2001-026S \Our Documents\Ordinances\0 l\Yorlum U~hty Financing Ordinance doc
ORDINANCE NO
AN ORDINANCE APPROVING AND AUTHORIZING THE EXPENDITURE OF FUNDS
UNDER THE CITY OF DENTON'S INFRASTRUCTURE FINANCING POLICY FOR
WATER AND WASTEWATER FACILITIES TO YORLUM CONSTRUCTION
MANAGEMENT LTD, SUCH FACILITIES TO BE EXTENDED TO A DEVELOPMENT
LOCATED AT THE INTERSECTION OF HIGHWAY 380 AND MASCH ROAD,
AUTHORIZING THE CITY MANAGER TO ENTER INTO AN AGREEMENT ON BEHALF
OF THE CITY, AND PROVIDING AN EFFECTIVE DATE
WHEREAS, pursuant to Resolution No R91-008 the C~ty of Denton has established an
Infrastructure Financing Pohcy to prowde for water and wastewater facility cost participation by
the C~ty (the "Program"), and
WHEREAS, the City Council has prowded for funding of the Program m ~ts 2000/2001
Annual Budget along w~th carryover funds from prior years, and
WHEREAS, Yorlum Construction Management Ltd (the 'Developer") has submttted a
request for City partxc~pat~on under the Program for costs associated w~th the construction of
water and wastewater lines (the "Pubhc Utility Factht~es") which will serve the C~ty and ~ts
development located at the intersection of H~ghway 380 and Masch Branch Road, commonly
known as 1314 Masch Branch Road (the "Development"), and
WHEREAS, the City Council of the C~ty of Denton, Texas finds that the Developer's
request for City participation ~s m the public interest and meets the reqmrements of the Program,
NOW, THEREFORE,
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS
SECTION 1 The C~ty Manager ~s hereby authorized to execute an agreement between
the City and Developer to prowde for C~ty participation m the costs of the Pubhc Ut~hty
Faclht~es m an mount not to exceed $219,000 00
SECTION 2 The City Manager ~s authorized to make the expenditures as set forth m
th~s ordmance
SECTION 3 This ordinance shall become effective ~mmed~ately upon ~ts passage and
approval
PASSED AND APPROVED th~s the C~-~--~ day of (..~4~_?A. Lg-, 2001
EULINE BROCK, MAYOR
ATTEST
JENNIFER WALTERS, CITY SECRETARY
APPROVED AS TO LEGAL FORM
HERBERT L PROUTY, CITY ATTORNEY
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