COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 931307

Authorizing Municipal Lease Purchase Agreements with IBM Credit Corporation for Lease Purchase of an IBM 9121/621 and associated equipment, an IBM 3825 printer, and an IBM 3390/B2C DASD for the Information Systems Division of Finance; estimating revenue of $3,707,492.00 in the Equipment Lease Capital Acquisition Fund and appropriating said sum; authorizing expenditure of funds; designating requisitioning authority; and recognizing an emergency.

WHEREAS, the Finance Department desires to enter into a lease purchase agreement with IBM Credit Corporation for computer equipment and also a lease purchase agreement with IBM Credit Corporation to finish the third floor of the new Public Safety Communications Facility; and

WHEREAS, it is necessary at this time to move forward with the lease purchase agreement for the computer equipment; and

WHEREAS, the City Council intends to make a final decision on the lease purchase agreement to finish the third floor of the new Public Safety Communications Facility by January 31, 1994 with the understanding that IBM Credit Corporation will honor its agreement to fund up to $725,000.00 at current interest rates; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the Director of Finance is hereby authorized to execute on behalf of Kansas City a Lease Purchase Agreement with the IBM Credit Corporation, for a period of five years, for the refinancing and upgrade of an IBM 9121 and associated equipment, the purchase of an IBM 3825 printer, and the purchase of an IBM 3390/B2C DASD at a total principal cost of $3,707,492.00, in substantial form as that on file with the Director of Finance.

Section 2. That the revenue in the following account of the Equipment Lease Capital Acquisition Fund is hereby estimated in the following amount:

323-012-8300 Reimbursement from Bank/Leasing Co. $3,707,492.00

Section 3. That the sum of $3,707,492.00 is hereby appropriated from the Unappropriated Fund Balance of the Equipment Lease Capital Acquisition Fund to the following account:

323-012-9714E Communications Facility-Information $3,707,492.00 Systems

Section 4. That the Director of Finance is hereby designated requisitioning authority for Account No. 323-012-9714.

Section 5. That the Director of Finance is hereby authorized to expend the sum of $82,500.00 from funds heretofore appropriated to Account No. 100-012-9790 as and for consideration in the aforesaid Agreements.

Section 6. That this ordinance, making an appropriation for the current expense of the City government, is recognized as an emergency measure within the provisions of Section 15, Article II of the Charter of Kansas City, and shall take effect immediately upon passage.

_______________________________________________________

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.

____________________________________

Director of Finance

Approved as to form and legality:

___________________________________

Assistant City Attorney