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<br />,. <br />" <br /> <br />EXIßBIT B <br />TO OFFICIAL INTENT RESOLUTION <br />ADOPTED , 1991 <br /> <br />OBJECTIVE EVIDENCE THAT CITY REASONABLY EXPECTED TO REIMBURSE <br />CERTAIN PAST EXPENDITURES WITH TAXABLE OR TAX EXEMPT BOND PROCEEDS <br /> <br />The City paid approximately $ 967,950 from September 8. , .J..2B9... <br />through September 7, , ~ for engineering studies and reports related <br />to Improvement ProjectsNo. ---- as described in Exhibit A (the "Expenditures"). <br />The City reasonably expected to reimburse iteself for the Expenditures from the <br />proceeds of taxable or tax exempt debt, as supported by the following evidence: <br /> <br />1. It has been the City's consistent practice to reimburse engineering and <br />various administrative costs for public improvement projects out of bond proceeds. <br />This practice has been followed in every public improvement bond issue in the past <br />30 years, which includes the following issues: <br /> <br />Public Improvement General Obligation Bond Issues Ser1es 1 2 3 4 5 6 <br />. ...". <br /> <br />7, 8, 9, 10, 11, 12, 14, 15, 16, 17 <br /> <br />2. During the period of Septp.mber 8. , 1989 through Sepremher 7 , <br />1991 the City's expectation to reimburse the Expenditures from bond proceeds J was <br />consistent with the City's budgetary and financial circumstances. The City did not at <br />that time have funds allocated on a long-term basis, reserved or otherwise available <br />under the City's budget to pay for the Expenditures, as evidenced by the City's Annual <br />budget and financial records on file in City Hall. <br /> <br />5 <br />