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[COMMITTEE SUBSTITUTE FOR] ORDINANCE NO. 230719
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Sponsor: Director of the Finance Department
Amending Ordinance No. 230171 by repealing Section 1 and enacting in its place a new Section 1 adjusting tax levy rates for the General Fund, Health Levy Fund, General Debt and Interest Fund, and Museum Special Revenue Fund, and recognizing this ordinance as having an accelerated effective date.
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BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section A. That Ordinance No. 230171 is hereby amended by repealing Section 1 and enacting a new Section 1 in its place to read as follows:
Section 1. That taxes for Fiscal Year 2023-24, commencing on the first day of May, 2023, in the total amount of one dollar forty-nine and fifty-three hundredth cents ($1.4953) per hundred dollars, shall be and are levied on all property within the City subject to taxation on January 1, 2023, under the Constitution and laws of the State of Missouri, both real and tangible personal, subject to the provisions contained in Section 2 of this ordinance, as follows:
FIRST: A general tax of fifty-four and one hundredth cents ($.5401) on each hundred dollars of the assessed valuation of all such taxable property is levied and imposed for municipal operating purposes, to be credited to the General Fund.
SECOND: A general tax of fifty-four and three hundredth cents ($.5403) on each hundred dollars of assessed valuation of all such taxable property is levied and imposed for municipal operating expenses for hospitals and public health purposes, to be credited to the Health Levy Fund.
THIRD: The Council, pursuant to authority granted under Section 92.031, RSMo, in the alternative, elects to levy and impose a tax for debt service of forty cents ($.4000) on each hundred dollars of assessed valuation of all such taxable property, which tax is necessary for the maintenance of the General Debt and Interest Fund for the redemption of the outstanding general obligation bonds of the City maturing in Fiscal Year 2023-24 and for the payment of all interest becoming due and payable in Fiscal Year 2023-24, on the entire outstanding general obligation bond indebtedness of the City, except indebtedness upon which the principal and interest are payable or budgeted for payment from other funds of the City.
FOURTH: A general tax of one and forty-nine hundredth cents ($.0149) on each hundred dollars of the assessed valuation of all such taxable property is levied and imposed for municipal museum purposes, to be credited to the Museum Special Revenue Fund.
Section B. That this ordinance relating to setting the annual levy rates for taxation of real and tangible personal property is recognized as an ordinance with an accelerated effective date as provided by Section 503(a)(3)(G) of the City Charter and shall take effect in accordance with Section 503, City Charter.
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I hereby certify that the levy specified in the THIRD paragraph of new Section 1 in Section A of the foregoing ordinance is necessary for the maintenance of the General Debt and Interest Fund for the payment of principal and interest on the outstanding general obligation bond indebtedness of Kansas City, as stated therein.
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Tammy L. Queen
Director of Finance
Approved as to form:
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Sam Miller
Assistant City Attorney