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Legislation #: 080950 Introduction Date: 9/18/2008
Type: Ordinance Effective Date: 10/12/2008
Sponsor: None
Title: Estimating $5,807,500.00 in Fund 8300 of the Kansas City Airports Fund and appropriating the same; estimating $33,004,715.00 in Fund 8400 of the General Improvement Airport Refunding Revenue Bond Fund from the sale of Series 2008A General Improvement Airport Refunding Revenue Bonds and appropriating the same; designating requisitioning authority; and authorizing the Director of Finance to close project accounts upon completion.

Legislation History
DateMinutesDescription
9/17/2008 Filed by the Clerk's office
9/18/2008 Referred to Finance and Audit Committee
9/24/2008 Do Pass
9/25/2008 Assigned to Third Read Calendar
10/2/2008 Passed

View Attachments
FileTypeSizeDescription
080950.pdf Authenticated 96K Authenticated
http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=080950 Video Link 0K http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=080950
Fact_sheet_Aviation Bond Sale 8-26-08.xls Fact Sheet 124K Fact Sheet
approp _ admin(2) 8-27-08.xls Other 336K Airport, Series 2008A
fiscal notes for Aviation Bonds 8-27-08.xls Fiscal Note 59K Airport, Series 2008A

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ORDINANCE NO. 080950

 

Estimating $5,807,500.00 in Fund 8300 of the Kansas City Airports Fund and appropriating the same; estimating $33,004,715.00 in Fund 8400 of the General Improvement Airport Refunding Revenue Bond Fund from the sale of Series 2008A General Improvement Airport Refunding Revenue Bonds and appropriating the same; designating requisitioning authority; and authorizing the Director of Finance to close project accounts upon completion.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the revenue in the following accounts of Fund 8300 of the Kansas City Airports Fund is hereby estimated in the following amounts:

 

09-8300-620000-485200 Fund Balance DSRF $ 2,949,500.00

Section 2. That the sum of $ 2,949,500.00 is hereby appropriated from the Unappropriated Fund Balance of Fund 8300 of the Kansas City Airports Fund to the following accounts:

 

09-8300-129998-X Transfer to Fund No.8400 $ 2,949,500.00

Section 3. That the revenue in the following accounts of Fund 8400 of the General Improvement Airport Revenue Bond Fund is hereby estimated in the following amounts:

 

AL-8400-620000-590000 Proceeds from Sale of Bonds $28,580,000.00

AL-8400-620000-485100 Premium on Bonds Sold 1,475,215.00

AL-8400-620000-508300 Transfer from Fund 8300 2,949,500.00 TOTAL $33,004,715.00

 

Section 4. That the sum of $ 33,004,715.00 is hereby appropriated from the Unappropriated Fund Balance of Fund 8400 of the General Improvement Airport Refunding Revenue Bond Fund to the following accounts:

 

AL-8400-129620-B Bond Issue Expense $ 250,385.00

AL-8400-129631-B Underwriter Discount 92,885.00

AL-8400-129998-X Transfer to Fund 8300 2,858,000.00

AL-8400-129671-G Defeasance of Series 1997 29,803,445.00

TOTAL $33,004,715.00

 

Section 5. That the revenue in the following account of Fund 8300 of the Kansas City Airports Fund is hereby estimated in the following amounts:

 

09-8300-620000-508400 Transfer from Fund 8400 $ 2,858,000.00

 

Section 6. That the sum of $2,858,000.00 is hereby appropriated from the Unappropriated Fund Balance of Fund 8300 of the Kansas City Airports Fund to the following accounts:

 

09-8300-629611-G Debt Service Reserve $ 2,858,000.00

Section 7. That the Director of Finance is hereby designated as requisitioning authority for Account Nos. AL-8400-129620, AL-8400-129631, AL-8400-129998 and AL-8400-129671 and the Director of Aviation is hereby designated as requisitioning authority for Account Nos. 09-8300-129998and 09-8300-629611.

 

Section 8. 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.

 

 

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.

 

 

Jeffrey A. Yates

Director of Finance/CFO

 

Approved as to form and legality:

 

 

Heather A. Brown

Assistant City Attorney