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Legislation #: 150439 Introduction Date: 6/4/2015
Type: Ordinance Effective Date: none
Sponsor: None
Title: Estimating revenues and appropriating $48,936,874.85 in the Refunding Bond Fund from the sale of General Obligation Refunding Bonds Series 2015A; designating requisitioning authorities; authorizing the Director of Finance to close project accounts upon project completion; and recognizing an accelerated effective date.

Legislation History
DateMinutesDescription
6/4/2015 Filed by the Clerk's office
6/4/2015 Referred to Finance, Governance & Ethics Committee
6/10/2015 Advance and Do Pass, Debate
6/11/2015 Passed

View Attachments
FileTypeSizeDescription
150439.pdf Authenticated 119K Authenticated
GO 2015A E A Fiscal Note-use this.pdf Fiscal Note 169K Fiscal Note
Accounting Forms.pdf Other 288K Accounting Forms
GO 2015A E A Ordinance Fact Sheet ver 2 06-2-15.pdf Fact Sheet 255K Fact Sheet

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ORDINANCE NO. 150439

 

Estimating revenues and appropriating $48,936,874.85 in the Refunding Bond Fund from the sale of General Obligation Refunding Bonds Series 2015A; designating requisitioning authorities; authorizing the Director of Finance to close project accounts upon project completion; and recognizing an accelerated effective date.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the revenue in the following accounts of the Refunding Bond Fund (Fund 5401), is hereby estimated in the following amounts:

 

AL-5401-120000-590000 Proceeds from Sale of Bonds $42,195,000.00

AL-5401-120000-485100 Premium on Bonds 6,741,874.85

TOTAL $48,936,874.85

 

Section 2. That the sum of $48,936,874.85 is hereby appropriated from the Unappropriated Fund Balance of the Refunding Bond Fund to the following accounts:

 

AL-5401-129620-B Bond Issuance Expense $ 176,337.46 AL-5401-129631-B Underwriters’ Discount 180,213.95

AL-5401-129686-B Arbitrage Rebate Calculation 10,000.00

AL-5401-129671-G Defeasance of Bonds 48,570,323.44

TOTAL $48,936,874.85

 

Section 3. That the Director of Finance is hereby designated as requisitioning authority for Account Nos. AL-5401-129631, AL-5401-129620, AL-5401-129686, and AL-5401-129671.

Section 4. 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 5. 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