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Legislation #: 120359 Introduction Date: 4/12/2012
Type: Ordinance Effective Date: none
Sponsor: None
Title: Estimating revenues in the amount of $2,800,054.00 in Fund 3429, the 2012A Special Obligation Bond Fund and appropriating the same from the sale of Special Obligation Bonds, Series 2012A; estimating revenues in the amount of $44,831,245.00 in Fund 3430, the 2012B Special Obligation Taxable Bond Fund and appropriating the same from the sale of Special Obligation Taxable Refunding and Improvement Bonds, Series 2012B; estimating revenues in the amount of $518,489.00 in Fund 3980, the George E. Wolf Parking Garage Bond Fund, representing interest on investments; appropriating $3,006,245.00 in the George E. Wolf Parking Garage Bond Fund and appropriating $1,545,000.00 in the PIEA Taxable Kemper Garage Bond Fund both as transfers to Fund 3430, 2012B Special Obligation Taxable Bond Fund; designating requisitioning authorities; authorizing the Director of Finance to close project accounts upon project completion and recognizing an emergency.

Legislation History
DateMinutesDescription
4/12/2012 Filed by the Clerk's office
4/12/2012 Referred to Finance, Governance & Ethics Committee
4/18/2012 Advance and Do Pass as a Committee Substitute, Debate
4/19/2012 Passed as Substituted

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http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=120359 Video Link 0K http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=120359
120359.pdf Authenticated 2521K Authenticated
Special Obligation 2012A 2012B Fiscal Note.xlsx Fiscal Note 29K Fiscal Note
Revised SO 2012A B E A Admin Approp 4-12-12.xlsx Other 40K Revise SO 2012A & B Admin Approp
Revised SO 2012A B E A Fact Sheet.xlsx Fact Sheet 63K Revised SO 2012A & 2012B Fact Sheet
120359 Fact Sheet.xlsx Fact Sheet 60K Fact Sheet
SO 2012A B E A Admin Approp (Recovered).xlsx Other 40K SO 2012A & 2012B E & A Admin & Approp

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COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 120359

 

Estimating revenues in the amount of $2,800,054.00 in Fund 3429, the 2012A Special Obligation Bond Fund and appropriating the same from the sale of Special Obligation Bonds, Series 2012A; estimating revenues in the amount of $44,831,245.00 in Fund 3430, the 2012B Special Obligation Taxable Bond Fund and appropriating the same from the sale of Special Obligation Taxable Refunding and Improvement Bonds, Series 2012B; estimating revenues in the amount of $518,489.00 in Fund 3980, the George E. Wolf Parking Garage Bond Fund, representing interest on investments; appropriating $3,006,245.00 in the George E. Wolf Parking Garage Bond Fund and appropriating $1,545,000.00 in the PIEA Taxable Kemper Garage Bond Fund both as transfers to Fund 3430, 2012B Special Obligation Taxable Bond Fund; designating requisitioning authorities; authorizing the Director of Finance to close project accounts upon project completion and recognizing an emergency.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the revenue in the following accounts of Fund 3429, Special Obligation, Series 2012A Bond Fund is hereby estimated in the following amounts:

 

AL-3429-120000-590000 Proceeds from Sale of Bonds $2,608,650.00

AL-3429-120000-485100 Reoffering Premium 191,404.00

TOTAL $2,800,054.00

 

Section 2. That the sum of $2,800,054.00 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 3429, Special Obligation, Series 2012A Fund to the following accounts:

 

AL-3429-129632-B Original Issue Discount $ 134,075.00

AL-3429-129620-B Bond Issuance Expense 61,000.00 AL-3429-129631-B Underwriter Discount 89,887.00

AL-3429-129686-B 2012A Rebate Subaccount 5,000.00

AL-3429- 878013-B Public Infrastructure 2,002,704.00

AL-3429-181320-B Revenue System 24,794.00

AL-3429-129998-X Transfer to Fund 1000 (Capitalized Interest) 482,594.00

TOTAL $2,800,054.00

 

Section 3. That the appropriation in the following account of Fund. No. 3290, the PIEA Taxable Kemper Garage Bond Fund is hereby reduced by the following amount:

 

AL-3290-129611-B         PIEA 2001 Debt Service Reserve                 $1,545,000.00

