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� <br />� <br />improvement is to proceed and go ahead. <br />� <br />0 <br />I will answer yuestions later, which you may have, after <br />Nr. P��povich completes his presentation of the other infoxmation. <br />I have not discussed costs or financing since that is the matter <br />which he will discuss. Thank you very much. (Applause) <br />NR. PETER S,�POPOVICH, Peterson 8 Popovich: Bill, why <br />� <br />� <br />don't you slip on that cost slide. I'll stay down here so my <br />shadow doesn't reflect because with the items being numbered I <br />can refer to $em and you will be able to follow me. These are <br />the tosts that are anticipated in this improvement if it is ordered <br />and we have tried to break them down so yau would have an idea about <br />how you would be affected, bearing in mind that this is purely <br />estimated, as we indicate on the top line, for the simple raason <br />that v+e will not know exact costs until all the construction bids <br />are let. However, we have tried to follow the basis that all of <br />the costs we have indicated are conservative - that we wouldn't <br />go over and that we probably won't get that high. :�e felt it better <br />to estimate toward greater costs and stay within it rather than <br />estimate a lowar cost and then exceed it. <br />Improvement Nc. 1 was estimated at �13C,OO� and $12C,000 bonds <br />were actually issued. Gn No. 3 the estimated improvsment cost <br />is $565,C00.00. That's the actual cost of construction that ths <br />engineers have estimated including the obtaining of easemants and <br />letting of construction costs. +.a'e have rounded it off to a proposed <br />bond issue of �600.0OO.OU. The reason for that is because in <br />addition to the construction costs you have interest costs during <br />the course of construction because it may take a year to get the <br />in <br />whole thing done. By the time the assessment rolls are/process <br />