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Legislation #: 080905 Introduction Date: 9/4/2008
Type: Ordinance Effective Date: none
Sponsor: None
Title: Appropriating $13,280,820.00 from Fund No. 3410, Downtown Arena Project Fund Series C Fund and $56,778.00 from Fund No. 3411, the Downtown Arena Project Fund Series D; estimating transfers and bond proceeds in the amount of $235,725,996.00 in Fund No. 5050, Downtown Arena Debt Fund and appropriating the same; appropriating $2,718,402.00 from Fund No. 5050, Downtown Arena Debt Fund; designating requisitioning authorities; and authorizing the Director of Finance to close project accounts upon completion.

Legislation History
DateMinutesDescription
9/4/2008 Filed by the Clerk's office
9/4/2008 Referred to Finance and Audit Committee
9/10/2008 Do Pass
9/11/2008 Assigned to Third Read Calendar
9/18/2008 Passed

View Attachments
FileTypeSizeDescription
080905.pdf Authenticated 95K Authenticated
http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=080905 Video Link 0K http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=080905
Approp Admin Sprint Refunding e a v1.xls Other 493K Approp & Admin. Form
fiscal notes-Sprint Arena bond ordinance v1.xls Fiscal Note 64K Fiscal Note
Arena, E A fact sheet v1.xls Fact Sheet 56K Fact Sheet

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ORDINANCE NO. 080905

 

Appropriating $13,280,820.00 from Fund No. 3410, Downtown Arena Project Fund Series C Fund and $56,778.00 from Fund No. 3411, the Downtown Arena Project Fund Series D; estimating transfers and bond proceeds in the amount of $235,725,996.00 in Fund No. 5050, Downtown Arena Debt Fund and appropriating the same; appropriating $2,718,402.00 from Fund No. 5050, Downtown Arena Debt Fund; designating requisitioning authorities; and authorizing the Director of Finance to close project accounts upon completion.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the sum of $ 13,280,820 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 3410, Downtown Arena Project Fund Series C Fund, to the following account:

 

AL-3410-129998-905050 Transfer to Fund No. 5050 $ 13,280,820.00

 

Section 2. That the sum of $56,778.00 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 3411, Downtown Arena Project Fund Series D Fund, to the following account:

 

AL-3411-129998-905050 Transfer to Fund No. 5050 $ 56,778.00

 

Section 3. That the revenue in the following accounts of Fund No. 5050, Downtown Arena Debt Fund, is hereby estimated in the following amounts:

 

09-5050-120000-590000 Proceeds from Sale of Bonds $220,990,000.00

09-5050-120000-485100 Premium on Bonds Sold 1,398,398.00

09-5050-120000-503410 Transfer from Fund No. 3410 13,280,820.00

09-5050-120000-503411 Transfer from Fund No. 3411 56,778.00

TOTAL $235,725,996.00

 

Section 4. That the sum of $235,725,996.00 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 5050, Downtown Arena Debt Fund, to the following accounts:

 

09-5050-129620-B Bond Issue Expense $ 481,416.00

09-5050-129632-B Original Issue Discount 7,089,151.00

09-5050-129631-B Underwriter Discount 1,132,831.00

09-5050-129671-B Defeasance of IDA Series 2005C,

2005D and 2006E 227,007,598.00

09-5050-129686-B Arbitrage Rebate Calculation 15,000.00

TOTAL $235,725,996.00

 

Section 5. That the sum of $2,718,402.00 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 5050, Downtown Arena Debt Fund, to the following account:

 

09-5050-129671-B Defeasance of IDA Series 2005C,

2005D and 2006E $ 2,718,402.00

 

Section 6. That the Director of Finance is hereby designated as the requisitioning authority for Account Nos., AL-3410-129998-905050, AL-3411-129998-905050, 09-5050-129620, 09-5050-129632, 09-5050-129631, 09-5050-129671, and 09-5050-129686.

 

Section 7. 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.

 

_____________________________________________

 

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.

 

 

___________________________________

Jeffrey A. Yates

Director of Finance

 

Approved as to form and legality:

 

 

___________________________________

Heather A. Brown

Assistant City Attorney