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[COMMITTEE SUBSTITUTE FOR] ORDINANCE NO. 250216
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Sponsor: Director of Finance Department
COMMITTEE SUBSTITUTE
Approving the issuance by the City of Kansas City Missouri of its special obligation bonds in more than one series (collectively, the "Series 2025 Bonds"), including a series of bonds to finance certain projects on a taxable basis with an estimated cost of $109,950,000.00, a series of tax-exempt bonds to finance certain projects with an estimated cost of $35,350,000.00 and a series of bonds to refund certain bonds of the City previously issued to refinance the downtown arena, such Series 2025 Bonds to be issued in an aggregate principal amount not to exceed $295,000,000; approving and authorizing certain documents and actions relating to the issuance of the Series 2025 Bonds; estimating and appropriating the proceeds of the sale of bonds in various funds; declaring the City's intent to reimburse itself from bond proceeds; authorizing the Director of Finance to modify and close project accounts; and recognizing this ordinance as having an accelerated effective date.
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WHEREAS, the City of Kansas City, Missouri (the "City") is authorized under its charter to issue its bonds or other obligations in evidence thereof; and
WHEREAS, the City proposes to issue its Taxable Special Obligation Bonds (Kansas City, Missouri Projects), which shall be designated the Series 2025A Bonds or such other series designation as the Director of Finance shall determine (the "Series 2025A Bonds"), to provide funds: (a) to design, construct, reconstruct and/or improve certain projects within the City with an estimated aggregate cost of $109,950,000.00, as set forth on Schedule I attached hereto and made a part hereof by reference (the "Taxable City Projects"), and (b) to pay certain costs related to the issuance of the Series 2025A Bonds; and
WHEREAS, the City proposes to issue its Special Obligation Bonds (Kansas City, Missouri Proje...
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