Printer Friendly Version
COMMITTEE SUBSTITUTE FOR RESOLUTION NO. 020297
Stating
the Councils intention to submit to the voters at the August 6, 2002 election,
a proposition to issue general obligation bonds in the approximate par amount
of $35 million to be used for the Citys capital improvement program.
WHEREAS,
the issuance of $35 million in general obligation bonds is not anticipated to
require an increase in the property tax levy for general debt service of 14
cents per $100 assessed valuation; and
WHEREAS,
the Council has studied many options for additional funding for capital
improvements and, having considered a number of factors, including the
favorable bond market, believes that a proposal should be submitted to the
voters for their approval as soon as possible; and
WHEREAS,
the Council intends to continue the role of the Public Improvements Advisory
Committee in the recommendation of the capital improvements and deferred
maintenance to be funded with proceeds from general obligation bonds, should
the voters approve the proposition at the August 6, 2002, election; NOW,
THEREFORE,
BE
IT RESOLVED BY THE COUNCIL OF KANSAS CITY:
Section
1. That the Council hereby states its intention to submit to the voters for
their approval at the August 6, 2002 election, a proposition to issue general
obligation bonds in the approximate par amount of $35 million to be used for
the Citys capital improvement program consistent with the Community
Infrastructure Committee recommendations and further states its intention to
continue the role of the Public Improvements Advisory Committee in the
recommendation of capital improvements and deferred maintenance to be funded
with the bond proceeds.
___________________________________