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Legislation #: 921136 Introduction Date: 10/1/1992
Type: Ordinance Effective Date: 10/25/1992
Sponsor: None
Title: Authorizing acceptance of a HUD Section 108 Loan Guarantee in the amount of $2,000,000.00 for the GEM Theater Redevelopment Project and authorizing execution of contract for said loan; estimating revenue in the amount of $2,000,000.00 in Account No. 254-055-7711; appropriating $2,000,000.00 from the Unappropriated Fund Balance of the Section 108 Fund to Account No. 254-055-2138; and designating requisitioning authority.

Legislation History
DateMinutesDescription
10/1/1992

Prepare to Introduce

10/1/1992

Referred Plans And Zoning Committee

10/7/1992

Do Pass

10/8/1992

Assigned to Third Read Calendar

10/15/1992

Passed


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ORDINANCE NO. 921136

 

Authorizing acceptance of a HUD Section 108 Loan Guarantee in the amount of $2,000,000.00 for the GEM Theater Redevelopment Project and authorizing execution of contract for said loan; estimating revenue in the amount of $2,000,000.00 in Account No. 254-055-7711; appropriating $2,000,000.00 from the Unappropriated Fund Balance of the Section 108 Fund to Account No. 254-055-2138; and designating requisitioning authority.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Mayor is hereby authorized to accept, on behalf of the City of Kansas City, a HUD Section 108 Loan Guarantee, B-91-MC-29-0003, in the amount of $2,000,000.00 for the GEM Theater Redevelopment Project and to execute the contract with the U.S. Department of Housing and Urban Development to implement the Loan Guarantee.

 

Section 2. That the revenue in the following account of the Section 108 Fund is hereby estimated in the following amount:

 

254-055-7711 GEM Theater $2,000,000.00

 

Section 3. That the sum of $2,000,000.00 is hereby appropriated from the Unappropriated Fund Balance of the Section 108 Fund to the following account in said Fund:

 

254-055-2138 GEM Theater $2,000,000.00

 

Section 4. That the Director of Housing and Community Development is hereby designated as requisitioning authority for Account No. 254-055-2138.

 

________________________________________________________

 

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.

 

 

____________________________________

Director of Finance

 

Approved as to form and legality:

 

 

 

___________________________________

Assistant City Attorney