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Project Costs, including all reasonable and necessary <br />architectural, engineering, legal, financing, accounting, <br />advertising, bond discount and supervisory expenses, capitalized <br />interest and a debt service reserve for the bonds to the extent <br />that the Commission determines that a reserve is reasonably <br />required; together with the expenses in connection with or on <br />account of the issuance of bonds therefor, all in and with respect <br />to the Allocation Area, the City acting for and on behalf of the <br />Commission, shall make a loan in an amount not to exceed Three <br />Million Dollars ($3,000,000.00). <br />2. In order to procure funds for said loan, the <br />Controller of the City is hereby authorized and directed to have <br />prepared and to issue and sell the negotiable bonds of the <br />{ Redevelopment District, in one or more series or issues, the <br />principal of and interest on which are payable from taxes on real <br />property located in the Allocation Area allocated and deposited in <br />the Allocation Fund pursuant to the provisions of IC 36- 7 -14 -39 and <br />proceeds from the sale or leasing of property in the Allocation <br />Area under IC 36- 7 -14 -22 deposited in the Allocation Fund as <br />required by IC 36- 7 -14 -26 (collectively the "Tax Increment ") , which <br />bonds shall be issued in the name of the City, for and on behalf <br />of the Redevelopment District, in an aggregate principal amount not <br />to exceed Three Million Dollars ($3,000,000.00) (the "Bonds ") , with <br />a discount not to exceed the discount as set forth in or determined <br />by the Final Bond Resolution to be adopted by the Commission, and <br />which amount (together with investment earnings thereon in the <br />4 <br />