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8.: This resolution is an expression ofthe.reasonable e.xpectationsofthe City based on the facts and circumstances <br />known to the City. as. of the date hereof. The aoticipWO. otiginal expenditures. for the Wj.ecfs set :forth at Exhibit <br />A and the. principal amount.of:the. Bonds set forth in *EXHIBI-T A are consistent with the Eity's budgetary and. <br />financial circumstaftces. No source other than Bonds to be issued bythe City are. or are reasonably expected to be,. <br />reserved, allocated on a long-term basis, or otherwise set aside: pbisuanrto the Cit:y's budget or financial policies <br />to pay such Project expenditures. <br />9. -fltis. resoludoh is intended to constitute a declaration of official .intent for purposes of the R6nibursemezit <br />Re�,ulatibn. <br />10: No reimbursetndnt allocation of the proceeds of the. Bonds to Project expenditures will employ an abusive <br />arbitrage device (within the meaning of Treasury Regulations, Section I:.I48-I0rtio-a.void the arbitrage. restrictions <br />or to avoid the restrictions of Sections 142-7 of die Code. <br />'Theforegoing. Resolution was offered by Councilor Watson and was supported by Councilor Rasmussen and <br />was declared adowed based upon the fotlowinf_vote: <br />NAME <br />E1Vl.EOTT <br />WATSOIV. <br />lfil►+fpS5Glv`. <br />' `SGIIiLiING <br />B.OSAK. <br />VOTE: <br />Aye <br />Aye <br />Aye <br />Absent <br />Absent <br />ATTEST <br />1, Frederic C. Maanttson; .the duly qualified City Clerk of the City of Gem bake; County of Ramsey; Siate cif <br />M innesola, do hereby certify that the. foregoing..Rgdhition is a true and accurate representdtion ofaction taken by the <br />City Council .of.thc*Gity,of Gern.Lake on the date first written... <br />i <br />ErcdeO- C. Magnuson, CityCterk <br />Date <br />merti'�ieb clio�. <br />z9 qdzoos <br />c-file: n;.coladon\2000w.2006-06 <br />