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Section 4. Each City expenditure will be of a type properly chargeable to a capital account <br /> under general federal income tax principles. <br /> Section 5. The City is not aware of the previous adoption of official intents by the City that <br /> have been made as a matter of course for the purpose of reimbursing expenditures and for which <br /> tax- exempt obligations have not been issued. <br /> Section 6. This resolution is adopted as an official intent of the City in order to comply with <br /> Treasury Regulation §1.150-2 and any other regulations of the Internal Revenue Service relating <br /> 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 finds, <br /> determines and represents. <br /> Introduced by Councilmember Prola and passed and adopted this 1st day of November, <br /> 2010, by the following called vote: <br /> Members of the Council: <br /> AYES: Councilmembers Gregory, Prola, Reed, Souza, Starosciak, Stephens; <br /> Mayor Santos (7) <br /> NOES: None (0) <br /> ABSENT: None (0) <br /> �� ���,,��"II f/�� <br /> ATTEST: `_11ikutim, �►dCl/PLOCQ� <br /> Marian Handa, City Clerk <br /> 1537279.1 <br /> RESOLUTION NO. 2010 -137 2 <br />