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<br />e <br /> <br />(a) Each Declaration shall be made not later than 60 <br />days after paYment of the applicable project cost and shall <br />state that the City reasonably expects to reimburse itself for <br />the expenditure out of the proceeds of a bond issue or similar <br />borrowing. Each Declaration may be made substantially in the <br />form of the Exhibit A which is attached to and made a part of <br />this Resolution, or in any other format which may at the time <br />comply with the Regulations. <br /> <br />(b) Each Declaration shall (1) contain a reasonably <br />accurate description of the "project," as defined in the <br />Regulations (which may include the property or prog~am to be <br />financed, as applicable), to which the expenditure relates and <br />(2) state the maximum principal amount of bonding expected to <br />be issued for that project. <br /> <br />(c) Care shall be taken so that the City, or its <br />authorized representatives under this Resolution, not make <br />Declarations in cases where the City doesn't reasonably expect <br />to issue reimbursement bonds to finance the subject project <br />costs, and the City officials are hereby authorized to consult <br />with bond counsel to the City concerning the requirements of <br />the Regulations and their application in particular <br />circumstances. <br /> <br />e <br /> <br />(d) The Council shall be advised from time to time on <br />the desirability and timing of the issuance of reimbursement <br />bonds relating to project expenditures for which the city has <br />made Declarations. <br /> <br />3. Reimbursement Allocations. The designated City officials <br />shall also be responsible for making the "reimbursement alloca- <br />tions" described in the Regulations, being generally written <br />allocations that evidence the City's use of the applicable bond <br />proceeds to reimburse the original expenditures. <br /> <br />4. Effect. This Resolution shall amend and supplement all <br />prior resolutions and/or procedures adopted by the City for <br />compliance with the Regulations (or their predecessor versions), <br />and, henceforth, in the event of any inconsistency, the provisions <br />of this Resolution shall apply and govern. <br /> <br />Adopted this 3rd day of January <br />River city Council. <br /> <br />, 199~, by the Elk <br /> <br />e <br />