RESOLUTION NO. 6612

A RESOLUTION OF THE CITY OF LAWRENCE, KANSAS, ORDERING THE IMPROVEMENT AND AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS FOR CERTAIN MAIN TRAFFICWAY IMPROVEMENTS WITHIN THE CITY OF LAWRENCE, KANSAS.

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

            Section 1.  The Governing Body hereby finds that each of the following streets, or portions thereof listed below, have been designated a main trafficway within the City of Lawrence, Kansas, pursuant to K.S.A. 12-685 (Code of the City of Lawrence, Kansas, Section 17-501 et seq.), and amendments thereto:

                                    6^th Street, Massachusetts Street to Wakarusa Drive

Iowa Street, 9^th Street to 27^th Street

23^rd Street, Ousdahl Road to Harper Street

Clinton Parkway, Lawrence Avenue to Wakarusa Drive

31^st Street, Ousdahl Road to Nieder Road

9^th Street, Kentucky Street to Emery Road

19^th Street at Massachusetts Street

N. 3^rd Street at the Kansas Turnpike

and further finds it necessary to improve and reimprove the traffic signal and other traffic control devices used on the main trafficways listed above (the "Improvements").

            Section 2.  The estimated cost for the Improvements is $300,000, not including costs of issuance and interest costs of 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.  Said estimated cost as above set forth is hereby increased at the pro-rata rate of 1 percent per month from and after the adoption date of this Resolution, exclusive of the costs of temporary financing.

            Section 3.  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, 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 $300,000, not including costs of issuance and interest costs of any temporary financing.

            Adopted on this _____ day of ____________________, 2005

                                                                        ______________________________

                                                                        Dennis Highberger, Mayor

ATTEST:

___________________________________

Frank S. Reeb, City Clerk