RESOLUTION NO.  6786

            A RESOLUTION DECLARING IT NECESSARY TO IMPROVE CERTAIN PUBLIC RECREATIONAL AREAS OF THE CITY OF LAWRENCE, KANSAS AND TO ISSUE GENERAL OBLIGATION BONDS AND/OR TEMPORARY NOTES IN AN AMOUNT NOT TO EXCEED $300,000, FOR THE PURPOSE OF PAYING THE COSTS THEREOF.

WHEREAS, the City of Lawrence, Kansas (the “Issuer”) is authorized pursuant to Charter Ordinance No. 27 of the City to make improvements to public recreational areas within the City, and to issue general obligation bonds of the City to pay the costs thereof; and

WHEREAS, the governing body of the Issuer hereby finds and determines it to be necessary to improve tennis courts located at ___________________________ (the “Project”), and further finds and determines that the costs thereof may be temporarily financed by the issuance of general obligation temporary notes or bonds of the Issuer.

            THEREFORE, BE IT RESOLVED BY THE GOVERNING BODY OF THE CITY OF LAWRENCE, KANSAS:

            SECTION 1.   It is hereby deemed and declared to be necessary to install, improve, repair, construct, reconstruct, and improve the Project at an estimated cost of $300,000 plus costs of issuance and interest on any temporary financing.

            SECTION 2.   It is necessary to issue general obligation notes and/or bonds of the City pursuant to Charter Ordinance No. 27, in an amount not to exceed $300,000 plus costs of issuance and interest on any temporary financing, to pay the costs of the Project and financing costs.  Said notes and bonds may be issued to reimburse expenditures made on or after the date which is 60 days before the date of this Resolution, pursuant to Treasury Regulation 1.150-2. 

            SECTION 3.   This Resolution shall be effective from and after adoption by the Governing Body.

            ADOPTED by the governing body of the City of Lawrence, Kansas, on July ___, 2008.

(Seal)                                                                                                                                                                                                      Mayor

ATTEST:

                             Clerk