BE IT RESOLVED BY THE GOVERNING BODY OF THE CITY OF LAWRENCE, KANSAS:
SECTION 1. The Governing Body hereby finds that the following designated streets, or portions thereof, have been designated a major or main trafficway within the City of Lawrence, Kansas, pursuant to K.S.A. 12-685 et seq. (Code of the City of Lawrence, Kansas, Section 17-501 et seq.), and amendments thereto:
6th Street, within the city limits
SECTION 2. The Governing Body hereby authorizes the construction of certain main trafficway improvements consisting of:
the addition of bus lanes, and the repaving of 6th Street from Iowa to Monterey Way, curb and gutter, sidewalks, waterline within the right of way, traffic signalization and geometric improvements and all related design, engineering and inspection work
and authorizes the issuance of general obligation bonds pursuant to K.S.A. 12-685 et seq. to pay the costs thereof.
SECTION 3. The estimated cost for these improvements on the streets and intersections described in Section 1 is $1,000,000 plus costs of issuance and interest on any temporary financing for said improvements. The cost of the improvements shall be paid from all lawful sources including the issuance of general obligation bonds and temporary notes pursuant to K.S.A. 12-685 et seq. and other lawful authority. The City expects to be reimbursed for a portion of such costs from a grant in the amount of approximately $1,000,000.
SECTION 4. The City expects to design, construct and to make 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 general obligation temporary notes and proceeds of general obligation bonds in the maximum principal amount of $1,000,000 plus costs of issuance and plus costs of interest on any temporary financing.
SECTION 5. 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 August 16, 2011.
APPROVED
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ATTEST: Aron E. Cromwell, Mayor
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Jonathan M. Douglass, City Clerk