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issuance of the Bonds is hereby authorized. The proceeds from the issuance and sale of the Bonds shall be used to pay the costs of various public improvements projects described below in substantially the amounts set forth opposite the descriptions of the respective projects: Purpose Amount Drainage and Street Improvement $ 1,556,400 Education 5,555,248 Public Utilities 6,158,000 Municipal Facilities 2,425,000 Miscellaneous 175,000 Total $15,869,648 provided that if any such project shall require less than the entire rcspective amount set forth above, the difference may be applied to pay the cost of any other project set forth. 2. Pledge of Full Faith and Credit. The full faith and credit of the City are hereby irrevocably pledged for the payment of the principal of, premium, if any, and interest on the Bonds as the same become due and payable. The City Council shall levy an annual ad valorem tax upon all property in the City, subject to local taxation, sufficient, to pay the principal of, premium, if any, and interest on the Bonds as the same become due and payable unless other funds are lawfully available and appropriated for the timely payment thereof. 3. Details and Sale of Bonds. The Bonds shall be issued and sold upon the terms established pursuant to this Resolution and upon such other terms as may be determined in the manner set forth in this Resolution. The Bonds shall be issued in fully registered form, shall be dated such date as the Chief Financial Officer may approve, shall be in denominations of $5,000 and integral multiples thereof and shall be numbered from R-1 upwards consecutively. The Bonds shall be issued in one or more series in such aggregate principal amount, and may be combined with other authorized general obligation bonds of the City, including refunding bonds,