21-58821-588
ORDINANCE NO.
AN ORDINANCE
DRECTING THE PUBLICATION OF NOTICE OF INTENTION TO ISSUE
$30,180,000 m PRINCIPAL AMOUNT OF CERTIFICATES OF OBLIGATION
OF THE CITY OF DENTON FOR GENERAL GOVERNMENT AND SOLID WASTE PROJECTS;
AND PROVIDING FOR AN EFFECTIVE DATE
THE STATE OF TEXAS
COUNTY OF DENTON
CITY OF DENTON
WHEREAS, it is deemed necessary and advisable that the Notice of Intention to Issue Certificates
of Obligation be given as hereinafter provided; NOW, THEREFORE,
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS:
SECTION 1. That attached hereto is a form of "NOTICE OF INTENTION TO ISSUE
CERTIFICATES OF OBLIGATION OF THE CITY OF DENTON", the form and substance of which are
hereby adopted and approved, and made a part of this Ordinance for all purposes.
SECTION 2. That the City Secretary shall cause said NOTICE, in substantially the form attached
hereto, to be published once a week for two consecutive weeks in a newspaper of general circulation in the
City, with the date of the first publication to be at least forty-six (46) days before the date tentatively set for
the passage of the Ordinance authorizing the issuance of such Certificates of Obligation. And further that
the City Secretary shall cause said NOTICE, in substantially the form attached hereto, to be posted
continuously on the City’s Internet website for at least 45 days before the date tentatively set for the passage
of the Ordinance authorizing the issuance of the Certificates of Obligation.
SECTION 3. That for purposes of Texas Local Government Code, Subchapter C of Chapter 271,
as amended, the City has currently designated $475,758,146 in principal amount of the following
$704,835,000 of outstanding debt obligations as self-supporting debt, provided that such designated amount
may be changed from time to time:
•
•
•
•
•
•
•
•
•
Certificates of Obligation, Series 2011
General Obligation Refunding and Improvement Bonds, Series 2011
Certificates of Obligation, Series 2012
General Obligation Refunding and Improvement Bonds, Series 20 12
Certificates of Obligation, Series 2013
General Obligation Refunding and Improvement Bonds, Series 2013
Certificates of Obligation, Series 2014
General Obligation Refunding and Improvement Bonds, Series 2014
General Obligation Refunding Bonds, Series 2014
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Certificates of Obligation, Series 2015
General Obligation Refunding and Improvement Bonds,
General Obligation Refunding Bonds, Series 2015
Certificates of Obligation, Series 2016
General Obligation Refunding and Improvement Bonds,
General Obligation Refbnding Bonds, Series 2016
Certificates of Obligation, Series 2017
General Obligation Refunding and Improvement Bonds,
Certificates of Obligation, Series 2018
General Obligation Bonds, Series 2018
Certificates of Obligation, Series 2018A
Certificates of Obligation, Series 2019
General Obligation Refunding and Improvement Bonds,
Certificates of Obligation, Series 2020
General Obligation Refunding and Improvement Bonds,
General Obligation Refunding Bonds, Series 2020A
Extendable Commercial Paper Notes, Series A
Series 20 15
Series 20 16
Series 20 17
Series 20 19
Series 2020
SECTION 4. That this Ordinance is intended to satisfy the official intent requirements set forth in
section 1.150-2 of the rules and regulations of the United States Department of the Treasury.
SECTION 5. That this Ordinance shall become effective immediately upon its passage and
approval.
Th, m,ti,„ t, ,pp„„, thi, „di„,„„ w„ m,d, by ao\MqthK,„d „,,„d,d by
d;my®. The ordinance was passed and approved by the following vote [1 –a :
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:
Aye\r
\/7
V/
\r
\/
VL/
Nay Abstain Absent
PASSED AND APPROVED this the 20th day of April, 2021.
