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5. Each expenditure to be reimbursed from the Bonds is or will be a <br />• capital expenditure or a cost of issuance, or any of the other types of <br />expenditures described in Section 1.150-2(d)(3) of the Regulations. <br />Passed and adopted by the City Council of the City of Elk River this 30th day <br />of October, 1995. <br />Henry A. Duitsman, Mayor <br />ATTEST: <br />Sandra A. Thackeray, City Clerk <br />• <br />• <br />