ORDINANCE NO. 241094

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Sponsor: City Manager's Office

Approving an Industrial Development Plan for Blue Cross Blue Shield of Kansas City (together with its successors or assigns, the "Company") for an industrial development project consisting of the purchase and installation of personal property to at the Company's new office location (the "Project") 1400 Baltimore Avenue in Kansas City, Missouri (the "Project Site"); authorizing and approving various agreements for the purpose of setting forth covenants, agreements and obligations of the City and Company; authorizing the issuance of taxable industrial revenue bonds in an amount not to exceed $22,000,000.00; authorizing and approving other documents; and authorizing certain other actions in connection with the issuance of said bonds.

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WHEREAS, the City of Kansas City, Missouri, a constitutional charter city and municipal corporation of the State of Missouri (the "City") is authorized pursuant to the provisions of Article VI, Section 27(b) of the Missouri Constitution, as amended, and Sections 100.010 to 100.200, inclusive, of the Revised Statutes of Missouri, as amended, and the City of Kansas City Charter (collectively, the "Act"), to issue its revenue bonds for carrying out a project or projects under the Act, such revenue bonds to be paid solely from revenue received from such project, and to enter into leases of certain property associated with the project to be financed with the proceeds of such revenue bonds with any person, firm or corporation; and

WHEREAS, the City therefore desires to encourage the Project for the purposes of promoting economic growth in the City and creating jobs; and

WHEREAS, the Company anticipates retaining 1,150 jobs at an average salary of $105,000.00, relocating 75 jobs at an average salary of $75,000.00, and creating 50 jobs at an average salary of $90,000.00; and

WHEREAS, the Company requests the issuance of the Bonds for the purposes desc...

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