KC Skyline

City Clerk Web Search

Search the Ordinances:

Legislation #: 031120 Introduction Date: 10/2/2003
Type: Ordinance Effective Date: 10/26/2003
Sponsor: None
Title: Authorizing the Director of Finance to accept the proposal of Banc of America Leasing _ Capital, LLC for financing the City-wide PC Lifecycle Program ("Project") under a Master Lease Purchase Agreement and to execute any and all documents and agreements necessary to finance the Project in the sum of approximately $1,200,000.00, estimating revenue in the amount of $1,200,000.00 and appropriating it to the Equipment Lease Capital Acquisition Fund and account; authorizing the Director of Finance to close project accounts upon project completion; designating requisitioning authority; declaring the intent of the City to reimburse itself from the lease purchase proceeds for certain expenditures.

Legislation History
DateMinutesDescription
10/16/2003

Waive Charter Requirements City Council

10/9/2003

Waive Charter Requirements City Council

10/1/2003

Prepare to Introduce

10/2/2003

Referred Finance Committee

10/8/2003

Do Pass

10/9/2003

Assigned to Third Read Calendar

10/16/2003

Passed


View Attachments
FileTypeSizeDescription
No attachment(s) found

Printer Friendly Version

ORDINANCE NO. 031120

 

Authorizing the Director of Finance to accept the proposal of Banc of America Leasing & Capital, LLC for financing the City-wide PC Lifecycle Program (Project) under a Master Lease Purchase Agreement and to execute any and all documents and agreements necessary to finance the Project in the sum of approximately $1,200,000.00, estimating revenue in the amount of $1,200,000.00 and appropriating it to the Equipment Lease Capital Acquisition Fund and account; authorizing the Director of Finance to close project accounts upon project completion; designating requisitioning authority; declaring the intent of the City to reimburse itself from the lease purchase proceeds for certain expenditures.

 

WHEREAS, the first three-year cycle has been implemented resulting in computer upgrades to standard specifications throughout the City, making technology dependant projects possible, including such projects as CAD/RMS, PKS and KC CREW; and

 

WHEREAS, the first replacement cycle of this program is currently underway; and

 

WHEREAS this ordinance will allow continued implementation of the PC Lifecyle Program to a limit of $1,500,000.00 in annual payments, insofar as funds are appropriated for this purpose; and

 

WHEREAS, Committee Substitute for Ordinance No. 990329 authorized the City to enter into a Master Lease Agreement with Inacom Financial Services to finance a City-wide PC Lifecycle Program in order to implement an on-going replacement of personal computers and associated equipment; and

 

WHEREAS, Ordinance No. 000303 approved an assignment of the City-wide PC Lifecycle Program Master Lease Agreement from Inacom Technology Financial Services to Key Municipal Finance; and

 

WHEREAS, Committee Substitute for Ordinance No. 020845 authorized the Director of Information Technology to participate in the State of Missouri Microcomputer HW/SFW/SVCS Prime Vendor Statewide Contract (Statewide Contract), which was awarded to World Wide Technology and IBM for leasing; and

 

WHEREAS, the current Statewide Contract allows the City to use an alternative financing company to finance its personal computers; and

 

WHEREAS, the Departments of Finance and Information Technology have jointly determined that it is in the best interest of the City to reassign the Master Lease Purchase Agreement to Banc of America Leasing & Capital, LLC (BALCAP) for financing the Citys PC Lifecycle Program; and

 


WHEREAS, the monthly purchase of personal computers and associated equipment from World Wide Technology will be financed by a draw upon the Citys Master Lease Purchase+ Agreement with BALCAP through the end of Fiscal Year 2004, the payment of which will be made by annual appropriations in the Information Technology Departments budget over a four-year period; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Director of Finance is authorized to accept the proposal of Banc of America Leasing & Capital, LLC for financing the City-wide PC Lifecycle Program through a Lease Purchase Agreement and the Director of Finance is authorized to execute, deliver and file 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:

 

04-323-012-8300 Reimbursement from Bank of Lease Co. $1,200,000.00

 

Section 3. That the sum of $1,200,000.00 is hereby appropriated form the Unappropriated Fund Balance of the Equipment Lease Capital Acquisition Fund to the following account in the Equipment Lease Capital Acquisition Fund:

 

04-323-018-3000-E PC LifeCycle Program $1,200,000.00

 

Section 4. That the Department of Information Technology will continue implementing the PC Lifecyle Program to a limit of $1,500,000.00 in annual payments, insofar as funds are appropriated for this purpose.

 

Section 5. That the Director of Information Technology is hereby designated as requisitioning authority for Account No. 04-323-018-3000.

 

Section 6. 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 7. That the City declares its intent to reimburse itself for certain expenditures made within 60 days prior to or on and after the date of this ordinance with respect to the PC LifeCycle Program with the proceeds of the lease purchase expected to be drawn upon the Master Lease Purchase Agreement with Banc of America Leasing & Capital, LLC. The maximum principal amount expected to be financed under the lease purchase is $1,200,000.00.

 

_____________________________________________

 

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.

 

 

___________________________________

Kevin Riper

Director of Finance

 

Approved as to form and legality:

 

 

___________________________________

Heather A. Brown

Assistant City Attorney