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RESOLUTION NO. 940127
Expressing the Council's intent to evaluate the
feasibility of establishing certain policies on the use of sales tax revenues
for capital improvements projects.
WHEREAS, in view of the various projects proposed to
be financed by the Kansas City Municipal Assistance Corporation in the spring
of 1994, the Council is faced with evaluating the projects proposed and
determining whether debt should be issued to finance those proposed projects; and
WHEREAS, the Council could be aided in its
evaluation of those projects if certain policies and guidelines were
established which would emphasize the preservation of the City's credit rating,
the minimization of borrowing costs, and maintaining the trust of the voters
and the input of citizens' advisory groups, and the impact of immediate debt
issuance decisions on future flexibility and fiscal needs; and
WHEREAS, the Council recognizes the necessity of
establishing and following a capital improvements plan, a debt issuance policy
regarding said plan, and a policy regarding the lending of the City's credit
for outside agencies; NOW, THEREFORE,
BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY:
Section 1. That the Mayor and Council express their
intention to evaluate the feasibility of (1) a capital improvements plan for
improvements to be funded by sales tax revenues (2) a debt issuance policy
regarding the plan and (3 a policy regarding the lending of the City's credit
to outside agencies.
Section 2. That the City Manager is directed to
provide to the Council information regarding the impact of these policy
decisions and the historical role of the Public Improvements Advisory Committee
on these issues.
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