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• . <br />R. Herrera -2- <br />3/20/91 <br />The City would then be left with the Refunding Bonds to be <br />paid from taxes and water and sewer revenues, respectively, which <br />should sell in today's market at the 6.5$ to 7~ range. Substantial <br />savings in annual principal and interest payments would therefore <br />result. <br />We would like to discuss this further with you and the Council <br />at your meeting on March 25 and we look forward to seeing you then. <br />If in the meantime you have any questions or we can furnish <br />anything further regarding this proposal, please let us know. <br />Sincerely, <br />~ ~ <br />~~ <br />R. David e <br />President <br />RDF:cm <br />cc: Director of Finance <br />