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<br />--------- <br /> <br />RES 0 L UTI 0 N NO. 9 <br /> <br />WHEREAS, the City Council (the "Governing Body") of the <br />City of Louisville, Colorado (the "City"), has determined and <br />hereby determines and declares that the interest of the City and <br />the public interest and necessity require that certain <br />improvements be acquired and constructed for the City and its <br />inhabitants; and <br /> <br />WHEREAS, the Governing Body has determined that it is <br />necessary to make capital expenditures to acquire and construct <br />such improvements prior to the time that long-term bonds are <br />issued to finance the improvements; and <br /> <br />WHEREAS, it is the Governing Body's reasonable <br />expectation that when such long-term bonds are issued, such <br />capital expenditures will be reimbursed with the proceeds of such <br />long-term bonds; and <br /> <br />WHEREAS, in order to comply with the provisions of the <br />Internal Revenue Code of 1986, as amended (the "Code"), it is the <br />Governing Body's desire that this resolution shall constitute the <br />"official intent" of the City to reimburse such capital <br />expenditures within the meaning of Income Tax Regulation Sl.103- <br />18; <br /> <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE <br />CITY OF LOUISVILLE, COLORADO: <br /> <br />Section 1. General Description of Property to Which <br />Reimbursement Relates; Maximum Anticipated Debt. The Governing <br />Body intends to make capital expenditures to finance the <br />acquisition and construction of a water treatment plant (the <br />"Project") . The capital expenditures will be made from moneys <br />contained in the City's Water Fund, which is the general operating <br />fund for the City's water system. The Governing Body reasonably <br />expects that such capital expenditures will be reimbursed with the <br />proceeds of debt to be incurred by the City. The Governing Body <br />expects that the debt to be incurred by the city for such purpose <br />will be in a maximum principal amount of $7,500,000. <br /> <br />Section 2 . <br />Resolution is intended <br />reimburse expenditures <br />S1.103-18. <br /> <br />Declaration of Official Intent. This <br />to be a declaration of "official intent" to <br />within the meaning of Income Tax Regulation <br /> <br />Section 3. Reimbursement Period. The reimbursement <br />allocation to be made with respect to such capital expenditures <br />will occur not later than one year after the later of (i) the date <br />on which the expenditure is paid, or (ii) the date on which the <br />Project is placed in service. <br /> <br />- 1 - <br />