IN THE COUNTY LEGISLATURE OF JACKSON COUNTY, MISSOURI
Title
AN ORDINANCE approving the issuance of not to exceed $5,000,000 principal amount of Jackson County, Missouri, Tax Anticipation Notes, Series 2009; authorizing and approving certain documents in connection with the issuance of said notes; and authorizing certain other actions in connection with the issuance of said notes.
Intro
ORDINANCE #4174, November 16, 2009
INTRODUCED BY Dennis Waits, County Legislator
Body
WHEREAS, Jackson County, Missouri (the "County") operates pursuant to its county charter (the "County Charter"), and is a political subdivision of the State of Missouri, duly created, organized and existing under and by virtue of the Constitution and laws of the State of Missouri; and
WHEREAS, the County is authorized under the provisions of Article VI, Section 26 of the Missouri constitution, Article II Section 16 of its County Charter and Chapter 5 of the County Code to borrow money in an amount not greater than 95% of the anticipated collections of taxes and revenues for the current fiscal year and to deliver its notes to evidence such loan; and,
WHEREAS, the County anticipates the property taxes yet to be collected before the end of the current fiscal year is more than $35,000,000; and,
WHEREAS, the County does not expect its current funds and revenue receipts will be sufficient to pay all obligations that may be payable before the end of the year; and,
WHEREAS, it is hereby found and determined that it is necessary and advisable and in the best interest of the County and of its inhabitants at this time to authorize the issuance and delivery of notes for the purposes aforesaid as herein provided; now therefore,
BE IT ORDAINED by the County Legislature of Jackson County, Missouri, as follows:
ARTICLE I
DEFINITIONS
Section 101. Definitions of Words and Terms. In addition to words and terms defined elsewhere herein, the following words and terms as used in this Ordinance...
Click here for full text