COMMITTEE
SUBSTITUTE FOR ORDINANCE NO. 200222
Authorizing the City Manager to enter into a Cost Apportionment Agreement with the
Missouri Highways and Transportation Commission for the U.S. 169
“Buck” O'Neil Bridge over the Missouri River Project; establishing
Fund No. 3442, the Special
Obligation Series 2021A Fund;
estimating revenue and appropriating $72,800,000.00 in Fund No. 3442 the Special Obligation Series 2021A Fund; declaring the intent of the City to reimburse itself from the bond
proceeds for certain expenditures; authorizing the Director of Finance to close
project accounts upon completion; and establishing the effective date of this ordinance.
WHEREAS, Resolution
No. 170265 directed the City Manager
to engage with regional partners to develop
and recommend a regional funding strategy to
build a new US 169/Buck
O’Neil Bridge ("Bridge"); and
WHEREAS, in November of 2017, the Mid-America
Regional Council approved $40,000,000
from the region’s share of the Federal Highway Administration Surface Transportation Program funding
towards construction of a replacement of the Bridge; and
WHEREAS, the Missouri Highways and Transportation
Commission (“MHTC”) has agreed to provide up to half
of the construction costs of a
replacement Bridge with direct connections from US 169 to
I-35; and
WHEREAS, Resolution No. 170807 expressed the City’s support for the City
applying for a 2017 Transportation Investment Generating Economic
Recovery (TIGER 2017) Grant
and a 2017-2018 Infrastructure for Rebuilding America (INFRA 2017-2018)
Grant for the replacement of the Bridge; and
WHEREAS, Ordinance No. 180068 authorized the City Manager to enter into a Cost Sharing Agreement with MHTC for the
U.S. 169 “Buck” O'Neil Bridge over the Missouri River project to complete short term repairs on the existing
bridge and to complete the environmental assessment necessary to construct a new bridge;
and
WHEREAS, on
April 3, 2018, the voters of Kansas City
extended for 20 years the
City’s current 1% sales tax to be
used for capital improvements and to codify
dedication of the available
annual sales tax receipts with 35%
for neighborhood conservation,
maintenance and improvements divided
equally among Council districts, at least
25% for
street resurfacing, repair, and the construction
of complete street facilities, and the
remainder allocated for other capital
improvements, including the City’s share of the
costs for the replacement of the Buck O’Neil Bridge; and
WHEREAS, the project scope includes reconstruction and
improvement of public roads (“Roads”) accessing into the Charles B. Wheeler Downtown
Airport and the Roads are deemed an essential asset to the Downtown Airport;
and
WHEREAS,
the Aviation Department will contribute a maximum amount not to exceed
$4,000,000.00, plus a proportionate amount of financing costs if any, towards
the City’s total financial contribution required under the Cost Apportionment
Agreement; and
WHEREAS, the parties
desire to enter into a cooperative funding agreement
outlining the terms and conditions of providing for the construction of a Bridge; NOW,
THEREFORE,
BE IT ORDAINED
BY THE
COUNCIL OF KANSAS CITY:
Section 1. That the City Manager is hereby authorized to execute
a Cost Apportionment Agreement with the Missouri Highways and Transportation Commission for the U.S. 169
“Buck” O'Neil Bridge over the Missouri River project.
Section 2. That Fund No. 3442, the Special Obligation Series 2021A Bond Fund, is
hereby established in the
records of the City
of Kansas City, Missouri.
Section 3. That the revenue
in the
following account of the Special Obligation Series 2021A Bond Fund, is hereby estimated in the following amount:
AL-3442-120000-590000 Bond Proceeds $72,800,000.00
Section 4. That the sum
of $72,800,000.00 is hereby appropriated from the
Unappropriated Fund Balance of the Special Obligation Series 2021A Bond Fund to the
following accounts:
AL-3442-898024-B-89005594 Buck
O’Neil Bridge $72,500,000.00
AL-3442-129620-B Cost
of Issuance 300,000.00
TOTAL $72,800,000.00
Section 5. That the Director
of Public Works is hereby designated as requisitioning authority for Account No. AL-3442-898024-B, and that the Director of Finance is hereby
designated as requisitioning authority for Account No. AL-3442-129620.
Section
6. That the City Council 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 appropriations
in Section 4 (“Appropriations”), with the
proceeds of bonds expected to be issued
by the City. The maximum principal amount of
bonds expected to be issued
for the Appropriations is not to exceed
$72,800,000.00. This constitutes
a declaration of official
intent under Treasury Regulation 1.150-2.
Section 7. That the Director
of Finance is hereby authorized to close project accounts, open encumbrances and retainage related to the accounts in Section 4 and return the unspent portion to the Fund
balance from which it came upon the earliest of: (i) Project’s completion; (ii) final maturity of financing or (iii) five years
after issuance.
Section 8. That this
ordinance shall become effective on May 1,
2020.
_____________________________________________
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.
___________________________________
Tammy
L. Queen
Director
of Finance
Approved
as to form and legality:
___________________________________
Nelson
Munoz
Senior
Associate City Attorney