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• <br />appropriate City employees. Each Declaration shall comply with <br />the requirements of the Regulations, including without limitation <br />the following: <br />(a) Each Declaration shall be made not later than 60 <br />days after payment of the applicable project cost and shall <br />state that the City reasonably expects to reimburse itself <br />for the expenditure out of the proceeds of a bond issue or <br />similar borrowing. Each Declaration may be made <br />substantially in the form of the Exhibit A which is attached <br />to and made a part of this Resolution, or in any other <br />format which may at the time comply with the Regulations. <br />(b) Each Declaration shall (1) contain a reasonably <br />accurate description of the "project," as defined in the <br />Regulations (which may include the property or program to be <br />financed, as applicable), to which the expenditure relates <br />and (2) state the maximum principal amount of bonding <br />expected to be issued for that project. <br />(c) Care shall be taken so that the City, or its <br />authorized representatives under this Resolution, not make <br />Declarations in cases where the City doesn't reasonably <br />expect that reimbursement bonds will be issued to finance <br />the subject project costs, and the City officials are hereby <br />authorized to consult with bond counsel to the City ' <br />concerning the requirements of the Regulations and their <br />application in particular circumstances. <br />(d) The Council shall be advised from time to time on <br />the desirability and timing of the issuance of reimbursement <br />bonds relating to project expenditures for which the City <br />has made Declarations. <br />3. Reimbursement Allocations. If the City is acting as <br />the issuer of the reimbursement bonds, the designated City <br />officials shall also be responsible for making the "reimbursement <br />allocations" described in the Regulations, being generally <br />written allocations that evidence the City's use of the <br />applicable bond proceeds to reimburse the original expenditures. <br />4. Effect. This Resolution shall amend and supplement all <br />prior resolutions and /or procedures adopted by the City for <br />compliance with the Regulations (or their predecessor versions), <br />and, henceforth, in the event of any inconsistency, the <br />provisions of this Resolution shall apply and govern. <br />Adopted this 14th day of March, 2000, by the Ramsey City <br />Council. <br />1144832.1 2 <br />