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I <br />I <br />I <br />I <br />I <br /> <br /> (c) The outstanding bonds to be refunded (Refunded Bonds) consist <br />of the $2,800,000 General ObLigation Tax Increment Bonds, Series 1987A, <br />dated August l, 1987, of which $2,500,000 in principal amount is now <br />outstanding, $2, ! 50,000 of which is callable on February 1, ~ 996. <br /> <br /> 2. To provide moneys to refund in advance of maturity the Refunded <br />Bonds, the City will therefore issue and sell Bonds in the approximate amount of <br />$2,225,250. To provide in part the additional interest required to market the Bonds <br />at this time, additional Bonds will be issued in the amount of $24,750. The excess <br />of the purchase price of the Bonds over the sum of $2,225,250 will be credited to the <br />debt service fund for the Bonds for the purpose of paying interest first coming due <br />on the additional Bonds. The Bonds will be issued, sold and delivered in accordance <br />with the terms of the following Terms of Proposal: <br /> <br />BlgG58320 <br />1R,~125-35 <br /> <br /> <br />