ORDINANCE NO. 060972
Approving certain amendments in connection with the
Kansas City Municipal Assistance Corporation Leasehold Revenue Refunding and
Improvement Bonds, Series 2006A; approving and authorizing certain documents
and actions relating to the amendments; reducing the appropriation in the
Bartle Hall Renovations account and transferring $260,000.00 to an account for
another project.
WHEREAS, the Kansas City Municipal Assistance
Corporation (the
"Corporation") is a not-for-profit corporation duly organized and
existing under Chapter 355 of the Missouri Revised Statutes 1994 (the Act);
and
WHEREAS,
the Corporation is authorized under the Act to lease as lessor and as lessee
any real or personal property, to borrow money for its corporate purposes and
to issue its notes, bonds or other obligations in evidence thereof; and
WHEREAS,
at the request of the City of Kansas City, Missouri (the City), the
Corporation has heretofore issued its $129,650,000.00 Leasehold Refunding and
Improvement Revenue Bonds (H. Roe Bartle Convention Center, Music Hall and
Municipal Auditorium Parking Garage Projects) Series 2006A (the
Series 2006A Bonds) pursuant to a Seventh Supplemental Indenture of Trust
dated as of April 1, 2006, as amended by the First Amendment to Seventh
Supplemental Indenture dated as of May 1, 2006 (the Seventh Supplemental
Indenture) by and between the Corporation and Wells Fargo Bank, N.A. (the
Trustee), for the purpose of refunding certain bonds of the Corporation and
financing certain projects, consisting of certain improvements of the H. Roe
Bartle Hall Convention Center (the Bartle Project), certain improvements of
the Municipal Auditorium Music Hall (the Music Hall Project) and certain
improvements of the Municipal Auditorium Parking Garage (the Parking Garage
Project); and
WHEREAS,
the City has requested that the Corporation amend the Seventh Supplemental
Indenture and other documents relating to the Series 2006A Bonds to provide for
the financing of additional projects that may be designated by the City (the
General City Projects); and
WHEREAS,
in connection with the requested amendment, the Corporation and the Trustee
will enter into a Second Amendment to Seventh Supplemental Indenture dated as
of the date set forth therein (the Second Amendment to Seventh Supplemental
Indenture), the City and the Corporation will enter into a Seventh Amendment
of Base Lease dated as of the date set forth therein (the Seventh Amendment of
Base Lease), the Corporation and the City will enter into an Eighth Amendment
of Master Lease Purchase Agreement (the Eighth Amendment of Master Lease
Purchase Agreement), and the Corporation and The Bank of New York Trust
Company, N.A. (the Master Trustee) will enter into an Eighth Amendment to
Master Indenture of Trust dated as of the date set forth therein (the Eighth
Amendment to Master Indenture), to include provisions relating to the
financing of the General City Projects; and
WHEREAS,
in order to accomplish the foregoing, it is necessary and desirable that the City
approve the transaction described in these resolutions and the execution and
delivery of the amendments to the financing documents and certain other matters
in connection with the transaction, as herein provided; NOW, THEREFORE,
BE
IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section
1. Approval of Amendment. The City
hereby requests, directs and instructs the Corporation to amend the Seventh
Supplemental Indenture and other documents relating to the Series 2006A
Bonds for the purpose of providing for the financing of the General City
Projects.
Section
2. Authorization and Approval of
City Documents. The following documents relating to the amendment (the
City Documents) are hereby approved in substantially the forms submitted to
the City Council, and the Director of Finance is authorized to execute and
deliver the City Documents with such changes therein and additions thereto as
the Director of Finance deems necessary or appropriate:
(a)
Seventh Amendment of Base Lease.
(b)
Eighth Amendment of Master Lease
Purchase Agreement.
Section
3. The appropriation in the
following account of Fund No. 3425, the KCMAC Series 2006A-KCMAC 1996A
Refunding, Expansion, Music Hall and Auditorium Garage Improvements Fund is
hereby reduced by the following amount:
AL-3425-898822-B Bartle Hall Renovations $260,000.00
Section 4.
The Trustee is directed to transfer $260,000.00 from the Series 2006A
Bartle Project Account to the General City Projects Account of the Project Fund
established pursuant to the Seventh Supplemental Indenture, as amended by the
Second Amendment.
Section
5. Further Authority. The
officials of the City are further authorized and directed to execute such
documents, instruments and certificates and to take such further actions on
behalf of the City as shall be necessary or desirable to effect the terms and
provisions of this Ordinance.
_____________________________________________
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