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such Refunded Bonds may be redeemed at said Bank on the redemption date. A copy of such Notice <br />of Redemption shall be delivered to the Paying AgentlRegistrar so mentioned, and published in the <br />Texas Bond Reporter. <br />Section 25. REASONS FOR REFUNDING. The Issuer deems it advisable to issue the <br />refunding bonds in Ordinance to achieve a gross savings of approximately $368,694.70 and a present <br />value savings of approximately $326,722.68. <br />Section 26. INSURANCE. The Issuer approves the insurance of the Bonds by Financial <br />Security Assurance, Inc., and the payment of such premium and complies with all of the terms of <br />the insurance commitment. <br />Section 27. PUBLIC NOTICE. It is hereby officially found and determined that public <br />notice of the time, place and purpose of said meeting was given, all as required by Chapter 551, <br />Texas Government Code. <br />Section 28. This Ordinance shall become effective on August 13, 1998. <br />33 <br />