIES 2001"; specifying the terms and features of said bonds; levying a continuing direct annual ad valorem tax for the payment of said bonds; and resolving other matters incident and related to the issuance, sale, payment and delivery of said bonds, including the approval and execution of a Paying Agent/Registrar Agreement and the approval and distribution of an Official Statement; and providing an effective date. WHEREAS, the City Council of the City of Wylie, Texas hereby finds and determines that $4,500,000 in principal amount of general obligation bonds approved and authorized to be issued at an election held May 1, 1999 should be issued and sold at this time; a summary of the general obligation bonds authorized at said election, the principal amounts authorized, amounts heretofore issued, amounts being issued pursuant to this ordinance and amounts remaining to be issued subsequent hereto being as follows: Amounts Amounts Heretofore Amounts Unissued Purpose Authorized Issued Being Issued Balance Streets $15,910,000 $3,600,000 $4,500,000 $7,810,000 Drainage 1,280,000 850,000 -0- 430,000 AND WHEREAS, the Council hereby reserves and retains the right to issue the balance of unissued bonds approved at said election in one or more installments when, in the judgment of the Council, funds are needed to accomplish the purposes for which such bonds were voted; now, therefore, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF WYLIE, TEXAS: SECTION 1. Authorization- Designation- Principal Amount- Purpose. General obligation bonds of the City shall be and are hereby authorized to be issued in the aggregate principal amount of $4,500,000 to be designated and bear the title "CITY OF WYLIE, TEXAS, GENERAL OBLIGATION BONDS, SERIES 2001" (hereinafter referred to as the "Bonds"), for permanent public improvements and public purposes, to wit: street improvements, including drainage, curb, gutters, sidewalks, landscaping, traffic signalization and utility line relocation and the acquisition of land and right-of-way therefor, in accordance with authority conferred at the aforesaid election and in conformity with the Constitution and laws of the State of Texas, including V.T.C.A., Government Code, Section 1331.052. SECTION 2. Fully Registered Obligations — Bond Date — Authorized Denominations-Stated Maturities-Interest Rates. The Bonds shall be issued as fully registered obligations only, shall be dated September 1, 2001 (the "Bond Date"), shall be in denominations of $5,000 or any integral multiple (within a Stated Maturity) thereof, and shall become due and payable on February 15 in each of the years and in principal amounts (the"Stated Maturities") in accordance with the following schedule: 45077343.1 -1- Year of Principal 'Interest Stated Maturity Amount Rate(s) 2002 $ 135,000 % 2003 135,000 % 2004 140,000 2005 150,000 2006 160,000 % 2007 165,000 2008 175,000 % 2009 185,000 % 2010 195,000 cyo 2011 210,000 0/0 2012 220,000 % 2013 230,000 % 2014 245,000 % 2015 260,000 2016 275,000 2017 290,000 yo 2018 305,000 % 2019 325,000 2020 340,000 2021 360,000 % The Bonds shall bear interest on the unpaid principal amounts from the Bond Date at the rate(s) per annum shown above in this Section (calculated on the basis of a 360-day year of twelve 30-day months). Interest on the Bonds shall be payable on February 15 and August 15 in each year, commencing February 15, 2002. SECTION 3. Terms of Payment-Paying Agent/Registrar. The principal of, premium, if any, and the interest on the Bonds, due and payable by reason of maturity, redemption or otherwise, shall be payable only to the registered owners or holders of the Bonds (hereinafter called the "Holders") appearing on the registration and transfer books maintained by the Paying Agent/Registrar, and such payment shall be in any coin or currency of the United States of America, which at the time of payment is legal tender for the payment of public and private debts, and shall be without exchange or collection charges to the Holders. The selection and appointment of The Chase Manhattan Bank to serve as Paying Agent/Registrar for the Bonds is hereby approved and confirmed. Books and records relating to the registration, payment, transfer and exchange of the Bonds (the "Security Register") shall at all times be kept and maintained on behalf of the City by the Paying Agent/Registrar, as provided herein and in accordance with the terms and provisions of a "Paying Agent/ Registrar Agreement", substantially in the form attached hereto as Exhibit A, and such reasonable rules and regulations as the Paying Agent/Registrar and the City may prescribe. The Mayor and City Secretary are authorized to execute and deliver such Agreement in connection with the delivery of the Bonds. The City covenants to maintain and provide a Paying Agent/Registrar at all times until the Bonds are paid and discharged, and any successor Paying Agent/Registrar shall be a bank, trust company, financial institution or other entity qualified and authorized to serve in such capacity and perform the duties and services of Paying Agent/Registrar. Upon any change in the Paying Agent/Registrar for the Bonds, the City agrees to promptly cause a written notice 45077343.1 -2- thereof to be sent to each Holder by United States Mail, first class postage prepaid, which notice shall also give the address of the new Paying Agent/Registrar. Principal of and premium, if any, on the Bonds shall be payable at the Stated Maturities or the redemption thereof, only upon presentation and surrender of the Bonds to the Paying Agent/Registrar at its designated offices in Dallas, Texas (the "Designated Payment/Transfer Office"). Interest on the Bonds shall be paid to the Holders whose name appears in the Security Register at the close of business on the Record Date (the last business day of the month next preceding each interest payment date) and shall be paid by the Paying Agent/Registrar (i) by check sent United States Mail, first class postage prepaid, to the address of the Holder recorded in the Security Register or (ii) by such other method, acceptable to the Paying Agent/Registrar, requested by, and at the risk and expense of, the Holder. If the date for the payment of the principal of or interest on the Bonds shall be a Saturday, Sunday, a legal holiday, or a day when banking institutions in the City where the Designated Payment/Transfer Office of the Paying Agent/Registrar is located are authorized by law or executive order to close, then the date for such payment shall be the next succeeding day which is not such a Saturday, Sunday, legal holiday, or day when banking institutions are authorized to close; and payment on such date shall have the same force and effect as if made on the original date payment was due. In the event of a nonpayment of interest on a scheduled payment date, and for thirty (30) days thereafter, a new record date for such interest payment (a "Special Record Date") will be established by the Paying Agent/ Registrar, if and when funds for the payment of such interest have been received from the City. Notice of the Special Record Date and of the scheduled payment date of the past due interest (which shall be 15 days after the Special Record Date) shall be sent at least five (5) business days prior to the Special Record Date by United States Mail, first class postage prepaid, to the address of each Holder appearing on the Security Register at the close of business on the last business day next preceding the date of mailing of such notice. SECTION 4. Redemption. (a) Optional Redemption. The Bonds having Stated Maturities on and after February 15, 2012, shall be subject to redemption prior to maturity, at the option of the City, in whole or in part in principal amounts of $5,000 or any integral multiple thereof (and if within a Stated Maturity by lot by the Paying Agent/Registrar), on February 15, 2011 or on any date thereafter at the redemption price of par plus accrued interest to the date of redemption. At least forty-five (45) days prior to a redemption date for the Bonds (unless a shorter notification period shall be satisfactory to the Paying Agent/Registrar), the City shall notify the Paying Agent/Registrar of the decision to redeem Bonds, the principal amount of each Stated Maturity to be redeemed, and the date of redemption therefor. The decision of the City to exercise the right to redeem Bonds shall be entered in the minutes of the governing body of the City. (b) Mandatory Redemption. The Bonds having Stated Maturities of February 15„ 20 , February 15, 20 and February 15, 20 (the "Term Bonds") shall be subject to mandatory redemption in part prior to maturity at the redemption price of par and accrued interest to the date of redemption on the respective dates and in principal amounts as follows: 45077343.1 -3- • Term Bonds due February 15, 20 Term Bonds due February 15, 20 Redemption Date Principal Amount Redemption Date Principal Amount February 15, 20 $ ,000 February 15, 20 $ ,000 February 15, 20 $ ,000 February 15, 20 $ ,000 Term Bonds due February 15, 20 Redemption Date Principal Amount February 15, 20 $ ,000 February 15, 20 $ ,000 August 1, 20 $ ,000 Approximately forty-five (45) days prior to each redemption date specified above the Term Bonds are to be mandatorily redeemed, the Paying Agent/Registrar shall select by lot the numbers of the Term Bonds within the applicable Stated Maturity to be redeemed on the next following February 15 from moneys set aside for that purpose in the Interest and Sinking Fund (as hereinafter defined). Any Term Bond not selected for prior redemption shall be paid on the date of their Stated Maturity. The principal amount of the Term Bonds for a Stated Maturity required to be redeemed pursuant to the operation of such mandatory redemption provisions may be reduced, at the option of the City, by the principal amount of Term Bonds of like Stated Maturity which, at least 50 days prior to a mandatory redemption date, (1) shall have been acquired by the City at a price not exceeding the principal amount of such Term Bonds plus accrued interest to the date of purchase thereof, and delivered to the Paying Agent/Registrar for cancellation or (2) shall have been redeemed pursuant to the optional redemption provisions set forth in paragraph(a) of this Section and not theretofore credited against a mandatory redemption requirement. (c) Selection of Bonds for Redemption. If less than all Outstanding Bonds of the same Stated Maturity are to be redeemed on a redemption date, the Paying Agent/Registrar shall treat such Bonds as representing the number of Bonds Outstanding which is obtained by dividing the principal amount of such Bonds by $5,000 and shall select the Bonds, or principal amount thereof, to be redeemed within such Stated Maturity by lot. (d) Notice of Redemption. Not less than thirty (30) days prior to a redemption date for the Bonds, a notice of redemption shall be sent by United States Mail, first class postage prepaid, in the name of the City and at the City's expense, to each Holder of a Bond to be redeemed in whole or in part at the address of the Holder appearing on the Security Register at the close of business on the business day next preceding the date of mailing such notice, and any notice of redemption so mailed shall be conclusively presumed to have been duly given irrespective of whether received by the Holder. All notices of redemption shall (i) specify the date of redemption for the Bonds, (ii) identify the Bonds to be redeemed and, in the case of a portion of the principal amount to be redeemed, the principal amount thereof to be redeemed, (iii) state the redemption price, (iv) state that the Bonds, or the portion of the principal amount thereof to be redeemed, shall become due and payable on the redemption date specified, and the interest thereon, or on the portion of the principal amount thereof to be redeemed, shall cease to accrue from and after the 45077343.1 -4- redemption date, and (v) specify that payment of the redemption price for the Bonds, or the principal amount thereof to be redeemed, shall be made at the Designated Payment/Transfer Office of the Paying Agent/Registrar only upon presentation and surrender thereof by the Holder. If a Bond is subject by its terms to prior redemption, and has been called for redemption, and notice of redemption thereof has been duly given as hereinabove provided, such Bond (or the principal amount thereof to be redeemed) shall become due and payable and interest thereon shall cease to accrue from and after the redemption date therefor; provided moneys sufficient for the payment of such Bond (or of the principal amount thereof to be redeemed) at the then applicable redemption price are held for the purpose of such payment by the Paying Agent/Registrar. SECTION 5. Registration - Transfer - Exchange of Bonds-Predecessor Bonds. The Paying Agent/Registrar shall obtain, record, and maintain in the Security Register the name and address of each and every owner of the Bonds issued under and pursuant to the provisions of this Ordinance, or if appropriate, the nominee thereof. Any Bond may be transferred or exchanged for Bonds of other authorized denominations by the Holder, in person or by his duly authorized agent, upon surrender of such Bond to the Paying Agent/Registrar for cancellation, accompanied by a written instrument of transfer or request for exchange duly executed by the Holder or by his duly authorized agent, in form satisfactory to the Paying Agent/Registrar. Upon surrender of any Bond (other than the single Initial Bond hereinafter referenced) for transfer at the Designated Payment/Transfer Office of the Paying Agent/Registrar, the Paying Agent/Registrar shall register and deliver, in the name of the designated transferee or transferees, one or more new Bonds of authorized denominations and having the same Stated Maturity and of a like aggregate principal amount as the Bond or Bonds surrendered for transfer. At the option of the Holder, Bonds (other than the single Initial Bond hereinafter referenced) may be exchanged for other Bonds of authorized denominations and having the same Stated Maturity, bearing the same rate of interest and of like aggregate principal amount as the Bonds surrendered for exchange, upon surrender of the Bonds to be exchanged at the Designated Payment/Transfer Office of the Paying Agent/Registrar. Whenever any Bonds are surrendered for exchange, the Paying Agent/Registrar shall register and deliver new Bonds to the Holder requesting the exchange. All Bonds issued in any transfer or exchange of Bonds shall be delivered to the Holders at the Designated Payment/Transfer Office of the Paying Agent/Registrar or sent by United States Mail, first class, postage prepaid to the Holders, and, upon the registration and delivery thereof, the same shall be the valid obligations of the City, evidencing the same obligation to pay, and entitled to the same benefits under this Ordinance, as the Bonds surrendered in such transfer or exchange. All transfers or exchanges of Bonds pursuant to this Section shall be made without expense or service charge to the Holder, except as otherwise herein provided, and except that the Paying Agent/Registrar shall require payment by the Holder requesting such transfer or exchange of any tax or other governmental charges required to be paid with respect to such transfer or exchange. Bonds cancelled by reason of an exchange or transfer pursuant to the provisions hereof are hereby defined to be "Predecessor Bonds," evidencing all or a portion, as the case may be, of the same obligation to pay evidenced by the new Bond or Bonds registered and delivered in 45077343.1 -5- the exchange or transfer therefor. Additionally, the term "Predecessor Bonds" shall include any mutilated, lost, destroyed, or stolen Bond for which a replacement Bond has been issued, registered, and delivered in lieu thereof pursuant to the provisions of Section 11 hereof and such new replacement Bond shall be deemed to evidence the same obligation as the mutilated, lost, destroyed, or stolen Bond. Neither the City nor the Paying Agent/Registrar shall be required to issue or transfer to an assignee of a Holder any Bond called for redemption, in whole or in part, within 45 days of the date fixed for the redemption of such Bond; provided, however, such limitation on transferability shall not be applicable to an exchange by the Holder of the unredeemed balance of a Bond called for redemption in part. SECTION 6. Book-Entry Only Transfers and Transactions. Notwithstanding the provisions contained in Sections 3, 4 and 5 hereof relating to the payment, and transfer/exchange of the Bonds, the City hereby approves and authorizes the use of "Book-Entry Only" securities clearance, settlement and transfer system provided by The Depository Trust Company (DTC), a limited purpose trust company organized under the laws of the State of New York, in accordance with the operational arrangements referenced in the Blanket Issuer Letter of Representations, by and between the City and DTC (the "Depository Agreement"). Pursuant to the Depository Agreement and the rules of DTC, the Bonds shall be deposited with DTC who shall hold said Bonds for its participants (the "DTC Participants"). While the Bonds are held by DTC under the Depository Agreement, the Holder of the Bonds on the Security Register for all purposes, including payment and notices, shall be Cede & Co., as nominee of DTC, notwithstanding the ownership of each actual purchaser or owner of each Bond (the "Beneficial Owners") being recorded in the records of DTC and DTC Participants. In the event DTC determines to discontinue serving as securities depository for the Bonds or otherwise ceases to provide book-entry clearance and settlement of securities transactions in general or the City determines that DTC is incapable of properly discharging its duties as securities depository for the Bonds, the City covenants and agrees with the Holders of the Bonds to cause Bonds to be printed in definitive form and provide for the Bond certificates to be issued and delivered to DTC Participants and Beneficial Owners, as the case may be. Thereafter, the Bonds in definitive form shall be assigned, transferred and exchanged on the Security Register maintained by the Paying Agent/Registrar and payment of such Bonds shall be made in accordance with the provisions of Sections 3, 4 and 5 hereof. SECTION 7. Execution - Registration. The Bonds shall be executed on behalf of the City by the Mayor under its seal reproduced or impressed thereon and countersigned by the City Secretary. The signature of said officers on the Bonds may be manual or facsimile. Bonds bearing the manual or facsimile signatures of individuals who are or were the proper officers of the City on the Bond Date shall be deemed to be duly executed on behalf of the City, notwithstanding that such individuals or either of them shall cease to hold such offices at the time of delivery of the Bonds to the initial purchaser(s) and with respect to Bonds delivered in subsequent exchanges and transfers, all as authorized and provided in V.T.C.A., Government Code, Chapter 1201. No Bond shall be entitled to any right or benefit under this Ordinance, or be valid or obligatory for any purpose, unless there appears on such Bond either a certificate of registration substantially in the form provided in Section 9C, manually executed by the Comptroller of Public 45077343.1 -6- Accounts of the State of Texas, or his duly authorized agent, or a certificate of registration substantially in the form provided in Section 9D, manually executed by an authorized officer, employee or representative of the Paying Agent/Registrar, and either such certificate duly signed upon any Bond shall be conclusive evidence, and the only evidence, that such Bond has been duly certified, registered, and delivered. SECTION 8. Initial Bond(s). The Bonds herein authorized shall be initially issued either (i) as a single fully registered bond in the total principal amount of $4,500,000 with principal installments to become due and payable as provided in Section 2 hereof and numbered T-1, or (ii) as multiple fully registered bonds, being one bond for each year of maturity in the applicable principal amount and denomination and to be numbered consecutively from T-1 and upward (hereinafter called the "Initial Bond(s)") and, in either case, the Initial Bond(s) shall be registered in the name of the initial purchaser(s) or the designee thereof. The Initial Bond(s) shall be the Bonds submitted to the Office of the Attorney General of the State of Texas for approval, certified and registered by the Office of the Comptroller of Public Accounts of the State of Texas and delivered to the initial purchaser(s). Any time after the delivery of the Initial Bond(s), the Paying Agent/Registrar, pursuant to written instructions from the initial purchaser(s), or the designee thereof, shall cancel the Initial Bond(s) delivered hereunder and exchange therefor definitive Bonds of authorized denominations, Stated Maturities, principal amounts and bearing applicable interest rates for transfer and delivery to the Holders named at the addresses. identified therefor; all pursuant to and in accordance with such written instructions from the initial purchaser(s), or the designee thereof, and such other information and documentation as the Paying Agent/Registrar may reasonably require. SECTION 9. Forms. A. Forms Generally. The Bonds, the Registration Certificate of the Comptroller of Public Accounts of the State of Texas, the Registration Certificate of Paying Agent/Registrar, and the form of Assignment to be printed on each of the Bonds, shall be substantially in the forms set forth in this Section with such appropriate insertions, omissions, substitutions, and other variations as are permitted or required by this Ordinance and may have such letters, numbers, or other marks of identification (including identifying numbers and letters of the Committee on Uniform Securities Identification Procedures of the American Bankers Association) and such legends and endorsements (including insurance legends in the event the Bonds, or any maturities thereof, are purchased with insurance and any reproduction of an opinion of counsel) thereon as may, consistently herewith, be established by the City or determined by the officers executing such Bonds as evidenced by their execution. Any portion of the text of any Bonds may be set forth on the reverse thereof, with an appropriate reference thereto on the face of the Bond. The definitive Bonds and the Initial Bond(s) shall be printed, lithographed, or engraved, typewritten, photocopied or otherwise reproduced in any other similar manner, all as determined by the officers executing such Bonds as evidenced by their execution thereof. 45077343.1 -7- • B. Form of Definitive Bond. • REGISTERED REGISTERED NO. $ UNITED STATES OF AMERICA STATE OF TEXAS CITY OF WYLIE, TEXAS GENERAL OBLIGATION BOND, SERIES 2001 Bond Date: Interest Rate: Stated Maturity: CUSIP NO: September 1, 2001 Registered Owner: Principal Amount: DOLLARS The City of Wylie (hereinafter referred to as the "City"), a body corporate and political subdivision in the County of Collin, State of Texas, for value received, acknowledges itself indebted to and hereby promises to pay to the order of the Registered Owner named above, or the registered assigns thereof, on the Stated Maturity date specified above the Principal Amount hereinabove stated (or so much thereof as shall not have been paid upon prior redemption) and to pay interest on the unpaid principal amount hereof from the Bond Date at the per annum rate of interest specified above computed on the basis of a 360-day year of twelve 30-day months; such interest being payable on February 15 and August 15 in each year, commencing February 15, 2002. Principal of this Bond is payable at its Stated Maturity or redemption to the registered owner hereof, upon presentation and surrender, at the Designated Payment/Transfer Office of the Paying Agent/Registrar executing the registration certificate appearing hereon, or its successor; provided, however, while this Bond is registered to Cede & Co., the payment of principal upon a partial redemption of the principal amount hereof may be accomplished without presentation and surrender of this Bond. Interest is payable to the registered owner of this Bond (or one or more Predecessor Bonds, as defined in the Ordinance hereinafter referenced) whose name appears on the "Security Register" maintained by the Paying Agent/Registrar at the close of business on the "Record Date", which is the last business day of the month next preceding each interest payment date, and interest shall be paid by the Paying Agent/Registrar by check sent United States Mail, first class postage prepaid, to the address of the registered owner recorded in the Security Register or by such other method, acceptable to the Paying Agent/Registrar, requested by, and at the risk and expense of, the registered owner. All payments of principal of, premium, if any, and interest on this Bond shall be without exchange or collection charges to the owner hereof and in any coin or currency of the United States of America which at the time of payment is legal tender for the payment of public and private debts. This Bond is one of the series specified in its title issued in the aggregate principal amount of $4,500,000 (herein referred to as the "Bonds") for permanent public improvements and public purposes, to wit: street improvements, including drainage, curb, gutters, sidewalks, landscaping, traffic signalization and utility line relocation and the acquisition of land and right- of-way therefor, under and in strict conformity with the Constitution and laws of the State of Texas and pursuant to an Ordinance adopted by the City Council of the City (herein referred to as the"Ordinance"). 45077343.1 -8- The Bonds maturing on the date hereinafter identified (the•"Term Bonds") are subject to mandatory redemption prior to maturity with funds on deposit in the Interest and Sinking Fund established and maintained for the payment thereof in the Ordinance, and shall be redeemed in part prior to maturity at the price of par and accrued interest thereon to the date of redemption, and without premium, on the date and in the principal amount as follows: Term Bonds due February 15, 20 Term Bonds due February 15, 20 Redemption Date Principal Amount Redemption Date Principal Amount February 15, 20 $ ,000 February 15, 20 $ ,000 February 15, 20 $ ,000 February 15, 20 $ ,000 Term Bonds due February 15, 20 Redemption Date Principal Amount February 15, 20 $ ,000 February 15, 20 $ ,000 August 1, 20 $ ,000 The particular Term Bonds of a stated maturity to be redeemed on each redemption date shall be chosen by lot by the Paying Agent/Registrar; provided, however, that the principal amount of Term Bonds for a stated maturity required to be redeemed pursuant to the operation of such mandatory redemption provisions may be reduced, at the option of the City, by the principal amount of Term Bonds of like stated maturity which, at least 50 days prior to a mandatory redemption date, (1) shall have been acquired by the City at a price not exceeding the principal amount of such Term Bonds plus accrued interest to the date of purchase thereof, and delivered to the Paying Agent/Registrar for cancellation or (2) shall have been redeemed pursuant to the optional redemption provisions appearing below and not theretofore credited against a mandatory redemption requirement. The Bonds maturing on and after February 15, 2012, may be redeemed prior to their Stated Maturities, at the option of the City, in whole or in part in principal amounts of $5,000 or any integral multiple thereof (and if within a Stated Maturity by lot by the Paying Agent/Registrar), on February 15, 2011, or on any date thereafter, at the redemption price of par, together with accrued interest to the date of redemption. At least thirty days prior to the date fixed for any redemption of Bonds, the City shall cause a written notice of such redemption to be sent by United States Mail, first class postage prepaid, to the registered owners of each Bond to be redeemed at the address shown on the Security Register and subject to the terms and provisions relating thereto contained in the Ordinance. If a Bond (or any portion of its principal sum) shall have been duly called for redemption and notice of such redemption duly given, then upon such redemption date such Bond (or the portion of its principal sum to be redeemed) shall become due and payable, and interest thereon shall cease to accrue from and after the redemption date therefor, provided moneys for the payment of the redemption price and the interest on the principal amount to be • redeemed to the date of redemption are held for the purpose of such payment by the Paying Agent/Registrar. 45077343.1 -9- In the event a portion of the principal amount of a Bond is to be redeemed and the registered owner is someone other than Cede & Co., payment of the redemption price of such principal amount shall be made to the registered owner only upon presentation and surrender of such Bond to the Designated Payment/Transfer Office of the Paying Agent/Registrar, and a new Bond or Bonds of like maturity and interest rate in any authorized denominations provided by the Ordinance for the then unredeemed balance of the principal sum thereof will be issued to the registered owner, without charge. If a Bond is selected for redemption, in whole or in part, the City and the Paying Agent/Registrar shall not be required to transfer such Bond to an assignee of the registered owner within 45 days of the redemption date therefor; provided, however, such limitation on transferability shall not be applicable to an exchange by the registered owner of the unredeemed balance of a Bond redeemed in part. The Bonds are payable from the proceeds of an ad valorem tax levied, within the limitations prescribed by law, upon all taxable property in the City. Reference is hereby made to the Ordinance, a copy of which is on file in the Designated Payment/Transfer Office of the Paying Agent/Registrar, and to all of the provisions of which the owner or holder of this Bond by the acceptance hereof hereby assents, for definitions of terms; the description of and the nature and extent of the tax levied for the payment of the Bonds; the terms and conditions relating to the transfer or exchange of this Bond; the conditions upon which the Ordinance may be amended or supplemented with or without the consent of the Holders; the rights, duties, and obligations of the City and the Paying Agent/Registrar; the terms and provisions upon which this Bond may be discharged at or prior to its maturity or redemption, and deemed to be no longer Outstanding thereunder; and for other terms and provisions contained therein. Capitalized terms used herein have the meanings assigned in the Ordinance. This Bond, subject to certain limitations contained in the Ordinance, may be transferred on the Security Register only upon its presentation and surrender at the Designated Payment/Transfer Office of the Paying Agent/Registrar, with the Assignment hereon duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Paying Agent/Registrar duly executed by, the registered owner hereof, or his duly authorized agent. When a transfer on the Security Register occurs, one or more new fully registered Bonds of the same Stated Maturity, of authorized denominations, bearing the same rate of interest, and of the same aggregate principal amount will be issued by the Paying Agent/Registrar to the designated transferee or transferees. The City and the Paying Agent/Registrar, and any agent of either, shall treat the registered owner whose name appears on the Security Register (i) on the Record Date as the owner entitled to payment of interest hereon, (ii) on the date of surrender of this Bond as the owner entitled to payment of principal hereof at its Stated Maturity or its redemption, in whole or in part, and (iii) on any other date as the owner for all other purposes, and neither the City nor the Paying Agent/Registrar, or any agent of either, shall be affected by notice to the contrary. In the event of nonpayment of interest on a scheduled payment date and for thirty (30) days thereafter, a new record date for such interest payment (a "Special Record Date") will be established by the Paying Agent/Registrar, if and when funds for the payment of such interest have been received from the City. Notice of the Special Record Date and of the scheduled payment date of the past due interest (which shall be 15 days after the Special Record Date) shall be sent at least five (5) business days prior to the Special Record Date by United States Mail, first class postage prepaid, to the address of each Holder appearing on the Security Register at the close of business on the last business day next preceding the date of mailing of such notice. 