Post by James Abbott

A bill of sale and a quit claim deed was recorded on April 28, 2016 by Jackson County, Missouri Recorder of Deeds for the County’s purchase of SEC 21; TWN 47; RNG 31; Q1 NW; PRT OF WINGATE TO LEEDS BRANCH OF UNION PAC RR CO from Union Pacific Railroad (UPRR) for $50,129,095. US Surface Transportation Board (STB) granted the County an exemption to acquire & operate the aforementioned property on 2/4/2016. STB revoked this exemption on 7/31/2019 reverting rights to the aforementioned property to UPRR. The County issued $52 Million 2016 Series Municipal Bonds regulated by U.S. Securities and Exchange Commission to acquire the property underwritten by Ameritas Investment Partners, Jack Holland, Investment Banker. The County violated Article 6,§23, State of Missouri Constitutional Limits to Municipal Authority by entering unto a partnership with Kansas City Area Transportation Authority to acquire the Corridor utiizing the issuance of Municipal Bonds. Presumably, the County’s purchase of the aforementioned property was illegal under applicable Missouri law. City of Lee's Summit, MO and City of Kansas City, MO invested $2M and $2.5M respectively into development ( trail construction) of the aforementioned illegally acquired property. Constituents deserve more.