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4. This Declaration is an expression of the reasonable expectations of the City based <br />on the facts and circumstances known to the City as of the date hereof. The anticipated original <br />expendit ures for the Project and the principal amount of the bonds described in paragraph 2 are <br />consistent with the City’s budgetary and financial circumstances. No sources other than proceeds <br />of bonds to be issued by the City are, or are reasonably expected to b e, reserved, allocated on a <br />long -term basis, or otherwise set aside pursuant to the City’s budget or financial policies to pay <br />such Project expenditures. <br /> <br /> 5. This Declaration is intended to constitute a declaration of official intent for <br />purposes of the R eimbursement Regulations. <br /> <br /> <br />Adopted by the Council of the City of Lino Lakes this ____ day of _____, 20__. <br /> <br /> <br />The motion for the adoption of the foregoing resolution was introduced by Council Member <br /> and was duly seconded by Council Member and <br />upon v ote being taken thereon, the following voted in favor thereof: <br /> <br />The following voted against same: <br /> <br /> <br /> <br /> <br />_____________________ <br />Jeff Reinert, Mayor <br /> <br />ATTEST: <br /> <br />________________________ <br />Julianne Bartell, City Clerk <br /> <br /> <br /> <br /> <br />