ORDINANCE NO. 001492
Fixing
certain terms of $11,750,000.00 principal amount of Sanitary Sewer System
Revenue Bonds (State Revolving Fund Program) Series 2000B of the City of Kansas
City, Missouri, authorized by Ordinance No. 001386, passed on October 24, 2000;
authorizing the sale and delivery of the bonds to the purchaser; and declaring
an emergency.
WHEREAS,
the Director of Finance of the City of Kansas City, Missouri (the City)
advertised for bids for the purchase of not to exceed $11,900,000.00 principal
amount of Sanitary Sewer System Revenue Bonds, Series 2000B of the City to be
dated November 1, 2000, said bids received at 11:00 a.m., Central Time, on
November 2, 2000, pursuant to the terms of the Notice of Bond Sale dated
October 20, 2000; and
WHEREAS,
the sale was held at the specified time in the Office of the City Treasurer,
and one bid was received pursuant to the Ordinance. The sole and best bid
received for the bonds was that of the State Environmental Improvement and
Energy Resources Authority. The Council, pursuant to the recommendations of
its Director of Finance, the City Manager and an Assistant City Attorney, has
determined that the bid of the State Environmental Improvement and Energy
Resources Authority should be accepted and has authorized the Director of
Finance to accept the bid; and
WHEREAS,
it is necessary that the Council, by ordinance, immediately fix the principal
maturities and optional redemption provisions with respect to the bonds and the
interest rates to be borne by the bonds in order that the Bonds may be
prepared, executed and delivered to the purchaser thereof in accordance with
the notice of bond sale and the bid of said purchaser, and by reason of such
conditions, it is for the immediate preservation of the public property that
this ordinance take effect as an emergency measure; NOW, THEREFORE,
BE
IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section
1. The bonds are designated Sanitary Sewer System Revenue Bonds (State
Revolving Fund Program) Series 2000B (the Bonds), will be in the aggregate
principal amount of $11,750,000.00 (the Original Principal Amount) and will
mature on July 1 in the years and in the principal amounts and will bear
interest at the annual interest rates as follows:
Maturity
Date Principal Interest Maturity Date Principal Interest
July
1 Amount Rate July
1 Amount Rate
2001 $500,000.00 4.250% 2011 $
580,000.00 5.500%
2002 505,000.00 4.350 2012
590,000.00 5.500
2003 515,000.00 4.400 2013
605,000.00 5.000
2004 520,000.00 4.400 2015
1,255,000.00 5.625
2005 525,000.00 4.500 2016
650,000.00 5.625
2006 535,000.00 4.500 2017
665,000.00 5.300
2007 540,000.00 4.500 2018
680,000.00 5.400
2008 550,000.00 4.600 2019
695,000.00 5.450
2009 560,000.00 4.625 2020
715,000.00 5.500
2010 565,000.00 4.700
Section 2. The Bond maturing on July 1, 2015
will be redeemed in part on the dates and in the principal amounts set forth
below at a redemption price equal to 100% of the principal amount redeemed plus
accrued interest to the redemption date:
July 1, 2015 Term Bonds
Principal
January
1 Amount
2014 $620,000.00
2015
635,000.00
__________
Maturity
Section
3. At the option of the City, Bonds maturing on and after July 1, 2013 may be
called for redemption and payment prior to maturity in whole or in part on any
date on and after September 1, 2010, with the consent of the Bondowner, or on
each June 1 and December 1, commencing December 1, 2010, at the principal
amount, without premium, plus accrued interest to the redemption date.
Section
4. The Bonds will be duly prepared and executed in accordance with the
provisions of Ordinance No. 001386 and this Ordinance, and the Bonds, when duly
prepared and executed, will be sold and delivered by the Director of Finance to
the State Environmental Improvement and Energy Resources Authority, the
purchaser, upon payment of the purchase price set forth in the bid.
Section
5. This ordinance is declared to be an emergency measure within the provisions
of Section 15, Article II of the Charter and shall take effect in accordance
with that section.
_____________________________________________________________________
Approved
as to form and legality:
______________________________________
Assistant
City Attorney