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Legislation #: 980700 Introduction Date: 6/11/1998
Type: Resolution Effective Date: 6/18/1998
Sponsor: COUNCILMEMBERS SIMMONS, SWOPE AND STACKHAUS
Title: 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.

Legislation History
DateMinutesDescription
6/11/1998

Prepare to Introduce

6/11/1998

Referred Finance & Administration Committee

6/17/1998

Immediate Adoption

6/18/1998

Adopted


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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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