Monday, February 11, 2019
TKC BREAKING NEWS!!! COUNCIL LADY JOLIE JUSTUS LAUNCHES EMERGENCY ORDINANCE TO LOOT 90-MILLION BUCKS FROM KANSAS CITY TAXPAYERS IN SERVICE OF NEW AIRPORT UNSIGNED SHORT-TERM 'DEAL' FINANCING!!!
One of the biggest deals in Kansas City history is under discussion without a contract or signatures on the dotted line.
To wit . . .
COUNCIL LADY JOLIE JUSTUS SPONSORED AN ORDINANCE FOR KANSAS CITY TAXPAYERS TO FINANCE $90-MILLION WORTH OF NEW AIRPORT WORK WITHOUT A DEAL SIGNED BY MOST AIRLINES!!!
It's also worth noting that this "accelerated effective date" ordinance means that most of the oversight governing KCMO contracts is not built into this pile of cash. It's pretty much like giving away and EPIC sum with only the promise that they'll get it back with reasonable terms. Not so long ago this kind of legislation was called "emergency" ordinance but this blog smacked down City Hall so much on the tactic that they changed the name . . . Nevertheless, it's still an emergency ordinance when it comes to the the rules that govern the policy.
And so we ask . . .
WHY CAN'T COUNCIL LADY JOLIE JUSTUS WAIT FOR FEBRUARY 25TH WHEN HER "DEAL" WITH ALL THE AIRLINES WILL BE SIGNED?!??! OR DOES THIS RUSH LEGISLATION TACITLY ADMIT THAT WAS JUST FAKE NEWS?!?!
To be fair, the airlines have promised to cover this cash once their BILLION+ agreement is signed but they're only willing to commit for 9-years at a time whilst it will take KCMO generations to pay back this kind of money.
For those who care at all about Kansas City flirting with bankruptcy thanks to this bad deal.
REMIND MAYOR SLY & COUNCIL THAT THEY PROMISED THE NEW AIRPORT WOULDN'T COST TAXPAYERS A DIME AND NOT THAT TAXPAYERS WOULD HAVE TO FRONT AIRLINES MILLIONS OF BUCKS AND THEN HOPE TO GET PAID BACK!!!
In every sense of the word this is BETRAYAL of the local democracy and the voters will on the airport.
Here's a link to contact info for Mayor & Council . . .
Check the ordinance proof, with TKC highlights that makes this bad deal a part of City Hall policy . . .
Sponsor: COUNCILMEMBER JUSTUS
Ordinance #190128: "Approving the issuance of Taxable Airport Special Obligation Bond Anticipation Notes (Kansas City International Airport Terminal Modernization Project) Series 2019 by The Industrial Development Authority of the City of Kansas City, Missouri in an aggregate principal amount not to exceed $90,000,000.00 to finance a portion of the costs of the Kansas City International Airport Terminal Modernization Project prior to the issuance of bonds to finance such costs; approving and authorizing certain documents and actions in connection with the issuance of such notes; appropriating revenues in the amount of $3,000,000.00 in Fund No. 8300, the Kansas City Airports Fund; and recognizing an accelerated effective date."
Developing . . .