Ordinance 1505-88 - Laserfiche WebLink

• costs incidental thereto and to the issuance of the Bonds is hereby declared to be as nearly as practicable the sum of $8,250, 000, which shall be provided form the proceeds of sale of the Bonds. By ordinance of the City, the Council may alter, make sub- stitutions to and amend such project descriptions as it determines is in the best interests of the City and consistent with the general descriptions provided herein. By ordinance of the City, the Council shall determine the application of moneys available for the Projects set forth above so as to accomplish, as nearly as may be, all improvements described as part of such Projects. The City shall determine the exact extent and specifications for construction of structures or other improvements. If the City Council by ordinance shall determine that it has become impractical to accomplish any of such improvements or portions thereof by reason of changed conditions or needs, incompatible development, costs substantially in excess of the amount of Bond proceeds or tax levies estimated to be applied thereto, or acquisition by a superior governmental author- ity, the City shall not be required to accomplish such improve- ment. If any or all of the improvements of a Project have either been completed, or their completion duly provided for, or their completion found to be impractical, the City may apply the Bond proceeds or any portion thereof to other capital purposes of the City as may be permitted by law or to redemption of the Bonds as the Council, by ordinance and in its discretion shall determine. In the event funds are insufficient to make all of the capital improvements of a specific project herein authorized, the City shall use the available funds for paying costs of those improvements for which tax levies and bonds were approved which are deemed most necessary and in the best interests of the City by the Council. -4- KR257 88/07/06