Memorandum

City of Lawrence

Finance Department

TO:	Dave Corliss, City Manager
FROM:	Ed Mullins, Finance Director
Date:	July 28, 2010
RE:	Resolution 6900 – setting the limits for Charter Ordinance 27

Background 

Charter Ordinance 27 is used as the legal authority for the issuance of debt to fund specific public improvements.  The City Commission needs to establish annually the maximum amount of debt that can be issued under the charter ordinance.  

Charter Ordinance Limit

Bond counsel has calculated that the limit for 2010 for projects authorized by Charter Ordinance 27 is $6,100,000.  

Action Requested   The City Commission is requested to approve Resolution 6900 setting the limit for the amount of bonds that can be issued under Charter Ordinance 27 in 2010 at $6,100,000.