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Legislation #: 191012 Introduction Date: 12/5/2019
Type: Ordinance Effective Date: 12/20/2019
Sponsor: None
Title: Estimating revenue and appropriating $1,884,636.00 in Fund No. 3439, the 2020A Taxable Special Obligation Bond Fund; authorizing the purchase of certain equipment to initiate catering operations in the Grand Ballroom of the Convention Center; designating requisitioning authority to the Director of Conventions and Entertainment Facilities and the Director of Finance; and recognizing this ordinance as having an accelerated effective date.

Legislation History
DateMinutesDescription
12/4/2019 Filed by the Clerk's office
12/5/2019 Referred to Finance, Governance and Public Safety Committee
12/11/2019 Hold On Agenda (12/18/2019)
12/18/2019 Advance and Do Pass, Debate
12/19/2019 Passed

View Attachments
FileTypeSizeDescription
191012.pdf Authenticated 112K Authenticated
191012 CEF Conv Kitchen Ordinance - Fact Sheet - 12.4.pdf Fact Sheet 168K Corrected Fact Sheet
191012 CEF Conv Kitchen Ordinance - Fiscal Note - 12.4.pdf Fiscal Note 117K Corrected Fiscal Note
191012 CEF Conv Kitchen Ordinance - Admin Worksheet.pdf Other 108K Admin Worksheet
191012 CEF Conv Kitchen Ordinance - Fact Sheet.pdf Fact Sheet 170K Fact Sheet
191012 CEF Conv Kitchen Ordinance - Fiscal Note.pdf Fiscal Note 97K Fiscal Note

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ORDINANCE NO. 191012

 

Estimating revenue and appropriating $1,884,636.00 in Fund No. 3439, the 2020A Taxable Special Obligation Bond Fund; authorizing the purchase of certain equipment to initiate catering operations in the Grand Ballroom of the Convention Center; designating requisitioning authority to the Director of Conventions and Entertainment Facilities and the Director of Finance; and recognizing this ordinance as having an accelerated effective date.

 

WHEREAS, the City agreed to fund certain expenses related to the initiation of catering services in the Convention Center Grand Ballroom by KC Hotel Developers, LLC;

 

WHEREAS, Loews has provided a proposed budget for equipment that will be necessary to begin catering operations which has been reviewed by the Conventions and Entertainment Facilities Department;

 

WHEREAS, it is necessary to provide all equipment necessary for catering operations to begin March 1, 2020; and

 

WHEREAS, the payment of scheduled debt service payments on the 2020A Taxable Special Obligation Bonds will be made by annual appropriation of monies from the City’s General Municipal Revenues over a successive four (4) year period; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the revenue in the following account is hereby estimated in the following amount:

 

AL-3439-120000-590000 Proceeds from Sale of Bonds $1,884,636.00

 

Section 2. That the sum of $1,884,636.00 is hereby appropriated from the Unappropriated Fund Balance to the following accounts:

 

AL-3439-632120-E Convention Hotel Catering $1,847,636.00

AL-3439-129620-B Cost of Issuance  37,000.00 TOTAL $1,884,636.00

 

Section 3. That the Director of Conventions and Entertainment Facilities is hereby designated as requisitioning authority for Account No. AL-3439-632120, and the Director of Finance is designated as the requisitioning authority for Account No. AL-3439-129620.

 

Section 4. That the City hereby declares its official 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 appropriations listed in Section 2 (the “Appropriations”) with the proceeds of bonds expected to be issued by the City. The maximum principal amount of bonds expected to be issued for the Appropriations shall not exceed $1,884,636.00. This constitutes a declaration of official intent under Treasury Regulation Section 1.150-2.

 

Section 5. That the Director of Finance is hereby authorized to close project accounts, encumbrances and retainage related to the accounts in Section 2, and return the unspent portion to the fund balance from which it came upon the earliest of: (i) Project’s completion; (ii) final maturity of financing, or (iii) five years after issuance.

 

Section 6. That this ordinance, relating to the design, repair, maintenance or construction of a public improvement and appropriating money, is recognized as an ordinance with an accelerated effective date as provided by Section 503(a)(3) of the City Charter and shall take effect in accordance with Section 503, City Charter.

 

______________________________________________

 

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.

 

 

_____________________________

Tammy L. Queen

Director of Finance

 

Approved as to form and legality:

 

 

_____________________________

Lana K. Torczon

Assistant City Attorney