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1990_0723_packet
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1990_0723_packet
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11/8/2011 2:29:49 PM
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61 <br />©§ This Council has been, advised by represent at ives <br />of the Borrowler that, conventional, commercial financing to pay <br />ip <br />the cost Of the Project is available only at such high costs of <br />0 <br />borrowing that, the economic feasib1413"Ay' of the Project would be <br />91 <br />reduced, <br />(d,) This Cloun,ci,l has also b advised by <br />rep, resent, a tives of the Borrower tha,t on the basis of their <br />t " I I <br />is cu ssi ns <br />,oi, with potential buyers of' tax-exempt bondso revenue <br />01 <br />bonds of' the Cy (whilch, may be in the,, form of a revenue note <br />or notes) cou,ld, be issueld and sold upon favorable rates and <br />�& I <br />terms to finance the Pro] i ect, AV <br />,© \ #I,, - <br />IC n- oft <br />wpm <br />vp <br />, UTIO « j@ IP <br />2,10 On ^® basis of the nformation given the City to date, <br />it appears that it would be desi,ra,ble foir the City to iss T <br />P ue it <br />rovisions <br />revenue, bonds under the p of the Act to finance the <br />VI <br />Project 'in the maximum aiggreq...ate face amount of $8,t125,1000, <br />
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