11/06/2012-4A-Agenda Packet-Regular•
AGENDA
4A SANGER INDUSTRIAL DEVELOPMENT CORPORATION
TUESDAY, NOVEMBER 6, 2012
1:00 P.M.
502 ELM
1. Call Meeting to Order.
2. Approve Minutes: August 13, 2012
3. Consider, Discuss and Possibly Act on Approving Resolution #Rll-16-12 -
Authorizing Texas Pellets, Inc. to Reimburse Expenditures for Project Costs From
Proceeds of Tax-Exempt Debt Obligations.
4. Discussion on Funding for Future Infrastructure Extensions to Promote and
Expand Industrial Growth.
5. Review Financials.
6. Adjourn.
I, the undersigned authority, do hereby certify that this Notice of Meeting was posted on
the bulletin board, at the City Hall of the City of Sanger, Texas, a place convenient and
readily accessible to the ge er public at all times, and said notice was posted on the
following date and time: ?' · V at / /· t>O /:bm.
and shall remain posted until meeting s adjourned.
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Tami Taber, City Secretary ~ -1.. .. • .. •• •. (:> <--,., $A... ••• • .. <> ~
City of Sanger, Texas ~ ' ·· i •• "'f:i -:~. 2 CJ ... i ••• -~ :: . .:;---_\ _,.. ...... ::. -. 7/\ .-:
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This facility is wheelchair accessibfi-1,}nhG~&il~'parking spaces are available. Requests for
accommodations or interpretive servifJY1ttt\'t~t11~e made 48 hours prio~ to this meeting. Please
contact the City Secretary's office at (940) 458-7930 for further information .
MINUTES: 4A
MEMBERS
SANGER TEXAS INDUSTRIAL DEVELOPMENT CORPORATION
August 13, 2012
PRESENT: Vickie Jenkins, Don Gillum, Fred Yeatts, and Elizabeth Springer
ABSENT: John Jacobs
OTHERS
PRESENT: Mike Brice City Manager, Tami Taber City Secretary and Joe Falls
1. Call Meeting to Order.
Vickie Jenkins called the meeting to order at 1:00 p.m.
2. Approval of Minutes: May 21, 2012
Fred Yeatts made a motion to approve the minutes. Seconded by Don Gillum.
Motion carried unanimously.
3. Consider, Discuss and Possibly Act on Approving Resolution #R0S-15-12 -
Authorizing the Issuance of the Sanger, Texas Industrial Development Corporation
Industrial Development Revenue Bonds, Series 2012B (Texas Pellets Project),
Approving and Authorizing an Indenture of Trust, a Loan Agreement, a Limited
Offering Memorandum, a Tax Certificate and Agreement, a Bond Purchase,
Agreement, Authorizing the Execution of Documents and Instruments Necessary or
Convenient to Carry out the Issuance of the Bonds and Other Matters in
Connection Therewith.
The City Manager explained again that with this second phase, the borrower called
German Pellets who is located in Woodville, Texas, their primary purpose is
processing of wood waste to manufacture biomass pellets, and a five silo pellet
storage facility located in Port Arthur, Texas.
4A will facilitate as a conduit and the benefit of approving this, is that the City will
receive a total of $20,000. There are no risks to the City.
This item will go to the City Council on August 20, 2012, for final approval.
Elizabeth Springer made a motion to approve. Seconded by Fred Yeatts. Motion
carried unanimously.
4. Discuss, Consider and Possibly Act on Approving the FY 2012-2013 budget.
City Manager went over the proposed budget and noted that the amount of $22,500
( salaries and benefits) is incorrect and should be $0.
Don Gillum made a motion to approve. Seconded by Fred Yeatts. Motion carried
unanimously.
5. Review Financials.
City Manager advised that as of June 30, 2012, there is $739,140.97 in the 4A
account.
6. Adjourn.
Meeting was adjourned at 1 :20 p.m.
Investments as of September 30, 2012
4A Certificates of Deeosit1 Monex Market1 ~-"~-_C:a~h
Name Acct.# Maturity Yield Balance Restricted
Claim on Cash 00-1000 $ 68,463.40
Cash #900020693 00-1010 0.50% $ 50,345.70 y
4A Money Market #902551273 00-1012 0.75% $ 585,792.31 y
Sanger TX Ind Corp CD#486639 00-1013 6MO 1.30% $ 93,343.30 y
Sanger TX Ind Corp CD#568058 00-1014 90Day 1.00% Redeemed y
I TOTAL INVESTED $ 797,944.71 I
4B Certificates of Deeositl Mone_x MarketLaru;t C:~sh Acct.
Name Acct.# Maturity Yield Balance Restricted
Claim on Cash 00-1000 $ 5,310.80 y
Cash MMKT 2379694 00-1010 0.75% $ 165,773.36 y
48 CD 461024 (6669) 00-1012 30D 1.00% Redeemed y
48 CD #653500 00-1013 1 YR 0.70% $ 21,160.40 y
48 CD #659924 00-1014 1 YR 1.30% $ 20,966.14 y
48 CD# 664243 00-1015 1 YR 0.90% $ 21,030.56 y
48 CD# 673277 00-1016 1YR 1.00% $ 20,990.41 y
48 CD#686115 00-1017 1 YR 0.70% $ 20,972.55 y
48 CD#689521 00-1018 1 YR 1.30% $ 20,905.83 y
48 CD#694371 00-1019 1YR 1.05% $ 20,909.48 y
48 CD #697230 00-1020 1YR 1.20% $ 20,978.14 y
48 CD #699934 00-1021 1 YR 1.30% $ 20,969.86 y
48 CD #702285 00-1022 1 YR 1.30% $ 20,801.69 y
48 CD#706078 00-1023 1YR 0.90% $ 20,682.33 y
48 CD#720097 00-1024 1YR 1.00% $ 20,462.99 y
48 CD#720119 00-1025 1YR 1.20% $ 20,513.74 y
I TOTAL INVESTED $ 442,42s.2s I
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