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<br />RESOLUTION NO. 4727 <br /> <br />A RESOLUTION DELEGATING AUTHORITY TO DECLARE <br />OFFICIAL INTENT TO REIMBURSE EXPENDITURES. <br /> <br />The City Council of the City of Eugene finds as follows: <br /> <br />A. The City routinely undertakes capital projects that the City intends to finance with <br />tax-exempt obligations. <br /> <br />B. Federal tax law requires an issuer of tax-exempt obligations to declare its intention <br />if the issuer expects to spend its funds on a project and later reimburse itself for those expenditures <br />from the proceeds of tax-exempt obligations. <br /> <br />NOW, THEREFORE, based upon the above findings, <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EUGENE, a <br />Municipal Corporation of the State of Oregon, as follows: <br /> <br />In addition to the City Manager's authority contained in the Eugene Charter 1976, the City <br />Manager is specifically authorized to make future declarations of intent to reimburse without <br />additional action by the City Council. <br /> <br />The foregoing Resolution adopted the 8th day of July, 2002. <br /> <br />fl:r/L1L~L. -z:2J <br />City Recorder <br /> <br />Resolution - 1 <br />