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have paid prior to the Closing Date (a "Reimbursement <br />Expenditure"). <br />The City hereby certifies and/or covenants as follows: <br />(a) Not later than 60 days after the date of payment of a <br />Reimbursement Expenditure, the City (or person <br />designated to do so on behalf of the City) has made or <br />will have made a written declaration of the City's <br />official intent (a "Declaration") which effectively (i) <br />states the City's reasonable expectation to reimburse <br />itself for the payment of the Reimbursement Expenditure <br />out of the proceeds of a subsequent borrowing; (ii) <br />gives a general and functional description of the <br />property, project or program to which the Declaration <br />relates and for which the Reimbursement Expenditure is <br />paid, or identifies a specific fund or account of the <br />City and the general functional purpose thereof from <br />which the Reimbursement Expenditure was to be paid <br />(collectively the "Project"); and (iii) states the <br />maximum principal amount of debt expected to be issued <br />by the City for the purpose of financing the Project; <br />provided, however, that no such Declaration shall <br />necessarily have been made with respect to: (i) <br />"preliminary expenditures" for the Project, defined in <br />the Reimbursement Regulations to include engineering or <br />architectural, surveying and soil testing expenses and <br />similar prefatory costs, which in the aggregate do not <br />exceed 20k of the "issue price" of the Bonds, and (ii) <br />a de minimis amount of Reimbursement Expenditures not <br />in excess of the lesser of $100,000 or St of the <br />proceeds of the Bonds. Notwithstanding the foregoing, <br />with respect to any Declaration made by the City <br />between January 27, 1992 and June 30, 1993, with <br />respect to a Reimbursement Expenditure made prior to <br />March 2, 1992, the City hereby represents that there <br />exists objective evidence, that at the time the <br />Expenditure was paid the City expected to reimburse the <br />cost thereof with the proceeds of a borrowing (taxable <br />or tax-exempt) and that expectation was reasonable. <br />(b) Each Reimbursement Expenditure is a capital expenditure <br />or a cost of issuance of the Bonds or any of the other <br />types of expenditures described in Section 1.150- <br />2(d)(3) of the Reimbursement Regulations. <br />(c) The "reimbursement allocation" described in the <br />Reimbursement Regulations for each Reimbursement <br />Expenditure shall and will be made forthwith following <br />(but not prior to) the issuance of the Bonds and in all <br />events within the period ending on the date which is <br />931992.1 22 <br />