21-356ORDINANCE NO. 21-356
AMENDING
ORDINANCE NO. 2021-070
WHEREAS, pursuant to an Ordinance Establishing the City of Denton Utility System
Extendable Commercial Paper Financing Program and Authorizing Utility System Revenue
Extendable Commercial Paper Notes, Series A, adopted on January 12, 2021 (the “ECP
Ordinance“) by the City Council of the City of Denton (the “City Council:’), the City Council has
authorized to be outstanding the following described obligations of the City of Denton (the “ City”
or the “Issuer“)'.
City of Denton Utility System Revenue Extendable Commercial Paper
Notes, Series A (Tax-Exempt) and City of Denton Utility System Revenue
Extendable Commercial Paper Notes, Series A (Taxable), in the aggregate original
principal amount not to exceed $100,000,000 at any time (collectively, the “ECP
Series A Notes”)', and
WHEREAS, pursuant to an Ordinance adopted by the City Council on February 23, 2021
(the “ECP Amending Ordinance“) , the ECP Ordinance has been amended to authorize the issuance
of ECP Series A Notes in the aggregate original principal amount not to exceed $300,000,000 (the
“ECP Ordinance Amendment”)', and
WHEREAS, pursuant to Ordinance No. 2021-070 adopted by the City Council on
January 12, 2021 and captioned:
“AN ORDINANCE CONSIDERING ALL MATTERS INCIDENT AND
RELATED TO THE ISSUANCE, SALE AND DELIVERY OF UP TO
$lOO,000,000 IN PRINCIPAL AMOUNT OF “CITY OF DENTON UTILITY
SYSTEM REVENUE REFUNDING BONDS, SERIES 2021”; AUTHORIZING
THE ISSUANCE OF THE BONDS; DELEGATING THE AUTHORITY TO
CERTAIN CITY OFFICIALS TO EXECUTE CERTAIN DOCUMENTS
RELATING TO THE SALE OF THE BONDS; APPROVING AND
AUTHORIZING INSTRUMENTS AND PROCEDURES RELATING TO SAID
BONDS; ENACTING OTHER PROVISIONS RELATING TO THE SUBJECT:
AND PROVIDING AN EFFECTIVE DATE”
(the “ Bond Ordinance“) , the City Council authorized the issuance of up to $ 100,000,000 aggregate
principal amount of “City of Denton Utility System Revenue Refunding Bonds, Series 2021”
e'Refunding Bonds'’) to refund all or part of the ECP Series A Notes in accordance with the terms
of the Bond Ordinance; and
WHEREAS, the City Council now desires to amend the Bond Ordinance to authorize the
issuance of up to $300,000,000 aggregate principal amount of Renmding Bonds to refund all or
Page 1
part of the ECP Series A Notes; and
WHEREAS, no Refunding Bonds have been issued to date under the Bond Ordinance; and
WHEREAS, the meeting was open to the public and public notice of the time, place and
purpose of said meeting was given pursuant to Chapter 551, Texas Government Code; NOW,
THEREFORE,
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS :
Section 1. Recitals; Definitions. The statements, findings, representations, and
determinations set forth in the recitals to this Ordinance are hereby incorporated into and made a
part of this Ordinance for all purposes. Capitalized terms not defined herein have the same meaning
as assigned in the Bond Ordinance.
Section 2. Amendments to Bond Ordinance. The Bond Ordinance will be amended
as follows in this Section. The amendments shall take effect upon the effective date of the ECP
Ordinance Amendment pursuant to the terms of the ECP Amending Ordinance. Any and all of
the terms and provisions of the Bond Ordinance shall, except as amended hereby, remain in full
force and effect.
(A)
as follows:
Section 2(b) of the Bond Ordinance is hereby amended and restated in its entirety
(b) Amount; Purpose. The bonds of the Issuer are hereby authorized to be
issued and delivered in one or more Series in the maximum aggregate principal
amount (determined without regard to premium or discount affecting the sale price)
of $300,000,000 for the public purpose of mfunding the Refunded Notes, and to
pay the costs associated with the issuance of the Bonds.
(B)
as follows:
Section 3(a)(i) of the Bond Ordinance is hereby amended and restated in its entirety
(1)the aggregate original principal amount of the Bonds shall not exceed
$300,000,000;.
Section 3. Further Procedures. The Mayor and Mayor Pro Tem, the Pricing Officers
and the City Secretary, and all other officers, employees and agents of the Issuer are hereby
authorized and directed, jointly and severally, to do any and all things and to execute and deliver
any and all documents which they may deem necessary or advisable in order to effectuate the
purposes of this Ordinance and the Bond Ordinance. In addition, the Mayor and Mayor Pro Tem,
the City Secretary, the Pricing Officers, and Bond Counsel are hereby authorized to approve,
subsequent to the date of adoption of this Ordinance, any amendments to the above named
documents, and any technical amendments to this Ordinance as may be required by a Rating
Agency as a condition to the granting or maintaining of a rating on the Bonds acceptable to a
Pricing Officer, or as may be required by the Office of the Attorney General of the State in
Page 2
connection with the approval of this Ordinance, the Bond Ordinance or the Bonds or to correct any
ambiguity or mistake or properly or more completely document the transactions contemplated and
approved by this Ordinance.