45077343.1 -10- It is hereby certified, recited, represented and declared that the City is a body corporate and political subdivision duly organized and legally existing under and by virtue of the Constitution and laws of the State of Texas; that the issuance of the Bonds is duly authorized by law; that all acts, conditions and things required to exist and be done precedent to and in the issuance of the Bonds to render the same lawful and valid obligations of the City have been properly done, have happened and have been performed in regular and due time, form and manner as required by the Constitution and laws of the State of Texas, and the Ordinance; that the Bonds do not exceed any Constitutional or statutory limitation; and that due provision has been made for the payment of the principal of and interest on the Bonds by the levy of a tax as aforestated. In case any provision in this Bond shall be invalid, illegal, or unenforceable, the validity, legality, and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. The terms and provisions of this Bond and the Ordinance shall be construed in accordance with and shall be governed by the laws of the State of Texas. IN WITNESS WHEREOF, the City Council of the City has caused this Bond to be duly executed under the official seal of the City as of the Bond Date. CITY OF WYLIE, TEXAS Mayor COUNTERSIGNED: City Secretary (SEAL) 45077343.1 -11- C. Form of Registration Certificate of Comptroller of Public Accounts to appear on Initial Bond(s)only. REGISTRATION CERTIFICATE OF COMPTROLLER OF PUBLIC ACCOUNTS OFFICE OF THE COMPTROLLER ) OF PUBLIC ACCOUNTS ) REGISTER NO. ) THE STATE OF TEXAS ) I HEREBY CERTIFY that this Bond has been examined, certified as to validity and approved by the Attorney General of the State of Texas, and duly registered by the Comptroller of Public Accounts of the State of Texas. WITNESS my signature and seal of office this Comptroller of Public Accounts of the State of Texas (SEAL) *NOTE TO PRINTER: Do Not Print on Definitive Bonds D. Form of Certificate of Paying Agent/Registrar to appear on Definitive Bonds only. REGISTRATION CERTIFICATE OF PAYING AGENT/REGISTRAR This Bond has been duly issued and registered under the provisions of the within-mentioned Ordinance; the bond or bonds of the above entitled and designated series originally delivered having been approved by the Attorney General of the State of Texas and registered by the Comptroller of Public Accounts, as shown by the records of the Paying Agent/Registrar. The designated offices of the Paying Agent/Registrar in Dallas, Texas is the "Designated Payment/Transfer Office"for this Bond. THE CHASE MANHATTAN BANK, as Paying Agent/Registrar Registration date: By: Authorized Signature 45077343.1 -12- • E. Form of Assignment. ASSIGNMENT FOR VALUE RECEIVED the undersigned hereby sells, assigns, and transfers unto (Print or typewrite name, address, and zip code of transferee:) ------ — ----- -(Social Security or other identifying number:------------- ) the within Bond and all rights thereunder, and hereby irrevocably constitutes and appoints--------- _� _ __ ----------- atomey to transfer the within Bond on the books kept for registration thereof, with full power of substitution in the premises. DATED: NOTICE: The signature on this assignment must correspond with the Signature guaranteed: name of the registered owner as it appears on the face of the within Bond in every particular. The Initial Bond(s) shall be in the form set forth in paragraph B of this Section, except that the form of the single fully registered Initial Bond shall be modified as follows: (i) immediately under the name of the bond the headings "Interest Rate " and "Stated Maturity " shall both be omitted. (ii) Paragraph one shall read as follows: Registered Owner: Principal Amount: DOLLARS The City of Wylie (hereinafter referred to as the "City"), a body corporate and municipal corporation in the County of Collin, State of Texas, for value received, acknowledges itself indebted to and hereby promises to pay to the order of the Registered Owner named above, or the registered assigns thereof, the Principal Amount hereinabove stated on February 15 in each of the years and in principal installments in accordance with the following schedule: YEAR OF PRINCIPAL INTEREST MATURITY INSTALLMENTS RATE (Information to be inserted from schedule in Section 2 hereof). (or so much principal thereof as shall not have been prepaid prior to maturity) and to pay interest on the unpaid Principal Amount hereof from the Bond Date at the per annum rates of interest specified above computed on the basis of a 360-day year of twelve 30-day months; such interest being payable on February 15 and August 15 in each year, commencing February 15, 2002. Principal installments of this Bond are payable in the year of maturity or on a prepayment date to the registered owner hereof by The Chase Manhattan Bank (the "Paying Agent/Registrar"), upon its presentation and surrender, at its designated offices in Dallas, Texas (the "Designated Payment/Transfer Office"). Interest is payable to the registered owner of this Bond whose name appears on the "Security Register" maintained by the Paying Agent/Registrar 45077343.1 -13- at the close of business on the "Record Date", which is the last business day of the month next preceding each interest payment date, and interest shall be paid by the Paying Agent/Registrar by check sent United States Mail, first class postage prepaid, to the address of the registered owner recorded in the Security Register or by such other method, acceptable to the Paying Agent/Registrar, requested by, and at the risk and expense of, the registered owner. All payments of principal of, premium, if any, and interest on this Bond shall be without exchange or collection charges to the owner hereof and in any coin or currency of the United States of America which at the time of payment is legal tender for the payment of public and private debts. SECTION 10. Levy of Taxes. To provide for the payment of the "Debt Service Requirements" of the Bonds, being (i) the interest on the Bonds and (ii) a sinking fund for their redemption at maturity or a sinking fund of 2% (whichever amount is the greater), there is hereby levied, and there shall be annually assessed and collected in due time, form, and manner, a tax on all taxable property in the City, within the limitations prescribed by law, and such tax hereby levied on each one hundred dollars' valuation of taxable property in the City for the Debt Service Requirements of the Bonds shall be at a rate from year to year as will be ample and sufficient to provide funds each year to pay the principal of and interest on said Bonds while Outstanding; full allowance being made for delinquencies and costs of collection; separate books and records relating to the receipt and disbursement of taxes levied, assessed and collected for and on account of the Bonds shall be kept and maintained by the City at all times while the Bonds are Outstanding, and the taxes collected for the payment of the Debt Service Requirements on the Bonds shall be deposited to the credit of a "Special 2001 Bond Account" (the "Interest and Sinking Fund") maintained on the records of the City and deposited in a special fund maintained at an official depository of the City's funds; and such tax hereby levied, and to be assessed and collected annually, is hereby pledged to the payment of the Bonds. Proper officers of the City are hereby authorized and directed to cause to be transferred to the Paying Agent/ Registrar for the Bonds, from funds on deposit in the Interest and Sinking Fund, amounts sufficient to fully pay and discharge promptly each installment of interest and principal of the Bonds as the same accrues or matures or comes due by reason of redemption prior to maturity; such transfers of funds to be made in such manner as will cause collected funds to be deposited with the Paying Agent/Registrar on or before each principal and interest payment date for the Bonds. SECTION 11. Mutilated-Destroyed-Lost and Stolen Bonds. In case any Bond shall be mutilated, or destroyed, lost or stolen, the Paying Agent/Registrar may execute and deliver a replacement Bond of like form and tenor, and in the same denomination and bearing a number not contemporaneously outstanding, in exchange and substitution for such mutilated Bond, or in lieu of and in substitution for such destroyed, lost or stolen Bond, only upon the approval of the City and after (i) the filing by the Holder thereof with the Paying Agent/Registrar of evidence satisfactory to the Paying Agent/Registrar of the destruction, loss or theft of such Bond, and of the authenticity of the ownership thereof and (ii) the furnishing to the Paying Agent/Registrar of indemnification in an amount satisfactory to hold the City and the Paying Agent/Registrar harmless. All expenses and charges associated with such indemnity and with the preparation, execution and delivery of a replacement Bond shall be borne by the Holder of the Bond mutilated, or destroyed, lost or stolen. Every replacement Bond issued pursuant to this Section shall be a valid and binding obligation, and shall be entitled to all the benefits of this Ordinance equally and ratably with all 45077343.1 -14- other Outstanding Bonds; notwithstanding the enforceability of payment by anyone of the destroyed, lost, or stolen Bonds. The provisions of this Section are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement and payment of mutilated, destroyed, lost or stolen Bonds. SECTION 12. Satisfaction of Obligation of City. If the City shall pay or cause to be paid, or there shall otherwise be paid to the Holders, the principal of, premium, if any, and interest on the Bonds, at the times and in the manner stipulated in this Ordinance, then the pledge of taxes levied under this Ordinance and all covenants, agreements, and other obligations of the City to the Holders shall thereupon cease, terminate, and be discharged and satisfied. Bonds or any principal amount(s) thereof shall be deemed to have been paid within the meaning and with the effect expressed above in this Section when (i) money sufficient to pay in full such Bonds or the principal amount(s) thereof at maturity or to the redemption date therefor, together with all interest due thereon, shall have been irrevocably deposited with and held in trust by the Paying Agent/Registrar, or an authorized escrow agent, or (ii) Government Securities shall have been irrevocably deposited in trust with the Paying Agent/Registrar, or an authorized escrow agent, which Government Securities have been certified by an independent accounting firm to mature as to principal and interest in such amounts and at such times as will insure the availability, without reinvestment, of sufficient money, together with any moneys deposited therewith, if any, to pay when due the principal of and interest on such Bonds, or the principal amount(s) thereof, on and prior to the Stated Maturity thereof or (if notice of redemption has been duly given or waived or if irrevocable arrangements therefor acceptable to the Paying Agent/Registrar have been made) the redemption date thereof. The City covenants that no deposit of moneys or Government Securities will be made under this Section and no use made of any such deposit which would cause the Bonds to be treated as "arbitrage bonds" within the meaning of Section 148 of the Internal Revenue Code of 1986, as amended, or regulations adopted pursuant thereto. Any moneys so deposited with the Paying Agent/ Registrar, or an authorized escrow agent, and all income from Government Securities held in trust by the Paying Agent/Registrar, or an authorized escrow agent, pursuant to this Section which is not required for the payment of the Bonds, or any principal amount(s) thereof, or interest thereon with respect to which such moneys have been so deposited shall be remitted to the City or deposited as directed by the City. Furthermore, any money held by the Paying Agent/Registrar for the payment of the principal of and interest on the Bonds and remaining unclaimed for a period of three (3) years after the Stated Maturity, or applicable redemption date, of the Bonds such moneys were deposited and are held in trust to pay shall upon the request of the City be remitted to the City against a written receipt therefor. Notwithstanding the above and foregoing, any remittance of funds from the Paying Agent/Registrar to the City shall be subject to any applicable unclaimed property laws of the State of Texas. The term "Government Securities", as used herein, means (i) direct noncallable obligations of the United States of America, including obligations the principal of and interest on which are unconditionally guaranteed by the United States of America, (ii) noncallable obligations of an agency or instrumentality of the United States, including obligations unconditionally guaranteed or insured by the agency or instrumentality and on the date of their acquisition or purchase by the City are rated as to investment quality by a nationally recognized investment rating firm not less than AAA or its equivalent and (iii) noncallable obligations of a 45077343.1 -15- state or an agency or a county, municipality, or other political subdivision of a state that have been refunded and on the date of their acquisition or purchase by the City, are rated as to investment quality by a nationally recognized investment rating firm not less than AAA or its equivalent. SECTION 13. Ordinance a Contract- Amendments - Outstanding Bonds. This Ordinance shall constitute a contract with the Holders from time to time, be binding on the City, and shall not be amended or repealed by the City so long as any Bond remains Outstanding except as permitted in this Section. The City may, without the consent of or notice to any Holders, from time to time and at any time, amend this Ordinance in any manner not detrimental to the interests of the Holders, including the curing of any ambiguity, inconsistency, or formal defect or omission herein. In addition, the City may, with the consent of Holders holding a majority in aggregate principal amount of the Bonds then Outstanding affected thereby, amend, add to, or rescind any of the provisions of this Ordinance; provided that, without the consent of all Holders of Outstanding Bonds, no such amendment, addition, or rescission shall (1) extend the time or times of payment of the principal of, premium, if any, and interest on the Bonds, reduce the principal amount thereof, the redemption price therefor, or the rate of interest thereon, or in any other way modify the terms of payment of the principal of, premium, if any, or interest on the Bonds, (2) give any preference to any Bond over any other Bond, or (3) reduce the aggregate principal amount of Bonds required to be held by Holders for consent to any such amendment, addition, or rescission. The term "Outstanding" when used in this Ordinance with respect to Bonds means, as of the date of determination, all Bonds theretofore issued and delivered under this Ordinance, except: (1) those Bonds cancelled by the Paying Agent/Registrar or delivered to the Paying Agent/Registrar for cancellation; (2) those Bonds deemed to be duly paid by the City in accordance with the provisions of Section 12 hereof; and (3) those mutilated, destroyed, lost, or stolen Bonds which have been replaced with Bonds registered and delivered in lieu thereof as provided in Section 11 hereof. SECTION 14. Covenants to Maintain Tax-Exempt Status. (a) Definitions. When used in this Section 14, the following terms have the following meanings: "Closing Date" means the date on which the Bonds are first authenticated and delivered to the initial purchasers against payment therefor. "Code" means the Internal Revenue Code of 1986, as amended by all legislation, if any, effective on or before the Closing Date. "Computation Date"has the meaning set forth in Section 1.148-1(b) of the Regulations. "Gross Proceeds" means any proceeds as defined in Section 1.148-1(b) of the Regulations, and any replacement proceeds as defined in Section 1.148-1(c) of the Regulations, of the Bonds. "Investment"has the meaning set forth in Section 1.148-1(b) of the Regulations. 45077343.1 -16- "Nonpurpose Investment"means any investment property, as defined in section 148(b) of the Code, in which Gross Proceeds of the Bonds are invested and which is not acquired to carry out the governmental purposes of the Bonds. "Rebate Amount"has the meaning set forth in Section 1.148-1(b) of the Regulations. "Regulations"means any proposed, temporary, or final Income Tax Regulations issued pursuant to Sections 103 and 141 through 150 of the Code, and 103 of the Internal Revenue Code of 1954, which are applicable to the Bonds. Any reference to any specific Regulation shall also mean, as appropriate, any proposed, temporary or final Income Tax Regulation designed to supplement, amend or replace the specific Regulation referenced. "Yield" of (1) any Investment has the meaning set forth in Section 1.148-5 of the Regulations and (2) the Bonds has the meaning set forth in Section 1.148-4 of the Regulations. (b) Not to Cause Interest to Become Taxable. The City shall not use, permit the use of, or omit to use Gross Proceeds or any other amounts (or any property the acquisition, construction or improvement of which is to be financed directly or indirectly with Gross Proceeds) in a manner which if made or omitted, respectively, would cause the interest on any Bond to become includable in the gross income, as defined in section 61 of the Code, of the owner thereof for federal income tax purposes. Without limiting the generality of the foregoing, unless and until the City receives a written opinion of counsel nationally recognized in the field of municipal bond law to the effect that failure to comply with such covenant will not adversely affect the exemption from federal income tax of the interest on any Bond, the City shall comply with each of the specific covenants in this Section. (c) No Private Use or Private Payments. Except as permitted by section 141 of the Code and the Regulations and rulings thereunder, the City shall at all times prior to the last Stated Maturity of Bonds: (1) exclusively own, operate and possess all property the acquisition, construction or improvement of which is to be financed or refinanced directly or indirectly with Gross Proceeds of the Bonds, and not use or permit the use of such Gross Proceeds (including all contractual arrangements with terms different than those applicable to the general public) or any property acquired, constructed or improved with such Gross Proceeds in any activity carried on by any person or entity (including the United States or any agency, department and instrumentality thereof) other than a state or local government,unless such use is solely as a member of the general public; and (2) not directly or indirectly impose or accept any charge or other payment by any person or entity who is treated as using Gross Proceeds of the Bonds or any property the acquisition, construction or improvement of which is to be financed or refinanced directly or indirectly with such Gross Proceeds, other than taxes of general application within the City or interest earned on investments acquired with such Gross Proceeds pending application for their intended purposes. (d) No Private Loan. Except to the extent permitted by section 141 of the Code and the Regulations and rulings thereunder, the City shall not use Gross Proceeds of the Bonds to make or finance loans to any person or entity other than a state or local government. For 45077343.1 -17- • purposes of the foregoing covenant, such Gross Proceeds are considered to be "loaned" to a person or entity if: (1) property acquired, constructed or improved with such Gross Proceeds is sold or leased to such person or entity in a transaction which creates a debt for federal income tax purposes; (2) capacity in or service from such property is committed to such person or entity under a take-or-pay, output or similar contract or arrangement; or (3) indirect benefits, or burdens and benefits of ownership, of such Gross Proceeds or any property acquired, constructed or improved with such Gross Proceeds are otherwise transferred in a transaction which is the economic equivalent of a loan. (e) Not to Invest at Higher Yield. Except to the extent permitted by section 148 of the Code and the Regulations and rulings thereunder, the City shall not at any time prior to the final Stated Maturity of the Bonds directly or indirectly invest Gross Proceeds in any Investment (or use Gross Proceeds to replace money so invested), if as a result of such investment the Yield from the Closing Date of all Investments acquired with Gross Proceeds (or with money replaced thereby), whether then held or previously disposed of, exceeds the Yield of the Bonds. (f) Not Federally Guaranteed. Except to the extent permitted by section 149(b) of the Code and the Regulations and rulings thereunder, the City shall not take or omit to take any action which would cause the Bonds to be federally guaranteed within the meaning of section 149(b) of the Code and the Regulations and rulings thereunder. (g) Information Report. The City shall timely file the information required by section 149(e) of the Code with the Secretary of the Treasury on Form 8038-G or such other form and in such place as the Secretary may prescribe. (h) No Rebate Required. The City warrants and represents that it satisfies the requirements of paragraph (2) and (3) of section 148(f) of the code with respect to the Certificates without making the payments for the United States described in such section. Specifically, the City warrants and represents that: (1) the City is a governmental unit with general taxing powers; (2) at least 95% of the net proceeds of the Bonds will be used for the local governmental activities of the City; (3) the aggregate face amount of all tax-exempt obligations issued or expected to be issued by the City (and all subordinate entities thereof) in the calendar year in which the Bonds are issued is not reasonably expected to exceed $5,000,000. Provided, however, should additional tax exempt obligations be issued or incurred, including lease purchase financings, in the 2001 calendar year which would cause the total face amount of tax exempt obligations issued and incurred in such calendar year to exceed $5,000,000, the City agrees and covenants that it will maintain complete records regarding the investments of the proceeds of sale of the Bonds and rebate any"arbitrage profits" to the United States as required by Section 148(f) of the Code. (i) Elections. The City hereby directs and authorizes the City Manager and Director of Finance, individually or jointly, to make elections permitted or required pursuant to the provisions of the Code or the Regulations, as they deem necessary or appropriate in connection 45077343.1 -18- with the Bonds, in the Certificate as to Tax Exemption or similar or other appropriate certificate, form or document. (j) Qualified Tax Exempt Obligations. In accordance with the provisions of paragraph (3) of subsection (b) of Section 265 of the Code, the City hereby designates the Bonds to be "qualified tax exempt obligations" in that the Bonds are not "private activity bonds" as defined in the Code and the reasonably anticipated amount of "qualified tax exempt obligations" to be issued by the City (including all subordinate entities of the City) for the calendar year in which the Bonds are issued will not exceed $10,000,000. SECTION 15. Sale of Bonds. Pursuant to a public sale for the Bonds, the bid submitted by (herein referred to as the "Purchasers") is declared to be the best bid received producing the lowest true interest cost rate to the City; such bid is hereby accepted and incorporated herein by reference as a part of this Ordinance for all purposes and the sale of the Bonds to said Purchasers at the price of par and accrued interest to the date of delivery, plus a premium of $ , is hereby approved and confirmed. Delivery of the Bonds to the Purchasers shall occur as soon as possible upon payment being made therefor in accordance with the terms of sale. SECTION 16. Official Statement. The use of the Preliminary Official Statement, dated August 31, 2001, in the offering and sale of the Bonds is hereby ratified, confirmed and approved in all respects, and the City Council hereby finds that the information and data contained in said Preliminary Official Statement pertaining to the City and its financial affairs is true and correct in all material respects and no material facts have been omitted therefrom which are necessary to make the statements therein, in light of the circumstances under which they were made, not misleading. The final Official Statement, which reflects the terms of sale (together with such changes approved by the Mayor, City Secretary, City Manager of Director of Finance, one or more of said officials), shall be and is hereby in all respects approved and the Purchasers are hereby authorized to use and distribute said final Official Statement, dated September® 2001, in the reoffering, sale and delivery of the Bonds to the public. SECTION 17. Control and Custody of Bonds. The Mayor of the City shall be and is hereby authorized to take and have charge of all necessary orders and records pending investigation by the Attorney General of the State of Texas, including the printing and supply of definitive Bonds, and shall take and have charge and control of the Initial Bond(s) pending the approval thereof by the Attorney General, the registration thereof by the Comptroller of Public Accounts and the delivery thereof to the initial purchasers. Furthermore, the Mayor, Mayor Pro Tern, City Secretary, City Manager and Director of Finance, any one or more of said officials, are hereby authorized and directed to furnish and execute such documents and certifications relating to the City and the issuance of the Bonds, including certifications as to facts, estimates, circumstances and reasonable expectations pertaining to the use, expenditure, and investment of the proceeds of the Bonds, as may be necessary for the approval of the Attorney General, the registration by the Comptroller of Public Accounts and the delivery of the Bonds to the purchasers, and, together with the City's financial advisor, bond counsel and the Paying Agent/Registrar, make the necessary arrangements for the delivery of the Initial Bond(s) to the purchasers and the initial exchange thereof for definitive Bonds. SECTION 18. Proceeds of Sale. The proceeds of sale of the Bonds, excluding the accrued interest and premium, if any, received from the purchasers, shall be deposited in a 45077343.1 -19- construction fund maintained at the City's depository bank. Pending expenditure for authorized projects and purposes, such proceeds of sale may be invested in authorized investments in accordance with the provisions of V.T.C.A., Government Code, Chapter 2256, including guaranteed investment contracts permitted by V.T.C.A., Section 2256.015 et seq., and the City's investment policies and guidelines,. and any investment earnings realized shall be expended for such authorized projects and purposes or deposited in the Interest and Sinking Fund as shall be determined by the City Council. Accrued interest and premium, if any, received from the Purchasers as well as surplus proceeds of sale of the Bonds, including investment earnings, remaining after completion of all authorized projects or purposes shall be deposited to the credit of the Interest and Sinking Fund. SECTION 19. Notices to Holders-Waiver. Wherever this Ordinance provides for notice to Holders of any event, such notice shall be sufficiently given (unless otherwise herein expressly provided) if in writing and sent by United States Mail, first class postage prepaid, to the address of each Holder appearing in the Security Register at the close of business on the business day next preceding the mailing of such notice. In any case where notice to Holders is given by mail, neither the failure to mail such notice to any particular Holders, nor any defect in any notice so mailed, shall affect the sufficiency of such notice with respect to all other Bonds. Where this Ordinance provides for notice in any manner, such notice may be waived in writing by the Holder entitled to receive such notice, either before or after the event with respect to which such notice is given, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Paying Agent/Registrar, but such filing shall not be a condition precedent to the validity of any action taken in reliance upon such waiver. SECTION 20. Cancellation. All Bonds surrendered for payment, redemption, transfer, exchange, or replacement, if surrendered to the Paying Agent/Registrar, shall be promptly cancelled by it and, if surrendered to the City, shall be delivered to the Paying Agent/Registrar and, if not already cancelled, shall be promptly cancelled by the Paying Agent/Registrar. The City may at any time deliver to the Paying Agent/Registrar for cancellation any Bonds previously certified or registered and delivered which the City may have acquired in any manner whatsoever, and all Bonds so delivered shall be promptly cancelled by the Paying Agent/Registrar. All cancelled Bonds held by the Paying Agent/Registrar shall be returned to the City. SECTION 21. Legal Opinion. The obligation of the Purchasers to accept delivery of the Bonds is subject to being furnished a final opinion of Fulbright & Jaworski L.L.P., Attorneys, Dallas, Texas, approving such Bonds as to their validity, said opinion to be dated and delivered as of the date of delivery and payment for such Bonds. A true and correct reproduction of said opinion is hereby authorized to be printed on the definitive Bonds or an executed counterpart thereof shall accompany the global Bonds deposited with the Depository Trust Company. SECTION 22. CUSIP Numbers. CUSIP numbers may be printed or typed on the definitive Bonds. It is expressly provided, however, that the presence or absence of CUSIP numbers on the definitive Bonds shall be of no significance or effect as regards the legality thereof and neither the City nor attorneys approving the Bonds as to legality are to be held responsible for CUSIP numbers incorrectly printed or typed on the definitive Bonds. SECTION 23. Benefits of Ordinance. Nothing in this Ordinance, expressed or implied, is intended or shall be construed to confer upon any person other than the City, the Paying 45077343.1 -20- Agent/Registrar and the Holders, any right, remedy, or claim, legal or equitable, under or by reason of this Ordinance or any provision hereof, this Ordinance and all its provisions being intended to be and being for the sole and exclusive benefit of the City, the Paying Agent/Registrar and the Holders. SECTION 24. Inconsistent Provisions. All ordinances, orders or resolutions, or parts thereof, which are in conflict or inconsistent with any provision of this Ordinance are hereby repealed to the extent of such conflict, and the provisions of this Ordinance shall be and remain controlling as to the matters contained herein. SECTION 25. Governing Law. This Ordinance shall be construed and enforced in accordance with the laws of the State of Texas and the United States of America. SECTION 26. Effect of Headings. The Section headings herein are for convenience only and shall not affect the construction hereof. SECTION 27. Construction of Terms. If appropriate in the context of this Ordinance, words of the singular number shall be considered to include the plural, words of the plural number shall be considered to include the singular, and words of the masculine, feminine or neuter