KC Skyline

City Clerk Web Search

Search the Ordinances:

Legislation #: 190250 Introduction Date: 4/4/2019
Type: Ordinance Effective Date: 4/12/2019
Sponsor: None
Title: Estimating net revenues of $448,339.07 and appropriating the same in Fund 3519, the GO Bond 2019 Q1 Fund; estimating net revenues of $143,136.00 and appropriating the same in Fund 3619, the GO Bond 2019 Q2 Fund; estimating net revenues of $208,159.43 and appropriating the same in Fund 3719, the GO Bond 2019 Q3 Fund; designating requisitioning authority; authorizing the Director of Finance to close project accounts; and recognizing this ordinance as having an accelerated effective date.

Legislation History
DateMinutesDescription
4/2/2019 Filed by the Clerk's office
4/4/2019 Referred to Finance and Governance Committee
4/10/2019 Advance and Do Pass, Debate
4/11/2019 Passed

View Attachments
FileTypeSizeDescription
190250.pdf Authenticated 105K Authenticated Ordinance
ScanDoc391.pdf Other 229K Accounting and Admin Forms
ScanDoc395.pdf Fiscal Note 189K Fiscal Note
ScanDoc394.pdf Fact Sheet 409K Fact Sheet

Printer Friendly Version

ORDINANCE NO. 190250

 

Estimating net revenues of $448,339.07 and appropriating the same in Fund 3519, the GO Bond 2019 Q1 Fund; estimating net revenues of $143,136.00 and appropriating the same in Fund 3619, the GO Bond 2019 Q2 Fund; estimating net revenues of $208,159.43 and appropriating the same in Fund 3719, the GO Bond 2019 Q3 Fund; designating requisitioning authority; authorizing the Director of Finance to close project accounts; and recognizing this ordinance as having an accelerated effective date.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That revenue of $1,889,500.00 is hereby reduced in Fund 3519, the GO Bond 2019 Q1 Fund, in the following account:

 

AL-3519-120000-590000 Bond Proceeds $1,889,500.00

 

Section 2. That the revenue in the following accounts of Fund 3519, the GO Bond 2019 Q1 Fund, is hereby estimated in the following amount:

 

AL-3519-120000-485100 Premium on Sale of Bonds $2,337,839.07

Section 3. That the sum of $448,339.07 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 3519, the GO Bond 2019 Q1 Fund, to the following accounts:

 

AL-3519-129620-B Cost of Issuance $ 128,309.10

AL-3519-129686-B Arbitrage Rebate Calculation 5,606.56

AL-3519-129631-B Underwriters’ Discount 160,438.44

AL-3519-129632-B Discount on Sale of Bonds 153,984.97

TOTAL $ 448,339.07

Section 4. That revenue of $620,826.00 is hereby reduced in Fund 3619, the GO Bond 2019 Q2 Fund, in the following account:

 

AL-3619-120000-590000 Bond Proceeds $ 620,826.00

 

Section 5. That the revenue in the following account of Fund 3619, the GO Bond 2019 Q2 Fund, is hereby estimated in the following amounts:

 

AL-3619-120000-485100 Premium on Sale of Bonds $ 763,962.00

Section 6. That the sum of $143,136.00 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 3619, the GO Bond 2019 Q2 Fund, to the following accounts:

 

AL-3619-129620-B Cost of Issuance $ 38,536.64

AL-3619-129686-B Arbitrage Rebate Calculation 1,832.78

AL-3619-129631-B Underwriters’ Discount 52,447.18

AL-3619-129632-B Discount on Sale of Bonds 50,319.40

TOTAL $ 143,136.00

Section 7. That revenue of $11,858,802.00 is hereby reduced in Fund 3719, the GO Bond 2019 Q3 Fund, in the following account:

 

AL-3719-120000-590000 Bond Proceeds $11,858,802.00

 

Section 8. That the revenue in the following accounts of Fund 3719, the GO Bond 2019 Q3 Fund, is hereby estimated in the following amounts:

 

AL-3719-120000-485100 Premium on Sale of Bonds $ 1,066,961.43

AL-3719-120000-503720 Transfer from GO Bond 2020 Q3 Fund 11,000,000.00 TOTAL $12,066,961.43

Section 9. That the sum of $208,159.43 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 3719, the GO Bond 2019 Q3 Fund, to the following accounts:

 

AL-3719-129620-B Cost of Issuance $ 62,045.68

AL-3719-129686-B Arbitrage Rebate Calculation 2,560.66

AL-3719-129631-B Underwriters’ Discount 73,276.21

AL-3719-129632-B Discount on Sale of Bonds 70,276.88

TOTAL $ 208,159.43

 

Section 10. That the Director of Finance is hereby designated as requisitioning authority for Account Nos. AL-3519-129620, AL-3519-129686, AL-3519-129631, AL-3519-129632, AL-3619-129620, AL-3619-129686, AL-3619-129631, AL-3619-129632, and AL-3719-129620, AL-3719-129686, AL-3719-129631, and AL-3719-129632.

 

Section 11. That the Director of Finance is hereby authorized to close project accounts, encumbrances, and retainage related to the accounts in Sections 3, 6, and 9, and return the unspent portion to the Fund Balance from which it came upon the earliest of: (i) the Project’s completion; (ii) final maturity of financing; or (iii) five years after issuance.

Section 12. That this ordinance is recognized as an ordinance with an accelerated effective date as provided by Section 503(a)(3)(C) 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:

 

 

_____________________________

Katherine Chandler

Assistant City Attorney