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Legislation #: 001065 Introduction Date: 8/3/2000
Type: Ordinance Effective Date: 8/27/2000
Sponsor: None
Title: Amending Ordinance No. 000269 by repealing Section 1 and enacting in its place a new Section 1, increasing the tax levy for debt service.

Legislation History
DateMinutesDescription
8/3/2000

Prepare to Introduce

8/3/2000

Referred Finance and Audit Committee

8/9/2000

Do Pass as a Committee Substitute

8/10/2000

Assigned to Third Read Calendar

8/17/2000

Passed as Substituted


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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