CITY COMMISSION AGENDA ITEM

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Department:

Planning & Dev. Services/ City Attorney’s Office

Commission Meeting Date:  Sept. 18, 2018

Staff Contact:

Amy Miller, Assistant Director-Planning

Recommendations/Options/Action Requested:

 

Adopt Resolution No. 7264 Authorizing the remodel of the Riverfront facility for use by Municipal Court and Planning and Development Services of the City of Lawrence, Kansas, Pursuant to Charter Ordinance No. 40, and the Issuance of General Obligation Bonds to Pay the Costs Thereof.

 

Executive Summary:

The Capital Improvement Program and adopted 2018 budget includes funds for the remodel of the 3rd floor, west wing of the Riverfront Mall for use by Municipal Court and Planning and Development Services, with a total budget of up to $1.101 million. The bid was awarded at the August 13, 2018 City Commission meeting.

 

Revenue for the project comes from the following sources:

 

Revenues

General Obligation Debt

$180,000

CIP# PS1701CIP

Equipment Reserve Fund

$515,000

 

 

$115,000

CIP# CA1601CIP

 

$400,000

CIP# CA1801CIP

Capital Reserve Fund

$406,000

Approved as 2018 budget revision

Total Revenue

$1,101,000

 

 

To use general obligation bonds to finance the design and construction, the City must adopt a resolution that the City’s intent is to issue tax exempt general obligation bonds to pay for a portion of the improvements.

 

The purpose of Resolution No. 7264 is to set $180,000 as the maximum principal amount (not including financing costs) the City would finance with tax-exempt general obligation bonds.

Strategic Plan Critical Success Factor

 

Effective Governance/Professional Administration

Innovative Infrastructure and Asset Management

Core Services

Sound Fiscal Stewardship

 

Fiscal Impact (Amount/Source):

The fiscal impact to the City will be less than $1,101,000 and this amount is included in the amended 2018 budget and CIP. This is action is notice of intent to finance $180,000 of the project costs with tax-exempt general obligation bonds per the approved 2018 CIP.

Attachments:

Resolution No. 7264

 

 

Reviewed By:

(for CMO use only)

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