RESOLUTION NO. 010304

Authorizing the development of a financing for the current refunding of a Sewerage System Refunding and Improvement Revenue Bonds, Series 1992 (Bonds) issued for the purpose of providing funds to refund $31,045,000.00 of principal amount of the then outstanding Sewerage System Revenue Bonds of the City and paying part of the cost of extending and improving the sewerage system of the City, and authorizing certain other actions pursuant thereto.

WHEREAS, the City has determined that it is in the best interests of the City to refund the outstanding principal of the Bonds; and

WHEREAS, the City Council (the "Council") supports the development of financing to achieve the refunding of the Bonds (hereafter the "Project"); and

WHEREAS, the City has selected the firms of A.G. Edwards & Sons, Inc. and The Knight Group, Inc. to act as financial advisors in connection with the issuance of bonds to finance the Project; and

WHEREAS, it is the desire and intent of the Council to authorize the Director of Finance and City Attorney to proceed with such selection and those actions necessary to provide for such financing through the issuance of tax-exempt Sewerage System Refunding Revenue Bonds; NOW, THEREFORE,

BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the Council authorizes the development of financing of the Project, and directs that funding therefore be effected by the issuance of tax-exempt Sewerage System Refunding Revenue Bonds by the City in an approximate principal sum not to exceed $16,000,000.00.

Section 2. That the Council does hereby authorize and direct that the financing arrangements referred to in this resolution including the negotiation of the financial terms and other provisions be developed by the Director of Finance and City Attorney for approval by the Council.

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