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Home My WebLink About2001-067p Ihnx[WcoLL L�rW me Wi;mmesWlbmbunenmt open mane mW d n,n mmr pin doe ORDINANCE NO AV— — 061 AN ORDINANCE OF THE CITY OF DENTON, TEXAS TO DECLARE THE INTENT TO REIMBURSE EXPENDITURES FROM THE UNRESERVED FUND BALANCE OF THE GENERAL FUND WITH CERTIFICATES OF OBLIGATION SO THAT PROJECTS MORE FULLY DESCRIBED IN THE ATTACHMENT TO THIS ORDINANCE MAY BE COMMENCED, DECLARING AN EMERGENCY AND AMENDING THE 2000-2001 CAPITAL IMPROVEMENT BUDGET TO ALLOW THE FUNDING FOR THE OPEN SPACE AND DOWNTOWN MASTER PLANS, 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 expenditures for projects in conjunction with designing the Open Space Master Plan and the Downtown Master Plan which are described in Attachment "A", 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, in accordance with the provisions of Section 1 150-2 Treasury Regulations, to reimburse itself for such payments at such time as it issues the obligations to finance the Projects, and WHEREAS, the expenditures for the Project will be disbursed in the interim from the general unreserved fund balance, which is not appropriated at present in the 2000-2001 capital improvement budget for such use, and WHEREAS, after the budget was adopted, the City determined that in conjunction with the new Development Code, the need for an Open Space Master Plan and a Downtown Master Plan to develop strategies to save environmentally sensitive areas (ESA) and open space and to develop strategies that would help enhance the Downtown area in order to prevent deterioration and loss of important historical sites, all of which could not have reasonably been foreseen at the time of the adoption of the 2000-2001 capital improvement budget, time is of the essence since inaction could significantly adversely impact the City's plans and strategies to manage future growth, preserve historical sites, and comply with federal regulations, and which creates an emergency and a grave public necessity that the budget be amended to fund this project to develop an Open Space Master Plan and Downtown Master Plan, and WHEREAS, Sec 8 08 of the Denton City Charter provides that in case of grave public necessity, emergency expenditures to meet unusual and unforeseen conditions, which could not by diligent thought and attention have been included in the original budget, may be authorized by the affirmative vote of at least five of the members of the City Council as an amendment to the original capital improvement budget, and P ouNMo%LL Wu NN RP Od tlownmwn mum Wen Ear WHEREAS, the City Council finds that a grave public necessity exists which requires emergency expenditures for these master plan projects and the amendment of the 2000-2001 City of Denton Capital Improvement budget, NOW, THEREFORE, THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS SECTION 1 That the findings set forth in the above preambles 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 obligations, with an aggregate maximum principal amount equal to $166,900 for the purpose of paying the costs of the Projects, as set forth in the attached Attachment "A", which is made a part of this for all purposes as if incorporated word for word herein SECTION 3 All costs to be reimbursed pursuant hereto will be for the purchase of fleet vehicles and equipment, payment of contractual obligations for professional services, and/or construction of public works as authorized by Section 271 045(a)(1) of the Texas Local Government Code No tax-exempt obligations will be issued by the Issuer in furtherance of this resolution after a date which is later than 18 months after the later of (1) the date the expenditures are paid, or (2) the date on which the property, with respect to which such expenditures are made, is placed in service That all amounts expended from the Unreserved Fund Balance of the General Fund for the Project set forth in Attachment "A" to pay any costs of the Project shall be reimbursed from Certificate of Obligation bond proceeds within the 2000- 2001 fiscal year ,SSE TC ION 4 The foregoing notwithstanding, no tax-exempt obligation will be issued pursuant to this resolution more than three years after the date any expenditure which is to be reimbursed is paid SECTION 5 That the 2000-2001 capital improvement budget of Issuer is amended up to the amounts listed in Attachment "A", to provide for adjustments to the capital improvement budget Accordingly the 2000-2001 capital improvement budget is hereby amended by transferring the sum of $166,900 from the unreserved fund balance, account number 100-5600, to the capital improvement fund, account number 480-050 Immediately upon the sale and receipt of the proceeds from the certificate of obligations the sum of $166,900 or the actual amount transferred to the capital improvement fund shall be transferred to the unreserved fund balance If for any reason these adjustments to the capital improvement fund do not fully cover the expenditures anticipated in Attachment "A", the City Manager is authorized to provide such funds from the unreserved fund balance SECTION 6 That the City Secretary is directed to attach a copy of this ordinance to the original capital improvement budget and cause this amendment to be published once in the Denton Record -Chronicle Page 2 of 3 P WUWWepLLGLlOue OooumaWWNLIBMM01WmbwoneN 0p spau "o ""w Plmrt SECTION 7 This ordinance shall become effective immediately upon its passage and approval PASSED AND APPROVED this the 994 day of �� 12001 If ATTEST JENNIFER WALTERS, CITY SECRETARY BY APPROVED AS TO LEGAL FORM HERBERT L PROUTY, CITY ATTORNEY BY EULINE BROCK, MAYOR Page 3 of 3 ATTACHMENT A CIP PROJECT 2000-2001 Open Space Master Plan $ 54,900 Downtown Master Plan $112,000 Total $166,900 Attachment A Page 2 CITY OF DENTON TEXAS ANNUAL PROGRAM OF SERVICES ADOPTED 2001 2005 CAPITAL IMPROVEMENT PROGRAM GENERAL GOVERNMENT TOTAL REQUIRED AUTH OTHER CITY YEAR DIV/DEPT PROJECT NAME UNISSUED • FUNDING 200001 Trans Airport Upgrade Entrance Sign 10 000 10,000 2000 01 Trans Airport Control Tower 500 000 500 000 200001 Trans Land Acquisition Airport Runway 220 000 220 000 2000 01 Trans Traffic Signals 150 000 150 000 200001 Trans Hickory Creek 750 000 750 000 200001 Trans Paving/Sidewalks/Bikelanes 500,000 500,000 200001 Trans US 77 1 450,000 1 450 000 200001 Trans Loop 288 (12 000') 1,000,000 1 000 000 200001 Trans Widening Highway 2181 250,000 250 000 200001 Trans Windsor Interchange 500 000 500 000 200001 Trans Miscellaneous Paving 2 000,000 2 000 000 200001 Parks Upgrade Parks 460,000 460 000 200001 Parks Community Park Land Acquisition 1 400,000 1 400,000 2000 01 Parks Trails/Linkages 250 000 250,000 2000 Ot Parks Beautification 40 000 40 000 200001 Parks American Legion Hall Annex 175,000 175 000 200001 Parks Swimming Pool Safety Cover 25 000 25 000 200001 Build/Equip North Branch Library Design 350 000 350 000 2000 01 Build/Equip North Branch Library Construction 4 250,000 4 250,000 200001 Build/Equip Central Fire Station 3 300,000 3 300,000 200001 Build/Equip Comprehensive Facility Space Study 300 000 300,000 2000 01 Build/Equip Miscellaneous Facility Renovations 393,000 393,000 200001 Tech Svc GIS Improvements 200,000 200 000 200001 Tech Svc Long Range Tech Plan 2,000,000 2,000,000 200001 Plnning/Dev Open Space Master Plan 54,900 54,900 200001 Plnning/Dev Downtown Master Plan 112,000 112,000 TOTAL S 14 245 000 $6,406 900 $ 20 651,900 -Includes certificates of obligation fund balance and General Fund resources