ORDINANCE NO. 050515
In conjunction with the Kansas
City Downtown Arena Project, establishing Fund No. 3406, renaming Fund Nos.
3405 and 5050, reestimating revenues in the total amount of $38,000,000.00 and
reappropriating funds in various fund numbers in order to repay funds previously
borrowed for the Arena Project; designating requisitioning authorities;
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 Fund
No. 3406, Kansas City Downtown Arena Project, Series D is hereby established in
the records of the City of Kansas City, Missouri.
Section 2. That
Fund No. 3405 is hereby renamed to Kansas City Downtown Arena Project, Series
C.
Section 3. That
Fund No. 5050 is hereby renamed to Kansas City Downtown Arena Debt Fund.
Section 4. That the
additional revenue in the following account of Fund No. 3405, Kansas City
Downtown Arena, Series C is hereby estimated in the following amounts:
AL-3405-120000-590000 Proceeds
from Sale of Bonds $19,530,500.00
Section 5. That
the sum of $19,530,500.00 is hereby appropriated from the Unappropriated Fund
Balance of Fund No. 3405, Kansas City Downtown Arena Project, Series C to the
following account:
AL-3405-897229-B Arena
Improvement $19,530,500.00
Section 6. That the
revenue in the following account of Fund No. 3406, Kansas City Downtown Arena
Project, Series D is hereby estimated in the following amount:
AL-3406-120000-590000 Proceeds
from Sale of Bonds $18,469,500.00
Section 7. That the
sum of $18,469,500.00 is hereby appropriated from the Unappropriated Fund
Balance of Fund No. 3406, Kansas City Downtown Arena Project, Series D to the
following account:
AL-3406-897229-B Arena
Improvement $18,469,500.00
Section 8. That the
Director of Public Works and the Director of Finance are hereby authorized to
transfer existing encumbrances and expenditures in the 3405 and 5050 fund
numbers to proper accounts in the 3405 and 3406 funds in order to achieve
correct allocation of expenditures between Kansas City Downtown Arena Project
Series C and D Bonds.
Section 9. That the
appropriation in the following account of Fund No. 5050, Downtown Arena Debt
Fund is hereby reduced by the following amount:
05-5050-897770-B Downtown
Arena $ 8,000,000.00
05-5050-897770-E Downtown
Arena 15,000,000.00
TOTAL $23,000,000.00
Section 10. That the
sum of $15,000,000.00 is hereby appropriated from the Unapppropriated Fund
Balance of Fund No. 5050, Downtown Arena Debt Fund to the following account:
05-5050-129001-X Transfer
to General Fund $ 3,000,000.00
05-5050-129018-X Transfer
to Local Use Tax Fund 12,000,000.00
TOTAL
$15,000,000.00
Section 11. That the
revenue in the following account of Fund No. 2100, Local Use Tax Fund is hereby
estimated in the following amount:
05-2100-120000-593190 Transfer
from Arena Debt Fund $12,000,000.00
Section 12. That the
sum of $12,000,000.00 is hereby appropriated from the Unappropriated Fund
Balance of Fund No. 2100, Local Use Tax Fund to the following account:
05-2100-897702-A Minor Bridge Repair $ 2,500,000.00
05-2100-897702-B Minor Bridge Repair 9,500,000.00
$12,000,000.00
Section 13. That the
revenue in the following account of Fund No. 1000, General Fund is hereby
estimated in the following amount:
05-1000-120000-593190 Transfer
from Arena Debt Fund $ 3,000,000.00
Section 14. That the
sum of $3,000,000.00 is hereby appropriated from the Unappropriated Fund
Balance of Fund No. 1000, General Fund to the following account:
05-1000-897731-B Traffic
Signal Safety Improvements $ 3,000,000.00
Section 15.
That the City Manager is hereby designated as requisitioning authority for
Account Nos. AL-3405-897229-B and AL-3406-897229-B and the Director of Public
Works is hereby designated as requisitioning authority for Account Nos.
05-2100-897702-A, 05-2100-897702-B and 05-1000-897731-B and that the Director
Finance is hereby designated as requisitioning authority for Account Nos.
05-5050-129001-X, and 05-5050-129018-X, .
Section 16. 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 17. This
ordinance is declared to be an emergency measure within the provisions of
Section 15, Article III of the Charter and shall take effect immediately upon
its 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.
___________________________________
Wanda
Gunter
Acting
Director of Finance
Approved
as to form and legality:
___________________________________
Heather
A. Brown
Assistant City Attorney