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Legislation #: 050975 Introduction Date: 8/11/2005
Type: Ordinance Effective Date: none
Sponsor: None
Title: Renaming Fund 8400 and establishing Fund 8400 as the General Improvement Airport Revenue Bond Fund; estimating $24,812.746.00 of revenue in the General Improvement Airport Revenue Bond Fund from the sale of Series 2005H General Improvement Airport Refunding Revenue Bonds and appropriating it; appropriating $4,400,000.00 from the Unappropriated Fund Balance of the Kansas City Airports Fund for the project; estimating revenue in the Kansas City Airports Fund in the amount of $1,984,737.00; designating requisitioning authority; authorizing the Director of Finance to close project accounts upon completion; and recognizing an emergency.

Legislation History
DateMinutesDescription
8/9/2005 Filed by the Clerk's office
8/11/2005 Referred to Finance Committee
8/17/2005 Advance and Do Pass as a Committee Substitute, Debate
8/18/2005 Passed as Substituted

View Attachments
FileTypeSizeDescription
050975.pdf Authenticated 100K Authenticated
fiscal note.xls Advertise Notice 41K fiscal note
approp _ admin.xls Advertise Notice 334K appropriation form
fact sheet.xls Advertise Notice 43K fact sheet
Approp _ Admin e_a 8-1-05 v1(2).xls Other 334K Approp & Admin
fiscal notes-2005H GARB e_a ordinance v1(2).xls Fiscal Note 41K Fiscal Note
2005H E_A Ordinance Airport Refunding Fact Sheet v2.xls Fact Sheet 42K Fact Sheet

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050975Renaming Fund 8400 and establishing Fund 8400 as the General Improvement Airport Revenue Bond Fund; estimating $24,995,000.00 of revenue in the General Improvement Airport Revenue Bond Fund from the sale of Series 2005H General Improvement Airport Refunding Revenue Bonds and appropriating it; appropriating $4,400,000.00 from the Unappropriated Fund Balance of the Kansas City Airports Fund for the project; estimating revenue in the Kansas City Airports Fund in the amount of $2,076,997.00; designating requisitioning authority; authorizing the Director of Finance to close project accounts upon completion; and recognizing an emergency.COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 050975

 

Renaming Fund 8400 and establishing Fund 8400 as the General Improvement Airport Revenue Bond Fund; estimating $24,812.746.00 of revenue in the General Improvement Airport Revenue Bond Fund from the sale of Series 2005H General Improvement Airport Refunding Revenue Bonds and appropriating it; appropriating $4,400,000.00 from the Unappropriated Fund Balance of the Kansas City Airports Fund for the project; estimating revenue in the Kansas City Airports Fund in the amount of $1,984,737.00; designating requisitioning authority; 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 the Fund Number 8400 is hereby renamed as the General Improvement Airport Revenue Bond Fund and established in the records of the City of Kansas City, Missouri.

 

Section 2. That the sum of $4,400,000.00 is hereby appropriated from the Unappropriated Fund Balance of the Kansas City Airports Fund to the following account:

 

06-8300-129998-908400 Transfer to Gen Imp Airport Rev Bond $4,400,000.00

Fund

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

 

AL-8400-620000-590000 Proceeds from Sale of Bonds $19,615,000.00

AL-8400-620000-485100 Premium on Bonds of Sale 797,746.00

AL-8400-120000-508300 Transfer from KCI Airport Fund 4,400,000.00

TOTAL $24,812,746.00

 

Section 4. That the sum of $24,812,746.00 is hereby appropriated from the Unappropriated Fund Balance of the General Improvement Airport Revenue Bond Fund to the following accounts:

 

AL-8400-129620-B Bond Issue Expense $ 117,272.00

AL-8400-129631-B Underwriter Discount 19,074.00

AL-8400-129671-B Defeasance of Series 1995 22,714,900.00

AL-8400-129998-908300 Transfer to Fund No. 8300 1,961,500.00

TOTAL $24,812,746.00


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

 

06-8300-620000-460710 Accrued Interest Sale of Bonds $ 23,237.00

06-8300-620000-508400 Transfer from Fund 8400 1,961,500.00

TOTAL $ 1,984,737.00

 

Section 6. That the appropriation in the Kansas City Airports Fund is hereby reduced as follows:

 

06-8300-629600-G Interest Expense $ 134,348.00

 

Section 7. That the Director of Finance is hereby designated as requisitioning authority for Account Nos. 06-8300-129998-908400, AL-8400-129620-B, AL-8400-129631-B, AL-8400-129671-B, and AL-8400-129998-908300.

 

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.

 

Section 9. That this ordinance is recognized as an emergency measure within the provisions of Section 15, Article II of the Charter of the City of Kansas City, and takes effect in accordance with that Section.

 

_______________________________________

 

I hereby certify that there is a balance, otherwise unencumbered, to the credit of the appropriation to which the foregoing expenditures are 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