RESOLUTION NO. 6917

A RESOLUTION AUTHORIZING CERTAIN IMPROVEMENTS TO THE LIBRARY LOCATED AT 7^TH STREET AND VERMONT AND CONSTRUCTION OF ADJACENT PARKING FACILITIES, AND PROVIDING FOR THE MANNER OF PAYING FOR THE SAME.

            WHEREAS, Article 12, Section 5 of the Constitution of the State of Kansas (the “Act”) and Charter Ordinance No. 40 of the City of Lawrence, Kansas (the “City”) authorizes the governing body of the City to make a variety of improvements as further described in Charter Ordinance No. 40 and to issue its general obligation bonds and/or temporary notes for the same; and

WHEREAS, Charter Ordinance No. 40 specifically authorizes the City to construct, furnish and equip an expansion and renovation of the existing public library at 7^th Street and Vermont and to construct adjacent parking facilities (the “Improvements”) at a total cost of not to exceed $18,000,000, and further authorizes the City to issue general obligation bonds and/or temporary notes in an amount not to exceed $18,000,000 to pay the costs of such improvements;

            WHEREAS, pursuant to Charter Ordinance No. 40 and the Act, a special election was duly held in the City on November 2, 2010, on the question of whether to Charter Ordinance No. 40 shall take effect, and it was found and determined that more than a majority of the qualified electors of the City voting on the question had voted in favor of Charter Ordinance No. 40; and

WHEREAS, the City desires to formally authorize the Improvements and the issuance of general obligation bonds and/or temporary notes pursuant to Charter Ordinance No. 40, as more fully described herein. 

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

Section 1.  Pursuant to Charter Ordinance No. 40, the City hereby finds and determines that it is necessary to make the Improvements.

Section 2.  For the purpose of providing funds for the Improvements, all as approved by the governing body, the City hereby authorizes the issuance of its general obligation bonds and/or temporary notes pursuant to Article 12, Section 5(a) of the Constitution of the State of Kansas and Charter Ordinance No. 40, in an amount not in excess of $18,000,000. 

            Section 3.  The City expects to make capital expenditures in connection with the Improvements and intends to reimburse itself for such expenditures with the proceeds of general obligation bonds and/or temporary notes in an amount not to exceed $18,000,000.  Any general obligation bonds and/or temporary notes issued under the authority of this Resolution may be used to reimburse expenditures made on or after the date that is 60 days before the date of adoption of this Resolution pursuant to U.S. Treasury Regulation §1.150-2.

Section 4.  This Resolution shall take effect and be in full force from and after its passage and approval by the governing body of the City.

            PASSED by the Governing Body on ____ day of _________________________, 2011 and APPROVED by the Mayor.

(SEAL)

                                                                                    _________________________________

                                                                                    Mike Amyx, Mayor

ATTEST:

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Jonathan Douglas, City Clerk