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40 <br />• <br />"Series 1987 Bonds" shall mean the Capital Improvement Revenue Bonds, <br />Series 1987, herein authorized to be issued as the second installment of the <br />Bonds authorized under the Master Bond Resolution. <br />SECTION 3. Findings. It is hereby ascertained, determined and <br />declared that: <br />A. Pursuant to the Act, the Issuer is authorized to pledge the <br />Pledged Funds to the payment of principal of, interest and premium, if any, on <br />the Bonds; <br />B. It is necessary and desirable to undertake the 1987 Project in <br />order to preserve and protect the public health, safety and welfare of the <br />inhabitants of the Issuer; <br />C. The Issuer deems it necessary and in its beat interests to <br />undertake the 1987 Project by the issuance of the Series 1987 Bonds herein <br />authorized; <br />D. Certain of the estimated funds needed to pay the costs of the 1987 <br />Project shall be provided from the proceeds derived from the sale of the Series <br />1987 Bonds; <br />E. The costs of the 1987 Project shall be deemed to include, but not <br />be limited to, bond discount, if any, legal expenses, municipal bond insurance, <br />if any, fiscal expenses, expenses for estimates of costs and of revenues, <br />administrative expenses, interest ancrued on the Series 1987 Bonds for a <br />reasonable period after the date of issuance thereof, and reasonable amounts for <br />reserves and the costs of the acquisition of any lands, or interest therein, and <br />of any fixtures, or equipment, or properties deemed necessary or convenient <br />therefor, architectural/engineering and legal expenses, expenses for financial. <br />services or fiscal advisors, expenses for plana, specifications and surveys, <br />administrative expenses relating to the additions, extensions and improvements <br />— 3 — <br />