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Don Pauley <br />August 10, 1989 <br />Page 2 <br />The use of a combined taxable and tax exempt financing on the project has the benefit <br />of maximizing the City's borrowing capacity by generating more funds than would be <br />and amount of <br />generated if the entire financing were done on a taxable basis. As a result oft e <br />utilization of tax exempt bonds, there are limitations on the types <br />security which can be obtained to secure debt service on the tax exempt bonds <br />However, I believe that we have srut financing beingtused which provides the maximum <br />io <br />security to the City given the type <br />Please let me know if you would 'like any clarification or additional information <br />concerning the agreement. <br />Sincer;yl <br />V <br />Rober <br />RJD:jes <br />0 <br />