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Legislation #: 031173 Introduction Date: 10/16/2003
Type: Ordinance Effective Date: none
Sponsor: None
Title: Authorizing the Director of Finance to accept the proposal of Banc of America Leasing _ Capital, LLC for financing equipment in an aggregate principal amount of $959,000.00 to acquire two flatbed tow vehicles, one fire apparatus and a cashiering system; estimating and appropriating lease proceeds in the amount of $959,000.00; appropriating debt service for fiscal year 2004 in the Equipment Lease Debt Service Fund; authorizing transfer of expenditures from the General Fund to the Equipment Lease Capital Acquisition Fund; authorizing the closing of project accounts upon project completion; designating requisitioning authorities; and recognizing an emergency.

Legislation History
DateMinutesDescription
10/16/2003

Prepare to Introduce

10/16/2003

Referred Finance Committee

10/22/2003

Advance and Do Pass

10/23/2003

Passed


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ORDINANCE NO. 031173

 

Authorizing the Director of Finance to accept the proposal of Banc of America Leasing & Capital, LLC for financing equipment in an aggregate principal amount of $959,000.00 to acquire two flatbed tow vehicles, one fire apparatus and a cashiering system; estimating and appropriating lease proceeds in the amount of $959,000.00; appropriating debt service for fiscal year 2004 in the Equipment Lease Debt Service Fund; authorizing transfer of expenditures from the General Fund to the Equipment Lease Capital Acquisition Fund; authorizing the closing of project accounts upon project completion; designating requisitioning authorities; 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 Banc of America Leasing & Capital, LLC for financing the acquisition of two (2) flat-bed tow vehicles, one (1) fire apparatus and a cashiering system through a draw upon the Master Lease Purchase Agreement in the aggregate principal amount of $959,000.00.

 

Section 2. That the Director of Finance is authorized to execute, deliver and file in the name of the City, the Master Lease Purchase Agreement and any and all documents and agreements necessary to complete such financing.

 

Section 3. 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 or Lease Co. $959,000.00

 

Section 4. That the sum of $959,000.00 is hereby appropriated from the Unappropriated Fund Balance of the Equipment Lease Capital Acquisition Fund to the following accounts in the Equipment Lease Capital Acquisition Fund:

 

04-323-057-1901-E Equip Ls-Vehicles $115,000.00

04-323-023-1901-E Ls. Prch Fire Apparatus 695,000.00

04-323-027-2021-E Cashiering System Upgrade 149,000.00

TOTAL $959,000.00

 

Section 5. That the Director of Finance is hereby authorized to transfer the existing expenditures spent for the new tow trucks in an amount not to exceed $115,000.00 in Account No. 04-100-057-2325-E to Account No. 04-323-057-1901-E.

 

Section 6. That the appropriation in the following account of the General Fund is hereby reduced by the following amount:

 

04-100-057-2325-E Tow Service $ 19,975.00


Section 7. That the sum of $19,975.00 is hereby appropriated from the Unappropriated Fund Balance of the General Fund to the following account in the General Fund:

 

04-100-012-9023-B Transfer to Lease Debt Service $ 19,975.00

 

Section 8. That the revenue in the following account of the Equipment Lease Debt Service Fund is hereby estimated in the following amount:

 

04-523-012-9200 Transfer from General Fund $ 19,975.00

 

Section 9. That the sum of $19,975.00 is hereby appropriated from the Unappropriated Fund Balance of the Equipment Lease Debt Service Fund to the following account in the Equipment Lease Debt Service Fund:

 

04-523-012-9752-G Eq-Ls. Neighborhood Tow Vehicles $ 19,975.00

 

Section 10. That the appropriation in the following account of the Fire Sales Tax Fund is hereby reduced by the following amount:

 

04-230-023-1901-E Fire Apparatus and Equipment $ 42,478.00

 

Section 11. That the sum of $42,478.00 is hereby appropriated from the Unappropriated Fund Balance of the Fire Sales Tax Fund to the following account in the Fire Sales Tax Fund:

 

04-230-012-9023-B Transfer to Lease Debt Service $ 42,478.00

 

Section 12. That the revenue in the following account of the Equipment Lease Debt Service Fund is hereby estimated in the following amount:

 

04-523-012-9283 Transfer from Fire Sales Tax Fund $ 42,478.00

 

Section 13. That the sum of $42,478.00 is hereby appropriated from the Unappropriated Fund Balance of the Equipment Lease Debt Service Fund to the following account in the Equipment Lease Debt Service Fund:

 

04-523-012-9753-G Eq-Ls. Fire Apparatus - 2003 $ 42,478.00

 

Section 14. That the revenue in the following account of the General Fund is hereby estimated in the following amount:

 

04-100-027-6202 Court Case Management Fees $ 16,576.00

 

Section 15. That the sum of $16,576.00 is hereby appropriated from the Unappropriated Fund Balance of the General Fund to the following account:

04-100-012-9023-B Transfer to Lease Debt Service $ 16,576.00

 

Section 16. That the revenue in the following account of the Equipment Lease Debt Service Fund is hereby estimated in the following amount:

 

04-523-012-9200 Transfer from General Fund $ 16,576.00

 

Section 17. That the sum of $16,576.00 is hereby appropriated from the Unappropriated Fund Balance of the Equipment Lease Debt Service Fund to the following account in the Equipment Lease Debt Service Fund:

 

04-523-012-9754-G Eq-Ls. Municipal Court Cashiering System $ 16,576.00

 

Section 18. That the Director of Neighborhood and Community Services is hereby designated as the requisitioning authority for Account Nos. 04-323-057-1901, that the Chief of the Fire Department is hereby designated as the requisitioning authority for Account No. 04-323-023-1901, that the Court Administrator of the Municipal Court is hereby designated as the requisitioning authority for Account No. 04-323-027-2021, and that the Director of Finance is hereby designated as requisitioning authority for Account Nos. 04-523-012-9752, 04-100-012-9023, 04-523-012-9753, 04-230-012-9023 and 04-523-012-9754.

 

Section 19. 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 20. That this ordinance is recognized as an emergency measure within the provisions of Section 15, Article II of the Charter of the City of Kansas City, and takes effect in accordance with that section.

 

_____________________________________________

 

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