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Legislation #: 140309 Introduction Date: 4/17/2014
Type: Ordinance Effective Date: none
Sponsor: None
Title: Renaming Fund No. 3428, the 2014A Special Obligation Bond Fund; estimating and appropriating revenue in Fund 3428, the 2014A Special Obligation Bond Fund, in Fund 3333, the 2014B Special Obligation Bond Fund, and in Fund 5401, the Refunding Bond Fund; appropriating $900,000.00 in Fund No. 3428, for the Downtown Streetcar Project, and $3,750,000.00 in Fund No. 3333 for the Traffic Signal Project; reducing CMAQ Streetcar revenue estimate and Downtown Streetcar Project appropriation in the amount of $169,800.00; designating requisitioning authorities; authorizing the Director of Finance to close project accounts upon project completion; and recognizing an emergency.

Legislation History
DateMinutesDescription
4/17/2014 Filed by the Clerk's office
4/17/2014 Referred to Finance, Governance & Ethics Committee
4/23/2014 Advance and Do Pass, Debate
4/24/2014 Passed

View Attachments
FileTypeSizeDescription
140309.pdf Authenticated 229K Authenticated
140309 Fiscal Note.pdf Fiscal Note 168K Fiscal Note
140309 Fact Sheet.pdf Fact Sheet 335K Fact Sheet
3428 Admiin Approp SO 2014 EA 4-10-14.pdf Other 16K Admin Approp
3428 Rev Admin Approp SO 2014 EA 4-10-14.pdf Other 12K Admin Approp
5401 Approp SO 2014 EA 4-10-14.pdf Other 16K Admin Approp
5401 Rev SO 2014 EA 4-10-14.pdf Other 11K Admiin Approp
3333 Rev SO 2014 EA Ordiance 4-10-14.pdf Other 12K Admin Approp
3333 Admin SO 2014 EA Ordiance 4-10-14.pdf Other 16K Admin Approp

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ORDINANCE NO. 140309

 

Renaming Fund No. 3428, the 2014A Special Obligation Bond Fund; estimating and appropriating revenue in Fund 3428, the 2014A Special Obligation Bond Fund, in Fund 3333, the 2014B Special Obligation Bond Fund, and in Fund 5401, the Refunding Bond Fund; appropriating $900,000.00 in Fund No. 3428, for the Downtown Streetcar Project, and $3,750,000.00 in Fund No. 3333 for the Traffic Signal Project; reducing CMAQ Streetcar revenue estimate and Downtown Streetcar Project appropriation in the amount of $169,800.00; designating requisitioning authorities; authorizing the Director of Finance to close project accounts upon project completion; and recognizing an emergency.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the name of Fund 3428, the 2013A Special Obligation Bond Fund is hereby changed to the 2014A Special Obligation Bond Fund.

 

Section 2. That the revenue in the following accounts of Fund 3428, 2014A Special Obligation Bond Fund is hereby estimated in the following amounts:

 

AL-3428-120000-590000 Proceeds from Sale of Bonds $1,955,000.00

AL-3428-120000-485100 Premium on Bonds 3,942,297.00

TOTAL $5,897,297.00

 

Section 3. That the sum of $5,897,297.00 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 3428, 2014A Special Obligation Bond Fund to the following accounts:

 

AL-3428-129620-B Bond Issuance Expense $ 226,030.00

AL-3428-129631-B Underwriter Discount 324,142.00

AL-3428-129686-B Arbitrage Rebate Calculation 10,000.00

AL-3428-898044-B Downtown Streetcar Project 900,000.00

AL-3428-129611-B Debt Service Reserve 4,437,125.00

TOTAL $5,897,297.00

 

Section 4. That the revenue in the following accounts of Fund 3333, 2014B Special Obligation Bond Fund is hereby estimated in the following amounts:

 

AL-3333-120000-590000 Proceeds from Sale of Bonds $2,450,000.00

AL-3333-120000-485100 Premium on Bonds 1,448,800.00

TOTAL $3,898,800.00


Section 5. That the sum of $3,898,800.00 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 3333, 2014B Special Obligation Bond Fund to the following accounts:

 

AL-3333-129632-B Original Issue Discount $ 8,374.00

AL-3333-129620-B Bond Issuance Expense 61,189.00

AL-3333-129631-B Underwriter Discount 69,237.00

AL-3333-129686-B Arbitrage Rebate Calculation 10,000.00

AL-3333-897731-B Traffic Signal Project 3,750,000.00

TOTAL $3,898,800.00

 

Section 6. That the revenue in the following accounts of Fund 5401, Refunding Bond Fund is hereby estimated in the following amounts:

 

AL-5401-120000-590000 Proceeds from Sale of Bonds $32,775,000.00

AL-5401-120000-485100 Premium on Bonds 645,735.00

TOTAL $33,420,735.00

 

Section 7. That the sum of $33,420,735.00 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 5401, Refunding Bond Fund to the following accounts:

 

AL-5401-129632-B Original Issue Discount $ 497,257.00

AL-5401-129620-B Bond Issuance Expense 127,681.00

AL-5401-129631-B Underwriter Discount 179,043.00

AL-5401-129686-B Arbitrage Rebate Calculation 10,000.00

AL-5401-129671-G Partial Defeasance of IDA 2005A 10,901,485.00

AL-5401-129671-G Partial Defeasance of IDA 2011A 21,705,269.00

TOTAL $33,420,735.00

 

Section 8. That the revenue in the following account of Fund 3428, 2014A Special Obligation Bond Fund is hereby reduced by the following amount:

 

AL-3428-120000-476365 CMAQ Streetcar $ 169,800.00

 

Section 9. That the appropriation in the following account of Fund No. 3428, 2014A Special Obligation Bond Fund is hereby reduced by the following amount:

 

AL-3428-898044-B Downtown Streetcar Project $ 169,800.00

Section 10. That the Director of Finance is hereby designated as requisitioning authority for Account Nos. AL-3428-129631, AL-3428-129620, AL-3428-129611, AL-3428-129686, AL-3333-129631, AL-3333-129620, AL-3333-129632, AL-3333-129686, AL-5401-129631, AL-5401-129620, AL-5401-129632, AL-5401-129686, AL-5401-129671 that the Director of Public Works is hereby designated as requisitioning authority for Account Nos. AL-3333-897731 and AL-3428-898044.

Section 11. That the Director of Finance is hereby authorized to close project accounts upon project completion and return the unspent portion of the appropriation to the Fund Balance from which it came.

 

Section 12. That this ordinance is recognized as an emergency measure within the provisions of 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:

 

 

Sarah Baxter

Assistant City Attorney