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Legislation #: 060792 Introduction Date: 7/20/2006
Type: Resolution Effective Date: none
Sponsor: COUNCILMEMBER XBARNES
Title: Designating the projects to be funded by the second series of general obligation bond proceeds authorized by the April 6, 2004, vote of the people of Kansas City for deferred capital maintenance and basic capital infrastructure; stating the Council’s intention regarding funding of certain partially funded projects.

Legislation History
DateMinutesDescription
7/20/2006 Filed by the Clerk's office
7/20/2006 Referred to Finance and Audit Committee
7/26/2006 Immediate Adoption as a Committee Substitute
7/27/2006 Adopted as Substituted

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COMMITTEE SUBSTITUTE FOR RESOLUTION NO. 060792

 

Designating the projects to be funded by the second series of general obligation bond proceeds authorized by the April 6, 2004, vote of the people of Kansas City for deferred capital maintenance and basic capital infrastructure; stating the Councils intention regarding funding of certain partially funded projects.

 

WHEREAS, an ordinance was duly passed by the Council of the City of Kansas City, Missouri (the City), authorizing a special election which was duly held on April 6, 2004, at which the voters authorized the issuance of the Citys general obligation bonds in the aggregate principal amount not to exceed $250,000,000.00 for the purpose of paying for deferred maintenance and basic capital infrastructure such as streets, bridges, catch basins and other projects (including construction, acquisition, renovation, equipping and furnishing costs) and as authorized under Article VI, Sections 26(b) and (c) of the Missouri Constitution (the Infrastructure Bonds); and

 

WHEREAS, an ordinance was duly passed by the Council of the City of Kansas City, Missouri (the City), authorizing a special election which was duly held on April 6, 2004, at which the voters authorized the issuance of the Citys general obligation bonds in the aggregate principal amount not to exceed $30,000,000.00 for the purpose of paying for deferred maintenance and capital infrastructure and improvements for the Kansas City Zoological Garden (including construction, acquisition, renovation, equipping, furnishing and other costs) as recommended by the Board of Parks and Recreation Commissioners and approved by the City Council and as authorized under Article VI, Sections 26(b) and (c) of the Missouri Constitution; and

 

WHEREAS, an ordinance was duly passed by the Council of the City of Kansas City, Missouri (the City), authorizing a special election which was duly held on April 6, 2004, at which the voters authorized the issuance of the Citys general obligation bonds in the aggregate principal amount not to exceed $20,000,000.00 for the purpose of paying for capital improvements for the World War I Museum Project at Liberty Memorial Museum Project (including construction, acquisition, renovation, equipping and furnishing and other costs for the museum, exhibits, library and educational facilities) as recommended by the Board of Parks and Recreation Commissioners and approved by the City Council and as authorized under Article VI, Sections 26(b) and (c) of the Missouri Constitution; and

 

WHEREAS, the Council desires to issue the Citys general obligation bonds in an amount not to exceed $80,000,000.00 as the second series of bonds to be issued under the three authorizations approved by the voters on April 6, 2004, collectively, the 2006 General Obligation Bonds; and

 

WHEREAS, pursuant to Second Committee Substitute for Resolution No. 040143, the five-member Bond Financial Advisory Committee (the Committee), was appointed by the Mayor to advise the Mayor and Council on matters relating to the Infrastructure Bonds, and specifically to the following: timing of bond issuance, debt capacity, prevailing interest rates, municipal budget considerations and compliance with bond authorization ballot language approved by the voters on April 6, 2004; and

 

WHEREAS, the Bond Financial Advisory Committee recommended that the second series of bonds under the April 2004 authorization be issued in an par amount not to exceed $80,000,000.00, including any bonds for the Liberty Memorial and Zoological Garden Projects, but was not charged with specifying the allocation of those amounts among the Infrastructure, Liberty Memorial and Zoological Garden Projects; and

 

WHEREAS, the Public Improvement Advisory Committee has met and recommended a list of projects for funding for consideration by the Council; and

 

WHEREAS, the Council desires to designate the projects to be funded with the proceeds of the second series of Infrastructure Bonds; NOW, THEREFORE,

 

BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Council hereby designates the following projects to be funded with the proceeds of the second series of Infrastructure Bonds in the following approximate amounts:

 

Street Preservation and Reconstruction Category - $29,400,000.00

 

$9,700,000.00 Street Preservation

8,300,000.00 87th Street Acceleration

6,400,000.00 Barry Road Acceleration

3,000,000.00 Briarcliff Parkway-Briarcliff Road to North Oak

1,000,000.00 Street Reconstruction - SW Trafficway - I-35 to 31st

1,000,000.00 M-210 Roadway Improvements

 

Catch Basins and Drainage Category - $8,313,000.00

 

$6,613,000.00 Catch Basin Replacement

1,700,000.00 Chouteau and Gardner Drainage

 

Municipal Building Rehabilitation Category - $4,912,000.00

 

$1,700,000.00 Facility Improvements

1,500,000.00 Mohart Center Improvements

1,200,000.00 KC Museum Doors and Windows

250,000.00 City Market Doors

170,000.00 Animal Shelter Improvements

92,000.00 City Hall Exterior Study


Park Facilities and Deferred Maintenance Category - $29,375,000.00

 

$10,000,000.00 Liberty Memorial

8,000,000.00 SE Community Center

5,500,000.00 KC Zoo Maintenance

1,500.000.00 Fountains & Monument Maintenance

1,500,000.00 Starlight Theatre Seating

975,000.00 Lake Restoration Program

950,000.00 Community Center Maintenance 950,000.00 Boulevard Reconstruction

 

Bridge Rehabilitation Category - $8,000,000.00

 

$8,000,000.00 Bridge Rehabilitation

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