Memorandum

City of Lawrence

Finance Department

TO:	Dave Corliss, City Manager
FROM:	Ed Mullins, Finance Director
Date:	July 8, 2009
RE:	Ordinance 8433 Resolution 6844

The City Commission is requested to approve Ordinance No. and Resolution No. to complete the sale of $10,400,000 of the Series 2009 water and sewer revenue bonds. The bond sale will occur on July 14^th and a bid tabulation will be provided to the City Commission that evening.

Project Descriptions There are four projects that will be funded with the Series 2009 revenue bonds:

Waterline Rehabilitation and Replacement- $1,265,300 This project involves repairing or replacing water mains that may be likely to fail or need to be enlarged to provide more capacity.

Ground Storage Tank Rehabilitation - $980,000 The project will entail studying the existing Oread water storage tanks for possible replacement. Also included is the painting of the Clinton ground storage tank.

Wastewater Pump Station Improvements - $2,582,000 This project would eliminate one pump station and increase the capacity of another one to carry the additional flow. Another pump station would be replaced.

Anaerobic Digester Improvements - $4,500,000 The project would improve the dewatering process at the wastewater treatment plant. In addition other new repairs and modifications would be performed. The capacity of the plant would increase to provide treatment for a community of 100,000.

The amount of the bond also includes issuance cost and a bond reserve of approximately $875,000.

Action Requested Adopt Resolution No. 6844 authorizing the sale of water and sewer revenue bonds and adopt on first reading Ordinance 8433.