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DES:djk ~'/03/95 (100/39) <br /> <br /> 3. The maximum principal amount of the Obligations <br />expected to be issued for the Projects is $15,000,000.00. <br /> <br /> 4. This Council hereby affirms that the City will make a <br />reimbursement allocation, which is a written allocation by the <br />City that evidences the City's use of proceeds of the Bonds to <br />reimburse an Expenditure, or Expenditures no later than 18 months <br />after the later of the date on which the Expenditure(s) is (or <br />are) paid or the Project(s) is (or are) placed in service or <br />abandoned, but in no event more than three years after the date <br />on which the Expenditure(s) is (or are) paid, and, further, this <br />Council affirms that the City recognizes that exceptions are <br />available for certain "preliminary expenditures", costs of <br />issuance, certain de minimis amounts, expenditures by "small <br />issuers" (based on the year of issuance and not the year of <br />expenditure) and expenditures for construction projects of at <br />least 5-years. <br /> <br /> 5. This resolution shall be effective upon its adoption. <br /> <br /> <br />