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commencement of acquisition, construction or rehabilitation of a project, other than land <br />• acquisition, site preparation, and similar costs incident to commencement of construction. <br />• <br />• <br />4. This Declaration is an expression of the reasonable expectations of the <br />City 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, <br />or are reasonably expected to be, reserved, allocated on a Tong -term basis, or <br />otherwise set aside pursuant to the City's budget or financial policies to pay such <br />Project expenditures. <br />5. This Declaration is intended to constitute a declaration of official intent for <br />purposes of the Reimbursement Regulations. <br />ne Bartell, Ci y Cle <br />CITY • - NO LAKES, MINNESOTA <br />A&A/4.1 <br />John Beri- so "Mayor <br />Adopted by the Lino Lakes City Council this 12th day of February, 2007. <br />The motion for the adoption of the foregoing resolution was duly seconded by Council <br />Member RP;,,Pi -,- and upon vote being taken thereon, the following voted in favor <br />thereof: <br />Stoltz, Reinert, O'Donnell, Carlson, Bergeson <br />The following voted against same: <br />none <br />Whereupon said resolution was declared duly passed and adopted. <br />