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Legislation #: 910469 Introduction Date: 4/18/1991
Type: Ordinance Effective Date: 5/19/2019
Sponsor: None
Title: Approving the issuance by Kansas City Municipal Assistance Corporation of its Leasehold Improvement Revenue Bonds, Series 1991B (H. Roe Bartle Convention Center Project), in the principal amount of approximately $130,000,000.00 to provide funds to pay part of the cost of the expansion of the H. Roe Bartle Convention Center, including acquiring necessary real estate, interests therein and rights of way therefor; authorizing a Second Amendment to Base Lease with KCMAC and a Second Amendment to Master Lease Purchase Agreement with KCMAC; and authorizing certain other actions relating to the Project and the issuance of said Bonds.

Legislation History
DateMinutesDescription
4/16/1991

Prepare to Introduce

4/18/1991

Referred Finance Committee

4/24/1991

Do Pass

4/25/1991

Assigned to Third Read Calendar

5/2/1991

Held on Docket

5/9/1991

Passed


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ORDINANCE NO. 910469

 

Approving the issuance by Kansas City Municipal Assistance Corporation of its Leasehold Improvement Revenue Bonds, Series 1991B (H. Roe Bartle Convention Center Project), in the principal amount of approximately $130,000,000.00 to provide funds to pay part of the cost of the expansion of the H. Roe Bartle Convention Center, including acquiring necessary real estate, interests therein and rights of way therefor; authorizing a Second Amendment to Base Lease with KCMAC and a Second Amendment to Master Lease Purchase Agreement with KCMAC; and authorizing certain other actions relating to the Project and the issuance of said Bonds.

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WHEREAS, the City owns fee simple title to the real estate located in the City described as Parcels A and B on Schedule I to Exhibit A attached hereto and made a part hereof, including the buildings, structures and improvements thereon known as the H. Roe Bartle Convention Center and the Auditorium Plaza Garage, respectively (collectively the "Existing Bartle Hall"); and

 

WHEREAS, the City has proposed to expand and improve Existing Bartle Hall and in connection therewith to acquire certain additional real property and interests therein, and acquire, construct and install certain additional buildings, structures and improvements thereon and acquire and install certain furnishings and equipment therein (the "Project" and together with Existing Bartle Hall, the "Convention Center"); and

 

WHEREAS, to this end, Kansas City Municipal Assistance Corporation ("KCMAC") has issued, sold and delivered its Leasehold Refunding and Improvement Revenue Bonds, Series 1990B (H. Roe Bartle Convention Center Project) in the aggregate principal amount of $48,536,506.00 (the "Series 1990B Bonds") to finance part of the cost of the Convention Center, and in connection therewith has acquired the real property described as Parcels C and D on Schedule I to Exhibit A including certain rights under the Airspace Agreement identified therein; and

 

WHEREAS, KCMAC proposes (i) to issue its Leasehold Improvement Revenue Bonds, Series 1991B (H. Roe Bartle Convention Center Project) in the principal amount of approximately $130,000,000.00 to acquire and construct the Project and (ii) to lease the real estate and interests described on Schedule I to Exhibit A hereto to the City pursuant to a Master Lease Purchase Agreement dated as of September 1, 1990, as heretofore and hereafter amended and supplemented from time to time (the "Master Lease Purchase Agreement"); NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. The City hereby approves the issuance by KCMAC of its Leasehold Improvement Revenue Bonds, Series 1991B (H. Roe Bartle Convention Center Project) (the "Series 1991B Bonds"), in the aggregate principal amount of approximately $130,000,000.00 pursuant to a Master Indenture of Trust dated as of September 1, 1990, as supplemented and amended, a Second Amendment to Master Indenture of Trust and a Second Supplemental Indenture of Trust each dated as of May 1, 1991, copies of which in substantially the forms proposed to be utilized are attached hereto as Exhibits C-1 and C-2 (together, the "Indenture"), by and between KCMAC and The Merchants Bank, Kansas City, Missouri, as Trustee, for the purpose of providing funds to enable KCMAC to pay part of the costs of acquiring and constructing the Project including acquiring necessary real estate, interests therein and right of way therefor.

 

The Series 1991B Bonds shall be dated, mature, be in such denominations, bear interest at such times and have such other terms and provisions as shall be provided in the Indenture.

 

Section 2. That the Second Amendment of Base Lease between City and KCMAC be and is hereby approved in substantially the form attached hereto as Exhibit A, and that the Second Amendment of Master Lease Purchase Agreement between KCMAC and the City be and hereby is approved in substantially the form attached hereto as Exhibit B. The Director of Finance is authorized to execute and deliver the Second Amendment of Base Lease and the Second Amendment of Master Lease Purchase Agreement with such changes therein and additions thereto as the Director of Finance deems necessary or desirable.

 

Section 3. The Bond Purchase Agreement between KCMAC and the Underwriters named therein is hereby approved in substantially the form attached hereto as Exhibit D and the appropriate officers of the City are authorized to execute and deliver the documents required of the City thereunder.

 

Section 4. The Series 1991B Bonds and the interest thereon shall be limited obligations of KCMAC payable solely out of the rents, revenues and receipts received by KCMAC from the City pursuant to the Master Lease Purchase Agreement. The Series 1991B Bonds and the interest thereon shall not constitute a debt or liability of the City or of the State and shall not constitute an indebtedness within the meaning of any constitutional or debt limitation or restriction.

 

The Series 1991B Bonds shall be issued and rank on a parity with the Series 1990B Bonds.

 

Section 5. The officials of the City are further authorized and directed to execute such documents, instruments and certificates and to take such further actions on behalf of the City as shall be necessary or desirable to effect the terms and provisions of this ordinance.

 

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Approved as to form and legality:

 

 

 

 

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Assistant City Attorney