IN THE COUNTY LEGISLATURE OF JACKSON COUNTY, MISSOURI
Title
AN ORDINANCE appropriating $1,100,000.00 from the unappropriated surplus of the 1998 General Fund and authorizing the County Executive to execute a Master Equipment Lease Purchase Agreement with Heller Financial Leasing, Inc., of Kansas City, Missouri, for the lease/purchase financing of the tax collection software package for use by the Collection Department, authorized by Resolution 12031.
Intro
ORDINANCE #2802, April 27, 1998
INTRODUCED BY John Patrick Burnett, County Legislator
Body
WHEREAS, by Resolution 12031, dated February 2, 1998, the Legislature did award a contract for the furnishing of a tax collection software package for use by the Collection Department to Asix Corporation of Belleview, WA, in the actual amount of $1,310,000; and,
WHEREAS, the Director of Finance now recommends that $1,100,000 of this amount be financed by a lease/purchase, over a five-year term; and,
WHEREAS, the Director of Finance has solicited proposals from financial institutions for this financing and recommends that the financing be awarded to Heller Financial Leasing, Inc., of Kansas City (Jackson County), Missouri, as it has submitted the most favorable proposal, at an interest rate of 4.86% subject to adjustment at time of closing; now therefore,
BE IT ORDAINED by the County Legislature of Jackson County, Missouri, that the following appropriation be and hereby is made from the unappropriated surplus of the 1998 General Fund:
DEPARTMENT/DIVISION CHARACTER/DESCRIPTION FROM TO
Increase Revenue $1,100,000
Unappropriated Surplus $1,100,000
Unappropriated Surplus $1,100,000
Division of Operations
Management Information
Systems Software $1,100,000
and,
BE IT FURTHER ORDAINED that a contract for the lease/purchase financing of the tax collection software package for use by the Collection Department awarded pursuant to Resolution 12031, dated February 2, 1998, be and hereby is awarded to Heller Financial Leasing, Inc., of Kansas City, Missouri, at an interest rate of 4.86% over five years, subject to adjustment at time of closing; and,
BE IT FURTHER ORDAINED that the County Executive be and hereby is authorized to execute a Master Equipment Lease Purchase Agreement and any other documents necessary to the financing of the project in a form to be approved by the County Counselor; and,
BE IT FURTHER ORDAINED that the Director of the Department of Finance is authorized to make all payments, including final payment on the agreement...Attorney
Effective Date: This ordinance shall be effective immediately upon its signature by the County Executive.
APPROVED AS TO FORM:
_____________________________ _________________________________
County Counselor
I hereby certify that the attached Ordinance, Ordinance #2802 introduced on April 27, 1998 was duly passed on _________May 18____________, 1998 by the Jackson County Legislature. The votes thereon were as follows:
Yeas ______7_________ Nays ______0_______
Abstaining ____0_______ Absent _____2_______
This Ordinance is hereby transmitted to the County Executive for her signature.
____________________ ________________________________
Date Mary Jo Brogoto, Clerk of Legislature
I hereby approve the attached Ordinance #2802.
____________________ ________________________________
Date Katheryn J. Shields, County Executive
Fiscal Note
Funds sufficient for this appropriation are available from the source indicated below.
ACCOUNT NUMBER: 001 2810
ACCOUNT TITLE: General Fund
Unappropriated Surplus
NOT TO EXCEED: $1,100,000.00
______________________ ____________________________________
Date Director of Department of Finance