KC Skyline

City Clerk Web Search

Search the Ordinances:

Legislation #: 010580 Introduction Date: 4/12/2001
Type: Ordinance Effective Date: 4/29/2001
Sponsor: None
Title: Approving a financing agreement in connection with the Chouteau Crossing Improvement Project.

Legislation History
DateMinutesDescription
4/12/2001

Prepare to Introduce

4/12/2001

Referred Finance and Audit Committee

4/18/2001

Advance and Do Pass

4/19/2001

Passed


View Attachments
FileTypeSizeDescription
01-010580.PDF Other 243K Authenticated and addl documents

Printer Friendly Version

 

ORDINANCE NO. 010580

 

Approving a financing agreement in connection with the Chouteau Crossing Improvement Project.

 

WHEREAS, the Council on October 19, 2000 by Ordinance No. 001391 created a neighborhood improvement district pursuant to the Neighborhood Improvement District Act, Sections 67.453 to 67.475, inclusive, of the Revised States of Missouri, as amended (the "NID Act"), known as the "Chouteau Crossing Improvement Project" for the purpose of financing the construction of certain public improvements (the "NID District"); and

 

WHEREAS, Chouteau Development Company, L.L.C. (the "Redeveloper") has requested that the Tax Increment Financing Commission of Kansas City, Missouri (the "Commission") and the City assist in the financing and refinancing of the Chouteau Crossing Improvement Project through the issuance of the Commission's Tax Increment Revenue Bonds (Chouteau I-35 Project) in a maximum principal amount of $6,630,000.00 (the "Bonds"); and

 

WHEREAS, the Commission, the City, the Redeveloper and the Trustee will enter into a Financing Agreement to provide that the proceeds of the Bonds are used to finance the acquisition of property, road, storm sewer and sanitary sewer improvements and other public improvements and related infrastructure adjacent to the Chouteau Crossings Project in Kansas City, Missouri (the "Project"); NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. The Director of Finance is hereby authorized to enter into the Financing Agreement and all other necessary agreements and certificates in connection with the issuance and sale of the Bonds.

 

Section 2. The City and its officers, agents and employees are hereby authorized and directed to, take such further action, and execute such other documents, certificates and instruments, as may be necessary or desirable to carry out and comply with the intent of this ordinance, and to carry out, comply with and perform the duties of the City with respect to the Bonds and the Financing Agreement.

 

__________________________________________________________________

 

Approved as to form and legality:

 

 

 

________________________________

Assistant City Attorney