COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 001065
Amending Ordinance No. 000269
by repealing Section 1 and enacting in its place a new Section 1, increasing
the tax levy for debt service.
BE IT ORDAINED BY
THE COUNCIL OF KANSAS CITY:
Section 1. That
Ordinance No. 000269 is hereby amended by repealing Section 1 and enacting in
its place a new Section 1, increasing the tax levy for debt service. The new
Section 1 reads as follows:
Section
1. That taxes for the Fiscal Year 2000-2001, commencing on the first day of
May, 2000, in the total amount of one dollar and thirty-five cents ($1.35) per
hundred dollars, be and the same are hereby levied on all property within the
jurisdiction of Kansas City, Missouri, subject to taxation on January 1, 2000,
under the Constitution and laws of the State of Missouri, both real and
tangible personal, subject to the provisions contained in Section 1 hereof, as
follows, to-wit:
FIRST:
A general tax of sixty-seven cents ($.67) on each hundred dollars of the
assessed valuation of all such taxable property is levied and imposed for
municipal operating purposes, to be credited to the General Fund.
SECOND:
A general tax of forty-nine cents ($.49) on each hundred dollars of assessed
valuation of all such taxable property is levied and imposed for municipal
operating expenses for hospitals and public health purposes, to be credited to
the Health Levy Fund.
THIRD:
The Council, pursuant to authority granted under Section 92.031, R.S.Mo. in the
alternative, elects to and does hereby levy and impose a tax for debt service
of seventeen cents ($.17) on each hundred dollars of assessed valuation of all
such taxable property, which tax is necessary for the maintenance of the
General Debt and Interest Fund for the redemption of the outstanding general
obligation bonds of Kansas City maturing in the Fiscal Year 2000-2001 and for
the payment of all interest becoming due and payable in the Fiscal Year
2000-2001, on the entire outstanding general obligation bond indebtedness of
Kansas City, except indebtedness upon which the principal and interest are
payable or budgeted for payment from the General Fund, Water Operating Fund,
Sewer Fund, Sewer Special Assessment Fund, and the Street and Avenue Special
Assessment Fund.
FOURTH:
A general tax of two cents ($.02) on each hundred dollars of the assessed
valuation of all such taxable property for municipal museum purposes, to be
credited to the Museum Special Revenue Fund.
__________________________________________________________________
I hereby certify
that the levy specified in the THIRD paragraph of Section 1 of the foregoing
ordinance is necessary for the maintenance of the General Debt and Interest
Fund for the payment of principal and interest on the outstanding general
obligation bond indebtedness of Kansas City, as stated therein.
___________________________________
Director
of Finance
Approved
as to form and legality:
___________________________________
Assistant
City Attorney