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2014-243s:Uegal\our documents\ordinances\14\bond election ordinance v4.docx � . �; . � ' � � � AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF DENTON, TEXAS, CALLING AN ELECTION TO BE HELD ON NOVEMBER 4, 2014, WITHIN SAID CITY ON THE QUESTION OF THE ISSUANCE OF $98,175,000 IN AD VALOREM TAX SUPPORTED PUBLIC SECURITIES FOR STREETS, PUBLIC SAFETY, DRAINAGE AND PARKS; MAKING PROVISION FOR THE CONDUCT OF THE ELECTION; AND CONTAINING OTHER PROVISIONS INCIDENTAL THERETO; AND DECLARING AN EFFECTIVE DATE. WHEREAS, the City Council (the "City Counci159) of the City of Denton, Texas (the "City") finds and determines that an election should forthwith be called and held in the City for the purpose of submitting propositions for the issuance of ad valorem tax supported public securities for the purposes herein set forth; and WHEREAS, it is provided in Section 3.004 of the Texas Election Code (the "Code") that the governing body of the City shall order elections pertaining to municipal affairs, give notice and appoint election officers to hold the election; and WHEREAS, the City Council finds that the date at which said election shall be held is at least seventy-eight (78) days after the date this ordinance is adopted; NOW, THEREFORE, THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS: SECTION 1. The statements contained in the preamble to this ordinance are hereby adopted as findings of fact and as a part of the operative provisions hereof. SECTION 2. An election shall be held between the hours of 7:00 A.M. and i:00 P.M. on November 4, 2014 in the City, for the purpose of submitting to the voters of the City ballot propositions that authorize the issuance of public securities supported by ad valorem taxes, at the polling places designated by the Denton County Elections Administrator (the "Elections Administrator") in accordance with the provisions of a joint election agreement and contract for election services with the Elections Administrator (the 66Election Services Agreement"), which the City Manager or an Assistant City Manager is hereby authorized to execute in the name of the City. The locations of such polling places are set forth in Exhibit A attached hereto. Exhibit A shall be modified to include additional or different election day polling places designated by the Elections Administrator and to conform to the Election Services Agreement. SECTION 3. Early voting shall be conducted by personal appearance at the locations, dates and times set forth in Exhibit B attached hereto and during the period early voting is required or permitted by law, being October 20, 2014 through October 31, 2014. Exhibit B shall be modified to include additional or different early voting locations designated by the Elections Administrator and to conform to the Election Services Agreement. SECTION 4. Eligible voters who live in the City may vote on election day and during the eaxly voting period at any voting center shown in Exhibits "A" and 66B�9y respectively. . ,, } '�,. i ! A � ', � �.. :.. SECTION 5. The Denton County Elections Administrator shall serve as the early voting clerk in accordance with the terms of an Election Services Agreement. The main Early Voting polling location for the election for residents of the City shall be at the following address. Applications for early voting by mail must be received no later than the close of regular business or 12 noon, whichever is later, on October 24, 2014. Applications for early voting by mail must be submitted to the following address: Early Voting Clerk Denton County Elections Administrator 701 Kimberly Drive Denton, Texas 76208 SECTION 6. All resident, qualified electors of said City shall be entitled to vote at said election. SECTION 7. At said election the following PROPOSITIONS shall be submitted in accordance with law: PROPOSITION NO. 1 Shall the City Council of the City of Denton be authorized to issue public securities of said City, in one or more series or issues, in the aggregate principal amount of $61,710,000, with the public securities of each such series or issue, respectively, to mature serially within not to exceed thirty years from their date, and to be sold at such prices and bear interest at such rates, not to exceed the maximum rates permitted by law