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Legislation #: 140761 Introduction Date: 9/11/2014
Type: Ordinance Effective Date: none
Sponsor: None
Title: Amending Ordinance No. 140170 by repealing Section 1 and enacting in its place a new Section 1, increasing the taxes levied for the general fund and museum fund, and recognizing this ordinance as having an accelerated effective date.

Legislation History
DateMinutesDescription
9/8/2014 Filed by the Clerk's office
9/11/2014 Referred to Finance, Governance & Ethics Committee
9/24/2014 Advance and Do Pass as a Committee Substitute, Debate
9/25/2014 Passed as Substituted

View Attachments
FileTypeSizeDescription
140761.pdf Authenticated 150K Authenticated
FY 2014-15 Fact Sheet Levy Rate Amendment - Ordinance 140170.xls Fact Sheet 51K Fact Sheet
140761 Fact Sheet.pdf Fact Sheet 25K Fact Sheet

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COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 140761

 

Amending Ordinance No. 140170 by repealing Section 1 and enacting in its place a new Section 1, increasing the taxes levied for the general fund and museum fund, and recognizing this ordinance as having an accelerated effective date.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section A. That Ordinance No. 140170 is hereby amended by repealing Section 1 and enacting a new Section 1 in its place to read as follows:

 

Section 1. That taxes for Fiscal Year 2014-2015, commencing on the first day of May, 2014, in the total amount of one dollar fifty-nine and ninety-seven hundredth cents ($1.5997) per hundred dollars, shall be and are hereby levied on all property within the City, subject to taxation on January 1, 2014, under the Constitution and laws of the State of Missouri, both real and tangible personal, subject to the provisions contained in Section 2 of this ordinance, as follows:

 

FIRST: A general tax of seventy-one and ninety-seven hundredth cents ($0.7197) on each hundred dollars of the assessed valuation of all such taxable property is levied and imposed for municipal operating purposes, to be credited to the General Fund.

 

SECOND: A general tax of seventy-two and zero hundredth cents ($0.7200) on each hundred dollars of assessed valuation of all such taxable property is levied and imposed for municipal operating expenses for hospitals and public health purposes, to be credited to the Health Levy Fund.

 

THIRD: The Council, pursuant to authority granted under Section 92.031, R.S.Mo. in the alternative, elects to impose a tax for debt service of fourteen and zero hundredth cents ($0.1400) on each hundred dollars of assessed valuation of all such taxable property, which tax is necessary for the maintenance of the General Debt and Interest Fund for the redemption of the outstanding general obligation bonds of the City maturing in Fiscal Year 2014-2015 and for the payment of all interest becoming due and payable in Fiscal Year 2014-2015, on the entire outstanding general obligation bond indebtedness of the City, except indebtedness upon which the principal and interest are payable or budgeted for payment from other funds of the City.

 

FOURTH: A general tax of two and zero hundredth cents ($0.0200) on each hundred dollars of the assessed valuation of all such taxable property for municipal museum purposes, to be credited to the Museum Special Revenue Fund.

 

Section B. That this ordinance relating to setting the annual levy rates for taxation of real and tangible personal property is recognized as an ordinance with an accelerated effective date as provided by Section 503(a)(3)(G) of the City Charter and shall take effect in accordance with Section 503, City Charter.

 

________________________________________________

 

I hereby certify that the levy specified in the THIRD paragraph of Section 1 of Section A of the foregoing ordinance is necessary for the maintenance of the General Debt and Interest Fund for the payment of principal and interest on the outstanding general obligation bond indebtedness of Kansas City, as stated therein.

 

 

___________________________________

Randall J. Landes

Director of Finance

 

Approved as to form and legality:

 

 

___________________________________

Stephen Walsh

Assistant City Attorney