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Legislation #: 951407 Introduction Date: 10/12/1995
Type: Ordinance Effective Date: 11/5/1995
Sponsor: None
Title: Authorizing the Director of Finance to execute documents necessary for the financing of various capital equipment under a Master Lease Purchase Agreement in the amount of $603,162.00; estimating $603,162.00 in revenue in and appropriating that sum to various funds and accounts; and designating requisitioning authority.

Legislation History
DateMinutesDescription
10/12/1995

Prepare to Introduce

10/12/1995

Referred Finance & Administration Committee

10/18/1995

Do Pass

10/19/1995

Assigned to Third Read Calendar

10/26/1995

Passed


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ORDINANCE NO. 951407

 

Authorizing the Director of Finance to execute documents necessary for the financing of various capital equipment under a Master Lease Purchase Agreement in the amount of $603,162.00; estimating $603,162.00 in revenue in and appropriating that sum to various funds and accounts; and designating requisitioning authority.

 

WHEREAS, the Finance Department has accepted competitive bids for the necessary financing and has determined the proposal of GE Capital Public Finance, Inc. to be the lowest and best bid; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Director of Finance is authorized to execute any and all documents necessary for the financing of capital equipment under a Master Lease Purchase Agreement in an amount not to exceed $603,162.00.

 

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

 

96-323-012-8300 Reimbursement from Bank or Lease Co. $603,162.00

 

Section 3. That the sum of $603,162.00 is hereby appropriated from the Unappropriated Fund Balance of the Equipment Lease Working Capital Fund:

 

96-323-025-9702-E Eq Ls-Vehicles $603,162.00

 

Section 4. That the revenue in the following account of the Equipment Lease Debt Service Fund is hereby estimated in the following additional amount:

 

96-523-012-9200 Transfer from General Fund $ 57,459.00

 

Section 5. That the sum of $57,459.00 is hereby appropriated from the Unappropriated Fund Balance of the Equipment Lease Debt Service Fund:

 

96-523-012-9722G LS Pch-1995A $ 57,459.00

 

Section 6. That the Director of Codes Administration Department is hereby designated as the requisitioning authority for Account No. 96-323-025-9702-E.

 

________________________________________________________________

 

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