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Legislation #: 100166 Introduction Date: 2/25/2010
Type: Ordinance Effective Date: 3/21/2010
Sponsor: None
Title: Estimating $10,161,056.00 of lease proceeds in the Water Fund, issued to refinance the 2007 Automated Meter Reading system lease financing schedule and appropriating the same; designating requisitioning authorities; authorizing the Director of Finance to close project accounts upon completion and declaring the intent of the City to reimburse itself from the lease purchase proceeds for certain expenditures.

Legislation History
DateMinutesDescription
2/24/2010 Filed by the Clerk's office
2/25/2010 Referred to Finance and Audit Committee
3/3/2010 Do Pass
3/4/2010 Assigned to Third Read Calendar
3/11/2010 Passed

View Attachments
FileTypeSizeDescription
100166.pdf Authenticated 68K AUTHENTICATED
http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=100166 Video Link 0K http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=100166
Approp Admin AMR Sch 1 Refunding e a v1.xls Other 60K Appropriation and Administration Accounting Form
fiscal notes-AMR Refinancing E A ordinance v1.xls Fiscal Note 61K Fiscal Note
E A Fact Sheet v2.xlsx Fact Sheet 25K Fact Sheet

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ORDINANCE NO. 100166

 

Estimating $10,161,056.00 of lease proceeds in the Water Fund, issued to refinance the 2007 Automated Meter Reading system lease financing schedule and appropriating the same; designating requisitioning authorities; authorizing the Director of Finance to close project accounts upon completion and declaring the intent of the City to reimburse itself from the lease purchase proceeds for certain expenditures.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the revenue in the following account of Fund No. 8010, the Water Fund, is estimated in the following amount:

 

10-8010-800000-583000 Lease Proceeds $10,161,056.00

Section 2. That the sum of $ 10,161,056.00 is hereby appropriated from the Unappropriated Fund Balance of the Water Fund, to the following account:

 

10-8010-809600-G Debt Service $10,161,056.00

 

Section 3. That the Director of Water Services is designated as the requisitioning authority for Account No. 10-8010-809600.

 

Section 4. That the Director of Finance is authorized to close project accounts upon completion and return the unspent portion of the appropriation to the Fund Balance from which it came.

 

Section 5. That the City declares its 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 AMR Project with the proceeds of a lease expected to be issued by the City. The maximum principal amount of the lease expected to be issued for the AMR Project is not to exceed $10,161,056.00. This constitutes a declaration of official intent under Treasury Regulation 1-150-2.

 

_____________________________________________

 

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