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8.7 Initiate ProceedingsCITY OF SALINA REQUEST FOR CITY COMMISSION ACTIONDATETIME 6/21/044:00 P.M. AGENDA SECTION ORIGINATING DEPARTMENT: APPROVED FOR NO:8 AGENDA: ITEM NO.7 BY: BY: Rod Franz Page 1 ITEM: Consider Resolution Number 04-6085 initiating proceedings by the Governing Body to provide for the construction of certain sewers, streets and storm drainage improvements in the City of Salina, Kansas BACKGROUND: In a companion item, the City Commission will be awarding a contract for public improvements in Yost Addition. The project includes extension of sewer lines and construction of Street and Drainage improvements. Water services have already been extended to the area in a previous project financed with utility fund cash. The remaining sewer, street and drainage improvements are estimated to cost $905,823.55. We anticipate the sources of funding for this project to be as follows: Contribution from the Kansas Department of Transportation: $ 346,732.89 Utility Fund cash 280,179.31 To be financed with Notes/Bonds (for Street and Drainage Improvements): 245,690.31 Resolution Number 04-6085 initiates the proceedings and provides for financing of the project through the issuance of Notes and Bonds under the authority of Charter ordinance Number 33. The Resolution authorizes $100,000 for the purposes of Street construction and $150,000 for the purposes of storm water drainage. FISCAL NOTE: All of the costs associated with the Street and Drainage Improvements as well as a significant portion of the Utility Fund Contributions will eventually be recovered through a cost recovery process. RECOMMENDATION: Pass Resolution Number 04-6085.