2013-069ORDINANCE NO. 2013-069
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 GENERAL OBLIGATION BONDS WITH AN AGGREGATE
MAXIMUM PRINCIPAL AMOUNT NOT TO EXCEED $4,000,000 TO CONSTRUCT AND
IMPROVE STREETS PURSUANT TO THE BOND PROPOSITION APPROVED BY
VOTERS 1N NOVEMBER 2012; 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 design, planning, acquisition and construction of the projects described on
Exhibit "A" hereto (collectively, the "Projects") prior to the issuance of General Obligation
Bonds which are tax-exempt obligations, tax-credit obligations andlor 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") to finance the Projects; and
WHEREAS, the Issuer finds, considers, and declaxes 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 Issuer reasonably expects to incur debt, as one or more series of Tax-
Preferred Obligations, with an aggregate maximum principal amount not to exceed $4,000,000
for purpose of paying the costs of the Projects.
SECTION 2. 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 (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.
SECTION 3. The foregoing notwithstanding, no Tax-Preferred Obligation will be issued
pursuant to this ordinance more than three yeaxs after the date any expenditure which is to be
reimbursed is paid.
SECTION 4. The foregoing Sections 2 and 3 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 after 18 months of the date the original expenditure is made.
SECTION 5. This Ordinance shall become effective immediately upon its passage and
approval.
PASSED AND APPROVED this the � /C day of � , 2013.
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MA A. B� RR �I HS, AYOR
ATTEST:
JENNIFER WALTERS, CITY SECRETARY
BY:
APPR ED A O LEGAL FORM:
ANITA BURGESS, CITY ATTORNEY
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BY: ''� .
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EXHIBIT A
STREETS CIP PROJECTS
Street Street Street CIP Bike
SegID Street Name From Street To Street Class OCI OCI Flag Length SY Rebuild Cost LN
16 Amarillo St North Panhandle RES 15 2 176 590 $28,409
16-2 Amarillo St Panhandle Egan RES 13 2 362 966 $46,513
20-5 Anna St Panhandle Egan RES 9 2 384 1024 $49 306
,
156 Cambridge Ln Wellington Dr Oxford Ln RES 22 1 908 2422 $116,619
160-2 Campbell Ln Charles Woodford Ln RES 22 1 316 843 $40,590
167-2 Carlton Gober Malone RES 18 1 583 1555 $74,873
171-2 Carroll Blvd N Northridge Magnolia COL 28 1 310 1216 $71,562
188 Cherokee Ave Boyd Redwood PI RES 25 1 104 278 $13,386
188-2 Cherokee Ave Redwood PI Shawnee RES 23 355 947 $45,598
196-3 Choctaw Ave Redwood PI Shawnee RES 22 1 354 944 $45,454
245-J4 Crescent St Carroll Bv N Anna RES 28 1 206 1059 $62,616
255 Darby Ln Barrow Dr Candy Ln RES 13 2 1,047 2792 $134,435
262-4 Denison St Sherman Dr W University Dr W RES 25 1 478 1275 $61,391
380-3 Hampton Dr Lariat Rd Masch Branch Rd N RES 28 1 1,992 5312 $255,773
402 Highland St W North Texas Bv Ave D COL 15 2 661 2766 $162,779 BL
455-3 James St Mission W Fort Worth Dr RES 33 1,347 3592 $172,955
487-J5 Kings Row Loop 288 N Deerwood PW COL 22 1 904 2200 $129,470
497 Laredo Ct Santa Fe South RES 19 1 135 360 $17,334
512-3 Linden Dr Thomas Hillcrest RES 16 1 524 1398 $67,314
624 Montecito Rd Hobson Ln E EI Paseo E COL 31 2,961 9340 $553,404 BL
666-2 Oakhurst St Bentoaks Dr Bentoaks Dr RES 23 1 613 1635 $78,725
723 Phoenix Ct Santa Fe South End RES 21 1 112 299 $14,397
767 Regal Dr 135E BrierclifF Dr RES 24 1 604 1611 $77,570
772-15 Rio Grande Blvd Dallas Dr Rio Grande Bv RES 29 1 287 766 $36,883
780-3 Rockwood Ln Mistywood Ln Laurelwood Dr RES 23 1 370 987 $47,524
802-1N San Jacinto Blvd Colorado Bv Piney Creek Bv SAR 21 1 1,340 3742 $273,110 BL
808 Santa Fe St Ruidosa Ct Phoenix Ct RES 14 2 424 1131 $54,458
808-3 Santa Fe St Travis Laredo Ct RES 17 1 243 648 $31,201
809 Santa Monica Dr Hobson Ln E EI Paseo E RES 25 1 2,919 7784 $458,088
808-2 Sante Fe St Phoenix Ct Travis RES 21 1 292 779 $37,509
814-2 Schmitz Av Vine Frame RES 5 445 1187 $57,138
814-3 Schmitz Av Frame Mingo Rd RES 6 784 2091 $100,666
EXHIBIT A
STREETS CIP PROJECTS
Street Street Street CIP Bike
SegID Street Name From Street To Street Class OCI OCI Flag Length SY Rebuild Cost LN
824 Shadow Trail Meadow Plum Hollow RES 21 1 264 704 $33,898
891-2 Thunderbird Dr Colonial Glen Garden COL 17 327 1381 $81,272
891-3 Thunderbird Dr Glen Garden Dr Greenway Dr COL 22 1 338 1402 $82,508
942-2 Wessex Ct Waterford Wy Winston Dr RES 26 1 738 1968 $94,759
959 Williams Ln Buckingham Dr Royal Acres Dr RES 28 1 316 843 $40,590
992-2 Woodhaven St Woodhaven Brookfield Ln RES 36 602 1606 $77,329
$3,827,404