2002-396ORDINANCE NO. ~)~-,~¢
AN ORDINANCE TO DECLARE THE INTENT TO REIMBURSE EXPENDITURES FROM
THE UNRESERVED RETAINED EARNINGS OF THE TECHNOLOGY SERVICES FUND
WITH CERTIFICATES OF OBLIGATION FOR REPLACEMENT OF PUBLIC SAFETY
COMMUNICATIONS EQUIPMENT; DECLARING AN EMERGENCY AND AMENDING
THE 2002-2003 CAPITAL IMPROVEMENT BUDGET; AND PROVIDING AN EFFECTIVE
DATE. (PROJECT- $740,000 FOR PUBLIC SAFETY COMMUNICATION EQUIPMENT)
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 in connection with the purchase of
communication equipment for public safety more fully described in Attachment "A" (the
"Project"); 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; and
WHEREAS, Sec. 8.08 of the Denton City Charter provides that in case of grave public
necessity, emergency expenditures to meet tmusual and unforeseen conditions, which could not
by diligent thought and attention have been included in the original budget, may be authorized by
the affirmative vote of at least five (5) of the members of the council as an amendment to the
original budget; and
WHEREAS, the City Council finds that there is a grave public necessity and an
unforeseen emergency exists which requires amendment of the 2002-2003 City of Denton
Budget because it was unforeseeable that the radio manufactnrer would discontinue supplying
parts to maintain public safety radios, which caused the need to purchase new radio equipment to
preserve the public safety, such situation not being known to the City at the time the 2002-2003
Budget was adopted, NOW, THEREFORE,
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS:
SECTION 1: The findings and recitations in the preamble of this ordinance are
incorporated herein by reference.
SECTION 1: The Issuer reasonably expects to incur debt, as one or more series of
obligations, with an aggregate maximum principal amount equal to $740,000.00 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 resolution for all purposes.
SECTION2: All costs to be reimbursed will be for communication equipment
expenditures. 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. All amounts expended from the Unreserved
Reta'med Earnings for the Projects to pay any costs of the Projects shall be reimbursed from
Certificate of Obligation proceeds within the 2002-2003 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
SECTION 4: The 2002-2003 budget of issuer is amended up to $740,000.00 to provide
for adjustments to budgeted appropriations in the Technology Services Fund.
SECTION 5: That the City Secretary is directed to attach a copy of this ordinance to the
original budget and cause this amendment to be published once in the Denton Record-Chronicle.
SECTION 6: This ordinance shall become effective immediately upon its passage and
approval.
/3__
PASSED AND APPROVED thisthe //~-~t~ dayof ~t~./ ,2002.
ATTEST:
JENNIFER WALTERS, CITY SECRETARY
EULINE BROCK, MAYOR
APPROVED AS TO LEGAL FORM:
HERBERT L. PROUTY, CITY ATTORNEY
BY: ~"
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S:\Our Documents~Ordinances\02\Tech Services Fund Resolution.doc
ATTACHMENT "A"
CITY OF DENTON, TEXAS
ANNUAL PROGRAM OF SERVICES
AMMENDED 2002-07 CAPITAL IMPROVEMENT PROGRAM
TECHNOLOGY SERVICES FUND
TOTAL
REQUIRED AID TOTAL
OTHER * CITY IN PROJECT
YEAR DIV/DEPT PROJECT NAME FUNDING CONST. COSTS
2002-03 Tech Tech Plan II $1,000,000 $ 1,000,000 $ $ 1,000,000
Tech Public Safety Communications 740,000 740,000 740,000
TOTAL $1,740,000 $ 1,740,000 $ $ 1,740,000
2002-07ciP
11/22/02
10:54 AM "Dedicated to Quality Service"