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Refunding Bonds And Parking System Plan For Elyria
City of Elyria seeks to refund its outstanding revenue bonds for Off Street Parking Facilities to achieve lower interest costs. It authorizes issuance of up to 760000 in Refunding Bonds dated March 15 1955 with semiannual interest and redemption in 1965 1992. The ordinance provides bond sale to trust and details use of proceeds to retire the existing issue and fund Parking Revenue, Debt Service, and related reserves. It also covers junior liens and Additional Bonds on parity with refunds while preserving revenues and covenants.
MENTIONED IN THIS ARTICLE
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