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4,D2, <br />RESOLUTION NO. <br />A RESOLUTION DECLARING THE OFFICIAL INTENT TO <br />REIMBURSE EXPENDITURES FROM THE PROCEEDS OF TAX <br />EXEMPT SECURITIES <br />WHEREAS, the Redwood City Redevelopment Agency (the "Issuer") <br />desires to finance the construction and acquisition of the facilities described in <br />detail below (collectively the "Project "); and <br />WHEREAS, the Issuer reasonably expects to reimburse such <br />expenditures by authorizing the sale and delivery of one or more series of <br />obligations, as described below: <br />NOW, THEREFORE, THE ISSUER HEREBY RESOLVES AS <br />FOLLOWS: <br />1. This Resolution is a declaration of official intent to reimburse <br />expenditures pursuant to Treasury Regulations Section 1.150 -2. <br />2. The Issuer desires to finance the construction and acquisition of <br />the Project, which consist of the under grounding and rerouting of certain storm <br />drain culverts in connection with the development of a parking facility for a <br />downtown retail /cinema project. <br />3. The Issuer reasonably expects to reimburse the expenditures <br />through the sale and delivery of one or more series of obligations (the <br />"Obligations "), the interest component on which is excludable from gross income <br />under Section 103 of the Internal Revenue Code. The maximum principal <br />amount of Obligations to be issued for the Project is $4,500.00. <br />F: /Atly /Reso /Reso.1379 <br />031803 <br />