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3. 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 Project from the proceeds of its <br />debt or other financing. The maximum amount of debt or other financing expected to be issued <br />for the Additional Equipment is set forth in Paragraph 1. <br /> <br />4. 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 <br />August 12, 2003. <br /> <br />Teste: <br /> <br />City Clerk <br /> <br />,2- <br /> <br /> <br />