ORDINANCE
NO. 180836
Authorizing the
Director of Finance to accept a proposal of Banc of America Public Capital Corp
(“BAPCC”) to finance the acquisition a of Kansas City Police Department Robot
(“Project”); authorizing the execution of any and all documents and agreements
necessary for the financing; estimating revenue in the amount of $411,650.00
and appropriating the same; estimating revenue in the amount of $406,650.00 and
appropriating the same to the Kansas City, Missouri Police
Department (“KCPD”); designating requisitioning authority; declaring the city’s intent to reimburse itself for
certain expenditures; approving Lease Counsel in connection with the
transaction; authorizing the Director of Finance to close project accounts; and recognizing this ordinance as having an
accelerated effective date.
WHEREAS, the KCPD bomb and arson unit responds to
abandoned packages of unknown nature and a remote controlled robotic vehicle
allows for manipulation of packages to determine contents without placing
responders in harm’s way; and
WHEREAS, the KCPD bomb and arson unit responds to
incidents where remote surveillance over varying terrain is needed; and
WHEREAS,
KCPD tactical units respond to Operation 100 incidents and rely upon bomb and
arson to provide remote surveillance while providing for the utmost safety of
all responders; and
WHEREAS,
the cost of acquisition and implementation of the Project is expected to be
financed under the Master Lease Purchase Agreement (“Lease”) with BAPCC by one
(1) draw upon the Lease; and
WHEREAS,
the payment of scheduled debt service payments on the draw made under the Lease
will be funded by the Public Safety Sales Tax over a successive five (5) year
period; 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 BAPCC for the financing of the Project through one (1) draw upon
the Lease in an approximate principal amount not to exceed $412,000.00.
Section 2. That the Director of Finance is authorized to execute,
deliver and file in the name of the City, the Lease 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-3230-120000-583000
Lease Proceeds $411,650.00
Section 4. That the sum of $411,650.00
is
hereby appropriated from Fund No. 3230,
the Unappropriated Fund
Balance of the Equipment Lease Capital Acquisition Fund to the following account:
KCMBU-AL-3230-129996-X Transfer to KCPDU $406,650.00
KCMBU-AL-3230-129620-B Cost of Issuance 5,000.00
TOTAL $411,650.00
Section 5. That the revenue in the following account
of Fund No. 3230, the Equipment Lease Capital Acquisition
Fund, is hereby estimated in the following
additional amount:
KCPDU-AL-3230-210000-599900 Transfer from KCMBU $406,650.00
Section 6. That the sum of $406,650.00
is
hereby appropriated from Fund No. 3230,
the Unappropriated Fund
Balance of the Equipment Lease Capital Acquisition Fund to the following account:
KCPDU-AL-3230-217700-E Police
Equipment $406,650.00
Section 7. That the Board of Police Commissioners is hereby designated
as requisitioning authority for Account No. KCPDU-AL-3230-217700, and that the
Director of Finance is hereby designated as requisitioning authority for
Account No. KCMBU-AL-3230-129996 and KCMBU-AL-3230-129620.
Section 8. That the City hereby declares its official intent to reimburse
itself for certain expenditures made within sixty (60) days prior to or on and
after the date of this ordinance with respect to the Project with the proceeds
of the lease expected to be drawn from the Lease. The maximum principal of amount
of lease proceeds for the Project expected to be financed under the Lease is
$412,000.00. This constitutes a declaration of official intent under Treasury
Regulation Section 1.150-2.
Section 9. That the City approves Kutak Rock LLP to serve as Lease
Counsel for the City in connection with the financing of the Project.
Section 10. That the Director of Finance is hereby authorized to close
project accounts, open encumbrances and retainage related to the accounts in
Section 4 and Section 6, and return the unspent portion to the Fund balance
from which it came upon the earliest of: (i) Project’s completion; (ii) final
maturity of financing or (iii) five years after issuance.
Section 11. 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 and legality:
________________________________
Katherine Chandler
Assistant City Attorney