HomeMy WebLinkAbout02/07/2013 CDC
February 7, 2013
MINUTES OF REGULAR SESSION OF THE
COMMUNITY DEVELOPMENT CORPORATION
FEBRUARY 7TH 2013
The Joint Special Session of The Community Development Corporation of the City of
The Colony, Texas, was called to order at 7:00 a.m. on the 7t" day of February 2013, at
City Hall, 6800 Main Street, The Colony, Texas, with the following roll call:
Tenon Lawrence President Present Pain Nelson - Staff
Stephen Sohn Vice President Present Kathy Neal - Staff
Kathy Braby Treasurer Present
Lisa Leary Secretary Present
Donna Cole Member Present
Don Beckel Member Present
Susana Perez Member Absent
And with five board members present a quorum was established and the following items
were addressed:
1.0 ROUTINE ANNOUNCEMENTS, RECOGNITIONS
Call to Order
4.0 REGULAR COMMUNITY DEVELOPMENT CORPORATION (TYPE B)
AGENDA ITEMS
4.1 Discuss and consider a resolution authorizing the president to execute
documents necessary for the conveyance of an approximately 79.614 acre
tract of land consistent with a real estate contract of sale dated September 26,
2012-
Motion to approve the resolution authorizing the president to execute any and all
documents necessary for the conveyance of the approximately 79.614 acre tract of land
presented - Braby; second - Leary; motion passes with all ayes.
4.2 Discuss and consider a resolution authorizing and approving a first
amendment to real estate contract of sale, amended and restated promissory
note, correction special warranty deed, correction deed of trust, and all
necessary documents concerning the acquisition from 121 Acquisition
Company, LLC, a Texas limited liability company, an undivided interest in
an approximately 346.70 acre tract of land generally located along the south
side of and adjacent to the Sam Rayburn Tollway (State Highway 121), north
of and adjacent to Plano Parkway, and west of Spring Creek Parkway,
concerning the Nebraska Furniture Mart Texas Project -
Motion to approve the resolution authorizing the president to execute the first amendment
to real estate contract of sale, amended and restated promissory note, correction special
warranty deed, correction deed of trust, and all necessary documents concerning the
acquisition fi°om 121 Acquisition Company, LLC an undivided interest in the
approximately 346.70 acre tract of land, as presented.
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February 7, 2013
8.1 Discuss and consider all matter incident and related to the issuance and sale
of "THE COLONY COMMUNITY DEVELOPMENT CORPORATION
SALES TAX REVENUE BONDS (NEBRASKA FURNITURE MART
TEXAS PROJECT INFRASTRUCTURE BONDS), SERIES 2013" including
the approval of a bond indenture and supplement, a purchase contract, a
reimbursement agreement, a disclosure agreement and authorizing the
issuance of such bonds -
Motion to approve a resolution authorizing the issuance of $29,580, 000 of "The Colony
Community Development Corporation Sales Tax Revenue Bonds (Nebraska Furniture
Mart Texas Project Infrastructure Bonds), Series 2013 " and approving and authorizing
the execution of any and all related documents, including the indenture of trust and
security agreement, first supplemental trust indenture, purchase contract, continuing
disclosure agreement, and public improvement district reimbursement agreement, and
resolving other matters incident and related thereto - Becket; second - Sohn; motion
passes with all ayes.
There being no further business to discuss, the meeting was adjourned at 7:59p.m.
Kathy Neal, Recording Secretary ~ T v -nee, President
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