1. Committee Substitute for Ordinance No. 140134 Finance, Governance & Ethics Committee February 26, 2014

2. Purpose Authorize the issuance of special obligation bonds ◦ Up to $124.5 million  Series 2014A – Downtown Streetcar Project  Series 2014B – Various projects  Series 2014C – KC Live partial restructuring

3. Series 2014A Downtown Streetcar Up to $71.5 million par to fund: ◦ $62.9 million construction fund ◦ Debt service reserve ◦ Costs of issuance Other sources of funds for $114 million project ◦ Federal Grants - $37.1 million  TIGER - $20 million  CMAQ/STP - $17.1 million ◦ Water Services Department - $14 million  For utility relocation work

4. Series 2014B Projects ADA Project - $5 million ◦ Required improvements in conjunction with a settlement with the Department of Justice to bring City buildings in compliance with the Americans with Disabilities Act ◦ Building entrances, hardware, restrooms, signage, and parking lot improvements Traffic Signals Project - $3.75 million ◦ Improvements to 15 intersections Enterprise Permitting System Project - $7 million ◦ Replace current KIVA system ◦ Will allow for standardization of permitting processes across multiple departments to improve customer service and create operational efficiencies

5. Series 2014C KC Live Partial Restructuring Par Amount $35.5 million Part of FY2014-15 Submitted Budget Partial Refunding of IDA Series 2005A and Series 2011A Bonds ◦ Restructures near term principal ◦ Extends final maturity from FY2033 to FY2040 for a portion of the bonds issued for KC Live Net present value (NPV) loss of 7.8% ◦ Not within codified Debt Policy guidelines ◦ Reduces near term General Fund subsidy for the project

6. Series 2014C KC Live Partial Restructuring Estimated debt service savings in FY2015 through FY2019 ◦ FY2015 - $7 million ◦ FY2016 - $6.6 million ◦ FY2017 - $5.4 million ◦ FY2018 - $3.9 million ◦ FY2019 - $2.1 million Additional debt service in FY2020 through FY2031 - $1.7 million Additional debt service in FY2032 through FY2040 - $4.6 million

7. Ordinance Provisions Authorizes documents related to the issuance of the bonds Allows for certain parameters so no Council action is required on pricing day Committee substitute and emergency clause ◦ Approves contract for purchase and implementation of enterprise permitting system and allows project to proceed in advance of the bond sale ◦ Allows the ADA Project to proceed in advance of the bond sale

8. Finance Professionals Co-bond counsel ◦ Kutak Rock, LLP ◦ Hardwick Law Firm (certified M/DBE) Disclosure counsel ◦ Gilmore & Bell, P.C. ◦ Martinez, Madrigal & Machicao, LLC (certified MBE) Financial advisor ◦ First Southwest Company ◦ Moody Reid Financial (certified M/DBE)

9. Underwriting Team Oppenheimer & Co. George K. Baum & Company Stifel Valdes & Moreno, Inc. (certified M/DBE)

10. Calendar January 29Rating agency meetings February 28Receive ratings March 11Bond pricing March 25Closing