RESOLUTION NO. 6787

 

A RESOLUTION OF THE CITY OF LAWRENCE, KANSAS, AMENDING SECTION 2 OF RESOLUTION NO. 6571 ORDERING THE IMPROVEMENT AND AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS FOR CERTAIN MAIN TRAFFICWAY IMPROVEMENTS WITHIN THE CITY OF LAWRENCE, KANSAS, AND REPEALING RESOLUTION NO. 6762.

 

 

            WHEREAS, on November 23, 2004, the City of Lawrence, Kansas (the “City”) adopted Resolution No. 6571 authorizing certain improvements to the intersection of 19th Street and Louisiana Street (the “Improvements”) pursuant to K.S.A. 12-685 et seq.; and

 

            WHEREAS, the costs of the Improvements has increased, necessitating the amendment of Resolution No. 6571.

 

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

 

            SECTION 1.   Section 2 of Resolution No. 6571 is hereby amended as follows:

 

            Section 2.          The estimated cost for the Improvements is $550,000.00, not including 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 as set forth above 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 2.   The City expects to design and construct 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 $550,000 plus costs of issuance and interest on any temporary financing.

 

            SECTION 3.  Resolution No. 6762 adopted April 8, 2008, is hereby repealed.

 

            SECTION 4.   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 August ___, 2008.

 

 

 

(Seal)                                                                                                                                                                                                                                                                                                                  Mayor

ATTEST:

 

 

 

                                                                                                                         

                             Clerk