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requesting such transfer or exchange of any tax or other governmental charges required to <br />be paid with respect to such transfer or exchange. All Bonds surrendered pursuant to this <br />paragraph shall be cancelled. <br /> <br /> 4. The full faith and credit of the City shall be and hereby is irrevocably <br />pledged to the punctual payment of the principal of and interest on the Bonds as the same <br />respectively become due and payable. In each year while the Bonds, or any of them, are <br />outstanding and unpaid, there shall be assessed, levied and collected, at the same time and <br />in the same manner as other taxes in the City are assessed, levied and collected, an ad <br />valorem tax upon all property subject to Iaxation by the City, without limitation as to rate <br />or amount, sufficient to provide for the payment of the principal of and interest on the <br />Bonds as the same respectively become due and payable. <br /> <br /> 5. CUSIP identification numbers may be printed on the Bonds, but no <br />such number shall constitute or be deemed to be a part of the contract evidenced by the <br />particular Bond upon which it is printed and no liability shall attach to the City or any officer <br />or agent thereof (including any paying agent for the Bonds) by reason of such numbers or <br />any use made thereof (including any use thereof made by the City, any such officer or any <br />such agent) or by reason of any inaccuracy, error or omission with respect thereto or in such <br />use. All expenses in relation to the printing of such numbers on the Bonds shall be paid by <br />the City including the CUSIP Service Bureau charge for the assignment of such numbers. <br /> <br /> 6. The City covenants that it shall comply with the provisions of Sections <br />103 and 141-150 of the Internal Revenue Code of 1986 and the Treasury Regulations <br />promulgated or proposed to be promulgated thereunder, applicable to the Bonds, <br />throughout the term of the Bonds. <br /> <br /> 7. The proceeds of sale of the Bonds shall be applied to the payment of <br />the costs of the following public improvement projects in substantially the respective <br />amonnts: · : <br /> <br />Projects Amount <br /> <br />Drainage, Curbs, Gutters and Street Improvements <br />Education <br />Priority Action Program <br />Industrial and Economic Development <br />Parks and Recreation <br />Public Safety <br />Municipal Facilities and Community Services <br /> <br />Total <br /> <br />$ 3,354,554 <br />11,473,132 <br />371,279 <br />3,154,022 <br />1,334,537 <br />639,311 <br />2.708,165 <br /> <br />$23~035~000 <br /> <br /> <br />