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File #: 220200    Version: Name:
Type: Ordinance Status: Passed
File created: 2/23/2022 In control: Council
On agenda: 4/21/2022 Final action: 4/21/2022
Title: Establishing Fund No. 3523, the General Obligation Series 2023A Question 1 Bond Fund in the records of the City of Kansas City, Missouri; estimating and appropriating $20,000,000.00 from the Unappropriated Fund Balance of the General Obligation Series 2023A Question 1 Bond Fund; designating requisitioning authority; 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; and establishing the effective date of this ordinance.
Attachments: 1. Fiscal Note GO Bond Ordinance, 2. Fact Sheet Template - GO23 Bond Ordinance, 3. 220200 cs.to org ord-com, 4. Authenticated Ordinance 220200 C.S, 5. Project Manual on File
COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 220200

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Establishing Fund No. 3523, the General Obligation Series 2023A Question 1 Bond Fund in the records of the City of Kansas City, Missouri; estimating and appropriating $20,000,000.00 from the Unappropriated Fund Balance of the General Obligation Series 2023A Question 1 Bond Fund; designating requisitioning authority; 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; and establishing the effective date of this ordinance.

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WHEREAS, Ordinance No. 160877 put before the voters the question of enacting a basic maintenance and capital improvements program for 20 additional years by the extension of the current 1% general sales tax used for capital improvements and maintenance; and

WHEREAS, in a Special Election called on April 4, 2017, the voters of the City of Kansas City, Missouri approved Question 1 to be used for funding Streets, Bridges and Sidewalks, Question 2 to be used for Flood Control and Question 3 to be used for Public Buildings; and

WHEREAS, the City Manager's FY2021-22 Adopted Budget included $20,000,000 in additional funding from Question 1 for Street Resurfacing with the intent to fund at this level for a total of five years for a total additional investment of $100,000,000 to improve road conditions throughout the City; NOW THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That Fund No. 3523, the General Obligation Series 2023A Question 1 Bond Fund, is hereby established in the records of the City of Kansas City, Missouri.

Section 2. That the revenue in the following account of Fund No. 3523 General Obligation Series 2023A Question 1 Bond Fund, is hereby estimated in the following amount:

AL-3523-120000-590000 Bond Proceeds $20,000,000.00

Section 3. That the sum of $20,000,000.00 for Question 1 ...

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