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<br />CITY OF ROSEVILLE, MINNESOTA <br />RESOLUTION NO.9 3 3 2 <br /> <br />DECLARING THE OFFICIAL INTENT OF THE <br />CITY OF ROSEVILLE TO REIMBURSE CERTAIN <br />EXPENDITURES FROM THE PROCEEDS OF BONDS <br />TO BE ISSUED BY THE CITY <br /> <br />WHEREAS, the Internal Revenue Service has issued Treas. Reg. I 1.150-2 <br />providing that proceeds of tax-exempt bonds used to reimburse prior expenditures <br />will not be deemed spent unless certain requirements are met; and <br /> <br />WHEREAS, the City expects to incur certain expenditures which may be <br />financed temporarily from sources other than bonds, and reimbursed from the <br />proceeds of a bond; <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br />OF ROSEVILLE (THE "CITY") AS FOLLOWS: <br /> <br />1. The City reasonably intends to make expenditures for the projects <br />described in Exhibit A (the "Projects"), and reasonably intends to reimburse itself <br />for such expenditures from the proceeds of debt to be issued by the City in the <br />applicable maximum principal amount described in Exhibit A. <br /> <br />2. The City Finance Director is authorized to designate appropriate <br />additions to Exhibit A in circumstances where time is of the essence. Any such <br />designation must be reported to the Council at the earliest practicable date and filed <br />with the official books and records of the City as contemplated in Section 3. <br /> <br />3. This resolution and its Appendix A is intended to constitute a <br />declaration of official intent for purposes of Treas. Reg. . 1.150-2 and any <br />successor law, regulation, or ruling. <br /> <br />Approved by the City Council of the City of Roseville this 23rd day of <br />September , 1996. <br /> <br />Attest: <br /> <br /> <br />TY;JSEV,ILi;;¿ESOTA <br /> <br /> <br />\/ <br /> <br />~ <br /> <br />ÐJXl02824 <br />118200-16 <br />