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Legislation #: 100351 Introduction Date: 4/22/2010
Type: Ordinance Effective Date: 4/22/2010
Sponsor: None
Title: Renaming Fund No. 3455 as the “2008B and 2010A KCMO Special Obligation Fund”; estimating and appropriating revenues in the amount of $532,242.00 in that fund; estimating total of $378,145.00 in trustee interest earnings and appropriating it; establishing Fund No. 5401, the Refunding Bond Fund; appropriating $177,062.00 from the Unappropriated Fund Balance of the KCMAC 11th _ Oak Garage/Streetlight Bond Fund; appropriating $1,039,964.00 from the Unappropriated Fund Balance of the KCMAC 11th _ Oak Garage/Streetlight Bond for transfer to the Refunding Bond Fund; appropriating $301,822.00 from the Unappropriated Fund Balance of the KCMAC Leasehold 2001-B1 Bond Fund for various projects; appropriating the following amounts from the Unappropriated Fund Balances of the following funds: $3,437,693.00 (KCMAC Leasehold 2001-B1 Bond Fund), $350,045.00 (STIF Valentine Fund), $1,498,159.00 (Equipment Lease Debt Service Fund), all for transfer to the Refunding Bond Fund; estimating and appropriating $35,870,528.00 in the Refunding Bond Fund to the appropriate bond accounts; estimating revenue in the amount of $3,687,000.00 in the STIF 12th and Wyandotte Fund and appropriating $374,000.00 for debt service reserve; designating requisitioning authorities; authorizing the Director of Finance to close project accounts upon completion; and recognizing an emergency.

Legislation History
DateMinutesDescription
4/22/2010 Filed by the Clerk's office
4/22/2010 Referred to Finance and Audit Committee
4/28/2010 Advance and Do Pass, Debate
4/29/2010 Passed

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100351.pdf Authenticated 271K AUTHENTICATED
fiscal_notes-Sp_Ob_E___A_ordinance_(revised)(2)-PLEASE USE THIS VERSION.xlsx Fiscal Note 30K fiscal note-corrected. Please use this version
Special Obligation Bonds - summary table v2.docx Other 15K Summary Table
2010 Estimation and Appropriation Ordinance Fact Sheet v2.xlsx Fact Sheet 28K Factsheet
http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=100351 Video Link 0K http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=100351
Approp Admin E Av1.xlsx Other 64K Appropriation and Admin Accounting Form
fiscal notes-Sp Ob E A ordinance (revised).xlsx Fiscal Note 30K Fiscal Note

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ORDINANCE NO. 100351

 

Renaming Fund No. 3455 as the “2008B and 2010A KCMO Special Obligation Fund”; estimating and appropriating revenues in the amount of $532,242.00 in that fund; estimating total of $378,145.00 in trustee interest earnings and appropriating it; establishing Fund No. 5401, the Refunding Bond Fund; appropriating $177,062.00 from the Unappropriated Fund Balance of the KCMAC 11th & Oak Garage/Streetlight Bond Fund; appropriating $1,039,964.00 from the Unappropriated Fund Balance of the KCMAC 11th & Oak Garage/Streetlight Bond for transfer to the Refunding Bond Fund; appropriating $301,822.00 from the Unappropriated Fund Balance of the KCMAC Leasehold 2001-B1 Bond Fund for various projects; appropriating the following amounts from the Unappropriated Fund Balances of the following funds: $3,437,693.00 (KCMAC Leasehold 2001-B1 Bond Fund), $350,045.00 (STIF Valentine Fund), $1,498,159.00 (Equipment Lease Debt Service Fund), all for transfer to the Refunding Bond Fund; estimating and appropriating $35,870,528.00 in the Refunding Bond Fund to the appropriate bond accounts; estimating revenue in the amount of $3,687,000.00 in the STIF 12th and Wyandotte Fund and appropriating $374,000.00 for debt service reserve; designating requisitioning authorities; authorizing the Director of Finance to close project accounts upon completion; and recognizing an emergency.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That Fund No. 3455, the 2008B KCMO Special Obligation Bond Fund, is hereby renamed as “the 2008B and 2010A KCMO Special Obligation Bond Fund,” in the records of the City of Kansas City, Missouri.

