Ordinance No Special Obligation Bonds Finance and Governance Committee March 16, 2016

Purpose Authorize the issuance of special obligation bonds ◦ Up to $400 million  Series 2016A – New Money, Tax Exempt  Series 2016B – New Money, Taxable  Series 2016C – Refunds KCMAC 2006A and 2008A  Series 2016D – Refunds 2008B  Series 2016E – Refunds 2008C, Small New Money Tax Exempt Portion

Series 2016A New Money Tax Exempt Up to $68.8 million to fund: ◦ ADA Improvements - $24.7 million ◦ Computer Aided Dispatch System - $9.3 million ◦ North Patrol - $4.5 million ◦ Various Capital Improvements - $25.2 million ◦ Parks Department Headquarters - $2.5 million ◦ Urban Youth Baseball Academy - $2.0 million ◦ Budget System - $0.6 million ◦ Costs of Issuance

Series 2016A Capital Improvement Projects - $25.2 Million Bartle Hall Lighting - $2.0 million Blue River Trails Project - $5.0 million Road and Bridge Improvements - $18.2 million ◦ Pleasant Valley Road / Searcy Creek - $3.0 million ◦ MO Route 210 / I $2.0 million ◦ Englewood Street Upgrade - $2.0 million ◦ Northwood Road / 56 th Street Study - $1.0 million ◦ NW Prairie View / 62 nd Street to 64 th Street - $0.75 million ◦ NW 72 nd Street from I-29 to Overland Drive - $0.8 million ◦ 22 nd and 23th Street Corridor - $2.237 million ◦ Front Street from I-435 to I-35 - $1.125 million

Series 2016A Capital Improvement Projects - $25.2 Million - (cont’d) Road and Bridge Improvements - $18.2 million – (cont’d) ◦ Gregory Boulevard to Lee’s Summit City Limits - $0.2 million ◦ 135 th Street, Phase II - $1.5 million ◦ Paseo Bridge over Brush Creek - $0.6 million ◦ Broadway Boulevard Bridge / 30 th Street – $0.8 million ◦ Kenneth Road Bridge / Blue Ridge Boulevard - $0.68 million ◦ US 169 / I-70 Loop Study - $0.85 million ◦ Tiffany Springs Parkway Street Lighting - $0.65 million

Series 2016B New Money Taxable Up to $33.25 million to fund: ◦ Two Light Downtown Residential - $17.5 million ◦ Linwood Land Acquisition - $1.2 million ◦ Parking Garage Equipment - $1.85 million ◦ Paseo Gateway Land Acquisition - $2.7 million ◦ Dangerous Buildings Demolitions - $10.0 million

Series 2016C Par amount $31.31 million ◦ Refunds KCMAC 2006A - $ million  Originally financed Bartle Hall, Music Hall and Municipal Auditorium Parking  Present value savings – $0.88 million or 5.79% ◦ Refunds Special Obligation 2008A – $ million  Originally financed Columbus Park, 2 nd Street, Swope Ridge Geriatric Center and Tow Lot  Present value savings - $1.1 million or 6.88%

Series 2016D Par amount $ million ◦ Refunds Special Obligation 2008A – $26.93 million  Originally financed East Village Project  Present value savings - $2.26 million or 9.09%

Series 2016E Par amount $ million ◦ Fund Sprint Arena capital improvements  $6.794 million – facilities, information technology, public safety, administrative and wi-fi equipment ◦ Refunds Special Obligation 2008C – $ million  Originally financed Downtown Arena Project  Present value savings - $16.5 million or 9.50%

Ordinance Provisions Authorizes issuance of the bonds and execution of necessary documents Renames various funds and creates one new fund Transfers appropriations between funds ◦ Tax-exempt to taxable ◦ Convention center hotel project to new fund Advance appropriates additional projects ◦ Sprint Center improvements ◦ Public parking ◦ Building demolitions ◦ Addition to North Patrol project

Ordinance Provisions Authorizes other actions related to the sale of bonds Allows for certain parameters so no Council action is required on pricing day Accelerated effective date and request for advance ◦ Allows projects to proceed in advance of the bond sale ◦ Allows distribution of offering document next week to meet bond issuance calendar

Finance Professionals Co-bond counsel ◦ Kutak Rock, LLP ◦ Hardwick Law Firm (certified M/DBE) Disclosure counsel ◦ Kutak Rock, LLP ◦ Hardwick Law Firm (certified M/DBE) Financial advisor ◦ First Southwest Company ◦ Moody Reid Financial Advisors (certified M/DBE)

Underwriting Team Citigroup Ameritas D.A. Davidson Stern Brothers Stifel, Nicolaus Valdes & Moreno, Inc. (certified M/DBE)

Calendar March 11 & 14 Rating agency meetings March 17 Bond ordinance effective March 24 Receive ratings April 7 Bond pricing April 19 Closing