RESOLUTION NO. 6761

 

A RESOLUTION OF THE CITY OF LAWRENCE, KANSAS, ORDERING THE IMPROVEMENT AND AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS FOR TRAFFICWAY CONNECTION IMPROVEMENTS ALONG OHIO STREET FROM 6TH STREET TO 8TH STREET 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 Trafficway connection within the City of Lawrence, Kansas, pursuant to K.S.A. 12-686 (Code of the City of Lawrence, Kansas, Section 17-502 et seq.), and amendments thereto:

Ohio Street, 6th Street to 9th Street

                       

            Section 2.  The Governing Body hereby authorizes the construction of the following trafficway connection improvements pursuant to K.S.A.12-687:

 

The reconstruction of Ohio Street from 6th Street to 8th Street, including brick pavement and curb and gutter

 

(the “Improvements”).  The Governing Body also authorizes the issuance of temporary notes and General Obligation Bonds pursuant to K.S.A. 12-689. to pay the costs thereof.

 

            Section 3.  The estimated cost to the City for the improvements is $150,000 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. 12-686 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 $150,000 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     __________  , 2008.

 

 

 

                                                                        ______________________________

                                                                        Sue Hack, Mayor

 

ATTEST:

 

 

___________________________________

Frank S. Reeb, City Clerk