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Legislation #: 051407 Introduction Date: 11/17/2005
Type: Ordinance Effective Date: none
Sponsor: None
Title: Authorizing the Director of Finance to accept the proposal of Koch Financial Corporation to finance the acquisition of Fire Command Emergency Response Vehicles for the Fire Department, in an approximate principal amount not to exceed $747,241.00; executing any and all documents and agreements necessary for the financing under a Master Lease Purchase Agreement; estimating and appropriating $747,241.00 in lease proceeds; appropriating debt service for fiscal year 2006 with respect to the Fire Command Emergency Response Vehicles and Fire Fleet Apparatus; reducing appropriation approved under Ordinance No. 050815; authorizing the Director of Finance to close project accounts upon project completion; designating requisitioning authorities; and recognizing an emergency.

Legislation History
DateMinutesDescription
11/16/2005 Filed by the Clerk's office
11/17/2005 Referred to Finance Committee
11/21/2005 Advance and Do Pass, Debate
11/22/2005 Passed

View Attachments
FileTypeSizeDescription
051407.pdf Authenticated 129K Authenticated
fiscal notes for fact sheet-emergency ver2(3).xls Fiscal Note 39K Fiscal Note
Approp _ Admin 11-3-05 v1(2)(2).xls Other 335K Approp & Admin Worksheet
ordinance fact sheet-final-final(3a).xls Fact Sheet 38K Fact Sheet

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ORDINANCE NO. 051407

 

Authorizing the Director of Finance to accept the proposal of Koch Financial Corporation to finance the acquisition of Fire Command Emergency Response Vehicles for the Fire Department, in an approximate principal amount not to exceed $747,241.00; executing any and all documents and agreements necessary for the financing under a Master Lease Purchase Agreement; estimating and appropriating $747,241.00 in lease proceeds; appropriating debt service for fiscal year 2006 with respect to the Fire Command Emergency Response Vehicles and Fire Fleet Apparatus; reducing appropriation approved under Ordinance No. 050815; authorizing the Director of Finance to close project accounts upon project completion; designating requisitioning authorities; and recognizing an emergency.

 

WHEREAS Resolution No. 050678 authorized the Director of Finance to proceed with the development of financing to acquire the Equipment;

 

WHEREAS, the Fire Department has determined that the acquisition of the Fire Command Emergency Response Vehicles (Equipment) are necessary to maintain the quality delivery of service for the community; and


WHEREAS, the Fire Department expects to be reimbursed for the cost of purchase of such Equipment by a draw upon a Master Lease Purchase Agreement with Koch Financial Corporation (Koch), the payment for debt service payments will be made by annual appropriations of the Fire Sales Tax Fund, over a five-year (5) period; respectively, NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Director of Finance is authorized to accept the proposal of Koch for financing the acquisition of Equipment through a draw upon the Master Lease Purchase Agreement in an approximate principal amount not to exceed $747,241.00.

 

Section 2. That the Director of Finance is authorized to execute, deliver and file in the name of the City, the Master Lease Purchase Agreement and any and all documents and agreements necessary to complete such financing.


Section 3. That the revenue in the following account of Fund No. 3230, the Equipment Lease Capital Acquisition Fund, is hereby estimated in the following amount:

 

AL-3230-120000-830000 Reimbursement from Bank or Lease Co. $ 747,241.00

 


Section 4. That the sum of $747,241.00 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 3230, the Equipment Lease Capital Acquisition Fund, to the following accounts:

 

AL-3230-231904-E Emergency Response Fleet $ 501,811.00

AL-3230-129998-X Tsfr to Fire Sales Tax Fund 245,430.00

TOTAL $ 747,241.00

 

Section 5. That the revenue in the following account of Fund No. 2300, the Fire Sales Tax Fund, is hereby estimated in the following amount:

 

06-2300-120000-503230 Tsfr from Eq. Lease Cap Acq. Fund $ 245,430.00

 

Section 6. That the sum of $728,450.00 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 2300, the Fire Sales Tax Fund, to the following account:

 

06-2300-129793-G 05 Ls Purchase Emergency Response Fleet $ 54,885.00

06-2300-129707-G 05 Ls Purchase Fire Fleet Apparatus 673,565.00

TOTAL $ 728,450.00

 

Section 7. That the revenue in the following account of the Equipment Lease Capital Acquisition Fund is hereby reduced by the following amount:

 

AL-3230-120000-830000 Reimbursement from Bank or Lease Co. $1,764,860.00

 

Section 8. That the appropriation in the following account of Fund No. 3230, Equipment Lease Capital Acquisition Fund is hereby reduced by the following amount:

 

AL-3230-231911-E Fire Fleet Apparatus $1,764,860.00

 

Section 9. That the Chief of the Fire Department is hereby designated as requisitioning authority for Account No. AL-3230-231904 and that the Director of Finance is hereby designated as requisitioning authority for Account Nos. 06-2300-129793 and 06-2300-129707.

 

Section 10. 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 11. That the ordinance is recognized as an emergency measure within the provision of Section 15, Article II of the Charter of Kansas City, and shall take effect in accordance with Section 15.

 

______________________________________________

 

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.

 

 

___________________________

Debra R. Hinsvark

Director of Finance

 

Approved as to form and legality:

 

 

____________________________

Heather A. Brown

Assistant City Attorney