HomeMy WebLinkAbout24-1662ORDINANCE NO. 24- 1662
AN ORDINANCE OF THE CITY OF DENTON TO DECLARE THE INTENT TO
REIMBURSE CAPITAL PROGRAM EXPENDITURES OF GENERAL GOVERNMENT
($165,176,270), THE SOLID WASTE UTILITY ($11,125,711), THE WATER UTILITY
($58,897,004), THE WASTEWATER UTILITY ($71,672,868), AND THE ELECTRIC
UTILITY ($74,977,730) WITH TAX-PREFERRED OBLIGATIONS (CERTIFICATES OF
OBLIGATION AND GENERAL OBLIGATION BONDS) WITH AN AGGREGATE
MAXIMUM PRINCIPAL AMOUNT NOT TO EXCEED $381,849,583; AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS, the City of Denton (the “Issuer”) is a municipal corporation/political
subdivision of the State of Texas; and
WHEREAS, the Issuer expects to pay, or have paid on its behalf, expenditures in
connection with the ongoing capital expansion of the General Government, and Solid Waste,
Water, Wastewater and Electric utility projects approved as part of the FY 2024-25 Capital
Improvement Program Budget and described on Exhibit “A“ hereto (collectively, the “Projects”)
prior to the issuance of Certificates of Obligation and General Obligation Bonds which are tax-
exempt obligations, tax-credit obligations or obligations for which a prior expression of intent to
finance or refinance is required by Federal or state law to finance the Projects; and
WHEREAS, the Issuer finds, considers, and declares that the reimbursement of the Issuer
for the payment of such expenditures will be appropriate and consistent with the lawful objectives
of the Issuer and, as such, chooses to declare its intention to reimburse itself for such payments at
such time as it issues the obligations to finance the Projects; NOW, THEREFORE,
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS :
SECTION 1. The findings set forth in the above preamble to this Ordinance are true and
correct and are hereby adopted.
SECTION 2. The Issuer reasonably expects to incur debt, as one or more series of tax-
exempt obligations, tax-credit obligations or obligations for which a prior expression of intent to
finance or refinance is required by Federal or state law (collectively and individually, the “Tax-
Preferred Obligations”), with an aggregate maximum principal amount equal to $381,849,583 for
the purpose of paying the costs of the Projects as described in Exhibit “A“ attached hereto and
incorporated by reference herein for all purposes.
SECTION 3. All costs to be reimbursed pursuant hereto will be capital expenditures. No
Tax-Preferred Obligations will be issued by the Issuer in furtherance of this ordinance after a date
which is later than 18 months after the later of (i) the date the expenditures are paid or (ii) the date
on which the property, with respect to which such expenditures were made, is placed in service.
SECTION 4. The foregoing notwithstanding, no Tax-Preferred Obligation will be issued
pursuant to this ordinance more than three years after the date any expenditure which is to be
reimbursed is paid.
SECTION 5. The foregoing Sections 3 and 4 notwithstanding, all costs to be reimbursed
with qualified tax credit obligations shall not be paid prior to the date hereof and no tax credit
obligations shall be issued in furtherance of this ordinance after 18 months of the date the original
expenditure is made.
SECTION 6. This Ordinance shall become effective immediately upon its passage and
approval.
The motion to approve this ordinance was made by Brian Beck and seconded by Paul
Meltzer. The ordinance was passed and approved by the following vote [7- 0]:
@ @ Abstain Absent
Gerard Hudspeth, Mayor:X
X
X
X
X
X
X
Vicki Byrd, District 1 :
Brian Beck. District 2 :
Paul Meltzer, District 3 :
Joe Holland. District 4:
Brandon Chase, At Large Place 5 :
Jill Jester, At Large Place 6:
PASSED AND APPROVED this the 15th day of October, 2024.
