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03-5930 Initiate Proceedingscronsmiaaiea�seitie RESOLUTION NUMBER 03-5930 RESOLUTION INITIATING PROCEEDINGS BY THE GOVERNING BODY FOR MAIN TRAFFICWAY IMPROVEMENTS TO WATERWELL ROAD IN THE CITY OF SALINA, KANSAS WHEREAS, the Governing Body of the City of Salina, Kansas (the "City") has determined that it is necessary and desirable to improve Waterwell Road, including the construction of a new bridge over Interstate 135 and grading, paving and drainage improvements to the related ramps; reconstruction of Waterwell Road from I-135 to 9th Street (U.S. Hwy. 81); and reconstruction of the 9th and Waterwell intersection (collectively, the "Improvements"); and WHEREAS, the total estimated cost of the Project is approximately $6,000,000 to be paid from funds provided by the KDOT, funds provided by Saline County and funds provided by the City; and WHEREAS, the City has designated Waterwell Road as main trafficways pursuant to K.S.A. 12-685 et seq. (the "Act"); and WHEREAS, reports, estimates and plans have been compiled and furnished to the Governing Body of the City to provide them with sufficient information in order to enable them to commence proceedings for the construction of the Improvements: NOW, THEREFORE, BE IT RESOLVED BY THE GOVERNING BODY OF THE CITY OF SALINA, KANSAS, AS FOLLOWS: Section 1. Proceedings are hereby initiated pursuant to the provisions of the Act for the purpose of proceeding with the Improvements. Section 2. The City Manager and other City staff are authorized to take all necessary actions to proceed with the Improvements. Section 3. The cost of the Improvements or portions thereof shall be paid from funds provided by the KDOT, funds provided by Saline County, funds of the City available for such purpose and/or by the City -at -large through the issuance of one or more series of general obligation bonds of the City as provided by the Act, and pending the issuance of said bonds, through the issuance of one or more series of temporary notes of the City, the estimated maximum principal amount of such obligations of the City being $650,000, plus costs of issuance and plus costs of interest on any temporary financing. Section 4. The City expects to make capital expenditures on and after the date of adoption of this Resolution in connection with the Improvements, and intends to reimburse itself for such expenditures with the proceeds of one or more series of general obligation bonds and temporary notes of the City in the estimated maximum principal amount of $650,000 plus costs of issuance and plus costs of interest on any temporary financing. Section 5. This resolution shall be in full force and effect from and after its adoption. PASSED by the Governing Body on May 5, 2003. C& (SEAL) Alan E. Jilka, Nb4yor ATTEST: Lieu Ann Nicola, City Clerk