ORDINANCE NO. 230214
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Sponsor: Director of the Finance Department
Authorizing the issuance of General Obligation Bonds, Series 2023A, of the City of Kansas City, Missouri, in a principal amount not to exceed $100,000,000.00; prescribing the form and details of said bonds; providing for the levy and collection of an annual tax for the purpose of paying the principal of and interest on said bonds as they become due; authorizing certain other documents and actions in connection therewith; increasing and appropriating revenue in the amount of $2,500,000.00 in the GO Series 2023A Question 1 Bond Fund; increasing and appropriating revenue in the amount of $800,000.00 in the GO Series 2023A Question 2 Bond Fund; increasing and appropriating revenue in the amount of $300,000.00 in the GO Series 2023A Question 3 Bond Fund; authorizing the Director of Finance to close project accounts upon completion; and declaring the intent of the City to reimburse itself from the bond proceeds for certain expenditures; and recognizing this ordinance as having an accelerated effective date.
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WHEREAS, the City of Kansas City, Missouri (the "City"), is authorized under the provisions of Article VI, Section 26 of the Constitution of Missouri, 1945, as amended, and its charter (the "General Obligation Bond Law") to incur indebtedness and issue and sell general obligation bonds of the City to evidence such indebtedness for lawful purposes, upon obtaining the approval of the required majority of the qualified electors of the City voting on the question to incur such indebtedness; and
WHEREAS, pursuant to General Obligation Bond Law, a special election was duly held in the City on Tuesday, April 4, 2017 (the "2017 Election"): (1) on the question of whether to issue general obligation bonds of the City in an amount not to exceed $600,000,000.00 for the purpose of paying for the construction and reconstruction of streets, bridges and sidewalks (the "Street, Sidewalk & Bridg...
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