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Lawrence approves first reading of ordinance authorizing $2025 general obligation improvement bonds
Summary
The City Commission approved on first reading Ordinance No. 10119 authorizing the issuance of General Obligation Improvement Bonds, Series 2025A, after discussion of funding sources and debt management; vote was unanimous 5‑0.
The Lawrence City Commission on March 4, 2025 adopted on first reading Ordinance No. 10119, authorizing and providing for the issuance of General Obligation Improvement Bonds, Series 2025A, and providing for the levy and collection of an annual tax to pay principal and interest on the bonds.
The ordinance was introduced after commissioners discussed how the city funds debt service through dedicated funds rather than the general fund. Rochelle Matthews, the city’s director of finance, explained the city maintains a debt service fund for general obligation projects such…
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