ORDINANCE NO. 120631
Authorizing the Director of City Development to execute a
Development Agreement with Country Club Bank that authorizes the issuance of
Chapter 100 bonds in connection with an economic development effort.
WHEREAS, Country
Club Bank has proposed an industrial development project that would include the
purchase, construction, extension and improvement of an office industry, the
development of its headquarters, and the purchase of new equipment, all to be
located in Kansas City, Missouri; and
WHEREAS, the
project proposed by Country Club Bank would establish its economic presence in
the City and the creation of new jobs in the City; and
WHEREAS, Chapter
100 bonds are required, as part of an overall incentive package being developed
cooperatively with the State of Missouri, to make the project financially
viable; and
WHEREAS,
issuance of Chapter 100 bonds will be contingent on the City approving a
Chapter 100 Plan; NOW, THEREFORE,
BE IT ORDAINED
BY THE COUNCIL OF KANSAS CITY:
Section 1. That
the Director of City Development is hereby authorized to execute a Development
Agreement with Country Club Bank that authorizes the issuance of Chapter 100
bonds upon the City Council’s subsequent approval of a Chapter 100 Plan, with
said agreement approved in substantial form as that on file in the City
Development Department.
_____________________________________________
Approved
as to form and legality:
_______________________________
Brian
T. Rabineau
Assistant
City Attorney