$1.$ Bridgeport issues $$18,000,000$ face value of general obligation bonds to build a new outdoor music arena $-$Harbor Arena. The City received an extra $$1,500,000$ as a bond premium $.2.$ The bond covenant states that bond premiums must be transferred to a Debt Service Fund $.$ The transfer of cash to the Debt Service Fund is made. $3.$ Bridgeport issues a $$15,000,000$ face value of general obligation bond to construct a new road. Unfortunately $,$ interest rates increased prior to the issuance of the bonds, and this resulted in the city receiving only $$14,600,000$ from the bonds $.$