Since the approval and signing of the Lease Agreement with UMB Bank to pay for the purchase and “button up” costs for the King Louie Building totaling $3,600,000 8788metcalfleaseagreement on February 9, 2012 the here until now question loomed. How was the $2,900,000 Principal payment due on September 1, 2015 going to be paid?
We must first ignore that when we hurriedly purchased King Louie in December 2011 with ca$h from Reserves we threatened our Bond Rating. Less than two months later we leased King Louie to UMB Bank for ca$h returned to Reserves saving our Bond Rating. Now let’s ignore for a brief moment that we have already paid $120,576 Interest Only for a vacant non-tax generating building with yet another $17,400 Interest Only due. Let’s ignore for another brief moment that this vacant non-tax generating building consumed several hundred hours of County Staff time and tens of thousands more dollars in consultant fees to find this once asbestos laden building a purpose. We still end up with the lingering question…………….
How was the $2,900,000 Principal payment due on September 1, 2015 going to be paid?
Earlier today June 4, 2015 King Louie shared the answer with us peasants.
NO JOKE FOLKS vote scheduled for June 11, 2015 67574906042015101756410
Safe to say that the “Court Jester” positions have been filled.
“Life, Liberty and the Pursuit of Anyone Who Threatens It”
Henpecked Acres One Nation
14850 W. 159th St.
Olathe, Ks. 66062