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Legislation #: 981483 Introduction Date: 12/21/1998
Type: Ordinance Effective Date: 1/8/1999
Sponsor: COUNCILMEMBER BACCHUS AND COUNCILMEMBER SIMMONS
Title: Estimating additional revenue in the sum of $1,788,870.00 and appropriating it in various funds and accounts for the purpose of improving the 4900 Swope Parkway Building; estimating revenue in the amount of $38,221.00 in the Equipment Lease Debt Service Fund and appropriating it for debt service; reducing appropriation in the amount of $38,221.00 and reappropriating it in the Equipment Lease Capital Acquisition Fund; designating requisitioning authorities; and authorizing the closure of project accounts upon completion and declaring the intent of City to reimburse itself from the lease purchase proceeds from certain expenditures.

Legislation History
DateMinutesDescription
12/21/1998

Prepare to Introduce

12/21/1998

Referred Planning, Zoning & Economic Development Committee

12/29/1998

Advance and Do Pass

12/29/1998

Passed


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ORDINANCE NO. 981483

 

Estimating additional revenue in the sum of $1,788,870.00 and appropriating it in various funds and accounts for the purpose of improving the 4900 Swope Parkway Building; estimating revenue in the amount of $38,221.00 in the Equipment Lease Debt Service Fund and appropriating it for debt service; reducing appropriation in the amount of $38,221.00 and reappropriating it in the Equipment Lease Capital Acquisition Fund; designating requisitioning authorities; and authorizing the closure of project accounts upon completion and declaring the intent of City to reimburse itself from the lease purchase proceeds from certain expenditures.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the revenue in the following account of the Equipment Lease Capital Acquisition Fund is hereby estimated in the following additional amount:

 

99-323-012-8300 Reimbursement from Bank or Lease $ 410,000.00

 

Section 2. That the sum of $410,000.00 is hereby appropriated from the Unappropriated Fund Balance of the Equipment Lease Capital Acquisition Fund to the following account:

 

99-323-089-7531-T Renovation to the Swope Parkway Building $ 410,000.00

 

Section 3. That the appropriation in the following account of the Equipment Lease Capital Acquisition Fund is hereby reduced by the following amount:

 

98-323-012-9612-T Capitalized Interest - Debt Service $ 38,221.00

 

Section 4. That the sum of $38,221.00 is hereby appropriated from the Unappropriated Fund Balance of the Equipment Lease Capital Acquisition Fund to the following account:

 

99-323-012-9023-B Transfer to Debt Service Fund $ 38,221.00

 

Section 5. That the revenue in the following account of the Equipment Lease Debt Service Fund is hereby estimated in the following amount:

 

99-523-012-9285 Transfer from Equipment Lease Capital $ 38,221.00

Acquisition

 

Section 6. That the sum of $38,221.00 is hereby appropriated from the Unappropriated Fund Balance of the Equipment Lease Debt Service Fund to the following account:

 

99-523-012-9607-G Swope Parkway Renovation Debt Service $ 38,221.00


Section 7. That the revenue in the following account of the General Fund is hereby estimated in the following additional amount:

 

99-100-012-5115 Local Use Tax $1,378,870.00

 

Section 8. That the sum of $1,378,870.00 is hereby estimated from the Unappropriated Fund Balance of the General Fund to the following account:

 

99-100-089-7531-T Renovation to the Swope Parkway Building $1,378,870.00

 

Section 9. That the Director of Public Works is hereby designated as the requisitioning authority for Account Nos. 99-323-089-7531-T and 99-100-089-7531-T and the Director of Finance is hereby designated as the requisitioning authority for Account Nos. 99-323-012-9023-B and 99-523-012-9607-G.

 

Section 10. That the Director of Finance is hereby authorized to close project accounts upon completion and return the unspent portion of the appropriation to the fund balance from which it came.

 

Section 11. 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 ordinance with respect to the Swope Parkway Building improvements with the proceeds of the lease purchase expected to be drawn upon the Master Lease Purchase Agreement with Carlyle Capital Markets, Inc. The maximum principal amount expected to be financed under the lease purchase is $410,000.00.

 

__________________________________________________________________

 

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.

 

 

 

____________________________________

Director of Finance

 

Approved as to form and legality:

 

 

 

___________________________________

Assistant City Attorney