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ATTEST:
LAUREN THODEN, CITY SECRETARY a
Ca Jr+Dith
u .naAPPROVED AS TO LEGAL FORM:
MACK REINWAND, CITY ATTORNEY
BY:&aah HItler
EXHBIT A
CAPITAL IMPROVEMENT PROJECT LISTING
SERIES 2025 - Reimbursement Ordinance
October 15, 2024
FY 24-25
CIP BudgetDEBT FUNDED PROJECTS
WERAL OBLIGATION PROJECTS (2019 Bond Election)
Street Reconstruction
Street Lighting
Sidewalks
2019 Bond Election GO Total
13,400,000
3,500,000
2,000,000
18,900,000
WAL OBLIGATION PROJECTS (2023 Bond Election)
Ruddell, Mingo Roadway & Quiet Zonemr iX
Oakland Drainage & Upstream Detention Improvements (Prop B)
PEC 3&4 Drainage Improvements (Prop B)
Aquatic Improvements (Prop C)
Fire Station # 5 (Prop D)
Fire Station # 6 (Prop D)
Public Art - Public Safety (Prop D)
Affordable Housing (Prop E)
2023 Bond Election GO Total
12,000,000
3,000,000
6,265,000
13,000,000
7,671,000
7,671,000
503,000
5,000,000
5
CERTIFICATES OF OBLIGATION PROJECTS (Internal Service - Self-Supported):
Fleet HVAC (Int. Svc. - Fleet)
End User Computing (Technology Services)
Infrastructure Replacement (Tech Services)
Radios & Modems (Tech Services)
Citywide Fiber Replacement (Tech Services)
Internal Service Total
$1,000,000
941,000
1,000,000
2,307,000
500,000
7}
R eneral Government - Tax Supported):
Property Acquisition (Facilities)
Security Hardware Upgrade (Facilities)
Facilities ADA Upgrades (Facilities)
Adjacency Remodels (Facilities)
Municipal Court Renovation (Facilities)
Gun Range Cleanup (Env. Svc.)
ADA Transition Plan Improvements (Parks)
Avondale Park Playground (Parks)
North Pointe Park Playground (Parks)
$45,000,000
80,000
500,000
200,000
1,000,000
2,000,000
318,270
341,000
320,000
FY 24-25
CIP Budget
1,500,000
208,000
1,950,000
500,000
1,250,000
600,000
4,396,000
2,885,000
750,000
220,000
595,000
500,000
75,000
8,000,000
230.000
10,000,000
2,000,000
5
DEBT FUNDED PROJECTS
ADA Transition Plan Improvements (Traffic)
Traffic Signal Cabinets (Traffic)
Traffic Signal Design and Rebuilds (Traffic)
HSIP Projects (Traffic)
Vision Zero Implementation Items (Traffic)
Robson Ranch Road Signal (Traffic)
Vehicle Replacement - General Fund (Motorpool)
Vehicle Additions - General Fund (Motorpool)
Pecan Creek Watershed Preliminary Design (Drainage)
Woodland & Longridge Street Sections (Drainage)
Oaktree Drainage Ph 1 (Drainage)
Infrastructure Repair (Drainage)
Flood Monitoring (Drainage)
Hickory Creek Road Phase 3 (Streets)
Bike Lanes: Hinkle Street Side Path Connector (Streets)
2019 Street Reconstruction Bond Neighborhood Completion (Streets)
Bonnie Brae 5 (Streets)
General Government Total $
CERTIFICATES OF OBLIGATION PROJECTS (Solid Waste
Concrete Replacement
Scalehouse
350,000
640,000
2,200,000
4,000,000
285,711
3,650,000
11,125,711
Fleet Shop at Solid Waste
Cell 5 & 6 Construction
Vehicles - New Additions
Vehicles - Replacements
Solid Waste Total
CERTIFICATES OF OBLIGATION PROJECTS (Water):
AMI/AMR Replacements
Annual Field Service Replacements (CIP in House Construction)
Bonnie Brae (Phase 3)
Bonnie Brae (Phase 5)
Bonnie Brae (Phase 6)
Clear Creek Slope Maintenance
Elm and Locust (Phase 2)
VFDs at LLRWPS and the LLWTP HSPS
Fallmeadow Street Water Main
Fire Hydrant Installs
Lake Lewisville Filter Media Replacement
Lake Lewisville Raw Water Station Rehab
Lakey Street Water Main
$4,590,000
1,050,000
459,000
344,250
51,000
1,000,000
1,530,000
250,000
500,000
61,493
1,020,000
