COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 220484
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Amending Chapter 2, Code of Ordinances, by enacting one new Section 2-1957 relating to a Capital Asset Rating System.
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WHEREAS, Ordinance No. 160951 stated the City Council's intention regarding the use of up to $800 million in general obligation bond proceeds and directed the City Manager to annually include in the City's five-year business plan a recommendation on the amount of bonds to issue each year and specific projects to be funded; and
WHEREAS, in a Special Election called on April 4, 2017, the voters of the City of Kansas City, Missouri approved the issuance of general obligation bonds for Question 1 to be used for funding Streets, Bridges and Sidewalks, Question 2 to be used for Flood Control and Question 3 to be used for Public Buildings in a total amount up to $800 million to be issued over the course of 20 years; and
WHEREAS, in order to extend the life of the bond program, it is essential to level out spending over the next fifteen years; and
WHEREAS, capital infrastructure can have a significant effect or improvement on the quality of life of the City's neighborhoods by providing fair, transparent and equitable services; and
WHEREAS, without world class infrastructure the City's economic prosperity, sustainability, equity and community health is at risk; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section 1. That Chapter 2, Code of Ordinances of the City of Kansas City, Missouri, is hereby amended by enacting one new Section 2-1957 relating to a Capital Asset Rating System, to read as follows:
Sec. 2-1957. Capital Asset Rating System.
(a) Policy.
(1) Establishing a policy for assigning a numerical score to citywide-funded capital projects as part of the annual capital improvements budgeting process.
(2) The citywide funded capital scoring criteria will include, but not be limited to, the following factors:
A. Condition. The...
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