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Legislation #: 160099 Introduction Date: 2/4/2016
Type: Ordinance Effective Date: 2/26/2016
Sponsor: None
Title: Renaming Fund 8187 the Series 2016A Sewer Revenue Improvement and Refunding Bond Fund; transferring $2,583,195.37 from Fund No. 8182, the Wastewater Series 2007A Fund to Fund No. 8187, the Series 2016A Sewer Revenue Improvement and Refunding Bond Fund; appropriating $929.40 from the Unappropriated Fund Balance of Fund No. 8182, the Wastewater Series 2007A Fund; estimating revenues in the amount of $145,057,226.67 in Fund No. 8187, the Series 2016A Sewer Revenue Improvement and Refunding Bond Fund and appropriating the same from the sale of Sanitary Sewer System Improvement and Refunding Revenue Bonds, Series 2016A; designating requisitioning authority; authorizing the Director of Finance to close project accounts upon project completion; and recognizing this ordinance as having an accelerated effective date.

Legislation History
DateMinutesDescription
2/4/2016 Filed by the Clerk's office
2/4/2016 Referred to Finance and Governance Committee
2/17/2016 Do Pass as a Committee Substitute
2/18/2016 Assigned Third Read Calendar as Substituted
2/25/2016 Passed

View Attachments
FileTypeSizeDescription
160099 Bond Sale Project Summary.pdf Other 129K 160099 Project List
160099 Fiscal Note-Sewer Revised.pdf Fiscal Note 34K 160099 Fiscal Note-2nd Revision
160099 Accounting Forms Revised.pdf Other 283K 160099 Approp and Admin Sheet
160099 Fact Sheet Sewer Revised.pdf Fact Sheet 120K 160099 Fact Sheet

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COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 160099

 

Renaming Fund 8187 the Series 2016A Sewer Revenue Improvement and Refunding Bond Fund; transferring $2,583,195.37 from Fund No. 8182, the Wastewater Series 2007A Fund to Fund No. 8187, the Series 2016A Sewer Revenue Improvement and Refunding Bond Fund; appropriating $929.40 from the Unappropriated Fund Balance of Fund No. 8182, the Wastewater Series 2007A Fund; estimating revenues in the amount of $145,057,226.67 in Fund No. 8187, the Series 2016A Sewer Revenue Improvement and Refunding Bond Fund and appropriating the same from the sale of Sanitary Sewer System Improvement and Refunding Revenue Bonds, Series 2016A; designating requisitioning authority; authorizing the Director of Finance to close project accounts upon project completion; and recognizing this ordinance as having an accelerated effective date.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the name of Fund No. 8187, the 2015A Sewer Revenue Bond Fund, is hereby changed to the Series 2016A Sewer Revenue Improvement and Refunding Bond Fund.

Section 2. That the sum of $2,584,124.77 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 8182, the Wastewater Series 2007A Fund to the following accounts:

 

AL-8182-129998-908187 Transfer to 2016A Sewer Revenue $ 2,583,195.37

Bond Fund

AL-8182-807715-B-81000669 Pump Stations 929.40

TOTAL $ 2,584,124.77

 

Section 3. That the revenue in the following accounts of Fund No. 8187, the Series 2016A Sewer Revenue Improvement and Refunding Bond Fund, is hereby estimated in the following amounts:

 

AL-8187-120000-590000 Proceeds from Sale of Bonds $123,740,000.00

AL-8187-120000-485100 Premium on Bonds 18,734,031.30

AL-8187-120000-508182 Transfer from Sewer Revenue Bonds,

Series 2007A Fund 2,583,195.37

TOTAL $145,057,226.67

 

Section 4. That the sum of $145,057,226.67 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 8187, the Series 2016A Sewer Revenue Improvement and Refunding Bond Fund to the following accounts:

 

AL-8187-807714-B-80BUDGET Treatment Facilities $ 8,200,000.00

AL-8187-807715-B-80BUDGET Pump Stations 12,140,000.00

AL-8187-807790-B-80BUDGET Sewers 19,000,000.00

AL-8187-807769-B-80BUDGET Overflow Control Plan 63,432,694.87

AL-8187-129632-B Discount on Sale of Bonds 463,171.55

AL-8187-129620-B Bond Issuance Expense 410,000.00

AL-8187-129631-B Underwriters’ Discount 742,498.88

AL-8187-129686-B Arbitrage Rebate Calculation 10,000.00

AL-8187-129671-G Defeasance of Bonds-2005B 8,603,766.18

AL-8187-129671-G Defeasance of Bonds-2007A 32,055,095.19

TOTAL $145,057,226.67

 

Section 5. That the Director of Finance is hereby designated as requisitioning authority for Account Nos. AL-8187-129631, AL-8187-129620, AL-8187-129632, AL-8187-129686, AL-8187-129671, and AL-8182-129998-908187 and that the Director of Water Services is hereby designated as the requisitioning authority for Account Nos. AL-8182-807715, AL-8187-807714, AL-8187-807715, AL-8187-807790 and AL-8187-807769.

Section 6. 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 7. That this ordinance is recognized as an ordinance with an accelerated effective date as provided by Section 503(a)(3)(C) of the City Charter in that it appropriates money, 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.

 

 

Randall J. Landes

Director of Finance

 

Approved as to form and legality:

 

 

Sarah Baxter

Assistant City Attorney