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File #: 210593    Version: Name:
Type: Ordinance Status: Passed
File created: 7/9/2021 In control: Council
On agenda: 8/26/2021 Final action: 9/24/2021
Title: Providing for submission to the qualified voters of the City for their approval at an election called for February 8, 2022, the question of authorizing the issuance of sanitary sewer revenue bonds of the City in the principal amount of $750,000,000.00 for the purpose of rehabilitating, improving and extending the sanitary sewer system of the City, including acquiring necessary land and rights of way, in order to provide for its continuing operation and to maintain compliance with federal, state and judicial requirements; directing the City Clerk to notify the responsible election authorities of this election; declaring the City's intention to set rates; declaring the City's intention to reimburse itself from revenue bond proceeds for bond related expenditures; recognizing this ordinance to have an accelerated effective; and establishing an effective date for the voter authorization.
Attachments: 1. Fact Sheet - Revenue Bond Authorization Ordinance 210593 080421, 2. Revenue Bond Authorization Ordinance Presentation FINAL 08-04-21 v10, 3. Fiscal Note - Revenue Bond Authorization Ordinance 210593 080421, 4. 210593 CS to ORG Ord - Com, 5. Authenticated Ordinance 210593 (sub as amended)
COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 210593, AS AMENDED

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Providing for submission to the qualified voters of the City for their approval at an election called for February 8, 2022, the question of authorizing the issuance of sanitary sewer revenue bonds of the City in the principal amount of $750,000,000.00 for the purpose of rehabilitating, improving and extending the sanitary sewer system of the City, including acquiring necessary land and rights of way, in order to provide for its continuing operation and to maintain compliance with federal, state and judicial requirements; directing the City Clerk to notify the responsible election authorities of this election; declaring the City's intention to set rates; declaring the City's intention to reimburse itself from revenue bond proceeds for bond related expenditures; recognizing this ordinance to have an accelerated effective; and establishing an effective date for the voter authorization.

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WHEREAS, an election may be held throughout Kansas City on February 8, 2022; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. ELECTION CALLED. An election is hereby called and shall be held in Kansas City, Missouri, on February 8, 2022, at which election there shall be submitted to the qualified electors of Kansas City, Missouri, the question of authorizing the issuance of sanitary sewer revenue bonds by the City in the principal amount of $750,000,000.00 for the purpose of rehabilitating, improving and extending the sanitary sewer system of the City, including acquiring necessary land and rights of way.

Section 2. BALLOT LANGUAGE. The ballot language shall be in substantially the following form:

QUESTION _____
SHALL THE FOLLOWING BE APPROVED?

Shall the City of Kansas City, Missouri issue sanitary sewer revenue bonds in the principal amount of $750,000,000.00 for the purpose of rehabilitating, expanding and improving of the City's sanitary sew...

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