ORD 2013-35TOWN OF TROPHY CLUB
ORDINANCE NO. 2013-35
AN ORDINANCE OF THE TOWN OF TROPHY CLUB, TEXAS
AMENDING THE FY 2012-2013 BUDGET OF THE TOWN OF TROPHY
CLUB, TEXAS; PROVIDING FOR THE INCORPORATION OF
PREMISES; PROVIDING FOR AN AMENDMENT TO APPROPRIATE
FUNDS NEEDED FOR INTERFUND TRANSFERS FOR THE
RETIREMENT OF DEBT SERVICE; PROVIDING A SAVINGS AND
REPEALER CLAUSE; PROVIDING FOR SEVERABILITY; PROVIDING
FOR ENGROSSMENT AND ENROLLMENT; AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS, the Town of Trophy Club, Texas Fiscal Year 2012-2013 Budget was
adopted within the time and in the manner required by State Law; and
WHEREAS, in that Budget, the Town Council appropriated funds for annual
principal and interest debt service requirements; and
WHEREAS, the requirements for principal and interest were significantly
increased due to defeasance of the Series 2002-A General Obligation Bonds, Series
2010 Tax Notes, and Series 2007 Certificates of Obligation; and
WHEREAS, this amendment appropriates an interfund transfer of $123,384
from the General Fund to the Debt Service Fund; and
WHEREAS, this amendment appropriates an interfund transfer of $38,450 from
the Street Maintenance Sales Tax Fund to the Debt Service Fund ; and
WHEREAS, this amendment appropriates an interfund transfer of $183,131 from
the 4A Economic Development Tax Fund to the Debt Service Fund ; and
WHEREAS, this amendment appropriates in the Debt Service Fund $1,267,000
for the cost of the principal, and $6,036 for the cost of interest to defease the Series
2002-A General Obligation Bonds , Series 2010 Tax Notes, and Series 2007 Certificates
of Obligation ; and
WHEREAS, this amendment appropriates in the Capital Projects Fund $290,000
for expenditures relating to park improvements, facility planning , and the reconstruction
of Indian Creek; and
WHEREAS, this amendment appropriates in the 4B Economic Development Tax
Fund $50,000 to fund bridge painting at highways 114 at 170; and
WHEREAS, this amendment appropriates in the Grant Fund $165,000 for
construction expenditures of the roundabout and $387,000 for reimbursements from
Denton County related to the same project; and
ORD No 2013-35 Page 1 of 4
WHEREAS, the Town Council of the Town of Trophy Club, Texas hereby finds
and determines that it is prudent to amend specific line items due to the costs
associated with the retirement of debt service; and
WHEREAS, the Town Council of the Town of Trophy Club, Texas further finds
that the amendment, as set forth in Exhibit "A", will serve the public interest and is
necessary to support Town operations; and
WHEREAS, the Town Council of the Town of Trophy Club, Texas finds and
determines that the change in the Budget for the stated municipal purpose serves best
interests of the taxpayers, is necessary and warrants action at this time;
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE
TOWN OF TROPHY CLUB, TEXAS:
SECTION 1.
INCORPORATION OF PREMISES
That the above and foregoing premises are true and correct and are incorporated
herein and made a part hereof for all purposes.
SECTION 2.
AMENDMENT
The Town of Trophy Club, Texas, Fiscal Year 2012-2013 Budget is hereby
amended to fund the line items as stated in Exhibit "A", a copy of which is attached
hereto and incorporated herein. This Amendment No.1 (Exhibit "Aft) to the Original
Budget of the Town of Trophy Club, Texas, for the Fiscal Year 2012-2013 shall be
attached to and made part of the Original Budget by the Town Secretary and shall be
filed in accordance with State Law. This Ordinance is hereby adopted and shall
constitute the fourth amendment that has occurred since the October 1, 2012 effective
date of the Town's Fiscal Year 2012-2013 Budget.
SECTION 3.
SAVINGS AND REPEALER
That this Ordinance shall be cumulative of all other Ordinances of the Town
affecting the Fiscal Year 2012-2013 Budget of the Town and shall not repeal any of the
provisions of such Ordinances except in those instances where provisions of those
Ordinances are in direct conflict with the provisions of this Ordinance; whether such
Ordinances are codified or uncodified, and all other provisions of the Ordinances of the
ORO No 2013-35 Page 2 of4
Town of Trophy Club, codified or uncodified, not in conflict with the provisions of this
Ordinance, shall remain in full force and effect.
SECTION 4.
SEVERABILITY
If any section, article, paragraph, sentence, clause, phrase or word in this
Ordinance, or application thereof to any person or circumstance, is held invalid or
unconstitutional by a Court of competent jurisdiction, such holding shall not affect the
validity of the remaining portions of the Ordinance, and the Town Council hereby
declares it would have passed such remaining portions of the Ordinance despite such
invalidity, which remaining portions shall remain in full force and effect.
SECTION 5.
ENGROSSMENT AND ENROLLMENT
The Town Secretary of the Town of Trophy Club is hereby directed to engross
and enroll this Ordinance in the Ordinance records of the Town and to properly record
this Ordinance in accordance with the Town Charter.
SECTION 6.
EFFECTIVE DATE
This Ordinance shall take effect from and after its date of passage in accordance
with law, and it is so ordained.
PASSED AND APPROVED by the Town Council of the Town of Trophy Club,
Texas, this the 23 rd day of September, 2013.
Miyor, Connie White
Town of Trophy Club, Texas
Ta y Ar own Secretary
Town of Trophy Club, Texas
[SEAL]
~u£1Jd2$l
Patricia A. Adams, Town Attorney
Town of Trophy Club, Texas
ORO No 2013-35 Page 3 of 4
Exhibit "A"
Town of Trophy Club
Budget Amendment No.4
The Fiscal Year 2012-2013 General Fund Expenditure Budget Increase specified below
is a result of costs associated with additional debt service requirements required for
debt defeasance and will be funded from appropriations from the Town's fund balances.
Current Budget
General Fund
Transfer to Debt Service
Street Maintenance Fund
Transfer to Debt Service
EDC 4A Fund
Transfer to Debt Service
Debt Service Fund
Bond Principal
Debt Service Fund
Bond Interest
Capital Projects Fund
Park improvements
Facility planning
Indian Creek
EDC 4B Fund
Bridge Painting
Grant Fund
Construction
Grant Revenue
$ 660,000
$0
$ 312,245
$1,027,000
$ 445,381
$0
$0
$0
$ 63,193
$0
$0
Amendment
$ 123,384
$ 38,450
$ 183,131
$ 1,267,000
$ 6,036
$ 70,000
$ 35,000
$ 185,000
$ 50,000
$ 165,000
$ 387,000
Amended Budget
$ 783,284
$ 38,450
$ 495,376
$ 2,294,000
$ 451,417
$ 70,000
$ 35,000
$185,000
$113,193
$ 165,000
$ 387,000
ORO No 2013-35 Page 4 of 4