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jmf 3/8/19 <br />Section 4. Each City expenditure will be of a type properly chargeable to a <br />capital account under general federal income tax principles. <br />Section 5. To the best of its knowledge, the City is not aware of the previous <br />adoption of official intents by the City that have been made as a matter of course for <br />the purpose of reimbursing expenditures and for which tax-exempt obligations have <br />not been issued. <br />Section 6. This Resolution is adopted as official intent of the City in order to <br />comply with Treasury Regulation Section 1.150-2 and any other regulations of the <br />Internal Revenue Service relating to the qualification for reimbursement of Project <br />costs. <br />Section 7. All the recitals in this Resolution are true and correct, and the City <br />so finds, determines, and represents. <br />Section 8. This Resolution shall take effect immediately upon its adoption by <br />the City Council, and the Clerk of the Council shall attest to and certify the vote <br />adopting this Resolution. <br />ADOPTED this _ day of 2019. <br />APPROVED AS TO FORM: <br />Sonia R. Carvalho, City Attorney <br />By: <br />John M. Funk <br />Assistant City Attorney <br />AYES: Councilmembers <br />NOES: Councilmembers <br />ABSTAIN: Councilmembers <br />NOT PRESENT: Councilmembers <br />Miguel A. Pulido <br />Mayor <br />55C-8 <br />Resolution No. 2019 -XXX <br />Page 2 of 3 <br />