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to issue bonds or other obligations (the "Reimbursement Bonds") and to use the proceeds of the <br />Reimbursement Bonds to reimburse the City for the expenditures made from the City's available <br />funds for the Project. The City expects that the principal amount of the Reimbursement Bonds <br />will not exceed $1,837,857.00, which represents the estimated assessment amount plus a margin <br />of 10%. <br /> <br /> Section 6. Lines of credit and other evidence of indebtedness authorized by City Council <br />Resolution No. 4807 may be issued to finance the construction of the Improvements. <br /> <br /> Section 7. Proceeds from unbonded assessments, improvement bonds, foreclosure of liens <br />based on the Improvements and from other budgeted funds including ad valorem taxes, if levied, to <br />pay the debt shall be deposited in the Short Term Debt Fund until the indebtedness issued to finance <br />the Improvements is redeemed. Proceeds so deposited may be used only to pay the indebtedness <br />issued to finance the Improvements. <br /> <br /> Section 8. The City Manager, or the person designated in writing by the City Manager to act <br />under Resolution No. 4807 may sign the evidence of indebtedness issued to finance the construction <br />of the Improvements. <br /> <br /> Section 9. This Resolution shall become effective immediately upon its adoption. <br /> <br /> The foregoing Resolution adopted the 9th day of May, 2005. <br /> <br /> City Recorder <br /> <br />Resolution - 2 <br />QSPROJECTS~ROJ-2\4172\Corresp\OTHER\4172 WUN Alleys LID Resolution .DOC <br /> <br /> <br />