ORDINANCE NO. 240231
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Sponsor: Councilmember Andrea Bough
Establishing Fund No. 3825, the General Obligation Series 2025A Q1-22 Bond Fund in the records of the City of Kansas City, Missouri; estimating and appropriating $12,500,000.00 from the Unappropriated Fund Balance of the General Obligation Series 2025A Q1-22 Bond Fund; establishing Fund No. 3925, the Taxable General Obligation Series 2025B Q2-22 Bond Fund in the records of the City of Kansas City, Missouri; estimating and appropriating $12,500,000.00 from the Unappropriated Fund Balance of the Taxable General Obligation Series 2025B Q2-22 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, 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 also duly held in the City on Tuesday, November 8, 2022 (the "2022 Election"), on the question of whether to issue general obligation bonds of the City in an amount not to exceed $125,000,000.00 for the purpose of paying for the acquisition, construction, renovation, improvement, equipping, and furnishing of City parks, recreation, and entertainment facilities (the "Parks and Entertainment Facilities Question"); and
WHEREAS, the votes cast at the 2022 Election were duly canvassed as provided by la...
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