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Legislation #: 980886 Introduction Date: 7/16/1998
Type: Ordinance Effective Date: 8/9/1998
Sponsor: None
Title: Establishing the General Obligation Refunding Bond Fund 1998A; estimating bond proceeds in the amount of $57,490,065.00 and appropriating it to the proper accounts; and designating requisitioning authority.

Legislation History
DateMinutesDescription
7/16/1998

Prepare to Introduce

7/16/1998

Referred Finance & Administration Committee

7/22/1998

Do Pass

7/23/1998

Assigned to Third Read Calendar

7/30/1998

Passed


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ORDINANCE NO. 980886

 

Establishing the General Obligation Refunding Bond Fund 1998A; estimating bond proceeds in the amount of $57,490,065.00 and appropriating it to the proper accounts; and designating requisitioning authority.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That Fund No. 377, General Obligation Refunding Bond Fund 1998A is hereby established in the records of the City of Kansas City, Missouri.

 

Section 2. That the revenue in the following accounts of the General Obligation Refunding Bond Fund 1998A is estimated in the following amounts:

 

99-377-012-9000 Proceeds from Sale of Bonds $48,515,000.00

99-377-012-8510 Premium on Bonds Sold 1,518,937.00

99-377-012-6071 Accrued Interest-Sale of Bonds 52,701.00

99-377-012-6011 Interest on Investment-Bank Escrow 7,403,427.00

$57,490,065.00

 

Section 3. That the sum of $57,490,065.00 is appropriated from the Unappropriated Fund Balance of the General Obligation Refunding Bond Fund 1998A to the following accounts:

 

99-377-012-9620B Bond Issue Expense $ 129,005.00

99-377-012-9631B Discount on Sale of Bonds 163,281.00

99-377-012-9662G Defeasance of Series 1991 28,950,000.00

99-377-012-9663G Defeasance of Series 1992 20,390,000.00

99-377-012-9664G Crossover Refunding Escrow 7,857,779.00

$57,490,065.00

 

Section 4. That the Director of Finance is hereby designated as the requisitioning authority for Account Nos. 99-377-012-9620B, 99-377-012-9631B, 99-377-012-9662G, 99-377-012-9663G and 99-377-012-9664G.

 

_________________________________________________________________

 

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.

 

____________________________________

Director of Finance

 

Approved as to form and legality:

 

___________________________________

Assistant City Attorney