2011-181S:1Legall0ur pocumentsl0rdinances111�Reimbursement-vehicles.doc
o�nv�vcE rro. 2011-181
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 WITH AN AGGREGATE
MAXIMUM PRiNCIPLE AMOUNT EQUAL TO $2,070,092 TO FACILITATE THE
PURCHASE OF GENERAL FUND VEHICLES AND EQUIPMENT; 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 purchase of vehicles and
equipment being fleet additions and replacements, which were approved in the 2011-2012
Capital Improvement Program Budget and 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 Project; 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 $2,070,092 for the purpose of
paying the costs of the Project, as set forth in the attached Attachment "A", which is made a part
of this Ordinance for all purposes as if incorporated word for word herein.
SECTION 2. All costs to be reimbursed pursuant hereto will be for the purchase of fleet
vehicles and equipment 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 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 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 2011-2012 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.
SECTION 4. This Ordinance shall become effective immediately upon its passage and
approval.
S:1Legal\Our pocumentsl0rdinances1111Reimbursement-vehicles.doc
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PASSED AND APPROVED this the �7' � day of ���6�� , 2011.
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MARK A� BU GH , MAYOR
ATTEST:
JENNIFER WALTERS, CITY SECRETARY
BY:
APPR VED A TO LEGAL FORM:
ANITA BURGESS, CITY ATTORNEY
BY: -._- �� ,�
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Page 2 of 2
ATTACHMENT A: Vehicle Replacement and Supplemental Additions
FY11-12
HBU De tlDiv New Descri
402130 Parks/Main FORD Truck 3/4T Ext
230001 Facilities Pick u Truck
310100 PD Ops Chev Impala
310100 PD Ops Chev Im ala
310100 PD O s Chev Tahoe
310100 PD Ops Chev Im ala
310100 PD O s Chev Tahoe
310100 PD Ops Chev Tahoe
310100 PD Ops Chev Tahoe
310100 PD O s Chev Tahoe
310100 PD Ops Chev Tahoe
310100 PD Ops Chev Tahoe
310100 PD Ops Chev Tahoe
310100 PD Ops Chev Tahoe
310100 PD O s Chev Tahoe
310100 PD Ops Chev Tahoe
320100 Fire Ops Fire En ine Replacemer
353001 Streets Backhoe/Loader
353001 Streets Skid Loader
353001 Streets Backhoe/Loader
352001 Traffic Intl/ Altec Bucket Truck
General Fund Subtotal
Admin Fee & Contingen�
General Fund Total
Amount
on Estimate
$ 27,f
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Supplementals / Additions
32,212
32,212
56,000
32,212
56, 000
56,000
56,000
56,000
56, 000
56, 000
56, 000
56,000
00,312
96,373
148,000
1,848,296
221,796
1 FY11-12 GF Fleet Purchases (2).xls CO ORDINANCE 9/23/2011