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2. The fult faith and credit of the 'City shall be <br /> <br />principal of and interest on the Bonds as the same become <br />due. In each year while the Bonds, or any of them, are <br />outstanding and unpaid, there 'shall be assessed, levied and <br />collected, upon all property within-the City subject to <br />taxation by the City, a tax sufficient to prov±de for the <br />payment of the principal of and interest on the Bonds as the <br />same become due. <br /> <br /> 3. The proceeds of sale of the Bonds Shall be applied <br />tO the payment of .tlhe Costs of the public improvement pro- <br />jects described below~n, substantially the amounts set~ <br />forth opposite the descriptions of the respective projects: <br /> <br />Projects Amount <br /> <br />Community Services <br />Parks and Recreation <br />Public Safety <br />Drainage, Curbs, Gutters, <br /> Street Improvements <br />Urban Transportation <br />Urban Renewal <br />Crawford Harbor-Waterfront <br /> <br />and <br /> <br />S 708,171 <br /> 80,000 <br /> 429,000 <br /> <br /> f46,!00 <br /> 795,000 <br /> 450,000 <br />2,673,543 <br /> <br />Total - i _. $ 5,281,814 <br /> <br />prowided, that if~any- such project shal~ require less than <br />%he entire respective amount set forth above, the difference <br />may be applied to pay the cost of any other project so set <br />forth. <br /> <br /> 4.. In anticipation of the issuance of the Bonds <br />and the receipt of the proceeds thereof, there are hereby <br />authorized to be issued and sold S5,281,814 aggregate <br />prlncipa! amount of general obligation bond anticipation <br />notes of the City .C~he "Notes"). The proceeds of the Notes <br />shall be applied for the same purposes and in the same <br />respective amounts as are specified in paragraph 3 with <br />respect to the application of the proceeds of the Bonds. <br />The Notes may be issued in their entirety at one time, or~ <br />in part from time to time, at any time; shall mature and <br />be-payable within two years from their dat~ and-shall be <br />sold at Com~petitiv~ or'h~go%i~te~.~at~at no, less than <br />par plus interest accrued thereon from the date thereof <br />to the ~ate of the delivery-thereof and payment therefor <br />and on such other terms and conditions as are determined <br />by the D~rector of Finance of the City. ~he City may sell <br /> <br /> <br />