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4. <br /> <br />(a) <br /> <br />(b) <br /> <br />(c) <br /> <br />Each Declaration shall be made not later than 60 days after payment of <br />the applicable project cost and shall state that the City reasonably <br />expects to reimburse itself for the expenditure Out of the proceeds of a <br />bond issue or similar borrowing. Each Declaration may be made <br />substantially in the form of Exhibit A which is attached to and made a <br />part of this Resolution, or in any other format which may at the time <br />comply with the Regulations. <br /> <br />Each Declaration shall (1) contain a reasonably accurate Description <br />of the "project," as defined in the Regulations (which may include the <br />property or program to be financed, as applicable), to which the <br />expenditure relates and (2) state the maximum principal of bonding <br />expected to be issued for that project. <br /> <br />Care shall be taken so that the City, or its authorized representatives <br />under this Resolution, not make Declarations in cases where the City <br />doesn't reasonably expect to issue reimbursement bonds to finance the <br />subject project costs, and the City officials are hereby authorized to <br />consult with bond counsel to the City concerning the requirements of <br />the Regulations and their application in particular circumstances. <br /> <br />Reimbursement Allocations. The designated officials shall also be <br />responsible for making the "reimbursement allocations" described in <br />the Regulations, being generally written allocations that evidence the <br />City's Use of the applicable bond proceeds to reimburse the original <br />Expenditures. <br /> <br />Effect. This Resolution shall amend and supplement all prior <br />resolutions and/or procedure adopted by the City for compliance with <br />the Regulations (or their predecessor versions), and, henceforth, in the <br />even of any inconsistency, the provisions of this Resolution shall apply <br />and govern. <br /> <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA <br /> <br />'thc motion for the adoption of the foregoing resolution was duly seconded by Councilmember, <br />a mi upon vote being taken thereon, the following voted in favor thereof: <br /> <br />and tile lbllowing voted against the same: <br />and the ibllowing abstained: <br />and tile Ibllowing were absent: <br /> <br />Resolution #5-11-XXX <br /> Page 2 of 4 <br /> <br /> <br />