RESOLUTION NO. 1477
A RESOLUTION OF THE CITY OF GOODLAND, KANSAS, AUTHORIZING IMPROVEMENTS TO THE City PUBLIC WATER SUPPLY SYSTEM; AND PROVIDING FOR THE PAYMENT OF THE COSTS THEREOF.
WHEREAS, K.S.A. 65-163d through 65-163u, as amended (the “Act”), authorizes any municipality to acquire, construct, reconstruct, improve, equip, rehabilitate or extend all or any part of a public water supply system and to issue general obligation bonds to pay all or part of any costs thereof; and
WHEREAS, the City of Goodland, Kansas (the “City”) is a municipality within the terms of the Act and operates a public water supply system, as said term is defined in the Act (the “System”); and
WHEREAS, the governing body of the City hereby finds and determines that it is necessary and advisable to improve the System by constructing a second phase of water line replacement improvements and appurtenances thereto (the “Project”), and to provide for the payment of the costs thereof by the issuance of general obligation bonds.
NOW THEREFORE, BE IT RESOLVED BY THE GOVERNING BODY OF THE CITY OF GOODLAND, 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 estimated costs of the Project, including construction, engineering fees, acquisition of right-of-way and easements, contingencies, administrative expenses and finance costs is $1,550,000. The costs of the Project shall be payable from the proceeds of general obligation bonds of the City issued under authority of the Act (the “Bonds”) in an amount not to exceed $1,550,000.
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.
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ADOPTED AND APPROVED by the governing body of the City of Goodland, Kansas, on
May 16, 2016.