RESOLUTION NO. 6670

 

A RESOLUTION OF THE CITY OF LAWRENCE, KANSAS, ORDERING THE IMPROVEMENT AND AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS FOR CERTAIN MAIN TRAFFICWAY IMPROVEMENTS.

 

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:

 

Michigan Street, 9th Street to the North City Limits

 

            Section 2.       The Governing Body hereby authorizes the construction of the following main trafficway improvements:

 

Construction of a 6' sidewalk on the west side of the North Michigan Street Bridge, including, but not limited to sidewalk and pedestrian path construction and all related design, engineering and inspection work 

 

(the "Improvements").  The Governing Body also 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 $200,000 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 make 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 one or more series of general obligation bonds and/or temporary notes in the maximum principal amount of $200,000 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.

           

            Adopted on this _____ day of ______, 2006.

 

                                                                        APPROVED

 

                                                                        ______________________________

                                                                        Mike Amyx, Mayor

 

ATTEST:

 

___________________________________

Frank S.  Reeb, City Clerk