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Last Published: 4/11/2017 2:00:20 PM
KANSAS CITY COMMITTEE RECORD
 
Upon Roll Call the following members were present:
Presided:1 - SCOTT WAGNER
Present:3 - JOLIE JUSTUS, LEE BARNES JR., KEVIN MCMANUS
 

170122
Approving and authorizing execution of a contract in the amount of $150,690.00 with the Kansas City Area Transportation Authority for the City to provide the Authority certain litigation services during the period from January 1, 2017 through December 31, 2017.


FINANCE AND GOVERNANCE COMMITTEE recommends "DO PASS"
Douglas McMillian, Law Department, testified that this ordinance would renew the agreement with KCATA, whereby the Law Department will handle tort litigation and claims and prosecute certain property damage claims during the 2017 calendar year. The City has entered into similar contracts with the ATA for a number of years. Kansas City will be paid $150,690.00 for the one year.
Ayes: 4 - Wagner, Justus, Barnes Jr., McManus
Nays: 0

170126
Estimating revenue and appropriating the sum of $222,817.00 in the Water Working Capital fund; authorizing expenditures of $969,620.00 to purchase five (5) CNG trucks; designating requisitioning authority; and recognizing this ordinance as having an accelerated effective date.


FINANCE AND GOVERNANCE COMMITTEE recommends "HOLD ON AGENDA (5/3/2017)"
This item was held on the agenda.

170132
Approving the issuance by the City of Kansas City Missouri of its special obligation bonds in four series (collectively, the “Series 2017 Bonds”), one to finance certain projects with an estimated cost of $23,250,000.00 on a taxable basis, one to finance and refinance certain projects with an estimated cost of $20,631,937.00 on a tax-exempt basis, one to refund a portion of the bonds issued by The Industrial Development Authority of the City of Kansas City, Missouri to finance the Kansas City Downtown Redevelopment District and one to refund bonds issued by The Industrial Development Authority of the City of Kansas City, Missouri to refinance the Midtown Redevelopment Project, such Series 2017 Bonds to be issued in an aggregate principal amount not to exceed $175,000,000.00; approving and authorizing certain documents and actions relating to the issuance of the Series 2017 Bonds; approving additional tax increment financing for the Linwood Tax Increment Financing Plan; renaming Fund No. 3436 the Special Obligation Series 2017 Taxable Bond Fund; renaming Fund No. 3437 the Special Obligation Series 2017 Tax-Exempt Bond Fund; estimating revenues and appropriating $6,000,000.00 in the Special Obligation Series 2017 Tax-Exempt Bond Fund (Fund 3437); designating requisitioning authority and authorizing the Director of Finance to close project accounts; declaring the City’s intent to reimburse itself from bond proceeds; and recognizing an accelerated effective date.


FINANCE AND GOVERNANCE COMMITTEE recommends "ADVANCE AND DO PASS, DEBATE"
Doug Buehler, Finance, testified that this ordinance would authorize the issuance of the Series 2017 Bonds. The Series 2017 Bonds are being issued in the aggregate principal amount not to exceed $175,000,000, for the purpose of providing funds for the Projects as shown on the attached project listing. Also to finance the refunding of the Industrial Development Authority (IDA) Series 2005A and 2007A bonds and a portion of the Special Obligation Series 2014D ("Series 2014D") bonds. The taxable Series 2017A bonds will finance certain projects with an estimated cost of S23,250,000 (see attached Schedule I), as well as finance a $7.342 million reserve fund for the Kansas City Municipal Assistance Corporation (KCMAC) Series 20048-1 bonds and fund capitalized interest. The Series 2017B bonds will finance certain projects with an estimated cost of $20,793,790 (see attached Schedule II) on a federally tax-exempt basis. The Series 2017C and 2017D bonds will refund the IDA Series 2005A (KC Live!) and IDA Series 2007A (Midtown), respectively. A portion of the Series 20178 bonds will refinance approximately $1.5 million in principal on the Series 2014D bonds. A copy of the presentation is on file with the City Clerk's Office.
Ayes: 4 - Wagner, Justus, Barnes Jr., McManus
Nays: 0

170133
Estimating revenues and appropriating $35,468,252.20 in Fund No. 8076, the 2017A Water Revenue Project; and recognizing this ordinance as having an accelerated effective date.


FINANCE AND GOVERNANCE COMMITTEE recommends "ADVANCE AND DO PASS, DEBATE"
Dan Grandcolas, Finance, testified that this ordinance would estimate and appropriate bond proceeds in the amount of $35,468,252.20 not previously estimated and appropriated under Ordinance No. 160968. $85,306,327.20 of bond proceeds were raised from the sale including $84,861,700.00 in project funds and $444,627.20 in cost of issuance and underwriter fees. The Master Bond Ordinance prescribes the terms, provisions, covenants and conditions for the issuance of Water Revenue Bonds. The Series 2017A Bonds are being issued under the Master Bond Ordinance as the sixth series of Senior Bonds.
Ayes: 4 - Wagner, Justus, Barnes Jr., McManus
Nays: 0
 
 1. There may be a general discussion regarding current Finance and Governance Committee issues.
 
 2. Pursuant to the following subsections of Section 610.021 of the Revised Statutes of Missouri, there may be a closed session to discuss: (1) legal matters, litigation, or privileged communications with attorneys, pursuant to subsection 1; (2) real estate, pursuant to subsection 2; (3) personnel, pursuant to subsection 3 and 13; and/or (4) sealed bids or proposals, pursuant to subsection 12. (5) confidential or privileged communications with auditors, pursuant to subsection 17. (6) preparation, including discussions, for negotiations with employee groups, pursuant to subsection 9.
 
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