1992-003 Council Resolution - Laserfiche WebLink

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EXHIBIT A Declaration of Official Intent The undersigned, being the duly appointed and City Administrator of the City of Lino Lakes, Minnesota ( the "City"), pursuant to and for the purpose of compliance with Treasury Regulations Section 1.103-17 (the "Regulations") under the Internal Revenue Code of 1986, as amended, hereby states and certifies as follows: 1. The undersigned has been and is on the date hereof duly authorized by the governing body of the City, the City Council, to make and execute this Declaration of Official Intent ( the "Declaration") for and on behalf of the City. 2. Attached to and made a part of the Declaration is an Exhibit A itemizing one or more costs (the "Costs"), describing the project or projects of the City to which each of such Costs relates, and providing an accurate general functional description of the type and use of the property to which each of said Costs relates, including sufficient information on the nature and function of the underlying property. 3. None of the Costs has heretofore been paid by the City and none of the Costs will be paid by the City until after the date of this declaration. Each of the Costs relates to property having a useful life of at least one year. 4. The City intends to reimburse itself for the payment of the Costs out of the proceeds of tax exempt debt (the "Bonds") to be issued by the City after the date of payment of the Costs. In the meantime, the City reasonably expects to pay and temporarily finance the Costs from the following source or sources of funds: