ORDINANCE NO. 940113

Authorizing an Escrow Agreement with the Missouri Highway and Transportation Commission and Commerce Bank of Kansas City, N.A., a national banking association, relating to improvement of Missouri Route 150 from State Line Road to Holmes Road.

WHEREAS, the Council finds that the City has entered into a Cooperative Agreement for public improvement with the Missouri Highway and Transportation Commission on November 16, 1992, as authorized by Ordinance No. 921209, passed November 5, 1992, wherein the City agrees that upon approval of all agreements, plans and specifications, Commission will proceed to acquire, in the name of the City, any necessary right-of-way required for the construction of the improvement; and, as the impending Grantee in the deed to this property it is required that the City be party to the said Escrow Agreement; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the Director of Public Works is hereby authorized to enter into and execute, on behalf of the City, an Escrow Agreement between the Missouri Highway and Transportation Commission, the City of Kansas City, a municipal corporation of the State of Missouri, and Commerce Bank of Kansas City, N.A., a national banking association, relating to the improvement of Missouri Route 150 from State Line Road to Holmes Road, in Kansas City, Missouri. The agreement shall be essentially in the form which is attached and incorporated herein by reference.

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Approved as to form and legality:

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Assistant City Attorney