 

Section 2. That the revenue in the following accounts of Fund No. 3455, the 2008B and 2010A KCMO Special Obligation Bond Fund, are hereby increased in the following amounts:

 

AL-3455-120000-590000 Proceeds from Sale of Bonds $ 519,303.00

AL-3455-120000-485100 Reoffering Premium on Bonds Sold 12,939.00

TOTAL $ 532,242.00

 

Section 3. That the sum of $532,242.00 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 3455, the 2008B and 2010A KCMO Special Obligation Bond Fund, to the following accounts:

 

AL-3455-129620-B Bond Issue Expense $ 18,159.00

AL-3455-129686-B Arbitrage Rebate Calculation 5,000.00

AL-3455-129631-B Underwriter Discount on Sale of Bonds 32,818.00

AL-3455-129632-B Original Issue Discount 66,046.00

AL-3455-129611-B Debt Service Reserve 410,219.00

TOTAL $ 532,242.00

 

Section 4. That the appropriation in the following accounts of Fund No. 3980, the KCMAC 11th & Oak Garage/Streetlight Bond Fund, is hereby reduced by the following amounts:

 

AL-3980-129611-B Debt Service Reserve $ 766,849.00

AL-3980-129620-B Bond Issue Expense 7,104.00 TOTAL $ 773,953.00

 

Section 5. That revenue in the following amount is estimated in the following account of Fund No. 3980, the KCMAC 11th & Oak Garage/Streetlight Bond Fund:

 

AL-3980-120000-460100 Estimated Interest Trustee $ 377,828.00

 

Section 6. That the Fund No. 5401, the Refunding Bond Fund, is hereby established, in the records of the City of Kansas City, Missouri.

 

 

Section 7. That $177,062.00 is appropriated from the Unappropriated Fund Balance of the Fund No. 3980, the KCMAC 11th & Oak Garage/Streetlight Bond Fund to the following accounts:

 

AL-3980-129998-X Transfer to Fund 5230 $ 176,925.00

AL-3980-898822-B Building CD2 137.00 TOTAL $ 177,062.00

 

Section 8. That $1,039,964.00 is appropriated from the Unappropriated Fund Balance of the Fund No. 3980, the KCMAC 11th & Oak Garage/Streetlight Bond Fund, to the following account:

 

AL-3980-129998-X Transfer to Fund 5401 $1,039,964.00

Section 9. That revenue in the following amount is estimated in the following account of Fund No. 3800, the KCMAC Leasehold 2001-B1 Fund:

 

AL-3800-120000-460100 Estimated Interest Trustee $ 213.00

 

Section 10. That the appropriation in the following accounts of Fund No. 3800, the KCMAC Leasehold 2001-B1 Bond Fund, is hereby reduced by the following amounts:

 

AL-3800-129611-B Debt Service Reserve $2,020,500.00

AL-3800-129620-B Bond Issue Expense 41,879.00

AL-3800-897000-B Capital Improvement Reserve 2,423,656.00

AL-3800-897532-B Fairyland Park Redevelopment 859,310.00 TOTAL $5,345,345.00

 

Section 11. That $301,822.00 is appropriated from the Unappropriated Fund Balance of the Fund No. 3800, the KCMAC Leasehold 2001-B1 Bond Fund, to the following account:

 

AL-3800-129998-X Transfer to Fund 5230 $ 173,332.00

AL-3800-647106-B Maplewoods Pkwy Prospect North 17,367.00

AL-3800-897254-B N Congress/Barry Road To M-152 111,123.00 TOTAL $ 301,822.00

 

Section 12. That $3,437,693.00 is appropriated from the Unappropriated Fund Balance of the Fund No. 3800, the KCMAC Leasehold 2001-B1 Bond Fund to the following account:

 

AL-3800-129998-X Transfer to Fund 5401 $3,437,693.00

 

Section 13. That the appropriation in the following account of Fund No. 3890, the KCMAC Leasehold 2001-B2 Bond Fund, is hereby reduced by the following amounts:

 

AL-3890-129611-B Debt Service Reserve $ 54,000.00

AL-3890-129620-B Bond Issue Expense 4,429.00

AL-3890-647107-B Maplewood Prospect N B2 1,767.00

TOTAL $ 60,196.00

 

Section 14. That revenue in the following amount is estimated in the following account of Fund No. 5200, the STIF Valentine Fund:

 

10-5200-120000-460100 Estimated Interest Trustee $ 45.00

 

Section 15. That $350,000.00 is appropriated from the Unappropriated Fund Balance of Fund No. 5200, the STIF Valentine Fund, to the following account:

 

10-5200-129611-B Debt Service Reserve $ 350,000.00

 

Section 16. That the appropriation in the following account of Fund No. 5200, the STIF Valentine Fund, is hereby reduced by the following amount:

 

10-5200-129611-B Debt Service Reserve $ 350,000.00

 

Section 17. That $350,045.00 is appropriated from the Unappropriated Fund Balance of Fund No. 5200, the STIF Valentine Fund to the following account:

 