at the respective times of issuance, as shall be determined within the discretion of the City Council, for the purpose of the acquisition of property and making improvements for public purposes in said City, to-wit: constructing, reconstructing, restructuring and extending streets, roadways, bridges, overpasses, pedestrianways, sidewalks, landscaping, streetscapes, collectors, storm drains, signalization, signage, other traffic and signal controls, traffic control and transportation facilities, street lighting and median improvements; up to $30,000 of such principal amount for acquiring, constructing and installing public art related to and being part of some or all of the foregoing; the acquisition of land and interests in land for the foregoing; and improvements related to the foregoing; and shall said City Council be authorized to levy and cause to be assessed and collected annual ad valorem taxes in an amount sufficient to pay the annual interest on said public securities and provide a sinking fund to pay said public securities at maturity? PROPOSITION NO. 2 Shall the City Council of the City of Denton be authorized to issue public securities of said City, in one or more series or issues, in the aggregate principal amount of $16,565,000, with the public securities of each such series or issue, respectively, to mature serially within not to exceed thirty years from their date, Page 2 of 9 s:Uegal\our documents\ordinances\14\bond election ordinance v4.docx and to be sold at such prices and bear interest at such rates, not to exceed the maximum rates permitted by law at the respective times of issuance, as shall be determined within the discretion of the City Council, for the purpose of the acquisition of property and making improvements for public purposes in said City, to-wit: constructing, reconstructing, renovating, improving, expanding, equipping and furnishing public safety facilities for the police department and the fire department including related utility infrastructure, drainage, landscaping, and site and access improvements; up to $325,000 of such principal amount for acquiring, constructing and installing public art related to and being part of some or all of the foregoing; the acquisition of land and interests in land for the foregoing; and improvements related to the foregoing; and shall said City Council be authorized to levy and cause to be assessed and collected annual ad valorem taxes in an amount sufficient to pay the annual interest on said public securities and provide a sinking fund to pay said public securities at maturity? PROPOSITION NO. 3 Shall the City Council of the City of Denton be authorized to issue public securities of said City, in one or more series or issues, in the aggregate principal amount of $8,545,000, with the public securities of each such series or issue, respectively, to mature serially within not to exceed thirty years from their date, and to be sold at such prices and bear interest at such rates, not to exceed the maximum rates permitted by law at the respective times of issuance, as shall be determined within the discretion of the City Council, for the purpose of the acquisition of property and making improvements for public purposes in said City, to-wit: constructing, reconstructing, restructuring and installing stormwater drainage and flood control improvements; related utility relocation and bridge and street modifications or removal; the acquisition of land, structures and interests in land for the foregoing; and improvements related to the foregoing; and shall said City Council be authorized to levy and cause to be assessed and collected annual ad valorem taxes in an amount sufficient to pay the annual interest on said public securities and provide a sinking fund to pay said public securities at maturity? PROPOSITION NO. 4 Shall the City Council of the City of Denton be authorized to issue public securities of said City, in one or more series or issues, in the aggregate principal amount of $11,355,000, with the public securities of each such series or issue, respectively, to mature serially within not to exceed thirty years from their date, and to be sold at such prices and bear interest at such rates, not to exceed the maximum rates permitted by law at the respective times of issuance, as shall be determined