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Project Designation & Description: Total Project Cost <br /> Hunters Crossing Improvements <br /> Construction Costs $502,780.00 <br /> Contingencies and Engineering 120,667.20 <br /> Subtotal $623,447.20 <br /> Costs of Issuance 23,929.38 <br /> Less: Est. Const. Fund Inv. Income (1,108.35) <br /> Subtotal $649,568.23 <br /> Rounding Factor 431.78 <br /> Total Issue $650,000.00 <br /> (b) it is necessary and expedient to the sound financial management of the <br /> affairs of the City to issue $650,000 General Obligation Improvement Bonds of 2000 <br /> (Bonds) pursuant to the Act to provide financing for the Improvements. <br /> 2. To provide financing for the Improvements, the City will issue and sell Bonds in <br /> the amount of $640,250. To provide in part the additional interest required to market the Bonds <br /> at this tune, additional Bonus will be issued in the amount of $9,750. The excess of the purchase <br /> price of the Bonds over the sum of $640,250 will be credited to the debt service fund for the <br /> Bonds for the purpose of paying interest first coming due on the additional Bonds. The Bonds <br /> will be issued, sold and delivered in accordance with the terms of the following Terms of <br /> Proposal: <br />