03/22/2010-4B-Minutes-Regular (2)•
MINUTES: 4B SANGER TEXAS DEVELOPMENT CORPORATION
March 22, 2010
MEMBERS
PRESENT: John Payne, Jeff Springer, Will Dutton, Beverly Branch and Barbara Martin
·MEMBERS
ABSENT: Scott Stephens, Beverly Howard
OTHERS
PRESENT: City Manager Mike Brice, Cheryl Price, Administrative Assistant
1. Call Meeting to Order.
President Payne called meeting to order at 6:03p.m.
2. Approve Minutes: February 22, 2010
Motion was made by Jeff Springer to approve minutes as presented. Seconded by
Barbara Martin. Motion carried unanimously.
3. Consider and Possible Action on Authorizing City Manager and Staff to Sign Checks
for Expenditures Approved by the Board and be the Signatories on 4B Bank Accounts
and Investments
4.
John l'ayne questioned what the difference is in how it is being handled now.
Mike Brice advise.d that two Board member signatures are required for any checks or
bank drafts written on the 4B account. What is being proposed is allowing the City to
sign checks and issue checks for expenditures that have been approved by the Board.
This procedure was recommended by the CPA. Originally, the By-Laws required the
Treasurer to do all of the Banking and any two Board members need to sign the
checks. This procedure can be done without changing the By-Laws.
A motion was made by Barbara Martin to authorize the City Manager and staff to
sign checks for expenditures approved by the Board and to be signatories on 4B bank
accounts and investments, provided a list of expenditures is provided to the 4B Board
at each meeting. The Motion was seconded by Will Dutton. Motion carried
unanimously.
Project Updates:
a) Sports Complex
Mike Brice noted that because of the weather, not a lot has changed since the last
meeting. He said that GEO Tech came out last Thursday with their regular equipment
and had· to come back with heavier equipment on Sunday to access the property.
There will be an item on the next City Council Meeting to request a proposal for a
Construction Manager at Risk. What this does is require that the cost of the
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construction not exceed a set price. This is the best way to do this in today's market.
Mike Brice noted that the RFP (Request for Proposal) process is a 60 day process.
Also, in the RFP we will be looking for someone with experience in building Sports
Parks.
5. Review Financials
Mike Brice referred. to financial information he provided to the Board. He noted the
Sales Tax revenue from the last three months in 2009 and the first month 2010 are just
a little low but, revenue seems to have picked up in February and this month we are at
around $20,000. Mike Brice referred to the Investments page and advised that the 4B
is in great shape financially with $621,000 in the bank.
Barbara Martin said that she has noticed that there has not been· any expenditure
lately. Mike Brice advised that the only project the board has right now is the Sports
Park. The downtown area is complete except for a dispute with one contractor that
believes the City owes him an additional $23,000.
6. Adjournment.
Motion was made by Jeff Springer to adjourn. The motion was seconded by Barbara
Martin. The motion carried unanimously. John Payne adjourned meeting at 6:14 p.m.