File #: 220180    Version: 1 Name:
Type: Ordinance Status: Passed
File created: 2/11/2022 In control: Council
On agenda: 2/24/2022 Final action: 2/24/2022
Title: Authorizing the issuance of General Obligation Refunding and Improvement Bonds, Series 2022A, of the City of Kansas City, Missouri, in a principal amount not to exceed $150,000,000.00; 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 $83,585,638.00 in the GO Series 2022A Question 1 Bond Fund; increasing and appropriating revenue in the amount of $379,899.00 in the GO Series 2022A Question 2 Bond Fund; increasing and appropriating revenue in the amount of $480,808.00 in the GO Series 2022A 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 ordinan...
Attachments: 1. Fact Sheet with Project List.pdf, 2. Fiscal Note and Debt Service.pdf, 3. Accounting and Admin Forms.pdf, 4. Authenticated Ordinance 220180
ORDINANCE NO. 220180

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Authorizing the issuance of General Obligation Refunding and Improvement Bonds, Series 2022A, of the City of Kansas City, Missouri, in a principal amount not to exceed $150,000,000.00; 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 $83,585,638.00 in the GO Series 2022A Question 1 Bond Fund; increasing and appropriating revenue in the amount of $379,899.00 in the GO Series 2022A Question 2 Bond Fund; increasing and appropriating revenue in the amount of $480,808.00 in the GO Series 2022A 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 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 such authority, 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 & Bridge Question"); (2) on the question of whether to issue general ...

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