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jmf 9/28/19 <br />Section 4. Each Agency expenditure will be of a type properly chargeable to <br />a capital account under general federal income tax principles. <br />Section 5. To the best of our knowledge, this Agency is not aware of the <br />previous adoption of official intents by the Agency that have been made as a matter <br />of course for the purpose of reimbursing expenditures and for which tax-exempt <br />obligations have not been issued. <br />Section 6. This Resolution is adopted as official intent of the Agency in order <br />to 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 this <br />Agency 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 12019. <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 />Miguel A. Pulido <br />Mayor <br />Resdution No. 2019-XXX <br />Page 2 of 3 <br />55E-6 <br />