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• <br />• <br />(a) the following assessable public improvements (the <br />Improvements) have been made, duly ordered or contracts <br />let for the construction thereof, by the City pursuant <br />to the provisions of the City's home rule charter <br />(Act) : <br />Project Designation & Description: <br />Total Project Cost <br />Permanent financing for 1985 Bonds $ 1,298,602 <br />Construction: Ash Street (less prepayments) 94,316 <br />Main Street (less prepayments) 46,859 <br />Costs of Issuance 18,023 <br />Subtotal $ 1,457,800 <br />Discount 22,200 <br />TOTAL $ 1,480,000 <br />(b) it is necessary and expedient to the sound financial <br />management of the affairs of the City to issue <br />$1,480,000 General Obligation Improvement Bonds, Series <br />1988A (Bonds) pursuant to the Act to provide financing <br />for the Improvements. <br />2. In order to provide financing for the Improvements, the City <br />will therefore issue and sell Bonds in the amount of $1,457,800. In <br />order to provide in part the additional interest required to market <br />the Bonds at this time, additional Bonds will be issued in the amount <br />of $22,200. The excess of the purchase price of the Bonds over the <br />sum of $1,457,800 will be credited to the debt service fund for the <br />Bonds for the purpose of paying interest first coming due on the <br />additional Bonds. The Bonds will be issued, sold and delivered in <br />accordance with the terms of the following Official Terms of Offering: <br />