2012-0031\codadldepartmentsllegallour documents\ordinances\12\reimbursement ord animal SY101teT.C�OCX
ORDINANCE NO. 2012-003
AN ORDINANCE OF THE CITY OF DENTON, TEXAS, TO DECLARE THE 1NTENT TO
REIMBURSE EXPENDITURES FROM THE UNRESERVED FUND BALANCE OF THE
GENERAL FUND WITH CERTIFICATES OF OBLIGATION WITH AN AGGREGATE
MAXIMUM PRINCIPAL AMOUNT EQUAL TO $445,000 TO ALLOW FOR THE DESIGN
AND CONSTRUCTION OVERSIGHT FOR THE L1NDA MCNATT ANIMAL CARE AND
ADOPTION FACILITY, 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 which will allow for the design and
construction oversight of the Linda McNatt Animal Care and Adoption Facility, which was
included and approved in the 2011-2012 Capital Improvement Program Budget and 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 $445,000 for the purpose of
paying the costs of the Project, as set forth in 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 utilization by the
Animal Control Department to execute a contract with Connolly Architects and Consultants to
begin the first phase of the new animal care and adoption facility, 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
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.
PASSED AND APPROVED this the /��
ATTEST:
JENNIFER WALTERS, CITY SECRETARY
B
A OVE AS TO LEGAL FORM:
ANITA BURGESS, CITY ATTORNEY
BY: