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Legislation #: 100287 Introduction Date: 4/1/2010
Type: Ordinance Effective Date: none
Sponsor: COUNCILMEMBER JOHNSON
Title: Reducing appropriations in the KCMAC Leasehold Improvements 2003C-1 account; estimating interest and appropriating it to project accounts; and authorizing the Director of Public Works to expend the funds on the projects.

Legislation History
DateMinutesDescription
4/1/2010 Filed by the Clerk's office
4/1/2010 Referred to Transportation and Infrastructure Committee
4/8/2010 Advance and Do Pass as a Committee Substitute, Debate
4/8/2010 Passed as Substituted

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COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 100287

 

Reducing appropriations in the KCMAC Leasehold Improvements 2003C-1 account; estimating interest and appropriating it to project accounts; and authorizing the Director of Public Works to expend the funds on the projects.

 

WHEREAS, the City Manager was directed by the Council pursuant to Resolution No. 981066 to recommend a method of financing public improvements located in the area of N.W. Barry Road, west of Interstate 29 (the Barry Road Improvements); and

 

WHEREAS, the Council adopted Resolution No. 990233 stating its intention to fund the construction of certain public improvements generally located in the area of N.W. Barry Road, west of Interstate 29; and

 

WHEREAS, the Council adopted Resolution No. 001556 stating its intent with regard to financing certain public infrastructure generally located in the area of N.W. Barry Road, west of Interstate 29 in Platte County, Kansas City, Missouri and stating the intent of the City to reimburse itself for certain expenses incurred prior to the issuance of any bonds; and

 

WHEREAS, the City Council passed Committee Substitute for Ordinance No. 011193, which authorized the Kansas City Municipal Assistance Corporation to issue tax-exempt and taxable leasehold revenue bonds needed to build the public improvements identified in the Resolution (First Series Bonds); and

 

WHEREAS, the Council passed Ordinance No. 011273 authorizing the Director of City Development to enter into an intergovernmental agreement between the City and the Platte County, Missouri South Transportation Development Districts and a guarantee agreement in connection with the issuance by Kansas City Municipal Assistance Corporation of its Leasehold Revenue Bonds, Kansas City, Missouri Series 2001B; and

 

WHEREAS, the City Council adopted Committee Substitute for Resolution No. 001556 authorizing the sale of bonds in one or more series to pay construction costs for certain public improvements generally located in the area of N.W. Barry Road, west of Interstate 29; and

WHEREAS, the Platte County, Missouri South Transportation Development Districts were formed by the Platte County Circuit Court for the purpose of constructing certain transportation projects in the area generally located around N.W. Barry Road, Interstate 29, Missouri Highway 152 and N. Congress Avenue, including the N. Congress and N.W. Prairie View Road Improvement Projects; and


WHEREAS, the Council authorized the Director of Public Works to enter into an Intergovernmental Agreement with the Platte County, Missouri South Transportation Development Districts with Ordinance No. 020803, passed July 2, 2002, relating to the design and construction of N.W. Prairie View Road, N. 86th Street, and N. Congress Avenue and the half diamond interchange at Missouri 152 and N. Congress Avenue; and

WHEREAS, the Intergovernmental Agreement with the Platte County, Missouri South Transportation Development Districts was amended on December 1, 2003; and

WHEREAS, the improvements to N. Congress and N.W. Prairie View Road have been completed and additional funds are needed to settle construction related claims on the project; NOW, THEREFORE,

BE IT ORDAINDED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the revenue the in the following account of the Fund No. 3650, KCMAC Series 2003C-1 Fund is hereby estimated in the following amount

 

AL-3650-120000-460100 Interest on Investments-Trustee $216,987.55

 

Section 2. That the appropriation in the following account of Fund No. 3650, KCMAC Series 2003C-1 Fund is hereby reduced by the following amount:

 

AL3650-898812-E-89008078 NW Barry Road – Section 2 $ 51,833.53

 

Section 3. That the sum of $268,821.08 is hereby appropriated from the Unappropriated Fund Balance of the Fund 3650, KCMAC Series 2003C-1 Fund to the following accounts:

 

AL-3650-897254-B-89008019 North Congress $ 54,835.07

AL-3650-897268-B-89008061 NW Prairie View Road 213,986.01

TOTAL $268,821.08

 

Section 4. That the Director of Public Works is hereby designated as requisitioning authority on Account Nos. AL-3650-897254 and AL-3650-897268 and is authorized to expend an additional $268,821.08 to fulfill obligations as outlined in the aforesaid agreements.

 

Section 5. That this ordinance is recognized an emergency measure within the provisions of Section 503 of the City Charter in that it appropriates money, and shall take effect in accordance with that section.

 

___________________________________________

 


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:

 

__________________________________

Brian Rabineau

Assistant City Attorney