ORDINANCE NO. 250594
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Sponsor: Director of Parks and Recreation Department
Appropriating the sum of $1,500,000.00 from the Liberty Memorial Trust Fund for improvement and repair projects at the Liberty Memorial and the Memorial Museum; designating requisitioning authority; and recognizing this ordinance as having an accelerated effective date.
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WHEREAS, Committee Substitute for Ordinance No. 980413, As Amended, placed before the voters of Kansas City on August 4, 1998, a one-half cent sales tax to be used for the restoration of the Liberty Memorial and the establishment of Liberty Memorial Endowment Trust Fund ("Endowment") to be used for the maintenance of the Liberty Memorial and the Memorial Museum, and this tax was approved by the voters and collected from April 1, 1999, through September 30, 2000; and
WHEREAS, by Committee Substitute for Ordinance No. 001246 the City Council established a policy for the investment of the Endowment and for using the Endowment for its intended purposes; and
WHEREAS, by Committee Substitute for Ordinance No. 030363 the City Council authorized the expenditure of up to 45% of the interest earned from the Endowment for routine maintenance and upkeep costs; and
WHEREAS, by Committee Substitute for Ordinance No. 050798 the City Council authorized a loan of $10 million from the principal of the Endowment for the expansion of the Liberty Memorial and the Memorial Museum; and
WHEREAS, by Second Committee Substitute for Ordinance No. 090677 and Ordinance No. 120013 the City Council modified the terms of Committee Substitute for Ordinance No. 030363 and authorized the expenditure of up to 90% of the interest earned from the Endowment for routine maintenance and upkeep costs for all future fiscal years beyond 2009; and
WHEREAS, on August 25, 2012, the City, acting through the Board of Parks and Recreation Commissioners, entered into an agreement with Libe...
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