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Legislation #: 060136 Introduction Date: 2/2/2006
Type: Ordinance Effective Date: none
Sponsor: None
Title: Establishing the Series 2005 300 Wyandotte Parking Garage (“HOK Parking Garage”) Project Bond Fund and Series 2005 HOK Parking Garage Debt Fund; estimating bond proceeds and transfer from Capital Improvement Fund in the amount of $8,255,000.00 in the 2005 HOK Parking Garage Project Bond Fund and appropriating the same; estimating revenue in the Series 2005 HOK Parking Garage Debt Fund in the amount of $18,723.00 representing accrued interest; estimating bond proceeds and appropriating $142,904,500 and $295,500 in the Kansas City Downtown Arena Project, Series C and Series D Funds, respectively, designating requisitioning authorities; and authorizing the Director of Finance to close project accounts upon completion.

Legislation History
DateMinutesDescription
2/1/2006 Filed by the Clerk's office
2/2/2006 Referred to Finance and Audit Committee
2/8/2006 Advance and Do Pass as a Committee Substitute, Debate
2/9/2006 Passed

View Attachments
FileTypeSizeDescription
060136.pdf Authenticated 154K Authenticated
HOK Approp 2.xls Other 490K appropriation admin
HOK fiscal note.xls Fiscal Note 42K fiscal note
factsheet v2 Series 2005.xls Fact Sheet 44K Fact Sheet

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ORDINANCE NO. 060136

 

Establishing the Series 2005 300 Wyandotte Parking Garage (HOK Parking Garage) Project Bond Fund and Series 2005 HOK Parking Garage Debt Fund; estimating bond proceeds and transfer from Capital Improvement Fund in the amount of $8,255,000.00 in the 2005 HOK Parking Garage Project Bond Fund and appropriating the same; estimating revenue in the Series 2005 HOK Parking Garage Debt Fund in the amount of $18,723.00 representing accrued interest; estimating bond proceeds and appropriating $142,904,500 and $295,500 in the Kansas City Downtown Arena Project, Series C and Series D Funds, respectively, designating requisitioning authorities; and authorizing the Director of Finance to close project accounts upon completion.

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Fund No. 3450, Series 2005 HOK Parking Garage Project Bond Fund is hereby established in the records of the City of Kansas City, Missouri.

 

Section 2. That the Fund No. 5330, Series 2005 HOK Parking Garage Debt Fund is hereby established in the records of the City of Kansas City, Missouri.

 

Section 3. That the revenue in the following accounts of Fund 3450, the Series 2005 HOK Parking Garage Project Bond Fund is hereby estimated in the following amounts:

 

AL-3450-120000-590000 Proceeds from Sale of Bonds $7,755,000.00

AL-3450-120000-503090 Transfer from Capital Imp Fund 500,000.00

TOTAL $8,255,000.00

 

Section 4. That the sum of $8,255,000.00 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 3450 2005 HOK Parking Garage Project Bond Fund to the following accounts:

 

AL-3450-129620-B Bond Issue Expense $ 179,333.00

AL-3450-129631-B Underwriter Discount of Sale of Bonds 36,449.00

AL-3450-129632-B Original Issue Discount 57,352.00

AL-3450-129998-X Transfer to HOK Debt Fund 1,866.00

AL-3450-897600-B Contribution HOK/PIEA Garage 7,980,000.00

TOTAL $8,255,000.00

 

Section 5. That the revenue in the following account of Fund 5330, 2005 HOK Parking Garage Debt Fund is hereby estimated in the following amount:

 

06-5330-120000-460710 Accrued Interest-Sale of Bonds $ 16,407.00

06-5330-120000-503450 Transfer from HOK Project Fund 1,866.00

TOTAL $ 18,723.00

 

Section 6. That the Director of Finance is hereby authorized to transfer the expenditure in an amount not to exceed $ 500,000.00 in Account No. 06-3090-897228-611060-B to Account No. AL-3450-897600-B, HOK Parking Garage.

 

Section 7. That the appropriation in the following account of Fund No. 3090, the Capital Improvement Funds is hereby reduced by the following amount:

 

06-3090-897228-B Downtown Signal Coordination $ 500,000.00

 

Section 8. That the sum of $ 500,000.00 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 3090, the Capital Improvement Fund to the following account:

 

06-3090-129998-X Trsfer to 2005 HOK Project Fund $ 500,000.00

 

Section 9. That the appropriation in the following account of the General Fund is hereby reduced by the following amount:

 

06-1000-129064-B TIF Reserve $238,000.00

 

Section 10. That the sum of $238,000.00 is hereby appropriated from the Unappropriated Fund Balance of Fund 1000, General Fund, to the following account:

 

06-1000-129998-X Tsfr to 2005 HOK Debt Fund $238,000.00

 

Section 11. That the revenue in the following account of Fund 5330, 2005 HOK Parking Garage Debt Fund, is hereby estimated in the following amount:

 

06-5330-120000-501000 Tsfr from General Fund $238,000.00

 

Section 12. That the revenue in the following accounts of the Kansas City Downtown Arena Project, Series C Fund is hereby estimated in the following amounts:

 

AL -3410-120000-590000 Proceeds from the Sale of Bonds $142,904,500.00

 

Section 13. That the sum of $142,904,500.00 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 3410, the Kansas City Downtown Arena Project, Series C Fund to the following account:

 

AL-3410-897770-B Arena Improvement $140,000,000.00

AL-3410-129631-B Underwriter Discount 922,175.00

AL-3410-129620-B Cost of Issuance 1,982,325.00

TOTAL $142,904,500.00

 


Section 14. That the revenue in the following account of the Kansas City Downtown Arena Project, Series D Fund is hereby estimated in the following amounts:

 

AL -3411-120000-590000 Proceeds from the Sale of Bonds $ 295,500.00

 

Section 15. That the sum of $295,500.00 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 3411, the Kansas City Downtown Arena Project, Series D Fund to the following account:

 

AL-3411-129631-B Underwriter Discount $ 93,825.00

AL-3411-129620-B Cost of Issuance 201,675.00

TOTAL $ 295,500.00

 

Section 16. That the Director of Finance is hereby designated as the requisitioning authority for Account Nos. AL-3450-129620, AL-3450-129631, AL-3450-129632, AL-3450-129998, 06-3090-129998, 06-1000-129998, AL-3410-129631, AL-3410-129620, AL-3411-129631 and AL-3411-129620, that the Director of Public Works is hereby designated as the requisitioning authority for account number AL-3410-897770 and AL-3450-897600.

 

Section 17. 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.

 

_____________________________________________

 

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.

 

 

___________________________________

Debra R. Hinsvark

Director of Finance

 

Approved as to form and legality:

 

 

___________________________________

Heather A. Brown

Assistant City Attorney