2010-79 PROVIDING FOR THE ISSUANCE OF FOUR SERIES OF GENERAL OBLIGATION BONDS

Home Browse Search

Section 3. Determination to Issue Bonds. It is necessary and in the best interests of the City to provide for the TIF Project, to acquire and construct the 2010B Project and the 2010C Project, and to undertake the Bond Refunding, to pay all related costs and expenses incidental thereto, and to borrow money and issue the Bonds for such purposes. It is hereby found and determined that such borrowing of money is necessary for the welfare of the government and affairs of the City, is for a proper public purpose or purposes and is in the public interest, and is authorized pursuant to the Act; and these findings and determinations shall be deemed conclusive. Section 4. Bond Details. For the purpose of providing for the payment of the costs of the TIF Project, the 2010B Project, the 2010C Project and the Refunding and to pay all related costs and expenses incidental thereto, there shall be issued and sold the Bonds in the principal amount of $41,590,000. The Bonds shall be issued in four series and shall be designated "Taxable General Obligation Bonds, Series 2010A, " "Taxable General Obligation Bonds, Series 2010B," "General Obligation Bonds, Series 2010C," and "General Refunding Obligation Bonds, Series 2010D," The Series 2010A Bonds constitute the TIF Project Bonds. The Series 2010B Bonds constitute the 2010B Project Bonds. The Series 2010C Bonds constitute the 2010C Project Bonds. The Series 2010D Bonds constitute the Refunding Bonds. The Bonds shall be dated the date of issuance thereof (the "Dated Date"); and shall also bear the date of authentication thereof. -10-