KC Skyline

City Clerk Web Search

Search the Ordinances:

Printer Friendly Minutes
Last Published: 4/3/2019 11:12:32 AM
KANSAS CITY COUNCIL RECORD
 
Upon Roll Call the following members were present:
Presided:1 - JOLIE JUSTUS
Present:5 - DAN FOWLER, TERESA LOAR, QUINTON LUCAS, JERMAINE REED, SYLVESTER JAMES, JR.
 

190026
Authorizing the issuance and incurrence of General Airport Revenue Bonds and Obligations; prescribing the terms, provisions and conditions for the issuance and incurrence of bonds and obligations of the City; authorizing certain actions and documents and prescribing other matters relating thereto; estimating and appropriating revenues in the amount of $10,000.00 in Fund No. 8560, the 2019 Airport Terminal Bond Fund; and recognizing an accelerated effective date.


AIRPORT COMMITTEE recommends "DO PASS"
Randy Landis, Director of Finance, provided a presentation on this ordinance. This ordinance provides for appropriation obligations, considered "The Playbook". Prior to 2013 each series Airport Revenue Bonds had been governed by its own ordinance. When the committee substitute for Ordinance 130081 approved a Master Bond Ordinance (MBO) it did not incorporate the possibility of issuing Appropriation Obligations. It did allow for simpler supplemental ordinance for each bond issue, balanced flexibility for the City with requirements of the rating agencies and credit market, as well as standardized and modernized covenants across all new bond issues. This particular ordinance is the amended and restated MBO. This ordinance authorizes the issuance and incurrence of General Airport Revenue Bonds and Obligations by prescribing the terms, provisions and conditions for the issuance and incurrence of bonds and obligations of the City. It will authorize certain actions and documents and prescribing other matters while estimating and appropriating revenues in the amount of $10,000.00 in Fund No. 8560, the 2019 Airport Terminal Bond Fund. Mr. Landis, and John Greene (Aviation Chief Financial Officer) went on to explain the Airport Plan of Finance with the breakdown of how payments, funding and bonds will be made. A digital copy of this presentation can be found in the City Clerk's Office.
Ayes: 6 - Justus, Fowler, Loar, Lucas, Reed, James, Jr.
Nays: 0

190027
(Sub.)
Authorizing and directing the incurrence of a Senior Appropriation Obligation in the principal amount not to exceed $900,000,000.00 in order to evidence the agreement of the City of Kansas City, Missouri (the “City”) to make certain debt service and additional payments to The Industrial Development Authority of the City of Kansas City, Missouri (the “Authority”) in connection with the Authority’s issuance of bonds, the proceeds of which will be made available to the City to finance a portion of the costs of the construction of a new passenger terminal at Kansas City International Airport and related purposes as set forth herein; authorizing certain actions and documents and prescribing other matters relating thereto; estimating and appropriating revenues in the amount of $10,000.00 in Fund No. 8560, the 2019 Airport Terminal Bond Fund; and recognizing an accelerated effective date.


AIRPORT COMMITTEE recommends "DO PASS AS A COMMITTEE SUBSTITUTE"
Randy Landis, Director of Finance, provided a presentation on this ordinance. This ordinance is the supplemental ordinance to the Amended and restated Master Bond Ordinance (MBO). It will authorize incurrence of up to $900 Million in Senior Appropriation Obligations. The debt service payable only from the net revenues of the Airport as defined in the MBO. This ordinance authorizes and directs the incurrence of a Senior Appropriation Obligation in the principal amount not to exceed $900,000,000.00 in order to evidence the agreement of the City of Kansas City, Missouri (the “City”) to make certain debt service and additional payments to The Industrial Development Authority of the City of Kansas City, Missouri (the “Authority”) in connection with the Authority’s issuance of bonds. The proceeds of which will be made available to the City to finance a portion of the costs of the construction of a new passenger terminal at Kansas City International Airport. It will authorize certain actions and documents and prescribing other matters related to estimating and appropriating revenues in the amount of $10,000.00 in Fund No. 8560, the 2019 Airport Terminal Bond Fund. Mr. Landis, and John Greene (Aviation Chief Financial Officer) went on to explain the Airport Plan of Finance with the breakdown of how payments, funding and bonds will be made. A digital copy of this presentation can be found in the City Clerk's Office.
Ayes: 6 - Justus, Fowler, Loar, Lucas, Reed, James, Jr.
Nays: 0

