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AN ORDINANCE CALLING A BOND ELECTION IN THE CITY OF UNIVERSITY CITY, MISSOURI. BE IT ORDAINED BY THE COUNCIL OF THE CITY OF UNIVERSITY CITY, MISSOURI, AS FOLLOWS: Section 1. The City Council of the CiVy of University City, Missouri (the "City") finds it necessary and hereby declares its intent to borrow $1,000,000 for the purpose of constructing parking and related improvements within the City's loop business district (the "Project"), and to evidence such borrowing by the issuance of general obligation bonds of the City in the aggregate principal amount of $1,000,000 (the "Bonds"). Section 2. An election is hereby ordered to be held in the City on Tuesday, November 6, 2001, on the following proposition: PROPOSITION P Shall the City of University City, Missouri, issue its general obligation bonds in the amount of $1,000,000 for the purpose of constructing parking and related improvements within the City's loop business district? YES [] NO [] Section 3. The form of the Notice of Election for said election, a copy of which is attached hereto as Exhibit A and made a part hereof, is hereby approved. Section 4. The Debt Statement setting forth the information required by Section 43 of the City's Charter, a copy of which is attached hereto as Exhibit B and made a part hereof, is hereby approved. Section 5. The City Clerk is hereby authorized and directed to notify the Board of Election Commissioners of St. Louis County, Missouri, of the adoption of this Ordinance no later than 5:00 p.m. on August 28, 2001, and to include in said notification all of the terms and provisions required by Chapter 115 of the Revised Statutes of Missouri, as amended. Section 6. The City expects to incur capital expenditures on and after the date of adoption of this Ordinance (the "Expenditures") in connection with the purposes described above, and intends to reimburse itself for such Expenditures with the proceeds of the Bonds in an amount which, depending on the date of issuance of the Bonds, may aggregate a maximum of' $1,000,000. The City Council has determined that the funds to be advanced to pay such Expenditures are: or will be available only for a temporary period and it is necessary to reimburse the City for such Expenditures made on and after the date hereof. As of the date hereof, there are no funds from sources other than the Bonds that are, or are reasonably expected to be, reserved, allocated on a long-term basis, or otherwise set aside by the City to pay such Expenditures. This Ordinance constitutes a declaration of official intent under Treasury Regulation Section 1.103-18