Resolutions-2025-046

42/ L Tiffin/ 436989- a- Water Rev Section 3.. Pursuant to Section 2 150- 1.. of the Income Tax Regulations ( the Regulations") of the Internal Revenue Service, the City declares ( a) that it intends to undertake the Project which. is reasonably estimated to cost approximately $ 1. 000, b) 000, 5, (that other than i)expenditures to be paid or reimbursed from. sources other than the issuance of bonds, notes or ys prior to the date other obligations ( the " Bonds"), or ( ii)expenditures made not earlier than 60 da. of this Resolution or a previous intent resolution of the City, or ( iii)expenditures amounting to the lesser of $ 100, 000 or 5% of the proceeds of the Bonds,. or ( iv) expenditures constituting preliminary expenditures as defined in Section 1. 150- 2) f)( 2( of the Regulations, no expenditures for the Project have heretofore been made by the City and no expenditures will be rnad. e by the City until after the date of this Resolution or a prior intent resolution of the City, and ( c)that the City reasonably expects to reinihurse the expenditures made for costs of the City out of the proceeds of the Bonds. This declaration is a declaration of official intent adopted pursuant to Section 2 of the Regulations. 150- 1. Section 4. All resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of such conflict. Section 5. This resolution shall be in full force and effect immediately upon its adoption and approval, as provided by law. Passed and approved this May 6, 2025, Attest: 0090 On motion and vote, the meeting adjourned. Mayor Attest: 4- DORSEY & WHITNEY 1:. EP, ATTORNEYS, DES MOINES, IOWA