$5.9 Million General Obligation Bond

ORDINANCE 10-2008 WHEREAS, the City, in contemplation of the issuance and sale its General Obligation Bonds in an aggregate principal amount not to exceed Five Million Nine Hundred Thousand Dollars ($5,900,000), to provide funds for and towards certain projects of the City, has determined that the Bonds (hereinafter defined) shall be offered for sale at a private sale by negotiation pursuant to the provisions of the Local Government Unit Debt Act of the Commonwealth, as re-enacted and amended (the "Act") and has determined that a private sale by negotiation is in the best financial interests of the City