HomeMy WebLinkAbout24-1898ORDINANCE NO. 24- 1898
AN ORDINANCE OF THE CITY OF DENTON, TEXAS, ESTABLISHING A LEGENDS
MUNICIPAL UTILITY DISTRICT FUND; COMMITTING REVENUES OF THE CITY TO
THE LEGENDS MUNICIPAL UTILITY DISTRICT FUND; PROVIDING A SEVERABILITY
CLAUSE; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City Council of the City of Denton elects to establish a Special Revenue
Fund to be called the Legends Municipal Utility District Fund; and
WHEREAS, the Governmental Accounting Standards Board (“GASB”) has adopted
Statement 54, which states that Special Revenue Funds are used to account for and report the
proceeds of specific revenue sources that are restricted or committed to expenditures for
specified purposes other than debt service or capital projects; and
WHEREAS, the City Council of the City of Denton elects to commit revenue annually to
the Legends Municipal Utility District Fund for the purpose of providing fire services to the
District; and
WHEREAS, the City Council of the City of Denton elects to determine and approve the
annual revenue to be accounted for and committed in the Legends Municipal Utility District
Fund each year through adoption of the Annual Program of Services; NOW, THEREFORE,
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS:
SECTION 1. The City Council hereby creates the Legends Municipal Utility District
Fund, an official fund of the City of Denton, Texas. The City Council commits revenues
annually to the Legends Municipal Utility District Fund in conjunction with its financial
statement beginning with fiscal year ending September 30, 2025. Expenditures from the
Legends Municipal Utility District Fund must be for fire services and related capital needs in the
district as determined by the City Council.
SECTION 2. If any section, subsection, paragraph, sentence, clause, phrase or word in
this Ordinance, or application thereof to any person or circumstances is held invalid by any court
of competent jurisdiction, such holding shall not affect the validity of the remaining portions of
this Ordinance, and the City Council of the City of Denton, Texas hereby declares it would have
enacted such remaining portions despite any such validity.
SECTION 3. This Ordinance shall become effective immediately upon its passage and
approval.
The motion to approve this
seconded by g,lq. k&
by the following vote L-1 - C>
Ordinance was mac, by IS„,J,_ CLJb FI,b and
' This Ordinance was passed and approved
Aye
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Nay Abstain Absent
Mayor Gerard Hudspeth:
Vicki Byrd, District 1 :
Brian Beck. District 2:
Paul Meltzer. District 3 :
Joe Holland. District 4:
Brandon Chase McGee
At Large Place 5 :
Jill Jester, At Large Place 6:
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PASSED AND APPROVED thi, th, I'jl- d,y ,f See+CMh/, 2024
GERARD HUDSPETH, MAYOR
ATTEST:
LAUREN THODEN, CITY SECRETARY
(#aAA% JAck
APPROVED AS TO LEGAL FORM:
MACK REINWAND, CITY ATTORNEY
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