IN THE COUNTY LEGISLATURE OF JACKSON COUNTY, MISSOURI
Title
AN ORDINANCE authorizing the County to amend the Trust Indenture and the Lease Agreement related to the $12,210,000.00 principal amount of Jackson County, Missouri, Public Facilities Authority Leasehold Revenue Refunding and Improvement Bonds (Jackson County, Missouri, Capital Improvements Project) Series 1994, and authorizing certain other actions in connection with the amendment of said documents.
Intro
ORDINANCE #2534, May 6, 1996
INTRODUCED BY John Patrick Burnett, County Legislator
Body
WHEREAS, Jackson County, Missouri (the "County"), is authorized pursuant to Article II, Section 33 of the County's Constitutional Home Rule Charter (the "Charter") to contract and cooperate with any private person, firm, association, corporation, or foundation for the planning, development, construction, acquisition, or operation of any public improvement or facility; and,
WHEREAS, the Jackson County, Missouri, Public Facilities Authority (the "Authority"), is a not for profit corporation duly organized and existing under The General Not for Profit Corporation Law, Chapter 355 of the Revised Statutes of Missouri, as amended, for the purpose of benefitting and carrying out the purposes of the County, by providing for the acquisition, construction, improvement, extension, repair, remodeling, renovation and financing of public sites, buildings, facilities, furnishings and equipment for the use of the County; and,
WHEREAS, the Authority and the County have determined that it is within the authority of The General Not for Profit corporation Law and within the public purposes of the Charter, that the Authority lease from the County certain real estate located within the geographic limits of the County (the "Project Site"), and have authorized the issuance of the Jackson County, Missouri, Public Facilities Authority Leasehold Revenue Refunding and Improvement Bonds (Jackson County, Missouri, Capital Improvements Project) Series 1994, in the principal amount of $12,210,000 (the "Bonds"), pursuant to a Trust Indenture (the "Indenture") dated as of June 1, 1994 between the Authority and Mercantile Bank of Kansas City for the purpose of providing funds to (a) refund the Authority's Insured Leasehold Revenue Bonds (Jackson County, Missouri, Capital Improvements Project) Series 1986 (the "Series 1986 Bonds") to refinance the costs of certain buildings and improvements located on the Project Site and other facilities and improvements of the County, and (b) finance the costs to acquire, construct, repair, renovate, furnish and equip additional facilities located on the Project Site (the "Project," said Project and the Project Site being collectively referred to herein as the "Facilities"), and has authorized the Authority to lease the Facilities to the County pursuant to the Lease Agreement dated as of June 1, 1994 (the "Lease"); and,
WHEREAS, the County Legislature of the County further finds and determines that it is necessary and desirable in connection with the issuance of the Bonds that the County amend certain documents related to the Bonds, and that the County take certain other actions and approve the execution of certain other documents as herein provided; now therefore,
BE IT ORDAINED by the County Legislature of Jackson County, Missouri, as follows:
Section 1. Authorization of Documents. The County is hereby authorized to enter into the Amendment to Trust Indenture and Lease Agreement in substantially the form presented to and reviewed by the County Legislature of the County at this meeting (copies of which document shall be filed in the records of the County), with such changes therein as shall be approved by the County Executive, County Counselor and Clerk of the Legislature, such officers' signatures thereon being conclusive evidence of their approval thereof.
Section 2. Further Authority. The officers, agents and employees of the County, including the County Executive and the Clerk of the County Legislature, shall be, and they hereby are, authorized and directed to execute all documents and take such actions as they may deem necessary or advisable in order to carry out and perform the purposes of this Ordinance, and to carry out, comply with and perform the duties of the County with respect to the Indenture (as amended) and the Lease (as amended), to make alterations, changes or additions in the foregoing agreements, statements, instruments and other documents herein approved, authorized and confirmed which they may approve, and the execution or taking of such action shall be conclusive evidence of such necessity or advisability.
Section 3. Effective Date. This Ordinance shall take effect and be in full force immediately after its passage by the County Legislature.
Attorney
Effective Date: This ordinance shall be effective immediately upon its signature by the County Executive.
Approved as to Form:
By:
County Counselor
Certificate of Passage:
I hereby certify that the attached Ordinance, Ordinance # 2534 introduced on May 6, 1996 was duly passed on ________May 3________, 1996, by the Jackson County Legislature. The votes thereon were as follows:
Yeas _______8_________ Nays _______0_________
Abstaining _____0_______ Absent ______1________
This Ordinance is hereby transmitted to the County Executive for her signature.
Date Mary Jo Brogoto, Clerk of the Legislature
I hereby approve the attached Ordinance #2534.
Date Katheryn J. Shields, County Executive