RESOLUTION NO. 6811
A RESOLUTION DECLARING IT NECESSARY TO ISSUE GENERAL OBLIGATION SALES TAX BONDS OR SALES TAX REVENUE BONDS OF THE CITY OF LAWRENCE, KANSAS, FOR THE PURPOSE OF PAYING THE COSTS OF FINANCING TRANSIT PROJECTS IN THE CITY; AND PROVIDING FOR THE GIVING OF NOTICE OF SAID INTENTION.
WHEREAS, the Governing Body (the “Governing Body”) of the City of Lawrence, Kansas (the “City”) pursuant to the authority of K.S.A. 12-187 et seq. (the “Act”), has heretofore submitted to the electors of the City the proposition of imposing a special two-tenths of one percent (0.20%) retailers’ sales tax within the City (the “0.2% Sales Tax”), commencing April 1, 2009 or as soon thereafter as may be permitted by the Act, and ending ten (10) years from the date the 0.2% Sales Tax is first collected, for the purposes of operating a City Public Transit System that may be merged with the University of Kansas transit system, including purchasing and maintaining buses and other transit vehicles, transit facilities and equipment and such other transit-related purposes as may be in the best interest of the City (the “Transit Project”); and
WHEREAS, the Governing Body (the “Governing Body”) of the City of Lawrence, Kansas (the “City”) pursuant to the authority of K.S.A. 12-187 et seq. (the “Act”), has heretofore submitted to the electors of the City the proposition of imposing a special five one-hundredths of one percent (0.05%) retailers’ sales tax within the City (the “0.05% Sales Tax” and together with the 0.2% Sales Tax, the “Sales Tax”), commencing April 1, 2009 or as soon thereafter as may be permitted by the Act, and ending ten (10) years from the date the 0.05% Sales Tax is first collected, for the purposes of providing additional revenue for operating a City Public Transit System that may be merged with the University of Kansas transit system, including acquiring, constructing, improving, operating, and maintaining diesel and/or hybrid electric transit vehicles and other transit system capital improvements, for providing more frequent service on core transit routes, and other transit system improvements (the “Additional Transit Project,” and together with the Transit Project, the “Project”); and
WHEREAS, such propositions were submitted at a special question election held on November 4, 2008, and were approved by a majority of the electors of the City voting on said propositions at said time; and
WHEREAS, the City is authorized pursuant to the Act to issue general obligation bonds or revenue bonds secured by a pledge of the Sales Tax, provided certain procedural requirements contained in the Act are satisfied; and
WHEREAS, the Governing Body hereby finds and determines it to be necessary and advisable to issue general obligation sales tax bonds (the “General Obligation Bonds”) or sales tax revenue bonds (the “Revenue Bonds”) in order to pay all or a portion of the costs of financing the costs of the Project; and
WHEREAS, the Act requires that notice of the City’s proposition to issue general obligation sales tax bonds shall be published once each week for two consecutive weeks in the City’s official newspaper and if, within 30 days following the last publication of such notice, a petition is filed with the Douglas County election officer signed by not less than five per cent (5%) of the electors of the City who voted in the last preceding general election of the City, then no such general obligation sales tax bonds shall be issued until the proposition thereof is submitted to and approved by a majority of the voters of the City voting at an election held thereon; and
WHEREAS, the Act further requires that, before the Governing Body of the City shall issue any general obligation sales tax bonds, it shall cause to be prepared a comprehensive feasibility study showing that revenues received from the Sales Tax would be sufficient to retire such general obligation sales tax bonds; and
WHEREAS, the Act requires that notice of the City’s proposition to issue sales tax revenue bonds shall be published once each week for two consecutive weeks in the City’s official newspaper and if, within 30 days following the last publication of such notice, a petition is filed with the Douglas County election officer signed by not less than four per cent (4%) of the electors of the City who voted for the office of secretary of state in the last preceding general election for such office, requesting an election on the issuance of the sales tax revenue bonds, then no such sales tax revenue bonds shall be issued until the proposition thereof is submitted to and approved by a majority of the voters of the City voting at an election held thereon
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 issue the General Obligation Bonds or the Revenue Bonds for the purpose of paying all or a portion of the costs of the Project. The General Obligation Bonds shall be general obligations of the City and shall be paid and secured by a pledge of the Sales Tax and, if not paid, shall be paid from ad valorem taxes, if necessary. The Revenue Bonds shall be paid and secured by a pledge of the Sales Tax and the Revenue Bonds shall not be general obligations payable from ad valorem taxation.
SECTION 2. The Project is a “public facility or improvement” of the City for which the City is authorized to issue general obligation bonds, as said terms are referenced in the Act.
