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Legislation #: 180638 Introduction Date: 8/30/2018
Type: Ordinance Effective Date: none
Sponsor: COUNCILMEMBER JUSTUS AND COUNCILMEMBER SHIELDS
Title: Estimating and appropriating $1,500,000.00 in the Taxable Series 2019A Special Obligation Bond Fund; designating requisitioning authority for expenditures for City Market Walnut Street infrastructure; authorizing the Director of Finance to close project accounts upon completion; and declaring the City’s intent to reimburse itself from bond proceeds.

Legislation History
DateMinutesDescription
8/28/2018 Filed by the Clerk's office
8/30/2018 Referred to Finance and Governance Committee
9/12/2018 Hold On Agenda (9/19/2018)
9/19/2018 Hold On Agenda (10/3/2018)
10/10/2018 Hold On Agenda (10/17/2018)
10/17/2018 Hold Off Agenda
7/17/2019 Referred to Committee As A Whole
7/17/2019 Release
7/17/2019 Released

View Attachments
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180638 Ordinance.pdf Other 100K Ordinance
180638 fact sheet.pdf Fact Sheet 193K Fact Sheet

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ORDINANCE NO. 180638

 

Estimating and appropriating $1,500,000.00 in the Taxable Series 2019A Special Obligation Bond Fund; designating requisitioning authority for expenditures for City Market Walnut Street infrastructure; authorizing the Director of Finance to close project accounts upon completion; and declaring the City’s intent to reimburse itself from bond proceeds.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the revenue in the following account of the Taxable Series 2019A Special Obligation Bond Fund is hereby estimated in the following amount:

 

AL-3439-120000-590000 Proceeds from Sale $1,500,000.00

 

Section 2. That the sum of $1,500,000.00 is hereby appropriated from the Unappropriated Fund Balance of the Taxable Series 2019A Special Obligation Bond Fund to the following account:

 

AL-3439-648027-B-64017005 City Market Walnut Street

Infrastructure $1,500,000.00

 

Section 3. That the Director of City Planning and Development is designated as requisitioning authority for Account No. AL-3439-648027.

Section 4. That the Director of Finance is hereby authorized to close project accounts, encumbrances, retainage balances and return any unspent project funds from which it came upon the earliest of: (i) Project’s completion, (ii) final maturity of financing, or (iii) five years after issuance.

 

Section 5. That the City anticipates issuing its special obligation bonds to finance the City Market Walnut Street Infrastructure Project (“Project”) and hereby declares its official intent to reimburse itself for certain expenditures made within sixty (60) days prior to or on and after the date of this ordinance with respect to the Project with the proceeds of bonds expected to be issued by the City. The maximum principal amount of bonds expected to be issued for the Project is not to exceed $1,500,000.00. This constitutes a declaration of official intent under Treasury Regulation Section 1.150-2.

 

_____________________________________________

 


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.

 

 

___________________________________

Randall J. Landes

Director of Finance

 

Approved as to form and legality:

 

 

___________________________________

Katherine Chandler

Assistant City Attorney