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29. RESOLUTION FOR DECLARATION OF OFFICIAL INTENT TO REIMBURSE FOR PURPOSES OF SECTIONS 103 AND 141-150 OF THE INTERNAL REVENUE CODE OF 1986 Authorize the Chairman to approve and execute the Resolution, which constitutes a Declaration of Official Intent to Reimburse required for the issuance of tax exempt securities to reimburse prior expenditures, related to the acquisition of County departmental equipment and/or capital purchases from the five year capital projects schedule for Fiscal Year 2015-16 to 2018-19. The County is anticipating issuing tax-exempt obligations to finance equipment and/or capital purchases for General Fund and Special Revenue Fund departments. The maximum principal amount of obligations expected to be issued is $94,537,333. Exhibit A shows the proposed equipment and/or capital purchases (but not limited too) by anticipated fiscal year. The County reasonably expects to reimburse the expenditures with proceeds of a tax exempt borrowing. The Department of Finance and OMB have determined a need for the County to issue tax exempt securities to finance equipment and/or capital purchases to replace existing equipment along with new purchases for either obsolete items and/or new initiatives. Bond proceeds will be deposited into a Capital Projects Fund (TBD) to track expenditures and for arbitrage compliance. Equipment and capital purchases from bond proceeds will be individually tracked to ensure that purchases are capitalized, if applicable, and to track expenditures by department. The benefit to the County for issuing long-term debt obligations is debt payments are exempt from the ELR. (C-18-16-005-4-00)

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