ORDINANCE NO. 941361

Approving the public sale of approximately $35,000,000.00 principal amount of Water Revenue Bonds, 7th Issue, Series D, of the City of Kansas City, Missouri, for the purpose of providing additional funds to pay the cost of extending and improving the waterworks system of the City; authorizing the preparation and execution of certain documents in connection with the sale and issuance of said bonds; and authorizing certain other actions in connection therewith.

WHEREAS, the City of Kansas City, Missouri (the "City"), is authorized pursuant to the Constitution and Statutes of the State of Missouri, including particularly Article VI, Section 27 of the Missouri Constitution, as amended, the Charter of the City, as amended, and an election duly held in the City on March 8, 1988, at which more than a majority of the qualified voters of the City approved the issuance of the City's water revenue bonds in the aggregate principal amount of $110,000,000.00 for the purpose of extending and improving the waterworks system of the City (the "Waterworks System"); and

WHEREAS, the City has heretofore issued its Water Revenue Bonds, 7th Issue, Series A, dated December 1, 1988, in the original principal amount of $25,000,000.00, its Water Revenue Bonds, 7th Issue, Series B, dated December 1, 1989, in the original principal amount of $30,000,000.00 and its Water Revenue Bonds, 7th Issue, Series C, dated March 1, 1992, in the original principal amount of $20,000,000.00 (collectively, the "Prior Bonds"); and

WHEREAS, the City hereby finds and determines that it is necessary and desirable that the City issue its Water Revenue Bonds, 7th Issue, Series D (the "Bonds"), in the approximate principal amount of $35,000,000.00 to provide additional funds to pay the cost of extending and improving the Waterworks System; and

WHEREAS, the aggregate principal amount of outstanding Prior Bonds and the Bonds does not exceed $110,000,000.00; and

WHEREAS, the City hereby further finds and determines that it is necessary and desirable to sell the Bonds by public sale and in connection with said sale and the issuance and delivery of the Bonds, it is necessary and desirable to authorize the preparation and execution of certain documents and the taking of certain other actions in connection therewith; and

WHEREAS, the City has selected the firms of George K. Baum & Company and LS Financial Group, Inc. to act as the Financial Advisor in connection with the sale and issuance of the Bonds; and

WHEREAS, the City has selected the firms of Lathrop & Norquist; Burke, Williams, Sorensen & Gaar; and Herbert E. Hardwick, P.C. to serve as Co-Bond Counsel in connection with the sale and issuance of the Bonds; NOW, THEREFORE

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. The City hereby authorizes and approves (i) the public sale of the Bonds, (ii) the preparation of a Notice of Bond Sale and Preliminary Official Statement (the "Preliminary Official Statement") in a form to be approved by the City, Financial Advisor and Co-Bond Counsel, and (iii) the preparation and execution of a final Official Statement (the "Official Statement"), supplementing the Preliminary Official Statement, in a form to be approved by the City, Financial Advisor and Co-Bond Counsel. The City hereby consents to the use and public distribution of the Preliminary Official Statement and the Official Statement in connection with the offering for sale of the Bonds.

Section 2. The Mayor, City Council, City Manager, City Clerk, City Attorney, Co-Bond Counsel, Financial Advisor and their respective officers, agents and employees are hereby directed and authorized to prepare and execute such documents, instruments and certificates and to take such other action on behalf of the City as shall be necessary or desirable in connection with the sale, issuance and delivery of the Bonds and to effect the terms and provisions of this Ordinance.

Section 3. This Ordinance shall take effect and be in full force and effect 10 days after the date of its passage.

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Approved as to form and legality:

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Assistant City Attorney