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Last Published: 10/25/2005 10:47:55 AM
KANSAS CITY COUNCIL RECORD
 
Upon Roll Call the following members were present:
Present:3 - CHARLES EDDY, ALVIN BROOKS, TERRY RILEY
Excused:1 - BILL SKAGGS
 

050975
(Sub.)
Renaming Fund 8400 and establishing Fund 8400 as the General Improvement Airport Revenue Bond Fund; estimating $24,812.746.00 of revenue in the General Improvement Airport Revenue Bond Fund from the sale of Series 2005H General Improvement Airport Refunding Revenue Bonds and appropriating it; appropriating $4,400,000.00 from the Unappropriated Fund Balance of the Kansas City Airports Fund for the project; estimating revenue in the Kansas City Airports Fund in the amount of $1,984,737.00; designating requisitioning authority; authorizing the Director of Finance to close project accounts upon completion; and recognizing an emergency.


FINANCE COMMITTEE recommends "ADVANCE AND DO PASS AS A COMMITTEE SUBSTITUTE, DEBATE"
Dan Grancolas,Finance Department, he explained the renaming of the fund known as 8400 to General Improvement Airport Revenue Bond Fund. On July 28, 2005, the City Council adopted Ordinance No. 050871 authorizing the sale of the Series 2005H Bonds in an amount not to exceed $24 million. On August 11, 2005, the City received eleven electronic (11) bids on the Series 2005H bonds. The low bidder on the bonds was Piper Jaffray with an original true interest rate bid of 3.475345%. In order for the City to achieve its financing objectives, subsequent updating of the final debt structure was done. This resulted in lowering the par amount of bonds sold from the original offering of $ 20,595,000 to $ 19,615,000. The true interest cost was also changed from 3.475345% to 3.4653%. The ordinance was substitute to make changes to appropriation amounts. There was no public testimony.

050992
Calling for submission to the voters of Kansas City, at a special election to be held on November 8, 2005, three questions amending the Charter of Kansas City to extend term limits applicable to future Mayors and Councils from two to three consecutive terms, permitting recall of an official only when proponents of the recall identify specific reasons for the recall and requiring a majority vote to replace a recalled official, and increasing the mandatory retirement age of Municipal Judges from 65 to 70 years of age; directing the City Clerk to notify the responsible election authorities of the election; and recognizing this ordinance to be an emergency measure.


FINANCE COMMITTEE recommends "HOLD ON AGENDA (8/24/2005)"
This item was held until 8/24/2005.

050906
(Sub.)
Authorizing the issuance of not to exceed $30,000,000.00 principal amount of Water Revenue Bonds, Series 2005F, of the City of Kansas City, Missouri, prescribing the form and details of such revenue bonds and the covenants and agreements to provide for the payment and security thereof; and authorizing certain actions and documents and prescribing other matters relating thereto.


FINANCE COMMITTEE recommends "ADVANCE AND DO PASS AS A COMMITTEE SUBSTITUTE, DEBATE"
Dan Grancollous,Finance Department, explained the issuance of not to exceed $30,000,000.00 principal amount of Water Revenue Bonds, Series 2005F, of the City of Kansas City, Missouri, prescribing the form and details of such revenue bonds and the covenants and agreements to provide for the payment and security thereof; and authorizing certain actions and documents and prescribing other matters that are related.
Ayes: 2 - Eddy, Brooks
Nays: 0

050953
Calling for submission to the voters of Kansas City, at a special election to be held on November 8, 2005, a question amending the Charter of Kansas City by repealing its current twenty articles and enacting thirteen new articles to be known as the Charter of the City of Kansas City, to reflect the home rule authority granted by the Missouri Constitution; to adopt the Missouri general municipal election day, to require elected officials be residents of the City immediately prior to their election; authorize the delegation of duties among City departments; to authorize the establishment of new park districts; to re-establish the Internal Auditor as an appointee of the City Manager; to accelerate the adoption of ordinances by requiring two rather than three readings; to require the establishment of debt and economic incentive policies; require decennial review of the Charter; to authorize the Council to impose payments in lieu of taxes on enterprise departments of the City not to exceed 10% of the department’s gross revenues; and provide for other municipal purposes; fixing the dates when the amendments shall take effect; directing the City Clerk to notify the responsible election authorities of the election; and recognizing this ordinance to be an emergency measure.


HELD ON DOCKET (8/24/2005)
This item was held until 8/24/2005.