gender shall be considered to include the other genders. SECTION 28. Severability. If any provision of this Ordinance or the application thereof to any circumstance shall be held to be invalid, the remainder of this Ordinance and the application thereof to other circumstances shall nevertheless be valid, and the City Council hereby declares that this Ordinance would have been enacted without such invalid provision. SECTION 29. Continuing Disclosure Undertaking. (a) Definitions. As used in this Section, the following terms have the meanings ascribed to such terms below: "MSRB" means the Municipal Securities Rulemaking Board. "NRMSIR' means each person whom the SEC or its staff has determined to be a nationally recognized municipal securities information repository within the meaning of the Rule from time to time. "Rule" means SEC Rule 15c2-12, as amended from time to time. "SEC" means the United States Securities and Exchange Commission. "SID" means any.person designated by the State of Texas or an authorized department, officer, or agency thereof as, and determined by the SEC or its staff to be, a state information depository within the meaning of the Rule from time to time. (b) Annual Reports. The City shall provide annually to each NRMSIR and any SID, within six months after the end of each fiscal year (beginning with the fiscal year ending September 30, 2001) financial information and operating data with respect to the City of the general type included in the final Official Statement approved by Section 16 of this Ordinance, being the information described in Exhibit B hereto. Financial statements to be provided shall be (1) prepared in accordance with the accounting principles described in Exhibit B hereto and (2) audited, if the City commissions an audit of such statements and the audit is completed within the period during which they must be provided. If audited financial statements are not 45077343.1 -21- available at the time the financial information and operating data must be provided, then the City shall provide unaudited financial statements for the applicable fiscal year to each NRMSIR and any SID with the financial information and operating data and will file the annual audit report when and if the same becomes available. If the City changes its fiscal year, it will notify each NRMSIR and any SID of the change (and of the date of the new fiscal year end) prior to the next date by which the City otherwise would be required to provide financial information and operating data pursuant to this Section. The financial information and operating data to be provided pursuant to this Section may be set forth in full in one or more documents or may be included by specific reference to any document (including an official statement or other offering document, if it is available from the MSRB) that theretofore has been provided to each NRMSIR and any SID or filed with the SEC. (c) Material Event Notices. The City shall notify any SID and either each NRMSIR or the MSRB, in a timely manner, of any of the following events with respect to the Bonds, if such event is material within the meaning of the federal securities laws: 1. Principal and interest payment delinquencies; 2. Non-payment related defaults; 3. Unscheduled draws on debt service reserves reflecting financial difficulties; 4. Unscheduled draws on credit enhancements reflecting financial difficulties; 5. Substitution of credit or liquidity providers, or their failure to perform; 6. Adverse tax opinions or events affecting the tax-exempt status of the Bonds; 7. Modifications to rights of holders of the Bonds; 8. Bond calls; 9. Defeasances; 10. Release, substitution, or sale of property securing repayment of the Bonds; and 11. Rating changes. The City shall notify any SID and either each NRMSIR or the MSRB, in a timely manner, of any failure by the City to provide financial information or operating data in accordance with subsection (b) of this Section by the time required by such Section. (d) Limitations, Disclaimers, and Amendments. The City shall be obligated to observe and perform the covenants specified in this Section while, but only while, the City remains an "obligated person" with respect to the Bonds within the meaning of the Rule, except that the City in any event will give the notice required by subsection (c) hereof of any Bond calls and defeasance that cause the City to be no longer such an"obligated person." The provisions of this Section are for the sole benefit of the Holders and beneficial owners of the Bonds, and nothing in this Section, express or implied, shall give any benefit or any legal or equitable right, remedy, or claim hereunder to any other person. The City undertakes to provide only the financial information, operating data, financial statements, and notices which it has expressly agreed to provide pursuant to this Section and does not hereby undertake to provide any other information that may be relevant or material to a complete presentation of the City's financial results, condition, or prospects or hereby undertake to update 45077343.1 -22- any information provided in accordance with this Section or otherwise, except as expressly provided herein. The City does not make any representation or warranty concerning such information or its usefulness to a decision to invest in or sell Bonds at any future date. UNDER NO CIRCUMSTANCES SHALL THE CITY BE LIABLE TO THE HOLDER OR BENEFICIAL OWNER OF ANY BOND OR ANY OTHER PERSON, IN CONTRACT OR TORT, FOR DAMAGES RESULTING IN WHOLE OR IN PART FROM ANY BREACH BY THE CITY, WHETHER NEGLIGENT OR WITHOUT FAULT ON ITS PART, OF ANY COVENANT SPECIFIED IN THIS SECTION, BUT EVERY RIGHT AND REMEDY OF ANY SUCH PERSON, IN CONTRACT OR TORT, FOR OR ON ACCOUNT OF ANY SUCH BREACH SHALL BE LIMITED TO AN ACTION FOR MANDAMUS OR SPECIFIC PERFORMANCE. No default by the City in observing or performing its obligations under this Section shall constitute a breach of or default under this Ordinance for purposes of any other provision of this Ordinance. Nothing in this Section is intended or shall act to disclaim, waive, or otherwise limit the duties of the City under federal and state securities laws. The provisions of this Section may be amended by the City from time to time to adapt to changed circumstances resulting from a change in legal requirements, a change in law, or a change in the identity, nature, status, or type of operations of the City, but only if (1) the provisions of this Section, as so amended, would have permitted an underwriter to purchase or sell Bonds in the primary offering of the Bonds in compliance with the Rule, taking into account any amendments or interpretations of the Rule to the date of such amendment, as well as such changed circumstances, and (2) either (a) the Holders of a majority in aggregate principal amount (or any greater amount required by any other provision of this Ordinance that authorizes such an amendment) of the Outstanding Bonds consent to such amendment or (b) a Person that is unaffiliated with the City (such as nationally recognized bond counsel) determines that such amendment will not materially impair the interests of the Holders and beneficial owners of the Bonds. The provisions of this Section may also be amended from time to time or repealed by the City if the SEC amends or repeals the applicable provisions of the Rule or a court of final jurisdiction determines that such provisions are invalid, but only if and to the extent that reservation of the City's right to do so would not prevent underwriters of the initial public offering of the Bonds from lawfully purchasing or selling Bonds in such offering. If the City so amends the provisions of this Section, it shall include with any amended financial information or operating data filed with each NRMSIR and SID pursuant to subsection (b) of this Section an explanation, in narrative form, of the reasons for the amendment and of the impact of any change in the type of financial information or operating data so provided. SECTION 30. Public Meeting. It is officially found, determined, and declared that the meeting at which this Ordinance is adopted was open to the public and public notice of the time, place,and subject matter of the public business to be considered at such meeting, including this Ordinance, was given, all as required by V.T.C.A., Government Code, Chapter 551, as amended. 45077343.1 -23- SECTION 31. Effective Date. This Ordinance shall be in force and effect from and after its passage on the date shown below and it is so ordained. PASSED AND ADOPTED, this Septembe112001. CITY OF WYLIE, TEXAS Mayor ATTEST: City Secretary (City Seal) 45077343.1 -24- EXHIBIT A PAYING AGENT/REGISTRAR AGREEMENT THIS AGREEMENT entered into as of September' 2001 (this "Agreement"), by and between the City of Wylie, Texas (the "Issuer"), and The Chase Manhattan Bank, a New York banking corporation organized and existing under the laws of the State of New York and authorized to do business in the State of Texas, RECITALS WHEREAS, the Issuer has duly authorized and provided for the execution and delivery of its "City of Wylie, Texas, General Obligation Bonds, Series 2001" (the "Securities"), dated September 1, 2001, such Securities scheduled to be delivered to the initial purchasers thereof on or about October 16, 2001; and WHEREAS, the Issuer has selected the Bank to serve as Paying Agent/Registrar in connection with the payment of the principal of, premium, if any, and interest on said Securities and with respect to the registration, transfer and exchange thereof by the registered owners thereof; and WHEREAS, the Bank has agreed to serve in such capacities for and on behalf of the Issuer and has full power and authority to perform and serve as Paying Agent/Registrar for the Securities; NOW, THEREFORE, it is mutually agreed as follows: ARTICLE ONE APPOINTMENT OF BANK AS PAYING AGENT AND REGISTRAR Section 1.01 Appointment. The Issuer hereby appoints the Bank to serve as Paying Agent with respect to the Securities, and, as Paying Agent for the Securities, the Bank shall be responsible for paying on behalf of the Issuer the principal, premium (if any), and interest on the Securities as the same become due and payable to the registered owners thereof; all in accordance with this Agreement and the "Bond Resolution" (hereinafter defined). The Issuer hereby appoints the Bank as Registrar with respect to the Securities and, as Registrar for the Securities, the Bank shall keep and maintain for and on behalf of the Issuer books and records as to the ownership of said Securities and with respect to the transfer and exchange thereof as provided herein and in the "Bond Resolution". The Bank hereby accepts its appointment, and agrees to serve as the Paying Agent and Registrar for the Securities. Section 1.02 Compensation. As compensation for the Bank's services as Paying Agent/Registrar, the Issuer hereby agrees to pay the Bank the fees and amounts set forth in Annex A attached hereto for the first year of this Agreement and thereafter the fees and amounts set forth in the Bank's current fee schedule then in effect for services as Paying Agent/Registrar for municipalities, which shall be supplied to the Issuer on or before 90 days prior to the close of the Fiscal Year of the Issuer, and shall be effective upon the first day of the following Fiscal Year. 45077476.1 In addition, the Issuer agrees to reimburse the Bank upon its request for all reasonable expenses, disbursements and advances incurred or made by the Bank in accordance with any of the provisions hereof (including the reasonable compensation and the expenses and disbursements of its agents and counsel). ARTICLE TWO DEFINITIONS Section 2.01 Definitions. For all purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires: "Acceleration Date" on any Security means the date on and after which the principal or any or all installments of interest, or both, are due and payable on any Security which has become accelerated pursuant to the terms of the Security. "Bank Office" means the designated office of the Bank in Dallas, Texas at the address shown in Section 3.01 hereof. The Bank will notify the Issuer in writing of any change in location of the Bank Office. "Bond Resolution" means the resolution, order, or ordinance of the governing body of the Issuer pursuant to which the Securities are issued, certified by the Secretary or any other officer of the Issuer and delivered to the Bank. "Fiscal Year" means the fiscal year of the Issuer, ending September 30th. "Holder" and "Security Holder" each means the Person in whose name a Security is registered in the Security Register. "Issuer Request" and "Issuer Order" means a written request or order signed in the name of the Issuer by the Mayor, City Secretary, City Manager, Assistant City Manager, or Director of Finance, any one or more of said officials, and delivered to the Bank. "Legal Holiday" means a day on which the Bank is required or authorized to be closed. "Person" means any individual, corporation, partnership, joint venture, association, joint stock company, trust, unincorporated organization or government or any agency or political subdivision of a government. "Predecessor Securities" of any particular Security means every previous Security evidencing all or a portion of the same obligation as that evidenced by such particular Security (and, for the purposes of this definition, any mutilated, lost, destroyed, or stolen Security for which a replacement Security has been registered and delivered in lieu thereof pursuant to Section 4.06 hereof and the Resolution). 45077476.1 _2_ EXHIBIT A "Redemption Date" when used with respect to •any Security to be redeemed means the date fixed for such redemption pursuant to the terms of the Bond Resolution. "Responsible Officer" when used with respect to the Bank means the Chairman or Vice-Chairman of the Board of Directors, the Chairman or Vice-Chairman of the Executive Committee of the Board of Directors, the President, any Vice President, the Secretary, any Assistant Secretary, the Treasurer, any Assistant Treasurer, the Cashier, any Assistant Cashier, any Trust Officer or Assistant Trust Officer, or any other officer of the Bank customarily performing functions similar to those performed by any of the above designated officers and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of his knowledge of and familiarity with the particular subject. "Security Register" means a register maintained by the Bank on behalf of the Issuer providing for the registration and transfers of Securities. "Stated Maturity" means the date specified in the Bond Resolution the principal of a Security is scheduled to be due and payable. Section 2.02 Other Definitions. The terms "Bank," "Issuer," and "Securities (Security)" have the meanings assigned to them in the recital paragraphs of this Agreement. The term "Paying Agent/Registrar" refers to the Bank in the performance of the duties and functions of this Agreement. ARTICLE THREE PAYING AGENT Section 3.01 Duties of Paying Agent As Paying Agent, the Bank shall, provided adequate collected funds have been provided to it for such purpose by or on behalf of the Issuer, pay on behalf of the Issuer the principal of each Security at its Stated Maturity, Redemption Date, or Acceleration Date, to the Holder upon surrender of the Security to the Bank at the following address: P. O. Box 2320, Dallas, Texas 75221-2320 or 2001 Bryan Street, 9th Floor, Dallas, Texas 75201, Attention: Operations. As Paying Agent, the Bank shall, provided adequate collected funds have been provided to it for such purpose by or on behalf of the Issuer, pay on behalf of the Issuer the interest on each Security when due, by computing the amount of interest to be paid each Holder and making payment thereof to the Holders of the Securities (or their Predecessor Securities) on the Record Date. All payments of principal and/or interest on the Securities to the registered owners shall be accomplished (1) by the issuance of checks, payable to the registered owners, drawn on the paying agent account provided in Section 5.05 hereof, sent by United States mail, first class, postage prepaid, to the address appearing on the Security Register or (2) by such other method, acceptable to the Bank, requested in writing by the Holder at the Holder's risk and expense. Section 3.02 Payment Dates. The Issuer hereby instructs the Bank to pay the principal of and interest on the Securities at the dates specified in the Bond Resolution. 45077476.1 -3- EXHIBIT A ARTICLE FOUR • REGISTRAR Section 4.01 Security Register-Transfers and Exchanges. The Bank agrees to keep and maintain for and on behalf of the Issuer at the Bank Office books and records (herein sometimes referred to as the "Security Register")for recording the names and addresses of the Holders of the Securities, the transfer, exchange and replacement of the Securities and the payment of the principal of and interest on the Securities to the Holders and containing such other information as may be reasonably required by the Issuer and subject to such reasonable regulations as the Issuer and Bank may prescribe. All transfers, exchanges and replacement of Securities shall be noted in the Security Register. Every Security surrendered for transfer or exchange shall be duly endorsed or be accompanied by a written instrument of transfer, the signature on which has been guaranteed by an officer of a federal or state bank or a member of the National Association of Securities Dealers, in form satisfactory to the Bank, duly executed by the Holder thereof or his agent duly authorized in writing. The Bank may request any supporting documentation it feels necessary to effect a re-registration, transfer or exchange of the Securities. To the extent possible and under reasonable circumstances, the Bank agrees that, in relation to an exchange or transfer of Securities, the exchange or transfer by the Holders thereof will be completed and new Securities delivered to the Holder or the assignee of the Holder in not more than three (3) business days after the receipt of the Securities to be cancelled in an exchange or transfer and the written instrument of transfer or request for exchange duly executed by the Holder, or his duly authorized agent, in form and manner satisfactory to the Paying Agent/Registrar. Section 4.02 Certificates. The Issuer shall provide an adequate inventory of printed Securities to facilitate transfers or exchanges thereof. The Bank covenants that the inventory of printed Securities will be kept in safekeeping pending their use and reasonable care will be exercised by the Bank in maintaining such Securities in safekeeping, which shall be not less than the care maintained by the Bank for debt securities of other governments or corporations for which it serves as registrar, or that is maintained for its own securities. Section 4.03 Form of Security Register. The Bank, as Registrar, will maintain the Security Register relating to the registration, payment, transfer and exchange of the Securities in accordance with the Bank's general practices and procedures in effect from time to time. The Bank shall not be obligated to maintain such Security Register in any form other than those which the Bank has currently available and currently utilizes at the time. The Security Register may be maintained in written form or in any other form capable of being converted into written form within a reasonable time. Section 4.04 List of Security Holders. The Bank will provide the Issuer at any time requested by the Issuer, upon payment of the required fee, a copy of the information contained in the Security Register. The Issuer may also inspect the information contained in the Security Register at any time the Bank is customarily open for business, provided that reasonable time is allowed the Bank to provide an up-to-date listing or to convert the information into written form. 45077476.1 -4_ EXHIBIT A The Bank will not release or disclose the contents of the Security Register to any person other than to, or at the written request of, an authorized officer or employee of the Issuer, except upon receipt of a court order or as otherwise required by law. Upon receipt of a court order and prior to the release or disclosure of the contents of the Security Register, the Bank will notify the Issuer so that the Issuer may contest the court order or such release or disclosure of the contents of the Security Register. Section 4.05 Return of Cancelled Certificates. The Bank will, at such reasonable intervals as it determines, surrender to the Issuer, Securities in lieu of which or in exchange for which other Securities have been issued, or which have been paid. Section 4.06 Mutilated, Destroyed, Lost or Stolen Securities. The Issuer hereby instructs the Bank, subject to the provisions of Section 11 of the Bond Resolution, to deliver and issue Securities in exchange for or in lieu of mutilated, destroyed, lost, or stolen Securities as long as the same does not result in an overissuance. In case any Security shall be mutilated, or destroyed, lost or stolen, the Bank may execute and deliver a replacement Security of like form and tenor, and in the same denomination and bearing a number not contemporaneously outstanding, in exchange and substitution for such mutilated Security, or in lieu of and in substitution for such destroyed lost or stolen Security, only upon the approval of the Issuer and after (i) the filing by the Holder thereof with the Bank of evidence satisfactory to the Bank of the destruction, loss or theft of such Security, and of the authenticity of the ownership thereof and (ii) the furnishing to the Bank of indemnification in an amount satisfactory to hold the Issuer and the Bank harmless. All expenses and charges associated with such indemnity and with the preparation, execution and delivery of a replacement Security shall be borne by the Holder of the Security mutilated, or destroyed, lost or stolen. Section 4.07 Transaction Information to Issuer. The Bank will, within a reasonable time after receipt of written request from the Issuer, furnish the Issuer information as to the Securities it has paid pursuant to Section 3.01, Securities it has delivered upon the transfer or exchange of any Securities pursuant to Section 4.01, and Securities it has delivered in exchange for or in lieu of mutilated, destroyed, lost, or stolen Securities pursuant to Section 4.06. ARTICLE FIVE THE BANK • Section 5.01 Duties of Bank. The Bank undertakes to perform the duties set forth herein and agrees to use reasonable care in the performance thereof. Section 5.02 Reliance on Documents, Etc.(a) The Bank may conclusively rely, as to the truth of the statements and correctness of the opinions expressed therein, on certificates or opinions furnished to the Bank. (b) The Bank shall not be liable for any error of judgment made in good faith by a Responsible Officer, unless it shall be proved that the Bank was negligent in ascertaining the pertinent facts. (c) No provisions of this Agreement shall require the Bank to expend or risk its own funds or otherwise incur any financial liability for performance of any of its duties hereunder, or 45077476.1 _55_ EXHIBIT A in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity satisfactory to it against such risks or liability is not assured to it. (d) The Bank may rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, note, security, or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties. Without limiting the generality of the foregoing statement, the Bank need not examine the ownership of any Securities, but is protected in acting upon receipt of Securities containing an endorsement or instruction of transfer or power of transfer which appears on its face to be signed by the Holder or an agent of the Holder. The Bank shall not be bound to make any investigation into the facts or matters stated in a resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, note, security, or other paper or document supplied by Issuer. (e) The Bank may consult with counsel, and the written advice of such counsel or any opinion of counsel shall be full and complete authorization and protection with respect to any action taken, suffered, or omitted by it hereunder in good faith and in reliance thereon. (f) The Bank may exercise any of the powers hereunder and perform any duties hereunder either directly or by or through agents or attorneys of the Bank. Section 5.03 Recitals of Issuer. The recitals contained herein with respect to the Issuer and in the Securities shall be taken as the statements of the Issuer, and the Bank assumes no responsibility for their correctness. The Bank shall in no event be liable to the Issuer, any Holder or Holders of any Security, or any other Person for any amount due on any Security from its own funds. Section 5.04 May Hold Securities. The Bank, in its individual or any other capacity, may become the owner or pledgee of Securities and may otherwise deal with the Issuer with the same rights it would have if it were not the Paying Agent/Registrar, or any other agent. Section 5.05 Moneys Held by Bank- Paying Agent Account/Collateralization. Money deposited by the Issuer with the Bank of the principal (or Redemption Price, if applicable) of or interest on any Securities shall be segregated from other funds of the Bank and the Issuer and shall be held in trust for the benefit of the Holders of such Securities. All money deposited with the Bank hereunder shall be secured in the manner and to the fullest extent required by law for the security of funds of the Issuer. Amounts held by the Bank which represent principal of and interest on the Securities remaining unclaimed by the owner after the expiration of three years from the date such amounts have become due and payable shall be reported and disposed of by the Bank in accordance with the provisions of Texas law including, to the extent applicable, Title 6 of the Texas Property Code, as amended. The Bank shall have no liability by virtue of actions taken in compliance with this provision. The Bank is not obligated to pay interest on any money received by it hereunder. 45077476.1 -6- EXHIBIT A This Agreement relates solely to money deposited for the purposes described herein, and the parties agree that the Bank may serve as depository for other funds of the Issuer, act as trustee under indentures authorizing other bond transactions of the Issuer, or act in any other capacity not in conflict with its duties hereunder. Section 5.06 Indemnification. To the extent permitted by law, the Issuer agrees to indemnify the Bank for, and hold it harmless against, any loss, liability, or expense incurred without negligence or bad faith on its part, arising out of or in connection with its acceptance or administration of its duties hereunder, including the cost and expense against any claim or liability in connection with the exercise or performance of any of its powers or duties under this Agreement. Section 5.07 Interpleader. The Issuer and the Bank agree that the Bank may seek adjudication of any adverse claim, demand, or controversy over its person as well as funds on deposit, in either a Federal or State District Court located in the State and County where either the Bank Office or the administrative offices of the Issuer is located, and agree that service of process by certified or registered mail, return receipt requested, to the address referred to in Section 6.03 of this Agreement shall constitute adequate service. The Issuer and the Bank further agree that the Bank has the right to file a Bill of Interpleader in any court of competent jurisdiction to determine the rights of any Person claiming any interest herein. Section 5.08 DT Services. It is hereby represented and warranted that, in the event the Securities are otherwise qualified and accepted for "Depository Trust Company" services or equivalent depository trust services by other organizations, the Bank has the capability and, to the extent within its control, will comply with the "Operational Arrangements", which establishes requirements for securities to be eligible for such type depository trust services, including, but not limited to, requirements for the timeliness of payments and funds availability, transfer turnaround time, and notification of redemptions and calls. ARTICLE SIX MISCELLANEOUS PROVISIONS Section 6.01 Amendment. This Agreement may be amended only by an agreement in writing signed by both of the parties hereto. Section 6.02 Assignment. This Agreement may not be assigned by either party without the prior written consent of the other. Section 6.03 Notices. Any request, demand, authorization, direction, notice, consent, waiver, or other document provided or permitted hereby to be given or furnished to the Issuer or the Bank shall be mailed or delivered to the Issuer or the Bank, respectively, at the addresses shown on page 9. Section 6.04 Effect of Headings. The Article and Section headings herein are for convenience only and shall not affect the construction hereof. Section 6.05 Successors and Assigns. All covenants and agreements herein by the Issuer shall bind its successors and assigns, whether so expressed or not. 45077476.1 _7_ EXHIBIT A Section 6.06 Severability. In case any provision herein shall be invalid, illegal, or unenforceable, the validity, legality, and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. Section 6.07 Benefits of Agreement Nothing herein, express or implied, shall give to any Person, other than the parties hereto and their successors hereunder, any benefit or any legal or equitable right, remedy, or claim hereunder. Section 6.08 Entire Agreement. This Agreement and the Bond Resolution constitute the entire agreement between the parties hereto relative to the Bank acting as Paying Agent/Registrar and if any conflict exists between this Agreement and the Bond Resolution, the Bond Resolution shall govern. Section 6.09 Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original and all of which shall constitute one and the same Agreement. Section 6.10 Termination. This Agreement will terminate (i) on the date of final payment of the principal of and interest on the Securities to the Holders thereof or (ii) may be earlier terminated by either party upon sixty (60) days written notice; provided, however, an early termination of this Agreement by either party shall not be effective until (a) a successor Paying Agent/Registrar has been appointed by the Issuer and such appointment accepted and (b) notice given to the Holders of the Securities of the appointment of a successor Paying Agent/Registrar. Furthermore, the Bank and Issuer mutually agree that the effective date of an early termination of this Agreement shall not occur at any time which would disrupt, delay or otherwise adversely affect the payment of the Securities. Upon an early termination of this Agreement, the Bank agrees to promptly transfer and deliver the Security Register (or a copy thereof), together with other pertinent books and records relating to the Securities, to the successor Paying Agent/Registrar designated and appointed by the Issuer. The provisions of Section 1.02 and of Article Five shall survive and remain in full force and effect following the termination of this Agreement. Section 6.11 Governing Law. This Agreement shall be construed in accordance with and governed by the laws of the State of Texas. 45077476.1 -8- EXHIBIT A IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written. THE CHASE MANHATTAN BANK BY: Title: [SEAL] Address: 600 Travis, Suite 1150 Houston, Texas 77002 Attest: Title: CITY OF WYLIE, TEXAS BY: Mayor Address: 2000 Highway 78 North Wylie, Texas 75098 (CITY SEAL) Attest: City Secretary 45077476.1 _9_ EXHIBIT A Exhibit B to Ordinance DESCRIPTION OF ANNUAL FINANCIAL INFORMATION The following information is referred to in Section 29 of this Ordinance. Annual Financial Statements and Operating Data The financial information and operating data with respect to the City to be provided annually in accordance with such Section are as specified (and included in the Appendix or under the headings of the Official Statement referred to) below: 1. The financial statements of the City appended to the Official Statement as Appendix D, but for the most recently concluded fiscal year. 2. The information contained in Tables 1 through 6 and 8 through 13 in the Official Statement. • Accounting Principles The accounting principles referred to in such Section are the generally accepted accounting principles as applicable to governmental units as prescribed by The Government Accounting Standards Board. 