SECTION 3. Subject to compliance with Section 4 hereof, said General Obligation 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. Subject to compliance with Section 5 hereof, said Revenue 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 4. Before issuing the General Obligation Bonds, there shall be published once a week for two consecutive weeks in the official newspaper of the City, a notice of the intention of the Governing Body to issue the General Obligation Bonds; and if, within thirty (30) days after the final publication of such notice, a petition shall be filed with the Douglas County election officer requesting an election on the issuance of the General Obligation Bonds, signed by not less than five per cent (5%) of the electors of the City who voted at the last preceding general election of the City, the Governing Body shall thereupon submit such proposed General Obligation Bonds to the electors of the City at an election to be called for that purpose as provided by the Act or shall abandon the intent to issue the General Obligation Bonds. If no sufficient protest is filed with the Douglas County election officer within the period of time hereinbefore stated, then the Governing Body shall be authorized to issue the General Obligation Bonds, provided that before the Governing Body of the City shall issue any General Obligation Bonds, it shall cause to be prepared a comprehensive feasibility study showing that revenues received from the Sales Tax would be sufficient to retire such General Obligation Bonds.
SECTION 5. Before issuing the Revenue Bonds, there shall be published once a week for two consecutive weeks in the official newspaper of the City, a notice of the intention of the Governing Body to issue the Revenue Bonds and if, within thirty (30) days after the final publication of such notice, there shall be filed with the Douglas County election officer, a petition requesting an election on the issuance of the Revenue Bonds, signed by not less than four per cent (4%) of the electors of the City who voted for the office of secretary of state in the last preceding general election for such office, the Governing Body shall thereupon submit such proposed Revenue Bonds to the electors of the City at an election to be called for that purpose as provided by the Act or shall abandon the intent to issue the Revenue Bonds. If no sufficient protest is filed with the Douglas County election officer within the period of time hereinbefore stated, then the Governing Body shall be authorized to issue the Revenue Bonds.
SECTION 6. The City Clerk, City Attorney and other representatives of the City are instructed to take such action as may be necessary and to consult with the City’s Financial Advisor and Bond Counsel in order to implement the intent of this Resolution.
ADOPTED by the Governing Body of the City of Lawrence, Kansas, on November ______, 2008.
Michael Dever, Mayor
(Seal)
ATTEST:
Frank S. Reeb, City Clerk
(Published in the Lawrence Journal-World, on ________________, 2008 and _____________, 2008)
NOTICE
TO: THE RESIDENTS OF THE CITY OF LAWRENCE, KANSAS
You and each of you are hereby notified that the Governing Body of the City of Lawrence, Kansas (the “City”) is proceeding with a program in the City to operate a City Public Transit System that may be merged with the University of Kansas transit system, including purchasing and maintaining buses and other transit vehicles, transit facilities and equipment and such other transit-related purposes as may be in the best interest of the City (the “Transit Project”) and for the purposes of providing additional revenue for operating a City Public Transit System that may be merged with the University of Kansas transit system, including acquiring, constructing, improving, operating, and maintaining diesel and/or hybrid electric transit vehicles and other transit system capital improvements, for providing more frequent service on core transit routes, and other transit system improvements (the “Additional Transit Project,” and together with the Transit Project, the “Project”). On November 4, 2008, an election was held in the City at which the City voters authorized the implementation of a special retailers’ sales tax in the City in the amount of two-tenths of one percent (0.2%) and a second special retailers’ sales tax in the City in the amount of five one-hundredths of one percent (0.05%) (together, the “Sales Tax”), commencing April 1, 2009 or as soon thereafter as may be permitted by the Act, and ending ten (10) years from the date the Sales Tax is first collected.
In order to finance all or a portion of the Project, the Governing Body deems it advisable to issue general obligation sales tax bonds (the “General Obligation Bonds”) or sales tax revenue bonds (the “Revenue Bonds”) in one or more series under the authority of K.S.A. 12-187 et seq., as amended (the “Act”). The General Obligation Bonds shall be general obligations of the City payable from and secured by revenues derived by the City from the Sales Tax, and, if not so paid, payable from ad valorem taxation. The Revenue Bonds shall be paid and secured by a pledge of the Sales Tax and the Revenue Bonds shall not be general obligations payable from ad valorem taxation.
This Notice shall be published once a week for two consecutive weeks in the official newspaper of the City.
