MINUTES

          SUNNYVALE 4A DEVELOPMENT CORPORATION

         BOARD OF DIRECTORS REGULAR MEETING

THURSDAY, APRIL 8, 2010

7:00 P.M.

 

THE SUNNYVALE 4A DEVELOPMENT CORPORATION BOARD MET IN A REGULAR MEETING AT 7:00 P.M. ON THURSDAY APRIL 8, 2010. AT 7:00 P.M. IN THE COUNCIL CHAMBERS OF THE SUNNYVALE TOWN HALL, 127 N. COLLINS ROAD, SUNNYVALE, TEXAS UNDER V.T.C.A., GOVERNMENT CODE SECTION 551.041.  THOSE PRESENT WERE:

 

ABSENT        PRESIDENT                          LARRY BOYD

                        VICE PRESIDENT               RACHEL DOYLE

                        SECRETARY                        CLINT WESTMORELAND

                        TREASURER                        RONNIE HENDERSON

                        MEMBER                               WALT THOMAS

 

·       CALL TO ORDER

Vice-President Doyle called the meeting to order at 7:05 p.m.

 

·         PUBLIC COMMENT PERIOD: PERSONS MAY ADDRESS THE SUNNYVALE 4A DEVELOPMENT CORPORATION BOARD ON ITEMS NOT ON THE AGENDA.  PLEASE OBSERVE THE TIME LIMIT OF THREE (3) MINUTES.  CORPORATION AND ITS DIRECTORS CANNOT COMMENT OR DELIBERATE ITEMS OF PUBLIC COMMENT.

No public comments.

 

·         REVIEW AND CONSIDER APPROVING THE FINANCIAL REPORT

A.  MARCH 2010

David Cranford, Finance Director, discussed the financial report for March 2010 with the Board.  He said they basically had $1.9 million available which should see them through any current down-turns.  Mr. Cranford stated he didn't recognize any expenditure that stood out. 

 

Motion made by Member Thomas to approve the financial report for March 2010 as amended.  Motion seconded by Member Henderson.  Motion carried unanimously.

 

·         HEAR A PRESENTATION FROM FIRST SOUTHWEST REGARDING FUTURE CIP FINANCING OPTIONS

Scott Campbell, Town Manager, advised that capital projects were in the design phase at this time and the financial advisors from First Southwest had been asked to present bond options to the Board.   He said the designs were not complete and probably wouldn't be until mid-May 2010. 

 

George Wiliford from First Southwest Corporation presented information regarding capital improvement financing options with future bonds.  No action was taken by the Board.

 

·         EXECUTIVE SESSION AGENDA

A.  PURSUANT TO SECTION 551.087 OF THE TEXAS GOVERNMENT CODE TO DISCUSS AND DELIBERATE COMMERCIAL OR FINANCIAL INFORMATION FROM A POTENTIAL BUSINESS PROSPECT THAT THE BOARD IS SEEKING TO LOCATE OR EXPAND IN THE TOWN; TO DELIBERATE THE OFFER OF FINANCIAL OR OTHER INCENTIVE TO A BUSINESS PROSPECT GENERALLY LOCATED WITHIN THE SUNNYVVALE CENTER INDUSTRIAL PARK AND SOUTH COLLINS ROAD RETAIL CORRIDOR.

Vice-President Doyle adjourned into executive session at 7:48 p.m.         

Vice-President Doyle reconvened into regular session at 8:45 p.m.

 

·         CONSIDER ANY ACTION AS A RESULT OF THE EXECUTIVE SESSION 

No action taken.

 

·         ADJOURN

Vice-President Doyle adjourned the meeting at 8:45 p.m.

 

The undersigned presiding officer certifies that this is a true and correct record of the proceedings.

 

                                                                  ___________________________________

                                                                                                                                                                                     Vice-President Rachel Doyle

ATTEST:

_______________________________

Scott Campbell, Town Manager

 

A TAPE RECORDING OF THIS MEETING IS ON FILE AT TOWN HALL.  THESE MINUTES ARE CONDENSED THEREFROM.