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4. Reimbursement. The City Council adopts this declaration of official intent under <br />Treasury Regulations Section 1.150-2. The City Council reasonably expects to reimburse <br />advances made or to be made by the City to pay the costs of the Apparatus from the proceeds of <br />its debt or other financing. The maximum amount of debt or other financing expected to be <br />issued for the Apparatus is $1,800,000. <br /> <br /> 5. Effective Date. This Resolution shall take effect on the date of its adoption <br /> <br /> Adopted by the Council of the City of Portsmouth, Virginia at a meeting held on June 25, <br />2002. <br /> <br /> Teste: <br /> <br /> <br /> City Clerk <br /> <br /> <br /> -2- <br /> <br /> <br />