ORDINANCE NO. 220716
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Estimating revenue and appropriating $2,000,000.00 from the Unappropriated Fund Balance of the General Obligation Series 2023A Question 1 Bond Fund to fund the final allocation of backlogged sidewalk projects; designating requisitioning authorities; declaring the intent of the City to reimburse itself from the bond proceeds for certain expenditures; and authorizing the Director of Finance to close project accounts.
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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, 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 Repair, ADA Curb Ramps, Vision Zero, Complete Streets and Arlington Road; and
WHEREAS, Committee Substitute for Ordinance No. 220553 approved the balance of the FY23 GOKC bond plan including $5,676,000.00 for Question 1, $11,110,000.00 for Question 2, and $2,575,758.00 for Question 3; and
WHEREAS, this ordinance will allow for the funding of the final amount of the backlog of sidewalk projects existing prior to approval of the 2017 GOKC bond authorization by voters; 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 estimated in the following amount:
AL-3523-120000-590000 Bond Proceeds $2,000,000.00
Section 2. That the sum of $2,000,000.00 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-3523-898077-B-89060891 Sidewalk Repair $2,000,000.00
Section 3. That the Director of Public Works is hereby designated as the requisitioning authority for Account Nos. AL-3523-898077.
Section 4. 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 (“Projects”), with the proceeds of bonds expected to be issued by the City. The maximum principal amount of bonds expected to be issued for the Projects is not to exceed $2,000,000.00. This constitutes a declaration of official intent under Treasury Regulation 1.150-2.
Section 5. That the Director of Finance is hereby authorized to close project accounts, open encumbrances and retainage related to the accounts in Section 2, 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.
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Tammy L. Queen
Director of Finance
Approved as to form and legality:
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Katherine Chandler
Assistant City Attorney