ORDINANCE NO. 260237

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Sponsor: Director of Finance Department

Authorizing the issuance of Taxable General Obligation Bonds, Series 2026B, of the City of Kansas City, Missouri, in a principal amount not to exceed $15,000,000.00; 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; and authorizing certain other documents and actions in connection therewith.

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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 $50,000,000.00 for the purpose of affordable housing through the rehabilitation, renovation, and construction of houses and buildings, including blight removal, to provide affordable housing for very low-to moderate-income households (the "Affordable Housing Question"); and

WHEREAS, the votes cast at the 2022 Election were duly canvassed as provided by law, and it was found and declared that not less than four-sevenths of the qualified voters of the City voting at the 2022 Election on said Affordable Housing Question voted in favor of the issuance of said bonds, the vote on said Affordable Housing Question having been 103,596 votes for the issuance of said bonds and 42,293 votes against the issuance of said bonds; and...

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