ORDINANCE NO. 260896
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Sponsor: Director of Finance Department
Authorizing the issuance of not to exceed $100,000,000.00 principal amount of Sanitary Sewer System Revenue Bonds (State of Missouri – Direct Loan Program) Series 2026B of the City of Kansas City, Missouri, for the purpose of extending and improving the City’s sanitary sewer system; prescribing the form and details of the bonds and the agreements made by the City to facilitate and protect their payment; renaming Fund No. 8196 of the City; and prescribing other related matters.
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WHEREAS, the City of Kansas City, Missouri (the “City”), is a constitutional charter city organized and existing under the constitution, the City’s Charter and laws of the State of Missouri; and
WHEREAS, the City now owns and operates a revenue producing sanitary sewer system, consisting of sanitary sewers and combined sewers, serving the City, its inhabitants and others within its service area, including connected and related appurtenances and facilities and extensions, improvements, additions and enlargements made or acquired by the City after the date of this Ordinance (the “Sanitary Sewer System” or the “System”); and
WHEREAS, the City desires to construct certain improvements to the System (the “Project”), such improvements to be financed by the issuance by the City pursuant to this Ordinance of its Sanitary Sewer System Revenue Bonds (State of Missouri – Direct Loan Program) Series 2026B (the “Bonds”) in the maximum principal amount of $100,000,000.00 (the “Maximum Principal Amount”); and.
WHEREAS, to provide for the most cost-effective financing of the Project, the City desires to participate in the State of Missouri Clean Water State Revolving Fund Direct Loan Program (the “CWSRF Direct Loan Program”) of the Missouri Department of Natural Resources (“DNR”) and the Clean Water Commission of the State of Missouri (the “Commission”); and
WHEREAS, in connection with the Project, the Commission has approved (...
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