Title
An Ordinance Calling an Election to Authorize the Issuance of General Obligation Bonds for the City of Lee's Summit, Missouri, Related to Improvements to the City's Wireless and Fiber Optics Communication Network Systems.
Body
Issue/Request:
An Ordinance Calling an Election to Authorize the Issuance of General Obligation Bonds for the City of Lee's Summit, Missouri, Related to Improvements to the City's Wireless and Fiber Optics Communication Network Systems.
Key Issues:
City staff has prepared the proposed ordinance and ballot language for the proposed wireless and fiber optics communication network "No Tax Increase" bond initiatives in the amount of $975,000 as identified by the Mayor and City Council for the August 6, 2019 special election.
Proposed City Council Motion:
An Ordinance Calling an Election to Authorize the Issuance of General Obligation Bonds for the City of Lee's Summit, Missouri, Related to Improvements to the City's Wireless and Fiber Optics Communication Network Systems - I move for second reading.
Background:
On January 15, 2019 City staff provided the Mayor and City Council with a presentation regarding the City's debt issuance capacity. The Mayor and City Council directed City staff prepare a listing of potential No Tax Increase (NTI) bond projects that could be considered for an August 2019 NTI bond election to maintain the City's current tax levy. The Mayor and City Council directed staff to work with the Community and Economic Development Committee (CEDC) to develop a recommendation(s) to present to the Mayor and City Council for an August NTI election. City staff presented proposed projects & initiatives to the CEDC on March 13th and to the Mayor and Council at the April 9, 2019 Work Session.
The Mayor and City Council identified initiatives for staff to prepare ordinance(s) and ballot question(s) which are being presented for consideration.
The City has strived to maintain a consistent tax levy for debt service since the...
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