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� <br />� <br />� <br />� <br />lo <br />that we feel are conservative in the sense that we shot�ti not <br />exceed them. For example. on Improvement No. 1 the total cost <br />estimated was �13G,OGC. The ffnal bonds tc be issued whel all <br />contracts havQ been let - and the Council has already done that - <br />tctaled g1�0,U00. So the improvemont is $L0,000 less than wt thought. <br />l�:hether cr not the same thing can be accomplishQd h�re is another <br />factcr . <br />In Im,provement tdc. 2 under Projected Costs No. 1 shcxs tha <br />estimoted imprcvement costs which are the actual constructicn <br />costs as estimoted by the engineer. "This fncludes the acquisition <br />of easements and things o£ that nature� which has been rounded <br />off as shown in ;Jo. 2 to $35C�GCO.CO, tho difference being mad• <br />up by what wQ call capitalizad interest which we must pay during <br />the time that the construction is going on befcre w� are able <br />to receive aur assessments back frcm the people. In other words, <br />the tetal eest would be �350,OG0 for the whole improvement and <br />bcnds would be issued in this amount. <br />Yeu will notice in Ne. 3 that it is anticipated that none of <br />� <br />that bcnd issua will be sprQad on general taxes. In other Nords. <br />there would be no mill rate increase fcr purposes of this sewer and <br />it follcws the same pattern as has been indicated tc thQ people <br />in connecticn with ImPrcvement t3o. 1, tha eact portion of Lake <br />Johanna. In oth�r words� those aroas that �Nill be getting sewer, <br />assuming the Council goes ahead, will be paying for this by full <br />assessmants :Jithout any portion of it spread on a mill rate <br />increase which means that anybody living north of the railrcad <br />tracks will not contsibute in any way and this is a policy question <br />dnd a policy determination that this Council pwde in ccnnection <br />