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Legislation #: 110377 Introduction Date: 5/12/2011
Type: Ordinance Effective Date: 6/6/2011
Sponsor: None
Title: Establishing the 2011B GO Bond Fund; estimating and appropriating $500,000.00 in the 2011B GO Bond Fund from the anticipated sale of general obligation bonds; authorizing the Director of Public Works to expend $500,000.00 for traffic signal upgrades to meet ADA requirements; designating requisitioning authority; and declaring the City’s intention to reimburse itself from bond proceeds for bond related expenditures.

Legislation History
DateMinutesDescription
5/12/2011 Filed by the Clerk's office
5/12/2011 Referred to Transportation & Infrastructure Committee
5/19/2011 Do Pass as a Committee Substitute
5/19/2011 Assigned Third Read Calendar as Substituted
5/26/2011 Passed as Substituted

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110377 with Compared Version.pdf Authenticated 3278K Authenticated
http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=110377 Video Link 0K http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=110377
fiscal note traffic signal upgrades 2-2011.xls Fiscal Note 59K fiscal note
fact sheet traffic signals 89004678.xls Fact Sheet 67K fact sheet
approp_admin traffic signal 2-2011.xls Other 46K approp admin

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COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 110377

 

Establishing the 2011B GO Bond Fund; estimating and appropriating $500,000.00 in the 2011B GO Bond Fund from the anticipated sale of general obligation bonds; authorizing the Director of Public Works to expend $500,000.00 for traffic signal upgrades to meet ADA requirements; designating requisitioning authority; and declaring the City’s intention to reimburse itself from bond proceeds for bond related expenditures.

 

WHEREAS, Resolution No. 100446 was adopted by the City Council on June 3, 2010, which authorized the sale of General Obligation Bonds in the amount of $67.3 million, and which identified ADA signal upgrades as a project to be funded in the amount of $1,000,000.00; and

 

WHEREAS, Ordinance No. 110258 was passed by the City Council on April 14, 2011, and appropriated $500,000.00 of the $1,000,000.00 identified for ADA signal upgrades in Resolution No. 100446; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That Fund No. 3398, the 2011B GO Bond Fund, is hereby established in the books and records of the City of Kansas City, Missouri.

 

Section 2. That revenue in the following account of the 2011B GO Bond Fund is estimated in the following amount:

 

AL-3398-120000-590000 Proceeds from Sale of Bonds $500,000.00

 

Section 3. That $500,000.00 is appropriated from the Unappropriated Fund Balance of the 2011B GO Bond Fund to the following account in the 2011B GO Bond Fund:

 

AL-3398-897731-B-89004678 Accessible Pedestrian Signal $500,000.00

 

Section 4. That the Director of Public Works is authorized to expend the sum of $500,000.00 from funds appropriated to Account Number AL-3398-897731-B-89004678.

 

Section 5. That the Director of Public Works is designated requisitioning authority for Account Number AL-3398-897731.

 

Section 6. That the City expects to make capital expenditures in connection with the projects to be financed and hereby declares its official intent to reimburse itself for certain expenditures made within 60 days prior to or on and after the date of this ordinance with the proceeds of the bonds. The maximum principal amount of obligations expected to be financed for the projects is $500,000.00. This constitutes a declaration of official intent under Treasury Regulation 1.150-2.

____________________________________________________

 

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.

 

___________________________________

Randall J. Landes

Director of Finance

 

Approved as to form and legality:

 

___________________________________

Brian T. Rabineau

Assistant City Attorney