RESOLUTION NO. 980700
Authorizing
the Director of Finance to accept proposals for the financing of capital
equipment for the Public Safety Radio Enhancements Project under a lease
purchase agreement in an amount not to exceed $7,200,000.00 and authorizing
certain other actions pursuant thereto.
WHEREAS,
it is necessary that the City proceed with the Public Safety Radio Enhancements
Project (the Project) to improve the effectiveness of its 800 mzh Public
Safety Radio Communication System (the System); and
WHEREAS,
the Radio System Oversight Committee has recommended a financing structure
which includes lease purchase as a financing mechanism for a portion of the
Project; and
WHEREAS,
it is essential that the City acquire the equipment in a timely manner in order
to improve the efficiency and effectiveness of the System; and
WHEREAS,
the total amount to be financed by a lease purchase agreement will not exceed
$7,200,000.00 and the annual lease payments will be made by appropriations from
the unappropriated local use tax fund balance over a five year period; and
WHEREAS,
the lease purchase agreement will allow the City to finance the capital
equipment needed; NOW, THEREFORE,
BE
IT RESOLVED BY THE COUNCIL OF KANSAS CITY:
Section
1. That the Director of Finance is hereby authorized to accept proposals for
the financing of the acquisition of capital equipment through a lease purchase
agreement in an amount not to exceed $7,200,000.00 for a period of five years
for the Public Safety Radio Enhancements Project.
Section
2. That the City declares its intent to reimburse itself for certain
expenditures made within 60 days prior to or on and after the date of this
resolution with respect to the Project with the proceeds of the lease purchase
agreement expected to be issued by the City. The maximum amount of the lease
purchase agreement expected to be issued for the Project is not to exceed
$7,200,000.00.
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