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� - ., <br /> - 4 - <br /> for the welfare of the government and affairs of the City, and it <br /> is in the public interest of the City and the public welfare of <br /> its citizens and its inhabitants that $10,750 , 000 be borrowed at <br /> this time for the purpose of paying the cost of constructing <br /> improvements and extensions to the existing system of surface <br /> water drains in and for said City, such improvements and extensions <br /> being necessary to dispose of excess surface water and to prevent <br /> flooding and the hazards tQ the public health which may result <br /> from excessive rainfall and flooding conditions , and the construction <br /> of such improvements and extensions being deemed necessary to <br /> serve the public welfare and needs of the inhabitants within the <br /> City, and in evidence thereof bonds of said City in the principal <br /> amount of $10,750,000 be issued without the submission of the <br /> question of their issuance to the electcrs of the City for their <br /> approval. That said bonds shall be dated March 1, 1982 , shall <br /> be designated "General Obligation Surface Water Drainage System <br /> Bonds, Series of 1982" , shall be numbered consecutively from 1 <br /> to 2,150, inclusive, shall be of the denomination of $5 ,000 <br /> each, and shall become due serially on January 1 of each of the <br /> years and in the amounts and bearing interest per annum as follows : <br /> Year Amount Rate of Interest <br /> 1991 $615 ,000 11.25� <br /> 1992 685 ,000 11 .50 <br /> 1993 760 ,000 11 . 75 <br /> 1994 850, 000 12 .00 <br /> 1995 950 ,000 12 .25 <br /> 1996 1,070 ,000 12 .50 <br /> 1997 1,205 ,000 12 .75 <br /> 1998 1, 355 , 000 13 . 00 � <br /> 1999 1,530,000 13 .00 <br /> 2000 1, 730 ,000 13 .00 <br />