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Legislation #: 970456 Introduction Date: 4/10/1997
Type: Ordinance Effective Date: 4/24/1997
Sponsor: None
Title: Establishing the 1997 Airport Refunding Bond Fund; estimating bond proceeds in the 1997 Airport Refunding Bond Fund in the amount of $31,044,252.00 and appropriating same; estimating revenue in the KC Airports Fund; appropriating $1,549,252.00 from the Unappropriated Fund Balance of the KC Airports Fund; designating requisitioning authority; authorizing the Director of Finance to close project accounts upon completion; and recognizing an emergency.

Legislation History
DateMinutesDescription
4/10/1997

Prepare to Introduce

4/10/1997

Referred Finance & Administration Committee

4/16/1997

Do Pass

4/17/1997

Assigned to Third Read Calendar

4/24/1997

Passed


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ORDINANCE NO. 970456

 

Establishing the 1997 Airport Refunding Bond Fund; estimating bond proceeds in the 1997 Airport Refunding Bond Fund in the amount of $31,044,252.00 and appropriating same; estimating revenue in the KC Airports Fund; appropriating $1,549,252.00 from the Unappropriated Fund Balance of the KC Airports Fund; designating requisitioning authority; authorizing the Director of Finance to close project accounts upon completion; and recognizing an emergency.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Fund No. 833, 1997 Airport Refunding Bond Fund, is hereby established in the records of the City of Kansas City, Missouri.

 

Section 2. That the revenue in the following accounts of the 1997 Airport Refunding Bond Fund is hereby estimated in the following amounts:

 

97-833-012-9000 Proceeds from Sale of Bonds $29,495,000.00 97-833-012-9238 Transfer from KC Airports Fund 1,549,252.00 TOTAL $31,044,252.00

 

Section 3. That the sum of $31,044,252.00 is hereby appropriated from the Unappropriated Fund Balance of the 1997 Airport Refunding Bond Fund to the following accounts:

 

97-833-012-9620-B Bond Issue Expense $ 269,891.00 97-833-012-9631-B Discount on Sale of Bonds 291,441.00 97-833-012-9659-G Defeasance of Series 1994B 30,482,920.00 TOTAL $31,044,252.00

 

Section 4. That the revenue in the following account of the KC Airports Fund is hereby estimated in the following amount:

 

97-821-012-6071 Accrued Interest-Sale of Bonds $ 80,970.00

 

Section 5. That the sum of $1,549,252.00 is hereby appropriated from the Unappropriated Fund Balance of the KC Airport Fund to the following account:

 

97-821-012-9461-B Transfer to 1997 Airport Refunding Bond $ 1,549,252.00 Fund

 

Section 6. That the Director of Finance is hereby designated as the requisitioning authority for Account Nos. 97-833-012-9620-B, 97-833-012-9631-B, 97-833-012-9659-G and 97-821-012-9461-B.

 

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.

 

Section 8. That this ordinance making an appropriation for the current expense of the City is recognized as an emergency measure within the provisions of Section 15, Article II of the Charter of Kansas City, and shall take effect immediately upon passage.

 

_____________________________________________

 

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