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expenditures made from the City's available funds for the Project. The City expects that the <br />principal arnom~t of the Reimbursement Bonds will not exceed $234,895~ which represents the <br />estimated assessment amount plus a margin 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, ~breclosure 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 lmprovements 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 ~mprovements. <br /> <br />Section 9. This Resolution shall become effective immediately upon its adoption. <br /> <br />The foregoing Resolution adopted the 18th day of July, 2005. <br /> <br />Recorder <br /> <br />Resolution - 2 <br /> <br /> <br />