ORDINANCE NO. 041214

 

Establishing the Downtown Arena Project Fund; estimating revenues in the amount of $8,000,000.00 in the Downtown Arena Project Fund; reducing appropriations in the General Fund and the Local Use Tax Fund and appropriating $23,000,000.00 to the Downtown Arena Project Fund; designating requisitioning authority; reimbursing certain expenditures related to the Downtown Arena from bond proceeds; and recognizing an emergency.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the City hereby establishes in the financial records of the city, the following Fund, No.5050, Downtown Arena Project Fund.

 

Section 2. That the revenue in the following accounts of Fund No. 5050, Downtown Arena Project Fund, is hereby estimated in the following amounts

 

05-5050-120000-454100 Arena Vehicle License Fees $ 7,000,000.00

05-5050-120000-454110 Hotel/Motel License Fees 1,000,000.00

TOTAL $ 8,000,000.00

 

Section 3. That the appropriations in the following accounts of the Fund Number 2100, Local Use Tax are hereby reduced by the following amounts:

 

05-2100-897702-A Minor Bridge Repair $ 2,500,000.00

05-2100-897702-B Minor Bridge Repair 9,500,000.00

TOTAL $12,000,000.00

 

Section 4. That the sum of $12,000,000.00 is hereby appropriated from the Unappropriated Fund Balance of the Local Use Tax Fund to the following account of the Local Use Tax Fund:

 

05-2100-129998-X Transfer to Downtown Arena Project $12,000,000.00

Fund

 

Section 5. That the appropriation in the following account of the General Fund is hereby reduced by the following amount:

 

05-1000-897731-B Traffic Signal Safety Improvements $ 3,000,000.00

 

Section 6. That the sum of $3,000,000.00 is hereby appropriated from the Unappropriated Fund Balance of the General Fund to the following account of the General Fund:

 

05-1000-129998-X Transfer to Downtown Arena Project $ 3,000,000.00

Fund

 

Section 7. That the revenue in the following accounts of the Downtown Arena Project Fund is hereby estimated in the following amounts

 

05-5050-120000-502100 Transfer from Local Use Tax Fund $12,000,000.00

05-5050-120000-501000 Transfer from General Fund 3,000,000.00

TOTAL $15,000,000.00

 

Section 8. That the sum of $23,000,000.00 is hereby appropriated from the Unappropriated Fund Balance of the Downtown Arena Project Fund to the following account of the Downtown Arena Project Fund:

 

05-5050-897770-B Downtown Arena $23,000,000.00

 

Section 9. That the City Manager is hereby designated as requisitioning authority for account 05-5050-897770.

 

Section 10. That the City declares its intent to reimburse itself for certain expenditures made within sixty (60) days prior to or on and after the date of this
ordinance with the proceeds of bonds expected to be issued by the City for the Downtown Arena Project.

 

Section 11. That this ordinance is recognized as an emergency measure within the provisions of Section 15, Article II of the Charter of Kansas City, and shall take effect in accordance with Section 15

 

_____________________________________________

 

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.

 

 

___________________________________

Wanda Gunter

Acting Director of Finance

 

Approved as to form and legality:

 

 

___________________________________

Heather A. Brown

Assistant City Attorney