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Hundred Thousand Dollars ($4 , 700 , 000) , plus accrued interest as <br /> stated below, in anticipation of current tax revenues actually levied <br /> and in the course of collection for such Fund for the year 1989, <br /> which loan shall be evidenced by tax anticipation time warrants of <br /> the City bearing interest at a rate or rates per annum not to exceed <br /> a maximum rate of eight percent (8%) , the exact rate or rates of <br /> interest to be determined by private sale as permitted by law. Such <br /> warrants shall be dated as of the date or dates of delivery of such <br /> warrants and the interest accruing on the warrants to the date of <br /> maturity shall be added to and included in the face value of the <br /> warrants. The warrants shall mature and be payable on December 29, <br /> 1989. Warrants will bear interest at a rate or rates not to exceed <br /> eight percent (8%) per annum on any amounts not paid at maturity. <br /> Such warrants, including interest and all necessary costs incurred in <br /> connection with the issuance and sale of such warrants, shall be <br /> payable from the General Fund and there is hereby appropriated and <br /> pledged to the payment of such warrants, including interest and all <br /> necessary costs incurred in connection with the issuance and sale of <br /> such warrants, a sufficient amount of the current revenues to be <br /> received in the General Fund from the distribution of taxes to the <br /> General Fund on or before December 29, 1989, for the punctual payment <br /> of the principal of and interest on such warrants evidencing such <br /> temporary loan, together with such issuance costs, with the amount of <br /> interest on such warrants computed from the date or dates of such <br /> warrants to the date of maturity, at the interest rate or rates <br /> agreed to by the authorized purchaser or purchasers of such warrants. <br /> - 3 - <br />