The motion to approve this Ordinance was made by %<s=M ,-S and seconded by
fI>c\n’ I cenA K . This Ordinance was passed and approved by the following vote [b – ]_] :
Aye
I \L
a‘
./
a
a/
I
Nay Abstain Absent
Mayor Gerard Hudspeth:
Birdia Johnson, District 1 :
Connie Baker, District 2:
Jesse L. Davis, District 3 :
John Ryan, District 4:
Deb Armintor, At Large Place 5 :
Paul Meltzer, At Large Place 6:
b/
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK.]
Page 3
PASSED, APPROVED AND EFFECTIVE this 23rd day of February, 2021.
edDwiG
/
ATTEST :
ROSA RIOS, CITY SECRETARY
/Zu
tIll I////DE/V_raj ‘
APPROVED AS TO LEGAL FORM:
AARON LEAL, CITY ATTORNEY
Page 4
CERTIFICATE FOR ORDINANCE
THE STATE OF TEXAS '
COUNTY OF DENTON '
CITY OF DENTON '
We, the undersigned officers of said City, hereby certify as follows:
1. The City Council of said City convened in a SPECIAL CALLED MEETING ON THE 23RD
DAY OF FEBRUARY, 2021, at the Municipal Building (City Hall), and the roll was called of the duly
constituted officers and members of said City Council, to-wit:
Gerard Hudspeth, Mayor John Ryan
Birdia Johnson Deb Armintor
Connie Baker Paul Meltzer
Jesse L. Davis
and all of said persons were present, thus constituting a quorum. Whereupon, among other business, the
following was transacted at said Meeting: a written
ORDINANCE AMENDING ORDINANCE NO. 2021-070
was duly introduced for the consideration of said City Council and duly read. It was then duly moved and
seconded that said Ordinance be passed; and, after due discussion, said motion, carrying with it the passage
of said Ordinance, prevailed and carried by the following vote:
AYES: 6 NOES: 1 ABSTENTIONS: 0
2. That a true, full, and correct copy of the aforesaid Ordinance passed at the Meeting described in
the above and foregoing paragraph is attached to and follows this certificate; that said Ordinance has been
duly recorded in said City Council's minutes of said Meeting; that the above and foregoing paragraph is a
true, full, and correct excerpt from said City Council's minutes of said Meeting pertaining to the passage of
said Ordinance; that the persons named in the above and foregoing paragraph are the duly chosen, qualified,
and acting officers and members of said City Council as indicated therein; and that each of the officers and
members of said City Council was duly and sufficiently notified officially and personally, in advance, of
the time, place, and purpose of the aforesaid Meeting, and that said Ordinance would be introduced and
considered for passage at said Meeting; and that said Meeting was open to the public, and public notice of
the time, place, and purpose of said meeting was given, all as required by Chapter 551, Texas Government
Code.
3. That the Ordinance has not been modified, amended or repealed and is in full force and effect
on and as of the date hereof.
4. That the Mayor of said City has approved, and hereby approves, the aforesaid Ordinance; that
the Mayor and the City Secretary of said City have duly signed said Ordinance; and that the Mayor and the
City Secretary of said City hereby declare that their signing of this certificate shall constitute the signing of
the attached and following copy of said Ordinance for all purposes.
SIGNED AND SEALED this
Mayor
(SEAL)
We, the undersigned, being respectively the City Attorney and the Bond Attorneys of the City of
Denton, Texas, hereby certify that we prepared and approved as to legality the attached and following
Ordinance prior to its passage as aforesaid.
