ORDINANCE NO. 930519

Authorizing acceptance of a HUD Section 108 Loan Guarantee in the amount of $4,500,000.00 for the Warner/Miller Plaza Development Project and execution of the contract to implement said Loan Guarantee; estimating revenue in the amount of $4,500,000.00 in Account No. 254-055-7713; appropriating the sum of $4,500,000.00 to Account No. 254-055-2403; and designating requisitioning authority.

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the Mayor, on behalf of the City of Kansas City, is hereby authorized to accept a HUD Section 108 Loan Guarantee, B-92-MC-29-0003, in the amount of $4,500,000.00 for the Warner/Miller Plaza Development Project and to execute the contract with the U.S. Department of Housing and Urban Development to implement the Loan Guarantee.

Section 2. That the revenue in the following account of the Section 108 Loan Fund is hereby estimated in the following amount:

254-055-7713 Warner Plaza - HUD Loan $4,500,000.00

Section 3. That the sum of $4,500,000.00 is hereby appropriated from the Unappropriated Fund Balance of the Section 108 Loan Fund to the following account in said fund:

254-055-2403B Warner Plaza - HUD Loan $4,500,000.00

Section 4. That the Director of Housing and Community Development is hereby designated as requisitioning authority for Account No. 254-055-2403.

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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.

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Director of Finance

Approved as to form and legality:

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Assistant City Attorney