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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