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ORDINANCE NO. 080628
Authorizing the Mayor to execute
an intergovernmental agreement with the 1200 Main/South Loop Transportation
Development District to provide for the pledge of certain revenues to the City
to construct and finance public improvements within the district.
WHEREAS, the 1200
Main/South Loop Transportation Development District (District) was formed by
order of the Circuit Court of Jackson County on December 12, 2006; and
WHEREAS, the District
anticipates that it will impose a 1% tax on sales within the Districts
boundaries (Tax) to construct certain transportation improvements within the
District (Improvements); and
WHEREAS, the City and
District wish to enter into an intergovernmental cooperative agreement (the
Agreement) to pledge the available portion of the Tax to the City to cause
the Improvements to be constructed, including the payment of principal and
interest on any bonds issued for this purpose, substantially in the form
attached hereto; NOW, THEREFORE,
BE IT ORDAINED BY THE
COUNCIL OF KANSAS CITY:
Section 1. That the
Mayor is hereby authorized to execute an intergovernmental agreement with the
1200 Main/South Loop Transportation Development District to provide for the
pledge of available tax revenues from the District for the Improvements as
otherwise set out in the agreements between the parties, in substantial form as
that attached to this ordinance.
_______________________________________________
Approved
as to form and legality:
______________________________
Heather
A. Brown
Assistant City Attorney