IN THE COUNTY LEGISLATURE OF JACKSON COUNTY, MISSOURI
Title
A RESOLUTION expressing the support of the Legislature for the rolling roof and the assignment of its naming right at the Harry S Truman Sports Complex.
Intro
RESOLUTION # 15814, March 6, 2006
INTRODUCED BY Henry C. Rizzo, Dan Tarwater, Fred Arbanas, Scott Burnett,
Rhonda L. Shoemaker, Bob Spence, Eugene Standifer Jr.,
and Dennis Waits, County Legislators
Body
WHEREAS, by Ordinance 3734, dated January 20, 2006, the Legislature submitted to the qualified voters of the County at a special election to be held on April 4, 2006, Question No. 2, which would authorize the imposition of a compensating use tax at the same rate as the County's combined general sales tax rate; and,
WHEREAS, under the ordinance, the County is required to use the proceeds of this tax for the purpose of operating and maintaining a rolling roof over Arrowhead and Kauffman Stadiums at the Harry S Truman Sports Complex, with any excess proceeds to be used to retire debt from any obligations issued to finance other improvements at the sports complex; and,
WHEREAS, the cost of the rolling roof project is estimated at $190 - 235 million; and,
WHEREAS, it is in the intent of the Legislature that the County will finance a maximum of $170 million of the project cost out of the use tax's proceeds; and,
WHEREAS, thereafter, in exchange for naming and advertising rights associated with the rolling roof, the Kansas City Chiefs will pay the balance of the cost of the roof, including the amount of any cost overrun; and,
WHEREAS, all of these provisions will be the subject of a formal Participation Agreement among the County, Kansas City Chiefs, and Jackson County Sports Complex Authority, expected to be approved by March 31, 2006; and,
WHEREAS, under this arrangement, the Chiefs will then have the ability to allocate the revenue stream from the naming rights; and,
WHEREAS, the Chiefs have i...
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