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f <br /> VAW <br /> Section 2. The Bonds authorized in the Agreement To Issue Bonds set forth in the <br /> preceding section are to be issued, sold and delivered under the authority of the Act, and all <br /> related actions and documents shall be in conformity therewith. The City intends this resolution <br /> to be the expression of its present intent, pursuant to the terms hereof and in the Agreement to <br /> Issue Bonds, to issue the Bonds in an aggregate principal amount of up to $7,000,000, and also <br /> to issue additional bonds if the Project costs exceed such amount, and to expend the Bond <br /> proceeds to defray the costs of the Project. The City considers this resolution to be its <br /> "declaration of official intent" to reimburse an original expenditure with proceeds of an <br /> obligation for all purposes of the Internal Revenue Code of 1986, as amended, and the <br /> regulations promulgated thereunder. <br /> Section 3. This Resolution shall be in full force and effect from and after its adoption. <br /> L <br /> ADOPTED this ' day of 1998. <br /> CITY OF BATESVILLE, ARKANSAS <br /> By: <br /> Mayor <br /> ATTEST: <br /> By: L)"', <br /> City Clerk <br /> (SEAL] <br /> MndReso1.001 <br /> 052698 -6- <br />