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(c) <br /> <br />the City is authorized by Section 469.178 of the TIF Act to issue <br />and sell its general obligations to pay all or a portion of the <br />public development costs (Costs) related to the District as <br />identified in the development program and tax increment <br />financing plans (Plan) for the TIF Districts; <br /> <br />(d) <br /> <br />the following Costs to be financed by the Bonds are authorized <br />by the Plan: <br /> <br />Public Improvements: <br /> <br />Redevelopment Cost <br /> <br />Public Improvements: <br /> Uranium Street <br /> McKinley Street <br /> AEC Utility Extension * <br /> Sunwood Drive * <br /> Subtotal <br /> Costs of Issuance <br /> Allowance for Discount Bidding <br /> Less: Investment Earnings <br /> <br />$ 254,400 <br />527,950 <br />1,121,000 <br />635,300 <br />$2,538,650 <br />36,500 <br />39,000 <br />(14,150) <br /> <br />Total Bond Issue: <br /> <br />$2,600,000 <br /> <br />Represents only that portion of total project costs to be financed with this <br />bond issue. <br /> <br />(e) <br /> <br />it is necessary and expedient to the sound financial <br />management of the affairs of the City to issue $2,600,000 <br />General Obligation Tax Increment Bonds, Series 1995A <br />(Bonds) to provide financing for the Costs. <br /> <br /> 2. In order to provide financing for the Costs, the City will therefore <br />issue and sell Bonds in the amount of $2,561,000. In order to provide in part the <br />additional interest required to market the Bonds at this time, additional Bonds <br />will be issued in the amount of $39,000. The excess of the purchase price of the <br />Bonds over the sum of $2,561,000 will be credited to the debt service fund for the <br />Bonds for the purpose of paying interest first coming due on the additional <br />Bonds. The Bonds will be issued, sold and delivered in accordance with the <br />terms of the following Terms of Proposal: <br /> <br />SJB84409 <br />RA125-36 <br /> <br /> <br />