within the discretion of the City Council, for the purpose of the acquisition of property and making improvements for public purposes in said City, to-wit: constructing, reconstructing, renovating, improving, expanding and equipping park improvements, including beautification, trails, athletic fields, water parks, swimming pools, park buildings and recreation facilities; up to $180,000 of such principal amount for acquiring, constructing and installing Page 3 of 9 s:\kegal\our dacuments\ordinances\14\bond election ordinance v4.docx public art related to and being part of some or all of the foregoing; the acquisition of land and interests in land for the foregoing; and improvements related to the foregoing; and shall said City Council be, authorized to levy and cause to be assessed and collected annual ad valorem taxes in an amount sufficient to pay the annual interest on said public securities and provide a sinking fund to pay said public securities at maturity? SECTION 8. The official ballots for said election shall be prepared in accordance with the Code so as to permit the electors to vote "FOR" or "AGAINST" the aforesaid PROPOSITION, with the ballots to contain such provisions, markings and language as required by law, and with such PROPOSITION to be expressed substantially as follows: FOR AGAINST PROPOSITION NO. 1 THE ISSUANCE OF $61,710,000 OF PUBLIC SECURITIES FOR STREET IMPROVEMENTS PROPOSITION NO. 2 FOR ) THE ISSUANCE OF $16,565,000 OF PUBLIC SECURITIES ) FOR PUBLIC SAFETY FACILITIES FOR POLICE AND AGAINST � FIRE DEPARTMENTS PROPOSITION NO. 3 FOR __, ) THE ISSUANCE OF $8,545,000 OF PUBLIC SECURITIES ) FOR STORMWATER DRAINAGE AND FLOOD CONTROL AGAINST � IMPROVEMENTS PROPOSITION NO. 4 FOR THE ISSUANCE OF $11,355,000 OF PUBLIC SECURITIES FOR PARK SYSTEM IMPROVEMENTS I-[N:�I�F."�11 SECTION 9. In accordance with the Election Services Agreement, the Elections Administrator, as early voting clerk, shall receive applications for early voting ballots to be voted Page 4 of 9 s:\legal\our documents\ordinances\14\bond election ordinance v4.docx by mail. An early voting ballot board and signature verification committee shall be created to process early voting results from the election. SECTION 10. In accordance with the Election Services Agreement, the Elections Administrator shall appoint the presiding judges for each polling place and the presiding judge of the early voting ballot board. The presiding judge of the early ballot board, with the assistance of the Elections Administrator, shall appoint two or more additional members to constitute the early voting ballot board members and signature verification committee members, as may be required to efficiently process the early voting ballots. SECTION 11. In accordance with the Election Services Agreement, the Elections Administrator shall appoint the presiding election judges, alternate presiding judges and early voting clerks and deputy early voting clerks for the designated polling places. SECTION 12. In accordance with provisions of the Code, the Bond Election Ordinance, as it may be modified in a manner that is consistent with the election notice requirements applicable to the Election, shall serve as proper notice of the election (the "Notice of Election"). The City Council hereby directs that the Notice of Election and the Bond Election Ordinance be posted and published as follows, and it is speciiically authorized that the Bond Election Ordinance may be provided to the Election Administrator who may act on behalf of the City in posting the Bond Election Ordinance in accordance with the provisions of Section 4.003(�(1) of the Code: (a) The Notice of Election, in both English and Spanish, shall be published on the same day in each of two (2) successive weeks in a newspaper of general circulation in the City, the date of the first publication to be not less than fourteen (14) days nor more than thirty (30) days prior to the date of the Election (b) The Bond Election Ordinance, in both English and Spanish, shall be posted on the bulletin board at the City Hall of the City used for posting notices of ineetings of the City Council, and at three other public places in the City, not later than the 21 st day prior to the date set for the election; (c) The Bond Election Ordinance, in both English and Spanish, and