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19940208 r-94-6RESOLUTION NO. R-94-6 RESOLUTION OF OFFICIAL INTENT TO REIMBURSE EXPENDITURES FOR CAPITAL IMPROVEMENTS WITH PROCEEDS OF BONDS WHEREAS, the City of Fairfax, Virginia (the "City"), intends to undertake expansion and improvements to fire stations owned by the City and the volunteer fire department, expansion and reorganization of the City property yard, street and road improvements, the restoration of certain historic properties owned by the City, and storm water drainage system improvements (collectively, the "Capital Improvements"); and WHEREAS, the City intends to pay costs of the Capital Improvements prior to the issuance of the Bonds, as hereinafter defined, and to receive reimbursement for such expenditures from proceeds of the sale of the Bonds; BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAIRFAX VIRGINIA: 1. The City intends to finance the Capital Improvements through the issuance of bonds in an amount not to exceed $7,564,000 (the "Bonds"). 2. The City intends to receive reimbursement from proceeds of the sale of the Bonds for costs of the Capital Improvements paid by the City prior to the issuance of the Bonds. 3. The City intends that the adoption of this resolution be considered as "official intent" within the meaning of Treasury Regulations Section 1.150-2 promulgated under the Internal Revenue Code of 1986, as amended. 4. The City Clerk is directed to make a copy of this resolution continuously available for inspection by the general public during normal business hours at the City offices from the date of adoption hereof through the date of the issuance of the Bonds. 5. This resolution shall take effect immediately upon adoption. Adopted: February 8, 1994 Mayor Attest: ~ty~lerk