Laserfiche WebLink
<br />:. ~ , <br /> <br />Project Designation & Description: <br /> <br />Construction Costs <br />A. Peltier Lake Drive, Mill Road, <br />Shad Avenue and Center Street <br />B. Sorel Street <br /> <br />Project Cost <br /> <br />Total <br /> <br />$420,324 <br />24,615 <br />$444,939 <br /> <br />Engineering (15%) <br />Contingencies (3.5%) <br />Administration (3%) <br />Fiscal (2.5%) <br />Legal (1%) <br /> <br />$66, 740 <br />15,572 <br />13,348 <br />11,123 <br />5,078 <br /> <br />$111,861 <br />10,000 <br />48,200 <br /> <br />Discount <br />Capitalized Interest <br /> <br />Total <br /> <br />$615,000 <br /> <br />(b) That it is necessary and expedient to the sound finan- <br />cial management of the affairs of the City to issue <br />$615,000 General Obligation Improvement Bonds of 1987 <br />(Bonds) pursuant to the Act to provide financing for <br />the Improvements. <br /> <br />2. In order to provide financing for the Improvements, the City <br />shall therefore issue and sell Bonds in the amount of $605,000. In <br />order to provide in part the additional interest required to market <br />~he Bonds at this time, additional Bonds shall be issued in the amount <br />of $10,000. Any excess of the purchase price of the Bonds over the <br />sum of $605,000 shall be credited to the debt service fund for the <br />Bonds for the purpose of paying interest first coming due on such <br />additional Bonds. The Bonds shall be issued J sold and' delivered in <br />accordance with the terms of the following Official Notice of Sale: <br />