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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 the <br />purpose of reimbursing expenditures and for which tax-exempt obligations have not been <br />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 Internal <br />Revenue Service relating to the qualification for reimbursement of Project costs. <br />Section 7. All the recitals in this Resolution are true and correct, and the City so <br />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 adopting <br />this Resolution. <br />ADOPTED this 7th day of May, 2019. <br />APPROVED AS TO FORM: <br />Sonia R. Carvalho, City Attorney <br />By: <br />J n M. Funk <br />Assistant City Attorney <br />AYES: Councilmembers <br />NOES: Councilmembers <br />ABSTAIN: Councilmembers <br />NOT PRESENT: Councilmembers <br />* Ward 4 representative vacant. <br />Resolution No. 2019-027 <br />Page 2 of 3 <br />Iglesias, Penaloza Pulido, Sarmiento, Solorio, <br />Villegas(6) <br />None (0) <br />None (0) <br />None (0) <br />