One of the biggest financial deals in Kansas City history offers very few specifics to voters according to an AWESOME INSIDER and denizen of our blog community.
To wit . . .
CHECK THE DOX FOR KANSAS CITY'S UPCOMING BOND AND TAX REQUESTS . . . THERE'S VERY LITTLE DOCUMENTATION OF WHAT POLITICOS PLAN TO DO WITH THE MONEY!!!
Vague deets are part of politics in Kansas City but insiders fear this latest ask is little more than a blank check.
Here's the word:
"$800 million bond issue with a worthless fact sheet. NO LIST OF PROJECTS!!! Also the 1-cent sales tax for capital improvements now extended for 20 years. Minimal accountability now. It's a future slush fund. Like the general fund bailing out P&L district."
Do your own research, we've provided the links . . . Both of these issues will be put before Council Committees in just a few moments and probably pushed through without any consideration for just how little information is shared with voters who will be asked for their approval.
Take a peek:
PROPOSED AGENDA
160877 Calling an election on April 4, 2017, for the purpose of authorizing the issuance of an amount not to exceed $800,000,000.00 in General Obligation Bonds; directing the City Clerk to provide notice of the election; declaring the City’s intention to reimburse itself from bond proceeds for bond related expenditures; and recognizing this ordinance as having an accelerated effective date.
160876 Enacting a new Section 68.449, Code of Ordinances, entitled Sales tax (2019) to extend for 20 years the City’s current 1% sales tax used for capital improvements and to codify dedication of 35% of the available annual sales tax receipts for neighborhood conservation, maintenance and improvements divided equally among Council districts and 65% of the available annual sales tax receipts for capital maintenance, pursuant to Sections 94.500 through 94.550; reaffirming the role of the Public Improvements Advisory Committee; providing for submission of this ordinance to the qualified voters of the City for their approval at a special election called for Tuesday, April 4, 2017; authorizing and directing the City Clerk to notify the responsible election authorities of this election; authorizing and directing the City Clerk to notify the Missouri Director of Revenue if the proposal is approved by the voters; and recognizing this ordinance as having an accelerated effective date.
Developing . . .
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