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of acquisition, construction or rehabilitation of a project, other than land acquisition, site <br />preparation, and similar costs incident to commencement of construction. <br />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 />expenditures 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 <br />proceeds of bonds to be issued by the City are, or are reasonably expected to be, reserved, <br />allocated on a long-term basis, or otherwise set aside pursuant to the City's budget or financial <br />policies to pay such Project expenditures. <br />5. This Declaration is intended to constitute a declaration of official intent for <br />purposes of the Reimbursement Regulations. <br />Adopted by the City Council of the City of Lino Lakes this 24t" day of June, 2024. <br />4q_l� <br />Rob Ra4rty, Mayor <br />ATTEST: <br />Roberta Colotti, City Clerk <br />