IN THE COUNTY LEGISLATURE OF JACKSON COUNTY, MISSOURI
Title
AN ORDINANCE appropriating $53,678,801.00 from the undesignated fund balance of the 2016 Special Obligation Bond Capital Projects Fund and $1,072,292.00 from the undesignated fund balance of the 2016 Special Obligation Bond Debt Service Fund, transferring $1,070,292.00 within the 2016 Special Road and Bridge Fund, in acceptance of bond proceeds from the sale and distribution of 2016 Special Obligation Bonds (Rock Island Rail Corridor Authority), and authorizing the Chief Financial Officer to make certain payments related to the bond issuance.
Intro
ORDINANCE NO. 4854, June 6, 2016
INTRODUCED BY Dennis Waits, County Legislator
Body
WHEREAS, by Ordinance 4833, dated March 28, 2016, the Legislature did authorize the sale and distribution of Special Obligation Bonds, Series 2016 (RIRR Right-of-Way Project); and,
WHEREAS, an appropriation and transfer are necessary to place the bond proceeds in the appropriate spending accounts to make funds available for certain acquisition costs, improvements, surveys, and equipment rental contemplated in the bond issuance; and,
WHEREAS, the County Executive recommends said appropriation and transfer; now therefore,
BE IT RESOLVED by the County Legislature of Jackson County, Missouri, that the following appropriation from the undesignated fund balance of the 2016 Special Obligation Bond Capital Project Fund and the 2016 Special Obligation Bond Debt Service Fund and transfer within the 2016 Special Road and Bridge Fund be and hereby are made:
DEPARTMENT/DIVISION CHARACTER/DESCRIPTION FROM TO
Special Obligation Bond Capital Project Fund
Cost of Issuance
014-9999 48010 - Bond Proceeds $53,678,801
014-2810 Undesignated Fund Balance $53,678,801
014-2810 Undesignated Fund Balance $53,578,801
014-8016 56960 - Note Issue $ 689,540
Special Obligation Bond Capital Project Fund
Rock Island Rail Corridor Authority
014-3601 58010 - Land Right of Way $50,129,095
014-3601 56790 - Other Contractual Services $ 575,000
014-3601 56670 - Rent - Misc $ 45,000
014-3601 58020 - Building & Improvements $ 2,238,166
014-9100 56105 - Operating Transfers Out $ 2,000
Special Road and Bridge Fund
Rock Island Rail Corridor Authority
004-3601 56930 - Bond Payout $ 1,070,292
004-9100 56105 - Operating Transfer Out $1,070,292
Special Obligation Bond Debt Service
Rock Island Rail Corridor Authority
073-9999 47070 - Operating Transfer In $1,072,292
073-2810 Undesignated Fund Balance $1,072,292
073-2810 Undesignated Fund Balance $1,072,292
073-3601 56910 - Interest Payments $1,070,292
073-3601 56920 - Fiscal Agent Fees $ 2,000
and,
BE IT FURTHER ORDAINED by the Legislature of Jackson County, Missouri, that the Chief Financial Officer be and hereby is authorized to execute any and all documents necessary to give effect to this Ordinance.
Enacted and Approved
Effective Date: This ordinance shall be effective immediately upon its signature by the County Executive.
APPROVED AS TO FORM:
___________________________ _____________________________
Chief Deputy County Counselor County Counselor
I hereby certify that the attached Ordinance, Ordinance No. 4854 introduced on June 6, 2016, was duly passed on June 13, 2016 by the Jackson County Legislature. The votes thereon were as follows:
Yeas ______9_________ Nays ______0_______
Abstaining ____0_______ Absent _____0_______
This Ordinance is hereby transmitted to the County Executive for his signature.
____________________ ________________________________
Date Mary Jo Spino, Clerk of Legislature
I hereby approve the attached Ordinance No. 4854.
____________________ ________________________________
Date Frank White, Jr., County Executive
Fiscal Note
Funds sufficient for this transfer are available from the source indicated below.
ACCOUNT NUMBER: 004 3601 56930
ACCOUNT TITLE: Special Road and Bridge Fund
Rock Island Rail Corridor Authority
Bond Pay Out
NOT TO EXCEED: $1,070,292.00
Funds sufficient for this appropriation are available from the sources indicated below.
ACCOUNT NUMBER: 014 2810
ACCOUNT TITLE: Special Obligation Bond Capital Project Fund
Undesignated Fund Balance
NOT TO EXCEED: $53,678,801.00
ACCOUNT NUMBER: 073 2810
ACCOUNT TITLE: Special Obligation Bond Debt Service Fund
Undesignated Fund Balance
NOT TO EXCEED: $1,072,292.00
______________________ _______________________________
Date Chief Financial Officer