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<br />The General Obligation Tax Increment Bonds, Series 1, will <br />be issued to ~rovide funds to defray the costs of land <br />acquisition and certain capital and administration costs in <br />Municipal Development District No. 1 in the City. <br /> <br />2. This Council shall meet at the time and place <br />specified in the form of notice hereinafter contained for the <br />purpose of opening and considering sealed bids for, and award- <br />ing the sale of $16,535,000 Bonds of 1985 consisting of <br />$2,225,000 General Obligation State Aid Highway Bonds and <br />$14,300,000 General Obligation Tax Increment Bonds, Series 1 of <br />said City. <br /> <br />3. The City Manager is hereby authorized and directed to <br />cause notice of the time, place and purpose of said meeting to <br />be published in the official newspaper of the City and in <br />Commercial West not less than ten days in advance of date of <br />sale, as provided by law, which notice shall be in substan- <br />tially the form set forth in Exhibit A attached hereto. <br /> <br />4. The terms and conditions of said bonds and the sale <br />thereof are fully set forth in the "Notice of Bond Sale" <br />attached hereto as Exhibit A and incorporated herein by <br />reference. <br /> <br />The motion for the adoption of the foregoing resolution <br />was duly seconded by member Kehr and upon a vote <br />being taken thereon, the following voted in favor thereof: <br />Demos, Curley, Franke, Johnson and Kehr <br /> <br />and the following voted against the same: <br /> <br />None <br />Whereupon said resolution was declared duly passed and <br />adopted. <br />