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Section 2. J[0tent Declared. <br /> <br /> 2.0 ! The City reasonably expects to expend moneys after the date hereof from the <br />sources described in Exhibit A on a temporary basis to pay the expenditures described In Exhibit <br />A. The City reasonably expects to reimburse itself for such expenditures from the proceeds of <br />taxable or tax-exempt bonds, the debt service for which is expected to be paid from the sources <br />described in Exhibit A. <br /> <br /> 2.02 The City also expended certain moneys between September 8, 1989 and the date <br />hereof from the sources described In Exhibit A. At the time of those expenditures, the City <br />reasonably expected to reimburse the expenditures from the proceeds of taxable or tax exempt <br />bonds, the debt service for which is expected to be paid from the sources described in Exhibit A. <br />Objective evidence of the City's reasonable expectations regarding such reimbursement Is <br />summarized in Exhibit B. <br /> <br /> 2.0 3 The City Administrator is authorized to designate appropriate additions to Exhibit A <br />in circumstances where time is of the essence, and any such designation shall be reported to the <br />City Council at the earliest practicable date and shall be filed with the official book and records of <br />the City at the times and in the manner provided in Section 2.04. <br /> <br /> 2.0 4 This resolution shall be maintained as part of the books and records of the City at <br />City Hall, and shall be continuously available during normal business hours of the City on every <br />business day of the period beginning not more than 10 days after adoption of this resolution and <br />ending on the last date of issue of any bonds issued to reimburse expenditures described in Exhibit <br />A. <br /> <br /> 2.05. This Resolution is an expression of the reasonable expectations of the City based on <br />the facts and circumstances known to the City as of the date hereof. The anticipated <br />reimbursements set forth at Exhibit A are consistent with the City's budgetary and financial <br />circumstances. No sources other than those described at Exhibit A are expected to be allocated to <br />such expenditures on a long term basis pursuant to the City's budget. The City has not made any <br />allocation, budget, or restriction of moneys or adopted any requirement or policy to reimburse a <br />fund, the primary purpose of which is to prevent moneys from being deemed to be available to pay <br />an expenditure the City intends to reimburse with proceeds of a borrowing. <br /> <br /> 2.06 This Resolution is intended to constitute official intent for purposes of proposed <br />Tres. Reg. § 1.103-17 and any successor law, regulation or ruling. This resolution shall be <br />modified to the extent required or permitted by Tres. Reg. § 1.103-17 as finally adopted, or any <br />successor law, regulation or ruling. <br /> <br />The motion for the adoption of the foregoing resolution was duly seconded by Councilmember <br />Peterson and upon vote being taken thereon, the following voted in favor thereof: <br /> <br />Mayor Gilbertson <br />Councilmember Hardin <br />Councilmember Peterson <br />Councilmember Beyer <br />Councilmember Cich <br /> <br />and the following voted against the same: <br /> <br />None <br /> <br />2 <br /> <br /> <br />