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(a) Each Declaration shall be made not later than 60 days after payment of the <br /> applicable project cost and shall state that the City reasonably expects to reimburse itself <br /> for the expenditure out of the proceeds of a bond issue or similar borrowing. Each <br /> Declaration may be made substantially in the form of the Exhibit A which is attached to <br /> and made a part of this Resolution, or in any other format which may at the time comply <br /> with the Regulations. <br /> (b) Each Declaration shall (1) contain a reasonably accurate description of the <br /> "project," as defined in the Regulations (which may include the property or program to be <br /> financed, as applicable), to which the expenditure relates and (2) state the maximum <br /> principal amount of bonding expected to be issued for that project. <br /> (c) Care shall be taken so that the City, or its authorized representatives under <br /> this Resolution, not make Declarations in cases where the City does not reasonably <br /> expect to issue reimbursement bonds to finance the subject project costs, and the City <br /> officials are hereby authorized to consult with bond counsel to the City concerning the <br /> requirements of the Regulations and their application in particular circumstances. <br /> (d) The Council shall be advised from time to time on the desirability and <br /> timing of the issuance of reimbursement bonds relating to project expenditures for which <br /> the City has made Declarations. <br /> 3. Reimbursement Allocations. The designated City officials shall also be <br /> responsible for making the "reimbursement allocations" described in the Regulations, being <br /> generally written allocations that evidence the City's use of the applicable bond proceeds to <br /> reimburse the original expenditures. <br /> 4. Effect. This Resolution shall amend and supplement all prior resolutions and/or <br /> procedures adopted by the City for compliance with the Regulations (or their predecessor <br /> versions), and, henceforth, in the event of any inconsistency, the provisions of this Resolution <br /> shall apply and govern. <br /> Adopted this 6th day of January, 2004, by the City Council. <br /> 2 <br />