Memorandum

Finance Department

To:	Debbie Van Saun, Assistant City Manager
From:	Ed Mullins, Finance Director
Date:	August 31, 2004
Subject:	Bond Issues

Attached is a table listing the capital projects the City of Lawrence will be financing through either general obligation bonds or bond anticipation notes.  The projects that are financed with the notes should be part of a bond issue in 2005.  The issues total $10,670,000 for the Series A Bond and $1,600,000 for the Series B Bond.  The Series B bond is issued to pay for improvements to the Airport including hangars and runway construction.  The $15,745,000 in bond anticipation notes will mature October 1, 2005.  Projects that are completed at the time will be refinanced with a bond issue.

In addition to these capital projects, the City anticipates issuing bonds to pay for a fifth fire station in 2005. Other potential projects include the expansion of the Library, the reconstruction of Kasold between 15^th and 23^rd streets, the expansion of the Clinton water treatment plant, and the construction of a second wastewater treatment plant.  A detailed list of projects is included in the City’s Capital Improvement Budget.