RESOLUTION NO. 7157

            A RESOLUTION OF THE CITY OF LAWRENCE, KANSAS, AUTHORIZING IMPROVEMENTS TO THE Water and SEWAGE SYSTEM OF THE CITY; AND PROVIDING FOR THE PAYMENT OF THE COSTS THEREOF.

            WHEREAS, the City of Lawrence, Kansas (the “City”) owns and operates a water and sewage system (the “System”); and

WHEREAS, Charter Ordinance No. 27 of the City (the “Charter Ordinance”) authorizes the City to improve, repair, or extend any waterworks or wastewater treatment facility, including adding to or extending the same, and to issue general obligation bonds to pay all or part of any costs thereof; and

            WHEREAS, the governing body of the City has previously improved the System as follows:

The expansion and improvement of the City of Lawrence Wastewater Treatment Plant to meet city growth needs, new regulatory requirements, and facility rehabilitation through the year 2020. 

(collectively, the “Project”); and

WHEREAS, the Project has previously been financed by a loan entered into by the City with the Kansas Department of Health and Environment; and

WHEREAS, the governing body of the City hereby finds and determines that it is necessary and advisable to provide for the payment and refinancing of the costs of the Project by the issuance of general obligation bonds, as authorized by the Charter Ordinance.

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

            Section 1.  Project Authorization.  It is hereby authorized, ordered and directed that the System be improved by constructing the Project.

            Section 2.  Project Financing.  The costs of the Project, including construction, engineering fees, acquisition of right-of-way and easements, contingencies and administrative expenses is $44,773,720.20.  The costs of the Project, together with costs of issuance and interest and fees related to any interim financing, shall be payable from the proceeds of general obligation bonds of the City issued under authority of the Charter Ordinance (the “Bonds”).

Section 3.  Reimbursement.  The Bonds may be issued to reimburse expenditures made on or after the date which is 60 days before the date of this Resolution, pursuant to Treasury Regulation §1.150-2.

            Section 4.  Effective Date.  This Resolution shall take effect and be in full force from and after its adoption by the governing body of the city.

            ADOPTED AND APPROVED by the governing body of the City of Lawrence, Kansas, on April 26, 2016.

(Seal)                                                                          

                                                                                                            Mayor

ATTEST:

                        Clerk