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Legislation #: 130626 Introduction Date: 8/22/2013
Type: Ordinance Effective Date: none
Sponsor: None
Title: Reducing appropriations; estimating revenue in various airport funds to record the sale of the Series 2013A and 2013B General Improvement Airport Refunding Revenue Bonds and appropriating the same; designating requisitioning authority; and authorizing the Director of Finance to close project accounts upon completion.

Legislation History
DateMinutesDescription
8/21/2013 Filed by the Clerk's office
8/22/2013 Referred to Finance, Governance & Ethics Committee
8/28/2013 Advance and Do Pass, Consent
8/29/2013 Passed

View Attachments
FileTypeSizeDescription
130626.pdf Authenticated 286K Authenticated
130626 Fiscal Note.pdf Fiscal Note 168K Fiscal Note
130626 Fact Sheet.pdf Fact Sheet 177K Fact Sheet
GARB 2013A B E A Ordinance Approp Admin.pdf Other 61K GARB 2013A & B Admin Approp

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ORDINANCE NO. 130626

 

Reducing appropriations; estimating revenue in various airport funds to record the sale of the Series 2013A and 2013B General Improvement Airport Refunding Revenue Bonds and appropriating the same; designating requisitioning authority; 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 appropriation in the following account of Fund 8350, the KCI Passenger Facility Charge Fund, is hereby reduced by the following amount:

 

14-8350-629600-G Balance Series 2001 Debt Service Fund $3,337,503.00

Section 2. That the sum of $13,337,503.00 is hereby appropriated from the Unappropriated Fund Balance of Fund 8350, the KCI Passenger Facility Charge Fund, to the following accounts:

 

14-8350-129998-908400 Transfer to General Improvement Airport $ 3,337,503.00 Revenue Bond fund (Series 2001 Debt Service)

14-8350-129998-908400 Transfer to General Improvement Airport 10,000,000.00 Revenue Bond fund (Series 2001 Debt Service-Reserve)

TOTAL $13,337,503.00

Section 3. That the sum of $3,998,317.00 is hereby appropriated from the Unappropriated Fund Balance of Fund 8300, the Kansas City Airports Fund, to the following account:

 

14-8300-129998-908400 Transfer to General Improvement Airport $ 3,998,317.00 Revenue Bond Fund (Series 2003A Debt Service Fund)

Section 4. That the revenue in the following accounts of Fund 8400, the General Improvement Airport Revenue Bond Fund, is hereby estimated in the following amounts:

 

AL-8400-620000-590000 Proceeds from Sale of Bonds $ 144,965,000.00

AL-8400-620000-485100 Premium on Bonds Sold 13,305,440.00

AL-8400-620000-508350 Transfer from the KCI Passenger Facility 13,337,503.00 Charge Fund (Series 2001 Debt Service Fund)

AL-8400-620000-508300 Transfer from the Kansas City Airports Fund 3,998,317.00

(Series 2003A Debt Service Fund)

TOTAL $175,606,260.00

 

Section 5. That the sum of $175,606,260.00 is hereby appropriated from the Unappropriated Fund Balance of Fund 8400, the General Improvement Airport Revenue Bond Fund, to the following accounts:

 

AL-8400-129620-B Bond Issue Expense $ 450,551.00

AL-8400-129631-B Underwriter Discount 621,471.00

AL-8400-129686-B Arbitrage Rebate Calculation 14,710.00

AL-8400-129998-908300 Transfer to the Kansas City Airports Fund 5,902,824.00 (Series 2003A Refunding Portion

Debt Service Reserve (2013A Reserve)

AL-8400-129998-908350 Transfer to the KCI Passenger Facility Charge 7,920,015.00 Fund (Series 2001 Refunding Portion

Debt Service Reserve (2013A Reserve)

AL-8400-129671-G Defeasance of Series 2003A 64,891,480.00

AL-8400-129671-G Defeasance of Series 2001 95,805,209.00

TOTAL $175,606,260.00

 

Section 6. That the sum of $ 1,130,006.00 is hereby appropriated from the Unappropriated Fund Balance of Fund 8300, the Kansas City Airports Fund, to the following account:

 

14-8300-129998-908400 Transfer to General Improvement Airport $ 1,130,006.00

Revenue Bond Fund (Series 2003B Bond fund

Debt Service Fund)

 

Section 7. That the revenue in the following accounts of Fund 8400, the General Improvement Airport Revenue Bond Fund, is hereby estimated in the following amounts:

 

AL-8400-620000-590000 Proceeds from Sale of Bonds $52,145,000.00

AL-8400-620000-485100 Premium on Bonds Sold 6,466,851.00

AL-8400-620000-508300 Transfer from the Kansas City Airports Fund 1,130,006.00

(Series 2003B Debt Service Fund) TOTAL $ 59,741,857.00

Section 8. That the sum of $59,741,857.00 is hereby appropriated from the Unappropriated Fund Balance of Fund 8400, the General Improvement Airport Revenue Bond Fund, to the following accounts:

 

AL-8400-129620-B Bond Issue Expense $ 160,118 .00

AL-8400-129631-B Underwriter Discount 193,263.00

AL-8400-129686-B Arbitrage Rebate Calculation 5,290.00

AL-8400-129998-908300 Transfer to the KCI Passenger Facility Charge 4,972,179.00 Fund (2013B Reserve Requirement)

AL-8400-129671-G Defeasance of Series 2003B 54,411,007.00

TOTAL $59,741,857.00

 

Section 9. That the revenue in the following account of Fund 8300, the Kansas City Airports Fund, is hereby estimated in the following amount:

 

14-8300-620000-508400 Transfer from Transfer to General $10,875,003.00

Improvement Airport Revenue Bond Fund

 

Section 10. That the sum of $10,875,003.00 is hereby appropriated from the Unappropriated Fund Balance of Fund 8300, the Kansas City Airports Fund, to the following account:

 

14-8300-629611-G Debt Service Reserve $10,875,003.00

(GARB 2003A & 2003B Portion)

 

Section 11. That the revenue in the following account of Fund 8350, the KCI Passenger Facility Charge Fund, is hereby estimated in the following amount:

 

14-8350-620000-508400 Transfer from Transfer to General $7,920,015.00

Improvement Airport Revenue Bond Fund

 

Section 12. That the sum of $7,920,015.00 is hereby appropriated from the Unappropriated Fund Balance of Fund 8350, the KCI Passenger Facility Charge Fund, to the following account:

 

14-8350-629611-G Debt Service Reserve (PFC 2001 Portion) $7,920,015.00

Section 13. That the Director of Finance is hereby designated as requisitioning authority for Account Nos. 14-8350-129998, AL-8400-129620, AL-8400-129631, AL-8400-129998, AL-8400-129686, 14-8300-129998 and AL-8400-129671, and the Director of Aviation is hereby designated as requisitioning authority for Account Nos. 14-8300-629611 and 14-8350-629611.

Section 14. 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 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:

 

 

Sarah Baxter

Assistant City Attorney