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Land Sale Proceeds <br />($35,500) <br />($35,364) <br />Other <br />($11,679) <br />MSA Fund <br />($27,500) <br />Special Assessments <br />($39,000) <br />NET PROJECT COSTS <br />$39,500 <br />$155,490 <br />$200,000 <br />It is anticipated that the estimated costs described above will be financed from tax increments from <br />Tax Increment Financing District No. 1 -1. <br />As an alternative to issuing Tax Increment Bonds, the City reserves the right to pay for the <br />above - listed public costs as tax increments are generated and available, thereby eliminating the need <br />for the issuance of Tax Increment Bonds. <br />The estimate of public costs associated with Tax Increment Financing District No. 1 -1, located <br />within Development District No. 1, are outlined in the previous table. This estimate of public costs <br />is intended to supplement any previous estimate of project costs found in the Development Program <br />for Development District No. 1 and the Tax Increment Financing Plan for Tax Increment Financing <br />District No. 1 -1 as established on June, 1987 and modified on June 12, 1990. The budget is intended <br />to authorize additional expenditures over and above any expenditures made in any category as of the <br />date of this modification. <br />Estimated Amount of Bonded Indebtedness <br />It is anticipated that bonded indebtedness will be incurred with respect to this portion of <br />Development District No. 1 in an amount not exceeding $5,000,000. However, the City wishes to <br />reserve the right to pay for the public costs listed in the Development Program as tax increments are <br />generated and become available, in lieu of issuing tax increment financing bonds. <br />It is anticipated that the City may issue a revenue bond, general obligation bond, or other type of <br />obligation in one or more series to finance any or all of the total costs authorized to under the TIF <br />Plan. The total bonded indebtedness authorized in this Plan modification is in addition to any TIF <br />Bonds as of the date of this modification. <br />Modified Tax Increment Financing Plan for Tax Increment Financing District No. 1 -I 3 <br />Page 15 <br />