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Legislation #: 051243 Introduction Date: 10/13/2005
Type: Ordinance Effective Date: none
Sponsor: None
Title: Approving a plan for industrial development for the purpose of equipping and furnishing the World Headquarters of H_R Block, Inc. in the Downtown Central Business District of Kansas City, Missouri; and directing the City Clerk to file certain documents with the appropriate offices.

Legislation History
DateMinutesDescription
10/12/2005 Filed by the Clerk's office
10/13/2005 Referred to Finance Committee
10/19/2005 Hold On Agenda (10/26/2005)
10/26/2005 Do Pass
10/27/2005 Assigned to Third Read Calendar
11/3/2005 Passed

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051243.pdf Authenticated 94K Authenticated
HRB_FactSht.xls Fact Sheet 44K Fact Sheet

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ORDINANCE NO. 051243

 

Approving a plan for industrial development for the purpose of equipping and furnishing the World Headquarters of H&R Block, Inc. in the Downtown Central Business District of Kansas City, Missouri; and directing the City Clerk to file certain documents with the appropriate offices.

 

WHEREAS, the City of Kansas City, Missouri, a constitutional charter city and municipal corporation of the State of Missouri (the City) is authorized pursuant to the provisions of Article VI, Section 27 of the Missouri Constitution, as amended, and Sections 100.010 to 100.200, inclusive, of the Revised Statutes of Missouri, as amended, and the city of Kansas City Charter (collectively, the Act), to issue its revenue bonds for the carrying out of a project under the Act, such revenue bonds to be paid solely from revenue received from such project, and to enter into a lease of the facilities financed with the proceeds of such revenue bonds with any person, firm or corporation; and

 

WHEREAS, the City has engaged the Economic Development Corporation (EDC) to assist in the marketing, attraction, retention and expansion of existing business, and to attract new business to Kansas City, Missouri; and

 

WHEREAS, the City has adopted Committee Substitute for Resolution No. 050819 expressing its interest in issuing Chapter 100 bonds (the Bonds) for the purpose of carrying out a development project for H&R Block, Inc. (the Project); and

 

WHEREAS, the Council approved Committee Substitute for Resolution No. 041033 (the Policy) on September 16, 2004, outlining the policy for the use of Chapter 100 bonds and does hereby find that the proposed project complies with the Policy;

 

WHEREAS, H&R Block, Inc. has requested that the City approve a Chapter 100 plan for an industrial development project in the City, consisting of the purchase of equipment and furnishings for their World Headquarters to be leased to H&R Block, Inc.; and

 

WHEREAS, the City Council, pursuant to the Act and its Chapter 100 Policy, intends to issue and sell industrial revenue bonds in an amount not to exceed $31 million (the Bonds)

 

WHEREAS, the Council has heretofore and does hereby find and determine that it is desirable for the economic development of the City and within the public purposes of the Act that the Council approve a Chapter 100 plan as proposed by H&R Block, Inc.; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:


Section 1. The Council hereby finds and determines that the Project will promote the economic well-being and industrial development of Kansas City, Missouri, and the issuance of the Citys industrial revenue bonds to pay the costs of the Project will be in furtherance of the public purposes set forth in the Act. The Council hereby approves the following plan for an industrial development project:

 

(a)                Purchase of equipment and furnishings, including computers, office equipment and other related personal property for the World Headquarters of H&R Block, Inc. located in the Downtown Business District of Kansas City, Missouri.

 

(b)               A total estimated project cost of $31 million in equipment and personal property.

 

(c)                The project will be funded from proceeds of the sale of up to $31 million maximum principal amount of taxable industrial revenue bonds to be issued by the City.

 

_____________________________________________

 

Approved as to form and legality:

 

 

___________________________________

Heather A. Brown

Assistant City Attorney