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Legislation #: 010636 Introduction Date: 4/26/2001
Type: Ordinance Effective Date: 5/13/2001
Sponsor: None
Title: Authorizing the Director of Finance to execute any and all documents and agreements necessary to finance the lease purchase cost of golf course equipment ("Project") in the sum of approximately $115,000.00; estimating revenue in the amount of $115,000.00 and appropriating the same in the Equipment Lease Capital Acquisition Fund and account as specifically set forth in the ordinance; reducing appropriation by $23,959.00 and reappropriating it to the Park Special Services Fund; estimating and appropriating debt service in the amount of $23,959.00 in the Equipment Lease Debt Service; authorizing the Director of Finance to close project accounts upon project completion; designating requisitioning authority; and recognizing an emergency.

Legislation History
DateMinutesDescription
4/26/2001

Prepare to Introduce

4/26/2001

Referred Finance and Audit Committee

5/2/2001

Advance and Do Pass

5/3/2001

Passed


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ORDINANCE NO. 010636

 

Authorizing the Director of Finance to execute any and all documents and agreements necessary to finance the lease purchase cost of golf course equipment (Project) in the sum of approximately $115,000.00; estimating revenue in the amount of $115,000.00 and appropriating the same in the Equipment Lease Capital Acquisition Fund and account as specifically set forth in the ordinance; reducing appropriation by $23,959.00 and reappropriating it to the Park Special Services Fund; estimating and appropriating debt service in the amount of $23,959.00 in the Equipment Lease Debt Service; authorizing the Director of Finance to close project accounts upon project completion; designating requisitioning authority; and recognizing an emergency.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Director of Finance is authorized to accept the proposal of Banc of America Leasing & Capital, LLC (Banc of America) for financing the Project through a Lease Purchase Agreement and the Director of Finance is authorized to execute, deliver and file in the name of the City, any and all documents and agreements necessary to complete such financing.

 

Section 2. That the revenue in the following account of the Equipment Lease Capital Acquisition Fund is hereby estimated in the following amount:

 

02-323-012-8300 Reimbursement from Bank or Lease Co. $115,000.00

 

Section 3. That the sum of $115,000.00 is hereby appropriated from the Unappropriated Fund Balance of the Equipment Lease Capital Acquisition Fund:

02-323-070-9740E Golf Equipment Project Lease $115,000.00

 

Section 4. That the appropriation in the following account of the Park Special Services Fund is hereby reduced by the following amount:

 

02-205-070-2620B Golf Course Operation Blue River $ 23,959.00

 

Section 5. That the sum of $23,959.00 is hereby appropriated from the Unappropriated Fund Balance of the Park Special Services Fund:

 

02-205-012-9023B Transfer to Lease Debt Service $ 23,959.00

 

Section 6. That the revenue in the following account of the Equipment Lease Debt Service Fund is hereby estimated in the following amount:

 

02-523-012-9246 Transfer from Park Special Services Fund $23,959.00

 


Section 7. That the sum of $23,959.00 is hereby appropriated from the Unappropriated Fund Balance of the Equipment Lease Debt Service Fund:

 

02-523-012-9740G Golf Equipment Project Lease $23,959.00

 

Section 8. That the Director of Parks and Recreation Department is hereby designated as the requisitioning authority for Account No. 02-323-070-9740-E and that the Director of Finance is hereby designated as the requisitioning authority for Account No. 02-205-012-9023-B and 02-523-012-9740-G.

 

Section 9. 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 10. That this ordinance appropriating money is recognized as an emergency measure within the provisions of Section 15, Article II of the Charter of Kansas City, and takes 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.

 

 

 

____________________________________

Director of Finance

 

Approved as to form and legality:

 

 

 

___________________________________

Assistant City Attorney