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.

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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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Wanda Gunter

Acting Director of Finance

Approved as to form and legality:

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Heather A. Brown

Assistant City Attorney