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<br />..! It <br /> <br />4. <br /> <br />Project Desi~nation & Description: <br /> <br />Total <br />Project Cost <br /> <br />Total <br /> <br />$ 84,000.00 <br />380,700.00 <br />15,350.00 <br />12,970.00 <br />(2,970.00) <br />$490,050.00 <br />4,950.00 <br /> <br />$495,000.00 <br /> <br />Oakwood Drive Storm Sewer <br />Wexford Phase II <br />Capitalized Interest <br />Costs of Issuance <br />Less Investment Earnings <br />Subtotal <br />Discount <br /> <br />(b) it is necessary and expedient to the sound financial management <br />of the affairs of the City to issue $495,000 General Obligation Improvement <br />Bonds, Series 1992A (Bonds) pursuant to the Act to provide financing for the <br />Improvements. <br /> <br />2. To provide financing for the Improvements, the City will issue and sell <br />Bonds in the amount of $490,050. To provide in part the additional interest required <br />to market the Bonds at this time, additional Bonds will be issued in the amount of <br />$4,950. The excess of the purchase price of the Bonds over the sum of $490,050 will <br />be credited to the debt service fund for the Bonds for the purpose of paying interest <br />first coming due on the additional Bonds. The Bonds will be issued, sold and <br />delivered in accordance with the terms of the following Terms of Proposal: <br /> <br />SJB40490 <br />NE136-97 <br />