2006-05-22 PEARLAND ECONOMIC DEVELOPMENT CORPORATION REGULAR MEETING MINUTESMINUTES OF A REGULAR MEETING OF THE PEARLAND ECONOMIC DEVELOPMENT
CORPORATION ("PEDC") BOARD OF DIRECTORS OF THE CITY OF PEARLAND, TEXAS,
HELD MONDAY, MAY 22, 2006, AT 5:30 P.M., 1ST FLOOR CONFERENCE ROOM, CITY
HALL, 3519 LIBERTY DRIVE, PEARLAND, TEXAS.
I. Call to Order
The meeting was called to order at 5:30 p.m. with the following present:
Board Members
Chairman Randy Ferguson
Secretary Helen Beckman
Board member
Gary Idoux
Board member
Felicia Kyle
Board member
George Sandars
Board member
Lucy Stevener
Board member
Ed Thompson
Ex -Officio Board Members
City of Pearland Mayor Tom Reid
City of Pearland Bill Eisen
Staff Members
Executive Director Fred Welch
Minutes of a Regular Meeting
May 22, 2006
Page 2
II. Approval of Minutes: Secretary Helen Beckman made the motion, seconded by Board
Member Felicia Kyle to approve the minutes of the Regular Meeting of March 6, 2006 and
the Special Meeting of March 20, 2006.
Motion Passed: 7 — 0
At the Chairman's request and the Board's concurrence, Item A under New Business was
moved up on the agenda.
VII. New Business
A. Contract Approval: Board member Ed Thompson made the motion, seconded by
Board member George Sandars to approve the contract with Arbitrage Compliance
Specialists Inc. for annual compliance services through the period ending 9/30/06.
Motion Passed: 7 - 0
B. Resolution Approval: Board member George Sandars made the motion, seconded
by Board member Felicia Kyle to approve a Resolution Authorizing the Issuance of
Pearland Economic Development Corporation Sales Tax Revenue Bonds, Series
2006; and Containing other Provisions Related Thereto.
Motion Passed: 7 — 0
C. Infrastructure Project: Board member Ed Thompson made the motion, seconded
by Secretary Helen Beckman to approve the extension of water lines north from FM
518 along Roy Road at an approximate cost of $85,338.30.
Motion Passed: 7 - 0
D. Regional Detention — The Spectrum: Board member George Sandars made the
motion, seconded by Board member Lucy Stevener to approve reimbursing the
contractor for expenditures relating to over sizing detention for the Poag & McEwen
project, not to exceed $1.3 million.
Motion Passed: 7 - 0
Due to a conflict in schedule, Board member Ed Thompson left the meeting.
III. Board Member Reports: None
IV. Monthly Financial Report
A. Reviewed and discussed Pearland Economic Development Corporation Financial
Report for the period ending March 31, 2006.
B. Reviewed and discussed Pearland Economic Development Corporation Investment
Report for the period ending March 31, 2006.
C. Reviewed the fiscal year 2005 Audit Report for the Corporation and Auditor's Opinion.
Minutes of a Regular Meeting
May 22, 2006
Page 3
V. Executive Director's Report: Executive Director Fred Welch gave a brief projects
update.
VI. Public Comments
E. Public Hearing Date: The Public Hearing for the 2006-2007 Fiscal Year
Budget for Pearland Economic Development Corporation will be on July 10, 2006.
F. Meeting Date: The meeting to approve the FY 2006-2007 Budget will be on July 10,
2006.
G. 2006 Sales Tax Training Course for Board Members and Staff: No action taken.
VIII. Adjournment: Board member George Sandars made the motion, seconded by Board
member Lucy Stevener to adjourn.
Motion Passed: 6 — 0
Time: 6:27 p.m.
r ,
Minutes approved as submitted and/or corrected this /4' day of
<3✓ -Y , A.D., 2006.
�Randy Ferguson, airman_ '
ATTEST:
JaniceAtega, Office Coordinator