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04-067
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04-067
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Last modified
7/8/2005 3:37:07 PM
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7/8/2005 10:26:27 AM
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<br />. . <br /> <br />! <br />I <br />I <br />I Proiect Designation & Description: <br />! <br />i <br /> <br />Total Proiect Cost <br /> <br />Project Costs <br />Capitalized Interest <br />Costs of Issuance <br />Underwriter's Discount <br /> <br />$1,210,373.33 <br />22,826.67 <br />19,150.00 <br />12,650.00 <br /> <br />Total Issue <br /> <br />$1,265,000.00 <br /> <br />(b) it is necessary and expedient to the sound financial management of <br />the affairs of the City to issue $1,265,000 General Obligation Improvement Bonds, Series <br />2004C (Bonds) pursuant to the Act to provide financing for the Improvements. <br /> <br />2. To provide financing for the Improvements, the City will issue and sell Bonds in <br />the amount of $1,252,350. To provide in part the additional interest required to market <br />the Bonds at this time, additional Bonds will be issued in the amount of $12,650. The <br />excess of the purchase price of the Bonds over the sum of $1,252,350 will be credited to <br />the debt service fund for the Bonds for the purpose of paying interest first coming due on <br />the additional Bonds. The Bonds will be issued, sold and delivered in accordance with <br />the terms of the following Terms of Proposal: <br />
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