HomeMy WebLinkAbout28476-05-2026 - City Council - OrdinanceORDINANCE NO. 28476-05-2026
AN ORDINANCE FINDING THAT THE SPECIAL
ELECTION CONDUCTED ON MAY 2, 2026, ON THE
QUESTION OF THE ISSUANCE OF AD V ALO REM TAX
SUPPORTED PUBLIC SECURITIES WAS DULY AND
LAWFULLY HELD; DECLARING THE RESULTS OF THE
ELECTION; AND EXPRESSING OFFICIAL INTENT TO
REIMBURSE EXPENDITURES WITH PROCEEDS OF
FUTURE DEBT
WHEREAS, on February 10, 2026 , the City Council of the City of Fort Worth adopted Ordinance
28313-02-2026 Ordering an Election by the Qualified Voters of the City of Fort Worth, Texas , on May 2,
2026, on the Question of the Issuance of Ad V alorem Tax Supported Public Securities for the 2026 General
Obligation Debt Program; and
WHEREAS, all circum stances surrounding the calling of election, giving of notice (including , but
not limited to, dissemination of voter information documents conforming with Section 1251 .052(b) of the
Texas Government Code), holding of election, and return of ballots have been legally had and done; and
WHEREAS , a tabulation of the votes for and against each measure in each precinct and the sum
of the precinct totals has been prepared in accordance with State law; and
WHEREAS , more than fifty percent of the votes cast with regards to Propositions A, B, C, D, E,
and F were cast in favor of the listed propositions , meaning that public securities outlined in the listed
propositions may be issued in accordance with State law; and
WHEREAS , the City expects to pay expenditures from available funds in connection with the
public-securities-funded capital improvement program representing the listed propositions approved with
more than fifty percent of the votes cast (collectively, the "Project") prior to the issuance of the securities
by the City in connection with the :financing of the Project; and
WHEREAS, the City finds, considers , and declares that the reimbursement of the City for the
payment of such expenditures will be appropriate and consistent with the lawful objectives of the City and,
as such, chooses to declare its intention, in accordance with the provisions of Section 1.150-2 of Title 26 of
the Code of Federal Regulations, to reimburse itself for such payments at such time as it issues public
securities to finance the Project.
NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
FORT WORTH, TEXAS THAT:
SECTION 1.
The City Council officially finds and determines that the election on May 2, 2026, was duly and
lawfully held. •
Ordinance -2026 Public Securities Election Canvass Page 1 of 4
SECTION 2.
The City Council_ officially finds and determines that the following votes were cast at the election
held on May 2, 2026, at which election the following Propositions were submitted for consideration by
the resident , qualified electors of the City of Fort Worth who voted at the election:
FOR
AGAINST
PROPOSITION A
THIS IS -,t\ TAX INCREASE. The issuance of $511,480,700 of
public securities for streets and mobility infrastructure
improvements and the imposition of taxes sufficient to pay the
principal and interest on the public securities
Tarrant County Denton County Parker County Wise County Total
13,601 172 60 1 13,834
9,080 225 33 2
PROPOSITION B
THIS IS A TAX INCREASE. The issuance of $185,140,000 of
public securities for park, recreation, and open space
acquisitions and improvements and the imposition of taxes
sufficient to pay the principal and interest on the public
securities
9,340
Tarrant County Denton County Parker County Wise County Total
FOR 13,891 159 57 o 14,107
AGAINST 8,783 238 36 3
PROPOSITION C
THIS IS A TAX INCREASE. The issuance of $14,586,000 of
public securities for public library improvements and the
imposition of taxes sufficient to pay the principal and interest
on the public securities
9,060
Tarrant County Denton County Parker County Wise County Total
FOR 14,290 174 52 o 14,516
AGAINST 8,392 223 41 3 8,659
Ordinance -2026 Public Securities Election Canvass Page 2 of 4
PROPOSITION D
THIS IS A TAX INCREASE. The issuance of $10,000,000 of
public securities for affordable housing purposes and the
imposition of taxes sufficient to pay the principal and interest
on the public securities
Tarrant County Denton County Parker County Wise County Total
FOR 13,155 125 41 o 13,321
AGAINST
FOR
AGAINST
FOR
AGAINST
9,509 271 52 3
PROPOSITION E
TIDS IS A TAX INCREASE. The issuance of $63,919,300 of
public securities for police, fire, and emergency
communications facilities and the imposition of taxes
sufficient to pay the principal and interest on the public
securities
Tarrant County Denton County
14,637 242
7,980 154
Parker County
58
35
PROPOSITION F
Wise County
2
1
THIS IS A TAX INCREASE. The issuance of $59,874,000 of
public securities for animal care and shelter improvements
and the imposition of taxes sufficient to pay the principal and
interest on the public securities
9,835
Total
14,939
8,170
Tarrant County Denton County Parker County Wise County Total
13,454 157 55 1 13,667
9,180 239 37 2 9,458
SECTION 3.
The City Council officially finds, determines , and declares the result of said election to be
that the aforesaid Propositions A, B, C, D , E, and F so submitted that are shown above have received
a favorable majority vote; that such Propositions A , B, C, D, E, and F therefore have passed; that
the tax-supported public securities authorized by the aforesaid Propositions A, B, C, D, E, and F
may be issued; and that the ad valorem t ax supporting s aid public securities may be levied and
pledged by the City within the limits prescribed by law.
Ordinance -2026 Public Se curiti es Election Can vass Page 3 of 4
SECTION 4.
The City intends for the obligations approved by the voters at the election to be issued as
tax-exempt obligations under the provisions of the Internal Revenue Code of 1986. The City
expects to pay expenditures from available funds in connection with the design, planning ,
acquisition , and construction of the projects described in the propositions approved by the voters
prior to the issuance of obligations authorized at the election. The City Council hereby declares
that the reimbursement of the payment by the City of such expenditures will be appropriate and
consistent with the lawful objectives of the City and , as such, chooses to declare its intention, in
accordance with the provisions of Section 1.150-2 of the U.S. Treasury Regulations, to reimburse
itself for such payments at such time as it issues the obligations authorized by the voters at the
election for such purpose . All expenditures to be reimbursed will be capital expenditures; the
obligations authorized to be issued by the voters at the election shall be issued within 18 months
of the later of (i) the date the expenditures are paid or (ii) the date on which the property, with
respect to which such expenditures were made, is placed in service; and the foregoing
notwithstanding, no obligations will be issued on a date that is more than three years after the date
any expenditure which is to be reimbursed is paid.
SECTIONS.
This ordinance shall take effect upon adoption.
'\
Mattie P er
Mayor of the City of Fort Worth
ATTEST :
APPROVED AS TO FORM AND LEGALITY:
~!n~~mey
ADOPTED AND EFFECTNE: 1111.!.) 1/4 ~
(f
Ordinance -2026 Public Securities Election Canvass Page 4 of4