45077343.1 WYLIE CITY COUNCIL AGENDA ITEM NO. 2 September 25, 2001 Issue Consider and act upon approval of an Ordinance authorizing the issuance of$500,000 in Tax Notes, Series 2001, dated September 1, 2001 and all other matters related thereto. Background The City is proposing to issue $500,000 in Tax Notes in order to fund the purchase of equipment and software for various departments including Police, Fire, Public Works, Finance, Utility Billing and Personnel, and to pay costs associated with the issuance of the Notes. The City's Financial Advisors, First Southwest Company, will present the results of the bidding at the Council meeting on September 25, 2001. Other Considerations The Council can take action to issue the Tax Notes or to reject the bids at this meeting. If the bids are awarded, the Council will need to adopt the Ordinance authorizing the tax notes. A Good Faith Deposit of$10,000 will be required from the successful bidder. Financial Consideration The debt service requirements for the Tax Note will be funded from property taxes. The average annual debt service payment over the five year amortization period of the $500,000 is estimated to be $111,500. Board/Commission Recommendations N/A Staff Recommendations Staff recommends that the City Council adopt the proposed ordinance authorizing the issue of $500,000 in Tax Notes, Series 2001, per the recommendation of the First Southwest Company. Attachments Ordinance B y nellgrove (-?- / Prepared by Revie 17, by inance City M. •at:.�pproval WYLIE CITY COUNCIL AGENDA ITEM NO. September 25, 2001 Issue Consider and act upon approval of an Ordinance authorizing the issuance of$500,000 in Tax Notes, Series 2001, dated September 1, 2001 and all other matters related thereto. Background The City is proposing to issue $500,000 in Tax Notes in order to fund the purchase of equipment and software for various departments including Police, Fire, Public Works, Finance, Utility Billing and Personnel, and to pay costs associated with the issuance of the Notes. The City's Financial Advisors, First Southwest Company, will present the results of the bidding at the Council meeting on Septembe 11 2001. Other Considerations The Council can take action to issue the Tax Notes or to reject the bids at this meeting. If the bids are awarded, the Council will need to adopt the Ordinance authorizing the tax notes. A Good Faith Deposit of$10,000 will be required from the successful bidder. Financial Consideration The debt service requirements for the Tax Note will be funded from property taxes. The average annual debt service payment over the five year amortization period of the $500,000 is estimated to be $111,500. Board/Commission Recommendations N/A Staff Recommendations Staff recommends that the City Council adopt the proposed ordinance authorizing the issue of $500,000 in Tax Notes, Series 2001, per the recommendation of the First Southwest Company. Attachments Ordinance Prepared by Reviewed by Finance City Manager Approval ORDINANCE NO. AN ORDINANCE authorizing the issuance of "CITY OF WYLIE, TEXAS, TAX NOTES, SERIES 2001"; specifying the terms and features of said notes; levying a continuing direct annual ad valorem tax for the payment of said notes; and resolving other matters incident and related to the issuance, sale, payment and delivery of said notes, including the approval and execution of a Paying Agent/Registrar Agreement and the approval and distribution of an Official Statement pertaining thereto; and providing an effective date. WHEREAS, pursuant to V.T.C.A., Government Code, Chapter 1431 (hereinafter called the "Act"), the City Council is authorized and empowered to issue anticipation notes to pay contractual obligations to be incurred (i) for the construction of any public work and (ii) for the purchase of materials, supplies, equipment, machinery, buildings, lands and rights-of-way for the City's authorized needs and purposes; and WHEREAS, in accordance with the provisions of the Act, the City Council hereby finds and determines that anticipation notes should be issued and sold at this time to finance the costs of paying contractual obligations to be incurred for (i) the purchase of materials, supplies and equipment and machinery for various city departments including police, fire, public works, finance, utility billing and personnel, and (ii) professional services rendered in relation to such projects and purposes and the financing thereof; now, therefore, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF WYLIE, TEXAS: SECTION 1: Authorization- Designation- Principal Amount-Purpose. Notes of the City shall be and are hereby authorized to be issued in the aggregate principal amount of $500,000, to be designated and bear the title "CITY OF WYLIE, TEXAS, TAX NOTES, SERIES 2001" (hereinafter referred to as the "Notes"), for the purpose of paying contractual obligations to be incurred for (i) the purchase of materials, supplies, equipment and machinery for various city departments, including the police, fire, public works, finance, utility billing and personnel, and (ii) professional services rendered in relation to such projects and purposes and the financing thereof, in conformity with the Constitution and laws of the State of Texas, including V.T.C.A., Government Code, Chapter 1431. SECTION 2: Fully Registered Obligations - Note Date-Authorized Denominations - Stated Maturities-Interest Rates. The Notes shall be issued as fully registered obligations only, shall be dated September 1, 2001 (the "Note Date"), shall be in denominations of$5,000 or any integral multiple thereof, and shall become due and payable on February 15 in each of the years and in principal amounts (the "Stated Maturities") and bear interest at the per annum rate(s) in accordance with the following schedule: 45077513.1 -1- Year of Principal Interest Stated Maturity Amount Rate 2002 $90,000 % 2003 95,000 % 2004 100,000 2005 105,000 % 2006 110,000 % The Notes shall bear interest on the unpaid principal amounts from the Note Date at the rates per annum shown above in this Section (calculated on the basis of a 360-day year of twelve 30-day months), and such interest shall be payable on February 15 and August 15 of each year, commencing February 15, 1999. SECTION 3: Terms of Payment-Paying Agent/Registrar. The principal of, premium, if any, and the interest on the Notes, due and payable by reason of maturity, redemption or otherwise, shall be payable only to the registered owners or holders of the Notes (hereinafter called the "Holders") appearing on the registration and transfer books maintained by the Paying Agent/Registrar and the payment thereof shall be in any coin or currency of the United States of America, which at the time of payment is legal tender for the payment of public and private debts, and shall be without exchange or collection charges to the Holders. The selection and appointment of The Chase Manhattan Bank to serve as Paying Agent/Registrar for the Notes is hereby approved and confirmed. Books and records relating to the registration, payment, transfer and exchange of the Notes (the "Security Register") shall at all times be kept and maintained on behalf of the City by the Paying Agent/Registrar, as provided herein and in accordance with the terms and provisions of a "Paying Agent/ Registrar Agreement", substantially in the form attached hereto as Exhibit A, and such reasonable rules and regulations as the Paying Agent/Registrar and the City may prescribe. The Mayor and City Secretary are authorized to execute and deliver such Agreement in connection with the delivery of the Notes. The City covenants to maintain and provide a Paying Agent/Registrar at all times until the Notes are paid and discharged, and any successor Paying Agent/Registrar shall be a bank, trust company, financial institution or other entity qualified and authorized to serve in such capacity and perform the duties and services of Paying Agent/Registrar. Upon any change in the Paying Agent/Registrar for the Notes, the City agrees to promptly cause a written notice thereof to be sent to each Holder by United States Mail, first class postage prepaid, which notice shall also give the address of the new Paying Agent/Registrar. Principal of and premium, if any, on the Notes shall be payable at the Stated Maturity, only upon presentation and surrender of the Notes to the Paying Agent/Registrar at its designated offices in Dallas, Texas (the "Designated Payment/Transfer Office"). Interest on the Notes shall be paid to the Holders whose name appears in the Security Register at the close of business on the Record Date (the last business day of the month next preceding the interest payment date) and shall be paid by the Paying Agent/Registrar (i) by check sent United States Mail, first class postage prepaid, to the address of the Holder recorded in the Security Register or (ii) by such other method, acceptable to the Paying Agent/Registrar, requested by, and at the risk and expense of, the Holder. If the date for the payment of the 45077513.1 -2- principal of or interest on the Notes shall be a Saturday, Sunday, a legal holiday, or a day when banking institutions in the City where the Paying Agent/Registrar is located are authorized by law or executive order to close, then the date for such payment shall be the next succeeding day which is not such a Saturday, Sunday, legal holiday, or day when banking institutions are authorized to close; and payment on such date shall have the same force and effect as if made on the original date payment was due. In the event of a nonpayment of interest on a scheduled payment date, and for thirty (30) days thereafter, a new record date for such interest payment (a "Special Record Date") will be established by the Paying Agent/ Registrar, if and when funds for the payment of such interest have been received from the City. Notice of the Special Record Date and of the scheduled payment date of the past due interest (which shall be 15 days after the Special Record Date) shall be sent at least five (5) business days prior to the Special Record Date by United States Mail, first class postage prepaid, to the address of each Holder appearing on the Security Register at the close of business on the last business day next preceding the date of mailing of such notice. SECTION 4: Non-Redeemable. The Notes shall not be subject to redemption prior to maturity. SECTION 5: Registration - Transfer - Exchange of Notes-Predecessor Notes. The Paying Agent/Registrar shall obtain, record, and maintain in the Security Register the name and address of each and every owner of the Notes issued under and pursuant to the provisions of this Ordinance, or if appropriate, the nominee thereof. Any Note may be transferred or exchanged for Notes of other authorized denominations by the Holder, in person or by his duly authorized agent, upon surrender of such Note to the Paying Agent/Registrar for cancellation, accompanied by a written instrument of transfer or request for exchange duly executed by the Holder or by his duly authorized agent, in form satisfactory to the Paying Agent/Registrar. Upon surrender of any Note (other than the Initial Notes authorized in Section 8 hereof) for transfer at the Designated Payment/Transfer Office of the Paying Agent/Registrar, the Paying Agent/Registrar shall register and deliver, in the name of the designated transferee or transferees, one or more new Notes of authorized denominations and having the same Stated Maturity and of a like aggregate principal amount as the Note or Notes surrendered for transfer. At the option of the Holder, Notes (other than the Initial Notes authorized in Section 8 hereof) may be exchanged for other Notes of authorized denominations and having the same Stated Maturity, bearing the same rate of interest and of like aggregate principal amount as the Notes surrendered for exchange, upon surrender of the Notes to be exchanged at the Designated Payment/Transfer Office of the Paying Agent/Registrar. Whenever any Notes are surrendered for exchange, the Paying Agent/Registrar shall register and deliver new Notes to the Holder requesting the exchange. All Notes issued in any transfer or exchange of Notes shall be delivered to the Holders at the Designated Payment/Transfer Office of the Paying Agent/Registrar or sent by United States Mail, first class, postage prepaid to the Holders, and, upon the registration and delivery 45077513.1 -3- thereof, the same shall be the valid obligations of the City, evidencing the same obligation to pay, and entitled to the same benefits under this Ordinance, as the Notes surrendered in such transfer or exchange. All transfers or exchanges of Notes pursuant to this Section shall be made without expense or service charge to the Holder, except as otherwise herein provided, and except that the Paying Agent/Registrar shall require payment by the Holder requesting such transfer or exchange of any tax or other governmental charges required to be paid with respect to such transfer or exchange. Notes canceled by reason of an exchange or transfer pursuant to the provisions hereof are hereby defined to be "Predecessor Notes," evidencing all or a portion, as the case may be, of the same obligation to pay evidenced by the new Note or Notes registered and delivered in the exchange or transfer therefor. Additionally, the term "Predecessor Notes" shall include any mutilated, lost, destroyed, or stolen Note for which a replacement Note has been issued, registered, and delivered in lieu thereof pursuant to the provisions of Section 11 hereof and such new replacement Note shall be deemed to evidence the same obligation as the mutilated, lost, destroyed, or stolen Note. SECTION 6: Book-Entry Only Transfers and Transactions. Notwithstanding the provisions contained in Sections 3 and 5 hereof relating to the payment, and transfer/exchange of the Notes, the City hereby approves and authorizes the use of "Book-Entry Only" securities clearance, settlement and transfer system provided by The Depository Trust Company (DTC), a limited purpose trust company organized under the laws of the State of New York, in accordance with the requirements and procedures identified in the Blanket Issuer Letter of Representations, by and between the City and DTC (the "Depository Agreement"). Pursuant to the Depository Agreement and the rules of DTC, the Notes shall be deposited with DTC who shall hold said Notes for its participants (the "DTC Participants"). While the Notes are held by DTC under the Depository Agreement, the Holder of the Notes on the Security Register for all purposes, including payment and notices, shall be Cede & Co., as nominee of DTC, notwithstanding the ownership of each actual purchaser or owner of each Note (the "Beneficial Owners") being recorded in the records of DTC and DTC Participants. In the event DTC determines to discontinue serving as securities depository for the Notes or otherwise ceases to provide book-entry clearance and settlement of securities transactions in general or the City determines that DTC is incapable of properly discharging its duties as securities depository for the Notes, the City covenants and agrees with the Holders of the Notes to cause Notes to be printed in definitive form and provide for the Note certificates to be issued and delivered to DTC Participants and Beneficial Owners, as the case may be. Thereafter, the Notes in definitive form shall be assigned, transferred and exchanged on the Security Register maintained by the Paying Agent/Registrar and payment of such Notes shall be made in accordance with the provisions of Sections 3 and 5 hereof. 45077513.1 -4- SECTION 7: Execution - Registration. The Notes shall be executed on behalf of the City by the Mayor under its seal reproduced or impressed thereon and countersigned by the City Secretary. The signature of said officers on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signatures of individuals who are or were the proper officers of the City on the Note Date shall be deemed to be duly executed on behalf of the City, notwithstanding that such individuals or either of them shall cease to hold such offices at the time of delivery of the Notes to the initial purchaser(s) and with respect to Notes delivered in subsequent exchanges and transfers, all as authorized and provided in V.T.C.A., Government Code, Chapter 1201. No Note shall be entitled to any right or benefit under this Ordinance, or be valid or obligatory for any purpose, unless there appears on such Note either a certificate of registration substantially in the form provided in Section 9C, manually executed by the Comptroller of Public Accounts of the State of Texas, or his duly authorized agent, or a certificate of registration substantially in the form provided in Section 9D, manually executed by an authorized officer, employee or representative of the Paying Agent/Registrar, and either such certificate duly signed upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly certified, registered, and delivered. SECTION 8: Initial Note. The Notes herein authorized shall be initially issued either (i) as a single fully registered note in the total principal amount of $500,000 with principal installments to become due and payable as provided in Section 2 hereof and numbered T-1, or (ii) as multiple fully registered Notes, being one note for each year of maturity in the applicable principal amount and denomination and to be numbered consecutively from T-1 and upward (hereinafter called the "Initial Note(s)") and, in either case, the Initial Note shall be registered in the name of the initial purchaser(s) or the designee thereof. The Initial Note(s) shall be the Notes submitted to the Office of the Attorney General of the State of Texas for approval, certified and registered by the Office of the Comptroller of Public Accounts of the State of Texas and delivered to the initial purchaser(s). Any time after the delivery of the Initial Note(s), the Paying Agent/Registrar, pursuant to written instructions from the initial purchaser(s), or the designee thereof, shall cancel the Initial Note(s) delivered hereunder and exchange therefor definitive Notes of authorized denominations, Stated Maturities, principal amounts and bearing applicable interest rates for transfer and delivery to the Holders named at the addresses identified therefor; all pursuant to and in accordance with such written instructions from the initial purchaser(s), or the designee thereof, and such other information and documentation as the Paying Agent/Registrar may reasonably require. SECTION 9: Forms. A. Forms Generally. The Notes, the Registration Certificate of the Comptroller of Public Accounts of the State of Texas, the Registration Certificate of Paying Agent/Registrar, and the form of Assignment to be printed on each of the Notes, shall be substantially in the forms set forth in this Section with such appropriate insertions, omissions, substitutions, and other variations as are permitted or required by this Ordinance and may have such letters, numbers, or other marks of identification (including identifying numbers and letters of the Committee on Uniform Securities Identification Procedures of the American Bankers Association) and such legends and endorsements (including insurance legends in the event the Notes, or any maturities thereof, are purchased with insurance and any reproduction of an opinion of counsel) thereon as may, consistently herewith, be established by the City or determined by the officers executing such Notes as evidenced by their execution. Any portion 45077513.1 -5- of the text of any Notes may be set forth on the reverse thereof, with an appropriate reference thereto on the face of the Note. The definitive Notes and the Initial Note(s) shall be printed, lithographed, or engraved, typewritten, photocopied or otherwise reproduced in any other similar manner, all as determined by the officers executing such Notes as evidenced by their execution thereof. B. Form of Note. REGISTERED REGISTERED NO. $ UNITED STATES OF AMERICA STATE OF TEXAS CITY OF WYLIE, TEXAS TAX NOTE, SERIES 2001 Note Date: Interest Rate: Stated Maturity: CUSIP NO: September 1, 2001 Registered Owner: Principal Amount: DOLLARS The City of Wylie (hereinafter referred to as the "City"), a body corporate and political subdivision in the County of Collin, State of Texas, for value received, acknowledges itself indebted to and hereby promises to pay to the order of the Registered Owner named above, or the registered assigns thereof, on the Stated Maturity date specified above, without right of prior redemption, the Principal Amount stated above and to pay interest on the unpaid principal amount hereof from the Note Date at the per annum rate of interest specified above computed on the basis of a 360-day year of twelve 30-day months; such interest being payable on February 15 and August 15 in each year, commencing February 15, 2002. Principal of this Note is payable at its Stated Maturity to the registered owner hereof, upon presentation and surrender, at the Designated Payment/Transfer Office of the Paying Agent/Registrar executing the registration certificate appearing hereon, or its successor. Interest is payable to the registered owner of this Note (or one or more Predecessor Notes, as defined in the Ordinance hereinafter referenced) whose name appears on the "Security Register" maintained by the Paying Agent/Registrar at the close of business on the "Record Date", which is the last business day of the month next preceding each interest payment date, and interest shall be paid by the Paying Agent/Registrar by check sent United States Mail, first class postage prepaid, to the address of the registered owner recorded in the Security Register or by such other method, All payments of principal of, premium, if any, and interest on this Note shall be without exchange or collection charges to the owner hereof and in any coin or currency of the United States of America which at the time of payment is legal tender for the payment of public and private debts. 45077513.1 -6- This Note is one of the series specified in its title issued in the aggregate principal amount of $500,000 (herein referred to as the "Notes") for the purpose of paying contractual obligations to be incurred for (i) the purchase of materials, supplies, equipment and machinery for various city departments, including the police, fire, public works, finance, utility billing and personnel, and (ii) professional services rendered in relation to such projects and purposes and the financing thereof, under and in strict conformity with the Constitution and laws of the State of Texas and pursuant to an Ordinance adopted by the City Council of the City (herein referred to as the "Ordinance"). The Notes are payable from the proceeds of an ad valorem tax levied, within the limitations prescribed by law, upon all taxable property in the City. Reference is hereby made to the Ordinance, a copy of which is on file in the Designated Payment/Transfer Office of the Paying Agent/Registrar, and to all of the provisions of which the owner or holder of this Note by the acceptance hereof hereby assents, for definitions of terms; the description of and the nature and extent of the tax levied for the payment of the Notes; the terms and conditions relating to the transfer or exchange of this Note; the conditions upon which the Ordinance may be amended or supplemented with or without the consent of the Holders; the rights, duties, and obligations of the City and the Paying Agent/Registrar; the terms and provisions upon which this Note may be discharged at or prior to its maturity, and deemed to be no longer Outstanding thereunder; and for other terms and provisions contained therein. Capitalized terms used herein have the meanings assigned in the Ordinance. This Note, subject to certain limitations contained in the Ordinance, may be transferred on the Security Register only upon its presentation and surrender at the Designated Payment/Transfer Office of the Paying Agent/Registrar, with the Assignment hereon duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Paying Agent/Registrar duly executed by, the registered owner hereof, or his duly authorized agent. When a transfer on the Security Register occurs, one or more new fully registered Notes of the same Stated Maturity, of authorized denominations, bearing the same rate of interest, and of the same aggregate principal amount will be issued by the Paying Agent/Registrar to the designated transferee or transferees. The City and the Paying Agent/Registrar, and any agent of either, shall treat the registered owner whose name appears on the Security Register (i) on the Record Date as the owner entitled to payment of interest hereon, (ii) on the date of surrender of this Note as the owner entitled to payment of principal hereof at its Stated Maturity and (iii) on any other date as the owner for all other purposes, and neither the City nor the Paying Agent/Registrar, or any agent of either, shall be affected by notice to the contrary. In the event of nonpayment of interest on a scheduled payment date and for thirty (30) days thereafter, a new record date for such interest payment (a "Special Record Date") will be established by the Paying Agent/Registrar, if and when funds for the payment of such interest have been received from the City. Notice of the Special Record Date and of the scheduled payment date of the past due interest (which shall be 15 days after the Special Record Date) shall be sent at least five (5) business days prior to the Special Record Date by United States Mail, first class postage prepaid, to the address of each Holder appearing on the Security Register at the close of business on the last business day next preceding the date of mailing of such notice. 45077513.1 -7- It is hereby certified, recited, represented and declared that the City is a body corporate and political subdivision duly organized and legally existing under and by virtue of the Constitution and laws of the State of Texas; that the issuance of the Notes is duly authorized by law; that all acts, conditions and things required to exist and be done precedent to and in the issuance of the Notes to render the same lawful and valid obligations of the City have been properly done, have happened and have been performed in regular and due time, form and manner as required by the Constitution and laws of the State of Texas, and the Ordinance; that the Notes do not exceed any Constitutional or statutory limitation; and that due provision has been made for the payment of the principal of and interest on the Notes by the levy of a tax as aforestated. In case any provision in this Note shall be invalid, illegal, or unenforceable, the validity, legality, and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. The terms and provisions of this Note and the Ordinance shall be construed in accordance with and shall be governed by the laws of the State of Texas. IN WITNESS WHEREOF, the City Council of the City has caused this Note to be duly executed under the official seal of the City as of the Note Date. CITY OF WYLIE, TEXAS Mayor ATTEST: City Secretary (Seal) 45077513.1 -8- C. *Form of Registration Certificate of Comptroller of Public Accounts to Appear on Initial Note only. REGISTRATION CERTIFICATE OF COMPTROLLER OF PUBLIC ACCOUNTS OFFICE OF THE COMPTROLLER OF PUBLIC ACCOUNTS ( REGISTER NO. THE STATE OF TEXAS I HEREBY CERTIFY that this Note has been examined, certified as to validity and approved by the Attorney General of the State of Texas, and duly registered by the Comptroller of Public Accounts of the State of Texas. WITNESS my signature and seal of office this Comptroller of Public Accounts of the State of Texas (SEAL) D. Form of Certificate of Paying Agent/Registrar to appear on Definitive Notes only. REGISTRATION CERTIFICATE OF PAYING AGENT/REGISTRAR This Note has been duly issued and registered under the provisions of the within- mentioned Ordinance; the note or notes of the above entitled and designated series originally delivered having been approved by the Attorney General of the State of Texas and registered by the Comptroller of Public Accounts, as shown by the records of the Paying Agent/Registrar. The designated offices of the Paying Agent/Registrar located in Dallas, Texas, is the "Designated Payment/Transfer Office" for this Note. Registration Date: THE CHASE MANHATTAN BANK, as Paying Agent/Registrar By: Authorized Signature *NOTE TO PRINTER:Do Not Print on Definitive Notes 45077513.1 -9- • E. Form of Assignment. ASSIGNMENT FOR VALUE RECEIVED the undersigned hereby sells, assigns, and transfers unto (Print or typewrite name, address, and zip code of transferee:) (Social Security or other identifying number:) the within Note and all rights thereunder, and hereby irrevocably constitutes and appoints a ttorney to transfer the within Note on the books kept for registration thereof, with full power of substitution in the premises. DATED: NOTICE: The signature on this Signature guaranteed: assignment must correspond with the name of the registered owner as it appears on the face of the within Note in every particular. F. The Initial Note(s) shall be in the form set forth in paragraph B of this Section, except that the form of a single fully registered Initial Note shall be modified as follows: (i) immediately under the name of the headings "Interest Rate " and "Stated Maturity " shall both be omitted; (ii) paragraph one shall read as follows: Registered Owner: Principal Amount: Dollars The City of Wylie (hereinafter referred to as the "City"), a body corporate and municipal corporation in the County of Collin, State of Texas, for value received, acknowledges itself indebted to and hereby promises to pay to the order of the Registered Owner named above, or the registered assigns thereof, the Principal Amount hereinabove stated on February 15 in each of the years and in principal installments in accordance with the following schedule: YEAR OF PRINCIPAL INTEREST MATURITY INSTALLMENTS RATE (Information to be inserted from schedule in Section 2 hereof). (or so much thereof as shall not have been prepaid prior to maturity) and to pay interest on the unpaid principal amounts hereof from the Note Date at the per annum rate(s) of interest 45077513.1 -10- specified above computed on the basis of a 360-day year of twelve 30-day months; such interest being payable on February 15 and August 15 of each year, commencing February 15, 2002. Principal installments of this Certificate are payable at its Stated Maturity or on a prepayment date to the registered owner hereof by The Chase Manhattan Bank (the "Paying Agent/Registrar"), upon presentation and surrender, at its designated offices in Dallas, Texas (the "Designated Payment/Transfer Office"). Interest is payable to the registered owner of this Certificate whose name appears on the "Security Register" maintained by the Paying Agent/Registrar at the close of business on the "Record Date", which is the last business day of the month next preceding each interest payment date hereof and interest shall be paid by the Paying Agent/Registrar by check sent United States Mail, first class postage prepaid, to the address of the registered owner recorded in the Security Register or by such other method, acceptable to the Paying Agent/ Registrar, requested by, and at the risk and expense of, the registered owner. All payments of principal of, premium, if any, and interest on this Note shall be without exchange or collection charges to the owner hereof and in any coin or currency of the United States of America which at the time of payment is legal tender for the payment of public and private debts. SECTION 10: Levy of Taxes. To provide for the payment of the "Debt Service Requirements" of the Notes, being (i) the interest on the Notes and (ii) a sinking fund for their redemption at maturity or a sinking fund of 2% (whichever amount is the greater), there is hereby levied, and there shall be annually assessed and collected in due time, form, and manner, a tax on all taxable property in the City, within the limitations prescribed by law, and such tax hereby