Laserfiche WebLink
<br />(b) the City hereby designates the Note as a qualified tax-exempt obligation <br />for purposes of Section 265(b )(3) of the Code; <br /> <br />(c) the reasonably anticipated amount of tax-exempt obligations (other than <br />obligations described in clause (ii) of Section 265(b)(3)(C) of the Code) which will be <br />issued by the City (and all entities whose obligations will be aggregated with those of the <br />City) during the calendar year 2005 will not exceed $10,000,000; and <br /> <br />(d) not more than $10,000,000 of obligations issued by the City during the <br />calendar year 2005 have been designated for purposes of Section 265(b )(3) ofthe Code. <br /> <br />3.5 Effective Date. This resolution shall take effect immediately upon adoption. <br /> <br />Adopted by the City Council of City of Elk River, Minnesota, this 21 st day of March, <br /> <br />2005. <br /> <br />Mayor <br /> <br />Attest: <br /> <br />City Clerk <br /> <br />1743229v4 <br /> <br />6 <br />