File #: 230545    Version: Name:
Type: Ordinance Status: Passed
File created: 6/20/2023 In control: Council
On agenda: 6/29/2023 Final action: 6/29/2023
Title: Sponsor: Director of the Finance Department Establishing Fund No. 3449, the Special Obligation Series 2024A Streetcar Project Fund in the records of the City of Kansas City; estimating revenues in the amount of $36,717,258.00 in Fund No. 3449, the Special Obligation Series 2024A Streetcar Project Fund; appropriating that amount to the Streetcar Extension Bonds accounts, Streetcar Extension Grant account and transfer account; designating requisitioning authority; authorizing the Director of Finance to close project accounts upon completion; increasing revenues in the amount of $4,949,000.00 in the transfer from Fund No. 3449 account of Fund No. 2085 Streetcar Fund; and reducing appropriations in the amount of $84,000.00 in the 23-DS Streetcar Account of Fund No. 2085, the Streetcar Fund.
Sponsors: Director of Finance
Attachments: 1. Docket Memo 3449 SO 2024A Bonds, 2. Copy of Approp Admin Form-Streetcar Advance Appropriation Ordinance, 3. Authenticated Ordinance 230545 CS
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[COMMITTEE SUBSTITUTE FOR] ORDINANCE NO. 230545

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Sponsor: Director of the Finance Department

Establishing Fund No. 3449, the Special Obligation Series 2024A Streetcar Project Fund in the records of the City of Kansas City; estimating revenues in the amount of $36,717,258.00 in Fund No. 3449, the Special Obligation Series 2024A Streetcar Project Fund; appropriating that amount to the Streetcar Extension Bonds accounts, Streetcar Extension Grant account and transfer account; designating requisitioning authority; authorizing the Director of Finance to close project accounts upon completion; increasing revenues in the amount of $4,949,000.00 in the transfer from Fund No. 3449 account of Fund No. 2085 Streetcar Fund; and reducing appropriations in the amount of $84,000.00 in the 23-DS Streetcar Account of Fund No. 2085, the Streetcar Fund.

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WHEREAS, the Main Streetcar Rail Transportation Development District ("TDD") has been formed, approved by voters within the district, and determined to be sufficient for providing necessary local funding; and

WHEREAS, the City has developed a financial plan using a combination of local, state, and Federal funds to finance the costs of the Project and, in accordance with the plan, has requested Federal financial assistance by the U.S. Government pursuant to the laws codified at 49 U.S.C. Chapter 53; and

WHEREAS, the U.S. Government, acting through the Federal Transit Administration ("FTA") has entered into a Full Funding Grant Agreement ("FFGA") to support final design and construction of the project up to a Maximum Federal Section 5309 Capital Investment Grants Program Financial Contribution of $174,059,270.00, subject to all the terms and conditions set forth in the FFGA; and

WHEREAS, Ordinance No. 210162 authorized the estimation and appropriation of $10,060,000.00 of Federal Transit Administration grant proceeds and special obligation bond proceeds; and

WHEREAS, Ordi...

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