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Legislation #: 900743 Introduction Date: 11/29/1990
Type: Ordinance Effective Date: none
Sponsor: COUNCILMEMBER HAZLEY
Title: Authorizing a contract with Municipal Funding, Inc., permitting assignment to it of payments owed on City contracts and agreeing to indemnify it against losses on such assignments.

Legislation History
DateMinutesDescription
11/28/1990

Prepare to Introduce

11/29/1990

Referred Audit And Operations Committee

12/5/1990

Advance and Do Pass

12/6/1990

Passed


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ORDINANCE NO. 900743

 

Authorizing a contract with Municipal Funding, Inc., permitting assignment to it of payments owed on City contracts and agreeing to indemnify it against losses on such assignments.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Director of Finance is hereby authorized to enter into and execute a contract with Municipal Funding, Inc. to permit assignment of payments on City contracts to Municipal Funding, Inc., and to indemnify Municipal Funding, Inc. against any losses incurred in connection with such assignments. The contract shall be essentially in the form which is attached hereto and incorporated herein by reference.

 

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Approved as to form and legality:

 

 

 

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Assistant City Attorney