 


Section 4. That the sum of $1,545,000.00 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 3290, the PIEA Taxable Kemper Garage Bond Fund to the following account:

 

AL-3290-129998-903430 Transfer to 2012B Special Obligation Taxable $ 1,545,000.00

Bond Fund

 

Section 5. That the revenue in the following account of Fund 3980, the George E. Wolf Parking Garage Bond Fund is hereby estimated in the following amount:

 

AL-3980-120000-460000     Interest on Investments               $518,489.00

 

Section 6. That the appropriation in the following account of Fund. 3980, the George E. Wolf Parking Garage Bond Fund is hereby reduced by the following amount:

 

AL-3980-129611-B              KCMAC 2001A Debt Service Reserve             $2,487,823.47

 

Section 7. That the sum of $3,006,245.00 is hereby appropriated from the Unappropriated Fund Balance of the Fund No. 3980, George E. Wolf Parking Garage Bond Fund, Series 2001A:

 

AL-3980-129998-903430 Transfer to 2012B Special Obligation Taxable $3,006,245.00

Bond Fund

 

Section 8. That the revenue in the following accounts of Fund 3430, 2012B Special Obligation Taxable Bond Fund is hereby estimated in the following amounts:

 

AL-3430-120000-590000 Proceeds from Sale of Bonds $40,280,000.00

AL-3430-120000-503980 Transfer from KCMAC 2001A DSR 2,487,756.00

AL-3430-120000-503290 Transfer from PIEA 2001A DSR 1,545,000.00

AL-3430-120000-503980 Transfers from KCMAC 2001A 518,489.00

TOTAL $44,831,245.00

Section 9. That the sum of $44,831,245.00 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 3430, 2012B Special Obligation Taxable Bond Fund to the following accounts:

 

AL-3430-129632-B Original Issue Discount $ 310,603.00

AL-3430-129620-B Bond Issuance Expense 211,000.00 AL-3430-129631-B Underwriter Discount 298,345.00

AL-3430-129686-B 2012B Rebate Subaccount 5,000.00

AL-3430-129671-G Partial Defeasance of the East Village Note 4,400,000.00

AL-3430-108047-B Downtown Residential 10,001,251.00

AL-3430-648045-B 63rd and Prospect Redevelopment 2,428.00

AL-3430-129998-X Transfer to Fund 1000 (Capitalized Interest) 1,285,399.00

AL-3430-129671-G Defeasance of Series PIEA 2001 11,212,965.00

AL-3430-129671-G Defeasance of Series KCMAC 2001A 14,640,993.00

AL-3430-129671-G Defeasance of Series Spec Obl.2010B 2,463,261.00

TOTAL $44,831,245.00

Section 10. That the Director of Finance is hereby designated as requisitioning authority for Account Nos. AL-3429-129631, AL-3429-129620, AL-3429-129632, AL-3429-129998, AL-3429-129686, AL-3430-129631, AL-3430-129620, AL-3430-129632, AL-3430-129998, AL-3430-129671, AL-3290-129998-903430, AL-3980-129998-903430, and AL-3430-129686, that the Director of Information Technology is designated requisitioning authority for Account No. AL-3429-181320, that the Director of Capital Projects is designated requisitioning authority for Account No. AL-3429-878013, that the City Manager is designated requisitioning authority for Account No. AL-3430-108047 and that the Director of City Planning and Development is designated requisitioning authority for Account No. AL-3430-648045.

Section 11. That the Director of Finance is hereby authorized to close project accounts upon project completion and return the unspent portion of the appropriation to the Fund Balance from which it came.

 

Section 12. Declaration of Emergency. This ordinance is recognized as an emergency measure within the provisions of Section 503(a)(3)(c) of the City Charter in that it appropriates money and shall take effect in accordance with that section.

 

I hereby certify that there is a balance, otherwise unencumbered, to the credit of the appropriation to which the foregoing expenditure is to be charged, and a cash balance, otherwise unencumbered, in the treasury, to the credit of the fund from which payment is to be made, each sufficient to meet the obligation hereby incurred.

 

 

Randall J. Landes

Director of Finance

 

Approved as to form and legality:

 

 

Sarah Baxter

Assistant City Attorney