levied on each one hundred dollars' valuation of taxable property in the City for the Debt Service Requirements of the Notes shall be at a rate from year to year as will be ample and sufficient to provide funds each year to pay the principal of and interest on said Notes while Outstanding; full allowance being made for delinquencies and costs of collection; separate books and records relating to the receipt and disbursement of taxes levied, assessed and collected for and on account of the Notes shall be kept and maintained by the City at all times while the Notes are Outstanding, and the taxes collected for the payment of the Debt Service Requirements on the Notes shall be deposited to the credit of a "Special 2001 Note Account" (the "Interest and Sinking Fund") maintained on the records of the City and deposited in a special fund maintained at an official depository of the City's funds; and such tax hereby levied, and to be assessed and collected annually, is hereby pledged to the payment of the Notes. Proper officers of the City are hereby authorized and directed to cause to be transferred to the Paying Agent/Registrar for the Notes, from funds on deposit in the Interest and Sinking Fund, amounts sufficient to fully pay and discharge promptly each installment of interest and principal of the Notes as the same accrues or matures; such transfers of funds to be made in such manner as will cause collected funds to be deposited with the Paying Agent/Registrar on or before each principal and interest payment date for the Notes. SECTION 11: Mutilated-Destroyed-Lost and Stolen Notes. In case any Note shall be mutilated, or destroyed, lost or stolen, the Paying Agent/Registrar may execute and deliver a replacement Note of like form and tenor, and in the same denomination and bearing a number not contemporaneously outstanding, in exchange and substitution for such mutilated Note, or in lieu of and in substitution for such destroyed, lost or stolen Note, only upon the approval of the City and after (i) the filing by the Holder thereof with the Paying Agent/Registrar of 45077513.1 -11- evidence satisfactory to the Paying Agent/Registrar of the destruction, loss or theft of such Note, and of the authenticity of the ownership thereof and (ii) the furnishing to the Paying Agent/Registrar of indemnification in an amount satisfactory to hold the City and the Paying Agent/Registrar harmless. All expenses and charges associated with such indemnity and with the preparation, execution and delivery of a replacement Note shall be borne by the Holder of the Note mutilated, or destroyed, lost or stolen. Every replacement Note issued pursuant to this Section shall be a valid and binding obligation, and shall be entitled to all the benefits of this Ordinance equally and ratably with all other Outstanding Notes; notwithstanding the enforceability of payment by anyone of the destroyed, lost, or stolen Notes. The provisions of this Section are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement and payment of mutilated, destroyed, lost or stolen Notes. SECTION 12: Satisfaction of Obligation of City. If the City shall pay or cause to be paid, or there shall otherwise be paid to the Holders, the principal of, premium, if any, and interest on the Notes, at the times and in the manner stipulated in this Ordinance, then the pledge of taxes levied under this Ordinance and all covenants, agreements, and other obligations of the City to the Holders shall thereupon cease, terminate, and be discharged and satisfied. Notes or any principal amount(s) thereof shall be deemed to have been paid within the meaning and with the effect expressed above in this Section when (i) money sufficient to pay in full such Notes or the principal amount(s) thereof at maturity or the redemption date therefor, together with all interest due thereon, shall have been irrevocably deposited with and held in trust by the Paying Agent/Registrar, or an authorized escrow agent, or (ii) Government Securities shall have been irrevocably deposited in trust with the Paying Agent/Registrar, or an authorized escrow agent, which Government Securities have been certified by an independent accounting firm to mature as to principal and interest in such amounts and at such times as will insure the availability, without reinvestment, of sufficient money, together with any moneys deposited therewith, if any, to pay when due the principal of and interest on such Notes, or the principal amount(s) thereof, on and prior to the Stated Maturity thereof or (if notice of redemption has been duly given or waived or if irrevocable arrangements therefor acceptable to the Paying Agent/ Registrar have been made) the redemption date thereof. The City covenants that no deposit of moneys or Government Securities will be made under this Section and no use made of any such deposit which would cause the Notes to be treated as "arbitrage bonds" within the meaning of Section 148 of the Internal Revenue Code of 1986, as amended, or regulations adopted pursuant thereto. Any moneys so deposited with the Paying Agent/ Registrar, or an authorized escrow agent, and all income from Government Securities held in trust by the Paying Agent/Registrar, or an authorized escrow agent, pursuant to this Section which is not required for the payment of the Notes, or any principal amount(s) thereof, or interest thereon with respect to which such moneys have been so deposited shall be remitted to the City or deposited as directed by the City. Furthermore, any money held by the Paying Agent/Registrar for the payment of the principal of and interest on the Notes and remaining unclaimed for a period of three (3) years 45077513.1 -12- after the Stated Maturity, or applicable redemption date, of th'e Notes such moneys were deposited and are held in trust to pay shall upon the request of the City be remitted to the City against a written receipt therefor. Notwithstanding the above and foregoing, any remittance of funds from the Paying Agent/Registrar to the City shall be subject to any applicable unclaimed property laws of the State of Texas. The term "Government Securities", as used herein, means (i) direct noncallable obligations of the United States of America, including obligations the principal of and interest on which are unconditionally guaranteed by the United States of America, (ii) noncallable obligations of an agency or instrumentality of the United States, including obligations unconditionally guaranteed or insured by the agency or instrumentality and on the date of their acquisition or purchase by the City are rated as to investment quality by a nationally recognized investment rating firm not less than AAA or its equivalent and (iii) noncallable obligations of a state or an agency or a county, municipality, or other political subdivision of a state that have been refunded and on the date of their acquisition or purchase by the City, are rated as to investment quality by a nationally recognized investment rating firm not less than AAA or its equivalent. SECTION 13: Ordinance a Contract- Amendments - Outstanding Notes. This Ordinance shall constitute a contract with the Holders from time to time, be binding on the City, and shall not be amended or repealed by the City so long as any Note remains Outstanding except as permitted in this Section. The City may, without the consent of or notice to any Holders, from time to time and at any time, amend this Ordinance in any manner not detrimental to the interests of the Holders, including the curing of any ambiguity, inconsistency, or formal defect or omission herein. In addition, the City may, with the consent of Holders holding a majority in aggregate principal amount of the Notes then Outstanding affected thereby, amend, add to, or rescind any of the provisions of this Ordinance; provided that, without the consent of all Holders of Outstanding Notes, no such amendment, addition, or rescission shall (1) extend the time or times of payment of the principal of, premium, if any, and interest on the Notes, reduce the principal amount thereof, or the rate of interest thereon, or the redemption price, or in any other way modify the terms of payment of the principal of, premium, if any, or interest on the Notes, (2) give any preference to any Note over any other Note, or (3) reduce the aggregate principal amount of Notes required to be held by Holders for consent to any such amendment, addition, or rescission. The term "Outstanding" when used in this Ordinance with respect to Notes means, as of the date of determination, all Notes theretofore issued and delivered under this Ordinance, except: (1) those Notes cancelled by the Paying Agent/Registrar or delivered to the Paying Agent/Registrar for cancellation; (2) those Notes deemed to be duly paid by the City in accordance with the provisions of Section 12 hereof; and (3) those mutilated, destroyed, lost, or stolen Notes which have been replaced with Notes registered and delivered in lieu thereof as provided in Section 11 hereof. 45077513.1 -13- SECTION 14: Covenants to Maintain Tax-Exempt Status. (a) Definitions. When used in this Section 14, the following terms have the following meanings: "Closing Date" means the date on which the Notes are first authenticated and delivered to the initial purchasers against payment therefor. "Code" means the Internal Revenue Code of 1986, as amended by all legislation, if any, effective on or before the Closing Date. "Computation Date" has the meaning set forth in Section 1.148-1(b) of the Regulations. "Gross Proceeds" means any proceeds as defined in Section 1.148-1(b) of the Regulations, and any replacement proceeds as defined in Section 1.148-1(c) of the Regulations, of the Notes. "Investment" has the meaning set forth in Section 1.148-1(b) of the Regulations. "Nonpurpose Investment" means any investment property, as defined in section 148(b) of the Code, in which Gross Proceeds of the Notes are invested and which is not acquired to carry out the governmental purposes of the Notes. "Rebate Amount" has the meaning set forth in Section 1.148-1(b) of the Regulations. "Regulations" means any proposed, temporary, or final Income Tax Regulations issued pursuant to Sections 103 and 141 through 150 of the Code, and 103 of the Internal Revenue Code of 1954, which are applicable to the Notes. Any reference to any specific Regulation shall also mean, as appropriate, any proposed, temporary or final Income Tax Regulation designed to supplement, amend or replace the specific Regulation referenced. "Yield" of (1) any Investment has the meaning set forth in Section 1.148-5 of the Regulations and (2) the Notes has the meaning set forth in Section 1.148-4 of the Regulations. (b) Not to Cause Interest to Become Taxable. The City shall not use, permit the use of, or omit to use Gross Proceeds or any other amounts (or any property the acquisition, construction or improvement of which is to be financed directly or indirectly with Gross Proceeds) in a manner which if made or omitted, respectively, would cause the interest on any Note to become includable in the gross income, as defined in section 61 of the Code, of the owner thereof for federal income tax purposes. Without limiting the generality of the foregoing, unless and until the City receives a written opinion of counsel nationally recognized in the field of municipal bond law to the effect that failure to comply with such covenant will not adversely affect the exemption from federal income tax of the interest on any Note, the City shall comply with each of the specific covenants in this Section. (c) No Private Use or Private Payments. Except as permitted by section 141 of the Code and the Regulations and rulings thereunder, the City shall at all times prior to the last Stated Maturity of Notes: 45077513.1 -14- (1) exclusively own, operate and possess all property the acquisition, construction or improvement of which is to be financed or refinanced directly or indirectly with Gross Proceeds of the Notes, and not use or permit the use of such Gross Proceeds (including all contractual arrangements with terms different than those applicable to the general public) or any property acquired, constructed or improved with such Gross Proceeds in any activity carried on by any person or entity (including the United States or any agency, department and instrumentality thereof) other than a state or local government, unless such use is solely as a member of the general public; and (2) not directly or indirectly impose or accept any charge or other payment by any person or entity who is treated as using Gross Proceeds of the Notes or any property the acquisition, construction or improvement of which is to be financed or refinanced directly or indirectly with such Gross Proceeds, other than taxes of general application within the City or interest earned on investments acquired with such Gross Proceeds pending application for their intended purposes. (d) No Private Loan. Except to the extent permitted by section 141 of the Code and the Regulations and rulings thereunder, the City shall not use Gross Proceeds of the Notes to make or finance loans to any person or entity other than a state or local government. For purposes of the foregoing covenant, such Gross Proceeds are considered to be "loaned" to a person or entity if: (1) property acquired, constructed or improved with such Gross Proceeds is sold or leased to such person or entity in a transaction which creates a debt for federal income tax purposes; (2) capacity in or service from such property is committed to such person or entity under a take-or-pay, output or similar contract or arrangement; or (3) indirect benefits, or burdens and benefits of ownership, of such Gross Proceeds or any property acquired, constructed or improved with such Gross Proceeds are otherwise transferred in a transaction which is the economic equivalent of a loan. (e) Not to Invest at Higher Yield. Except to the extent permitted by section 148 of the Code and the Regulations and rulings thereunder, the City shall not at any time prior to the final Stated Maturity of the Notes directly or indirectly invest Gross Proceeds in any Investment (or use Gross Proceeds to replace money so invested), if as a result of such investment the Yield from the Closing Date of all Investments acquired with Gross Proceeds (or with money replaced thereby), whether then held or previously disposed of, exceeds the Yield of the Notes. (f) Not Federally Guaranteed. Except to the extent permitted by section 149(b) of the Code and the Regulations and rulings thereunder, the City shall not take or omit to take any action which would cause the Notes to be federally guaranteed within the meaning of section 149(b) of the Code and the Regulations and rulings thereunder. (g) Information Report. The City shall timely file the information required by section 149(e) of the Code with the Secretary of the Treasury on Form 8038-G or such other form and in such place as the Secretary may prescribe. 45077513.1 -15- (h) No Rebate Required. The City warrants and represents that it satisfies the requirements of paragraph (2) and (3) of section 148(f) of the code with respect to the Notes without making the payments for the United States described in such section. Specifically, the City warrants and represents that: (1) the City is a governmental unit with general taxing powers; (2) at least 95% of the net proceeds of the Notes will be used for the local governmental activities of the City; (3) the aggregate face amount of all tax-exempt obligations issued or expected to be issued by the City (and all subordinate entities thereof) in the calendar year in which the Notes are issued is not reasonably expected to exceed $5,000,000. (i) Qualified Tax Exempt Obligations. In accordance with the provisions of paragraph (3) of subsection (b) of Section 265 of the Code, the City hereby designates the Notes to be "qualified tax exempt obligations" in that the Notes are not "private activity bonds" as defined in the Code and the reasonably anticipated amount of "qualified tax exempt obligations" to be issued by the City (including all subordinate entities of the City) for the calendar year 2001 will not exceed $10,000,000. (j) Elections. The City hereby directs and authorizes the Mayor, City Secretary, City Manager and Director of Finance, individually or jointly, to make elections permitted or required pursuant to the provisions of the Code or the Regulations, as they deem necessary or appropriate in connection with the Notes, in the Certificate as to Tax Exemption or similar or other appropriate certificate, form or document. SECTION 15: Sale of the Notes. Pursuant to a public sale for the Notes, the bid submitted by (herein referred to as the "Purchasers") is declared to be the best bid received producing the lowest true interest cost rate to the City, and the sale of the Notes to said Purchasers at the price of par and accrued interest to the date of delivery, plus a premium of $ , is hereby approved and confirmed. Delivery of the Notes to the Purchasers shall occur as soon as possible upon payment being made therefor in accordance with the terms of sale. SECTION 16: Official Statement The use of the Preliminary Official Statement, dated August 31, 2001, in the offering and sale of the Notes is hereby ratified, confirmed and approved in all respects, and the City Council hereby finds that the information and data contained in said Preliminary Official Statement pertaining to the City and its financial affairs is true and correct in all material respects and no material facts have been omitted therefrom which are necessary to make the statements therein, in light of the circumstances under which they were made, not misleading. The final Official Statement, which reflects the terms of sale (together with such changes approved by the Mayor, City Secretary, City Manager of Director of Finance, one or more of said officials), shall be and is hereby in all respects approved and the Purchasers are hereby authorized to use and distribute said final Official Statement, dated September,, 2001, in the reoffering, sale and delivery of the Notes to the public. 45077513.1 -16- SECTION 17: Control and Custody of Notes. The Mayor' of the City shall be and is hereby authorized to take and have charge of all necessary orders and records pending investigation by the Attorney General of the State of Texas, including the printing and supply of definitive Notes, and shall take and have charge and control of the Initial Note pending the approval thereof by the Attorney General, the registration thereof by the Comptroller of Public Accounts and the delivery thereof to the initial purchasers. Furthermore, the Mayor, City Manager, Director of Finance and City Secretary, any one or more of said officials, are hereby authorized and directed to furnish and execute such documents and certifications relating to the City and the issuance of the Notes, including certifications as to facts, estimates, circumstances and reasonable expectations pertaining to the use, expenditure, and investment of the proceeds of the Notes, as may be necessary for the approval of the Attorney General, the registration by the Comptroller of Public Accounts and the delivery of the Notes to the purchasers, and, together with the City's financial advisor, bond counsel and the Paying Agent/Registrar, make the necessary arrangements for the delivery of the Initial Note to the purchasers and the initial exchange thereof for definitive Notes. SECTION 18: Proceeds of Sale. The proceeds of sale of the Notes, excluding the accrued interest received from the purchasers, shall be deposited in a construction fund maintained at the City's depository bank. Pending expenditure for authorized projects and purposes, such proceeds of sale may be invested in authorized investments in accordance with the provisions of V.T.C.A., Government Code, Chapter 2256, including guaranteed investment contracts permitted by V.T.C.A., Section 2256.015 et seq., and the City's investment policies and guidelines, and any investment earnings realized shall be expended for such authorized projects and purposes or deposited in the Interest and Sinking Fund as shall be determined by the City Council. Accrued interest and premium, if any, received from the sale of the Notes and any excess note proceeds, including investment earnings, remaining after completion of all authorized projects or purposes shall be deposited to the credit of the Interest and Sinking Fund. SECTION 19: Notices to Holders-Waiver. Wherever this Ordinance provides for notice to Holders of any event, such notice shall be sufficiently given (unless otherwise herein expressly provided) if in writing and sent by United States Mail, first class postage prepaid, to the address of each Holder appearing in the Security Register at the close of business on the business day next preceding the mailing of such notice. In any case where notice to Holders is given by mail, neither the failure to mail such notice to any particular Holders, nor any defect in any notice so mailed, shall affect the sufficiency of such notice with respect to all other Notes. Where this Ordinance provides for notice in any manner, such notice may be waived in writing by the Holder entitled to receive such notice, either before or after the event with respect to which such notice is given, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Paying Agent/Registrar, but such filing shall not be a condition precedent to the validity of any action taken in reliance upon such waiver. SECTION 20: Cancellation. All Notes surrendered for payment, redemption, transfer, exchange, or replacement, if surrendered to the Paying Agent/Registrar, shall be promptly 45077513.1 -17- canceled by it and, if surrendered to the City, shall be delivered to the Paying Agent/Registrar and, if not already canceled, shall be promptly canceled by the Paying Agent/Registrar. The City may at any time deliver to the Paying Agent/Registrar for cancellation any Notes previously certified or registered and delivered which the City may have acquired in any manner whatsoever, and all Notes so delivered shall be promptly canceled by the Paying Agent/Registrar. All canceled Notes held by the Paying Agent/Registrar shall be returned to the City. SECTION 21: Legal Opinion. The obligation of the Purchasers to accept delivery of the Notes is subject to being furnished a final opinion of Fulbright & Jaworski L.L.P., Attorneys, Dallas, Texas, approving such Notes as to their validity, said opinion to be dated and delivered as of the date of delivery and payment for such Notes. A true and correct reproduction of said opinion is hereby authorized to be printed on definitive printed obligations. SECTION 22: CUSIP Numbers. CUSIP numbers may be printed or typed on the definitive Notes. It is expressly provided, however, that the presence or absence of CUSIP numbers on the definitive Notes shall be of no significance or effect as regards the legality thereof and neither the City nor attorneys approving the Notes as to legality are to be held responsible for CUSIP numbers incorrectly printed or typed on the definitive Notes. SECTION 23: Benefits of Ordinance. Nothing in this Ordinance, expressed or implied, is intended or shall be construed to confer upon any person other than the City, the Paying Agent/Registrar and the Holders, any right, remedy, or claim, legal or equitable, under or by reason of this Ordinance or any provision hereof, this Ordinance and all its provisions being intended to be and being for the sole and exclusive benefit of the City, the Paying Agent/Registrar and the Holders. SECTION 24: Inconsistent Provisions. All ordinances, orders or resolutions, or parts thereof, which are in conflict or inconsistent with any provision of this Ordinance are hereby repealed to the extent of such conflict, and the provisions of this Ordinance shall be and remain controlling as to the matters contained herein. SECTION 25: Governing Law. This Ordinance shall be construed and enforced in accordance with the laws of the State of Texas and the United States of America. SECTION 26: Effect of Headings. The Section headings herein are for convenience only and shall not affect the construction hereof. SECTION 27: Construction of Terms. If appropriate in the context of this Ordinance, words of the singular number shall be considered to include the plural, words of the plural number shall be considered to include the singular, and words of the masculine, feminine or neuter gender shall be considered to include the other genders. SECTION 28: Severability. If any provision of this Ordinance or the application thereof to any circumstance shall be held to be invalid, the remainder of this Ordinance and the application thereof to other circumstances shall nevertheless be valid, and the City Council hereby declares that this Ordinance would have been enacted without such invalid provision. 45077513.1 -18- SECTION 29: Continuing Disclosure Undertaking. (a) Definitions. As used in this Section, the following terms have the meanings ascribed to such terms below: "MSRB" means the Municipal Securities Rulemaking Board. "NRMSIR" means each person whom the SEC or its staff has determined to be a nationally recognized municipal securities information repository within the meaning of the Rule from time to time. "Rule" means SEC Rule 15c2-12, as amended from time to time. "SEC" means the United States Securities and Exchange Commission. "SID" means any person designated by the State of Texas or an authorized department, officer, or agency thereof as, and determined by the SEC or its staff to be, a state information depository within the meaning of the Rule from time to time. (b) Annual Reports. The City shall provide annually to each NRMSIR and any SID, within six months after the end of each fiscal year (beginning with the fiscal year ending September 30, 2001) financial information and operating data with respect to the City of the general type included in the final Official Statement approved by Section 16 of this Ordinance, being the information described in Exhibit B hereto. Financial statements to be provided shall be (1) prepared in accordance with the accounting principles described in Exhibit B hereto and (2) audited, if the City commissions an audit of such statements and the audit is completed within the period during which they must be provided. If audited financial statements are not available at the time the financial information and operating data must be provided, then the City shall provide unaudited financial statements for the applicable fiscal year to each NRMSIR and any SID with the financial information and operating data and will file the annual audit report, when and if the same becomes available. If the City changes its fiscal year, it will notify each NRMSIR and any SID of the change (and of the date of the new fiscal year end) prior to the next date by which the City otherwise would be required to provide financial information and operating data pursuant to this Section. The financial information and operating data to be provided pursuant to this Section may be set forth in full in one or more documents or may be included by specific reference to any document (including an official statement or other offering document, if it is available from the MSRB) that theretofore has been provided to each NRMSIR and any SID or filed with the SEC. (c) Material Event Notices. The City shall notify any SID and either each NRMSIR or the MSRB, in a timely manner, of any of the following events with respect to the Notes, if such event is material within the meaning of the federal securities laws: 1. Principal and interest payment delinquencies; 2. Non-payment related defaults; 3. Unscheduled draws on debt service reserves reflecting financial difficulties; 4. Unscheduled draws on credit enhancements reflecting financial difficulties; 45077513.1 -19- 5. Substitution of credit or liquidity providers, or their failure to perform; 6. Adverse tax opinions or events affecting the tax-exempt status of the Notes; 7. Modifications to rights of holders of the Notes; 8. Note calls; 9. Defeasances; 10. Release, substitution, or sale of property securing repayment of the Notes; and 11. Rating changes. The City shall notify any SID and either each NRMSIR or the MSRB, in a timely manner, of any failure by the City to provide financial information or operating data in accordance with subsection (b) of this Section by the time required by such Section. (d) Limitations, Disclaimers, and Amendments. The City shall be obligated to observe and perform the covenants specified in this Section while, but only while, the City remains an "obligated person" with respect to the Notes within the meaning of the Rule, except that the City in any event will give the notice required by subsection (c) hereof of any defeasance that cause the City to be no longer such an "obligated person." The provisions of this Section are for the sole benefit of the Holders and beneficial owners of the Notes, and nothing in this Section, express or implied, shall give any benefit or any legal or equitable right, remedy, or claim hereunder to any other person. The City undertakes to provide only the financial information, operating data, financial statements, and notices which it has expressly agreed to provide pursuant to this Section and does not hereby undertake to provide any other information that may be relevant or material to a complete presentation of the City's financial results, condition, or prospects or hereby undertake to update any information provided in accordance with this Section or otherwise, except as expressly provided herein. The City does not make any representation or warranty concerning such information or its usefulness to a decision to invest in or sell Notes at any future date. UNDER NO CIRCUMSTANCES SHALL THE CITY BE LIABLE TO THE HOLDER OR BENEFICIAL OWNER OF ANY NOTE OR ANY OTHER PERSON, IN CONTRACT OR TORT, FOR DAMAGES RESULTING IN WHOLE OR IN PART FROM ANY BREACH BY THE CITY, WHETHER NEGLIGENT OR WITHOUT FAULT ON ITS PART, OF ANY COVENANT SPECIFIED IN THIS SECTION, BUT EVERY RIGHT AND REMEDY OF ANY SUCH PERSON, IN CONTRACT OR TORT, FOR OR ON ACCOUNT OF ANY SUCH BREACH SHALL BE LIMITED TO AN ACTION FOR MANDAMUS OR SPECIFIC PERFORMANCE. No default by the City in observing or performing its obligations under this Section shall constitute a breach of or default under this Ordinance for purposes of any other provision of this Ordinance. Nothing in this Section is intended or shall act to disclaim, waive, or otherwise limit the duties of the City under federal and state securities laws. The provisions of this Section may be amended by the City from time to time to adapt to changed circumstances resulting from a change in legal requirements, a change in law, or a change in the identity, nature, status, or type of operations of the City, but only if (1) the provisions of this Section, as so amended, would have permitted underwriters to purchase or 45077513.1 -20- sell Notes in the primary offering of the Notes in compliance with the Rule, taking into account any amendments or interpretations of the Rule to the date of such amendment, as well as such changed circumstances, and (2) either (a) the Holders of a majority in aggregate principal amount (or any greater amount required by any other provision of this Ordinance that authorizes such an amendment) of the Outstanding Notes consent to such amendment or (b) a Person that is unaffiliated with the City (such as nationally recognized bond counsel) determines that such amendment will not materially impair the interests of the Holders and beneficial owners of the Notes. The provisions of this Section may also be amended from time to time or repealed by the City if the SEC amends or repeals the applicable provisions of the Rule or a court of final jurisdiction determines that such provisions are invalid, but only if and to the extent that reservation of the City's right to do so would not prevent underwriters of the initial public offering of the Notes from lawfully purchasing or selling Notes in such offering. If the City so amends the provisions of this Section, it shall include with any amended financial information or operating data next provided in accordance with subsection (b) an explanation, in narrative form, of the reasons for the amendment and of the impact of any change in the type of financial information or operating data so provided. SECTION 30: Public Meeting. It is officially found, determined, and declared that the meeting at which this Ordinance is adopted was open to the public and public notice of the time, place, and subject matter of the public business to be considered at such meeting, including this Ordinance, was given, all as required by V.T.C.A., Government Code, Chapter 551. SECTION 31: Effective Date. This Ordinance shall take effect and be in full force immediately from and after its date of adoption shown below. PASSED AND ADOPTED, this September001. CITY OF WYLIE, TEXAS Mayor ATTEST: City Secretary (City Seal) 45077513.1 -21- EXHIBIT A PAYING AGENT/REGISTRAR AGREEMENT THIS AGREEMENT entered into as of September'. 