RESOLUTION NO. 7008

A RESOLUTION AUTHORIZING THE ACQUISITION OF LAND AND THE CONSTRUCTION AND EQUIPPING OF A RECREATION FACILITY LOCATED AT the northwest corner of ROCK cHALK dRIVE and George Williams Way, 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 acquire, construct and equip certain public buildings and facilities as further described in Charter Ordinance No. 40 and to issue its general obligation bonds and/or temporary notes for the same; and

WHEREAS, the City desires to acquire land and construct and equip an approximately 181,000 square foot recreation facility with tennis courts and related parking, a multi-use path, site improvements and infrastructure located at the northwest corner of Rock Chalk Drive and George Williams Way (the “Improvements”); 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 $25,000,000. 

            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 $25,000,000.  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 19th day of February, 2013 and APPROVED by the Mayor.

(SEAL)

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                                                                                    Robert J. Schumm, Mayor

ATTEST:

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Jonathan Douglass, City Clerk