190028
(Sub.)
Approving the issuance of Airport Special Obligation Bonds (Kansas City International Airport Terminal Modernization Project) Series 2019 by The Industrial Development Authority of the City of Kansas City, Missouri in one or more series in an aggregate principal amount not to exceed $900,000,000.00 to finance, among other things, the Kansas City International Airport Terminal Modernization Project; approving and authorizing certain documents and actions in connection with the issuance of such bonds; renaming fund and estimating and appropriating revenues in the amount of $10,000.00 in Fund No. 8560, the 2019 Airport Terminal Bond Fund; designating requisitioning authority; and recognizing an accelerated effective date.


AIRPORT COMMITTEE recommends "DO PASS AS A COMMITTEE SUBSTITUTE"
Randy Landis, Director of Finance, provided a presentation on this ordinance. This ordinance is the authorizing ordinance and it provides a new term of Special Obligation Bonds by the Industrial Development Authority of the City of Kansas City, Missouri. It will authorize the execution of financing documents such as the Financing Agreement, Tax Compliance Agreement, Continuing Disclosure Undertaking and Bond Purchase Agreement. It will also approve the official statement and the selection of financial professionals. This ordinance approves the issuance of Airport Special Obligation Bonds (Kansas City International Airport Terminal Modernization Project) Series 2019 by The Industrial Development Authority of the City of Kansas City, Missouri in one or more series in an aggregate principal amount not to exceed $900,000,000.00 to finance. It will approve and authorize certain documents and actions in connection with the issuance of such bonds while renaming the fund and estimating and appropriating revenues in the amount of $10,000.00 in Fund No. 8560, the 2019 Airport Terminal Bond Fund. Mr. Landis, and John Greene (Aviation Chief Financial Officer) went on to explain the Airport Plan of Finance with the breakdown of how payments, funding and bonds will be made. A digital copy of this presentation can be found in the City Clerk's Office.
Ayes: 6 - Justus, Fowler, Loar, Lucas, Reed, James, Jr.
Nays: 0

190128
(Sub.)
Authorizing and directing the incurrence of a Senior Appropriation Obligation in the principal amount not to exceed $125,000,000.00 in order to evidence the agreement of the City of Kansas City, Missouri (the “City”) to make certain debt service and additional payments to The Industrial Development Authority of the City of Kansas City, Missouri (the “Authority”) in connection with the Authority’s issuance of Airport Special Obligation Bonds (Kansas City International Airport Terminal Modernization Project) Series 2019A (AMT) (the “Series 2019A Bonds”) to provide funds to finance $90,000,000.00 of the initial costs of the Kansas City International Airport Terminal Modernization Project and related purposes as set forth herein; approving the issuance of such Series 2019A Bonds by the Authority; approving and authorizing certain documents and actions in connection with the issuance of such bonds ; estimating and appropriating revenues in the amount of $34,581,070.00 in Fund No. 8560, the 2019 Airport Terminal Bond Fund, estimating revenues in the amount of $22,226,785.00 in Fund No. 8300, the Kansas City Airports Fund; appropriating revenues in the amount of $5,857,013.00 in Fund No. 8300, the Kansas City Airports Fund; and recognizing an accelerated effective date.


