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<br />Project Desie:nation & Description <br />1993 Street Improvements <br /> <br />Total Project Costs <br /> <br />Construction <br />Capitalized Interest, administrative & engineering <br /> <br />Costs of Issuance <br />Subtotal <br />Discount <br />TOTAL <br /> <br />$2,325,500 <br />125,000 <br /> <br />12,000 <br />$2,462,500 <br />37,500 <br />$2,500,000 <br /> <br />(b) it is necessary and expedient to the sound financial management <br />of the affairs of the City to issue $2,500,000 General Obligation Improvement <br />Bonds, Series 21 (Bonds) pursuant to the Act to provide financing for the <br />Improvements. <br /> <br />2. To provide financing for the Improvements, the City will issue and sell <br />Bonds in the amount of $2,462,500. 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 $37,500. The excess of the purchase price of the Bonds over the sum of <br />$2,462,500 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 /> <br />DJK81455 <br />RS200-14 <br />