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<br />RESOLUTION NO. 1042 <br /> <br />A RESOLUTION DELEGATING AUTHORITY TO <br />DECLARE OFFICIAL INTENT TO REIMBURSE <br />EXPENDITURES. <br /> <br />The Urban Renewal Agency of the City of Eugene finds as follows: <br /> <br />A. From time to time, the Urban Renewal Agency undertakes capital projects <br />that the Agency intends to finance with tax-exempt obligations. <br /> <br />B. Federal tax law requires an issuer of tax-exempt obligations to declare its <br />intention if the issuer expects to spend its funds on a project and later reimburse itself for <br />those expenditures from the proceeds of tax-exempt obligations. <br /> <br />NOW, THEREFORE, based upon the above findings, <br /> <br />BE IT RESOLVED BY THE URBAN RENEWAL AGENCY OF THE CITY <br />OF EUGENE, as follows: <br /> <br />The Agency Director is specifically authorized to make declarations of intent to <br />reimburse expenditures pursuant to Treasury Regulation 1.150-2 and any similar, <br />replacement provision without additional action by the Urban Renewal Agency. <br /> <br />The foregoing resolution adopted the 8th day of January, 2007. <br /> <br />