ORDINANCE NO. 230176
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Sponsor: Director of the Finance Department
Establishing Fund No. 3524, the General Obligation Series 2024A Question 1 Bond Fund in the records of the City of Kansas City, Missouri; estimating and appropriating $31,310,000.00 from the Unappropriated Fund Balance of the General Obligation Series 2024A Question 1 Bond Fund; establishing Fund No. 3624, the General Obligation Series 2024A Question 2 Bond Fund in the records of the City of Kansas City, Missouri; estimating and appropriating $5,937,898.00 from the Unappropriated Fund Balance of the General Obligation Series 2024A Question 2 Bond Fund; establishing Fund No. 3724, the General Obligation Series 2024A Question 3 Bond Fund in the records of the City of Kansas City, Missouri; estimating and appropriating $2,525,000.00 from the Unappropriated Fund Balance of the General Obligation Series 2024A 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 establishing the effective date of this ordinance.
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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. 220937, the 2024-2028 Citywide Business Plan included the Submitted FY 2024-2028 GOKC Bond Five-Year Plan of which the first year of the plan (FY2023-24) was approved; NOW THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section 1. That Fund No. 3524, the General Obligation Series 2024A Question 1 Bond Fund, is hereby established in the records of the City of Kansas City, Missouri.
Section 2. That the revenue in the following account of Fund No. 3524 General Obligation Series 2024A Question 1 Bond Fund, is hereby estimated in the following amount:
AL-3524-120000-590000 Bond Proceeds $31,310,000.00
Section 3. That the sum of $31,310,000.00 for Question 1 - Roads, Bridges, Sidewalks is hereby appropriated from the Unappropriated Fund Balance of Fund No. 3524, the General Obligation Series 2024 Question 1 Bond Fund to the following accounts:
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AL-3524-897701-B-89008533 |
Street Preservation |
$13,450,000.00 |
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AL-3524-898013-B-89008540 |
E 23rd street Benton to Indiana |
1,000,000.00 |
|
AL-3524-898015-B-89023032 |
Marlborough Community Infrastructure |
1,350,000.00 |
|
AL-3524-898013-B-89005582 |
Byrams Ford Bridge |
500,000.00 |
|
AL-3524-898077-B-89060955 |
Sidewalk Repair |
5,000,000.00 |
|
AL-3524-898077-B-89008918 |
Complete Streets |
500,000.00 |
|
AL-3524-898077-B-89060957 |
ADA Curb Ramps |
2,500,000.00 |
|
AL-3524-898035-B-89008587 |
Gregory Blvd. over Big Blue River |
1,000,000.00 |
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AL-3524-898077-B-89004854 |
Vision Zero |
500,000.00 |
|
AL-3524-898016-B-89008863 |
Wornall, Gregory to 75th |
5,200,000.00 |
|
AL-3524-077010-B-07A21100 |
Public Art - Streets |
310,000.00 |
|
|
ROADWAY TOTAL |
$31,310,000.00 |
Section 4. That Fund No. 3624, the General Obligation Series 2024A Question 2 Bond Fund, is hereby established in the records of the City of Kansas City, Missouri.
Section 5. That the revenue in the following account of Fund No. 3624, the General Obligation Series 2024A Question 2 Bond Fund, is hereby estimated in the following amount:
AL-3624-120000-590000 Bond Proceeds $ 5,937,898.00
Section 6. That the sum of $5,937,898.00 for Question 2 - Flood Control is hereby appropriated from the Unappropriated Fund Balance of Fund No. 3624, the General Obligation Series 2024A Question 2 Bond Fund to the following accounts:
AL-3624-808054-B-82000332 Westport Flood $ 4,685,357.00
AL-3624-808052-B-82000365 Milray Stoddard 495,000.00
AL-3624-808057-B-82000090 Flood Warning System 698,750.00
AL-3624-077020-B-07A21100 Public Art - Flood Control 58,791.00
FLOOD TOTAL $ 5,937,898.00
Section 7. That Fund No. 3724, the General Obligation Series 2024A Question 3 Bond Fund, is hereby established in the records of the City of Kansas City, Missouri.
Section 8. That the revenue in the following account of Fund No. 3724, the General Obligation Series 2024A Question 3 Bond Fund, is hereby estimated in the following amount:
AL-3724-120000-590000 Bond Proceeds $ 2,525,000.00
Section 9. That the sum of $2,525,000.00 is hereby appropriated for Question 3 - Public Buildings from the Unappropriated Fund Balance of Fund No. 3724, the General Obligation Series 2024A Question 3 Bond Fund to the following accounts:
AL-3724-078025-B-70224001 KC Zoo ADA Compliance $ 2,000,000.00
AL-3724-078027-B-07000175 City Hall Renovations 500,000.00
AL-3724-077030-B-07A21100 Public Art - Public Buildings 25,000.00
BUILDINGS TOTAL $ 2,525,000.00
Section 10. That the Director of Public Works is hereby designated as the requisitioning authority for Account Nos. AL-3524-897701, AL-3524-898015, AL-3524- 898013, AL-3524-898077, AL-3524-898035, AL-3524-898016, the Director of the General Services Department is hereby designated as the requisitioning authority for Account Nos. AL-3524-077010, AL-3624-077020, AL-3724-077030, AL-3724-078025 AL-3724-078027, that the Director of Water Services is hereby designated as the requisitioning authority for Account Nos. AL-3624-808054, AL-3624-808057 and AL-3624-808052.
Section 11. 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 3, Section 6 and Section 9 (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 $39,772,898.00. This constitutes a declaration of official intent under Treasury Regulation 1.150-2.
Section 12. 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 13. That this ordinance shall become effective on May 1, 2023.
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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:
______________________________
Katherine Chandler
Senior Associate City Attorney