the Notice of Election, in both English and Spanish, shall be prominently posted during the 21 days before the election on the City's Internet website; and (d) The Bond Election Ordinance, in both English and Spanish, shall be posted on election day and during early voting by personal appearance, in a prominent location at each polling place. SECTION 13. In all respects, said election shall be conducted in accordance with the Texas Election Code and any other applicable laws. The City Secretary is authorized to perform every act required by the City Charter, the laws of the State of Texas and all other applicable laws for holding elections. Page 5 of 9 s:Vegal\our documents\ordinances\14\bond election ordinance v4.docx SECTION 14. In accordance with Article 9, Sec. 9.02(c)(1) of the City Charter, it is hereby found and determined that the probable period of usefulness of the proposed improvements covered by the aforesaid PROPOSITION is 30 years. SECTION 15. Article 9, Sec. 9.02(c)(6) of the City Charter contains the following provision and requires this election ordinance to distinctly specify: "A determination of the net debt of the City after issuance of the bonds thereby authorized, together with a declaration that the bonds thereby authorized will be within all debt and other limitations prescribed by the Constitution and laws of the State of Texas". The determination is hereby made that the net debt of the City after the issuance of the bonds herein proposed to be submitted will be not more than $495,335,000 and it is hereby declared that said general obligation bonds will be within all debt and other limitations prescribed by the Constitution and laws of the State of Texas. SECTION 16. In accordance with the provisions of Section 3.009(b) of the Code, it is hereby found and determined that: (a) The proposition language that will appear on the ballot is set forth in Section 8 hereof. (b) The purpose for which the bonds are to be authorized is set forth in Section 7 hereof. (c) The principal amount of the bonds to be authorized is set forth in Sections 7 and 8 hereof. (d) As set forth in Sections 7 and 8 hereof, if the bonds are approved by the voters, the City Council will be authorized to levy annual ad valorem taxes on all taxable property in the City, within the limits prescribed by law, sufficient to pay the annual principal of and interest on the bonds and provide a sinking fund to pay the bonds at maturity. (e) Based upon the bond market conditions at the date of adoption of this Ordinance, the maximum interest rate for any series of the bonds is estimated to be 5.50% as calculated in accordance with applicable law. Such estimate takes into account a number of factors, including the issuance schedule, maturity schedule and the expected bond ratings of the proposed bonds. Such estimated maximum interest rate is provided as a matter of information, but is not a limitation on the interest rate at which the bonds, or any series thereof, may be sold. (� As set forth in Section 7 hereof, if the bonds are approved, they may be issued in one or more series, to mature serially, over a period not to exceed 30 years. Page 6 of 9 s:\legal\our documents\ordinances\14\bond election ordinance v4.docx (g) The aggregate amount of the outstanding principal of the City's debt obligations which are secured by ad valorem taxes as of the beginning of the City's 2013-14 fiscal year is $397,160,000. (h) The aggregate amount of the outstanding interest of the City's debt obligations which are secured by ad valorem taxes as of the beginning of the City's 2013-14 fiscal year is $127,570,666. (i) The ad valorem debt service tax rate for the City for the 2013-14 fiscal year is $0.68975 per $100 of taxable assessed valuation. SECTION 17. The City Manager or an Assistant City Manager are hereby authorized to correct, modify or change the information in the attached Exhibits based upon the iinal locations, dates and times agreed upon by the Elections Administrator and the City as well as incorporate additional or different voting locations as designated by the Elections Administrator. SECTION 18. It is hereby officially found and determined that the meeting at which this ordinance is passed was open to the public as required and that public notice of the time, place, and purpose of said meeting was given as required by the Open Meetings Act, Chapter 551, Texas Government Code. SECTION 19. This ordinance shall become effective immediately upon its passage and approval. PASSED AND APPROVED this the ���� m day �' �,�, p� � m_, 2014. -�, ��. � ��° �� ��-i � '�'�TTS, MAYOI� ATTEST: 1 � ��1�"�i� WALTERS� CITY SECRETARY I�. APP�i���",L�3 t"��"�"() LEGAL FORM: ANITA BURGESS, CITY ATTORNEY BY: �y��.