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<br />Conatruction~ elllill8erilll, and'iaaullee coata: <br />Water diatribution ad storale <br />Sorel Street illproveaenta <br /> <br />.320,600 <br />20,000 <br />.340,600 <br />24,000 <br />"64,600 <br />5,.00 <br />WO. IlQ <br /> <br />Capitaliz.d .~ntereat, eat. <br /> <br />PUIl4s needed <br />Plus allowa~e for diacount biddiDa <br /> <br />load i._ <br /> <br />( <br /> <br />1.02. Th..! Council h.r.by f1Dcla ad d.t.J:1I1Il.. that it ia aec.saary <br />&Del expedi.at to the aound fiaacial 1I&D&IBeDt of th. affaira of the' City <br />to, i88U.' ael aell ita .eaeral oblilatiODa punuaut to KiD_.ota: Statute.. <br />Chapten 429" &DCl 475 (Act) to fiDalle. all or .. portin of th.. co.t.. of the <br />IIIproveaezata. <br /> <br />1.03. III ,order to provid.. f1DaDc1Da for the IIIpr09__ts" the City' <br />shall therefor lane ad sell ita $364,600 GeIlera1 Obliaatiou Iaprov8MDt <br />Ioacl. of' 1988 (BoIIds) which lDclude $5,400 of BoDda- repreMDt1Da: acldit10Dal <br />tat.re.t. The City 18. authorized by Sectiou 475.60, Subelivisin 2(1) acI <br />(2) of the Act: to _Iotiate th. sal.. of the' BoDcla, there haviD&; beeD:DO, <br />Dalot1atecl' sale, of the City'. bODcla within the past 12 IIOIIths.. Theactiona <br />of the City' A.tQ\)rD&y f.D; aol1ctt1llC propouJ$ for: the: BoDcl. ._ ad:f1.e4 aD4 <br />cODfimecl :lD: aU. rupeeta'. ' <br /> <br />S~d.oa %.i Sale' of BODds. <br /> <br />2'.01.. on. off~ of Ani son-Williams Company <br />(Purcbaaer) to I*1"chu.. th.. BODcl.. 18 hereby f0UD4 aucl. el.tena1De~ to b. . <br />rea8ODab1e offe~ ael shall be ad fa her.by acceptK'". th.. offer bdDa. to <br />pure""" the.... at . price of _ 365,208.50 pl'ua accrued' mter.st ,to< data <br />of cla11vKY__ f~ BolIde" bear1Dc 1Iltenat _ loll...: <br />, ' <br /> <br />0.25% <br />5.401 <br />5.60%, <br />5.80% <br /> <br />Year of' <br />Maturity <br /> <br />1994- <br />1995 <br />1996 <br />1997 <br /> <br />IDter.st <br />Rate <br />- <br /> <br />Year of <br />Haturity <br /> <br />1990 <br />1991 <br />1992 <br />1993 <br /> <br />lat....t <br />late <br />- <br /> <br />6.00%, <br />6.Z5l <br />6.40% <br />6.50% <br /> <br />1Iet Effective I.tereat late: 6.3582% <br /> <br />the ... of' ,$22. Q92 . 50reprea.ating capitalized 1Dtereat ahall be credited to <br />the' Debt ServJ.ce Puucl createel by SectiODS. Th.. Kayar act City' <br />Clerk-Treaaurer. are elirect.d to execute .. cODtract with the- Purcbaaer on <br />behalf of the C$.ty. <br /> <br />2.02.. The City ahall fortbwtth iasue anel ..11 the BODds 111 the totalvpriacipaJ. 81IOUa~ of $'370,.000, oria1Dally elated.. of Karch 1,. 1988". in tlat <br />d8DOII1nat1ou of! $'5,000 or aDY iDtearal aultipl. thereof,., DUabere4.ao., &..1 <br />