KC Skyline

City Clerk Web Search

Search the Ordinances:

Legislation #: 980836 Introduction Date: 7/9/1998
Type: Ordinance Effective Date: 8/2/1998
Sponsor: None
Title: Approving the issuance by Kansas City Municipal Assistance Corporation of its Leasehold Improvement Revenue Bonds, Series 1998A (City of Kansas City, Missouri, Lessee) (the "Series 1998A Bonds"), in the principal amount not to exceed $8,000,000.00; approving and authorizing the Indenture of Trust, the Base Lease, the Lease Purchase Agreement, a Preliminary Official Statement and Official Statement respecting said Series 1998A Bonds; and approving and authorizing certain other actions relating to the issuance of the Series 1998A Bonds.

Legislation History
DateMinutesDescription
7/9/1998

Prepare to Introduce

7/9/1998

Referred Finance & Administration Committee

7/15/1998

Hold On Agenda

7/22/1998

Advance and Do Pass as a Committee Substitute

7/23/1998

Passed as Substituted


View Attachments
FileTypeSizeDescription
No attachment(s) found

Printer Friendly Version

 

COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 980836

 

Approving the issuance by Kansas City Municipal Assistance Corporation of its Leasehold Improvement Revenue Bonds, Series 1998A (City of Kansas City, Missouri, Lessee) (the "Series 1998A Bonds"), in the principal amount not to exceed $8,000,000.00; approving and authorizing the Indenture of Trust, the Base Lease, the Lease Purchase Agreement, a Preliminary Official Statement and Official Statement respecting said Series 1998A Bonds; and approving and authorizing certain other actions relating to the issuance of the Series 1998A Bonds.

 

WHEREAS, the Kansas City Municipal Assistance Corporation (the "Corporation") proposes to issue pursuant to an Indenture of Trust dated as of August 1, 1998 (the "Indenture"), by and between the Corporation and First Bank of Missouri, as trustee (the "Trustee"), its Leasehold Improvement Revenue Bonds, Series 1998A (City of Kansas City, Missouri, Lessee) (the "Series 1998A Bonds") in the principal amount not to exceed $8,000,000.00; to provide funds to provide for the acquisition, improvement, construction, equipping and furnishing of an 18‑hole golf course, clubhouse and related improvements to be located on approximately 200 acres north of Highway 152 immediately east of the existing Hodge Park Golf Course in the City (the "Project"), to fund a debt service reserve fund for the Series 1998A Bonds, to pay the bond insurance premium and certain costs of issuance; and

 

WHEREAS, on July 21, 1998, the Board of Parks and Recreation Commissioners adopted Resolution No. 24386, approving the Lease Purchase Agreement dated as of August 1, 1998, and its terms and provisions in connection with the issuance of the Series 1998A Bonds; and

 

WHEREAS, the City has found and determined that financing of the Project will benefit the citizens of the City; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. The City hereby requests, directs and instructs the Corporation to, and consents to and approves the issuance by the Corporation of the Series 1998A Bonds pursuant to an Indenture of Trust dated as of August 1, 1998 (the "Indenture"), a copy of which in substantially the form proposed to be utilized is attached hereto as Exhibit A and the execution and delivery of which are hereby consented to and approved with such changes and additions thereto as the Director of Finance deems necessary or appropriate for the purpose of providing funds to enable the Corporation to finance the Project, to fund a debt service reserve fund for the Series 1998A Bonds, to pay the bond insurance premium and the costs of issuing the Series 1998A Bonds. The Series 1998A Bonds shall be dated, mature, be in such denominations, bear interest at such times and have such other terms and provisions as shall be provided in the Indenture.

 

Section 2. The Base Lease dated as of August 1, 1998 (the "Base Lease"), by and between the Corporation, as lessor, and the City, as lessee, and the Lease Purchase Agreement dated as of August 1, 1998 (the "Lease Purchase Agreement"), by and between the Corporation, as lessor, and the City, as lessee are hereby approved in substantially the forms attached hereto as Exhibits B and C, and the City Manager and the Director of Finance are authorized to execute and deliver and the City Clerk is authorized to attest the signatures and affix the City's seal to the Base Lease and the Lease Purchase Agreement with such changes therein and additions thereto as the City Manager and the Director of Finance deem necessary or appropriate.

 


Section 3. The City hereby authorizes and approves the Preliminary Official Statement in substantially the form attached hereto as Exhibit D, and authorizes the preparation of a final Official Statement by amending, supplementing and completing the Preliminary Official Statement by the Director of Finance with such changes and additions thereto as the Director of Finance deems necessary or appropriate, the signature of the Director of Finance thereon being conclusive evidence of the Director's approval and the City's approval thereof. The City hereby consents to the use and public distribution of the Preliminary Official Statement and the final Official Statement in connection with the offering for sale of the Series 1998A Bonds.

 

Section 4. The officials of the City are further authorized and directed to execute such documents, instruments and certificates and to take such further actions on behalf of the City as shall be necessary or desirable to effect the terms and provisions of this Ordinance.

 

_________________________________________________________________

 

Approved as to form and legality:

 

 

 

_______________________________________

Assistant City Attorney