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Project Designation & Description: <br /> <br /> Total <br />Project Cost <br /> <br />West Pond Projects 91-13 and 91-14 (Phase I) <br /> <br />Plans and Specifications <br />Engineering <br />Construction <br /> <br />$ 53,570 <br /> 136,425 <br /> 1~254:482 <br /> <br />Subtotal <br /> <br />$ 1,444,477 <br /> <br />Plus: Capitalized Interest (to 10-15-92) <br /> Costs of Issuance <br /> Allowance for Discount Bidding <br />Less: Investment Earnings <br /> <br />50,000 <br />21,130 <br />13,725 <br />(4,332) <br /> <br />TOTAL BOND ISSUE <br /> <br />1,525,000 <br /> <br /> (b) it is necessary and expedient to the sound financial management <br />of the affairs of the City to issue $1,525,000 General Obligation Temporary <br />Improvement Bonds, Series 1992A (Bonds) pursuant to the Act to provide <br />temporary financing for the Improvements. <br /> <br /> 2. To provide temporary financing for the Improvements, the City will <br />therefore issue and sell Bonds in the amount of $1,511,275. To provide in part the <br />additional interest required to market the Bonds at this time, additional Bonds will <br />be issued in the amount of $13,725. The excess of the purchase price of the Bonds <br />over the sum of $1,511,275 will be credited to the debt service fund for the Bonds <br />for the purpose of paying interest first coming due on the additional Bonds. The <br />Bonds will be issued, sold and delivered in accordance with the terms of the <br />following Terms of Proposal: <br /> <br />SNG26303 <br />RA125-32 <br /> <br /> <br />