ORDINANCE NO. 060141
Authorizing
the Director of Finance to accept the proposal of Koch Financial Corporation to
finance the acquisition and implementation of the PeopleSoft Customer
Relationship Management System to be used by the Information Technology
Department, in an approximate principal amount not to exceed $5,294,127.00;
executing any and all documents and agreements necessary for the financing
under a Master Lease Purchase Agreement; estimating and appropriating lease
proceeds in accounts as specifically set forth in the ordinance; declaring the
intent of the City to reimburse itself from the lease purchase proceeds for
certain expenditures; authorizing the Director of Finance to close project
accounts upon project completion; designating requisitioning authorities; and
recognizing an emergency.
WHEREAS, Ordinance No. 051192 authorized the Director of Finance to
accept the Master Lease Purchase Agreement proposal of Koch Financial
Corporation (Koch); and
WHEREAS, the purchase of the PeopleSoft Customer Relationship
Management System (Equipment) can be financed by a Master Lease Purchase
Agreement; the payment of which will be made by appropriations in the Office of
the City Manager operating budget over a period of eight (8) years; NOW,
THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section 1. That the Director of Finance is authorized to accept
the proposal of Koch for financing the acquisition of Equipment through a draw
upon the Master Lease Purchase Agreement in an approximate principal amount not
to exceed $5,294,127.00.
Section
2. That the Director of Finance is authorized to execute, deliver and file in
the name of the City, the Master Lease Purchase Agreement and any and all
documents and agreements necessary to complete such financing.
Section 3. That the revenue in the following account of Fund No.
3230, the Equipment Lease Capital Acquisition Fund, is hereby estimated in the
following amount:
AL-3230-120000-583000
Reimbursement from Bank or Lease Co. $5,294,127.00
Section 4. That the sum of $5,294,127.00 is hereby appropriated
from the Unappropriated Fund Balance of Fund No. 3230, the Equipment Lease
Capital Acquisition Fund, to the following accounts:
AL-3230-183030-A
CRM Implementation $ 81,863.00
AL-3230-183030-B CRM
Implementation 3,313,764.00
AL-3230-183030-C CRM
Implementation 371,000.00
AL-3230-183030-E CRM
Implementation 1,527,500.00
TOTAL $5,294,127.00
Section 5. That the Director of Information Technology is hereby
designated as requisitioning authority for Account No. AL-3230-183030.
Section 6. 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 7. That the City hereby
declares its official intent to reimburse itself for certain expenditures made
within 60 days prior to or on and after the date of this ordinance with respect
to the purchase of Equipment with the proceeds of lease expected to be issued
by the City. The maximum principal amount
expected to be financed under this lease purchase is $5,294,127.00. This constitutes a declaration of
official intent under Treasury Regulation 1.150-2.
Section 8. That the ordinance is
recognized as an emergency measure within the provisions of Section 15, Article
III of the Charter of Kansas City, 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.
___________________________________
Debra
R. Hinsvark
Director
of Finance
Approved
as to form and legality:
___________________________________
William
Geary
Assistant City Attorney