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Legislation #: 160877 Introduction Date: 11/10/2016
Type: Ordinance Effective Date: none
Sponsor: None
Title: Calling an election on April 4, 2017, for the purpose of authorizing the issuance of an amount not to exceed $800,000,000.00 in General Obligation Bonds; directing the City Clerk to provide notice of the election; declaring the City’s intention to reimburse itself from bond proceeds for bond related expenditures; and recognizing this ordinance as having an accelerated effective date.

Legislation History
DateMinutesDescription
11/9/2016 Filed by the Clerk's office
11/10/2016 Referred to F & G and T & I Joint Committee
12/7/2016 Hold On Agenda (12/15/2016)
12/15/2016 Hold On Agenda (12/22/2016)
12/22/2016 Hold On Agenda (1/11/2017)
1/12/2017 Hold On Agenda (1/19/2017)
1/19/2017 Advance and Do Pass as a Committee Substitute, Debate
1/19/2017 Councilmember Loar (Second by Wagner) Move to Amend
1/19/2017 Passed as Substituted and Amended

View Attachments
FileTypeSizeDescription
160877.pdf Authenticated 209K Authenticated
160877 Fact Sheet - GO Bond 2016.pdf Fact Sheet 43K 160877 Fact Sheet GO Bond
Fact Sheet - GO Bond 2016.xlsx Advertise Notice 57K Fact Sheet

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COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 160877, AS AMENDED

 

Calling an election on April 4, 2017, for the purpose of authorizing the issuance of an amount not to exceed $800,000,000.00 in General Obligation Bonds; directing the City Clerk to provide notice of the election; declaring the City’s intention to reimburse itself from bond proceeds for bond related expenditures; and recognizing this ordinance as having an accelerated effective date.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. The City Council finds it necessary and hereby declares its intent to borrow an amount not to exceed $800,000,000.00 for the purpose of paying for basic capital infrastructure and to evidence such borrowing by the issuance of general obligation bonds of the City of Kansas City, Missouri (the “City”), in a maximum principal amount of $800,000,000.00.

 

Section 2. A special election is ordered to be held in the City on Tuesday, April 4, 2017, on the following questions:

 

QUESTION NO. 1

(Basic capital infrastructure Streets, Bridges, and Sidewalks)

 

Shall the City of Kansas City, Missouri issue its general obligation bonds in an amount not to exceed $600,000,000.00 for the purpose of paying for the construction and reconstruction of streets, bridges, and sidewalks?

 

The authorization of the bonds will authorize the City to maintain tangible property tax rates sufficient to pay the interest and principal on the bonds until fully paid.

 

QUESTION NO. 2

(Basic capital infrastructure Flood Control)

 

Shall the City of Kansas City, Missouri issue its general obligation bonds in an amount not to exceed $150,000,000.00 for the purpose of paying for the acquisition, construction, equipping and reconstruction of flood control projects including, but not limited to, projects partially funded with Federal grants?

 

The authorization of the bonds will authorize the City to maintain tangible property tax rates sufficient to pay the interest and principal on the bonds until fully paid.

 


 

QUESTION NO. 3

(Basic capital infrastructure Public Buildings and Structures)

 

Shall the City of Kansas City, Missouri issue its general obligation bonds in an amount not to exceed $50,000,000.00 for the purpose of paying for the acquisition, construction, equipping and improving of public buildings, facilities, and structures including, but not limited to, the Animal Shelter and for Americans with Disabilities Act improvements to public buildings and structures?

 

The authorization of the bonds will authorize the City to maintain tangible property tax rates sufficient to pay the interest and principal on the bonds until fully paid.

