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File #: 220553    Version: Name:
Type: Ordinance Status: Passed
File created: 6/22/2022 In control: Council
On agenda: 6/30/2022 Final action: 6/30/2022
Title: Estimating and appropriating $5,676,000.00 from the Unappropriated Fund Balance of the General Obligation Series 2023A Question 1 Bond Fund; establishing Fund No. 3623, the General Obligation Series 2023A Question 2 Bond Fund in the records of the City of Kansas City, Missouri; estimating and appropriating $11,110,000.00 from the Unappropriated Fund Balance of the General Obligation Series 2023A Question 2 Bond Fund; establishing Fund No. 3723, the General Obligation Series 2023A Question 3 Bond Fund in the records of the City of Kansas City, Missouri; estimating and appropriating $2,575,758.00 from the Unappropriated Fund Balance of the General Obligation Series 2023A Question 3 Bond Fund; designating requisitioning authorities; declaring the intent of the City to reimburse itself from the bond proceeds for certain expenditures; authorizing the Director of Finance to close project accounts; and recognizing this ordinance as having an accelerated effective date.
Attachments: 1. 220553 Approp Admin, 2. 220553 Fact Sheet, 3. 220553 Fiscal Note, 4. 220553 FY23 GOKC Bond Program Ordinance Presentation_, 5. 220553 FY23 GOKC Bond Program Ordinance Presentation_, 6. Authenticated Ordinance 220553 sub

COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 220553

 

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Estimating  and  appropriating $5,676,000.00 from the Unappropriated Fund Balance of the General Obligation Series 2023A Question 1 Bond Fund; establishing Fund No. 3623, the General Obligation Series 2023A Question 2 Bond Fund in the records of the City of Kansas City, Missouri; estimating and appropriating $11,110,000.00 from the Unappropriated Fund Balance of the General Obligation Series 2023A Question 2 Bond Fund; establishing Fund No. 3723, the  General Obligation Series 2023A Question 3 Bond Fund in the records of the City of Kansas City, Missouri; estimating and appropriating $2,575,758.00 from the Unappropriated Fund Balance of the General Obligation Series 2023A Question 3 Bond Fund; designating requisitioning authorities; declaring the intent of the City to reimburse itself from the bond proceeds for certain expenditures; authorizing the Director of Finance to close project accounts; and recognizing this ordinance as having an accelerated effective date.

 

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WHEREAS, Ordinance No. 160877 put before the voters the question of enacting a basic maintenance and capital improvements program for 20 additional years by the extension of the current 1% general sales tax used for capital improvements and maintenance; and

 

WHEREAS, in a Special Election called on April 4, 2017, the voters of the City of Kansas City, Missouri approved 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; and

 

WHEREAS, pursuant to Committee Substitute for Resolution No. 200807, the 2020-2024 Citywide Business Plan included the Submitted FY 2022-2026 GOKC Bond Five-Year Plan of which the first year of the plan (FY2021-22) was approved; and

 

WHEREAS, Committee Substitute for Ordinance No. 210178 directed funding for Raytown Road over Lumpkins Fork Creek in fiscal year 23 of the GO Bond issuance; and

 

                     WHEREAS, the Swope Park Industrial Flood Control Project includes the construction of a flyover bridge to ensure continued access to the area with the construction of the levee and the flyover bridge will be funded from Question 2:  Flood Control; and Flood Control and grants from the US Army Corps of Engineers; and

 

                     WHEREAS, Committee Substitute for Ordinance No. 220200 approved the appropriation of $20,000,000 for the General Obligation Series 2023A Question 1 Bond Fund for Street Resurfacing; and

 

WHEREAS, Ordinance No. 220486 approved $11,500,000 for the General Obligation Series 2023A Question 1 Bond funding for Sidewalks, ADA Curb Ramps, Vision Zero, Complete Streets and Arlington Rd; NOW THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the revenue in the following account of Fund No. 3523 General Obligation Series 2023A Question 1 Bond Fund, is hereby increased in the following amount:

 

AL-3523-120000-590000                                          Bond Proceeds                                                               $  5,676,000.00

 

Section 2. That the sum of $5,676,000.00 for Question 1 - Roads, Bridges, Sidewalks is hereby appropriated from the Unappropriated Fund Balance of Fund No. 3523, the General Obligation Series 2023 Question 1 Bond Fund to the following accounts:

 

AL-3523-898016-B-89005596                     Raytown Rd Over Lumpkins Fork

                                                                                                            Creek                                                                                    $  5,160,000.00

AL-3523-077010-B-07A21100                     Public Art - Streets                                                                      516,000.00

                                                                                                                              ROADWAY TOTAL                                          $  5,676,000.00

 

Section 3. That Fund No. 3623, the General Obligation Series 2023A Question 2 Bond Fund, is hereby established in the records of the City of Kansas City, Missouri.

