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3. Reimburs ent Al ocations. The designated City officials <br />shall also be responsible for making the "reimbursement allocations" <br />described in the Regulations, being generally the transfer of the <br />appropriate amount of reimbursement bond proceeds to reimburse the <br />source of temporary financing used by the City to make payment of the <br />prior expenditure. Each allocation shall be evidenced by an entry on <br />the official books or records of the City maintained for such <br />reimbursement bonds; shall specifically identify the actual prior <br />expenditure being reimbursed or, in the case of the reimbursement of a <br />particular fund or account, the fund or account from which the <br />expenditure was paid; and shall be effective to relieve the bond <br />proceeds involved from any restriction under the bond resolution or <br />other relevant legal documents for those bonds and under any applicable <br />state statute applicable to unspent proceeds of such bond issue. <br />Adopted this 5th day of June, 1995, by the Hugo City Council. <br />