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3. Springsted Incorporated is authorized and directed to negotiate the <br />Bonds in accordance with the foregoing Terms of Proposal. The City Council will <br />meet at 7:00 p.m. on Tuesday, March 21, 1995, to consider proposals on the <br />Bonds and take any other appropriate action with respect to the Bonds. <br /> <br /> 4. The City reasonably intends to make expenditures for the project <br />described in Section 1 hereof and reasonably intends to reimburse itself for such <br />expenditures from the proceeds of the Bonds to be issued in the maximum <br />principal amount of $2,600,000. <br /> <br /> 5. This resolution is intended to constitute a declaration of official <br />intent for purposes of Treas. Reg. § 1.150-2 and any successor law, regulation, <br />or ruling. <br /> <br /> The motion for the adoption of the foregoing resolution was duly seconded <br /> <br />by Councilmember Beahen , and upon vote being taken thereon the <br /> <br />following members voted in favor of the motion: <br /> Mayor Hardin <br /> Counc±lmember Beahen <br /> Councilmember Zimmerman <br />and the following voted against: <br /> <br /> None. <br /> <br />whereupon the resolution was declared duly passed and adopted. <br /> <br />Councilmember Peterson <br />Councilmember Beyer <br /> <br />SJB84409 <br />RA125~36 <br /> <br /> <br />