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Legislation #: 190547 Introduction Date: 7/11/2019
Type: Ordinance Effective Date: 7/19/2019
Sponsor: None
Title: Estimating and appropriating revenue in the amount of $15,496,673.55 in Fund No. 8189 from the sale of the 2019A Sanitary Sewer System Improvement Revenue Bonds; designating requisitioning authorities; authorizing the Director of Finance to close project accounts upon project completion, and recognizing this ordinance as having an accelerated effective date.

Legislation History
DateMinutesDescription
7/8/2019 Filed by the Clerk's office
7/11/2019 Referred to Finance and Governance Committee
7/17/2019 Advance and Do Pass, Debate
7/18/2019 Passed

View Attachments
FileTypeSizeDescription
190547.pdf Authenticated 66K Authenticated Ordinance
190547 Sewer 2019A EA Accounting Forms.pdf Other 242K Accounting Forms
190547 Projects List 03042019..pdf Other 110K Project List
190547 Sewer 2019A Fiscal Note.pdf Fiscal Note 40K Fiscal Notice
190547 Sewer EA 2019A Fact Sheet 06.26.2019.pdf Other 52K Fact Sheet

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ORDINANCE NO. 190547

 

Estimating and appropriating revenue in the amount of $15,496,673.55 in Fund No. 8189 from the sale of the 2019A Sanitary Sewer System Improvement Revenue Bonds; designating requisitioning authorities; authorizing the Director of Finance to close project accounts upon project completion, and recognizing this ordinance as having an accelerated effective date.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the revenue in the following account of Fund No. 8189, the Sanitary Sewer Improvement Series 2019A Revenue Bond Fund, is hereby estimated in the following amounts:

AL-8189-120000-590000 Bond Proceeds $ 9,435,000.00

AL-8189-120000-485100 Premium on Bonds Sold 6,061,673.55

Total $15,496,673.55

 

Section 2. That the appropriation of $50,000.00 is hereby reduced in Fund No. 8189, the Sanitary Sewer Improvement Series 2019A Revenue Bond Fund, in the following account:

 

AL-8189-129620-B Cost of Issuance $ 50,000.00

 

Section 3. That the sum of $15,546,673.55 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 8189, the Sanitary Sewer Improvement Series 2019A Revenue Bond Fund, to the following accounts:

 

AL-8189-807769-B-80BUDGET Project Fund $14,935,637.90

AL-8189-129631-B Underwriter's Discount 448,012.50

AL-8189-129632-B Discount Bonds Sold 153,023.15

AL-8189-129686-B Arbitrage Rebate 10,000.00

Total $15,546,673.55

 

Section 4. That the Director of the Water Services Department is hereby designated as requisitioning authority for Account No. AL-8189-807769 and the Director of Finance is hereby designated as requisitioning authority for Account No. AL-8189-129620, AL-8189-129686, AL-8189-129631 and AL-8189-129632.

 

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. 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 and legality:

 

 

_____________________________

Katherine Chandler

Assistant City Attorney