City atoM
4f.#;Hun
Certificate for Ordinance
City of Denton Utility System Revenue Refunding Bonds, Series 2021
February 26, 2021
Page 1
ORDINANCE NO. 21-356
AMENDING
ORDINANCE NO. 2021-070
WHEREAS, pursuant to an Ordinance Establishing the City of Denton Utility System
Extendable Commercial Paper Financing Program and Authorizing Utility System Revenue
Extendable Commercial Paper Notes, Series A, adopted on January 12, 2021 (the “ECP
Ordinance”) by the City Council of the City of Denton (the “City Council”), the City Council has
authorized to be outstanding the following described obligations of the City of Denton (the “City”
or the “Issuer”):
City of Denton Utility System Revenue Extendable Commercial Paper
Notes, Series A (Tax-Exempt) and City of Denton Utility System Revenue
Extendable Commercial Paper Notes, Series A (Taxable), in the aggregate original
principal amount not to exceed $100,000,000 at any time (collectively, the “ECP
Series A Notes”); and
WHEREAS, pursuant to an Ordinance adopted by the City Council on February 23, 2021
(the “ECP Amending Ordinance”), the ECP Ordinance has been amended to authorize the issuance
of ECP Series A Notes in the aggregate original principal amount not to exceed $300,000,000 (the
“ECP Ordinance Amendment”); and
WHEREAS, pursuant to Ordinance No. 2021-070 adopted by the City Council on
January 12, 2021 and captioned:
“AN ORDINANCE CONSIDERING ALL MATTERS INCIDENT AND
RELATED TO THE ISSUANCE, SALE AND DELIVERY OF UP TO
$100,000,000 IN PRINCIPAL AMOUNT OF “CITY OF DENTON UTILITY
SYSTEM REVENUE REFUNDING BONDS, SERIES 2021”; AUTHORIZING
THE ISSUANCE OF THE BONDS; DELEGATING THE AUTHORITY TO
CERTAIN CITY OFFICIALS TO EXECUTE CERTAIN DOCUMENTS
RELATING TO THE SALE OF THE BONDS; APPROVING AND
AUTHORIZING INSTRUMENTS AND PROCEDURES RELATING TO SAID
BONDS; ENACTING OTHER PROVISIONS RELATING TO THE SUBJECT;
AND PROVIDING AN EFFECTIVE DATE”
(the “Bond Ordinance”), the City Council authorized the issuance of up to $100,000,000 aggregate
principal amount of “City of Denton Utility System Revenue Refunding Bonds, Series 2021”
(“Refunding Bonds”) to refund all or part of the ECP Series A Notes in accordance with the terms
of the Bond Ordinance; and
WHEREAS, the City Council now desires to amend the Bond Ordinance to authorize the
Page 2
issuance of up to $300,000,000 aggregate principal amount of Refunding Bonds to refund all or
part of the ECP Series A Notes; and
WHEREAS, no Refunding Bonds have been issued to date under the Bond Ordinance; and
WHEREAS, the meeting was open to the public and public notice of the time, place and
purpose of said meeting was given pursuant to Chapter 551, Texas Government Code; NOW,
THEREFORE,
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS:
Section 1. Recitals; Definitions. The statements, findings, representations, and
determinations set forth in the recitals to this Ordinance are hereby incorporated into and made a
part of this Ordinance for all purposes. Capitalized terms not defined herein have the same meaning
as assigned in the Bond Ordinance.
Section 2. Amendments to Bond Ordinance. The Bond Ordinance will be amended
as follows in this Section. The amendments shall take effect upon the effective date of the ECP
Ordinance Amendment pursuant to the terms of the ECP Amending Ordinance. Any and all of
the terms and provisions of the Bond Ordinance shall, except as amended hereby, remain in full
force and effect.
(A) Section 2(b) of the Bond Ordinance is hereby amended and restated in its entirety
as follows:
(b) Amount; Purpose. The bonds of the Issuer are hereby authorized to be
issued and delivered in one or more Series in the maximum aggregate principal
amount (determined without regard to premium or discount affecting the sale price)
of $300,000,000 for the public purpose of refunding the Refunded Notes, and to
pay the costs associated with the issuance of the Bonds.
(B) Section 3(a)(i) of the Bond Ordinance is hereby amended and restated in its entirety
as follows:
(i) the aggregate original principal amount of the Bonds shall not exceed
$300,000,000.
Section 3. Further Procedures. The Mayor and Mayor Pro Tem, the Pricing Officers
and the City Secretary, and all other officers, employees and agents of the Issuer are hereby
authorized and directed, jointly and severally, to do any and all things and to execute and deliver
any and all documents which they may deem necessary or advisable in order to effectuate the
purposes of this Ordinance and the Bond Ordinance. In addition, the Mayor and Mayor Pro Tem,
the City Secretary, the Pricing Officers, and Bond Counsel are hereby authorized to approve,
subsequent to the date of adoption of this Ordinance, any amendments to the above named
documents, and any technical amendments to this Ordinance as may be required by a Rating
Page 3
Agency as a condition to the granting or maintaining of a rating on the Bonds acceptable to a
Pricing Officer, or as may be required by the Office of the Attorney General of the State in
connection with the approval of this Ordinance, the Bond Ordinance or the Bonds or to correct any
ambiguity or mistake or properly or more completely document the transactions contemplated and
approved by this Ordinance.
The motion to approve this Ordinance was made by Jesse L. Davis and seconded by Connie
Baker. This Ordinance was passed and approved by the following vote [6 – 1]:
Aye Nay Abstain Absent
Mayor Gerard Hudspeth: X
Birdia Johnson, District 1: X
Connie Baker, District 2: X
Jesse L. Davis, District 3: X
John Ryan, District 4: X
Deb Armintor, At Large Place 5: X
Paul Meltzer, At Large Place 6: X
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK.]
PASSED, APPROVED AND EFFECTIVE this 23rd day of February, 2021.
mTRbnmrNhl–a
ATTEST:
ROSA RIOS, CITY SECRETARY
aA/,J
APPROVED AS TO LEGAL FORM:
AARON LEAL, CITY ATTORNEY