 

Section 4. That the revenue in the following account of Fund No. 3623, the General Obligation Series 2023A Question 2 Bond Fund, is hereby estimated in the following amount:

 

Al-3623-120000-590000                                          Bond Proceeds                                                               $11,110,000.00

 

Section 5. That the sum of $11,110,000.00 for Question 2 - Flood Control is hereby appropriated from the Unappropriated Fund Balance of Fund No. 3623, the General Obligation Series 2023A Question 2 Bond Fund to the following accounts:

 

AL-3623-808053-B-82000288                     Lower Brush Creek                                                               $  3,000,000.00

AL-3623-808054-B-89005580                     Swope Park Industrial Flyover                         8,000,000.00

AL-3623-077020-B-07A21100                     Public Art - Flood Control                                                 110,000.00

                                                                                                                              FLOOD TOTAL                                          $11,110,000.00

 

Section 6. That Fund No. 3723, the General Obligation Series 2023A Question 3 Bond Fund, is hereby established in the records of the City of Kansas City, Missouri.

 

Section 7. That the revenue in the following account of Fund No. 3723, the General Obligation Series 2023A Question 3 Bond Fund, is hereby estimated in the following amount:

 

AL-3723-120000-590000                                          Bond Proceeds                                                               $  2,575,758.00

 

Section 8. That the sum of $2,575,758.00 is hereby appropriated for Question 3 - Public Buildings from the Unappropriated Fund Balance of Fund No. 3723, the General Obligation Series 2023A Question 3 Bond Fund to the following accounts:

 

AL-3723-078025-B-70224001                     KC Zoo ADA Compliance                                          $  1,500,000.00

AL-3723-078024-B-07P22059                     Convention Facilities ADA                                              1,050,000.00

AL-3723-077030-B-07A21100                     Public Art - Pubic Buildings                                                   25,758.00

                                                                                                                              BUILDINGS TOTAL                                          $  2,575,758.00

 

Section 9. That the Director of Public Works is hereby designated as the requisitioning authority for Account No. AL-3523-898016, that the Director of the General Services Department is hereby designated as the requisitioning authority for Account Nos. AL-3523-077010, AL-3623-077020, AL-3723-077030, AL-3723-078025, AL-3723-078024, that the Director of Water Services is hereby designated as the requisitioning authority for Account Nos. AL-3623-808053, AL-3623-808054.

 

Section 10. That the City Council hereby declares its official intent to reimburse itself for certain expenditures made within sixty (60) days prior to or on and after the date of this ordinance with respect to appropriations in Section 2, Section 5 and Section 8 (collectively the “Appropriations”) with the proceeds of bonds expected to be issued by the City. The maximum principal amount of bonds expected to be issued for the Appropriations is not to exceed $19,361,758.00. This constitutes a declaration of official intent under Treasury Regulation 1.150-2.

 

Section 11. That the Director of Finance is hereby authorized to close project accounts, open encumbrances and retainage related to the accounts in Section 3, Section 6 and Section 9, and return the unspent portion to the Fund balance from which it came upon the earliest of: (i) Project’s completion; (ii) final maturity of financing or (iii) five years after issuance.

 

Section 12.  That this ordinance, appropriates money, is recognized as an ordinance with an accelerated effective date as provided by Section 503(a)(3)(C) of the City Charter and shall take effect in accordance with Section 503, City Charter.

 

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I hereby certify that there is a balance, otherwise unencumbered, to the credit of the appropriation to which the foregoing expenditure is to be charged, and a cash balance, otherwise unencumbered, in the treasury, to the credit of the fund from which payment is

to be made, each sufficient to meet the obligation hereby incurred.

 

 

                                                                                                                              _______________________________

Tammy L. Queen

                                                                                                                              Director of Finance

 

Approved as to form and legality:

 

 

______________________________

Katherine Chandler

Senior Associate City Attorney