ORDINANCE NO. 240242
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Sponsor: Director of the Finance Department
Approving the issuance by the City of Kansas City Missouri of its special obligation bonds in more than one series (collectively, the "Series 2024 Bonds"), including a series of bonds to finance certain costs of the Main Streetcar Extension project on a tax-exempt basis with an estimated cost of $16,741,084.00, a series of bonds to finance certain projects on a tax-exempt basis with an estimated cost of $43,758,064.00 and a series of bonds to finance certain projects on a taxable basis with an estimated cost of $5,250,015.00, such Series 2024 Bonds to be issued in an aggregate principal amount not to exceed $75,000,000.00; approving and authorizing certain documents and actions relating to the issuance of the Series 2024 Bonds; estimating and appropriating revenue in Fund No. 3449, the Special Obligation Series 2024A Streetcar Project Fund, Fund No. 3452, the Special Obligation Series 2024B Project Fund and Fund No. 3451, the Taxable Special Obligation Series 2024C Project Fund; designating requisitioning authority; declaring the City's intent to reimburse itself from bond proceeds; authorizing the Director of Finance to modify and close project accounts; 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 its charter to issue its bonds or other obligations in evidence thereof; and
WHEREAS, pursuant to the Missouri Transportation Development District Act, Sections 238.200, et seq., RSMo, as amended (the "TDD Act"), the Kansas City Downtown Streetcar Transportation Development District (the "Downtown Streetcar District") was established on August 2, 2012 by Order of the Circuit Court of Jackson County, Missouri, for the purpose of undertaking or causing to be undertaken, and funding, along with other sources, the design, construction, ownership and/or operation of a mode...
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