Title
RESOLUTION DECLARING IT NECESSARY TO BUILD OR REPAIR EXISTING BRIDGES IN THE COUNTY UNDER THE AUTHORITY OF K.S.A. 68-1103; PROVIDING FOR THE ISSUANCE OF GENERAL OBLIGATION BONDS TO PAY THE COSTS THEREOF; AND PROVIDING FOR PUBLICATION OF THIS RESOLUTION AS REQUIRED BY LAW (2015 BRIDGE PROJECTS).
Presented by: Chris Chronis, Chief Financial Officer.
RECOMMENDED ACTION: Adopt the resolution.
Body
The Resolution declares an intent to make improvements to bridges and authorizes the issuance of general obligation bonds in an amount not to exceed $4,060,000 to pay the County's share of the costs thereof and associated bond issuance costs. The bridges to be improved are as follows:
CIP No. Project Description Cost Estimate
B-458 Bridge on 183rd St. W. between 47th and 55th St. S. $600,000
B-459 Bridge on 87th St. S. between 295th and 311th St. W. 500,000
B-460 Bridge on 45th St. N. between Broadway and Hydraulic 600,000
B-462 Bike Pedestrian Bridge on Meridian over WVCFC Project 1,500,0001
B-468 Bridge on 143rd St. E. between 63rd and 71st St. S. 690,0002
B-469 Bridge on 93rd St. N. between Meridian and Seneca 300,000
B-470 Bridge on 183rd St. W. between Central and 13th St. N. 650,000
B-480 Bridge on 61st St. N. between 279th and 295th St. W. 500,0003
B-482 Bridge on Hydraulic between 69th and 77th St. N. 500,0004
Total $5,840,000
1 $562,000 in GO bonds; and $938,000 in available sales tax funds
2 $138,000 in GO bonds; and $552,000 in available intergovernmental funds
3 $400,000 in GO bonds; and $100,000 in available sales tax funds
4 $250,000 in GO bonds; and $250,000 in available sales tax funds
This resolution establishes the County's right to fund expenditures for certain projects with available cash and then reimburse the cash accounts with the proceeds of a subsequent bond issue. It also authorizes the sale of bonds to provide permanent financing for those projects. Thus, it provides a mechanism thr...
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