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Legislation #: 090984 Introduction Date: 11/19/2009
Type: Ordinance Effective Date: none
Sponsor: COUNCILMEMBER MARCASON
Title: Authorizing the Director of Finance to execute, on behalf of the City of Kansas City, Missouri, an agreement with the Jackson County, Missouri, to provide for the disbursement of certain surplus funds.

Legislation History
DateMinutesDescription
11/19/2009 Filed by the Clerk's office
11/19/2009 Referred to Finance and Audit Committee
12/2/2009 Hold On Agenda (12/9/2009)
12/16/2009 Hold Off Agenda
7/21/2010 Release
7/22/2010 Released

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ORDINANCE NO. 090984

 

Authorizing the Director of Finance to execute, on behalf of the City of Kansas City, Missouri, an agreement with the Jackson County, Missouri, to provide for the disbursement of certain surplus funds.

WHEREAS, the City has considered the termination of the 43rd & Main Street Tax Increment Funds and proposed the disbursement of funds to all participating taxing jurisdictions; and

WHEREAS, the City and the County have been discussing the resolution of certain issues created by the approval of Project N for the Union Hill Tax Increment Financing Plan; and

WHEREAS, the distribution of the 43rd & Main Street surplus funds will allow the County and the City to resolve the issues; NOW, THEREFORE,  

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

  Section 1. That the revenue in the following account of the General Fund is hereby estimated in the following amount:

XXXXXXXXXXXXXX _______________ $_________

Section 2. That the sum of $_____________ is hereby appropriated from the Unappropriated Fund Balance of the General Fund to the following account of that Fund:

XXXXXXXXXXXXXX ________________ $_________

Section 3. That the Director of Finance is hereby authorized to execute an agreement with Jackson County, Missouri, to provide for the disbursement of surplus funds from the 43rd & Main Street Tax Increment Financing Plan for the benefit of Project N of the Union Hill Tax Increment Financing Plan. A copy of the proposed agreement is attached hereto in substantial form and made a part hereof.

_________________________________________

 

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:

 

______________________________

Heather Brown

Assistant City Attorney