10-5200-129998-X Transfer to Fund 5401 $ 350,045.00

Section 18. That revenue in the following amount is estimated in the following account of Fund No. 5230 the Equipment Lease Debt Service Fund:

 

10-5230-120000-460100 Estimated Interest Trustee $ 59.00

 

Section 19. That $1,498,100.00 is appropriated from the Unappropriated Fund Balance of Fund No. 5230, the Equipment Lease Debt Service Fund to the following account:

 

10-5230-129611-B Debt Service Reserve $1,498,100.00

 

Section 20. That the appropriation in the following account of Fund No. 5230, the Equipment Lease Debt Service Fund, is hereby reduced by the following amount:

 

10-5230-129611-B Debt Service Reserve $1,498,100.00

 

Section 21. That $1,498,159.00 is appropriated from the Unappropriated Fund Balance of Fund No. 5230, the Equipment Lease Debt Service Fund to the following account:

 

10-5230-129998-X Transfer to Fund 5401 $1,498,159.00

 

 

Section 22. That the revenue in the following accounts of Fund Number 5401, the Refunding Bond Fund, is hereby estimated in the following amounts:

 

AL-5401-120000-590000 Proceeds from Sale of Bonds $28,553,000.00

AL-5401-120000-485100 Reoffering Premium on Bonds Sold 166,167.00

AL-5401-120000-503980 Transfer from Fund No. 3980 1,039,964.00

AL-5401-120000-503800 Transfer from Fund No. 3800 3,437,693.00

AL-5401-120000-481000 Miscellaneous Contribution 825,500.00

AL-5401-120000-505200 Transfer from Fund No. 5200 350,045.00

AL-5401-120000-505230 Transfer from Fund No. 5230 1,498,159.00

TOTAL $35,870,528.00

 

Section 23. That the sum of $35,870,528.00 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 5401, the Refunding Bond Fund, to the following accounts:

 

AL-5401-129620-B Bond Issue Expense $ 264,403.00

AL-5401-129686-B Arbitrage Rebate Calculation 5,000.00

AL-5401-129631-B Underwriter Discount on Sale of Bonds 161,037.00

AL-5401-129632-B Original Issue Discount 139,521.00

AL-5401-129611-B Debt Service Reserve Fund 304,500.00

AL-5401-129611-B Debt Service Reserve Fund 1,389,500.00

AL-5401-129611-B Debt Service Reserve Fund 294,000.00

AL-5401-129611-B Debt Service Reserve Fund 189,000.00

AL-5401-129611-B Debt Service Reserve Fund 673,000.00

AL-5401-129671-B Defeasance of LCRA Series 1996A 3,742,830.00

AL-5401-129671-B Defeasance of KCMAC Series 1999A 15,731,096 .00

AL-5401-129671-B Defeasance of KCMAC Series 2001B-1 3,477,242.00

AL-5401-129671-B Defeasance of MDFB Series 1998 2,025,428.00

AL-5401-129671-B Defeasance of PIEA Series 1998 7,473,971.00

Total $35,870,528.00


Section 24. That the revenue in the following account of Fund No. 5170, the STIF 12th and Wyandotte Fund, is hereby increased in the following amount:

 

10-5170-120000-590000 Proceeds from Sale of Bonds $3,687,000.00

Section 25. That the sum of $374,000.00 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 5170, the STIF 12th and Wyandotte Fund, to the following account:

 

10-5170-129611-B Debt Service Reserve $ 374,000.00

 

Section 26. That the Director of Finance is hereby designated as the requisitioning authority for Account Nos. AL-3455-129611-B, AL-3980-129998-X, AL-3800-129998-X, 10-5200-129611-B, 10-5200-129998-X, 10-5230-129611-B, 10-5230-129998-X, AL-5401-129620-B, AL-5401-129686-B, AL-5401-129631-B, AL-5401-129632-B, AL-5401-129611-B, AL-5401-129671-B and 10-5170-129611-B.

 

Section 27. That the Director of Finance is hereby authorized to close project accounts upon project completion and return the unspent portion of the appropriation to the Fund Balance from which it came in Fund No. 3980, the KCMAC 11th & Oak Garage/Streetlight Bond Fund, Fund No. 3800, the KCMAC Leasehold 2001-B1 Bond Fund and Fund No. 3890, the KCMAC Leasehold 2001-B2 Bond Fund.

Section 28. That this ordinance is recognized as an emergency measure within the provisions of Section 503(a)(3)(c) of the City Charter in that it appropriates money and shall take effect in accordance with that section.

 

_____________________________________________

 

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.

 

 

___________________________________

Randall J. Landes

Director of Finance

 

Approved as to form and legality:

 

 

___________________________________

Heather A. Brown

Assistant City Attorney