2001 (this "Agreement"), by and between the City of Wylie, Texas (the "Issuer"), and The Chase Manhattan Bank, a New York banking corporation organized and existing under the laws of the State of New York and authorized to do business in the State of Texas, RECITALS WHEREAS, the Issuer has duly authorized and provided for the issuance of its "City of Wylie, Texas, Tax Notes, Series 2001" (the "Notes") in the aggregate principal amount of $500,000, such Notes to be issued in fully registered form only as to the payment of principal and interest thereon; and WHEREAS, the Notes are scheduled to be delivered to the initial purchasers on or about October 16, 2001; and WHEREAS, the Issuer has selected the Bank to serve as Paying Agent/Registrar in connection with the payment of the principal of, premium, if any, and interest on said Notes and with respect to the registration, transfer and exchange thereof by the registered owners thereof; and WHEREAS, the Bank has agreed to serve in such capacities for and on behalf of the Issuer and has full power and authority to perform and serve as Paying Agent/Registrar for the Notes; NOW, THEREFORE, it is mutually agreed as follows: ARTICLE ONE APPOINTMENT OF BANK AS PAYING AGENT AND REGISTRAR Section 1.01. Appointment. The Issuer hereby appoints the Bank to serve as Paying Agent with respect to the Notes, and, as Paying Agent for the Notes, the Bank shall be responsible for paying on behalf of the Issuer the principal, premium (if any), and interest on the Notes as the same become due and payable to the registered owners thereof; all in accordance with this Agreement and the "Note Resolution" (hereinafter defined). The Issuer hereby appoints the Bank as Registrar with respect to the Notes and, as Registrar for the Notes, the Bank shall keep and maintain for and on behalf of the Issuer books and records as to the ownership of said Notes and with respect to the transfer and exchange thereof as provided herein and in the "Note Resolution". The Bank hereby accepts its appointment, and agrees to serve as the Paying Agent and Registrar for the Notes. Section 1.02. Compensation. As compensation for the Bank's services as Paying Agent/Registrar, the Issuer hereby agrees to pay the Bank the fees and amounts set forth in Annex A attached hereto for the first year of this Agreement and thereafter the fees and amounts set forth in the Bank's current fee schedule then in effect for services as Paying Agent/Registrar for municipalities, which shall be supplied to the Issuer on or before 90 days 45077676.1 prior to the close of the Fiscal Year of the Issuer, and shall be effective upon the first day of the following Fiscal Year. In addition, the Issuer agrees to reimburse the Bank upon its request for all reasonable expenses, disbursements and advances incurred or made by the Bank in accordance with any of the provisions hereof (including the reasonable compensation and the expenses and disbursements of its agents and counsel). ARTICLE TWO DEFINITIONS Section 2.01. Definitions. For all purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires: "Acceleration Date" on any Note means the date on and after which the principal or any or all installments of interest, or both, are due and payable on any Note which has become accelerated pursuant to the terms of the Note. "Bank Office" means the offices of the Bank located in New York, New York at the address appearing in Section 3.01 hereof. The Bank will notify the Issuer in writing of any change in location of the Bank Office. "Fiscal Year" means the fiscal year of the Issuer, ending September 30th. "Holder" and "Note Holder" each means the Person in whose name a Note is registered in the Note Register. "Issuer Request" and "Issuer Order" means a written request or order signed in the name of the Issuer by the Mayor, City Secretary, City Manager and Director of Finance, any one or more of said officials, and delivered to the Bank. "Legal Holiday" means a day on which the Bank is required or authorized to be closed. "Person" means any individual, corporation, partnership, joint venture, association, joint stock company, trust, unincorporated organization or government or any agency or political subdivision of a government. "Predecessor Notes" of any particular Note means every previous Note evidencing all or a portion of the same obligation as that evidenced by such particular Note (and, for the purposes of this definition, any mutilated, lost, destroyed, or stolen Note for which a replacement Note has been registered and delivered in lieu thereof pursuant to Section 4.06 hereof and the Resolution). "Note Resolution" means the resolution, order, or ordinance of the governing body of the Issuer pursuant to which the Notes are issued, certified by the Secretary or any other officer of the Issuer and delivered to the Bank. "Note Register" means a register maintained by the Bank on behalf of the Issuer providing for the registration and transfers of Notes. -2- EXHIBIT A "Redemption Date" when used with respect to any Note to be redeemed means the date fixed for such redemption pursuant to the terms of the Note Resolution. "Responsible Officer" when used with respect to the Bank means the Chairman or Vice-Chairman of the Board of Directors, the Chairman or Vice-Chairman of the Executive Committee of the Board of Directors, the President, any Vice President, the Secretary, any Assistant Secretary, the Treasurer, any Assistant Treasurer, the Cashier, any Assistant Cashier, any Trust Officer or Assistant Trust Officer, or any other officer of the Bank customarily performing functions similar to those performed by any of the above designated officers and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of his knowledge of and familiarity with the particular subject. "Stated Maturity" means the date specified in the Note Resolution the principal of a Note is scheduled to be due and payable. Section 2.02. Other Definitions. The terms "Bank," "Issuer," and "Notes (Note)" have the meanings assigned to them in the recital paragraphs of this Agreement. The term "Paying Agent/Registrar" refers to the Bank in the performance of the duties and functions of this Agreement. ARTICLE THREE PAYING AGENT Section 3.01. Duties of Paying Agent As Paying Agent, the Bank shall, provided adequate collected funds have been provided to it for such purpose by or on behalf of the Issuer, pay on behalf of the Issuer the principal of each Note at its Stated Maturity, Redemption Date, or Acceleration Date, to the Holder upon surrender of the Note to the Bank at the following address: P. O. Box 2320, Dallas, Texas 75221-2320 or 2001 Bryan Street, 9th Floor, Dallas, Texas 75201, Attention: Operations. As Paying Agent, the Bank shall, provided adequate collected funds have been provided to it for such purpose by or on behalf of the Issuer, pay on behalf of the Issuer the interest on each Note when due, by computing the amount of interest to be paid each Holder and making payment thereof to the Holders of the Notes (or their Predecessor Notes) on the Record Date. All payments of principal and/or interest on the Notes to the registered owners shall be accomplished (1) by the issuance of checks, payable to the registered owners, drawn on the fiduciary account provided in Section 5.05 hereof, sent by United States mail, first class, postage prepaid, to the address appearing on the Note Register or (2) by such other method, acceptable to the Bank, requested in writing by the Holder at the Holder's risk and expense. Section 3.02. Payment Dates. The Issuer hereby instructs the Bank to pay the principal of and interest on the Notes at the dates specified in the Note Resolution. ARTICLE FOUR REGISTRAR Section 4.01. Note Register-Transfers and Exchanges. The Bank agrees to keep and maintain for and on behalf of the Issuer at the Bank Office books and records (herein sometimes referred to as the "Note Register") for recording the names and addresses of the -3- EXHIBIT A Holders of the Notes, the transfer, exchange and replacement of the Notes and the payment of the principal of and interest on the Notes to the Holders and containing such other information as may be reasonably required by the Issuer and subject to such reasonable regulations as the Issuer and Bank may prescribe. All transfers, exchanges and replacement of Securities shall be noted in the Note Register. The Bank represents and warrants its office in Dallas, Texas will at all times have immediate access to the Note Register by electronic or other means and will be capable at all times of producing a hard copy of the Note Register at its Dallas office for use by the Issuer. Every Note surrendered for transfer or exchange shall be duly endorsed or be accompanied by a written instrument of transfer, the signature on which has been guaranteed by an officer of a federal or state bank or a member of the National Association of Notes Dealers, in form satisfactory to the Bank, duly executed by the Holder thereof or his agent duly authorized in writing. The Bank may request any supporting documentation it feels necessary to effect a re-registration, transfer or exchange of the Notes. To the extent possible and under reasonable circumstances, the Bank agrees that, in relation to an exchange or transfer of Notes, the exchange or transfer by the Holders thereof will be completed and new Notes delivered to the Holder or the assignee of the Holder in not more than three (3) business days after the receipt of the Notes to be cancelled in an exchange or transfer and the written instrument of transfer or request for exchange duly executed by the Holder, or his duly authorized agent, in form and manner satisfactory to the Paying Agent/Registrar. Section 4.02. Certificates. The Issuer shall provide an adequate inventory of printed Notes to facilitate transfers or exchanges thereof. The Bank covenants that the inventory of printed Notes will be kept in safekeeping pending their use and reasonable care will be exercised by the Bank in maintaining such Notes in safekeeping, which shall be not less than the care maintained by the Bank for debt securities of other governments or corporations for which it serves as registrar, or that is maintained for its own securities. Section 4.03. Form of Note Register. The Bank, as Registrar, will maintain the Note Register relating to the registration, payment, transfer and exchange of the Notes in accordance with the Bank's general practices and procedures in effect from time to time. The Bank shall not be obligated to maintain such Note Register in any form other than those which the Bank has currently available and currently utilizes at the time. The Note Register may be maintained in written form or in any other form capable of being converted into written form within a reasonable time. Section 4.04. List of Note Holders. The Bank will provide the Issuer at any time requested by the Issuer, upon payment of the required fee, a copy of the information contained in the Note Register. The Issuer may also inspect the information contained in the Note Register at any time the Bank is customarily open for business, provided that reasonable time is allowed the Bank to provide an up-to-date listing or to convert the information into written form. The Bank will not release or disclose the contents of the Note Register to any person other than to, or at the written request of, an authorized officer or employee of the Issuer, except upon receipt of a court order or as otherwise required by law. Upon receipt of a court order and -4- EXHIBIT A prior to the release or disclosure of the contents of the Note Register, the Bank will notify the Issuer so that the Issuer may contest the court order or such release or disclosure of the contents of the Note Register. Section 4.05. Return of Cancelled Certificates. The Bank will, at such reasonable intervals as it determines, surrender to the Issuer, Notes in lieu of which or in exchange for which other Notes have been issued, or which have been paid. Section 4.06. Mutilated, Destroyed, Lost or Stolen Securities. The Issuer hereby instructs the Bank, subject to the provisions of Section 11 of the Note Resolution, to deliver and issue Notes in exchange for or in lieu of mutilated, destroyed, lost, or stolen Notes as long as the same does not result in an overissuance. In case any Note shall be mutilated, or destroyed, lost or stolen, the Bank may execute and deliver a replacement Note of like form and tenor, and in the same denomination and bearing a number not contemporaneously outstanding, in exchange and substitution for such mutilated Note, or in lieu of and in substitution for such destroyed lost or stolen Note, only upon the approval of the Issuer and after (i) the filing by the Holder thereof with the Bank of evidence satisfactory to the Bank of the destruction, loss or theft of such Note, and of the authenticity of the ownership thereof and (ii) the furnishing to the Bank of indemnification in an amount satisfactory to hold the Issuer and the Bank harmless. All expenses and charges associated with such indemnity and with the preparation, execution and delivery of a replacement Note shall be borne by the Holder of the Note mutilated, or destroyed, lost or stolen. Section 4.07. Transaction Information to Issuer. The Bank will, within a reasonable time after receipt of written request from the Issuer, furnish the Issuer information as to the Notes it has paid pursuant to Section 3.01, Notes it has delivered upon the transfer or exchange of any Notes pursuant to Section 4.01, and Notes it has delivered in exchange for or in lieu of mutilated, destroyed, lost, or stolen Notes pursuant to Section 4.06. ARTICLE FIVE THE BANK Section 5.01. Duties of Bank The Bank undertakes to perform the duties set forth herein and agrees to use reasonable care in the performance thereof. Section 5.02. Reliance on Documents, Etc. (a) The Bank may conclusively rely, as to the truth of the statements and correctness of the opinions expressed therein, on certificates or opinions furnished to the Bank. (b) The Bank shall not be liable for any error of judgment made in good faith by a Responsible Officer, unless it shall be proved that the Bank was negligent in ascertaining the pertinent facts. (c) No provisions of this Agreement shall require the Bank to expend or risk its own funds or otherwise incur any financial liability for performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity satisfactory to it against such risks or liability is not assured to it. -5- HIBIT �► (d) The Bank may rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, note, security, or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties. Without limiting the generality of the foregoing statement, the Bank need not examine the ownership of any Notes, but is protected in acting upon receipt of Notes containing an endorsement or instruction of transfer or power of transfer which appears on its face to be signed by the Holder or an agent of the Holder. The Bank shall not be bound to make any investigation into the facts or matters stated in a resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, note, security, or other paper or document supplied by Issuer. (e) The Bank may consult with counsel, and the written advice of such counsel or any opinion of counsel shall be full and complete authorization and protection with respect to any action taken, suffered, or omitted by it hereunder in good faith and in reliance thereon. (f) The Bank may exercise any of the powers hereunder and perform any duties hereunder either directly or by or through agents or attorneys of the Bank. Section 5.03. Recitals of Issuer. The recitals contained herein with respect to the Issuer and in the Notes shall be taken as the statements of the Issuer, and the Bank assumes no responsibility for their correctness. The Bank shall in no event be liable to the Issuer, any Holder or Holders of any Note, or any other Person for any amount due on any Note from its own funds. Section 5.04. May Hold Notes. The Bank, in its individual or any other capacity, may become the owner or pledgee of Notes and may otherwise deal with the Issuer with the same rights it would have if it were not the Paying Agent/Registrar, or any other agent. Section 5.05. Moneys Held by Bank - Fiduciary Account/Collateralization. A fiduciary account shall at all times be kept and maintained by the Bank for the receipt, safekeeping and disbursement of moneys received from the Issuer hereunder for the payment of the Notes, and money deposited to the credit of such account until paid to the Holders of the Notes shall be continuously collateralized by securities or obligations which qualify and are eligible under both the laws of the State of Texas and the laws of the United States of America to secure and be pledged as collateral for fiduciary accounts to the extent such money is not insured by the Federal Deposit Insurance Corporation. Payments made from such fiduciary account shall be made by check drawn on such fiduciary account unless the owner of such Notes shall, at its own expense and risk, request such other medium of payment. The Bank shall be under no liability for interest on any money received by it hereunder. Subject to the applicable unclaimed property laws of the State of Texas, any money deposited with the Bank for the payment of the principal, premium (if any), or interest on any Note and remaining unclaimed for three years after final maturity of the Note has become due and payable will be paid by the Bank to the Issuer, and the Holder of such Note shall thereafter look only to the Issuer for payment thereof, and all liability of the Bank with respect to such moneys shall thereupon cease. Section 5.06. Indemnification. To the extent permitted by law, the Issuer agrees to indemnify the Bank for, and hold it harmless against, any loss, liability, or expense incurred -6- without negligence or bad faith on its part, arising out of or in connection with its acceptance or administration of its duties hereunder, including the cost and expense against any claim or liability in connection with the exercise or performance of any of its powers or duties under this Agreement. Section 5.07. Interpleader. The Issuer and the Bank agree that the Bank may seek adjudication of any adverse claim, demand, or controversy over its person as well as funds on deposit, in either a Federal or State District Court located in the State and County where either the Bank Office or the administrative offices of the Issuer is located, and agree that service of process by certified or registered mail, return receipt requested, to the address referred to in Section 6.03 of this Agreement shall constitute adequate service. The Issuer and the Bank further agree that the Bank has the right to file a Bill of Interpleader in any court of competent jurisdiction to determine the rights of any Person claiming any interest herein. Section 5.08. DT Services. It is hereby represented and warranted that, in the event the Notes are otherwise qualified and accepted for "Depository Trust Company" services or equivalent depository trust services by other organizations, the Bank has the capability and, to the extent within its control, will comply with the "Operational Arrangements", which establishes requirements for securities to be eligible for such type depository trust services, including, but not limited to, requirements for the timeliness of payments and funds availability, transfer turnaround time, and notification of redemptions and calls. ARTICLE SIX MISCELLANEOUS PROVISIONS Section 6.01. Amendment This Agreement may be amended only by an agreement in writing signed by both of the parties hereto. Section 6.02. Assignment. This Agreement may not be assigned by either party without the prior written consent of the other. Section 6.03. Notices. Any request, demand, authorization, direction, notice, consent, waiver, or other document provided or permitted hereby to be given or furnished to the Issuer or the Bank shall be mailed or delivered to the Issuer or the Bank, respectively, at the addresses shown on page 9. Section 6.04. Effect of Headings. The Article and Section headings herein are for convenience only and shall not affect the construction hereof. Section 6.05. Successors and Assigns. All covenants and agreements herein by the Issuer shall bind its successors and assigns, whether so expressed or not. . Section 6.06. Severability. In case any provision herein shall be invalid, illegal, or unenforceable, the validity, legality, and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. Section 6.07. Benefits of Agreement Nothing herein, express or implied, shall give to any Person, other than the parties hereto and their successors hereunder, any benefit or any legal or equitable right, remedy, or claim hereunder. -7- EXHIBIT A Section 6.08. Entire Agreement. This Agreement and the Note Resolution constitute the entire agreement between the parties hereto relative to the Bank acting as Paying Agent/Registrar and if any conflict exists between this Agreement and the Note Resolution, the Note Resolution shall govern. Section 6.09. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original and all of which shall constitute one and the same Agreement. Section 6.10. Termination. This Agreement will terminate (i) on the date of final payment of the principal of and interest on the Notes to the Holders thereof or (ii) may be earlier terminated by either party upon sixty (60) days written notice; provided, however, an early termination of this Agreement by either party shall not be effective until (a) a successor Paying Agent/Registrar has been appointed by the Issuer and such appointment accepted and (b) notice given to the Holders of the Notes of the appointment of a successor Paying Agent/Registrar. Furthermore, the Bank and Issuer mutually agree that the effective date of an early termination of this Agreement shall not occur at any time which would disrupt, delay or otherwise adversely affect the payment of the Notes. Upon an early termination of this Agreement, the Bank agrees to promptly transfer and deliver the Note Register (or a copy thereof), together with other pertinent books and records relating to the Notes, to the successor Paying Agent/Registrar designated and appointed by the • Issuer. The provisions of Section 1.02 and of Article Five shall survive and remain in full force and effect following the termination of this Agreement. Section 6.11. Governing Law. This Agreement shall be construed in accordance with and governed by the laws of the State of Texas. WWI A IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written. THE CHASE MANHATTAN BANK BY: Title: [SEAL] Address: 600 Travis, Suite 1150 Houston, Texas 77002 Attest: Title: CITY OF WYLIE, TEXAS BY: Mayor Address: 2000 Highway 78 North Wylie, Texas 75098 (CITY SEAL) Attest: City Secretary EXHIBIT Exhibit B to Ordinance DESCRIPTION OF ANNUAL FINANCIAL INFORMATION The following information is referred to in Section 29 of this Ordinance. Annual Financial Statements and Operating Data The financial information and operating data with respect to the City to be provided annually in accordance with such Section are as specified (and included in the Appendix or under the headings of the Official Statement referred to) below: 1. The financial statements of the City appended to the Official Statement as Appendix B, but for the most recently concluded fiscal year. 2. The information under Tables 1 through 6 and 8 through 13. Accounting Principles The accounting principles referred to in such Section are the generally accepted accounting principles as applicable to governmental units as prescribed by The Government Accounting Standards Board. 45077513.1 WYLIE CITY COUNCIL AGENDA ITEM NO. 6. September 25, 2001 Issue Consider and act upon appointing the "Task Force Advisory Committee" for the Parks and Recreation Open Space and Master Plan. Background In order to facilitate the Parks and Open Space Master Plan, the Plan consultants from Carter and Burgess have suggested a "Task Force Advisors Committee" be appointed that represents the various local special interest groups to assist with surveys and community input. The interest groups represented would consist of members/employees of the W.I.S.D., Corps of Engineers, City Council, Parks and Recreation Board members, sports associations, senior citizen representative and the Chamber of Commerce. The Carter and Burgess consultants also recommend that the committee consist of approximately ten members that would meet frequently with the consultants and City staff to review the progress and review the Master Plan findings and recommendations. Financial Considerations N/A Other Considerations N/A Board/Commission Recommendations N/A Staff Recommendations N/A Attachments N/A Prepared by Revie v.y Finance ity Man r Approval WYLIE CITY COUNCIL AGENDA ITEM NO. 4. September 25, 2001 Issue Consider and act upon approval for an Interlocal Agreement for Dispatch/Communications Services between the City of Murphy, Branch Fire Department and the City of Wylie. Background The city currently dispatches for the City of Murphy and the Branch Fire Department and each agency is billed on a per call basis which is billed quarterly. Over the past few years, the City of Wylie and it's sister cities have experienced significant growth. This growth has impacted our dispatch center with increased call loads and the need for additional personnel. Other Considerations ARTICLE II; SECTION 1-C of our City Charter states "The city shall have the power: To cooperate with the government of the United States or any agency thereof, the government of Texas or any agency thereof, or with the government of any county, city or political subdivision for any lawful purpose for the advancement of the interests, safety, convenience and welfare of its inhabitants." Financial Considerations Over the last year the Branch Fire Department has paid the City of Wylie approximately $5,500 and the City of Murphy has paid approximately $9,600 for dispatching services. Next year, the two cities will pay the City of Wylie approximately $30,000.00 which will cover the cost of an additional dispatcher. Board/Commission Recommendations N/A Staff Recommendation Staff recommends that Council approve the proposed Interlocal Agreement for Dispatch/Communications Center Services between the City of Wylie, the City of Murphy and the Branch Fire Department. Attachments Interlocal Agreement for Communication Center and Dispatch Services between the City of Wylie and the City of Murphy, and the Branch Fire Department. Chief Shan. A. English L Prepared by Revie d by Finance ity M n ger Approval INTERLOCAL AGREEMENT FOR COMMUNICATIONS CENTER AND DISPATCH SERVICE THIS AGREEMENT is by and between the CITY OF WYLIE, TEXAS, a municipal corporation, 2000 Highway 78 North, Wylie, Texas 75098 (hereinafter referred to as "WYLIE") and the CITY OF MURPHY, TEXAS (hereinafter referred to as "MURPHY"). WITNESSETH: WHEREAS, WYLIE deems establishment and development of a comprehensive Regional Public Safety and Public Service Communications and Dispatch Center a desirable objective; and, WHEREAS, WYLIE has in place a communication center equipped with radio, telephone, and data equipment and is designated as a 911 Emergency Communications Public Safety Answering Point (PSAP); AND, WHEREAS, WYLIE currently has equipment and operator availability above and beyond the immediate needs of WYLIE and available to address the regional communications/dispatch needs for the purpose of local government/agency communications, and, WHEREAS, WYLIE has determined it to be in the best interest of the public to share its communication facility, equipment and personnel capabilities with cities, towns, fire departments, emergency medical care providers and other governmental entities in order to facilitate more effective and efficient use of the communications center: and, WHEREAS, the Interlocal Cooperation Act, Article 4413(32c) Vernon's Annotated Civil Statutes provides the authority to political subdivisions for contracts by and between each other to facilitate the governmental functions and services of said political subdivisions under the terms of the Act; NOW, THEREFORE, in consideration of the above premises and the promises and agreements hereafter between set forth the parties hereby agree and covenant by and between themselves as follows: 1. WYLIE does hereby agree to provide on a non-exclusive basis, communication and dispatch services through its communications/dispatch center to MURPHY for the following emergencies: fire, medical, weather, hazardous materials and other general civil emergencies. 2. This Agreement and all privileges granted thereby shall be in full force and effect October 1, 2001 at 12:01 a.m through September 30, 2002 at 11:59 p.m. This contract will automatically renew each year thereafter. 3. This Agreement and all privileges may be canceled at any time after September 30, 2002 with a ninety (90) day written notice. 4. MURPHY shall bear, pay and discharge any and all obligations, costs, fees or expenses incurred by WYLIE or for its initial start-up and accessing of the communications/dispatch center including the costs of acquiring its required radio and/or telephone equipment. All such charges shall be paid directly by MURPHY and in no event shall any charges be made or accrued to WYLIE. 5. MURPHY shall indemnify and hold harmless WYLIE of and from any and all claims, suits, actions or judgements, including all expenses, attorney fees, witness fees, costs of defending any such action or claims, or appeals therefrom, or resulting from the negligence of MURPHY incident to use of said communications/dispatch center as a 911 PSAP. 6. WYLIE shall indemnify and hold MURPHY harmless of an from any and all claims, suits, actions or judgements, including all expenses, attorney fees, witness fees, costs of defending any such action or claims, or appeals therefrom, resulting the negligence of WYLIE incident to WYLIE's use of said communications/dispatch center or occurring on the premises where said communications/dispatch center is located. 7. It is the responsibility of MURPHY to ensure that its use of the communications/dispatch center conforms to all Federal Communications Commission rules and regulations. 8. WYLIE and MURPHY agree to provide complete and adequate ongoing training to personnel selected by MURPHY or WYLIE in the use of the communications/dispatch center. 9. It is specifically agreed and understood by the parties hereto that this agreement is permissive only and no property rights are granted hereunder. 10. MURPHY agrees to pay seven thousand five hundred ($7,500.00) dollars per quarter for use of the communications/dispatch center. 11. Payment for services are due quarterly whether or not an invoice is issued by WYLIE. The first quarterly payment is due January I, 2002 and remaining quarterly installments will be considered due every ninety days thereafter until this agreement has been cancelled in accordance with cancellation policies written within this agreement. 12. Failure to pay any service fees within thirty (30) days of the due date thereof may be considered sufficient reason to temporarily suspend services furnished by WYLIE under this agreement. If such suspension of services become necessary, WYLIE will furnish MURPHY notice of such suspension and the effective date and time thereof in accordance with the procedures for revocation of services stated herein above. 