File #: 220953    Version: 1 Name:
Type: Ordinance Status: Passed
File created: 10/17/2022 In control: Council
On agenda: 11/3/2022 Final action: 11/3/2022
Title: Sponsor: Director of the Finance Department Establishing Fund No. 8079, the Water Revenue Bond Series 2023A Projects Fund, in the records of the City of Kansas City; estimating revenue in the amount of $57,630,000.00 in Fund No. 8079, the Water Revenue Bond Series 2023A Projects Fund, and appropriating the same; 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 upon completion; and recognizing an accelerated effective date
Sponsors: Director of Finance
Attachments: 1. Fact Sheet Water Revenue Bonds 092922 JK comments, 2. TMP-2047 Fiscal Note, 3. Approp Admin - FY23 water revenue advance appropriation bond ordinance, 4. Water Projects, 5. Ordinance 220953 and 220954 Series 2023A Water and Sanitary Sewer Bonds, 6. Authenticated Ordinance 220953
Related files: 150398
ORDINANCE NO. 220953

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Sponsor: Director of the Finance Department

Establishing Fund No. 8079, the Water Revenue Bond Series 2023A Projects Fund, in the records of the City of Kansas City; estimating revenue in the amount of $57,630,000.00 in Fund No. 8079, the Water Revenue Bond Series 2023A Projects Fund, and appropriating the same; 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 upon completion; and recognizing an accelerated effective date

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WHEREAS, the City of Kansas City, Missouri (the "City"), is a constitutional charter City and political subdivision duly organized and existing under the laws of the State of Missouri (the "State") and the City's Charter, as amended, approved by the voters for its government (the "Charter"), and owns and operates a revenue producing waterworks system (the "System"); and

WHEREAS, the City desires to make certain additions, extensions and improvements to the System and is authorized under the provisions of the Constitution and statutes of the State and its Charter to issue and sell water revenue bonds for the purpose of providing funds for such purposes, upon obtaining the required voter approval and provided that the principal of and interest on such water revenue bonds shall be payable solely from the revenues derived from the operation of the System; and

WHEREAS, pursuant to such authority, a special bond election was duly held in the City on April 8, 2014 (the "2014 Election"), on the following question:

QUESTION NO. 1

Shall the City of Kansas City, Missouri issue and sell waterworks revenue bonds in the principal amount of $500,000,000.00 for the purpose of extending and improving the waterworks system of the City including, but not limited to (1) the continued expansion of the water distribution system, (2) ...

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