Create a Website Account - Manage notification subscriptions, save form progress and more.
Present: President Byron Bevers (Place 4), Vice President Ron Raymaker (Place 1), Dr. Jim Wallace (Place 2), Ted Fletcher (Place 5) Absent: Secretary Joanna Gonzalez (Place 3)
ITEM 4: Monthly Cash Flow Report - As requested by MDD, staff has created a visual for a 5-year cash flow projection for the MDD as well as a monthly cash flow report for future agendas. Discussion only.
ITEM 5: Monthly MDD Capital Projects Report - No action required; report only.
ITEM 6: Wastewater Treatment Plant Renovations - At the September MDD meeting, the board discussed the options of deferring the repayment of the $500,000 advancedfunding as proposed by City Council or eliminating the requirement of repayment. City Council discussed these options at the budget workshop and decided to reimburse the MDD all $500,000. Payment would be deferred toward the end of the WWTP Improvements project. MDD asked that this be placed on future agenda for discussion as to the conditions of the reimbursement.
ITEM 7: Creation of Investment Pool Accounts with TexSTAR & LOGIC - With the recent increase in interest rates, staff met with an investment representative from Hilltop Securities to learn about additional investment opportunities. Our current investment policy is restricted to three (3) investment types and investment pools is one of the approved investments. The city currently uses Texpool and Texpool Prime for investments and recently started to capitalize on higher interest rates, but it is always good to diversify the city’s investment portfolio to take advantage of higher yields when available. These investment pools will be in addition to Texpool and will be reviewed daily to ensure the city is utilizing the best option. MDD voted 4-0 to approve the creation of both the TexStar and LOGIC accounts.
ITEM 9: Ratification of the September Accounts Payable- MDD voted 4-0 to approve the accounts payable.
Executive Session: None scheduled
MDD adjourned at 6:18 p.m.
October 28: "Fall" Into Fun, 6-8 p.m., City Park
November 7: Planning and Zoning Commission (P&Z), 6 p.m. (HOLIDAY SCHEDULE)
November 14: Civic Club, 6 p.m., Executive Conference Room
November 15: City Council, 7 p.m. (HOLIDAY SCHEDULE)
November 15: Municipal Development District (MDD), 6 p.m. (HOLIDAY SCHEDULE)
November 23-24: Thanksgiving Holidays City Offices Closed
November 28: Lighting of the Angels, 6-8 p.m., Municipal Complex