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Legislation #: 110260 Introduction Date: 4/7/2011
Type: Ordinance Effective Date: 5/8/2011
Sponsor: None
Title: Reducing an appropriation in the amount of $527,520.00 in the Public Safety Sales Tax Fund; appropriating $290,192.00 in the Public Safety Sales Tax Fund; reducing revenue and appropriations in the General Debt and Interest Fund by $527,520.00; estimating revenue in the amount of $527,520.00 in the G.O. Recovery Zone Bond Fund and appropriating same.

Legislation History
DateMinutesDescription
4/7/2011 Filed by the Clerk's office
4/7/2011 Referred to Finance and Audit Committee
4/20/2011 Do Pass
4/21/2011 Assigned to Third Read Calendar
4/28/2011 Passed

View Attachments
FileTypeSizeDescription
110260.pdf Authenticated 42K AUTHENTICATED
http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=110260 Video Link 0K http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=110260
Approp_and_Admin_Form-FY 12 ordinance v032911.xlsx Other 78K Appropriation and Admin Form
fiscal notes-debt service '12 ordinance.xlsx Fiscal Note 32K Fiscal Note
debt_service_adjustment_factsheet 3-21-11- ver4).xlsx Fact Sheet 25K Fact Sheet

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ORDINANCE NO. 110260

 

Reducing an appropriation in the amount of $527,520.00 in the Public Safety Sales Tax Fund; appropriating $290,192.00 in the Public Safety Sales Tax Fund; reducing revenue and appropriations in the General Debt and Interest Fund by $527,520.00; estimating revenue in the amount of $527,520.00 in the G.O. Recovery Zone Bond Fund and appropriating same.

WHEREAS, a separate fund is required for the purpose of accounting for the debt service on the Taxable General Obligation Improvement Bonds (Recovery Zone Economic Development Bonds – Public Safety Radio Project), Series 2010B (“Series 2010B Bonds”); and

WHEREAS, Fiscal Year 2011-12 debt service for the Series 2010B Bonds was appropriated in the General Debt and Interest Fund; NOW THEREFORE, 

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the appropriation in the following account of the Public Safety Sales Tax Fund is reduced by the following amount:

12-2320-129998-905010 Transfer to General Debt & Interest Fund $527,520.00

Section 2. That the sum of $290,192.00 is appropriated from the Unappropriated Fund Balance of the Public Safety Sales Tax Fund to the following account:

 

12-2320-129998-905020 Transfer to G.O. Recovery Zone Bond

Fund $290,192.00

 

Section 3. That the revenue in the following account of the General Debt and Interest Fund is reduced by the following amount:

12-5010-120000-502320 Transfer from Public Safety Sales Tax $527,520.00

Section 4. That the appropriation in the following account of the General Debt and Interest Fund is reduced by the following amount:

12-5010-129600-G Debt Service $527,520.00

Section 5. That the revenue in the following accounts of the G.O. Recovery Zone Bond Fund is increased by the following amounts:

12-5020-120000-502320 Transfer from Public Safety Sales Tax $290,192.00

12-5020-120000-460020 IRS interest subsidy 237,328.00

TOTAL $527,520.00

Section 6. That $527,520.00 is appropriated from the Unappropriated Fund Balance of the G.O. Recovery Zone Bond Fund to the following account in the G.O. Recovery Zone Bond Fund:

 12-5020-129600-G Debt Service $527,520.00

____________________________________________________

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.

 

 

______________________________

Randall J. Landes

Director of Finance

 

Approved as to form and legality:

 

 

______________________________

Cecilia Abbott

Assistant City Attorney