GILMORE & BELL, P.C.

DRAFT:  JUNE 25, 2010

Resolution – Notice of Election V3

RESOLUTION NO. 6893

            A RESOLUTION AUTHORIZING THE PUBLICATION OF A NOTICE OF ELECTION REGARDING A SPECIAL ELECTION ON NOVEMBER 2, 2010 FOR THE PURPOSE OF VOTING ON CHARTER ORDINANCE NO. 40.

            WHEREAS, the City of Lawrence, Kansas (the “City”) adopted Charter Ordinance No. 40 on ___________ ____, 2010; and

WHEREAS, Charter Ordinance No. 40 exempts the City from the provisions of K.S.A. 12-1736 et seq. and provides substitute and additional provisions on the same subject relating to public buildings and facilities and the issuance of bonds therefor; and

            WHEREAS, the governing body of the City determined that it was advisable to submit the Charter Ordinance to an election as provided by Article 12, Section 5 of the Constitution of the State of Kansas (the “Act”); and

            WHEREAS, on ____________ ___, 2010, the City adopted Ordinance No. _________ calling an election to be held on November 2, 2010 for the purpose of voting on Charter Ordinance No. 40; and

            WHEREAS, if approved by a majority of voters voting thereon, Charter Ordinance No. 40, among other things, specifically authorizes the City to issue not to exceed $18,000,000 of general obligation bonds for constructing, furnishing and equipping of an expansion and renovation of the existing library at 7^th Street and Vermont and construction of adjacent parking facilities; and

            WHEREAS, the City desires to provide to the electorate certain information regarding the proposed construction, furnishing and equipping of an expansion and renovation of the existing library and construction of adjacent off-street parking and the issuance of bonds therefore.

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

            SECTION 1.  The City Clerk shall cause the County Clerk of Douglas County, Kansas to give notice of the election as provided by law by publishing a Notice of Special Question Election in substantially the form attached hereto as Exhibit A, once each week for two (2) consecutive weeks in a newspaper of general circulation in the City, with the first publication to be not less than twenty-one (21) days prior to the date of the election, and the last publication being not more than forty-five (45) days prior to the date of the election.

SECTION 2.  This Resolution shall be effective from and after its adoption.

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ADOPTED by the Governing Body of the City of Lawrence, Kansas, on __________ ___, 2010.

(Seal)                                                                           ______________________________________

                                                                                                            Mayor

ATTEST:

______________________________________

                        City Clerk

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EXHIBIT A

(Published in the Lawrence Journal-World on __________, 2010 and on __________, 2010.)

NOTICE OF SPECIAL QUESTION ELECTION

CITY OF LAWRENCE, KANSAS

            Notice is hereby given to the qualified electors of the City of Lawrence, Kansas (the “City”) that a special question election has been called and will be held in conjunction with the general election on November 4, 2010, for the purpose of submitting to the qualified electors of the City the following proposition:

Shall the following be adopted?

Shall Charter Ordinance No. 40, entitled ‘A CHARTER ORDINANCE EXEMPTING THE CITY OF LAWRENCE, KANSAS FROM THE PROVISIONS OF K.S.A. 12-1736 TO K.S.A. 12-1738 AND PROVIDING SUBSTITUTE AND ADDITIONAL PROVISIONS ON THE SAME SUBJECT RELATING TO PUBLIC BUILDINGS AND FACILITIES AND THE ISSUANCE OF BONDS THEREFOR, INCLUDING THE ISSUANCE OF NOT TO EXCEED $18,000,000 OF GENERAL OBLIGATION BONDS FOR CONSTRUCTING, FURNISHING AND EQUIPPING OF AN EXPANSION AND RENOVATION OF THE EXISTING LIBRARY AND CONSTRUCTION OF PARKING FACILITIES; AND FURTHER REPEALING CHARTER ORDINANCE 32’ take effect pursuant to Article 12, Section 5 of the Constitution of the State of Kansas?

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IT IS IMPORTANT FOR EACH QUALIFIED VOTER TO NOTE THAT YOUR BALLOT CANNOT BE COUNTED UNLESS YOU TAKE THE APPROPRIATE STEPS:

            To vote in favor of any question submitted on this ballot, make a cross or a check mark in the square to the left of the word “Yes.”  To vote against it, make a cross or a check mark in the square to the left of the word “No.” 

                                                                       YES

                                                                       NO

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            The polls will open at 7:00 o’clock A.M. and will close at 7:00 o’clock P.M., on November 4, 2010, the election day.  The voting places in the City, and the area each voting place will serve, will be as follows:

[TO BE INSERTED BY COUNTY CLERK]

Voters Residing In Precinct

Will Vote At

Location

            The election will be conducted by the officers and/or persons provided by law for holding elections, and the method of voting will be by ballot.  Registered voters are eligible to vote by advance voting ballot upon application to the County Clerk set forth below pursuant to K.S.A. 25-1117 et seq.

______________________________________

Additional Information

General

            The following additional information is provided by the City with respect to the impact of this ballot question.

            Passage of this ballot proposition would authorize the City to:  (a) construct, furnish and equip an expansion and renovation of the existing library at 7^th Street and Vermont and construction of adjacent parking facilities (the “Library Project”) and (b) issue general obligation bonds in a principal amount of not to exceed $18,000,000 to pay the costs of the Library Project and associated financing costs (the “Bonds”). 

            The following additional information is provided by the City with respect to the Library Project and the Bonds.  This information has been obtained from sources deemed reliable by the City.  Certain portions of this information are based upon projections.  No assurances can be given that these projections will be accurate as of the date of issuance of the Bonds due to changing market conditions and other matters unknown or unavailable at this time.  The assumed principal repayment schedule and the average interest rates are based on recent bond issues for similar types of financings all as shown below. 

Projected Summary of Project Costs

Sources of Funds		Uses of Funds
Bonds to be Issued	$18,000,000	Library Project Costs (including design, construction, site improvements, project management and contingency)	$___________
Interest Earnings	___________	Financing Costs	___________
		Issuance Expenses (including attorney fees, printing costs, rating agency fees, financial advisor fees, underwriting fees and other miscellaneous expenses)
Total	___________	Total	___________

Projected Summary of Bond Issue Repayments

Principal payments for one bond issue, to be repaid over ____ years from date of issuance, with final maturity projected to be in 20___:
Average Interest Rate	_________%
Total Interest Cost to Maturity	$___________
Estimated Equalized Assessed Valuation (2010)	$___________
Average Annual Principal and Interest Payments	$___________

Average Annual Property Tax Mill Levy Rate
Estimated Total for Principal and Interest Payments	1.50 Mills
Estimated Total for Additional Operating Expenses	0.50 Mills

Election Information

            The election officer conducting the election will be the Election Commissioner of Douglas County, Kansas, whose address is:  Douglas County Courthouse, ____________, P.O. Box ________, Lawrence, Kansas  _________.

            DATED:  __________, 2010.

                                                                                    ___________________, County Clerk

                                                                                    Douglas County, Kansas