�".����'� ������ —_��' , � ; ,,,, , . BOND ATTORNEYS Page 7 of 9 s:\legal\our documents\ardinances\14\bond electian ardinance v4.docx • , ,, � ELECTION AY P LLING PLACES Aubrey Area Library Stephen Copeland Government Green Valley Baptist Church 226 Cauntryside Dr., Aubrey, Texas Center 9901 FM 428, Aubrey, Texas Precinct No. 1005 1400 FM 424, Cross Raads, Texas Precinct No. 1008 Precinct No. 1007 Denton Christian Church 3130 N. Elm St., Denton, Texas Precinct No. 1009 Dentan Fire Station #4 2110 Sherman Dr., Denton, Texas Precinct No. 1012 Southmont Baptist Church 2801 Pennsylvania Dr., Dentan, Texas Precinct Nos. 1016, 1017 Pecan Creek Elementary 4400 Lakeview Blvd., Denton, Texas Precinct Nos. 1038, 1039, 4012, 4041 Robson Ranch 9501 Ed Robson Blvd., Denton, Texas Precinct No. 4003 Trinity Presbyterian Church 2200 N. Bell Ave., Denton, Texas Precinct No. 4006 Denton Civic Center 321 E. McKinney, Denton, Texas Precinct Nos. 4009, 4010 Cooper Creek Baptist Church 4582 Fishtrap Rd., Denton, Texas Precinct Na. 1010 Singing Oaks Church of Christ 101 Cardinal Dr., Denton, Texas Precinct No. 1013 DATCU Credit Union 3210 Teasley Ln., Denton, Texas Precinct Na. 1018 Krum ISD 12 Gregg Rd., Krum, Texas Precinct Nos. 4001, 4042 Denia Recreation Center 1001 Parvin St., Dentan, Texas Precirnct Nos. 4004, 4037 First Baptist Church of Denton 1100 Malone St., Denton, Texas Precinct No. 4007 Martin Luther King Jr. Rec. Center 1300 Wilson, Denton, Texas Precinct No. 4011 .,;.�� • Towne North Baptist Church 526 Hercules Ln., Denton, Texas Precinct No. 1011 McMath Middle School 1900 Jason Dr., Denton, Texas Precinct Nos. 1014, 1015, 4014, 4015 Guyer High School 7501 Teasley Ln., Denton, Texas Precinct Nos. 1019, 4016 Vivian Cockburn Municipal Building (Ponder Town Hall) 405 Shaffner St., Ponder, Texas Precinct No. 4002 North Lakes Recreation Center 2001 W. Windsor Dr., Denton, Texas Precinct Nos. 4005, 4038, 4040 Carriage House Assisted Living 1357 Bernard St., Denton, Texas Precinct Nos. 4008, 4013, 4039 Argyle City Hall 308 Denton St. E, Argyle, Texas Precinct No. 4017 s:\legal\our documents\ordinances\l4\bond election ordinance v4.dacx EXHIBIT B .� `� 1 � '; "�s�e �'�ll�r��r��a �e�i�-� � v��t�n �c���di�rl:� �� ��l ()1VI, � b� +� ��r� ti��: cl.�rt�.� �r�scC tic��+�� C���ccl: Monday—Friday Saturday Sunday Monday—Friday Steven E Copeland Government Cente_r 1400 FM 424, Cross Roads Justin Municipal Complex 415 N. College, Justin Denton Countv Elections Administration 701 Kimberly Dr., Denton Lake Dallas City Hall 212 Main Street, Lake Dallas October 20-24 8am—Spm October 25 7am-7pm October 26 lpm-6pm October 27—October 31 7am-7pm Little Elm Recreation Center 303 Main St., Little Elm Flower Mound Police and Municipal Court Building 4150 Kirkpatrick, Flower Mound Frisco Fire Station #7 330 W Stonebrook Pkwy., Frisco Double Oak Town Hall 320 Waketon, Double Oak Corinth City Hall 3300 Corinth Pkwy., Corinth San�er Church of Christ 400 N. Locust St. Sanger Svore Municipal Buildin� 100 Municipal Drive, Trophy Club Denton Civic Center 321 E. McKinney St., Denton Monday — Friday Saturday Monday — Tuesday Wednesday Thursday — Friday Monday — Friday Saturday Monday — Friday Monday — Thursday Sunday Monday — Friday Page9of9 Lewisville Municipal Annex 1197 W. Main Street, Lewisville Carrollton Public Librarv 4220 N. Josey, Carrollton HiEhland Villa�e Municipal Complex 1000 Highland Village Rd., Highland Village Ar�vle Town Hall --- 308 Denton St., Argyle Pilot Point Senior Center 310 S Washington St., Pilot Point The Colonv Government Center 6301 Main St., The Colony Krum ISD Administration Buildin� 1200 Bobcat Blvd, Krum October 20 — 24 October 25 October 27 — 28 October 29 October 30 — 31 October 20 — 24 October 25 October 27 — 31 October 20 — 23 October 26 October 27 — 31 8am — Spm 7am — 7pm 7am — 7pm 7am — Spm 7am — 7pm 8am — Spm 7am — 7pm 7am — 7pm 8am — Spm lpm — 6pm 7am — 7pm