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Legislation #: 150272 Introduction Date: 4/16/2015
Type: Ordinance Effective Date: none
Sponsor: None
Title: Establishing Fund No. 8075, the 2015A Water Revenue Bond Fund; estimating revenues in the amount of $65,813,574.05 in Fund 8075, the 2015A Water Revenue Bond Fund and appropriating the same from the sale of Water Revenue Bonds, Series 2015A; designating requisitioning authorities; authorizing the Director of Finance to close project accounts upon project completion, establishing fund No. 8187, the 2015A Sewer Revenue Bond Fund; and recognizing an accelerated effective date.

Legislation History
DateMinutesDescription
4/15/2015 Filed by the Clerk's office
4/16/2015 Referred to Finance, Governance & Ethics Committee
4/22/2015 Advance and Do Pass as a Committee Substitute, Debate
4/23/2015 Passed as Substituted

View Attachments
FileTypeSizeDescription
150272.pdf Authenticated 142K Authenticated
Water 2015A E A Fiscal Note-use this.pdf Fiscal Note 169K FISCAL NOTE
Approp Admin Form-Revenue .pdf Other 167K Accounting Form-Revenue
Approp Admin-Appropriatons .pdf Other 168K Accounting Form-Appropriation
Water 2015A E A Ordinance Fact Sheet.pdf Fact Sheet 255K FACT SHEET
Water Revenue Bond Projects Series 2015-2016.pdf Other 351K Water Revenue Bond Project List

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COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 150272

 

Establishing Fund No. 8075, the 2015A Water Revenue Bond Fund; estimating revenues in the amount of $65,813,574.05 in Fund 8075, the 2015A Water Revenue Bond Fund and appropriating the same from the sale of Water Revenue Bonds, Series 2015A; designating requisitioning authorities; authorizing the Director of Finance to close project accounts upon project completion, establishing fund No. 8187, the 2015A Sewer Revenue Bond Fund; and recognizing an accelerated effective date.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That Fund No. 8075, 2015A Water Revenue Bond Fund, is hereby established in the records of the City of Kansas City, Missouri.

Section 2. That the revenue in the following accounts of Fund 8075, 2015A Water Revenue Bond Fund is hereby estimated in the following amounts:

 

AL-8075-120000-590000 Proceeds from Sale of Bonds $59,790,000.00

AL-8075-120000-485100 Premium on Bonds 6,023,574.05

TOTAL $65,813,574.05

 

Section 3. That the sum of $65,813,574.05 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 8075, 2015A Water Revenue Bond Fund to the following accounts:

 

AL-8075-807705-B Water Main Replacement Program $41,561,341.45

AL-8075-807707-B Transmission Mains 7,850,000.00

AL-8075-807715-B Pump Station 8,090,000.00

AL-8075-807714-B Treatment Facilities 7,500,000.00

AL-8075-129632-B Discount on Sale of Bonds 167,237.50

AL-8075-129620-B Bond Issuance Expense 235,000.00

AL-8075-129631-B Underwriters’ Discount 399,995.10

AL-8075-129686-B Arbitrage Rebate Calculation 10,000.00

TOTAL $65,813,574.05

 

Section 4. That the Director of Finance is hereby designated as requisitioning authority for account numbers AL-8075-129631-B, AL-8075-129620-B, AL-8075-129632-B, and AL-8075-129686-B and that the Director of Water Services is hereby designated as requisitioning authority for account numbers AL-8075-807705-B, AL-8075-807707-B, and AL-8075-807715-B, and AL-8075-807714-B.

Section 5. 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 6. That Fund No. 8187, 2015A Sewer Revenue Bond Fund, is hereby established in the records of the City of Kansas City, Missouri.

Section 7. That this ordinance is recognized as an ordinance with an accelerated effective date as provided by 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:

 

 

Sarah Baxter

Assistant City Attorney