KC Skyline

City Clerk Web Search

Search the Ordinances:

Legislation #: 050449 Introduction Date: 4/14/2005
Type: Ordinance Effective Date: none
Sponsor: COUNCILMEMBER EDDY
Title: In conjunction with the KC Live Downtown Entertainment District Project, establishing Fund Number 3300, renaming Fund Numbers 3310, reestimating revenues and reappropriating funds in the aforementioned Fund Numbers; appropriating debt service; additionally appropriating fiscal year 2005-06 debt service payments for the Sprint Arena and Blue Parkway Town Center Projects, designating requisitioning authorities; and authorizing the Director of Finance to close project accounts upon completion.

Legislation History
DateMinutesDescription
4/14/2005 Filed by the Clerk's office
4/14/2005 Referred to Operations Committee
4/20/2005 Advance and Do Pass, Debate
4/21/2005 Passed

View Attachments
FileTypeSizeDescription
050449.pdf Authenticated 127K Authenticated
050449 fiscal notes-Kordish E_A fiscal note v1.xls Fiscal Note 33K Fiscal Note
fact sheet.xls Advertise Notice 42K fact sheet
approp.xls Advertise Notice 332K appropriation form

Printer Friendly Version

ORDINANCE NO. 050449

 

In conjunction with the KC Live Downtown Entertainment District Project, establishing Fund Number 3300, renaming Fund Numbers 3310, reestimating revenues and reappropriating funds in the aforementioned Fund Numbers; appropriating debt service; additionally appropriating fiscal year 2005-06 debt service payments for the Sprint Arena and Blue Parkway Town Center Projects, designating requisitioning authorities; and authorizing the Director of Finance to close project accounts upon completion.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Fund Number 3300, Kansas City Downtown Redevelopment District, Series A is hereby established in the records of the City of Kansas City, Missouri.

 

Section 2. That Fund number 3310 be renamed to Kansas City Downtown Redevelopment District Project, Series B.

Section 3. That the additional revenue in the following account is hereby estimated in the following amounts:

 

AL-3300-120000-590000 Proceeds from Sale of Bonds $37,499,483.00

 

Section 4. That the appropriations in the following accounts of Fund Number 3300, Kansas City Downtown Redevelopment District, Series A are hereby reduced by the following amounts:

 

AL-3300-647229-64CONV-B 1200 Main TIF Project $37,834,295.00

 

Section 5. That the sum of $ 75,333,778.00 is hereby appropriated from the Unappropriated Fund Balance of Fund Number 3300, Kansas City Downtown Redevelopment District, Series A to the following accounts:

 

AL-3300-877229-B 1200 Main TIF Project $75,333,778.00

 

Section 6. That the additional revenue in the following account of Fund 3310 is hereby estimated in the following amount:

 

AL-3310-120000-590000 Proceeds from Sale of Bonds $46,668,843.00

 

Section 7. That the sum of $46,668,843.00 is hereby appropriated from the Unappropriated Fund Balance of Fund Number 3310, Kansas City Downtown Redevelopment District, Series B to the following accounts:

 

AL-3310-647229-B 1200 Main TIF Project $44,150,968.00

AL-3310-877229-B 1200 Main TIF Project 2,517,875.00

TOTAL $46,668,843.00

 

Section 8. That the City Manager, Director of Finance and Director of City Development is hereby authorized to transfer existing encumbrances and expenditures to proper accounts in order to achieve correct allocation of expenditures between Kansas City Downtown Redevelopment District, Series A and B Bonds.

 

Section 9. That the sum of $748,350.00 is hereby appropriated from the Unappropriated Fund Balance of Fund 5300, Blue Parkway Town Center Debt Fund to the following account:

 

06-5300-129634-741100 DS STIF Brush Cr/Blue Pkwy/TC $ 748,350.00

 

Section 10. That the Fund Number 5320, Kansas City Downtown Redevelopment District Debt Fund is hereby established in the records of the City of Kansas City, Missouri.

 

Section 11. That the revenue in the following account of Fund 5320, Kansas City Downtown Redevelopment District Fund to the following account:

 

06-5320-120000-461290 Capitalized Interest $20,317,403.00

 

Section 12. That the sum of $7,200,000.00 is hereby appropriated from the Unappropriated Fund Balance of Fund 5320, Kansas City Downtown Redevelopment District Debt Fund to the following account:

 

06-5320-129628-G DS 05 TIF Downtown Redevelopment $ 7,200,000.00

 

Section 13. That the sum of $10,925,650.00 is hereby appropriated from the Unappropriated Fund Balance of Fund 5050, Downtown Arena Debt Fund to the following account:

 

06-5050-129627-G Principal on Bonds $ 10,925,650.00

 

Section 14. That the City Manager is hereby designated as the requisitioning authority for account numbers AL-3300-877229 and AL 3310-877229, that the Director of City Development is hereby designated as requisitioning authority for account numbers 05-3310-0647229-B and that the Director of Finance is hereby designated as requisitioning authority for Account Numbers 06-5300-129634, 06-5310-129638, 06-5050-129627 and 06-5320-129628.

 

Section 15. That the Director of Finance is hereby authorized to close project accounts upon project completion and return the unspent portion of the appropriation to the Fund Balance from which it came.

 

____________________________________________

 


I hereby certify that there is a balance, otherwise unencumbered, to the credit of the appropriation to which the foregoing expenditures are 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.

 

 

_______________________

Wanda Gunter

Acting Director of Finance

 

Approved as to form and legality:

 

 

________________________

Heather A. Brown

Assistant City Attorney