COMMITTEE SUBSTITUTE
FOR ORDINANCE NO. 060506
Renaming Fund No. 3425, the KCMAC
Series 2006A-KCMAC 1996A Refunding, Expansion, Music Hall and Auditorium Garage
Improvements Revenue Bond Fund, establishing Fund No. 3426, the KCMAC Series
2006B-KCMAC 1996B Refunding Revenue Bond Fund; estimating revenues in the
amount of $148,663,387 and $18,516,241 in the KCMAC Series 2006A-KCMAC 1996A
Refunding, Expansion, Music Hall and Auditorium Garage Improvements Fund and,
KCMAC Series 2006B-KCMAC 1996B Refunding Fund, respectively; and appropriating
the same; estimating FY 2007 debt service in Fund Nos. 5370, 2160 and 1000
respectively, designating requisitioning authorities; authorizing the Director
of Finance to close project accounts upon completion, and recognizing an
emergency.
BE IT ORDAINED
BY THE COUNCIL OF KANSAS CITY:
Section 1. That
the Fund No. 3425, be renamed the KCMAC Series 2006A-KCMAC 1996A Refunding,
Expansion, Music Hall and Auditorium Garage Improvements Revenue Bond Fund in
the records of the City of Kansas City, Missouri.
Section 2.
That the revenue in the following accounts of the Fund No. 3950 the KCMAC
Bartle Refunding Bond Fund, Series 1996A Fund is hereby estimated in the
following amounts:
AL-3950-120000-460100 Interest
on Investments-Trustee $ 417.00
Section 3. That
the sum of $13,277,708.00 is hereby appropriated from the Unappropriated Fund
Balance of Fund No. 3950, the KCMAC Bartle Refunding Bond Fund, Series 1996A
Fund to the following account:
AL-3950-129611-B Debt
Service Reserve $ 13,277,708.00
Section 4. That
the appropriation in the following account of Fund No. 3950, the KCMAC Bartle
Refunding Bond Fund, Series 1996A Fund is hereby reduced by the following
amount:
AL-3950-129611-B Debt Service Reserve $
13,277,708.00
Section 5.
That the sum of $13,277,708.00 is hereby appropriated from the Unappropriated
Fund Balance of Fund No. 3950 of the KCMAC Bartle Refunding Bond Fund, Series
1996A to the following accounts:
AL-3950-129998-903425 Transfer
to Fund No. 3425 $ 13,277,708.00
Section 6. That
the revenue in the following accounts of the Fund No. 3425 the KCMAC Series
2006A-KCMAC 1996A Refunding, Expansion, Music Hall and Auditorium Garage
Improvements Fund is hereby estimated in the following amounts:
AL-3425-120000-590000 Proceeds
from Sale of Bonds $127,950,000.00
AL-3425-120000-485100 Premium
on Bonds Sold 7,435,679.00
AL-3425-120000-503950 Transfer
from Fund No. 3950 13,277,708.00
TOTAL $148,663,387.00
Section 7. That
the sum of $148,663,387.00 is hereby appropriated from the Unappropriated Fund
Balance of Fund No. 3425, the KCMAC Series 2006A-KCMAC 1996A Refunding,
Expansion, Music Hall and Auditorium Garage Improvements Fund to the following
accounts:
AL-3425-129620-B Bond
Issue Expense $ 1,046,636.00
AL-3425-129631-B Underwriter
Discount 382,850.00
AL-3425-129632-B Original
Issue Discount 1 81,124.00
AL-3425-898022-B Auditorium
Parking Garage 2,691,000.00
AL-3425-898022-B Music
Hall Renovations 11,412,040.00
AL-3425-129998-X Transfer
to Fund No. 1000 234,960.00
AL-3425-897240-B Bartle
Hall Renovations 9,040,135.00
AL-3425-129671-B Defeasance
of Series KCMAC
Series
1996A 123,669,642.00
AL-3425-129686-B Arbitrage
Rebate Calculation 5,000.00
TOTAL $148,663,387.00
Section 8. That
the sum of $1,173,287.00 is hereby appropriated from the additional
Unappropriated Fund Balance of Fund No. 5370, the Convention and Sports Complex
Fund to the following accounts:
07-5370-129610-G Debt
Service $ 1,173,287.00
Section 9. That
the sum of $155,968.00 is hereby appropriated from the Unappropriated Fund
Balance of Fund No. 2160, the Parking Garage Fund to the following account:
07-2160-899755-G Debt
Service $ 155,968.00
Section 10. That
the revenue in the following account of Fund No. 1000, the General Fund is
hereby estimated in the following amount:
07-1000-120000-X Transfer
from KCMAC Series 2006A Fund $ 234,960.00
Section 11.