If, within thirty (30) days after the final publication a petition shall be filed with the Douglas County election officer, signed by not less than five per cent (5%) of the electors of the City who voted at the last preceding general election in the City, requesting an election on the issuance of the General Obligation Bonds, then the Governing Body shall submit such proposed General Obligation Bonds to the electors of the City at an election to be called for that purpose as provided by the Act or shall abandon the issuance of the General Obligation Bonds. If no sufficient protest is filed within said period of time, the Governing Body shall be authorized to issue the General Obligation Bonds, provided that before the Governing Body of the City shall issue any General Obligation Bonds, it shall cause to be prepared a comprehensive feasibility study showing that revenues received from the Sales Tax would be sufficient to retire such General Obligation Bonds.
If, within thirty (30) days after the final publication of such notice, a petition shall be filed with the Douglas County election officer, signed by not less than four per cent (4%) of the electors of the City who voted for the office of secretary of state in the last preceding general election for such office, requesting an election on the issuance of the Revenue Bonds, then the Governing Body shall thereupon submit such proposed Revenue Bonds to the electors of the City at an election to be called for that purpose as provided by the Act or shall abandon the intent to issue the Revenue Bonds. If no sufficient protest is filed with the Douglas County election officer within the period of time hereinbefore stated, then the Governing Body shall be authorized to issue the Revenue Bonds.
DATED: _________________.
GOVERNING BODY
THE CITY OF LAWRENCE, KANSAS
/s/ Michael Dever, Mayor
ATTEST:
/s/ Frank S. Reeb, City Clerk
CERTIFICATE OF NO PROTEST
STATE OF KANSAS )
) ss:
COUNTY OF DOUGLAS )
The undersigned, County Clerk of Douglas County, Kansas (the “County”), does hereby certify that the Governing Body of the City of Lawrence, Kansas (the “City”) duly adopted Resolution No. ______, on November ___, 2008, declaring it necessary and advisable to operate a City Public Transit System that may be merged with the University of Kansas transit system, including purchasing and maintaining buses and other transit vehicles, transit facilities and equipment and such other transit-related purposes as may be in the best interest of the City (the “Transit Project”) and for the purposes of providing additional revenue for operating a City Public Transit System that may be merged with the University of Kansas transit system, including acquiring, constructing, improving, operating, and maintaining diesel and/or hybrid electric transit vehicles and other transit system capital improvements, for providing more frequent service on core transit routes, and other transit system improvements (the “Additional Transit Project,” and together with the Transit Project, the “Project”), by the issuance of general obligation sales tax bonds (the “General Obligation Bonds”), under the authority of K.S.A. 12-187 et seq. (the “Act”) in order to pay all or a portion of the costs thereof; that a Notice of said intention was duly published once a week for two consecutive weeks in the Lawrence Journal-World, the official newspaper of the City on __________________, 2008 and ________________, 2008 as required by the Act; that more than thirty (30) days has elapsed from the date of the final publication; and that there has been no sufficient written protest filed in my office against the issuance of the General Obligation Bonds, as provided by the Act.
WITNESS my hand and official seal on January ___, 2009.
__________________________________________
(Seal) Jameson D. Shew, County Clerk
Douglas County, Kansas
CERTIFICATE OF NO PROTEST
STATE OF KANSAS )
) ss:
COUNTY OF DOUGLAS )
The undersigned, County Clerk of Douglas County, Kansas (the “County”), does hereby certify that the Governing Body of the City of Lawrence, Kansas (the “City”) duly adopted Resolution No. ______, on November ___, 2008, declaring it necessary and advisable to operate a City Public Transit System that may be merged with the University of Kansas transit system, including purchasing and maintaining buses and other transit vehicles, transit facilities and equipment and such other transit-related purposes as may be in the best interest of the City (the “Transit Project”) and for the purposes of providing additional revenue for operating a City Public Transit System that may be merged with the University of Kansas transit system, including acquiring, constructing, improving, operating, and maintaining diesel and/or hybrid electric transit vehicles and other transit system capital improvements, for providing more frequent service on core transit routes, and other transit system improvements (the “Additional Transit Project,” and together with the Transit Project, the “Project”), by the issuance of sales tax revenue bonds (the “Revenue Bonds”), under the authority of K.S.A. 12-187 et seq. (the “Act”) in order to pay all or a portion of the costs thereof; that a Notice of said intention was duly published once a week for two consecutive weeks in the Lawrence Journal-World, the official newspaper of the City on __________________, 2008 and ________________, 2008 as required by the Act; that more than thirty (30) days has elapsed from the date of the final publication; and that there has been no sufficient written protest filed in my office against the issuance of the Revenue Bonds, as provided by the Act.
WITNESS my hand and official seal on January ___, 2009.
__________________________________________
(Seal) Jameson D. Shew, County Clerk
Douglas County, Kansas