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.

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Approved as to form and legality:

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Heather A. Brown

Assistant City Attorney