ORDINANCE NO. 090655

 

Adjusting appropriations in various Bartle Hall construction funds of the City, transferring $12,796,558.45 from the Bartle Series 1990 B-1 and Series 1991B funds to the Convention and Sports Complex Fund to pay debt service costs for FY 2009-10; and authorizing the Director of Finance to close the KCMAC Bartle Hall Refunding and Improvement Series 1990 B-1 Fund (No 3850) and the KCMAC Bartle Hall Leasehold Improvement Series 1991B Fund (No. 3860).

 

WHEREAS, FY 2009-10 is the final year of debt service needed to fully repay the bonds issued in the 1990 and 1991 for construction of the Bartle Hall Convention Center; and

 

WHEREAS, the 1990 and 1991 bond issues contained a debt service reserve that can now be used to make the final year of debt service on these bonds; and

 

WHEREAS, use of $11 million of debt service reserve was anticipated as a part of the FY 2009-10 budget; and

WHEREAS, the 1995 and 1996 bonds were refinancing previous Bartle Hall bonds and can now be closed as well; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That appropriations in the following accounts of the KCMAC Bartle Hall Refunding and Improvement Series 1990 B-1 Fund (No. 3850) are hereby reduced by the following amounts: 

AL-3850-129611-G Debt Service Reserve $2,189,854.00

Section 2. That $2,100,100.09 is appropriated from the Unappropriated Fund Balance of the KCMAC Bartle Hall Refunding and Improvement Series 1990 B-1 Fund (No. 3850) to the following account in the KCMAC Bartle Hall Refunding and Improvement Series 1990 B-1 Fund (No. 3850):

AL-3850-129998-X-905370 Trfr to Conv & Sports Complex Fund $2,100,100.09

Section 3. That $11,815,571.55 is appropriated from the Unappropriated Fund Balance of the KCMAC Bartle Hall Leasehold Improvement Series 1991B Fund (No. 3860) to the following accounts in the KCMAC Bartle Hall Leasehold Improvement Series 1991B Fund (No. 3860):

AL-3860-129671-B Defeasance of Bonds $ 13,042.49

AL-3860-129998-X-905370 Trfr to Conv & Sports Complex Fund 11,802,529.06

TOTAL: $11,815,571.55

Section 4. That the revenue in the following account of the Bartle Hall Series 2005A Fund (No. 3406) is reduced in the following amount:

 

AL-3406-120000-503940 Trfr from KCMAC Bartle Refunding 1995A $18,935.20

 

Section 5. That the appropriation in the following account of the KCMAC Bartle Refunding 1995A Bond Fund (3940) is reduced in the following amount:

 

AL-3940-129998-X-903406 Trfr to Bartle Hall Series 2005A $18,935.20

 

Section 6. That $9,216.22 is appropriated from the Unappropriated Fund Balance of the Convention and Sports Complex Fund (No. 5370) to the following account of the Convention and Sports Complex Fund (No. 5370):

 

10-5370-129998-X-903940 Trfr to KCMAC Bartle Refunding 95A $9,216.22

 

Section 7. That revenue is estimated in the following account of the KCMAC Bartle Refunding 1995A Bond Fund (3940):

AL-3940-120000-505370 Trfr from Convention and Sports Complex $9,216.22

 

Section 8. That the revenue in the following account of the 06 Music Hall/Audit Garage Fund (No. 3425) is reduced in the following amount:

 

AL-3425-120000-503950 Trfr from KCMAC Bartle Refunding 1996A $0.32

 

Section 9. That an appropriation in the following account of the KCMAC Bartle Refunding 1996A Bond Fund (No. 3950) is reduced in the following amount:

 

AL-3950-129998-X-903425 Trfr to 06 Music Hall/Audit Garage $0.32

 

Section 10. That $519,104.90 is appropriated from the Unappropriated Fund Balance of the KCMAC Bartle Refunding 1996A Bond Fund (No. 3950) to the following account of the KCMAC Bartle Refunding 1996A Bond Fund (No. 3950):

 

AL-3950-129998-X-905370 Transfer to Convention & Sports Complex $519,104.58

 

Section 11. That revenue is estimated in the following accounts of the Convention and Sports Complex Fund (No. 5370):

 

10-5370-120000-503850 Trfr from KCMAC Bartle 1990 B-1 $ 1,882,084.62

10-5370-120000-503860 Trfr from KCMAC Bartle 1991B 10,914,473.83

10-5370-120000-503950 Trfr from KCMAC Bartle 1996A 16,900.89

TOTAL $12,813,459.34

 

Section 12. That the Director of Finance is authorized to close the KCMAC Bartle Hall Refunding and Improvement Series 1990 B-1 Fund (No. 3850), the KCMAC Bartle Hall Leasehold Improvement Series 1991B Fund (No. 3860), the KCMAC Bartle Refunding 1995A Bond Fund (No. 3940), and the KCMAC Bartle Refunding 1996A Bond Fund (No. 3950), and transfer any remaining City or trustee cash balances to the Convention and Sports Complex Fund (No. 5370).

 

__________________________________________________

 

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.

 

 

___________________________________

Jeffrey A. Yates

Director of Finance

 

Approved as to form and legality:

 

 

___________________________________

Joseph Guarino

Assistant City Attorney