AIRPORT COMMITTEE recommends "DO PASS AS A COMMITTEE SUBSTITUTE"
Randy Landis, Director of Finance, provided a presentation on this ordinance. This ordinance is the initial financing ordinance. It will approve issuance of up to $125 million of Airport Special Obligation Bonds by the Industrial Development Authority of Kansas City, Missouri. It will also provide funding for project costs until the Airline Use and Lease Agreement is signed and appropriate debt service and costs of issuance, while approving the selection of financial professionals. This is secured by airlines pursuant to signed term sheet. This ordinance authorizes and directs the incurrence of a senior appropriation obligation in the principal amount not to exceed $125,000,000.00 in order to evidence the agreement of the City of Kansas City, Missouri (the “City”) to make certain debt service and additional payments to The Industrial Development Authority of the City of Kansas City, Missouri (the “Authority”) in connection with the Authority’s issuance of Airport Special Obligation Bonds (Kansas City International Airport Terminal Modernization Project) Series 2019A (AMT) (the “Series 2019A Bonds”) to provide funds to finance $90,000,000.00 of the initial costs of the Kansas City International Airport Terminal Modernization Project. It will approve the issuance of such Series 2019A Bonds by the Authority. It will also estimate and appropriate revenues in the amount of $34,581,070.00 in Fund No. 8560, the 2019 Airport Terminal Bond Fund, estimating revenues in the amount of $22,226,785.00 in Fund No. 8300, the Kansas City Airports Fund and appropriate revenues in the amount of $5,857,013.00 in Fund No. 8300, the Kansas City Airports Fund. Mr. Landis, and John Greene (Aviation Chief Financial Officer) went on to explain the Airport Plan of Finance with the breakdown of how payments, funding and bonds will be made. A digital copy of this presentation can be found in the City Clerk's Office.
Ayes: 6 - Justus, Fowler, Loar, Lucas, Reed, James, Jr.
Nays: 0

190149
RESOLUTION - Directing the City Manager to communicate the Council’s desire for private equity financing options as part of the financing plan for the terminal modernization project.


AIRPORT COMMITTEE recommends "HOLD OFF AGENDA"
This ordinance was voted by the committee to be held off the agenda. This ordinance directs the City Manager to communicate the Council’s desire for private equity financing options as part of the financing plan for the terminal modernization project.
Ayes: 6 - Justus, Fowler, Loar, Lucas, Reed, James, Jr.
Nays: 0

190187
Authorizing the Director of Public Works to enter into a Road Relinquishment Agreement with the Missouri Highways and Transportation Commission (“MHTC”) for the purpose of transferring ownership and maintenance of a certain portion of N. Indiana Avenue, north of Missouri Highway 152, from MHTC to the City; and recognizing this ordinance as having an accelerated effective date.


AIRPORT COMMITTEE recommends "ADVANCE AND DO PASS, DEBATE"
Sherri McIntyre, Director of Public Works, provided a presentation on this ordinance. This allows Public Works to better work with improvements to adjacent property owners for new developments to occur which is beneficial to both the city and the community. The segment is less than a1/3 of a mile and there will be a continuation of development around this corridor. Patricia Jensen, Rouse Frets White Goss Gentile & Rhodes P.C., provided an exhibit to display the development. A digital copy of this exhibit can be found in the City Clerk's Office. This ordinance authorizes the Director of Public Works to enter into a Road Relinquishment Agreement with the Missouri Highways and Transportation Commission (“MHTC”) for the purpose of transferring ownership and maintenance of a certain portion of N. Indiana Avenue, north of Missouri Highway 152, from MHTC to the City.
Ayes: 6 - Justus, Fowler, Loar, Lucas, Reed, James, Jr.
Nays: 0
 
 1. There may be general discussion regarding current Airport Committee issues
 
 2. Pursuant to the following subsections of Section 610.021 of the Revised Statutes (1) legal matters, litigation, or privileged communications with attorneys of Missouri, there may be a closed session to discuss: pursuant to subsection 1; (2) real estate, pursuant to subsection 2; (3) personnel, pursuant to subsection 3 and 13; and/or (4) sealed bids or proposals, pursuant to subsection 12.
 
 The City Clerk's Office now has equipment for the hearing impaired for use with every meeting. To check out the equipment please see the secretary for each committee. Be prepared to leave your Driver`s License or State issued Identification Card with the secretary and she will give you the equipment. Upon returning the equipment your license will be returned.