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Buy Time <br />• Cash flow the project with cash on hand <br />• Adopt a reimbursement resolution <br />declaring our intent to reimburse <br />expenditures from bond proceeds (this is <br />not a resolution authorizing bonds) <br />• If bonds are issued, they must be issued <br />not more than three years after the first <br />expenditure is incurred (not including <br />preliminary or engineering fees) <br />