13. So that WYLIE and all entities or agencies participating in the regional communications/dispatch center may have projected cost estimates in advance of the normal municipal budgeting cycle, WYLIE shall evaluate and determine the estimated cost for participation for the next fiscal year with this estimate to include the annual service fees and rate increases, based on this annual review, shall be determined by WYLIE prior to September 1 of each year and shall be effective for services received after October 1, the beginning of a new fiscal year for WYLIE, of each year, WYLIE shall notify each participant in the regional communications/dispatch center of any rate increases for services performed or in the annual service fee by certified mail, mailed to the person designated in this agreement to receive such notices, mailed on or before September 1 of each year. 14. MURPHY shall pay all expenses for operation and maintenance of any equipment of facilities installed and operated at the regional communications/dispatch center for the use of MURPHY. Radio equipment transmitting on frequencies used by MURPHY or its service area, are examples of the types of equipment or facilities that fall into this category for determination of costs and who is responsible for payment of related expenses. 15. MURPHY'S rights under this agreement may not be assigned to its successors in interest without the written consent of WYLIE. 16. In the event MURPHY or WYLIE should fail to fulfill any of its obligations hereunder or shall violate any municipal, county, state or Federal law, either party to this agreement shall have the option of revoking this agreement by giving written notice of such violation and intent thirty (30) days in advance of the effective date of the termination. 17. Any notice, payment, statement, demand or correspondence required or permitted to be given hereunder by either party to the other may be effected by personal delivery in writing or by mail. Notices of rate adjustment, notice of termination of this agreement, and notices of address changes shall be delivered by certified mail. Mailed notices shall be addressed to the parties at the addresses appearing below, but each party may change its address by written notice in accordance with this section. Shan English Alan Palomba City of Wylie City of Murphy 2000 N. Hwy. 78 205 N. Murphy Rd. Wylie, TX 75098 Murphy, TX 75094 18. Correspondence, comments, requests, and complaints regarding services rendered under this agreement shall be reduced to writing and forwarded to the persons designated above. In no case shall any person make any complaint, request, comment or demand, other than those that would be considered normal business transactions under this paragraph 21 above. Failure to properly forward comments, requests, demands, and complaints may be considered as sufficient cause to revoke this agreement under the provision of paragraph 19 hereof. THE REMAINDER OF THE PAGE, INTENTIONALLY LEFT BLANK. 19. Unless otherwise designated in writing and made a part of this agreement, the persons designated in paragraph 17 above are hereby designated as the agent for the parties to this agreement and as such are designated and authorized to make decisions and determinations as may be authorized in this agreement or as may be necessary for the effective, efficient providing of service under this agreement. Such decisions, once made shall be final and binding under the terms of this agreement. IN WITNESS WHEREOF, the parties have executed this agreement on the dates set forth below. ATTEST: APPROVED: City Secretary Mayor, City of Wylie Date: Date: ATTEST: APPROVED: City Secretary Mayor, City of Murphy Date: Date: INTERLOCAL AGREEMENT FOR COMMUNICATIONS CENTER AND DISPATCH SERVICE THIS AGREEMENT is by and between the CITY OF WYLIE, TEXAS, a municipal corporation, 2000 Highway 78 North, Wylie, Texas 75098 (hereinafter referred to as "WYLIE") and the BRANCH FIRE DEPARTMENT, TEXAS (hereinafter referred to as "BRANCH"). WITNESSETH: WHEREAS, WYLIE deems establishment and development of a comprehensive Regional Public Safety and Public Service Communications and Dispatch Center a desirable objective; and, WHEREAS, WYLIE has in place a communication center equipped with radio, telephone, and data equipment and is designated as a 911 Emergency Communications Public Safety Answering Point (PSAP); AND, WHEREAS, WYLIE currently has equipment and operator availability above and beyond the immediate needs of WYLIE and available to address the regional communications/dispatch needs for the purpose of local government/agency communications; and, WHEREAS, WYLIE has determined it to be in the best interest of the public to share its communication facility, equipment and personnel capabilities with cities, towns, fire departments, emergency medical care providers and other governmental entities in order to facilitate more effective and efficient use of the communications center; and, WHEREAS, the Interlocal Cooperation Act, Article 4413(32c) Vernon's Annotated Civil Statutes provides the authority to political subdivisions for contracts by and between each other to facilitate the governmental functions and services of said political subdivisions under the terms of the Act; NOW, THEREFORE, in consideration of the above premises and the promises and agreements hereafter between set forth the parties hereby agree and covenant by and between themselves as follows: 1. WYLIE does hereby agree to provide on a non-exclusive basis, communication and dispatch services through its communications/dispatch center to BRANCH for the following emergencies: fire, medical, weather, hazardous materials and other general civil emergencies. 2. This Agreement and all privileges granted thereby shall be in full force and effect October 1, 2001 at 12:01 a.m through September 30, 2002 at 11:59 p.m. This contract will automatically renew each year thereafter. 3. This Agreement and all privileges may be canceled by either party at any time after September 30, 2002 with a ninety (90) day written notice. 4. BRANCH shall bear, pay and discharge any and all obligations, costs, fees or expenses incurred by WYLIE or for its initial start-up and accessing of the communications/dispatch center including the costs of acquiring its required radio and/or telephone equipment. All such charges shall be paid directly by BRANCH and in no event shall any charges be made or accrued to WYLIE. 5. BRANCH shall indemnify and hold harmless WYLIE of and from any and all claims, suits, actions or judgements, including all expenses, attorney fees, witness fees, costs of defending any such action or claims, or appeals therefrom, or resulting from the negligence of BRANCH incident to use of said communications/dispatch center as a 911 PSAP. 6. WYLIE shall indemnify and hold BRANCH harmless of an from any and all claims, suits, actions or judgements, including all expenses, attorney fees, witness fees, costs of defending any such action or claims, or appeals therefrom, resulting the negligence of WYLIE incident to WYLIE's use of said communications/dispatch center or occurring on the premises where said communications/dispatch center is located. 7. It is the responsibility of BRANCH to ensure that its use of the communications/dispatch center conforms to all Federal Communications Commission rules and regulations. 8. WYLIE and BRANCH agree to provide complete and adequate ongoing training to personnel selected by BRANCH or WYLIE in the use of the communications/dispatch center. 9. It is specifically agreed and understood by the parties hereto that this agreement is permissive only and no property rights are granted hereunder. 10. BRANCH agrees to pay one thousand eight hundred seventy-five ($1,875.00) dollars per quarter for use of the communications/dispatch center. 11. Payment for services are due quarterly whether or not an invoice is issued by WYLIE. The first quarterly payment is due October 1, 2001 and remaining quarterly installments will be considered due every ninety days thereafter until this agreement has been cancelled in accordance with cancellation policies written within this agreement. 12. Failure to pay any service fees within thirty(30) days of the due date thereof may be considered sufficient reason to temporarily suspend services furnished by WYLIE under this agreement. If such suspension of services become necessary, WYLIE will furnish BRANCH notice of such suspension and the effective date and time thereof in accordance with the procedures for revocation of services stated herein above. 13. So that WYLIE and all entities or agencies participating in the regional communications/dispatch center may have projected cost estimates in advance of the normal municipal budgeting cycle, WYLIE shall evaluate and determine the estimated cost for participation for the next fiscal year with this estimate to include the annual service fees and rate increases, based on this annual review, shall be determined by WYLIE prior to September 1 of each year and shall be effective for services received after October 1, the beginning of a new fiscal year for WYLIE, of each year, WYLIE shall notify each participant in the regional communications/dispatch center of any rate increases for services performed or in the annual service fee by certified mail, mailed to the person designated in this agreement to receive such notices, mailed on or before September 1 of each year. 14. BRANCH shall pay all expenses for operation and maintenance of any equipment of facilities installed and operated at the regional communications/dispatch center for the use of BRANCH. Radio equipment transmitting on frequencies used by BRANCH or its service area, are examples of the types of equipment or facilities that fall into this category for determination of costs and who is responsible for payment of related expenses. 15. BRANCH'S rights under this agreement may not be assigned to its successors in interest without the written consent of WYLIE. 16. In the event BRANCH or WYLIE should fail to fulfill any of its obligations hereunder or shall violate any municipal, county, state or Federal law, either party to this agreement shall have the option of revoking this agreement by giving written notice of such violation and intent thirty (30) days in advance of the effective date of the termination. 17. Any notice, payment, statement, demand or correspondence required or permitted to be given hereunder by either party to the other may be effected by personal delivery in writing or by mail. Notices of rate adjustment, notice of termination of this agreement, and notices of address changes shall be delivered by certified mail. Mailed notices shall be addressed to the parties at the addresses appearing below, but each party may change its address by written notice in accordance with this section. Shan English Jimmy Knipp City of Wylie Branch Fire Dept. 2000 N. Hwy. 78 P.O. Box 788 Wylie, TX 75098 Princeton, TX 75047 18. Correspondence, comments, requests, and complaints regarding services rendered under this agreement shall be reduced to writing and forwarded to the persons designated above. In no case shall any person make any complaint, request, comment or demand, other than those that would be considered normal business transactions under this paragraph 21 above. Failure to properly forward comments, requests, demands, and complaints may be considered as sufficient cause to revoke this agreement under the provision of paragraph 19 hereof. THE REMAINDER OF THIS PAGE, INTENTIONALLY LEFT BLANK. 19. Unless otherwise designated in writing and made a part of this agreement, the persons designated in paragraph 17 above are hereby designated as the agent for the parties to this agreement and as such are designated and authorized to make decisions and determinations as may be authorized in this agreement or as may be necessary for the effective, efficient providing of service under this agreement. Such decisions, once made shall be final and binding under the terms of this agreement. IN WITNESS WHEREOF, the parties have executed this agreement on the dates set forth below. ATTEST: APPROVED: City Secretary Mayor, City of Wylie Date: Date: ATTEST: APPROVED: City Secretary BRANCH FIRE DEPARTMENT Date: Date: WYLIE CITY COUNCIL AGENDA ITEM NO. 6. September 25, 2001 Issue Hold a Public Hearing to consider and act upon approval of a change in zoning from Agriculture (A) to Planned Development (PD) District for Single Family Residential uses, for a 41.743 acre tract of land, being part of a 28.5675 acre tract and all of a 27.4522 acre tract conveyed to Thomas Mannewitz by deed recorded in County Clerk's File Number 92-0064130 of the Deed Records of Collin County, Texas, being situated in the Moses Sparks Survey, Abstract No. 849, City of Wylie, Collin County, Texas. (Zoning Case No. 2001-10) Background The applicant is requesting rezoning of the subject property in order to develop a single-family residential subdivision. The subject property contains a total of 41.743 acres of land, and fronts a distance of approximately 1,075 feet along Lakefield Drive. The property is currently zoned Agriculture (A) and is occupied by several horse barns and open grazing area. The adjacent property to the west of the tract is zoned Planned Development District (PD 99-9) for Single-Family Residential uses and developing as the Sage Creek Addition with minimum lot sizes of 6,000 to 7,200 square feet. The property to the south across Lakefield Drive is zoned Planned Development District (PD 99-16) for Single-Family Residential uses and is developing as the Lakeside Estates Addition with lots of 6,000 to 7,200 square feet. The property to the east is zoned for Agriculture (A) and is undeveloped and occupied by a significant floodplain. The property to the north is zoned Agriculture (A) and undeveloped. Public Comment Forms were mailed to seventy (70) property owners within 200 feet of this request. Two Public Comment Forms have been returned, one AGAINST and one FAVORING the request. Financial Considerations Rezoning application fee - Paid Other Considerations 1. The Comprehensive Plan recommends Suburban Residential uses for this property. Suburban Residential is defined by the Plan as allowing single-family detached houses on lots ranging in size from a minimum area of 8,500 square feet to one acre. Dwellings should be within 3,000 feet walking distance of the retail/institutional Village Center and provided pedestrian linkages to it. According to the Future Land Use Map, the nearest retail Village Center to the property is to be located on F.M. 544 east of Springwell Parkway. The requested zoning is in compliance with the recommendations of the Comprehensive Plan. 2. However, the Zoning Ordinance classifies residential lots of 8,500 square feet as Village Residential Districts, which are intended to be located more immediately adjacent (within 1,300 feet) to the retail Village Centers. The Concept Plan of the proposed Planned Development District will locate the closest lots within 1,500 feet of the Village Center recommended on the Plan and this distance generally complies with these provisions of the Zoning Ordinance. Furthermore, lots will be connected to the public open space by streets and sidewalks and readily accessible by pedestrians, as encouraged by the point system of the Zoning Ordinance. 3. The proposal is consistent with existing development trends and the character of adjacent properties, which were established by Planned Development Districts approved by the Planning and Zoning Commission and City Council in 1999. 4. The Concept Plan of the proposed Planned Development District provides for rear alleys, curvilinear streets, entry features and medians and connection of lots to open space by sidewalks, as required by the Zoning Ordinance. 5. The Conditions of Development for the proposed Planned Development District provide that the Architectural Requirements of the Residential District Provisions and flexible point system of the Zoning Ordinance will be met. The PD Conditions also enforce the sixty (60) feet minimum lot width and one hundred (100) feet minimum lot depth required of the SF 8.5 District of the Ordinance. Membership will be mandatory in a Homeowners Association, and the HOA will maintain all open space and common landscaped areas. 6. The Conditions of the Planned Development District propose the following variances from the standard requirements of the Zoning Ordinance. a. The PD establishes the minimum lot size of 7,200 square feet, compared to the 8,500 square feet required by the Zoning Ordinance. The PD provides that the average lot size for all lots shall be 8,500 square feet, and that no more than 47 lots (33% of the total 144 lots) shall be less than 8,500 square feet with the remaining 97 (66%) being equal to or greater than 8,500 square feet. This minimum lot size rather than the average of the SF 8.5/17 District (the base district of the PD) is 8,500 square feet. b. The PD establishes the minimum width of five (5) feet for interior side yards and fifteen (15) feet for side yards adjacent to a street, compared to ten (10) feet for interior side yards and twenty-five (25) feet for side yards adjacent to streets required by the Zoning Ordinance. 7. The 144-lot development will be required to dedicate 2.16 acres of land or $72,000 cash or an equivalent combination thereof for public park purposes to directly serve the development, and floodplain can not be counted as parkland dedication. The proposal as submitted will dedicate approximately 0.69 acre of floodplain and an additional 0.079 acre of upland for public park purposes intended to provide access to a future trail system within the floodplain. The Park and Recreation Board reviewed the proposal at their August 20 meeting and recommended that additional upland (a single lot of approximately 0.2 acre) also be dedicated as public parkland. 8. The applicant is aware that the property must be platted and impact fees paid prior to initiation of development. Board/Commission Recommendation At the September 4, 2001 Planning and Zoning Commission meeting, the Board voted 3-1 to recommend approval of the zone change as requested. Staff Recommendation Approval of the Planned Development District as submitted. The request is consistent with the Comprehensive Plan and generally consistent with the residential requirements of the Zoning Ordinance. The Departments of Development Services, Public Works and Fire concur with this recommendation. Attachments Location Map Concept Plan Conditions of the Planned Development District Property Owner Notification List Response Forms and Map Ordinance Claude Thompson C • Prepared by Revi by Finance Ci YMana r Approval a _' // • I 1 1111111M ,�..■■..11,' - i -- — / ----- _ '' � w11111111/ r ' 4 t�_, M w1111111W i�,� f.f•' �, ! r 111,rr - NI-- -;.T..Wir.� ; Subject Lr _ � :: Aft _� Property r f - - MMIC hp WI 1111:1_,j i 11111ial ) i i i i i i i I I i i i I i . i • i _1 i i 77i i ! I i i I I i i I — __ - _ L_______j i I w I , i Ii ii T1-111 11 = I i 111111► I 111111111� = 1 )Iiu4 il11 In. = ----,A 1•!l All — �� ' / / 1 � �� 111111U111i1�._ 1 1 si� 11. -iv,,,,Ai,- i i .;..:! Hww =3 H 11v �� ri. � _ �///milli- . .:a._SIM . 11►./�I♦�i•�G 11111111 _ i ; --- . //111w ma, III♦ i.i..,_,.. w11 u _i4= '• �SO�-. Ifluir0 ra ill I , _� ci i ; i ' ti • 2IUIIIY, 'SE -- i i i ! , I li I i i , t ! i { i • I i { ! ! i i i i 1 t-- i i o t�` L }C � TION AP' ZONING CASE #2001 - 10 Exhibit "C" . . . t 1 Mil 1 151•111•0 ........k ,,.......... ..r.41.1.1•13 1.M1111M.t•1110.01101/611.1•1.11111111"."411.44•11111.•••••••1111.40111111Mil i...., : II:) . . . .. I t` E.: I : NORTH I . .. f , Jr ,.72-00 SF • .:. i 1 1 1 I II , R / : ,, ____ \ .., \ WOW MX,••Mt I I.•low. I I f AI urvilesi.g.-..,.. ,.. ; 1 4.-.;......; , • , ,\\\ (\NN). -.. . , \ - , I . . ir ii 1 • 2 - i ... .) ! !I\.... S /A_GE- .!. ; 1 . ; . . CREEK . -. , 1 I II ._,...• ! DATA SUMMARY: . - ..... I i •-.. LOTS LESS THAN 8500 SF 47 LOTS 6000 SF' . ..! , . LOTS EQUAL TO AND GREATER THAN 8500 SF 97 LOTS I , . I I AVERAGE LOT SIZE 8500 SF .• . • ; • 7.1 I i MINIMUM LOT SIZE 7200 SF 1Lit,—(j ; I ----:111----'--------"----------- -----____________ : .! I I i I I I I.i . , • I i . I • I i 1 MANNEWITZ PROPER . TY City of Wylie,Collin County,Texas ...- r ' . ' ' ' ' --1. r-------7..r.- . : . '. i - • ; ' i i ; i ; .;•,-, : . : : : • { .. I I 3:;1:::—..'"'- 1„ ,.... • _ LAKESIDE . ,. • -"•EO .--S• I A-7ES i,. ; 600C - SP ,. .f.. GSeptIem bero 27,2000 . Ca allwegone i -- -, ,.. . : .•. ---.....--•--- MOMS" •06“.srearcoot —..-.Vsld\02069901\gra\-6991cp08.dgn Aug. 28, 2001 16:42:42 Exhibit "B" CONDITIONS FOR PLANNED DEVELOPMENT DISTRICT ZONING CASE NO. 2001-10 MANNEWITZ TRACT Wylie, Texas General Conditions: 1. This Planned Development District shall not affect any regulation within the Code of Ordinances, except as specifically provided herein. 2. All regulations of SF-8.5 District set forth in Article 2, Section 3.3 A.3 of the Comprehensive Zoning Ordinance (adopted as of July 25, 2000) are included by reference and shall apply except as provided herein. Special Conditions: 1. The side yard setback shall be not less than six (6) feet or ten percent (10%) of the lot width at the building line, whichever is greater, not to exceed ten (10) feet, on each side. 2. A side yard adjacent to a street shall be not less than fifteen (15) feet. A side yard on key lots adjacent to a street shall be not less than twenty-five (25) feet. 3. Mandatory Homeowners Association 4. All open space and landscape to be maintained by the Homeowners Association. Landscaped entry feature with landscaped median. 5. Architectural point standards for SF-8.5 District Zoning will be met. 6. Minimum lot width of 60' at the building line. 7. Minimum lot depth of 100' for lots. 8. Average lot size for the overall tract will be approximately 8,500 square feet. 9. There will be no more than forty-seven (47) lots with a lot size less than 8.500 square feet. There will be no fewer than ninety-seven (97) lots with a minimum lot size greater than 8,500 square feet. No lot will be less than 7,200 square feet 10. An Amenity Center with pool and playground shall be required, and shall provide trail access to the flood plain. All required parking for the Amenity Center shall be on-site. NOTIFICATION REPORT APPLICANT: Skorburg Retail Corporation APPLICATION FILE #2001-10 3838 Oak Lawn,Suite 1212 Dallas, Texas 75219 # BLK/ABST LOT/TRACT TAX I.D. # PROPERTY OWNER NAME ADDRESS Sage Creek#V 3000 Candlebrook Drive 1 Blk C Lot 23 R-4530-00C-0230-1 Debbie Mertel Wylie, Texas 75098 Sage Creek#V 13800 Montfort Drive,Suite 100 2 Blk A Lot 23 R--4530-00A-0230-1 Ashton Custer LLC Dallas,Texas 75240-4344 Sage Creek#V 13800 Montfort Drive,Suite 100 3 'A 22 R-4530-00A-0220-1 Ashton Custer LLC Dallas,Texas 75240-4344 Sage Creek#V 204 Admiral Drive 4 Blk B Lot 44 R-4530-00B-0440-1 Malchl Ta Wylie,Texas 75098 Sage Creek#V 13800 Montfort Drive,Suite 100 5 B 43 R-4530-00B-0043-1 Ashton Custer LLC Dallas,Texas 75240-4344 Sage Creek#V 13800 Montfort Drive, Suite 100 6 B 42 R-4530-008-0042-1 Ashton Custer LLC Dallas,Texas 75240-4344 Sage Creek#V 13800 Montfort Drive,Suite 100 7 B 41 R-4530-00B-0041-1 Ashton Custer LLC Dallas,Texas 75240-4344 Sage Creek#V 13800 Montfort Drive, Suite 100 8 B 40 R-4530-00B-0040-1 Ashton Custer LLC Dallas,Texas 75240-4344 Sage Creek#VI+ 13800 Montfort Drive,Suite 100 9 B 39 R-4530-00B-0039-1 Ashton Custer LLC Dallas,Texas 75240-4344 Sage Creek#V 13800 Montfort Drive,Suite 100 10 B 38 R-4530-00B-0038-1 Ashton Custer LLC Dallas,Texas 75240-4344 Sage Creek#V 13800 Montfort Drive,Suite 100 11 B 37 R-4530-00B-0037-1 Ashton Custer LLC Dallas,Texas 75240-4344 Sage Creek#V 13800 Montfort Drive,Suite 100 12 B 36 R-4530-00B-0036-1 Ashton Custer LLC Dallas,Texas 75240-4344 Sage Creek#V ' 3001 Eagle Mountain Drive 13 B 35 R-4530-00B-0035-1 Jennifer Reid Wylie,Texas 75098 Sage Creek#V 13800 Montfort Drive,Suite 100 14 B 34 R-4530-00B-0034-1 Ashton Custer LLC Dallas,Texas 75240-4344 • Lakeside Estates#1 2904 Lakefield Drive 15 B 3 R-4246-00B-0030-1 Michael Light Wylie,Texas 75098 Lakeside Estates#1 2902 Lakefleld Drive 16 B 2 R-4246-00B-0020-1 Troy Martin Wylie,Texas 75098 Lakeside Estates#1 2900 Lakefleld Drive 17 B 1 R-4246-00B-0010-1 Bradley Thompson Wylie,Texas 75098 Lakeside Estates#1 2905 Lakefleld Drive 18 Bik H Lot 16 R-4246-00H-0160-1 Michael Cubbage 2903 Wylie,Lakefleld Drive Lakeside Estates#1 19 H 17 R-4246-00H-0170-1 Jane Long Wylie,Texas 75098 Lakeside Estates#1 2901 Lakefleld Drive 20 H 18 R-4246-00H-0180-1 Shelly Gibson Wylie,Texas 75098 Lakeside Estates#2 101 Cobblestone Drive 21 H 19 R-4531-00H-0190-1 Bruce Boyea Wylie,Texas 75098 Lakeside Estates#2 103 Cobblestone Drive Ile,Texas 75098 22 H 20 R-4531-00H-0200-1 Julie McIntosh 1101 Unix Bower Road,Suite 160 Lakeside Estates#2 23 BIk I Lot 6 R-4531-001-0060-1 Gehan Homes Ltd. Irving,Texas 75061-5852 Lakeside Estates#2 1101 Union Bower Road,Suite 160 24 I 5 R-4531-001-0050-1 Gehan Homes Ltd. Irving,Texas 75061-5852 Lakeside Estates#2 1101 Union Bower Road,Suite 160 25 I 4 R•4531.001.0040.1 Gehan Homes Ltd. Irving,Texas 75061-5852 Lakeside Estates #2 1101 Union Bower Road,Suite 160 26 I 3 R-4531-00I-0030-1 Gehan Homes Ltd. Irving,Texas 75061-5852 Lakeside Estates#2 1101 Union Bower Road,Suite 160 27 I 7 R-4531-001-0070-1 Gehan Homes Ltd. Irving,Texas 75061-5852 Lakeside Estates#2 1101 Union Bower Road,Suite 160 28 1 8 R-4531-00I-0080-1 Gehan Homes Ltd. Irving,Texas 75061-5852 Lakeside Estates#2 1101 Union Bower Road,Suite 160 29 I 9 R-4531-001-0090-1 Gehan Homes Ltd. Irving,Texas 75061-5852 Lakeside Estates#2 1101 Union Bower Road,Suite 160 R-4531-001-0100-1 Gehan Homes Ltd. Irving,Texas 75061-5852 30 I 10 1101 Union Bower Road,Suite 160 Lakeside Estates#2 Irvin Texas 75061-5852 31 I 11 R-4531-001-0110-1 Gehan Homes Ltd. 1101 Union Bower Road,Suite 160 Lakeside Estates#2 Irvin Texas 75061-5852 32 I 12 R-4531-00I-01 20-1 Gehan Homes Ltd. 1431 Greenway Drive,Suite 700 Lakeside Estates#2 Irvin Texas 75038-2484 33 I 13 R-4531-001-0130-1 Pulte Home Corporation 1431 Greenway Drive,Suite 700 Lakeside Estates#2 34 I 14 R-4531-001-0140-1 Pulte Home Corporation Irving,Texas 75038-2484 Lakeside Estates#'2 1431 Greenway Drive,Suite 700 35 I 15 R-4531-001-0150-1 Pulte Home Corporation Irving,Texas 75038-2484 Lakeside Estates#2 1431 Greenway Drive,Suite 700 36 I 16 R-4531-001-0160-1 Pulte Home Corporation Irving,Texas 75038-2484 2705 Lakefleld Drive Lakeside Estates#2- Ile,Texas 75098 37 I 17 R-4531-00I-0170-1 Joel Shapiro 2703 Lakefleld Drive Lakeside Estates#2 Ile,Texas 75098 38 I 18 R-4531-001-0180-1 Thomas Weimann 1431 Greenway Drive,Suite 700 Lakeside Estates#2 39 I 19 R-4531-00I-0190-1 Pulte Home Corporation Irvin1101 Union Texas Road, 484 160 4 'Lakeside Estates#2 Irvin Texas 75061-5852 40 I 20 R-4531-001-0200-1 Gehan Homes Ltd. 2607 Lakefleld Drive Lakeside Estates#2 Texas 75098 41 I 21 R-4531-001-0210-1 Bridgett Hanson Wylie, Lakeside Estates#2 1101 Union Bower Road,Suite 160 R-4531-001-0220-1 Gehan Homes Ltd. Irving,Texas 75061-5852 42 I 22 1101 Union Bower Road,Suite 160 Lakeside Estates#2 43 I 23 R-4531-001-0230-1 Gehan Homes Ltd. Irving,Texas 75061-5852 1101 Union Bower Road,Suite 160 Lakeside Estates#2 44 I 24 R-4531-001-0240-1 Gehan Homes Ltd. Irving,Texas 75061-5852 2600 Hillside Drive Lakeside Estates#2 Texas 75098 2602 45 I 25 R-4531-001-0250-1 Eduardo Bejar Hillside Drive Wylie, Lakeside Estates#2 Ile,Texas 75098 46 I 26 R-4531-00I-0260-1 Darlan Powell WY Lakeside Estates#2 1431 Greenway Drive,Suite 700 47 I 27 R-4531-00I-0270-1 Pulte Home Corporation Irving,Texas 75038-2484 Lakeside Estates#2 2606 Hillside Drive 48 I 28 R-4531-001-0280-1 Shelley Strawn Wylie,Texas 75098 Lakeside Estates#2 1101 Union Bower Road,Suite 160 49 I 29 R-4531-00I-0290-1 Gehan Homes Ltd. Irving,Texas 75061-5852 Lakeside Estates#2 1101 Union Bower Road,Suite 160 50 I 30 R-4531-001-0300-1 Gehan Homes Ltd. Irving,Texas 75061-5852 Lakeside Estates#2 1101 Union Bower Road,Suite 160 51 I 31 R-4531-00I-0310-1 Gehan Homes Ltd. IrvIng,Texas 75061-5852 Lakeside Estates#2 1101 Union Bower Road,Suite 160 52 I 32 R-4531-00I-0320-1 Gehan Homes Ltd. Irving,Texas 75061-5852 Lakeside Estates#2 2706 Hillside Drive 53 I 33 R-4531-001-0330-1 Christopher Gonzales Wylie,Texas 75098 Lakeside Estates#2 1431 Greenway Drive,Suite 700 54 I 34 R-4531-001-0340-1 Pulte Home Corporation Irving,Texas 75038-2484 Lakeside Estates#2 1431 Greenway Drive,Suite 700 55 I 35 R-4531-001-0350-1 Pulte Home Corporation Irving,Texas 75038-2484 Lakeside Estates#2 2800 Hillside Drive 56 I 36 R-4531-00I-0360-1 Brandon Dry Wylie,Texas 75098 Lakeside Estates#2 2802 Hillside Drive 57 I 37 R-4531-00I-0370-1 Kell]McClure Mike.e. TX 15O1 g Lakeside Estates#2 1431 Greenway Drive,Suite 700 58 I 38 R-4531-001-0380-1 Pulte Home Corporation Irving,Texas 75038-2484 Lakeside Estates#2 2806 Hillside Drive 59 I 39 1 R-4531-001-0390-1 Lance Wilson Wylie,Texas 75098 Lakeside Estates 02 1101 Union Bower Road,Suite 160 60 BIk M Lot 1 R-4531-00M-0010-1 Gehan Homes Ltd. Irving,Texas 75061-5852 Lakeside Estates#2 1101 Union Bower Road,Suite 160 61 M 2 R-4531-00M-0020-1 Gehan Homes Ltd. Irving,Texas 75061-5852 Lakeside Estates#2. 1101 Union Bower Road,Suite 160 62 M 3 R-4531-00M-0030-1 Gehan Homes Ltd. Irving,Texas 75061-5852 Applicant 3838 Oak Lawn,Suite 1212 63 Skorburg Retail Corporation Dallas,Texas 75219 1717 S.Jupiter Road 64 Abst.849 Tract 17 R-6849-000-0170-1 Thomas Mannewltz Garland,Texas 75042-7719 1717 S.Jupiter Road 65 Abst.849 Tract 20 R-6849-000-0200-1 Thomas Mannewltz Garland,Texas 75042-7719 P.O.Box 835 66 Abst.849 Tract 16 R-6849-000-0160-1 Ronnie Housewrlght Wylie,Texas 75098 2615 Brlarcove Drive 67 Abst.849 Tract 21 R-6849-000-0210-1 Paul Taylor Plano,Texas 75074 2825 W.FM 544 68 Abst.849 Tract 22 R-6849-000-0220-1 Patrice Lemmon Wylie,Texas 75098 13800 Montfort Drive,Suite 100 69 Abst.849 Tract 10 R-6849-000-0100-1 Ashton Custer LLC Dallas,Texas 75240-4344 13800 Montfort Drive,Suite 100 70 Abst.849 Tract 11 R-6849-000-0110-1 Ashton Custer LLC Dallas,Texas 75240-4344 PUBLIC COMMENT FORM (Please type or use black ink) Department of Planning 2000 Highway 78 North Wylie,Texas 75098 �1 am FOR the requested zoning as explained on the attached public notice for Zoning Case #2001-10. 1 am AGAINST the requested zoning as explained on the attached public notice for Zoning Case#2001-10. Date, Location &Time of Planning&Zoning Commission meeting: Tuesday, September 4, 2001,7:00 pm Municipal Complex,2000 Highway 78 North,Wylie,Texas Date, Location&Time of City Council meeting: Tuesday, September 25,2001,6:00 pm Municipal Complex,2000 Highway 78 North, Wylie,Texas Name: Pe,,--cia. 6..- 4 lam] (,lease print) Address: .q/e 5;.(e. iS/ /' dr 4 Signature: Date: d -- / el COMMENTS: PUBLIC COMMENT FORM (Please type or use black ink) Department of Planning 2000 Highway 78 North Wylie,Texas 75098 I am FOR the requested zoning as explained on the attached public notice for Zoning Case #2001-10. 1 am AGAINST the requested zoning as explained on the attached public notice for Zoning Case#2001-10. Date, Location&Time of Planning&Zoning Commission meeting: Tuesday, September 4, 2001,7:00 pm Municipal Complex,2000 Highway 78 North, Wylie,Texas Date, Location&Time of City Council meeting: Tuesday, September 25,2001,6:00 pm Municipal Complex,2000 Highway 78 North, Wylie,Texas Name: `J/1� �ti�' /1,1 (please print) ' Address: (I 6,13 \ l��(��, b��L" ! W_ V. Signature: `tea Its rY> L Date: I� � C 7/7 COMMENT 44/)? 764 74/D/ MiLe ( ` L' i i i it sk or► Cus1 r Lid. R-6g4i -oao-olio-t i.--; R. 14ousewr igit i g- 68lict -am- ot6o- I T: 1 newti2. -T: Marinewi �.68� _ 000-- r - 6°0-000-ot7o- t / otlo1 T-TT. -T, - --. 0, ..... 7,. .._.._. _____________.. & Miro- P. Taylor oil' — _ 68U' -000- 0200- t R-69W oQ o-- , ` IRIIii . Jillil45 P r g.(oQW 000• i 111111 i,!, ! q 0FOR{t i 12 flhIIt ' 13 i 414 ti 7111-1DIAL* � 23 alI pi iry1 INILI�IAI � � I \ til �� o��a / � i H i l l 1 1 1 i t ® 2 . �m � 6 � � � ' l to t-- D��,,�,,�� ° 7 / v, '�/ �°` `e.: �e y(`,J:,1;yti,y\I oo q',a4:�A a`0 �`, r inside Dive { , . .