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to pay the costs of various public ~mprovemem projects described below in substantially the amounts set forth opposite the descriptions of the respective projects: Purpose Drainage and Street Improvement Educanon Public Utilities Miscellaneous Municipal Facilities Total Amoum $ 2,371.400 600,000 9,010,000 218,600 4,810.000 $17,010.000 provided that if any such project shall reqmre less than the entire respecnve amount set forth above, the difference may be applied to pay the cost of any other project set forth. 2. Pled.~e of Full Faith and Credit The full faith and credit of the City are hereby irrevocably pledged for the payrnent of the principal of, premmm, 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 ro local taxation, sufficient to pay the pr/nc/pa] 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 thereo£ 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 se~ 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 denom~nanons 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 ~n such aggregate principal amount, and may be combined with other authorized generaI obligation bonds of the City, including refunding bonds, and shall mature on such dates and in such mounts as the Chief Financial Officer may approve, -2-