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issue price of the issue or issues that finance or are reasonably expected by the City to <br />finance the project for which the preliminary expenditures were incurred. The term <br />"preliminary expenditures" includes architectural, engineering, surveying, bond issuance, <br />and similar costs that are incurred prior to commencement of acquisition, construction or <br />rehabilitation of a project, other than land acquisition, site preparation, and similar costs <br />incident to commencement of construction. <br />4. This Declaration is an expression of the reasonable expectations of the City <br />based on the facts and circumstances known to the City as of the date hereof. The <br />anticipated original expenditures for the Project and the principal amount of the bonds <br />described in paragraph 2 are consistent with the City's budgetary and financial <br />circumstances. No sources other than proceeds of bonds to be issued by the City are, or <br />are reasonably expected to be, reserved, allocated on a long-term basis, or otherwise set <br />aside pursuant to the City's budget or financial 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 28th day of April, 2025. <br />Rob Rafferty, Mayor <br />ATTEST: <br />Roberta Colotti, CIVIC, City Clerk <br />