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Legislation #: 100268 Introduction Date: 4/1/2010
Type: Ordinance Effective Date: 4/25/2010
Sponsor: None
Title: Establishing Fund No. 3396, the 2010B Taxable G.O. Bond Fund; estimating revenues in the amount of $3,473,467.00 in the Series 2010A G.O. Bond Fund (Fund No. 3395) and appropriating the same; reducing appropriations in Fund No. 3395 by $7,673,061.00; estimating revenues in the amount of $10,195,000.00 in the Series 2010B Taxable G.O. Bond Fund (Fund No. 3396) and appropriating the same; authorizing the City Manager to transfer $10,097,088.00 of encumbrances from Fund No. 3395 to Fund 3396; designating requisitioning authorities; and authorizing the Director of Finance to close project accounts upon completion.

Legislation History
DateMinutesDescription
3/30/2010 Filed by the Clerk's office
4/1/2010 Referred to Finance and Audit Committee
4/7/2010 Do Pass
4/8/2010 Assigned to Third Read Calendar
4/15/2010 Passed

View Attachments
FileTypeSizeDescription
100268.pdf Authenticated 104K AUTHENTICATED
http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=100268 Video Link 0K http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=100268
GO 2010 Admin Approp.xls Other 57K Appropriation Worksheet
GO 2010 E A Fiscal Note.xlsx Fiscal Note 16K Fiscal Note
GO 2010 E A Fact Sheet.xlsx Fact Sheet 31K Fact Sheet

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ORDINANCE NO. 100268

 

Establishing Fund No. 3396, the 2010B Taxable G.O. Bond Fund; estimating revenues in the amount of $3,473,467.00 in the Series 2010A G.O. Bond Fund (Fund No. 3395) and appropriating the same; reducing appropriations in Fund No. 3395 by $7,673,061.00; estimating revenues in the amount of $10,195,000.00 in the Series 2010B Taxable G.O. Bond Fund (Fund No. 3396) and appropriating the same; authorizing the City Manager to transfer $10,097,088.00 of encumbrances from Fund No. 3395 to Fund 3396; designating requisitioning authorities; and authorizing the Director of Finance to close project accounts upon completion.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the revenue in the following accounts of Fund No. 3395, the Series 2010A G.O. Bond Fund, are hereby estimated in the following amounts:

 

AL-3395-120000-590000 Proceeds from Sale of Bonds $ 1,896,408.00

AL-3395-120000-485100 Reoffering Premium on Bonds Sold 1,577,059.00

TOTAL $ 3,473,467.00

 

Section 2. That the sum of $11,146,528.00 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 3395, the Series 2010A G.O. Bond Fund to the following accounts:

 

AL-3395-129620-B Bond Issue Expense $ 134,000.00

AL-3395-129686-B Arbitrage Rebate Calculation 6,000.00

AL-3395-129631-B Underwriter Discount on Sale of Bonds 133,106.00

AL-3395-129632-B Original Issue Discount 53,816.00

AL-3395-129671-G Defeasance of GO Series 1996B & 1998A 10,819,606.00

TOTAL $11,146,528.00

 

Section 3. That the appropriation in the following account of Fund No. 3395, the Series 2010A G.O. Bond Fund, is hereby reduced by the following amount:

 

AL-3395-107004-B FCC Rebanding Project $ 7,673,061.00

 

Section 4. That the Fund No. 3396, the 2010B Taxable G.O. Bond Fund is hereby established in the records of the City of Kansas City, Missouri.

 

Section 5. That the revenue in the following account of Fund No. 3396, the Series 2010B Taxable G.O. Bond Fund, is hereby estimated in the following amount:

 

AL-3396-120000-590000 Proceeds from Sale of Bonds $10,195,000.00

Section 6. That the sum of $10,195,000.00 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 3396, the Series 2010B Taxable G.O. Bond Fund to the following accounts:

 

AL-3396-129620-B Bond Issue Expense $ 40,000.00

AL-3396-129631-B Underwriter Discount on Sale of Bonds 57,912.00

AL-3396-107004-B FCC Rebanding Project 10,097,088.00

TOTAL $10,195,000.00

 

Section 7. That the City Manager is hereby authorized to transfer $10,097,088.00 of encumbrances from Fund No. 3395, the 2010A G.O. Bond Fund, to Fund No. 3396, the 2010B Taxable G.O. Bond Fund.

 

Section 8. That the City Manager is hereby designated as the requisitioning authority for Account No. AL-3396-107004, that the Director of Finance is hereby designated as the requisitioning authority for Account Nos. AL-3395-129620, AL-3395-129686, AL-3395-129631, AL-3395-129632, AL-3395-129671, AL-3396-129620 and AL-3396-129631.

 

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.

 

_______________________________________________________

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:

 

 

____________________________

Heather A. Brown

Assistant City Attorney