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of certain S corporations. For a more complete discussion of tax <br />aspects, see the enclosed Preliminary Official Statement. <br /> <br /> 1. The 1984 Street Improvement Bond Anticipation Notes - I988 <br />Renewal are issued in anticipation of the issuance of a like principal <br />amount of general obligations bonds of the City under authority of the <br />general laws of the State of Ohio and by virtue of certain ordinances <br />and proceedings of the Council of the City with respect thereto for the <br />purpose of paying the property owners' portion, in anticipation of the <br />levy and collection of special assessments, and the City's portion of <br />the cost of improving Delaware Avenue and certain other streets between <br />certain termini designated in the ordinance hereinafter mentioned by the <br />necessary grading and replacement of the base, resurfacing with asphal- <br />tic concrete, including the necessary replacement and resetting of <br />castings together with the necessary appurtenances thereto, and to pay <br />and retire outstanding notes issued in anticipation thereof. <br /> <br /> 2. The 1985 Street Improvement Bond Anticipation Notes - 1988 <br />Renewal are issued in anticipation of the issuance of a like principal <br />amount of general obligation bonds of ~he City under authority of the <br />general laws of the State of Ohio and by virtue of certain ordinances <br />and proceedings of the Council of the City with respect thereto for the <br />purpose of paying the property owners' portion, in anticipation of the <br />levy and collection of special assessments, and the City's portion of <br />the cost of improving C. hesterland Avenue and certain other streets <br />between certain termini designated in the ordinance hereinafter men- <br />tioned, by the necessary.grading and replacement of the base, resurfac- <br />ing with asphaltic concrete, including necessary appurtenances thereto, <br />and to pay and retire outstanding notes issued in anticipation thereof. <br /> <br /> 3. The 1986 Street Improvement Bond Anticipation Notes - 1988 <br />Renewal are issued in anticipation of the issuance of a like principal <br />amount of general obligation bonds of the City under authority of the <br />general laws of the State of Ohio and by virtue of certain ordinances <br />and proceedings of the Council of the City with respect thereto for the <br />purpose of paying the property owners' portion, in anticipation of the <br />levy and collection of special assessments, and the City's portion of <br />the cost of improving Victoria Avenue, Atkins Avenue, Phelps Avenue and <br />Nicholson Avenue, by the necessary grading and replacement of the base, <br />resurfacing with asphaltic concrete, including the necessary replacement <br />and resetting of castings together with the necessary appurtenances <br />thereto, and to pay and retire outstandin§ notes issued in anticiPation <br />thereof. <br /> <br /> 4. The 1987 Street Improvement Bond Anticipation Notes - I988 <br />Renewal are issued in anticipation of the issuance of a like principal <br />of general obligation bonds of the City under authority of the general <br />laws of the State of Ohio and by virtue of certain ordinances and <br />proceedings of the Council of the City with respect thereto for the <br />purpose of paying the property owners' portion, in anticipation of the <br />levy and collection of special assessments, and the City's portion of <br />the cost of improving Arthur Avenue from Madison Avenue to Lakewood <br />Heights Boulevard and Coutant Avenue from Madison Avenue to Detroit <br /> <br />-3- <br /> <br /> <br />