Title
An Ordinance Calling an Election to Authorize the Issuance of General Obligation Bonds for the City of Lee's Summit, Missouri, Related to Curb Replacements and Improvements.
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 Curb Replacements and Improvements.
Key Issues:
City staff has prepared this ordinance and ballot language for the proposed curb replacement and improvement "No Tax Increase" bond initiative in an amount to be determined as directed by the Mayor and Council during the May 7, 2019 consideration of this matter. If the Mayor and Council determine the pursuit of an identified amount for curb replacement is desired, the Mayor and Council may insert the determined amount into the ordinance.
Proposed City Council Motion:
I move for second reading, An Ordinance Calling an Election to Authorize the Issuance of General Obligation Bonds for the City of Lee's Summit, Missouri, Related to Curb Replacements and Improvements and inserting $ (state amount) within Sections 1 & 2 and the notice of election/ballot question within said ordinance.
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 as well as the May 7, 2019 Regular Session meetings. The Mayor and Council directed staff to pre...
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