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2004-04-14 WS & CC Meeting
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2004-04-14 WS & CC Meeting
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<br />Project Designation & Description: <br /> <br />Total Proiect Cost <br /> <br />Total Issue <br /> <br />$2,430,000.00 <br />119,158.33 <br />(3,418.50) <br />(739.83) <br /> <br />$2,545,000.00 <br /> <br />Street Improvement Project <br />Costs of Issuance <br />Less: Est. Constr. Fund Invest Income <br />Rounding Factor <br /> <br />(b) it is necessary and expedient to the sound financial management of <br />the affairs of the City to issue $2,545,000 General Obligation Improvement Bonds, Series <br />2004B (Bonds) pursuant to the Act to provide financing for the Improvements. <br /> <br />2. To provide financing for the Improvements, the City will issue and sell Bonds in <br />the amount of $2,506,825. To provide in part the additional interest required to market the <br />Bonds at this time, additional Bonds will be issued in the amount of$38,175. The excess of the <br />purchase price of the Bonds over the sum of$2,506,825 will be credited to the debt service fund <br />for the Bonds for the purpose of paying interest first coming due on the additional Bonds. The <br />Bonds will be issued, sold and delivered in accordance with the terms of the following Terms of <br />Bond Sale: <br /> <br />SJB.24320IvI <br />CEI55.21 <br />
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