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! <br />I$ <br /> I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br /> (c)~ The outstanding bonds to be refunded (Refunded Bonds) consist <br />of th. $2,800,000 General Obligation Tax Increment Bonds, Series 1987A, <br />dated. August 1, 1987, of which $2,500,000 in principal amount is now <br />outstanding, $2,150,000 of which is callable on February 1, 1996. <br /> <br /> 2 <br />Bonds, 'the <br />$2,225,250, <br />at this time <br />of the purc!~ <br />debt service <br />on the addft; <br /> <br /> provide moneys to ~efund in advance of maturity the Refunded <br />Cit~ will therefore issue and sell Bonds in the approximate amount of <br />! T~:provide in part the additional interest required to market the Bonds <br />adtiitional Bonds will be issued in the amount of $24,750. The excess <br />as~price of the Bonds over the sum of $2,225,250 will be credited to the <br />fu~d for the Bonds for the purpose of paying interest first coming due <br />ional Bonds. The Bonds will be issued, sold and delivered in accordance <br /> <br />with the ter~ns 0f the following Term~ of Proposal: <br /> <br />SN~58320 <br /> <br /> <br />