RESOLUTION NO. 6726

A RESOLUTION OF THE CITY OF LAWRENCE, KANSAS, AUTHORIZING THE ISSUANCE OF ADDITIONAL GENERAL OBLIGATION BONDS FOR CERTAIN MAIN TRAFFICWAY IMPROVEMENTS WITHIN THE CITY OF LAWRENCE, KANSAS.

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 Drive from Bob Billings Parkway to W. 22^nd Street

            Section 2.  The estimated additional cost for the improvements on the streets and intersections described in Section 1 is $300,000, not including issuance and interest costs, for said improvements.  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 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 3.  The City expects to complete construction and to make additional capital expenditures on and after the date of adoption of this resolution in connection with the improvements set forth in this resolution, and the City intends to reimburse itself for such expenditures with the proceeds of the bonds and/or notes in the maximum principal amount of $300,000.

            Adopted on this    __     day of   ______        , 2007.

                                                                                    ______________________________

                                                                                    Sue Hack, Mayor

ATTEST:

___________________________________

Frank S. Reeb, City Clerk