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Legislation #: 051059 Introduction Date: 8/25/2005
Type: Ordinance Effective Date: none
Sponsor: None
Title: Authorizing the Director of Finance to proceed with the development of financing the Citywide PC Life Cycle Program under a Master Lease Purchase Agreement with a municipal leasing institution and to execute any and all documents and agreements necessary to finance the project, and authorizing the Director of Information Technology to use all available balances and encumbrances in the PC Life Cycle account of the Equipment Lease Capital Acquisition Fund, and declaring the intent of the City to reimburse itself from the lease purchase proceeds for certain expenditures.

Legislation History
DateMinutesDescription
8/25/2005 Filed by the Clerk's office
8/25/2005 Referred to Finance Committee
8/31/2005 Advance and Do Pass, Debate
9/1/2005 Held on Docket (9/8/2005)
9/8/2005 Passed

View Attachments
FileTypeSizeDescription
051059.pdf Authenticated 104K Authenticated
fact sheet PC Life 2005-ver2 (final).xls Fact Sheet 51K Fact Sheet
fiscal notes for fact sheet-PC lifecycle.xls Fiscal Note 52K Fiscal Note

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ORDINANCE NO. 051059

 

Authorizing the Director of Finance to proceed with the development of financing the Citywide PC Life Cycle Program under a Master Lease Purchase Agreement with a municipal leasing institution and to execute any and all documents and agreements necessary to finance the project, and authorizing the Director of Information Technology to use all available balances and encumbrances in the PC Life Cycle account of the Equipment Lease Capital Acquisition Fund, and declaring the intent of the City to reimburse itself from the lease purchase proceeds for certain expenditures.

 

WHERAS, Ordinance No. 990329 established the PC Life Cycle Program for Kansas City, Missouri, and

 

WHEREAS, Ordinance No. 031120 changed the refresh cycle from three years to four years, while also changing the program from a lease-based program to a financed-based program and further stated that the Departments of Finance and Information Technology have jointly determined that it is in the best interest of the City to use the Master Lease Purchase Agreement with Banc of America Leasing & Capital, LLC, for financing the Citys PC Life Cycle Program; and

 

WHEREAS, the Master Lease Purchase Agreement with Banc of America Leasing & Capital, LLC, expired on April 30, 2005; and

 

WHEREAS, the City is in the process of selecting a leasing company to provide funds for the Citywide PC Life Cycle Program under a Master Lease Purchase Agreement; and

 

WHEREAS, this ordinance will allow continued implementation of the PC Life Cycle Program to a limit of $1,500,000.00 in annual debt service payments insofar as funds are appropriated for this purpose; and

 

WHEREAS, funds for the monthly purchase of personal computers and associated equipment from World Wide Technology will be provided by a draw upon the Citys Master Lease Purchase Agreement with a Leasing Company through Fiscal Year 2006, the payment of which will be made by annual appropriations in the Information Technology Departments budget over a four-year period; NOW, THEREFORE

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Director of Finance is authorized to proceed with the development of a financing plan for providing funds for the Citywide PC Life Cycle Program for fiscal year 2006 through a Master Lease Purchase Agreement with a leasing company and one or more Schedules of Property thereto, and the Director of Finance is authorized to execute, deliver and file in the name of the City, any and all documents and agreements necessary to complete such transactions.

 

Section 2. That the Director of Information Technology is hereby authorized to use all remaining appropriation in account number AL-3230-183000-E.

 

Section 3. 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 4. That the City declares its 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 PC Life Cycle Program with the proceeds of the lease purchase expected to be drawn upon the Master Lease Purchase Agreement with a Leasing Company.

 

______________________________________________

 

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.

 

 

 

__________________________________

Wanda Gunter

Acting Director of Finance

 

Approved as to form and legality:

 

 

___________________________________

Heather A. Brown

Assistant City Attorney