IN THE COUNTY LEGISLATURE OF JACKSON COUNTY, MISSOURI
Title
AN ORDINANCE appropriating $915,000.00 from the fund balance of the 2013 Special Obligation Bond Debt Service Fund and authorizing the County Executive to provide notice to the bond trustee to call for early redemption of all outstanding 2010 B Special Obligation Bonds (MyARTS Project).
Intro
ORDINANCE NO. 4506, February 19, 2013
INTRODUCED BY Dan Tarwater, County Legislator
Body
WHEREAS, by Ordinance 4273, dated November 29, 2010, the Legislature did authorize the issuance, sale, and delivery of not to exceed $1,180,000.00 principal amount of tax exempt special obligation bonds (MyARTS Building Project) Series 2010 to finance the costs of capital improvements to the MyARTS building; and,
WHEREAS, the County's underwriter has advised that the County can save substantial interest costs by an early redemption of these bonds; and,
WHEREAS, the funds necessary for the early redemption of the 2010 B Special Obligation Bonds were appropriated in the 2013 Anti-Drug Sales Tax Fund; and,
WHEREAS, the Director of Finance and Purchasing projects that $915,000.00 will be necessary to redeem the bonds; and,
WHEREAS, an appropriation is necessary to place the bond funds in the proper account; now therefore,
BE IT ORDAINED by the County Legislature of Jackson County, Missouri, that the following appropriation be made from the undesignated fund balance of the 2013 Special Obligation Bond Debt Service Fund:
DEPARTMENT/DIVISION CHARACTER/DESCRIPTION FROM TO
Special Obligation Bond Debt Service Fund
Non-Departmental
073-9999 47070 - Operating Transfers in $915,000
073-2810 Undesignated Fund Balance $915,000
073-2810 Undesignated Fund Balance $915,000
Special Obligation Bond Debt Service Fund
2010 B Special Obligation
073-8061 56335 - Escrow of Refunded Debt $915,000
BE IT FURTHER ORDAINED by the County Legislature of Jackson County, Missouri, that the County Executive be and hereby provi...
Click here for full text