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Legislation #: 160968 Introduction Date: 12/15/2016
Type: Ordinance Effective Date: none
Sponsor: None
Title: Establishing the 2017A Water Revenue Project Fund; estimating revenues in the amount of $50,000,000.00 in the 2017A Water Revenue Project Fund and appropriating the same; designating requisitioning authority; and declaring the City’s intent to reimburse itself from bond proceeds.

Legislation History
DateMinutesDescription
12/15/2016 Filed by the Clerk's office
12/15/2016 Referred to Finance and Governance Committee
12/21/2016 Advance and Do Pass, Debate
12/22/2016 Passed

View Attachments
FileTypeSizeDescription
160968.pdf Authenticated 79K Authenticated
Water Bond Approp Operational Programmatic Fiscal Note.pdf Fiscal Note 16K 169068 Fiscal Note 122016
160968 Approp Admin-Water Bond.pdf Other 37K 160968 Approp & Admin
160968 Fact Sheet-Water Bond.pdf Fact Sheet 49K 160968 Fact Sheet

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ORDINANCE NO. 160968

 

Establishing the 2017A Water Revenue Project Fund; estimating revenues in the amount of $50,000,000.00 in the 2017A Water Revenue Project Fund and appropriating the same; designating requisitioning authority; and declaring the City’s intent to reimburse itself from bond proceeds.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That Fund No. 8076, 2017A Water Revenue Project Fund, is hereby established in the records of the City of Kansas City, Missouri.

 

Section 2. That the revenue in the following account of the Fund No. 8076, 2017A Water Revenue Project Fund, is hereby estimated in the following amount:

 

AL-8076-120000-590000 Proceeds from Sale of Bonds $50,000,000.00

 

Section 3. That the sum of $50,000,000.00 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 8076, 2017A Water Revenue Project Fund, to the following account:

 

AL-8076-807705-B-80BUDGET Water Main Repl $50,000,000.00

 

Section 4. That the Director of the Water Services Department is hereby designated as requisitioning authority for Account No. AL-8076-807705.

 

Section 5. That the City Council hereby declares its official intent to reimburse itself for certain expenditures made within sixty (60) days prior to or on and after the date of this ordinance with respect to improvements made from or properly chargeable to the 2017A Water Revenue Fund for capital improvements to the City’s water system (the “Project”) with the proceeds of bonds expected to be issued by the City.  The maximum principal amount of bonds expected to be issued for the Project is not to exceed $90,000,000.00.  This constitutes a declaration of official intent under Treasury Regulation 1.150-2.

 

 

_____________________________________________

 


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:

 

 

___________________________________

Mark P. Jones

Assistant City Attorney