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Legislation #: 180459 Introduction Date: 6/14/2018
Type: Ordinance Effective Date: none
Sponsor: None
Title: Appropriating $2,513,765.42 from the Unappropriated Fund Balance of the Sanitary Sewer Fund (Fund No. 8110); estimating and appropriating $50,000.00 in the Sanitary Sewer Project Fund Series 2009A (Fund No. 8183); estimating $ 49,824,416.22 in the Sewer 2018 Revenue Project and Refunding Fund (Fund No. 8188); appropriating $54,832,753.72 from the Unappropriated Fund Balance of the Sewer 2018 Revenue Project and Refunding Fund (Fund No. 8188); designating requisitioning authority; authorizing the Director of Finance to close project accounts; and declaring the City’s intent to reimburse itself from bond proceeds.

Legislation History
DateMinutesDescription
6/13/2018 Filed by the Clerk's office
6/14/2018 Referred to Finance and Governance Committee
7/11/2018 Advance and Do Pass, Debate
7/12/2018 Passed

View Attachments
FileTypeSizeDescription
180459.pdf Authenticated 84K Authentication
180459 Accounting Form.pdf Other 211K Document
180459-Correct Fact Sheet.pdf Fact Sheet 68K Fact Sheet
180459 Ordinance.pdf Other 51K 180459 Ordinance
180459 Fiscal Note v2.pdf Fiscal Note 15K Fiscal Note
180459 Copy of Approp Admin Form-Sewer Revenue Bonds.pdf Other 14K Appropriation

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ORDINANCE NO. 180459

 

Appropriating $2,513,765.42 from the Unappropriated Fund Balance of the Sanitary Sewer Fund (Fund No. 8110); estimating and appropriating $50,000.00 in the Sanitary Sewer Project Fund Series 2009A (Fund No. 8183); estimating $ 49,824,416.22 in the Sewer 2018 Revenue Project and Refunding Fund (Fund No. 8188); appropriating $54,832,753.72 from the Unappropriated Fund Balance of the Sewer 2018 Revenue Project and Refunding Fund (Fund No. 8188); designating requisitioning authority; authorizing the Director of Finance to close project accounts; and declaring the City’s intent to reimburse itself from bond proceeds.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the sum of $2,513,765.42 is hereby appropriated from the Unappropriated Fund Balance of the Sewer Fund to the following account:

 

19-8110-129998-908188 Transfer to 2018 Sewer Revenue Fund $ 2,513,765.42

 

Section 2. That the revenue in the following account of the Sanitary Sewer Project Fund Series 2009A Fund, is hereby estimated in the following amount:

 

AL-8183-120000-460000 Interest on Investments $ 50,000.00

Section 3. That the sum of $50,000.00 is hereby appropriated from the Unappropriated Fund Balance of the Sanitary Sewer Project Fund Series 2009A to the following account:

 

AL-8183-129998-908188 Transfer to 2018 Sewer Revenue Fund $ 50,000.00

 

Section 4. That the revenue in the following accounts of the Sewer 2018 Revenue Project and Refunding Fund, is hereby estimated in the following amounts:

 

AL-8188-120000-508183 Transfer from 2009A Sewer Proj Fund $ 50,000.00

AL-8188-120000-508110 Transfer from Sewer Fund 2,513,765.42

AL-8188-120000-590000 Proceeds from Sale of Bonds 42,055,000.00

AL-8188-120000-485100 Premium on Bonds 5,205,650.80

TOTAL $49,824,416.22

 

Section 5. That the sum of $54,862,753.72 is hereby appropriated from the Unappropriated Fund Balance of the Sewer 2018 Revenue Project and Refunding Fund to the following accounts:

 

AL-8188-129620-B Cost of Issuance-2018B $ 185,000.00

AL-8188-129631-B Underwriters’ Discount 174,002.13

AL-8188-129686-B Arbitrage Rebate 10,000.00

AL-8188-129671-G Defeasance of 2009A Bonds 54,463,751.59

TOTAL $54,832,753.72

 

Section 6. The Director of Finance is hereby designated requisitioning authority for Account Nos. 19-8110-129998, AL-8183-129998, AL-8188-129620, AL-8188-129631, AL-8188-129686 and AL-8188-129671.

 

Section 7. 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.

Section 8. That the City 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 the appropriations (“Appropriations”) in Section 5 with the proceeds of bonds expected to be issued by the City. The maximum principal of amount of bonds (“Bonds”) proceeds for the Appropriations expected to be financed under the Bonds is $ 47,260,650.80. This constitutes a declaration of official intent under Treasury Regulation Section 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:

 

 

Katherine Chandler

Assistant City Attorney