______ ____n ! -J. /; " 1. - C C Ae J toot - 10 t" = 31•201 ORDINANCE NO. AN ORDINANCE OF THE CITY OF WYLIE, TEXAS, AMENDING THE COMPREHENSIVE ZONING ORDINANCE OF THE CITY OF WYLIE, AS HERETOFORE AMENDED, SO AS TO CHANGE THE ZONING ON THE HEREINAFTER DESCRIBED PROPERTY, ZONING CASE NUMBER 2001-10, TO PLANNED DEVELOPMENT (PD) DISTRICT CLASSIFICATION; PROVIDING FOR THE REPEAL OF ALL ORDINANCES IN CONFLICT; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the Planning and Zoning Commission and the governing body of the City of Wylie, Texas, in compliance with the laws of the State of Texas with reference to the amendment of the Comprehensive Zoning Ordinance, have given the requisite notices by publication and otherwise, and after holding due hearings and affording a full and fair hearing to all property owners generally and to owners of the affected property, the governing body of the City is of the opinion and finds that the Comprehensive Zoning Ordinance and Map should be amended; NOW, THEREFORE BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF WYLIE, TEXAS: SECTION 1. That the Comprehensive Zoning Ordinance of the City of Wylie, Texas, be, and the same is hereby, amended by amending the Zoning Map of the City of Wylie, to give the hereinafter described property a new zoning classification of Planned Development (PD) District Classification, said property being described in Exhibit "A" attached hereto and made a part hereof for all purposes. SECTION 2. That all ordinances of the City in conflict with the provisions of this ordinance be, and the same are hereby, repealed and all other ordinances of the City not in conflict with the provisions of this ordinance shall remain in full force and effect. SECTION 3. That the above described property shall be used only in the manner and for the purposes provided for in the Comprehensive Zoning Ordinance of the City, as amended herein by the granting of this zoning classification. SECTION 4. Any person, firm or corporation violating any of the provisions of this ordinance or the Comprehensive Zoning Ordinance, as amended hereby, commits an unlawful act and shall be subject to the general penalty provisions of Section 38 of the Zoning Ordinance, as the same now exists or is hereafter amended. SECTION 5. Should any paragraph, sentence, 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 so declared to be invalid, illegal or unconstitutional, and shall not affect the validity of the Comprehensive Zoning Ordinance as a whole. SECTION 6. This ordinance shall be in full force and effect from and after its adoption by the City Council and publication of its caption as the law and the City Charter provide in such cases. SECTION 7. The repeal of any ordinance, or parts thereof, by the enactment of this Ordinance, shall not be construed as abandoning any action now pending under or by virtue of such ordinance; nor shall it have the effect of discontinuing, abating, modifying or altering any penalty accruing or to accrue, nor as effecting any rights of the municipality under any section or provisions of any ordinances at the time of passage of this ordinance. DULY PASSED AND APPROVED by the City Council of the City of Wylie, Texas, this day of , 2001. By John Mondy, Mayor ATTEST: Barbara Salinas, City Secretary Exhibit "A" Property Description ZC #2001-10 Being a tract of land situated in the Moses Sparks Survey, Abstract No. 849, Collin County, Texas and being part of a 28.5675 acre tract of land and all of a 27.4522 tract of land conveyed to Thomas Mannewitz by deed recorded under County Clerk's File Number 92-0064130, Deed Records, Collin County, Texas, and being more particularly described as follows: Beginning at a capped 5/8" iron rod set on the east line of Lakeside Estates Phase I, an Addition to the City of Wylie, Collin County, Texas, according to the plat thereof recorded in Cabinet L, Slide 523, Map Records, Collin County, Texas for the southwest corner of aforesaid 27.4522 acre tract and the northwest corner of Lakeside Estates Phase II, an Addition to the City of Wylie, Collin County, Texas, according to the plat thereof recorded in Cabinet N, Slide 41, Map Records, Collin County, Texas; Thence, North 00°24'00" West, along the west line of said 27.4.522 acre tract, the east line of said Lakeside Estates Phase I, the east line of Sage Creek Phase V, an Addition to the City of Wylie, Collin County, Texas, according to the plat thereof recorded in Cabinet M, Slide 135, Map Records, Collin County, Texas and the east line of a tract of land conveyed to Ashton Custer L.L.C. by deed recorded under County Clerk's File Number 98-0008878, Deed Records, Collin County, Texas, a distance of 1113.43 feet to a capped iron rod found for the northwest corner of said 27.4522 acre tract and the southwest corner of said 28.5675 acre tract; Thence, North 01°23'10" West, along the west line of said 28.5675 acre tract and the east line of said Sage Creek Phase V, a distance of 196.50 feet to a 5/8" iron rod found for a re-entrant corner of said Custer tract and a northwest corner of said 28.567.5 acre tract; Thence, South 88°00'00" East, along a south line of said Custer tract and a north line of said 28.5675 acre tract, a distance of 99.00 feet to a capped 5/8" iron rod set for a southeast corner of said Custer tract and a re-entrant corner of said 28.5675 acre tract; Thence, North 00°15'00" West, along an east line of said Custer tract and a west line of said 28.5675 acre tract, a distance of 395.18 feet to a capped 5/8" iron rod set for the southwest corner of a 29 acre tract of land conveyed to Ronnie Joe Housewright by deed recorded in Volume 2967, Page 281, Deed Records, Collin County. Texas and the northwest corner of said 28.5675 acre tract; Thence North 89°45'00" East, along the north line of said 28.5675 acre tract and the south line of said 29 acre tract, a distance of 1105.95 feet to a capped 5/8" iron rod set for corner; Thence, South 07°47'16" West, a distance of 146.59 feet to a capped 5/8" iron rod set for corner; Thence, South 35°24'34" West, a distance of 175.22 feet to a capped 5/8" iron rod set for corner; Thence, South 00°04'26" East, a distance of 191.56 feet to a capped 5/8" iron rod set for corner; Thence, South 00°28'22" East, a distance of 112.81 feet to a metal fence post on the south line of said 28.5675 acre tract for the northeast corner of said 27.4522 acre tract and the northwest corner of a 27.44 acre tract of land conveyed to Paul Taylor by deed recorded in Volume 645, Page 470, Deed Records, Collin County, Texas, Thence, South 00°13'42" East, along the east line of said 27.4522 acre tract, the west line of said 27.44 acre tract and the west line of a 5.00 acre tract of land conveyed to Calvin E. Lemmon by deed recorded in Volume 864, Page 279, Deed Records, Collin County, Texas, a distance of 1108.22 feet to a capped 5/8" iron rod set for the southeast corner of said 27.4522 acre tract and the southwest corner of said 5.00 acre tract and being on the north line of said Lakeside Estates Phase II; Thence, South 89°41'35" West, along the south line of said 27.4522 acre tract and the north line of said Lakeside Estates Phase II, a distance of 1074.85 feet to the Point of Beginning and containing 1,818,329 square feet or 41.743 acres of land. WYLIE CITY COUNCIL AGENDA ITEM NO. 6. September 25, 2001 Issue Hold a Public Hearing to consider and act upon approval of a change in zoning from Agriculture(A) to Single Family Residential-8.5 (SF-8.5/I 7) uses, being a 95.41 acre tract of land as described in a deed from Lottie Stone recorded in Volume 426, Page 486 of the Collin County Deed Records, being situated in the D.W. Williams Survey, Abstract No. 980, City of Wylie, Collin County, Texas. (Zoning Case No. 2001-11) Background The subject property was annexed into the City of Wylie on July 24, 2001. The applicant is requesting the rezoning in order to develop a single-family residential subdivision. The tract totals 29.8629 acres in size, it is not platted and is zoned Agriculture (A). It fronts approximately 925 feet along Elm Street (C.R. 381). The adjacent property to the east is undeveloped and currently used for agricultural crops, but is zoned Business-2 (B-2), Multi-Family Residential (MF) and Single-Family-3 Residential (SF-3). The property to the west and north is not within the City of Wylie but is rather within unincorporated Collin County, and is occupied by scattered rural/suburban housing or used for field crops. The properties to the south, across Elm Street, are within unincorporated Collin County and are developed with rural lots and dwellings. Public Comment Forms were mailed to five (5) property owners within 200 feet of this request. One Public Comment Form has been returned, FAVORING the proposed rezoning. Financial Considerations Rezoning application fee - Paid Other Considerations 1. The Comprehensive Plan recommends Country Residential uses for the subject property. The Plan defines the Country Residential land use category as detached residences of one acre minimum lot size or a maximum density of 0.75 dwelling units per acre, on rural roadways with no curbs/gutters or sidewalks. The proposed zoning is not consistent with this recommendation of the Plan. 2. The subject property abuts unincorporated Collin County on three sides, lands not subject to City of Wylie development regulations. The tract is approximately 425 feet east of Ballard Street and 310 feet south of the Twin Lakes Addition (zoned SF-2 and developed with 8,500 square feet lots). Although no plans have been announced for the future use of these neighboring properties, this surrounding unincorporated land is of sufficient depth and character to support the larger lots of the Country Residential uses recommended by the Comprehensive Plan. 3. The requested Single-Family — 8.5/17 Residential District allows lots of 8,500 square feet minimum size, the smallest detached lot size allowed by the current Zoning Ordinance. This classification is included in the highest-density Village Center Districts, intended to be developed within close walking distance of the neighborhood retail services. The subject property adjoins on its east lands that are currently zoned for such a Village Center, allowing high-intensity commercial (Business-2), more than 8 acres for Multi-Family Residential (MF, apartments) and approximately 33 acres of Single-Family-3 Residential (7,200 square feet lots). These adjacent properties are owned by the applicant of the subject property and rezoning request, and could be developed immediately under these older Zoning Classifications and codes with the only additional City control being the required review of the site plans for the retail and apartments. 4. The Comprehensive Plan also recommends a new Lake Shore Drive, a loop system around the eastern portion of the City to reinforce the downtown core and lake-oriented developments. Elm Street and Ballard Street are anticipated as links of this major six-lane divided thoroughfare network. If developed as envisioned, Elm Street (only access to the subject property) will not provide the rural character anticipated by the Country Residential classification of the Comprehensive Plan. 5. Because of its location and scale as well as the potential for coordinated development, the subject tract can serve to encourage the surrounding areas to develop either as lower-density Suburban or Country Residential or as a medium-density Village Center neighborhood. 6. The property must be platted prior to the issuance of any building permits, and impact fees must be paid prior to the filing of a Final Plat. Board/Commission Recommendation At the September 4, 2001 Planning and Zoning Commission meeting, the Board voted 4-0 to recommend approval of the zone change as requested. Staff Recommendation Approval. Guided by the coordinated planning and development of single-ownership, the subject tract in concert with the adjoining property to the east can both create a Village Center as envisioned by the Comprehensive Plan and still satisfy somewhat the larger lots and lower densities envisioned by the Zoning Ordinance. The Departments of Development Services, Public Works, and Fire concur with this recommendation. Attachments Location Map Property Owner Notification List Response Forms and Map Ordinance JOClaude Thompson Prepared by -�evie (�by Finance City Man r Approval --T r 111.41.1[:: . -.di Illk—Ehidiak? • ; I I_ I I _ 4 f 4 i L7.11E-111.9"VrATO fr. V g 1 }-- ��.�, -.., Subject sI 4 �; r -t Property ( 1 ‘ 1I 1 I I �I I r , ' Hill - ) ,1 ' Hil C L \ r rrrr fr_ t i .aI . !.i - _ E i ' = /111111111 i Mil El Ii n - om- - \\ :/ , j '"lil!41111 . t- -i L_ J i i itiii r- - IU I I lillii jCi11 I Li I I I f Coil L . 111111 , , , 'f ; i 1 1 i � ; � � 11111 _ _ i ; li --1 .--1_ rJIIIli ( I iri —V' T 1 I . l V.i i iLI i �. IIV \ \ i i i I i ��a i i �� 3 i L_J \ I -\ \ --- I • CATION MAP ZONING CASE #2001 - 11 NOTIFICATION REPORT APPLICANT: S.C. Parsons, Inc. APPLICATION FILE #2001-11 16810 Deer Park Drive Dallas, Texas 75248 # BLK/ABST LOT/TRACT TAX I.D. # PROPERTY OWNER NAME ADDRESS Applicant 16810 Deer Park Drive 1 S.C. Parsons, Inc. Dallas,Texas 75248 16810 Deer Park Drive 2 Abst. 23 Tract 40 R-6023-000-0400-1 S.C. Parsons, Inc. Dallas,Texas 75248 16810 Deer Park Drive 3 Abst. 980 Tract 13 R-6980-000-0130-1 S.C. Parsons, Inc. Dallas,Texas 75248 16810 Deer Park Drive 4 Abst. 980 Tract 14 R-6980-000-0140-1 S.C. Parsons, Inc. Dallas,Texas 75248 1717 Robin Lane 5 Abst. 980 Tract 15 R-6980-000-0150-1 Verna Poor Garland,Texas 75042-8231 6 7 8 9 10 11 12 13 14 15 16 17 (Please type or use black ink) Department of Planning 2000 Highway 78 North Wylie,Texas 75098 1 am FOR the requested zoning as explained on the attached public notice for Zoning Case #2001-I 1. I am AGAINST the requested zoning as explained on the attached public notice for Zoning Case#2001-11. Date,Location &Time of Planning&Zoning Commission meeting: Tuesday,September 4, 2001,7:00 pm Municipal Complex,2000 Highway 78 North,Wylie,Texas Date, Location&Time of City Council meeting: Tuesday, September 25,2001,6:00 pm Municipal Complex,2000 Highway 78 North,Wylie,Texas Name: s• e• PRRsol,/S/ 1 NC . (please print) //�� Address: /(8/O 1)EEle- P4RKK UR . baccs, 9 . -75--,7 IS2 Signature: '--S/d11:-A—' AIMEs/pEltr Date: S2 " /Q - 0 / COMMENTS: 7W/5 P/€opZleTY Rd Tv/, is M y 3 2 RCREs wkicte , s zo,vEO .sF3 /'7F 4- eoMME,ec/414 L ( o c b C i/l,E, -rn s E c. T//i s teue.64 L,E✓ec o/°F4 /AiTo , s/NGCE._ FRM/L Y REs/ QEliT/fit U E V,EC o P/7 T. SF. 8.5 w o t 6 j . L R R G ER -07,11,J 7 /L Lx's7-/A/ 6 zoN/MG otv MY PoP,f,erV RAID 2— w o ve b EC R GR/A/s T fl xl y-r#/ /G ?E'Qv,R/A/G lors LR,eGE/ 7-1-MA/ & ow,p v,(Dlsk. SF•8 S l I II I I 1 IL—J I MaII I I II IIrL II I=1 I I I I 1 I I i I ! 1 1 ; , I R-�o23-000 - oc�oo-/ i i SC Parsons, Inc. i_.._.._.. - �jor 1N CITY .._____ ________ R-cggo-OoV - 0160- I 12-4ggb- coo- 0130-I \/ .rrWi Poor SC Prsohs, Inc. Ill-1 Robi vt Ln. Gar lord 1So4-1,2 ' `-. ‘-. 12-,Rgo-coo-oic1-o-1 v S G Parsons, In6. X MAJtJET o 4 O FOK 2 i I i f.ltic--o ci Ty :1 i . i-..---- a a i i i ., i i i i i i i. . i i -.., i i ZC '27OI- II ( � = Sao' ORDINANCE NO. AN ORDINANCE OF THE CITY OF WYLIE, TEXAS, AMENDING THE COMPREHENSIVE ZONING ORDINANCE OF THE CITY OF WYLIE, AS HERETOFORE AMENDED, SO AS TO CHANGE THE ZONING ON THE HEREINAFTER DESCRIBED PROPERTY, ZONING CASE NUMBER 2001-11, TO SINGLE FAMILY RESIDENTIAL-8.5 (SF-8.5/17) DISTRICT CLASSIFICATION; PROVIDING FOR THE REPEAL OF ALL ORDINANCES IN CONFLICT; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the Planning and Zoning Commission and the governing body of the City of Wylie, Texas, in compliance with the laws of the State of Texas with reference to the amendment of the Comprehensive Zoning Ordinance, have given the requisite notices by publication and otherwise, and after holding due hearings and affording a full and fair hearing to all property owners generally and to owners of the affected property, the governing body of the City is of the opinion and finds that the Comprehensive Zoning Ordinance and Map should be amended; NOW, THEREFORE BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF WYLIE, TEXAS: SECTION 1. That the Comprehensive Zoning Ordinance of the City of Wylie, Texas, be, and the same is hereby, amended by amending the Zoning Map of the City of Wylie, to give the hereinafter described property a new zoning classification of Single Family Residential-8.5 (SF-8.5/17) District Classification, said property being described in Exhibit "A" attached hereto and made a part hereof for all purposes. SECTION 2. That all ordinances of the City in conflict with the provisions of this ordinance be, and the same are hereby, repealed and all other ordinances of the City not in conflict with the provisions of this ordinance shall remain in full force and effect. SECTION 3. That the above described property shall be used only in the manner and for the purposes provided for in the Comprehensive Zoning Ordinance of the City, as amended herein by the granting of this zoning classification. SECTION 4. Any person, firm or corporation violating any of the provisions of this ordinance or the Comprehensive Zoning Ordinance, as amended hereby, commits an unlawful act and shall be subject to the general penalty provisions of Section 38 of the Zoning Ordinance, as the same now exists or is hereafter amended. SECTION 5. Should any paragraph, sentence, 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 so declared to be invalid, illegal or unconstitutional, and shall not affect the validity of the Comprehensive Zoning Ordinance as a whole. SECTION 6. This ordinance shall be in full force and effect from and after its adoption by the City Council and publication of its caption as the law and the City Charter provide in such cases. SECTION 7. The repeal of any ordinance, or parts thereof, by the enactment of this Ordinance, shall not be construed as abandoning any action now pending under or by virtue of such ordinance; nor shall it have the effect of discontinuing, abating, modifying or altering any penalty accruing or to accrue, nor as effecting any rights of the municipality under any section or provisions of any ordinances at the time of passage of this ordinance. DULY PASSED AND APPROVED by the City Council of the City of Wylie, Texas, this day of , 2001. By John Mondy, Mayor ATTEST: Barbara Salinas, City Secretary Exhibit "A" Property Description ZC #2001-l 1 Situated in Collin County, Texas, a part of the D.W. Williams Survey, Abstract No. 980 and being a part of a 95.41 acre tract as described in a deed from Lottie Stone, a widow to Walter P. Poor recorded in Volume 426, Page 486 of the Collin County Deed Records, and being more fully described as follows: Beginning at an iron stake in the northwest corner of the said tract; Thence, South 00 deg. 45 min. 00 sec. West with the west line of the said tract, a distance of 1214.13 feet to an iron stake in the center of County Road No. 381; Thence, North 89 deg. 33 min. 00 sec. East with the center of the said road, a distance of 418.14 feet to a 60d Nail set; Thence, South 89 deg. 55 min. 06 sec. East with the center of the said road, a distance of 702.14 feet to a 60d Nail set in an inner corner of the said 95.41 acre tract; Thence, North 00 deg. 07 min. 39 sec. West with an east line of the said tract, a distance of 1208.05 feet to an iron stake in the most northerly northeast corner of the said tract; Thence, North 89 deg. 48 min. 29 sec. West with the north line of the said tract, a distance of 1101.69 feet to the Place of Beginning and containing 30.856 acres of land. WYLIE CITY COUNCIL AGENDA ITEM NO. 1(. September 25, 2001 Issue Consider and act upon approving a Resolution to nominate a member of the Board of Directors of the Central Appraisal District. Background The City of Wylie has 28 votes that may be cast for the Board of Directors of the Central Appraisal District. This is the first step of the appointment process in which nominations are accepted. Within the next month, the Appraisal District will inform the voting entities within the county of the names of the nominees. At that time, Council will be asked to approve a resolution stating how they wish the 28 votes to be distributed. Staff contacted the Wylie Independent School District regarding possible names for nominees. The District indicated that they were not going to nominate anyone, but would wait and vote on the names that are nominated by other entities. Other Considerations N/A Financial Consideration N/A Board/Commission Recommendations N/A Staff Recommendations N/A Attachments Resolution Letter from Central Appraisal District of Collin County Enclosure to Correspondence with Appraisal District - Board Qualifications Mindy Manson Prepared by Revi ed by Financ ity Ma er Approval RESOLUTION NO. A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WYLIE, COLLIN COUNTY TEXAS, CASTING BALLOTS FOR THE BOARD OF DIRECTORS FOR THE CENTRAL APPRAISAL DISTRICT OF COLLIN COUNTY IN ACCORDANCE WITH SECTION 6.03 (G) OF THE STATE PROPERTY TAX CODE, AND DIRECTING THAT THE CITY SECRETARY NOTIFY INTERESTED PARTIES OF SAID ACTION. WHEREAS, the Wylie City Council is required by the State Property Tax Code to cast votes for the Board of Directors of the Central Appraisal District; and WHEREAS, said votes must be cast no later October 15, 2001, and NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WYLIE, COLLIN COUNTY, TEXAS THAT: SECTION 1: The Wylie City Council casts votes for to become a member of the Central Appraisal District for Collin County Board of Directors. SECTION 2: The City Secretary is hereby directed to notify all appropriate parties of this action. DULY PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF WYLIE, COLLIN COUNTY, TEXAS, ON THIS 25TH DAY OF SEPTEMBER, 2001. APPROVED: John Mondy, Mayor ATTEST: Barbara Salinas, City Secretary mar � CENTRAL APPRAISAL DISTRICT OF COLLIN COUNTY August 15, 2001 Anthony Johnson, City Manager City of Wylie 2000 State Highway 78 North Wylie, TX 75098 RE: Election of Central Appraisal District of Collin County Board of Directors. Dear Mr. Johnson: Please be advised that the City of Wylie will have 28 votes to cast in the election of the Board of Directors for the Central Appraisal District of Collin County. The terms will be for two years beginning January 1 , 2002. Each voting unit may nominate from one to five candidates. Nominations must be made in an open meeting. A written resolution from the presiding officer should include the name and address of each candidate nominated. The resolution must be delivered to the Chief Appraiser before October 15, 2001 . Sincerely, eG� Jimmie Honea Chief Appraiser JCH/mIr Enclosure 2404 K Avenue * Plano, Texas 75074-5911 * TELEPHONE-METRO 972-578-5200 * MCKINNEY 972-562-1404 ADMINISTRATION FAX 972-578-0733 * APPRAISAL FAX 972-578-0933 * www.collincad.org FORM#202.02.00 AIESR Ik , 1+ y - pax - '.} # cr 4 CENTRAL APPRAISAL DISTRICT OF COLLIN COUNTY DIRECTOR QUALIFICATIONS An appraisal district director must reside in the appraisal district for at least two years immediately preceding the date he or she takes office. A person may serve on the governing body of a taxing unit in the appraisal district that is; a city councilman, school board trustee, county commissioner, or other board member, and still be eligible to serve as a director. The common-law doctrine of incompatibility (holding offices that have conflicting demands on the holder) does not prohibit the same person from holding both offices. There is no limit to the number of elected officials that may serve on the board. An employee of a taxing unit within the appraisal district may not serve as a director. The only time that a taxing unit's employee may serve is if that employee is also an elected official or member of the governing body. For example, a city councilman who is employed as the school business manager may serve as a director. A person may not serve as a director if he or she is related to someone who appraises property for use in proceedings before the appraisal review board or in subsequent court proceedings, or represents property owners in such proceedings. A person may not serve on the board of directors if that person has a substantial interest in a business entity which has a contract with the appraisal district or, in the case of a taxing unit, has a contract related to the performance of an activity governed by the Tax Code. (Example- a partner in a law firm engaged in collecting delinquent taxes for a taxing unit.) In considering individuals to serve as directors, taxing units should look for expertise in such areas as accounting, finance, management, personnel administration, contracts, computers, real estate, or taxation. 2404 K Avenue * Plano, Texas 75074-5911 * TELEPHONE-METRO 972-578-5200 * MCKINNEY 972-562-1404 ADMINISTRATION FAX 972-578-0733 * APPRAISAL FAX 972-578-0933 * www.collincad.org FORM#202.02.00 AIESR WYLIE CITY COUNCIL AGENDA ITEM NO. 6. September 25, 2001 Issue Consider and act upon approval of a Resolution supporting the application by the Trinity Trail Association for a Collin County Park and Open Space Grant for the purposes of providing improvements to the trailhead of the Trinity Trail at Lake Lavon. Background The 1998 Collin County Bond election established a pool of funding for park and open space development in Collin County. The County took the approach of establishing a matching grant system as the means of distributing the funding throughout the County. Staff received notice in late August that the County was accepting grant applications for the development, expansion or improvement of parks and open space. The Trinity Trail Association will be submitting a grant application to the County for various improvements to the trail. Wylie's role in this grant would be to join with the Association and provide funding, as well as in-kind maintenance, to some of the proposed improvements to the trailhead located on Skyview Road. Other Considerations N/A Financial Consideration The 4B Fund balance for the FY2002 year is budgeted to be $370,460.00. The fund balance has intentionally been left at a relatively high level in order to provide matching funds for these and other grant opportunities. Staff would recommend a contribution to the proposed grant application in the amount of $20,000 to be used for improvements to the trailhead area. Board/Commission Recommendations N/A Staff Recommendations Staff recommends approval of the Resolution supporting the application by the Trinity Trail Association for a County Park and Open Space Grant. Attachments Resolution Mindy Manson Prepared by Revie d by inance ity an er Approval RESOLUTION NO A RESOLUTION OF THE CITY OF WYLIE, TEXAS SUPPORTING THE APPLICATION TO COLLIN COUNTY FOR GRANT FUNDING BY THE TRINITY TTRAILS PRESERVATION ASSOCIATION FOR THE IMPROVEMENT OF THE TRINITY TRAIL TRAILHEAD, AND DESIGNATING A PROJECT OFFICIAL. WHEREAS, Collin County is accepting grant applications for the development, expansion, or improvement of parks in Collin County, utilizing Open Space Program bond funds; and WHEREAS, the City of Wylie wishes to make improvements to the Trailhead of the Trinity Trail; and WHEREAS, the City of Wylie wishes to designate a project official for the purposes of working with Collin County; NOW, THEREFORE BE IT RESOLVED BY THE CITY OF WYLIE SECTION 1: That the City of Wylie supports the grant application of the Trinity Trail Preservation Association. SECTION 2: That the City of Wylie hereby certifies that the matching share of $20,000 for this application is readily available at this time. SECTION 3: That the City of Wylie hereby pledges the provision of maintenance of the Trailhead by municipal crews. SECTION 4: That the City of Wylie hereby authorizes and directs its City Manager or his designee to act as the Applicant in working with Collin County for the purposes of the grant funding. Introduced, read and passed by the affirmation vote of the Wylie City Council on this 25th day of September, 2001. John Mondy, Mayor Barbara Salinas, City Secretary RESOLUTION NO A RESOLUTION OF THE CITY OF WYLIE, TEXAS AUTHORIZING THE APPLICATION TO COLLIN COUNTY FOR GRANT FUNDING FOR THE IMPROVEMENT OF THE TRINITY TRAIL TRAILHEAD, AND DESIGNATING A PROJECT OFFICIAL. WHEREAS, Collin County is accepting grant applications for the development, expansion, or improvement of parks in Collin County, utilizing Open Space Program bond funds; and WHEREAS, the City of Wylie wishes to make improvements to the Trailhead of the Trinity Trail; and WHEREAS, the City of Wylie wishes to designate a project official for the purposes of working with Collin County; NOW, THEREFORE BE IT RESOLVED BY THE CITY OF WYLIE SECTION 1: That the City of Wylie, in conjunction with SECTION 2: That the City of Wylie hereby certifies that the matching share for this application is readily available at this time. SECTION 3: That the City of Wylie hereby authorizes and directs its City Manager or his designee to act as the Applicant in working with Collin County for the purposes of the grant funding. Introduced, read and passed by the affirmation vote of the Wylie City Council on this 25th day of September, 2001. John Mondy, Mayor Barbara Salinas, City Secretary WYLIE CITY COUNCIL AGENDA ITEM NO. September 25, 2001 Issue Consider and act upon approval of a Resolution authorizing the application for a Collin County Park and Open Space Grant for the purposes of developing Quail Meadow Park. Background The 1998 Collin County Bond election established a pool of funding for park and open space development in Collin County. The County took the approach of establishing a matching grant system as the means of distributing the funding throughout the County. Staff received notice in late August that the County was accepting grant applications for the development, expansion or improvement of parks and open space. The proposed grant application would be for the development of Quail Meadow Park, located on FM 1378, at the southern edge of the Centex Development. Park improvements would include a large playground, irrigation, landscaping, a trail around the park, benches, picnic tables, and possible lighting. Other Considerations N/A Financial Consideration During the FY2002 Budget process, $40,000 was set aside from the Parkland Dedication Fund toward the development of the first phase of the park. The County recognizes in-kind contributions as well as other donations. With this park, Centex Development gave the City a little over two acres of land above the required parkland dedication as well as constructing a parking lot for the park. Staff will be submitting these improvements which are valued at approximately $50,000 as a part of the local match. The grant is generally set up as a reimbursement program. Direct payment may be considered by the County under special circumstances. Because so much of the value of the local match is from outside sources, staff will be requesting a direct payment. If that option is not accepted by the County, there is sufficient funding in the 4B Reserve Fund for payment. The 4B fund would be reimbursed as funds are received from the County. Board/Commission Recommendations N/A Staff Recommendations Staff recommends approval of the Resolution authorizing the application for a County Park and Open Space Grant. Attachments Resolution /, 11 11�� / Prepared by R ewed by Fi nee City a ger Approval RESOLUTION NO A RESOLUTION OF THE CITY OF WYLIE, TEXAS AUTHORIZING THE APPLICATION TO COLLIN COUNTY FOR GRANT FUNDING FOR THE IMPROVEMENT OF THE QUAIL MEADOW PARK, AND DESIGNATING A PROJECT OFFICIAL. WHEREAS, Collin County is accepting grant applications for the development, expansion, or improvement of parks in Collin County, utilizing Open Space Program bond funds; and WHEREAS, the City of Wylie wishes to make improvements to the newly developed Quail Meadow Park; and WHEREAS, the City of Wylie wishes to designate a project official for the purposes of working with Collin County; NOW, THEREFORE BE IT RESOLVED BY THE CITY OF WYLIE SECTION 1: That the City of Wylie, in conjunction with Centex Development, has secured a new 5 acre park in an area of Wylie not currently served by a park. SECTION 2: That the City of Wylie hereby certifies that the matching share for this application is readily available at this time. SECTION 3: That the City of Wylie hereby authorizes and directs its City Manager or his designee to act as the Applicant in working with Collin County for the purposes of the grant funding. Introduced, read and passed by the affirmation vote of the Wylie City Council on this 25th day of September, 2001. John Mondy, Mayor Barbara Salinas, City Secretary