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<br />( c) the City is authorized by section 469.178 of the TIF Act to issue and sell its <br />general obligations to pay all or a portion of the public redevelopment costs (Costs) related <br />i to the District as identified in the redevelopment program and tax increment financing plans <br />(plans) for the TIF District. <br /> <br />(d) the Plans authorize the following Costs to be financed by the general <br />obligations: <br /> <br />Public Improvements <br /> <br />Total Development Cost <br /> <br />Various Development Costs <br />Total Underwriter's Discount (0.900%) <br />I Costs of Issuance <br />Rounding Amount <br /> <br />$ <br /> <br />Total Issue <br /> <br />$5,160,000 <br /> <br />( e) It IS necessary and expedient to the sound financial management of the <br />affairs of the City to issue $5,160,000 Taxable General Obligation Tax Increment Bonds, <br />Series 2001 C (Bonds) to provide financing for the Costs; <br /> <br />2. To provide financing for the Costs, the City will issue and sell Bonds in the amount <br />of $5j 103,240. To provide in part the additional interest required to market the Bonds at this time, <br />additiqnal Bonds will be issued in the amount of $56,760. The excess of the purchase price of the <br />Bond$' over the sum of $5,103,240 will be credited to the debt service fund for the Bonds for the <br />purpose of paying interest first coming due on the additional Bonds. The Bonds will be issued, sold <br />and deUvered in accordance with the terms of the following Official Terms of Proposal: <br /> <br />SJB..19l454vl <br />NE136.,66 <br />