1,020,000
500,000
FY 24-25
CIP BudgetDEBT FUNDED PROJECTS
Large Valve Replacements
LCR (Lead and Copper Rule) Compliance
LCR (Lead and Copper Rule) Remediation
LLWTP DVIE Pond Infill
LLWTP LAS Bulk Storage Capacity Redesign
LLWTP Raw Water Transmission Line
LLWTP Sludge Dewatering Improvement Project
McKenna Park BPS Rehab & Fence Replacement
Oversize Participation Agreements
Ray Roberts Ozone Generator PLC Upgrades
RRWTP Capacity Rerate and Performance Upgrades
RRWTP Disinfection Conversion and Chemical Improvements
RRWTP Evaluation and Upgrade of Emergency Generator Automatic Transfer (ATS)
RRWTP Fiber Installation
RRWTP Raw Electric Assessment
RRWTP Raw Water Line Cleaning for Zebra Mussel Accumulation
Sampling Station Upgrades
SCADA/HMI Upgrade Water
Service Center Renovation
Supplement to Bond Election 2019 Projects
Tank Painting
Transmission Line Condition Assessment
Transmission Line Condition Repairs
Distributor Replacement Program
Water Meters
Water Production Water Storage Tank Mechanical Mixing Options Evaluation
Water Taps
West Allred Transmission Line
Westgate Road and Drainage
Water Total
127,500
1,000,000
500,000
1,020,000
255,000
500,000
1,932,900
500,000
5,360,000
459,000
14,892,000
3,187,500
510,000
382,500
127,500
153,000
200,000
637,500
1,530,000
7, 140,000
102,000
1,000,000
1,000,000
1,241,139
900,000
250,000
308,122
1,020,000
285,600
M8$
CERTIFICATES OF OBLIGATION PROJECTS (Wastewater)
BEnch Robson Ranch Interceptor (HC: O-4)
21/27/30-inch Roark Branch Interceptor Phase 2 (HC: D-4)
Annual Field Service Replacements
Bonnie Brae PH 3-6 Wastewater Upgrades
Collector Replacement Program
Cooper Creek Lift Station Improvement Project
Emergency Response Equipment Storage Building
Fallmeadow Street Water Main
Granada Lift Station Replacement
500,000
2,500,000
1,050,000
1,020,000
2,276,552
331,500
400,000
500,000
1,122,000
FY 24-25
CIP Budget
3,570,000
100,000
632,400
500,000
510,000
500,000
150,000
12,182,880
510,000
13,040,000
4,794,000
250,000
551,250
1,785,000
2,244,000
1,250,000
13,000,000
903,286
1,500,000
4,000,000
1
DEBT FUNDED PROJECTS
Hickory Co
Hickory Creek Water Reclamation Plant Ph 1 (HC: O-1, O-2, O-3)
Hobson Lift Station Electrical Upgrade
Lakey Street Water Main
Legends Sewer Line
Lift Station Replacement
Manhole Repair/Replace/Lining
Milam Creek Basin Wastewater Line and Lift Station
Mingo/Ruddell/Quiet Zone Sewer Upgrades
Oversize Participation
PCWRP Expansion to 26 MGD and 75 IVGD Headworks
PCWRP Utility Power Switch Replacement
Pipe/Force Main Condition Assessment
Robson Ranch Wastewater Improvement Project Phase I & II
Robson West Lift Station
SCADA/HMI Upgrade Water Rec
Supplement to Bond Election 2019 Projects
Vehicle Replacement
Water Reclamations Grinder
Service Center Renovation
Wastewater Total $
CERTIFICATES OF OBLIGATION PROJECTS (Electric):
001 AUTOMATED METER READING
003 BUILDING CONSTRUCTION
$1,238,730
2,500,000
6,550,000
7,000,000
15,886,000
9,205,000
600,000
800,000
6,400,000
8,350,000
6,358,000
4,090,000
6,000,000
4
013 DISTRIBUTION SUBSTATIONS
014 DISTRIBUTION TRANSFORMER
019 FEEDER EXTENSIONS & IMPROVE
025 NEW RESIDENTIAL&COMMERCIAL
032 POWER FACTOR IIVIPROVEMIENT
040 STREET LIGHTING
045 TRANSMISSION LINES
046 TRANSMISSION SUBSTATION
052 DIVE - PRODUCTION PLANT
058 TECHNOLOGY - SOFTWARE/HARDWARE
064 ELECTRIC - RELOCATIONS
Electric Total }
TOTAL GOs
TOTAL COs
GRAND TOTAL
$74,010,000
$ 307,839,583
$ 381,849,583