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<br />Project Designation & Description~ <br /> <br />Improvement Projects P-85-20C, P-86-16, P-ST-86-34, P-M 87-20, P-88-02, ST 88- <br />07 and SW 88-08 <br /> <br />Total Project Cost <br /> <br />TOT AL$ <br /> <br />$1,897,888 <br />57,112 <br />15,000 <br />$1,970,000 <br />30,000 <br /> <br />$2,000,000 <br /> <br />Construction Contracts <br />Capitalized Interest <br />Costs of Issuance <br />Subtotal <br />Discount <br /> <br />(b) it is necessary and expedient to the sound financial management of <br />the affairs of the City to issue $2,000,000 General Obligation <br />Improvement Bonds, Series 16 (Bonds) pursuant to the Act to provide <br />financing for the Improvements. <br /> <br />2. To provide financing for the Improvements, the City will issue and <br />sell Bonds in the amount of $1,970,000. To provide in part the additional interest <br />required to market the Bonds at this time, additional Bonds will be issued in the <br />amount of $30,000. The excess of the purchase price of the Bonds over the sum of <br />$1,970,000 will be credited to the debt service fund for the Bonds for the purpose <br />of paying interest first coming due on the additional Bonds. The Bonds will be <br />issued, sold and delivered in accordance with the terms of the following Official <br />Terms of Offering: <br />