That the sum of $234,960.00 is hereby appropriated from the Unappropriated Fund
Balance of Fund No. 1000 of the General Fund to the following accounts:
07-1000-898017-B Citywide
Buildings $ 234,960.00
Section 12. That
the Director of Finance is hereby authorized to transfer the existing
encumbrances in an amount not to exceed $253,720.00 in Account Nos.
06-1000-898017-B for the Music Hall Improvements Project to Account No.
AL-3425-898022-B-89A00281.
Section 13. That
the Director of Finance is hereby authorized to transfer the existing
encumbrances in an amount not to exceed $2,800,000.00 in Account Nos.
AL-3421-898022-B for the Auditorium-Plaza Garage Improvements Project to
Account No. AL-3425-898022-B-89000291.
Section 14. That
the appropriation in the following account of Fund No. 3421, the KCMAC 06A
Auditorium Plaza Garage Fund, is hereby reduced by the following amount:
AL-3421-898022-B Buildings
CD2 $ 2,800,000.00
Section 15. That
the Fund No. 3426, the KCMAC Series 2006B-KCMAC 1996B Refunding Revenue Bond
Fund is hereby established in the records of the City of Kansas City, Missouri.
Section 16. That
the revenue in the following accounts of Fund No. 3426 the KCMAC Series 2006B-
KCMAC 1996B Refunding Revenue Fund is hereby estimated in the following
amounts:
AL-3426-120000-590000 Proceeds
from Sale of Bonds $ 18,465,000.00
AL-3426-120000-485100 Premium
on Bonds Sold 51,241.00
TOTAL $ 18,516,241.00
Section 17. That
the sum of $18,516,241.00 is hereby appropriated from the Unappropriated Fund
Balance of Fund No. 3426, the KCMAC Series 2006B-KCMAC 1996B Refunding Revenue
Fund to the following accounts:
AL-3426-129620-B Bond
Issue Expense $ 160,967.00
AL-3426-129631-B Underwriter
Discount 54,526.00
AL-3426-129632-B Original
Issue Discount 72,466.00
AL-3426-129671-B Defeasance
of Series KCMAC
Series 1996B 18,228,282.00
TOTAL $ 18,516,241.00
Section 18. That
the appropriation in the following account of Fund No. 1000, the General Fund
is hereby reduced by the following amount:
07-1000-129608-G Debt
Service KCMAC Series-Kemper $ 113,287.00
Section 19.
That the Director of Finance is hereby designated as requisitioning authority
for Account Nos. AL-3950-129611-B, AL-3950-129998-903425, AL-3425-129620-B,
AL-3425-129631-B, AL-3425-129632-B, AL-3425-129998-901000, AL-3425-129671-B,
AL-3425-129686-B, 07-5370-129610-G, AL-3426-129620-B, AL-3426-129631-B,
AL-3426-129632-B, AL-3426-129671-B, that Director of Public Works is hereby
designated requisitioning authority for Account Nos. AL-3425-898022-B,
AL-3425-897240-B, 07-2160-899755-G, 07-1000-898017-B.
Section 20. 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 21. That the
First Amendment to Seventh Supplemental Indenture (the "First
Amendment") is hereby approved in substantially the form on file in the
office of the Director of Finance and the Director of Finance is authorized to
execute and deliver the First Amendment with such changes therein and additions
thereto as the Director of Finance deems necessary or appropriate.
Section 22. That
the ordinance is recognized as an emergency measure within the provisions of
Section 15, Article II of the Charter of Kansas City, and shall take effect in
accordance with that section.
_____________________________________________
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