RESOLUTION NO. 6728

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:

9^th Street from Delaware Street to Holiday Drive;

Louisiana Street from 17^th Street south to the City Limits;

6^th Street within the City Limits;

Trail Road from Kasold Drive to Lawrence Avenue;

4^th Street from Maine Street to McDonald Drive;

Lawrence Avenue within the corporate City Limits;

10^th Street between Maine Street and Missouri Street

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

Sidewalk:

            South side of Trail Road from Lawrence Avenue to Rockfence Place;

            North side of 9^th Street from Sunset Drive to Iowa Street;

            South side of 6^th Street from Schwarz Road to Rockledge Road;

            4^th Street from Maine Street to Michigan Street

Traffic Calming Devices:

            Speed humps/cushions on Lawrence Avenue between 9^th Street and Harvard Road;

            Pedestrian crossing on Louisiana Street between 18^th and 19^th Street;

            Traffic diverter on 18^th Street between Maine Street and Missouri Street

(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 $250,000 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 $250,000 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 ______, 2007.

APPROVED

                                                                        ______________________________

                                                                        Sue Hack, Mayor

ATTEST:

___________________________________

Frank S.  Reeb, City Clerk