EN
ATTEST :
ROSA RIOS, CITY SECRETARY
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a
APPROVED AS TO LEGAL FORM:
AARON LEAL, CITY ATTORNEY
Digitally signed by Mack
„.. d„L%h-$Reinwand
Date: 2021.04.14 11 :40:28
;l001
THE STATE OF TEXAS
COUNTY OF DENTON
CITY OF DENTON
NOTICE OF INTENTION
TO ISSUE CERTIFICATES OF OBLIGATION
OF THE CITY OF DENTON
(GENERAL GOVERNMENT AND SOLID WASTE PROJECTS)
THE CITY OF DENTON, in Denton County, Texas, hereby gives notice of its intention to issue
CITY OF DENTON CERTIFICATES OF OBLIGATION, in accordance with the Certificate of Obligation
Act of 1971, as amended and codified, and other applicable laws, in the maximum principal amount of
$30, 180,000 for the purpose of paying all or a portion of the City's contractual obligations incurred pursuant
to contracts for the purchase, construction and acquisition of certain real and personal property, to wit:
(a) constructing and improving streets, including landscaping, drainage, utility line relocations and the
acquisition of land and rights-of-way therefor; (b) acquisition of vehicles and equipment for the fire, police,
building inspections, community improvement services, animal services, streets and traffic control,
facilities management, and parks and recreation departments; (c) renovations to, and equipping of, existing
municipal buildings, including the acquisition and installation of replacement heating, venting and air
conditioning equipment, roofing and flooring; (d) acquisition and installation of technology equipment
including computer equipment and software for various municipal departments; (e) constructing,
reconstructing, renovating, installing and equipping facility for homeless and indigent shelter and services;
(f) renovations to, expansion of, and equipping existing municipal vehicle maintenance facility; and
(g) acquisition of vehicles and equipment for, and acquiring, constructing, installing and equipping
additions, extensions, renovations and improvements to, the City’s solid waste disposal system; and also for
the purpose of paying all or a portion of the City's contractual obligations for professional services,
including engineers, architects, attorneys, map makers, auditors, and financial advisors, in connection with
said projects and said Certificates of Obligation. The City proposes to provide for the payment of such
Certificates of Obligation from the levy and collection of ad valorem taxes in the City as provided by law,
and from certain surplus revenues (not to exceed $1,000 in aggregate amount) derived by the City from the
ownership and operation of the Cityts Utility System (consisting of the City's combined waterworks system,
wastewater system and electric light and power system). The City Council of the City tentatively proposes
to authorize the issuance of such Certificates of Obligation, in one or more series, at a meeting commencing
at 6:30 p.m. on June 8, 2021, in the City Council room at the Municipal Building (City Hal1), 215 E.
McKinney, Denton, Texas. In the event that the City Council will be unable to meet at the Municipal
Building (City Hall) on June 8, 202 1, the City will post on its website, www.cityofdenton.com, information
for persons to attend the meeting by telephone, teleconference or other electronic means.
The maximum interest rate for such Certificates of Obligation will not exceed the maximum legal
interest rate, the maximum maturity date for such Certificates of Obligation is February 15, 204 1, and the
estimated combined principal and interest required to pay such Certificates of Obligation to be authorized
on time and in full is $35,549,246.
The City has separately provided notice of its intention to also issue additional Certificates of
Obligation in the maximum principal amount of $130,660,000 for water system, wastewater system and
electric system projects (the “Utility System Certificates of Obligation”). The maximum interest rate for
the Utility System Certificates of Obligation will not exceed the maximum legal interest rate, the maximum
maturity date for the Utility System Certificates of Obligation is February 15, 205 1, and the estimated
combined principal and interest required to pay the Utility System Certificates of Obligation to be
authorized on time and in full is $168,500,007.
The City currently has outstanding debt obligations secured by and payable from ad valorem taxes
(not including 8475,758,146 principal amount of outstanding debt obligations the City has designated as
self-supporting debt) equal to 8229,076,854 in principal amount and $294,578,569 in combined principal
and interest required to pay such outstanding debt obligations on time and in full. The City reasonably
expects to pay self-supporting debt obligations from revenue sources other than ad valorem taxes, provided,
however, that in the event such self-supporting revenue sources are insufficient to pay debt service, the City
is obligated to levy ad valorem taxes to pay such debt obligations. Ordinance No. 21-588 designating
certain outstanding debt obligations of the City as self-supporting for purposes of Texas Local Government
Code, Subchapter C of Chapter 271 (“Chapter 271”) is available upon request to the City at the address
noted above.
CITY OF DENTON, TEXAS
By: Rosa Rios, City Secretary