 

Section 3. The form of the Notice of Bond Election for said election will read as follows:

 

NOTICE OF BOND ELECTION

CITY OF KANSAS CITY, MISSOURI

 

Notice is given to the qualified voters of the City of Kansas City, Missouri, that the City Council of the City has called a special election to be held in the City on April 4, 2017, commencing at 6:00 A.M. and closing at 7:00 P.M., on the questions contained in the following sample ballot:

 

OFFICIAL BALLOT

SPECIAL BOND ELECTION

CITY OF KANSAS CITY, MISSOURI

 

APRIL 4, 2017

QUESTION NO. 1

(Basic capital infrastructure Streets, Bridges, and Sidewalks)

 

Shall the City of Kansas City, Missouri issue its general obligation bonds in an amount not to exceed $600,000,000.00 for the purpose of paying for the construction and reconstruction of streets, bridges, and sidewalks?

 

The authorization of the bonds will authorize the City to maintain tangible property tax rates sufficient to pay the interest and principal on the bonds until fully paid.

 

YES [ ] NO [ ]

 


 

QUESTION NO. 2

(Basic capital infrastructure Flood Control)

 

Shall the City of Kansas City, Missouri issue its general obligation bonds in an amount not to exceed $150,000,000.00 for the purpose of paying for the acquisition, construction, equipping and reconstruction of flood control projects including, but not limited to, projects partially funded with Federal grants?

 

The authorization of the bonds will authorize the City to maintain tangible property tax rates sufficient to pay the interest and principal on the bonds until fully paid.

 

YES [ ] NO [ ]

 

QUESTION NO. 3

(Basic capital infrastructure Public Buildings and Structures)

 

Shall the City of Kansas City, Missouri issue its general obligation bonds in an amount not to exceed $50,000,000.00 for the purpose of paying for the acquisition, construction, equipping and improving of public buildings, facilities, and structures including, but not limited to, the Animal Shelter and for Americans with Disabilities Act improvements to public buildings and structures?

 

The authorization of the bonds will authorize the City to maintain tangible property tax rates sufficient to pay the interest and principal on the bonds until fully paid.

 

YES [ ] NO [ ]

 

Instructions to voters will be supplied by the election authorities.

________________________________________________________________________

 

A complete copy of Committee Substitute for Ordinance No. 160877, submitting this question to the electorate, is on file in the Office of the City Clerk of Kansas City, Missouri, and is open for inspection and copying.

 

The election will be held at the following polling places in the City of Kansas City, Missouri: [insert list in last publication only]

________________________________________________________________________

 

I certify that the foregoing is the legal notice to be published pursuant to Section 115.127, R.S.Mo., as amended.

 


 

Given under my hand and the official seal of the City of Kansas City, Missouri, _________, 2017.

 

(SEAL) ______________________________________

Marilyn Sanders

City Clerk of Kansas City, Missouri

 

Before me a notary public personally appeared Marilyn Sanders, to me known to be the City Clerk of Kansas City, Missouri, and the person who acknowledged to me that she executed the same for the purposes therein stated.

 

____________________________________

Notary Public

 

My Commission Expires: ______________________

 

Section 4. Upon passage of this ordinance and not later than January 24, 2017, the Clerk shall deliver certified copies of this ordinance and notice of election to the Board of Election Commissioners of Kansas City, Missouri, the Board of Election Commissioners of Platte and Clay Counties, Missouri, and to the Clerk of the County Commission of Cass County, Missouri.

 

Section 5. That the City expects to make capital expenditures in connection with the projects to be financed and hereby declares its official intent to reimburse itself for certain expenditures made within 60 days prior to or on and after the date of this ordinance with the proceeds of the bonds. The maximum principal amount of obligations expected to be financed for the projects is $800,000,000.00. This constitutes a declaration of official intent under Treasury Regulation 1.150-2.

 

Section 6. This ordinance providing for the submission of a question to the people of Kansas City, Missouri is recognized as having an accelerated effective date within the meaning of Section 503(a)(3)(A), Charter of Kansas City, and as such shall become effective in accordance with that section.

 

_______________________________________________________

 

Approved as to form and legality:

 

__________________________________

Sarah Baxter

Assistant City Attorney