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Legislation #: 971209 Introduction Date: 8/21/1997
Type: Ordinance Effective Date: 8/28/1997
Sponsor: None
Title: Authorizing the Director of Finance to execute any and all documents and agreements necessary for the financing of the Burns and McDonnell building and various capital equipment under a Master Lease Purchase Agreement; estimating revenue in the sum of $11,445,348.00 and appropriating same in various funds and accounts as specifically set forth in the body of the ordinance; designating requisitioning authority as set forth in the body of the ordinance; and recognizing an emergency.

Legislation History
DateMinutesDescription
8/21/1997

Prepare to Introduce

8/21/1997

Referred Finance & Administration Committee

8/27/1997

Advance and Do Pass

8/28/1997

Passed as Substituted


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COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 971209

 

Authorizing the Director of Finance to execute any and all documents and agreements necessary for the financing of the Burns and McDonnell building and various capital equipment under a Master Lease Purchase Agreement; estimating revenue in the sum of $11,445,348.00 and appropriating same in various funds and accounts as specifically set forth in the body of the ordinance; designating requisitioning authority as set forth in the body of the ordinance; and recognizing an emergency.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Director of Finance is authorized to accept the proposal of G.E. Capital Public Finance Inc., for financing capital equipment and real property through a lease purchase agreement and the Director of Finance is authorized to execute, in the name of the City, any and all documents and agreements necessary to complete such financing.

 

Section 2. That the revenue in the following account of the Equipment Lease Capital Acquisition Fund is hereby estimated in the following amount:

 

98-323-012-8300 Reimbursement from Bank or Lease Co. $11,445,348.00

 

Section 3. That the sum of $11,445,348.00 is hereby appropriated from the Unappropriated Fund Balance of the Equipment Lease Capital Acquisition Fund:

 

98-323-023-9703-T Fire Apparatus Lease Purchase - 1997 $ 9,545,348.00 98-323-064-9793-T Equipment Lease Purchase 18th & Vine - 1997 100,000.00 98-323-070-9720-T Parks Building Lease Purchase - 1997 1,800,000.00 $11,445,348.00

 

Section 4. That the revenue in the following accounts of the Equipment Lease Debt Service Fund is hereby estimated in the following additional amounts:

 

98-523-012-9291 Transfer from Infrastructure and Maintenance $ 981,356.00 98-523-012-8112 18th and Vine Authority Contribution 24,017.00 98-523-012-9244 Transfer from P&R Work Cap Fd 93,000.00 98-523-012-9200 Transfer from General Fund 64,000.00 $ 1,162,393.00

 

Section 5. That the sum of $1,162,393.00 is hereby appropriated from the Unappropriated Fund Balance of the Equipment Lease Debt Service Fund:

 

98-523-012-9743-G Fire Lease Purchase - 1997 $ 981,356.00 98-523-012-9744-G 18th and Vine Lease Purchase - 1997 24,017.00 98-523-012-9745-G Park & Rec Lease Purchase - 1997 157,000.00 $ 1,162,373.00

 

Section 6. That the appropriation in the following account of the Infrastructure and Maintenance Fund is reduced by the following amount:

 

98-209-023-1901-E Fire Apparatus and Equipment $ 981,356.00

 

Section 7. That the sum of $981,356.00 is hereby appropriated from the Unappropriated Fund Balance of the Infrastructure and Maintenance Fund to the following account:

 

98-209-012-9023-B Transfer to Lease Debt Service $ 981,356.00

 

Section 8. That the appropriation in the following accounts of the Parks and Recreation Working Capital Fund are reduced by the following amounts:

 

98-713-070-1901-C Stores Purchases $ 63,000.00 98-713-070-1902-C Stores Purchases - Special Serv. 30,000.00 $ 106,000.00

 

Section 9. That the sum of $93,000.00 is hereby appropriated from the Unappropriated Fund Balance of the Parks and Recreation Working Capital Fund to the following account:

 

98-713-012-9023-B Transfer to Lease Debt Service $ 93,000.00

 

Section 10. That the appropriation in the following accounts of the General Fund is reduced by the following amount:

 

98-100-070-9792-B Eq Ls-Vehicles $ 64,000.00

 

Section 11. That the sum of $64,000.00 is hereby appropriated from the Unappropriated Fund Balance of the General Fund to the following account:

 

98-100-012-9023-B Transfer to Lease Debt Service $ 64,000.00

 

Section 12. That the Director of Fire is hereby designated as the requisitioning authority for Account No. 98-323-023-9703-T, the Director of City Development is hereby designated as the requisitioning authority for Account No. 98-323-064-9793-T, the Director of Parks and Recreation is hereby designated as the requisitioning authority for Account No. 98-323-070-9720-T and the Director of Finance is hereby designated as the requisitioning authority for Account Nos. 98-523-012-9743-G and 98-523-012-9744-G.

 

Section 13. That this ordinance making an appropriation for the current expense of the City is recognized as an emergency measure within the provisions of Section 15, Article II of the Charter of Kansas City, and shall take effect immediately upon passage.

 

_________________________________________________________________

 

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.

 

 

___________________________

Director of Finance

 

Approved as to form and legality:

 

 

 

_____________________________

Assistant City Attorney