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Section 5. If at least four-sevenths of the votes cast on Proposition C by the qualified voters voting thereon are in favor of Proposition C, then it shall pass. Otherwise, it shall fail. Section 6. Said election shall be held in full compliance with all applicable laws. Section 7. The City Clerk is directed to notify the Board of Election Commissioners of St. Louis County, Missouri of the election and Proposition C prior to 5:00 p.m. on August 24, 2004, as required by law. Section 8. The City expects to incur capital expenditures on and after the date of adoption of this Ordinance in connection with the purposes described above (the "Expenditures"), 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 $2,000,000. 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 United States Treasury Regulation Section 1.150-2 issued under the Internal Revenue Code of 1986, as amended, and the adoption of this Ordinance is consistent with the budgetary and financial circumstances of the City. Section 9. passage as provided by law. PASSED ATT~ This ordinance shall take effect and be in force from and after its CITY CLERK day of ~XlY[/J/,J ,2004 FORM: