2008-052f S:\Our Documenis\Ordinanees\OS\Reimbursemenl-Police DepLdoc
ORDINANCE NO. ~Z~Op -~~,2
AN ORDINANCE OF THE C[TY OF DENTON, TEXAS, TO DECLARE THE INTENT TO
REIMBURSE EXPENDITURES FROM THE UNRESERVED FUND BALANCE OF THE
GENERAL FUND WITH CERTIFICATES OF OBLIGATION WITH AN AGGREGATE
MAXIMUM PRINCIPAL AMOUNT EQUAL TO $500,000 SO THAT THE FACILITIES
DEPARTMENT CAN BEGIN THE RENOVATION OF SPACE AT THE CITY OF DENTON
POLICE DEPARTMENT; 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 related to the renovation of space at
the City of Denton Police Department, which was approved in the 2007-2008 Adopted Budget
and the 2007-08 Capital Improvement budget and are 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 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
obligations, with an aggregate maximum principal amount equal to $500,000 for the purpose of
paying the costs of the Project, as set forth in the attached 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 renovation of
space of the City of Denton Police Department 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 resolution 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 Unreserved
Fund Balance of 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 2007-
2008 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.
SECTTON 4. This Ordinance shall become effective immediately upon its passage and
approval.
S:AOur DocumentsVOrdinancesV08\Reimbursemcnt-Police DepLdoc
PASSED AND APPROVED this the ~~ day of %/ , 2008.
t
PERK R. McNEILL, M OR
ATTEST:
JENNIFER WALTERS, CITY SECRETARY
BY:
APPROVED Ag,~"O LEGA FORM:
EDWIN M. SNYDI?d2. CI~ATTORNEY
BY:
Page 2 of 2
Attachment A
Renovation Plans for the City of Denton Police Department
New Traffic Writing Room
New Larger Report Room
Traffic Sergeant's Office
Investigators Offices
Patrol Sergeants' -Six New Offices
Operations Captain's Office
Operations Lieutenants' -Three New Offices
Radio Storage and Batter Charging Room
Squad Room
Reserve Officers' Office
Environmental Enforcement Officer's Office
New Weight Training Room
Certificates of Obligation $500,000