2010-108sAour documents\ordinances\10\sw reimbursement ord-equipment.doc
ORDINANCE NO. 2010-108
AN ORDINANCE OF THE CITY OF DENTON, TEXAS TO DECLARE THE INTENT TO
REIMBURSE EXPENDITURES FROM THE SOLID WASTE RESERVE FUND WITH
CERTIFICATES OF OBLIGATION WITH AN AGGREGATE MAXIMUM PRINCIPAL
AMOUNT EQUAL TO $4,256,000 TO ALLOW THE SOLID WASTE DEPARTMENT TO
PURCHASE AND ACQUIRE REFUSE AND RECYCLING EQUIPMENT IN ORDER TO
CONTINUE PROVIDING SOLID WASTE REFUSE AND RECYCLING COLLECTION
OPERATIONS; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City of Denton (the "Issuer") is a municipal corporation and political
subdivision of the State of Texas; and
WHEREAS, the issuer expects to pay expenditures in connection with the acquisition of
refuse and recycling equipment for collection operations for the Solid Waste Department
approved in the 2009-10 Adopted Budget, and which are more particularly 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; NOW, THEREFORE,
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS:
SECTION 1. The Issuer reasonably expects to incur debt, as one or more series of
obligations, with an aggregate maximum principal amount equal to $4,256,000 for the purpose of
paying the costs of the refuse and recycling equipment for collection operations, as set forth in
the Attachment "A", which is incorporated by reference herein and made a part of this Ordinance
for all purposes.
SECTION 2. All costs to be reimbursed pursuant hereto will be capital expenditures of
the Solid Waste Department. No tax-exempt 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 (1) the
date the expenditures are paid or (2) the date on which the property, with respect to which such
expenditures were made, is placed in service. All amounts expended from the Solid Waste
Reserve Fund for equipment set forth in Attachment "A" to pay costs of the equipment, shall be
reimbursed from the Certificate of Obligation proceeds within the 2009-10 fiscal year.
SECTION 3. The foregoing notwithstanding, no tax-exempt obligation will be issued
pursuant to this Ordinance more than three years after the date any expenditure which is to be
reimbursed is paid.
sAour documents\ordinances\10\sw reimbursement ord-
SECTION 4. The findings set forth in the preamble of this Ordinance are incorporated
by reference into the body of this Ordinance as if fully set forth herein. This Ordinance shall
become effective immediately upon its passage and approval.
PASSED AND APPROVED this the day of )2010.
l
MARK A. BURROUG AS, 7
ATTEST:
JENNIFER WALTERS, CITY SECRETARY
By: ~
APPROVED AS TO LEGAL FORM:
ANITA BURGESS, CITY ATTORNEY
By:
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Page 2 of 2
ter` ATTACHMENT A Solid Waste
Capital Improvement Expenditures
Description Amount
Comm-Container-Equipment-Maintenance 245,000
Ground Water Wells 110,000
Home Chemical Building Improvements 65,000
Integrated Waste Management System 1,100,000
Landfill Expansion 600,000
Landfill Improvements 100,000
Landfill Security Fence / Wall 650,000
Landfill Software Upgrades 50,000
Leachate Recirculation 70,000
LFG Line Construction 50,000
Mechanical Processing Equipment 450,000
Recycling Carts Replacements 100,000
Recycling Commercial Containers 105,000
Recycling Facility Upgrades 16,000
Res-Container-Equipment-Assembly 115,000
Security - Buildings & Parking Lots 40,000
Solid Waste Equipment 100,000
SW Equipment & Tire Wash 150,000
SW Management Planning 90,000
Waste to Energy Pilot 50,000
Total 4,256,000