RESOLUTION NO.  6647

A RESOLUTION OF THE CITY OF LAWRENCE, KANSAS, ORDERING THE IMPROVEMENT AND AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS FOR CERTAIN MAIN TRAFFICWAY IMPROVEMENTS INCLUDING, BUT NOT LIMITED TO MILLING, OVERLAY, CURBING, GUTTERING, PAVING, ACQUIRING RIGHTS-OF-WAY AND EASEMENTS, SIDEWALK AND PEDESTRIAN PATH CONSTRUCTION, INSTALLATION OF TRAFFIC CONTROL DEVICES - INCLUDING SIGNS, SIGNALS, CABINETS, CONTROLLERS AND RELATED EQUIPMENT, AND ALL RELATED DESIGN, ENGINEERING AND INSPECTION WORK.

BE IT RESOLVED BY THE GOVERNING BODY OF THE CITY OF LAWRENCE, KANSAS:

Section 1.  The Governing Body hereby finds that the following designated streets, or portions thereof, have been designated a major or main Trafficway within the City of Lawrence, Kansas, pursuant to K.S.A. 12-685 (Code of the City of Lawrence, Kansas, Section 17-501 et seq.), and amendments thereto:

            Kasold Street, Bob Billings Parkway (15^th Street) to Clinton Parkway

Section 2.     The Governing Body hereby authorizes the construction of certain main trafficway improvements on Kasold Street, from Clinton Parkway to Bob Billings Parkway (15th Street), including, but not limited to milling, overlay, curbing, guttering, paving, acquiring rights-of-way and easements, sidewalk and pedestrian path construction, installation of traffic control devices - including signs, signals, cabinets, controllers and related equipment, and all related design, engineering and inspection work  (the "Improvements") and authorizes the issuance of temporary notes and general obligation bonds pursuant to K.S.A. 12-685 et seq. to pay the costs thereof.

Section 3.  The estimated cost for the Improvements is $5,110,000 plus costs of issuance and interest on any temporary financing.  The cost of the Improvements shall be paid from all lawful sources including the issuance of general obligation bonds pursuant to K.S.A. 12-685 et seq. and other lawful authority. Said estimated cost of the Improvements as above set forth is hereby increased at the pro-rata rate of 1 percent per month from and after the adoption date of this Resolution, exclusive of the costs of temporary financing.

Section 4.  The City expects to design, construct and to make additional capital expenditures on and after the date of adoption of this resolution in connection with the Improvements, and the City intends to reimburse itself for such expenditures with the proceeds of the general obligation bonds and/or temporary notes in the maximum principal amount of $5,110,000 plus costs of issuance and plus interest on any temporary financing.

Resolution No. 6630 is repealed.

Adopted on this 2nd day of May, 2006.

APPROVED

                                                                        ______________________________

                                                                        Mike Amex, Mayor

ATTEST:

___________________________________

Frank S.  Reeb, City Clerk