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