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Legislation #: 030176 Introduction Date: 2/13/2003
Type: Ordinance Effective Date: 3/2/2003
Sponsor: None
Title: Declaring the City intent to reimburse itself in the 100 Fund for capital improvement expenditures up to a maximum of $1,500,000.00 with bond proceeds; authorizing three amendments totaling $1,500,000.00 with Superior Bowen Asphalt Co. ($1,000,000.00) and J.M. Fahey Construction Company ($500,000.00) for road resurfacing for north and south of Independence Avenue and north and south of 55th Street; reducing an appropriation in the amount of $1,500,000.00 in the General Fund; appropriating it to the Street Resurfacing account of the General Fund; and authorizing the Director of Public Works to expend $1,500,000.00 for the contract amendments.

Legislation History
DateMinutesDescription
2/13/2003

Waive Charter Requirements City Council

2/13/2003

Prepare to Introduce

2/13/2003

Referred Finance and Audit Committee

2/19/2003

Advance and Do Pass

2/20/2003

Passed


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ORDINANCE NO. 030176

 

Declaring the Citys intent to reimburse itself in the 100 Fund for capital improvement expenditures up to a maximum of $1,500,000.00 with bond proceeds; authorizing three amendments totaling $1,500,000.00 with Superior Bowen Asphalt Co. ($1,000,000.00) and J.M. Fahey Construction Company ($500,000.00) for road resurfacing for north and south of Independence Avenue and north and south of 55th Street; reducing an appropriation in the amount of $1,500,000.00 in the General Fund; appropriating it to the Street Resurfacing account of the General Fund; and authorizing the Director of Public Works to expend $1,500,000.00 for the contract amendments.

 

WHEREAS, Kansas City, Missouri (the City) is a political subdivision organized and existing under the Constitution and the laws of the State of Missouri; and

 

WHEREAS, the City may have incurred certain expenditures within the last 60 days and expects to incur expenditures on and after the date hereof (the Expenditures) which have been or will be paid from the 100 Fund, an account maintained by the City for the purpose of funding capital improvement projects, which Expenditures will be used to pay certain construction, engineering and administration costs for street resurfacing projects (the Projects); and

 

WHEREAS, the City has determined that the funds to pay these Expenditures with respect to the Projects are or will be available for a temporary period and it is necessary to reimburse the City for these Expenditures from the proceeds of certain general obligation bonds expected to be issued by the City in fiscal year 2004 (the Bonds); and

 

WHEREAS, as of the date hereof, there are no funds from sources other than the proceeds of the Bonds that are, or are reasonably expected to be reserved, allocated on a long-term basis, or otherwise set aside by the City pursuant to its budget or financial policy with respect to these Expenditures; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the City declares the intent to reimburse itself for certain Expenditures made within 60 days prior to or on and after the date hereof with respect to the Projects with proceeds from the Bonds to be issued for the Projects up to a maximum of $1,500,000.00.

 

Section 2. That this Ordinance shall constitute a declaration of official intent under Treasury Regulation Section 1.150-2.

 

Section 3. That the Expenditures for which the City will reimburse itself pursuant to this Ordinance are original expenditures as defined in Treasury Regulation Section 1.150-2(c), which qualify under Treasury Regulation Section 1.150-02(d)(3).

 

Section 4. That the passage of this Ordinance is consistent with the budgetary and financial


circumstances of the City.

 

Section 5. That the Director of Public Works is hereby authorized to enter into and execute, on behalf of the City, an amendment to Contract No. 020014, Resurfacing 02-1, with Superior Bowen Asphalt Co., a Missouri corporation, in the amount of $500,000.00 for a total contract amount of $3,748,582.16 for resurfacing north of Independence Avenue in Kansas City, Missouri, Project No. 1364. A copy of the contract and amendment is on file in the office of the Director of Public Works and is hereby authorized and provided for.

 

Section 6. That the Director of Public Works is hereby authorized to enter into and execute, on behalf of the City, an amendment to Contract No. 020015, Resurfacing 02-2, with Superior Bowen Asphalt Co., a Missouri corporation, in the amount of $500,000.00 for a total contract amount of $3,191,081.80 for resurfacing south of Independence Avenue and north of 55th Street in Kansas City, Missouri, Project No. 1364. A copy of the contract and amendment is on file in the office of the Director of Public Works and is hereby authorized and provided for.

 

Section 7. That the Director of Public Works is hereby authorized to enter into and execute, on behalf of the City, an amendment to Contract No. 020016, Resurfacing 02-3, with J. M. Fahey Construction company, a Missouri corporation, in the amount of $500,000.00 for a total contract amount of $3,467,745.03 for resurfacing south of 55th Street in Kansas City, Missouri, Project No. 1364. A copy of the contract and amendment is on file in the office of the Director of Public Works and is hereby authorized and provided for.

 

Section 8. That the appropriation in the following account of the General Fund is hereby reduced by the following amount:

 

03-100-089-7702-T Bridge Rehabilitation $1,500,000.00

 

Section 9. That the sum of $1,500,000.00 is hereby appropriated from the Unappropriated Fund Balance of the General Fund to the following account in the General Fund:

 

03-100-089-7701-T Street Resurfacing $1,500,000.00

 

Section 10. That the Director of Public Works is hereby authorized to expend the sum of $1,500,000.00 from funds heretofore appropriated to Account No. 03-100-089-7701-T for work to be performed under the aforesaid amendments to Contract Nos. 020014, 020015 and 020016.

 

_____________________________________________

 

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