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'.', :\.. i'l " Section 2. Declaration of Intent. The City declares, as of the date of this resolution: e 2.1) The Facility will be a 22,000 square foot city hall and law enforcement building. 2.2) The City expects to advance revenues from its general fund or other reserves for certain expenditures to be made in connection with the Facility. 2.3) The City intends to reimburse itself, from the proceeds of debt the interest on which is excludable from gross income under section 103 of the Internal Revenue Code of 1986, for expenditures made by the City before issuance of the Bonds in connection with the construction of the Facility. 2.4) Revenues received by the Authority from the City pursuant to the Lease are the expected source of funds for payment of debt service on the Bonds. Section 3. Miscellaneous. e 3.1) Availability of This Resolution. This resolution will be reasonably available for inspection by the general public. It will be available for inspection at the Elk River City Hall continuously during the City's normal business hours on every business day of the period beginning the earlier of ten (10) days after the date of enactment of this resolution or the date of issue of the Bonds, and ending on, and including, the date of issue of the Bonds. Section 4. Execution Date of Resolution. This Resolution shall be in full force and effect from and after its passage. Adopted by the City Council on ~ 4- ~a: ~,) /1 / ,1 . / / /" [SEAL] //;L-1iftJ/-;:? tft~d- " / Mayor ATTEST: s4~ a ~"~1 City Clerk e LAS:B09a 2.