ORDINANCE NO. 080566

Renaming Fund No. 3455 the 2008B KCMO Special Obligations Bond Fund; reestimating bond proceeds in the amount of $3,835,599.00 in that fund and appropriating it; establishing Fund No. 5301, the STIF-East Village Fund; transferring $2,712,302.00 to that fund; appropriating $1,333,259.00 from the Unappropriated Fund Balance of that fund; designating requisitioning authorities; authorizing the Director of Finance to close project accounts upon completion; and authorizing the City to reimburse itself with proceeds of bonds.

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That Fund No. 3455, is hereby renamed the 2008B KCMO Special Obligations Bond Fund in the financial records of the City.

Section 2. That the revenue in the following accounts of Fund No. 3455, the 2008B KCMO Special Obligations Bond Fund, is hereby reestimated in the following amounts:

AL-3455-120000-590000 Proceeds from Sale of Bonds $3,205,698.00

AL-3455-120000-485100 Premium on Bonds Sold 629,901.00

TOTAL $3,835,599.00

Section 3. That the sum of $ 3,835,599.00 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 3455, the 2008B KCMO Special Obligations Bond Fund, to the following accounts:

AL-3455-129620-B Bond Issue Expense $ 751,483.00

AL-3455-129632-B Original Issue Discount 146,333.00

AL-3455-129631-B Underwriter Discount 214,481.00

AL-3455-129998-X Transfer to Fund No. 5301 2,712,302.00

AL-3455-129686-B Arbitrage Rebate Calculation 11,000.00

TOTAL $3,835,599.00

Section 4. That the Fund No. 5301, the STIF-East Village Fund is hereby established in the records of the City of Kansas City, Missouri.

Section 5. That the revenue in the following accounts of Fund No. 5301, the STIF-East Village Fund, is hereby re-estimated in the following amounts:

09-5301-120000-503455 Transfer from Fund No. 3455 $2,712,302.00

Section 6. That the sum of $1,333,259.00 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 5301, the STIF-East Village Fund, to the following accounts:

09-5301-129678-G 2008B Special Obligation Bonds $1,333,259.00

Section 7. That the Director of Finance is hereby designated as the requisitioning authority for Account Nos. AL-3455-129620, AL-3455-129632, AL-3455-129631, AL-3455-129998, AL-3455-129686 and 09-5301-129678.

Section 8. 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.

Section 9. That the City declares its intent to reimburse itself for certain expenditures made within six (6) months prior to and on and after the date of this ordinance with respect to the Village and JE Dunn/11th & Locust Garage and East Village Property Acquisition and Development with the proceeds of bonds expected to be issued by the City or through one of its statutory agencies. This constitutes a declaration of official intent under Treasury Regulation 1-150-2.

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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.

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Wanda Gunter

Acting Director of Finance

Approved as to form and legality:

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Heather A. Brown

Assistant City Attorney