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Allowance for Discount Bidding <br />Total Series 1996 B Bonds <br />44,750 <br />$3,320,000 <br />(c) it is necessary and expedient to the sound financial management <br />of the affairs of the City to issue $3,320,000 General Obligation Water Revenue <br />Bonds, Series 1996B (Bonds) pursuant to the Act to provide financing for the <br />Project. <br />2. In order to provide financing for the Project, the City will therefore <br />issue and sell Bonds in the amount of $3,275,250. To provide in part the additional <br />interest required to market the Bonds at this time, additional Bonds will be issued <br />in the amount of $44,750. The excess of the purchase price of the Bonds over the <br />sum of $3,275,250 will be credited to the debt service fund for the Bonds for the <br />purpose of paying interest first coming due on the additional Bonds. The Bonds will <br />be issued, sold and delivered in accordance with the terms of the following Terms of <br />Proposal: <br />DJR106529 <br />LN140 -51 <br />