BE IT RESOLVED BY THE GOVERNING BODY OF THE CITY OF LAWRENCE, KANSAS:
SECTION I. 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:
Intersection of N. 2nd Street and Locust Street
SECTION II. The Governing Body hereby authorizes the construction of certain main trafficway improvements on the streets and intersections as set forth in Section 1, including, but not limited to street construction, curbing, guttering, paving, acquiring right-of-way and easements, drainage improvements, 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 and authorizes the issuance of general obligation bonds pursuant to K.S.A. 12-685 et seq. to pay the costs thereof.
SECTION III. The estimated cost for these improvements on the streets and intersections described in Section 1, is $210,000 plus 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 of the improvements as above set forth is hereby increased, the pro-rata rate of 1%/month from and after the adoption date of this resolution, exclusive of costs of temporary financing.
SECTION IV. The City expects to design, construct and to make 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 $210,000 plus costs of issuance and plus costs of interest and temporary financing.
ADOPTED on this __________ day of _____________________________, 2007.
APPROVED
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Sue Hack, Mayor
ATTEST:
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Frank S. Reeb, City Clerk
Approved as to form and legality
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Toni Ramirez Wheeler Date
Director of Legal Services