COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 120377

Taking final action to implement the pension benefits for former MAST employees set forth in Committee Substitute for Ordinance No. 100607, As Amended, and Committee Substitute for Ordinance No. 110588, following receipt of public comments and transferring the remaining balances of MAST’s operating accounts to the City’s operating bank account upon approval of the MAST Board of Directors; and recognizing an emergency.

WHEREAS, Committee Substitute for Ordinance No. 100607, As Amended, (“Ordinance”) required that a cost statement for the plan benefits be prepared and then made available as public information for 45 days in the office of the City Clerk; and

WHEREAS, the cost statement of the pension plan set out in the Ordinance was filed in the City Clerk’s Office on February 17, 2012; and

WHEREAS, public comments were received during the 45 day period and have been reported back to the City Council as required under the Ordinance; and

WHEREAS, the City Council desires to take final action to adopt the pension benefits set out in the Ordinance; and

WHEREAS, the operating accounts for MAST will be closed upon approval of the MAST Board of Directors and the remaining balances transferred to the City’s operating bank account; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the City Council hereby takes final action to adopt the pension benefits set out in Committee Substitute for Ordinance No. 100607, As Amended, and Committee Substitute for Ordinance No. 110588, after receiving a report of the public input concerning the cost statement filed with the City Clerk’s Office for forty-five days.

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

12-1000-140000-485370 Contribution from MAST $4,600,000.00

Section 3. That the sum of $4,600,000.00 is hereby appropriated from the Unappropriated Fund Balance of the General Fund to the following account:

12-1000-142200-B  Retirement   $4,600,000.00

Section 4. That the unexpended and unencumbered balance in the following account in the General Fund is appropriated to the same account in Fiscal Year 2012-13:

12-1000-142200-B            Retirement                           

Section 5. That the uncollected revenue in Account No. 12-1000-140000-485370, Contribution from MAST in the General Fund is re-estimated in the same account in Fiscal Year 2012-13.

Section 6. That this ordinance is recognized as an emergency measure within the provisions of Section 503 of the City Charter in that it appropriates money, and shall take effect in accordance with that section.

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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.

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Randall J. Landes

Director of Finance

Approved as to form and legality:

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Lana K. Torczon

Assistant City Attorney