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<br />(c) the City is authorized by Section 469.178 of the TIF Act to issue <br />and sell its general obligations to pay all or a portion of the public <br />development and redevelopment costs (Costs) related to the District as <br />identified in the development program and tax increment financing plan (Plan) <br />for the TIF District; <br /> <br />(d) the following Costs to be financed by the Bonds are authorized <br />by the Plan: <br /> <br />Project Designation & Description <br /> <br />Total Project Costs <br /> <br />Gymnastics Center <br />Parkland <br />Oval Addition <br />Pathways <br />Costs of Issuance (Discount, <br />legal ratings, etc.) <br /> <br />$ 850,000 <br />600,000 <br />1,000,000 <br />475,000 <br /> <br />Total <br /> <br />75,000 <br />$3,000,000 <br /> <br />(e) it is necessary and expedient to the sound financial management <br />of the affairs of the City to issue $3,000,000 General Obligation Tax Increment <br />Bonds, Series 1995 (Bonds) to provide financing for the Costs. <br /> <br />2. To provide financing for the Improvements, the City will issue and sell <br />Bonds in the amount of $2,955,000. 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 $45,000. The excess of the purchase price of the Bonds over the sum of <br />$2,955,000 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 /> <br />DJK81515 <br />RS200-14 <br />