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Legislation #: 060597 Introduction Date: 5/25/2006
Type: Ordinance Effective Date: none
Sponsor: None
Title: Naming Fund No. 3270; estimating revenues from bond proceeds and other sources of funds in Fund No. 5230, the Equipment Lease Debt Service Fund in the amount of $3,775,221.00, and Fund No. 3270, the IDA Refunding and Improvement Revenue Project Fund Series 2006C in the amount of $3,387,482.00 and appropriating the same; appropriating an additional $216,000.00 in Fund No. 5230 for debt service; designating requisitioning authorities; and authorizing the Director of Finance to close project accounts upon project completion.

Legislation History
DateMinutesDescription
5/25/2006 Filed by the Clerk's office
5/25/2006 Referred to Finance and Audit Committee
5/31/2006 Advance and Do Pass, Debate
6/8/2006 Passed

View Attachments
FileTypeSizeDescription
060597.pdf Authenticated 164K Authenticated
Civic Mall e_a approp v1.xls Other 491K Appropriations
Civic Mall e_a fiscal note.xls Fiscal Note 42K Fiscal Note
Civic Mall e_a factsheet.xls Fact Sheet 44K Fact Sheet

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ORDINANCE NO. 060597

 

Naming Fund No. 3270; estimating revenues from bond proceeds and other sources of funds in Fund No. 5230, the Equipment Lease Debt Service Fund in the amount of $3,775,221.00, and Fund No. 3270, the IDA Refunding and Improvement Revenue Project Fund Series 2006C in the amount of $3,387,482.00 and appropriating the same; appropriating an additional $216,000.00 in Fund No. 5230 for debt service; designating requisitioning authorities; and authorizing the Director of Finance to close project accounts upon project completion.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Fund No. 3270 is hereby named the IDA Refunding and Improvement Revenue Project Fund Series 2006C in the records of the City of Kansas City, Missouri.

Section 2. That the sum of $ 897,296.00 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 3270, the IDA Refunding and Improvement Revenue Project Fund Series 2006C, to the following account:

 

AL-3270-129611-B Debt Service Reserve $ 897,296.00

 

Section 3. That the appropriation in the following account of Fund No. 3270, the IDA Refunding and Improvement Revenue Bond Fund Series 2006C is hereby reduced by the following amount:

 

AL-3270-129611-B Debt Service Reserve $ 897,296.00

 

Section 4. That the sum of $897,296.00 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 3270, the IDA Refunding and Improvement Revenue Project Fund Series 2006C to the following account:

 

AL-3270-129998-905230 Transfer to Eq. Lease Debt Service Fund $ 897,296.00

 

Section 5. That the revenue in the following accounts of Fund No. 5230 the Equipment Lease Debt Service Fund is hereby estimated in the following amounts:

 

07-5230-120000-590000 Proceeds from Sale of Bonds $2,790,000.00

07-5230-120000-485100 Premium on Bonds Sold 87,925.00

07-5230-120000-503270 Transfer from IDA Refunding & Imp Fund 897,296.00

TOTAL $3,775,221.00


Section 6. That the sum of $3,775,221.00 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 5230 the Equipment Lease Debt Service Fund to the following accounts:

 

07-5230-129620-B Bond Issue Expense $ 62,725.00

07-5230-129631-B Underwriter Discount 8,231.00

07-5230-129632-B Original Issue Discount 2,615.00

07-5230-129671-B Defeasance of MDFB Series 1995 3,701,650.00

TOTAL $3,775,221.00

 

Section 7. That the sum of $100,170.00 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 5230 the Equipment Lease Debt Service Fund to the following account:

 

07-5230-129671-B Defeasance of MDFB Series 1995 $ 100,170.00

 

Section 8. That the revenue in the following accounts of Fund No. 3270, IDA Refunding and Improvement Revenue Bond Fund Series 2006C is hereby estimated in the following amounts:

 

AL-3270-120000-590000 Proceeds from Sale of Bonds $3,295,000.00

AL-3270-120000-485100 Premium on Bonds Sold 92,482.00

TOTAL $3,387,482.00

 

Section 9. That the sum of $3,387,482.00 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 3270, the IDA Refunding and Improvement Revenue Project Fund Series 2006C to the following accounts:

 

AL-3270-129620-B Bond Issue Expense $ 74,774.00

AL-3270-129631-B Underwriter Discount 9,720.00

AL-3270-1296 32- B Original Issue Discount 2,988.00

AL-3270-129998-X Transfer to Capital Improvement Funds 100,000.00

AL-3270-646219-B Acquisition and Demolition 3,200,000.00

TOTAL $3,387,482.00

 

Section 10. That the revenue in the following accounts of Fund No. 3090, Capital Improvements Fund is hereby estimated in the following amount:

 

09-3090-120000-503270 Trf from IDA Refunding and Imp Fund $ 100,000.00

 

Section 11. That the sum of $100,000.00 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 3090, the Capital Improvements Fund to the following account:

 

07-3090-647228-B Town of Kansas $ 100,000.00

 

Section 12. That the sum of $425,000.00 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 5230, the Equipment Lease Debt Service Fund to the following account:

 

07-5230-129998-X Transfer to IDA Refunding and Imp Fund $ 425,000.00

 

Section 13. That the revenue in the following accounts of Fund No. 3270, IDA Refunding and Improvement Revenue Bond Fund Series 2006C is hereby estimated in the following amount:

 

AL-3270-120000-505230 Transfer from Eq. Lease Debt Service $ 425,000.00

 

Section 14. That the sum of $425,000.00 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 3270, the IDA Refunding and Improvement Revenue Project Fund Series 2006C to the following account:

 

AL-3270-646219-B Demolition $ 425,000.00

 

Section 15. That the sum of $216,000.00 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 5230 the Equipment Lease Debt Service Fund to the following accounts

 

07-5230-129715-G Debt Service $ 216,000.00

 

Section 16. That the Director of Finance is hereby designated as requisitioning authority for Account Nos. AL-3270-129611-B, AL-3270-129998-905230, 07-5230-129620-B, 07-5230-129631-B, 07-5230-129632-B, 07-5230-129671-B, AL-3270-129620-B, AL-3270-129631-B, AL-3270-129632-B, AL-3270-129998-903090, 07-5230-129998-903270, and 07-5230-129715-G; and that the Director of City Development is recognized as requisitioning authority for Account Nos. AL-3270-646219-B-64CHERRYST and 07-3090-647228-B.

 

Section 17. 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.

 

_____________________________________________

 


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.

 

 

___________________________________

Debra R. Hinsvark

Director of Finance

 

Approved as to form and legality:

 

 

___________________________________

Heather A. Brown

Assistant City Attorney