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Legislation #: 980333 Introduction Date: 3/26/1998
Type: Ordinance Effective Date: 4/12/1998
Sponsor: None
Title: Authorizing the Director of Finance to execute any and all documents and agreements necessary for the financing of energy related improvements for City-owned facilities of the Convention and Entertainment Centers Department under a Master Lease Purchase Agreement; estimating revenue in the sum of $8,400,000.00 and appropriating it for energy related improvements; designating requisitioning authority; and recognizing an emergency.

Legislation History
DateMinutesDescription
3/26/1998

Prepare to Introduce

3/26/1998

Referred Finance & Administration Committee

4/1/1998

Advance and Do Pass

4/2/1998

Passed


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ORDINANCE NO. 980333

 

Authorizing the Director of Finance to execute any and all documents and agreements necessary for the financing of energy related improvements for City-owned facilities of the Convention and Entertainment Centers Department under a Master Lease Purchase Agreement; estimating revenue in the sum of $8,400,000.00 and appropriating it for energy related improvements; designating requisitioning authority; and recognizing an emergency.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Director of Finance is authorized to accept the proposal of G.E. Capital Public Finance, Inc., for financing energy related capital equipment through a lease purchase agreement and the Director of Finance is authorized to execute, in the name of the City, any and all documents and agreements necessary to complete such financing.

 

Section 2. That the revenue in the following account of the Equipment Lease Capital Acquisition Fund is hereby estimated in the following amount:

 

98-323-012-8300 Reimbursement from Bank or Lease Co. $8,400,000.00

 

Section 3. That the sum of $8,400,000.00 is hereby appropriated from the Unappropriated Fund Balance of the Equipment Lease Capital Acquisition Fund:

 

98-323-063-7220T Energy Improvements Lease Purchase $8,400,000.00

 

Section 4. That the Director of the Convention and Entertainment Centers Department is hereby designated as the requisitioning authority for Account No. 98-323-063-7220.

 

__________________________________________________________________

 

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.

 

 

____________________________________

Director of Finance

 

Approved as to form and legality:

 

 

___________________________________

Assistant City Attorney