Laserfiche WebLink
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 City Clerk shall attest to and certify the vote adopting this <br />Resolution. <br />ADOPTED this 19th day of December, 2023. <br />APPROVED AS TO FORM: <br />Sonia R. Carvalho, City Attorney <br />By: <br />l. ,fit Brandon Salvatierra <br />S Deputy City Attorney <br />Resolution No. 2023-094 <br />Page 2 of 3 <br />