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Legislation #: 970740 Introduction Date: 5/22/1997
Type: Ordinance Effective Date: 6/8/1997
Sponsor: COUNCILMEMBER BACCHUS
Title: Authorizing execution of a $586,000.00 contract with the Planned Industrial Expansion Authority of Kansas City, Missouri, for funds for payments of principal and interest on a Section 108 loan.

Legislation History
DateMinutesDescription
5/22/1997

Prepare to Introduce

5/22/1997

Referred Planning, Zoning & Economic Development Committee

5/28/1997

Advance and Do Pass

5/29/1997

Passed


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ORDINANCE NO. 970740

 

Authorizing execution of a $586,000.00 contract with the Planned Industrial Expansion Authority of Kansas City, Missouri, for funds for payments of principal and interest on a Section 108 loan.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Director of the Department of Housing and Community Development is hereby authorized to execute a contract with the Planned Industrial Expansion Authority of Kansas City, Missouri, in the amount of $586,000.00, for the purpose of providing funds for the payments of principal and interest due on a Section 108 loan to be paid from funds previously appropriated to Account No. 98-266-055-2401-B, 108 Repayment. A copy of said contract, in substantial form, is attached hereto and is hereby approved.

 

_________________________________________________________________

 

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