RESOLUTION NO. 6985

            RESOLUTION OF THE CITY OF LAWRENCE, KANSAS ESTABLISHING THE MAXIMUM ANNUAL BONDING AMOUNT FOR PUBLIC IMPROVEMENTS PURSUANT TO CHARTER ORDINANCE NO. 27.

WHEREAS, Charter Ordinance No. 27 of the City of Lawrence, Kansas (the “City”) authorizes the construction of certain improvements, and the issuance of general obligation bonds for the same; and

            WHEREAS, Charter Ordinance No. 27 requires the governing body to, annually, set a maximum amount of bonds that may be issued by the City for the purpose of paying for costs of improvements authorized pursuant to Charter Ordinance No. 27; and

WHEREAS, the governing body desires to set the amount of bonds that may be issued pursuant to Charter Ordinance No. 27 for the 2012 calendar year.

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

            Section 1.  For the 2012 calendar year, the governing body hereby establishes the maximum annual bonding amount for improvements authorized pursuant to Charter Ordinance No. 27 as $1,250,000, plus costs of issuance and interest on any temporary financing.

            Section 2.  This Resolution shall be in full force and effect from and after its adoption.

            ADOPTED by the governing body on August 7, 2012.

(SEAL)                                                                                   

                                                                                                Mayor

ATTEST:

                        Clerk