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Legislation #: 051484 Introduction Date: 12/1/2005
Type: Ordinance Effective Date: none
Sponsor: COUNCILMEMBER EDDY
Title: Fixing the interest rate on $31,000,000.00 maximum principal amount of a Taxable Industrial Revenue Bonds (H_R Block Services, Inc. Project), Series 2005I of the City of Kansas City, Missouri, authorized by Committee Substitute for Ordinance No. 051352, passed November 10, 2005, authorizing the sale and delivery of said bond to the purchaser, and declaring an emergency.

Legislation History
DateMinutesDescription
12/1/2005 Filed by the Clerk's office
12/1/2005 Passed

View Attachments
FileTypeSizeDescription
051484.pdf Authenticated 76K Authenticated
fact sheet.xls Advertise Notice 54K fact sheet

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ORDINANCE NO. 051484

 

Fixing the interest rate on $31,000,000.00 maximum principal amount of a Taxable Industrial Revenue Bonds (H&R Block Services, Inc. Project), Series 2005I of the City of Kansas City, Missouri, authorized by Committee Substitute for Ordinance No. 051352, passed November 10, 2005, authorizing the sale and delivery of said bond to the purchaser, and declaring an emergency.

 

WHEREAS, the Director of Finance of the City of Kansas City, Missouri, advertised for bids for the purchase of $31,000,000.00 maximum principal amount of Taxable Industrial Revenue Bonds (H&R Block Services, Inc. Project), Series 2005I, said bids were received on December 1, 2005; and

 

WHEREAS, said sale was held at said time in the Office of the City Treasurer, and bids received pursuant to said Ordinance, the best bid received for the Series 2005I Bonds was that of H&R Block Services, Inc., and the City Council, pursuant to the recommendation of the Director of Finance and an Assistant City Attorney, has determined that the bid aforesaid should be accepted and has authorized the Director of Finance to accept said bid; and

 

WHEREAS, it is necessary that the City Council, by ordinance, immediately fix the interest rate to be borne by the Series 2005I Bonds in order that the such bonds may be prepared, executed and delivered to the purchaser thereof in accordance with the notice of bond sale and the bid of said purchaser, and by reason of such conditions, it is for the immediate preservation of the public property that this ordinance take effect as an emergency measure; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Series 2005I Bonds shall bear interest at the rate of 5.50%.

Section 2. That the Series 2005I Bonds shall be duly prepared and executed in accordance with the provisions of Committee Substitute for Ordinance No. 051352, passed November 10, 2005, and the Series 2005I Bonds when duly prepared and executed shall be sold and delivered by the Director of Finance to H&R Block Services, Inc. the purchaser thereof, upon payment of the purchase price thereof.

 

Section 3. That the City is hereby authorized to accept a bill of sale for personal property financed with the bond proceeds.

 


Section 4. This ordinance is declared to be an emergency measure within the provisions of Section 15, Article III of the Charter and shall take effect immediately upon its passage.

 

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Approved as to form and legality:

 

 

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Heather A. Brown Assistant City Attorney