RDAP-2008-03 2008-08-25RESOLUTION NO. RDAP-2008-03
A RESOLUTION OF THE BOARD OF DIRECTORS FOR THE
DEVELOPMENT AUTHORITY OF PEARLAND (DAP), ACCEPTING THE
FINANCIAL REPORT FOR THE PERIOD ENDING JULY 31, 2008.
BE IT RESOLVED BY DAP BOARD OF DIRECTORS:
Section 1. That the Development Authority of Pearland, TX hereby accepts the Financial
Report for the period ending July 31, 2008 as shown in Exhibit "A" and Exhibit "B".
PASSED, APPROVED, AND ADOPTED this 25`h day of August. A.D. 2008.
~a~
T REID
CHAIR
ATTEST:
HENRY TANALAND
SECRETARY
Exhibit "A"
Balance Sheet
RDAP-2008-03
DEVELOPMENT AUTHORITY OF PEARLAND
BALANCE SHEET
FOR MONTH ENDED JULY 31, 2008
ASSETS:
Cash and Cash Equivalents $ 84,865
Money Market 812,184
Total Assets 897,049
LIABILITIES:
Interest $ 46,634
Total Liabilities 46,634
EQUITY:
Equity 850,415
Total Equity 850,415
Total Liabilities and Equity $ 897,049
Exhibit "B"
Revenues and Expenditures
RDAP-2008-03
DEVELOPMENT AUTHORITY OF PEARLAND
SCHEDULE OF REVENUES AND EXPENDITURES
FOR MONTH ENDED JULY 31, 2008
FY2008
ACTUAL
REVENUES TO - DATE
Contributions from TIRZ 3,220,843
Bond Proceeds 15,950,000
Interest 21,438
TOTAL 19,192,280
EXPENDITURES
Professional Services
Reimbursement to Developer 16,907,317
Issuance Costs 1,302,948
Bond Payments
Principal
Interest 991,101
Fiscal Fees 9,000
TOTAL 19,210,366
Net Change in Fund Balance (18,086)
BEGINNING FUND BALANCE 868,501
ENDING FUND BALANCE 850,416