1993 R 06 - Laserfiche WebLink

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1 2 3 4 5 6 7 8 9 10 11 12 13 14 151 16 171 18 19 20 21 22 23 24 25 26! 27 28 equipment costs to be reimbursed from proceeds of the Obligations. SECTION 4. The expected date of issue of the Obligations will be within one year of the later of the Expenditure Date or Dates and the date the listed equipment is placed in service. SECTION S. Proceeds of the Obligations to be used to reimburse for equipment costs are not expected to be used directly or indirectly to pay debt service with respect to any obligation (other than to pay current debt service coming due within the next succeeding one year period on any tax-exempt obligation of the Issuer (other than the Obligations)) or to be held as a reasonably required reserve or replacement fund with respect to an obligation of the Issuer or any entity related in any manner to the Issuer, or to reimburse any expenditure that was originally paid with the proceeds of any obligation, or to replace funds that are or will be used in such manner. SECTION 6. This resolution is consistent with the budgetary and financial circumstances of the Issuer, as of the date hereof. No monies from sources other than the Obligation issue are, or are reasonably expected to be reserved, allocated on a long- term basis, or otherwise set aside by the Issuer (or any related parry) pursuant to their budget or financial policies with respect to the equipment costs. To the best of our knowledge, the City of Colton is not aware of the previous adoption of official intents by the Issuer that have been made as a matter of course for the purpose of reimbursing expenditures and for which tax-exempt obligations have not been issued. SECTION 7. This resolution is adopted as official action of the Issuer, in order to comply with Treasury Regulation. 1.103-18 and any other regulations of the Internal Revenue Service relating to the qualification for reimbursement of Issuer expenditures