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It was reported that proposals for the purchase of the $525,000 <br /> General Obligation Improvement Bonds, Series 1994B of the City (the "Bonds") in <br /> accordance with the Terms of Proposal for the sale of the Bonds approved by the City <br /> Council by Resolution 94-031, adopted April 26, 1994. The bids have been opened, <br /> read and tabulated, and the terms of each were found to be as follows: <br /> Bidder Purchase Price Interest Rates Net Interest Cost <br /> i <br />