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HoL,MES & GRAVEN <br />CHARTERED <br />470 Pilisbur'y Center, Minnupoifis, Min is 55402 <br />Telephone (1612) 337-9300 <br />Facsimile (612)1337-91310 <br />Feb'ruiary 19 s, 1, 99 2 <br />Fn most general terms the reimbursement rules provide thatO <br />a declaration of "official Intent" by the City must be made on or before <br />the date, of an expenditure that the City expects to reimburse from bond <br />proceeds, <br />the reimbursement from bond proceleds must be made wn a) one year <br />after the expenditure, or b) one year after the project financed was <br />Itplaiced M* service whichever date is later and <br />the expenditures to be reimbursed must be Ificapital expenditures" <br />under general federal, tax law (bond issuance.costs are deemed "capital <br />expenditures"111) 6, <br />Enclosed is a sample resolution, that, we ti vdII put the City in compliance with the <br />final, rules If it is, aidopited prior to the expenditure to be reimbursed. The <br />resolutione,w <br />0 <br />states, a general intent to reimburse s, <br />