RESOLUTION NO. 6926

 

 

A RESOLUTION OF THE CITY OF LAWRENCE, KANSAS, AMENDING SECTION III OF RESOLUTION NO. 6892 AND ORDERING THE IMPROVEMENT AND AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS FOR CERTAIN MAIN TRAFFICWAY IMPROVEMENTS WITHIN THE CITY OF LAWRENCE, KANSAS.

 

 

            WHEREAS, on July 13, 2010, the City of Lawrence, Kansas (the “City”) adopted Resolution No. 6892 authorizing certain improvements to 6th Street/HWY 40 from Massachusetts Street to Folks Road (the “Improvements”) pursuant to K.S.A. 12-685 et seq.; and

 

            WHEREAS, the estimated costs of the Improvements has been determined, and such amount exceeds the amount set forth in Resolution No. 6892; and

 

            WHEREAS, the City desires to amend Resolution No. 6892 to reflect such increased estimated costs of the Improvements.

 

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

 

            SECTION 1.   Section III of Resolution No. 6892 is hereby amended as follows:

 

            Section III.       The estimated cost for the Improvements is $1,630,000.00, not including costs of issuance and interest on any temporary financing.  The cost of the Improvements shall be paid from all lawful sources including the issuance of General Obligation Bonds pursuant to K.S.A. 12-685 et seq. and other lawful authority. 

 

            SECTION 2.   The City expects to design and construct and to make additional capital expenditures on and after the date of adoption of this resolution in connection with the improvements set forth in this resolution, and the City intends to reimburse itself for such expenditures with the proceeds of the bonds and/or notes in the maximum principal amount of $1,630,000 plus costs of issuance and interest on any temporary financing.

 

            SECTION 3.   This Resolution shall be effective from and after adoption by the Governing Body.

 

            ADOPTED by the governing body of the City of Lawrence, Kansas, on July ___, 2011.

 

 

 

(Seal)                                                                                                                                                                                                                                                                                                                  Mayor

ATTEST:

 

 

                                                                                                                          

                             Clerk