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1 <br />175 <br />Project Designation & Cost: <br />Refinance $1,650,000 General Obligation Temporary <br />Bonds, Series 1987A <br />Construction of Second Avenue Improvement Project <br />Capitalized Interest <br />Costs of Issuance <br />Subtotal $1,005,865 <br />Discount 9,135 <br />TOTAL $1,015,000 <br />(b) it is necessary and expedient to the sound financial management of the affairs of <br />the City to issue $1,015,000 General Obligation Temporary Improvement Bonds, <br />Series 1990B (Bonds) pursuant to the Act to provide temporary financing for the <br />Improvements. <br />2. To provide temporary financing for the Improvements, the City will therefore <br />issue and sell Bonds in the amount of $1,005,865. To provide in part the additional interest <br />required to market the Bonds at this time, additional Bonds will be issued in the amount of <br />$9,135. The excess of the purchase price of the Bonds over the sum of $1,005,865 will be <br />credited to the debt service fund for the Bonds for the purpose of paying interest first <br />coming due on the additional Bonds. The Bonds will be issued, sold and delivered in accor- <br />dance with the terms of the following Official Terms of Offering: <br />