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EXHIBIT A <br /> Declaration of Official Intent <br /> The undersigned, being the duly appointed and acting City Clerk of the City of Pequot <br /> Lakes, Minnesota (the "City"), pursuant to and for purposes of compliance with Treasury <br /> Regulations, Section 1.150-2 (the "Regulations"), under the Internal Revenue Code of 1986, as <br /> amended, hereby states and certifies on behalf of the City as follows: <br /> 1. The undersigned has been and is on the date hereof duly authorized by the City <br /> Council to make and execute this Declaration of Official Intent (the "Declaration") for and on <br /> behalf of the City. <br /> 2. This Declaration relates to the following project, property or program (the <br /> "Project") and the costs thereof to be financed: <br /> Purchase of Liberty Tool Building <br /> 3. The City reasonably expects to reimburse itself for the payment of certain costs of <br /> the Project out of the proceeds of a bond issue or similar borrowing (the "Bonds") to be issued by <br /> the City after the date of payment of such costs. As of the date hereof, the City reasonably <br /> expects that $100,000 is the maximum principal amount of the Bonds which will be issued to <br /> finance the Project. <br /> 4. Each expenditure to be reimbursed from the Bonds is or will be a capital <br /> expenditure or a cost of issuance, or any of the other types of expenditures described in Section <br /> 1.150-2(d)(3) of the Regulations. <br /> 5. As of the date hereof, the statements and expectations contained in this <br /> Declaration are believed to be reasonable and accurate. <br /> Date: erg -0 Li <br /> City Clerk <br /> City of Pequot Lakes, Minnesota <br /> A-1 <br />