COMMITTEE SUBSTITUTE
FOR ORDINANCE NO. 110045
Estimating and appropriating
$2,292,779.00 in the 2011 GO Bond Fund from the anticipated sale of general
obligation bonds; authorizing the Director of Public Works to expend
$2,292,779.00 for five street reconstruction projects; designating
requisitioning authority; declaring the City’s intention to reimburse itself
from bond proceeds for bond related expenditures; and recognizing an emergency.
WHEREAS,
Resolution No. 100446 was adopted by the City Council on June 3, 2010, which
authorized the sale of General Obligation Bonds in the amount of $67.3 million;
NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF
KANSAS CITY:
Section 1. That
revenue in the following account of the 2011 GO Bond Fund is estimated in the
following amount:
AL-3397-120000-590000 Proceeds
from Sale of Bonds $2,292,779.00
Section 2. That
$2,292,779.00 is appropriated from the Unappropriated Fund Balance of the 2011
GO Bond Fund to the following accounts in the 2011 GO Bond Fund:
AL-3397-897001-B-89008208 Wornall-
Ward Parkway to 89th $ 837,181.00
AL-3397-897001-B-89008210 Wornall-
79th to 85th 837,182.00
AL-3397-897001-B-89008212 N
Brighton- NE 49th to NE 52nd 188,246.00
AL-3397-897001-B-89008215 Belvidere
Parkway- Hwy 9 to North
Congress 216,804.00
AL-3397-897001-B-89008216 39th
St- Cleveland Ave to Elmwood 213,366.00
TOTAL
$2,292,779.00
Section 3.
That the Director of Public Works is authorized to expend the sum of $2,292,779.00
from funds appropriated to Account Nos. AL-3397-897001-B-89008208, 89008210,
89008212, 89008215, and 89008216.
Section 4. That
the Director of Public Works is designated as requisitioning authority for
Account No. AL-3397-897001.
Section 5. That the City expects to make
capital expenditures in connection with the projects to be financed and hereby
declares its official intent to reimburse itself for certain expenditures made
within 60 days prior to or on and after the date of this ordinance with the
proceeds of the bonds. The maximum principal amount of obligations expected to
be financed for the projects is $2,292,779.00. This constitutes a declaration
of official intent under Treasury Regulation 1.150-2.
Section 6.
That this ordinance is recognized as an emergency measure within the provisions
of Section 503 of the City Charter in that it appropriates money, and shall
take effect in accordance with that section.
_____________________________________________
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.
___________________________________
Randall J. Landes
Director of Finance
Approved as to form and legality:
___________________________________
Brian Rabineau
Assistant City Attorney