Resolution 2517

Providing for the issuance and sale of general obligation refunding bonds of the port district in the aggregate principal amount of $15,775,000 for the purpose of providing part of the funds required to refund the port district's outstanding general obligation bonds issued under date of January 1, 1970 in the original principal amount of $16,000,000; authorizing the use of certain moneys of the port district to effect such refunding; creating a special 1974 Refunding Account in the General Obligation Bond Fund of the port district; providing for the redemption of the outstanding bonds to be refunded; and providing the date, form, terms, maturities and covenants of the refunding bonds to be issued and for unlimited tax levies to pay the principal thereof and interest thereon.