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Legislation #: 060970 Introduction Date: 8/31/2006
Type: Ordinance Effective Date: none
Sponsor: None
Title: Reducing revenue estimates and appropriations in the Kansas City Downtown Arena Project, Series 2005C Fund Number 3410, appropriating $1,430,000 in the Downtown Arena Debt Fund for fiscal year 2006-07 debt service payments on the Downtown Arena Bonds, Series 2006E and designating requisitioning authorities.

Legislation History
DateMinutesDescription
8/31/2006 Filed by the Clerk's office
8/31/2006 Referred to Finance and Audit Committee
9/6/2006 Advance and Do Pass, Debate
9/7/2006 Passed

View Attachments
FileTypeSizeDescription
060970.pdf Authenticated 88K Authenticated
sprint arena appr rev summary v5.xls Other 324K Sprint Arena Appr. Rev Summary
sprint arena fiscal note 2006 v4.xls Fiscal Note 32K Sprint Arena Fiscal Note
Sprint Arena Fact Sheet appr and est ver 2 08-18-06.xls Fact Sheet 45K Sprint Arena Fact Sheet

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ORDINANCE NO. 060970

 

Reducing revenue estimates and appropriations in the Kansas City Downtown Arena Project, Series 2005C Fund No. 3410; appropriating $1,430,000.00 in the Downtown Arena Debt Fund for fiscal year 2006-07 debt service payments on the Downtown Arena Bonds, Series 2006E; and designating requisitioning authorities.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the revenue in the following account in Fund 3410, the Kansas City Downtown Arena Project, Series 2005C is hereby reduced by the following amounts:

 

AL-3410-120000-590000 Proceeds from Sale of Bonds $152,468,764.00

AL-3410-120000-460000 Interest on Investments 9,803,162.00

AL-3410-120000-483151 Contribution from AEG 53,228,021.00

TOTAL $215,499,947.00

 

Section 2. That the appropriation in the following account of Fund No. 3410, the Kansas City Downtown Arena Project, Series 2005C is hereby reduced by the following amount:

 

AL-3410-898827-B Buildings CW $213,956,480.00

AL-3410-891254-B 1% for the Arts 1,740,305.00

TOTAL $215,696,785.00

 

Section 3. That the Director of Finance is hereby authorized to liquidate existing encumbrances in an amount not to exceed $ 157,000,000.00 in Account No. AL-3410-897770-B and AL-3410-898827.

 

Section 4. That the sum of $1,430,000.00 is hereby appropriated from the Unappropriated Fund Balance of Fund 5050, Downtown Arena Debt Fund to the following account:

Section X. That the sum of $343,000 is hereby appropriated from the Unappropriated Fund Balance of the General Fund, No. 1000

07-5050-129627-G Debt Service Downtown Arena $ 1,430,000.00

 

Section 5. That the Director of Finance is hereby designated as the requisitioning authority for Account Nos. 07-5050-129627-G.

 

_____________________________________________

 


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.

 

 

___________________________________

Debra R. Hinsvark

Director of Finance

 

Approved as to form and legality:

 

 

___________________________________

Heather A. Brown

Assistant City Attorney