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Legislation #: 090327 Introduction Date: 4/23/2009
Type: Ordinance Effective Date: 4/30/2009
Sponsor: None
Title: Completing the reissuance and refunding of various variable rate demand bonds of the City of Kansas City, Missouri; estimating revenues in the amount of $7,508,725.00 in Fund No. 5310, the STIF Tower 909 Walnut Debt Fund for the Special Obligation Refunding Bonds (909 Walnut Parking Facility Project) Series 2009A Bonds; estimating revenues in the amount of $180,620,000.00 in the Fund No. 5320, the Kansas City Downtown Redevelopment District Debt Fund; estimating revenues in the amount of $17,400,000.00 in Fund No. 5260, the STIF Hotel President Fund for the Special Obligation Refunding Bonds (Hotel President Project), Series 2009B; estimating revenues in the amount of $12,245,000.00 in Fund No. 5230, the Equipment Lease Debt Service Fund for the Special Obligation Refunding Bonds (Chouteau Project), Series 2009C and 2009D, appropriating the same, designating requisitioning authorities; and recognizing an emergency.

Legislation History
DateMinutesDescription
4/22/2009 Filed by the Clerk's office
4/23/2009 Referred to Finance and Audit Committee
4/29/2009 Advance and Do Pass, Debate
4/30/2009 Passed

View Attachments
FileTypeSizeDescription
090327.pdf Authenticated 137K AUTHENTICATED
http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=090327 Video Link 0K http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=090327
909 Walnut E A Worksheet v2.xls Other 490K Revised Admin & Approp Worksheet
Chouteau, President Hotel ordinance_e a fact_sheet_v3.xls Advertise Notice 54K Fact Sheet-President Hotel and Chouteau
909 Walnut E A Worksheet.xls Other 490K Admin & Approp Worksheet
fiscal notes-Chouteau, President Hotel, 909 Walnut KC Live.xls Fiscal Note 60K Fiscal Note
909 Walnut E A Fact Sheet.xls Fact Sheet 56K Fact Sheet-909 Walnut
KC LIVE e a fact_sheet_v2.xls Fact Sheet 53K Fact Sheet-KC LIVE

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ORDINANCE NO. 090327

 

Completing the reissuance and refunding of various variable rate demand bonds of the City of Kansas City, Missouri; estimating revenues in the amount of $7,508,725.00 in Fund No. 5310, the STIF Tower 909 Walnut Debt Fund for the Special Obligation Refunding Bonds (909 Walnut Parking Facility Project) Series 2009A Bonds; estimating revenues in the amount of $180,620,000.00 in the Fund No. 5320, the Kansas City Downtown Redevelopment District Debt Fund; estimating revenues in the amount of $17,400,000.00 in Fund No. 5260, the STIF Hotel President Fund for the Special Obligation Refunding Bonds (Hotel President Project), Series 2009B; estimating revenues in the amount of $12,245,000.00 in Fund No. 5230, the Equipment Lease Debt Service Fund for the Special Obligation Refunding Bonds (Chouteau Project), Series 2009C and 2009D, appropriating the same, designating requisitioning authorities; and recognizing an emergency.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the revenue in the following accounts of Fund No. 5310, the STIF Tower 909 Walnut Debt Fund is hereby estimated in the following amounts:

 

09-5310-120000-590000 Proceeds from Sale of Bonds $7,490,000.00

09-5310-120000-483400 Resources from Trustee 18,725.00

TOTAL $7,508,725.00

Section 2. That the sum of $7,508,725.00 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 5310, the STIF Tower 909 Walnut Debt Fund to the following accounts:

 

09-5310-129671-G Defeasance of Bonds (Series 2005) $ 7,257,374.00

09-5310-129620-B Bond Issue Expense 137,403.00

09-5310-129638-G Debt Service 98,649.00

09-5310-129631-B Underwriter Discount 15,299.00

TOTAL $ 7,508,725.00

 

Section 3. That the revenue in the following account of Fund No. 5320 the Kansas City Downtown Redevelopment District Debt Fund, is hereby estimated in the following amount:

 

09-5320-120000-590000 Proceeds from Sale of Bonds $180,620,000.00


Section 4. That the sum of $180,620,000.00 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 5320, the Kansas City Downtown Redevelopment District Debt Fund, to the following accounts:

 

09-5320-129620-B Bond Issue Expense $ 635,000.00

09-5320-129671-G Defeasance of IDA Series 2005B, 2006A

& 2006B 179,985,000.00

TOTAL $180,620,000.00

 

Section 5. That the revenue in the following account of Fund No. 5260 the STIF Hotel President Fund, is hereby estimated in the following amount:

 

09-5260-120000-590000 Proceeds from Sale of Bonds $17,400,000.00

Section 6. That the sum of $17,400,000.00 is hereby appropriated from the Unappropriated Fund Balance of Fund Number 5260, the STIF Hotel President Fund, to the following accounts:

 

09-5260-129620-B Bond Issue Expense $ 242,600.00

09-5260-129631-B Underwriter Discount 17,400.00

09-5260-129671-G Defeasance of TIF Commission Series 2004 17,140,000.00 TOTAL $17,400,000.00

 

Section 7. That the revenue in the following account of Fund No. 5230 the Equipment Lease Debt Service Fund, is hereby estimated in the following amount:

 

09-5230-120000-590000 Proceeds from Sale of Bonds $12,245,000.00

Section 8. That the sum of $12,245,000.00 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 5230, the Equipment Lease Debt Service Fund, to the following accounts:

 

09-5230-129620-B Bond Issue Expense $ 237,755.00

09-5230-129631-B Underwriter Discount 12,245.00

09-5230-129671-G Defeasance of TIF Commission Series

2003A, 2003B 11,995,000.00

TOTAL $12,245,000.00

Section 9. That the Director of Finance is hereby designated as the requisitioning authority for Account Nos. 09-5310-129671, 09-5310-129620, 09-5310-129638, 09-5310-129631, 09-5320-129620, 09-5320-129671, 09-5260-129620, 09-5260-129631, 09-5260-129671, 09-5230-129620, 09-5230-129631, and 09-5230-129671.

 


Section 10. This Ordinance is recognized as an emergency measure within the provisions of Section 503(a)(3)(f) 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.

 

 

___________________________

Jeffrey A. Yates

Director of Finance

 

Approved as to form and legality:

 

 

_____________________________

Heather A. Brown

Assistant City Attorney