File #: 240918    Version: 1 Name:
Type: Ordinance Status: Referred
File created: 10/7/2024 In control: Finance, Governance and Public Safety Committee
On agenda: 10/22/2024 Final action:
Title: Sponsor: Director of Finance Department Estimating revenue in the amount of $8,500,000.00 in Fund No. 3454, the Special Obligation Series 2025B Project Fund and appropriating the same for the purpose of financing the improvements to Swope Memorial Golf Course ("the Project"); declaring the City's intent to reimburse itself from bond proceeds; authorizing the Director of Finance to close project accounts upon completion; and recognizing this ordinance as having an accelerated effective date.
Sponsors: Director of Finance
Attachments: 1. Copy of Accounting Form - Golf Course Financing FY 2025, 2. City Golf Course Docket Memo Final
ORDINANCE NO. 240918

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Sponsor: Director of Finance Department

Estimating revenue in the amount of $8,500,000.00 in Fund No. 3454, the Special Obligation Series 2025B Project Fund and appropriating the same for the purpose of financing the improvements to Swope Memorial Golf Course ("the Project"); declaring the City's intent to reimburse itself from bond proceeds; authorizing the Director of Finance to close project accounts upon completion; and recognizing this ordinance as having an accelerated effective date.

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WHEREAS, the City of Kansas City Parks and Recreation Department entered into an agreement for the design of a renovation plan for the Swope Memorial Golf Course; and

WHEREAS, the City of Kansas City Parks and Recreation Department wishes to move forward with this project that will renovate greens, tee boxes, bunkers, cart paths and replace the irrigation system, including a new retention pond and pump station at Swope Memorial Golf Course; and

WHEREAS, this project is important to the region due to the historical significance of this golf course. A.W. Tillinghast, the architect hired by the Parks and Recreation Board of Commissioners in 1933 to re-design the original course built on this site in 1915, is one of history's most celebrated golf course architects. Swope Memorial, in a very real sense, represents his last true effort in golf course design; and

WHEREAS, this project will greatly improve this park asset and bring it to the national stage, which it rightly deserves; and

WHEREAS, the cost of the Project will be funded with the issuance of special obligation bonds ("Bonds") in Spring 2025 and the payment of scheduled debt service payments on the bonds will be made by annual appropriation of monies from revenues of the Golf Operations Fund over a successive twenty (20) year period; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY

Section 1. That the revenue ...

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