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<br />duly ordered by the Ci ty and have been con- <br />structed by the Ci ty or will be constructed <br />under contracts which the City has or will let <br />therefor, all pursuant to and in accordance <br />with Minnesota Statutes, Chapter 429: <br /> <br />Subtotal <br /> <br />project Costs <br />$ 600,000 <br /> 542,500 <br /> 145,900 <br /> 56,200 <br /> 20,100 <br />and <br /> 412,000 <br />$ 1,776,700 <br /> 30,543 <br /> 277,382 <br /> 40,375 <br />$ 2,125,000 <br /> <br />Project Designation & Description <br /> <br />Long Lake Road Upgrading <br />Old Downtown Street Rehabilitation <br />Belair #9 Street and Utility <br />1st Street and 3rd Avenue S.E. Street <br />Rehabilitation <br />Innsbruck Office Park Utilities <br />United Theology Seminary Plat Streets <br />Utilities <br /> <br />Issuance Costs <br />Capitalized Interest <br />Allowance for Discount <br /> <br />Total <br /> <br />(b) That it is necessary and expedient to the <br />sound financial management of the affairs of <br />the city that the City issue its bonds pursu- <br />ant to Minnesota statutes, Chapters 429 and <br />475, to provide financing for the Improve- <br />ments. <br /> <br />2. The City shall therefore issue and sell its <br />$2,125,000 General Obligation Improvement Bonds of 1986, <br />Series A (the "Bonds"), to provide financing of the Improve- <br />ments, and $40,375 of such amount shall represent additional <br />bonds issued pursuant to Minnesota Statutes, Section 475.56, <br />as additional interest required to market the Bonds at this <br />time. The Bonds shall be issued and sold in accordance with <br />the following Official Notice of Sale: <br /> <br />- 2 - <br />